submitted by sidhujag to ethereum [link] [comments]
We are excited to participate and present Syscoin Platform's ideal characteristics and capabilities towards a well-rounded Reddit Community Points solution!
Our scaling solution for Reddit Community Points involves 2-way peg interoperability with Ethereum. This will provide a scalable token layer built specifically for speed and high volumes of simple value transfers at a very low cost, while providing sovereign ownership and onchain finality.
Token transfers scale by taking advantage of a globally sorting mempool that provides for probabilistically secure assumptions of “as good as settled”. The opportunity here for token receivers is to have an app-layer interactivity on the speed/security tradeoff (99.9999% assurance within 10 seconds). We call this Z-DAG, and it achieves high-throughput across a mesh network topology presently composed of about 2,000 geographically dispersed full-nodes. Similar to Bitcoin, however, these nodes are incentivized to run full-nodes for the benefit of network security, through a bonded validator scheme. These nodes do not participate in the consensus of transactions or block validation any differently than other nodes and therefore do not degrade the security model of Bitcoin’s validate first then trust, across every node. Each token transfer settles on-chain. The protocol follows Bitcoin core policies so it has adequate code coverage and protocol hardening to be qualified as production quality software. It shares a significant portion of Bitcoin’s own hashpower through merged-mining.
This platform as a whole can serve token microtransactions, larger settlements, and store-of-value in an ideal fashion, providing probabilistic scalability whilst remaining decentralized according to Bitcoin design. It is accessible to ERC-20 via a permissionless and trust-minimized bridge that works in both directions. The bridge and token platform are currently available on the Syscoin mainnet. This has been gaining recent attention for use by loyalty point programs and stablecoins such as Binance USD.
SolutionsSyscoin Foundation identified a few paths for Reddit to leverage this infrastructure, each with trade-offs. The first provides the most cost-savings and scaling benefits at some sacrifice of token autonomy. The second offers more preservation of autonomy with a more narrow scope of cost savings than the first option, but savings even so. The third introduces more complexity than the previous two yet provides the most overall benefits. We consider the third as most viable as it enables Reddit to benefit even while retaining existing smart contract functionality. We will focus on the third option, and include the first two for good measure.
Syscoin + Matic IntegrationMatic and Blockchain Foundry Inc, the public company formed by the founders of Syscoin, recently entered a partnership for joint research and business development initiatives. This is ideal for all parties as Matic Network and Syscoin Platform provide complementary utility. Syscoin offers characteristics for sovereign ownership and security based on Bitcoin’s time-tested model, and shares a significant portion of Bitcoin’s own hashpower. Syscoin’s focus is on secure and scalable simple value transfers, trust-minimized interoperability, and opt-in regulatory compliance for tokenized assets rather than scalability for smart contract execution. On the other hand, Matic Network can provide scalable EVM for smart contract execution. Reddit Community Points can benefit from both.
Syscoin + Matic integration is actively being explored by both teams, as it is helpful to Reddit, Ethereum, and the industry as a whole.
Proving Performance & Cost SavingsOur POC focuses on 100,000 on-chain settlements of token transfers on the Syscoin Core blockchain. Transfers and burns perform equally with Syscoin. For POCs related to smart contracts (subscriptions, etc), refer to the Matic Network proposal.
On-chain settlement of 100k transactions was accomplished within roughly twelve minutes, well-exceeding Reddit’s expectation of five days. This was performed using six full-nodes operating on compute-optimized AWS c4.2xlarge instances which were geographically distributed (Virginia, London, Sao Paulo Brazil, Oregon, Singapore, Germany). A higher quantity of settlements could be reached within the same time-frame with more broadcasting nodes involved, or using hosts with more resources for faster execution of the process.
Addresses used: 100,014
The demonstration was executed using this tool. The results can be seen in the following blocks:
It is important to note that this POC is not focused on Z-DAG. The performance of Z-DAG has been benchmarked within realistic network conditions: Whiteblock’s audit is publicly available. Network latency tests showed an average TPS around 15k with burst capacity up to 61k. Zero-latency control group exhibited ~150k TPS. Mainnet testing of the Z-DAG network is achievable and will require further coordination and additional resources.
Even further optimizations are expected in the upcoming Syscoin Core release which will implement a UTXO model for our token layer bringing further efficiency as well as open the door to additional scaling technology currently under research by our team and academic partners. At present our token layer is account-based, similar to Ethereum. Opt-in compliance structures will also be introduced soon which will offer some positive performance characteristics as well. It makes the most sense to implement these optimizations before performing another benchmark for Z-DAG, especially on the mainnet considering the resources required to stress-test this network.
Cost SavingsTotal cost for these 100k transactions: $0.63 USD
See the live fee comparison for savings estimation between transactions on Ethereum and Syscoin. Below is a snapshot at time of writing:
ETH price: $318.55 ETH gas price: 55.00 Gwei ($0.37)
Syscoin price: $0.11
Snapshot of live fee comparison chart
Z-DAG provides a more efficient fee-market. A typical Z-DAG transaction costs 0.0000582 SYS. Tokens can be safely redeemed/re-spent within seconds or allowed to settle on-chain beforehand. The costs should remain about this low for microtransactions.
Syscoin will achieve further reduction of fees and even greater scalability with offchain payment channels for assets, with Z-DAG as a resilience fallback. New payment channel technology is one of the topics under research by the Syscoin development team with our academic partners at TU Delft. In line with the calculation in the Lightning Networks white paper, payment channels using assets with Syscoin Core will bring theoretical capacity for each person on Earth (7.8 billion) to have five on-chain transactions per year, per person, without requiring anyone to enter a fee market (aka “wait for a block”). This exceeds the minimum LN expectation of two transactions per person, per year; one to exist on-chain and one to settle aggregated value.
Tools, Infrastructure & Documentation
Syscoin BridgeMainnet Demonstration of Syscoin Bridge with the Basic Attention Token ERC-20
A two-way blockchain interoperability system that uses Simple Payment Verification to enable:
APITools to simplify using Syscoin Bridge as a service with dapps and wallets will be released some time after implementation of Syscoin Core 4.2. These will be based upon the same processes which are automated in the current live Sysethereum Dapp that is functioning with the Syscoin mainnet.
DocumentationSyscoin Bridge & How it Works (description and process flow)
Superblock Validation Battles
HOWTO: Provision the Bridge for your ERC-20
HOWTO: Setup an Agent
Developer & User Diligence
Trade-offThe Syscoin Ethereum Bridge is secured by Agent nodes participating in a decentralized and incentivized model that involves roles of Superblock challengers and submitters. This model is open to participation. The benefits here are trust-minimization, permissionless-ness, and potentially less legal/regulatory red-tape than interop mechanisms that involve liquidity providers and/or trading mechanisms.
The trade-off is that due to the decentralized nature there are cross-chain settlement times of one hour to cross from Ethereum to Syscoin, and three hours to cross from Syscoin to Ethereum. We are exploring ways to reduce this time while maintaining decentralization via zkp. Even so, an “instant bridge” experience could be provided by means of a third-party liquidity mechanism. That option exists but is not required for bridge functionality today. Typically bridges are used with batch value, not with high frequencies of smaller values, and generally it is advantageous to keep some value on both chains for maximum availability of utility. Even so, the cross-chain settlement time is good to mention here.
CostEthereum -> Syscoin: Matic or Ethereum transaction fee for bridge contract interaction, negligible Syscoin transaction fee for minting tokens
Syscoin -> Ethereum: Negligible Syscoin transaction fee for burning tokens, 0.01% transaction fee paid to Bridge Agent in the form of the ERC-20, Matic or Ethereum transaction fee for contract interaction.
Z-DAGZero-Confirmation Directed Acyclic Graph is an instant settlement protocol that is used as a complementary system to proof-of-work (PoW) in the confirmation of Syscoin service transactions. In essence, a Z-DAG is simply a directed acyclic graph (DAG) where validating nodes verify the sequential ordering of transactions that are received in their memory pools. Z-DAG is used by the validating nodes across the network to ensure that there is absolute consensus on the ordering of transactions and no balances are overflowed (no double-spends).
APISyscoin-js provides tooling for all Syscoin Core RPCs including interactivity with Z-DAG.
DocumentationZ-DAG White Paper
Useful read: An in-depth Z-DAG discussion between Syscoin Core developer Jag Sidhu and Brave Software Research Engineer Gonçalo Pestana
Trade-offZ-DAG enables the ideal speed/security tradeoff to be determined per use-case in the application layer. It minimizes the sacrifice required to accept and redeem fast transfers/payments while providing more-than-ample security for microtransactions. This is supported on the premise that a Reddit user receiving points does need security yet generally doesn’t want nor need to wait for the same level of security as a nation-state settling an international trade debt. In any case, each Z-DAG transaction settles onchain at a block target of 60 seconds.
Syscoin SpecsSyscoin 3.0 White Paper
(4.0 white paper is pending. For improved scalability and less blockchain bloat, some features of v3 no longer exist in current v4: Specifically Marketplace Offers, Aliases, Escrow, Certificates, Pruning, Encrypted Messaging)
WalletsWeb3 and mobile wallets are under active development by Blockchain Foundry Inc as WebAssembly applications and expected for release not long after mainnet deployment of Syscoin Core 4.2. Both of these will be multi-coin wallets that support Syscoin, SPTs, Ethereum, and ERC-20 tokens. The Web3 wallet will provide functionality similar to Metamask.
Syscoin Platform and tokens are already integrated with Blockbook. Custom hardware wallet support currently exists via ElectrumSys. First-class HW wallet integration through apps such as Ledger Live will exist after 4.2.
Current supported wallets
Syscoin Spark Desktop
ExplorersMainnet: https://sys1.bcfn.ca (Blockbook)
Thank you for close consideration of our proposal. We look forward to feedback, and to working with the Reddit community to implement an ideal solution using Syscoin Platform!
SHA-2 (Secure Hash ... Microsoft announced that Internet Explorer and Edge would stop honoring public SHA-1-signed TLS certificates from February 2017. Mozilla disabled SHA-1 in early January 2016, but had to re-enable it temporarily via a Firefox update, after problems with web-based user interfaces of some router models and security appliances. Cryptanalysis and validation . For a hash ... A comprehensive list of all traded Cryptocurrencies available on Investing.com. Sort and filter by price, market cap, volume, last and change % for each Cryptocurrency. FAQ 2: Is Bitcoin based on gold? No. Bitcoin and gold have only one thing in common. They both are now regarded as financial assets. However, bitcoin is not based on gold. But if you think deeply, Bitcoin needs internet and computer processors to mine, transact and exist. And the internet and computer run on processors and processors have gold in it. So this question is not as silly as it ... I also download sha.h and use it but it ... c cryptography blockchain sha256 sha. ... I know there are a lot of posts about clickonce test certificates renewal on OF but this is not the core of the question. I have an internal clickonce app signed with a Test Certificate that ... certificate clickonce sha1 sha256 sha. asked Sep 1 at 20:35. bkqc. 492 3 3 silver badges 18 18 bronze badges. 0 ... Our real time Binance Coin Bitcoin Binance converter will enable you to convert your amount from BNB to BTC. All prices are in real time. bitcoin mining problem example - A 2018 report from the University of Cambridge, for example, found that while the majority of bitcoin mining facilities drew on renewables to some extent, the average share was just 28 percent. - The process is almost the same as Bitcoin mining, except you use the scrypt algorithm instead of sha256d. There are many other alternative cryptocurrencies to choose from. SHA-2 (Secure Hash Algorithm 2) is a set of cryptographic hash functions designed by the United States National Security Agency (NSA). They are built using the Merkle–Damgård structure, from a one-way compression function itself built using the Davies–Meyer structure from a (classified) specialized block cipher.. Cryptographic hash functions are mathematical operations run on digital data ... This real time SHACoin Bitcoin Cryptopia converter will enable you to convert your amount from SHA to BTC. All prices are in real time. Binance Coin aktueller Preis ist €26.26 mit einer Marktkapitalisierung von €3,864,416,374.15 ★ Preischarts aller Kryptowährungen Bitcoin & Co. Chartübersicht SHA-256 (“Secured Hash Algorithm 256″) is the algorithm which has been chosen by the designers of the Protocol Bitcoin. It is used during the creation of the public key from the private key, but also for the realization of the process of proof of work. This algorithm has been developed by the NSA (” United States National Security Agency”) in 2001 and continues to be used by many ...
[index]          
Join Kucoin Exchange Here! https://www.kucoin.com/#/?r=1vvfH Join Binance Exchange Here! https://www.binance.com/?ref=10273661 Mine Bitcoin and other Cryptoc... BITCOIN - NE CÉDEZ PAS MAINTENANT ! HALVING, BTC A 10.000$ ET FOMO... analyse bitcoin crypto monnaie HALVING, BTC A 10.000$ ET FOMO... analyse bitcoin crypto monnaie Cryptanalyst - Analyses crypto FR BITCOIN DIRECTION 10k AVANT LA VRAIE RUPTURE ?! + ETHEREUM A LA BAISSE ?! analyse crypto monnaie fr - Duration: 19:28. Cryptanalyst - Analyses crypto FR 2,886 views 19:28 BITCOIN EN RANGO Y EL , S&P500 Y DOW JONES, CON NOTICIAS ANÁLISIS EN VIVO 7/15/20 Dru Lozano 582 watching Live now Comprar y Vender Criptomonedas con Bolivares BINANCE P2P! Ele é baseado na flutuação do mercado entre pares stables de dolares na própria Binance. ... posicionada, triangular, cambial,etc) BITCOIN/ALTCOINS - CAFE e SHA256 - Duration: 35:36. Cafe e ... Analyse approfondie du Bitcoin btc en français contre le dollar BTC/USD dans toutes les unités de temps. Analyse pour investissement long terme, trading cour... tuto binance francais - achat / vente / trading sur marge - achat crypto monnaie altcoin et bitcoin - duration: 32:57. Cryptanalyst - Analyses crypto FR 6,955 views 32:57 Analyse approfondie du Bitcoin contre le dollar BTC/USD dans toutes les unités de temps. On s'attardera surtout sur l'analyse Daily/4h/2h court terme. Daily brief bitcoin altcoin ! Inscrivez vous ... CERTIFICATION IN FUNDAMENTAL & TECHNICAL ANALYSIS Dr Vishal Saxena VSCC 178 watching Live now Magic Money: The Bitcoin Revolution Full Documentary - Duration: 55:04. ¿otra gran Gran caída en bitcoin? Realizamos el análisis técnico y el análisis diario de bitcoin - btc y las criptomonedas. #bitcoin #btc #crypto #analisisdiariobitcoin #analisistecnicobitcoin