Mining mit Grafikkarten: Ethereum und Bitcon schürfen ...

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:
 
Introduction
 
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.
 
Decentralisation
 
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 https://learnscilla.com/home 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 www.zillacracy.com ). 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]

Building an Ethereum Mining Rig (13 GPU) - 4th part

Third update to the guide "Building a Mining Rig for Ethereum". The absolute first guide to building a RX Vega 64 8gb 13 GPU Mining Rig.
Reading this guide to building a 13 GPU Ethereum mining rig requires adequate knowledge of building and running an Ethereum Mining Rig. We therefore recommend a previous view of our Guide to build a Mining Rig and related updates.

Let's immediately list the hardware used:

- Asus Mining Master X370 mainboard
- Core i5 Coffee Lake CPU
- 480 or 500GB SSD
- 32Gb Ram
- 13 GPU RX Vega 64 8Gb
- 3 x 1000W power supplies
- 1 1200W power supply
- 8Gb USB stick

In this guide we will obviously not explain how to mount the hardware of a Rig. The only notes we wish to underline are the following:

- the 1200W power supply must be the primary one on which to connect 4 GPUs and the video output for the monitor

- all the risers, as well as obviously the GPUs, must be powered through the 8-pole connections of the power supplies. We strongly advise against the use of 6-pole ports. Therefore, have the appropriate number of cables available for all connections. Risers can also be powered in pairs.

- the model of the video card used is the Asus Rog Strixx Gaming RX Vega 64 8Gb


The operating system is Windows 10 updated to the latest version available. The tool for creating installation media is available at the following link https://www.microsoft.com/it-it/software-download/windows10 to be able to use the USB key as a launcher for installing Windows 10 .

With the Asus Mining Master, the GPU risers can be connected directly to the motherboard via the USB cable, thus making one of the small components of the riser kits unusable.

After making all the connections on the motherboard, check that all GPUs are highlighted in green when the PC starts up. If not, move the USB cable on the motherboard one position. It may take at least 2 or 3 attempts.

Ethereum mining with 13 GPUs
Having solved this possible small inconvenience, let's proceed with the installation of the AMD Adrenaline 2020 drivers, always updated to the latest version, relating to the RX Vega Series.

If you want to proceed with more caution, the advice is to disconnect all the GPUs (remembering the locations of the USB cables) except one before installing the drivers.

The mining will be carried out on the Ethermine pool, our favorite, using the Claymore 15 software.


Once the download is complete, you will have to unzip the folder on the desktop and open the start.bat file contained in the Claymore folder using Notepad. The procedure is the usual one: delete the content and copy-paste the following command string:

start config.dll -epool eu1.ethermine.org:14444 -ewal "your ETH wallet address" -epsw x -worker "worker"
EthDcrMiner64.exe

Where EthDcrMiner64.exe is the executable, -epool indicates the pool to mine and its port, -ewal is the wallet address and -epsw is the password that we leave blank (X).

In place of "your wallet address" you will have to put your Ethererum wallet and instead of worker you will enter an identification number in case you plan to build more RIGs (such as RIG1, RIG2, etc ...).

At the following link, many other useful commands for your Rig:
https://github.com/Claymore-Dual/Claymore-Dual-Miner

Try to run mining and check that the system is stable.

In the Payouts section, after a few minutes of mining, you can decide the minimum amount of Ether to be sent to your wallet by simply entering the IP address of the RIG.

We performed the mining directly on the Ethereum address of the Exodus wallet. Coinbase is not supported.

Overclocking with OverdriveNTool
Let's proceed now with the download of OverdrivenTool at the following link: https://forums.guru3d.com/threads/overdriventool-tool-for-amd-gpus.416116/


For those unfamiliar with it, we recommend reading our software guide.

For those who do not intend to experiment or do not completely trust their software experience, at the following link you can view the settings on the parameters of the GPUs and the RAM of the GPUs - and other small tricks - to obtain the best possible performance without forcing the cards too much. video.

On our Youtube channel (subscribe numerous !!!) you will now be able to see the video relating to the start of mining and the one concerning the stabilization phase.

To better cool the Rig we have also installed fans for the extraction of heat as caution is never too much. Moreover, there is also an aesthetic gain.

Conclusions on the guide to build a 13 gpu ethereum mining rig.
Finally, we conclude this guide by reporting what everyone was waiting for (we do not say how long we had to wait before obtaining this result) the video link complhttps: //www.youtube.com/watch? V = k53XZn3zc9I & t = 61seto del Rig e del Mining .

We remain available for any advice, both on pools, on yield and on consumption.

Feel free to contact us in case you run into any problems where our guide to Building a 13 GPU Ethereum Mining Rig has not been completely helpful.

See you soon.


If you liked this article and would like to contribute with a donation:

Bitcoin: 1Ld9b165ZYHZcY9eUQmL9UjwzcphRE5S8Z
Ethereum: 0x8D7E456A11f4D9bB9e6683A5ac52e7DB79DBbEE7
Litecoin: LamSRc1jmwgx5xwDgzZNoXYd6ENczUZViK
Stellar: GBLDIRIQWRZCN5IXPIKYFQOE46OG2SI7AFVWFSLAHK52MVYDGVJ6IXGI
Ripple: rUb8v4wbGWYrtXzUpj7TxCFfUWgfvym9xf

By: cryptoall.it
Telegram Channel: t.me/giulo75
Netbox Browser: https://netbox.global/PZn5A
Horizen Faucet: https://getzen.cash/auth/register?ref=153228
submitted by Giulo75 to u/Giulo75 [link] [comments]

Building an Ethereum Mining Rig - Part 2

First update to the guide "Building a 6Gpu Mining Rig for Ethereum" - Let's talk about Claymore.
This update supplements and does not replace the Guide to Build a 6GPU Mining Rig for Ethereum published on our site.

The substantial differences are due to the installation of the latest version of the Windows 10 Operating System, the mining on the Ethermine pool (in our opinion simpler than Dwarfpool) and the use of the XFX RX 580 8gb GPUs.

The first variant is found in Part 4 of the guide: the environment variables are not to be entered as they will be integrated directly into the bat file to start mining.

The second variant is found in Part 7 of the guide and leads us to "mine" on a different pool using the Claymore software.
Download the latest version at the following link: https://github.com/Claymore-Dual/Claymore-Dual-Miner

Once downloaded, unzip everything on a folder on your desktop and open the start.bat file with notepad. Clear the contents and copy the following command:

start config.dll -epool eu1.ethermine.org:14444 -ewal "your ETH wallet address" -epsw x -worker "worker"
EthDcrMiner64.exe

Where instead of "your wallet address" you will have to put your Ethererum wallet - obviously without the quotes - and instead of worker you will put an identification number in case you build more RIGs (such as RIG1, RIG2, etc ...). We opted for the eu1 pool even if some on the discussion forums believe that the us1 is more profitable.

At the following link, many other useful commands for your Rig:
https://github.com/Claymore-Dual/Claymore-Dual-Miner


The Ethermine pool offers a very well crafted and descriptive interface. In the Payouts section, after only 5 minutes of mining, you can decide the minimum amount of Ether to be transferred to your wallet by simply entering the IP address of the RIG.

We have decided to mine directly on the Ethereum address of our Exodus wallet. It is not recommended to mine directly on Coinbase, as reported on the site itself. Sin.

Nothing should be left to chance when you decide to build a mining rig for Ethereum.
The third variant is the most difficult of all. Once you have reached Part 5 of the guide, you can decide whether to continue or follow this update / variant. If you are here it is probably because you have run into some problem that the guide does not allow you to solve.

With the latest version of Windows 10, you may run into a kernel conflict between the operating system and AMD's Radeon Software Crimson ReLive Edition Beta for Blockchain Compute drivers. This conflict will prevent you from using Atiflash after installing the drivers.

Important: Before making any changes to the BIOS, please backup each GPU.

Important: first of all flash the GPUs with the original bios if for any reason you are forced to reinstall the operating system.


Still on Atiflash.
The advice would therefore be to flash the GPUs and then install the AMD drivers. Let's say it would be because you may run into another problem this time related to the GPUs themselves. Since each video card is different from any other, the bios mod of the GPU could crash the operating system showing the classic blue screen and displaying an error related to the Atimkdag.sys file.

This could be due to the fact that some GPUs have significantly higher performance in the calculation phase than others. We could call it a factory overclock but not using them for gaming we cannot say it with absolute certainty.

Having assessed these two drawbacks, the only safe solution is to flash all the GPUs, disconnect them except for the first one, install the Blockchain drivers (plus Atimkdag patch) and launch the mining command verifying that the operating system does not go into crash in the next 5 minutes.

Turn off the rig again and connect the second GPU so on up to the sixth. In the event that one or more video cards should crash the system, disconnect them. After that, it uses DDU from the provisional mode and flashes these GPUs with their original bios. At this point, connect them again, reinstall the Blockcain drivers (plus Atimkdag patch) and start mining definitively.

All the operations related to the use of Atiflash, DDU and driver installation are reported in Part 5 and Part 6 of our guide.
A little bit of Overclocking.
You will certainly find significant differences in performance between the GPUs.

At this point all that remains is to "operate" with an overclocking software. We opt for OverdriveNtool. Our constantly updated guide is available at the following link: https://www.cryptoall.it/2019/10/12/complete-guide-to-overdriventool/

Link to the official YouTube channel for verification: https://www.youtube.com/channel/UCdE9TTHAOtyKxy59rALSprA

GPUs with modified bios will not leave much room for modification. You will have to proceed with the most extreme overclocking on those that mount the original bios; obviously always in small steps by saving the profile for each GPU. Our guide explains in detail how to do it.

Hoping to have been of help, we give everyone an appointment for the second part of the update on how to build an Ethereum mining rig in which we will explain in detail the dual mining on the Ethermine pool.

See you soon.


If you liked this article and would like to contribute with a donation:

Bitcoin: 1Ld9b165ZYHZcY9eUQmL9UjwzcphRE5S8Z
Ethereum: 0x8D7E456A11f4D9bB9e6683A5ac52e7DB79DBbEE7
Litecoin: LamSRc1jmwgx5xwDgzZNoXYd6ENczUZViK
Stellar: GBLDIRIQWRZCN5IXPIKYFQOE46OG2SI7AFVWFSLAHK52MVYDGVJ6IXGI
Ripple: rUb8v4wbGWYrtXzUpj7TxCFfUWgfvym9xf

By: cryptoall.it Telegram Channel: t.me/giulo75 Netbox Browser: https://netbox.global/PZn5A
submitted by Giulo75 to u/Giulo75 [link] [comments]

Anything in my current, fairly old (but water-cooled!), PC worth using in a new one?

I started building computers around the year 2000 and have never really done a complete build from scratch (for myself) after my first. I'd upgrade a part here and there, and over time everything has been replaced multiple times. However, I'm thinking, due to an upgrade hiatus (it took me a LONG time to "beat" Skyrim :-P), I'm at the end of the road. I'm close to the conclusion that, for the second time in my life, it makes sense for a fresh new build. I figure I'd run this past y'all first.
My next computer I'll use for both fun and work. On the fun side, it would ideally play modern games (Particularly, I'm eying Elder Scrolls VI and Baldurs Gate III) on decent settings on my 34" widescreen monitor. Work-wise, it needs to be able to run multiple docker containers and let me do other things (take notes in notion, google docs, etc.) while on a CPU-crushing video call. The budget is $1,500.
Here is my current setup and thoughts on each component:
Photos: https://imgur.com/a/xyM07dx

Things that may be useful:
Operating System: Windows 10 Professional (from upgrading from Windows 7... the DVD is hopefully somewhere)
PSU: Corsair TX850W - It has been trusty for the last eight years, but may not have the needed connectors for today's stuff.
Hard Drive: Crucial MX100 512 GB SATA SSD - 2.5-Inch, No performance complaints (specs claim 6.0 Gb/s), although I'm running out of storage space.
Optical Drive: Pioneer DVD-RW - Do people still put these in new computers? I also have an external USB DVD drive I could use in a pinch.
Case: Chieftec Dragon Mid Tower - this old case is steel and heavy as shit, which is actually nice as my dogs and toddlers are unlikely to knock it over inadvertently. It has a window which I like, although cable management is a massive pain in the ass. I'm not too fond of the door that covers the buttons and optical drive and lost it long ago.
Cooling: Custom water cooling setup - I water-cooled in 2002, overclocking my Athlon XP 1700+ from 1.4Ghz to 2.5. It was awesome. The radiator and T-valve are the original gangsters. I'm on my fifth pump, with my last three being the Swiftech MCP655-B, which I like. The current water block is some D-Tek for the old CPU socket. The radiator is an old Chevy Impala radiator (I think) that this guy I met on a 3DMark (now Futuremark) forum (jb2cool?) custom modified and made a shroud that houses two 120mm fans. I had to drill the shit out of my case to mount this thing in there. I'm very nostalgic about this setup, but it would also be a huge pain to fit into a new case.
Monitor: LG 34UM67-P 34 - 34" IPS widescreen; 5ms 2560 x 1080 60hz; is 60hz too slow these days?
Keyboard and mouse: Logitech Chordless Wave - USB dongle; wrists feel ok, no complaints

Things that probably will not be useful:
Motherboard: Gigabyte P45T-ES3G - I'm pretty sure I won't be reusing this. I also bought it to replace a more bad-ass motherboard that died when my previous power supply died and took it out with it. I do like how it had dual bios, though.
CPU: Intel Core 2 Quad Q6600 - Been impressed with this CPU lasting as long as it has. I wet sanded it down to a mirror finish ready to overclock the shit out of it, but then never got to it as life got in the way.
Memory: 4x4GB PC3-12800 DDR3 - G.Skill Ripjaws; ancient technology. Note: I want more than 16GB ram in my next build.
GPU: Asus Geforce GTX 460 - My previous GTX 460 died at the height of bitcoin, and any modern GPU was stupidly expensive. Replacing mine was only $30 on eBay, so that's the route I went.

tl;dr: are any of the above bolded components still worthwhile in a modern PC build?
submitted by Zugwalt to buildapc [link] [comments]

Proposal to switch to dual POW algorithm(GPU+Merged Mining) or just full Merged Mining

I'm not the biggest Eth classic holder nor is it a majority of my bags, but I do have it in a special place in my heart.
These constant 51% attacks are so BAD. :(
I much like GPU mining but let face it you need to be a dominant hasher and even then due to costs of making an ASIC(a much needed to secure the chain) the attacker can attack with it huge amount of money made AGAIN. Nichhashable :(
But what if we can keep GPU but make it dual mining.
Reuse Bitcoin Mining-"it kinda like free mining for sha256 miners" and due to the size of pools and incentives to max payments it be VERY secure. By making it mine 50% of the blocks and 50% blocks just done by GPU(which allows more ease of use for newcomers to mine), Eth classic will be much safer.
Or just go full Merged Mining..... It would help Eth classic to have closer ties with Bitcoin(just saying) ile lowering possible inflation and even out emission curve.
After this is done, voluntary POB can be used to help out the chain and offset the supply getting increased if needed.....
The chain itself needs to be secured ASAP. This is not normal at all!!!!
submitted by samee1771 to EthereumClassic [link] [comments]

Why i’m bullish on Zilliqa (long read)

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, analysed 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, decentralised and scalable in my opinion.
 
Below I post my analysis 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:
 
Introduction 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 end of January 2019 with daily transaction rate growing continuously. About a week ago mainnet reached 5 million transactions, 500.000+ addresses in total along with 2400 nodes keeping the network decentralised and secure. Circulating supply is nearing 11 billion and currently only mining rewards are left. Maximum supply is 21 billion with annual inflation being 7.13% currently and will only decrease with time.
 
Zilliqa realised early on that the usage of public cryptocurrencies and smart contracts were increasing but decentralised, 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 amount of nodes. More nodes = higher transaction throughput and increased decentralisation. 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 disecting 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 synchronise 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, decentralised and scalable being low.
 
pBFT stands for practical Byzantine Fault Tolerance and is an optimisation 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 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 decentralisation.
 
Decentralisation
 
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 (centralised 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 their 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% translates 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 decentralised too, Zilliqa qualifies for the label of decentralised 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. 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, R&D roadmap 2020 and afterwards a proper Scilla introduction.
 
Generalised: programming languages can be divided into being ‘object oriented’ or ‘functional’. Here is an ELI5 given by software development academy: > “all programmes have two basic components, data – what the programme knows – and behaviour – what the programme can do with that data. So object-oriented programming states that combining data and related behaviours 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 behaviour 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 recognised 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 safety 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 for 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 https://learnscilla.com/home 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 organisations 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 suggest that Singapore tries to position itself as (one of) the leading blockchain hubs in the world.
 
Zilliqa seems to already taking 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 build 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 dont 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 www.zillacracy.com ). 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 initiatives (correct me if I’m wrong though). This suggest 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 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]

AMD Threadripper 3970x - My adventure so far (Will edit as I go)

I own a gaming community called Unknown Skies gaming (For a little Context) and we are planning a server upgrade. Currently we have a Dell R620 with Dual E5-2690 V2's Running @ 3.3Ghz, has 196GB Ram. The game we host on this rig is called Empyrion Galactic Survival.
The reason for the upgrade is currently the server just isnt high end enough to continue supporting our target playerbase of 100 players, and Performance has dipped due to the game being alpha and the devs are not doing much to improve server side efficiency. Back in 7.0 we could host 150 players on this machine, now it struggles with 60... Yeah big change in 2 years.
After a lot of research... I can clearly see Intel Xeon Gold 6154 CPUs (2 of them) do not outperform even the R9 3950x according to passmark. The price of these used intel servers is stunningly high on the used market... Dual 18 Core XG 6154 Processors with 128gb ram (Dell R740 I think, feel free to correct me) cost right around 10,000$ USD Used give or take 1000$ or so... And get stomped on by an 800$ Single Socket CPU... Thats new and has a warranty... I get that it doesnt support as much memory... But Dang...
So I looked into threadripper... HOLY SHAT!! The 3970x hits 60k+ in passmark... And the ENTIRE system with a custom cooling loop is less than 6 Grand? Thats nuts to me! Amazing Deal! Im sad all my servers and rigs are intel hahahahaha.
What we need, What im aiming for, and my thought process - Feel free to leave thoughts and suggestions..
AMD Threadripper 3970x (Because High Per thread throughput matters due to shit code, and more players on a playfield means more cpu usage on that thread, Lots of threads matter as every playfield opens a new PlayfieldServer.exe and is its own instance so the more spread out players are, the more cores you need to spread out workload. 32 cores 64 threads... NICE)
Corsair Vengeance LPX 256 GB (8 x 32 GB) DDR4-3200 Memory (Each player uses around 1-3gb ram, 2 on average, goal was 100 Players)
ASRock TRX40 TAICHI ATX sTRX4 Motherboard (Thought this was a solid selection given the options I saw)
EVGA 1000 W 80+ Gold Certified Semi-modular ATX Power Supply SHOULD be sufficient with a closed loop water cooler, all SSD's and not requiring a gaming GPU (Plan on a 1050ti / 1050 at most)
Case im using is a modified 4U rackmount case with 3x 120mm fans going in the front, radiator behind those. Could NOT find one that I didnt have to modify. Went with El-cheapo option cause imma be drilling it and modding it internally - Rosewill Server Chassis Server Case Rackmount Case for Bitcoin Mining 4U off ebay I think it will work, and if not I have a file server that would LOVE the home LMAO. So it was well worth the Chance.
Water cooling Solution I settled on was a Thermaltake Floe TR4 Edition. I thought about using a Custom Cooling loop, but by the time I priced everything out the way I would do it... It came out to like 500$ ish LMAO. The above cooler From what I can tell should be sufficient, and should fit in the case i chose. Tight fit, but should fit.
Im excitedly looking forward to the build :) Anyone have any experience with any of this and care to chime in?
submitted by Chilimeat to Amd [link] [comments]

Buying a built PC from a friend

Hello:) I am very new to the PC community but have always been interested in investing into one. I got an offer from a friend who is selling their old PC that they built to mine bitcoin. Ideally I want a PC to be able to edit photos and videos with Adobe and be able to run games like Call of Duty or CSGO. He sent me a part list and here it is:
CPU-And fx 8350 Aftermarket dual fan 8 pipe cooler over locked to 4.2ghz GPU Gtx 970 zotac super clocked edition 4gb Ram- 16gb of ddr3 patriot viper 1866mhz gaming ram MSi z97 gaming motherboard 800 watt gaming power supply efficient Corsair 240gb ssd for operating system for an extra $40 I’ll add another 1 tb hard drive Zalman case white super clean
He’s asking $520
Thank you for your feedback in advance, Cheers
submitted by Maganick24 to PcBuild [link] [comments]

Dogecoin: The Meme That Turned Into A Cryptocurrency With A $300 Million Market Cap, An Important Portal To The Crypto Space

Dogecoin: The Meme That Turned Into A Cryptocurrency With A $300 Million Market Cap, An Important Portal To The Crypto Space
http://www.cypherpunklabs.com/dogecoin-the-meme-that-turned-into-a-cryptocurrency-with-a-300-million-market-cap-an-important-portal-to-the-crypto-space/
Dogecoin (DOGE), a cryptocurrency which now has a market cap of over $300 million, and at one point a market cap in excess of $2 billion, traces its origins back to a Japanese kindergarten teacher who posted pictures of her Shiba Inu in February 2010. There was one particular picture where the Shiba Inu was glaring sideways with raised eyebrows, and for some reason this picture has a similar allure as the Mona Lisa. The picture leaves it open for interpretation as to what the Shiba Inu is thinking, and people began plastering words all over the picture to indicate the dog’s thoughts. This meme was then nicknamed the doge.

https://preview.redd.it/o5a3qeyoxmk31.png?width=500&format=png&auto=webp&s=2d34893576658da1e88576d001c8a40371e65ffd
By 2013 the doge had become a full fledged viral internet sensation, and this simultaneously coincided with the rise of alternative cryptocurrencies. In 2009 the first cryptocurrency, Bitcoin, was released. Around 2013, and perhaps a little before then, people began to fork Bitcoin’s code and create all sorts of alternative cryptocurrencies.
Billy Markus, a programmer from Oregon, decided to create a cryptocurrency that would be more fun and reach a wider audience than Bitcoin. Markus teamed up with Jackson Palmer, a marketer for Adobe Systems, and they made this new fun cryptocurrency a reality. They chose the doge meme as the basis for their cryptocurrency, since it was quite popular at the time, and also adopted the algorithm from Luckycoin, where the block rewards are random like a lottery, unlike the fixed Bitcoin block rewards. Luckycoin derived its code from Litecoin, which is the #1 Scrypt cryptocurrency, and Litecoin itself is a derivation of Bitcoin.
Also importantly, Dogecoin’s Scrypt algorithm made it so miners had a low barrier to entry. Bitcoin mining had already become so competitive that only people with specialized and expensive equipment could realistically mine Bitcoin, whereas Dogecoin could be successfully mined with a GPU or even a CPU on a regular computer. This means anyone interested could easily start mining Dogecoin without spending money on mining rigs.
Further, despite being based on a meme, Dogecoin is decentralized, which puts it ahead of most of the alternative cryptocurrencies. Dogecoin has no premine and no initial coin offering (ICO), meaning all Dogecoins in circulation were distributed via mining, and the market is less prone to centralized dumping. Dogecoin uses the proof of work (PoW) algorithm which ensures the network is decentralized as well, rather than more centralized options like proof of stake (PoS).
Dogecoin launched at the exact right time to ride the dual waves of the doge meme’s popularity and the popularity of new alternative cryptocurrencies, and less than two months after launch Dogecoin had become a major cryptocurrency with a market cap in excess of $60 million.
After that, Dogecoin continued to be quite popular for a couple of reasons. As originally intended, Dogecoin ended up being a fun cryptocurrency, and a community developed around Dogecoin, especially on the Dogecoin subreddit. People began to tip each other Dogecoin constantly, especially since there were on the order of 100 billion Dogecoins, as compared to a maximum supply of only 21 million Bitcoins. This means that someone could easily tip hundreds or thousands of Dogecoins since it is not very expensive, while it is simultaneously exciting.
The general Dogecoin culture of tipping and generosity attracted many new users who had never been involved with cryptocurrency before. Newbies would first start accumulating Dogecoin tips, and then within the community they would learn how to accumulate even more Dogecoin by mining, and this represented a launching point where such users could go on to dive into the rest of the crypto space.
That is the reason why Dogecoin is still a major cryptocurrency to this day and will likely be a major cryptocurrency for the foreseeable future. The Dogecoin community is welcoming, generous, fun, and insightful. Essentially, Dogecoin is an important portal for the crypto space.
submitted by turtlecane to dogecoin [link] [comments]

Switched from a 1050 GT to a 5700 XT, it's great!

Edit: Resubmitted, original post removed due to lack of flair.
After 11 years I returned to an AMD GPU. I bought a Sapphire Pulse Radeon 5700 XT about three weeks ago once the non-blower cards weren't selling out in minutes. Price at the time was $409.99.
https://ibb.co/J7DvnYr
Some initial thoughts:
I didn't realize the power draw at idle would be so low (using Global Wattman) at 9W. I didn't know that the dual fans would actually shut off at low usage and make the card silent. It's much quieter than my old card, an EVGA 1050 Gaming, but I assume that's because it's fan is much smaller. I haven't stressed the card too much, but at least I now have something I can push for the next few years. I can't wait to get a 4k monitor and see what the card can really do.
I decided to do a look back on my previous video cards:
ATI 9800PRO All In Wonder (January 2005) - $245 - To pair with my NEC 19 inch CRT monitor. I could record TV on my computer, which I thought was amazing at the time (also coincidentally a month before YouTube was founded).
EVGA GeForce 8800GTS (G92) (April 2008) - $280 - Much quicker than the 9800PRO, used it for a very long time, but it was really slow towards the end.
EVGA 1050 Gaming (November 2017) - $105 - I got this in the middle of the bitcoin mining crisis when every card was at or over MSRP. I thought this would just be a filler card until prices came down, but that turned into about 2 years. Worked ok, but some newer games were a struggle.
I do have one question. Now that I have a video card that can support 4k, do you have any suggestions on monitors? I'm currently running dual Acer monitors (24 and 21 inches), but I was thinking of dual 27 inch 4k monitors. Can the 5700 XT handle this? I'm not sure if I absolutely have to have FreeSync, and in the past I've liked Dell's monitors (currently looking at the U2718Q). Thanks!
submitted by 3blue to Amd [link] [comments]

Debunking myths about mining and GPUs

E: Going to bed, will contribute more tomorrow. Thanks for the discussion!
Myth: Mining is more stressful than gaming. Fact: It depends. During the old days, this was plausible, because older GPUs (Pre-polaris) are/were bottlenecked by core clock when mining the most profitable coins. Thus, miners overclocked and overvolted these cards quite frequently, especially with cheap electricity. This meant that those cards were often run hot, pushing the limits and stressing VRM and fans quite a lot. Nowadays, ethash (Ethereum) is the most profitable algorithm for AMD cards 99% of the time, and newer GPUs (Polaris) are limited by memory bandwidth and latency. Miners can underclock core to the low 1100MHz range before seeing performance drop. To save power, miners who know what they are doing also undervolt, since it is no longer necessary to sustain a high core clock. Thus, it is quite feasible to run polaris cards below 70C at a reasonable fan speed. However, dual mining (mining more than one coin at once) does increase power consumption by up to 20%, and there are also idiots who run their polaris cards OCd while mining. With the exception of a few idiots, miners treat their Polaris GPUs pretty much the same; that is, running underclocked and undervolted 24/7 with a memory strap mod and mem OC. On the other hand, former gaming cards are highly variable in use cases. Some gamers leave their cards at stock settings, some undervolt, and some OC and/or overvolt. Most of the time, these cards are thermal cycled far more often than mining cards, which is known to weaken solder. Another thing to consider is that manufacturers have learned (somewhat) from their mistakes of putting shit tier fans in GPUs, and many fans on modern GPUs are ball bearing and/or swappable. Even some budget cards, such as MSI Armor, use decent ball bearing fans. Bottom line: the risk of buying mined Polaris cards is not as high as the risk of buying older mined cards. I would not be against buying mined polaris cards, but it's not necessarily better than buying a gamer's card instead. At the end of the day, it depends more on how the owner treated it than what they used it for.
Myth: GPUs are obsolete because of FPGAs and ASICs Fact: Mostly false. Older algorithms such as scrypt and SHA256 (lite/doge/feathebitcoin etc) are no longer feasible to mine with GPUs, but there have been multiple algorithms since then that are built to deter ASICs; most of the time it is done by making it memory-hard because designing an ASIC with high memory throughput is considerably more expensive to design and manufacture. Many devs prefer their blockchain to be ASIC resistant to avoid the concentration of power problem that Bitcoin is having nowadays, where a giant, near-monopolistic ASIC manufacturer (Bitmain) is causing a lot of (subjective) controversy. Blockchains based on ethash (Ethereum and its forks), equihash (Zcash and its forks) and cryptonight (Monero and forks) are some examples, but there are scores of other shitcoins and a few other algos that are GPU dominant. It is almost impossible that there will be another ASIC takeover, which is what was responsible for the stop in GPU demand in the bitcoin and litecoin days. Bottom line: ASICs no longer threaten GPU miners, or the demand for GPUs
Myth: Ethereum switching to Proof of Stake will kill mining soon Fact: Doomsayers have been preaching about proof of stake since late 2015. It has always been "coming soon." The fact is, the Ethereum roadmap goes from proof of work (mining) -> Casper (mining + PoS) -> Metropolis (PoS). Currently, the release date of Casper is not even announced yet, nor is it being tested in a (public) testnet. Proof of Stake might one day take over, but mining is here to stay for a while yet. Another thing to consider is that there are tons of other GPU mineable blockchains, and although Ethereum is biggest, it is certainly feasible that mining stays profitable even after Ethereum goes PoS (if it ever does). However, it is possible that profits will be low enough to discourage new miners. Bottom line: It's very unlikely. E: I screwed up the roadmap; here is a better source than me with some interesting information: https://www.ethnews.com/ethereums-vitalik-buterin-gives-keynote-on-metropolis
Myth: The current Ethereum demand spike is a bubble Opinion: Honestly, I don't know. I would not be surprised if stricter regulations on ICOs come sooner or later, which would fuck with Ether prices. There is also the inherent volatility of cryptocurrencies. However, it is also possible that blockchain technology continues to gain traction; that is, the price could just as easily go up as go down. Although it's fun to read about other people's opinions, only time-travelling wizards can tell you when it will become economical again to upgrade your poor HD5770. Bottom line: No one knows.
Myth: Miners will "steal" all the RX Vegas Fact: Only a reckless miner would buy Vegas on release, since mining performance is not known. In fact, it is possible that it can't mine at all (or at some stupidly low speed) until devs add support to existing miners. It would be even more reckless than gamers who buy without seeing benchmarks, since at least gamers can expect the games to actually run. It's also not necessarily the case that Vega will be good once miners do add support. Maybe there will be enough reckless miners to affect supply, maybe not. Of course, it is possible that miners will deplete the supply after it is demonstrated that Vega is good for mining. Bottom line: Most miners won't preorder, but it's possible that a significant number will. E: Important to remember that even if mining demand isn't high, doesn't mean that supply will be plentiful.
Myth: Nvidia cards SUCK at mining Fact: Mostly false. They USED to suck in the old pre-Maxwell days, but now they are actually more efficient at mining Ethereum and Zcash compared to AMD cards, even after both cards are undervolted. The flipside is that they (used to) cost more for the equivalent hashrate. For reference, my old 5xRX470 rig drew just under 800W when mining ETH only and hashed at 150MH/s. My current 6xGTX1060 rig draws just over half of that (<450W) and hashes at about 135MH/s. Certainly not as good in raw performance, but they are viable nonetheless, especially given the AMD GPU shortage. In fact, Nvidia cards (1060 and especially 1070) are becoming scarce as well. Bottom line: Nvidia is still the underdog when it comes to mining, but far from irrelevant nowadays.
Myth: 4GB cards will be obsolete for mining soon Fact: FALSE. The Ethereum DAG is not even 3GB yet, and won't be for a few months. The recent reports of 4GB Polaris cards slowing down soon due to DAG size is caused by limited TLB capacity, not VRAM restrictions. Polaris cards will still be able to mine ETH forks such as Expanse and UBIQ without diminished speed, and even if they are used to mine ETH, it is not that much of a performance hit at first. It would certainly not make polaris useless or undesirable for mining anytime soon. Tahiti GPUs already suffer from this issue and Hawaii is the most resistant to this issue. Have not benched Nvidia at a later epoch.
Myth: Creating miner-bashing posts on Reddit will help alleviate the GPU supply problem Fact: False, you are simply giving cryptocurrencies and mining more exposure to the general public, increasing demand.
Myth: Mining-specific GPUs will solve the shortage problems Opinion: There's not enough info to tell yet, but I am a skeptic for the following reasons. First, no display limits the resale value of the card for obvious reasons. IMO, the whole point of crypto mining from a profitability standpoint is to have a hedge against coin volatility (hardware is still worth something if the coin crashes). Otherwise it is much less effort to just buy and hold the coin. If the hardware is useless without demand from other (significant) sources, then it doesn't make much sense to buy it unless the price is extremely low. I'm sure that cost-downing the PCB and warranty will make for a cheap card, but it has to be extremely cheap and plentiful in supply, or else miners will buy whatever they can get. I could envision "failed" chips (not meeting spec of consumer editions) being stuck in miner cards, but I doubt there are enough to meet demand without ramping up production as a whole, which carries its own risks. I guess that it would help a little, but probably not solve the problems. Alternatively, since modern GPUs are bottlenecked by RAM when mining, it might be enticing to miners to have the fastest (GDDR5) RAM on the market (probably the 9gbps chips from the 1060 6G 9gbps edition, although I don't have one to test). However, my previous points still apply; buying such a card without display outputs carries a big risk. Bottom line: It's not a great idea, unless they are super cheap or use really good RAM.
Hope this helped; if you have any further questions I will try to answer them. I'm both a gamer and miner who uses both AMD and Nvidia roughly equally and don't favor one group over another. I've mined and gamed on all high end AMD GPUs since Tahiti (except Tonga) and all Pascal cards except 1050ti.
submitted by key_smash to Amd [link] [comments]

Continuous Pool Disconnection & 0 Mh/s Speeds

What's up internet/fellow miners. About a week ago I've made the decision to turn my gaming PC to a mining rig. I've had some success solo mining with nicehashminer (Bitcoin miner) but decided that it would be better to mine Ethereum. I've followed the guide and kept coming across these issues. . . I don't know if it's because my config files are whack or another underlying issue.
(EDIT) Connected to us1.ethermine.org:4444 now i'm getting different issues. Here are my most recent logs.
11:11:21:867 c20 args: -epool us1.ethermine.org:4444 -ewal 0x390C9630e0672Eb1DD15D2Eb3891B07069e6c6F2.lightsdriftminer -epsw x 11:11:21:869 c20 11:11:21:878 c20 ÉÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍ» 11:11:21:883 c20 º Claymore's Dual GPU Miner - v14.7 º 11:11:21:894 c20 º ETH + DCSIA/LBC/PASC/BLAKE2S/KECCAK º 11:11:21:896 c20 º Supercharged Edition º 11:11:21:899 c20 ÈÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍÍͼ 11:11:21:912 c20 11:11:21:914 c20 b745 11:11:22:117 c20 ETH: 2 pools are specified 11:11:22:125 c20 Main Ethereum pool is us1.ethermine.org:4444 11:11:22:128 c20 DCR: 0 pool is specified 11:11:22:200 c20 OpenCL platform: NVIDIA CUDA 11:11:22:201 c20 AMD OpenCL platform not found 11:11:22:441 c20 CUDA initializing...
11:11:22:442 c20 NVIDIA Cards available: 1 11:11:22:443 c20 CUDA Driver Version/Runtime Version: 10.2/8.0 11:11:22:444 c20 GPU #0: GeForce GTX 960, 4096 MB available, 8 compute units, capability: 5.2 (pci bus 1:0:0) 11:11:22:445 c20 Total cards: 1 11:11:26:468 c20 NVML version: 10.430.86 11:11:27:273 c20 SSL: Imported 60 certificates from local storage 11:11:27:308 33f8 ETH: Stratum - connecting to 'us1.ethermine.org' <172.65.218.238> port 4444 (unsecure) 11:11:27:331 33f8 sent: {"worker": "eth1.0", "jsonrpc": "2.0", "params": ["0x390C9630e0672Eb1DD15D2Eb3891B07069e6c6F2.lightsdriftminer", "x"], "id": 2, "method": "eth_submitLogin"}
11:11:27:332 33f8 ETH: Stratum - Connected (us1.ethermine.org:4444) (unsecure) 11:11:27:375 c20 No pool specified for Decred! Ethereum-only mining mode is enabled
11:11:27:383 c20 ETHEREUM-ONLY MINING MODE ENABLED (-mode 1)
11:11:27:385 c20 ETH: eth-proxy stratum mode 11:11:27:386 c20 Watchdog enabled 11:11:27:388 c20 Remote management (READ-ONLY MODE) is enabled on port 3333 11:11:27:397 c20
11:11:27:404 33f8 buf: {"id":2,"jsonrpc":"2.0","result":true}
11:11:27:405 33f8 ETH: Authorized 11:11:27:412 33f8 sent: {"worker": "", "jsonrpc": "2.0", "params": [], "id": 3, "method": "eth_getWork"}
11:11:27:468 33f8 buf: {"id":0,"jsonrpc":"2.0","result":["0xa4dc2ea0667952442926fb027314fd0cd783cb300063809c3ce279d84884953f","0x05a66c07931e801a56d8e423677f6ff2ff4814d538d377e1253810b3520f97c9","0x0000000112e0be826d694b2e62d01511f12a6061fbaec8bc02357593e70e52ba","0x7df052"]}
11:11:27:505 1cf8 Setting DAG epoch #275... 11:11:29:851 33f8 buf: {"id":0,"jsonrpc":"2.0","result":["0xb34311e461aeedbc6e19ff26eb477bb24241f67c6fcca04ae0ce5c9ea9416c9b","0x05a66c07931e801a56d8e423677f6ff2ff4814d538d377e1253810b3520f97c9","0x0000000112e0be826d694b2e62d01511f12a6061fbaec8bc02357593e70e52ba","0x7df052"]}
11:11:29:852 33f8 ETH: 07/30/19-11:11:29 - New job from us1.ethermine.org:4444 11:11:29:853 33f8 target: 0x0000000112e0be82 (diff: 4000MH), epoch 275(3.15GB) 11:11:29:855 33f8 ETH - Total Speed: 0.000 Mh/s, Total Shares: 0, Rejected: 0, Time: 00:00 11:11:29:856 33f8 ETH: GPU0 0.000 Mh/s 11:11:30:189 1cf8 Setting DAG epoch #275 for GPU0 11:11:30:192 1cf8 Create GPU buffer for GPU0 11:11:33:056 33f8 buf: {"id":0,"jsonrpc":"2.0","result":["0x246dfc2d4c7299214c5bff6890eaec46e95326f10a0f7778a2c3711893fc20eb","0x05a66c07931e801a56d8e423677f6ff2ff4814d538d377e1253810b3520f97c9","0x0000000112e0be826d694b2e62d01511f12a6061fbaec8bc02357593e70e52ba","0x7df053"]}
11:11:33:058 33f8 ETH: 07/30/19-11:11:33 - New job from us1.ethermine.org:4444 11:11:33:060 33f8 target: 0x0000000112e0be82 (diff: 4000MH), epoch 275(3.15GB) 11:11:33:067 33f8 ETH - Total Speed: 0.000 Mh/s, Total Shares: 0, Rejected: 0, Time: 00:00 11:11:33:070 33f8 ETH: GPU0 0.000 Mh/s 11:11:33:114 33f8 buf: {"id":0,"jsonrpc":"2.0","result":["0xffd191ec99473ea193905f976655434dc56a0818a92e0bc3f49759df4ce6a428","0x05a66c07931e801a56d8e423677f6ff2ff4814d538d377e1253810b3520f97c9","0x0000000112e0be826d694b2e62d01511f12a6061fbaec8bc02357593e70e52ba","0x7df053"]}
11:11:33:116 33f8 ETH: 07/30/19-11:11:33 - New job from us1.ethermine.org:4444 11:11:33:118 33f8 target: 0x0000000112e0be82 (diff: 4000MH), epoch 275(3.15GB) 11:11:33:125 33f8 ETH - Total Speed: 0.000 Mh/s, Total Shares: 0, Rejected: 0, Time: 00:00 11:11:33:128 33f8 ETH: GPU0 0.000 Mh/s 11:11:37:182 33f8 buf: {"id":0,"jsonrpc":"2.0","result":["0xa9a3b30ea8bb6f0f46147809276667bd3d72f0f54efab024a1014c5f3a2d2da5","0x05a66c07931e801a56d8e423677f6ff2ff4814d538d377e1253810b3520f97c9","0x0000000112e0be826d694b2e62d01511f12a6061fbaec8bc02357593e70e52ba","0x7df053"]}
11:11:37:184 33f8 ETH: 07/30/19-11:11:37 - New job from us1.ethermine.org:4444 11:11:37:186 33f8 target: 0x0000000112e0be82 (diff: 4000MH), epoch 275(3.15GB) 11:11:37:193 33f8 ETH - Total Speed: 0.000 Mh/s, Total Shares: 0, Rejected: 0, Time: 00:00 11:11:37:259 33f8 ETH: GPU0 0.000 Mh/s 11:11:37:472 33f8 ETH: checking pool connection... 11:11:37:474 33f8 sent: {"worker": "", "jsonrpc": "2.0", "params": [], "id": 3, "method": "eth_getWork"}
11:11:37:515 33f8 buf: {"id":0,"jsonrpc":"2.0","result":["0xa9a3b30ea8bb6f0f46147809276667bd3d72f0f54efab024a1014c5f3a2d2da5","0x05a66c07931e801a56d8e423677f6ff2ff4814d538d377e1253810b3520f97c9","0x0000000112e0be826d694b2e62d01511f12a6061fbaec8bc02357593e70e52ba","0x7df053"]}
11:11:41:214 33f8 buf: {"id":0,"jsonrpc":"2.0","result":["0x08148d13c03fc8be24926cf555957aa73eebaa6fb9a0f7bc802f2e4a59b27508","0x05a66c07931e801a56d8e423677f6ff2ff4814d538d377e1253810b3520f97c9","0x0000000112e0be826d694b2e62d01511f12a6061fbaec8bc02357593e70e52ba","0x7df053"]}
11:11:41:216 33f8 ETH: 07/30/19-11:11:41 - New job from us1.ethermine.org:4444 11:11:41:218 33f8 target: 0x0000000112e0be82 (diff: 4000MH), epoch 275(3.15GB) 11:11:41:225 33f8 ETH - Total Speed: 0.000 Mh/s, Total Shares: 0, Rejected: 0, Time: 00:00 11:11:41:247 33f8 ETH: GPU0 0.000 Mh/s 11:11:45:196 33f8 buf: {"id":0,"jsonrpc":"2.0","result":["0x7ce7a4c8ff23af05ae5b2a100b57a704d55f0ba2b7f57e4f4d96e8115b643c5d","0x05a66c07931e801a56d8e423677f6ff2ff4814d538d377e1253810b3520f97c9","0x0000000112e0be826d694b2e62d01511f12a6061fbaec8bc02357593e70e52ba","0x7df053"]}
11:11:45:198 33f8 ETH: 07/30/19-11:11:45 - New job from us1.ethermine.org:4444 11:11:45:200 33f8 target: 0x0000000112e0be82 (diff: 4000MH), epoch 275(3.15GB) 11:11:45:208 33f8 ETH - Total Speed: 0.000 Mh/s, Total Shares: 0, Rejected: 0, Time: 00:00 11:11:45:211 33f8 ETH: GPU0 0.000 Mh/s 11:11:47:486 33f8 ETH: checking pool connection... 11:11:47:488 33f8 sent: {"worker": "", "jsonrpc": "2.0", "params": [], "id": 3, "method": "eth_getWork"}
11:11:47:529 33f8 buf: {"id":0,"jsonrpc":"2.0","result":["0x7ce7a4c8ff23af05ae5b2a100b57a704d55f0ba2b7f57e4f4d96e8115b643c5d","0x05a66c07931e801a56d8e423677f6ff2ff4814d538d377e1253810b3520f97c9","0x0000000112e0be826d694b2e62d01511f12a6061fbaec8bc02357593e70e52ba","0x7df053"]}
11:11:49:322 33f8 buf: {"id":0,"jsonrpc":"2.0","result":["0x126f150e00540173459de4712848eeb5993cf40f015de6bef8e1b921b0ab1014","0x05a66c07931e801a56d8e423677f6ff2ff4814d538d377e1253810b3520f97c9","0x0000000112e0be826d694b2e62d01511f12a6061fbaec8bc02357593e70e52ba","0x7df053"]}
11:11:49:324 33f8 ETH: 07/30/19-11:11:49 - New job from us1.ethermine.org:4444 11:11:49:326 33f8 target: 0x0000000112e0be82 (diff: 4000MH), epoch 275(3.15GB) 11:11:49:334 33f8 ETH - Total Speed: 0.000 Mh/s, Total Shares: 0, Rejected: 0, Time: 00:00 11:11:49:337 33f8 ETH: GPU0 0.000 Mh/s 11:11:49:676 33f8 buf: {"id":0,"jsonrpc":"2.0","result":["0x998033b4ddf28107f5b4d5e55b2d4cdf1ca5206ad5d1b0eacbf4a4a33e04c796","0x05a66c07931e801a56d8e423677f6ff2ff4814d538d377e1253810b3520f97c9","0x0000000112e0be826d694b2e62d01511f12a6061fbaec8bc02357593e70e52ba","0x7df054"]}
11:11:49:677 33f8 ETH: 07/30/19-11:11:49 - New job from us1.ethermine.org:4444 11:11:49:678 33f8 target: 0x0000000112e0be82 (diff: 4000MH), epoch 275(3.15GB) 11:11:49:682 33f8 ETH - Total Speed: 0.000 Mh/s, Total Shares: 0, Rejected: 0, Time: 00:00 11:11:49:684 33f8 ETH: GPU0 0.000 Mh/s 11:11:49:794 33f8 buf: {"id":0,"jsonrpc":"2.0","result":["0xc29af38a326413d6ccee7806a33d6af54eb6118d2035c9f5e1e042cf355d61fa","0x05a66c07931e801a56d8e423677f6ff2ff4814d538d377e1253810b3520f97c9","0x0000000112e0be826d694b2e62d01511f12a6061fbaec8bc02357593e70e52ba","0x7df054"]}
11:11:49:796 33f8 ETH: 07/30/19-11:11:49 - New job from us1.ethermine.org:4444 11:11:49:798 33f8 target: 0x0000000112e0be82 (diff: 4000MH), epoch 275(3.15GB) 11:11:49:805 33f8 ETH - Total Speed: 0.000 Mh/s, Total Shares: 0, Rejected: 0, Time: 00:00 11:11:49:983 33f8 ETH: GPU0 0.000 Mh/s 11:11:51:336 1cf8 GPU0 DAG creation time - 20882 ms 11:11:51:339 1cf8 Setting DAG epoch #275 for GPU0 done 11:11:52:152 2664 GPU0 t=48C fan=45% P=45W 11:11:52:162 2664 Total GPUs power consumption: 45 Watts 11:11:52:404 3344 em hbt: 0, fm hbt: 78, 11:11:52:406 3344 watchdog - thread 0 (gpu0), hb time 1063 11:11:52:407 3344 watchdog - thread 1 (gpu0), hb time 1063 11:11:53:742 33f8 buf: {"id":0,"jsonrpc":"2.0","result":["0xff392982f7826cc5d2c866c6e29cb156157adfb9390f546cabea7c37522410e1","0x05a66c07931e801a56d8e423677f6ff2ff4814d538d377e1253810b3520f97c9","0x0000000112e0be826d694b2e62d01511f12a6061fbaec8bc02357593e70e52ba","0x7df054"]}
11:11:53:744 33f8 ETH: 07/30/19-11:11:53 - New job from us1.ethermine.org:4444 11:11:53:746 33f8 target: 0x0000000112e0be82 (diff: 4000MH), epoch 275(3.15GB) 11:11:53:753 33f8 ETH - Total Speed: 0.000 Mh/s, Total Shares: 0, Rejected: 0, Time: 00:00 11:11:55:069 33f8 ETH: GPU0 0.000 Mh/s 11:11:55:350 1cf8 GPU 0, GpuMiner cu_k1 failed 30, unknown error 11:11:55:353 2664 NVML: cannot get current temperature, error 999 (an internal driver error occurred) 11:11:55:361 2664 NVML: cannot get fan speed, error 999 (an internal driver error occurred) 11:11:55:363 1cf8 GPU 0, GpuMiner kx failed 1 11:11:55:369 1cf8 Set global fail flag, failed GPU0 11:11:55:410 1cf8 GPU 0 failed 11:11:55:424 37fc GPU 0, GpuMiner cu_k1 failed 30, unknown error 11:11:55:432 37fc GPU 0, GpuMiner kx failed 1 11:11:55:436 37fc Set global fail flag, failed GPU0 11:11:55:440 37fc GPU 0 failed 11:11:57:502 33f8 ETH: checking pool connection... 11:11:57:504 33f8 sent: {"worker": "", "jsonrpc": "2.0", "params": [], "id": 3, "method": "eth_getWork"}
11:11:57:542 33f8 buf: {"id":0,"jsonrpc":"2.0","result":["0xff392982f7826cc5d2c866c6e29cb156157adfb9390f546cabea7c37522410e1","0x05a66c07931e801a56d8e423677f6ff2ff4814d538d377e1253810b3520f97c9","0x0000000112e0be826d694b2e62d01511f12a6061fbaec8bc02357593e70e52ba","0x7df054"]}
11:11:57:660 33f8 buf: {"id":0,"jsonrpc":"2.0","result":["0x787a852f5ac545481815d71276fd0a24414e57d78626b67cb3cb9ba02cf4d0aa","0x05a66c07931e801a56d8e423677f6ff2ff4814d538d377e1253810b3520f97c9","0x0000000112e0be826d694b2e62d01511f12a6061fbaec8bc02357593e70e52ba","0x7df054"]}
11:11:57:662 33f8 ETH: 07/30/19-11:11:57 - New job from us1.ethermine.org:4444 11:11:57:664 33f8 target: 0x0000000112e0be82 (diff: 4000MH), epoch 275(3.15GB) 11:11:57:672 33f8 ETH - Total Speed: 0.000 Mh/s, Total Shares: 0, Rejected: 0, Time: 00:00 11:11:57:675 33f8 ETH: GPU0 0.000 Mh/s 11:11:58:418 2664 NVML: cannot get current temperature, error 999 (an internal driver error occurred) 11:11:58:429 2664 NVML: cannot get fan speed, error 999 (an internal driver error occurred) 11:12:00:381 33f8 buf: {"id":0,"jsonrpc":"2.0","result":["0xd9a845fe323638bbfc0901441a5959e6f2e73b625dda369cc55a51d855896e03","0x05a66c07931e801a56d8e423677f6ff2ff4814d538d377e1253810b3520f97c9","0x0000000112e0be826d694b2e62d01511f12a6061fbaec8bc02357593e70e52ba","0x7df055"]}
11:12:00:382 33f8 ETH: 07/30/19-11:12:00 - New job from us1.ethermine.org:4444 11:12:00:383 33f8 target: 0x0000000112e0be82 (diff: 4000MH), epoch 275(3.15GB) 11:12:00:388 33f8 ETH - Total Speed: 0.000 Mh/s, Total Shares: 0, Rejected: 0, Time: 00:00 11:12:00:391 33f8 ETH: GPU0 0.000 Mh/s 11:12:00:490 33f8 buf: {"id":0,"jsonrpc":"2.0","result":["0x4302100500931a1c914b488a598d8737ff3edbf3f3633468314d6c4e28dab922","0x05a66c07931e801a56d8e423677f6ff2ff4814d538d377e1253810b3520f97c9","0x0000000112e0be826d694b2e62d01511f12a6061fbaec8bc02357593e70e52ba","0x7df055"]}
11:12:00:491 33f8 ETH: 07/30/19-11:12:00 - New job from us1.ethermine.org:4444 11:12:00:492 33f8 target: 0x0000000112e0be82 (diff: 4000MH), epoch 275(3.15GB) 11:12:00:497 33f8 ETH - Total Speed: 0.000 Mh/s, Total Shares: 0, Rejected: 0, Time: 00:00 11:12:00:498 33f8 ETH: GPU0 0.000 Mh/s 11:12:01:488 2664 NVML: cannot get current temperature, error 999 (an internal driver error occurred) 11:12:01:500 2664 NVML: cannot get fan speed, error 999 (an internal driver error occurred) 11:12:04:502 33f8 buf: {"id":0,"jsonrpc":"2.0","result":["0xde108059f93a8a4ea034bb5febc5150be8e60ae89581d5ff7d41bd418c8cb815","0x05a66c07931e801a56d8e423677f6ff2ff4814d538d377e1253810b3520f97c9","0x0000000112e0be826d694b2e62d01511f12a6061fbaec8bc02357593e70e52ba","0x7df055"]}
11:12:04:504 33f8 ETH: 07/30/19-11:12:04 - New job from us1.ethermine.org:4444 11:12:04:506 33f8 target: 0x0000000112e0be82 (diff: 4000MH), epoch 275(3.15GB) 11:12:04:514 33f8 ETH - Total Speed: 0.000 Mh/s, Total Shares: 0, Rejected: 0, Time: 00:00 11:12:04:518 33f8 ETH: GPU0 0.000 Mh/s 11:12:04:557 2664 NVML: cannot get current temperature, error 999 (an internal driver error occurred) 11:12:04:569 2664 NVML: cannot get fan speed, error 999 (an internal driver error occurred) 11:12:07:486 33f8 sent: {"id":6,"jsonrpc":"2.0","method":"eth_submitHashrate","params":["0x0", "0x00000000000000000000000000000000000000000000000000000000b5f052d5"]}
11:12:07:518 33f8 ETH: checking pool connection... 11:12:07:519 33f8 sent: {"worker": "", "jsonrpc": "2.0", "params": [], "id": 3, "method": "eth_getWork"}
11:12:07:525 33f8 buf: {"id":6,"jsonrpc":"2.0","result":true}
11:12:07:558 33f8 buf: {"id":0,"jsonrpc":"2.0","result":["0xde108059f93a8a4ea034bb5febc5150be8e60ae89581d5ff7d41bd418c8cb815","0x05a66c07931e801a56d8e423677f6ff2ff4814d538d377e1253810b3520f97c9","0x0000000112e0be826d694b2e62d01511f12a6061fbaec8bc02357593e70e52ba","0x7df055"]}
11:12:07:626 2664 NVML: cannot get current temperature, error 999 (an internal driver error occurred) 11:12:07:638 2664 NVML: cannot get fan speed, error 999 (an internal driver error occurred) 11:12:08:620 33f8 buf: {"id":0,"jsonrpc":"2.0","result":["0x25869655f7de1b4af101faf41f51e59fa600e7fea8b139c90dbcfaa55b6c9fb6","0x05a66c07931e801a56d8e423677f6ff2ff4814d538d377e1253810b3520f97c9","0x0000000112e0be826d694b2e62d01511f12a6061fbaec8bc02357593e70e52ba","0x7df055"]}
11:12:08:622 33f8 ETH: 07/30/19-11:12:08 - New job from us1.ethermine.org:4444 11:12:08:624 33f8 target: 0x0000000112e0be82 (diff: 4000MH), epoch 275(3.15GB) 11:12:08:634 33f8 ETH - Total Speed: 0.000 Mh/s, Total Shares: 0, Rejected: 0, Time: 00:00 11:12:08:637 33f8 ETH: GPU0 0.000 Mh/s 11:12:10:592 33f8 buf: {"id":0,"jsonrpc":"2.0","result":["0x31c0d6df2259de2b9db8cecd3ae97eadb63342697df59490297136aa71c2ac8d","0x05a66c07931e801a56d8e423677f6ff2ff4814d538d377e1253810b3520f97c9","0x0000000112e0be826d694b2e62d01511f12a6061fbaec8bc02357593e70e52ba","0x7df056"]}
11:12:10:594 33f8 ETH: 07/30/19-11:12:10 - New job from us1.ethermine.org:4444 11:12:10:596 33f8 target: 0x0000000112e0be82 (diff: 4000MH), epoch 275(3.15GB) 11:12:10:604 33f8 ETH - Total Speed: 0.000 Mh/s, Total Shares: 0, Rejected: 0, Time: 00:00 11:12:10:607 33f8 ETH: GPU0 0.000 Mh/s 11:12:10:696 2664 NVML: cannot get current temperature, error 999 (an internal driver error occurred) 11:12:10:706 2664 NVML: cannot get fan speed, error 999 (an internal driver error occurred) 11:12:10:768 33f8 buf: {"id":0,"jsonrpc":"2.0","result":["0x428bacd8f4c294dccc3870b0402b8ea1ba9a5b578ef42309a312ea78e37e7ae4","0x05a66c07931e801a56d8e423677f6ff2ff4814d538d377e1253810b3520f97c9","0x0000000112e0be826d694b2e62d01511f12a6061fbaec8bc02357593e70e52ba","0x7df056"]}
11:12:10:769 33f8 ETH: 07/30/19-11:12:10 - New job from us1.ethermine.org:4444 11:12:10:770 33f8 target: 0x0000000112e0be82 (diff: 4000MH), epoch 275(3.15GB) 11:12:10:775 33f8 ETH - Total Speed: 0.000 Mh/s, Total Shares: 0, Rejected: 0, Time: 00:00 11:12:10:777 33f8 ETH: GPU0 0.000 Mh/s 11:12:11:654 33f8 buf: {"id":0,"jsonrpc":"2.0","result":["0xf9a5e3322470de0aca5def6fbfa5c559e350f580687ec91f6c452e693b64084e","0x05a66c07931e801a56d8e423677f6ff2ff4814d538d377e1253810b3520f97c9","0x0000000112e0be826d694b2e62d01511f12a6061fbaec8bc02357593e70e52ba","0x7df057"]}
11:12:11:656 33f8 ETH: 07/30/19-11:12:11 - New job from us1.ethermine.org:4444 11:12:11:658 33f8 target: 0x0000000112e0be82 (diff: 4000MH), epoch 275(3.15GB) 11:12:11:676 33f8 ETH - Total Speed: 0.000 Mh/s, Total Shares: 0, Rejected: 0, Time: 00:00 11:12:11:679 33f8 ETH: GPU0 0.000 Mh/s 11:12:11:754 33f8 buf: {"id":0,"jsonrpc":"2.0","result":["0x77acbeb5ef7ac259f42365da8bc180d934d14d7e61514475e431a74bb33092e8","0x05a66c07931e801a56d8e423677f6ff2ff4814d538d377e1253810b3520f97c9","0x0000000112e0be826d694b2e62d01511f12a6061fbaec8bc02357593e70e52ba","0x7df057"]}
11:12:11:755 33f8 ETH: 07/30/19-11:12:11 - New job from us1.ethermine.org:4444 11:12:11:756 33f8 target: 0x0000000112e0be82 (diff: 4000MH), epoch 275(3.15GB) 11:12:11:761 33f8 ETH - Total Speed: 0.000 Mh/s, Total Shares: 0, Rejected: 0, Time: 00:00 11:12:11:763 33f8 ETH: GPU0 0.000 Mh/s 11:12:13:764 2664 NVML: cannot get current temperature, error 999 (an internal driver error occurred) 11:12:13:767 2664 NVML: cannot get fan speed, error 999 (an internal driver error occurred) 11:12:15:902 33f8 buf: {"id":0,"jsonrpc":"2.0","result":["0x61c461dc5d400f04c95e7af0113e2be581749c3aef0a73e79f615657bf79a17d","0x05a66c07931e801a56d8e423677f6ff2ff4814d538d377e1253810b3520f97c9","0x0000000112e0be826d694b2e62d01511f12a6061fbaec8bc02357593e70e52ba","0x7df057"]}
11:12:15:904 33f8 ETH: 07/30/19-11:12:15 - New job from us1.ethermine.org:4444 11:12:15:906 33f8 target: 0x0000000112e0be82 (diff: 4000MH), epoch 275(3.15GB) 11:12:15:914 33f8 ETH - Total Speed: 0.000 Mh/s, Total Shares: 0, Rejected: 0, Time: 00:00 11:12:15:917 33f8 ETH: GPU0 0.000 Mh/s 11:12:16:823 2664 NVML: cannot get current temperature, error 999 (an internal driver error occurred) 11:12:16:835 2664 NVML: cannot get fan speed, error 999 (an internal driver error occurred) 11:12:17:534 33f8 ETH: checking pool connection... 11:12:17:536 33f8 sent: {"worker": "", "jsonrpc": "2.0", "params": [], "id": 3, "method": "eth_getWork"}
11:12:17:575 33f8 buf: {"id":0,"jsonrpc":"2.0","result":["0x61c461dc5d400f04c95e7af0113e2be581749c3aef0a73e79f615657bf79a17d","0x05a66c07931e801a56d8e423677f6ff2ff4814d538d377e1253810b3520f97c9","0x0000000112e0be826d694b2e62d01511f12a6061fbaec8bc02357593e70e52ba","0x7df057"]}
11:12:19:862 33f8 buf: {"id":0,"jsonrpc":"2.0","result":["0xac10bfccd03a5ada731630cbccba3733cfbccfecc5b9f531c6373ccd47cf9e71","0x05a66c07931e801a56d8e423677f6ff2ff4814d538d377e1253810b3520f97c9","0x0000000112e0be826d694b2e62d01511f12a6061fbaec8bc02357593e70e52ba","0x7df057"]}
11:12:19:864 33f8 ETH: 07/30/19-11:12:19 - New job from us1.ethermine.org:4444 11:12:19:866 33f8 target: 0x0000000112e0be82 (diff: 4000MH), epoch 275(3.15GB) 11:12:19:873 33f8 ETH - Total Speed: 0.000 Mh/s, Total Shares: 0, Rejected: 0, Time: 00:00 11:12:19:876 33f8 ETH: GPU0 0.000 Mh/s 11:12:19:893 2664 NVML: cannot get current temperature, error 999 (an internal driver error occurred) 11:12:19:903 2664 NVML: cannot get fan speed, error 999 (an internal driver error occurred) 11:12:22:679 3344 em hbt: 0, fm hbt: 63, 11:12:22:680 3344 watchdog - thread 0 (gpu0), hb time 31344 11:12:22:682 3344 watchdog - thread 1 (gpu0), hb time 27281 11:12:22:684 3344 WATCHDOG: GPU error, you need to restart miner :( 11:12:22:759 11f8 NVML: cannot get current temperature, error 999 (an internal driver error occurred) 11:12:22:770 11f8 NVML: cannot get fan speed, error 999 (an internal driver error occurred) 11:12:24:035 3344 Restarting OK, exit...
Config File.txt -

WARNING! Remove "#" characters to enable lines, with "#" they are disabled and will be ignored by miner! Check README for details.

WARNING! Miner loads options from this file only if there are not any options in the command line!

-epool us1.ethermine.org:4444 -ewal 0x390C9630e0672Eb1DD15D2Eb3891B07069e6c6F2.lightsdriftminer -epsw x

-dpool stratum+tcp://yiimp.ccminer.org:4252

-dwal DsUt9QagrYLvSkJHXCvhfiZHKafVtzd7Sq4

-dpsw x

-esm 1 -mode 0 -tt 70 -asm 0
epool file.txt-

WARNING! Remove "#" characters to enable lines, with "#" they are disabled and will be ignored by miner! Check README for details.

POOL: eth-eu.dwarfpool.com:8008, WALLET: 0xD69af2A796A737A103F12d2f0BCC563a13900E6F/YourWorker, PSW: x, ESM: 0, ALLPOOLS: 0

POOL: us1.ethermine.org:4444, WALLET: 0x390C9630e0672Eb1DD15D2Eb3891B07069e6c6F2.lightsdriftminer, PSW: x, ESM: 1, ALLPOOLS: 0

POOL: coinotron.com:3344, WALLET: YourUserName.YourWorkerName, PSW: YourWorkerPass, WORKER: , ESM: 2, ALLPOOLS: 1, ESTALE: 1

POOL: us-east1.ethereum.miningpoolhub.com:20535, WALLET: YourLogin.YourWorkerName, PSW: YourWorkerPass, WORKER: YourLogin.YourWorkerName, ESM: 2

ANY HELP/GUIDANCE IS APPRECIATED
submitted by FlawlessPig to EtherMining [link] [comments]

AIOMiner - Alpha 7 Released

Hello All!
AIOMiner Alpha 7 is here and with it comes AMD support.
In this release we have given you the fastest way to mine for new people. In 5 clicks after install you can be mining and be on your way.
For anyone new, this is used to help you run your rig or desktop miner to help you manage your pools and mine with ease.
But here are some key new things, read more on the GitHub Page
Quick Start: Download,Install, Help, Add Wallet, Save, Click start
Screen Shots:
Main
Advanced
Supported Coins
ZCash, Vertcoin, BitcoinZ, Straks, MonaCoin, ZenCash, Ethereum, Hush, Komodo, Trezarcoin, Verge, Vivo, Bitcoin Gold, Zclassic, Ellaism, Pirl, Musicoin, Feathercoin, Monero, Ubiq, Expanse, Orbitcoin, Metaverse, Ethereum Classic, Sumokoin, Karbo, Electroneum, Bytecoin, Halcyon
Quick Help
Download Today
Feature Request or Chat
Community Driven, No Mining Fees, No Batch Files
submitted by xixspiderxix to gpumining [link] [comments]

Searching for the Unicorn Cryptocurrency

Searching for the Unicorn Cryptocurrency
For someone first starting out as a cryptocurrency investor, finding a trustworthy manual for screening a cryptocurrency’s merits is nonexistent as we are still in the early, Wild West days of the cryptocurrency market. One would need to become deeply familiar with the inner workings of blockchain to be able to perform the bare minimum due diligence.
One might believe, over time, that finding the perfect cryptocurrency may be nothing short of futile. If a cryptocurrency purports infinite scalability, then it is probably either lightweight with limited features or it is highly centralized among a limited number of nodes that perform consensus services especially Proof of Stake or Delegated Proof of Stake. Similarly, a cryptocurrency that purports comprehensive privacy may have technical obstacles to overcome if it aims to expand its applications such as in smart contracts. The bottom line is that it is extremely difficult for a cryptocurrency to have all important features jam-packed into itself.
The cryptocurrency space is stuck in the era of the “dial-up internet” in a manner of speaking. Currently blockchain can’t scale – not without certain tradeoffs – and it hasn’t fully resolved certain intractable issues such as user-unfriendly long addresses and how the blockchain size is forever increasing to name two.
In other words, we haven’t found the ultimate cryptocurrency. That is, we haven’t found the mystical unicorn cryptocurrency that ushers the era of decentralization while eschewing all the limitations of traditional blockchain systems.
“But wait – what about Ethereum once it implements sharding?”
“Wouldn’t IOTA be able to scale infinitely with smart contracts through its Qubic offering?”
“Isn’t Dash capable of having privacy, smart contracts, and instantaneous transactions?”
Those thoughts and comments may come from cryptocurrency investors who have done their research. It is natural for the informed investors to invest in projects that are believed to bring cutting edge technological transformation to blockchain. Sooner or later, the sinking realization will hit that any variation of the current blockchain technology will always likely have certain limitations.
Let us pretend that there indeed exists a unicorn cryptocurrency somewhere that may or may not be here yet. What would it look like, exactly? Let us set the 5 criteria of the unicorn cryptocurrency:
Unicorn Criteria
(1) Perfectly solves the blockchain trilemma:
o Infinite scalability
o Full security
o Full decentralization
(2) Zero or minimal transaction fee
(3) Full privacy
(4) Full smart contract capabilities
(5) Fair distribution and fair governance
For each of the above 5 criteria, there would not be any middle ground. For example, a cryptocurrency with just an in-protocol mixer would not be considered as having full privacy. As another example, an Initial Coin Offering (ICO) may possibly violate criterion (5) since with an ICO the distribution and governance are often heavily favored towards an oligarchy – this in turn would defy the spirit of decentralization that Bitcoin was found on.
There is no cryptocurrency currently that fits the above profile of the unicorn cryptocurrency. Let us examine an arbitrary list of highly hyped cryptocurrencies that meet the above list at least partially. The following list is by no means comprehensive but may be a sufficient sampling of various blockchain implementations:
Bitcoin (BTC)
Bitcoin is the very first and the best known cryptocurrency that started it all. While Bitcoin is generally considered extremely secure, it suffers from mining centralization to a degree. Bitcoin is not anonymous, lacks smart contracts, and most worrisomely, can only do about 7 transactions per seconds (TPS). Bitcoin is not the unicorn notwithstanding all the Bitcoin maximalists.
Ethereum (ETH)
Ethereum is widely considered the gold standard of smart contracts aside from its scalability problem. Sharding as part of Casper’s release is generally considered to be the solution to Ethereum’s scalability problem.
The goal of sharding is to split up validating responsibilities among various groups or shards. Ethereum’s sharding comes down to duplicating the existing blockchain architecture and sharing a token. This does not solve the core issue and simply kicks the can further down the road. After all, full nodes still need to exist one way or another.
Ethereum’s blockchain size problem is also an issue as will be explained more later in this article.
As a result, Ethereum is not the unicorn due to its incomplete approach to scalability and, to a degree, security.
Dash
Dash’s masternodes are widely considered to be centralized due to their high funding requirements, and there are accounts of a pre-mine in the beginning. Dash is not the unicorn due to its questionable decentralization.
Nano
Nano boasts rightfully for its instant, free transactions. But it lacks smart contracts and privacy, and it may be exposed to well orchestrated DDOS attacks. Therefore, it goes without saying that Nano is not the unicorn.
EOS
While EOS claims to execute millions of transactions per seconds, a quick glance reveals centralized parameters with 21 nodes and a questionable governance system. Therefore, EOS fails to achieve the unicorn status.
Monero (XMR)
One of the best known and respected privacy coins, Monero lacks smart contracts and may fall short of infinite scalability due to CryptoNote’s design. The unicorn rank is out of Monero’s reach.
IOTA
IOTA’s scalability is based on the number of transactions the network processes, and so its supposedly infinite scalability would fluctuate and is subject to the whims of the underlying transactions. While IOTA’s scalability approach is innovative and may work in the long term, it should be reminded that the unicorn cryptocurrency has no middle ground. The unicorn cryptocurrency would be expected to scale infinitely on a consistent basis from the beginning.
In addition, IOTA’s Masked Authenticated Messaging (MAM) feature does not bring privacy to the masses in a highly convenient manner. Consequently, the unicorn is not found with IOTA.

PascalCoin as a Candidate for the Unicorn Cryptocurrency
Please allow me to present a candidate for the cryptocurrency unicorn: PascalCoin.
According to the website, PascalCoin claims the following:
“PascalCoin is an instant, zero-fee, infinitely scalable, and decentralized cryptocurrency with advanced privacy and smart contract capabilities. Enabled by the SafeBox technology to become the world’s first blockchain independent of historical operations, PascalCoin possesses unlimited potential.”
The above summary is a mouthful to be sure, but let’s take a deep dive on how PascalCoin innovates with the SafeBox and more. Before we do this, I encourage you to first become acquainted with PascalCoin by watching the following video introduction:
https://www.youtube.com/watch?time_continue=4&v=F25UU-0W9Dk
The rest of this section will be split into 10 parts in order to illustrate most of the notable features of PascalCoin. Naturally, let’s start off with the SafeBox.
Part #1: The SafeBox
Unlike traditional UTXO-based cryptocurrencies in which the blockchain records the specifics of each transaction (address, sender address, amount of funds transferred, etc.), the blockchain in PascalCoin is only used to mutate the SafeBox. The SafeBox is a separate but equivalent cryptographic data structure that snapshots account balances. PascalCoin’s blockchain is comparable to a machine that feeds the most important data – namely, the state of an account – into the SafeBox. Any node can still independently compute and verify the cumulative Proof-of-Work required to construct the SafeBox.
The PascalCoin whitepaper elegantly highlights the unique historical independence that the SafeBox possesses:
“While there are approaches that cryptocurrencies could use such as pruning, warp-sync, "finality checkpoints", UTXO-snapshotting, etc, there is a fundamental difference with PascalCoin. Their new nodes can only prove they are on most-work-chain using the infinite history whereas in PascalCoin, new nodes can prove they are on the most-work chain without the infinite history.”
Some cryptocurrency old-timers might instinctively balk at the idea of full nodes eschewing the entire history for security, but such a reaction would showcase a lack of understanding on what the SafeBox really does.
A concrete example would go a long way to best illustrate what the SafeBox does. Let’s say I input the following operations in my calculator:
5 * 5 – 10 / 2 + 5
It does not take a genius to calculate the answer, 25. Now, the expression “5 \ 5 – 10 / 2 + 5”* would be forever imbued on a traditional blockchain’s history. But the SafeBox begs to differ. It says that the expression “5 \ 5 – 10 / 2 + 5”* should instead be simply “25” so as preserve simplicity, time, and space. In other words, the SafeBox simply preserves the account balance.
But some might still be unsatisfied and claim that if one cannot trace the series of operations (transactions) that lead to the final number (balance) of 25, the blockchain is inherently insecure.
Here are four important security aspects of the SafeBox that some people fail to realize:
(1) SafeBox Follows the Longest Chain of Proof-of-Work
The SafeBox mutates itself per 100 blocks. Each new SafeBox mutation must reference both to the previous SafeBox mutation and the preceding 100 blocks in order to be valid, and the resultant hash of the new mutated SafeBox must then be referenced by each of the new subsequent blocks, and the process repeats itself forever.
The fact that each new SafeBox mutation must reference to the previous SafeBox mutation is comparable to relying on the entire history. This is because the previous SafeBox mutation encapsulates the result of cumulative entire history except for the 100 blocks which is why each new SafeBox mutation requires both the previous SafeBox mutation and the preceding 100 blocks.
So in a sense, there is a single interconnected chain of inflows and outflows, supported by Byzantine Proof-of-Work consensus, instead of the entire history of transactions.
More concretely, the SafeBox follows the path of the longest chain of Proof-of-Work simply by design, and is thus cryptographically equivalent to the entire history even without tracing specific operations in the past. If the chain is rolled back with a 51% attack, only the attacker’s own account(s) in the SafeBox can be manipulated as is explained in the next part.
(2) A 51% Attack on PascalCoin Functions the Same as Others
A 51% attack on PascalCoin would work in a similar way as with other Proof-of-Work cryptocurrencies. An attacker cannot modify a transaction in the past without affecting the current SafeBox hash which is accepted by all honest nodes.
Someone might claim that if you roll back all the current blocks plus the 100 blocks prior to the SafeBox’s mutation, one could create a forged SafeBox with different balances for all accounts. This would be incorrect as one would be able to manipulate only his or her own account(s) in the SafeBox with a 51% attack – just as is the case with other UTXO cryptocurrencies. The SafeBox stores the balances of all accounts which are in turn irreversibly linked only to their respective owners’ private keys.
(3) One Could Preserve the Entire History of the PascalCoin Blockchain
No blockchain data in PascalCoin is ever deleted even in the presence of the SafeBox. Since the SafeBox is cryptographically equivalent to a full node with the entire history as explained above, PascalCoin full nodes are not expected to contain infinite history. But for whatever reason(s) one may have, one could still keep all the PascalCoin blockchain history as well along with the SafeBox as an option even though it would be redundant.
Without storing the entire history of the PascalCoin blockchain, you can still trace the specific operations of the 100 blocks prior to when the SafeBox absorbs and reflects the net result (a single balance for each account) from those 100 blocks. But if you’re interested in tracing operations over a longer period in the past – as redundant as that may be – you’d have the option to do so by storing the entire history of the PascalCoin blockchain.
(4) The SafeBox is Equivalent to the Entire Blockchain History
Some skeptics may ask this question: “What if the SafeBox is forever lost? How would you be able to verify your accounts?” Asking this question is tantamount to asking to what would happen to Bitcoin if all of its entire history was erased. The result would be chaos, of course, but the SafeBox is still in line with the general security model of a traditional blockchain with respect to black swans.
Now that we know the security of the SafeBox is not compromised, what are the implications of this new blockchain paradigm? A colorful illustration as follows still wouldn’t do justice to the subtle revolution that the SafeBox ushers. The automobiles we see on the street are the cookie-and-butter representation of traditional blockchain systems. The SafeBox, on the other hand, supercharges those traditional cars to become the Transformers from Michael Bay’s films.
The SafeBox is an entirely different blockchain architecture that is impressive in its simplicity and ingenuity. The SafeBox’s design is only the opening act for PascalCoin’s vast nuclear arsenal. If the above was all that PascalCoin offers, it still wouldn’t come close to achieving the unicorn status but luckily, we have just scratched the surface. Please keep on reading on if you want to learn how PascalCoin is going to shatter the cryptocurrency industry into pieces. Buckle down as this is going to be a long read as we explore further about the SafeBox’s implications.
Part #2: 0-Confirmation Transactions
To begin, 0-confirmation transactions are secure in PascalCoin thanks to the SafeBox.
The following paraphrases an explanation of PascalCoin’s 0-confirmations from the whitepaper:
“Since PascalCoin is not a UTXO-based currency but rather a State-based currency thanks to the SafeBox, the security guarantee of 0-confirmation transactions are much stronger than in UTXO-based currencies. For example, in Bitcoin if a merchant accepts a 0-confirmation transaction for a coffee, the buyer can simply roll that transaction back after receiving the coffee but before the transaction is confirmed in a block. The way the buyer does this is by re-spending those UTXOs to himself in a new transaction (with a higher fee) thus invalidating them for the merchant. In PascalCoin, this is virtually impossible since the buyer's transaction to the merchant is simply a delta-operation to debit/credit a quantity from/to accounts respectively. The buyer is unable to erase or pre-empt this two-sided, debit/credit-based transaction from the network’s pending pool until it either enters a block for confirmation or is discarded with respect to both sender and receiver ends. If the buyer tries to double-spend the coffee funds after receiving the coffee but before they clear, the double-spend transaction will not propagate the network since nodes cannot propagate a double-spending transaction thanks to the debit/credit nature of the transaction. A UTXO-based transaction is initially one-sided before confirmation and therefore is more exposed to one-sided malicious schemes of double spending.”
Phew, that explanation was technical but it had to be done. In summary, PascalCoin possesses the only secure 0-confirmation transactions in the cryptocurrency industry, and it goes without saying that this means PascalCoin is extremely fast. In fact, PascalCoin is capable of 72,000 TPS even prior to any additional extensive optimizations down the road. In other words, PascalCoin is as instant as it gets and gives Nano a run for its money.
Part #3: Zero Fee
Let’s circle back to our discussion of PascalCoin’s 0-confirmation capability. Here’s a little fun magical twist to PascalCoin’s 0-confirmation magic: 0-confirmation transactions are zero-fee. As in you don’t pay a single cent in fee for each 0-confirmation! There is just a tiny downside: if you create a second transaction in a 5-minute block window then you’d need to pay a minimal fee. Imagine using Nano but with a significantly stronger anti-DDOS protection for spam! But there shouldn’t be any complaint as this fee would amount to 0.0001 Pascal or $0.00002 based on the current price of a Pascal at the time of this writing.
So, how come the fee for blazingly fast transactions is nonexistent? This is where the magic of the SafeBox arises in three ways:
(1) PascalCoin possesses the secure 0-confirmation feature as discussed above that enables this speed.
(2) There is no fee bidding competition of transaction priority typical in UTXO cryptocurrencies since, once again, PascalCoin operates on secure 0-confirmations.
(3) There is no fee incentive needed to run full nodes on behalf of the network’s security beyond the consensus rewards.
Part #4: Blockchain Size
Let’s expand more on the third point above, using Ethereum as an example. Since Ethereum’s launch in 2015, its full blockchain size is currently around 2 TB, give or take, but let’s just say its blockchain size is 100 GB for now to avoid offending the Ethereum elitists who insist there are different types of full nodes that are lighter. Whoever runs Ethereum’s full nodes would expect storage fees on top of the typical consensus fees as it takes significant resources to shoulder Ethereum’s full blockchain size and in turn secure the network. What if I told you that PascalCoin’s full blockchain size will never exceed few GBs after thousands of years? That is just what the SafeBox enables PascalCoin to do so. It is estimated that by 2072, PascalCoin’s full nodes will only be 6 GB which is low enough not to warrant any fee incentives for hosting full nodes. Remember, the SafeBox is an ultra-light cryptographic data structure that is cryptographically equivalent to a blockchain with the entire transaction history. In other words, the SafeBox is a compact spreadsheet of all account balances that functions as PascalCoin’s full node!
Not only does the SafeBox’s infinitesimal memory size helps to reduce transaction fees by phasing out any storage fees, but it also paves the way for true decentralization. It would be trivial for every PascalCoin user to opt a full node in the form of a wallet. This is extreme decentralization at its finest since the majority of users of other cryptocurrencies ditch full nodes due to their burdensome sizes. It is naïve to believe that storage costs would reduce enough to the point where hosting full nodes are trivial. Take a look at the following chart outlining the trend of storage cost.

* https://www.backblaze.com/blog/hard-drive-cost-per-gigabyte/
As we can see, storage costs continue to decrease but the descent is slowing down as is the norm with technological improvements. In the meantime, blockchain sizes of other cryptocurrencies are increasing linearly or, in the case of smart contract engines like Ethereum, parabolically. Imagine a cryptocurrency smart contract engine like Ethereum garnering worldwide adoption; how do you think Ethereum’s size would look like in the far future based on the following chart?


https://i.redd.it/k57nimdjmo621.png

Ethereum’s future blockchain size is not looking pretty in terms of sustainable security. Sharding is not a fix for this issue since there still needs to be full nodes but that is a different topic for another time.
It is astonishing that the cryptocurrency community as a whole has passively accepted this forever-expanding-blockchain-size problem as an inescapable fate.
PascalCoin is the only cryptocurrency that has fully escaped the death vortex of forever expanding blockchain size. Its blockchain size wouldn’t exceed 10 GB even after many hundreds of years of worldwide adoption. Ethereum’s blockchain size after hundreds of years of worldwide adoption would make fine comedy.
Part #5: Simple, Short, and Ordinal Addresses
Remember how the SafeBox works by snapshotting all account balances? As it turns out, the account address system is almost as cool as the SafeBox itself.
Imagine yourself in this situation: on a very hot and sunny day, you’re wandering down the street across from your house and ran into a lemonade stand – the old-fashioned kind without any QR code or credit card terminal. The kid across you is selling a lemonade cup for 1 Pascal with a poster outlining the payment address as 5471-55. You flip out your phone and click “Send” with 1 Pascal to the address 5471-55; viola, exactly one second later you’re drinking your lemonade without paying a cent for the transaction fee!
The last thing one wants to do is to figure out how to copy/paste to, say, the following address 1BoatSLRHtKNngkdXEeobR76b53LETtpyT on the spot wouldn’t it? Gone are the obnoxiously long addresses that plague all cryptocurrencies. The days of those unreadable addresses will be long gone – it has to be if blockchain is to innovate itself for the general public. EOS has a similar feature for readable addresses but in a very limited manner in comparison, and nicknames attached to addresses in GUIs don’t count since blockchain-wide compatibility wouldn’t hold.
Not only does PascalCoin has the neat feature of having addresses (called PASAs) that amount to up to 6 or 7 digits, but PascalCoin can also incorporate in-protocol address naming as opposed to GUI address nicknames. Suppose I want to order something from Amazon using Pascal; I simply search the word “Amazon” then the corresponding account number shows up. Pretty neat, right?
The astute reader may gather that PascalCoin’s address system makes it necessary to commoditize addresses, and he/she would be correct. Some view this as a weakness; part #10 later in this segment addresses this incorrect perception.
Part #6: Privacy
As if the above wasn’t enough, here’s another secret that PascalCoin has: it is a full-blown privacy coin. It uses two separate foundations to achieve comprehensive anonymity: in-protocol mixer for transfer amounts and zn-SNARKs for private balances. The former has been implemented and the latter is on the roadmap. Both the 0-confirmation transaction and the negligible transaction fee would make PascalCoin the most scalable privacy coin of any other cryptocurrencies pending the zk-SNARKs implementation.
Part #7: Smart Contracts
Next, PascalCoin will take smart contracts to the next level with a layer-2 overlay consensus system that pioneers sidechains and other smart contract implementations.
In formal terms, this layer-2 architecture will facilitate the transfer of data between PASAs which in turn allows clean enveloping of layer-2 protocols inside layer-1 much in the same way that HTTP lives inside TCP.
To summarize:
· The layer-2 consensus method is separate from the layer-1 Proof-of-Work. This layer-2 consensus method is independent and flexible. A sidechain – based on a single encompassing PASA – could apply Proof-of-Stake (POS), Delegated Proof-of-Stake (DPOS), or Directed Acyclic Graph (DAG) as the consensus system of its choice.
· Such a layer-2 smart contract platform can be written in any languages.
· Layer-2 sidechains will also provide very strong anonymity since funds are all pooled and keys are not used to unlock them.
· This layer-2 architecture is ingenious in which the computation is separate from layer-2 consensus, in effect removing any bottleneck.
· Horizontal scaling exists in this paradigm as there is no interdependence between smart contracts and states are not managed by slow sidechains.
· Speed and scalability are fully independent of PascalCoin.
One would be able to run the entire global financial system on PascalCoin’s infinitely scalable smart contract platform and it would still scale infinitely. In fact, this layer-2 architecture would be exponentially faster than Ethereum even after its sharding is implemented.
All this is the main focus of PascalCoin’s upcoming version 5 in 2019. A whitepaper add-on for this major upgrade will be released in early 2019.
Part #8: RandomHash Algorithm
Surely there must be some tradeoffs to PascalCoin’s impressive capabilities, you might be asking yourself. One might bring up the fact that PascalCoin’s layer-1 is based on Proof-of-Work and is thus susceptible to mining centralization. This would be a fallacy as PascalCoin has pioneered the very first true ASIC, GPU, and dual-mining resistant algorithm known as RandomHash that obliterates anything that is not CPU based and gives all the power back to solo miners.
Here is the official description of RandomHash:
“RandomHash is a high-level cryptographic hash algorithm that combines other well-known hash primitives in a highly serial manner. The distinguishing feature is that calculations for a nonce are dependent on partial calculations of other nonces, selected at random. This allows a serial hasher (CPU) to re-use these partial calculations in subsequent mining saving 50% or more of the work-load. Parallel hashers (GPU) cannot benefit from this optimization since the optimal nonce-set cannot be pre-calculated as it is determined on-the-fly. As a result, parallel hashers (GPU) are required to perform the full workload for every nonce. Also, the algorithm results in 10x memory bloat for a parallel implementation. In addition to its serial nature, it is branch-heavy and recursive making in optimal for CPU-only mining.”
One might be understandably skeptical of any Proof-of-Work algorithm that solves ASIC and GPU centralization once for all because there have been countless proposals being thrown around for various algorithms since the dawn of Bitcoin. Is RandomHash truly the ASIC & GPU killer that it claims to be?
Herman Schoenfeld, the inventor behind RandomHash, described his algorithm in the following:
“RandomHash offers endless ASIC-design breaking surface due to its use of recursion, hash algo selection, memory hardness and random number generation.
For example, changing how round hash selection is made and/or random number generator algo and/or checksum algo and/or their sequencing will totally break an ASIC design. Conceptually if you can significantly change the structure of the output assembly whilst keeping the high-level algorithm as invariant as possible, the ASIC design will necessarily require proportional restructuring. This results from the fact that ASIC designs mirror the ASM of the algorithm rather than the algorithm itself.”
Polyminer1 (pseudonym), one of the members of the PascalCoin core team who developed RHMiner (official software for mining RandomHash), claimed as follows:
“The design of RandomHash is, to my experience, a genuine innovation. I’ve been 30 years in the field. I’ve rarely been surprised by anything. RandomHash was one of my rare surprises. It’s elegant, simple, and achieves resistance in all fronts.”
PascalCoin may have been the first party to achieve the race of what could possibly be described as the “God algorithm” for Proof-of-Work cryptocurrencies. Look no further than one of Monero’s core developers since 2015, Howard Chu. In September 2018, Howard declared that he has found a solution, called RandomJS, to permanently keep ASICs off the network without repetitive algorithm changes. This solution actually closely mirrors RandomHash’s algorithm. Discussing about his algorithm, Howard asserted that “RandomJS is coming at the problem from a direction that nobody else is.”
Link to Howard Chu’s article on RandomJS:
https://www.coindesk.com/one-musicians-creative-solution-to-drive-asics-off-monero
Yet when Herman was asked about Howard’s approach, he responded:
“Yes, looks like it may work although using Javascript was a bit much. They should’ve just used an assembly subset and generated random ASM programs. In a way, RandomHash does this with its repeated use of random mem-transforms during expansion phase.”
In the end, PascalCoin may have successfully implemented the most revolutionary Proof-of-Work algorithm, one that eclipses Howard’s burgeoning vision, to date that almost nobody knows about. To learn more about RandomHash, refer to the following resources:
RandomHash whitepaper:
https://www.pascalcoin.org/storage/whitepapers/RandomHash_Whitepaper.pdf
Technical proposal for RandomHash:
https://github.com/PascalCoin/PascalCoin/blob/mastePIP/PIP-0009.md
Someone might claim that PascalCoin still suffers from mining centralization after RandomHash, and this is somewhat misleading as will be explained in part #10.
Part #9: Fair Distribution and Governance
Not only does PascalCoin rest on superior technology, but it also has its roots in the correct philosophy of decentralized distribution and governance. There was no ICO or pre-mine, and the developer fund exists as a percentage of mining rewards as voted by the community. This developer fund is 100% governed by a decentralized autonomous organization – currently facilitated by the PascalCoin Foundation – that will eventually be transformed into an autonomous smart contract platform. Not only is the developer fund voted upon by the community, but PascalCoin’s development roadmap is also voted upon the community via the Protocol Improvement Proposals (PIPs).
This decentralized governance also serves an important benefit as a powerful deterrent to unseemly fork wars that befall many cryptocurrencies.
Part #10: Common Misconceptions of PascalCoin
“The branding is terrible”
PascalCoin is currently working very hard on its image and is preparing for several branding and marketing initiatives in the short term. For example, two of the core developers of the PascalCoin recently interviewed with the Fox Business Network. A YouTube replay of this interview will be heavily promoted.
Some people object to the name PascalCoin. First, it’s worth noting that PascalCoin is the name of the project while Pascal is the name of the underlying currency. Secondly, Google and YouTube received excessive criticisms back then in the beginning with their name choices. Look at where those companies are nowadays – surely a somewhat similar situation faces PascalCoin until the name’s familiarity percolates into the public.
“The wallet GUI is terrible”
As the team is run by a small yet extremely dedicated developers, multiple priorities can be challenging to juggle. The lack of funding through an ICO or a pre-mine also makes it challenging to accelerate development. The top priority of the core developers is to continue developing full-time on the groundbreaking technology that PascalCoin offers. In the meantime, an updated and user-friendly wallet GUI has been worked upon for some time and will be released in due time. Rome wasn’t built in one day.
“One would need to purchase a PASA in the first place”
This is a complicated topic since PASAs need to be commoditized by the SafeBox’s design, meaning that PASAs cannot be obtained at no charge to prevent systematic abuse. This raises two seemingly valid concerns:
· As a chicken and egg problem, how would one purchase a PASA using Pascal in the first place if one cannot obtain Pascal without a PASA?
· How would the price of PASAs stay low and affordable in the face of significant demand?
With regards to the chicken and egg problem, there are many ways – some finished and some unfinished – to obtain your first PASA as explained on the “Get Started” page on the PascalCoin website:
https://www.pascalcoin.org/get_started
More importantly, however, is the fact that there are few methods that can get your first PASA for free. The team will also release another method soon in which you could obtain your first PASA for free via a single SMS message. This would probably become by far the simplest and the easiest way to obtain your first PASA for free. There will be more new ways to easily obtain your first PASA for free down the road.
What about ensuring the PASA market at large remains inexpensive and affordable following your first (and probably free) PASA acquisition? This would be achieved in two ways:
· Decentralized governance of the PASA economics per the explanation in the FAQ section on the bottom of the PascalCoin website (https://www.pascalcoin.org/)
· Unlimited and free pseudo-PASAs based on layer-2 in the next version release.
“PascalCoin is still centralized after the release of RandomHash”
Did the implementation of RandomHash from version 4 live up to its promise?
The official goals of RandomHash were as follow:
(1) Implement a GPU & ASIC resistant hash algorithm
(2) Eliminate dual mining
The two goals above were achieved by every possible measure.
Yet a mining pool, Nanopool, was able to regain its hash majority after a significant but a temporary dip.
The official conclusion is that, from a probabilistic viewpoint, solo miners are more profitable than pool miners. However, pool mining is enticing for solo miners who 1) have limited hardware as it ensures a steady income instead of highly profitable but probabilistic income via solo mining, and 2) who prefer convenient software and/or GUI.
What is the next step, then? While the barrier of entry for solo miners has successfully been put down, additional work needs to be done. The PascalCoin team and the community are earnestly investigating additional steps to improve mining decentralization with respect to pool mining specifically to add on top of RandomHash’s successful elimination of GPU, ASIC, and dual-mining dominance.
It is likely that the PascalCoin community will promote the following two initiatives in the near future:
(1) Establish a community-driven, nonprofit mining pool with attractive incentives.
(2) Optimize RHMiner, PascalCoin’s official solo mining software, for performance upgrades.
A single pool dominance is likely short lived once more options emerge for individual CPU miners who want to avoid solo mining for whatever reason(s).
Let us use Bitcoin as an example. Bitcoin mining is dominated by ASICs and mining pools but no single pool is – at the time of this writing – even close on obtaining the hash majority. With CPU solo mining being a feasible option in conjunction with ASIC and GPU mining eradication with RandomHash, the future hash rate distribution of PascalCoin would be far more promising than Bitcoin’s hash rate distribution.
PascalCoin is the Unicorn Cryptocurrency
If you’ve read this far, let’s cut straight to the point: PascalCoin IS the unicorn cryptocurrency.
It is worth noting that PascalCoin is still a young cryptocurrency as it was launched at the end of 2016. This means that many features are still work in progress such as zn-SNARKs, smart contracts, and pool decentralization to name few. However, it appears that all of the unicorn criteria are within PascalCoin’s reach once PascalCoin’s technical roadmap is mostly completed.
Based on this expository on PascalCoin’s technology, there is every reason to believe that PascalCoin is the unicorn cryptocurrency. PascalCoin also solves two fundamental blockchain problems beyond the unicorn criteria that were previously considered unsolvable: blockchain size and simple address system. The SafeBox pushes PascalCoin to the forefront of cryptocurrency zeitgeist since it is a superior solution compared to UTXO, Directed Acyclic Graph (DAG), Block Lattice, Tangle, and any other blockchain innovations.


THE UNICORN

Author: Tyler Swob
submitted by Kosass to CryptoCurrency [link] [comments]

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