Understanding the Motivations, Challenges and Needs of Blockchain Software Developers: a Survey
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Characterizing Ethereum's Mining Power Decentralization at a Deeper
Characterizing Ethereum’s Mining Power Decentralization at a Deeper Level Liyi Zeng∗§, Yang Chen†§, Shuo Chen†, Xian Zhang†, Zhongxin Guo†, Wei Xu∗, Thomas Moscibroda‡ ∗Institute for Interdisciplinary Information Sciences, Tsinghua University †Microsoft Research ‡Microsoft Azure §Contacts: [email protected], [email protected] Abstract—For proof-of-work blockchains such as Ethereum, than 50% of the total power has grown from several the mining power decentralization is an important discussion hundred to several thousand. Overall, the power is more point in the community. Previous studies mostly focus on the decentralized at the participant level than 4 years ago. aggregated power of the mining pools, neglecting the pool participants who are the source of the pools’ power. In this paper, However, we also find that this number varied signif- we present the first large-scale study of the pool participants icantly over time, which means it requires continuous in Ethereum’s mining pools. Pool participants are not directly tracking. Additionally, as our current data and method- observable because they communicate with their pools via private ology cannot de-anonymize the participants, it’s possible channels. However, they leave “footprints” on chain as they that some participants split themselves into many smaller use Ethereum accounts to anonymously receive rewards from mining pools. For this study, we combine several data sources ones for various reasons, which could make our estima- to identify 62,358,646 pool reward transactions sent by 47 tion inaccurate if not completely off the target. Further pools to their participants over Ethereum’s entire near 5-year study to improve the estimation accuracy is important. -
Crypto Research Report ‒ April 2019 Edition
April 2019 Edition VI. “When the Tide Goes Out…” Investments: Gold and Bitcoin, Stronger Together Technical Analysis: Spring Awakening? Cryptocurrency Mining in Theory and Practice Demelza Kelso Hays Mark J. Valek We would like to express our profound gratitude to our premium partners for supporting the Crypto Research Report: www.cryptofunds.li Contents Editorial ............................................................................................................................................... 4 In Case You Were Sleeping: When the Tide Goes Out…............................................................... 5 Back to the Roots ............................................................................................................................................. 6 How Long Will This Bear Market Last .............................................................................................................. 7 A Tragic Story Traverses the World ................................................................................................................. 9 When the tide goes out… ............................................................................................................................... 10 A State Cryptocurrency? ................................................................................................................................ 12 Support is Increasing ..................................................................................................................................... 14 -
Asymmetric Proof-Of-Work Based on the Generalized Birthday Problem
Equihash: Asymmetric Proof-of-Work Based on the Generalized Birthday Problem Alex Biryukov Dmitry Khovratovich University of Luxembourg University of Luxembourg [email protected] [email protected] Abstract—The proof-of-work is a central concept in modern Long before the rise of Bitcoin it was realized [20] that cryptocurrencies and denial-of-service protection tools, but the the dedicated hardware can produce a proof-of-work much requirement for fast verification so far made it an easy prey for faster and cheaper than a regular desktop or laptop. Thus the GPU-, ASIC-, and botnet-equipped users. The attempts to rely on users equipped with such hardware have an advantage over memory-intensive computations in order to remedy the disparity others, which eventually led the Bitcoin mining to concentrate between architectures have resulted in slow or broken schemes. in a few hardware farms of enormous size and high electricity In this paper we solve this open problem and show how to consumption. An advantage of the same order of magnitude construct an asymmetric proof-of-work (PoW) based on a compu- is given to “owners” of large botnets, which nowadays often tationally hard problem, which requires a lot of memory to gen- accommodate hundreds of thousands of machines. For prac- erate a proof (called ”memory-hardness” feature) but is instant tical DoS protection, this means that the early TLS puzzle to verify. Our primary proposal Equihash is a PoW based on the schemes [8], [17] are no longer effective against the most generalized birthday problem and enhanced Wagner’s algorithm powerful adversaries. -
Zcash Protocol Speci Cation
Zcash Protocol Specication Version 2018.0-beta-14 Daira Hopwood† Sean Bowe† — Taylor Hornby† — Nathan Wilcox† March 11, 2018 Abstract. Zcash is an implementation of the Decentralized Anonymous Payment scheme Zerocash, with security xes and adjustments to terminology, functionality and performance. It bridges the exist- ing transparent payment scheme used by Bitcoin with a shielded payment scheme secured by zero- knowledge succinct non-interactive arguments of knowledge (zk-SNARKs). It attempts to address the problem of mining centralization by use of the Equihash memory-hard proof-of-work algorithm. This specication denes the Zcash consensus protocol and explains its differences from Zerocash and Bitcoin. Keywords: anonymity, applications, cryptographic protocols, electronic commerce and payment, nancial privacy, proof of work, zero knowledge. Contents 1 1 Introduction 5 1.1 Caution . .5 1.2 High-level Overview . .5 2 Notation 7 3 Concepts 8 3.1 Payment Addresses and Keys . .8 3.2 Notes...........................................................9 3.2.1 Note Plaintexts and Memo Fields . .9 3.3 The Block Chain . 10 3.4 Transactions and Treestates . 10 3.5 JoinSplit Transfers and Descriptions . 11 3.6 Note Commitment Trees . 11 3.7 Nullier Sets . 12 3.8 Block Subsidy and Founders’ Reward . 12 3.9 Coinbase Transactions . 12 † Zerocoin Electric Coin Company 1 4 Abstract Protocol 12 4.1 Abstract Cryptographic Schemes . 12 4.1.1 Hash Functions . 12 4.1.2 Pseudo Random Functions . 13 4.1.3 Authenticated One-Time Symmetric Encryption . 13 4.1.4 Key Agreement . 13 4.1.5 Key Derivation . 14 4.1.6 Signature . 15 4.1.6.1 Signature with Re-Randomizable Keys . -
Coinbase Explores Crypto ETF (9/6) Coinbase Spoke to Asset Manager Blackrock About Creating a Crypto ETF, Business Insider Reports
Crypto Week in Review (9/1-9/7) Goldman Sachs CFO Denies Crypto Strategy Shift (9/6) GS CFO Marty Chavez addressed claims from an unsubstantiated report earlier this week that the firm may be delaying previous plans to open a crypto trading desk, calling the report “fake news”. Coinbase Explores Crypto ETF (9/6) Coinbase spoke to asset manager BlackRock about creating a crypto ETF, Business Insider reports. While the current status of the discussions is unclear, BlackRock is said to have “no interest in being a crypto fund issuer,” and SEC approval in the near term remains uncertain. Looking ahead, the Wednesday confirmation of Trump nominee Elad Roisman has the potential to tip the scales towards a more favorable cryptoasset approach. Twitter CEO Comments on Blockchain (9/5) Twitter CEO Jack Dorsey, speaking in a congressional hearing, indicated that blockchain technology could prove useful for “distributed trust and distributed enforcement.” The platform, given its struggles with how best to address fraud, harassment, and other misuse, could be a prime testing ground for decentralized identity solutions. Ripio Facilitates Peer-to-Peer Loans (9/5) Ripio began to facilitate blockchain powered peer-to-peer loans, available to wallet users in Argentina, Mexico, and Brazil. The loans, which utilize the Ripple Credit Network (RCN) token, are funded in RCN and dispensed to users in fiat through a network of local partners. Since all details of the loan and payments are recorded on the Ethereum blockchain, the solution could contribute to wider access to credit for the unbanked. IBM’s Payment Protocol Out of Beta (9/4) Blockchain World Wire, a global blockchain based payments network by IBM, is out of beta, CoinDesk reports. -
A Survey on Volatility Fluctuations in the Decentralized Cryptocurrency Financial Assets
Journal of Risk and Financial Management Review A Survey on Volatility Fluctuations in the Decentralized Cryptocurrency Financial Assets Nikolaos A. Kyriazis Department of Economics, University of Thessaly, 38333 Volos, Greece; [email protected] Abstract: This study is an integrated survey of GARCH methodologies applications on 67 empirical papers that focus on cryptocurrencies. More sophisticated GARCH models are found to better explain the fluctuations in the volatility of cryptocurrencies. The main characteristics and the optimal approaches for modeling returns and volatility of cryptocurrencies are under scrutiny. Moreover, emphasis is placed on interconnectedness and hedging and/or diversifying abilities, measurement of profit-making and risk, efficiency and herding behavior. This leads to fruitful results and sheds light on a broad spectrum of aspects. In-depth analysis is provided of the speculative character of digital currencies and the possibility of improvement of the risk–return trade-off in investors’ portfolios. Overall, it is found that the inclusion of Bitcoin in portfolios with conventional assets could significantly improve the risk–return trade-off of investors’ decisions. Results on whether Bitcoin resembles gold are split. The same is true about whether Bitcoins volatility presents larger reactions to positive or negative shocks. Cryptocurrency markets are found not to be efficient. This study provides a roadmap for researchers and investors as well as authorities. Keywords: decentralized cryptocurrency; Bitcoin; survey; volatility modelling Citation: Kyriazis, Nikolaos A. 2021. A Survey on Volatility Fluctuations in the Decentralized Cryptocurrency Financial Assets. Journal of Risk and 1. Introduction Financial Management 14: 293. The continuing evolution of cryptocurrency markets and exchanges during the last few https://doi.org/10.3390/jrfm years has aroused sparkling interest amid academic researchers, monetary policymakers, 14070293 regulators, investors and the financial press. -
Cuba: Issues for the 111Th Congress
Cuba: Issues for the 111th Congress Mark P. Sullivan Specialist in Latin American Affairs September 3, 2010 Congressional Research Service 7-5700 www.crs.gov R40193 CRS Report for Congress Prepared for Members and Committees of Congress Cuba: Issues for the 111th Congress Summary Cuba remains a hard-line communist state with a poor record on human rights. The country’s political succession in 2006 from the long-ruling Fidel Castro to his brother Raúl was characterized by a remarkable degree of stability. The government of Raúl Castro has implemented limited economic policy changes, but there has been disappointment that further reforms have not been forthcoming. The economy was hard hit by storms in 2008, and the global financial crisis has caused further strains. Few observers expect the government to ease its tight control over the political system, although it did agree in July 2010 to release 52 political prisoners after talks with the Cuban Catholic Church. Since the early 1960s, U.S. policy has consisted largely of isolating Cuba through economic sanctions. A second policy component has consisted of support measures for the Cuban people, including U.S.-sponsored broadcasting and support for human rights activists. In light of Fidel Castro’s departure as head of government, many observers have called for a re-examination of policy with two broad approaches advanced: an approach that would maintain the dual-track policy of isolating the Cuban government while providing support to the Cuban people; and an approach aimed at changing attitudes in the Cuban government and society through increased engagement. -
Blockchain and The
NOTES ACKNOWLEDGMENTS INDEX Notes Introduction 1. The manifesto dates back to 1988. See Timothy May, “The Crypto Anarchist Manifesto” (1992), https:// www . activism . net / cypherpunk / crypto - anarchy . html. 2. Ibid. 3. Ibid. 4. Ibid. 5. Ibid. 6. Timothy May, “Crypto Anarchy and Virtual Communities” (1994), http:// groups . csail . mit . edu / mac / classes / 6 . 805 / articles / crypto / cypherpunks / may - virtual - comm . html. 7. Ibid. 8. For example, as we wi ll describe in more detail in Chapter 1, the Bitcoin blockchain is currently stored on over 6,000 computers in eighty- nine jurisdictions. See “Global Bitcoin Node Distribution,” Bitnodes, 21 . co, https:// bitnodes . 21 . co / . Another large blockchain- based network, Ethereum, has over 12,000 nodes, also scattered across the globe. See Ethernodes, https:// www . ethernodes . org / network / 1. 9. See note 8. 10. Some blockchains are not publicly accessible (for more on this, see Chapter 1). These blockchains are referred to as “private blockchains” and are not the focus of this book. 11. See Chapter 1. 12. The Eu ro pean Securities and Market Authority, “Discussion Paper: The Dis- tributed Ledger Technology Applied to Securities Markets,” ESMA / 2016 / 773, June 2, 2016: at 17, https:// www . esma . europa . eu / sites / default / files / library / 2016 - 773 _ dp _ dlt . pdf. 213 214 NOTES TO PAGES 5–13 13. The phenomena of order without law also has been described in other con- texts, most notably by Robert Ellickson in his seminal work Order without Law (Cambridge, MA: Harvard University Press, 1994). 14. Joel Reidenberg has used the term “lex informatica” to describe rules imple- mented by centralized operators online. -
La Criptomoneda
LA CRIPTOMONEDA LA CRIPTOMONEDA 1 LA CRIPTOMONEDA CONTENIDO 1. ¿Cuál es la criptomoneda más rentable para invertir? …………… Pág.6 2. NEO (NEO; antes AntShares) …………………………………………Pág.7 3. NEM (XEM) ……………………………………………………………….Pág.8 4. Ripple (XRP) ……………………………………………………………. Pág.9 5. Stellar (XLM) ……………………………………………………………. Pág.10 6. Ethereum (ETH) ………………………………………………………… Pág.11 7. Dash (Dash; antes Darkcoin o XCoin) ………………………………. Pág.12 8. Tron (TXR) ………………………………………………………………. Pág.13 9. Litecoin (LTC) ……………………………………………………………Pág.14 10. Cardano (ADA) …………………………………………………………. Pág.15 11. Monero (XMR) …………………………………………………………… Pág.16 12. Iota (Miota) ……………………………………………………………… Pág.17 13. Bitcoin (BTC) ……………………………………………………………. Pág.19 14. Bitcoin Cash (BCH)………………………………………………………. Pág. 21 15. Qué es una ICO: la ‘bolsa’ basada en las criptomonedas………… Pág.23 16. Qué es una ICO ………………………………………………………… Pág.24 2 LA CRIPTOMONEDA 17. Cómo se compra una ICO ……………………………………………... Pág. 26 18. ¿QUÉ ES LA MINERÍA DE BITCOINS (CRIPTOMONEDAS)?.......... Pág.28 19. MINERÍA BITCOIN ………………………………………………………. Pág.29 20. ¿CÓMO MINAR CRIPTOMONEDAS? …………………………………Pág.32 21. PRUEBA DE TRABAJO (PROOF-OF-WORK) ………………………. Pág.33 22. Minero ASIC de Bitcoin con fuente de 1.300 vatios ………………… Pág. 35 23. PRUEBA DE PARTICIPACIÓN (PROOF-OF-STAKE) ………………. Pág.38 24. Votación de delegados para forging en Lisk. ………………………. Pág.40 25. GRUPOS DE MINERÍA (MINING POOLS) ……………………………Pág.42 26. Participación de mercado de grupos de minería de Bitcoin. …….. Pág.46 27. MINERÍA EN LA NUBE (CLOUD MINING) …………………………... Pág. 48 28. Minería de criptomonedas para novatos ……………………………. Pág. 50 29. ORIGEN DEL VALOR …………………………………………………... Pág.52 30. HARDWARE NECESARIO ……………………………………………….Pág.57 31. ASPECTOS A TENER EN CUENTA PARA HARDWARE …………..Pág. 60 32. GPU ……………………………………………………………………….. Pág. 63 33. ELEGIR UNA CRIPTOMONEDA PARA CRIPTOMINAR …………….Pág. 67 34. CONSUMO ELÉCTRICO …………………………………………………Pág.74 3 LA CRIPTOMONEDA 35. -
List of Cryptoassets That Can Be Legally Traded in Indonesia
List of Cryptoassets That Can Be Legally Traded in Indonesia Approved cryptoassets under Bappebti Regulation No. 7 of 2020 regarding the Stipulation of the List of Cryptoassets that Are Allowed to Be Traded in the Cryptoasset Physical Market. 1. Bitcoin 81. Verge 161. Storm 2. Ethereum 82. Pax gold 162. Vertcoin 3. Tether 83. Matic network 163. Ttc 4. Xrp/ripple 84. Kava 164. Metadium 5. Bitcoin cash 85. Komodo 165. Pumapay 6. Binance coin 86. Steem 166. Nav coin 7. Polkadot 87. Aelf 167. Dmarket 8. Chainlink 88. Fantom 168. Spendcoin 9. Lightcoin 89. Horizen 169. Tael 10. Bitcoin sv 90. Ardor 170. Burst 11. Litecoin 91. Hive 171. Gifto 12. Crypto.com coin 92. Enigma 172. Sentinel protocol 13. Usd coin 93. V. Systems 173. Quantum resistant ledger 14. Eos 94. Z coin 174. Digix gold token 15. Tron 95. Wax 175. Blocknet 16. Cardano 96. Stratis 176. District0x 17. Tezos 97. Ankr 177. Propy 18. Stellar 98. Ark 178. Eminer 19. Neo 99. Syscoin 179. Ost 20. Nem 100. Power ledger 180. Steamdollar 21. Cosmos 101. Stasis euro 181. Particl 22. Wrapped bitcoin 102. Harmony 182. Data 23. Iota 103. Pundi x 183. Sirinlabs 24. Vechain 104. Solve.care 184. Tokenomy 25. Dash 105. Gxchain 185. Digitalnote 26. Ehtereum classic 106. Coti 186. Abyss token 27. Yearn.finance 107. Origin protokol 187. Cake 28. Theta 108. Xinfin network 188. Veriblock 29. Binance usd 109. Btu protocol 189. Hydro 30. Omg network 110. Dad 190. Viberate 31. Maker 111. Orion protocol 191. Rupiahtoken 32. Ontology 112. Cortex 192. -
A Survey on Consensus Mechanisms and Mining Strategy Management
1 A Survey on Consensus Mechanisms and Mining Strategy Management in Blockchain Networks Wenbo Wang, Member, IEEE, Dinh Thai Hoang, Member, IEEE, Peizhao Hu, Member, IEEE, Zehui Xiong, Student Member, IEEE, Dusit Niyato, Fellow, IEEE, Ping Wang, Senior Member, IEEE Yonggang Wen, Senior Member, IEEE and Dong In Kim, Fellow, IEEE Abstract—The past decade has witnessed the rapid evolution digital tokens between Peer-to-Peer (P2P) users. Blockchain in blockchain technologies, which has attracted tremendous networks, especially those adopting open-access policies, are interests from both the research communities and industries. The distinguished by their inherent characteristics of disinterme- blockchain network was originated from the Internet financial sector as a decentralized, immutable ledger system for transac- diation, public accessibility of network functionalities (e.g., tional data ordering. Nowadays, it is envisioned as a powerful data transparency) and tamper-resilience [2]. Therefore, they backbone/framework for decentralized data processing and data- have been hailed as the foundation of various spotlight Fin- driven self-organization in flat, open-access networks. In partic- Tech applications that impose critical requirement on data ular, the plausible characteristics of decentralization, immutabil- security and integrity (e.g., cryptocurrencies [3], [4]). Further- ity and self-organization are primarily owing to the unique decentralized consensus mechanisms introduced by blockchain more, with the distributed consensus provided by blockchain networks. This survey is motivated by the lack of a comprehensive networks, blockchains are fundamental to orchestrating the literature review on the development of decentralized consensus global state machine1 for general-purpose bytecode execution. mechanisms in blockchain networks. In this survey, we provide a Therefore, blockchains are also envisaged as the backbone systematic vision of the organization of blockchain networks. -
A Decentralized Digital Content Marketplace
LBRY: A Decentralized Digital Content Marketplace Alex Grintsvayg ([email protected]), Jeremy Kauman ([email protected]) Introduction LBRY is a protocol for accessing and publishing digital content in a global, decentralized marketplace. LBRY uses a public blockchain to provide a single shared index of published content, as well as content discovery and payment. Clients can use LBRY to publish, host, find, download, and pay for content — books, movies, music, or anything else that can be represented as a stream of bits. The protocol is permissionless and censorship-resistant, which means that participation is open to everyone and no one can unilaterally block or remove content. Before LBRY, publishers had to choose between a centralized host such as Amazon or Youtube, or a protocol like Bittorrent. Centralized platforms suer from several problems because their incentives are not aligned with the incentives of their users. Hosts engage in rent-seeking behavior, oen extracting 30-55% of creator profits. They enforce opaque and arbitrary rules on creators, and change those rules without warning or community input. They choose to censor content at the behest of repressive regimes around the world, in exchange for access to more users and higher profits for themselves. Bittorrent does not have these faults, but it has problems of its own. It is only useful if one already knows the infohash of the content they seek, and there is no way to discover these hashes within the protocol. Even using an external search engine does not provide a comprehensive list of what is available on the network. There are no incentives for users to seed content, and Bittorrent largely works because users earn status through private communities, are nice, or simply fail to understand what their client is doing.