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If you think you missed out on the internet craze then give Cryptocurrency a shot!

If You Idea You Missed Out On The Web Earnings Transformation Attempt CryptoCurrency
When the majority of people consider cryptocurrency they may too be considering puzzling currency. Really couple of individuals appear to understand what it is and for some factor everybody appears to be speaking about it as if they do. This report will ideally debunk all the elements of cryptocurrency so that by the time you're ended up reading you will have a respectable concept of what it is and what it's everything about.
You might discover that cryptocurrency is for you or you might not however a minimum of you'll have the ability to talk with a degree of certainty and understanding that others will not have.
There are lots of people who have actually currently reached millionaire status by handling cryptocurrency. Plainly there's a great deal of cash in this brand name brand-new market.
Cryptocurrency is electronic currency, brief and easy. Nevertheless, what's not so brief and basic is precisely how it comes to have worth. Check out our guide on how to sell btc to figure out how you can turn that beloved coin into cold hard cash.
Cryptocurrency is a digitized, virtual, decentralized currency produced by the application of cryptography, which, according to Merriam Webster dictionary, is the "digital encoding and decoding of info". Cryptography is the structure that makes debit cards, computer system banking and eCommerce systems possible.
Cryptocurrency isn't backed by banks; it's not backed by a federal government, however by an exceptionally complex plan of algorithms. Cryptocurrency is electrical power which is encoded into complicated strings of algorithms. What provides financial worth is their complexity and their security from hackers. The manner in which crypto currency is made is merely too hard to replicate.
Cryptocurrency remains in direct opposition to what is called fiat cash. Fiat cash is currency that gets its worth from federal government judgment or law. The dollar, the yen, and the Euro are all examples. Any currency that is specified as legal tender is fiat cash.
Unlike fiat cash, another part of what makes crypto currency important is that, like a product such as silver and gold, there's just a limited quantity of it. Just 21,000,000 of these very complicated algorithms were produced. No more, no less. It can't be changed by printing more of it, like a federal government printing more cash to pump up the system without support. Or by a bank changing a digital journal, something the Federal Reserve will advise banks to do to change for inflation.
Cryptocurrency is a method to acquire, offer, and invest that totally prevents both federal government oversight and banking systems tracking the motion of your cash. In a world economy that is destabilized, this system can end up being a steady force.
Cryptocurrency likewise offers you a good deal of privacy. Regrettably this can result in abuse by a criminal aspect utilizing crypto currency to their own ends simply as routine cash can be misused. Nevertheless, it can likewise keep the federal government from tracking your every purchase and attacking your individual privacy.
Cryptocurrency can be found in many kinds. Bitcoin was the very first and is the requirement from which all other cryptocurrencies pattern themselves. All are produced by careful alpha-numerical calculations from a complex coding tool. Some other cryptocurrencies are Litecoin, Namecoin, Peercoin, Dogecoin, and Worldcoin, among others. These are called altcoins as a generalized name. The costs of each are controlled by the supply of the particular cryptocurrency and the need that the marketplace has for that currency.
The method cryptocurrency is brought into presence is rather interesting. Unlike gold, which needs to be mined from the ground, cryptocurrency is simply an entry in a virtual journal which is saved in different computer systems all over the world. These entries need to be 'mined' utilizing mathematical algorithms. Private users or, most likely, a group of users run computational analysis to discover specific series of information, called blocks. The 'miners' discover information that produces a specific pattern to the cryptographic algorithm. At that point, it's used to the series, and they have actually discovered a block. After a comparable information series on the block compares with the algorithm, the block of information has actually been unencrypted. The miner gets a benefit of a particular quantity of cryptocurrency. As time goes on, the quantity of the benefit reduces as the cryptocurrency ends up being scarcer. Contributing to that, the intricacy of the algorithms in the look for brand-new blocks is likewise increased. Computationally, it ends up being more difficult to discover a coordinating series. Both of these circumstances come together to reduce the speed in which cryptocurrency is produced. This mimics the trouble and deficiency of mining a product like gold.
Now, anybody can be a miner. The pioneers of Bitcoin made the mining tool open source, so it's totally free to anybody. Nevertheless, the computer systems they utilize run 24 hr a day, 7 days a week. The algorithms are exceptionally intricate and the CPU is running complete tilt. Numerous users have actually specialized computer systems made particularly for mining cryptocurrency. Both the user and the specialized computer system are called miners.
Miners (the human ones) likewise keep journals of deals and serve as auditors, so that a coin isn't replicated in any method. This keeps the system from being hacked and from running amok. They're spent for this work by getting brand-new cryptocurrency weekly that they preserve their operation. They keep their cryptocurrency in specialized files on their computer systems or other individual gadgets. These files are called wallets.
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What Are Altcoins?

In 2008 the first cryptocurrency – Bitcoin – was born. From this moment the era of cryptocurrencies began. For a long time, Bitcoin was a unique digital currency. But nowadays there are many other crypto coins, commonly known as altcoins. These coins have their own blockchains, miners, and wallets.
The term itself (Altcoin) is an abbreviation for alternative coin. Bitcoin is traditionally considered the first and the main coin. All others are Bitcoin alternatives are called altcoins. They appeared in the desire of developers to improve the existing Bitcoin code and remove the following limitations and disadvantages of the BTC blockchain network:
Bitcoin has a large volume of blocks, which slowly calculate the necessary operations. The main goal was to create new algorithms in order to speed up the transaction time.
The developers of BTC encrypted the transactions well, but there was still a possibility to track the sender and the recipient. So many new altcoins use additional encryption methods (like proof of work, a combination of hashing algorithms in series and hashing algorithms in parallel and so on).
Bitcoin mining constantly becomes more complicated and each time requires the use of more and more resources to form new blocks in the blockchain. Altcoins use other types of protocols that significantly simplify the mining process and do not require special equipment.
The primary task of Bitcoin is to be a tool for settlement transactions. Altcoins have other extra functions, for example, the creation of a smart contract.
Among the other reasons for the creation of altcoins is the need for technological innovation. Each alternative coin created carries certain know-how that is able to solve specific problems. Also in today's world, cryptocurrency trading has become an integral part of the financial world, so the more altcoins options there are — the more opportunities there are for the investments. Finally, most developers need access to the blockchain technology. First of all, they are interested in a reliable data transmission system and the safe storage of important business information. To access this technology, they need to use altcoins.
The very first altcoin was Namecoin. It was created in 2011 to replace the domain name system of BTC in a decentralized way. Later in 2011 Litecoin come out and suddenly the gateways of the crypto-universe burst out with endless altcoins. Today there are thousands of alternative coins. Pretty impressive, huh?
The main problem of new altcoins is the lack of information about them. Beware of so-called scam coins. These are altcoins designed purely to make a lucre of your investments. Scam coins are dumped as soon as someone puts their money into it. So before investing in altcoins check out their functionality, learn more about the developers and broad market support.
Here the list of most popular and promising altcoins that you should pay attention to:
Ethereum is second by capitalization after BTC. It has also been second by the price rate among all crypto coins for a long time. ETH was created in 2015 as a platform for the development of smart contracts. Nowadays, the major part of ICOs is conducted on this platform.
A fork of Bitcoin, released on August 1, 2017. Unlike Bitcoin, it has a block with a size of 8 Mb.
The cryptocurrency with an additional level of encryption. It is the most popular payment method in the Darknet, which is why it is often criticized, blamed for serving criminal actions.
A platform for payment systems oriented on currency exchange operations. The Ripple protocol, developed by the company of the same name in 2012, is popular in the banking sector.
Altcoin serving the blockchain which is targeted on serving transactions in the framework of the Internet of Things.
To sum up, there are thousands of different altcoins in the crypto world. Some of them succeeded and are now at the peak of popularity. Some projects passed into oblivion. Nowadays altcoins are not just alternative coins to Bitcoin, but the next stage in the evolution of cryptocurrencies. The level of BTC domination is falling down every year and new projects with improved technological solutions and audacious concept will come to the crypto market. Their number will continue to increase and attract more investors. In the near future, we will see new applications for altcoins and new opportunities that the blockchain technology offers.
Stealthex allows you to exchange up 200+ different coins. We are sure you will find the perfect match including most popular altcoins. Check out http://stealthex.io. It’s anonymous, limitless and the support team is always ready to assist you.
Like and share this article if you find it useful. Want more interesting articles on the crypto world? Follow us on Medium, Twitter, Facebook, and Reddit to get Stealthex.io updates and the latest news about the crypto world. For all requests message us at [[email protected]](mailto:[email protected]).
submitted by Stealthex_io to CryptoCurrencies [link] [comments]

What Are Altcoins?

In 2008 the first cryptocurrency – Bitcoin – was born. From this moment the era of cryptocurrencies began. For a long time, Bitcoin was a unique digital currency. But nowadays there are many other crypto coins, commonly known as altcoins. These coins have their own blockchains, miners, and wallets.
The term itself (Altcoin) is an abbreviation for alternative coin. Bitcoin is traditionally considered the first and the main coin. All others are Bitcoin alternatives are called altcoins. They appeared in the desire of developers to improve the existing Bitcoin code and remove the following limitations and disadvantages of the BTC blockchain network:
Bitcoin has a large volume of blocks, which slowly calculate the necessary operations. The main goal was to create new algorithms in order to speed up the transaction time.
The developers of BTC encrypted the transactions well, but there was still a possibility to track the sender and the recipient. So many new altcoins use additional encryption methods (like proof of work, a combination of hashing algorithms in series and hashing algorithms in parallel and so on).
Bitcoin mining constantly becomes more complicated and each time requires the use of more and more resources to form new blocks in the blockchain. Altcoins use other types of protocols that significantly simplify the mining process and do not require special equipment.
The primary task of Bitcoin is to be a tool for settlement transactions. Altcoins have other extra functions, for example, the creation of a smart contract.
Among the other reasons for the creation of altcoins is the need for technological innovation. Each alternative coin created carries certain know-how that is able to solve specific problems. Also in today's world, cryptocurrency trading has become an integral part of the financial world, so the more altcoins options there are — the more opportunities there are for the investments. Finally, most developers need access to the blockchain technology. First of all, they are interested in a reliable data transmission system and the safe storage of important business information. To access this technology, they need to use altcoins.
The very first altcoin was Namecoin. It was created in 2011 to replace the domain name system of BTC in a decentralized way. Later in 2011 Litecoin come out and suddenly the gateways of the crypto-universe burst out with endless altcoins. Today there are thousands of alternative coins. Pretty impressive, huh?
The main problem of new altcoins is the lack of information about them. Beware of so-called scam coins. These are altcoins designed purely to make a lucre of your investments. Scam coins are dumped as soon as someone puts their money into it. So before investing in altcoins check out their functionality, learn more about the developers and broad market support.
Here the list of most popular and promising altcoins that you should pay attention to:
Ethereum is second by capitalization after BTC. It has also been second by the price rate among all crypto coins for a long time. ETH was created in 2015 as a platform for the development of smart contracts. Nowadays, the major part of ICOs is conducted on this platform.
A fork of Bitcoin, released on August 1, 2017. Unlike Bitcoin, it has a block with a size of 8 Mb.
The cryptocurrency with an additional level of encryption. It is the most popular payment method in the Darknet, which is why it is often criticized, blamed for serving criminal actions.
A platform for payment systems oriented on currency exchange operations. The Ripple protocol, developed by the company of the same name in 2012, is popular in the banking sector.
Altcoin serving the blockchain which is targeted on serving transactions in the framework of the Internet of Things.
To sum up, there are thousands of different altcoins in the crypto world. Some of them succeeded and are now at the peak of popularity. Some projects passed into oblivion. Nowadays altcoins are not just alternative coins to Bitcoin, but the next stage in the evolution of cryptocurrencies. The level of BTC domination is falling down every year and new projects with improved technological solutions and audacious concept will come to the crypto market. Their number will continue to increase and attract more investors. In the near future, we will see new applications for altcoins and new opportunities that the blockchain technology offers.
Stealthex allows you to exchange up 200+ different coins. We are sure you will find the perfect match including most popular altcoins. Check out http://stealthex.io. It’s anonymous, limitless and the support team is always ready to assist you.
Like and share this article if you find it useful. Want more interesting articles on the crypto world? Follow us on Medium, Twitter, Facebook, and Reddit to get Stealthex.io updates and the latest news about the crypto world. For all requests message us at [[email protected]](mailto:[email protected]).
submitted by Stealthex_io to u/Stealthex_io [link] [comments]

What Are Altcoins?

In 2008 the first cryptocurrency – Bitcoin – was born. From this moment the era of cryptocurrencies began. For a long time, Bitcoin was a unique digital currency. But nowadays there are many other crypto coins, commonly known as altcoins. These coins have their own blockchains, miners, and wallets.
The term itself (Altcoin) is an abbreviation for alternative coin. Bitcoin is traditionally considered the first and the main coin. All others are Bitcoin alternatives are called altcoins. They appeared in the desire of developers to improve the existing Bitcoin code and remove the following limitations and disadvantages of the BTC blockchain network:
Bitcoin has a large volume of blocks, which slowly calculate the necessary operations. The main goal was to create new algorithms in order to speed up the transaction time.
The developers of BTC encrypted the transactions well, but there was still a possibility to track the sender and the recipient. So many new altcoins use additional encryption methods (like proof of work, a combination of hashing algorithms in series and hashing algorithms in parallel and so on).
Bitcoin mining constantly becomes more complicated and each time requires the use of more and more resources to form new blocks in the blockchain. Altcoins use other types of protocols that significantly simplify the mining process and do not require special equipment.
The primary task of Bitcoin is to be a tool for settlement transactions. Altcoins have other extra functions, for example, the creation of a smart contract.
Among the other reasons for the creation of altcoins is the need for technological innovation. Each alternative coin created carries certain know-how that is able to solve specific problems. Also in today's world, cryptocurrency trading has become an integral part of the financial world, so the more altcoins options there are — the more opportunities there are for the investments. Finally, most developers need access to the blockchain technology. First of all, they are interested in a reliable data transmission system and the safe storage of important business information. To access this technology, they need to use altcoins.
The very first altcoin was Namecoin. It was created in 2011 to replace the domain name system of BTC in a decentralized way. Later in 2011 Litecoin come out and suddenly the gateways of the crypto-universe burst out with endless altcoins. Today there are thousands of alternative coins. Pretty impressive, huh?
The main problem of new altcoins is the lack of information about them. Beware of so-called scam coins. These are altcoins designed purely to make a lucre of your investments. Scam coins are dumped as soon as someone puts their money into it. So before investing in altcoins check out their functionality, learn more about the developers and broad market support.
Here the list of most popular and promising altcoins that you should pay attention to:
Ethereum is second by capitalization after BTC. It has also been second by the price rate among all crypto coins for a long time. ETH was created in 2015 as a platform for the development of smart contracts. Nowadays, the major part of ICOs is conducted on this platform.
A fork of Bitcoin, released on August 1, 2017. Unlike Bitcoin, it has a block with a size of 8 Mb.
The cryptocurrency with an additional level of encryption. It is the most popular payment method in the Darknet, which is why it is often criticized, blamed for serving criminal actions.
A platform for payment systems oriented on currency exchange operations. The Ripple protocol, developed by the company of the same name in 2012, is popular in the banking sector.
Altcoin serving the blockchain which is targeted on serving transactions in the framework of the Internet of Things.
To sum up, there are thousands of different altcoins in the crypto world. Some of them succeeded and are now at the peak of popularity. Some projects passed into oblivion. Nowadays altcoins are not just alternative coins to Bitcoin, but the next stage in the evolution of cryptocurrencies. The level of BTC domination is falling down every year and new projects with improved technological solutions and audacious concept will come to the crypto market. Their number will continue to increase and attract more investors. In the near future, we will see new applications for altcoins and new opportunities that the blockchain technology offers.
Stealthex allows you to exchange up 200+ different coins. We are sure you will find the perfect match including most popular altcoins. Check out http://stealthex.io. It’s anonymous, limitless and the support team is always ready to assist you.
Like and share this article if you find it useful. Want more interesting articles on the crypto world? Follow us on Medium, Twitter, Facebook, and Reddit to get Stealthex.io updates and the latest news about the crypto world. For all requests message us at [[email protected]](mailto:[email protected]).
submitted by Stealthex_io to altcoin_news [link] [comments]

Blocknet 2018: What to look forward to!

With 2017 coming to an end, we wanted to provide the community with some updates regarding what is on the horizon for Blocknet in 2018, but first let’s take a look at what this community has accomplished so far.
2017 was a busy year for Blocknet! With the launch of the new production chain, the Service nodes launch on mainnet, the partnership with VSA to build the Blocknet UI (as well as the UI Reveal) and the implementation of the Community Governance System, it has been a very productive year. This is what was achieved…
Blocknet in review 2017:
BitBay (BAY), Bitcoin (BTC), Bitcoin Cash (BCH), Blocknet (BLOCK), Dash (DASH), Decred (DCR), Digibyte (DGB), Dogecoin (DOGE), Dynamic (DYN), GameCredits (GAME), Faircoin (FAIR), HShare (HSR), LBRY Credits (LBC), Litecoin (LTC), Monacoin (MONA), MonetaryUnit (MUE), Namecoin (NMC), NavCoin (NAV), Particl (PART), Peercoin (PPC), PIVX (PIVX), Potcoin (POT), Qtum (QTUM), Sequence (SEQ), Stratis (STRAT), Syscoin (SYS), Vericoin (VRC), Verge (XVG), Vertcoin (VTC), ViaCoin (VIA).
Recent Developments
In addition to the above, there are some other recent developments we would like to mention:
What is on the Horizon for Blocknet in 2018?
Moving forward into 2018 there are many exciting developments to look forward to:
Note 1: Upcoming milestones are subject to change, and some require new ground be broken in crypto, and thus are to be interpreted as intents, not commitments. Development is in an agile manner and so is not to deadlines; Rather, continual progress is to be expected.
Note 2: All names are Rocketchat community handles.
A very merry Christmas and a happy and prosperous new year to the community! 2018 will be fantastic!
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[dev] 1.9 is dead, introducing 1.10

I quickly review the previous post each time I start a new one, and in that context it's slightly absurd that the last post was titled "On Course" and this one is about a drastic course change.
Before I dive into that - we have a security update coming out soon. Bitcoin's developers yesterday announced that there will be a security announcement on July 7th. The exact issue won't be detailed until then, but once it is there will of course be a Dogecoin update to match. I've taken a best-guess at which parts of Bitcoin Core 0.10.2 this involves, and have back-ported them to Dogecoin 1.8 (to become 1.8.3 when released), and once the issues are confirmed we'll do a formal release. I'll announce an alpha of that version as soon as I can (next few days I hope).
Back to the regular update, if you've been following progress in detail, you may have noticed we've been working on Dogecoin Core 1.9 for about 6 months now. If you're playing really close attention, you'd see we're about halfway done, and attempts to streamline the process have helped but still aren't reducing the developer time taken in the way we might have hoped.
Meanwhile, Litecoin and Namecoin have released their Bitcoin Core 0.10-derived clients, so what's taken us so long? Well, we made a decision early on to test each change to Bitcoin Core in turn - very thorough, but also very time consuming. Litecoin and Namecoin on the other hand opted to start with Bitcoin Core 0.10 and apply the changes to make it work for their coins, instead.
With the imminent release of Bitcoin Core 0.11 (RC2 is out now), we're having to accept that we have poured huge amounts of effort into an approach that isn't working. Instead we're forced to regretfully abandon Dogecoin Core 1.9 (the 0.10 based client) and jump directly to Dogecoin Core 1.10, based on Bitcoin Core 0.11, to catch up.
There's something we need to talk about for Dogecoin Core 1.10 (y'know, I may yet suggest we jump to 1.11 so I don't lose track of which version is which), which are the fees. Initial Dogecoin fees were set very low, and we expected that with the rising price of Dogecoin they would settle at a sensible level - they haven't. What this means is it's far too cheap to send a transaction with Doge, compared to the cost of the disk and bandwidth it uses to send it.
As a reminder, Bitcoin's fee schedule is essentially 0.0001BTC per 1kb of transaction, with some transactions allowed to be free. That works out at $0.025/kb, or 1-2 cents for most transactions. Dogecoin's feed schedule is 1 DOGE per 1kb, with a 1 DOGE minimum, plus 1 DOGE for each output below 1 DOGE. That's a lot more complex, and unnecessarily so. It also works out at around $0.0002/kb, which is very very low compared to the cost of running a mining installation.
I'll do a full post with analysis later, especially as I think cryptocurrency in general needs to reconsider how it calculates fees (as an example the number of outputs compared to inputs makes a difference to memory required to handle future transactions, which is one of the biggest costs, but completed disregarded currently). We absolutely want to ensure Dogecoin remains cheap and accessible, but we also have to ensure that we retain miners.
Lastly, on the subject of infrastructure, I've started discussion on how we might streamline the blockchain. SPV clients (which I've talked about in earlier posts) will help newbie shibes get started, but miners and large services will still need to run full nodes and the growing blockchain means their costs increase significantly over time. One option being considered is that of adding a new genesis block around the 2 millionth block (so another 18-24 months away), from which clients can start with just the minimum of information (unspent transaction outputs). There's some major technical hurdles to overcome, and this isn't a complete solution, but I do think it has the possibility to significantly improve the situation.
Ross
submitted by rnicoll to dogecoin [link] [comments]

Coin-a-Year: Nyancoin

Hello cryptocurrency lovers! Welcome to Coin-a-Year, the laziest series yet in the Coin-a-Day publishing empire. This year's coin is Nyancoin (NYAN). I originally covered Nyancoin in an article here in /cryptocurrency published January 4th, 2015.
Without (much) further ado, I'm going to include the original report next, unmodified. This is unlike my Coin-a-Week series, where I use strikeout and update in-text. Because this is going to be a longer update, I'll just make all further comments and updates below, just realize that all information below is as of January 4th, 2015 and thus is more than a year out of date as of posting now, at the end of February 2016.
Since I use horizontal rules as internal dividers in the original post, I'll use a double horizontal rule to divide the original text from this prelude and the following update.
Coin-a-Day Jan 4th
Welcome to the fourth installment of Coin-a-Day! To see convenient links to the introduction and the previous entries, please see /coinaday. Today's coin is Nyancoin (NYAN).
Summary
• ~173.6 million available currently [1]; 337 million limit [2]
• All-time high: ~0.000024 BTC on February 16, 2014 [1]
• Current price: ~3 satoshi [1]
• Current market cap: ~$1,275 [1]
• Block rate (average): 1 minute [1] [3]
• Transaction rate: ~25? / last 24 hours; estimated $3-4 [4]
• Transaction limit: 70 / second [5]
• Transaction cost: 0 for most transactions [6]
• Rich list: ??? [7]
• Exchanges: Cryptsy [8]
• Processing method: Mining [10]
• Distribution method: proof-of-work block rewards and 1% premine for "bounties, giveaways & dev support" [2] [10]
• Community: Comatose [9]
• Code/development: https://github.com/nyancoin-release/nyancoin ; there hasn't been a released code change in 10 months. The new developer has talked about some changes, but has not made a new release. He has given advice about how to keep the network running and operate the client. [10]
• Innovation or special feature: First officially licensed cryptocurrency (from Nyancat) [2]; "zombie"-coin [11]
Description / Community:
So you're probably wondering why in the world we're talking about a coin which has been declared dead and already written off. I actually first selected this coin to illustrate a "deadcoin", but the more I dug into it, the more I was amazed at the shambles I discovered. I am combining the description and community sections for this coin, because the community (or lack thereof) is the central issue for Nyancoin.
Substantially all, if not literally all, of the original infrastructure is gone. From the announcement post, the original website has expired. The nyan.cat site itself survives, but has no reference to the coin. The github repo remains, but then there was never much changed from the bitcoin/litecoin original. In fact, the COPYING file doesn't even list "Nyancoin Developers". None of the original nodes seem to be running anymore. @Nyan_Coin hasn't tweeted since July 6th. And that was just to announce posting an admittedly cute picture to facebook which makes a claim for a future which seems never to have developed. Of the original 15 pools, I think all are dead except p2pool, for which at least one node still supports NYAN. The original blockchain explorer, nyancha.in, is still running. The faucet is dead or broken. The original exchanges no longer list it (two of the three having died; SwissCEX having ended its trading as of the first of this year). And so forth.
And yet:

I'm not dead! I'm getting better!

No you're not, you'll be stone dead in a moment.
[Of course, that scene finishes with knocking out the "recovering" patient so he can be taken away...not to mention the absurdity of including Monty Python in a financial article, but moving right along.]
There is still just enough left to Nyancoin to keep it twitching, even if it is on life-support. Whether it's an individual node or whether it's a pool, there are blocks being produced at a steady rate as intended. Transactions are being processed. There is still a market. There is still a block explorer. And there is a dev. It is like a case study in the absolute minimum necessary to keep a coin alive. The most likely outcome is almost certainly a final collapse when one critical piece or another of the infrastructure goes away. And yet in the meantime, a person can own a million NYAN for $8 [12], and then move this coin quickly and easy, albeit with no particular external demand. It's like the world's most hyped testnet.
I think this case presents an interesting example of what happens to an altcoin when its initial support dries up. NYAN coin is more fortunate than some, actually, as there are some where there are no longer any nodes running it nor the original announcement thread (in fact, there was actually a second Nyancoin launched around the same time. But it died hard and its original announcement thread was deleted and at this point I would have no idea how to access it; so "Nyancoin" thus illustrates how hard a coin can die (Nyancoin 2) as well as how it can hang around despite being proclaimed dead, with far more justification behind that pronouncement than there has been for bitcoin (NYAN) ).
Footnotes
[1] http://coinmarketcap.com/currencies/nyancoin/
[2] https://bitcointalk.org/index.php?topic=402085.0 Regarding the premine, it's unclear to me where this money is now, since the original poster hasn't been active on BCT since May and the original site is down. However, given that it's only 1%, and about $25 in value right now, there seem to be more significant concerns for NYAN.
[3] http://nyancha.in/chain/Nyancoin - Nyan blockchain explorer; blocks are somewhat inconsistent but somewhere around the 1 minute average
[4] There doesn't seem to be anything automatically doing these stats, so I did visual inspection on about 1500 blocks (about one day) excluding the block generation reward (~250k/day). Most blocks are otherwise empty. I counted about 24 transactions or so scrolling through, with an outlier around 300k NYAN and another around 100k NYAN. In total, about 500k NYAN, excluding the block rewards. This is very approximately $3-4.
[5] Nyancoin is a basically unmodified, slightly out-of-date bitcoin as far as code goes, and ignoring the change in block rate and total coin supply, as well as the difficulty retarget after every block. So for purposes of estimating maximum possible transaction throughput, I start with bitcoin's estimated 7 transactions per second, and multiply by 10 for having a block on average every minute rather than every 10 minutes. In any event, this limit is not likely to be reached in the foreseeable future.
[6] Like bitcoin, transaction fees appear to be optional in Nyancoin. Unlike bitcoin, there is almost no transaction volume, and coins tend to sit for a relatively long time before being moved. So zero-fee transactions appear to be the norm from looking at a couple transactions on the block explorer.
[7] I couldn't find one. See the disclosure section of this article: your humble correspondent is likely represented in some way on a top 100 if one were to be made or if one exists, despite not holding it directly, depending on how the exchange holds it.
[8] I could not find any other exchanges still listing Nyancoin. SwissCex appears to have disabled it as of a couple days ago. Cryptsy has a notice that the NYAN/BTC market will be closing, but its NYAN/LTC market appears strong.
[9] Essentially all of the original sites, pools, faucets, etc. are dead and there has been very little to replace it. There is basically a single node, or perhaps a very few, which are running the blockchain. However, there is a developer still trying to hold things together, maxvall_dev, maxvall on BCT. He is the last hope for the NYAN.
[10] https://bitcointalk.org/index.php?topic=597877.0 This is the thread where maxvall took over as dev, and it also discusses switching to PoS, which hasn't happened as far as I know.
[11] "zombie"-coin: Not to be confused with ZMB (my god, does it ever end?). This is my term to describe a coin which is "undead": by rights it should be dead. And yet it's still walking around and acting like it's alive. What is it? What's going on? It's quite debatable whether this gives it any special value, but I find it an interesting state, and it's why this was chosen for early coverage. There are plenty of actually popular and successful coins, and we will go onto covering more normal selections; we're looking for variety rather than repetition. But I think this is an interesting example for what can go wrong, and yet in the midst of that, how little it takes for a coin to survive. In fact, it's almost like an alternate history bitcoin to me; this shows the concept that "it was run on one computer before; it can be run on one computer again" to some extent. And there are even some strange pragmatic benefits as well, like having no competition for getting a transaction into a block and thus zero transaction fees.
[12] And, in fact, the author chose to do so today, spending about 0.03 BTC for about 1 million NYAN.
Additional Reading
/nyancoins - Like NYAN: mostly dead, but not quite
http://nyan-coin.org/ - new official website
BCT thread listing nodes, xpool (p2pool), for mining information.
americanpegasus predicting in February that NYAN will hit $1; always an entertaining read
Giveaway
Instead of a challenge today, since NYAN has enough challenges, I decided I would give away 10,000 NYAN to at least the first ten people who ask for it. This still remains at my discretion, but honestly, if you really want, say, 50,000 NYAN and create four new accounts to do so, I'll probably be too amused to say no. I don't expect to get ten requests. If I get more, I'll probably still fulfill them, but as with everything else, this is left to my whim.
Donations and Disclosure
Okay, this is an important one today because of the tiny market here. I actually hold less USD value in NYAN than in BTC, DOGE, and PPC (although my value in PPC might be about equivalent actually), but I hold more of the total market in NYAN than any of those three. And I'll probably be buying more. So I have a conflict of interest in writing this article.
I am not providing financial advice and I do not make any recommendations of any sort on any matters. Make your own decisions; do your own research. Please, I do not want to hear about anyone doing anything "on my advice." I am not offering advice.
I personally hold just over 1 million NYAN on Cryptsy right now.
Perhaps it would be better if I didn't write any articles about anything I were invested inspeculating on, but I started this series for my own education to further my speculation, so unfortunately, dear reader, your needs come second to my own. tanstaafl; you get what you pay for, and I'm giving you my thoughts.
If by some strange quirk of fate you actually own NYAN and enjoyed this article and wished to donate some to me, K7Ho9HghBF6xWwS6JsepE6RAEPyAXbsQCV is mine (first non-empty account I've posted; transferred 1000 NYAN into here earlier from Cryptsy to test that the network and my wallet were actually working).
Thank you all for reading and commenting! I've already learned a lot from this process and I look forward to more!
Upcoming coins:
• January 5th: Nxt
• January 6th: Darkcoin
• January 7th: Namecoin
I'll use alphabetic labeling for footnotes in the updates to avoid any confusion with the footnotes in the original. For simplicity, unchanged items, like the 337 million limit and the 1 minute will not be mentioned, and we'll start with the summary changes.
Updates:
Summary
  • ~263.7 million NYAN currently exist [a]
  • Current price: ~7 satoshi [b]
  • Current market cap: ~$8,000 [c]
  • Transaction rate: ~185 / last 24 hours; ~3,300,000 NYAN (~$100) [d]
  • Exchanges: Cryptopia [e]
  • Community: We're not quite dead yet; in fact, I think we're getting better! [f]
  • Code/Development: I have an early draft of NYAN2, but I'm about six months past my initial goal for having it available to use. Life/work/lack of build machine/procrastination. NYAN2 will be a rebase onto a modern LTC codebase which will soft fork to fix a current vulnerability to a fork bug. For now, the network still runs on the same code that it did when I wrote the first article.
Discussion
I'm going to consider the community first, since I pointed it out as the weakness and central topic in the last one, then talk about the technical situation briefly, and then review the financial results.
The community has been excellent, if I do say so myself. We've got working infrastructure going thanks to the contributions of many Nekonauts (see [f]). Some original Nekonauts have returned or at least popped in from time to time, and new ones like myself have found Nyancoin (I would say given what I wrote in the original, I was still a skeptic of it at that point. Not that skeptics can't be Nekonauts, but I think I'd put my conversion to the cult of nyan shortly after writing that, even though I was already a nillionaire then for the heck of it.)
While I do look forward to seeing the community continue to grow in future years and consider that important, I don't think the community is our weakest point any longer; I think it's now our strongest point. I've tried to encourage the community's revival as best I could, including giving away tens of nillions in total, and lots of long rambling articles on my views on ethics and philosophy and frankly it's worked better than I would've really expected (or at least it has coincided with an effective recovery of the community). The community also helped me through at least a couple hard times personally in there as well.
The technical situation in Nyancoin is mostly unchanged but slightly improved, although with two additional known vulnerabilities. It's unchanged in that it's the same client. It's improved in that we have an active nyanchain explorer host (nyan.space), and we have a public draft of a plan for a soft forking security fix update in the near future (hopefully by the end of March (although I've slipped these deadlines before and may well miss March for release by a bit, I do think I'm inching closer now and then)).
The most serious vulnerability is to forking. This is the bug which hit Peercoin if I recall correctly. NYAN2 is intended to solve this through its soft fork from the LTC fix upstream (from the BTC fix upstream). In the meantime, we've been lucky we haven't been attacked. The tiny marketcap probably helps with not being a particularly attractive attack target. We're not exactly about to pay ransom to move faucet outputs. But that's no excuse; we want this fixed and should have it finally done "soon" (tm).
The less serious vulnerability is to a time warp attack in the difficulty function (Kimoto Gravity Well), which relates to general weaknesses it has and issues we've had with large gaps in the block chain because of spikes in the difficulty function causing it to be unprofitable and driving away most of the hash, and then low difficulty and price rise making it attractive to more hash, creating a spike and causing it again. While this is irritating, the chain still works, even if there are fits and starts at times. An important part of the reason I can get away with this is because there is at least one Nekonaut-supporting miner, CartmanSPC, who rescues us from time to time, and did so during the course of this article being written. We have a bunch of pools, but sometimes the hash just isn't there to get us unstuck when the difficulty goes high enough. Another part of the reason I consider it not an especially serious issue is because there's a workaround which works for me (classic bad developer logic): I use a large transaction fee (generally 337 NYAN, although I might have halved it after the most recent halving, I'll probably use 337 again) on my personal wallet by default. If necessary, I use a couple of them. It can make NYAN profitable to mine again despite the higher difficulty and "unstick" the chain. The difficulty function can go back down again in the next block if the gap has been long enough, so that can be enough to keep it going again for a while (although it can also get stuck again irritatingly fast at times). A fix for this will be putting in a better difficulty function for NYAN3, which will require a hard fork. This is tentatively scheduled for feature freeze around the middle of this year, coding to follow, activation sometime early 2017.
Financial has been our most disappointing performance. A graph of the 1 year performance right now on coinmarketcap looks pretty sad, showing our fall from a little over 60 satoshi down to around 7 satoshi now.
We rose too high, too fast, and I didn't stick with the safe high paying job like a sane person. Instead I hit the road, went to jail, and worked minimum wage. That doesn't sound like a sentence from a cryptocurrency financial review, does it? But the performance of NYAN since the article has been the story of my personal finances, which is the story of my life since then.
So, autobiographical coinaday interlude, trying to keep it generally to the most salient points. Well, in 2014 I had been on my way home to Minnesota from California when I was pulled over leaving Eureka, Nevada for speeding (got sloppy and went 45 approaching the 45 sign and thus technically still in the 35; bored cop seeing out-of-state plates). My vehicle reeked of weed, what with having been in Mendocino County previously with no intention of traveling out of the county much less state anytime soon but family emergency brought me back, and the end result was a citation for possession of cannabis and paraphernalia along with the speeding.
Fast forward to the beginning of 2015, I'm settled into a good software position and start looking more at cryptocurrency in my spare time. I write the coin-a-day series for a bit and then got annoyed and quit after a while when trying to do one a day on top of an actual job was too much for me (along with some annoyance over criticism; I can be rather thin-skinned at times). But I had gotten interested in Nyancoin, and started buying it up more and more with extra money I was making.
And then comes the crash. I had to stop putting as much in as I realized that where I was living and what I was working on wasn't going to work out for me and I needed to figure something else out. So, as I seem wont to do, I went on a roadtrip. I quit my job. And I went back for the court date for my citations and refused to pay, instead spending 10 days in jail rather than pay ~$1400 (I actually had the money in cash available to me if I chose to pay as a backup if I chickened out, but the judge annoyed me enough that I really preferred to be jailed instead of paying, as stupid as that sounds since I'm quite sure the judge didn't care in the least one way or another).
After that, I went back to roadtrip lifestyle for a while. It was a nice period. A lot of beautiful scenery; a lot of reading. Eventually, I busted up my car pretty badly...a couple times actually, the second time for good. Fast forwarding through the rest of the year, I worked a couple minimum wage jobs to pay bills and avoid cubicle life and kill some time until I figured out what I was going to do next. Just recently I quit as delivery boy after getting a speeding ticket (I swear, I'm not as horrible of a driver as this makes me sounds, although I have had a bad tendency to speed in the past, which I really have curbed to almost nothing; but I'm clearly not good enough) and am currently writing a Coin-a-Year article with a friend's incentive and applying to do documentation and development with the Nu project.
Okay, so what did any of that have to do with NYAN? Well, it's the mess of a life that has led to the fall of the price from 60 satoshi to 7 satoshi. If instead my life history for the time since the article had been simply "I was happily employed writing software", then I don't believe we would have dropped below 20 satoshi. It's easy to see in hindsight. If anyone can lend me a time machine, I'm sure I can get some condensed instructions which should improve performance significantly. Otherwise, just going to have more chalked up for the "character building" tally.
So, lessons learned if you are the major buy support for your coin: you need long-term reserves. Whatever you put in bids can be taken out in a moment by a dump for no apparent reason. This is particularly true if you may be quitting your cushy, high-paying job and wandering around without income for an extended period of time. Rather obvious, but hey, maybe someone else can learn from my mistakes. If I'd been bidding as cautiously as I am now from the beginning, I think the price would probably be somewhere from 10-20 satoshi now instead of around 7 satoshi.
It's especially unfortunate given that I wanted to be able to demonstrate the more consistent growth possible building a stable store of value, as opposed to the pump and dumps common in altcoins. And instead we had a pump-and-dump looking graph ourselves after I bid up higher than I was able to sustain, and a large (10+ nillion) instadump crashed the market all the way back down to 1 satoshi momentarily. We've had a few large (2+ nillion) dumps since, but nothing that large. We haven't generally had that large of bids though either.
It's hard to know when I've exhausted the supply at a price level, when it sometimes waits for a couple weeks or even more and then fills all the bids at once. But I want to maximize the minimum price paid because I think that's important for building confidence in a store of value long-term, which is one of my core goals for NYAN.
At the same time, we're still up from the lowest parts of the floor and where I found it. Since I own about 30% [g], the very cheapest supply has been taken off the market. I plan to keep on buying up "cheap NYAN" as much as I can. I've bought up to 60 satoshi before, I'll probably buy up that high this time around. I've got a token 100,000 NYAN ask at 300 satoshi; I hope never to sell lower.
Conclusions
Now I try to wrap it all together as if I saw this all coming and am the wise expert, despite having had about 90% drop in price in the last year after bidding too high. My original concept was taking the "minimum viable coin" and reviving it to a powerhouse as a textbook example in how to do it.
Part of my core concept in this is the arbitrariness of value: throughout history, humans have chosen any number of things as a store of value for the time: salt, large rocks, certain metals, disks, marked sticks, and so forth. While there has generally been a certain logic in the choice, in that there is a locally restricted supply in one way or another, and so forth, from the perspective of other centuries or cultures the choices can seem quite strange. Growing up, I was always struck by how strange the notion of salt being limited and valuable seemed in a world where people were trying to reduce intake and large amounts could be bought for trivial sums. And yet, a key nutrient necessary for life fundamentally makes more sense as being valuable than notched sticks or printed paper or a piece of plastic with some encoded information.
Humans have perpetually come up with stranger and stranger ways of storing and transferring value. Each new step, as always, comes with its own disadvantages and, frankly, has generally appeared nonsensical at best and fraudulent at worst to the status quo. Which doesn't mean that each new attempt is valuable. The gold bugs always like to point out that every fiat currency ultimately returns to its true value of zero. And the skeptics of cryptocurrency argue that all cryptocurrencies will eventually return to their true value of zero.
It's certainly possible. And it's possible the USD will hyperinflate someday. I tend to try the moderate view for a plausible guess of the future. By that type of logic, I would guess that over the course of decades, USD will in general lose value, and cryptocurrency will tend to slowly gain value. That might not seem the moderate view, but USD not losing value over decades would be truly shocking. And hyperinflation has been predicted since the USD went off the gold standard, or before. So some amount of inflation less than hyperinflation seems like the safe guess (but then, the Titanic arriving would also have seemed like the safe guess to me). And with cryptocurrency, I think it's clear by now the technology will continue to survive. So my first question is with what overall value as a market? It could go down, of course, but that seems unlikely in an already small, young market. Even if all the current crop die off and are replaced, whatever cryptocurrencies are around should be able to do better than a handful of billion in market cap in my view.
I believe that cryptocurrency has a bright future ahead of it. The best coins should ultimately survive and thrive. But I've been wrong on most of my major calls so far, like for instance when I thought BTC was over-priced around $5-$10.
I think Nyancoin can have an important role to play in the future of cryptocurrency in the years and decades to come, but it's a massively speculative long-shot. See also Nyancoin risks document. But like Linus Torvalds' autobiography, I try to keep "Just for Fun" as a core motto and principle. It's makes for a good hobby project because there will always be more to work on, with a core community motto of
TO INFINITY AND BEYOND!
Disclaimers / Sponsorship:
As I said before:
I am not providing financial advice and I do not make any recommendations of any sort on any matters. Make your own decisions; do your own research. Please, I do not want to hear about anyone doing anything "on my advice." I am not offering advice.
And I'll reiterate that I own about 30% [g] of the current supply of NYAN, which makes me by definition maximally biased.
Also, I'm not sure what's up with the address from the first post. It doesn't show up in my current wallet as a recognized address. So, anyhow, don't send there. :-) If you'd like to donate, please consider sponsoring a coin-a-day or coin-a-week article.
This is the first sponsored article. This Coin-a-Year article has been brought to you by spydud22 's generous patronage. I'd been meaning to do a Coin-a-Week article on Nyancoin for a while, but between wanting to "wait until the price recovered a bit" and general procrastination, then it seemed like it would make a good Coin-a-Year article, and then I wanted to wait until the price recovered a bit more...anyhow, so thank you spydud22, for causing me to finally do this. :-)
Footnotes
  • [a] nyan.space/chain/Nyancoin ; as of block 1091430, 263738786.71890615 NYAN outstanding. This is slightly over 50% more than the last report, which is what we would expect, since it had existed for about a year then, and has approximately annual halvings. The first year generated about 50% of total supply; the second year generated about 25% of total supply. We should expect in a year to have about 17% (one-sixth) more than we have now.
  • [b] https://www.cryptopia.co.nz/Exchange?market=NYAN_BTC ; this is the only market reflected in coinmarketcap and it is the primary one on which I trade. Cryptopia also has other base pairs which operate at significantly higher spreads (lower bids; higher asks) and have minimal volume. In the time since the last report, NYAN has traded as high as 60 satoshi (and briefly a little higher at times), but over the last almost twelve months since a peak about a year ago, the price has been generally declining overall, as a gross oversimplification of a lot of movements. This has been an effect of me not being able to keep buying as much and there being large dumps I wasn't expecting from time-to-time. Now I'm taking the approach of building large (one or more nillion (million NYAN)) bids on each price as I slowly work my way back up again in order to be able to handle possible dumps with less price shock.
  • [c] coinmarketcap.com/currencies/nyancoin/ ; as noted in [b], this only reflects the /BTC basepair on Cryptopia but that's where most of the volume is anyhow. Of course, the market is also not particularly liquid since I'm the primary buyer and have rather limited means currently.
  • [d] I haven't setup a script to count this yet, among many things on my to-do list for someday, so I went through by hand from what was the then-latest block of 1091430 on nyan.space back to 1089766 which was the first block generated less than 24 hours before. There was actually a three and a half hour block gap at that point, such that the next prior block was about 24 hours and 15 minutes before 1091430 while 1089766 was only about 20 hours and 45 minutes prior, and has a disproportionate number of transactions and value compared to a typical block (8 and ~313,000 NYAN respectively) from the build-up during the gap. But since that gap conveniently started right about at the start of the 24 hour period, doesn't really skew our results here.
Note that there are often times where the UTXO created during one transaction during the day is spent during a later transaction in the day. This can be considered the "same" Nyancoin being "spent" twice in the same day in our total. But in practice, I believe what's happening here is the faucet is breaking off small (10-50 NYAN) pieces from a larger (~40,000 NYAN) chunk, and so that pops up a bunch of times. So the total NYAN blockchain volume as counted for this topline number should not be interpreted as "NYAN spent in the day" but "NYAN moved on the chain", where the "same coin" can move many times. So it's a very easily gamed metric and not a strong / resistant metric like the market price tends to be (at least relatively speaking), but it's a fun number to calculate and provides a little bit of information.
The transaction count can also be easily inflated and certainly, for instance, having the faucet does generate transactions which are a very common transaction.
And this is also just an arbitrary 24 hour period compared to a previous arbitrary 24 hour period. Nonetheless, I do think there's clearly a bit more activity on the Nyanchain, even though the typical block is still empty and the number of transactions and volume is still tiny compared to the major cryptocurrencies.
Here's an arbitrary example of the faucet transactions Note the zero transaction fee, which I love that the miners support (the defaults are all quite low as well).
Here's an example of what may be the smallest transaction by NYAN volume of the day; but no, I followed its small, spent output, and it led to this gem which also links to this. I have no idea what's going on here, but it's hilarious and I love it. How's that for microtransaction support? :-)
  • [e] Obviously Cryptsy went down. We had had more than enough red flags with Cryptsy (including one time where I was able to withdraw 6 nillion more than I had in my balance) and got onto Cryptopia. spydud22 basically accomplished that for us, although I helped out in the tail end of the campaigning.
  • [f] Our community is still small (I wish there were literally dozens of us!) but we've had valuable activity from multiple people, including, just as highlights, vmp32k who hosts nyan.space, a clone of the original nyancha.in, jwflame who created the excellent nyancoin.info intro site, with the awesome status page (which currently notes that "the last 500 blocks actually took 111 minutes, which is approaching the speed of light, causing the universe to become unstable"), KojoSlayer who runs the faucet and dice, spydud22 who got us on Cryptopia, and many other Nekonauts have made worthy contributions, and the Nekonauts mentioned have done more than just that listed. So while we are small, we are active at least from time to time and technically capable.
Even though our posting rate is still around 1 post a day or so on average, and so still a relatively quiet subreddit (and it is our main (only?) hub), it's still a very noticeable and significant difference from how /nyancoins looked when I was reviewing it for the original piece here. Here's an attempt to approximate what was there using Reddit search ; archive.org has a snapshot on January 19th, 2015, which is well into the early revival mania and one from August 14th, 2014, before four and a half months of little to no activity. Apparently archive.org unsubscribed to /nyancoins in that interval itself...
  • [g] Maybe up to around 35% by now; maybe still around 30%. I haven't updated hodling report lately; it was 30% last time I recall, but I've bought more and more has been made since.
submitted by coinaday to CryptoCurrency [link] [comments]

Coin Vs. Token: Knowing The Difference

Coin Vs. Token: Knowing The Difference

https://preview.redd.it/vyj0g6u9o4y11.png?width=750&format=png&auto=webp&s=34ba19ace2ef9b48e6ce0beb516aa274d7305b86

Cryptocurrencies are digital currencies that are encoded (anchored) with complex cryptographic calculations, but do you know what’s the main difference between tokens and coins that everyone are talking?

What is Cryptography?

Cryptography is utilized here to anchor and verify the transfer of transactions. Cryptographic forms of money are fueled by an open ledger which records and approves all exchanges sequentially, which is known as a blockchain.

What are Coins?

Coins, for instance,Bitcoin, are a type of digital money which works freely of any other blockchain. In less complex terms, a coin is a digital currency that has its very own blockchain. The terms coin and a crypto-coin or altcoin can be utilized conversely.
Altcoins simply mean coins that speak to an option in contrast to Bitcoin. The greater part of the altcoins discovered today available are forks of Bitcoin, made by utilizing Bitcoin’s publicly released, unique platform and changing its base codes, bringing about a totally new coin with an alternate arrangement of functionalities.📷Here are a couple of precedents of altcoins; Namecoin, Peercoin, Litecoin, Dogecoin, and Auroracoin. There are different altcoins that aren’t derived from Bitcoin’s open-source convention. Or maybe, they have made their very own Blockchain and convention that underpins their local money. For instance: Ethereum, Ripple, Omni, Nxt, Waves, and Counterparty.

https://preview.redd.it/g3kgcs4do4y11.png?width=750&format=png&auto=webp&s=dffeda072a4ceff65f22436c60f9e63990389f41
However, how might you see whether a coin has its very own blockchain or not? You can enter CoinMarketCap’s site and view their whole list of coins alongside their appropriate platforms.

What are tokens?

In the world of business, the token can be defined as:
’’A unit of value that an organization creates to self-govern its business model, and empower its users to interact with its products while facilitating the distribution and sharing of rewards and benefits to all of its stakeholders.’’
The process of making new tokens is considerably less complex as you don’t need to adjust the codes from a specific convention or assemble a blockchain from ground zero. All that is required is to pursue a standard format on the blockchain – like that accessible on the platform – which empowers clients to make their own tokens.
Tokens are made using smart contracts, which are programmable computer contents which are self-executing and they require no third parties involved in order to work. A greater part of crypto Tokens is issued over an Initial Coin Offering (ICO). An ICO is comparative in concept to an Initial Public Offering (IPO) for stocks.
There are different sorts of tokens that can be classified in the accompanying classes: Security or Asset Tokens, Payment Tokens, Equity Tokens, and Utility Tokens.
Security Tokens – The tokens issued by ICOs are for the most part security tokens. Purchasing the security token is an investment in the ICO with the desire for the benefit. As per Swiss law, a similar treatment applies to them as with conventional securities.
Equity TokensAn equity token is a sort of token that speaks to some stock or value in the organization that issues it. Yet, few organizations resort to conduct such an ICO as a result of the absence of administrative direction with respect to the lawful restrictions of this sector.
Utility Tokens– Also known as application tokens, these tokens are utilized to give its holders access to either a product or service. They are additionally rare on the grounds that most tokens are relied upon to increment in cost dependent on their constrained accessibility.
Payment Tokens– The main motivation behind installment tokens is to pay for products and enterprises.

The Main Difference

Crypto coins and tokens have one noteworthy contrast, which is in their structure; altcoins are distinct currencies with their own different blockchain while tokens keep running over another blockchain which empowers the improvement of decentralized applications.

Conclusion

Computerized tokens and coins both serve indispensable jobs in the digital currency industry. While there truly is just a single key distinction between these two digital currency classes, realizing what isolated a crypto coin from a token is fundamental for understanding what is the goal of an undertaking. This specialized information can enable potential investors to figure out which ICOs are perfect venture choices.
submitted by TokenDashboard to u/TokenDashboard [link] [comments]

Cryptocurrency Market - The Biggest Trends to watch out for 2018-2025

New market research study provides an analysis and evaluation of the current and prospective profitability, liquidity and financial stability of Global Cryptocurrency Industry.
Cryptocurrency is a digital currency which operates on cryptographic techniques to complete safe transaction. Being decentralized with no governing body/central body involved in verifying transaction, secured protection and producing new currencies are projected to be the major reason for the market growth over the forecast period. Moreover, cryptocurrency’s community which include miners/stakers, developers, service providers, users etc. drive the governance of cryptocurrencies. The positive feedback loop has made the community more homogenous.
Globally, cryptocurreny has been selected as digital payment method for the future financial world. These convenient currencies are completely digital requiring online transaction unlike physical cash. Hustle free transaction and deduction in entire ownership cost are few key features propelling the industry.
Major drivers include authentication, ease of transaction, complete security, faster international transaction are expected to spur the market growth with steady performance. Moreover, the industry has not been confined with government rules, exchange rates, interest rates or international transaction fee, hence, making the currency more convenient for application.
The currencies can also be transferred digitally via devices such as smartphones, since they are completely unrestricted from any centralized bank/authorities. Vendors and consumers prefer virtual money for making payments, henceforth, creating new opportunities for the market growth.
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Tax-free & compliance-free transactions, lesser chances of identity theft & fraud and negligible fee charged for cryptocurreny transaction are few other key elements augmenting the industry growth over the forecast period. Moreover, lack of awareness among the people and stringent rules and regulations for application of robots in various countries is expected to restrain the market growth. The emerging industry is projected to grow over the forecast period with more public awareness and continuous increase of new market players with innovative product/services.
The market has been segmented into type of currency, mining types, and application. The type of currency segment includes Bitcoin, Litecoin, Ethereum, Ripple, and others. Mining type is segregated into solo and pool mining. The application segment includes banking, real estate, stock market and virtual currency. Other application for the market includes retail sector, gaming industry, education, logistics & transportation, BFSI, tourism sector, media and entertainment industry. BFSI is expected to acquire the major share followed by retail sector operating on cryptocurrencies. The cryptocurrency mining hardware includes Central Processing Unit (CPU) mining, Graphics Processing Unit (GPU) mining, Field-Program Gate Array (FPGA) mining, and Application-Specific Integrated Circuit (ASIC) mining. ASIC mining can calculate 10,000 times faster than conventional CPU mining.
Increasing acceptance and potential growth for this industry have attracted various small vendors globally for competing in the market. Apart from Bitcoin, Litcoin has also gained prominence in the market over last few years, there are plenty of vendors in the market namely as Litecoin, Namecoin, Novacoin, Peercoin, Ripple, Steller, Primecoin, Megacoin, and many others.
Geographically, the market is expended across North America (U.S., Mexico, and Canada), Europe (UK, France, Germany, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, and rest of Asia-Pacific), and MEA (Middle East, Latin America, and Africa). North America region dominates the market owing to the regulations offered by the government. Brazil and Canada are other major regions using cryptocurreny due to rules and regulations
Obtain Report Details with technological advancement at https://www.xpodenceresearch.com/Reports/Cryptocurrency-Market
Key market players include Intel Corporation, Microsoft Corporation, Xilinx, Inc., NVIDIA Corporation, 21 Inc. AlphaPoint Corporation , Amazon.com, Inc., Advanced Micro Devices, Inc, BTL Group Ltd.(Blockchain Tech), BitGo, BitFury Group , Coinbase UK, Ltd. Coinsecure, Unocoin, Coinbase, Bitstamp Ltd., Zebpay,, Poloniex Inc., Bitfury Group Limited, Global Area Holding Inc., Digital Limited, IBM Corp, are the other niche players.
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We offer the comprehensive market research solution for all the industries by performing the in-depth study of industry trends, verticals globally. We believe in building an eternal bond with our customers through providing them inclusive research study both customized and syndicated based on their specific requirements.
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submitted by mansee36 to u/mansee36 [link] [comments]

Introducing Balance Genie - A multicurrency adress balance checking Android app on the Google Play store.

Cryptocurrency moves fast. In this world of a thousand alt coins, you need to be able to see balances quickly and efficiently. Balance Genie is a great new app for instantly checking wallet balances on 7 major blockchains. No need to keep track of different sites any more. Balance Genie has you covered. Just scan the QR code from any of the supported currencies and let us do the rest and link you to that address on it's respective blockchain :)
Here are three screenshots of the app.
FEATURES:
One click and the app takes care of the rest. No longer will you have to fumble through several different blockchains – the Balance Genie has you covered! Your wish is our command! :)
Play store link: https://play.google.com/store/apps/details?id=appinventor.ai_sebelphonica.Balance_Genie
Please consider donating if you like the app here :)
NOTE: Takes upto 1-2 seconds to calculate and open the address page on the block explorer depending on how fast your internet connection is.
submitted by helix09 to dogecoin [link] [comments]

I'll give 1000 Doge to someone who writes an understandable and in-depth explanation of merged mining.

It's a pretty hot topic right now and many people are scared by the idea of merged mining, but I noticed people don't really understand what it is for the most part.
So hopefully someone who understands this stuff can write a good explanation that we can all understand. At least than we can make in informed decision.
The most important thing is that it's not merging our coins.
Here's how I understand it now;
What you do when you look for a block is solving a complicated equation with a random input number, and then checking if the result (the "hash") is the right one to find the block.
Us and Litecoin both use the same algorithm to mine our coins. This means we're both doing the same kind of calculations to find hashes.
The idea of merged mining is basically that we pool all of these hashes, and check not only if they found a Doge block, but if they found a doge or a litecoin block.
This would mean that all of the miners that our coins are now competing for can work on both networks simultaneously, our network would get a lot bigger and more stable while we still keep our own separate networks.
edit: I got linked this which is pretty useful info on namecoin merged mining;
"Merged mining works like this, you have two totally separate block chains, they are not related in any way nor does either contain any data from the other. When you mine you generate hashes that may be the solution to the current block, this is very very improbable per hash, its like a lottery where everyone generates tickets until someone finds the winning one.
Normally you make tickets and check them against the Bitcoin block chain to see if they are the solution. With merged mining you create a ticket and check it against both the Bitcoin block chain and the Namecoin block chain, Bitcoin and Namecoin know nothing about each other, they are two totally different lotteries with different winning numbers, you just sent a copy of your ticket to both. Since you are sending the same ticket to two lotteries you increase your chances of winning one or the other.
No Bitcoin data goes into Namecoin no Namecoin data into Bitcoin they remain totally separate, you simply run both the Namecoin and Bitcoin clients on the same machine and submit hashes to both networks, if your hash is the solution to the Namecoin block you get Namecoins if you hash is the solution to the Bitcoin block you get Bitcoins, its exactly like if you where mining on just one network, except you submit the same work twice."
submitted by lepthymo to dogecoin [link] [comments]

4 REASONS WHY YOU SHOULD USE BITCOIN INSTEAD ALL OTHER CRYPTOCURRENIES

You guys just started working in internet you want to choose best cryptocurrency to receive your income, you don’t know which them is good for you? Don’t worry I’ll guide you.
Ok let’s get started :
20 years ago when computers was simple and poor them performed small calculations, internet was something new for us but today with development of technology computer processors become multicore and their frequency increased now internet have millions users and you can do everything in internet among transfering money.
it’s possible by cryptocurrencies you can use either one of them but wait a second there are too many of them so which one those i should choose?
My Opinion is BITCOIN
But why?
Because of this reasons :

1. HAVE SAFE WALLET :

Bitcoin wallets are very safe compared other cryptocurrencies , you can consider security level for your bitcoin wallet like :
2 step verification
Block Tor

By activating all security options cracking it will be impossible for hackers.

2. ITS PRICE ISN’T FIXED:

Price of other cryptocurrencies like litecoin is fixed and its price is a round 30$ that haven’t any change but bitcoin price is changing.
But what that mean?
Good question, for example you buy one bitcoin its price when bought was 1,000$ you let that money remain in wallet now after a while price of that is 2,500$, that have 250% profit for you and this is so good for you.
Tip : Guys bitcoin is worth value and the money is paper that can be printed so comparison them is wrong action because they are two different things.

3. MOST WEBSITES SUPPORT BITCOIN PAYMENTS :

Most making money websites , investment companies, digital stores and … support bitcoin payment method.
because it’s trustable and safe and users perfered that but other cryptocurrencies like dogecoin,peercoin and … haven’t international support.
Peercoin for example not supported everywhere so it’s not a good option to receive your money by that or namecoin how many websites support it.

4. IT’S DEAL IN THE MOST OF EXCHANGING WEBSITES :

Bitcoin deal in everywhere and you shouldn’t worry for buy or selling it but other cryptocurrencies like coinye isn’t supported.
Guys I Hope you enjoyed.
Goodluck and have fun, peace out.
submitted by DevilH14 to btc [link] [comments]

Using the Bitcoin protocol for more than just money

I think Bitcoin is a very interesting technology, and I'm glad to see it's taking off. But at the same time, I think it could be so much more. The real interesting technology is the block chain. With a few improvements and minor modifications, it could be the basis of much more than a digital currency. Namecoin and Bitmessage are two examples of other uses for a block chain, but AFAIK each uses their own, independent chain and network. I feel like should be possible to combine them.
Please mind that I haven't studied the protocol in extreme detail and I'm not a mathematician or a cryptographer, so I might be wrong on some understandings of the details. Corrections are highly welcomed.
Please also don't just view this as another "Bitcoin protocol sux, here's how it should be done" post. That's only the first section. ;-)

Improving the protocol

Firstly, I think the biggest issue Bitcoin (and all alternatives I know of) has is overhead. The block chain is several gigabytes, and bitcoind likes to choke my network with a lot of connections and big uploads.
Maybe the growth of technology will outpace the growth of Bitcoin's resource needs, but I don't think we can rely on that. Phones have been stuck at ~16GB of internal storage for quite a while now (maybe there are some reaching 32 and 64GB, but I don't know of any), and internet service is actually making backward progress in much of the western world - slower connections and tighter caps. One of Bitcoin's goals is also to prevent being controlled by any government or central authority - but if it relies on fast network connections, that's something an oppressive government can easily restrict to choke it.
Especially for a new client, to have to download the entire block chain can be daunting. And for a mobile client, the amount of network I/O seems like far too much for the piddly data caps mobile networks have, and the block chain would quickly eat up their available storage.

Size of the block chain

My understanding is that the solution to the blockchain size issue is to create a new genesis block; essentially replace the entire chain with a single block containing a hash of all previous blocks and start chaining again from there. But as far as I know, this is something that the Bitcoin developers have to do manually with a change to the source code (which also means they have to be able to do it - what if they disappear?), and this hasn't been done yet. This new genesis block creation needs to be built into the protocol and happen automatically, so that the chain never grows too large.

Network strain

As for network issues, I don't know why Bitcoin requires so much overhead, but I believe it's from clients transmitting large portions of the block chain (sometimes the entire chain) to new clients who don't have it. I think a simple solution here would be to download small chunks from many clients instead of large chunks from a few clients. The new client still has to download all the blocks it's missing, but the sending clients don't need to upload as much, so their connections won't be as strained.

Block generation rate

One thing I've never understood is why blocks are generated at 10-minute intervals. Litecoin shortens that to 2.5 minutes, but that's still fairly long. 10 minutes might be plenty of time if you're ordering online, but if you want Bitcoin to completely replace fiat currency, it needs to be as fast as fiat currency. Nobody wants to wait 2.5 minutes (let alone 10) in the grocery store or fast food drive-thru for their transaction to go through. Cash payments can be as simple as handing over a bill, and debit payments can complete in a few seconds.
The usual suggestion for how to resolve this is to put some Bitcoin in an account, controlled by some payment processor, so that when you later want to actually buy something, you just ask the processor to transfer from your account and they can do so immediately, and the shopkeeper can trust that the transaction will go through. But isn't this just a bank? How can we be sure we can trust the payment processors to not just run off with the money (especially with no controlling authority), and to not pull the kinds of annoying things banks do (fees fees fees)? To me it seems like relying on some third party to handle your Bitcoins is no better than the existing system Bitcoin intends to replace.

Scientific value of computations

One altcoin that I really like is Primecoin. Instead of brute-forcing hashes, Primecoin's proof of work is finding prime numbers. I feel like this is a nice benefit - in addition to everything the network does, now it's also doing calculations that are useful to science, instead of calculations that exist solely to be difficult.
Of course, if someone found a much more efficient algorithm to compute prime numbers, then this protocol would break. But the same is true of the hashing Bitcoin uses. Also, most existing cryptography is based on prime numbers, so I think there'd be a lot more to worry about than just Bitcoin. (That also implies that if the difficulty of prime numbers is trustworthy enough for everything else, it's probably good enough for Bitcoin too.) In either case, the protocol can be updated to a harder algorithm (even if it means going back to calculations that aren't scientifically valuable).

Using the block chain for messages and information

Already, every client has to download every block, and look through it for transactions involving its addresses. It should be an obvious and trivial extension to allow it to store messages sent to a Bitcoin address as well. This method of exchanging messages has a few nice advantages as well:

Making Bitcoin function as a P2P file sharing network

Expanding on the above idea: who says the messages have to be text? By using a binary format (perhaps with a container such as a zip file), it would be simple to send someone a file this way as well.
Of course, once you start sending blocks containing files, the size of the block chain becomes an issue again (and the size/quantity of the blocks for a large file could push transaction fees quite high as well). I think there are various ways to resolve this.
The way that appeals to me is to do what Freenet does:
I've emphasized may here because it's important in Freenet. Since there's no guarantee which clients will save/pass along a chunk, it's difficult to tell which clients have it.
Bitcoin clients, then, would be running this sort of chunk exchange system to share files. The block chain would just keep a record of the file's existence. It would identify the chunks that belong to a particular file, and perhaps the "owner" of the file - so that just as only the owner of a coin can spend it, only the owner of a file can upload a new version of it. Clients might also periodically broadcast a public message, stating that they have (or no longer have, or know where to find) chunks X, Y and Z (which may or may not be all the chunks they have).
Of course, another way to share files would be to simply broadcast a message saying "file X can be found at ftp://blah.blah.blah/X". But this isn't really sharing files, only their locations. This method doesn't give you any of the benefits of the Freenet method, but it might be suitable if you don't care about people being able to find out that it was you, in particular, who uploaded/downloaded the file. (Peers could still randomly grab copies of the file and rehost them, perhaps in chunks, to maintain availability and mask who's actually requesting it.)
Again, it'd be possible to encrypt a file with someone's public key, or leave it in plaintext so everyone can see. What Freenet does is something along the lines of including the decryption key in the file's URI. That way the nodes who hang on to its chunks can't know their contents (which means you can't get in trouble if someone uploads something illegal and your node happens to cache it), but anyone can be given the URI, allowing them to decrypt the file.

Using the block chain as a generic record of object ownership

Already the block chain is essentially a big record of who owns what coins. More generally, it's a giant key-value store. Spending a coin is telling all your peers "I'm giving Bob ownership of my Foo", and having them agree that you're able to do that. There should be little reason it couldn't record the ownership of other things, and other messages than just transfers of ownership, such as:
TL;DR Bitcoin and its block chain technology could be not just a digital currency, but the future of decentralized networking, incorporating email, DNS, file transfer and just about anything else all in one system.
(edit: add a couple more possible uses)
submitted by RenaKunisaki to Bitcoin [link] [comments]

testing

I'm working on enabling merge mining for the Prohashing mining pool. I've spent 45 hours trying to get the dogecoin daemon to accept a merge mined block, with no success. I'm posting my progress in this post, in the hopes that someone who has experience in merge mining can figure out what is wrong. I'll tip the first person $50 in DOGE (about 180,000 DOGE at current rates) who can tell me what is wrong with what I'm doing. If there are multiple issues, then I'll split the reward amongst all the helpers.
I simplified the procedure by removing the parts of the algorithm that are irrelevant.
Here is the procedure I used:
  1. Get the latest block from the litecoin testnet and store its data in memory.
  2. Call getauxblock against the dogecoin testnet. Since this example is only going to merge mine dogecoins, we ignore "chainid" and store only "hash" in memory. "Target" is obtained by calling getblocktemplate, because we need difficulty and other things from the full template for calculating payouts. "Target" in getauxblock and in getblocktemplate are reversed, so the appropriate conversion is made.
  3. When a block is found for the litecoin testnet, check to see whether the target is less than the dogecoin testnet's target. If so, we call getauxblock again, passing the "hash" exactly as provided in step 2, without any modification, and the serialized block data as the second parameter. The help for the command states that the parameters are "getauxblock [hash] [auxpow]."
The result is that the litecoin blocks are always accepted, and the dogecoin blocks are always rejected with the following errors:
2014-10-09 02:37:45 ERROR: Aux POW merkle root incorrect 2014-10-09 02:37:45 ERROR: AUX POW is not valid 
Here is an example "auxpow" serialized block that is submitted to the dogecoin damon. I annotated it as I think is correct, but keep in mind that the annotations could be incorrect and you shouldn't assume that I have identified the correct things to insert or the correct order. In the real submission, there are no spaces or characters between the separated sections.
Litecoin coinbase transaction:
02000000010000000000000000000000000000000000000000000000000000000000000000ffffffff52034e5106062f503253482f04c93c3754fabe6d6d50868b4be2c645d5b763f8b2f137e87e48ed7154db9e7a5083a4d4582fdfbeec010000000000000008f8000006190000000c2f50726f68617368696e672f000000000100f2052a010000001976a914c7045a47e3aff57c28a728c7339150efc879555488ac000000000a50726f68617368696e67 
Double-SHA-256 hash of the litecoin block header:
0309e093c93a7560ecde4128c13371ee4778bd195a03681e57aeacd694094600 
The length of the merkle branch from the litecoin block, which is the same as the branch sent out in the stratum protocol. Because this litecoin block has no transactions, the length of the merkle branch is zero:
00 
The litecoin merkle branch, if there were one, would go here in a series of hashes. Since there are no transactions in the block other than the coinbase transaction, we append nothing here.
[There is nothing here] 
The "branch side mask" of the coinbase transaction, which is always zeroes:
00000000 
The auxiliary branch count, which is zero because we are only mining dogecoins in this example:
00 
The auxiliary branch index, which is also zero because we are only mining dogecoins:
00000000 
The block header of the litecoin block, in full:
0000000254a8f234ca1f2448ca9a85dcade4697e1496fa46a22abe8ffb0cfc604a4d11371b31c4accb59203d465c70588f1fd68eddd93e25da83101bbaa68aa02244800454373c611d02324089d3403e 
I'll also break down my understanding of what is supposed to be placed in the litecoin coinbase transaction to signify that we are merge mining dogecoins. Here is my understanding of the litecoin coinbase transaction's merge mining portion, which you can find embedded within the coinbase transaction printed above:
This string signifies that we are merge mining.
fabe6d6d 
The "hash" parameter obtained from the dogecoin daemon's getauxblock command, verbatim:
50868b4be2c645d5b763f8b2f137e87e48ed7154db9e7a5083a4d4582fdfbeec 
The following are used for when multiple merge-mined coins are being sought at the same time, but since we are only merge-mining dogecoins, this is a 4-byte 1 followed by a 4-byte 0.
0100000000000000 
Here are some of the things I tried and the references I used.
  1. https://en.bitcoin.it/wiki/Merged_mining_specification seems to be the primary source on merge mining. However, I noticed that some of the examples in the document don't work with dogecoins. For example, the "block hash" in the auxiliary proof of work that is submitted to namecoin in that document (the second field) looks like the proof of work hash for the block, since it ends in a string of zeroes. Looking at that, I tried placing the scrypt proof of work hash in that field, but it didn't work.
My understanding of the "block hash" is that when you call getblock from a daemon, you provide the double SHA-256 hash of the block header, not the scrypt proof of work hash. The "block hash" is not the scrypt proof of work hash.
  1. I tried reversing various hashes in the fields of the blocks on the theory that endianness was the problem, but 16 different permutations didn't work. I tried reversing the dogecoin auxiliary hash, the block hash, the merkle branch hashes (when there are transactions in the litecoin block, which there are not in this example), and even the block header of the litecoin block. None of these things worked. I couldn't find a permutation of reversed and non-reversed hashes that made any difference. Of course, it is possible that, since there are so many permutations, that I missed the correct one and the hashes are not in the correct endianness in the example.
  2. At http://forum.namecoin.info/viewtopic.php?f=7&t=368, there is a poster who offers advice on how to submit merge mined blocks to getauxblock, although that information is specific to namecoin. I reviewed what I was doing and it appears to be identical to what he is suggesting.
  3. After reviewing the documentation for what a merkle tree is, it took me an entire day to figure out what happens when there are an odd number of transactions in the tree. It turns out that the algorithm is to hash the nodes with themselves. Seeing this, I took the example above and I tried specifying the length of the "merkle branch" for the coinbase transaction as "01," and then provided the hash of the coinbase transaction as the only hash in the "merkle branch." The long-shot idea was that perhaps the dogecoin daemon was looking to hash the coinbase transaction with itself, and use that as the root of the tree. It still returned the same error.
  4. In the litecoin coinbase transaction, the 44-byte merge mining part (fabe + "mm") is preceded by the length (44, or 2c) in some examples, but not in others. Apparently, this length is not necessary if the merge mining string is provided within the first 20 characters of the script, so I left it out in this example. However, in previous iterations, I added an additional byte of "2c" before the merge mining portion and it did not result in any difference in this error.
  5. In these examples, I always assumed that the merkle branches are double-sha256 hashes, even for scrypt coins. All the documentation I read seems to indicate that in scrypt, the only difference is the algorithm used to verify work. From what I can tell, the rest of the block still is stored using SHA-256 hashes, as is the hash of the block headers and even the hashes of the transactions. If there is some difference between scrypt and SHA-256 in how the merge mining headers are stored, that could be a clue.
Thanks to anyone who is willing to try to point out what is wrong here. We have about 15 features ready for release and merge mining is the only one that is holding back the release. Your help is greatly appreciated.
submitted by chris_sokolowski to test [link] [comments]

Introducing Balance Genie - A multicurrency balance checking Android App available at Google Play Store

Cryptocurrency moves fast. In this world of a thousand alt coins, you need to be able to see balances quickly and efficiently. Balance Genie is a great new app for instantly checking wallet balances on 7 major blockchains. No need to keep track of different sites any more. Balance Genie has you covered. Just scan the QR code from any of the supported currencies and let us do the rest and link you to that address on it's respective blockchain :)
Here are three screenshots of the app.
FEATURES:
Supports Bitcoin, Litecoin, Dogecoin, Peercoin, Quark, Namecoin, and Reddcoin. More to be added.
Minimalist and Light.
One click Scan and Results.
FREE with no advertisements.
Secure.
One click and the app takes care of the rest. No longer will you have to fumble through several different blockchains – the Balance Genie has you covered! Your wish is our command! :)
Play store link: https://play.google.com/store/apps/details?id=appinventor.ai_sebelphonica.Balance_Genie
Please consider donating if you like the app here :)
NOTE: Takes upto 1-2 seconds to calculate and open the address page on the block explorer depending on how fast your internet connection is.
submitted by helix09 to Bitcoin [link] [comments]

Introducing Balance Genie - A multicurrency balance checking Android App available at Google Play Store

Cryptocurrency moves fast. In this world of a thousand alt coins, you need to be able to see balances quickly and efficiently. Balance Genie is a great new app for instantly checking wallet balances on 7 major blockchains. No need to keep track of different sites any more. Balance Genie has you covered. Just scan the QR code from any of the supported currencies and let us do the rest and link you to that address on it's respective blockchain :)
Here are three screenshots of the app.
FEATURES:
Supports Reddcoin, Bitcoin, Litecoin, Peercoin, Quark, Namecoin, and Dogecoin. More to be added. Minimalist and Light. One click Scan and Results FREE with no advertisements. Secure 
One click and the app takes care of the rest. No longer will you have to fumble through several different blockchains – the Balance Genie has you covered! Your wish is our command! :)
Play store link: https://play.google.com/store/apps/details?id=appinventor.ai_sebelphonica.Balance_Genie
Please consider donating if you like the app :)
NOTE: Takes upto 1-2 seconds to calculate and open the address page on the block explorer depending on how fast your internet connection is.
submitted by helix09 to reddCoin [link] [comments]

[Résumé] White paper de Ethereum

tl;dr : Même résumé, ce white-paper est vraiment énorme. Les plus faignants devraient lire uniquement Pourquoi une nouvelle chaîne ? et Les contrats. L'un décrit la philosophie générale du projet, l'autre est l'innovation la plus impressionnante.
Pourquoi une nouvelle chaîne ?
Le protocole Bitcoin est très bien pour gérer une monnaie. Quand on a voulu implémenter d'autres concepts tels que "colored coins" et "smart property" de façon décentralisée, on a d'abord essayé de le faire en s'appuyant sur la blockchain Bitcoin. C'est la meilleure façon de faire, en informatique et surtout en cryptographie que de réutiliser un maximum de composants éprouvés.
Seulement si le protocole Bitcoin est très bien pour gérer une monnaie, il n'est pas prévu pour être générique. Du coup, implémenter des choses différentes dans la blockchain peut relever du casse-tête et demander de faire des choix discutables pour tout faire fonctionner.
Ethereum propose donc une blockchain prévue pour être générique. Léger en fonctionnalité, l'accent est mit sur la souplesse du protocole. Ainsi, si au départ Ethereum ne fait pas grand chose, il évoluera avec le temps et les idées de chacun.
La blockchain Ethereum
Dans cette partie, nous verront les principales différences entre la blockchain Ethereum et la blockchain Bitcoin.
** Version modifiée de GHOST **
Dans la blockchain Bitcoin, un bloc en suit toujours un et un seul autre. Si deux blocs valides suivent le même bloc, un seul des deux sera retenu dans la chaîne officielle, l'autre sera déclaré orphelin.
Le problème de cette approche est que la puissance de calcul qui a servi à générer le bloc orphelin est purement et simplement perdue. Cela a un impact considérable lorsqu'il y a beaucoup d'orphelins. Hors augmenter la vitesse de création des blocs (un bloc toute les dix minutes pour Bitcoin) augmente le nombre de blocs orphelins, cette augmentation est donc dangereuse pour la sécurité de la chaîne.
GHOST permet de palier à ce problème de puissance de calcul perdu. Ceci en faisant en sorte qu'un bloc référence non seulement son parent, mais aussi les blocs orphelins. Ainsi les orphelins ne sont plus perdus et renforcent, par leur proof of work, la difficulté pour un attaquant de créer une chaine parallèle.
Note : une description plus détaillée de GHOST est disponible en français ici.
La version de GHOST proposée par Etherneum est très légèrement modifiée. Principalement un bloc ne peut plus référencer n'importe quel orphelin de la chaîne, mais seulement les frères de son bloc parent. Ça réduit le rattrapage d'orphelins à un seul niveau, mais ça permet d'éviter que des petits malins s'amusent à miner des orphelins à côté du Genesis bloc là où la difficulté est moindre.
Avec ça l'intervalle entre les blocs sera de 60 secondes et la sécurité devrait être comparable à celle de Litecoin qui propose des blocs espacés de 2 minutes 30.
** La monnaie du réseau **
La monnaie du réseau sera l'ether. Son nom n'est pas le même que celui du protocole pour éviter les confusions comparables à celles qui existent entre le bitcoin (unité de compte) et le Bitcoin (protocole). Toujours pour éviter les polémiques qui remplissent le forum, les sous-unité de l'ether sont déjà nommées (ou presque) 1 ether = 1 000 finney = 1 000 000 szabo = ... = 1 000 000 000 000 000 000 wei. Les noms compris dans le "..." ne sont pas encore définits.
Cette monnaie reste sommaire. Il n'y a pas d'histoire de double signatures, de transactions dans le futur,... Toutes ces choses-là pourront être implémentées dans les contrats que nous verrons plus bas. L'utilité première de cette monnaie est de pouvoir payer les frais de transaction et servir de récompense pour les mineurs assurant la sécurité du réseau.
Dans Bitcoin, il n'y a pas de notion directe de solde à une adresse. Les transactions génèrent des "sorties" qui peuvent être utilisées pour créer de nouvelles transactions. Le solde d'une adresse est donc la somme de la valeur des sorties non dépensées associées à une adresse. Ethereum élimine ce concept que personne ne comprend. Ethereum tient à jour une association "adresse = solde" pour toutes les adresses qui ont plus de zéro ether.
D'un point de vue financier, le projet Ethereum sera crowdfundé (euh... il y a un verbe équivalent en français ?). Ce n'est pas technique comme information, mais ça à son importance pour la répartition des premiers ether. En effet, les investisseurs et le projet lui-même se partageront une somme initiale en ether. Ensuite les mineurs prendront le relais comme créateurs de valeur. Les blocs généreront toujours la même quantité d'ether, ayant deux effets. Premier effet, la valeur initiale acquise par les investisseurs va s'amenuiser peu à peu, il n'y a pas de nombre maximum d'ether jamais créé. L'inflation sera tout de même réduite au fil du temps, si produire 50 pièces quand il y a 50 pièces en circulation crée une inflation de 100%, produire 50 pièces sur 5000 pièces en circulation crée une inflation d'1%.
** Algorithme de Minage **
Bitcoin utilise des hash sha256 pour son proof of work. Demandant au mineur de trouver une valeur d'un champ libre de son bloc telle que le hash du bloc soit suffisamment prêt de zéro. Ce qui est "suffisamment" prêt est réglé par la difficulté. Cette façon de faire pose un problème : les ASIC. Ces machines qui coûtent un bras et rendent n'importe quelle carte graphique as-been on une vilaine tendance à concentrer la puissance de calcul dans les bras des plus riches. Et une puissance de calcul concentrée est mauvaise pour la sécurité.
Une autre façon de faire est d'utiliser Scrypt à la place de sha256 comme algorithme de hash. Scrypt est plus gourmand en mémoire, rendant les ASIC moins efficace comparés aux systèmes généralistes. Seulement Scrypt ne demande que 128 kilo octets de mémoire et les fabricants d'ASIC commencent à arriver à trouver des designs qui valent le coup. On ne peux pas simplement augmenter la mémoire consommée par Scrypt, car c'est une lame a double tranchant. Il faut beaucoup de mémoire pour calculer le proof of work, mais il en faut autant pour vérifier le proof of work. Demander a tous les noeuds du réseau de disposer autant de mémoire qu'un laptop moderne pourrait faire sauter beaucoup de raspberry-pi.
Pour pallier aux problèmes de Scrypt, Ethereum utilisera un autre algorithme de minage (pas basé sur du brute forçage de hash) nommé Dagger qui devrait prendre 100 Mega octets de mémoire pour générer le proof of work, mais seulement 100 Kilo octets pour le vérifier.
** Transactions **
Une transaction contient l'adresse du receveur, le nombre d'ether transférée, des données arbitraires et une signature. L'adresse de l'expéditeur peut-être déterminée depuis la signature.
La partie la plus intéressante c'est la présence de données arbitraires. On peut y metre ce qu'on veut (si j'ai bien compris). Le protocole définit son utilisation pour créer les contrats... Que nous verrons très vite.
Une autre chose à noter, il n'y a aucun moyen de préciser les frais de transactions. Ceux-ci sont déduit automatiquement et la transaction ne sera valide que si l'adresse source a assez de fond pour payer la valeur et les frais. Les frais de transactions auront le droit a leur propre paragraphe.
Les contrats
Les contrats sont des agents virtuels dans le réseau. Ils ont une adresse avec laquelle ils peuvent emmètre et recevoir des ether, un programme qui est activé quand le contrat reçoit une transaction, un espace mémoire volatile pour faire ses calculs (une espèce de mémoire vive) et un espace mémoire persistant pour y stocker des données entre deux activations.
Le programme est écrit dans un langage spécifique, étudié pour les spécificités d'Ethereum. Ce langage est Turing-complet, c'est-à-dire qu'il dispose d'une entrée, d'une sortie et permet de résoudre à peu près n'importe quel problème. Ses entrées sont principalement les fameuses données arbitraires des transactions qu'il reçoit et sa sortie est l'espace mémoire persistant. En plus de ça, le langage permet d'envoyer des transactions et d'inspecter la blockchain.
Pour illustrer ce que les contrats peuvent faire, dans le white-paper vous pourrez trouver plein d'exemples d'implémentations simplistes de problèmes courrants. Il y a une monnaie alternative, un produit dérivé financier, une émulation de Namecoin (pas simpliste, vraiment minimaliste) et plein d'autres embryons d'idées.
Pour créer un contrat, on doit envoyer une transaction sans adresse de destination, contenant le code du programme. L'adresse du contrat est déterminée à partir du hash de la transaction qui l'a créé. C'est à cette adresse qu'il faut envoyer des transactions quand on veut activer le programme.
Les frais de transaction
Dans Bitcoin les frais de transaction sont optionnels, au pire la transaction est rejetée ou délayée longtemps. Dans Ethereum, autoriser de ne pas mettre de frais de transaction serait infaisable. Les agents exécutent des programmes Turing-complet, si un de ces programmes faisait une boucle infini gratuitement, il mettrait a genoux le réseau en un rien de temps.
Bilan, des frais de transaction en dur et non-négociables. Il y a des frais différents pour à peu prêt tout, de l'envoie d'une transaction a l'exécution d'une ligne de code par un agent. Pour que ces frais s'ajustent avec le temps ils se basent sur un frai de base qui change en fonction de la difficulté. Plus la difficulté est grande, plus le frai de base est petit. Ainsi, si le court (en bourse) de l'ether augmente, les mineurs sont incités à ajouter plus de puissance de calcul et les frais diminuent pour compenser l'augmentation de la valeur de l'ether. Au contraire si le court diminue et que des mineurs se retirent, les frais augmentent puisque l'ether à moins de valeur.
Quelques références :
Elles sont toutes en anglais.
submitted by JeanBono to BitcoinFrance [link] [comments]

Introducing Balance Genie - A multicurrency balance checking Android App available at Google Play Store

Cryptocurrency moves fast. In this world of a thousand alt coins, you need to be able to see balances quickly and efficiently. Balance Genie is a great new app for instantly checking wallet balances on 7 major blockchains. No need to keep track of different sites any more. Balance Genie has you covered. Just scan the QR code from any of the supported currencies and let us do the rest and link you to that address on it's respective blockchain :)
Here are three screenshots of the app.
FEATURES:
Supports Litecoin, Bitcoin, Dogecoin, Peercoin, Quark, Namecoin, and Reddcoin. More to be added. Minimalist and Light. One click Scan and Results FREE with no advertisements. Secure 
One click and the app takes care of the rest. No longer will you have to fumble through several different blockchains – the Balance Genie has you covered! Your wish is our command! :)
Play store link: https://play.google.com/store/apps/details?id=appinventor.ai_sebelphonica.Balance_Genie
Please consider donating if you like the app :)
NOTE: Takes upto 1-2 seconds to calculate and open the address page on the block explorer depending on how fast your internet connection is.
submitted by helix09 to litecoin [link] [comments]

[Table] IamA Owner of a Bitcoin Accepting Subway in Allentown, PA (Sapan Shah) AMA!

Verified? (This bot cannot verify AMAs just yet)
Date: 2013-12-02
Link to submission (Has self-text)
Questions Answers
How has your staff taken to accepting bitcoins? Do the number of decimal places freak out the staff? Do you have a minimum purchase requirement for use of bitcoin? My employees are simply awesome. They have dealt with all of this with a smile on their faces and have actually shown a lot of interest.
They don't have to deal with decimals because I have set it up so all they have to do is input the total dollar amount into a tablet at the register. The app automatically generates the code that the customer scans. It pops up on the screen when they receive the payment.
We don't have a minimum purchase requirement.
Hi. How many bitcoin customers have you had so far? Are you a bitcoin investor as well? I can not disclose exact sale figures or numbers, however I can say it has steadily been growing. We have a couple bitcoin paying customers almost every day.
I am indeed a bitcoin investor myself.
How many times a week does someone ask you what a Bitcoin is? 4 Zillion.
Plain and simple.
I thought bitcoins were worth about 1K each. How would it work if I forked over a bitcoin for a Footlong Tuna Fish sandwich? We calculate the total sale amount (i.e. $10.53) and convert that to the equivalent Bitcoin value (roughly 10.09 mBTC or .01009 BTC). We generate a QR code with an address and the amount. The customer scans that code and sends us instant payment.
You can take a look at preev.com to see what I mean.
Don't sell yourself short, 10.09 milli would be .01009. roughly 10.09 mBTC or .001009 BTC. Would be $1.13. You are correct- I changed it..thank you :)
Do you immediately sell the bitcoins for cash to take away the currency risk or are you keeping the bitcoins in your account? This has been one of the most complicated parts of the process. Since I started accepting Bitcoins, I have switched my Merchant Services Processor 3 times. I am actually looking for a longer term solution. Until I find a more permanent solution that is fully integrated with our bank account, our Bitcoins are remaining as is.
Since this has been relatively new we are still working out all the kinks in the process. I am not worried about the currency risk at all.
How have you been keeping records of sales? I'm planning to accept Bitcoin but am unsure how to do so legally as a business. So you convert to USD and simply keep record of those earnings? Link to en.bitcoin.it
I thought it took like an hour to confirm a bitcoin transaction. I remember reading that it was too slow for most consumer transactions like this. Am I completely misinformed? In our case, we have not had a payment take longer than 2-3 seconds. The merchant services take care of everything on the back end. A transaction has never taken us 1 hour to process.
Would you be able to pay an employee in BTC if they desired? There are no Bitcoin Payroll Services to my knowledge. I'm not sure how feasible this would be.
Is your store a franchise? - what do you do if the value of bitcoin drops? Does the company you go through for scanning take care of that? - what company do you use? - what kind of training did you give your employees? - if i wanted to start getting my local business owners in on this, what do you recommend i show them? Subway is indeed a franchise. We are currently using Coinbase to process our payments and I have personally walked all of my employees through the process.
I have found this page to be the most helpful if you want to show other small business owners: Link to en.bitcoin.it
It was most helpful for me.
Was really excited to see the fact that more brick and mortar stores are accepting bitcoin, of course even more so when it was a more well known chain store (compared to a mom and pop place) Has the news coverage about this given you more business from local bitcoin users? Whats you're current process for accepting bitcoins (how do you go handle payments, exchanges and such)? I hope more businesses will begin accepting Bitcoin!
Ever heard of Coinkite? and if so would you consider using them as a way to accept bitcoins (and Litecoins?) *They're like a wallet service with a credit-card esque terminal where you get a bitcoin debit card and can make payments through that (or the traditional way of QR Codes works too) I did consider Coinkite. They were very nice and responsive, just not the right match for us at this time.
How can I persuade other Subway Owners to accept Bitcoin at their stores? This is a very good question. I think it is entirely up to the owner if they want to start accepting it or not. There is definitely a learning curve involved along with some risk and doubt.
A good start would be educating them about what a Bitcoin is. Even if you ultimately can't persuade them, at least you have taught one more person about Bitcoin.
The second thing maybe to show them some articles or videos about me accepting it. Tell them I have been accepting it for over a month. If they see another franchisee accepting it, they may be more willing to try it out.
Many may be deterred by the initial costs involved. Perhaps eliminating those costs would help to convince many to come on board. You could also try telling them it is non-binding, they don't have to sign a contract and there is no catch. Print out a sign and set it up for them. Tell them to try it out for a week and if they don't like it- ...nevermind, I doubt that will happen.
Can you write a little FAQ for Subway patrons to convince owners in their area to accept bitcoin? Would love a little list of hardware, software, which accounts to create with which companies, etc. Most of the equipment used in Subway's are fairly standard. I have a Nexus 7 next to my register with the POS app on there. They would just need to tweak some settings on the POS.
If you draft up some questions I might be able to help you out with an FAQ
I'm most curious about the things that would encourage or discourage a small business owner who is less knowledgeable/enthusiastic about bitcoin from accepting them. I've thought for a while that there is a need for somebody to create a well-executed, hard to screw-up, system for small businesses to accept bitcoins for in-person transactions. As far as I can tell, nothing like that exists on the market today, and most businesses accepting BTC are mostly rolling their own solution, at a high cost in time for whoever is managing it. Would you buy such a system, if it was available? I set up most of my system by myself. It took a little bit of technical knowledge (and interest). There are people available that can come in and set everything up, I just wanted to keep it simple and easy. I doubt other business owners would want to pay start up costs in addition to take the risk of accepting a new form of tender.
About how much time a week do you spend dealing with Bitcoin processing related issues? What was your worst week? What are the biggest pain points in accepting bitcoins right now? Training staff, integrating with existing POS systems, getting reliable conversions back to USD, something else? I don't spend too much time dealing with Bitcoin Processing related issues too much. They go fairly smoothly.
I'm from Plymouth Meeting, which is really close to Allentown! I think this is awesome, I should come buy something with Bitcoins sometime. Also, what was the most difficult part about integrating Bitcoins into your store? There have been so many challenges from the start. I think the biggest one has been trying to explain to everyone what a Bitcoin is. For example, in order to train my employees, they needed to fundamentally understand what a Bitcoin was. I had to explain it over and over again answering the same doubtful questions.
We would love to have you at our store!
Hey, you run the Subway by Dorney Park? Wow, I used to live right near there, worked at St Luke's in Bethlehem. Nostalgia. Not related to BitCoin, but what do you think of Allentown and LV in general? How long have you been there? Where are you originally from? Yep, Subway Dorneyville. I was born and brought up in Allentown!
Do you have any BTC for yourself? Also, what do you think about altcoins such as Litecoin, Namecoin, ect. I do have BTC myself. I do not have any plans to start accepting any Alt. currency at my store. I think they are very interesting and we may see many more in the future.
Hey there Sapan, I'm located in easton and I was just wondering which subway it is that you run so that I can possibly stop by and say hello?! Absolutely! Link to local.subway.com
I spend a lot of time in Allentown. Where is your store located? I'd love to stop by and buy some subway with bitcoins. Link to local.subway.com
Allentown resident here. Which Subway? Link to local.subway.com
Hey, I go to Lehigh. I'm literally in the building across the street from you. I was also your 2nd bitcoin customer. If I happen to see you, I'll say hi. Do say hi if you see me. I'm always there.
No questions, but thank you from the Dorney Park team for making lunch for us on many occasions! You guys are Awesome. Can't wait till everyone comes back in the Spring.
You're a very smart man according to the fever going on in bitcoin. Thank you, I'm not that smart. Just a man with a Sub...and a Bitcoin.
According to them, you are going to be a millionaire by accepting bitcoin right now. According to me. They all are probably millionaires. I've gotten to meet some of them in my store. Great group of people. on bitcoin.
Last updated: 2013-12-07 04:31 UTC
This post was generated by a robot! Send all complaints to epsy.
submitted by tabledresser to tabled [link] [comments]

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