Hackers target Docker servers to deploy the Kinsing

QuarkCoin Cryptocurrency

Quark is a decentralized digital monetary system. It facilitates sending Quarks to Friends, Family Members Online Payments free of charges and charge-backs. Military Grade Encryption. No Bank or Government Control. Quark coins are based on the original idea of Bitcoin but improved, more secure, faster transaction times and zero fees. With improvements to design and security. There is also a greater coin supply with higher block rewards for miners. Quark is fully Open Source.

Groestlcoin 6th Anniversary Release


Dear Groestlers, it goes without saying that 2020 has been a difficult time for millions of people worldwide. The groestlcoin team would like to take this opportunity to wish everyone our best to everyone coping with the direct and indirect effects of COVID-19. Let it bring out the best in us all and show that collectively, we can conquer anything.
The centralised banks and our national governments are facing unprecedented times with interest rates worldwide dropping to record lows in places. Rest assured that this can only strengthen the fundamentals of all decentralised cryptocurrencies and the vision that was seeded with Satoshi's Bitcoin whitepaper over 10 years ago. Despite everything that has been thrown at us this year, the show must go on and the team will still progress and advance to continue the momentum that we have developed over the past 6 years.
In addition to this, we'd like to remind you all that this is Groestlcoin's 6th Birthday release! In terms of price there have been some crazy highs and lows over the years (with highs of around $2.60 and lows of $0.000077!), but in terms of value– Groestlcoin just keeps getting more valuable! In these uncertain times, one thing remains clear – Groestlcoin will keep going and keep innovating regardless. On with what has been worked on and completed over the past few months.

UPDATED - Groestlcoin Core 2.18.2

This is a major release of Groestlcoin Core with many protocol level improvements and code optimizations, featuring the technical equivalent of Bitcoin v0.18.2 but with Groestlcoin-specific patches. On a general level, most of what is new is a new 'Groestlcoin-wallet' tool which is now distributed alongside Groestlcoin Core's other executables.
NOTE: The 'Account' API has been removed from this version which was typically used in some tip bots. Please ensure you check the release notes from 2.17.2 for details on replacing this functionality.

How to Upgrade?

If you are running an older version, shut it down. Wait until it has completely shut down (which might take a few minutes for older versions), then run the installer.
If you are running an older version, shut it down. Wait until it has completely shut down (which might take a few minutes for older versions), run the dmg and drag Groestlcoin Core to Applications.

Other Linux



Download the Windows Installer (64 bit) here
Download the Windows Installer (32 bit) here
Download the Windows binaries (64 bit) here
Download the Windows binaries (32 bit) here
Download the OSX Installer here
Download the OSX binaries here
Download the Linux binaries (64 bit) here
Download the Linux binaries (32 bit) here
Download the ARM Linux binaries (64 bit) here
Download the ARM Linux binaries (32 bit) here


ALL NEW - Groestlcoin Moonshine iOS/Android Wallet

Built with React Native, Moonshine utilizes Electrum-GRS's JSON-RPC methods to interact with the Groestlcoin network.
GRS Moonshine's intended use is as a hot wallet. Meaning, your keys are only as safe as the device you install this wallet on. As with any hot wallet, please ensure that you keep only a small, responsible amount of Groestlcoin on it at any given time.





ALL NEW! – HODL GRS Android Wallet

HODL GRS connects directly to the Groestlcoin network using SPV mode and doesn't rely on servers that can be hacked or disabled.
HODL GRS utilizes AES hardware encryption, app sandboxing, and the latest security features to protect users from malware, browser security holes, and even physical theft. Private keys are stored only in the secure enclave of the user's phone, inaccessible to anyone other than the user.
Simplicity and ease-of-use is the core design principle of HODL GRS. A simple recovery phrase (which we call a Backup Recovery Key) is all that is needed to restore the user's wallet if they ever lose or replace their device. HODL GRS is deterministic, which means the user's balance and transaction history can be recovered just from the backup recovery key.



Main Release (Main Net)
Testnet Release


ALL NEW! – GroestlcoinSeed Savior

Groestlcoin Seed Savior is a tool for recovering BIP39 seed phrases.
This tool is meant to help users with recovering a slightly incorrect Groestlcoin mnemonic phrase (AKA backup or seed). You can enter an existing BIP39 mnemonic and get derived addresses in various formats.
To find out if one of the suggested addresses is the right one, you can click on the suggested address to check the address' transaction history on a block explorer.


Live Version (Not Recommended)





ALL NEW! – Vanity Search Vanity Address Generator

NOTE: NVidia GPU or any CPU only. AMD graphics cards will not work with this address generator.
VanitySearch is a command-line Segwit-capable vanity Groestlcoin address generator. Add unique flair when you tell people to send Groestlcoin. Alternatively, VanitySearch can be used to generate random addresses offline.
If you're tired of the random, cryptic addresses generated by regular groestlcoin clients, then VanitySearch is the right choice for you to create a more personalized address.
VanitySearch is a groestlcoin address prefix finder. If you want to generate safe private keys, use the -s option to enter your passphrase which will be used for generating a base key as for BIP38 standard (VanitySearch.exe -s "My PassPhrase" FXPref). You can also use VanitySearch.exe -ps "My PassPhrase" which will add a crypto secure seed to your passphrase.
VanitySearch may not compute a good grid size for your GPU, so try different values using -g option in order to get the best performances. If you want to use GPUs and CPUs together, you may have best performances by keeping one CPU core for handling GPU(s)/CPU exchanges (use -t option to set the number of CPU threads).






ALL NEW! – Groestlcoin EasyVanity 2020

Groestlcoin EasyVanity 2020 is a windows app built from the ground-up and makes it easier than ever before to create your very own bespoke bech32 address(es) when whilst not connected to the internet.
If you're tired of the random, cryptic bech32 addresses generated by regular Groestlcoin clients, then Groestlcoin EasyVanity2020 is the right choice for you to create a more personalised bech32 address. This 2020 version uses the new VanitySearch to generate not only legacy addresses (F prefix) but also Bech32 addresses (grs1 prefix).




Remastered! – Groestlcoin WPF Desktop Wallet (v2.19.0.18)

Groestlcoin WPF is an alternative full node client with optional lightweight 'thin-client' mode based on WPF. Windows Presentation Foundation (WPF) is one of Microsoft's latest approaches to a GUI framework, used with the .NET framework. Its main advantages over the original Groestlcoin client include support for exporting blockchain.dat and including a lite wallet mode.
This wallet was previously deprecated but has been brought back to life with modern standards.


Remastered Improvements



ALL NEW! – BIP39 Key Tool

Groestlcoin BIP39 Key Tool is a GUI interface for generating Groestlcoin public and private keys. It is a standalone tool which can be used offline.



Linux :
 pip3 install -r requirements.txt python3 bip39\_gui.py 


ALL NEW! – Electrum Personal Server

Groestlcoin Electrum Personal Server aims to make using Electrum Groestlcoin wallet more secure and more private. It makes it easy to connect your Electrum-GRS wallet to your own full node.
It is an implementation of the Electrum-grs server protocol which fulfils the specific need of using the Electrum-grs wallet backed by a full node, but without the heavyweight server backend, for a single user. It allows the user to benefit from all Groestlcoin Core's resource-saving features like pruning, blocks only and disabled txindex. All Electrum-GRS's feature-richness like hardware wallet integration, multi-signature wallets, offline signing, seed recovery phrases, coin control and so on can still be used, but connected only to the user's own full node.
Full node wallets are important in Groestlcoin because they are a big part of what makes the system be trust-less. No longer do people have to trust a financial institution like a bank or PayPal, they can run software on their own computers. If Groestlcoin is digital gold, then a full node wallet is your own personal goldsmith who checks for you that received payments are genuine.
Full node wallets are also important for privacy. Using Electrum-GRS under default configuration requires it to send (hashes of) all your Groestlcoin addresses to some server. That server can then easily spy on your transactions. Full node wallets like Groestlcoin Electrum Personal Server would download the entire blockchain and scan it for the user's own addresses, and therefore don't reveal to anyone else which Groestlcoin addresses they are interested in.
Groestlcoin Electrum Personal Server can also broadcast transactions through Tor which improves privacy by resisting traffic analysis for broadcasted transactions which can link the IP address of the user to the transaction. If enabled this would happen transparently whenever the user simply clicks "Send" on a transaction in Electrum-grs wallet.
Note: Currently Groestlcoin Electrum Personal Server can only accept one connection at a time.



Linux / OSX (Instructions)


UPDATED – Android Wallet 7.38.1 - Main Net + Test Net

The app allows you to send and receive Groestlcoin on your device using QR codes and URI links.
When using this app, please back up your wallet and email them to yourself! This will save your wallet in a password protected file. Then your coins can be retrieved even if you lose your phone.



Main Net
Main Net (FDroid)
Test Net


UPDATED – Groestlcoin Sentinel 3.5.06 (Android)

Groestlcoin Sentinel is a great solution for anyone who wants the convenience and utility of a hot wallet for receiving payments directly into their cold storage (or hardware wallets).
Sentinel accepts XPUB's, YPUB'S, ZPUB's and individual Groestlcoin address. Once added you will be able to view balances, view transactions, and (in the case of XPUB's, YPUB's and ZPUB's) deterministically generate addresses for that wallet.
Groestlcoin Sentinel is a fork of Groestlcoin Samourai Wallet with all spending and transaction building code removed.




UPDATED – P2Pool Test Net



Pre-Hosted Testnet P2Pool is available via http://testp2pool.groestlcoin.org:21330/static/


submitted by Yokomoko_Saleen to groestlcoin [link] [comments]

04-06 12:34 - 'Mining BTC in Containers: malware' (self.Bitcoin) by /u/69676f72 removed from /r/Bitcoin within 83-93min

Cybersecurity researchers have identified a persistent and ambitious campaign that targets thousands of Docker servers daily with a Bitcoin (BTC) miner.
In a report published on April 3, Aqua Security issued a threat alert over the attack, which has ostensibly “been going on for months, with thousands of attempts taking place nearly on a daily basis.” The researchers warn:
“These are the highest numbers we’ve seen in some time, far exceeding what we have witnessed to date.”
Such scope and ambition indicate that the illicit Bitcoin mining campaign is unlikely to be “an improvised endeavor,” as the actors behind it must be relying on significant resources and infrastructure.
Kinsing malware attack volumes, Dec. 2019-March 2020
Kinsing malware attack volumes, Dec. 2019-March 2020. Source: Aqua Security blog
Using its virus analysis tools, Aqua Security has identified the malware as a Golang-based Linux agent, known as Kinsing. The malware propagates by exploiting misconfigurations in Docker API ports. It runs an Ubuntu container, which downloads Kinsing and then attempts to spread the malware to further containers and hosts.
The campaign’s end-goal — achieved by first exploiting the open port and then carrying through with a series of evasion tactics — is to deploy a crypto miner on the compromised host, the researchers say.
Infographic showing the full flow of a Kinsing attack
Infographic showing the full flow of a Kinsing attack. Source: Aqua Security blog
Security teams need to up their game, says Aqua
Aqua’s study provides detailed insight into the components of the malware campaign, which stands out as a forceful example of what the firm claims is “the growing threat to cloud native environments.”
Attackers are upping their game to mount ever more sophisticated and ambitious attacks, the researchers note. In response, enterprise security teams need to develop a more robust strategy to mitigate these new risks.
Among their recommendations, Aqua proposes that teams identify all cloud resources and group them in a logical structure, review their authorization and authentication policies, and adjust basic security policies according to a principle of “least privilege.”
Teams should also investigate logs to locate user actions that register as anomalies, as well as implement cloud security tools to strengthen their strategy.
Growing awareness
Last month, Singapore-based unicorn startup Acronis published the results of its latest cybersecurity survey. It revealed that 86% of IT professionals are concerned about cryptojacking — the industry term for the practice of using a computer’s processing power to mine for cryptocurrencies without the owner’s consent or knowledge.
Mining BTC in Containers: malware
Go1dfish undelete link
unreddit undelete link
Author: 69676f72
submitted by removalbot to removalbot [link] [comments]

I found a $600k BCH theft that has gone unnoticed

Hello all, I'm (among other things) a graduate student getting a master's degree in cybersecurity. This last quarter for one of my classes, I was tasked to examine and recreate an exploit. For the actual exploit I was examining the "anyone can spend" segwit addresses on the BCH chain, and in my research I found a $600k theft that seems to have gone completely unnoticed.
You all might recall this $600k theft of segwit addresses, but it happened again in mid-February 2018 and there has been zero news about it.
BCH block 517171 contains solely segwit-stealing transactions. If you look at any given transaction, the inputs are all segwit program hashes spending a P2SH segwit output. I only caught it by accident, as I was originally going to talk about the publicized November attack.
The interesting thing I discovered about this was that it's harder to have stolen that segwit money than most people think. Both Unlimited and ABC nodes do not relay segwit-spending transactions, and Bitcoin ABC hard-coded in fRequireStandard, so you couldn't even force-relay them with a conf option. On top of that, miners keep their node IPs private for obvious avoiding-ddos-and-sybil-attack reasons, which means it's impossible to directly send transactions to miners. This means that the only way to actually execute this attack was to setup one's own mining pool running on a custom-modified client to allow non-standard transactions. Then you'd have to get enough hash power to mine a block yourself. I estimated the cost of renting enough hash power to do this at the time as around $30k-$60k to have a greater than 90% chance of mining a block within a 3 month window.
In order to simulate the attack, I spun up BTC, LTC, and BCH nodes in Docker, and wrote a Python script. The Python script started at segwit activation on BTC and LTC and it scanned every transaction in every block looking for P2SH segwit inputs as well as native segwit outputs, since these are the necessary hash pre-images to spend P2SH segwit money on the BCH chain. The script then also scanned the BCH chain for any native segwit outputs, as well as recording all P2SH outputs. (This was all saved in a MySQL database.) Then, at any point in time, I could simply query for BCH unspent native segwit outputs as well as P2SH outputs for which I had a known segwit hash pre-image. (If this was an attack I was doing real-time, I would probably also have a large mempool on each node and monitor unconfirmed tx's for useful info as well, but since this was after the fact, I just queried blocks sequentially.)
For the mining node that runs the pool, it would need to be firewalled behind (i.e. only connected to) an unmodified node in blocks-only mode, so that the segwit hash pre-images aren't transmitted out to the network, and so that no other unconfirmed transactions are transmitted in to the mining node. (The mining node should only be filling its block with segwit tx's in order to maximize the gain from the attack.)
Then a script should run continuously to grab segwit utxos from the MySQL database and construct high-fee transactions to send directly to the mining node. Unlike the November attack, each input should be spent in its own individual transaction, so that in the event it is individually spent, I don't negate a tx with other inputs. The overhead on having different transactions for each input is only about 8 extra bytes (the tx version and the locktime), so I think this is a good trade-off.
Then, the attacker simply rents hashing power and points it at his secret pool.
By the time February rolled around and the attack happened, my MySQL database had about 40 million BCH P2SH outputs and each query took about 3 minutes to execute. This of course would have been fine in the 10-minute block world of Bitcoin and BCH, but it means that I stopped my Python script after that time, so I don't know about any possible other attacks that happened before the clean stack rule was hard-forked into BCH.
It was pretty interesting to work through how this attack must have happened, and it was significantly harder to execute than I thought it would be given that all the money was "anyone can spend".
However, the most interesting thing about all this is that nobody has noticed. There is literally no news or mention of block 517171 or any of the transactions in it. My theory is that it is money that nobody misses -- i.e. misprogrammed custom wallet software for BTC nodes accidentally also sent out BCH transactions to the same address, given that BTC and BCH shared the same history until August 2017. And whatever person or entity is running those nodes is only thinking about BTC money and is completely oblivious to its misprogrammed problem of shipping BCH to segwit P2SH addresses.
Obviously, that's just a theory, but I think it's pretty reasonable. Given the intense community divide, I think it's very possible that a number of BTC users simply ignored money on the BCH chain, even though it's "free money" for them, simply out of ideological hatred.
Whatever the case, nobody has posted anywhere complaining of money stolen in that block. It seems to have gone completely unnoticed. (Which is why I'm posting this.) It was an interesting case study and I'd be curious to hear if anybody has any addition information or thoughts about it. I believe this was a different person than the November theft, because the way it was done was different -- the November theft had all the money in one transaction, but this February theft was done with separate individual transactions. Additionally worth noting is that the address which received the bulk of the money is still active, which means they're still out there.
Anyway, I thought this was interesting and worth posting.
submitted by exmachinalibertas to btc [link] [comments]

I'm trying to put together a list of what's coming out this year. Have this very simple list so far. Anyone care to add anything or suggest some better dates?

Latest News (most recent first) - Instant channels enable safe Lightning payments with unconfirmed funding Beta - Feb 10, 2019 - Voyager, New trading app from Uber & E-Trade execs announce launch date - Feb 9, 2019 - bumi/blockstream_satellite ruby gem for the Blockstream Satellite API - Feb 8, 2019 - New Zap Desktop 0.3.4 is out. New features, massive performance - Feb 8, 2019 - New release: @lightning desktop app v0.4.0-alpha - Feb 8, 2019 - valerio-vaccaro/Liquid-dashboard - Feb 7, 2019 - Japanese SBI Holdings will allow trading of coins - March 2019 - lnd v0.5.2-beta released - Feb 6, 2019 - Koala studios launches online LN gaming platform - Feb 6, 2019 - Independent Reserve has become the first #crypto exchange in Australia to be insured, with coverage underwritten by Lloyd's of London. - Feb 6, 2019 - Coinbase announces BTC support for their mobile (keep your own keys) wallet - Feb 6, 2019 - Blockstream published a new open source Proof of Reserves tool. - Feb 5, 2019 - RTL release v0.1.14-alpha - Feb 5, 2019 - dr-orlovsky/typhon-spec spec for new trestles side chain published - Feb 5, 2019 - Payment requests coming soon to BTCPay. - Feb 5th, 2019 - Kraken Acquires Futures Startup In Deal Worth At Least $100 Million - Feb 5th, 2019 - Next Blockchain cruise scheduled for June 9-13 - Feb 4, 2019 - Work on a GoTenna plugin to Electrum wallet in progress - Feb 4, 2019 - Bitcoin Candy Dispensers being open sourced - Feb 4, 2019 - New release of JoinMarket v0.5.3 - Feb 4, 2019 - Prime Trust won’t charge its clients to custody digital assets any longer. - Feb 4, 2019 - nodogsplash/nodogsplash wifi access using LN - Feb 3, 2019 - @tippin_me Receive tips using Lightning Network adds message feature - Feb 3, 2019 - Bitcoin-for-Taxes Bill in NH Unanimously Approved by House Subcommittee - Feb 3, 2019 - Full support for native segwit merged into bitcoinj - Feb 3, 2019 - Bitfury is partnering with financial services firm Final Frontier! - Feb 2, 2019 - Now you can open #LightningNetwork channels in @LightningJoule - Feb 2, 2019 - Integrating Blockstream’s Liquid payments on SideShift AI - Feb 1, 2019 - Wyoming legislature passes bill to recognize cryptocurrency as money - Feb 1, 2019 - Casa is open sourcing the code for the Casa Node - Feb 1, 2019 - Casa Browser Extension released - v0.5.2-beta-rc6 of lnd, full release getting very close now - Feb 1, 2019 - Tallycoin adds subscriptions and paywall features in bid to rival Patreon - Jan 31, 2019 - Static channel backup PR merged into LN - Jan 31, 2019 - The NYDFS grants another Bitlicense to ATM operator - Jan 31, 2019 - @pwuille currently proposing the “MiniScript” language to describe BTC output locking conditions for practical composition - Jan 31, 2019 - Fidelity is in the “final testing” phase for its new digital asset business - Jan 31, 2019 - Hardware wallet PR #109 just got merged so that @Trezor no longer requires user interaction for PIN - Jan 31, 2019 - CBOE, VanEck & SolidX filed a new & improved bitcoin ETF proposal. - Jan 31, 2019 - Casa Node code is now open sourced - Jan 31, 2019 - Next Bitoin halving in roughly 497 days - Jan 31, 2019 - BTCPay released - Jan 31, 2019 - @binance now lets users purchase cryptos using Visa and Mastercard credit. - Jan 31, 2019 - Bitfury to Launch Bitcoin Operations in Paraguay - Jan 31, 2019 - Coinbase introduces very generous affiliate program - Jan 30, 2019 - DOJO Trusted Node bitcoin full node. Coming Early 2019 - Jan 30, 2019 - FastBitcoins.com Enables Cash-for-Bitcoin Exchange Via the Lightning Network - Jan 30, 2019 - TD Ameritrade says clients want cryptocurrency investment options - company plans major announcement in 'first half of 2019' - Jan 30, 2019 - Storage component of Fidelity's @DigitalAssets live, with some assets under management, @nikhileshde - Jan 29, 2019 - lightning mainnet has reached 600 BTC capacity - Jan 29, 2019 - Drivechain shows picture of Grin side chain and suggests might be ready in 2 month - Jan 29, 2019 - Lightning labs iOS neutrino wallet in testing stage now - Jan 29, 2019 - Aliant offering cryptocurrency processing free-of-charge - Jan 29, 2019 - Chainstone’s Regulator product to manage assets on the way - Jan 29, 2019 - Fidelity Investments’ new crypto custody service may officially launch in March. - Jan 29, 2019 - Gemini's becomes FIRST crypto EXCHANGE and CUSTODIAN to complete a SOC 2 Review by Deloitte - Jan 29, 2019 - Iran has lifted the ban on Bitcoin and cryptocurrency - Jan 29, 2019 - Confidential Transactions being added into Litecoin announcement - Jan 28, 2019 - http://FastBitcoins.com Enables Cash-for-Bitcoin Exchange Via the Lightning Network - Jan 28, 2019 - Germany’s largest online food delivery platform now accepts btc - Jan 27, 2019 - Launching a Bitcoin Developers School in Switzerland - Jan 27, 2019 - RTL release v0.1.13-alpha Lightning Build repository released - Jan 27, 2019 - The first pay-per-page fantasy novel available to Lightning Network. - Jan 27, 2019 - Numerous tools become available to write messages transmitted with Blockstream Satellite - Jan 26, 2019; - BTCPay released - Jan 26,2019 - WordPress + WooCommerce + BTCPay Plugin is now live - Jan 25, 2019 - Juan Guaido has been promoting #Bitcoin since 2014 is new interim president of Venezuela - Jan 25, 2019 - Morgan Creek funds @RealBlocks - Jan 25, 2019 - Coinbase integrates TurboTax - Jan 25, 2019 - Robinhood received Bitlicense - Jan 25, 2019 - Anchor Labs launches custody - Jan 25, 2019 - NYSE Arca files w/ @BitwiseInvest for BTC ETF approval - Jan 25, 2019 - South Korea, Seoul, Busan & Jeju Island currently working to create pro crypto economic zones. - Jan 25, 2019 - valerio-vaccaro/Liquid-dashboard - Jan 25, 2019 - Bermuda to launch crypto friendly bank - Jan 25, 2019 - Mobile Bitcoin Wallet BRD Raises $15 Million, Plans for Expansion in Asia - Jan 25, 2019 - BullBitcoin rolling out alpha access of platform - Jan 25, 2019 - Electrum Wallet Release 3.3.3 - Jan 25, 2019 - Bitrefill, purchase Bitcoin and have it delivered directly over LN - Jan 25, 2019 - South Korean crypto exchange Bithumb looking to go public in USA - Jan 24, 2019 - Bitcoin Exchanges Don’t Need Money Transmitter Licenses in Pennsylvania - Jan 24, 2019 - US; New Hampshire Bill Aims to Legalize Bitcoin for State Payments in 2020 - Jan 24, 2019 - Robinhood, LibertyX Receive Licenses from New York Regulators - Jan 24, 2019 - Bakkt Bitcoin futures contract details released - Jan 24, 2019 - Blockstream CryptoFeed V3 now includes 30+ venues and 200M+ updates per day - Jan 24, 2019 - Binance Jersey – The Latest Binance European Exchange - Jan 2019
Commit Activity
Nodes and Market Dominance
ASIC Miners:
Will update this section when I hear new developments
Hardware wallets:
LN Apps:
LN Extensions / Launchers
LN Desktop wallets:
LN Mobile wallets:
LN Network:
LN Nodes:
LN Plugins:
LN Services:
Liquid Network
Please comment if you have any ideas on dates. Many of these dates are placeholders waiting for me to update. If you comment then I will update the post.
submitted by kolinHall to Bitcoin [link] [comments]

As a core supporter, how can WE help the network?

200k subscribers here, what can WE do to help the core network? (At little or no cost to us)
Could I just run a 'full node' on my pc and keep that running?
submitted by turbotyler786 to Bitcoin [link] [comments]

Function X: A Concept Paper introducing the f(x) ecosystem, a universal decentralized internet powered by blockchain technology and smart devices

Function X: A Concept Paper introducing the f(x) ecosystem, a universal decentralized internet powered by blockchain technology and smart devices



This is a Concept Paper written to introduce the Function X Ecosystem, which includes the XPhone. It also addresses the relationship between the XPOS and Function X.
Pundi X has always been a community-driven project. We have lived by the mission of making sure the community comes first and we are constantly learning from discussions and interactions on social media and in real-life meetings.
As with all discussions, there is always background noise but we have found gems in these community discussions. One such example is a question which we found constantly lingering at the back of our mind, “Has blockchain changed the world as the Internet did in the ’90s, and the automobile in the ‘20s?”. Many might argue that it has, given the rise of so many blockchain projects with vast potential in different dimensions (like ours, if we may add). But the question remains, “can blockchain ever become what the Internet, as we know it today, has to the world?”
Function X, a universal decentralized internet which is powered by blockchain technology and smart devices.
Over the past few months, in the process of implementing and deploying the XPOS solution, we believe we found the answer to the question. A nimble development team was set up to bring the answer to life. We discovered that it is indeed possible to bring blockchain to the world of telephony, data transmission, storage and other industries; a world far beyond financial transactions and transfers.
This is supported by end-user smart devices functioning as blockchain nodes. These devices include the XPOS and XPhone developed by Pundi X and will also include many other hardware devices manufactured by other original equipment manufacturers.
The vision we want to achieve for f(x) is to create a fully autonomous and decentralized network that does not rely on any individual, organization or structure.
Due to the nature of the many new concepts introduced within this Concept Paper, we have included a Q&A after each segment to facilitate your understanding. We will continuously update this paper to reflect the progress we’re making.

Function X: The Internet was just the beginning

The advent of the Internet has revolutionized the world. It created a communications layer so robust that it has resulted in TCP/IP becoming the network standard.
The Internet also created a wealth of information so disruptive that a company like Amazon threatened to wipe out all the traditional brick-and-mortar bookstores. These bookstores were forced to either adapt or perish. The same applies to the news publishing sector: the offerings of Google and Facebook have caused the near extinction of traditional newspapers.
The digitalization of the world with the Internet has enabled tech behemoths like Apple, Amazon, Google and Facebook to dominate and rule over traditional companies. The grip of these tech giants is so extensive that it makes you wonder if the choices you make are truly your own or influenced by the data they have on you as a user.
We see the blockchain revolution happening in three phases. The first was how Bitcoin showed the world what digital currency is. The second refers to how Ethereum has provided a platform to build decentralized assets easily. The clearest use case of that has come in the form of the thousands of altcoins seen today that we all are familiar with. The third phase is what many blockchain companies are trying to do now: 1) to bring the performance of blockchain to a whole new level (transaction speed, throughput, sharding, etc.) and 2) to change the course of traditional industries and platforms—including the Internet and user dynamics.
Public blockchains allow trustless transactions. If everything can be transacted on the blockchain in a decentralized manner, the information will flow more efficiently than traditional offerings, without the interception of intermediators. It will level the playing field and prevent data monopolization thus allowing small innovators to develop and flourish by leveraging the resources and data shared on the blockchain.

The Blockchain revolution will be the biggest digital revolution

In order to displace an incumbent technology with something new, we believe the change and improvement which the new technology has to bring will have to be at least a tenfold improvement on all aspects including speed, transparency, scalability and governance (consensus). We are excited to say that the time for this 10-times change is here. It’s time to take it up 10x with Function X.
Function X or f(x) is an ecosystem built entirely on and for the blockchain. Everything in f(x) (including the application source code, transmission protocol and hardware) is completely decentralized and secure. Every bit and byte in f(x) is part of the blockchain.
What we have developed is not just a public chain. It is a total decentralized solution. It consists of five core components: Function X Operating System (OS); Function X distributed ledger (Blockchain); Function X IPFS; FXTP Protocol and Function X Decentralized Docker. All five components serve a single purpose which is to decentralize all services, apps, websites, communications and, most importantly, data.
The purpose of Function X OS is to allow smart hardware and IoTs to harness the upside and potential utility of the decentralization approach. We have built an in-house solution for how mobile phones can leverage Function X OS in the form of the XPhone. Other companies can also employ the Function X OS and further customize it for their own smart devices. Every smart device in the Function X ecosystem can be a node and each will have its own address and private key, uniquely linked to their node names. The OS is based on the Android OS 9.0, therefore benefiting from backward compatibility with Android apps. The Function X OS supports Android apps and Google services (referred to as the traditional mode), as well as the newly developed decentralized services (referred to as the blockchain mode). Other XPhone features powered by the Function X OS will be elaborated on in the following sections.
Using the Function X Ecosystem (namely Function X FXTP), the transmission of data runs on a complex exchange of public and private key data and encryption but never through a centralized intermediary. Hence it guarantees communication without interception and gives users direct access to the data shared by others. Any information that is sent or transacted over the Function X Blockchain will also be recorded on the chain and fully protected by encryption so the ownesender has control over data sharing. And that is how a decentralized system for communications works.
For developers and users transitioning to the Function X platform, it will be a relatively seamless process. We have intentionally designed the process of creating and publishing new decentralized applications (DApps) on Function X to be easy, such that the knowledge and experience from developing and using Android will be transferable. With that in mind, a single line of code in most traditional apps can be modified, and developers can have their transmission protocol moved from the traditional HTTP mode (centralized) to a decentralized mode, thus making the transmission “ownerless” because data can transmit through the network of nodes without being blocked by third parties. How services can be ported easily or built from scratch as DApps will also be explained in the following sections, employing technologies in the Function X ecosystem (namely Function X IPFS, FXTP Protocol and Decentralized Docker).

f(x) Chain

f(x) chain is a set of consensus algorithms in the form of a distributed ledger, as part of the Function X ecosystem. The blockchain is the building block of our distributed ledger that stores and verifies transactions including financials, payments, communications (phone calls, file transfers, storage), services (DApps) and more.
Will Function X launch a mainnet?
Yes. The f(x) chain is a blockchain hence there will be a mainnet.
When will the testnet be launched?
Q2 2019 (projected).
When will the mainnet be launched?
Q3 2019 (projected).
How is the Function X blockchain designed?
The f(x) chain is designed based on the philosophy that any blockchain should be able to address real-life market demand of a constantly growing peer-to-peer network. It is a blockchain with high throughput achieved with a combination of decentralized hardware support (XPOS, XPhone, etc.) and open-source software toolkit enhancements.
What are the physical devices that will be connected to the Function X blockchain?
In due course, the XPOS OS will be replaced by the f(x) OS. On the other hand, the XPhone was designed with full f(x) OS integration in mind, from the ground up. After the f(x) OS onboarding, and with adequate stability testings and improvements, XPOS and XPhone will then be connected to the f(x) Chain.
What are the different elements of a block?
Anything that is transmittable over the distributed network can be stored in the block, including but not limited to phone call records, websites, data packets, source code, etc. It is worth noting that throughout these processes, all data is encrypted and only the owner of the private key has the right to decide how the data should be shared, stored, decrypted or even destroyed.
Which consensus mechanism is used?
Practical Byzantine Fault Tolerance (PBFT).
What are the other implementations of Practical Byzantine Fault Tolerance (PBFT)?
Flight systems that require very low latency. For example, SpaceX’s flight system, Dragon, uses PBFT design philosophy. [Appendix]
How do you create a much faster public chain?
We believe in achieving higher speed, thus hardware and software configurations matter. If your hardware is limited in numbers or processing power, this will limit the transaction speed which may pose security risks. The Ethereum network consists of about 25,000 nodes spread across the globe now, just two years after it was launched. Meanwhile, the Bitcoin network currently has around 7,000 nodes verifying the network. As for Pundi X, with the deployment plan (by us and our partners) for XPOS, XPhone and potentially other smart devices, we anticipate that we will be able to surpass the number of Bitcoin and Ethereum nodes within 1 to 2 years. There are also plans for a very competitive software implementation of our public blockchain, the details for which we will be sharing in the near future.

f(x) OS

The f(x) OS is an Android-modified operating system that is also blockchain-compatible. You can switch seamlessly between the blockchain and the traditional mode. In the blockchain mode, every bit and byte is fully decentralized including your calls, messages, browsers and apps. When in traditional mode, the f(x) OS supports all Android features.
Android is the most open and advanced operating system for smart hardware with over 2 billion monthly active users. Using Android also fits into our philosophy of being an OS/software designer and letting third-party hardware makers produce the hardware for the Function X Ecosystem.
What kind of open source will it be?
This has not been finalized, but the options we are currently considering are Apache or GNU GPLv3.
What kind of hardware will it work on?
The f(x) OS works on ARM architecture, hence it works on most smartphones, tablet computers, smart TVs, Android Auto and smartwatches in the market.
Will you build a new browser?
We are currently using a modified version of the Google Chrome browser. The browser supports both HTTP and FXTP, which means that apart from distributed FXTP contents, users can view traditional contents, such ashttps://www.google.com.
What is the Node Name System (NNS)?
A NNS is a distributed version of the traditional Domain Name System. A NNS allows every piece of Function X hardware, including the XPhone, to have a unique identity. This identity will be the unique identifier and can be called anything with digits and numbers, such as ‘JohnDoe2018’ or ‘AliceBob’. More on NNS in the following sections.
Will a third-party device running the f(x) OS be automatically connected to the f(x) blockchain?
Yes, third-party devices will be connected to the f(x) blockchain automatically.

f(x) FXTP

A transmission protocol defines the rules to allow information to be sent via a network. On the Internet, HTTP is a transmission protocol that governs how information such as website contents can be sent, received and displayed. FXTP is a transmission protocol for the decentralized network.
FXTP is different from HTTP because it is an end-to-end transmission whereby your data can be sent, received and displayed based on a consensus mechanism rather than a client-server based decision-making mechanism. In HTTP, the server (which is controlled by an entity) decides how and if the data is sent (or even monitored), whereas in FXTP, the data is sent out and propagates to the destination based on consensus.
HTTP functions as a request–response protocol in the client-server computing model. A web browser, for example, may be the client and an application running on a computer hosting a website may be the server. FXTP functions as a propagation protocol via a consensus model. A node that propagates the protocol and its packet content is both a “client” and a “server”, hence whether a packet reaches a destination is not determined by any intermediate party and this makes it more secure.

f(x) IPFS

IPFS is a protocol and network designed to store data in a distributed system. A person who wants to retrieve a file will call an identifier (hash) of the file, IPFS then combs through the other nodes and supplies the person with the file.
The file is stored on the IPFS network. If you run your own node, your file would be stored only on your node and available for the world to download. If someone else downloads it and seeds it, then the file will be stored on both your node the node of the individual who downloaded it (similar to BitTorrent).
IPFS is decentralized and more secure, which allows faster file and data transfer.

f(x) DDocker

Docker is computer program designed to make it easier to create, deploy, and run applications. Containers allow a developer to package up an application including libraries, and ship it all out as a package.
As the name suggests, Decentralized Docker is an open platform for developers to build, ship and run distributed applications. Developers will be able to store, deploy and run their codes remote in different locations and the codes are secure in a decentralized way.


Beyond crypto: First true blockchain phone that is secured and decentralized to the core
XPhone is the world’s first blockchain phone which is designed with innovative features that are not found on other smartphones.
Powered by Function X, an ecosystem built entirely on and for the blockchain, XPhone runs on a new transmission protocol for the blockchain age. The innovation significantly expands the use of blockchain technology beyond financial transfers.
Unlike traditional phones which require a centralized service provider, XPhone runs independently without the need for that. Users can route phone calls and messages via blockchain nodes without the need for phone numbers.
Once the XPhone is registered on the network, for e.g., by a user named Pitt, if someone wants to access Pitt’s publicly shared data or content, that user can just enter FXTP://xxx.Pitt. This is similar to what we do for the traditional https:// protocol.
Whether Pitt is sharing photos, data, files or a website, they can be accessed through this path. And if Pitt’s friends would like to contact him, they can call, text or email his XPhone simply by entering “call.pitt”, “message.pitt”, or “mail.pitt”.
The transmission of data runs on a complex exchange of public and private key data with encryption. It can guarantee communication without interception and gives users direct access to the data shared by others. Any information that is sent or transacted over the Function X Blockchain will also be recorded on the chain.
Toggle between now and the future
Blockchain-based calling and messaging can be toggled on and off on the phone operating system which is built on Android 9.0. XPhone users can enjoy all the blockchain has to offer, as well as the traditional functionalities of an Android smartphone.
We’ll be sharing more about the availability of the XPhone and further applications of Function X in the near future.


DApps for mass adoption
So far the use of decentralized applications has been disappointing. But what if there was a straightforward way to bring popular, existing apps into a decentralized environment, without rebuilding everything? Until now, much of what we call peer-to-peer or ‘decentralized’ services continue to be built on centralized networks. We set out to change that with Function X; to disperse content now stored in the hands of the few, and to evolve services currently controlled by central parties.
Use Cases: Sharing economy
As seen from our ride-hailing DApp example that was demonstrated in New York back in November 2018, moving towards true decentralization empowers the providers of services and not the intermediaries. In the same way, the XPhone returns power to users over how their data is being shared and with whom. Function X will empower content creators to determine how their work is being displayed and used.
Use Cases: Free naming
One of the earliest alternative cryptocurrencies, Namecoin, wanted to use a blockchain to provide a name registration system, where users can register their names to create a unique identity. It is similar to the DNS system mapping to IP addresses. With the Node Name System (NNS) it is now possible to do this on the blockchain.
NNS is a distributed version of the traditional Domain Name System. A NNS allows every piece of Function X hardware, including the XPhone, to have a unique identifier that can be named anything with digits and numbers, such as ‘JohnDoe2018’ or ‘AliceBob’.
Use Cases: Mobile data currency
According to a study, mobile operator data revenues are estimated at over $600 billion USD by 2020, equivalent to $50 billion USD per month [appendix]. Assuming users are able to use services such as blockchain calls provided by XPhone (or other phones using Function X) the savings will be immense and the gain from profit can be passed on to providers such as DApp developers in Function X. In other words, instead of paying hefty bills to a mobile carrier for voice calls, users can pay less by making blockchain calls, and the fees paid are in f(x) coins. More importantly users will have complete privacy over their calls.
Use Cases: Decentralized file storage
Ethereum contracts claim to allow for the development of a decentralized file storage ecosystem, “where individual users can earn small quantities of money by renting out their own hard drives and unused space can be used to further drive down the costs of file storage.” However, they do not necessarily have the hardware to back this up. With the deployment of XPOS, smart hardware nodes and more, Function X is a natural fit for Decentralized File Storage. In fact, it is basically what f(x) IPFS is built for.
These are just four examples of the many use cases purported, and there can, will and should be more practical applications beyond these; we are right in the middle of uncharted territories.


Decentralized and autonomous
The f(x) ecosystem is fully decentralized. It’s designed and built to run autonomously in perpetuity without the reliance or supervision of any individual or organization. To support this autonomous structure, f(x) Coin which is the underlying ‘currency’ within the f(x) ecosystem has to be decentralized in terms of its distribution, allocation, control, circulation and the way it’s being generated.
To get the structure of f(x) properly set up, the founding team will initially act as ‘initiators’ and ‘guardians’ of the ecosystem. The role of the team will be similar to being a gatekeeper to prevent any bad actors or stakeholders playing foul. At the same time, the team will facilitate good players to grow within the ecosystem. Once the f(x) ecosystem is up and running, the role of the founding team will be irrelevant and phased out. The long term intention of the team is to step away, allowing the ecosystem to run and flourish by itself.


In this section, we will explore the utility of the f(x) Coin. f(x) Coin is the native ‘currency’ of the Function X blockchain and ecosystem. All services rendered in the ecosystem will be processed, transacted with, or “fueled” by the f(x) Coin. Some of the proposed use cases include:
  • For service providers: Getting paid by developers, companies and consumers for providing storage nodes, DDocker and improvement of network connections. The role of service providers will be described in greater detail in the rest of the paper.
  • For consumers: Paying for service fees for the DApps, nodes, network resources, storage solutions and other services consumed within the f(x) ecosystem.
  • For developers: Paying for services and resources rendered in the ecosystem such as smart contract creation, file storage (paid to IPFS service provider), code hosting (paid to DDocker service provider), advertisements (paid to other developers) and design works. Developers can also get paid by enterprises or organizations that engaged in the developer’s services.
  • For enterprises or organizations: Paying for services provided by developers and advertisers. Services provided to consumers will be charged and denominated in f(x) Coin.
  • For phone and hardware manufacturers: Paying for further Function X OS customizations. It is worth noting that Pundi X Labs plan to only build a few thousand devices of the XPhone flagship handsets, and leave the subsequent market supply to be filled by third-party manufacturers using our operating system.
  • For financial institutions: receiving payments for financial services rendered in the ecosystem.
  • Applications requiring high throughput.
Hence f(x) Coin can be used as ‘currency’ for the below services,
  • In-app purchases
  • Blockchain calls
  • Smart contract creations
  • Transaction fees
  • Advertisements
  • Hosting fees
  • Borderless/cross-border transactions
We believe f(x) Coin utilization will be invariably higher than other coins in traditional chains due to the breadth of the f(x) ecosystem. This includes storage services and network resources on f(x) that will utilize the f(x) Coin as “fuel” for execution and validation of transactions.
Example 1: A developer creates a ride-hailing DApp called DUber.
DUber developer first uploads the image and data to IPFS (storage) and code to DDocker, respectively. The developer then pays for a decentralized code hosting service provided by the DDocker, and a decentralized file hosting service provided by the IPFS. Please note the storage hosting and code hosting services can be provided by a company, or by a savvy home user with smart nodes connected to the Function X ecosystem. Subsequently, a DUber user pays the developer.
Example 2: User Alice sends an imaginary token called ABCToken to Bob.
ABCToken is created using Function X smart contract. Smart nodes hosted at the home of Charlie help confirms the transaction, Charlie is paid by Alice (or both Alice and Bob).

The flow of f(x) Coin

Four main participants in f(x): Consumer (blue), Developer (blue), Infrastructure (blue), and Financial Service Provider (green)
Broadly speaking, there can be four main participants in the f(x) ecosystem, exhibited by the diagram above:
  • Consumer: Users enjoy the decentralized services available in the f(x) ecosystem
  • Infrastructure Service Provider: Providing infrastructures that make up the f(x) ecosystem such as those provided by mobile carriers, decentralized clouds services.
  • Developer: Building DApp on the f(x) network such as decentralized IT, hospitality and financial services apps.
  • Financial Service Provider: Providing liquidity for the f(x) Coin acting as an exchange.
The f(x) ecosystem’s value proposition:
  • Infrastructure service providers can offer similar services that they already are providing in other markets such as FXTP, DDocker and IPFS, to earn f(x) Coin.
  • Developers can modify their existing Android apps to be compatible with the f(x) OS environment effortlessly, and potentially earn f(x) Coin.
  • Developers, at the same time, also pay for the infrastructure services used for app creation.
  • Consumers immerse in the decentralized app environments and pay for services used in f(x) Coin.
  • Developer and infrastructure service providers can earn rewards in f(x) Coin by providing their services. They can also monetize it through a wide network of financial service providers to earn some profit, should they decide to do so.
Together, the four participants in this ecosystem will create a positive value flow. As the number of service providers grow, the quality of service will be enhanced, subsequently leading to more adoption. Similarly, more consumers means more value is added to the ecosystem by attracting more service providers,and creating f(x) Coin liquidity. Deep liquidity of f(x) Coin will attract more financial service providers to enhance the stability and quality of liquidity. This will attract more service providers to the ecosystem.
Figure: four main participants of the ecosystem The rationale behind f(x) Coin generation is the Proof of Service concept (PoS)
Service providers are crucial in the whole f(x) Ecosystem, the problem of motivation/facilitation has become our priority. We have to align our interests with theirs. Hence, we have set up a Tipping Jar (similar to mining) to motivate and facilitate the existing miners shift to the f(x) Ecosystem and become part of the infrastructure service provider or attract new players into our ecosystem. Income for service provider = Service fee (from payer) + Tipping (from f(x) network generation)
The idea is that the f(x) blockchain will generate a certain amount of f(x) Coin (diminishing annually) per second to different segments of service provider, such as in the 1st year, the f(x) blockchain will generate 3.5 f(x) Coin per second and it will be distributed among the infrastructure service provider through the Proof of Service concept. Every service provider such as infrastructure service providers, developers and financial service providers will receive a ‘certificate’ of Proof of Service in the blockchain after providing the service and redeeming the f(x) Coin.
Example: There are 3 IPFS providers in the market, and the total Tipping Jar for that specific period is 1 million f(x) Coin. Party A contributes 1 TB; Party B contributes 3 TB and Party C contributes 6 TB. So, Party A will earn 1/10 * 1 million = 100k f(x) Coin; Party B will earn 3/10 * 1 million = 300k f(x) Coin. Party C will earn 6/10 * 1 million = 600k f(x) Coin.
Note: The computation method of the distribution of the Tipping Jar might vary due to the differences in the nature of the service, period and party.
Figure: Circulation flow of f(x) Coin
The theory behind the computation.
Blockchain has integrated almost everything, such as storage, scripts, nodes and communication. This requires a large amount of bandwidth and computation resources which affects the transaction speed and concurrency metric.
In order to do achieve the goal of being scalable with high transaction speed, the f(x) blockchain has shifted out all the ‘bulky’ and ‘heavy duty’ functions onto other service providers, such as IPFS, FXTP, etc. We leave alone what blockchain technology does best: Calibration. Thus, the role of the Tipping Jar is to distribute the appropriate tokens to all participants.
Projected f(x) Coin distribution per second in the first year
According to Moore’s Law, the number of transistors in a densely integrated circuit doubles about every 18 -24 months. Thus, the performance of hardware doubles every 18-24 months. Taking into consideration Moore’s Law, Eric Schmidt said if you maintain the same hardware specs, the earnings will be cut in half after 18-24 months. Therefore, the normal Tipping Jar (reward) for an infrastructure service provider will decrease 50% every 18 months. In order to encourage infrastructure service providers to upgrade their hardware, we have set up another iteration and innovation contribution pool (which is worth of 50% of the normal Tipping Jar on the corresponding phase) to encourage the infrastructure service provider to embrace new technology.
According to the Andy-Bill’s law, “What Andy gives, Bill takes away”; software will always nibble away the extra performance of the hardware. The more performance a piece of hardware delivers, the more the software consumes. Thus, the developer will always follow the trend to maintain and provide high-quality service. The Tipping Jar will increase by 50% (based upon the previous quota) every 18 months.
Financial service providers will have to support the liquidation of the whole ecosystem along the journey, the Tipping Jar (FaaS) will increase by 50% by recognizing the contribution and encouraging innovation.
From the 13th year (9th phase), the Tipping Jar will reduce by 50% every 18 months. We are well aware that the “cliff drop” after the 12th year is significant. Hence, we have created a 3year (two-phase) diminishing transition period. The duration of each phase is 18 months. There are 10 phases in total which will last for a total of 15 years.
According to Gartner’s report, the blockchain industry is forecast to reach a market cap of
3.1 trillion USD in 2030. Hence, we believe a Tipping Jar of 15 years will allow the growth of Function X into the “mature life cycle” of the blockchain industry.

f(x) Coin / Token Allocation

Token allocation We believe great blockchain projects attempt to equitably balance the interests of different segments of the community. We hope to motivate and incentivize token holders by allocating a total of 65% of tokens from the Token Generation Event (TGE). Another 20% is allocated to the Ecosystem Genesis Fund for developer partnerships, exchanges and other such related purposes. The remaining 15% will go to engineering, product development and marketing. There will be no public or private sales for f(x) tokens.
NPXS / NPXSXEM is used to make crypto payments as easy as buying bottled water, while f(x) is used for the operation of a decentralized ecosystem and blockchain, consisting of DApps and other services. NPXS / NPXSXEM will continue to have the same functionality and purpose after the migration to the Function X blockchain in the future. Therefore, each token will be expected to assume different fundamental roles and grant different rights to the holders.
65% of allocation for NPXS / NPXSXEM holders is broken down into the following: 15% is used for staking (see below) 45% is used for conversion to f(x) tokens. (see below) 5% is used for extra bonus tasks over 12 months (allocation TBD).

Remarks All NPXS / NPXSXEM tokens that are converted will be removed from the total supply of NPXS / NPXSXEM; Pundi X will not convert company's NPXS for f(x) Tokens. This allocation is designed for NPXS/NPXSXEM long term holders. NPXS / NPXSXEM tokens that are converted will also be entitled to the 15% f(x) Token distribution right after the conversion.


Management of the Ecosystem Genesis Fund (EGF)
The purpose of setting up the Ecosystem Initialization Fund, is to motivate, encourage and facilitate service providers to join and root into the f(x) Ecosystem and, at the same time, to attract seed consumers to enrich and enlarge the f(x) Ecosystem. EIF comes from funds raised and will be used as a bootstrap mechanism to encourage adoption before the Tipping Jar incentives fully kicks in.
The EGF is divided into 5 parts:
  1. Consumer (10%): To attract consumers and enlarge the customer base;
  2. Developer (20%): To encourage developers to create DApps on the f(x) blockchain;
  3. Infrastructure Service Provider (20%): To set up or shift to the f(x) infrastructure;
  4. Financial Service Provider (20%): To create a trading platform for f(x) Coin and increase liquidity; and
  5. Emergency bridge reserve (30%): To facilitate or help the stakeholders in f(x) during extreme market condition
To implement the spirit of decentralization and fairness, the EGF will be managed by a consensus-based committee, called the f(x) Open Market Committee (FOMC).


Time moves fast in the technology world and even faster in the blockchain space. Pundi X’s journey started in October 2017, slightly over a year ago, and we have been operating at a lightning pace ever since, making progress that can only be measured in leaps and bounds. We started as a blockchain payment solution provider and have evolved into a blockchain service provider to make blockchain technology more accessible to the general public, thereby improving your everyday life.
The creation of Function X was driven by the need to create a better suited platform for our blockchain point-of sale network and through that process, the capabilities of Function X have allowed us to extend blockchain usage beyond finance applications like payment solutions and cryptocurrency.
The complete decentralized ecosystem of Function X will change and benefit organizations, developers, governments and most importantly, society as a whole.
The XPhone prototype which we have created is just the start to give everyone a taste of the power of Function X on how you can benefit from a truly decentralized environment. We envision a future where the XPOS, XPhone and other Function X-enabled devices work hand-in-hand to make the decentralized autonomous ecosystem a reality.
You may wonder how are we able to create such an extensive ecosystem within a short span of time? We are fortunate that in today’s open source and sharing economy, we are able to tap onto the already established protocols (such as Consensus algorithm, FXTP, etc), software (like Android, IPFS, PBFT, Dockers, etc.) and hardware (design knowledge from existing experts) which were developed by selfless generous creators. Function X puts together, aggregates and streamlines all the benefits and good of these different elements and make them work better and seamlessly on the blockchain. And we will pay it forward by making Function X as open and as decentralized as possible so that others may also use Function X to create bigger and better projects.
To bring Function X to full fruition, we will continue to operate in a transparent and collaborative way. Our community will continue to be a key pillar for us and be even more vital as we get Function X up and running. As a community member, you will have an early access to the Function X ecosystem through the f(x) token conversion.
We hope you continue to show your support as we are working hard to disrupt the space and re-engineer this decentralized world.


Practical Byzantine Fault Tolerance
Byzantine General Problem technical paper
Global mobile data revenues to reach $630 billion by 2020
NPXSXEM token supply
NPXS circulating token supply and strategic purchaser
[total supply might differ from time to time due to token taken out of total supply aka “burn”]
ELC: SpaceX lessons learned (PBFT mentioned) https://lwn.net/Articles/540368/

Full: https://functionx.io/assets/file/Function_X_Concept_Paper_v2.0.pdf
submitted by crypt0hodl1 to PundiX [link] [comments]

An extensive guide to building your financial sovereignty on Ubuntu 18.04

Hello all,
I have written up an extensive guide on building a node box in Ubuntu 18.04. It's aimed at newcomers who wish to use Linux as an operating system or are thinking about making the switch from Windows to Linux.
It covers the basics of installing, configuring, running and maintaining software related to bitcoin. I add my own commentary to elaborate key points.
It is not aimed to be a 'quick and easy' guide. It's more about learning the process and understanding, something I believe is key to financial sovereignty. Everything is configured manually, no scripts, no dockers, no complex terminal commands that you will find difficult to understand.
My intention is to provide you with the basic skills to get you up and running into the world of bitcoin/lightning network using Ubuntu and from there you can explore what else it has to offer. I aim to make other guides in future as well. I'm thinking guides on Blockstream Satellite, maybe HoneyMiner, and making a fully stacked torrent box/media server.
I will say that by no means am I an expert in all things linux/ubuntu. These are just learnings from my own exploration. For feedback, you can hit me up on twitter (@k3tan88) or leave an issue on the GitHub.
submitted by k3tan to Bitcoin [link] [comments]

part 3: down the NodeRed rabbit hole - resurrection (long)

so, now that i've got about 4 weeks of NR experience under my belt, i thought i would do a follow up and show a few new flows. plus, i've picked up a few new hardware add-ons. namely a Harmony Hub and a coupla Sonoff/Tasmota S31.
one of the new things i did was setup some global.variables i can use in any flow.
1] is pretty obvious, does my bayesian sensors think i'm home/not_home, and then save it to a global.variable.
2] reads the MQTT for my S31 power monitor on my dumb TV. if it's > 100, then the TV is ON, <= 99, then TV is OFF (or in the process of turning off). then set a global.variable for on/off.
3] i changed the day/night temperatures to global.variables.
4] this one gets the current volume level of my Sonos and then stores that to a global.variable. (get to why further below)
5] this one i talked about in another post here: https://www.reddit.com/homeassistant/comments/abvqup/device_tracker_with_unifi2mqtt/
okay, so now that i know if my dumb TV is on/off, then i can add it into my "away" (and "bedtime") flow. that gray one on the bottom right is using the HarmonyHub control node to fire the power toggle. (which i'll get to further below) plus it'll stop my Sonos, if it's playing.
also you may notice the "alexa TTS" one, that's a subflow, which is a bit of reusable flow, you can put anywhere you want it. this one picks a random number between 1 and 10, then alexa TTS plays the corresponding message.
this was also my attempt to get alexa to say "aaaf-firmative" like newt in aliens.
doesn't really work, but i'm determined to make this happen. gonna have to figure out the proper phonetics of it. then i'm totally gonna get her to do a stutter like max headroom on one of the other responses. but, my ultimate goal is to get her to do "twiki" from buck rogers. beaty beaty
anyways, i've also added that subflow to all my switch on/offs. along with an MQTT log.
now for some of the new stuff...
here's a sleep timer. if i'm listening to music in bed, i can activate this with "alexa turn on sleep" and what it does, is it takes the current volume level of my Sonos, stored in a global.var, stores it in a flow.var, then subtracts 1 every minute, until it reaches zero. if the volume is at 30, then it'll be 30 mins until zero.
once it reaches zero, it stops the music, sets the volume back to the original state (ie: 30) and then turns itself off.
there's an issue when you use something like a Harmony Hub to turn on/off dumb devices via input_bool, or switches, or lights, etc.: that once you turn it on via NR, HA, HHub, Alexa, etc., then HA thinks it's on. if you then turn it off via the device remote, HA won't let you turn it on again, because HA thinks its already on.
so, i had to use a script and a "dummy" input_boolean. by dummy i mean, that i do not care, and will not EVER care, what it's state is. on. off. whatever. won't need it. it just needs to be there for the script to work.
input_boolean: mac_x: game_x: candles_x: tv_x: 
hide them from emu_hue, cause Alexa doesn't need to see them either.
emulated_hue: host_ip: 10.xx.xx.xx exposed_domains: - input_boolean - script entities: input_boolean.tv_x: hidden: true input_boolean.mac_x: hidden: true input_boolean.candles_x: hidden: true input_boolean.game_x: hidden: true 
add some scripts.
script: tv: alias: "TV" sequence: service: input_boolean.toggle entity_id: input_boolean.tv_x game: alias: "Game" sequence: service: input_boolean.toggle entity_id: input_boolean.game_x mac: alias: "Mac" sequence: service: input_boolean.toggle entity_id: input_boolean.mac_x candles: alias: "Candles" sequence: service: input_boolean.toggle entity_id: input_boolean.candles_x 
so instead of key'ing off the input_booleans, i key off the script call. "alexa, turn on candles" calls the script, which toggles the i_b but i only care about the state change of the script. then NR does it's thing.
notice tho, that it's a little smart. if the tv is already on, via that global.var, then it just switches inputs, otherwise it turns it on, waits 7 seconds, then switches inputs.
okay, here's something REALLY advanced.
i have a second pi running cgminer with a USB hub and some USB stick ASIC bitcoin miners. and every once and a while, they stop working and need to be reset. and you can't just restart, you gotta kill the power to the hubs to get them to reset. and then restart cgminer.
enter NR cgminer node and the cgminer API.
so every 5 mins, hit the cgminer API, it returns stats in json, dump those to mqtt. use the function node to pull out the array nested values we need to look at. look for a zero value in any of them. if the input_boolean "auto-reset-miner" is on, then lets reset.
stop cgminer, wait, turn off the USB hub, wait, turn on hub, wait, start cgminer, send an alert to mqtt and SMS me.
now the real magic is the red exec "start cgminer" node. because we stopped cgminer, we have to start it again, on a whole other computer than NR is on.
it basically does a SSH into the miner pi and starts up cgminer. this was difficult to accomplish inside a docker of NR. i had to move some ssh keys around and then reference them with full paths. then i had to do an ssh-copy-id so it didn't require a password.
ssh -i /data/.ssh/id_rsa [email protected] "start cgminer commands" 
anyways, i'm really proud of this one. it was difficult to figure out how to make it work. lots of different moving parts coming together.
here's something i'm still working on. a remote control using the NR dashboard UI.
something i can just put an icon on my iphone home screen and use from the couch.
anyways, enjoy.
or don't. i'm not your cruise director.
you do you.
part 1 https://www.reddit.com/homeassistant/comments/a61ro9/so_i_went_down_the_nodered_rabbit_hole_long/
part 2 https://www.reddit.com/homeassistant/comments/a6jz92/nodered_rabbit_hole_part_2/
submitted by stoneobscurity to homeassistant [link] [comments]

Bitcore: Recent News 14/07/2018

Bitcore: Recent News 14/07/2018
Here is a short list of important recent events and news regarding the Bitcore project:
Artwork by Design Team - Bitcore BTX ® 2018
1. New public key format for Bitcore (BTX). This is an update of major importance. Read all about it here: https://bitcointalk.org/index.php?topic=1883902.msg41275053#msg41275053
2. Bitcore now available for Linux distributions via docker image: https://bitcointalk.org/index.php?topic=1883902.msg40939886#msg40939886
3. Electrum wallet now released for Bitcore: https://bitcointalk.org/index.php?topic=1883902.msg41574645#msg41574645
4. New Core wallet released with full support for the new public key format: https://bitcointalk.org/index.php?topic=1883902.msg41485682#msg41485682
5. Completely updated Bitcointalk.org announcement page for Bitcore: https://bitcointalk.org/index.php?topic=1883902.0
6. Zeltrez, a completely new multi-wallet, now also supporting Bitcore: https://zeltrez.io/downloads/
Web: Official | News | Coin Specs | Roadmap | Ecosystem | Network Update | Community | FAQ | Blog | Team Wallets: Windows | Win Wallet & Blockchain | Linux | Mac | iOS | Android | Eletrum | Zeltrez Exchanges: Bit Z | Cryptopia | hitBTC | VE Bitcoin | Exrates | Crypto Bridge | QBTC | Coinexchange | Octaex | Bitexlive | Bitibu | Trade Satoshi | PayCML Services: Livingroom of Satoshi | Kamoney | Cryptonaut | EasyRabBit.net | LuckyGames.io Block Explorers: InsightAPI | Crypto ID | Liivenet Mining Pools: Bitcorepool | Yiimp | Suprnova | Chainworks | Umine | Ant Mine Pool | Coin Miners | BSOD | BTXpool | Minersport | Omegapool | PoolGPU Market Info: CoinMarketCap | World Coin Index | Cryptocompare Source: Github
submitted by dgcarlosleon to bitcore_btx [link] [comments]

Слухи о смерти криптоджекинга сильно преувеличены

Слава небесам за криптовалюту, иначе у нас не было бы двух величайших бедствий кибербезопасности 21-го века: вымогательства и криптоджекинга.
Вымогательство было основным видом киберпреступности в 2017 году, а вскоре за ним последовал незаконный криптомайнинг а.к.а. криптоджекинг в 2018-м. Теперь, когда цены на крипто смыты в унитаз (относительно говоря), кажется, что кибермошенники снова могут вернуться к вымогательству.
Однако, не сбрасывайте криптоджекинг со счетов окончательно. Только на этой неделе появились новости о хакерах, использующих украденную вредоносную программу NSA, чтобы сбросить многочисленные разновидности криптомайнеров Monero, на ничего не подозревающие незащищенные компьютеры с Windows.
Возможно, вы пропустили эту новость, но что по поводу вот этой? Как насчет хакеров, использующих вредоносное вирусное ПО для взлома контейнеров Docker, чтобы организовать DDoS-атаки и внедрить вредоносный код криптоджекинга?
Но подождите, это еще не все! Новая угроза под названием BlackSquid, которая использует несколько известных уязвимостей, чтобы – вы догадались — сбросить майнеров Monero на ничего не подозревающие системы. Конечно, есть и другие вещи, которые киберпреступники за BlackSquid могли бы сделать со своими вредоносными программами, но, учитывая, насколько идеален Monero для таких преступлений, зачем утруждаться?
Помните, мальчики и девочки, если вы проводите какую-либо крипто транзакцию, то вы кладете деньги в карманы всех майнеров, включая преступников. И как вам спится по ночам?
Джейсон Блумберг не владеет и не планирует владеть криптовалютами или другими криптотокенами, долгосрочными или краткосрочными.
submitted by MargoStark to dailyICOnews [link] [comments]

Zoin Basics: A Beginner’s Guide to Obtaining Zoin

Welcome to Zoin! We want to start by thanking you for joining our amazing community. Zoin is a community-governed decentralized digital currency with privacy features (based on the Zerocoin protocol) and is developed by a diverse team from all around the world. There is no pre-mine and no founder’s reward for Zoin; additionally, it is strictly CPU-minable (see mining section below). Together, these features ensure fairness and transparency to everyone interested in obtaining Zoin. Through this guide you will learn about the current methods of acquiring Zoin for yourself.

How to Earn / Buy Zoin

Right now, there are two ways you can obtain Zoin. You can either use the Bitcoin/Zoin trading pair on Cryptopia exchange or you can mine for Zoin using your own hardware.

Method 1: Trading Zoin on Cryptopia

To start, the easiest way to buy a cryptocurrency such as Ethereum or Litecoin is through Coinbase, where you can buy up to $500 worth of Litecoins (for example) using a credit card before you need to verify your identity. Coinbase accepts buyers from 33 countries across the world. A simple guide from Coinbase on buying Litecoin (or Ethereum) with your bank account / credit card is all you need to get started.
Once you have purchased either Litecoin or Ethereum (or another altcoin) you may login to Cryptopia exchange, after you’ve created an account. You must create a deposit address for the same coin that you previously bought on Coinbase or another exchange by clicking deposit under your account, and then typing the name of the coin you wish to deposit. This will generate an address for your Cryptopia trading wallet to receive coins. You can either copy / paste the address (never type it yourself without verifying it), or scan the QR code if you are sending from a mobile wallet.
Once you make a deposit to your Cryptopia wallet address you must wait for several confirmations before your funds are trade-able on Cryptopia. This usually takes around 30 minutes.
When the deposit is confirmed you may go to the Exchange Market section of Cryptopia and search for the coin you just deposited. Once you are there, create a sell order and wait for someone to buy it, or choose a buy order for the coin to trade it for Bitcoin right away. Since you just purchased your cryptocurrency, the price probably won’t be very different than when you bought it, but this depends heavily on the current state of the market. Look up how much the current buy orders are (in your country’s currency), if it is close to the price you bought it at then you can sell at that price. Remember, a sell order may not be filled right away, but choosing someone’s buy order will sell it to them instantly.
If you have successfully traded your altcoin for Bitcoin on Cryptopia, you may now use your Bitcoin to buy Zoin. You can buy Zoin through a buy order of your own (bid) or a sell order from someone else; again, this is entirely up to you and how you anticipate the market / price of coins.
Congratulations, you have successfully bought your first Zoin!
The next step is to transfer the Zoin you bought to your own personal Zoin wallet. To do this, download the wallet on your preferred platform and after installing and running the wallet for the first time, wait for the blockchain to fully sync.
  1. Close your wallet (if it’s open).
  2. Delete the following folders from %appdata% on Windows or Library/Application Support/Zoin on Mac: Blocks, Chainstate and the file peers.dat
  3. Download the latest blockchain file, extract using 7Zip or your preferred program.
  4. Paste the newly downloaded folders: Block, Chainstate and file peers.dat in ZOIN folder under %appdata% on Windows or Library/Application Support/Zoin on Mac
  5. Open the wallet and wait for it to synchronize. This should take less time than downloading the entire blockchain and syncing from scratch. The process should take around 30 minutes.
Go to the Receive tab and click on your address, then choose Copy Address. Paste that address on the Cryptopia withdraw page for Zoin and confirm that you want to withdraw. In a few minutes, your Zoin will show up in your wallet (it will be confirmed after 6 confirmations).
After your wallet is up to date and you’ve added some of your coins to it, you will want to make it safe in case something happens.
The first thing you want to do is to encrypt it. You can do this by clicking on Settings Encrypt Wallet
You should type in a passphrase that is safe and that you will remember, confirm this passphrase and proceed to encrypt your wallet.
Please be advised, once you set your passphrase you can’t forget it or all your funds will be lost!
Right after your wallet has been encrypted, you should make a backup of it. Click on File Backup Wallet and save the wallet as a wallet.dat file
If you want to open your wallet on another computer you may save the wallet file onto a flash drive or other backup device / method you may already have. Remember that if you encrypted your wallet before doing this backup you must know the passphrase in order to access your wallet.
Another way of recovering your wallet is by finding the private key for the wallet. This can be done in the wallet debug terminal (advanced). For accessing your wallet private key, you must do the following procedure:
If your wallet is encrypted: Click Help Debug Window Console (tab). In the console window, use the command walletpassphrase first:
walletpassphrase "YourPassphrase" 60 
Where "YourPassphrase" is the passphrase you used when you encrypted your wallet and 60 is the amount of time you want to unencrypt your wallet for (in seconds).
Next, use the dumpprivkey command in the following form:
dumpprivkey "wallet address" 
Replace "wallet address" with your own wallet address.
After entering these commands, you will receive your private key.
You may now write down and save this private key.

Method 2: Mining Zoin

The second way of obtaining Zoin is to earn it by mining, using your own hardware and a mining pool server (we recommend the official pool). Mining Zoin is possible with any modern computer as long as it has a CPU.
To start mining you need to have an account in a “pool”; this is a place where several computers (also known as workers) connect together to mine the blockchain. As we mine the blockchain, we find blocks which contain a reward (currently 12.5 Zoin) which is shared by the number of total miners depending on each person’s mining hashrate. The better your hardware is, the more Zoin you will receive from mining.
To get started, visit our official pool and create your mining account.
You will need to set up a worker. This is your mining device which should be assigned a name and password in order for the network to distinguish your mining rig from others. To do this, visit the Workers page.
The Username must be set for as many workers or computers you want to set up. For example, if the username you chose when signing up to our pool was “john123” and you set your first computer name to worker1. Then your username and worker will be: “john123.worker1”. If you set a second worker as worker2, your second worker name will be “john123.worker2” and so on. The password will be whatever you choose under the password that box, the password can be the same for all the workers.
Mining on Windows:
Now that your workers are set, you can go ahead and download mining software, which you can get from the Resources page of the official pool.
Once you have the mining software, open the compressed folder by extracting its contents and create a batch (.bat) file which will contain all the info necessary to mine Zoin into your account. To do this, open a text editor such as Notepad and save the file as .bat instead of .txt
This batch file must contain just one line:
cpuminer-aes-avx2.exe -a lyra2zoin -o stratum+tcp://zoin.netabuse.net:3000 -u username.workername -p workerpassword 
cpuminer-aes-avx2.exe is the .exe file that you want to use, it depends on your CPU.
Lyra2zoin is the algorithm used by Zoin, that should remain the same.
stratum+tcp://zoin.netabuse.net:3000 is the link to the official pool.
username.workername should be the username you set. (Example: john123.worker1)
workerpassword is the password you set for each worker.
Once you set this batch file, you can run it by double-clicking on it.
Note: Make sure that your Firewall / AV program isn’t blocking cpuminer-aes-avx2.exe or the .bat file in order for it to run successfully.
Mining on Linux (Advanced):
Type the following into the terminal one line at a time:
sudo chown -R $USER: $HOME 
sudo apt-get update 
sudo apt-get install automake autoconf pkg-config libcurl4-openssl-dev libjansson-dev libssl-dev libgmp-dev -y 
sudo apt-get install autotools-dev automake make libcurl4-openssl-dev g++ libssl-dev libgmp3-dev -y 
sudo apt-get install build-essential screen automake m4 openssl libssl-dev git libjson0 libjson0-dev libcurl4- openssl-dev autoconf python-software-properties -y 
sudo git clone https://github.com/JayDDee/cpuminer-opt 
cd cpuminer-opt 
./cpuminer -a lyra2zoin -o stratum+tcp://zoin.netabuse.net:3000 -u USERNAME.WORKERNAME -p x -t x 
Replace USERNAME.WORKERNAME with your unique pool username and workername
Mining on Mac OS:
  1. Download and install Docker Community Edition
  2. Visit the Zoin Official Pool and create your mining account
  3. Setup a Worker
  4. Edit the line below to match your pool configuration:
docker run hmage/cpuminer-opt -a lyra2zoin -o stratum+tcp://zoin.netabuse.net:3000 -u USERNAME.WORKERNAME -p x 
hmage/cpuminer-opt is the miner that will be used by docker.
Lyra2zoin is the algorithm used by Zoin, that should remain the same.
stratum+tcp://zoin.netabuse.net:3000 is the link to the official pool.
USERNAME.WORKERNAME should be your unique username and workname (Example: john123.worker1)
If Docker up and running, open Terminal on your Mac (Command + Spacebar and type "Terminal") and paste the line you created. Docker will proceed to download the necessary programs and start mining right away. If you can see the Accepted green message you are mining and you can check all of the mining stats and your earnings from the pool on the main page.
Happy mining!
submitted by Bluish91 to zoinofficial [link] [comments]

The current approach S2X is taking in deploying their fork is a violation of the second paragraph of the NYA Scaling Agreement

Paragraph 2 of the NYA scaling agreement reads:
We are also committed to the research and development of technical mechanisms to improve signaling(sic) in the bitcoin community, as well as to put in place communication tools, in order to more closely coordinate with ecosystem participants in the design, integration, and deployment of safe solutions that increase bitcoin capacity.
(I added the bold above)
In direct contradiction, however, BTC1 (the S2X codebase) intentionally has created and deployed code that creates a technical mechanism to cloak signalling.
Also in contradiction to the claim of "deployment of safe solutions" the refusal to implement safe two way replay protection, which is an easy thing to do, is actually intentional deployment of an unsafe solution.
Add to that today's news that Jeff Garzik has sought assistance in creating Sybil nodes deployable as docker containers for BTC1 which would send false signals about the quantity of support S2X has and we can see that NYA's second paragraph carries zero weight with its lead (and possibly only) developer.
Add to that the fact that all the miners mined on a separate hard fork of bitcoin that was created simultaneous to the SegWit activation clause, and that all the exchanges listed and traded that alt coin and you have the agreement's first paragraph breached by practically all participants already.
Those that tell you that you are breaking an agreement by not endorsing S2X are the worst kinds of liars. You never signed up to their agreement; and they are the ones breaking the agreement.
(https://medium.com/@DCGco/bitcoin-scaling-agreement-at-consensus-2017-133521fe9a77 for anyone interested in reviewing it.)
submitted by logical to Bitcoin [link] [comments]

Announcing Bitcore Core for immediate upgrade!

Announcing Bitcore Core for immediate upgrade!
Dear Bitcore BTX community, exchanges, merchant processor, etc. Bitcore Core Wallet version has now been released which includes a very important security fix for a DoS vulnerability, CVE-2018-17144!
Since Bitcore core is a hybrid fork of bitcoin core, it is liable to the same bug. All Bitcore core versions equivalent to bitcoin core 0.14.0 and above need to upgrade in order to be immune to this vulnerability.
As this update includes the fix for CVE-2018–17144, we would highly recommend all users upgrade as soon as possible.
The release is available now at: Bitcore BTX Core
What is this “transaction bug”
Security issue CVE-201-17144 (1) was discovered that older versions of Bitcoin Core will crash if they try to process a block containing a transaction that attempts to spend the same input twice. Such blocks are invalid, so they can only be created by
a miner willing to sacrifice their allowed income for creating a block of at least 12.5 BTC (about $80,000 USD as of this writing) (2).
The following versions and tags will be deprecated on GitHub and Docker Hub due to CVE-2018-17144:
* bitcoin-core -0.14.0 * bitcoin-core -0.14.1 * bitcoin-core -0.14.2 * bitcoin-core -0.15.0 * bitcoin-core - * bitcoin-core -0.15.1 * bitcoin-core -0.16.0 * bitcoin-core -0.16.1
* bitcoin-core -0.16.2
(1) https://nvd.nist.gov/vuln/detail/CVE-2018-17144
(2) https://bitcoincore.org/en/2018/09/20/notice/
Web: Official | News | Coin Specs | Roadmap | White Paper | Ecosystem | Network Update | Community | FAQ | Blog | Team CoinMarketCap | World Coin Index | Cryptocompare Source: Github | Kryptowerk | DgCarlosLeon
submitted by dgcarlosleon to CryptoCurrency [link] [comments]

One ring to rule them all - solid take on which protocols will survive the ongoing crypto winter

One ring to rule them all - solid take on which protocols will survive the ongoing crypto winter
Only the fat will survive... middle layer platforms - those that directly support applications create the most value and can be considered ‘fat’ (having positive token economics). The author Henry He uses HTTP to illustrate the layer that brings the most value to the internet stack, so I couldn’t help drawing a comparison to PundiXLabs' forthcoming FunctionX ecosystem with FXTP, f(x) docker and f(x) IPFS protocols poised to bring middle layer tools to create value on the F(x) Blockchain - check it out and let me know what you think… :-)
First introduced in August 2016, the Fat Protocols thesis argues that in the Internet technology stack, protocols created tremendous value but nearly all that value was captured by the web applications like Google, Facebook, and Amazon built on top of those protocols. In the blockchain technology stack, however, protocols not only create tremendous value but also capture most of that value, hence the Fat Protocols. It goes further to argue that “the market cap of the protocol always grows faster than the combined value of the applications built on top, since the success of the application layer drives further speculation at the protocol layer.
While I agree that native protocol tokens fundamentally change the business models and via these tokens, protocols will capture most of the value they create, I believe the “Fat Protocols” thesis falls short by highlighting the “speculative value” of the token as a big reason for protocols to capture value, without articulating the dynamics of the token value during the bear market where speculation is gone. The protocols cannot be “fat” if the tokens do NOT have long-term, sustainable, non-speculative value. The Fat Protocols thesis can be improved by analyzing the impact of token economics, which is critical in creating and capturing real value via tokens.

Token Economics Creates Long-term Value

Ultimately, the value captured by the protocols via tokens is the sum of long-term value and speculative value, which are the outputs of two functions Fe and Fs which have token economics and speculation as inputs respectively. In honor of Fat Protocols, we can definite “value” as “FAT”. So we have a formula:
Given that right now only a few protocols like Bitcoin and Ethereum are actually being used and have Fe(token economics) value, most projects’ FAT is purely Fs(speculation) value. When the bear market comes (which we are in right now), the Fs(speculation) value mostly disappears. Hence it should not be a surprise that the value of a majority of tokens has gone to zero.
The Fe(token economics) value for protocol utility tokens is mostly driven by token monetary policy — namely, token supply and token demand. Analyzing Bitcoin and Ethereum as examples, new tokens are minted into circulation in Bitcoin and Ethereum as block rewards to miners. However, everytime a block is produced, the native token demand (tokens required to use the protocol) which are the transaction fees, is much smaller than the block reward in monetary value. Hence, everytime a block is produced, there is a token oversupply which causes token value to go down from a token monetary policy point of view.
For a protocol in the blockchain stack to capture value via its native token, the protocol needs to create value first. As shown in Figure-2, the application layer protocols create the most value in the Internet stack even though they are built on top of lower layer protocols. This is clearly demonstrated by HTTP, an application layer protocol. The HTTP layer unlocked the full value of the Internet, enabling the creation of highly valuable businesses across ecommerce (Amazon), social networking (Facebook), search (Google), video streaming (Netflix), and thousands of other categories.
Most blockchain applications requiring a crypto token should not be built directly on top of a blockchain layer protocol such as Ethereum. This is because the token used by the blockchain layer protocol is designed to secure and incentivize the blockchain and thus cannot secure and incentivize the applications. Each application requires a dedicated, custom-designed token and an associated middle layer protocol — a protocol on top of the blockchain layer protocol but below the customer facing application. A middle layer will create value by powering a crypto network which will create a local economy in each application or business domain. An economy always requires a currency to function and the protocol’s native token will act as the currency for the local economy and capture a certain portion of the economic value accordingly.
Ultimately the middle layer protocols in the blockchain stack will create the most value, similar to the Internet stack. Unlike the Internet, though, the invention of the token allows the protocol to capture the value created rather than simply providing a free standard upon which applications build their business models. The notable exception is that cryptocurrency like Bitcoin, a type of blockchain application, can be built directly on top of the blockchain layer protocol since the native token of the blockchain layer protocol is integrated with the application. In this case, it is still true that the protocol immediately powering the application creates the most value.
The blockchain stack will be different from the Internet stack in that there will be many middle layer protocols instead of a giant HTTP protocol to power most impactful applications. This is because each application or business domain requires its own unique token economics design and hence a separate unique protocol to incorporate the token economics for each application.
Each of these middle-layer protocols captures the value of the staking, commission, and other protocol usage fees, in the same way that blockchain layer protocols capture value (for example, the computational power provided by Ethereum). The economy created by that incentivized, differentiated middle-layer protocol stands to be much larger than the economy created by the more commoditized, computation-driven blockchain protocol layer. In fact, I predict that a few of these protocols tied to larger application categories like commerce and social networking will create decentralized local economies that are more than $100 trillion in size, with the tokens in those few protocols capturing massive value much bigger than any blockchain layer token, including the leading cryptocurrency Bitcoin.


The 2018 crypto crash has filtered out speculators and scammers and established a healthy market environment for committed entrepreneurs to create real value. For a token-based project, token economics is critical to create long-term, sustainable, non-speculative value and capture most of the value via tokens. Similar to the Internet stack, the middle-layer protocols in the blockchain stack that directly support the applications will create the most value, but unlike the evolution of the Internet, the native tokens of these protocols allow them to capture that value. With well-designed token economics, the crypto network powered by a few of these middle-layer protocols will create decentralized local economies that are more than $100T in size. By capturing this value, each of these middle-layer protocols will establish themselves as a “Lord of the Protocols.”
Full: https://medium.com/sesameopen/the-lord-of-the-protocols-cb48bea92bef
submitted by crypt0hodl1 to PundiX [link] [comments]

CKB Monthly Report 2018 Dec


Changes in RFCs

The RFC (Request for Comments) process is intended to provide an open and community driven path for new protocols, improvements and best practices. One month later after open source, we have 11 RFCs in draft or proposal status. We haven't finalized them yet, discussions and comments are welcome.

Changes in CKB

CKB has released v0.2.0 and v0.3.0 in this month.
Rust 2018. We have upgraded all the major repositories to Rust 1.31.0 and 2018 edition. After the Rust upgrade, we can switch to numext, which is a high-performance big number library relying on some new features in 1.31.0.
CKB is dockerized. It has never been easier to run a CKB node:
docker run -ti nervos/ckb:latest run 
The node started via
ckb run 
no longer produces new blocks. This feature is now in a new process which is launched by
ckb miner 
(#52). The new process gets block template from a node and submits new block with resolved PoW puzzle via node's RPC. The RPC interface for miners is temporary, and we are working on an RFC proposal for this. After this change, we also modularized RPCs (#118). Now each RPC module can be disabled via config file.
Another feature we are actively developing is peers management. This month, we have implemented network group and inbound peer eviction which described in RFC0007. We also delivered a new version of
which allow us to support security strategies defined in RFC0007 in the future.
Annoyed by the problems of existing P2P libraries, we started to work on a brand new P2P protocol from the ground up. It is still in an early stage and is a minimal implementation for a multiplexed p2p network based on
that supports mounting custom protocols. We already implemented 3 core components yamux/secio/service. yamux and secio are mainly refer to their corresponding golang implementations, API are clear and easy to use. Those 3 core components are all use channel based lock-free design with good code readability and maintainability. We are adding up more custom protocols layers, and is going to integrate the discovery protocol soon as described in RFC0012.
We have refactored the rust utility library to mock time for debug and test (#111). It is now available as a separate crate.
There are some other features we are still working on, such as implementation of RFC0006 and RFC0011, and the RFC about serialization format CFB. We are going to release them in next month.

Changes in VM

Changes in SDK

submitted by tonyyuhang to NervosNetwork [link] [comments]

Complete Guide to Install Pi Node Packages (Docker + Router Ports for Windows 10) Crypto mining on Docker Minergate on Synology - Mine ByteCoins etc... Consensus in Bitcoin – III (The Miners) Deploy Toshi Bitcoin Node with Docker on AWS in 30 minutes. Beginner Friendly!

Creating a Docker Image with a CPU Miner. The most popular CPU miner tool is called cpuminer and there are several variations of it. The maintained original version can use the scrypt and sha256 algorithms which is useful for Bitcoin, Litecoin, and any other coins that can be mined with those algorithms. LinuxConfig is looking for a technical writer(s) geared towards GNU/Linux and FLOSS technologies. Your articles will feature various GNU/Linux configuration tutorials and FLOSS technologies used in combination with GNU/Linux operating system. While Bitcoin mining is no longer feasible without a GPU or ASIC-based mining rig, Monero (XMR), a privacy-oriented alt-coin is still possible to mine with a regular desktop or even a cloud server. you probably want to run the Monero miner only in the background or with a portion of the CPU cores on your system. The mining apps can be Crypto-mining script kiddies are coming to steal your Docker environment. That's the warning from Aqua Security, which has published a report about attacks against containerized environments by people who want to mine cryptocurrency such as bitcoin. 5- Stop / Pause the miner $ docker service scale miner=0. 6- Resume the miner $ docker service scale miner=1. On Bitcoin’s Schnorr signature algorithm and Taproot script and witness sizes.

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Complete Guide to Install Pi Node Packages (Docker + Router Ports for Windows 10)

How to mine NRG using official docker image from BlockCollider public repo UPDATE: most of the steps intact for newer versions of container, except need to add “start” in the argument. So the ... #newapps #cryptocurrencynews #pinetwork #minecryptocurrency Cryptocurrency News: PI NETWORK! Mine Cryptocurrency Without Affecting Your Phone [NEW APPS] Chec... PI Node Mining PI Node BetaPI ... Bitcoin Miner vs Full Node - Programmer explains - Duration: 7:01. ... Docker For Windows 10 Home Edition - Duration: 18:12. Demonstrate how you set up and run a pool mining package on Docker. https://gabatto.com The RSK network is the Smart Contract platform of Bitcoin, it offers the same capabilities of Ethereum, but the gas is paid with Bitcoin. ... Crypto mining on Docker - Duration: 2:04. Gabatto ...

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