Uphold – Safe, Instant & Cheap Bitcoin Cryptocurrency ...

UBDI Update 7/09

UBDI Update 7/09
Mobile App
  • Launched tribes for Investors, and Food Porn
  • Launched our first Tribe Competition for National Pet Photo Data where the member with the pet voted the cutest will win $100! The first day was so successful, our servers crashed! Take part in the first UBDI competition before it ends
  • Increased the size of photos in the feed, so your pets are always in the limelight
  • Created new charts for our investor group which will compare data from actual member crypto holdings with market expectations that can be filtered by data attributes.
  • Added new App Store screens to show our new style and path
  • Released our new App Demo video to preview the future of UBDI
  • Public traits are now live! Settings → Tribes Management to pick the traits you’d like to show off in each tribe, change the color of your avatar to make your avatar feel more unique, or leave a tribe all together

https://preview.redd.it/zs98clchrw951.jpg?width=1125&format=pjpg&auto=webp&s=6c0c2ba6162158db85f7352ec75ca44bbce4f920
  • Added UI to allow the posting of polls to different tribes from the homepage
  • Fixed trait counts to show accurate number of community members with the same traits
Studies/Ads
This week we ran a paid test ads for an affiliate products to test conversion rates of product placements
  • Launched Pet CBD product ad for $.50
  • Launched Lolli Ad (Bitcoin cash back extension) for $.30
  • Launched Pet Plates ad for $.70
  • Closed COVID studies parts 2 and 3 for Commonwealth
  • Still running COVID Financial Focus Group!
Known Bugs
  • Bug when selecting leave tribe which exits the user from all tribes
  • Minor image quality issues for image previews
  • Images from link previews are also not showing, making it difficult to see linked content
  • Some reported issues with payouts that we’re investigating and reconciling-- please shake app and talk to support or dm us if you think something is amiss
Community & Futurestate
  • Like our hats? Check out our new merch shop launching next week on the website!
  • Seed deck finalized and ready for pitches!
  • Released our new App Demo video to preview the future of UBDI
  • Uphold: Integration complete, expect it to go live before the next community update!
  • Notifications being implemented so you’ll get an alert when:
    • Your poll is approved
    • Someone comments on your poll
    • Someone comments on your comment
    • Your poll gets a certain number of votes (10, 50, etc)
    • There’s an earning opportunity (badge on tab)
  • Tribe entry/verification using data (You must have run at least 10 miles this month to join the runners group for example)
  • More sources coming soon for investors, financial data, and more!
  • Finalizing web-based datasource solution for desktop-required sources like Linkedin
  • Expect to see personalized insight stories before the next community update!
  • Look out for new tribes like our upcoming tribe for ABC’s “The Bachelor”
  • Beginning design and development of the UBDI web app, which will allow you to use UBDI from any device!
submitted by UBDI to UBDI [link] [comments]

Universal Protocol Token (UPT), native token of Universal Protocol Alliance formed by Bittrex, Brave, Uphold, Cred, BitGo and more

Hi all, I'm a long time reader, first time poster. Thought you guys maybe interested in learning about Universal Protocol Token (UPT).
Who's Universal Protocol Alliance? (quoted from their website)
We are an alliance of like-minded cryptocurrency companies and blockchain pioneers. Our mission is to bring 100 Million new users into cryptocurrency.
Our technology, the Universal Protocol Platform, is a transformational development for the entire blockchain industry, allowing new types of digital assets to be created and all cryptocurrencies to be convertible on a single network.
Brief Introduction
UPT is used to redeem digital assets locked in full reserve on the Universal Protocol, and conversion (wrapping) fees will be paid in UPT. Token holders also have governance right, discounted trading fees and interest rate for loans in the ecosystem. Utilities summarized in this pic.
UPUSD and UPEUR are already listed on Bittrex and Uphold, and UPBTC is available on Uphold. The reserve situation is fully transparent.
My analysis of UPT:
Pros
-Backed by prominent industry players
-A lot of similarities with Project Libra and BNB
-Universal Protocol Alliance bridge nicely between legacy system and crypto (e.g. optional key recovery, inheritability, custody service)
-Currently trading at 40% off from ICO price (US$0.01= 1 UPT)
-Hugely under the radar (not even on CMC)
Cons
-Low liquidity (at the moment)
-Low circulating supply (at the moment)
-Only 20% of the token were offered for Token sale and 40% allocated for public purchase
Website: https://universalprotocol.io/
Market: Bittrex, Bitcoin.com
submitted by Artemiscult to CryptoMoonShots [link] [comments]

The History, The Current State And The Future Of NavCoin

The History, The Current State And The Future Of NavCoin

This is it. If you're interested to see what NAV is all about, this is the ultimate guide for you. You will learn about the history of NavCoin and how it evolved. You will learn about the current state and features of NavCoin and you will learn about the exciting new features that are planned and coming up in the (near) future.
So buckle up, this is going to be a long ride!

Table Of Content


Introduction - What is NavCoin?


The History

Introduction
The following chapter will summarize and break down the history of NavCoin in a few sentences. NAV started a long time ago, went through rebrandings and changes of the core team before it became what it is today.

SummerCoin
NavCoin was initially first introduced under the name SummerCoin on April 23 in 2014. SummerCoin was a fork of the Bitcoin blockchain. It used to have a PoW/PoS hybrid algorithm with a block time of 45 seconds.

SummerCoinV2 /NavajoCoin
Soon after the initial launch of SummerCoin, the original developer left and SoopY (soopy452000 on bitcointalk) took over as the main developer and rebranded the project to SummerCoinV2 respectively NavajoCoin and introduced new features.
The name NavajoCoin was chosen in honor of the Navajo Code Talker. The unbreakable Navajo code was used to encrypt highly classified military information and commands and decrypt the same in WW II.
SoopY introduced a technology which allowed sending transactions anonymously and private. This technology was called "Navajo Anonymous Technology". SoopY also released a new wallet and set the Proof of Stake rewards at 10% for the first year, 5% for the second year and 2% for every year after.

NavCoin
On August 12, 2014, Craig (current lead core developer, pakage on bitcointalk) started to get involved with NAV by helping to set up a website [10].
It was officially announced that Craig joined the core team as a "Wallet & Web Developer" on November 06, 2014.
The last tokenswap and restart of the blockchain of NAV happened on May 12, 2016.
Soon later, SoopY stopped showing up and Craig stepped into the role of the lead core developer. Since then, Craig has assembled a strong team with which he built NavCoin into what it is today.
Currently, Craig and the NavCoin Core team is located in New Zealand and they are actively developing many ground-braking features which differentiate NAV from other cryptocurrencies. You will read more about that later in this article.

The Current State

Introduction
The year 2018 has been a thriving year for the NavCoin ecosystem. Despite the USD price of NAV not reflecting it, in 2018 the core team has developed a whole bunch of new features. Also the core content creators published the first official guidelines that function as an orientation guide for community content creators. This chapter will give you an overview of the current team, the features, the prior mentioned guidelines and the community of NavCoin.

Core Team [1]
Last year, the core team has grown alot. It contains of developers, content creators and interns. The core team are employees of Encrypt S, the New Zealand's leading blockchain R&D lab. Encrypt S is developing blockchain solutions since 2014 and values building open-source software highly.

Craig MacGregor - Chief Executive Officer
Craig is the CEO of Encrypt S and the founder of NavCoin. He is one of the world's most experienced blockchain developers. Craig founded NavCoin in 2014 and is developing software for it since then. He has assembled a strong team of like-minded people. Craig also speaks at seminars and conferenced. Some of the companies and conferences he did blockchain education sessions at are Oracle, Xero, Air New Zealand, Blok Tex and trademe. Together with the team, he is also doing a education series on YouTube where he explains upcoming features in-depth for the community.

Alex Vazquez - Chief Technical Officer
Alex is the CTO of Encrypt S and the most active contributor to the NavCoin core Github. He has incredible knowledge of blockchains and proposes and implements solutions for challenges and features. He supports community developers frequently and answers any questions of the community thoroughly. Like Craig, Alex is developing software for the NavCoin ecosystem for a very long time. Alex speaks at universities at times and educates students about the blockchain technology.

Paul Sanderson - Lead Software Engineer
Paul is the Lead Software Engineer at Encrypt S. He has a flair for technology. His technical and management skills are perfectly suited for consultancy and investment advising. He also frequently contributes to the NavCoin core source code.

Rowan Savage - Senior Software Engineer
Rowan is a full stack software engineer with more than a decade experience in developing complex front-end web applications. He joined Encrypt S in February 2018 and has since been involved in the Valence Plattform, the Kauri Wallet and NavCoin Core. You will read more about these feature/projects later.

Carter Xiao - Lead UX/UI Designer
Carter specializes in user-centric design and is also very talented with 3D animation, motion graphics and programming. One of NavCoins core principle is "Simplifying Crypto" and UX/UI is a very important part of that.

Matt Paul - Software Engineer
Like Rowan, Matt is a full stack Software Engineer. He joined the core team in Mai 2017 and has since worked on NavPay, NavPi, the Kauri Wallet and NavCoin Core. Kieren Hyland - Chief Strategy Officer Kieren is one of the employees that are working for Encrypt S for a very long time. He is the CSO and is a digital strategist and growth hacker with a passion for new technology and has a lot of experience in online marketing. Laura Harris - Creative Director Laura has a combination of commercial and creative flair. She manages the social media accounts for NavCoin and ensures, that NavCoins' message is always powerful, relevant and distinctive. John Darby - Content Creator John is an internationally awarded Technology and Financial sector marketing communications specialist. He is one of the Core Content Creators for NavCoin.

Features of NavCoin [2]
The following features are currently available and have been developed in the last months and years. It is sorted from newest to oldest.

Static Block Reward
The soft-fork for the enabling of static block rewards have been accepted and became active recently at 5th January 2019. This means, that the block reward was changed from a percentage based reward to a static reward. This will incentivize the stakers to have their node online 24/7 which increased the security of the network. It also aligns NavCoin with the PoSv3 specification. With this implementation, the yearly inflation will be 3.6% currently and will exponentionally decrease because of the static value of the rewards. Every staked block will now give the staker 2 NAV. Depending on how many people are staking, the yearly percentage varies. With the network weight currently being around 20'000'000 NAV, stakers earn around 10% rewards from staking 24/7.

Cold staking
To provide extra security to participants in the staking process in the NavCoin network, the core team decided to implement cold staking. This allows to store NAV offline and still be able to sign staking inputs. Looking forward, a possible integration into the Ledger Nano S would mean, that one can stake NAV securely from a offline hardware wallet. How cool is that?

OpenAlias
One of the core principle of NAV is to simplify cryptocurrencies. Many non-technical people are deterred from the long, cryptic addresses used in wallets. When sending funds, you have to make sure that every single letter and digit is correct which is nerve-wracking for the average person. NavCoin has implemented OpenAlias, which allows to transform the wallet address into a email-like form. Everyone can register a name like "[[email protected]](mailto:[email protected])". Funds can then be sent to this name, which makes sending crypto much easier and less error-prone.

Community Fund
This is the one big feature I was most excited about. NavCoin core has implemented the first fully decentralized community fund. Acceptance of proposals and release of funds is all approved by the decentralized network. No central authority has access to the fund. The community fund enables everyone to propose their ideas to the NavCoin community and to get paid to implement these ideas. Everyone can propose whatever they like (of course there is a higher rate of success if the proposal contributes to the NavCoin ecosystem ;-)). In fact, this article was sponsored by the NAV-Community by voting "yes" for my proposal. The fund works like this:
For a fee of 50 NAV, everyone can create and present his idea/proposal to the entire NavCoin network. The fee is here to help prevent spam attacks. Proposals can literally be anything - be it development, marketing or anything else you can some up with.
After creating the proposal, everyone contributing to the NavCoin network can then decide if they like the proposal of not. They vote with "Yes" or "No" for the acceptance of the proposal. Voting happens via staking. Every transaction that gets validated by you gives you one vote. This means that the more NAV you are staking, the higher your voting weight is.
The proposal stays in the state "Pending" until it is accepted or rejected. To be accepted, a proposal has to have a participation of at least 50% of all staked blocks and at least 75% of these votes have to be "Yes"-votes. Like-wise to be rejected a proposal need 50% participation of the network and 75% of these votes have to be "No"-votes. Additionally, if a proposal didn't pass after 6 voting cycles (about 6 weeks) it is also rejected.
After a proposal has been accepted, the creator of the proposal can start his work. When the work is finished, or at in the proposal defined checkpoints, the proposal creator can create a payment request for the full or part of the requested funds.
The NavCoin network can then again decide, if the work is what the creator promised to do and vote for the funds or reject the payment request because it was not what he promised. This mechanism ensures, that the funds are only release if the creator of the proposal did what he promised. The NavCoin network decides everything, there is no central authority which makes the community fund 100% decentralized.
The community fund is quite new but there have already been some proposals that were accepted like paying for the development & hosting of NAV block explorer, the creation and distribution of NAV car stickers to the community for free (or paid by the community fund), the funding of interns for NavCoin Core, translation of the website into other languages and YouTube videos. What ideas could you come up with? By the way: this article was also sponsored by the community fund :-)

Proof of Stake
Like said before, NavCoin uses the Proof of Stake algorithm to create and validate blocks. Participants of the NavCoin network can earn rewards by putting their coins to stake and thus validating blocks and securing the network. The reward used to be 4% fixed but recently changed with the implementation of PoSv3. Currently, rewards for stakers that are staking 24/7 is about 10% but it is dependent on how many people are staking. If more nodes come online, this reward will go down. If 90% of all NAVs would be at stake, stakers would still earn 4%.

Tutorials And Guidelines [3]
The NavCoin Core team pushes the community to contribute to the NavCoin ecosystem constantly. They emphasize that NavCoin is an open source project and everyone can contribute. The team tries to make it as easy as possible for the average person to contribute and thus created different tutorials and guidelines.

Tutorials To Contribute To The Website
The whole website is open source. Everyone can contribute to the website. The team created different guides for people to follow [4].

The NavCoin Developer Manifesto
The content creator core team has build a developer manifesto. It defines the values that should be uphold like for example that they will always operate in the best interest of the network. If defines the principles, purposes, scope of involvement and operational requirements [5].

The NavCoin Content Creation Manifesto
Similar to the developer manifesto, there is also a content creation manifesto. Again it defines the principles for creating content, the purpose, the scope of involvement and the operational requirements [6].

NavCoin Brand Guidelines
In addition to the content creation manifesto, there is also a brand guideline booklet. This should help content creators to create images, videos, articles etc. in the same style as the core team. It defines the NAV brand. The brand guidelines contain definitions, the language to use (words to use, words not to use), the tone of voice, what the community aspires to be and what we discourage to be. It also contains the logo pack which can be used in graphics etc. It describes correct logo spacing, logo placement, the colors of NAV and different web assets. It gives tips about gradients and overlays, the typefaces (with a font pack) and many more. Check it out yourself [7].

NavCoin Educational Series
The core team has decided to actively involve the community in the creation of new features. For this reason and to allow users to ask questions, they created the NavCoin Educational Series. The core team schedules an online live meetup which can be joined by everyone. On YouTube they do live-streams and explain upcoming features. Examples of these series are explanations for cold staking, static rewards (PoSv3) and the community fund. The community can ask questions live and the core team will answer them immediately.

Community
During the last year there have been an influx of software developers from the community starting to create features for NAV.

navexplorer.com
An examples is navexplorer.com which is programmed by community developer prodpeak and is a block explorer for NavCoin. Additionally, it functions as a interface to see what is going on in the community fund. It shows pending proposals and payment requests.

NEXT Wallet
The NEXT Wallet is an alternative wallet for NAV and other cryptocurrencies. It has a beautiful user interface and is additionally the easiest interface to interact with the community fund (create proposals, create payment requests and vote for proposals and payment requests). It is programmed by community developer sakdeniz who put hundreds of hours into it during last year.

There were also some marketing activities starting to emerge with the release of the community fund. Some of these were for example free stickers for everyone in the NAV community to stick to their car / shop / window etc. or YouTube videos of CryptoCandor and Cryptomoonie that explained the details of NAV. I am sure, that with the 500'000 NAV available in the community fund per year there will be an influx of gread ideas - development as well as marketing activities - that will be funded.

The Future

Introduction
These features are planned for the future. Many of the following features are part of the 2019 roadmap. Some will not be described in great detail because not much is known about them yet. I've still listed them as they are part of what is yet to come.

Features
Rimu - Improved Privacy Solution
NavCoin used to be a optional privacy coin. That means, that you could choose to send a transaction in private. NavCoin was criticized for the way it handles private payments because it relied on a few servers which didn't make it that decentralized. The technology was called "NavTech" and was a secondary blockchain that obscured the transaction and the amount that was sent. NavCoin Core is currently developing a new improved privacy solution that will make the private payment system completely trustless and districuted and runs at a protocol level. Alex of the NavCoin Core team has published a paper that describes this new privacy solution. It's called Zero Confidential Transactions and can be found here: https://www.researchgate.net/publication/330366788_ZeroCT_Improving_Zerocoin_with_Confidential_Transactions_and_more. What I want to highlight is the collaboration between Alex as the proposer of the solution and the Veil team, a Bitcoin Core developer and Moneros main cryptographer as reviewers. When the best work together, it will be interesting to see what the outcome is!

Valence Plattform [8]
Valence is an applied Blockchain platform that can help businesses realise the tangible benefits of blockchain. You can think of Valence as a platform with which you can build Anonymous Distributed Applications (aDapps) with. But Valence is a different kind of platform that enables developers to create new types of blockchain applications. The problem with current (turing complete) dApp platforms are their complexity and rigid nature. Security holes in smart contracts and scaling issues happen frequently [9].
Valence provides transitional pathways that let businesses migrate only part of their activities to the blockchain without having to restructure their entire business model [9].
Valence will provide a spectrum of blockchain application solutions which sit along the decentralized spectrum, offering businesses simple ways to dip their toes into the blockchain at minimal risk or complexity [9].
Thanks to the proof of stake nature of the Valence blockchain, more of a node's resources can be used for processing and routing application data which makes the platform faster and scalable.
Valence aims to make building blockchain applications as accessible to the general public as WordPress or Squarespace has made building websites.
The developers NavCoin and Valence aim to make Valence extremely easy to work with:
A Valence application could be an open source mobile or web application that submits unencrypted or encrypted data directly to the blockchain. The only configuration necessary for the app developer would be setting up the data structure. Once they've done that they can start writing to the blockchain immediately.
The Valence blockchain interface is language agnostic, meaning developers are free to build applications in whichever language they're familiar with, which greatly reduces the barrier to entry.
As the platform progresses, Valence will introduce more and more smart contract templates in collaboration with the development community. These will be like plugins that users can simply select and configure for their application, without having to reinvent the wheel and risk contract errors or spend countless hours of research to program them.

NavShopper
The following information is taken from the latest weekly news: NavShopper is a new project which will allow people to spend NavCoin on a growing list of retailers and service providers. NavShopper sits between traditional retailers accepting fiat and NavCoin users and purchases products on behalf of the user by managing the crypt-fiat conversion, payment and shipping. This project will unlock many more ways for people to spend NAV on existing websites/marketplaces without requiring each site to individually accept cryptocurrencies. Some of the prototypes we are working on include crediting your Uber account, buying products on Amazon and donating to charities.

Kauri Wallet
The Kauri Wallet aims to be an open-source, multi-currency wallet which functions as a foundation for other features.

Kauri Enhanced
Enhancements to the Kauri Wallet will allow multiple accounts, pin numbers, recurring payments and more.

Kauri DAEx
The Kauri DAEx is a Decentralised Atomic Exchange that utilises the features of the Kauri Wallet and enables users to create safe peer to peer atomic exchanges for any currency supported by the Kauri Wallet. NavDelta NavDelta will be a payment gateway that allows users to spend NAV at any business which accepts currencies supported by the Kauri Wallet. NavMorph NavMorph is a fusion of Rimu and Kauri DAEx and will allow to privately send every cryptocurrency supported by the Kauri Wallet.

Outro

If you have made it this far: Congratulations! You have learned about how NAV evolved, what its current state is and what the future will bring. To sum all up: NavCoin has made incredible progress during last year and released many long awaited features despite the bear market. Many more exciting features are yet to come and it's going to be very interesting to see where we will stand on this day next year.

Giveaway

Unfortunately, the giveaway was not possible in the cryptocurrency-subreddit because of their rules, so I'm doing it here :-) As a surprise, in the next 2 hours I am going to send some NAV to everyone who wants to try out the awesome features and NavPay you read about above.
To get your NAVs, all you have to do is the following:
If you liked the experience, I'd be happy to hear back from you :)

References

[1] https://encrypt-s.com/company/
[2] https://navcoin.org/en/roadmap/
[3] https://navhub.org/get-involved/
[4] https://navhub.org/how-to-guide/
[5] https://navhub.org/assets/NavCoinDeveloperManifesto.pdf
[6] https://navhub.org/assets/NavCoinContentManifesto.pdf
[7] https://navhub.org/assets/NavCoinBrandGuidelines.pdf
[8] https://valenceplatform.org/
[9] https://valenceplatform.org/learn/business-on-the-blockchain-made-easy/
[10] https://bitcointalk.org/index.php?topic=679791.msg8320228#msg8320228
submitted by crypto_sIF to NavCoin [link] [comments]

The History, The Current State And The Future Of NavCoin

The History, The Current State And The Future Of NavCoin

This is it. If you're interested to see what NAV is all about, this is the ultimate guide for you. You will learn about the history of NavCoin and how it evolved. You will learn about the current state and features of NavCoin and you will learn about the exciting new features that are planned and coming up in the (near) future.
So buckle up, this is going to be a long ride!

Table Of Content


Introduction - What is NavCoin?


The History

Introduction
The following chapter will summarize and break down the history of NavCoin in a few sentences. NAV started a long time ago, went through rebrandings and changes of the core team before it became what it is today.

SummerCoin
NavCoin was initially first introduced under the name SummerCoin on April 23 in 2014. SummerCoin was a fork of the Bitcoin blockchain. It used to have a PoW/PoS hybrid algorithm with a block time of 45 seconds.

SummerCoinV2 /NavajoCoin
Soon after the initial launch of SummerCoin, the original developer left and SoopY (soopy452000 on bitcointalk) took over as the main developer and rebranded the project to SummerCoinV2 respectively NavajoCoin and introduced new features.
The name NavajoCoin was chosen in honor of the Navajo Code Talker. The unbreakable Navajo code was used to encrypt highly classified military information and commands and decrypt the same in WW II.
SoopY introduced a technology which allowed sending transactions anonymously and private. This technology was called "Navajo Anonymous Technology". SoopY also released a new wallet and set the Proof of Stake rewards at 10% for the first year, 5% for the second year and 2% for every year after.

NavCoin
On August 12, 2014, Craig (current lead core developer, pakage on bitcointalk) started to get involved with NAV by helping to set up a website [10].
It was officially announced that Craig joined the core team as a "Wallet & Web Developer" on November 06, 2014.
The last tokenswap and restart of the blockchain of NAV happened on May 12, 2016.
Soon later, SoopY stopped showing up and Craig stepped into the role of the lead core developer. Since then, Craig has assembled a strong team with which he built NavCoin into what it is today.
Currently, Craig and the NavCoin Core team is located in New Zealand and they are actively developing many ground-braking features which differentiate NAV from other cryptocurrencies. You will read more about that later in this article.

The Current State

Introduction
The year 2018 has been a thriving year for the NavCoin ecosystem. Despite the USD price of NAV not reflecting it, in 2018 the core team has developed a whole bunch of new features. Also the core content creators published the first official guidelines that function as an orientation guide for community content creators. This chapter will give you an overview of the current team, the features, the prior mentioned guidelines and the community of NavCoin.

Core Team [1]
Last year, the core team has grown alot. It contains of developers, content creators and interns. The core team are employees of Encrypt S, the New Zealand's leading blockchain R&D lab. Encrypt S is developing blockchain solutions since 2014 and values building open-source software highly.

Craig MacGregor - Chief Executive Officer
Craig is the CEO of Encrypt S and the founder of NavCoin. He is one of the world's most experienced blockchain developers. Craig founded NavCoin in 2014 and is developing software for it since then. He has assembled a strong team of like-minded people. Craig also speaks at seminars and conferenced. Some of the companies and conferences he did blockchain education sessions at are Oracle, Xero, Air New Zealand, Blok Tex and trademe. Together with the team, he is also doing a education series on YouTube where he explains upcoming features in-depth for the community.

Alex Vazquez - Chief Technical Officer
Alex is the CTO of Encrypt S and the most active contributor to the NavCoin core Github. He has incredible knowledge of blockchains and proposes and implements solutions for challenges and features. He supports community developers frequently and answers any questions of the community thoroughly. Like Craig, Alex is developing software for the NavCoin ecosystem for a very long time. Alex speaks at universities at times and educates students about the blockchain technology.

Paul Sanderson - Lead Software Engineer
Paul is the Lead Software Engineer at Encrypt S. He has a flair for technology. His technical and management skills are perfectly suited for consultancy and investment advising. He also frequently contributes to the NavCoin core source code.

Rowan Savage - Senior Software Engineer
Rowan is a full stack software engineer with more than a decade experience in developing complex front-end web applications. He joined Encrypt S in February 2018 and has since been involved in the Valence Plattform, the Kauri Wallet and NavCoin Core. You will read more about these feature/projects later.

Carter Xiao - Lead UX/UI Designer
Carter specializes in user-centric design and is also very talented with 3D animation, motion graphics and programming. One of NavCoins core principle is "Simplifying Crypto" and UX/UI is a very important part of that.

Matt Paul - Software Engineer
Like Rowan, Matt is a full stack Software Engineer. He joined the core team in Mai 2017 and has since worked on NavPay, NavPi, the Kauri Wallet and NavCoin Core. Kieren Hyland - Chief Strategy Officer Kieren is one of the employees that are working for Encrypt S for a very long time. He is the CSO and is a digital strategist and growth hacker with a passion for new technology and has a lot of experience in online marketing. Laura Harris - Creative Director Laura has a combination of commercial and creative flair. She manages the social media accounts for NavCoin and ensures, that NavCoins' message is always powerful, relevant and distinctive. John Darby - Content Creator John is an internationally awarded Technology and Financial sector marketing communications specialist. He is one of the Core Content Creators for NavCoin.

Features of NavCoin [2]
The following features are currently available and have been developed in the last months and years. It is sorted from newest to oldest.

Static Block Reward
The soft-fork for the enabling of static block rewards have been accepted and became active recently at 5th January 2019. This means, that the block reward was changed from a percentage based reward to a static reward. This will incentivize the stakers to have their node online 24/7 which increased the security of the network. It also aligns NavCoin with the PoSv3 specification. With this implementation, the yearly inflation will be 3.6% currently and will exponentionally decrease because of the static value of the rewards. Every staked block will now give the staker 2 NAV. Depending on how many people are staking, the yearly percentage varies. With the network weight currently being around 20'000'000 NAV, stakers earn around 10% rewards from staking 24/7.

Cold staking
To provide extra security to participants in the staking process in the NavCoin network, the core team decided to implement cold staking. This allows to store NAV offline and still be able to sign staking inputs. Looking forward, a possible integration into the Ledger Nano S would mean, that one can stake NAV securely from a offline hardware wallet. How cool is that?

OpenAlias
One of the core principle of NAV is to simplify cryptocurrencies. Many non-technical people are deterred from the long, cryptic addresses used in wallets. When sending funds, you have to make sure that every single letter and digit is correct which is nerve-wracking for the average person. NavCoin has implemented OpenAlias, which allows to transform the wallet address into a email-like form. Everyone can register a name like "[[email protected]](mailto:[email protected])". Funds can then be sent to this name, which makes sending crypto much easier and less error-prone.

Community Fund
This is the one big feature I was most excited about. NavCoin core has implemented the first fully decentralized community fund. Acceptance of proposals and release of funds is all approved by the decentralized network. No central authority has access to the fund. The community fund enables everyone to propose their ideas to the NavCoin community and to get paid to implement these ideas. Everyone can propose whatever they like (of course there is a higher rate of success if the proposal contributes to the NavCoin ecosystem ;-)). In fact, this article was sponsored by the NAV-Community by voting "yes" for my proposal. The fund works like this:
For a fee of 50 NAV, everyone can create and present his idea/proposal to the entire NavCoin network. The fee is here to help prevent spam attacks. Proposals can literally be anything - be it development, marketing or anything else you can some up with.
After creating the proposal, everyone contributing to the NavCoin network can then decide if they like the proposal of not. They vote with "Yes" or "No" for the acceptance of the proposal. Voting happens via staking. Every transaction that gets validated by you gives you one vote. This means that the more NAV you are staking, the higher your voting weight is.
The proposal stays in the state "Pending" until it is accepted or rejected. To be accepted, a proposal has to have a participation of at least 50% of all staked blocks and at least 75% of these votes have to be "Yes"-votes. Like-wise to be rejected a proposal need 50% participation of the network and 75% of these votes have to be "No"-votes. Additionally, if a proposal didn't pass after 6 voting cycles (about 6 weeks) it is also rejected.
After a proposal has been accepted, the creator of the proposal can start his work. When the work is finished, or at in the proposal defined checkpoints, the proposal creator can create a payment request for the full or part of the requested funds.
The NavCoin network can then again decide, if the work is what the creator promised to do and vote for the funds or reject the payment request because it was not what he promised. This mechanism ensures, that the funds are only release if the creator of the proposal did what he promised. The NavCoin network decides everything, there is no central authority which makes the community fund 100% decentralized.
The community fund is quite new but there have already been some proposals that were accepted like paying for the development & hosting of NAV block explorer, the creation and distribution of NAV car stickers to the community for free (or paid by the community fund), the funding of interns for NavCoin Core, translation of the website into other languages and YouTube videos. What ideas could you come up with? By the way: this article was also sponsored by the community fund :-)

Proof of Stake
Like said before, NavCoin uses the Proof of Stake algorithm to create and validate blocks. Participants of the NavCoin network can earn rewards by putting their coins to stake and thus validating blocks and securing the network. The reward used to be 4% fixed but recently changed with the implementation of PoSv3. Currently, rewards for stakers that are staking 24/7 is about 10% but it is dependent on how many people are staking. If more nodes come online, this reward will go down. If 90% of all NAVs would be at stake, stakers would still earn 4%.

Tutorials And Guidelines [3]
The NavCoin Core team pushes the community to contribute to the NavCoin ecosystem constantly. They emphasize that NavCoin is an open source project and everyone can contribute. The team tries to make it as easy as possible for the average person to contribute and thus created different tutorials and guidelines.

Tutorials To Contribute To The Website
The whole website is open source. Everyone can contribute to the website. The team created different guides for people to follow [4].

The NavCoin Developer Manifesto
The content creator core team has build a developer manifesto. It defines the values that should be uphold like for example that they will always operate in the best interest of the network. If defines the principles, purposes, scope of involvement and operational requirements [5].

The NavCoin Content Creation Manifesto
Similar to the developer manifesto, there is also a content creation manifesto. Again it defines the principles for creating content, the purpose, the scope of involvement and the operational requirements [6].

NavCoin Brand Guidelines
In addition to the content creation manifesto, there is also a brand guideline booklet. This should help content creators to create images, videos, articles etc. in the same style as the core team. It defines the NAV brand. The brand guidelines contain definitions, the language to use (words to use, words not to use), the tone of voice, what the community aspires to be and what we discourage to be. It also contains the logo pack which can be used in graphics etc. It describes correct logo spacing, logo placement, the colors of NAV and different web assets. It gives tips about gradients and overlays, the typefaces (with a font pack) and many more. Check it out yourself [7].

NavCoin Educational Series
The core team has decided to actively involve the community in the creation of new features. For this reason and to allow users to ask questions, they created the NavCoin Educational Series. The core team schedules an online live meetup which can be joined by everyone. On YouTube they do live-streams and explain upcoming features. Examples of these series are explanations for cold staking, static rewards (PoSv3) and the community fund. The community can ask questions live and the core team will answer them immediately.

Community
During the last year there have been an influx of software developers from the community starting to create features for NAV.

navexplorer.com
An examples is navexplorer.com which is programmed by community developer prodpeak and is a block explorer for NavCoin. Additionally, it functions as a interface to see what is going on in the community fund. It shows pending proposals and payment requests.

NEXT Wallet
The NEXT Wallet is an alternative wallet for NAV and other cryptocurrencies. It has a beautiful user interface and is additionally the easiest interface to interact with the community fund (create proposals, create payment requests and vote for proposals and payment requests). It is programmed by community developer sakdeniz who put hundreds of hours into it during last year.

There were also some marketing activities starting to emerge with the release of the community fund. Some of these were for example free stickers for everyone in the NAV community to stick to their car / shop / window etc. or YouTube videos of CryptoCandor and Cryptomoonie that explained the details of NAV. I am sure, that with the 500'000 NAV available in the community fund per year there will be an influx of gread ideas - development as well as marketing activities - that will be funded.

The Future

Introduction
These features are planned for the future. Many of the following features are part of the 2019 roadmap. Some will not be described in great detail because not much is known about them yet. I've still listed them as they are part of what is yet to come.

Features
Rimu - Improved Privacy Solution
NavCoin used to be a optional privacy coin. That means, that you could choose to send a transaction in private. NavCoin was criticized for the way it handles private payments because it relied on a few servers which didn't make it that decentralized. The technology was called "NavTech" and was a secondary blockchain that obscured the transaction and the amount that was sent. NavCoin Core is currently developing a new improved privacy solution that will make the private payment system completely trustless and districuted and runs at a protocol level. Alex of the NavCoin Core team has published a paper that describes this new privacy solution. It's called Zero Confidential Transactions and can be found here: https://www.researchgate.net/publication/330366788_ZeroCT_Improving_Zerocoin_with_Confidential_Transactions_and_more. What I want to highlight is the collaboration between Alex as the proposer of the solution and the Veil team, a Bitcoin Core developer and Moneros main cryptographer as reviewers. When the best work together, it will be interesting to see what the outcome is!

Valence Plattform [8]
Valence is an applied Blockchain platform that can help businesses realise the tangible benefits of blockchain. You can think of Valence as a platform with which you can build Anonymous Distributed Applications (aDapps) with. But Valence is a different kind of platform that enables developers to create new types of blockchain applications. The problem with current (turing complete) dApp platforms are their complexity and rigid nature. Security holes in smart contracts and scaling issues happen frequently [9].
Valence provides transitional pathways that let businesses migrate only part of their activities to the blockchain without having to restructure their entire business model [9].
Valence will provide a spectrum of blockchain application solutions which sit along the decentralized spectrum, offering businesses simple ways to dip their toes into the blockchain at minimal risk or complexity [9].
Thanks to the proof of stake nature of the Valence blockchain, more of a node's resources can be used for processing and routing application data which makes the platform faster and scalable.
Valence aims to make building blockchain applications as accessible to the general public as WordPress or Squarespace has made building websites.
The developers NavCoin and Valence aim to make Valence extremely easy to work with:
A Valence application could be an open source mobile or web application that submits unencrypted or encrypted data directly to the blockchain. The only configuration necessary for the app developer would be setting up the data structure. Once they've done that they can start writing to the blockchain immediately.
The Valence blockchain interface is language agnostic, meaning developers are free to build applications in whichever language they're familiar with, which greatly reduces the barrier to entry.
As the platform progresses, Valence will introduce more and more smart contract templates in collaboration with the development community. These will be like plugins that users can simply select and configure for their application, without having to reinvent the wheel and risk contract errors or spend countless hours of research to program them.

NavShopper
The following information is taken from the latest weekly news: NavShopper is a new project which will allow people to spend NavCoin on a growing list of retailers and service providers. NavShopper sits between traditional retailers accepting fiat and NavCoin users and purchases products on behalf of the user by managing the crypt-fiat conversion, payment and shipping. This project will unlock many more ways for people to spend NAV on existing websites/marketplaces without requiring each site to individually accept cryptocurrencies. Some of the prototypes we are working on include crediting your Uber account, buying products on Amazon and donating to charities.

Kauri Wallet
The Kauri Wallet aims to be an open-source, multi-currency wallet which functions as a foundation for other features.

Kauri Enhanced
Enhancements to the Kauri Wallet will allow multiple accounts, pin numbers, recurring payments and more.

Kauri DAEx
The Kauri DAEx is a Decentralised Atomic Exchange that utilises the features of the Kauri Wallet and enables users to create safe peer to peer atomic exchanges for any currency supported by the Kauri Wallet. NavDelta NavDelta will be a payment gateway that allows users to spend NAV at any business which accepts currencies supported by the Kauri Wallet. NavMorph NavMorph is a fusion of Rimu and Kauri DAEx and will allow to privately send every cryptocurrency supported by the Kauri Wallet.

Outro

If you have made it this far: Congratulations! You have learned about how NAV evolved, what its current state is and what the future will bring. To sum all up: NavCoin has made incredible progress during last year and released many long awaited features despite the bear market. Many more exciting features are yet to come and it's going to be very interesting to see where we will stand on this day next year.

Giveaway

Unfortunately, the giveaway was not possible in the cryptocurrency-subreddit because of their rules, so I'm doing it here :-) As a surprise, in the next few hours I am going to send some NAV to everyone who wants to try out the awesome features you have read about above.
To get your NAVs, all you have to do is the following:
If you liked the experience, I'd be happy to hear back from you :)

References

[1] https://encrypt-s.com/company/
[2] https://navcoin.org/en/roadmap/
[3] https://navhub.org/get-involved/
[4] https://navhub.org/how-to-guide/
[5] https://navhub.org/assets/NavCoinDeveloperManifesto.pdf
[6] https://navhub.org/assets/NavCoinContentManifesto.pdf
[7] https://navhub.org/assets/NavCoinBrandGuidelines.pdf
[8] https://valenceplatform.org/
[9] https://valenceplatform.org/learn/business-on-the-blockchain-made-easy/
[10] https://bitcointalk.org/index.php?topic=679791.msg8320228#msg8320228
submitted by crypto_sIF to CryptoCurrency [link] [comments]

Bitcoin is the honeybadger of money - a way for enlightened individuals to opt out of a system of misguided fools.

As Bitcoin grows into it's second decade of existence, we have seen it successfully resist corporate and mining takeovers. It continues to be the most secure, with the highest hash rate by a large margin. It's dominance is strong today, but is it permanent?
It all depends on what it's being compared to.
There are forks of Bitcoin (altcoins) that exist for various reasons, but none really have shown that they are even more decentralized, or more designed to protect an individual's financial rights, than Bitcoin itself. The spinoffs are often simply money-grabs by small groups, hoping to mislead uninformed people into buying their altcoins (lovingly called "shitcoins").
If we compare Bitcoin to fiat currencies or physical gold, we know Bitcoin is much, much smaller. And similarly, if we compare Bitcoin to transaction systems such as PayPal or Visa/Mastercard, Bitcoin is much much smaller.
But whether comparing to altcoins or comparing to existing money or money systems, does it really matter what the "share size" of Bitcoin is? That is, Bitcoin being smaller than an altcoin or any other system, doesn't take away from it's true value of being a highly secure, highly decentralized, non-corporate money.
Bitcoin being "smaller" than the old systems is not an issue with Bitcoin. Nor will Bitcoin being "smaller" than any new up-and-coming system/altcoin necessarily be an issue for Bitcoin. Because as long as the principles behind the protocol stay true, which it has done for over a decade now, it will be a successful sanctuary for individuals who understand. It does NOT matter how small or large of a share Bitcoin holds over the economy. What matters that it upholds it's promise to remain decentralized and limited.
The share of the market Bitcoin holds is really a reflection of two primary things:
These two things can, and most likely, will change as Bitcoin becomes mainstream.
The mainstream isn't going through a period of intellectual enlightenment where suddenly it wants freedom back. If anything, it's going even deeper into "relinquishing control". That is, people are more afraid than ever, and people are more desperate and asking for government for help these days. Surveillance and socialism are becoming extremely popular in an environment where printing money hasn't solved their woes created by printing money.
So, as Bitcoin becomes embedded into the mainstream, it's main limiting growth will be the overall intelligence and acceptance of people in understanding these values. Sadly, this does not look good.
However, Bitcoin itself doesn't care.
Bitcoin is protection against the very people who wish to control you or confiscate your money for their immoral actions.
If the mainstream decide they want to elect a socialist/communist president and create a 75% tax on your income, Bitcoin offers a way to illegally evade such stupid taxes on a moral basis.
With Bitcoin and it's history shown in the last decade, compared to no other money that exists today, you actually have an opportunity to protect yourself from the foolishness of others.
Rights are being stripped away every single day. Human decency, dignity, and supposedly sensible concepts are thrown out in the name of fear.
But Bitcoin persists, and is a sanctuary against the foolishness.
As time goes on, we continue to see more of the same foolishness being thrown around (and perhaps, is evidence of it becoming more mainstream) in that, mainstream foolishness has really embedded itself into the conversations.
We're seeing more altcoins than ever, corporate coins, and "blockchain" or "permissioned-blockchain" is the cool buzzword for companies to describe a horribly slow and inefficient database that will help lead them to product success. We're seeing more acceptance of KYC, of companies such as Coinbase, and people saying, "Just pay your taxes - moral or immoral doesn't matter". This is actually a perfect reflection of mainstream today.
And the beauty of it? Again, Bitcoin doesn't care. It remains a small sanctuary, and it will only grow as people become educated. It does NOT matter if some phoney alt becomes more popular than Bitcoin, that is simply a reflection of mainstream ignorance now embedding itself into the "cryptocurrency market".
The question, which I can't really say for sure, is whether or not there will come a time when people have been burned enough times by scam coins, or burned enough by government failures, or burned enough by inflation, or burned enough by people creating laws designed to steal from those in the minority, that they will finally use Bitcoin to protect themselves.
How many times do you need to be punched in the face (financially) before you put your hands up in front of your face to protect it (using Bitcoin)?
I'm not sure, but I can take solace in the fact that I know how to defend my wallet and that Bitcoin has proven, time and time again, that it will defend me as well.
submitted by anon516 to Bitcoin [link] [comments]

Updating the Scaling Roadmap | Paul Sztorc | Jul 10 2017

Paul Sztorc on Jul 10 2017:
Summary

In my opinion, Greg Maxwell's scaling roadmap [1] succeeded in a few
crucial ways. One success was that it synchronized the entire Bitcoin
community, helping to bring finality to the (endless) conversations of
that time, and get everyone back to work. However, I feel that the Dec
7, 2015 roadmap is simply too old to serve this function any longer. We
should revise it: remove what has been accomplished, introduce new
innovations and approaches, and update deadlines and projections.
Why We Should Update the Roadmap

In a P2P system like Bitcoin, we lack authoritative info-sources (for
example, a "textbook" or academic journal), and as a result
conversations tend to have a problematic lack of progress. They do not
"accumulate", as everyone must start over. Ironically, the scaling
conversation itself has a fatal O(n2) scaling problem.
The roadmap helped solve these problems by being constant in size, and
subjecting itself to publication, endorsement, criticism, and so forth.
Despite the (unavoidable) nuance and complexity of each individual
opinion, it was at least globally known that X participants endorsed Y
set of claims.
Unfortunately, the Dec 2015 roadmap is now 19 months old -- it is quite
obsolete and replacing it is long overdue. For example, it highlights
older items (CSV, compact blocks, versionbits) as being future
improvements, and makes no mention of new high-likelihood improvements
(Schnorr) or mis-emphasizes them (LN). It even contains mistakes (SegWit
fraud proofs). To read the old roadmap properly, one must already be a
technical expert. For me, this defeats the entire point of having one in
the first place.
A new roadmap would be worth your attention, even if you didn't sign it,
because a refusal to sign would still be informative (and, therefore,
helpful)!
So, with that in mind, let me present a first draft. Obviously, I am
strongly open to edits and feedback, because I have no way of knowing
everyone's opinions. I admit that I am partially campaigning for my
Drivechain project, and also for this "scalability"/"capacity"
distinction...that's because I believe in both and think they are
helpful. But please feel free to suggest edits.
I emphasized concrete numbers, and concrete dates.
And I did NOT necessarily write it from my own point of view, I tried
earnestly to capture a (useful) community view. So, let me know how I did.
==== Beginning of New ("July 2017") Roadmap Draft ====
This document updates the previous roadmap [1] of Dec 2015. The older
statement endorsed a belief that "the community is ready to deliver on
its shared vision that addresses the needs of the system while upholding
its values".
That belief has not changed, but the shared vision has certainly grown
sharper over the last 18 months. Below is a list of technologies which
either increase Bitcoin's maximum tps rate ("capacity"), or which make
it easier to process a higher volume of transactions ("scalability").
First, over the past 18 months, the technical community has completed a
number of items [2] on the Dec 2015 roadmap. VersonBits (BIP 9) enables
Bitcoin to handle multiple soft fork upgrades at once. Compact Blocks
(BIP 152) allows for much faster block propagation, as does the FIBRE
Network [3]. Check Sequence Verify (BIP 112) allows trading partners to
mutually update an active transaction without writing it to the
blockchain (this helps to enable the Lightning Network).
Second, Segregated Witness (BIP 141), which reorganizes data in blocks
to handle signatures separately, has been completed and awaits
activation (multiple BIPS). It is estimated to increase capacity by a
factor of 2.2. It also improves scalability in many ways. First, SW
includes a fee-policy which encourages users to minimize their impact on
the UTXO set. Second, SW achieves linear scaling of sighash operations,
which prevents the network from crashing when large transactions are
broadcast. Third, SW provides an efficiency gain for everyone who is not
verifying signatures, as these no longer need to be downloaded or
stored. SegWit is an enabling technology for the Lightning Network,
script versioning (specifically Schnorr signatures), and has a number of
benefits which
are unrelated to capacity [4].
Third, the Lightning Network, which allows users to transact without
broadcasting to the network, is complete [5, 6] and awaits the
activation of SegWit. For those users who are able to make a single
on-chain transaction, it is estimated to increase both capacity and
scalability by a factor of ~1000 (although these capacity increases will
vary with usage patterns). LN also greatly improves transaction speed
and transaction privacy.
Fourth, Transaction Compression [7], observes that Bitcoin transaction
serialization is not optimized for storage or network communication. If
transactions were optimally compressed (as is possible today), this
would improve scalability, but not capacity, by roughly 20%, and in some
cases over 30%.
Fifth, Schnorr Signature Aggregation, which shrinks transactions by
allowing many transactions to have a single shared signature, has been
implemented [8] in draft form in libsecp256k1, and will likely be ready
by Q4 of 2016. One analysis [9] suggests that signature aggregation
would result in storage and bandwidth savings of at least 25%, which
would therefore increase scalability and capacity by a factor of 1.33.
The relative savings are even greater for multisignature transactions.
Sixth, drivechain [10], which allows bitcoins to be temporarily
offloaded to 'alternative' blockchain networks ("sidechains"), is
currently under peer review and may be usable by end of 2017. Although
it has no impact on scalability, it does allow users to opt-in to
greater capacity, by moving their BTC to a new network (although, they
will achieve less decentralization as a result). Individual drivechains
may have different security tradeoffs (for example, a greater reliance
on UTXO commitments, or MimbleWimble's shrinking block history) which
may give them individually greater scalability than mainchain Bitcoin.
Finally, the capacity improvements outlined above may not be sufficient.
If so, it may be necessary to use a hard fork to increase the blocksize
(and blockweight, sigops, etc) by a moderate amount. Such an increase
should take advantage of the existing research on hard forks, which is
substantial [11]. Specifically, there is some consensus that Spoonnet
[12] is the most attractive option for such a hardfork. There is
currently no consensus on a hard fork date, but there is a rough
consensus that one would require at least 6 months to coordinate
effectively, which would place it in the year 2018 at earliest.
The above are only a small sample of current scaling technologies. And
even an exhaustive list of scaling technologies, would itself only be a
small sample of total Bitcoin innovation (which is proceeding at
breakneck speed).
Signed,
[1]
https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2015-Decembe011865.html
[2] https://bitcoincore.org/en/2017/03/13/performance-optimizations-1/
[3] http://bluematt.bitcoin.ninja/2016/07/07/relay-networks/
[4] https://bitcoincore.org/en/2016/01/26/segwit-benefits/
[5]
http://lightning.community/release/software/lnd/lightning/2017/05/03/litening/
[6] https://github.com/ACINQ/eclair
[7] https://people.xiph.org/~greg/compacted_txn.txt
[8]
https://github.com/ElementsProject/secp256k1-zkp/blob/d78f12b04ec3d9f5744cd4c51f20951106b9c41a/src/secp256k1.c#L592-L594
[9] https://bitcoincore.org/en/2017/03/23/schnorr-signature-aggregation/
[10] http://www.drivechain.info/
[11] https://bitcoinhardforkresearch.github.io/
[12]
https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2017-February/013542.html
==== End of Roadmap Draft ====
In short, please let me know:
  1. If you agree that it would be helpful if the roadmap were updated.
  2. To what extent, if any, you like this draft.
  3. Edits you would make (specifically, I wonder about Drivechain
thoughts and Hard Fork thoughts, particularly how to phrase the Hard
Fork date).
Google Doc (if you're into that kind of thing):
https://docs.google.com/document/d/1gxcUnmYl7yM0oKR9NY9zCPbBbPNocmCq-jjBOQSVH-A/edit?usp=sharing
Cheers,
Paul
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Why Invest in Abjcoin

Abjcoin, Real Asset In The Market Place It’s no new news that the crypto currency is the best investment to go into right now. The gradually and global acceptance of crypto currency within the past 2 years had crypto currencies like Bitcoin an increase in return of investment over of 5000% and still approaching more than landed properties. Let’s do the mathematics here. 1. A portion of land in Lekki in 2013 that worth 10 million naira will today (2017) be valued around 50 to 100 million naira. 2. But Bitcoin value of 10 million in 2013, will today in 2017 be valued at Over 3 Billion Naira at a market price of $4000 per BTC by 360/$ conversion
What about Ethereum COIN, Lite coin and the rest? Their various prices have skyrocketed that average Person now is looking for a cheap coin with good future prospects to throw money into. That’s here the big problem comes in. Here is the Problem The price of bitcoin is over 1.4 Million naira at the moment, and buying just 1BTC with just a heavy amount won’t be a smart way to invest into Crypto currency. ABJ Coin, being Nigeria first decentralized crypto currency with Blockchain solution just like Bitcoin is here to give you a second chance to undo the investment mistake of 2013. At the moment, 1 ABJcoin is trading at $0.50 (Less than $1, Sept 2017) which is valued at 180 Naira. Now; 3. 1 Bitcoin is projected to trade at $10,000 by the end of 2017 while 1 ABJcoin is projected to trade at $5 in the Market place by the end of 2017 Using 1.4 million naira cash value at hand to compare which way to go, a. 1 BTC will mount to $10,000 which is about 3.6 million naira by then end of 2017, while b. 1.4 Million naira will purchase 8000 ABJcoins will be valued at 14,400,000 when traded at $5 per ABJcoin. Now, all thing being equal and having the various market trends go well by the end of 2017 at 360/$ rate You will be making a whooping sum of 10,800,000 profit if you invest into ABJ coin right now. Having said all these and looking at the two investment opportunities at hand and real asset in the market place, ABJcoin is definitely the way forward for every smart investor. ABJcoin hold a very good fortune right now and not investing into it is one gavial mistake you wouldn’t want to take. It is the first of it’ kind in Nigeria and it has come to stay You must get into the ABJcoin trend, as it’s one of the real asset in the crypto currency market place right now. As a Nigerian, Below are the Shocking reasons why you must invest into ABJcoin instead of other Altcoins 4. Local merchants in Nigeria will eventually adopt ABJcoin as a means of exchange which give it an advantage over other alt coins in the country. This mean you can use ABJcoin to buy goods and services in Nigeria unlike other alt coins that can only be traded. 5. The return of investment opportunity if very high as it’s about to change the stories of many Nigerian, Africa and the global world at large. 6. ABJcoin is tailored at solving all the hitches in the financial sectors, giving ever Nigerian power over their money and serving as a smart investment opportunity for foreigners. (Just as Naira represent Nigeria in the fiat currency market, ABJcoin will represent Nigeria at the international cryptocurrency market) as and definitely going to uphold and upgrade the value of Naira when converted to fiat. 7. With ABJcoin ATM card and machines, you can withdraw your ABJcoin at any of the ATM machines made available nationwide. (First in Africa). 8. You get the happy opportunity of becoming a miner of ABJcoin if you want. See guide here if you want to become an ABJCoin miner. 9. Robust supporting and tutorials on HOW-TO-ANYTHING concerning ABJcoin. So, the issues of technicalities wont’ be a problem. The advantages of investing into ABJcoin are too many to start recointing, so, the best way to go about it right now is to invest. So, what are you waiting for? Click here now and invest into ABJcoin, the money of the future.
submitted by Abjcoin to crypto_currency [link] [comments]

Offisium Decentralised Barter Exchange

Offisium Network
Decentralised barter exchange platform
May 24, 2018
Introduction to the Offisium Barter Exchange Project:
Offisium is building the first decentralized barter exchange, a supply system of liquidity, and asset backed blockchain hub. It’s a cryptocurrency developed to replace the traditional “trade dollars” in the barter trade system. An open distributed system of liquidators which upholds barter trade conduct of all members of the network. It uses a mechanism of a protocol token to make a delegated proof-of-stake blockchain dApp to regulate the barter activities amongst participants. The decentralised barter platform hub allows businesses and individuals to trade their goods and services, for other member’s goods and services. Participants can buy and sell their goods or services as part of a global network. The network will help businesses gain access to a huge potential customer base, which is not accessible to typical competitors who do not use the network or hold and Offisium private key. This also works for businesses in guaranteeing to bring new customers allowing them to grow or to use spare or underutilised cash/goods capacity.
It will provide one of the world’s most innovative blockchain business models by making the barter trade process simple to manage. Unlike all other traditional barter exchange platforms, Offisium also allows for decentralised barter of other blockchains and between multiple blockchains directly without a trusted gateway barter currency. This is achieved using EOS smart contracts, protocol tokens to uphold correct market behaviour of matching transactions and invoices, exchange data for use with EOS smart contracts.
Offisium is a London based Blockchain Startup. A decentralised exchange where goods or services are directly exchanged for other goods or services without using a medium of exchange, such as money.
The modern trade and barter industry includes four major sectors; retail barter exchange platforms (mutual peer-to-peer credit clearing systems), corporate barter systems (who perform larger company barter transactions), counter-trade (usually between sovereign governments and targeted on import & export of commodities), and complementary currency systems (local/community currencies).

Background:

1.Traditional Barter Exchanges (Problem) vs Offisium (Solution)

Offisium is the result of a close study of the current economic affairs. Nowadays we have a fiat money that is used to buy a certain labour (service). If I'm a plumber, I must work a certain amount of time per day and get paid at a rate. For my time, not the value of my work or my labour.
Because people have put a price on the value of what they do. If a doctor is saving lives, the value of his work will surely be bigger than the value of a carpenter who makes tables. So eventually, when we talk about hourly rates, for doctors, plumbers or attorneys, we are not valuing their time, we are valuing their work. And we use the time to derive how valuable their time is.
Offisium tokens value comes from the value of labour. The value of what is produced, whether it is a service, or a product.
This means that fundamentally, the tokens are not only acquired through purchasing them on an exchange, or buying them through an ICO, but also through using them to exchange service value between individuals and businesses. They are acquired by using your time and the value of that time at your work. To pay for another service or good, using your own service or good.
If a doctor needs a tutor to teach his child, instead of paying him with dollars from his bank account (cash). He pays him with his service as a doctor. Provided they are both members of the Offisium Network and both hold Offisium Wallets. The network here serves as a middle man to facilitate the bartering of these goods and services.
The exchange rates between the doctor’s service and the tutor’s service, will vary. A doctor's one hour may be higher in value than a tutor's one hour of work. For this to work, Offisium debits the doctor’s wallet and credits the tutor’s wallet with tokens that they both agreed to, to sell their goods and services for. This is the core concept of a barter system for exchanging value between individuals and businesses.
Offisium is aiming to use interest-free token lines of credits which will allow direct swaps between private key holders. Members may then earn token credits by exchanging goods and services among themselves. Which they can then spend again on the same network. The transactions are recorded in the decentralised ledger which is open to all members. Token credits are issued by the Offisium network members, for their own benefit and therefore considered mutual credits. The only difference this time, the transactions are open and transparent, and decentralised.
The real question however is, how can a barter economy be a better economy?
We first must agree that; “Any economy is a barter economy” One thing is traded for another, each party to the trade valuing what he gets more than what he gives. Always a win-win transaction, regardless of the items involved. But simple barter without a monetary system is like comparing the performance of a roller skate to that of a Ferrari.
And an economy whose marketplace is not entirely free, but whose prices are distorted by forced transactions via government interference, regulation, "protection" etc., is like a Ferrari with a flat tire and misfiring cylinders. Money is simply the most widely acceptable trade commodity in a "division-of-labor" economy. For some 5000 years that has been silver and gold, especially in coin form, which were arrived at because of their physical properties giving them the functional attributes of sound money: uniformity​, ** divisibility*, **durability, and **scarcity (limited quantity) *.
Paper "money" (currency), fulfils well all of these functions except the last. When more "money" can easily be produced without significant cost--as printing press products, or even worse, digits in a computer--those who control its production (and make monopoly laws forcing its acceptance in trade to the exclusion of other media) inevitably fall victim to the all-too-human temptation to produce it to their own advantage and to the disadvantage of everyone further down the distribution line.
The only purpose of legal tender laws is to force people to use something they would otherwise not choose for money if left free to decide. No one must be forced at gunpoint to accept good sound money in trade, at least not until they're brainwashed to the point of believing that paper, not gold, is real money.
Money, like every commodity in the marketplace, has a price. For the money, its price is the inverse of the price of any commodity. This is particularly easy to understand in the international money market where currencies trade against each other. The supply-demand-price curve teaches us that with increasing quantity, the price will decrease at constant demand, or demand will decrease at a constant price.
Flooding the marketplace with intrinsically worthless scraps of paper is not the road to riches. Except for those who do the flooding, spending their zero-cost fun coupons at the price preceding the fall in purchasing power when the market adjusts to the new quantity.
This is why prices continuously increases in a fiat currency system. Only when the market distortions resulting from the easy money misallocation of scarce resources causes the economy to crash so we see actual deflation as cash-strapped borrowers default on loans, banks go belly up, and goods are sold by desperate merchants for whatever they will bring in something a bit closer to a free market.
To sum up, a money-less basic barter economy is incredibly inefficient and paper fiat currency used as a money substitute in the marketplace is either just plain dishonest or rife for abuse by the bankers who control it.
A free market economy based on honest commodity money has proved itself the best system imaginable to date to provide a steadily increasing quality of life for the most people. Therefore, we introduced Offisium as a solution to both problems.
A network of money-less exchange of value, using the most efficient, immutable, transparent and decentralised ledger. The blockchain.
It is possible to argue that a system is not considered barter if there is a unit-of-account. (OFFS Tokens). However, that is an archaic and incomplete definition of the word barter as defined in modern usage. A system of barter implies organised barter, rather than a one-off. Perhaps it is a misnomer for the word to be applied to modern barter networks, but it is generally accepted. Governments totally appreciate organised barter networks.
If the economy is slow and the GDP is down XX% from peak, tax revenues are down XX% from peak too. That is the minimum that can be made up through cashless trading. There is always excess capacity stagnating in the marketplace for a need of national casino chips.
Trade monetises spare capacity and creates taxable commerce. Governments embrace the corporate barter industry, and in some cases even use them. Some key dimensions that determine whether money or barter is better are:
· The separability of money transactions from the enjoyment of the good or service in question, so that financial transactions don't mess up the creation of value.
· The credibility/stability of the money being used.
· The complexity of the economy -- the degree to which workers are specialised and goods are differentiated, making it unlikely that the producer of what you want is a consumer of what you make.
Cash Trade vs Offisium (decentralised barter)Trade:
Sometimes, money transactions surrounding a good or service affect its consumption value.
An easy, yet interesting example of this, is sex: its value to those involved changes drastically if it's paid for. When something has this property, we say that its value to the consumer is not separable from money transactions. For goods like this, the classic arguments suggesting that trade with money yields more efficient outcomes fail, and barter is likely to be better.
Less racy examples include personal letters, a friendly conversation on the phone, birthday parties, etc. These goods and services are more efficiently provided through a mechanism of trading favours and informal mental accounting, and in fact, that's what we see in the world. The more one's “use value” of something is negatively affected by the knowledge that there is an explicit, monetary quid pro quo, the more we would expect it to be bartered rather than bought and sold.
Effective trade with money also requires a stable currency. Whether it is something natural (like gold) that's used as a currency or something printed by a government (like dollar bills), the people involved need to have beliefs that rationalise accepting it in exchange for things of real value, like effort, work, labour, danger etc.
They should believe that they'll be able to buy things of value with it in the future. That, in turn, means they should believe that many others will have similar beliefs.
When there is uncertainty about these things, the uncertainty reduces the value of money and introduces a friction into monetary transactions. The uncertainty can come from not trusting the people who print the money: if I think they'll print a ton of it later and devalue the bills I'm currently getting; a dollar is not very valuable to me.
In the case of gold, it can come from not believing that the people I'll trade with in the future (perhaps different people from the ones I'm trading with today) will regard it as valuable. And the same can be said about Bitcoin.
A functioning currency requires a social setting that is cohesive and stable in certain ways, and when that's absent, barter offers a clearer path to efficient transactions. Of course, money has one main, vast advantage over barter: it overcomes the problem of the double coincidence of wants.
Suppose Ann can do a favour for Bob every day; Bob can do a favour for Charlie every day, and Charlie can do a favour for Ann every day, and nobody can do anything for anyone else.
There is no scope for bilateral barter in this situation. But if a favour costs a dollar, then Ann can buy a favour from Charlie for a dollar; Charlie can use the dollar to buy a favour from Bob, and Bob can use the dollar to buy a favour from Ann. Nobody needs to worry about whether everyone in the cycle is doing their jobs -- they just trade a favour for money in their bilateral relationships. Favour flow around the cycle efficiently with a minimum of explicit coordination.
Note that in this example, nobody values money in itself -- it is just paper: people only value favour. But money is the instrument that enables us to coordinate the flow of favour around the cycle.
Thus, in a complex economy, it is very rare that the person you want to get stuff from wants whatever you produce. (For example, the people who make burritos at Chipotle have little immediate use for the algorithms or economic analyses that some of us produce.)
Indeed, the kinds of cycles that are present in the real economy are very long. This is intensified when people become more specialised in their work, and as goods become more differentiated. Thus, assuming that we don't have the non-separability and currency stability problems outlined above, money beats barter by a long shot for the trade of specialised goods and services among a large number of diverse agents.
This brings us to question the difference between cash payments and a barter exchange of value. The answer is in what we call "Value”.
Nobel Laureate Al Roth published an article titled "Repugnance as a Constraint on Markets"2 where he explored the notion of associating cash Payments with Repugnance.
“One often-noted regularity is that some transactions that are not repugnant as gifts and in-kind exchanges become repugnant when money is added. The historical repugnance to charging interest for loans seems to fall into this class too, as do prohibitions on paying birth mothers of children put up for adoption, and perhaps prostitution.
That is, loans themselves, and adoption, and love are widely regarded as good things when given freely, even when their commercial counterparts are regarded in a negative way.
Similarly, in Massachusetts and California, it is legal to sell human eggs for fertilization but illegal to sell them for research purposes, although it is legal to donate them for research. And widespread outrage in Britain greeted the decision to allow sailors recently released from captivity in Iran to sell their stories to news media: after two sailors had done so, the remaining sailors were no longer allowed to receive money for interviews offering money is often regarded as inappropriate even when not repugnant.
Concerns about the monetization of transactions fall into three principal classes. One concern is objectification: that is, the fear that putting a price on certain things and buying or selling them might move them into a class of impersonal objects to which they should not belong. The sociology literature has shown a longstanding interest in how the introduction of money changes many kinds of social relationships and their meanings.
A second concern is that offering substantial monetary payments might be coercive, in the sense that it might leave some people, particularly the poor, open to exploitation from which they deserve protection.
A third, the concern, sometimes less clearly articulated, is that monetising certain transactions that might not themselves be objectionable may cause society to slide down a slippery slope to genuinely repugnant transactions. Experience suggests that ideas about the inappropriateness of certain kinds of transaction, even when this inappropriateness falls short of outright repugnance, can constrain market design.
  1. Offisium’s Decentralised Barter Exchange:
The barter system itself doesn’t have more specific weaknesses than any other human-driven system. Wherever humans are involved, there is an opportunity for scammers and cheats who are looking to take advantage of the system.
This is true for business and every other interaction between people. You can create official smart contracts and smart transaction receipts for bartering in the same way you do for business deals on the blockchain decentralised ledgers.
It merely involves an alternate form of payment (transaction). One might say that a weakness is how much more creativity and effort is needed, compared to walking into a store and exchanging cash for what you want.
However, we see this as a bonus because it forces you to network more effectively, build stronger relationships, and opens more opportunities for a decentralised transparent and trustworthy future.
Being connected adds that much more value to the barter, over simply paying a cashier and walking away.
  1. How is an Offisium Transaction Invoiced?
The invoice is raised just like any other transaction on the blockchain and is reflected in the open ledger. The outstanding is squared off by making purchases from the same account and booking invoices for the purchases made.
If it is a direct (10M) transaction, it is advisable to make the transaction back to back, so the outstanding does not stand there for too long. In case of buying and selling through an exchange, there are multiple transactions and outstanding is taken care of time to time.
Business owners love bartering because it saves them cash; It moves excess stock or idle inventory and fills up their downtime or spare capacity. Chances are you have conducted a one-to-one barter deal in the past and the outcome was a win-win. However, while these direct barter deals can be effective, they lack flexibility, which limits how often they may occur. The challenge with a direct one-on-one barter is you might want something that one business has but they may not want what you have. By creating a Crypto Currency of traded Offisium tokens, you can barter-trade conveniently with up to millions of Offisium network wallet holders worldwide.
Offisium creates a flexible, secure and fully accountable way for businesses to barter their goods and services with businesses all around the world. This makes it one of the largest B2B, B2C, C2C, C2B and B2C networks with Millions of participants who hold an Offisium Wallet and who will be effectively using barter to Gain new customers, who generate increased sales income. Move excess stock. Free up cash and Increase profits from the introduction of new business. Trading Offisium Tokens for the goods and services you sell and this value is recorded electronically on the blockchain and in your wallet.(Just like you do with a bank account).
You then spend your credit balance (or draw on your interest-free line of token credit) on goods or services from any other Officium Network member. This offers completely flexible trading because the purchase can be from the same business that purchases from you. You spend with anyone locally, nationally and internationally. You can sell now and buy later or buy now and sell later. You can use the interest-free line of token credit as working capital, even before making a sale.
Officium Network brings a solution to the current issues of Cash/Liquidity problems within a certain business. Most businesses if not all of them like to keep cash flow. And most startups fail due to cash flow issues. Being an Offisium member and having a line of interest free token credit, not only will allow you to start your project. But also pay for it back using the value of what you do. You could pay the network back by selling us your products too. This is also an opportunity for blockchain developers who have spare work time who could pay back the network by choosing to work for the network and help it grow in their own spare time.
Offisium transactions are similar to a credit/debit card transaction. There are several Point of Sale tools available to process transactions, including the back-office of our website (which is a bit like online banking), A smartphone app (Offisium app) as well as traditional methods. Offisium’s website provides real-time statements so you can reconcile all transactions. Offisium is a 100% trading system exchange. Every client agrees to buy and sell at 100% full Offisium barter using our tokens. There are practical exceptions to this rule such as property purchases, or £100,000+ capital equipment purchases with a minimum 20% barter component through Offisium.
Offisium will be hosting local, national and eventually international networking functions every month and regional Trade Shows. Our users are encouraged to participate in these functions in order to meet other business owners and promote their own companies. It is a great way to build up your business contact base.
Offisium token is called “OFFS” and is the trading currency that Offisium clients use to transact with each other. Barter transactions on the network are accounted for the same way as your cash transaction, therefore you claim Tax back on purchases, just as you do now. The tokens will be used as utility tokens.
To be continued...Offisium is awaiting the full public disclosure of its Whitepaper and Roadmap.
[[email protected]](mailto:[email protected])
submitted by OffisiumNetwork to u/OffisiumNetwork [link] [comments]

Updating the Scaling Roadmap [Update] | Paul Sztorc | Jul 17 2017

Paul Sztorc on Jul 17 2017:
Hello,
Last week I posted about updating the Core Scalability Roadmap.
I'm not sure what the future of it is, given that it was concept NACK'ed
by Greg Maxwell the author of the original roadmap, who said that he
regretted writing the first one.
Nonetheless, it was ACKed by everyone else that I heard from, except for
Tom Zander (who objected that it should be a specific project document,
not a "Bitcoin" document -- I sortof agree and decided to label it a
"Core" document -- whether or not anything happens with that label is up
to the community).
I therefore decided to:
  1. Put the draft on GitHub [1]
  2. Update it based on all of the week 1 feedback [2]
  3. Add some spaces at the bottom for comments / expressions of interest [2]
However, without interest from the maintainers of bitcoincore.org
(specifically these [3, 4] pages and similar) the document will probably
be unable to gain traction.
Cheers,
Paul
[1] https://github.com/psztorc/btc-core-capacity-2/blob/mastedraft.txt
[2]
https://github.com/psztorc/btc-core-capacity-2/commit/2b4f0ecc9015ee398ce0486ca5c3613e3b929c00
[3] https://bitcoincore.org/en/2015/12/21/capacity-increase/
[4] https://bitcoincore.org/en/2015/12/23/capacity-increases-faq/
On 7/10/2017 12:50 PM, Paul Sztorc wrote:
Summary

In my opinion, Greg Maxwell's scaling roadmap [1] succeeded in a few
crucial ways. One success was that it synchronized the entire Bitcoin
community, helping to bring finality to the (endless) conversations of
that time, and get everyone back to work. However, I feel that the Dec
7, 2015 roadmap is simply too old to serve this function any longer. We
should revise it: remove what has been accomplished, introduce new
innovations and approaches, and update deadlines and projections.
Why We Should Update the Roadmap

In a P2P system like Bitcoin, we lack authoritative info-sources (for
example, a "textbook" or academic journal), and as a result
conversations tend to have a problematic lack of progress. They do not
"accumulate", as everyone must start over. Ironically, the scaling
conversation itself has a fatal O(n2) scaling problem.
The roadmap helped solve these problems by being constant in size, and
subjecting itself to publication, endorsement, criticism, and so forth.
Despite the (unavoidable) nuance and complexity of each individual
opinion, it was at least globally known that X participants endorsed Y
set of claims.
Unfortunately, the Dec 2015 roadmap is now 19 months old -- it is quite
obsolete and replacing it is long overdue. For example, it highlights
older items (CSV, compact blocks, versionbits) as being future
improvements, and makes no mention of new high-likelihood improvements
(Schnorr) or mis-emphasizes them (LN). It even contains mistakes (SegWit
fraud proofs). To read the old roadmap properly, one must already be a
technical expert. For me, this defeats the entire point of having one in
the first place.
A new roadmap would be worth your attention, even if you didn't sign it,
because a refusal to sign would still be informative (and, therefore,
helpful)!
So, with that in mind, let me present a first draft. Obviously, I am
strongly open to edits and feedback, because I have no way of knowing
everyone's opinions. I admit that I am partially campaigning for my
Drivechain project, and also for this "scalability"/"capacity"
distinction...that's because I believe in both and think they are
helpful. But please feel free to suggest edits.
I emphasized concrete numbers, and concrete dates.
And I did NOT necessarily write it from my own point of view, I tried
earnestly to capture a (useful) community view. So, let me know how I did.
==== Beginning of New ("July 2017") Roadmap Draft ====
This document updates the previous roadmap [1] of Dec 2015. The older
statement endorsed a belief that "the community is ready to deliver on
its shared vision that addresses the needs of the system while upholding
its values".
That belief has not changed, but the shared vision has certainly grown
sharper over the last 18 months. Below is a list of technologies which
either increase Bitcoin's maximum tps rate ("capacity"), or which make
it easier to process a higher volume of transactions ("scalability").
First, over the past 18 months, the technical community has completed a
number of items [2] on the Dec 2015 roadmap. VersonBits (BIP 9) enables
Bitcoin to handle multiple soft fork upgrades at once. Compact Blocks
(BIP 152) allows for much faster block propagation, as does the FIBRE
Network [3]. Check Sequence Verify (BIP 112) allows trading partners to
mutually update an active transaction without writing it to the
blockchain (this helps to enable the Lightning Network).
Second, Segregated Witness (BIP 141), which reorganizes data in blocks
to handle signatures separately, has been completed and awaits
activation (multiple BIPS). It is estimated to increase capacity by a
factor of 2.2. It also improves scalability in many ways. First, SW
includes a fee-policy which encourages users to minimize their impact on
the UTXO set. Second, SW achieves linear scaling of sighash operations,
which prevents the network from crashing when large transactions are
broadcast. Third, SW provides an efficiency gain for everyone who is not
verifying signatures, as these no longer need to be downloaded or
stored. SegWit is an enabling technology for the Lightning Network,
script versioning (specifically Schnorr signatures), and has a number of
benefits which
are unrelated to capacity [4].
Third, the Lightning Network, which allows users to transact without
broadcasting to the network, is complete [5, 6] and awaits the
activation of SegWit. For those users who are able to make a single
on-chain transaction, it is estimated to increase both capacity and
scalability by a factor of ~1000 (although these capacity increases will
vary with usage patterns). LN also greatly improves transaction speed
and transaction privacy.
Fourth, Transaction Compression [7], observes that Bitcoin transaction
serialization is not optimized for storage or network communication. If
transactions were optimally compressed (as is possible today), this
would improve scalability, but not capacity, by roughly 20%, and in some
cases over 30%.
Fifth, Schnorr Signature Aggregation, which shrinks transactions by
allowing many transactions to have a single shared signature, has been
implemented [8] in draft form in libsecp256k1, and will likely be ready
by Q4 of 2016. One analysis [9] suggests that signature aggregation
would result in storage and bandwidth savings of at least 25%, which
would therefore increase scalability and capacity by a factor of 1.33.
The relative savings are even greater for multisignature transactions.
Sixth, drivechain [10], which allows bitcoins to be temporarily
offloaded to 'alternative' blockchain networks ("sidechains"), is
currently under peer review and may be usable by end of 2017. Although
it has no impact on scalability, it does allow users to opt-in to
greater capacity, by moving their BTC to a new network (although, they
will achieve less decentralization as a result). Individual drivechains
may have different security tradeoffs (for example, a greater reliance
on UTXO commitments, or MimbleWimble's shrinking block history) which
may give them individually greater scalability than mainchain Bitcoin.
Finally, the capacity improvements outlined above may not be sufficient.
If so, it may be necessary to use a hard fork to increase the blocksize
(and blockweight, sigops, etc) by a moderate amount. Such an increase
should take advantage of the existing research on hard forks, which is
substantial [11]. Specifically, there is some consensus that Spoonnet
[12] is the most attractive option for such a hardfork. There is
currently no consensus on a hard fork date, but there is a rough
consensus that one would require at least 6 months to coordinate
effectively, which would place it in the year 2018 at earliest.
The above are only a small sample of current scaling technologies. And
even an exhaustive list of scaling technologies, would itself only be a
small sample of total Bitcoin innovation (which is proceeding at
breakneck speed).
Signed,

[1]
https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2015-Decembe011865.html
[2] https://bitcoincore.org/en/2017/03/13/performance-optimizations-1/
[3] http://bluematt.bitcoin.ninja/2016/07/07/relay-networks/
[4] https://bitcoincore.org/en/2016/01/26/segwit-benefits/
[5]
http://lightning.community/release/software/lnd/lightning/2017/05/03/litening/
[6] https://github.com/ACINQ/eclair
[7] https://people.xiph.org/~greg/compacted_txn.txt
[8]
https://github.com/ElementsProject/secp256k1-zkp/blob/d78f12b04ec3d9f5744cd4c51f20951106b9c41a/src/secp256k1.c#L592-L594
[9] https://bitcoincore.org/en/2017/03/23/schnorr-signature-aggregation/
[10] http://www.drivechain.info/
[11] https://bitcoinhardforkresearch.github.io/
[12]
https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2017-February/013542.html
==== End of Roadmap Draft ====
In short, please let me know:
  1. If you agree that it would be helpful if the roadmap were updated.
  2. To what ext...[message truncated here by reddit bot]...
original: https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2017-July/014802.html
submitted by dev_list_bot to bitcoin_devlist [link] [comments]

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