How to Create and Use an Offline Bitcoin Wallet aka Cold ...

Is there a tutorial for dummies how to do this? FWIW: you could have spent a few bucks on the cheapest possible notebook and create an airgapped offline electrum there, import your mnemonic, create a watch only wallet for your online device and safely sign the transactions from your offli /r/Bitcoin

Is there a tutorial for dummies how to do this? FWIW: you could have spent a few bucks on the cheapest possible notebook and create an airgapped offline electrum there, import your mnemonic, create a watch only wallet for your online device and safely sign the transactions from your offli /Bitcoin submitted by ABitcoinAllBot to BitcoinAll [link] [comments]

Is offline wallet truly the best way to safely for hodl-ing my funds? Can someone give me some tips or advice, preferably video or text tutorial as well alternatives to how to freeze my bitcoin until a future day comes¿ I'd quite appreaciate it, thanks.

Is offline wallet truly the best way to safely for hodl-ing my funds? Can someone give me some tips or advice, preferably video or text tutorial as well alternatives to how to freeze my bitcoin until a future day comes¿ I'd quite appreaciate it, thanks. submitted by lacertasomnium to Bitcoin [link] [comments]

Is offline wallet truly the best way to safely for hodl-ing my funds? Can someone give me some tips or advice, preferably video or text tutorial as well alternatives to how to freeze my bitcoin until a future day comes I'd quite appreaciate it, thanks.

Is offline wallet truly the best way to safely for hodl-ing my funds? Can someone give me some tips or advice, preferably video or text tutorial as well alternatives to how to freeze my bitcoin until a future day comes I'd quite appreaciate it, thanks. submitted by BitcoinAllBot to BitcoinAll [link] [comments]

How to Make a Bitcoin Paper Wallet (Offline Cold Storage) Basic & Advanced Tutorial

How to Make a Bitcoin Paper Wallet (Offline Cold Storage) Basic & Advanced Tutorial submitted by CoinHashco to Bitcoin [link] [comments]

Creating a Bitcoin Paper Wallet Online (Offline Tutorial Coming in the Near Future)

Creating a Bitcoin Paper Wallet Online (Offline Tutorial Coming in the Near Future) submitted by DynamicDK to Bitcoin [link] [comments]

[Tutorial] Bitcoin Offline Paper Wallet Generator Demo - Bitcoin Forum

submitted by bitcoinforum to Bitcoinforum [link] [comments]

Happy Halloween! Audit Statuses of Canadian Cryptocurrency Exchanges

Halloween is a wonderful time of year!
Businesses and consumers alike dress up, children go door to door naively asking strangers for candy, and everyone parties celebrating things like death and evil.
In the spirit of Halloween storytelling, let me tell you a scary story.
There once was a Canadian cryptocurrency exchange. It had one of the simplest user interfaces, the CEO was well known in person and trusted throughout the country for over half a decade, and it had several deposit and withdrawal methods. It was the first to register as a money services business and for much of its history, it was one of the most legally compliant exchanges. It even looked to be headed for public listing on the TSX. The exchange operated for 6 years, assuring users that all funds “are stored in cold storage, using some of the most secure cryptographic procedures possible.” Unfortunately, while we celebrate Halloween by dressing up and wearing masks once a year, the wonderful people who brought us this exchange played “dress up” for over half a decade and time will only tell if there are any more “masks” to come off in this story.
There’s no better or more fitting time to explore one of the darkest realities of the Canadian cryptocurrency space - exactly what is backing any of the cryptocurrency on Canadian exchanges. It’s easy to lose sight that there are real people behind these funds. Most people spend most waking hours working for their money. It literally is their lives. Impacts to victims are not just financial, but psychological and social as well. Victims of exchange fraud go through depression, anxiety, and trauma. They lose their trust and faith in humanity. They withdraw from friends and family in shame and humility.
In the spirit of exploring dark and evil things, let’s examine exactly what evidence there is that any of your crypto is backed on any Canadian exchange. This is a continuation of research I’ve been working on since May/June. I hope it will be enlightening and help you better protect your funds that you worked hard for.

I’ve done a detailed analysis of all Canadian exchanges I could find that handle any sort of custody of funds, and grouped them into 3 categories:

Non-Audited Exchanges (“trust us, we haven't spent your money, we promise")

Bitvo - The service “utilizes a proprietary cold storage solution”. Proprietary, as in, definitely better than established non-proprietary solutions. If you can’t withdraw, they “will credit your account for [their] withdrawal fee”. They’re not an MSB that I could find, nor are they audited.
Coinfield - MSB. No audit. Luckily it’s the "most secure trading platform in Canada" - though apparently not the other 150+ countries, including Estonia where they’re based. No matter which country you pick, the “Security” page still says "most secure trading platform in Canada".
Coinsmart - MSB. Not sure what "[i]ndustry leading cold storage" is, but luckily they’re so "accountable to [their] clients, community and to each other" and "committed to being open and honest" that they don’t need any audit.
Coinut - MSB. Also "the most secure cryptocurrency exchange platform". In addition to not using multi-sig and "not us[ing] USB drives, as the online computer may be infected with virus", they also don’t use audits.
Einstein - You can get “your money deposited and withdrawn faster than any other exchange”. As one customer said "With so many hacks and exit scams, it gives me confidence knowing Einstein is backed by hard-working people just like me." Just check the user experience on their subreddit from their "220,000+ satisfied customers".
EZ-BTC - As they said, “All your coins are kept in cold storage. They’re safe.” They have “strong security”. The supposed presence of physical ATMs was one of the strategies to build customer confidence and they promised 9% annual return on stored funds.
NDAX - MSB. Luckily also “Canada’s most secure trading platform” with "fast withdrawals". I couldn’t find any audit but at least there’s a full page risk disclosure and disclaimer. You can sleep peacefully knowing that they’re legally protected.
Netcoins - MSB. The best assurance I could find of solvency is that they “can process large transactions”. Although they don’t waste time with audits or links at the bottom of their website, apparently “[a]ll transactions happen quickly and securely” “within the same day”.
Newton - MSB. “No-fees”! Your funds are stored in the "professional custody" of Balance, which doesn’t appear to be a registered MSB. I couldn't find any audit of the funds but they "audit [their] policies and controls". They "publish the reports", but I couldn't find any reports. Simply storing funds somewhere else doesn’t give any assurance they cover customer balances.
QuadrigaCX - Operated since 2013, with “vast cryptocurrency reserves” right up to the end. "Bitcoins that are funded in QuadrigaCX are stored in cold storage, using some of the most secure cryptographic procedures possible." Their "cryptographic" procedures are so secure that nobody can access any funds, even now!
Shakepay - MSB. Many will trust the raccoon mascot promising “commission-free” trading. No audit found but the “majority of all digital assets on Shakepay are stored securely offline”. Whatever this means, it’s good to know that up to half might not be.

Audited Exchanges ("so and so swears we didn't spend your money, you can trust them, we showed them once before")

Bitbuy - MSB
Coinberry - MSB
Coinsquare - MSB
Kraken - Not a registered MSB in Canada (that I could find)

Proof of Reserves ("here's your money, right here right now on the blockchain, and here's a proof that we included your balance in that total")

Rather than depend on outdated audits (or lack thereof), it’s actually possible to use the blockchain and cryptography to enable a public real-time audit. This can give assurance to every customer that their balances are fully backed. Giving everyone the ability to check the integrity of balances will keep us all safer. It immediately exposes any fraud, and in most major hacking cases there was advanced hacking that went unnoticed ranging from months (Bitgrail), or years (Mt. Gox). Having an aware public reduces the number of people trading on fraudulent exchanges, and can pressure the exchange to shut down trading or resolve the hack faster, so less funds are permanently lost.
To help explain exactly what this is and how it works, I’ve started a detailed tutorial. I did not come up with this algorithm - it was created in 2014 by a guy named Gregory Maxwell. Sometimes cryptography can be hard to understand. Hopefully this tutorial is simple:

< < Take Our Proof of Reserves Tutorial > >


Given what can often be at stake, I had hoped that maybe one of the “audited” exchanges might embrace Proof of Reserves. Sadly I haven’t had any such luck.
Bitbuy:
Coinberry:
Kraken:
As such, the bottom line is that present exchanges don’t want to share public keys and offer the kind of transparency which is necessary to enable customers to know their funds are backed. Attempting to get answers doesn’t reveal them, and I’m left with an unnerving silence not unlike the end of Halloween night, like I’m asking questions nobody should ask.

Having spent the last 8 months of my life watching and being part of a large group of people suffer through a grueling bankruptcy, where we’ll be “lucky” to only lose 90% of our funds, I want this fixed. I don’t want to live in a reality where fraud can happen just buying/selling on the largest and most trusted exchanges. Especially now that I’ve learned blockchain provides the capability for even greater transparency and a level of public audit far beyond even what's possible with fiat.
If you feel the same way, I invite you to join Quadriga Initiative, where we are fighting for a Proof of Reserves future and also enabling businesses to help Quadriga victims with an innovative token recovery project. Every sign-up helps us reach our goal and launch the project!

If any information in this post is incorrect, please let me know so I can fix it! Thanks! I’m happy to update the audit status of any exchange given reasonable evidence, or provide a review of any other custodial exchange I might have missed.
submitted by azoundria2 to QuadrigaInitiative [link] [comments]

Kin Community FAQ, Guidelines, & Ecosystem Directory

Kin Community FAQ, Guidelines, & Ecosystem Directory
Kin FAQ
  1. What is Kin?
  2. Where can I earn & spend Kin?
  3. Where can I buy Kin?
  4. Where can I store Kin?
  5. Why is the total supply so large?
  6. Why isn't Kin on [xyz] exchange? When will it be?
  7. Is there any update on [Y] announcement? Can you speak on [insert rumor here]? When will we be able to do [Z]?
  8. How can I contact the developers / support staff of [insert app name here]?
  9. How can I contact the Kin Foundation?
  10. How can I track transactions on the Kin blockchain?
  11. I still have ERC-20 based Kin (on the Ethereum blockchain), how can I migrate?
  12. I heard the SEC is suing Kik, is that true? What does it mean for Kin?
  13. How was Kin distributed at launch and how does it enter circulation?
  14. I want to integrate Kin into my software project. How do I get started? Where is the developer community?
  15. How can I keep up with the latest developments in Kin?
1 - What is Kin?
Kin is money for the digital world. It can be earned and spent across an entire ecosystem of applications, thanks to the blockchain. If you don’t know what that means, don’t worry; you don’t have to. Kin is designed to be accessible by a broad mainstream audience- computer science degree not required. By bringing together developers and users of all kinds to build in a shared new digital economy, we can create a more fair playing field; one in which the developers and content creators that build these virtual realities are rewarded based on their contributions, not harvested for their personal data and attention against their will. If you’d like to learn more about Kin, here are some resources to get you started:
· Kin Website: https://www.kin.org/
· Kin Whitepaper: https://www.kin.org/static/files/Kin_Whitepaper_V1_English.pdf
· The Vision for Kin: https://medium.com/kinblog/the-vision-for-kin-6ee048a3a979
· Announcement of Kin: https://www.youtube.com/watch?v=5le2n230oTk
· Introduction to Kin (by u/kyzermf): https://medium.com/hackernoon/introduction-to-kin-universal-virtual-currency-for-apps-ea6464225ffc
2 - Where can I earn & spend Kin?
Kin is going live in a growing number of apps. To see which ones, you can check out the Ecosystem Directory below, or keep up with some of these resources:
· via Kin Website: https://www.kin.org/kin-apps/
· Apps with Kin (by u/Neliss31) https://appswithkin.com/index.php
· Kin Appz (by u/hepays) https://www.kinappz.com/
3 - Where can I buy Kin?
In addition to the ecosystem of apps available to earn Kin, you can also purchase it in larger amounts. It is currently available for purchase on cryptocurrency exchanges listed here:
· CoinMarketCap Exchanges List for Kin https://coinmarketcap.com/currencies/kin/#markets
Note that these are independent organizations and therefore only they can provide guarantees on customer service and experience, please do your due diligence in navigating and utilizing these exchanges. Also note that cryptocurrencies are inherently volatile, trade at your own risk. Kin is money for the digital world, not a stablecoin.
4 - Where can I store Kin?
While using Kin inside of apps, make sure to create a backup of your wallet when possible. It is not recommended that you store large amounts of Kin in your user wallets, and instead seek out a more robust solution. There are lots of subtle differences to the kinds of wallets and how to use them, including trade-offs in security vs convenience. Make sure to do your research and be careful when handling your hard-earned Kin:
Offline (“Cold”) Storage:
· My Kin Wallet https://www.mykinwallet.org/
· Guide: Creating A Paper Wallet for Storing Your Kin Safely Offline (by u/TheRealChaseEB) https://www.reddit.com/KinFoundation/comments/bylk0creating_a_paper_wallet_for_storing_your_kin/
Hardware Wallets:
· Ledger Hardware Wallets (works with My Kin Wallet) https://www.ledger.com/
Software Wallets:
· Trust Wallet (Mobile) https://trustwallet.com/
· Atomic Wallet (Mobile & Desktop) https://atomicwallet.io/
· Guarda Wallet (Mobile & Desktop) https://guarda.co/
· Magnum Wallet (Web) https://magnumwallet.co/
5 - Why is the total supply so large?
Kin is meant to be transacted by a large number of users in manageable denominations, just like physical money.
6 - Why isn’t Kin on [xyz] exchange? When will it be?
A healthy market for developers and users is essential to all stakeholders who want to build a vibrant economy around Kin as a currency. That said, a number of blockers have prevented further listings from happening; for example we needed to first have a unified & functional product and underlying technology before pursuing secondary markets. In addition to this there has been regulatory uncertainty surrounding the listing of digital assets in the United States including Kin specifically, especially since the filing of a misleading legal complaint by the US SEC. Due to this, the Kin Foundation is pressing on in other markets on behalf of the ecosystem to try and facilitate more platforms for everyone to buy & use Kin in their different ways. We do not know when Kin will be listed on exchanges, and anyone who does cannot say due to legal and security agreements.
7 - Is there any update on [Y] announcement? Can you speak on [insert rumor here]? When will we be able to do [Z]?
While we believe in maintaining the utmost transparency wherever possible, we will typically announce things as they are ready and report on progress as it becomes pertinent, as to not create unfounded hype and adhere to internal strategies. While it might be tempting to seek constant updates, please remember that answering questions takes time, and everyone is busy working hard to actually build the things we are all excited to see. We will do our best to keep everyone updated on the things they care about. We do not comment on rumors and we may be constricted in our ability to communicate at any given moment on ongoing internal affairs that may fall within certain legal or strategic confines.
8 - How can I contact the developers / support of [insert app name here]?
Please refer to the Kin Ecosystem directory below.
9 - How can I contact the Kin Foundation?
You can email us at [[email protected]](mailto:[email protected]) , or if you’d like to DM a specific representative or discuss something in an open setting you can also reach out to us and the community here.
Here are some relevant contacts that represent Kin Foundation,Kin Tel Aviv, & Kin San Francisco in the community:
Community u/benji5656
Communications u/kevin_from_kin
Developer Experience (Kin.org, Kin SDK, and Kin Developer Program) u/therealchaseeb
Blockchain (Core infrastructure of the Kin Blockchain) u/gadi_sr
Ecosystem (High touch integrations with mature developers) u/rinatbogin
KRE (The incentive protocol that drives the growth of the ecosystem) u/oradwe
UX Research u/YonatanDub
Kin San Francisco u/matty_hibs
10 - How can I track transactions on the Kin blockchain?
Here are some resources for monitoring the blockchain:
· via Kin Website https://www.kin.org/blockchainExplorer
· Kin Explorer (by u/Chancity) https://v2.kinexplorer.com/explorer
· Kin Bubbles (by u/kidwonder) https://kin-bubbles.herokuapp.com/
· Kin Transaction Visualizer (by u/sednax) http://bitcoin.interaqt.nl/kin.html
11 - I still have ERC-20 based Kin (on the Ethereum blockchain), how can I migrate?
Follow the directions laid out here: https://www.kin.org/migration/
12 - I heard the SEC is suing Kik, is that true? What does it mean for the Kin Foundation?
It’s true. After cooperating with an investigation and multiple attempts to reach an amicable settlement, the SEC filed a disparaging and mischaracterized complaint against Kik for not registering the initial sale of Kin as a security offering. Kik is fighting back. They are in a unique position to take on this case, however, unlike the initial Wells Notice, the Kin Ecosystem Foundation is not named in the complaint.
As noted by the Blockchain Association:
When we look at the Kik investigation, we can tell from the Wells Notice that the SEC originally looked at both Kik Interactive and the Kin Foundation. However, when the complaint was issued, it only focused on the offering of Kin in the September 2017 token sale, not Kin in the ecosystem today. The fact that the SEC investigated the Kin Foundation, but decided not to pursue a complaint is good news for developers, platforms, and others in the ecosystem who use these tokens because it separates the question of the token sale from the activities in the ecosystem since then. ("What the SEC-Kik complaint didn’t cover — and why this is good news for the crypto community")
As the legal battle rages on, the foundation will help Kik to amplify their defense as they correct the record publicly; but also focus on the development of the ecosystem which will continue beyond the SEC battle regardless. Expect ongoing updates as the fight continues to unfold publicly.
**Update**: - Kik has put together DefendCrypto, a fund dedicated to legal initiatives that benefit the cryptocurrency industry, so that companies that don't have the same resources can stand up against unfair regulation in fights of their own. Visit DefendCrypto.org to learn more and join the fight to defend innovation and participation in the cryptocurrency industry in the United States.
- Kik Answers SEC Complaint: https://www.prnewswire.com/news-releases/kik-answers-sec-complaint-300897681.html?tc=portal_CAP Kik has filed and published a 130 page, paragraph-by-paragraph refutation of the SEC's allegations.
- Additional Resources: Interview w/ Eileen Lyon, General Counsel and Chief Compliance Officer at Kik https://medium.com/kinblog/kin-foundation-asks-interview-w-eileen-lyon-general-counsel-and-chief-compliance-officer-at-kik-bbcf3b7a6961
13 - How was Kin distributed at launch and how does it enter circulation?
The Kin Foundation sold 1 trillion (10% of total supply) in a token distribution event in September 2017 that was split between a pre-sale (487.80 billion sold) and a public sale (512.20 billion sold). Half of the tokens sold during the pre-sale (244 billion) are subject to a one-year lock-up period. Kik received 3 trillion tokens (30% of total supply), which vested at a rate of 300 billion tokens quarterly for 10 quarters, and the Kin Foundation received 6 trillion (60% of total supply). The Kin Foundation tokens will be distributed through the Kin Rewards Engine, which divides the allocation between network participants and marketing and operational costs for the Kin Foundation (6 trillion Kin has been split into 4.5 trillion for network participants, and 1.5 trillion for marketing and other operational costs of the Kin foundation). Kin Foundation tokens for network participants are schedule to be distributed to the network at a rate of 20% of the remaining balance per year.
To learn more about and follow along with Kin allocation, check out Kin's page below, which was published in the spirit of transparency and disclosure in collaboration with Messari:
https://messari.io/asset/kin
14 - I want to integrate Kin into my software project. How do I get started? Where is the developer community?
Check out these developer resources!
Website: https://www.kin.org/developers
Documentation: https://docs.kin.org/intro
Android Tutorial Series: https://medium.com/kinblog/kin-android-development-tutorial-part-i-introduction-to-kin-83b21834a27e
Unity Tutorial Series: https://medium.com/kinblog/building-a-kin-powered-app-with-unity-cf8deef56bdb
Developer Communities: Kin Foundation Developer Forums: https://kindevforum.kin.org/ Kin Foundation Developer Discord: https://discordapp.com/invite/JavjKSx
Implementing Kin in PHP, Ruby, Javascript, Go, and 51+ Other Languages (by u/sednax): https://medium.com/@luc.hendriks/implement-kin-in-php-javascript-ruby-go-and-51-other-programming-languages-c7ae616de700
15 - How can I keep up with the latest developments in Kin?
Sign up for the Kin Newsletter here: https://ecopartners.kin.org/newsletter_signup
This subreddit also serves as a civil space for community to share and discuss developments.
Forum Rules & Guidelines
Purpose of the Forum
The KinFoundation subreddit is the public square for discussion and collaboration across the Kin ecosystem. It is important that we embrace the potential of the forum and foster a space where developers do not censor themselves, the curious are free to ask questions without shame, and holders are willing to collaborate on initiatives and discuss ongoing developments. For that reason, we have decided to broaden the discussion while also pinpointing fair and transparent moderation guidelines that will allow for a productive and healthy environment. This subreddit exists for the purpose of maintaining insight on what’s happening with the Kin Ecosystem, acting as a social gathering for its many participants, and mobilizing the community for things like collaborative initiatives, product feedback for developers, idea-sharing, and more.
Moderation Principles
· Transparency
All moderation actions should be guided by the principles laid out in this document and in the spirit of creating a productive and healthy environment for discussion & collaboration, although it is also understood to be iterative and subject to change.
· Objectivity
All moderation actions should be guided by a rules & practices-based approach, not one of personal judgment.
· Fairness
All moderation actions should be even-handed and based on agreeable principles that enable free but also fruitful discussion.
Code of Conduct
To participate in the public square, you must adhere to certain rules of conduct, which were created with the maintenance of productivity & civility in mind. Please review & refer to the rules here before and when posting:https://www.reddit.com/KinFoundation/about/rules/
Kin Ecosystem Directory
The Kin Ecosystem is a growing collective of independent teams, all aligned through a common incentive to build a more fair digital world. These teams build the tools, the infrastructure, and the apps that drive the reach and impact of Kin. As we continue to grow as an ecosystem, we want to make sure that the directory is maintained so that it can be a tool for everyone to use and contribute to. If you don’t see your app listed or want something changed, feel free to DM me or post here and tag me so that it can be updated. Some apps may be missing due to incomplete or inaccurate available details.
Organization -- Website -- Support / Contact--
· Bettapoint Website: https://bettapoint.com/ Contact: https://bettapoint.com/contact
· Castle Rush AR Website: https://www.darkvoodoostudios.com/castlerushar.html Contact: [[email protected]](mailto:[email protected]) (email)
· Catpurse Website: https://twitter.com/CatPurse1 Contact: [[email protected]](mailto:[email protected]) (email)
· Find (Find Travelers) Website: https://www.findtravelers.com/ Contact: [[email protected]](mailto:[email protected]) (email)
· FistBump.io Website: https://virtualbotgames.wixsite.com/fistbump Contact: [[email protected]](mailto:[email protected]) (email)
· imgvue Website: https://imgvue.com/ Contact: Contact Form
· Just Joking Website: https://kinloops.com/ Contact: See Website
· Kard Website: https://kinkard.org/ Contact: [[email protected]](mailto:[email protected]) (email)
· Kik Website: https://www.kik.com Contact: https://help.kik.com/hc/en-us
· Kimeo Website:https://kimeoapp.com/ Contact:[[email protected]](mailto:[email protected]) (email)
· Kinetik Website:https://www.kinetik.app/ Contact:[[email protected]](mailto:[email protected])
· KinFit Website:https://www.mykinfit.com/ Contact:[[email protected]](mailto:[email protected]) (email)
· Kin Foundation Website: https://www.Kin.org Contact: https://www.reddit.com/Kinfoundation
· Kinguist Website: Contact: [[email protected]](mailto:[email protected]) (email)
· Kinit Website:https://www.kinitapp.com/ Contact: [[email protected]](mailto:[email protected]) (email)
· Kinny Website: https://kinny.io/ Contact: [[email protected]](mailto:[email protected]) (email)
· Love & Loud Radio Website: https://www.loveandloudmusic.com/loveandloudradio Contact: [[email protected]](mailto:[email protected])
· Madlipz Website:https://www.madlipz.com/ Contact:https://www.madlipz.com/contact
· Matchmaker Website: Contact: [[email protected]](mailto:[email protected]) (email)
· MonkingMe Website: https://www.monkingme.com/ Contact: [[email protected]](mailto:[email protected]) (email)
· Nearby Website: https://www.wnmlive.com/ Contact: https://help.wnmlive.com/hc/en-us
· Pause For Website:https://pausefor.us/ Contact: [[email protected]](mailto:[email protected]) (email)
· PeerBet Website:https://peerbet.io/ Contact: [[email protected]](mailto:[email protected]) (email)
· Perfect365 Website: https://perfect365.com/ Contact: [[email protected]](mailto:[email protected]) (email)
· Photo Mail Joy Website: Contact:[[email protected]](mailto:[email protected]) (email)
· Planets Nu Website: https://planets.nu/#/home Contact:[[email protected]](mailto:[email protected]) (email)
· pop.in Website: https://pop.in/getapp Contact: [[email protected]](mailto:[email protected]) (email)
· Rave Website: https://rave.io/ Contact: https://rave.io/contact.html
· rentmole Website: https://rentmole.com/ Contact: [[email protected]](mailto:[email protected]) (email)
· Rentomania Website: http://rentomania.online/ Contact: [[email protected]](mailto:[email protected]) (email)
· RPS (Rock Paper Scissors) Website: http://www.rps.ack.ee/ Contact: [[email protected]](mailto:[email protected]) (email)
· Simple Transfer Website: https://www.kinlabs.ca/ Contact: [[email protected]](mailto:[email protected]) (email)
· Speed Genius Website: https://kinloops.com/ Contact: See website
· Step & Spend Website: Contact: [[email protected]](mailto:[email protected]) (email)
· Subti Website: https://vblago.github.io/ Contact: [[email protected]](mailto:[email protected]) (email)
· Subway Scooter Website: https://virtualbotgames.wixsite.com/fistbump Contact: [[email protected]](mailto:virtu[email protected]) (email)
· Swelly Website: https://www.swelly.ai/ Contact: https://www.swelly.ai/#contact
· Sxlve Website: Contact:[[email protected]](mailto:[email protected]) (email)
· Syngli Website: https://www.syngli.com/ Contact: [[email protected]](mailto:[email protected]) (email)
· Tapatalk Website: https://www.tapatalk.com/ Contact: https://www.tapatalk.com/support
· ThisThat Website: https://www.thisthatapp.com/ Contact:
· Tiny Ted Website: https://www.kinlabs.ca/ Contact: [[email protected]](mailto:[email protected]) (email)
· Tippic Website: Contact: [[email protected]](mailto:[email protected]) (email)
· Trivia Clan Website: Contact: [[email protected]](mailto:[email protected]) (email)
· Trymoi Website: Contact: [[email protected]](mailto:[email protected]) (email)
· Uwe Website: https://www.uwe.ng/ Contact: [[email protected]](mailto:[email protected]) (email)
· Vent Website: https://www.vent.co/ Contact: [[email protected]](mailto:[email protected]) (email)
· Wicrypt Website: https://wicrypt.com/ Contact: [[email protected]](mailto:[email protected]) (email)
submitted by Kevin_from_Kin to KinFoundation [link] [comments]

⚡ Lightning Network Megathread ⚡

Last updated 2018-01-29
This post is a collaboration with the Bitcoin community to create a one-stop source for Lightning Network information.
There are still questions in the FAQ that are unanswered, if you know the answer and can provide a source please do so!

⚡What is the Lightning Network? ⚡

Explanations:

Image Explanations:

Specifications / White Papers

Videos

Lightning Network Experts on Reddit

  • starkbot - (Elizabeth Stark - Lightning Labs)
  • roasbeef - (Olaoluwa Osuntokun - Lightning Labs)
  • stile65 - (Alex Akselrod - Lightning Labs)
  • cfromknecht - (Conner Fromknecht - Lightning Labs)
  • RustyReddit - (Rusty Russell - Blockstream)
  • cdecker - (Christian Decker - Blockstream)
  • Dryja - (Tadge Dryja - Digital Currency Initiative)
  • josephpoon - (Joseph Poon)
  • fdrn - (Fabrice Drouin - ACINQ )
  • pmpadiou - (Pierre-Marie Padiou - ACINQ)

Lightning Network Experts on Twitter

  • @starkness - (Elizabeth Stark - Lightning Labs)
  • @roasbeef - (Olaoluwa Osuntokun - Lightning Labs)
  • @stile65 - (Alex Akselrod - Lightning Labs)
  • @bitconner - (Conner Fromknecht - Lightning Labs)
  • @johanth - (Johan Halseth - Lightning Labs)
  • @bvu - (Bryan Vu - Lightning Labs)
  • @rusty_twit - (Rusty Russell - Blockstream)
  • @snyke - (Christian Decker - Blockstream)
  • @JackMallers - (Jack Mallers - Zap)
  • @tdryja - (Tadge Dryja - Digital Currency Initiative)
  • @jcp - (Joseph Poon)
  • @alexbosworth - (Alex Bosworth - yalls.org)

Medium Posts

Learning Resources

Books

Desktop Interfaces

Web Interfaces

Tutorials and resources

Lightning on Testnet

Lightning Wallets

Place a testnet transaction

Altcoin Trading using Lightning

  • ZigZag - Disclaimer You must trust ZigZag to send to Target Address

Lightning on Mainnet

Warning - Testing should be done on Testnet

Atomic Swaps

Developer Documentation and Resources

Lightning implementations

  • LND - Lightning Network Daemon (Golang)
  • eclair - A Scala implementation of the Lightning Network (Scala)
  • c-lightning - A Lightning Network implementation in C
  • lit - Lightning Network node software (Golang)
  • lightning-onion - Onion Routed Micropayments for the Lightning Network (Golang)
  • lightning-integration - Lightning Integration Testing Framework
  • ptarmigan - C++ BOLT-Compliant Lightning Network Implementation [Incomplete]

Libraries

Lightning Network Visualizers/Explorers

Testnet

Mainnet

Payment Processors

  • BTCPay - Next stable version will include Lightning Network

Community

Slack

IRC

Slack Channel

Discord Channel

Miscellaneous

⚡ Lightning FAQs ⚡

If you can answer please PM me and include source if possible. Feel free to help keep these answers up to date and as brief but correct as possible
Is Lightning Bitcoin?
Yes. You pick a peer and after some setup, create a bitcoin transaction to fund the lightning channel; it’ll then take another transaction to close it and release your funds. You and your peer always hold a bitcoin transaction to get your funds whenever you want: just broadcast to the blockchain like normal. In other words, you and your peer create a shared account, and then use Lightning to securely negotiate who gets how much from that shared account, without waiting for the bitcoin blockchain.
Is the Lightning Network open source?
Yes, Lightning is open source. Anyone can review the code (in the same way as the bitcoin code)
Who owns and controls the Lightning Network?
Similar to the bitcoin network, no one will ever own or control the Lightning Network. The code is open source and free for anyone to download and review. Anyone can run a node and be part of the network.
I’ve heard that Lightning transactions are happening “off-chain”…Does that mean that my bitcoin will be removed from the blockchain?
No, your bitcoin will never leave the blockchain. Instead your bitcoin will be held in a multi-signature address as long as your channel stays open. When the channel is closed; the final transaction will be added to the blockchain. “Off-chain” is not a perfect term, but it is used due to the fact that the transfer of ownership is no longer reflected on the blockchain until the channel is closed.
Do I need a constant connection to run a lightning node?
Not necessarily,
Example: A and B have a channel. 1 BTC each. A sends B 0.5 BTC. B sends back 0.25 BTC. Balance should be A = 0.75, B = 1.25. If A gets disconnected, B can publish the first Tx where the balance was A = 0.5 and B = 1.5. If the node B does in fact attempt to cheat by publishing an old state (such as the A=0.5 and B=1.5 state), this cheat can then be detected on-chain and used to steal the cheaters funds, i.e., A can see the closing transaction, notice it's an old one and grab all funds in the channel (A=2, B=0). The time that A has in order to react to the cheating counterparty is given by the CheckLockTimeVerify (CLTV) in the cheating transaction, which is adjustable. So if A foresees that it'll be able to check in about once every 24 hours it'll require that the CLTV is at least that large, if it's once a week then that's fine too. You definitely do not need to be online and watching the chain 24/7, just make sure to check in once in a while before the CLTV expires. Alternatively you can outsource the watch duties, in order to keep the CLTV timeouts low. This can be achieved both with trusted third parties or untrusted ones (watchtowers). In the case of a unilateral close, e.g., you just go offline and never come back, the other endpoint will have to wait for that timeout to expire to get its funds back. So peers might not accept channels with extremely high CLTV timeouts. -- Source
What Are Lightning’s Advantages?
Tiny payments are possible: since fees are proportional to the payment amount, you can pay a fraction of a cent; accounting is even done in thousandths of a satoshi. Payments are settled instantly: the money is sent in the time it takes to cross the network to your destination and back, typically a fraction of a second.
Does Lightning require Segregated Witness?
Yes, but not in theory. You could make a poorer lightning network without it, which has higher risks when establishing channels (you might have to wait a month if things go wrong!), has limited channel lifetime, longer minimum payment expiry times on each hop, is less efficient and has less robust outsourcing. The entire spec as written today assumes segregated witness, as it solves all these problems.
Can I Send Funds From Lightning to a Normal Bitcoin Address?
No, for now. For the first version of the protocol, if you wanted to send a normal bitcoin transaction using your channel, you have to close it, send the funds, then reopen the channel (3 transactions). In future versions, you and your peer would agree to spend out of your lightning channel funds just like a normal bitcoin payment, allowing you to use your lightning wallet like a normal bitcoin wallet.
Can I Make Money Running a Lightning Node?
Not really. Anyone can set up a node, and so it’s a race to the bottom on fees. In practice, we may see the network use a nominal fee and not change very much, which only provides an incremental incentive to route on a node you’re going to use yourself, and not enough to run one merely for fees. Having clients use criteria other than fees (e.g. randomness, diversity) in route selection will also help this.
What is the release date for Lightning on Mainnet?
Lightning is already being tested on the Mainnet Twitter Link but as for a specific date, Jameson Lopp says it best
Would there be any KYC/AML issues with certain nodes?
Nope, because there is no custody ever involved. It's just like forwarding packets. -- Source
What is the delay time for the recipient of a transaction receiving confirmation?
Furthermore, the Lightning Network scales not with the transaction throughput of the underlying blockchain, but with modern data processing and latency limits - payments can be made nearly as quickly as packets can be sent. -- Source
How does the lightning network prevent centralization?
Bitcoin Stack Exchange Answer
What are Channel Factories and how do they work?
Bitcoin Stack Exchange Answer
How does the Lightning network work in simple terms?
Bitcoin Stack Exchange Answer
How are paths found in Lightning Network?
Bitcoin Stack Exchange Answer
How would the lightning network work between exchanges?
Each exchange will get to decide and need to implement the software into their system, but some ideas have been outlined here: Google Doc - Lightning Exchanges
Note that by virtue of the usual benefits of cost-less, instantaneous transactions, lightning will make arbitrage between exchanges much more efficient and thus lead to consistent pricing across exchange that adopt it. -- Source
How do lightning nodes find other lightning nodes?
Stack Exchange Answer
Does every user need to store the state of the complete Lightning Network?
According to Rusty's calculations we should be able to store 1 million nodes in about 100 MB, so that should work even for mobile phones. Beyond that we have some proposals ready to lighten the load on endpoints, but we'll cross that bridge when we get there. -- Source
Would I need to download the complete state every time I open the App and make a payment?
No you'd remember the information from the last time you started the app and only sync the differences. This is not yet implemented, but it shouldn't be too hard to get a preliminary protocol working if that turns out to be a problem. -- Source
What needs to happen for the Lightning Network to be deployed and what can I do as a user to help?
Lightning is based on participants in the network running lightning node software that enables them to interact with other nodes. This does not require being a full bitcoin node, but you will have to run "lnd", "eclair", or one of the other node softwares listed above.
All lightning wallets have node software integrated into them, because that is necessary to create payment channels and conduct payments on the network, but you can also intentionally run lnd or similar for public benefit - e.g. you can hold open payment channels or channels with higher volume, than you need for your own transactions. You would be compensated in modest fees by those who transact across your node with multi-hop payments. -- Source
Is there anyway for someone who isn't a developer to meaningfully contribute?
Sure, you can help write up educational material. You can learn and read more about the tech at http://dev.lightning.community/resources. You can test the various desktop and mobile apps out there (Lightning Desktop, Zap, Eclair apps). -- Source
Do I need to be a miner to be a Lightning Network node?
No -- Source
Do I need to run a full Bitcoin node to run a lightning node?
lit doesn't depend on having your own full node -- it automatically connects to full nodes on the network. -- Source
LND uses a light client mode, so it doesn't require a full node. The name of the light client it uses is called neutrino
How does the lightning network stop "Cheating" (Someone broadcasting an old transaction)?
Upon opening a channel, the two endpoints first agree on a reserve value, below which the channel balance may not drop. This is to make sure that both endpoints always have some skin in the game as rustyreddit puts it :-)
For a cheat to become worth it, the opponent has to be absolutely sure that you cannot retaliate against him during the timeout. So he has to make sure you never ever get network connectivity during that time. Having someone else also watching for channel closures and notifying you, or releasing a canned retaliation, makes this even harder for the attacker. This is because if he misjudged you being truly offline you can retaliate by grabbing all of its funds. Spotty connections, DDoS, and similar will not provide the attacker the necessary guarantees to make cheating worthwhile. Any form of uncertainty about your online status acts as a deterrent to the other endpoint. -- Source
How many times would someone need to open and close their lightning channels?
You typically want to have more than one channel open at any given time for redundancy's sake. And we imagine open and close will probably be automated for the most part. In fact we already have a feature in LND called autopilot that can automatically open channels for a user.
Frequency will depend whether the funds are needed on-chain or more useful on LN. -- Source
Will the lightning network reduce BTC Liquidity due to "locking-up" funds in channels?
Stack Exchange Answer
Can the Lightning Network work on any other cryptocurrency? How?
Stack Exchange Answer
When setting up a Lightning Network Node are fees set for the entire node, or each channel when opened?
You don't really set up a "node" in the sense that anyone with more than one channel can automatically be a node and route payments. Fees on LN can be set by the node, and can change dynamically on the network. -- Source
Can Lightning routing fees be changed dynamically, without closing channels?
Yes but it has to be implemented in the Lightning software being used. -- Source
How can you make sure that there will be routes with large enough balances to handle transactions?
You won't have to do anything. With autopilot enabled, it'll automatically open and close channels based on the availability of the network. -- Source
How does the Lightning Network stop flooding nodes (DDoS) with micro transactions? Is this even an issue?
Stack Exchange Answer

Unanswered Questions

How do on-chain fees work when opening and closing channels? Who pays the fee?
How does the Lightning Network work for mobile users?
What are the best practices for securing a lightning node?
What is a lightning "hub"?
How does lightning handle cross chain (Atomic) swaps?

Special Thanks and Notes

  • Many links found from awesome-lightning-network github
  • Everyone who submitted a question or concern!
  • I'm continuing to format for an easier Mobile experience!
submitted by codedaway to Bitcoin [link] [comments]

FAQ & Daily General Discussion - January 3th, 2018

FAQ below, daily discussion in the comments! /RaiTrade for all price and trading related posts
Welcome!
As only 2 stickied threads are possible, we have decided to combine the "Are you new here" and the daily discussion thread. XRB is attracting more and more people, both veterans and newbies in the cryptoworld. As XRB is quite a bit different than other coins/blockchains, it's normal that a lot of users have (the same) questions. So please, before making a new thread, read this post first and use the search bar! Threads that are created which contain a question to which an answer is available here, will be locked and directed to this post.
 
Guidelines for posting in this thread:
 
Questions, debates, meta issues, etc are all welcome. Breaking news should be posted separately from this thread. Rules:
 
Be respectful to one another. Follow the golden rule. No trolling or shilling.
 
Guidelines for posting new threads:
 
Is your thread something that does not fit in the daily thread or in another 'general' thread? Do you have a question, and it's not in the list below? Do you have exiting news to post? Did you use the search bar first? Good, go ahead :-)
 
The Whitepaper: In logical order, we start with the whitepaper. It contains the complete details about RaiBlocks, including some more technical details. Even if you're not technical, take a quick look at it. It will explain a lot! https://raiblocks.net/media/RaiBlocks_Whitepaper__English.pdf
 
The FAQs: Now the technical FAQs, a document explaining how it works, how it compares to other coins, ... https://raiblocks.net/media/RaiBlocks_FAQ.pdf
 
Let's keep a decent overview of other, more practical questions :-)
 
Guide to set up your wallet https://www.reddit.com/RaiBlocks/comments/7bw77e/how_to_setup_your_desktop_wallet/
 
How do I buy or store XRB? Check out these guides: https://www.reddit.com/RaiBlocks/comments/7i0co0/the_definitive_guide_to_buying_and_storing/ https://www.reddit.com/RaiBlocks/comments/7iv89b/how_to_buy_xrb_without_waiting_for_a_transaction/
 
My desktop wallet isn't syncing! Do the numbers between the brackets still move? Good. The numbers before the parentheses are the number of blocks the wallet has verified, the numbers between parentheses is the amount of downloaded-but-not-yet-verified blocks. Is the wallet unlocked? Good, it needs to be unlocked to be able to sync. Still nothing? Go to 'accounts' - 'use account'. Still nothing? Close the wallet, reopen it.
 
What is a representative? Ah, so you haven't read the whitepaper haven't you... When conflicting blocks arise, a vote will have to be cast on which block to accept. Since you won't be online 24/7, you can outsource your voting power to a representative, who are online 24/7. They cannot access your funds, and you can change it anytime.
 
What is the incentive to run a node? Apart from helping the network and making it more secure, this user gives a detailed answer: https://www.reddit.com/CryptoCurrency/comments/7j4xgt/i_just_sent_1000xrb_from_one_wallet_to_anothedr4l587/
 
My transaction isn't visible in my wallet or it says 'not pocketed' on the block explorer! Is your wallet fully synced? Yes? Good, it needs to be completely synced before it will show your balances. Nothing? Go to "https://raiblocks.net/account/index.php?acc=ADDRESS HERE". Do you see the transaction there (as 'not pocketed')? Good, that means that it's just a matter of showing it in your wallet, the coins are linked to your address already. In your wallet, go to 'Accounts' - 'Use account', 'Back', 'Advanced' - 'Search for receivables'. Did it work? Good. If not, go to 'Advanced' - 'Account explorer', hit refresh. Still nothing? Close/kill the wallet and reopen it. Still nothing? Go to 'Advanced' and change the unit from Mxrb to xrb and back to Mxrb. Stillll nothing? Fine, make a thread!
 
The syncing is sooo slow!! On HDD, it can take a couple days for it to sync. Why? Every block is only 400bytes in size, they all need to be written on your HDD. SSD takes about 12h. Check the bottom of this post for a shortcut if you use HDD (or SSD and have no patience :-) ).
 
My withdrawal from BitGrail/Mercatox isn't working!! BitGrail and Mercatox are having quite some issues, both due to a bug in their RaiBlocks node, and because of being overwelmed. They have to do each withdrawal manually. Log a ticket and have patience! Mercatox support: https://mercatox.com/support BitGrail support: to be added when they're back
 
We need a new exchange & website & ...!! Indeed, large exchange would be super!. But before that, we need a new website, mobile wallets, ... Those are in the make. Don't ask about the new exchanges, no one knows!
 
What is the incentive to run a node? There is no monetary reward, but tread this post/comment! https://www.reddit.com/CryptoCurrency/comments/7j4xgt/i_just_sent_1000xrb_from_one_wallet_to_anothedr4l587/
 
We're limited to 7k TPS, how's that scalable!? The current limitation of 7K TPS is a hardware limitation of writing data to the disk, not a protocol limitation. As hardware improves, so will the TPS limit.
 
Does the receiver account have to be online when I create my send transaction? No, whenever the send transaction goes out, the funds are "not pocketed" by the receiver. The funds are as good as the receivers and cannot be revoked by the sender. "Not pocketed" funds do NOT expire.
 
What are "not pocketed" funds? A transaction consists of a "send" and a "receive" transaction. During the period where a "send" doesn't have its partnering "receive" transaction, the accounts are considered "not pocketed" by the recipient. "Not pocketed" funds are securely the receiver's funds. Once the receiver's wallet comes online, is fully synced, and unlocked, the funds will automatically be signed into their account chain.
 
What are the requirements to run a node? Currently the only real recommendation is to have a fast storage medium, such as an SSD instead of HDD. This is because currently the full node software does a lot of disk I/O for rapidly processing transactions. This may change with future full node versions that better utilize available system RAM and relax disk I/O.
 
What do the numbers at the top of the desktop wallet mean? The numbers will look like: processed (unprocessed downloaded) Where "processed" is the number of downloaded blocks that your node has processed, and "unprocessed downloaded" are blocks that your software has downloaded but not processed yet. To be fully synced, all blocks must be processed. As new transactions are created on the network, they will be downloaded into the "unprocessed" category to be subsequently processed.
 
How can I run a full node? The desktop wallet is already a full node! Just by running it you are helping
 
Can I send funds to my wallet before it is synced? Yes. Funds can be sent to any "xrb_" address, even if they were created in an offline environment. RaiBlocks is exactly the same as ethereum or bitcoin in this sense. The funds will show up when the wallet is fully synced with the network. Make sure to back up your seed!
 
How do I backup my wallet? Just write down your seed and keep it in a safe place. All accounts generated from that seed will be generated again (in order) when you restore that seed.
 
Can I reuse an address? Yes, unlike IOTA you can reuse addresses like in Bitcoin and Ethereum. Please understand the reasoning for this; IOTA does this because it is a drawback to the quantum-proof digital signature algorithm they use. RaiBlocks' current digital signature algorithm is not quantum proof, but the devs have expressed interest in changing to a quantum-proof algortihm as the field matures and quantum computers become a more significant threat to the network.
 
What's up with the units? Currently the ticker XRB on exchanges represents 1 Mxrb (or million xrb). As the name suggests, 1Mxrb = 1000000 xrb. The smallest unit of RaiBlocks is the raw. There are 1024 raw in an xrb, or 1030 raw in an Mxrb/XRB. Whenever people are talking, they are generally talking in XRB or equivalently Mxrb
 
What is the max supply? The max supply is 133,248,290 XRB. For units see the question above. Why this number? Well RaiBlock's value is kept in a uint128 variable (unsigned 128-bit integer). An uint128 has max value (2128)-1, which is approximately 340,282,366,920,938,000,000,000,000,000,000,000,000. This was the original number of "raw" in RaiBlocks. RaiBlocks was distributed via a Captcha faucet distribution system; of which 133,248,290 XRB were distributed. Due to some non-technical issues, the faucet distribution was cut short and the remaining quantity was burned. This leaves just 133,248,290 XRB (approximately 133,248,290,000,000,000,000,000,000,000,000,000,000 raw) circulating.
 
Can someone access my funds even if I use a password (desktop wallet) Yes. The password feature of the desktop wallet just encrypts the seed locally on your computer. If anyone gets access to your plaintext (unencrypted seed, the thing we tell you to backup) they have access to your funds. The benefit of the password is that if someone has access to your computer, they don't immediately have access to your raiblocks.
 
Whats a seed? What's a private key? Whats a public key? Any time you set up a Raiblocks address (such as creating a new wallet) , you will be provided with a "Seed" which is 64 characters of text that is unique to your wallet. Do not store your seed online (e.g do not screenshot, email or save it in a file) because anyone with the seed can access all accounts on it and take all of your Rai! The reason why it is provided is so that if for any reason you need to recover your account(s) you can do so without the original wallet you created the account on, so keep it safe!
 
Tips & Tricks * Transferring BTC between exchanges can be expensive and relatively fast (think hour(s)), or cheap and slow (think a few days). LTC or ETH transfers are faster, but make sure to check the discrepancy in BTC-LTC or BTC-ETH prices on markets with low volume! * 1 XRB as bought on an exchange is 1 million xrb, aka Rai. 1 Rai = 1024th raw, the smallest units on the RaiBlocks network. * 'Not pocketed' can stay like that indefinitely. If you want to spend the coins, you'll have to sync your wallet and create a 'RECEIVE' block though (this is done by Advanced - Check for receivables in the desktop wallet).
 
Want to try out the instant transactions without any fees? Check out This link
 
Daily update of data.ldb for 1st sync Want to skip the long sync time? Save your seed, check Readme.txt if you are going to use this method to speed up 1st wallet sync! Confirm the checksums/links in the #support channel at https://chat.raiblocks.net/. It's usually posted by SergSW. This link or this slightly newer one will guide you through it, but use the links below for the most recent files.
 
Find the latest updated DB files in the wiki page: https://www.reddit.com/RaiBlocks/wiki/index
Make sure to read the readme.txt!!
submitted by Crypto_Jasper to RaiBlocks [link] [comments]

FAQ & Daily General Discussion - January 1th, 2018

FAQ below, daily discussion in the comments! /RaiTrade for all price and trading related posts
Welcome!
As only 2 stickied threads are possible, we have decided to combine the "Are you new here" and the daily discussion thread. XRB is attracting more and more people, both veterans and newbies in the cryptoworld. As XRB is quite a bit different than other coins/blockchains, it's normal that a lot of users have (the same) questions. So please, before making a new thread, read this post first and use the search bar! Threads that are created which contain a question to which an answer is available here, will be locked and directed to this post.
 
Guidelines for posting in this thread:
 
Questions, debates, meta issues, etc are all welcome. Breaking news should be posted separately from this thread. Rules:
 
Be respectful to one another. Follow the golden rule. No trolling or shilling.
 
Guidelines for posting new threads:
 
Is your thread something that does not fit in the daily thread or in another 'general' thread? Do you have a question, and it's not in the list below? Do you have exiting news to post? Did you use the search bar first? Good, go ahead :-)
 
The Whitepaper: In logical order, we start with the whitepaper. It contains the complete details about RaiBlocks, including some more technical details. Even if you're not technical, take a quick look at it. It will explain a lot! https://raiblocks.net/media/RaiBlocks_Whitepaper__English.pdf
 
The FAQs: Now the technical FAQs, a document explaining how it works, how it compares to other coins, ... https://raiblocks.net/media/RaiBlocks_FAQ.pdf
 
Let's keep a decent overview of other, more practical questions :-)
 
Guide to set up your wallet https://www.reddit.com/RaiBlocks/comments/7bw77e/how_to_setup_your_desktop_wallet/
 
How do I buy or store XRB? Check out these guides: https://www.reddit.com/RaiBlocks/comments/7i0co0/the_definitive_guide_to_buying_and_storing/ https://www.reddit.com/RaiBlocks/comments/7iv89b/how_to_buy_xrb_without_waiting_for_a_transaction/
 
My desktop wallet isn't syncing! Do the numbers between the brackets still move? Good. The numbers before the parentheses are the number of blocks the wallet has verified, the numbers between parentheses is the amount of downloaded-but-not-yet-verified blocks. Is the wallet unlocked? Good, it needs to be unlocked to be able to sync. Still nothing? Go to 'accounts' - 'use account'. Still nothing? Close the wallet, reopen it.
 
What is a representative? Ah, so you haven't read the whitepaper haven't you... When conflicting blocks arise, a vote will have to be cast on which block to accept. Since you won't be online 24/7, you can outsource your voting power to a representative, who are online 24/7. They cannot access your funds, and you can change it anytime.
 
What is the incentive to run a node? Apart from helping the network and making it more secure, this user gives a detailed answer: https://www.reddit.com/CryptoCurrency/comments/7j4xgt/i_just_sent_1000xrb_from_one_wallet_to_anothedr4l587/
 
My transaction isn't visible in my wallet or it says 'not pocketed' on the block explorer! Is your wallet fully synced? Yes? Good, it needs to be completely synced before it will show your balances. Nothing? Go to "https://raiblocks.net/account/index.php?acc=ADDRESS HERE". Do you see the transaction there (as 'not pocketed')? Good, that means that it's just a matter of showing it in your wallet, the coins are linked to your address already. In your wallet, go to 'Accounts' - 'Use account', 'Back', 'Advanced' - 'Search for receivables'. Did it work? Good. If not, go to 'Advanced' - 'Account explorer', hit refresh. Still nothing? Close/kill the wallet and reopen it. Still nothing? Go to 'Advanced' and change the unit from Mxrb to xrb and back to Mxrb. Stillll nothing? Fine, make a thread!
 
The syncing is sooo slow!! On HDD, it can take a couple days for it to sync. Why? Every block is only 400bytes in size, they all need to be written on your HDD. SSD takes about 12h. Check the bottom of this post for a shortcut if you use HDD (or SSD and have no patience :-) ).
 
My withdrawal from BitGrail/Mercatox isn't working!! BitGrail and Mercatox are having quite some issues, both due to a bug in their RaiBlocks node, and because of being overwelmed. They have to do each withdrawal manually. Log a ticket and have patience! Mercatox support: https://mercatox.com/support BitGrail support: to be added when they're back
 
We need a new exchange & website & ...!! Indeed, large exchange would be super!. But before that, we need a new website, mobile wallets, ... Those are in the make. Don't ask about the new exchanges, no one knows!
 
What is the incentive to run a node? There is no monetary reward, but tread this post/comment! https://www.reddit.com/CryptoCurrency/comments/7j4xgt/i_just_sent_1000xrb_from_one_wallet_to_anothedr4l587/
 
We're limited to 7k TPS, how's that scalable!? The current limitation of 7K TPS is a hardware limitation of writing data to the disk, not a protocol limitation. As hardware improves, so will the TPS limit.
 
Does the receiver account have to be online when I create my send transaction? No, whenever the send transaction goes out, the funds are "not pocketed" by the receiver. The funds are as good as the receivers and cannot be revoked by the sender. "Not pocketed" funds do NOT expire.
 
What are "not pocketed" funds? A transaction consists of a "send" and a "receive" transaction. During the period where a "send" doesn't have its partnering "receive" transaction, the accounts are considered "not pocketed" by the recipient. "Not pocketed" funds are securely the receiver's funds. Once the receiver's wallet comes online, is fully synced, and unlocked, the funds will automatically be signed into their account chain.
 
What are the requirements to run a node? Currently the only real recommendation is to have a fast storage medium, such as an SSD instead of HDD. This is because currently the full node software does a lot of disk I/O for rapidly processing transactions. This may change with future full node versions that better utilize available system RAM and relax disk I/O.
 
What do the numbers at the top of the desktop wallet mean? The numbers will look like: processed (unprocessed downloaded) Where "processed" is the number of downloaded blocks that your node has processed, and "unprocessed downloaded" are blocks that your software has downloaded but not processed yet. To be fully synced, all blocks must be processed. As new transactions are created on the network, they will be downloaded into the "unprocessed" category to be subsequently processed.
 
How can I run a full node? The desktop wallet is already a full node! Just by running it you are helping
 
Can I send funds to my wallet before it is synced? Yes. Funds can be sent to any "xrb_" address, even if they were created in an offline environment. RaiBlocks is exactly the same as ethereum or bitcoin in this sense. The funds will show up when the wallet is fully synced with the network. Make sure to back up your seed!
 
How do I backup my wallet? Just write down your seed and keep it in a safe place. All accounts generated from that seed will be generated again (in order) when you restore that seed.
 
Can I reuse an address? Yes, unlike IOTA you can reuse addresses like in Bitcoin and Ethereum. Please understand the reasoning for this; IOTA does this because it is a drawback to the quantum-proof digital signature algorithm they use. RaiBlocks' current digital signature algorithm is not quantum proof, but the devs have expressed interest in changing to a quantum-proof algortihm as the field matures and quantum computers become a more significant threat to the network.
 
What's up with the units? Currently the ticker XRB on exchanges represents 1 Mxrb (or million xrb). As the name suggests, 1Mxrb = 1000000 xrb. The smallest unit of RaiBlocks is the raw. There are 1024 raw in an xrb, or 1030 raw in an Mxrb/XRB. Whenever people are talking, they are generally talking in XRB or equivalently Mxrb
 
What is the max supply? The max supply is 133,248,290 XRB. For units see the question above. Why this number? Well RaiBlock's value is kept in a uint128 variable (unsigned 128-bit integer). An uint128 has max value (2128)-1, which is approximately 340,282,366,920,938,000,000,000,000,000,000,000,000. This was the original number of "raw" in RaiBlocks. RaiBlocks was distributed via a Captcha faucet distribution system; of which 133,248,290 XRB were distributed. Due to some non-technical issues, the faucet distribution was cut short and the remaining quantity was burned. This leaves just 133,248,290 XRB (approximately 133,248,290,000,000,000,000,000,000,000,000,000,000 raw) circulating.
 
Can someone access my funds even if I use a password (desktop wallet) Yes. The password feature of the desktop wallet just encrypts the seed locally on your computer. If anyone gets access to your plaintext (unencrypted seed, the thing we tell you to backup) they have access to your funds. The benefit of the password is that if someone has access to your computer, they don't immediately have access to your raiblocks.
 
Whats a seed? What's a private key? Whats a public key? Any time you set up a Raiblocks address (such as creating a new wallet) , you will be provided with a "Seed" which is 64 characters of text that is unique to your wallet. Do not store your seed online (e.g do not screenshot, email or save it in a file) because anyone with the seed can access all accounts on it and take all of your Rai! The reason why it is provided is so that if for any reason you need to recover your account(s) you can do so without the original wallet you created the account on, so keep it safe!
 
Tips & Tricks * Transferring BTC between exchanges can be expensive and relatively fast (think hour(s)), or cheap and slow (think a few days). LTC or ETH transfers are faster, but make sure to check the discrepancy in BTC-LTC or BTC-ETH prices on markets with low volume! * 1 XRB as bought on an exchange is 1 million xrb, aka Rai. 1 Rai = 1024th raw, the smallest units on the RaiBlocks network. * 'Not pocketed' can stay like that indefinitely. If you want to spend the coins, you'll have to sync your wallet and create a 'RECEIVE' block though (this is done by Advanced - Check for receivables in the desktop wallet).
 
Want to try out the instant transactions without any fees? Check out This link
 
Daily update of data.ldb for 1st sync Want to skip the long sync time? Save your seed, check Readme.txt if you are going to use this method to speed up 1st wallet sync! Confirm the checksums/links in the #support channel at https://chat.raiblocks.net/. It's usually posted by SergSW. This link or this slightly newer one will guide you through it, but use the links below for the most recent files.
 
Find the latest updated DB files in the wiki page: https://www.reddit.com/RaiBlocks/wiki/index
Make sure to read the readme.txt!!
submitted by Crypto_Jasper to RaiBlocks [link] [comments]

The Exhaustive EOS FAQ

The Exhaustive EOS FAQ

 
With the large number of new readers coming to this sub we need to make information easy to access so those readers can make informed decisions. We all know there is an unusually large amount of Fear, Uncertainty and Doubt (FUD) surrounding EOS. Frankly, when clear evidence is provided it’s not that difficult to see EOS for the extremely valuable project it is. This post hopes to begin to put an end to all the misinformation by doing the following:  
  • Giving a clear and concise answer to the most frequently asked questions in regards to EOS.
  • Giving a more in-depth answer for those who want to read more.
  • Allowing readers to make informed decisions by making credible information easy to access.
 
As EOS climbs the ranks we need to recognise there are going to be a lot of skeptical readers coming over and posting their questions. Sometimes they will be irrational, hostile and often just looking for a reaction. We should make it our responsibility to welcome everyone and refrain from responding emotionally to provocative posts, instead providing factual and rational answers.
I will add to this post as and when I can, if you have any ideas or spot any mistakes let me know and I'll get them fixed ASAP. Im planning to add a bit on the team, centralisation and DPOS, governance and EOS VC shortly but please let me hear your suggestions!
 

FAQ

1. How do you registeclaim your EOS tokens before June 2018?

 
Answer courtesy of endless. If you have not done so, you will need to create a new pair of EOS public and private keys and register them with an Ethereum address. This only needs to be done once.
On or around June 1, 2018 all EOS Tokens will become frozen and non-transferable on the Ethereum blockchain. Not long after, I suspect that EOS community members will create a snapshot of token balances that carry over onto a new community generated and selected EOS blockchain. block.one will not be launching EOS blockchains or operating any of their nodes. Additionally, this is a community subreddit unaffiliated in an official capacity with block.one
Method #1: MetaMask (recommended)
Video guide: https://www.youtube.com/watch?v=8K1Q5hX_4-o
steemit tutorial: https://steemit.com/eos/@ash/full-walkthrough-how-to-join-eos-ico
Method #2: MyEtherWallet
steemit tutorial: https://steemit.com/eos/@sandwich/contributing-to-eos-token-sale-with-myetherwallet-and-contract-inner-workings
Method #3: Exodus Wallet
Official website tutorial: http://support.exodus.io/article/65-i-ve-received-eos-tokens-in-exodus-how-do-i-register-them
Important note courtesy of dskvry bka Sandwich, the author of Method #2's steemit tutorial:
claimAll will not work for most users. When you get to the claim step, please use the following tutorial: https://steemit.com/eos/@koyn/minimizing-the-cost-of-gas-when-claiming-eos-using-myetherwallet
Did you buy your EOS tokens on an exchange? (Courtesy of IQOptionCoin)
REMEMBER YOU ONLY NEED TO REGISTER YOUR TOKENS IF YOU BOUGHT THEM ON AN EXCHANGE. YOU DON'T NEED TO CLAIM THEM.
  1. Go to the EOS website https://eos.io
  2. Scroll down and select "GET EOS"
  3. Tick all the required boxes and click "Continue"
  4. Scroll down and click "Register"
  5. Select Metamask, MyEtherWallet, or Ethereum Wallet
  6. Follow the guide.
  7. Remember that the reason you need to register your Ethereum ERC-20 address is to include your EOS tokens in order for the balance of your EOS Tokens to be included in the Snapshot if a Snapshot is created, you must register your Ethereum address with an EOS public key. The EOS snapshot will take place prior to the 1 June 2018. After this point your ERC-20 EOS tokens will be frozen. And you will be issued EOS tokens on the EOS blockchain.
So PLEASE REGISTER your Ethereum address NOW, don't forget about it, or plan on doing it some time in the near future.
There are a lot of submissions about this in /eos, so rather than making a new one please reply to this thread with any questions you may have. Don't forget to join the EOS mailing list: https://eos.io/#subscribe and join the EOS community on your platform(s) of choice: Telegram, Discord and/or Facebook.
And remember, if anyone instructs you to transfer ETH to an EOS contract address that doesn't match the address found on https://eos.io you are being scammed.
 

Sources:

How to registeclaim your EOS tokens before June 2018 by endless
Official EOS FAQ
 

2. How will the token the ERC-20 EOS tokens be transferred to the native blockchain?

 

Quick answer:

There isn't one! Read the long answer then read it again, registering your Ethereum wallet is mandatory!
 

Long answer:

Within 23 hours after the end of the final period on June 1, 2018 at 22:59:59 UTC, all EOS Tokens will become fixed (ie. frozen) and will become non-transferrable on the Ethereum blockchain.
In order to ensure your tokens are transferred over to the native blockchain you must register your Ethereum address with an EOS public key, if you do not you will lose all your tokens! I am not going to link any tutorials as there are many that can be found by searching Google and YouTube.
block.one is helping with the development of snapshot software that can be used to capture the EOS token balance and registered EOS public key of wallets on the Ethereum blockchain. It is then down to the community to create the snapshot. This snapshot can be used when generating a genesis block for a blockchain implementing eos.io software. block.one will not be launching EOS blockchains or operating any of their nodes.
 
Exchange Support
Some exchanges have announced that they will support the token swap. Although using this method will undoubtedly be much simpler than registering the tokens yourself it also comes with its pitfalls.
  • It is highly likely there are going to be multiple networks running on the eos.io software that use the snapshot. It is highly unlikely that exchanges will support them all.
  • It is highly likely that exchanges will not support airdrops that use the snapshot.
Exchanges that have announced support for the token swap include:
 

Sources:

EOS.io
 

3. What does EOS aim to achieve?

 

Quick answer:

EOS.IO software is aiming to provide a decentralized operating system which can support thousands of industrial scale DApps by enabling vertical and horizontal scaling.
 

Long answer:

EOS.IO is software that introduces a blockchain architecture designed to enable vertical and horizontal scaling of decentralized applications. This is achieved through an operating system-like construct upon which applications can be built. The software provides accounts, authentication, databases, asynchronous communication and the scheduling of applications across multiple CPU cores and/or clusters. The resulting technology is a blockchain architecture that has the potential to scale to millions of transactions per second, eliminates user fees and allows for quick and easy deployment of decentralized applications.
 

Sources:

Official EOS FAQ
 

4. Who are the key team figures behind EOS?

 
  • CEO Brendan Blumer - Founder of ii5 (1group) and okay.com. He has been in the blockchain industry since 2014 and started selling virtual assets at the age of 15. Brenden can be found on the Forbes Cypto Rich List. Brendan can be found on Twitter.
  • CTO Dan Larimer - Dan's the visionary industry leader who built BitShares, Graphene and Steemit as well as the increasingly popular Proof of Stake Governance and Decentralised Autonomous Organization Concept. He states his mission in life is “to find free market solutions to secure life, liberty, and property for all.”. Dan can also be found on the Forbes Cypto Rich List. Dan can be found on Twitter and Medium.
  • Partner Ian Grigg - Financial cryptographer who's been building cryptographic ledger platforms for 2+ decades. Inventor of the Ricardian Contract and Triple-Entry Accounting.
 

Sources:

Forbes Crypto Rich List
 

5. Where can the latest EOS news be found?

 
Official:
Community:
Developers:
 

6. Which consensus mechanism does EOS use and what are Block Producers?

 

Quick answer:

Delegated Proof of Stake (DPOS) with Byzantine Fault Tolerance. Block Producers (BPs) produce the blocks of the blockchain and are elected by token holders that vote for them. BPs will earn block rewards for their service, these block rewards come in the form of EOS tokens produced by token inflation.
 

Long answer:

Taken from the EOS.IO Technical White Paper v2:
“EOS.IO software utilizes the only known decentralized consensus algorithm proven capable of meeting the performance requirements of applications on the blockchain, Delegated Proof of Stake (DPOS). Under this algorithm, those who hold tokens on a blockchain adopting the EOS.IO software may select block producers through a continuous approval voting system. Anyone may choose to participate in block production and will be given an opportunity to produce blocks, provided they can persuade token holders to vote for them.
The EOS.IO software enables blocks to be produced exactly every 0.5 second and exactly one producer is authorized to produce a block at any given point in time. If the block is not produced at the scheduled time, then the block for that time slot is skipped. When one or more blocks are skipped, there is a 0.5 or more second gap in the blockchain.
Using the EOS.IO software, blocks are produced in rounds of 126 (6 blocks each, times 21 producers). At the start of each round 21 unique block producers are chosen by preference of votes cast by token holders. The selected producers are scheduled in an order agreed upon by 15 or more producers.
Byzantine Fault Tolerance is added to traditional DPOS by allowing all producers to sign all blocks so long as no producer signs two blocks with the same timestamp or the same block height. Once 15 producers have signed a block the block is deemed irreversible. Any byzantine producer would have to generate cryptographic evidence of their treason by signing two blocks with the same timestamp or blockheight. Under this model a irreversible consensus should be reachable within 1 second."
 

7. How does the voting process work?

 
The voting process will begin once the Block Producer community releases a joint statement ensuring that it is safe to import private keys and vote.
Broadly speaking there will be two methods of voting:
  1. Command Line Interface (CLI) tools
  2. Web portals
EOS Canada has created eosc, a CLI tool that supports Block Producer voting. Other Block Producer candidates such as LibertyBlock are a releasing web portal that will be ready for main net launch. There will be many more options over the coming weeks, please make sure you are always using a service from a trusted entity.
Remember: Do not import your private key until you have seen a joint statement released from at least five Block Producers that you trust which states when it is safe to do so. Ignoring this warning could result in tokens lost.
 

8. What makes EOS a good investment?

 
  • Team - EOS is spearheaded by the visionary that brought us the hugely successful Bitshares and Steem - arguably with two projects already under his belt there is no one more accomplished in the space.
  • Funding - EOS is one of the best funded projects in the space. The block.one team has committed $1B to investing in funds that grow the EOS echo system. EOS VC funds are managed by venture leaders distributed around the world to insure founders in all markets have the ability to work directly with local investors. Incentives such as the EOS hackathon are also in place with $1,500,000 USD in Prizes Across 4 Events.
  • Community Focus - The team is aware that the a projects success depends almost entirely on its adoption. For this reason there has been a huge push to develop a strong world wide community. There is already a surplus number of block producers that have registered their interest and started to ready themselves for the launch and incentives the EOS hackathon are being used to grow the community. A index of projects using EOS can be found at https://eosindex.io/posts.
  • Technical Advantages - See point 9!
 

9. What are the unique selling points of EOS?

 
  • Scaleability
    • Potential to scale to millions of transactions per second
    • Inter-blockchain communication
    • Separates authentication from execution
  • Flexibility
    • Freeze and fix broken applications
    • Generalised role based permissions
    • Web Assembly
  • Usability
    • Elimination of transaction fees
    • True user accounts with usernames, passwords and account recovery (no more having to remember long cryptographic keys)
    • Web toolkit for interface development
 

Sources:

eos.io
EOS Whitepaper
 

10. Is there currently a working product?

 

Quick answer:

This depends entirely on your definition of working product. If a fully featured developer release meets your definition then yes!. Otherwise the public release will be June 2018.
 

Long answer:

EOS differs from other projects in that it aims to deliver a fully featured version of the software on launch. The Dawn 3.0 RC1 feature complete pre-release became available on April 5th. This version has all the features of the final release that is due June 2018. Further development will involve preparing the final system contract which implements all of the staking, voting, and governance mechanics. The common notion that there is no viewable code published is wrong and the initial Dawn 1.0 release has been available from September 14th 2017.
 
EOSIO V1 - June 2nd 2018
Dawn 3.0 RC1 - April 5th 2018
Dawn 3.0 Alpha - January 23rd 2018
Dawn 2.0 - December 4th 2017
Dawn 1.0 - September 14th 2017
 

Sources:

 

11. EOS is an ERC-20 token, how can it possibly be a competitor to other platforms?

 

Quick answer:

The ERC-20 token is used only for raising funds during the token distribution; all tokens will be transferred to the native blockchain once launched.
 

Long answer:

EOS team has clearly stated their reason for choosing the Ethereum network when they described the rationale behind the ICO model. Specifically, the ICO should be a fair and auditable process, with as little trust required as possible. If you believe that an ICO should be fair, auditable, and trustless, you have no choice but to use a decentralized smart contract blockchain to run the ICO, the largest, and by-far most popular of which is Ethereum. Since EOS is intended to be a major competitor for Ethereum, some have seen this as a hypocritical choice. - Stolen from trogdor on Steam (I couldn’t word it any better myself).  

Sources:

The EOS ico for dummies by trogdor
Official EOS FAQ
 

12. Why do the eos.io T&C’s say the ERC-20 token has no value?

 
The EOS T&C’s famously state:
"The EOS Tokens do not have any rights, uses, purpose, attributes, functionalities or features, express or implied, including, without limitation, any uses, purpose, attributes, functionalities or features on the EOS Platform."
 

Quick answer:

This is legal wording to avoid all the legal complications in this emerging space, block.one do not want to find themselves in a lawsuit as we are seeing with an increasing amount of other ICOs. Most notably Tezos (links below).
 

Long answer:

This all comes down to legal issues. Anyone who’s been into crypto for 5 minuets knows that government bodies such as the Securities and Exchange Commission (SEC) are now paying attention to crypto in a big way. This legal wording is to avoid all the legal complications in this emerging space, block.one do not want to find themselves in a lawsuit as we are seeing with an increasing amount of other ICOs. Many token creators that launched ICOs are now in deep water for selling unregistered securities.
 
A filing from the Tezos lawsuit:
"In sum, Defendants capitalized on the recent enthusiasm for blockchain technology and cryptocurrencies to raise funds through the ICO, illegally sold unqualified and unregistered securities, used a Swiss-based entity in an unsuccessful attempt to evade U.S. securities laws, and are now admittedly engaged in the conversion, selling, and possible dissipation of the proceeds that they collected from the Class through their unregistered offering."
 
To ensure EOS tokens are not classed as a unregistered security block.one has made it clear that they are creating the EOS software only and won’t launching a public blockchain themselves. This task is left down to the community, or more precisely, the Block Producers (BPs). The following disclaimer is seen after posts from block.one:
 
"block.one is a software company and is producing the EOS.IO software as free, open source software. This software may enable those who deploy it to launch a blockchain or decentralized applications with the features described above. block.one will not be launching a public blockchain based on the EOS.IO software. It will be the sole responsibility of third parties and the community and those who wish to become block producers to implement the features and/or provide the services described above as they see fit. block.one does not guarantee that anyone will implement such features or provide such services or that the EOS.IO software will be adopted and deployed in any way.”
 
It is expected that many blockchains using eos.io software will emerge. To ensure DAPPs are created on an ecosystem that aligns with the interests of block.one a $1bn fund will be has been created to incentivise projects to use this blockchain.
 

Sources:

EOS.io FAQ Great video on this topic by The Awakenment EOS $1bn Fund Announcement Article on the Tezos lawsuit Article on the Gigawatt lawsuit An official block.one post featuring disclaimer
 

13. Why is the token distribution one year long?

 
Official statement from block.one:
“A lot of token distributions only allow a small amount of people to participate. The EOS Token distribution structure was created to provide a sufficient period of time for people to participate if they so choose, as well as give people the opportunity to see the development of the EOS.IO Software prior to making a decision to purchase EOS Tokens.”
 
It is also worth noting that block.one had no knowledge how much the the token distribution would raise as it is determined by the free market and the length of the token distribution is coded into the Ethereum smart contract, which cannot be changed.
 

Sources:

EOS.io FAQ
 

14. Where is the money going from the token distribution?

 

Quick answer:

Funding for the project was raised before EOS was announced, the additional money raised from the token distribution is largely going to fund projects on EOS.
 

Long answer:

A large portion of the money raised is getting put back into the community to incentivise projects using eos.io software. block.one raised all the money they needed to develop the software before the ERC-20 tokens went on sale. There are some conspiracies that block.one are pumping the price of EOS using the funds raised. The good thing about blockchain is you can trace all the transactions, which show nothing of the sort. Not only this but the EOS team are going to have an independent audit after the funding is complete for piece of mind.
 
From eos.io FAQ:
“block.one intends to engage an independent third party auditor who will release an independent audit report providing further assurances that block.one has not purchased EOS Tokens during the EOS Token distribution period or traded EOS Tokens (including using proceeds from the EOS Token distribution for these purposes). This report will be made available to the public on the eos.io website.”
 

Sources:

EOS.io FAQ EOS $1bn Fund Announcement
 

15. Who's using EOS?

 
With 2 months from launch left there is a vibrant community forming around EOS. Some of the most notable projects that EOS software will support are:
A more complete list of EOS projects can be found at eosindex.io.
 

16. Dan left his previous projects, will he leave EOS?

 

Quick answer:

When EOS has been created Dan will move onto creating projects for EOS with block.one.
 

Long answer:

When a blockchain project has gained momentum and a strong community has formed the project takes on a life of its own and the communities often have ideas that differ from the creators. As we have seen with the Bitcoin and Ethereum hark forks you cant pivot a community too much in a different direction, especially if its changing the fundamentals of the blockchain. Instead of acting like a tyrant Dan has let the communities do what they want and gone a different way. Both the Bitshares and Steem were left in a great position and with Dans help turned out to be two of the most successful blockchain projects to date. Some would argue the most successful projects that are actually useable and have a real use case.
What Dan does best is build the architecture and show whats possible. Anyone can then go on to do the upgrades. He is creating EOS to build his future projects upon it. He has stated he loves working at block.one with Brendan and the team and there is far too much momentum behind EOS for him to possibly leave.
 

Sources:

Dans future beyond EOS
Why Dan left Bitshares
Why Dan left Steem
 

17. Is EOS susceptible to DDoS attacks?

 
No one could have better knowledge on this subject than our Block Producer candidates, I have chosen to look to EOS New York for this answer:
"DDoS'ing a block producing is not as simple as knowing their IP address and hitting "go". We have distributed systems engineers in each of our candidate groups that have worked to defend DDoS systems in their careers. Infrastructure can be built in a way to minimize the exposure of the Block Producing node itself and to prevent a DDoS attack. We haven't published our full architecture yet but let's take a look at fellow candidate EOSphere to see what we mean. As for the launch of the network, we are assuming there will be attacks on the network as we launch. It is being built into the network launch plans. I will reach out to our engineers to get a more detailed answer for you. What also must be considered is that there will be 121 total producing and non-producing nodes on the network. To DDoS all 121 which are located all around the world with different security configurations at the exact same time would be a monumental achievement."
 

Sources:

eosnewyork on DDoS attackd
EOSSphere Architecture
 

18. If block producers can alter code how do we know they will not do so maliciously?

 

Quick answer:

  • Block producers are voted in by stake holders.
  • Changes to the protocol, constitution or other updates are proposed to the community by block producers.
  • Changes takes 2 to 3 months due to the fact block producers must maintain 15/21 approval for a set amount of time while for changes to be processed.
  • To ensure bad actors can be identified and expelled the block.one backed community will not back an open-entry system built around anonymous participation.
 

Long answer:

For this question we must understand the following.
  • Governance and why it is used.
  • The process of upgrading the protocol, constitution & other updates.
  • Dan’s view on open-entry systems built around anonymous participation.
 
Governance
Cryptography can only be used to prove logical consistency. It cannot be used to make subjective judgment calls, determine right or wrong, or even identify truth or falsehood (outside of consistency). We need humans to perform these tasks and therefore we need governance!
Governance is the process by which people in a community:
  1. Reach consensus on subjective matters of collective action that cannot be captured entirely by software algorithms;
  2. Carry out the decisions they reach; and
  3. Alter the governance rules themselves via Constitutional amendments.
Embedded into the EOS.IO software is the election of block producers. Before any change can be made to the blockchain these block producers must approve it. If the block producers refuse to make changes desired by the token holders then they can be voted out. If the block producers make changes without permission of the token holders then all other non-producing full-node validators (exchanges, etc) will reject the change.
 
Upgrade process
The EOS.IO software defines the following process by which the protocol, as defined by the canonical source code and its constitution, can be updated:
  1. Block producers propose a change to the constitution and obtains 15/21 approval.
  2. Block producers maintain 15/21 approval of the new constitution for 30 consecutive days.
  3. All users are required to indicate acceptance of the new constitution as a condition of future transactions being processed.
  4. Block producers adopt changes to the source code to reflect the change in the constitution and propose it to the blockchain using the hash of the new constitution.
  5. Block producers maintain 15/21 approval of the new code for 30 consecutive days.
  6. Changes to the code take effect 7 days later, giving all non-producing full nodes 1 week to upgrade after ratification of the source code.
  7. All nodes that do not upgrade to the new code shut down automatically.
By default, configuration of the EOS.IO software, the process of updating the blockchain to add new features takes 2 to 3 months, while updates to fix non-critical bugs that do not require changes to the constitution can take 1 to 2 months.
 
Open-entry systems built around anonymous participation
To ensure bad actors can be identified and expelled the block.one backed community will not back an open-entry system built around anonymous participation.
Dan's quote:
"The only way to maintain the integrity of a community is for the community to have control over its own composition. This means that open-entry systems built around anonymous participation will have no means expelling bad actors and will eventually succumb to profit-driven corruption. You cannot use stake as a proxy for goodness whether that stake is held in a bond or a shareholder’s vote. Goodness is subjective and it is up to each community to define what values they hold as good and to actively expel people they hold has bad.
The community I want to participate in will expel the rent-seeking vote-buyers and reward those who use their elected broadcasting power for the benefit of all community members rather than special interest groups (such as vote-buyers). I have faith that such a community will be far more competitive in a market competition for mindshare than one that elects vote buyers."
 

Sources:

The Limits of Crypto-economic Governance
EOS.IO Technical White Paper v2
 

19. What is the most secure way to generate EOS key pairs?

 
Block producer candidates EOS Cafe and EOS New York have come forward to help the community with this topic.
The block producer candidate eosnewyork has kindly posted a tutorial on steemit detailing the steps that need to be taken to generate key pairs using the official code on the EOS.IO Github.
The block producer candidate eoscafe has gone a step further and released an Offline EOS Key Generator application complete with GUI for Windows, Linux & Mac. Not only can this application generate key pairs but it can also validate key pairs and resolve public keys from private keys. This application has also been vouched for by EOS New York
 

Sources:

EOS.IO Github
eosnewyork's key pair generation tutorial
eoscafe's offline key par generation application  
submitted by Techno-Tech to eos [link] [comments]

The History, The Current State And The Future Of NavCoin

The History, The Current State And The Future Of NavCoin

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

Table Of Content


Introduction - What is NavCoin?


The History

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

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

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

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

The Current State

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

The Future

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

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

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

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

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

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

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

Outro

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

Giveaway

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

References

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

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Bitcoin Cold Storage Wallet Creation Tutorial

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