c++ - Computing factorials - Code Review Stack Exchange
c++ - Computing factorials - Code Review Stack Exchange
C program to find factorial of a given number using ...
C program to find factorial of a given number using ...
Triangular Arbitrage Bitcoin Bot in Python - Example Code ...
java - how to code a factorial - Stack Overflow
Tkeycoin — security, that’s what we’re betting on
Today we will talk about the security of using the Tkeycoin platform and the TKEYSPACE mobile blockchain wallet. Tkeycoin is a peer-to-peer payment system based on p2p principles and the concept of electronic cash. P2P technology is a fairer means of mutual settlements between users and companies around the world. Modern payment systems are imperfect and may depend on the will of high-ranking officials. We approached the market from an economic and scientific point of view, borrowing the best from Bitcoin, Ethereum, DASH, and other alternative currencies, mixing modern concepts and building on the global experience of IBM, Microsoft and a number of other companies and research. The Tkeycoin blockchain is protected by various mechanisms that include advanced cryptographic methods and mathematical models of behavior and decision-making. Blockchain technology prevents duplication or destruction of digital assets. https://i.redd.it/idy42g9rntx41.gif In addition to providing security and recording transactions in registers, cryptography also plays a role in ensuring the security of wallets used to store Tkeycoin. Paired public and private keys, which respectively allow users to receive and send payments, are created using asymmetric encryption or public-key cryptography. Public keys are used to generate digital signatures for transactions, which allows you to authenticate ownership of the coins being sent. https://i.redd.it/95yuky0tntx41.gif The asymmetric cryptography architecture does not allow anyone other than the owner of the private key to access funds stored in the cryptocurrency wallet, so these funds are kept safe until the owner decides to spend them. In simple words, in the Tkeycoin peer-to-peer system, only you are the real owner of your money and only You have access to it. Using tools such as a local Tkeycoin Core wallet or TkeySpace provides you with reliable storage, privacy, and security. TkeySpace, in turn, adds maximum usability by combining the highest level of security and easy intuitive design. https://i.redd.it/f0de51vuntx41.gif
How does TKEYSPACE provide security?
TKEYSPACE is one of the first applications that support blockchain in a mobile device and is also the first decentralized application of the TKEY platform. Its serverless architecture provides the highest level of security for storing all assets in the application. unlike centralized applications that are managed by companies, TkeySpace does not have a Central management authority and operates in accordance with all the principles of peer-to-peer networks. https://preview.redd.it/4bret8hwntx41.png?width=1253&format=png&auto=webp&s=535c5d879a36eac4ca8c807ee7af1b5fe05e12a9 As we said above, the wallets in the blockchain have a public and private key. Centralized applications usually store users ‘private keys on their servers, which makes users’ funds vulnerable to hacker attacks or theft. TkeySpace-stores the encrypted key only on the user’s device and in encrypted form. The encrypted key is displayed as a mnemonic phrase (backup phrase), which is very convenient for users. Unlike complex cryptographic ciphers, the phrase is easy to save or write. The backup phrase provides the maximum level of security and thanks to its usual appearance, an attacker is unlikely to ever guess what these words are and what they are for. A mnemonic phrase is 12 or 24 words that are generated using random number entropy. If the phrase consists of 12 words, then the number of possible combinations is 2048¹² or 211³² — the phrase will have 132 security bits. To restore the wallet, you must enter the mnemonic phrase in the strict order as it was presented after generation. And so that you do not get confused in the definitions and concepts, we will briefly describe simple and clear principles of how it all works. Let’s look briefly at the factors.
The simplest thing that protects your phone from unauthorized access is Pincode, a snake, a fingerprint or a Face Id login. And it would seem that this is related to TKEYSPACE? https://i.redd.it/sspjjsgyntx41.gif
At a minimum, it is almost impossible to open new mobile devices and pick up a pin code, even in the case of theft, most often the factory settings are reset, which leads to the deletion of all data on the phone, respectively-your funds are safe even for this reason.
Even if there was some “craftsman” and somehow managed to change the pin code on your device, the TKEYSPACE app will automatically delete all the keys and backup phrases, the wallet will simply be empty, and the attacker will be left with nothing.
As we can see, even a simple screen lock with a pin or fingerprint protects your data. It’s not as simple a screen lock as you and I might think. Every platform, whether it’s Android or AppStore, uses specialized key stores. Cryptography, symmetric and asymmetric encryption, keys, and certificates are directly related to this task. Keys and certificates that are used to protect information must also be securely protected. Android uses Keystore, a certificate and a Keystore, for this purpose. Keystore is a specialized secret data store that is used by Java applications to encrypt, authenticate, and establish HTTPS connections.
For two-way authentication, the client and server exchange certificates, respectively, and the server and client must have a Keystore with a private/public key pair and a certificate. In other words, the Keystore is used to store keys and certificates that are used to identify the key owner (client or server).
Starting with Android 8, the encryption systems have been upgraded, the system is checked for signs of hacking at startup, and the screen lock allows you to restrict access to the device. Data encryption and the use of keys ensure the security of information when it is stored and transmitted. https://i.redd.it/2c0b9re1otx41.gif In the new version of the OS — Android 9 (Pie) — the developers also added support for hardware to protect against unauthorized changes. Android apps run in an isolated software environment that restricts access to your information to other apps. OS components are also protected, which prevents attackers from exploiting system errors for their purposes. Android uses both hardware and software to protect users and their data. Therefore, even at the operating system level, there are a lot of security factors. Of course, if you “flash” the phone (change the factory firmware) and enable Root access, this will reduce the security of Your device, but this is more an exception than a rule and such changes are usually introduced by very experienced users. IOS uses Keychain — a specialized database for storing metadata and confidential information. Using a Keychain is the best practice for storing small pieces of data that are critical to your apps, such as secrets and passwords. In addition to the Keychain, Apple provides a full range of maximum protection for Your device. And so we will continue,
Passcode in the app
Now we understand that to get access to the tools, an attacker needs to hack the hardware security of the Google and Apple giants to somehow get access to the app, which is impossible. To increase security and eliminate other risk factors, we have included an access code (secret code) in the app. You set an additional level of security by enabling a pin code to log in to the app. The access code additionally encrypts all data stored in the app. Just so you understand — it’s not just numbers that you enter on the screen, this combination affects the ciphers inside the app. When creating a key, a user interface element is called. when the user swipes the screen, the application receives a random set of bytes — thus, all information is additionally covered by a new layer of cryptography. And as we said above, if you try to disable the pin code, the app will delete all the data, and the attacker will be left with nothing. As we have already realized, only 2 of these factors provide the maximum level of security for the TKEYSPACE application. And the most important thing is that the application runs on the blockchain, which guarantees its full Autonomous operation, data immutability, and privacy. Generation of new addresses, absence of accounts, phone numbers, e-mail and other personal data-provides you with a social level of security, which is a huge advantage in our time. In a world where security is based on the level of cryptography, attackers try to influence You with the human factor using social engineering, so when you use applications with accounts, phone numbers, you have more risks.
Social engineering is a method of obtaining the necessary access to information based on the characteristics of human psychology.
For example, a copy of a SIM-card has become a new tool for fraudsters, but there is no personal information in TKEYSPACE, so even such groups of fraudsters can’t get access to your funds.
You don’t have to worry about security — it’s already built into the TKEYSPACE system.
A mixed encryption system based on the principles of computational complexity, with the deterministic generation of signatures using elliptic curves, provides absolute security and safety of user funds, and reserve phrases will help you restore funds at any moment. A mnemonic phrase is 12 or 24 words that are generated using the entropy of random numbers. If the phrase consists of 12 words, then the number of possible combinations is 2048¹² or 211³² — the phrase will have 132 security bits. To restore the wallet, you must enter the mnemonic phrase in the strict order as it was presented after generation. Only you and no one else has access to the phrase. When you get the key, the app has restrictions on the screenshot, and the clipboard is disabled, which protects against malicious software. It is you, as a user, who sees the phrases, and everything in the device is encrypted, the blockchain architecture protects against hacker attacks, information forgery, and other hacks. For those who are a bit obsessed with persecution mania, we offer a small lifehack:
Buy several USB drives, connect them to a device that does not have access to the Internet, preferably on a clean operating system, create a text file, write backup phrases there, and encrypt the USB drives with passwords.
Re-Launching The Borderless, Unkillable Crypto-Fiat Gateway, DAIHard. Enter or Exit Crypto via Any Fiat and Any Payment Method, Anywhere in the World, Without KYC. All you need is a little Dai.
Some of you might recall recall our initial facepalm failed launch about 3 months ago (post-mortem here). Well, we're back--this time with an audit and some new features. This version of DAIHard should should die a little harder this time ;)
After shopping around a bit in the auditor space, we decided to go with Adam Dossa--the very same Adam Dossa that actually found our launch vulnerability and responsibly disclosed it to us! You can see his report here. By the way, Adam has been a gem: friendly, professional, timely, and flexible. Definitely keep him in mind if you need an audit!
Following is an updated version of our original launch post. If you've already read that, you might want to skip to the heading What's New in v0.9.2. Or you can go straight to the app or go to our info site for more info! Here is a legitimate concern most of us are familiar with:
To enter or exit the crypto economy, we rely on centralized exchanges such as Coinbase, which track their users, impose limits, and are tightly coupled to their jurisdiction and its banking system. And for all we know, any day now regulations could start tightening these controls further (*we've actually seen some of this play out in the two months since our first launch post). In light of this, can we say in any meaningful sense that crypto is anonymous, limtiless, borderless, immune to regulation, and (most importantly) unstoppable?
To really address this concern, we need a completely decentralized gateway between fiat and crypto: something that extends the benefits of crypto to the very act of moving between the old and new economies. But the design of such a platform is far from obvious. (Localethereum comes close, but as discussed under Unkillable, it doesn't quite cut it. And Bisq is decentralized, but has significant UX hurdles.) We believe we've found a solution. We are proud to present:
DAIHard v0.9.2 - Almost Definitely Not Broken This Time
If you want to jump right in, we recommend first watching our latest usage demo (7 min), then diving in and giving it a shot with a small amount of Dai. (Try it on Kovan first if mainnet is too scary!) DAIHard extends many of the promises of crypto (borderless, anonymous, limitless, unstoppable) into the exchange mechanism itself, allowing anyone, anywhere to bypass centralized exchanges and the control they impose. More concretely, DAIHard is a platform, run on smart contracts, for forming one-off crypto/fiat exchanges with other users, in which:
The method of fiat transfer is open-ended, but agreed upon up-front (for example: bank transfer, cash handoff, transfer of online credit, cash drop...).
You and the counterparty can communicate via end-to-end encrypted chat to coordinate the fiat transfer (i.e. communicate bank account number or reveal a cash drop location).
Crucially, in the last phase, the Seller can choose to burn the Dai instead of releasing it to the Buyer (but he can't get it back). This credible threat of burn is what makes the platform reliable in the absence of a centralized group of arbitrators or moderators. For more on this see the DAIHard Game Theory medium article (10 min read).
You Need either xDai, or both Dai and Ether, to Use The Tool (At Least For Now)
If you want to buy Dai on DAIHard, you must already have Dai--1/3 of the amount you want to purchase--to put up as a burnable deposit. For example, if you only have 10 Dai now, you can only commit to buying 30 Dai, and must complete that trade before using the newly bought Dai to open up a bigger offer (for up to 120 Dai that time). Most tragically of course, this means that if you don't already have some crypto, you can't use this tool to get crypto--this is why we avoid calling DAIHard an onramp specifically. This comes from the fact that both parties must have "skin in the game" for the game theory to work, and a smart contract can only threaten to burn crypto. We have some ideas on how to address this drawback in the not-too-distant future, which we'll write about soon. For now it's time to launch this thing and get some users!
Dangerous and Scary To Use
In rare cases, a user may have to burn Dai and face a loss on the entire trade amount. The necessity of this ever-present risk is explained in detail in DAIHard Game Theory. However, a cautious, rational user can gather information (possibly via our [subreddit](daihard)!) about how people have used the tool, successfully and unsuccessfully. They can then create a buy or sell offer with wisely chosen settings based on what has worked for others. Other cautious, rational users can find this offer and commit to the trade if they dare. We expect the vast majority of committed trades should involve rational, cautious users, and should therefore resolve happily. Still, inevitably there will be sloppy trades that result in burns. As the tool is used, we'll be keeping a close eye on the frequency of burns and keeping you guys updated (perhaps via a "System Status" utility similar to the one found on MakerDao's explorer). In the end, though, we expect the risk in using DAIHard to be comparable to the risk of using any exchange or DNM: ever-present but low enough for the platform to be useful as whole. So, while DAIHard will never shut down and can't perform an exit scam, the bad news is it's not risk-free. Users will have to approach DAIhard with the same level of caution they would with any new exchange (albeit for different reasons and with a different approach). So what's the good news?
The Good News
While these drawbacks are significant, they enable some remarkable features that no other crypto/fiat exchange mechanism can boast.
(Correction: Bisq seems to have a decentralized arbitration system) We are aware of no other crypto/fiat exchange platform that is truly unkillable. Bisq and localethereum comes close, but both localethereum relies on centralized processes of arbitration. This means their fraud-and-scam-prevention system can be sued, jailed, or otherwise harrassed--and if that part stops working, it doesn't matter how decentralized the rest of the system was. DAIHard, in contrast, gives the users the power to police and punish each other, via the aforementioned credible threat of burn. This is simple game theory, and the rules of this game are etched permanently into the DAIHard Factory and Trade contract code: impervious to litigation, regulation, and political pressure. This Factory contract has no owner and no suicide or pause code. It cannot be stopped by us or anyone else. Like Toastycoin, this thing was immortal the moment it was deployed (even more immortal than RadarRelay, for example, which does rely on an ownership role). Both DAIHard and Toastycoin (and probably whatever we build next) will last for as long as a single Ethereum node continues mining, and it will remain easy to use as long as someone can find the HTML/JS front-end and a web3 wallet. (The HTML/JS front-end (built in Elm, by the way, with the lovely elm-ethereum!) is currently hosted on Github pages, which is centralized--but even if Github takes down the page and deletes the code, it's a minor step to get the page hosted on IPFS, something that is on our near-term roadmap in any case)
No KYC, No Limits
It's smart contracts all the way down, so DAIHard never asks any nosy questions--if you have Metamask or some other web3 wallet installed and set up, with some ETH and Dai (or just xDai), you can immediately open or commit to a trade. You don't even need a username! (In fact, we're so inclusive, even machines are allowed--no CAPTCHA here!) You're limited only by the collateral you put up, so if you have 10,000 Dai you could open up a buy offer for 30,000 Dai (or a sell offer for 10,000 Dai) right now. We do reccommend trying the tool out first with a small amount of Dai... But we're not your mom! Do what you want!
It simply doesn't matter where you are, because DAIHard doesn't need to interface with any particular jurisdiction or payment system to work. DIAHard works by incentivizing people (or robots?) to navigate the particular real-world hurdles of bank transfers, cash drops, or other fiat transfer methods. These incentives work whether you're in America, Zimbabwe, or the Atlantic; they work whether the fiat is USD, EUR, ZAR, seashells, or Rai Stones; and they work whether your counterparty is a human, an organization, a script, or a particularly intelligent dog with Internet access.
Any Fiat Type, and Highly Customizeable
Here are some examples of the types of trades you might create or find on DAIHard.
Sell 5 xDai for $5 USD, sent via TransferWise.
Sell 200 Dai for $180 USD, granted they bring the cash to you by tomorrow afternoon in Central Park, NYC.
Buy 20 Dai with a $30 gift card for Amazon AWS that you were never going to use.
Sell 20 Dai in exchange for a $20 Steam game.
While in Vietnam, sell 200 Dai to someone for €180 anytime in the next two weeks, provided they deposit it into your German bank account.
While in Germany, sell 20 Dai to someone in exchange for them refilling your pre-paid Vietnamese phone plan.
Buy 500 Dai for $550 via PayPal, but wait 3 weeks for before the Dai is released (so the paypal transaction can't be reversed).
As the DAIHard community grows, users will doubtless find much more creative ways to use the system, and we will discover together which types of trades are reliable and which are more risky. Because users can set their own prices and phase timeout settings, we expect the risky trades to charge a premium or have longer time windows, while the reliable ones rapidly multiply at close to a 1:1 price ratio, with quick turnaround times.
Extensible (with profit) by Third Parties
Not satisfied with our interface? Do you have some nifty idea for how to display and organize user reputation? Or maybe some idea for how trades could be chained togeher? Maybe you'd like to design a notification system for DAIHard? Maybe you just want a different color scheme! Well, you won't need our permission to do any of this. Any tool that watches the same Factory contract will share the pool of trades, regardless of which tool actually creates the trade. This means we don't even have to fight over network effects! And if you look closely at our fee structure, you might notice that only half of the 1% DAIHard fee is "hardcoded" into the Factory contract. The other half is set and charged by our interface. What does this mean for you? If you go out and make a better interface, you can essentially replace half of our 1% fee with your own fee--it's up to you whether it's smaller or larger than the replaced 0.5%. The reason for this is to explicitly welcome other developers to extend what we've built. For as long as our team is the only one improving the platform, a threat to us is a threat to future upgrades. But if others begin extending the DAIHard platform too, then DAIHard will not only be unstoppable as it is today, but also grow unstoppably.
(For Real This Time) This Is a Big Fucking Deal
DAIHard is a turning point in crypto and a breakthrough in decentralized markets, and is an irreversible augmentation of the Ethereum platform. What we've built is a gateway to crypto completely devoid of centralized components--rendering entry and exit to crypto unkillable, flexible, borderless, and private. Centralized exchanges, and the control they impose, can now be bypassed by anyone with Dai and a web3 wallet.
What's New in v0.9.2
There have been many changes made since our first failed launch, but there are two rather important ones: xDai support and reputation tools.
DAIHard is now operational on xDai, a sidechain whose native token (xDai) is pegged to the Dai (and therefore $1). Add the xDai network to your Metamask (or just install Nifty Wallet), then switch to the xDai network in your wallet, to try it out. xDai has some pretty incredible benefits, compared to vanilla Ethereum:
Price: On xDai, a single DAIHard trade costs on the order of $0.01 to run start-to-finish, rather than the accumulated $2.40 (with the best-case-scenario 1gwei gas price) you'll spend on vanilla Ethereum.
Speed: Trade actions mine much faster, and don't require ERC20 'approve' transactions, making the whole process way snappier.
Gas priced in xDai: the main benefit here is that you only need one token (xDai) rather than two (Dai and Eth). Also, it's just nice having the gas cost expressed in (essentially) USD!
We now have a few reputation tools. First, on any open trade, there is a widget showing the number of releases, aborts, and burns the given address has been involved in as that role (buyer or seller). Clicking on this expands the widget to show more detailed information, and also provides a link to a page that lists each trade this user has been or is involved in.
We have tons of ideas on how to improve the product--too many, in fact, to commit to any before we get a good chunk of user feedback. Here are some of our favorite ideas:
A "QuickTrade" page, offering Trade Templates as an alternative to the current Create Offer page.
Big Exciting Features
Bootstrapping people with no DAI via other mechanisms and community outreach.
Partial commits to trades. eg. Place a 10,000 DAI trade and allow it to be picked up in blocks larger than 500 DAI at a time.
More chains, get this thing working on Bitcoin via Rootstock, on Ethereum Classic and Binance Chain.
A lot of the above features will be prioritized more clearly as we get user feedback, and we will be posting fairly frequent updates and articles on our info site. If you don't want to miss anything, note the subscribe widget and sign up!
Technical: The `SIGHASH_NOINPUT` Debate! Chaperones and output tagging and signature replay oh my!
Bitcoin price isn't moving oh no!!! You know WHAT ELSE isn't moving?? SIGHASH_NOINPUT that's what!!! Now as you should already know, Decker-Russell-Osuntokun ("eltoo") just ain't possible without SIGHASH_NOINPUT of some kind or other. And Decker-Russell-Osuntokun removes the toxic waste problem (i.e. old backups of your Poon-Dryja LN channels are actively dangerous and could lose your funds if you recover from them, or worse, your most hated enemy could acquire copies of your old state and make you lose funds). Decker-Russell-Osuntokun also allows multiparticipant offchain cryptocurrency update systems, without the drawback of a large unilateral close timeout that Decker-Wattenhofer does, making this construction better for use at the channel factory layer. Now cdecker already wrote a some code implementing SIGHASH_NOINPUT before, which would make it work in current pre-SegWit P2PKH, P2SH, as well as SegWit v0 P2WPKH and P2WSH. He also made and published BIP 118. But as is usual for Bitcoin Core development, this triggered debate, and thus many counterproposals were made and so on. Suffice it to say that the simple BIP 118 looks like it won't be coming into Bitcoin Core anytime soon (or possibly at all). First things first: This link contains all that you need to know, but hey, maybe you'll find my take more amusing. So let's start with the main issue.
Signature Replay Attack
SIGHASH_NOINPUT basically means "I am authorizing the spend of any coin of this particular value protected by my key, to be spent to these addresses".
Of note is that the default SIGHASH_ALL means "I am authorizing the spend of this particular coin of this particular value protected by my key, to be spent to these addresses".
So suppose you were to engage in address reuse. This is highly discouraged behavior, but people are people, people are lazy, and etc. etc. In practice it happens.
Now suppose you had two deposits of equal size, in the same address that you have been reusing.
Now further suppose that for some reason, your wallet signs using SIGHASH_NOINPUT only. luke-jr has even promised to write one when SIGHASH_NOINPUT is implemented, so you don't even need to go search for one, you just pester luke-jr to release it.
So you got two UTXOs, of equal value, to the same address.
You spend one UTXO, signing with SIGHASH_NOINPUT, to pay almkglor because he's so awesome at explaining Bitcoin things and deserves to be paid for it.
almkglor realizes you've used SIGHASH_NOINPUTand that you engaged in address reuse. He writes a new transaction spending your other UTXO of same value and same address, reusing the same signature ("Signature Replay") that was publicly attached to your previous tx. The signature authorizes the spend of any coin protected by that key.
Since luke-jr is strongly against address reuse, he will just LOL at you for doing address reuse with his wallet software and mark your bugreports with wontfix, gendopose, allaccordingtothescenario.
The above is the Signature Replay Attack, and the reason why SIGHASH_NOINPUT has triggered debate as to whether it is safe at all and whether we can add enough stuff to it to ever make it safe. Now of course you could point to SIGHASH_NONE which is even worse because all it does is say "I am authorizing the spend of this particular coin of this particular value protected by my key" without any further restrictions like which outputs it goes to. But then SIGHASH_NONE is intended to be used to sacrifice your money to the miners, for example if it's a dust attack trying to get you to spend, so you broadcast a SIGHASH_NONE signature and some enterprising miner will go get a bunch of such SIGHASH_NONE signatures and gather up the dust in a transaction that pays to nobody and gets all the funds as fees. And besides; even if we already have something you could do stupid things with, it's not a justification for adding more things you could do stupid things with. So yes, SIGHASH_NOINPUT makes Bitcoin more powerful. Now, Bitcoin is a strong believer in "Principle of Least Power". So adding more power to Bitcoin via SIGHASH_NOINPUT is a violation of Principle of Least Power, at least to those arguing to add even more limits to SIGHASH_NOINPUT. I believe nullc is one of those who strongly urges for adding more limits to SIGHASH_NOINPUT, because it distracts him from taking pictures of his autonomous non-human neighbor, a rather handsome gray fox, but also because it could be used as the excuse for the next MtGox, where a large exchange inadvertently pays to SIGHASH_NOINPUT-using addresses and becomes liable/loses track of their funds when signature replay happens.
Making SIGHASH_NOINPUT safer by not allowing normal addresses use it. Basically, we have 32 different SegWit versions. The current SegWit addresses are v0, the next version (v1) is likely to be the Schnorr+Taproot+MAST thing. What output tagging proposes is to limit SegWit version ranges from 0->15 in the bech32 address scheme (instead of 0->31 it currently has). Versions 16 to 31 are then not valid bech32 SegWit addresses and exchanges shouldn't pay to it. Then, we allow the use of SIGHASH_NOINPUT only for version 16. Version 16 might very well be Schnorr+Taproot+MAST, with a side serving of SIGHASH_NOINPUT. This is basically output tagging. SIGHASH_NOINPUT can only be used if the output is tagged (by paying to version 16 SegWit) to allow it, and addresses do not allow outputs to be tagged as such, removing the potential liability of large custodial services like exchanges. Now, Decker-Russell-Osuntokun channels have two options:
Make the funding txo pay to a version 16 SegWit.
Make the funding txo pay to a version 0/1 SegWit.
The tradeoffs in this case are:
If the funding txo pays to a version 16 SegWit, then anyone analyzing the blockchain can point at a version 16 SegWit txo and conclude it was used for the Lightning Network, because seriously, there's little other use for SIGHASH_NOINPUT other than that (well there's certain limited kinds of vault-like constructions, but for the most part, the balance of probability will be that it's a LN channel).
Of note is that even non-published channels will likely be trackable via the funding txo paying to version 16 SegWit, which is published onchain.
Also, current already-closed published Poon-Dryja channels, that are closed by mutual close instead of unilateral, are indistinguishable onchain from ordinary spends. Trackers that want to keep track of Lightning usage need to store the information themselves, about such published channels that have been closed; the LN won't store it for them, so that at least moves the burden of storing that information to the surveillors, and fuck them anyway.
If the funding txo pays to a version 0/1 SegWit, then in the unilateral case we need to have an additional transaction that takes the funding txo and pays to a version 16 SegWit. This adds more overhead in the unilateral close case, and unilateral close in Decker-Russell-Osuntokun already needs two txes (an update and settlement tx); this adds one more tx, a "converter" from version 0/1 SegWit to version 16 SegWit.
This lets mutual closes indistinguishable from ordinary spends onchain. Unilateral closes are still obvious, but even today in the Poon-Dryja world unilateral closes are plenty darn obvious (very specific SCRIPT templates are used).
The latter tradeoff is probably what would be taken (because we're willing to pay for privacy) if Bitcoin Core decides in favor of tagged outputs. Another issue here is --- oops, P2SH-Segwit wrapped addresses. P2SH can be used to wrap any SegWit payment script, including payments to any SegWit version, including v16. So now you can sneak in a SIGHASH_NOINPUT-enabled SegWit v16 inside an ordinary P2SH that wraps a SegWit payment. One easy way to close this is just to disallow P2SH-SegWit from being valid if it's spending to SegWit version >= 16.
Closing the Signature Replay Attack by adding a chaperone. Now we can observe that the Signature Replay Attack is possible because only one signature is needed, and that signature allows any coin of appropriate value to be spent. Adding a chaperone signature simply means requiring that the SCRIPT involved have at least two OP_CHECKSIG operations. If one signature is SIGHASH_NOINPUT, then at least one other signature (the chaperone) validated by the SCRIPT should be SIGHASH_ALL. This is not so onerous for Decker-Russell-Osuntokun. Both sides can use a MuSig of their keys, to be used for the SIGHASH_NOINPUT signature (so requires both of them to agree on a particular update), then use a shared ECDH key, to be used for the SIGHASH_ALL signature (allows either of them to publish the unilateral close once the update has been agreed upon). Of course, the simplest thing to do would be for a BOLT spec to say "just use this spec-defined private key k so we can sidestep the Chaperone Signatures thing". That removes the need to coordinate to define a shared ECDH key during channel establishment: just use the spec-indicated key, which is shared to all LN implementations. But now look at what we've done! We've subverted the supposed solution of Chaperone Signatures, making them effectively not there, because it's just much easier for everyone to use a standard private key for the chaperone signature than to derive a separate new keypair for the Chaperone. So chaperone signatures aren't much better than just doing SIGHASH_NOINPUT by itself, and you might as well just use SIGHASH_NOINPUT without adding chaperones. I believe ajtowns is the primary proponent of this proposal.
Toys for the Big Boys
The Signature Replay Attack is Not A Problem (TM). This position is most strongly held by RustyReddit I believe (he's the Rusty Russell in the Decker-Russell-Osuntokun). As I understand it, he is more willing to not see SIGHASH_NOINPUT enabled, than to have it enabled but with restrictions like Output Tagging or Chaperone Signatures. Basically, the idea is: don't use SIGHASH_NOINPUT for normal wallets, in much the same way you don't use SIGHASH_NONE for normal wallets. If you want to do address reuse, don't use wallet software made by luke-jr that specifically screws with your ability to do address reuse. SIGHASH_NOINPUT is a flag for use by responsible, mutually-consenting adults who want to settle down some satoshis and form a channel together. It is not something that immature youngsters should be playing around with, not until they find a channel counterparty that will treat this responsibility properly. And if those immature youngsters playing with their SIGHASH_NOINPUT flags get into trouble and, you know, lose their funds (as fooling around with SIGHASH_NOINPUT is wont to do), well, they need counseling and advice ("not your keys not your coins", "hodl", "SIGHASH_NOINPUT is not a toy, but something special, reserved for those willing to take on the responsibility of making channels according to the words of Decker-Russell-Osuntokun"...).
Dunno yet. It's still being debated! So yeah. SIGHASH_NOINPUT isn't moving, just like Bitcoin's price!!! YAAAAAAAAAAAAAAAAAAA.
Hello everyone! We know that you have been expecting the 2017 annual report from us, since we promised it. Unfortunately (or maybe fortunately), since the beginning of the year and to this moment, we are exclusively focused on development. Creating an annual video requires the diversion of a large number of developers from their current tasks; therefore, the report was suspended. In the annual report, we usually also talk about our plans for the next year. Therefore, we have decided to present these plans at least in the form of a text so that you could gain an understanding of what shall come to Escape from Tarkov in 2018. First and foremost, we are preparing the launch of the Open Beta Testing. To make sure everything goes smoothly with this launch, we are now polishing the game’s technical aspects above everything else, namely: Fixing all possible errors that break the gameplay or game:
Errors that cause drops in performance
Errors that make the game crash
Errors that prevent you from playing further (all sorts of inventory and weapon-related hang-ups and freezes)
Other technical errors that rarely occur but don’t allow playing either.
We are optimizing and fixing the network code, striving to eliminate the cases of desync, reduce delays and get rid of disconnects.
Part of the works has already been done, significantly reducing delays, but the process is ongoing.
We are also working on matchmaker adjustment, increasing its accuracy to ensure the minimum latency for players.
Servers get optimized as well in terms of CPU use, memory and traffic, allowing to use the resources of server machines with more efficiency, improving the overall quality of online play.
Fixing server-side errors that lead to significant drops in the performance of the server application, resulting in consecutive desyncs and disconnects.
Optimizing game performance
Investigating and repairing all possible causes of abnormally high CPU load. EFT is putting CPU under quite a stress, and the main causes of low performance are the following: physics, animation system, in-game logic, CPU-based graphics processing. The first two reasons take up more than a half of overall game performance, so we are focused on fixing and optimizing these components. We are refactoring physics, optimizing animation system and simplify the animation events.
We have introduced new additional means of optimizing locations. For example, the new Interchange location is done with full employment of the new methods, and after its release we’ll be sure to optimize all the old maps as well.
In general, we can say with confidence that there is still considerable potential for optimization.
Beside technical preparations for OBT, we are balancing everything there already is in the game, add new content and key features. The Open Beta is to feature the new Interchange location, new quests, weapons, equipment and other items. All this will be uploaded as part of few upcoming patches prior to Open Beta launch for additional testing.
It’s also worthwhile to note that we have already started the preliminary preparations for transition to the new version of Unity 2018, and the engine developer company specialists are providing us with prolific support on that matter. And now, a little about the new features, which are planned to be included in the game this year. Most importantly, I want to emphasize that EFT will continue to go down hardcore the road, with ceaseless improvement of realistic component. In other words, the game will be becoming more realistic and hard. The desired degree of immersion and realism will be achieved through introduction of various features to complement the current system. Let’s review just some of the features that are on top of the planned list. Time-consuming magazine loading This feature is already being implemented. When in raid, you will not be able to instantly load the magazine with cartridges. Loading every cartridge will take time, and it can only be done in the inventory. Same goes for unloading of ammo from the mag (though time required to unload one cartridge is less than time required to load it.). Later on we will add special animations of loading and unloading ammo. This feature is closely connected to another innovation: - the exact values of remaining ammo will be removed from inventory -- you will need to use the option of checking the number of rounds left in the magazine and in chamber. Loading or unloading rate will be affected by the character health condition, skills and/or weapon mastering. Outside the raid, ammo will be loaded/unloaded immediately, and its number will always be determined precisely. Animations for medical supplies, food and other consumables Such items are now used "in the background" while you can keep firing, which is, of course, absolutely not realistic. In the future you will not be able to use weapons while getting treatment or eating. Off-raid treatment and parameters recovery A very important innovation which will get rid of magical full recovery of health and other parameters after exiting the raid. Now the health will have to be improved after the raid, either by waiting a certain time to regenerate or by using medical kits, food and water. Health rehabilitation rate will be connected to another major feature -- the Hideout. Smoke grenades We already have prepared models, animations and effects of smoke grenades, both Western and Soviet/Russian. They will be useful for creating smoke screens in dangerous situations. The smoke is physically adequate and great at filling up indoor premises. Under-barrel grenade launchers It’s a long-announced feature that turned out to entail a lot of difficulties while adding it to the game, especially on the part of network logic. Nevertheless, UBGL are getting be added to the game before long. Troubleshooting - Dealing with jamming, misalignment and misfires. Ammo quality. Introduction of this feature will make the players pay attention to tracking of the ammo quality and weapon state. Who knows, maybe out-of-commission AK will jam dead or even explode in your face, ending the raid prematurely. This feature is also related with weapon overheating. Improvement of medical supplies. Stimulants. Addiction, overdose and side effects from medicines. Stimulants will be sold by the Therapist and will improve your skills (even beyond the maximum level) for a limited time. Beware of side effects, though! Ongoing introduction of new skills In particular, faction-specific skills that will be available only to particular PMC. Scav leaders We are now actively adding new PvE enemies - Scav bosses, each with unique appearance, gear and behavior. Every such boss will be surrounded with an escort of hardened thugs who would desperately defend their chief. Personal quests Personal investigations that immediately uncover the pieces of game plot. Who are the Unknown? What the Cult is all about? What is the Ticket? Why has the fall of Tarkov even started what will it lead to? Flea market Feature that lets you put your own goods up for sale. It is also related to the Handbook (all examined items will be recorded there), search system (that will make possible, for instance, finding all the sales associated with AK-74N) and Kits (saving customized weapon kits, ability to share them and to quickly purchase missing parts) VoIP The ability to communicate with voice in the raid, with positioning and range of hearing. That’s how Radios will work later on. Changing the character appearance A special service provided by traders will allow to change the appearance of the character’s upper and lower body parts. At this point, we have 5 sets of apparel prepared for each faction. Thanks to this, you will have the opportunity to pick the camo more adequate to the particular task, daytime and terrain. New types of exits from locations There will be locations with no permanent exits, where you will need to use the flares to enable the extraction, thus attracting attention of everybody in the vicinity. Pre-purchase special exits in advance, before the start of the raid. Hideout A huge feature that adds the building and management of your own hideout. It’s upgrade and outfitting will increase the stash, speed up rehabilitation, add the possibility of crafting different items, including homebrew liquor and omnipresent bitcoin farm. All content assets are already complete - now it’s turn for programming logic and interfaces. Arena A separate game mode, full of interesting innovations. Competitive and exciting. Extensive coverage on the Arena will be out later. As mentioned above, this is just a part of the list of all the features that are going to be in the game. It’s also worth pointing out that this year we’ll have another iteration of graphics improvements without affecting performance - updated lighting, vegetation, shaders, post-effects. Also, the testing of updated character animations is already underway. Moreover, on top of that, we will add new weapons and a load of customizations for them, including functional two-barrel shotguns and revolvers. New equipment is going to include 10+ helmets, body armor, new tactical vests, other headgear, glasses, balaclavas, headsets. And, of course, new locations - after Intersection we are going to continue with Streets of Tarkov. On a parallel track, we’ll start building an indoor location with the same CQB spirit as Factory - the TerraGroup Lab. This year we are expecting to finish all the locations necessary to release. As you can see, the plans for 2018 are rather formidable. With your support, however, the work goes faster. Thank you for being with us! Escape from Tarkov for life! MORE FEAR - MORE GEAR!
Here's my email that I just sent to Coinkite: Hi, I just bought the coldcard, and I'd like to give some feedback. First some positive things, then a lot of improvement suggestions. I like the anti-phishing words. It seems pretty unlikely someone would phish a hardware device anytime soon, but its a great security addition with little downside. I like the screen, it feels very spacious and can contain plenty of content. I like the taper evident bag it came in, very obvious by opening it that it was not tampered with. The instructions on device are great, and much better than including an instruction manual. Its cool that it comes with an sd card slot for more airgapped use, tho I'm comfortable just using USB. I might consider using the encrypted backup feature with and sd card at some point. The very obvious caution/genuine light - tho when I first saw it, what i thought was (wouldn't a fake coldcard still say genuine?). I like that there's a shoot me symbol, and that the case it transparent so you can see inside. Now to the issues i had and improvements i'd like to see. So the first thing I realized is that passphrases are hard to input on the number pad. The number pad has no letters on it, so it doesn't help you input a word-based passphrase (which is best practice). I originally thought that transforming a passphrase into a string of numbers had to either be a huge pain or lose you tons of entropy. I thought that if you transformed each word of a passphrase into numbers 1 for 1 (eg "cat" would be "228"), it would require more words to have a strong passphrase. But actually, I did some analysis which found that there is nearly no difference between using an alphabetic passphrase vs using an alpha passphrase transformed into numbers in that way. So I'm happy about that, but its still hard to input letter-based passphrases. So my request is that in the mk4: A. please put a full alphanumeric keyboard on the coldcard. Its certainly big enough for one. Say with the size and layout of the Palm phone, like the Treo 750 series. Edit: I did some analysis and found out that a numberpad is actually pretty usable with passphrases. More details at the bottom. B. if that is, for some reason, out of the question, then please put letters on each button so you don't need to pull out an additional reference in order to input a word-based passphrase. Numeric-only passwords are either too short or not memorable. Typing words based passphrases on the coldcard is very unweildy. Please do something about this. Furthermore, the coldcard recommends that users write down their PIN. This is really bad advice. Please remove it. I wrote a whole rant about it here: https://www.reddit.com/coldcard/comments/emnjwx/coldcard_advises_users_to_write_down_your_pin/ . Losing your $100 cold card is not the end of the world. Getting a few bitcoin stolen from you because someone found your pin stored next to your coldcard would be FAR worse, and in a bitcoin future, just as likely as forgetting your pin, if not more likely. So: C. Remove the advice to write down your pin! Advise users instead to make a calendar event to recite their pin to themselves if they don't use it often enough to remember it. Its OK if the pin (and thus the coldcard) is lost - your funds can still be recovered with the seed. D. There should be a way to factory reset the coldcard. If the current secure chip doesn't support it, I'm sure there's one that does. If everything is cleared and reset correctly, this wouldn't add any additional security risk. E. The pin input is super confusing! Why does a 0 show up, and then half a second later the 0 is filled with a bunch of dots? What does that indicate? Please just have asterisks show up like every single other password input in the world. The pin 2525 should look like ****. The way you have it makes it very unintuitive to even know how many numbers it thinks you've typed so far. F. Speaking of the above. I found out through trial and error (lots of error) that I had misunderstood how many characters I had put in! Why? Because when I go to create my pin, there are two pages of instructions. I click enter to get passed page 1, then I click enter again to try to get passed page 2, but it only resets page 2. So I then press the first number of my pin, and it goes to the next page, where it then displays a 0, which I thought represented the number I had pressed. It would be EXTRA confusing if the number I had pressed was 0. But no, apparently that 0 is actually trying to represent an empty space! It certainly doesn't look like an empty space. Page 2 should not go to the input view when you press a number, instead it should only continue to the next view when you press enter - like page 1 did. G. The input is laggy. When I was looking through my seed words by holding down the arrow buttons, if I let go immediately after it shifted down one line, it would still shift down yet another line about 400 milliseconds after I had unpressed the button. What is up with that? H. And holding down the arrow keys repeats FAR too slowly. Its maddening watching only one line go up every 500 milliseconds. The lagging problem (G) needs to be solved first tho, because if it repeated faster, the lag would be much more noticeable. I. Ugh, why does it ask you if you want to add dice rolls into your seed AFTER it asks you to write the whole seed down? Come on, work with me here. I already wrote those down. If the user might do something that affects the seed, don't tell people to write it down yet. Put that option to "press 4 to add dice rolls into the mix" ABOVE the seed words. Also, why can't I find that text in the firmware code? Perhaps this has already been fixed/changed? J. I tried setting a nickname, and the input isn't great. I believe it started me with 'A' and I could go up and down in letters, suuuuuper slowly (as per complaint G). But then going to the next letter, it starts me in symbol mode, which means I have to press 1 every time I'm done with the last character. My request A would obviously readily solve this problem, and B would help a whole lot, but even without any physical interface improvements, this could be done a lot better. For starters, start the next letter in the same mode you were in previously. Resetting the mode every time you go to the next letter is bad UI. K. Where is there a public forum for discussing these kinds of issues? No one at Coinkite seems to pay attention to coldcard, and github issues are turned off for most of your repositories. Why are github issues turned off tho? Where am I supposed to report bugs? By email? How is anyone supposed to help track down bugs? That's part of the point of open source is that people can help you track stuff down and discuss improvements. Honestly, the UI on this needs lots of work. I expected better for a third generation device that cost me over $100. Maybe I'll send another annoying email when I use this thing more, but its late and I need to sleep. The OP originally contained this at the top, but I discovered that entering your usual passphrases with a number pad doesn't actually lose you much entropy at all.: I just bought the coldcard, and one thing I'm realizing is that the passphrase I want to use is going to be an enormously gigantic bitch to type into this numberpad. Any 3-4 words passphrase would take about 30 key presses. For example, lets take the passphrase "monkeyemusloth". To type that in with just numbers would be: 6666665533999336887777555666844. 31 key presses. That's super long, error prone, and what if you want to include numbers in your passphrase? You'd have to have an additional number keypress for every letter. "1monkey2emu3sloth" would be: 166666666655533399992333668883777775555666688444 Which is 48 keypresses! And given that these numbers don't have letters on them, you either have to be an expert at it or you have to pull out something else (like my phone's number pad, which is what I'm using now). You could simply type a single number that represents each letter. But this substantially lowers the entropy of your passphrase, meaning that in order to have a sufficiently lengthed passphrase, you need to use 5-6 words instead of 3-4 words.
Lastupdated2018-01-29 This post is a collaboration with the Bitcoin community to create a one-stop source for Lightning Network information. There are still questions in the FAQ that are unanswered, if you know the answer and can provide a source please do so!
Lightning Network White Paper - The protocol has changed since this original paper, but covers the mid-level mechanics of the Lightning Network with an emphasis on the smart contracts that make it trustless
If you can answer please PM me and include source if possible. Feel free to help keep these answers up to date and as brief but correct as possible
Is Lightning Bitcoin?
Yes. You pick a peer and after some setup, create a bitcoin transaction to fund the lightning channel; it’ll then take another transaction to close it and release your funds. You and your peer always hold a bitcoin transaction to get your funds whenever you want: just broadcast to the blockchain like normal. In other words, you and your peer create a shared account, and then use Lightning to securely negotiate who gets how much from that shared account, without waiting for the bitcoin blockchain.
Is the Lightning Network open source?
Yes, Lightning is open source. Anyone can review the code (in the same way as the bitcoin code)
Who owns and controls the Lightning Network?
Similar to the bitcoin network, no one will ever own or control the Lightning Network. The code is open source and free for anyone to download and review. Anyone can run a node and be part of the network.
I’ve heard that Lightning transactions are happening “off-chain”…Does that mean that my bitcoin will be removed from the blockchain?
No, your bitcoin will never leave the blockchain. Instead your bitcoin will be held in a multi-signature address as long as your channel stays open. When the channel is closed; the final transaction will be added to the blockchain. “Off-chain” is not a perfect term, but it is used due to the fact that the transfer of ownership is no longer reflected on the blockchain until the channel is closed.
Do I need a constant connection to run a lightning node?
Not necessarily, Example: A and B have a channel. 1 BTC each. A sends B 0.5 BTC. B sends back 0.25 BTC. Balance should be A = 0.75, B = 1.25. If A gets disconnected, B can publish the first Tx where the balance was A = 0.5 and B = 1.5. If the node B does in fact attempt to cheat by publishing an old state (such as the A=0.5 and B=1.5 state), this cheat can then be detected on-chain and used to steal the cheaters funds, i.e., A can see the closing transaction, notice it's an old one and grab all funds in the channel (A=2, B=0). The time that A has in order to react to the cheating counterparty is given by the CheckLockTimeVerify (CLTV) in the cheating transaction, which is adjustable. So if A foresees that it'll be able to check in about once every 24 hours it'll require that the CLTV is at least that large, if it's once a week then that's fine too. You definitely do not need to be online and watching the chain 24/7, just make sure to check in once in a while before the CLTV expires. Alternatively you can outsource the watch duties, in order to keep the CLTV timeouts low. This can be achieved both with trusted third parties or untrusted ones (watchtowers). In the case of a unilateral close, e.g., you just go offline and never come back, the other endpoint will have to wait for that timeout to expire to get its funds back. So peers might not accept channels with extremely high CLTV timeouts. -- Source
What Are Lightning’s Advantages?
Tiny payments are possible: since fees are proportional to the payment amount, you can pay a fraction of a cent; accounting is even done in thousandths of a satoshi. Payments are settled instantly: the money is sent in the time it takes to cross the network to your destination and back, typically a fraction of a second.
Does Lightning require Segregated Witness?
Yes, but not in theory. You could make a poorer lightning network without it, which has higher risks when establishing channels (you might have to wait a month if things go wrong!), has limited channel lifetime, longer minimum payment expiry times on each hop, is less efficient and has less robust outsourcing. The entire spec as written today assumes segregated witness, as it solves all these problems.
Can I Send Funds From Lightning to a Normal Bitcoin Address?
No, for now. For the first version of the protocol, if you wanted to send a normal bitcoin transaction using your channel, you have to close it, send the funds, then reopen the channel (3 transactions). In future versions, you and your peer would agree to spend out of your lightning channel funds just like a normal bitcoin payment, allowing you to use your lightning wallet like a normal bitcoin wallet.
Can I Make Money Running a Lightning Node?
Not really. Anyone can set up a node, and so it’s a race to the bottom on fees. In practice, we may see the network use a nominal fee and not change very much, which only provides an incremental incentive to route on a node you’re going to use yourself, and not enough to run one merely for fees. Having clients use criteria other than fees (e.g. randomness, diversity) in route selection will also help this.
What is the release date for Lightning on Mainnet?
Would there be any KYC/AML issues with certain nodes?
Nope, because there is no custody ever involved. It's just like forwarding packets. -- Source
What is the delay time for the recipient of a transaction receiving confirmation?
Furthermore, the Lightning Network scales not with the transaction throughput of the underlying blockchain, but with modern data processing and latency limits - payments can be made nearly as quickly as packets can be sent. -- Source
How does the lightning network prevent centralization?
How would the lightning network work between exchanges?
Each exchange will get to decide and need to implement the software into their system, but some ideas have been outlined here: Google Doc - Lightning Exchanges Note that by virtue of the usual benefits of cost-less, instantaneous transactions, lightning will make arbitrage between exchanges much more efficient and thus lead to consistent pricing across exchange that adopt it. -- Source
How do lightning nodes find other lightning nodes?
Does every user need to store the state of the complete Lightning Network?
According to Rusty's calculations we should be able to store 1 million nodes in about 100 MB, so that should work even for mobile phones. Beyond that we have some proposals ready to lighten the load on endpoints, but we'll cross that bridge when we get there. -- Source
Would I need to download the complete state every time I open the App and make a payment?
No you'd remember the information from the last time you started the app and only sync the differences. This is not yet implemented, but it shouldn't be too hard to get a preliminary protocol working if that turns out to be a problem. -- Source
What needs to happen for the Lightning Network to be deployed and what can I do as a user to help?
Lightning is based on participants in the network running lightning node software that enables them to interact with other nodes. This does not require being a full bitcoin node, but you will have to run "lnd", "eclair", or one of the other node softwares listed above. All lightning wallets have node software integrated into them, because that is necessary to create payment channels and conduct payments on the network, but you can also intentionally run lnd or similar for public benefit - e.g. you can hold open payment channels or channels with higher volume, than you need for your own transactions. You would be compensated in modest fees by those who transact across your node with multi-hop payments. -- Source
Is there anyway for someone who isn't a developer to meaningfully contribute?
Sure, you can help write up educational material. You can learn and read more about the tech at http://dev.lightning.community/resources. You can test the various desktop and mobile apps out there (Lightning Desktop, Zap, Eclair apps). -- Source
Do I need to be a miner to be a Lightning Network node?
Do I need to run a full Bitcoin node to run a lightning node?
lit doesn't depend on having your own full node -- it automatically connects to full nodes on the network. -- Source LND uses a light client mode, so it doesn't require a full node. The name of the light client it uses is called neutrino
How does the lightning network stop "Cheating" (Someone broadcasting an old transaction)?
Upon opening a channel, the two endpoints first agree on a reserve value, below which the channel balance may not drop. This is to make sure that both endpoints always have some skin in the game as rustyreddit puts it :-) For a cheat to become worth it, the opponent has to be absolutely sure that you cannot retaliate against him during the timeout. So he has to make sure you never ever get network connectivity during that time. Having someone else also watching for channel closures and notifying you, or releasing a canned retaliation, makes this even harder for the attacker. This is because if he misjudged you being truly offline you can retaliate by grabbing all of its funds. Spotty connections, DDoS, and similar will not provide the attacker the necessary guarantees to make cheating worthwhile. Any form of uncertainty about your online status acts as a deterrent to the other endpoint. -- Source
How many times would someone need to open and close their lightning channels?
You typically want to have more than one channel open at any given time for redundancy's sake. And we imagine open and close will probably be automated for the most part. In fact we already have a feature in LND called autopilot that can automatically open channels for a user. Frequency will depend whether the funds are needed on-chain or more useful on LN. -- Source
Will the lightning network reduce BTC Liquidity due to "locking-up" funds in channels?
When setting up a Lightning Network Node are fees set for the entire node, or each channel when opened?
You don't really set up a "node" in the sense that anyone with more than one channel can automatically be a node and route payments. Fees on LN can be set by the node, and can change dynamically on the network. -- Source
Can Lightning routing fees be changed dynamically, without closing channels?
Yes but it has to be implemented in the Lightning software being used. -- Source
How can you make sure that there will be routes with large enough balances to handle transactions?
You won't have to do anything. With autopilot enabled, it'll automatically open and close channels based on the availability of the network. -- Source
How does the Lightning Network stop flooding nodes (DDoS) with micro transactions? Is this even an issue?
How I learned to stop worrying and love bigger blocks
TL;DR: (1) The main driver of centralization isn't block size - it's other things such as electricity costs. One mid-size miner in Washington state has said: "Our facility spends about 80x as much on electricity as it does on internet connectivity". (2) The biggest centralization threat is actually the 3-to-7-transaction-per-second bottleneck - not a possible decrease in the number of full nodes due to bigger blocks. Tiny transaction throughput means hardly anyone can actually use Bitcoin - making it much more vulnerable to being attacked, sabotaged or shut down. (3) Big projects always involve trade-offs between multiple bottlenecks and threats, so we need to prioritize which problems we're going to handle and in which order - addressing the most serious and easiest-to-fix threats and bottlenecks first, while also trying to change the least amount of code. This is exactly what big blocks do: leave the code 99% unchanged, just increase the block size so that most people can still use the software using their existing hardware and infrastructure. More info here: https://www.reddit.com/bitcoinxt/comments/3k6i8c/bip_101_kiss_keep_it_simple_stupid/ I have been following the block size debate for the past few months, and for a long time I was undecided, because both sides made a lot of sense. If I understand correctly, the people favoring small blocks are saying that jurisdictional risk due to centralization, presumably due to larger bandwidth requirements due to larger blocks, is unacceptable. This does seem to be a very valid concern. My home internet is actually slow, and I want to have direct access to the block chain – not to do mining, but at least to be able to directly control my wallet and transact using it. So the people who favor small blocks do seem to have a point, and do sound genuinely concerned and worried. I know I certainly felt exactly this way about this issue. Eventually however I became more convinced by the arguments favoring bigger blocks, such as the following: (1) Centralization risk is probably due more to other factors such as electricity costs, heat dissipation requirements, and other mining economies of scale - not due to bandwidth requirements due to block size. This has been convincingly argued by Mike in his blog, as well as by a miner with a mid-size operation in Washington State. https://www.reddit.com/bitcoinxt/comments/3h6lk8/toomim_bros_supports_democracy_and_bitcoin_xt/ (2) The current bottleneck of 3-7 transactions per second worldwide itself represents a kind of centralization risk. Mike has argued very convincingly about this in his blog [I can’t find the link now – can anyone help?] saying that probably the biggest risk to Bitcoin right now is this bottleneck, because adoption by an insufficiently high number of users could mean that the powers-that-be, if they wanted to, could still try to strangle Bitcoin while it's still in its cradle - without enough of an outcry to really stop them, simply due to this arbitrarily (and dangerously low) 3-7-transactions-per-second bottleneck. (3) The only responsible approach, when dealing with so many trade-offs, is to always talk in terms of a comprehensive threat model, listing and prioritizing / ranking all (or most) of the recognized threats. An initial threat model has actually been proposed by Mike on the XT Google Group: https://groups.google.com/forum/#!searchin/bitcoin-xt/threat$20model/bitcoin-xt/zbPwfDf7UoQ/4uySXHVZCAAJ This is the kind of thing that successful managers do: list and prioritize the threats, and deal with the most important ones and the "lowest hanging fruit" first. On the other hand, a lot of the arguments I've seen against increasing the maximum block size seem to be made in isolation: bigger blocks means slower propagation / higher bandwidth requirements, centralization is already a risk we want to avoid, therefore no max block size increase. Also we can compare what Adam and Peter are doing: Adam is working on an ambitious new project, Lightning Network, which will add a vast amount of new code, will require a certain kind of centralization, and we don't even know if it will work yet. Meanwhile Peter seems to be focusing on more "exotic" threats (ie, less likely ones), and is also proposing more "exotic" solutions (eg, RBF / scorched earth). This is all interesting stuff - but we should bear in mind that it has nothing to do with our top current threat: congestion. I agree that bigger blocks probably do tend - to some degree - to reduce decentralization - but this is a multi-factorial situation we're dealing with here, and there is no sense in making an argument based on a single isolated factor. We have to weigh all the factors together, and focus on the most important ones, with a clear understanding of how to move from ideas to implementations to acceptance on the network. Right now, Gavin and Mike are the only two who seem to be doing this. So these are the considerations which, after many months of reading and worrying a lot, have "brought me around" from my initial fears: (1) Mining is already centralized and the main driver does not appear to actually be block size; (2) The 3-7 transaction-per-second bottleneck is probably the biggest centralization threat we need to address right now (since it forces us to have a tiny user base – vulnerable to being attacked); and (3) The simplest approach (to prevent the network from getting congested in the near future), based on the experience of projects and programmers who have a track record of success in the real world, is to go with guys like:
Mike, who is taking a mature, managerial, comprehensive, practical approach here:
-- attempting to alleviate the worst bottleneck, -- to address the most dangerous centralization risk, -- based on a comprehensive, prioritized threat model, and -- supported by an actual software release, -- consisting of a minimal modification to a single parameter (maximum block size), -- subject to a simple and carefully designed fork trigger (two weeks after over 750 of 1000 of previous blocks).
-- who seems to have a very clear notion of what "governance" (and "consensus") really mean in a this sort of situation, involving open-source p2p software running on a worldwide network involving financial incentives. In other words, I have listened to pretty much everything from various devs and other stakeholders over the past few months, and the stuff from Mike and Gavin wound up convincing me (even though that had both quite definitely initially been on my shit list: Mike due to the passport thing, and Gavin due to the CIA thing). Meanwhile, the other offerings seem to be worse:
BIP 100 (the voting thing from JGarzik) is not simple, and not predictable - so it could be inconvenient for managers, who like to do their capacity planning ahead of time.
LN from Adam Back is still vaporware, and LN itself will be highly centralized (if and when it comes into existence) - in fact the "jurisdictional centralization risk" of LN seems (to me) to be much worse than jurisdictional centralization risk due to bigger blocks.
Peter is excellent at coming up with hard-to-expect threat vectors and unusual game theory analysis, and I think he deserves our greatest respect for this, and he is obviously helping the network. Meanwhile, on the other hand, I think I can point to two examples of what one might call "over-analyzing" or "over-engineering" from Peter:, eg: his RBF / scorched earth thing, which seems like it can mess up zero-conf stuff while needlessly complicating the protocol; and his preference to implement DoS protection by deleting lower-fee transactions, rather than random transactions (the way Mike's 0.11B fix does)
I'm not saying that Peter's stuff is necessarily wrong - I just know that if I were a programmer proposing these solutions, and if I were working under a mature and experienced manager, then the manager would reject these solutions (and eventually I'd come around to accepting and understanding why). In other words, Peter tends to introduce a bit too much complexity to the overall system, merely to handle lower-priority edge cases - both in his analysis and in his solutions - and I think experience tends to show that the simpler and more generally applicable approaches tend to be more successful. So I'm a person who was initially wary of guys like Mike (because of proof-of-passport) and Gavin (because of the CIA meeting) - and I was way more into Adam (because he's a great cryptographer) and Peter (because he is able to think up all kinds of really hard-for-me-imagine threat vectors). Later I found out that Mike's proof-of-passport would have been some kind of anonymous zk-SNARK thing - so maybe it wasn't such a red flag after all. And if I were a recent college grad living in Amherst, involved with local town meetings and such (as Gavin is), working publicly under my own name on major open-source financial software projects, and I got an "invitation" to talk to the CIA - well, I probably wouldn't be too thrilled - but I'd probably end up going and trying to make the best of it. So Gavin's meeting with the CIA - troubling as it was to me at first - might very well not be a red flag at all either. So what I'm saying is - I no longer feel paranoid about Mike and Gavin. They just seem like not-quite-radical programmer dudes, who aren't living in Belize or in a squat in London - and I feel ok using their open-source software (which is all auditable anyways). Later, after reading Mike's posts on his blog, and after seeing that he actually released something workable - and after seeing Gavin's recent video on governance - and after seeing repeated occasions where Adam and Peter have tended to focus on more-complicated solutions for lower-priority risks (and meanwhile JGarzik proposed an overly-complicated and less-predictable scaling solution with BIP 100, and Greg Maxwell has tended to engage in unnecessary attacks), I just feel that the simplest and safest next step is BIP 101 as implemented and released in the form of Bitcoin XT. Elsewhere I have also stated why I think BIP 101 = "KISS" - Keep It Simple Stupid: https://www.reddit.com/bitcoinxt/comments/3k6i8c/bip_101_kiss_keep_it_simple_stupid/ By the way, if you are interested in forming an opinion about Gavin, I would highly recommend watching his recent YouTube video, where he gives a very decent explanation of his understanding of governance. https://www.youtube.com/watch?v=B8l11q9hsJM It's not the kind of thing that seems really possible to argue against really: he's basically saying that given an open-source p2p project, governance is pretty much various developers doing their best to release the best software, and then seeing what the network adopts. I would also recommend reading Mike’s posts on medium.com. They are well-thought-out and reflect the kind of maturity and experience you would expect from a guy who has successfully managed scaling and security issues for major software projects. https://medium.com/@octskyward/crash-landing-f5cc19908e32 https://medium.com/faith-and-future/why-is-bitcoin-forking-d647312d22c1 https://medium.com/@octskyward/on-consensus-and-forks-c6a050c792e7 Also Gavin has a very good post on his blog here: http://gavinandresen.ninja/time-to-roll-out-bigger-blocks I know we're not supposed to need to "trust" anyone in this situation, be it Adam or Peter or Mike or Gavin - but I do in some sense "trust" Gavin and Mike much more now than Adam and Peter. I don't think Adam and Peter want to harm Bitcoin - I think they really want to help, and have and will continue to do so. At any rate, the only thing we really need to trust is the code – and Mike’s pretty much the only guy who’s actually released code implementing BIP 101 – and it seems to be the most minimal change from the current code base, and it seems like it should run on most people’s infrastructure – so it seems like it would be the thing most people will adopt, as congestion starts to occur with the 1 MB limit. At this specific juncture - with the network starting to get congested in terms of transactions-per-second - some simple practical realistic solutions are needed, based on some simple practical realistic approaches to governance We're seeing that from Mike and Gavin more than from anyone else - which is why I feel fairly confident that the next steps for Bitcoin should and will be in the direction outlined by Mike and Gavin - again, not directly because Mike and Gavin are some how "more cool" or somehow “more trustworthy” - but simply because they recognize the natural direction a network like Bitcoin is going to tend to take anyways - optimizing the tradeoffs between the most significant threats and bottlenecks currently affecting it in the real world - and they've done the things which matter the most in this kind of situation: they've communicated clearly and convincingly about the major risks and tradeoffs involved and how we should prioritize them, as well as releasing actual working code which is minimally different from existing code and which seems like it should be able to run on most people's infrastructure, and outlining a realistic scenario for how this code could be adopted. Nobody else has even come close to this - no comprehensive communication prioritizing the various trade-offs and focusing on the most important ones requiring the least changes for the most payoff, no realistic understanding of how the development and upgrade and roll-out process for an open-source p2p financial network actually works in the real world, and no code released. The first time I actually breathed a sigh of relief in all these months of following the block size debate was when listening to Mike and Gavin's simple and realistic and pragmatic solutions. I'm also pretty sure that managers and investors who understand how major projects and markets actually work will also tend to gravitate towards Mike's and Gavin's solutions - since these kind of people also tend to favor things that are simple and realistic and pragmatic.
Weekly Update: Bitcoin Pizza with 2gether, aXpire in India, BOMB stickers, Opacity beta... – 17 May - 23 May'19
Hiya everyone! Here’s your week at Parachute (17 May – 23 May’19): This week’s Parena had a super long finale which saw FlareOfFlame beating Ketan 3:0 to take home the spoils from a 100k PAR pot. The Parachute Shop now has a twitter handle. Check it out now! Congratulations to fellow Parachuter Rene for becoming an admin at Wysker. The latest brainstorm session with Uptrennd revolved around how blockchains will affect our way of life in the near future. Well rounded discussion sesh with some pretty cool thoughts thrown in! We also got to see another gem from Gian’s collection of antiquities. Webster’s dictionaries from 1829 and 1851: These beauts cost 2 bucks each Bitcoin Pizza Day was this week. And 2gether had an amazing bounty for its community. Buy pizza with crypto using your 2gether card and share pics. Win 75 2GB in the process. Sweet! If you face trouble while using the app or the card or just have a question or a recommendation, this feature in the app allows to shake your phone and submit your doubt/suggestion. 2gether received the Finnovating FinTech Award for being the most innovative FinTech at Uconference Madrid 2019. Another feather in 2gether’s cap that is already teeming with feathers. Yum! Remember aXpire’s guerrilla marketing campaign at Consensus 2019 from last update? As promised, here’s some more pics from it. The team gave away some neat merch to attendees. CEO Gary’s article on how blockchain is impacting the Regulation Technology market was published on Datafloq. Rohit and I also wrote an article on crypto regulations in the EU which made it to Hackernoon. The weekly 10k AXPR burn can be tracked here. aXpire top management was in India this week. Here’s a few pics from their visit. Here’s looking at you aXpire crew: The front desk looks fresh The Horizon State community maintains an online repository of AMA reverts and FAQs. Click here to have a look. Q&A from May will be added soon. Horizon State was added to the Blockchain Impact Ledger which is a registry of blockchain projects that make positive social impact. The registry is maintained by Blockchain Trust Accelerator. WandX fans, lookout for the latest update which covers technical improvements (staking architecture, updated dex code) and upcoming milestones. 300 BOMB tokens were given out as part of the BOMB sticker contest. The winning entries came from JimPanze. BOMB was also listed on Coinmarketcap this week. Woot! JimPanze’s winning sticker set The Hydro team conducted an AMA with some of the team members answering Q’s on their way to the Malta Blockchain Summit. Biz Dev head Mark Anstead presented the project onstage at the event as part of the AI Startup Pitch. The team was also at the EthNewYork conference showcasing the Molecule platform. If you attended, hope you had a chance to say hi. Switch (ESH) was listed on a new exchange (Dobi) and they marked the occasion with an airdrop and trading competition. Switch’s feature docu on John McAfee will be releasing this August. The official trailer was released this week. Plus, a timely word of caution from the team that signing up for random exchanges is risky. A few decks from Mark’s pitch on HYDRO Opacity’s OPQ token was listed on Payfair. What’s OPQ’s utility you ask? This explainer video lays out the token’s use-case and benefits. Closed beta testing of the platform started this week. Sneak peak of the beta can be found in this article. Uptrennd founder Jeff was interviewed by Crypto-Current recently. Watch it here. Like Hydro, Birdchain was also in Malta for the blockchain summit. Click here and here to listen in to their CEO and Founder. WednesdayClub is already on imToken. With their latest submission, you will soon be able to see the full WED token profile on imToken as well. The weekly airdrop post, shares a few updates on the dApp. You can now post on WednesdayClub and share across other social media channels. Nice! As already mentioned in the last update, District0x’s Meme Factory went live. A flash sale for the dankest of memes was also conducted. Have a read of the introduction article to know what the Meme Factory is all about. Cryptoslate featured the platform in their news section. For more on District0x, check out the District Weekly. The most expensive memes in the Meme Factory marketplace right now Fantom announced a partnership with Fusion this week. As part of the agreement, Fantom will be using Fusion’s interoperability solution to enable cross chain accessibility for Fantom tech. In line with their interoperability push, Fantom also entered into a collaboration with Binance Chain. Ethos announced that its Bedrock platform (which provides enterprises easy access to blockchain) will be used by its partner Voyager to provide custody solutions in tandem with Ledger. Cointelegraph covered this news as well. As part of its ongoing community engagement, Ethos had an AMA in their Telegram channel and opened up a survey for feedback on upcoming product development. Hope you had a chance to take part. Cardrates’ interview of Bounty0x CEO Angelo came out recently. They discuss on a variety of topics including a details on how bounties work and future development. Tons of technical development have been happening on the platform. For example, faster automated tracking of tweet submissions, updated landing page, Bounty0x in Enjin dApp browser etc. Read more in their company update and micro update. And with that, we close for this week at Parachute + partners. See you again soon with another update. Ciao!
Updated: 11) $5m buyback 12) Release of yp part 3? 13) It is allegedly possible that ICX supply can be doubled in only 4 years thanks to a whopping 20% annual token inflation 14) One of the things that got me excited about crypto was that there was no inflation. I'm a bit disappointed in Icons approach here. 15) Where is the DEX? 16) How far are we from interoperability? Am I correct in saying that interoperability is years from completion? I'll be answering all questions to the best of my knowledge, this list will update regularly. 1) Clear description how icx will go up by benefiting from the line partnership. -> 2 or 3 practical examples. Don't forget Unchain is a joint venture, so Unchain is ICON's company as well, their success is directly beneficial to ICON. In a recent interview w Brad, Henry also shed some light regarding this JV and that it is way beyond a simple partnership agreement https://youtu.be/paFYyt1hVWc?t=155 2) Clear description how icx will go up by building private blockchains and connecting them. -> 2 or 3 practical examples. I answered this to someone on telegram a couple days ago. Here's my example,
"So I asked what's the use for icx with private chains. They have no reason to connect to the public chain and they have no reason to tokenzie their business."
The missing link is interoperability. The private chains need a way to communicate w each other, this is actually how the ICON project was conceived. ICONLOOP(loopchain then) offered blockchain solutions to enterprises and consortiums, but they had no way to interoperate So I think the argument originated from, if the design paradigm is emergent for private chains to go public, or interoperate through a public chain as a common block We've heard about those use cases and see actual implementations from U-coin vending machines to hospitals making insurance claims etc I agree in some cases it doesn't make sense for private chains to go public, if its designing a problem to solve, lets not do that but i'd say, a random guess, that 90%+ of the private chains have a reason to connect, much like intranet/internet Let me try another example, we've heard the hospital/insurance too many times Let's say there's a trade financing supply system of a large manufacturer w thousands of vendors before their enrollment, you'll probably need to do some identity and reputation check in the public chain (common services like ID validation should readily be available as a public service, like chainID) that will validate their legitimacy.. then next step is prolly for the vendors who need the trade financing where they need a more complex system like a stable coin to avoid volatility.. and move the money around instead of rebuilding a coin, they could adopt a coin system within the ICON network then what happens next.. i guess disputes w goods lost or quality problems.. again, vendors can call for a public arbitration system where there'll be a network of lawyers who specialize in cross-border disputes or arbiters to provide the service so we need a chain of services that can be called throughout the life cycle, interoperable between private and public chains there are plenty more use cases, but its not a hard choice to make, its definitely possible to have a common meeting point while maintaining sensitive information within their local blockchain In the example above, nothing is tokenized, their businesses are on the private blockchain without a native coin, but they use the common services from the public like stable coins or arbitration system 3) Monthly or quartal reports on partnerships, marketing, and the tech. You mean something like this? https://medium.com/helloiconworld/icon-3q-achievements-8c42ea798a0b 4) Opinion why korean people dont bring icx volume on korean exchanges. I don't think even president Moon has an answer to this :P But are people really this patriotic when it comes to money? Do Americans invest in American ICOs for being made in USA? I guess some will, but this is not (and shouldn't be) the main driving force of token demand. 5) Clarification what kind of understanding we should have about this 124 teampower - are they employees with 40 hours/week working contracts or just 2 hours, cooperations partners, freelancer, what ever. I paid a visit to the KR office a couple months back, it was like a giant coding factory running full steam. I can attest to this, they're full time employees working around the clock. 6) Roadmap - stop giving yourself room for delays and interpretations by not offering a roadmap. My suggestion on this one is to have a % completion roadmap with change logs. I think most people are more interested in progress, less deadlines. 7) Quarterly AMAs. Sounds good. 8) Why the hell are ICON members still advisors at Sentinel Protocol, a ICO that promoted itself using icon as blockchain and then moving to EOS. As far as I can tell, the two teams are still in good relationships. Timing was unfortunate, SP always had their first product (uppward) scheduled to launch shortly after their fundraising. Public presale also ended a lot faster than expected (scheduled to run for a week, ended in 3 minutes). During the period ICON was migrating to mainnet V3 and doing token swap. It made sense for them to deploy on a working platform, without compromising their schedule. Their team also said that they haven't ruled out the possibility to migrate back to ICON (although I think its less likely this day). 9) Spend some money on an english translation expert for you social media appearance. The translations (YouTube subtitles) were a bit sloppy I agree, understandable enough but they should definitely spend more time proof reading, professional presentation is a thing. 10) How much from the received ICO money/ether has been provided directly or indirectly to iconloop. The raised ETH from ICO are barely spent, you can check on etherscan from the contribution address. 11) $5m buyback From the key announcement by ICON foundation’s CFO Jay, the repurchase program is a pending legal matter, after consultation with law firms they’ll proceed with the buyback. https://youtu.be/keDitkWssv8?t=160 The team stated two main intentions for conducting this program,
Show the community the team’s long term commitment to the project even during times of uncertainty (bear market)
Revitalize the community and expand ICON ecosystem, with the buyback tokens (incentive programs probably).
Repurchases under the foundation’s program will be made in open market or privately negotiated transactions subject to market conditions, applicable legal requirements, and other relevant factors.
What this is saying is that, the buyback has no intention to create short term pumps, otherwise all purchases would’ve been made in the open market under a timed schedule. What this also implies is that, there won’t be a public wallet with an open schedule, to avoid legal obligations (insider trading) or unintended purposes (manipulation). So what is to be expected? Giving a deadline won't make sense because everything can be timed, so my take is that an announcement will be made after the repurchase has been completed. I don't think anyone can take advantage of this program but will still benefit directly with $5M worth of tokens off the market supply. 12) Release of yp part 3? This is expectedly a highly anticipated yellow paper, as it will likely outline all the details we need to know about staking. This YP however is not just a simple table with your annual returns, this is also technically far more complex than the previous two YPs. I provided a very simplified explanation for IISS in this thread: https://twitter.com/2infiniti/status/1020141186797846529 IISS is however a lot more complicated than this, it is a full AI based incentive scoring system to explore the optimal incentive scheme to vitalize the ecosystem. On top of incentives, it is also the base metrics for governance policies (voting). Incentives are designed with token economic studies, to reinforce target behavior, based on operant conditioning principles, eg. dormant accounts, distribution schemes based on activity levels, penalties for malicious nodes etc, and it is very difficult to get right. If you look into the WP, IISS further explored with things like mitigation of inequalities, weighted average and adjustment, efficiency of IISS, fairness of distribution, prevention of misusage and many other topics explored in depth. The point is, this YP is very complex, and personally I’d wish the team to take as much time as it needs to get it done right. IISS will ultimately decide the overall health of our ecosystem, its sustainability and well, our passive income. With that said, I am also with you that I’d love to see the details asap, as I have plans to build a tool similar to the Virtual Step Calculator where people can easily calculate their returns. From the announcement at least, it does look like the team is close to completion and labeled the release "soon", so let's just have a little patience and let them do all the necessary last checks. Also as a reality check, YPs are researches that need to be formalized, implemented and iterated enough times before an official release. So please don’t expect to start staking right away when YP pt3 sees the light. 13) It is allegedly possible that ICX supply can be doubled in only 4 years thanks to a whopping 20% annual token inflation Please go to this thread for my explanation: https://twitter.com/2infiniti/status/1060397068852748288 14) One of the things that got me excited about crypto was that there was no inflation. I'm a bit disappointed in Icons approach here. Most crypto token issuance models can be broken down into these 3 categories
Finite supply with a hardcap, tokens issued over time. Eg. Bitcoin, Litecoin
Fixed initial issuance, after that no more tokens will ever be created. Eg. Augur, Golem
Continuous issuance. Eg. Ethereum, ICON
All of the above models can work in their own ways, depending on the behavior its trying to incentivize. Sustainable crypto economies are backed by a recursive loop of value transfer that all participants are incentivized to participate in. The goal is to create an incentive loop that all parties act in their own self-interest, then creating greater value. Let’s take a look at bitcoin’s incentive loop, a simple model where mining is profitable, more miners create more security and security adds intrinsic value. Mine bitcoin -> market dynamics decide value -> incentive to mine -> security of network increases -> more incentive to mine ←| Augur’s case Trusted prediction platform -> more stakes in events -> more incentive for REP holders to verify truth -> more people verifying, more trusted ←| In ICON’s case, incentives are centered around i_score, which is a function of activities within the network. The incentive loop would look something like this I_score rewards and governance control (votes) -> more incentive to participate in activities and governance policies -> increased network security and activity ←| Similar incentive loop found in SCORE SCORE staking (virtual steps) -> increased activities -> sustainable SCOREs ←| Now for continuous issuance models, the goals are no different from other models. They want to issue tokens, just enough that it is optimal for maintaining security and encourage participations, creating a healthy incentive loop. But can’t these models infinitely issue to a point where my money is worth next to nothing? Yes, this is in theory possible. For Ethereum, with majority of network miners approving such change (say removing ice age), and a new Ethereum client to accommodate this change, resulting in an issuance similar to a 51% attack. Since issued ETH is also linked to the value of a single token, this will render ETH much less valuable. In practice, this is extremely unlikely to happen, as miners are financially discouraged by doing so, since they have much more to lose, just part of the game theory. ICON’s issuance is a system implementation which depends on activities happening in the network. There are also preventive measures such as issuance upper bound and representative mitigations. I explained issuance model in full in this thread: https://twitter.com/2infiniti/status/1060397068852748288 15) Where is the DEX? For this one hear the explanation directly from Min: https://youtu.be/tk2tZpnrI0o?t=1662 16) How far are we from interoperability? Am I correct in saying that interoperability is years from completion? Not entirely. Interoperability will likely take a few phases to roll out, what we should be anticipating for right now is BTP (Blockchain TransfeTransmission Protocol) specification. What is exactly is BTP? From the abstract level, BTP creates a mechanism by which two channels may pass messages to each other. BTP assumes that multiple channels (eg. private blockchains from ICONLOOP) running on the ICON network under their own state and logic, at the same time connecting to the base channel for consensus mechanism. This is the simplest form of interoperability. Down the road we should expect more and more advanced versions, handling threat models, connection lifecycles, asynchronous requests, and all sorts of optimization and so forth. This is enabling interoperability between blockchains one phase at a time, gradually reaching the end game of hyperconnecting the world. So how long is this going to take? I do not know. But the purpose of this reply is to explain that interoperability is not an on-off switch, but will likely take many phases to roll out.
Factorial Coin is a new system to manage your income and savings. In stead of using a system of centralised banks, it uses a decentralised system of connected computers (nodes) all around the world. This interlinked system (the FCC-core) is always synchronised, each protecting a copy of the complete ledger. The larger the FCC-core, the more protected your money is. Transactions stored in this ... You should separate the computation code from the input/output code. As you have written it, the factorial computation code will never be reusable in any other program. To be specific, you should define an unsigned long long factorial(int n) function. You have a formatting bug in the special case:!0 = 1 In fact, you should structure your code to avoid the need for special cases altogether ... The video with titled Triangular Arbitrage Bitcoin Bot in Python - Example Code - Ch . published by Blockchain Engineer with Channel ID UCVTnyT4fUxYkvawbggo8-AQ At 14 06 2018 - 04:13:38. Related Video(s) to Triangular Arbitrage Bitcoin Bot in Python - Example Code - Ch . Get code examples like For example i will input 3 and get the answer as -458131456 which seems really strange. Any help appreciated. Thanks . c# asp.net loops for-loop factorial. share follow edited May 16 '13 at 10:02. Alexxus. 696 1 1 gold badge 8 8 silver badges 23 23 bronze badges. asked May 16 '13 at 9:26. Anthony Johnson Anthony Johnson. 253 3 3 gold badges 4 4 silver badges 11 11 bronze badges. 8. You ...
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