Bitcoin address: Create, Get example, Format – BitcoinWiki has updated to the new Bitcoin (BCH) address format! has updated to the new Bitcoin (BCH) address format! submitted by MemoryDealers to btc [link] [comments] has updated to the new Bitcoin (BCH) address format! has updated to the new Bitcoin (BCH) address format! submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Bitcoin Cash addresses have a new format so you can easily distinguish them from bitcoin addresses. As of today, you'll see this updated for all Bitcoin Cash addresses in your Blockchain wallet
submitted by Blockchain-support to u/Blockchain-support [link] [comments]

01-24 21:13 - 'Bitcoin Cash addresses have a new format so you can easily distinguish them from Bitcoin addresses' ( by /u/Miladran removed from /r/Bitcoin within 4-14min

Bitcoin Cash addresses have a new format so you can easily distinguish them from Bitcoin addresses
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Author: Miladran
submitted by removalbot to removalbot [link] [comments]

I think I witnessed a Wayfair Bitcoin Transaction Just Now

I think I just witnessed a girl get sold for Bitcoin in a transaction today; and the part number was a blockchain wallet address?
So, the image that came up in the Image Search from Yandex showed that girl in red shorts, and it states the image was 3 hours ago from when i did a screenshot. The transaction I found being two hours ago, meaning that girl could have been offered and then sold for $420k (or 46 bitcoin).
How I got there:
I used the Part Number:
That showed up in Google's Cache:
And this matched a blockchain (transaction?) worth 46 bitcoin (~$420k) using a Yandex search which took place 2 hours ago from writing this (2020-07-11 14:24); again that photo posting only an hour before the transaction occured. I have not read up a bunch on the terminology; I need to, especially if Brock Pierce wins the election.
Edit 1:
Went down a rabbit hole, and came across this nugget.
Went to this search link:
Saw a picture of a girl in tight clothes, so I clicked that, brought me here:
There is a video there that is an Oddly Satisfying video with random shit in it, but ten minutes in is that same girl, posing; "zalipatelnaya podborka"?

Edit 2 :
Something about this YouTube Channel (TRAMBOLINO COMPILATION - which I found from the link in Edit 1)...
A few of the Oddly Satisfying videos feature women posing for 5 seconds near the tail end of these videos... I hate to say it, but I almost feel like these are girls getting sold / offered out. And they are using these YouTube videos to do it; it wouldn't really raise attention to an innocent viewer; just some random girls nothing provocative.
Edit 3:
Found another video in this format on a random site from another Search. - 9:40 in on this one
submitted by kitties-plus-titties to conspiracy [link] [comments]

Why i’m bullish on Zilliqa (long read)

Edit: TL;DR added in the comments
Hey all, I've been researching coins since 2017 and have gone through 100s of them in the last 3 years. I got introduced to blockchain via Bitcoin of course, analyzed Ethereum thereafter and from that moment I have a keen interest in smart contact platforms. I’m passionate about Ethereum but I find Zilliqa to have a better risk-reward ratio. Especially because Zilliqa has found an elegant balance between being secure, decentralized and scalable in my opinion.
Below I post my analysis of why from all the coins I went through I’m most bullish on Zilliqa (yes I went through Tezos, EOS, NEO, VeChain, Harmony, Algorand, Cardano etc.). Note that this is not investment advice and although it's a thorough analysis there is obviously some bias involved. Looking forward to what you all think!
Fun fact: the name Zilliqa is a play on ‘silica’ silicon dioxide which means “Silicon for the high-throughput consensus computer.”
This post is divided into (i) Technology, (ii) Business & Partnerships, and (iii) Marketing & Community. I’ve tried to make the technology part readable for a broad audience. If you’ve ever tried understanding the inner workings of Bitcoin and Ethereum you should be able to grasp most parts. Otherwise, just skim through and once you are zoning out head to the next part.
Technology and some more:
The technology is one of the main reasons why I’m so bullish on Zilliqa. First thing you see on their website is: “Zilliqa is a high-performance, high-security blockchain platform for enterprises and next-generation applications.” These are some bold statements.
Before we deep dive into the technology let’s take a step back in time first as they have quite the history. The initial research paper from which Zilliqa originated dates back to August 2016: Elastico: A Secure Sharding Protocol For Open Blockchains where Loi Luu (Kyber Network) is one of the co-authors. Other ideas that led to the development of what Zilliqa has become today are: Bitcoin-NG, collective signing CoSi, ByzCoin and Omniledger.
The technical white paper was made public in August 2017 and since then they have achieved everything stated in the white paper and also created their own open source intermediate level smart contract language called Scilla (functional programming language similar to OCaml) too.
Mainnet is live since the end of January 2019 with daily transaction rates growing continuously. About a week ago mainnet reached 5 million transactions, 500.000+ addresses in total along with 2400 nodes keeping the network decentralized and secure. Circulating supply is nearing 11 billion and currently only mining rewards are left. The maximum supply is 21 billion with annual inflation being 7.13% currently and will only decrease with time.
Zilliqa realized early on that the usage of public cryptocurrencies and smart contracts were increasing but decentralized, secure, and scalable alternatives were lacking in the crypto space. They proposed to apply sharding onto a public smart contract blockchain where the transaction rate increases almost linear with the increase in the amount of nodes. More nodes = higher transaction throughput and increased decentralization. Sharding comes in many forms and Zilliqa uses network-, transaction- and computational sharding. Network sharding opens up the possibility of using transaction- and computational sharding on top. Zilliqa does not use state sharding for now. We’ll come back to this later.
Before we continue dissecting how Zilliqa achieves such from a technological standpoint it’s good to keep in mind that a blockchain being decentralised and secure and scalable is still one of the main hurdles in allowing widespread usage of decentralised networks. In my opinion this needs to be solved first before blockchains can get to the point where they can create and add large scale value. So I invite you to read the next section to grasp the underlying fundamentals. Because after all these premises need to be true otherwise there isn’t a fundamental case to be bullish on Zilliqa, right?
Down the rabbit hole
How have they achieved this? Let’s define the basics first: key players on Zilliqa are the users and the miners. A user is anybody who uses the blockchain to transfer funds or run smart contracts. Miners are the (shard) nodes in the network who run the consensus protocol and get rewarded for their service in Zillings (ZIL). The mining network is divided into several smaller networks called shards, which is also referred to as ‘network sharding’. Miners subsequently are randomly assigned to a shard by another set of miners called DS (Directory Service) nodes. The regular shards process transactions and the outputs of these shards are eventually combined by the DS shard as they reach consensus on the final state. More on how these DS shards reach consensus (via pBFT) will be explained later on.
The Zilliqa network produces two types of blocks: DS blocks and Tx blocks. One DS Block consists of 100 Tx Blocks. And as previously mentioned there are two types of nodes concerned with reaching consensus: shard nodes and DS nodes. Becoming a shard node or DS node is being defined by the result of a PoW cycle (Ethash) at the beginning of the DS Block. All candidate mining nodes compete with each other and run the PoW (Proof-of-Work) cycle for 60 seconds and the submissions achieving the highest difficulty will be allowed on the network. And to put it in perspective: the average difficulty for one DS node is ~ 2 Th/s equaling 2.000.000 Mh/s or 55 thousand+ GeForce GTX 1070 / 8 GB GPUs at 35.4 Mh/s. Each DS Block 10 new DS nodes are allowed. And a shard node needs to provide around 8.53 GH/s currently (around 240 GTX 1070s). Dual mining ETH/ETC and ZIL is possible and can be done via mining software such as Phoenix and Claymore. There are pools and if you have large amounts of hashing power (Ethash) available you could mine solo.
The PoW cycle of 60 seconds is a peak performance and acts as an entry ticket to the network. The entry ticket is called a sybil resistance mechanism and makes it incredibly hard for adversaries to spawn lots of identities and manipulate the network with these identities. And after every 100 Tx Blocks which corresponds to roughly 1,5 hour this PoW process repeats. In between these 1,5 hour, no PoW needs to be done meaning Zilliqa’s energy consumption to keep the network secure is low. For more detailed information on how mining works click here.
Okay, hats off to you. You have made it this far. Before we go any deeper down the rabbit hole we first must understand why Zilliqa goes through all of the above technicalities and understand a bit more what a blockchain on a more fundamental level is. Because the core of Zilliqa’s consensus protocol relies on the usage of pBFT (practical Byzantine Fault Tolerance) we need to know more about state machines and their function. Navigate to Viewblock, a Zilliqa block explorer, and just come back to this article. We will use this site to navigate through a few concepts.
We have established that Zilliqa is a public and distributed blockchain. Meaning that everyone with an internet connection can send ZILs, trigger smart contracts, etc. and there is no central authority who fully controls the network. Zilliqa and other public and distributed blockchains (like Bitcoin and Ethereum) can also be defined as state machines.
Taking the liberty of paraphrasing examples and definitions given by Samuel Brooks’ medium article, he describes the definition of a blockchain (like Zilliqa) as: “A peer-to-peer, append-only datastore that uses consensus to synchronize cryptographically-secure data”.
Next, he states that: "blockchains are fundamentally systems for managing valid state transitions”. For some more context, I recommend reading the whole medium article to get a better grasp of the definitions and understanding of state machines. Nevertheless, let’s try to simplify and compile it into a single paragraph. Take traffic lights as an example: all its states (red, amber, and green) are predefined, all possible outcomes are known and it doesn’t matter if you encounter the traffic light today or tomorrow. It will still behave the same. Managing the states of a traffic light can be done by triggering a sensor on the road or pushing a button resulting in one traffic lights’ state going from green to red (via amber) and another light from red to green.
With public blockchains like Zilliqa, this isn’t so straightforward and simple. It started with block #1 almost 1,5 years ago and every 45 seconds or so a new block linked to the previous block is being added. Resulting in a chain of blocks with transactions in it that everyone can verify from block #1 to the current #647.000+ block. The state is ever changing and the states it can find itself in are infinite. And while the traffic light might work together in tandem with various other traffic lights, it’s rather insignificant comparing it to a public blockchain. Because Zilliqa consists of 2400 nodes who need to work together to achieve consensus on what the latest valid state is while some of these nodes may have latency or broadcast issues, drop offline or are deliberately trying to attack the network, etc.
Now go back to the Viewblock page take a look at the amount of transaction, addresses, block and DS height and then hit refresh. Obviously as expected you see new incremented values on one or all parameters. And how did the Zilliqa blockchain manage to transition from a previous valid state to the latest valid state? By using pBFT to reach consensus on the latest valid state.
After having obtained the entry ticket, miners execute pBFT to reach consensus on the ever-changing state of the blockchain. pBFT requires a series of network communication between nodes, and as such there is no GPU involved (but CPU). Resulting in the total energy consumed to keep the blockchain secure, decentralized and scalable being low.
pBFT stands for practical Byzantine Fault Tolerance and is an optimization on the Byzantine Fault Tolerant algorithm. To quote Blockonomi: “In the context of distributed systems, Byzantine Fault Tolerance is the ability of a distributed computer network to function as desired and correctly reach a sufficient consensus despite malicious components (nodes) of the system failing or propagating incorrect information to other peers.” Zilliqa is such a distributed computer network and depends on the honesty of the nodes (shard and DS) to reach consensus and to continuously update the state with the latest block. If pBFT is a new term for you I can highly recommend the Blockonomi article.
The idea of pBFT was introduced in 1999 - one of the authors even won a Turing award for it - and it is well researched and applied in various blockchains and distributed systems nowadays. If you want more advanced information than the Blockonomi link provides click here. And if you’re in between Blockonomi and the University of Singapore read the Zilliqa Design Story Part 2 dating from October 2017.
Quoting from the Zilliqa tech whitepaper: “pBFT relies upon a correct leader (which is randomly selected) to begin each phase and proceed when the sufficient majority exists. In case the leader is byzantine it can stall the entire consensus protocol. To address this challenge, pBFT offers a view change protocol to replace the byzantine leader with another one.”
pBFT can tolerate ⅓ of the nodes being dishonest (offline counts as Byzantine = dishonest) and the consensus protocol will function without stalling or hiccups. Once there are more than ⅓ of dishonest nodes but no more than ⅔ the network will be stalled and a view change will be triggered to elect a new DS leader. Only when more than ⅔ of the nodes are dishonest (66%) double-spend attacks become possible.
If the network stalls no transactions can be processed and one has to wait until a new honest leader has been elected. When the mainnet was just launched and in its early phases, view changes happened regularly. As of today the last stalling of the network - and view change being triggered - was at the end of October 2019.
Another benefit of using pBFT for consensus besides low energy is the immediate finality it provides. Once your transaction is included in a block and the block is added to the chain it’s done. Lastly, take a look at this article where three types of finality are being defined: probabilistic, absolute and economic finality. Zilliqa falls under the absolute finality (just like Tendermint for example). Although lengthy already we skipped through some of the inner workings from Zilliqa’s consensus: read the Zilliqa Design Story Part 3 and you will be close to having a complete picture on it. Enough about PoW, sybil resistance mechanism, pBFT, etc. Another thing we haven’t looked at yet is the amount of decentralization.
Currently, there are four shards, each one of them consisting of 600 nodes. 1 shard with 600 so-called DS nodes (Directory Service - they need to achieve a higher difficulty than shard nodes) and 1800 shard nodes of which 250 are shard guards (centralized nodes controlled by the team). The amount of shard guards has been steadily declining from 1200 in January 2019 to 250 as of May 2020. On the Viewblock statistics, you can see that many of the nodes are being located in the US but those are only the (CPU parts of the) shard nodes who perform pBFT. There is no data from where the PoW sources are coming. And when the Zilliqa blockchain starts reaching its transaction capacity limit, a network upgrade needs to be executed to lift the current cap of maximum 2400 nodes to allow more nodes and formation of more shards which will allow to network to keep on scaling according to demand.
Besides shard nodes there are also seed nodes. The main role of seed nodes is to serve as direct access points (for end-users and clients) to the core Zilliqa network that validates transactions. Seed nodes consolidate transaction requests and forward these to the lookup nodes (another type of nodes) for distribution to the shards in the network. Seed nodes also maintain the entire transaction history and the global state of the blockchain which is needed to provide services such as block explorers. Seed nodes in the Zilliqa network are comparable to Infura on Ethereum.
The seed nodes were first only operated by Zilliqa themselves, exchanges and Viewblock. Operators of seed nodes like exchanges had no incentive to open them for the greater public. They were centralised at first. Decentralisation at the seed nodes level has been steadily rolled out since March 2020 ( Zilliqa Improvement Proposal 3 ). Currently the amount of seed nodes is being increased, they are public-facing and at the same time PoS is applied to incentivize seed node operators and make it possible for ZIL holders to stake and earn passive yields. Important distinction: seed nodes are not involved with consensus! That is still PoW as entry ticket and pBFT for the actual consensus.
5% of the block rewards are being assigned to seed nodes (from the beginning in 2019) and those are being used to pay out ZIL stakers. The 5% block rewards with an annual yield of 10.03% translate to roughly 610 MM ZILs in total that can be staked. Exchanges use the custodial variant of staking and wallets like Moonlet will use the non-custodial version (starting in Q3 2020). Staking is being done by sending ZILs to a smart contract created by Zilliqa and audited by Quantstamp.
With a high amount of DS; shard nodes and seed nodes becoming more decentralized too, Zilliqa qualifies for the label of decentralized in my opinion.
Smart contracts
Let me start by saying I’m not a developer and my programming skills are quite limited. So I‘m taking the ELI5 route (maybe 12) but if you are familiar with Javascript, Solidity or specifically OCaml please head straight to Scilla - read the docs to get a good initial grasp of how Zilliqa’s smart contract language Scilla works and if you ask yourself “why another programming language?” check this article. And if you want to play around with some sample contracts in an IDE click here. The faucet can be found here. And more information on architecture, dapp development and API can be found on the Developer Portal.
If you are more into listening and watching: check this recent webinar explaining Zilliqa and Scilla. Link is time-stamped so you’ll start right away with a platform introduction, roadmap 2020 and afterwards a proper Scilla introduction.
Generalized: programming languages can be divided into being ‘object-oriented’ or ‘functional’. Here is an ELI5 given by software development academy: * “all programs have two basic components, data – what the program knows – and behavior – what the program can do with that data. So object-oriented programming states that combining data and related behaviors in one place, is called “object”, which makes it easier to understand how a particular program works. On the other hand, functional programming argues that data and behavior are different things and should be separated to ensure their clarity.” *
Scilla is on the functional side and shares similarities with OCaml: OCaml is a general-purpose programming language with an emphasis on expressiveness and safety. It has an advanced type system that helps catch your mistakes without getting in your way. It's used in environments where a single mistake can cost millions and speed matters, is supported by an active community, and has a rich set of libraries and development tools. For all its power, OCaml is also pretty simple, which is one reason it's often used as a teaching language.
Scilla is blockchain agnostic, can be implemented onto other blockchains as well, is recognized by academics and won a so-called Distinguished Artifact Award award at the end of last year.
One of the reasons why the Zilliqa team decided to create their own programming language focused on preventing smart contract vulnerabilities is that adding logic on a blockchain, programming, means that you cannot afford to make mistakes. Otherwise, it could cost you. It’s all great and fun blockchains being immutable but updating your code because you found a bug isn’t the same as with a regular web application for example. And with smart contracts, it inherently involves cryptocurrencies in some form thus value.
Another difference with programming languages on a blockchain is gas. Every transaction you do on a smart contract platform like Zilliqa or Ethereum costs gas. With gas you basically pay for computational costs. Sending a ZIL from address A to address B costs 0.001 ZIL currently. Smart contracts are more complex, often involve various functions and require more gas (if gas is a new concept click here ).
So with Scilla, similar to Solidity, you need to make sure that “every function in your smart contract will run as expected without hitting gas limits. An improper resource analysis may lead to situations where funds may get stuck simply because a part of the smart contract code cannot be executed due to gas limits. Such constraints are not present in traditional software systems”. Scilla design story part 1
Some examples of smart contract issues you’d want to avoid are: leaking funds, ‘unexpected changes to critical state variables’ (example: someone other than you setting his or her address as the owner of the smart contract after creation) or simply killing a contract.
Scilla also allows for formal verification. Wikipedia to the rescue: In the context of hardware and software systems, formal verification is the act of proving or disproving the correctness of intended algorithms underlying a system with respect to a certain formal specification or property, using formal methods of mathematics.
Formal verification can be helpful in proving the correctness of systems such as: cryptographic protocols, combinational circuits, digital circuits with internal memory, and software expressed as source code.
Scilla is being developed hand-in-hand with formalization of its semantics and its embedding into the Coq proof assistant — a state-of-the art tool for mechanized proofs about properties of programs.”
Simply put, with Scilla and accompanying tooling developers can be mathematically sure and proof that the smart contract they’ve written does what he or she intends it to do.
Smart contract on a sharded environment and state sharding
There is one more topic I’d like to touch on: smart contract execution in a sharded environment (and what is the effect of state sharding). This is a complex topic. I’m not able to explain it any easier than what is posted here. But I will try to compress the post into something easy to digest.
Earlier on we have established that Zilliqa can process transactions in parallel due to network sharding. This is where the linear scalability comes from. We can define simple transactions: a transaction from address A to B (Category 1), a transaction where a user interacts with one smart contract (Category 2) and the most complex ones where triggering a transaction results in multiple smart contracts being involved (Category 3). The shards are able to process transactions on their own without interference of the other shards. With Category 1 transactions that is doable, with Category 2 transactions sometimes if that address is in the same shard as the smart contract but with Category 3 you definitely need communication between the shards. Solving that requires to make a set of communication rules the protocol needs to follow in order to process all transactions in a generalised fashion.
And this is where the downsides of state sharding comes in currently. All shards in Zilliqa have access to the complete state. Yes the state size (0.1 GB at the moment) grows and all of the nodes need to store it but it also means that they don’t need to shop around for information available on other shards. Requiring more communication and adding more complexity. Computer science knowledge and/or developer knowledge required links if you want to dig further: Scilla - language grammar Scilla - Foundations for Verifiable Decentralised Computations on a Blockchain Gas Accounting NUS x Zilliqa: Smart contract language workshop
Easier to follow links on programming Scilla Ivan on Tech
Roadmap / Zilliqa 2.0
There is no strict defined roadmap but here are topics being worked on. And via the Zilliqa website there is also more information on the projects they are working on.
Business & Partnerships
It’s not only technology in which Zilliqa seems to be excelling as their ecosystem has been expanding and starting to grow rapidly. The project is on a mission to provide OpenFinance (OpFi) to the world and Singapore is the right place to be due to its progressive regulations and futuristic thinking. Singapore has taken a proactive approach towards cryptocurrencies by introducing the Payment Services Act 2019 (PS Act). Among other things, the PS Act will regulate intermediaries dealing with certain cryptocurrencies, with a particular focus on consumer protection and anti-money laundering. It will also provide a stable regulatory licensing and operating framework for cryptocurrency entities, effectively covering all crypto businesses and exchanges based in Singapore. According to PWC 82% of the surveyed executives in Singapore reported blockchain initiatives underway and 13% of them have already brought the initiatives live to the market. There is also an increasing list of organizations that are starting to provide digital payment services. Moreover, Singaporean blockchain developers Building Cities Beyond has recently created an innovation $15 million grant to encourage development on its ecosystem. This all suggests that Singapore tries to position itself as (one of) the leading blockchain hubs in the world.
Zilliqa seems to already take advantage of this and recently helped launch Hg Exchange on their platform, together with financial institutions PhillipCapital, PrimePartners and Fundnel. Hg Exchange, which is now approved by the Monetary Authority of Singapore (MAS), uses smart contracts to represent digital assets. Through Hg Exchange financial institutions worldwide can use Zilliqa's safe-by-design smart contracts to enable the trading of private equities. For example, think of companies such as Grab, Airbnb, SpaceX that are not available for public trading right now. Hg Exchange will allow investors to buy shares of private companies & unicorns and capture their value before an IPO. Anquan, the main company behind Zilliqa, has also recently announced that they became a partner and shareholder in TEN31 Bank, which is a fully regulated bank allowing for tokenization of assets and is aiming to bridge the gap between conventional banking and the blockchain world. If STOs, the tokenization of assets, and equity trading will continue to increase, then Zilliqa’s public blockchain would be the ideal candidate due to its strategic positioning, partnerships, regulatory compliance and the technology that is being built on top of it.
What is also very encouraging is their focus on banking the un(der)banked. They are launching a stablecoin basket starting with XSGD. As many of you know, stablecoins are currently mostly used for trading. However, Zilliqa is actively trying to broaden the use case of stablecoins. I recommend everybody to read this text that Amrit Kumar wrote (one of the co-founders). These stablecoins will be integrated in the traditional markets and bridge the gap between the crypto world and the traditional world. This could potentially revolutionize and legitimise the crypto space if retailers and companies will for example start to use stablecoins for payments or remittances, instead of it solely being used for trading.
Zilliqa also released their DeFi strategic roadmap (dating November 2019) which seems to be aligning well with their OpFi strategy. A non-custodial DEX is coming to Zilliqa made by Switcheo which allows cross-chain trading (atomic swaps) between ETH, EOS and ZIL based tokens. They also signed a Memorandum of Understanding for a (soon to be announced) USD stablecoin. And as Zilliqa is all about regulations and being compliant, I’m speculating on it to be a regulated USD stablecoin. Furthermore, XSGD is already created and visible on block explorer and XIDR (Indonesian Stablecoin) is also coming soon via StraitsX. Here also an overview of the Tech Stack for Financial Applications from September 2019. Further quoting Amrit Kumar on this:
There are two basic building blocks in DeFi/OpFi though: 1) stablecoins as you need a non-volatile currency to get access to this market and 2) a dex to be able to trade all these financial assets. The rest are built on top of these blocks.
So far, together with our partners and community, we have worked on developing these building blocks with XSGD as a stablecoin. We are working on bringing a USD-backed stablecoin as well. We will soon have a decentralised exchange developed by Switcheo. And with HGX going live, we are also venturing into the tokenization space. More to come in the future.”
Additionally, they also have this ZILHive initiative that injects capital into projects. There have been already 6 waves of various teams working on infrastructure, innovation and research, and they are not from ASEAN or Singapore only but global: see Grantees breakdown by country. Over 60 project teams from over 20 countries have contributed to Zilliqa's ecosystem. This includes individuals and teams developing wallets, explorers, developer toolkits, smart contract testing frameworks, dapps, etc. As some of you may know, Unstoppable Domains (UD) blew up when they launched on Zilliqa. UD aims to replace cryptocurrency addresses with a human-readable name and allows for uncensorable websites. Zilliqa will probably be the only one able to handle all these transactions onchain due to ability to scale and its resulting low fees which is why the UD team launched this on Zilliqa in the first place. Furthermore, Zilliqa also has a strong emphasis on security, compliance, and privacy, which is why they partnered with companies like Elliptic, ChainSecurity (part of PwC Switzerland), and Incognito. Their sister company Aqilliz (Zilliqa spelled backwards) focuses on revolutionizing the digital advertising space and is doing interesting things like using Zilliqa to track outdoor digital ads with companies like Foodpanda.
Zilliqa is listed on nearly all major exchanges, having several different fiat-gateways and recently have been added to Binance’s margin trading and futures trading with really good volume. They also have a very impressive team with good credentials and experience. They don't just have “tech people”. They have a mix of tech people, business people, marketeers, scientists, and more. Naturally, it's good to have a mix of people with different skill sets if you work in the crypto space.
Marketing & Community
Zilliqa has a very strong community. If you just follow their Twitter their engagement is much higher for a coin that has approximately 80k followers. They also have been ‘coin of the day’ by LunarCrush many times. LunarCrush tracks real-time cryptocurrency value and social data. According to their data, it seems Zilliqa has a more fundamental and deeper understanding of marketing and community engagement than almost all other coins. While almost all coins have been a bit frozen in the last months, Zilliqa seems to be on its own bull run. It was somewhere in the 100s a few months ago and is currently ranked #46 on CoinGecko. Their official Telegram also has over 20k people and is very active, and their community channel which is over 7k now is more active and larger than many other official channels. Their local communities also seem to be growing.
Moreover, their community started ‘Zillacracy’ together with the Zilliqa core team ( see ). It’s a community-run initiative where people from all over the world are now helping with marketing and development on Zilliqa. Since its launch in February 2020 they have been doing a lot and will also run their own non-custodial seed node for staking. This seed node will also allow them to start generating revenue for them to become a self sustaining entity that could potentially scale up to become a decentralized company working in parallel with the Zilliqa core team. Comparing it to all the other smart contract platforms (e.g. Cardano, EOS, Tezos etc.) they don't seem to have started a similar initiative (correct me if I’m wrong though). This suggests in my opinion that these other smart contract platforms do not fully understand how to utilize the ‘power of the community’. This is something you cannot ‘buy with money’ and gives many projects in the space a disadvantage.
Zilliqa also released two social products called SocialPay and Zeeves. SocialPay allows users to earn ZILs while tweeting with a specific hashtag. They have recently used it in partnership with the Singapore Red Cross for a marketing campaign after their initial pilot program. It seems like a very valuable social product with a good use case. I can see a lot of traditional companies entering the space through this product, which they seem to suggest will happen. Tokenizing hashtags with smart contracts to get network effect is a very smart and innovative idea.
Regarding Zeeves, this is a tipping bot for Telegram. They already have 1000s of signups and they plan to keep upgrading it for more and more people to use it (e.g. they recently have added a quiz features). They also use it during AMAs to reward people in real-time. It’s a very smart approach to grow their communities and get familiar with ZIL. I can see this becoming very big on Telegram. This tool suggests, again, that the Zilliqa team has a deeper understanding of what the crypto space and community needs and is good at finding the right innovative tools to grow and scale.
To be honest, I haven’t covered everything (i’m also reaching the character limited haha). So many updates happening lately that it's hard to keep up, such as the International Monetary Fund mentioning Zilliqa in their report, custodial and non-custodial Staking, Binance Margin, Futures, Widget, entering the Indian market, and more. The Head of Marketing Colin Miles has also released this as an overview of what is coming next. And last but not least, Vitalik Buterin has been mentioning Zilliqa lately acknowledging Zilliqa and mentioning that both projects have a lot of room to grow. There is much more info of course and a good part of it has been served to you on a silver platter. I invite you to continue researching by yourself :-) And if you have any comments or questions please post here!
submitted by haveyouheardaboutit to CryptoCurrency [link] [comments]

Noob friendly guide on how to verify the message about Craig Wright.

Noob friendly guide on how to verify the message about Craig Wright.
Step 1: Go to (click Bitcoin QT)
Step 2: Go to
Step 3: Copy the message without quotes
Step 4: Copy wallet address and digital signature (there are 144 pairs to choose from)
Step 5: Go to
Step 6: Copy the wallet address and click enter to see when the first transaction was made with that wallet (all from early days of Bitcoin)

What does this prove?
  • It proves someone else has private keys (passwords) for wallets Craig Wright claims to have access to in the court case (Craig may not even have access himself, although he claims he does). This means he either lied in court (purjury) or need to provide evidence he actually has access to these wallets too.
  • This proves someone involved in the early days of Bitcoin (mathematically verifiable) thinks Craig Wright is not Satoshi.
  • This does not mean Satoshi signed this message (it could be though). It does not matter anyway, we are all Satoshi.
submitted by amansaggu26 to CryptoCurrency [link] [comments]

Ethos wallet issue with transaction fees

Hey guys, so I've made a post on ethos_io but nothing came of it, so I thought to post here in case anyone can help. In case you want to look over that thread here it is:
In short, I have about 100 euro worth of BTC in ethos smart wallet, and now I've decided since its apparently an abandoned project to move to a different one. However, when I get to the screen where I can select the speed of my transaction, even on the cheapest option I get the message that the fees would exceed current balance or something along those general lines.
I've dug around a bit on Google and I found two sites (both links in the other thread) that state the transaction fee for the bitcoin network to be around 1.2 USD. Obviously this is way less than what I have in my wallet and to be frank, Im panik a bit because it wont let me move my bitcoin off the wallet. The app hasnt been updated for a long time, since 2019 I think, so waiting for an update to fix this isnt an option, and Im not too optimistic on contacting their support, if it still exists.
That being my situation, what do you think I can do to get the bitcoin off ethos wallet and onto a new one. By the way, I dont think there is an option to view the keys in ethos, so I cant go that route I think.
I hope there is a way to solve this, 100 euro for me right now is quite a lot of money. Thanks in advance!
Edit: just thought to add a screenshot of the transaction s reen
Edot 2 (solution): redditofuse's answer solved my problem for me :) on mobile so forgive formatting.
"It looks like Ethos Wallet doesn't use a standard derivation path. Try this recovery tool while offline: also, don't use to sweep the BTC. Use the recovery tool to find your private keys for each address you have BTC on. Sweep each private key into a new Coinomi wallet. You then should be able to restore the Coinomi wallet onto the Ledger wallet, or you could create a new wallet on the Ledger, and send the BTC from Coinomi to the Ledger."
submitted by promitheas17j to Bitcoin [link] [comments]

dxDAO aims to power DeFi protocols through decentralized governance

I found this article on internet. It's repost of it to help educate people about all DXDao advantages:
These are positive and necessary steps for DeFi. The new governance structures are intended to help coordinate across community stakeholders and make better decisions. These dynamics are influenced by the issues covered in Dose of DeFi, but I believe they deserve their own focused analysis.
Govern This aims to educate token holders and make them better voters. Emphasis will be placed on specific governance proposals and relaying community governance discussions on forums and weekly calls.
Governance is a coordination technology that has helped countries and companies build more than the sum of their parts. Blockchains are also a coordination technology, but for computers, not humans***.*** Govern This will track the development of the melding of these two over the coming years.
Like governance, Govern This is a work in progress. I would appreciate any feedback on format, topics covered or any other suggestions to make the newsletter better. Just hit reply.
The first issue of Govern This is below. Please click here to subscribe.
Thanks for reading,
dxDAO aims to power DeFi protocols through decentralized governance
Gnosis launched a long-awaited DEX last week with batched auctions for low-liquidity trade pairs. The front-end, Mesa.Eth.Link is owned and operated by dxDAO, a decentralized collective that hopes to power other DeFi protocols.
While dYdX does not have any specific governance plans (yet), this tweet from dYdX founder Antonio Juliano is a common approach to governance.
📷Antonio Juliano @AntonioMJuliano3) 0x should focus less on governance in the short term. It’s way more important to first build something with a large amount of adoption that’s worth governing
December 6th 2018
3 Retweets62 Likes
The tweet at the end of 2018 was in response to 0x and its native token, ZRX. The project was popular but the token had no use case outside of governance.
This governance strategy – build now, decentralize later – is widely accepted in the space and is perhaps best exemplified by the A16Z’s Jesse Walden’s post, “Progressive Decentralization: A Playbook for Building Crypto Applications”, which the A16Z-backed Compound has essentially implemented (more in the section below).
dxDAO, on the other hand, maintains that decentralization must come at the beginning or else the core team and investors will have an outsized influence on the project in formal (token voting) or informal ways (dictators for life).
dxDAO was launched in May 2019, spun out of a collaboration between Gnosis and DAOstack over managing the DutchX platform. dxDAO’s key governance design is separating financial rights to the DAO (DXD) from voting power over the DAO (Reputation). It used an Edgeware-style lock drop to distribute reputation to stakeholders in May of last year. Any user could lock up ETH or an accepted ERC-20 for a month and receive Reputation, which are voting rights in dxDAO, even though it is not a token and cannot be transferred.
Over 400 unique Ethereum addresses participated in the distribution scheme. Gnosis went through a pretty extensive process in July 2019 to “step back” from its involvement in the DAO, and since then, the community and dxDAO have aligned behind a mission of “putting the ‘De’ in Decentralized Finance”.
Following on last week’s launch of Mesa.ETH.Link, dxDAO is conducting a fundraiser or (“DAICO”?) to help fund its new slate of DeFi products, including a prediction market platform (Omen) and a privacy-centric DeFi dashboard (Mix).
Project launch is typically when a project is most centralized. Execution is hard and direction and accountability are important. dxDAO’s approach will be an interesting counterexample to the “decentralize later” trend and may provide insight into new governance strategies.
Click here for more information about the dxDAO fundraiser.
Here’s what is on the dxDAO docket this week:
Compound governance goes live, has it found Market-Protocol-Fit?
Since its founding in 2017, Compound has executed with an almost flawless record: no bugs/hacks, a major protocol upgrade and a big name fundraise (twice).
But all of that has been because Compound, the company, has executed well, but can protocol development and the growth of the platform be sustained with community management? We shall see.
Compound’s governance system could not be simpler. Anyone with at least 1% of COMP can submit a proposal of executable code. COMP holders have a 3 day voting period; the proposal passes with a majority of token votes AND a 4% quorum of all COMP tokens.
The 1% minimum for proposal submission is a good anti-Sybil mechanism but it greatly limits participation by small users. There is delegation, so you could imagine a “proposal petition” where you would delegate your COMP to a proposal instead of signing your name.
Compound is clearly taking the “less governance is the best governance” approach. This has worked surprisingly well with Bitcoin and Ethereum, which of course, do not have any formal governance, but those communities clearly have informal governance systems that make decisions.
The biggest governance question for Compound: who is the community?
Other Internet has an intriguing essay on the emergent order from new blockchain tokens and their communities. It is worth a read. It discusses the emergent iteration that blockchains – as a technology and a community – go through to find a niche, both in culture and product.
While it focuses on base-layer blockchains that launch with a token, the essay underscores the most underrated governance element: token distribution. It quotes an insightful tweet from Eric Wall
📷Eric Wall @ercwlA question that keeps me up at night: Is it possible to create a rubbish coin based on advanced bullshit, build a community of misguided fans nevertheless, run it centralized for 5 yrs, hardfork-copy the design of a real working project, keep the community and become a success?
keysheet @keysheet
@ErcWll was one of the first vocal critics of IOTA back in 2017, shortly before the project hit a market cap of $15B. Today, the project is down 99% and appears to be brutally falling apart. A thread:
February 13th 2020
17 Retweets163 Likes
Before Bitcoin could harden its code and find ‘Digital Gold’ and before Ethereum found ‘DeFi’ and ships ETH2.0, both needed to find a “a strong community of believers” in order to create a “virtuous cycle between headless brands and infrastructural build-out to progressively realize [their] initial promise.”
Communities are connected through a wide spread token distribution, Bitcoin through cypherpunks and online drugs and Ethereum through a global ICO (what Teo Leibowitz called “The Immaculate ICO”).
$COMP distribution
The biggest “news” has been details about $COMP distribution:
There are no explicit plans yet, but the widely held assumption is that the COMP distribution will be determined by the interest earned and paid by users on the protocol since its inception. This is a clever way that only incentivizes more use of the protocol and is hard to game because interests accrues over time.
But the question still remains, what will the COMP community look like and what values will it espouse? Can emergent cultures arise out of Silicon Valley too?
Here’s what is on the Compound docket this week:
Maker and wBTC, a test case for the MIP process
While Maker had planned to spend Q2 moving forward with their upgraded governance process, most of its focus has been on restoring the Dai peg.
For more on how the Maker governance process has expanded outside the core community, check out the previous edition of Govern This.
Here’s what is on the Maker docket this week:
Governance and Risk meeting (April 23)
Single Collateral Dai shutdown – the process has begun. A poll passed with May 12 as the official SCD shutdown. Just yesterday, an executive just passed yesterday to make the MKR oracle fee-less, which will help with migration. Many in the community think the migration of debt from SCD will do more than enough to restore the peg.
13 MIPs and 2 sub proposals – Core to the new Maker governance process is the “Maker Improvement Proposals (MIPs), which are modeled off of BIPs (for Bitcoin) and EIPs (for Ethereum). The two sub-proposals are to appoint the Smart Contracts Team and assign Charles St. Louis as the MIP editor.
The 13 MIPs are listed below:
- MIP1 (Maker Governance Paradigms)- MIP2 (Launch Period)- MIP3 (Governance Cycle)- MIP4 (MIP Amendment and Removal Process)- MIP5 (Emergency Voting System)- MIP6 (Collateral Onboarding Form/Forum Template)- MIP7 (Onboarding and Offboarding Domain Teams for Collateral Onboarding)- MIP8 (Domain Greenlight)- MIP9 (Community Greenlight)- MIP10 (Oracle Management)- MIP11 (Collateral Onboarding General Risk Model Management)- MIP12 (Collateral and Risk Parameter Management)
By and large, the MIPs codify many of the informal Maker governance processes. There is currently a request for comments period (MIP forum) and there will be an informal poll on Monday, April 27 on whether to proceed with the 13 MIPs and 2 sub proposals. If it’s a “Yes”, than an executive for an official ratification vote would start on May 1 and lasts for 4 days. If it passes, the official governance cycle will begin and the rest of the MIPs will likely be approved from May 4 – 6.
Other Governing Things
That’s it! Feedback definitely appreciated. Just hit reply. Written in Brooklyn where it rained all day. No euchre today, but yesterday was epic.
Govern This is written by Chris Powers. Opinions expressed are my own. All content is for informational purposes and is not intended as investment advice.
submitted by yaroslav_karpov to CryptoMoonShots [link] [comments]

How harms the cryptocurrency community

How harms the cryptocurrency community
This post has been written to draw's attention to the issues of its product. (formerly was founded in 2011 and with no doubt has helped the Bitcoin community to create a block explorer and has proven itself as a valuable service. Millions of people from all over the world use their wallet. However, time goes on, Bitcoin develops, but one of the main cryptocurrency companies not only slows down the process of its development, but also discredits the usability of cryptocurrencies. Why is that? We have tried to explain that in this post.

1. Lack of Segwit Address Support

This is the most painful problem for our service. To receive cryptocurrency we use segwit addresses by default. If a customer contacts our support, we can of course change an address in an order to P2SH (the one that begins with number "3"), but it reduces the usability of the service. Why don't we use P2SH by default? It is less beneficial both for us and for our client, as the cost of the consolidation of the transaction is taken into account when calculating the exchange rate. With a high network load and with orders for a small amount, the commission becomes significant. To compare — segwit addresses (or Bech32 that starts with "bc1") are 15% more advantageous than P2SH.
Segwit (Segregated Witness) was activated in 2017. At the end of the same year the CEO of announced its support starting from (most likely) 2018. We can understand certain fears at the beginning of the way, as the company's security system is for sure not that bad. However more than 2 years have passed since then and that is a lot for the crypto world.

2. Using Legacy (P2PKH) Addresses Only

As of now only a P2PKH address (that starts with number "1") is used in the wallet to receive cryptocurrency. Why is that bad? It is unfavorable for the users of this wallet. They spend 29% more than those using P2SH addresses.

3. Confusion with PAX and USD Digital

Changing the names of the currencies from one to another only in a wallet is a rather strange decision. The key problem is that nowhere in the wallet are there any clues that this is an ERC-20 PAX token on the Ethereum blockchain. New wallet users will most likely be confused by this.
We sometimes get questions: "do we have USD Digital to buy or to sell?" and our technical support is forced to explain that it is PAX.

4. Incompetence of mobile application developers

In fact, this post was inspired by this particular problem. We will not focus on performance or shortcomings, we will just tell you about the main issue.
It is worth starting with questions. What problem does a mobile application solve when a person needs to pay for something? What is the best way to fill in the recipient address and the payment amount on the smartphone? Answer: QR code.
Scanning the QR code in this application is done not just badly, but also in such a way that creates maximum number of problems for a user.
The fact is that in the Android application when scanning code with the bitcoin:
?amount=, the value of the amount to be inserted in the corresponding field may differ from the encoded value by 1-100 Satoshi! Our team simply does not understand how this was implemented.
Do not believe? Try it yourself. Amount to insert — 0.00143452 BTC
After receiving information on such a problem from our users, we began to monitor updates to this application. After 2 updates had come out, the problem was not fixed.
And what about iOS? When scanning a QR code with a sum in iOS , the sum value is simply not inserted into the field! No comments. Bravo! wallet has different currencies, not just Bitcoin. Let's try Ethereum. You want to scan QR codes for Ethereum payment with the relevant sum? There is no such possibility. The application will respond with an "Invalid address" to all such codes:
  • eth:
  • ether:
  • ethereum:
For BitcoinCash, the task of identifying the amount in the line is also an impossible task. Line with wallet bitcoincash:qpk0689rt3xkzlw8ap4yy72amp2zpws6zujkcgavptconsidered true, but with the amount bitcoincash:qpk0689rt3xkzlw8ap4yy72amp2zpws6zujkcgavpt?amount=0.1 — "Invalid address"
But there are applications that understand all such formats, or at least one of them. The string parsing function is pretty trivial and should not be a problem for the developer.
This article has been written based on the experience of using the application of the members of our team (who have used it for many years) and our users.
We encourage to fix at least 3 of the 4 problems that we covered in this article. We still hope that the company will work on the bugs and will earn back trust of its users.
In the meantime — use other applications! ;)
The post is published on our blog:
submitted by FixedFloat to Bitcoin [link] [comments]

Monero - The Elephant in the Room

The state of financial privacy in 2020
Note: You can read this in a friendlier format with images over on Medium -
The erosion of personal privacy is gaining momentum since the coronavirus pandemic took hold. Worldwide, there have been numerous calls by governments and social commentators to increase the surveillance of citizens in hope of controlling the virus. Corporations such as Google and Apple, along with countries such as Singapore, Germany, Belgium, USA, and South Korea have been utilizing smartphone data in different capacities to monitor the movements of citizens.
Many believe the implementation of new surveillance measures will calcify and become the new norm, setting precedence for further encroachment.
Mainstream media has also begun supporting the notion of increased surveillance to serve social and financial needs. A recent Bloomberg opinion piece discussed the need for increased surveillance, pointing out the financial system we operate within is fractured and inefficient when dealing with wide spread social and economic problems.
Once again, government over-reach of citizens’ privacy is a considered solution to our problems.
Countries such as Sweden (which is expected to go entirely cashless by 2023) have been leading the charge in moving to a cashless world, and in Australia the government is preparing to ban cash transactions over ten thousand dollars in order to increase monitorization.
This road to a cashless society is being sped up by the coronavirus pandemic. There is correlation between countries where ‘cash is king’ and a high number of coronavirus infections. Many retail stores are now too afraid to accept cash due to possible virus transmission, with some outright refusing to transact with cash.
The erosion of privacy, and the gradual transition from cash to digital financial transactions leads us to murky waters. Will we be able to conduct private financial transactions five to ten years from now?
Throughout the past decade, unorthodox individuals turned to Bitcoin in order to transact privately. This led to the inception of popular online darknet markets such as the Silk Road. However, many of the darknet markets proved to be unreliable and short-lived. It soon became apparent to Bitcoin users that Bitcoin is not private, and many of those conducting transactions in relation to darknet markets were identified and prosecuted.
Blockchain analytic companies such as Chainanalysis gained traction and suddenly Bitcoin tumblers were found to be ineffective. Blockchain analytic companies take advantage of Bitcoin’s transparent blockchain, analysing data and tracking transaction outputs. The blockchain analytic company then sells this information to cryptocurrency exchanges and government organisations so they can link Bitcoin addresses to specific users. Many Bitcoin advocates tout Bitcoin can be used privately via the use of newer tumbling technologies, however this is a somewhat arduous process with no guarantee of its effectiveness. In December 2019 Chainanalysis demonstrated how they tracked transactions mixed via Wasabi Wallet that were associated with the PlusToken scam. Tumbling also leads to the possibility of coin taint, whereas certain Bitcoin may be perceived to be less valuable because they can be identified as being associated with nefarious activities, and as a result exchange services may confiscate coins when a user attempts to sell them.
While Bitcoin holds many desirable characteristics of sound money, many prominent figures within the Bitcoin space have repeatedly discussed on the need for default privacy and fungibility. However, as was seen in previous years’ block size dispute, the issue of privacy will come with great lengthy debate as stakeholders attempt to reach a consensus that does not impact upon the characteristics of Bitcoin.
As change within the social and financial landscape continues to accelerate, those seeking financial privacy may turn to Monero.
Monero is the elephant in the room.
Monero is a cryptocurrency similar to Bitcoin and shares many of the same characteristics of sound money, however it also provides default privacy. Unlike other privacy focused cryptocurrencies, privacy isn’t opt-in, so all transactions and wallet amounts are unknown and indistinguishable from one another. Every unit of Monero is valued equally as no matter its history. This allows Monero to be truly fungible, and eradicates any possibility of coin taint. It has proven this in a number of cases. For example, exchanges have been hesitant to list Monero due to KYC/AML compliance issues it raises because it is impossible to determine transaction history.
If Monero provides financial privacy solutions, why is Monero being ignored?
Firstly, while most deem privacy to be important, many are yet to find it necessary to adopt privacy technologies. There are many easy to use privacy solutions such as Signal or DuckDuckGo, however these are not widely used as users opt for convenience instead. As surveillance increases and data collected is harnessed to marginalize or punish users, it is like that privacy technologies will become extremely desirable. Additionally, acquiring Monero can be difficult or inconvenient for some, as cryptocurrency exchanges must comply with laws and regulations, and may perceive it to be a risk listing an untraceable cryptocurrency. This also leads to lower liquidity than other cryptocurrencies.
Monero remains a community driven project. Public figures such as John McAfee and Crypto Vigilante continue to advocate the use of Monero ahead of Bitcoin. Due to its humble and open-source nature, Monero isn’t widely promoted even though it maintains the third largest cryptocurrency community on Reddit after Bitcoin and Ethereum.
In respect to the technology, Monero’s hashrate has steadily been increasing over time, and the number of daily transactions taking place on the Monero blockchain are higher than ever. The Monero Research Lab continues its research in order to improve the protocol. Over the past few years these improvements resulted in reduced transaction fees, and enhanced scalability and privacy.
In just a few years from now, it is extremely likely traditional financial systems will not provide the capacity to transact privately. Banks will be required to ask questions regarding why certain transactions took place, and recorded transaction data will be sold to third parties. As the erosion of our privacy continues to accelerate, it won’t be long until Monero gains the use and recognition it deserves, and price reflects this.
Monero is what people think Bitcoin is.
Feel free to share or publish this article as you wish.
submitted by johnfoss68 to CryptoCurrency [link] [comments]

ShapeShift taking forever to help with a simple customer support request

I accidentally send Litecoin to one of ShapeShift bitcoin addresses (had no clue that this is even possible - surprisingly the address format is similar). Anyways, since I submitted my ticked, I asked ShapeShift multiple times if they had any progress. All I get in response from ShapeShift support is the same generic email over and over again (see below). Sadly, I'm not teksavy enough to recover the coins myself from the blockchain. In light of this lousy customer support, I will have to rethink if I do business with ShapeShift in the future.
Dear ######,
Thanks for keeping in touch. ShapeShift generally does not provide recovery of tokens mistakenly sent cross-chain and will attempt to recover deposits at our discretion. We recover tokens only if a significant loss is experienced by the user. Not all tokens are recoverable. Token recovery cross-chain is complex, time-consuming, and a potential security risk.
There is no timeframe or time limit for any discretionary recovery process to be undertaken by ShapeShift. A fee will be incurred if a recovery is feasible - the fee will reflect the level of effort and developer time consumed. A successful outcome cannot be guaranteed.
#### ####### Customer Support Team Lead Certified Bitcoin Professional (CBP)
submitted by mTORrero to monerosupport [link] [comments]

How-to: setup your multisignature Cold wallet in Bitcoin Core 0.20 (highest security setup)

Last release of Core is amazing !
The main new feature is sortedmulti descriptor. This allows you to import your multisig setup in Core almost as if it was Electrum when combine to the new PSBT export in GUI !
As it needs command line and some weird checksum, you also need to input very long command in the console and if you made a mistake, you cannot copy the last command you made. So take your time when the commands are long to check everything and don't miss anything, use copy paste before validating the long command. You only have to do this once fortunately :)
I detail here how you do it with a k of n setup, good luck:
And you are DONE ! You should get the exact same addresses than Electrum and you can created receiving addresses in Qt ! To send money, just go to the send section, use the new coin control feature and export a partially signed transaction. You can use HWI or Electrum to sign it with your hardware wallets !
Notice: You can import more or less than 2000 addresses of each type. If less, blockchain rescan is faster but you may need to redo what we have done here later when all addresses will have been used once. If more, it is the contrary.

You now have the most possibly secure setup in one software: multisig with hardware on the full node wallet. When Bitcoin Core 0.21.0 will be out, we will also have native descriptor wallet so maybe we will have HD version of this. But for now, this is the best you can do ! Enjoy :)

P.S. : if you like doing things in one shot you can do the last two steps in one big command: importmulti '[{"desc": "wsh(sortedmulti(k,[path1]xpub1.../0/*,[path2]xpub2.../0/*,...,[pathn]xpubn/0/*))#check_sum0", "timestamp": birth_timestamp, "range": [0,2000], "watchonly": true, "keypool": true}, {"desc": "wsh(sortedmulti(k,[path1]xpub1.../1/*,[path2]xpub2.../1/*,...,[pathn]xpubn/1/*))#check_sum1", "timestamp": birth_timestamp, "range": [0,2000], "watchonly": true, "internal": true}]'
submitted by Pantamis to Bitcoin [link] [comments]

Partially redeeming a Casascius physical bitcoin - help request

Overview of problem
I have a Casascius physical bitcoin and I am unable to add its digital contents to a wallet. It seems that the key is not the right length or format. I started to get out of my depth with talk of things like a Minikey format.
I removed the hologram when I was given it years ago as I was curious what was under there. I don't want to sell it instead I want to add its 1 BTC value to a wallet so I can partially redeem it and keep the physical brass as a collectible.
What I have observed and tried (apologies in advance for butchering terms)
I've searched several sites, including here and haven't been able to find a current answer for the new style of keys and wallets.
I put the seven character code from the hologram into the casascius.uberbills dot com site and it gives me a 33 character key, tells me it's version 2 and confirms that it has a 1 BTC value
I've tried to import it into a Blockchain wallet but get the error "this private key does not match the watch only address above" when I enter the private key under the hologram. For some reason it seems like a different public address is generated when I enter the 33 char code.
I tried to import it into a Jaxx Liberty wallet but it doesn't recognise the minikey or 33 char code as valid.
I've basically run up against my level of knowledge and don't know what the next steps are of if I'm missing something bleeding obvious. I double and triple checked any data entry because I saw this was a common problem.
I'd really appreciate any help or pointers the community can give me.
I followed the advice given by u/murbul in reply to my post
You might struggle to find a wallet that natively supports MINI keys these days since it's an old format that never really took off apart from Casascius coins. So your best bet is to use a tool to convert it to a real private key (starting with 5) and import/sweep that into a wallet.
You can convert it on the Wallet Details tab of - For 1 BTC I'd be paranoid enough to recommend downloading the source and doing everything offline:
I used the site and one of the keys generated was one starting with '5' (Private Key WIF). I used this in Jaxx Liberty in the 'Paper Wallet Import' function under tools and it came right across.
I’m very happy.
submitted by PickledNumbat to Bitcoin [link] [comments]

The problem with segwit noone talks about

While we all know that segwit does help to reduce overall transaction fees the problem with it I'd like to focus on is reduced privacy on the blockchain.
Okay, so what's the problem exactly?
Currently there are 3 different Bitcoin address formats: legacy (starts with 1), segwit (starts with 3) and native segwit (starts with bc1q). Bitcoin's privacy relies sorely on the never ending mess of transactions and exponentially increasing amount of addresses (inputs/outputs). And because of the different address types the people use and because those address types are non-convertable it's very easy to spot which output is the actual transaction and which is the change transaction.
Let's take a look at this random transaction I found:
We can see 2 bc1q type addresses sending a payment to:
Can you see the issue I'm talking about? The 3AE address is the destination address while bc1q is the change address and most likely belongs to the original sender. This simple address format analysis took me literally few seconds.
It is not a problem when we do not know who's behind the address but once we target a specific person we can trace his transaction history a lot easier and with higher confidence compared to the times when only 1 address format was available.
block size limit reached -> high fees -> segwit introduced -> reduced privacy
submitted by Zaczer_o to btc [link] [comments]

UMI – the Best of Cryptocurrencies and Fiat Payment Systems

UMI – the Best of Cryptocurrencies and Fiat Payment Systems
Greetings from the UMI Team!
The UMI cryptocurrency has been repeatedly described as a revolution in the payment system market. Most interestingly, in this case, a revolution isn't about the development of any new technologies or formulas. We just selected the best and well-tried technologies and incorporated them into something new. UMI is the best of cryptocurrencies and fiat payment systems––it has comprised all the best features and got rid of the disadvantages.
UMI vs banks
We won't compare the ways UMI and banks operate in detail in order not to get into complex technical issues, which are of no interest to us. Instead, let's have a look at the impact banks have on people on a daily basis and those of fundamental changes UMI makes to the services we regularly use.
There are banks that allow you to make financial transfers. Banks have savings accounts where money grows at a certain interest rate. Banks also have a range of mobile apps and online banking systems. All of that may appear pretty convenient. But keep in mind, the banking infrastructure, as well as VISA and MasterCard payment systems, were created long ago and based on old technologies. They are not conforming to present-day developments, mostly because they cannot ensure their users a sufficient security level.
With this in mind, instead of inventing something new, UMI improves the things that everyone is accustomed to. The result is a digital payment tool working in an absolutely familiar way. Conducting transfers with UMI is similar to making them via a bank. And even the format of UMI is much alike to conventional money––UMI and UMI-cents are the equivalent of the dollar and cents.
In UMI, just as in a bank, you have a current account (standard UMI address) and savings account––addresses used by structures for UMI staking. You can transfer money from one account to the other one in one click. The difference is that, in most banks, you receive your interest in a month at the earliest. In other words, you can get your money back with interest if you kiss it goodbye for 30 days, minimum. In UMI, earnings are accrued every second––you don't have to wait a long time for "your funds to be unlocked".
But what is the most significant is dividends. UMI staking allows any network user to earn up to 40% per month. Holding your money in a savings account even for a year, much less for a month, you will never make this profit. Why?
1) Because banks make good money on your deposits, instead of paying higher interests, they take the lion's share of what they could pay you into their pocket.
2) Secondly, a large part of your deposits is used to maintain the banking infrastructure: salaries for staff, rental payments, maintenance of offices, utility bills, and other various expenses.
3) Third, banks are not interested in making people rich, because otherwise, they will not be able to make money on loans and control people.
Let's not spout out empty rhetoric, but move on instead. The VISA and MasterCard payment systems declare their ability to process thousands of transactions per second, but in real fact, even if received funds are displayed instantly in your account, you receive a transfer after a few days only. Especially if it concerns international money transfers or ATM transfers. The truth is that VISA and MasterCard transfers are delayed by a series of confirmations required by banks and actually reach a recipient's account only in a few days.
After having been sent, any transaction can be blocked or canceled, and funds in your account can be frozen on the slightest suspicion. Even if before receiving all the confirmations required by banks, you have already withdrawn the funds via an ATM or transferred them to someone, the bank may take this amount from your account a few days later. Thus, you may surprisingly find out that your balance is negative. Keep in mind that banks charge transaction fees. Fees for oversea transfers may range from $10 up to 10% of the transaction amount. Thus, instead of $1,000, a recipient receives only $900.
The UMI network uses validator nodes which in a couple of seconds verify the correctness of transactions and allow users to check their balance for the sufficiency of funds. All transactions are instant. A transfer cannot be canceled or blocked, as well as money in your account cannot be frozen. Unlike VISA and MasterCard, transferred funds are available straight after a transaction has been added to the blockchain. Moreover, no fees are charged for that. Each and every transaction, international or not, is completely free.
Don't forget about permanent internet connection, which is required for conducting transactions with VISA and MasterCard. A validator node used by the UMI network can create any transaction, even offline one, with no Internet connection. You can send a transaction to the network via Wi-Fi, Bluetooth, or even a radio wave. Therefore, if there were a sudden cataclysm and people from all over the globe lost internet connection, the UMI network would easily adapt to new conditions and keep working.
UMI vs Bitcoin
Now let's compare the UMI network with the first-ever created cryptocurrency––Bitcoin. It has proved itself to be a reliable payment system, with a number of significant disadvantages, though. Let's focus on the most essential ones.
1) The transaction processing capacity of the bitcoin network is limited by the network itself. In the best-case scenario, it takes users several tens of minutes to receive their funds. However, quite often there is a several-hour, or even several-day, delay.
2) High fees. When the network is experiencing an increased load, transfer fees can skyrocket immensely. In 2017, there were cases where Bitcoin transaction fee reached a high of around $40. Under normal conditions, it's not that bad. A few-dollar fees are common for Bitcoin users.
3) Centralized mining pools. In the pursuit of profit from mining, greed-driven participants join mining pools thus undermining the idea behind decentralization and leading to centralization. The reality is that if several leading pools unite, they will control most of the hashing power and will be able to perform a 51% attack. The attackers will be able to send nonexistent bitcoins, confirm invalid transactions, and roughly speaking, manipulate the network as they like.
Bitcoin Mining Pools Statistics Source.

The reality is that we have a slow network that creates problems for itself. Moreover, if we talk about Bitcoin in terms of programming, the Bitcoin network is more similar to physical fiat money. For this reason, any actions with the code, including the development of wallets and applications, are a tough non-typical task that only the most advanced blockchain specialists can cope with.
While using the same technologies that Bitcoin is based on, UMI betters its disadvantages and incorporates only benefits. The network doesn't limit the block processing time, but instead, do everything to shorten the processing time and increase the network capacity. Modern cryptography algorithms reduce the load on nodes, thus allowing them to process more transactions with spending less computing power. The UMI network can process 500 million transactions carried out in the Bitcoin network over 12 years in less than a week. Each transaction will be completely free.
The concept of balances UMI uses is different from that of fiat money, but has a lot in common with the idea of digital money. For this reason, using UMI is so extremely easy. In a similar way, it simplifies the process of developing and maintaining new wallets and other applications. Contributing to the UMI ecosystem's growth is extremely convenient.
So, what's the most essential? Over its 10-year history, Bitcoin has demonstrated that its implementation of the idea of decentralization doesn't work at all. This is why UMI is based on decentralization implemented in a different way. Unlike Bitcoin mining pools, users join structures that help the network grow and support its effective functioning, with no threat to its security.
UMI is something that we all already use, but much better.
Consequently, UMI is not about anything super-unique, beyond understanding and comprehension. This is about the same old money that we use on a day-to-day basis. The same financial transfers, the same deposits that we have in banks, and the same blockchain technology and decentralization that Bitcoin is based on. The only difference is that UMI implements all the above-mentioned features in a lot better and higher performing way –– which is more convenient, secure, and higher-quality. UMI is a twenty-first-century universal money tool working for the sake of all people!
submitted by UMITop to u/UMITop [link] [comments]

Polkadot Launch AMA Recap

Polkadot Launch AMA Recap

The Polkadot Telegram AMA below took place on June 10, 2020
AMA featured:
Dieter Fishbein, Ecosystem Development Lead, Web3 Foundation
Logan Saether, Technical Education, Web3 Foundation
Will Pankiewicz, Master of Validators, Parity Technologies
Moderated by Dan Reecer, Community and Growth, Polkadot & Kusama at Web3 Foundation

Transcription compiled by Theresa Boettger, Polkadot Ambassador:

Dieter Fishbein, Ecosystem Development Lead, Web3 Foundation

Dan: Hey everyone, thanks for joining us for the Polkadot Launch AMA. We have Dieter Fishbein (Head of Ecosystem Development, our business development team), Logan Saether (Technical Education), and Will Pankiewicz (Master of Validators) joining us today.
We had some great questions submitted in advance, and we’ll start by answering those and learning a bit about each of our guests. After we go through the pre-submitted questions, then we’ll open up the chat to live Q&A and the hosts will answer as many questions as they can.
We’ll start off with Dieter and ask him a set of some business-related questions.

Dieter could you introduce yourself, your background, and your role within the Polkadot ecosystem?

Dieter: I got my start in the space as a cryptography researcher at the University of Waterloo. This is where I first learned about Bitcoin and started following the space. I spent the next four years or so on the investment team for a large asset manager where I primarily focused on emerging markets. In 2017 I decided to take the plunge and join the space full-time. I worked at a small blockchain-focused VC fund and then joined the Polkadot team just over a year ago. My role at Polkadot is mainly focused on ensuring there is a vibrant community of projects building on our technology.

Q: Adoption of Polkadot of the important factors that all projects need to focus on to become more attractive to the industry. So, what is Polkadot's plan to gain more Adoption? [sic]

A (Dieter): Polkadot is fundamentally a developer-focused product so much of our adoption strategy is focused around making Polkadot an attractive product for developers. This has many elements. Right now the path for most developers to build on Polkadot is by creating a blockchain using the Substrate framework which they will later connect to Polkadot when parachains are enabled. This means that much of our adoption strategy comes down to making Substrate an attractive tool and framework. However, it’s not just enough to make building on Substrate attractive, we must also provide an incentive to these developers to actually connect their Substrate-based chain to Polkadot. Part of this incentive is the security that the Polkadot relay chain provides but another key incentive is becoming interoperable with a rich ecosystem of other projects that connect to Polkadot. This means that a key part of our adoption strategy is outreach focused. We go out there and try to convince the best projects in the space that building on our technology will provide them with significant value-add. This is not a purely technical argument. We provide significant support to projects building in our ecosystem through grants, technical support, incubatoaccelerator programs and other structured support programs such as the Substrate Builders Program ( I do think we really stand out in the significant, continued support that we provide to builders in our ecosystem. You can also take a look at the over 100 Grants that we’ve given from the Web3 Foundation:

Q: On moving forward through your roadmap, what are your most important next priorities? Does the Polkadot team have enough fundamentals (Funds, Community, etc.) to achieve those milestones?

A (Dieter): I would say the top priority by far is to ensure a smooth roll-out of key Polkadot features such as parachains, XCMP and other key parts of the protocol. Our recent Proof of Authority network launch was only just the beginning, it’s crucial that we carefully and successfully deploy features that allow builders to build meaningful technology. Second to that, we want to promote adoption by making more teams aware of Polkadot and how they can leverage it to build their product. Part of this comes down to the outreach that I discussed before but a major part of it is much more community-driven and many members of the team focus on this.
We are also blessed to have an awesome community to make this process easier 🙂

Q: Where can a list of Polkadot's application-specific chains can be found?

A (Dieter): The best list right now is This is a community-led effort and the team behind it has done a terrific job. We’re also working on providing our own resource for this and we’ll share that with the community when it’s ready.

Q: Could you explain the differences and similarities between Kusama and Polkadot?

A (Dieter): Kusama is fundamentally a less robust, faster-moving version of Polkadot with less economic backing by validators. It is less robust since we will be deploying new technology to Kusama before Polkadot so it may break more frequently. It has less economic backing than Polkadot, so a network takeover is easier on Kusama than on Polkadot, lending itself more to use cases without the need for bank-like security.
In exchange for lower security and robustness, we expect the cost of a parachain lease to be lower on Kusama than Polkadot. Polkadot will always be 100% focused on security and robustness and I expect that applications that deal with high-value transactions such as those in the DeFi space will always want a Polkadot deployment, I think there will be a market for applications that are willing to trade cheap, high throughput for lower security and robustness such as those in the gaming, content distribution or social networking sectors. Check out - for more detailed info!

Q: and for what reasons would a developer choose one over the other?

A (Dieter): Firstly, I see some earlier stage teams who are still iterating on their technology choosing to deploy to Kusama exclusively because of its lower-stakes, faster moving environment where it will be easier for them to iterate on their technology and build their user base. These will likely encompass the above sectors I identified earlier. To these teams, Polkadot becomes an eventual upgrade path for them if, and when, they are able to perfect their product, build a larger community of users and start to need the increased stability and security that Polkadot will provide.
Secondly, I suspect many teams who have their main deployment on Polkadot will also have an additional deployment on Kusama to allow them to test new features, either their tech or changes to the network, before these are deployed to Polkadot mainnet.

Logan Saether, Technical Education, Web3 Foundation

Q: Sweet, let's move over to Logan. Logan - could you introduce yourself, your background, and your role within the Polkadot ecosystem?

A (Logan): My initial involvement in the industry was as a smart contract engineer. During this time I worked on a few projects, including a reboot of the Ethereum Alarm Clock project originally by Piper Merriam. However, I had some frustrations at the time with the limitations of the EVM environment and began to look at other tools which could help me build the projects that I envisioned. This led to me looking at Substrate and completing a bounty for Web3 Foundation, after which I applied and joined the Technical Education team. My responsibilities at the Technical Education team include maintaining the Polkadot Wiki as a source of truth on the Polkadot ecosystem, creating example applications, writing technical documentation, giving talks and workshops, as well as helping initiatives such as the Thousand Validator Programme.

Q: The first technical question submitted for you was: "When will an official Polkadot mobile wallet appear?"

A (Logan): There is already an “official” wallet from Parity Technologies called the Parity Signer. Parity Signer allows you to keep your private keys on an air-gapped mobile device and to interactively sign messages using web interfaces such as Polkadot JS Apps. If you’re looking for something that is more of an interface to the blockchain as well as a wallet, you might be interested in PolkaWallet which is a community team that is building a full mobile interface for Polkadot.
For more information on Parity Signer check out the website:

Q: Great thanks...our next question is: If someone already developed an application to run on Ethereum, but wants the interoperability that Polkadot will offer, are there any advantages to rebuilding with Substrate to run as a parachain on the Polkadot network instead of just keeping it on Ethereum and using the Ethereum bridge for use with Polkadot?

A (Logan): Yes, the advantage you would get from building on Substrate is more control over how your application will interact with the greater Polkadot ecosystem, as well as a larger design canvas for future iterations of your application.
Using an Ethereum bridge will probably have more cross chain latency than using a Polkadot parachain directly. The reason for this is due to the nature of Ethereum’s separate consensus protocol from Polkadot. For parachains, messages can be sent to be included in the next block with guarantees that they will be delivered. On bridged chains, your application will need to go through more routes in order to execute on the desired destination. It must first route from your application on Ethereum to the Ethereum bridge parachain, and afterward dispatch the XCMP message from the Polkadot side of the parachain. In other words, an application on Ethereum would first need to cross the bridge then send a message, while an application as a parachain would only need to send the message without needing to route across an external bridge.

Q: DOT transfers won't go live until Web3 removes the Sudo module and token holders approve the proposal to unlock them. But when will staking rewards start to be distributed? Will it have to after token transfers unlock? Or will accounts be able to accumulate rewards (still locked) once the network transitions to NPoS?

A (Logan): Staking rewards will be distributed starting with the transition to NPoS. Transfers will still be locked during the beginning of this phase, but reward payments are technically different from the normal transfer mechanism. You can read more about the launch process and steps at

Q: Next question is: I'm interested in how Cumulus/parachain development is going. ETA for when we will see the first parachain registered working on Kusama or some other public testnet like Westend maybe?

A (Logan): Parachains and Cumulus is a current high priority development objective of the Parity team. There have already been PoC parachains running with Cumulus on local testnets for months. The current work now is making the availability and validity subprotocols production ready in the Polkadot client. The best way to stay up to date would be to follow the project boards on GitHub that have delineated all of the tasks that should be done. Ideally, we can start seeing parachains on Westend soon with the first real parachains being deployed on Kusama thereafter.
The projects board can be viewed here:
Dan: Also...check out Basti's tweet from yesterday on the Cumulus topic:

Q: In what ways does Polkadot support smart contracts?

A (Logan): The philosophy behind the Polkadot Relay Chain is to be as minimal as possible, but allow arbitrary logic at the edges in the parachains. For this reason, Polkadot does not support smart contracts natively on the Relay Chain. However, it will support smart contracts on parachains. There are already a couple major initiatives out there. One initiative is to allow EVM contracts to be deployed on parachains, this includes the Substrate EVM module, Parity’s Frontier, and projects such as Moonbeam. Another initiative is to create a completely new smart contract stack that is native to Substrate. This includes the Substrate Contracts pallet, and the ink! DSL for writing smart contracts.
Learn more about Substrate's compatibility layer with Ethereum smart contracts here:

Will Pankiewicz, Master of Validators, Parity Technologies

Q: (Dan) Thanks for all the answers. Now we’ll start going through some staking questions with Will related to validating and nominating on Polkadot. Will - could you introduce yourself, your background, and your role within the Polkadot ecosystem?

A (Will): Sure thing. Like many others, Bitcoin drew me in back in 2013, but it wasn't until Ethereum came that I took the deep dive into working in the space full time. It was the financial infrastructure aspects of cryptocurrencies I was initially interested in, and first worked on dexes, algorithmic trading, and crypto funds. I really liked the idea of "Generalized Mining" that CoinFund came up with, and started to explore the whacky ways the crypto funds and others can both support ecosystems and be self-sustaining at the same time. This drew me to a lot of interesting experiments in what later became DeFi, as well as running validators on Proof of Stake networks. My role in the Polkadot ecosystem as “Master of Validators” is ensuring the needs of our validator community get met.

Q: Cool thanks. Our first community question was "Is it still more profitable to nominate the validators with lesser stake?"

A (Will): It depends on their commission, but generally yes it is more profitable to nominate validators with lesser stake. When validators have lesser stake, when you nominate them this makes your nomination stake a higher percentage of total stake. This means when rewards get distributed, it will be split more favorably toward you, as rewards are split by total stake percentage. Our entire rewards scheme is that every era (6 hours in Kusama, 24 hours in Polkadot), a certain amount of rewards get distributed, where that amount of rewards is dependent on the total amount of tokens staked for the entire network (50% of all tokens staked is currently optimal). These rewards from the end of an era get distributed roughly equally to all validators active in the validator set. The reward given to each validator is then split between the validators and all their nominators, determined by the total stake that each entity contributes. So if you contribute to a higher percentage of the total stake, you will earn more rewards.

Q: What does priority ranking under nominator addresses mean? For example, what does it mean that nominator A has priority 1 and nominator B has priority 6?

A (Will): Priority ranking is just the index of the nomination that gets stored on chain. It has no effect on how stake gets distributed in Phragmen or how rewards get calculated. This is only the order that the nominator chose their validators. The way that stake from a nominator gets distributed from a nominator to validators is via Phragmen, which is an algorithm that will optimally put stake behind validators so that distribution is roughly equal to those that will get in the validator set. It will try to maximize the total amount at stake in the network and maximize the stake behind minimally staked validators.

Q: On Polkadot.js, what does it mean when there are nodes waiting on Polkadot?

**A (Will):**In Polkadot there is a fixed validator set size that is determined by governance. The way validators get in the active set is by having the highest amount of total stake relative to other validators. So if the validator set size is 100, the top 100 validators by total stake will be in the validator set. Those not active in the validator set will be considered “waiting”.

Q: Another question...Is it necessary to become a waiting validator node right now?

A (Will): It's not necessary, but highly encouraged if you actively want to validate on Polkadot. The longer you are in the waiting tab, the longer you get exposure to nominators that may nominate you.

Q: Will current validators for Kusama also validate for Polkadot? How strongly should I consider their history (with Kusama) when looking to nominate a good validator for DOTs?

A (Will): A lot of Kusama validators will also be validators for Polkadot, as KSM was initially distributed to DOT holders. The early Kusama Validators will also likely be the first Polkadot validators. Being a Kusama validator should be a strong indicator for who to nominate on Polkadot, as the chaos that has ensued with Kusama has allowed validators to battle test their infrastructure. Kusama validators by now are very familiar with tooling, block explorers, terminology, common errors, log formats, upgrades, backups, and other aspects of node operation. This gives them an edge against Polkadot validators that may be new to the ecosystem. You should strongly consider well known Kusama validators when making your choices as a nominator on Polkadot.

Q: Can you go into more details about the process for becoming a DOT validator? Is it similar as the KSM 1000 validators program?

A (Will): The Process for becoming a DOT validators is first to have DOTs. You cannot be a validator without DOTs, as DOTs are used to pay transaction fees, and the minimum amount of DOTs you need is enough to create a validate transaction. After obtaining enough DOTs, you will need to set up your validator infrastructure. Ideally you should have a validator node with specs that match what we call standard hardware, as well as one or more sentry nodes to help isolate the validator node from attacks. After the infrastructure is up and running, you should have your Polkadot accounts set up right with a stash bonded to a controller account, and then submit a validate transaction, which will tell the network your nodes are ready to be a part of the network. You should then try and build a community around your validator to let others know you are trustworthy so that they will nominate you. The 1000 validators programme for Kusama is a programme that gives a certain amount of nominations from the Web3 Foundation and Parity to help bootstrap a community and reputation for validators. There may eventually be a similar type of programme for Polkadot as well.
Dan: Thanks a lot for all the answers, Will. That’s the end of the pre-submitted questions and now we’ll open the chat up to live Q&A, and our three team members will get through as many of your questions as possible.
We will take questions related to business development, technology, validating, and staking. For those wondering about DOT:
DOT tokens do not exist yet. Allocations of Polkadot's native DOT token are technically and legally non-transferable. Hence any publicized sale of DOTs is unsanctioned by Web3 Foundation and possibly fraudulent. Any official public sale of DOTs will be announced on the Web3 Foundation website. Polkadot’s launch process started in May and full network decentralization later this year, holders of DOT allocations will determine issuance and transferability. For those who participated in previous DOT sales, you can learn how to claim your DOTs here (

Telegram Community Follow-up Questions Addressed Below

Q: Polkadot looks good but it confuses me that there are so many other Blockchain projects. What should I pay attention in Polkadot to give it the importance it deserves? What are your planning to achieve with your project?

A (Will): Personally, what I think differentiates it is the governance process. Coordinating forkless upgrades and social coordination helps stand it apart.
A (Dieter): The wiki is awesome -

Q: Over 10,000 ETH paid as a transaction fee , what if this happens on Polkadot? Is it possible we can go through governance to return it to the owner?

A: Anything is possible with governance including transaction reversals, if a network quorum is reached on a topic.
A (Logan): Polkadot transaction fees work differently than the fees on Ethereum so it's a bit more difficult to shoot yourself in the foot as the whale who sent this unfortunate transaction. See here for details on fees:
However, there is a tip that the user can input themselves which they could accidentally set to a large amount. In this cases, yes, they could proposition governance to reduce the amount that was paid in the tip.

Q: What is the minimum ideal amount of DOT and KSM to have if you want to become a validator and how much technical knowledge do you need aside from following the docs?

A (Will): It depends on what the other validators in the ecosystem are staking as well as the validator set size. You just need to be in the top staking amount of the validator set size. So if its 100 validators, you need to be in the top 100 validators by stake.

Q: Will Web3 nominate validators? If yes, which criteria to be elected?

A (Will): Web 3 Foundation is running programs like the 1000 validators programme for Kusama. There's a possibility this will continue on for Polkadot as well after transfers are enabled.
You will need to be an active validator to earn rewards. Only those active in the validator set earn rewards. I would recommend checking out parts of the wiki:

Q: Is it possible to implement hastables or dag with substrate?

A (Logan): Yes.

Q: Polkadot project looks very futuristic! But, could you tell us the main role of DOT Tokens in the Polkadot Ecosystem?

A (Dan): That's a good question. The short answer is Staking, Governance, Bonding. More here:

Q: How did you manage to prove that the consensus protocol is safe and unbreakable mathematically?

A (Dieter): We have a research teams of over a dozen scientists with PhDs and post-docs in cryptography and distributed computing who do thorough theoretical analyses on all the protocols used in Polkadot

Q: What are the prospects for NFT?

A: Already being built 🙂

Q: What will be Polkadot next roadmap for 2020 ?

A (Dieter): Building. But seriously - we will continue to add many more features and upgrades to Polkadot as well as continue to strongly focus on adoption from other builders in the ecosystem 🙂
A (Will):
This is the launch roadmap. Ideally adding parachains and xcmp towards the end of the year

Q: How Do you stay active in terms of marketing developments during this PANDEMIC? Because I'm sure you're very excited to promote more after this settles down.

A (Dan): The main impact of covid was the impact on in-person events. We have been very active on Crowdcast for webinars since 2019, so it was quite the smooth transition to all-online events. You can see our 40+ past event recordings and follow us on Crowdcast here: If you're interested in following our emails for updates (including online events), subscribe here:

Q: Hi, who do you think is your biggest competitor in the space?

A (Dan): Polkadot is a metaprotocol that hasn't been seen in the industry up until this point. We hope to elevate the industry by providing interoperability between all major public networks as well as private blockchains.

Q: Is Polkadot a friend or competitor of Ethereum?

A: Polkadot aims to elevate the whole blockchain space with serious advancements in interoperability, governance and beyond :)

Q: When will there be hardware wallet support?

A (Will): Parity Signer works well for now. Other hardware wallets will be added pretty soon

Q: What are the attractive feature of DOT project that can attract any new users ?

A (Will): Buidling parachains with cross chain messaging + bridges to other chains I think will be a very appealing feature for developers

Q: According to you how much time will it take for Polkadot to get into mainstream adoption and execute all the plans set for this project?

A: We are solving many problems that have held back the blockchain industry up until now. Here is a summary in basic terms:

Q: When will bitpie or imtoken support DOT?

A: We are working on integrations on all the biggest and best wallet providers. ;)

Q: What event/call can we track to catch a switch to nPOS? Is it only force_new_era call? Thanks.

A (Will): If you're on riot, useful channels to follow for updates like this are and
A (Logan): Yes this is the trigger for initiating the switch to NPoS. You can also poll the ForceEra storage for when it changes to ForceNew.

Q: What strategy will the Polkadot Team use to make new users trust its platform and be part of it?

A (Will): Pushing bleeding edge cryptography from web 3 foundation research
A (Dan):

Q: What technology stands behind and What are its advantages?

A (Dieter): Check out for more info on our tech stack!

Q: What problems do you see occurring in the blockchain industry nowadays and how does your project aims to solve these problems?

A (Will): Governance I see as a huge problem. For example upgrading Bitcoin and making decisions for changing things is a very challenging process. We have robust systems of on-chain governance to help solve these coordination problems

Q: How involved are the Polkadot partners? Are they helping with the development?

A (Dieter): There are a variety of groups building in the Polkadot ecosystem. Check out for a great list.

Q: Can you explain the role of the treasury in Polkadot?

A (Will): The treasury is for projects or people that want to build things, but don't want to go through the formal legal process of raising funds from VCs or grants or what have you. You can get paid by the community to build projects for the community.
A: There’s a whole section on the wiki about the treasury and how it functions here

Q: Any plan to introduce Polkadot on Asia, or rising market on Asia?

**A (Will):**We're globally focused

Q: What kind of impact do you expect from the Council? Although it would be elected by token holders, what kind of people you wish to see there?

A (Will): Community focused individuals like u/jam10o that want to see cool things get built and cool communities form

If you have further questions, please ask in the official Polkadot Telegram channel.
submitted by dzr9127 to dot [link] [comments]

Please, help me recover my old Bitcoins

Hello, beautiful people of Bitcoin!
So, my story goes like this: in 2011 I purchased bitcoins and stored them in a wallet, that was generated by the software on my pc, but for the life of me, I can't remember which soft was that..
I remember it downloading and storing the physical copy of the whole blockchain ledger on my pc, which took swveral days and more than 4gb at the time;
after that I created a wallet and chose a password and it created a physical wallet file on my pc.
That same day I made a transaction from that wallet to a bitcoin wallet of a certain 'deepweb digital marketplace for various chemical substances' and I was left with certain amount of bitcoins on the original wallet.
My current situation:
My question is: what was the default bitcoin wallet software back in 2011?
It created wallet files with .wallet extension, if I remember correctly..
and is there a way, to gain access to the contents of the wallet, if I know the address and the password for that wallet?
Or, if I were to, theoretically, restore that .wallet file from my pc - what would my plan of action be in that case?
Thank you in advance!
submitted by exbitcoiner to Bitcoin [link] [comments]

How Do Ordinary Investors Obtain the Benefits of Polkadot and Its Ecological Projects?

How Do Ordinary Investors Obtain the Benefits of Polkadot and Its Ecological Projects?
As the most anticipated blockchain project this year, the advantages of Polkadot (The token ‘s abbreviation is DOT, hereinafter referred to as DOT) in terms of technology and ecology are no need to repeat again in that a large number of articles have conducted in-depth analysis of this.
This article will try to analyze from a new perspective whether DOT has the potential to become a new financing method for the industry, and on this premise, analyze its development and prospects.
At the same time, this article will also point out how we ordinary investors can obtain the benefits of Polkadot and its related ecological projects.
Whether Polkadot Can Become A New Financing Method to Determine the Project Ceiling?
At present, the blockchain project's own business cannot generate cash flow. The circulating market value and token price are completely affected by the inflow and outflow of funds, resulting in business such as lock-up, token burning, and DeFi to stimulate the needs of buying.
Therefore, whether a project can become a new financing method will determine the ceiling value of the project's market value and token price.
For example, the emergence of Ethereum in 2017 led to the rise of ICO, which gave birth to a unique blockchain format that development after financing. For the ICO project based on ERC20, because the early development is based on the Ethereum public chain, its financing is conducted in Ethereum.
CoinMarketCap data shows that the price of ETH was $8.13 on January 1, 2017, and the highest price for the year was $879.12. On December 31, 2017, ETH closed at $726.56, an annual increase of 89.37 times, and the highest increase was 108.13 times.
Similarly, the IEO rose in 2019 has made the token of an exchange a new financing method. The platform token represented by BNB all achieved good gains in that year.
Can Polkadot Become A New Financing Method?
Polkadot has the potential to become a new financing method,which mainly from three aspects:
  1. Slots Auction
  2. Web3.0 Foundation Project Incubation
  3. Substrate Parallel Chain Construction
About slot auctions. As we all know Polkadot is a cross-chain project, the main chain is called a relay chain, and the project access to the slots of the relay chain can achieve cross-chain, the structure is similar to an airport.
The relay chain is equivalent to the main building of the airport, and the slot is equivalent to the gate. The flight needs to be connected to the gate to realize passenger connection.
At present, there are four types of parallel chains managed by the Web3 Foundation:
  1. Ethereum-Polkadot, which is the cross-chain of Ethereum and Polkadot.
  2. Bitcoin-Polkadot, the cross-chain of Bitcoin andPolkadot.
  3. Edgeware, a smart contract project on Polkadot.
  4. Critical infrastructure projects, such as DEX or stablecoins.
If other projects want to connect to cross-chain of Polkadot, you need to use DOT to rent slots, and slot rental is time-limited and not unlimited. Therefore, if the project party wants to access the cross-chain of Polkadot, it needs to purchase DOT from the secondary market to lease the slot.
More importantly, the number of Polka Slots is limited. The initial plan increased from 5 to 50, and gradually increased to 200 thereafter.
Besides, the Web3 Foundation behind Polkadot commits large fund to incubate projects. As of now, the Web3 Foundation has incubates more than 100 projects, and all of these projects will have the opportunity to be connected to the Polkadot cross-chain.
On a offline meetup with Gavin Wood, founder of Polkadot about Substrate parallel chain construction, he said it is able to release a new blockchain based on Substrate in 15 minutes at an offline event.
This not only means that Polkadot is powerful, but also that Polkadot will attract many projects that do not focus on technology.
In fact, not all blockchain projects are good at or focus on technology research and development. Instead, most projects actually pay more attention to scene realization or capital operation.
The release of a new blockchain based on Polkadot Substrate can help these projects save a lot of time and personnel costs. Therefore it is naturally attractive to these projects.
Based on the three reasons above, Polkadot has the potential to become a new financing method.
How do ordinary investors obtain Polkadot's cross-chain conceptual income?
First of all, investors who have participated in Polkadot private sale can choose to pledge DOT on the official website to obtain the POS yield as verification node.
In addition, you can also claim DOT mainnet assets on MXC for trading. On June 29, MXC announced support for Polkadot (DOT) asset mapping. Successful mapping is regarded as receiving Polkadot mainnet assets.
According to the official introduction, users can visit the MXC official website homepage, find "Assets" at the upper right corner, click "My Assets", select "Deposit", choose DOT (Polkadot) and click to get deposit address and copy.In a later stage, MXC POS Pool will also launch DOT's Staking products. Related announcement:
MXC, Huobi and BTCMAX and other trading platforms have used their own foundations to participate in the private sale of the Polkadot (DOT). Therefore, the DOT/USDT trading pair on MXC is not exactly the IOU token.
Users who did not hold DOT in the early stage can consider holding it according to their own situation.
On the other hand, Poka is expected to open the transfer function in August when it will be officially launched on major exchanges. At present, KSM, EDG, PCX, AKRO and other Polkadot ecological projects have been launched on major exchanges, as shown in the figure below.
(Please note that the transfer function of the DOT is not enabled, and MXC supports DOT main network asset mapping. therefore, It is recommended to trade on MXC.)
It can be seen from the figure that the MXC currently listed most Polkadot ecological projects and is currently the main trading field of the Polkadot projects.
When there is related progress in the construction of the Polkadot network, its ecological projects tend to show a trend of linkage. For example, with the favorable news that MXC support users to claim DOT, PCX, one of the project in Polkadot ecosystem rose 5% in 24 hours and it still stay strong momentum.
In summary, how to continuously attract capital is the determinant of the market value and price of blockchain projects. The concept of a hot market at a certain stage often exists as a financing method, such as ETH,platform token, and so on.
While the slot auction, Web3.0 Foundation project incubation, and the construction based on Substrate parallel chain will help Polkadot to become the next financing method.
Ordinary investors can make arrangement on DOT and its ecological projects in advance, or pledge the DOT to obtain staking yield in ways that participate in the dividend of Polkadot development. As far as the listing projects are concerned, MXC is currently list most Polkadot projects among all exchanges, so it is expected to become the main trading field of Polkadot.
submitted by SimonZhu666 to MXCexchange [link] [comments]

Let's play sweepstakes: $60 in prizes

So, we have $60 in Bitcoin Cash to give away.
The rules are simple:
1) To enter to win $50 in Bitcoin Cash post a comment here with your address like this: before the block hash from 2) is announced. (Optionally, you might add a short intro to your comment introducing what you write about and a few links to your interesting articles, though it's fine to just post your profile URL)
2) $10 in Bitcoin Cash will be given to the first non-edited comment that posts block #632825 hash (from here for example). It should happen approximately when this post is 22 hours old. Don't edit your comment, edited comments will be skipped. You may post your URL, bitcoincash address or we'll just PM you if you're the first unedited comment with the block hash.
3) Bitcoin Cash blockchain determines the winner
We'll take all the profile URLs below the correct hash (sorted by "new") and sort them alphabetically.
Let's say there are 12 participants.
We'll take last 6 digits from the block's hash, for example: ...5bd01f
convert it to decimal (Google "0x5bd01f to decimal") = 6017055
take a 6017055 mod number of participants (12) = Google "6017055 mod 12" = 3
So the participant #3 wins.
Note that numbering will start with zero, because "mod" ("remainder") can be zero
Only unique profile links will be considered, so don't post twice.
We'll pay $50 in Bitcoin Cash to winner's account and update this post with the winner info.
Good luck!
EDIT: Formatting
EDIT2: Added the (sorted by "new") clarification
EDIT3: Adding to the participants - his comment isn't visible for some reason
EDIT4: So, The winner of $10 is u/ramonoropeza ! 🎉 Congratulations!
We're compiling the list of participants and determining the winner. We'll update this in about 30 minutes!
EDIT5: Participants (sorted alphabetically)
0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 
18 participants
Block Hash: 00000000000000000461afbec5258f50fcdd13616efcc4f9719ba19a06a765ea
Last 6 digits: a765ea
Decimal is: 10970602
10970602 mod 18 = 16
The winner determined by the Bitcoin Cash blockchain is 🎉
EDIT6: Bitcoin Cash has been sent. To protect the privacy of the participants we won't show the tx hash, but if you haven't received it for some reason, please send me a message!
submitted by readcash to btc [link] [comments]

According to Analyst Ethereum could face a short crash

Bitcoin's little brother Ethereum has been surprisingly stable in recent weeks. In the opinion of a crypto expert, however, this could soon be over.
Since the price slump in March caused by the corona panic, Ethereum has so far recovered well.
Although the cryptocurrency is still far from the 52-week high that it reached in July 2019, the cyber device is still on the up.
In the past few weeks, internet money has shown surprisingly little volatility and only fluctuated within very narrow ranges.

Chart technique indicates Ethereum price decline

However, crypto expert Edward Morra recently warned on Twitter that the sideways movement could soon be over.
Morra uses an Ethereum chart to explain this, which he believes shows the formation of a "Chuvashov fork". According to him, the Ethereum price could drop to around $ 175 if this fork broke and the Ethereum price fell below the $ 220 mark.
That would correspond to a slump of around 30 percent compared to the current price. For this reason, the Ethereum expert advises put options to minimize the risk. This is also recommended as these are currently very cheap.

Active Ethereum wallets at two-year high

But even if the Ethereum course could go downhill in the short term, the acceptance of cyberdevise seems to continue to increase.
As data from the blockchain analysis portal Glassnode, which are available from BTC Echo, show, the number of active Etherum wallets has only recently reached its highest level in two years.
It is also interesting to see that the number of active Ethereum addresses correlates less and less with the price of an Ethereum.
Glassnode data show that the number of active wallets has increased significantly since the beginning of the year, whereas the Ethereum price remained within narrow ranges.

More scalability is urgently needed

However, as BTC Echo points out, the upcoming Hard Fork Ethereum from the proof-of-work process to the proof-of-stake process could prove to be vital for the cyber device.
This is the only way to achieve the necessary scalability that would help Ethereum to remain relevant to the "decentralized financial system" (DeFi).
After all, there are already other cryptocurrencies that would rely on a mechanism without a miner from the start and would already be efficient enough to be used on the DeFi platform.
Cardano is a prime example of such a cyber device. Cardano has only recently seen a rapid upturn and is currently in seventh place in terms of market capitalization among e-currencies.
The future of Ethereum also depends on the extent to which the cryptocurrency continues to develop in order to keep up with the progress in the crypto market.
submitted by jakkkmotivator to thecryptobasic [link] [comments]

Alternatives to

TL;DR: What are some serious alternatives to (free or paid) offering JSON REST API?

Having no time and resources to maintain my own full node/indexer servers, I have used multiple remote APIs to interact with the BCH blockchain. Sadly, most of them are unstable and tend to quickly die.
I have used, which went out of business during last year's hard fork upgrade without prior warning and returning incorrect data to its clients. I have used from BitPay, which returns incorrect data for unconfirmed transactions and also has very little documentation - most of the endpoints are not documented. I have used in the past but they do not support BCH. I tried using but they do not support the CashAddress format (so I assumed it is not maintained).
Finally, the best service I used so far is, it has little downtime and is very well documented. The only issue I faced when I started using it is that it does not serve requests over TOR, which is not a big deal.
The problem is that its quality is decreasing over time. There is more and more downtime, they recently dropped support for testnet ( WITHOUT WARNING and nothing is said about this in the documentation, the site still says it is fully operational and the error message returned says nothing about the endpoint being obsolete/deprecated. Moreover, they do not seem to maintain their repo, tons of issues are open without answer, I submitted a pull request to it and have received no answecomment so far.
I am now looking for serious (reliable, documented...) alternatives. I am willing to pay for an API key. Thank you!
submitted by merc1er to btc [link] [comments]

How to watch blockchain bitcoin Addresses. How to find your Bitcoin Wallet Address on Blockchain Bitcoin Address CraCker To PrivateKey 2020 How to find your bitcoin address on How To Import Funds From Non-Spendable address in Blockchain  With PROOF 2020

You’ve thought about it, now it’s time. Create a Wallet. Sign up for the Exchange. Buy Bitcoin in minutes. What Are Addresses on Blockchains? Blockchain Address 101. In the early days of Bitcoin, it was possible to send payments to an IP-address like (which is This was planned to be a convenient method to use Bitcoins without dealing with unhandy public keys and addresses. This was Bitcoin’s original address format and it still works faithfully to this day. P2PKH, incidentally, stands for Pay-to-Pubkey Hash i.e pay to a hash of the recipient’s public key. Bitcoin address is an identifier (account number), starting with 1 or 3 and containing 27-34 alphanumeric Latin characters (except 0, O, I). Bitcoin addresses can be also represented as a QR-code. The addresses are anonymous and do not contain information about the owner. Explorer Live Data, Charts & Transactions. Buy Bitcoin Trade. Sponsored Content

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How to watch blockchain bitcoin Addresses.

5) If the participant does not have an address for any BITCOIN, then the private key for the new, generated address will appear in your personal BLOCKCHAIN WALLET.., with a refilled POSITIVE ... How to find your Bitcoin Wallet Address on Blockchain - Duration: 1:37. Andy Honeyghan 4,284 views. 1:37. How to watch blockchain bitcoin Addresses. - Duration: 15:25. How to watch blockchain bitcoin Addresses. - Duration: 15:25. marian woods 22,238 views. 15:25. How to set up a Blockchain wallet - Beginners Guide - Duration: 11:40. Advanced-CCPK is short form of the name "Advanced CryptoCurrency PrivateKey". It Converts any Bitcoin address back to its private key so that you can spend funds in it. bitcoin blockchain script, bitcoin blast new script, bitcoinbep script, free bitcoin script 2020 blockchain, bitcoin script channel, bitcoin change address script, bitcoin casino script,

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