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Nano #Ama on Binance Spanish telegram group!!
Regards!! I'm Jesús Zambrano, member of the Hispanic community of NANO for a long time. Last thursday, we had an interesting and enjoying Ask-me-anything at Binance Spanish community on telegram with the people behind NANO, Colin LeMahieu (Founder and Executive Director) and Zach Hyatt (Proyect Manager), where we take advantage of their kindness and willingness to ask them some questions and share opinions about de currency. I will share a compilation of some of the questions and answers. -(Admin) ¡Welcome Binancians to our following AMA! I will explain how AMA works; we will have three (3) segments. Segment #1: I am going to ask to our guests five (5) questions and then they will answer them. I will be explaining the rest of the segments as we conclude one of them. -(Admin) Today we have the great pleasure of having Colin (Founder and Executive Director) and Zach (Project Manager) with us in our chat room. Could you give us a little introduction about you? - (Zach) Hi everyone, I am Zach Hyatt, the Project Manager at the Nano Foundation and am excited to help answer questions about Nano. I live in Austin, TX where it is quite hot right now! -(Colin) I’m Colin LeMahieu, founder of Nano. I’m a computer engineer and I’ve worked at companies like Qualcomm, Dell, and AMD. I have been working on Nano for about 5 years now and I’m really excited to talk with people who are interested as well! -(Admin) It is a pleasure for us to have you here, I have to say that on a personal level, I have been a follower of the project for a long time now, so it is incredible for me to be able to count on you tonight, we will start with segment # 1, with the questions I have for you. Feeless transactions and in record time! What is NANO? Can you give us an introduction to the project? -(Colin) Nano’s goal is to solve problems with other cryptocurrencies and make sending value fast and fee-less. It has a unique design to allow us to accomplish this. We want people to have the option of using decentralized digital money instead of fiat money anywhere in the world. Nano is accessible and easy-to-use today and we plan on keeping it focused on these goals. -(Admin) Thank you for answering my first question, I am delighted with the features offered by the project, every week they are updating and making important changes that help to improve the ecosystem that surrounds the team. Here you can find all the weekly updates: https://nano.org/en Previously the project was called RaiBlocks, it appeared for the first time in an ad in Bitcoin Talk in 2015. Can you tell us why a name change came up later? -(Zach) Yeah, absolutely. Although the original RaiBlocks name has a special place in our history, it was difficult to pronounce in some areas of the world and caused confusion with certain users. We decided to move to a shorter name that not only was easy to pronounce but also reflected the fast, efficient nature of the protocol. -(Admin) A short and quick name to pronounce, definitely NANO is perfect to define it! My third question is the following; I had seen a very interesting gif early in the chat and it is just about the question that I came to ask. Currently, NANO has 100% of its tokens in circulation and these tokens were distributed through Faucets, so it meant that any user with a computer could get coins simply by completing some captchas, can you tell me which has been the experience of users when using this method? -(Colin) The faucet was a great way for us to distribute coins to people who have never used it before. Cryptocurrencies that use mining end up distributing only to people who have money to buy the mining hardware and this is unfair. We had a lot of people from Indonesia and Asia in the beginning of our distribution and at the end there were a lot of people from South America, Venezuela and Brasil that were getting most of the Nano from the faucet. We think this was a fairer way to do it and it got Nano into the hands of people in different locations, and it had a very positive impact on their lives. -(Admin) This is incredible! thanks for your answer! Can you tell us about what the Open Representative Vote is about and how it protects the network? -(Zach) Nano uses voting to get confirmation on the network instead of mining and the nodes on the network that create votes are called Representatives. Open Representative Voting allows people who have a Nano balance to pick whatever representative they want to vote on their behalf. This allows the people who hold Nano to decide who generates consensus instead of mining companies. The voting process is very efficient and is a big part of what allows Nano to be fee-less and use very little energy. -(Admin) Very good! The last question on my part: Nano PoW is your new approach, I have read a pretty interesting example with emails, can you explain what it is about? -(Colin) Nano PoW is a research project we’re doing in order to create a proof of work algorithm that uses less energy than other popular algorithms. Since Nano is fee-less, there must be a method to limit transactions going onto the network, which this PoW achieves. With the goal of using more memory in the process instead of CPU cycles in order to generate proofs, this new Nano PoW will help prevent ASICs from being able to cheaply send lots of transactions. It’s important for a cryptocurrency that’s used around the world to be energy efficient and green so continuing our research on this is important to us. -(Admin)https://medium.com/nanocurrency/nano-pow-the-details-ba22a9092d6f Thanks for your answers, Colin and Zach! I have a video, taken from your YouTube account that I would like to share with the community https://www.youtube.com/watch?v=eh9pA8UCUrI Can you tell me what we see in this video? -(Colin) This is a video of how fast our transactions send and receive. You can see it takes less than 1 second to finish which means you can use it as a currency. - (Zach) The wallet was made by developers in our amazing community, it is called Natrium. It really shows how fast Nano is and how it is easy-to-use! -(Colin) You can also see how simple it is to use. You just scan, enter an amount, and send. There are no complicated setting which is great for new users and great for adoption. - (Zach) And the best part is, there were no fees at all for that transaction. In fact there have never been any transaction fees on the Nano network ever! -(Admin) Great! That's why I wanted to share it with everyone, yesterday I could try the wallet and it is really spectacular to use, thank you very much for that excellent explanation, please stay with us, now comes the part in which our users participate Segment 3, community questions Q -First congratulations on your project, it is amazing. Now, does nano BlockChain have another use besides making transactions? A - (Zach) Thank you! Nano has always been focused on transfer of value and will continue to maintain that focus. The overall design is aimed at doing only this so it can remain fast, efficient and fee-less. Q -Good evening! I understand that thanks to its architecture called "Block-lattice", each individual provides the computing power necessary to verify their own transaction, thanks to this they do not use miners to confirm transactions and they do not apply commissions of any kind. My question is: How did this occur and how difficult was it? A - (Colin) It’s simila, transactions are validated by votes from the representatives, not by the PoW. The PoW is a way to slow down how fast people can create transactions so they can’t spam the network. Q - Do you have any short or long term projects so that transactions using $NANO were anonymous? A - (Colin) Long term we want to see what privacy options exist and are fast. Most privacy schemes make the transactions very big or slow to process and it’s important for things to remain quick and efficient so we can have fast transactions. Q - We are living in Venezuela many changes in the cryptocurrency sector, the integration of crypto for service payment and product purchases is already a reality. What agreements has NANO made with service stores to integrate it as a means of payment? I want to pay my movie ticket with NANOS A - (Zach) Thanks for your interest in Nano. We are always looking for ways to allow everyone to use Nano in as many places as possible. Although separate from our organization, we are aware of the efforts of the Nano Venezuela organization and try to support them when possible in bringing Nano to as many people and stores in Venezuela as possible. Q - (7 questions made from one persone at once)
How do you manage to make your transactions virtually instantaneous?
How do they create part of the company's livelihood if no fees are charged for transactions?
Why does $ NANO consume so little electricity?
Requirements for a medium-sized company to adopt nano correctly as a means of payment?
Since 100% of the $ NANOS are distributed, I have seen something in Medium that talked about `` Nano PoW '', could you tell me a little more about how it works? What profit will the person / institution get that puts hardware for their PoW? Will more $ NANO be created apart from those already in circulation?
What do the representatives earn for putting their vote and validating blocks if 100% of the $ NANOS are already created / issued?
7- Since your policy / slogan / commandment is to be a cryptocurrency without fees, shouldn't you force exchanges in which $ NANO is present that they don't charge withdrawal fees? A - (Colin)
Transactions are fast because they’re validated by voting. The votes get transmitted around the world in milliseconds and all people have to do is count votes to confirm the transaction.
We use the Dev fund to pay for developing the Nano protocol. The Nano protocol is a free tool that other people can build businesses on. We have ideas for businesses that can use fast, free money in order to help people send money to their family in other countries or pay microtransactions. It’s similar to Linux, it’s free but big companies use it because it saves them money.
Nano uses little electricity because we use voting for validating transactions. Voting is just sending data over the internet which is power efficient.
You can run a nano node with 40-60$/mo using cloud virtual machines
Nano pow is just a more efficient way to slow people down from sending transactions to the network
The most important thing is: why does a company want to use cryptocurrency? They want to use it because it saves them money on bank fees, etc. Since 40-60$/mo running a node is less expensive than their bank fees, they want to participate in the network to keep it going and save them money.
Q - Knowing all this about Nano, could you say that Nano is one of the most energy-efficient, Ecological friendly currencies in existence? A -(Zach) Absolutely. We care about making a positive change in the world and so pride ourselves on leaving as little energy trace possible in the world. It may just be the fastest, most efficient transfer of value available. Q - If the nano protocol had not passed the Red4Sec signature security test, would it have any vulnerability today? A - (Colin) The Red4Sec audit didn’t find any critiral vulnerabilities in Nano. In fact they did the audit twice because they couldn’t find anything wrong and that never happened before. It’s important for us to keep the code high quality and we will do audits again in the future because it’s important to make sure everything is secure. Q - I'd like to see more development of Nano by using SMS on our phones to avoid the problem of no Internet connection at the moment A -(Zach) As much as we like the idea of SMS, unfortunately it is not a secure network so managing Nano transactions over it brings some unique requirements. However we are always innovating and trying to make Nano as easy and accessible as possible so hope advances can help over time make it more accessible in this area. Q - What plans do you have to close this 2019 to increase adoption in Latin America? A -(Colin) We are very excited about the passion we see in the south american community. We would love to make it down to VE however in the mean time follow nanoVE for updates and meetups - there may be one near you soon! Q - How will you make the adoption and use of $ NANO continue to increase especially in markets where other cryptocurrencies are gaining more ground? A - (Colin) Our focus is to build tools people need to accept cryptocurrency. Right now it’s still difficulty and expensive. One thing we’re making is the device Appia which can accept cryptocurrency similar to a credit card. We made this device very inexpensive and can connect over wireless so it can be used in markets or resturaunts or other places cryptocurrency is not yet available. - (Admin) Thank you very much for your answers! You are the first guests that answer all the questions of our users, you are amazing guys! @AndyNano It was amazing to meet you, I learned a lot from you @FundacionNanoVE Thanks for making this happen! excellent work @nano_isam Thanks for everything buddy! -(Zach) Can we ask a question to the channel? What are the top things Nano can do to help you in your daily lives? -(Colin) My question: How do you store cryptocurrency safely? Where do you back up your seed so it isn’t lost or stolen? A - In Venezuela we currently have a problem with conventional payment processors, they are very slow, it would be great to be able to see people using NANO to make their purchases at any store in Venezuela, 0 commissions and instant transactions, is what we need A - Fast transactions are what can help society the most, and except that, the best thing is that it is very cheap ... from there it is addition, those are the main characteristics that we look for the most A - encrypted file in a pendrive A - Nano is a direct competition to the vast majority of Cryptos, in transaction speed and that it is literally free to send or receive, nothing to wait for 5 hours or the next day when you pay for items or services with Crypto, let's increase the adoption of nano! -(Colin) Question: Are there barriers to using Nano in your country right now? A - No barriers in Venezuela A - No barrier what is lacking is greater diffusion in means to give greater projection and that the adoption arrives. Here I am to support NANO! A - There should be no barriers to the payments we wish to make, freedom above all -(Colin) Fantastic! - (Zach) Thanks everyone, I have to go but I appreciate all the awesome questions and answers!
E: Going to bed, will contribute more tomorrow. Thanks for the discussion! Myth: Mining is more stressful than gaming. Fact: It depends. During the old days, this was plausible, because older GPUs (Pre-polaris) are/were bottlenecked by core clock when mining the most profitable coins. Thus, miners overclocked and overvolted these cards quite frequently, especially with cheap electricity. This meant that those cards were often run hot, pushing the limits and stressing VRM and fans quite a lot. Nowadays, ethash (Ethereum) is the most profitable algorithm for AMD cards 99% of the time, and newer GPUs (Polaris) are limited by memory bandwidth and latency. Miners can underclock core to the low 1100MHz range before seeing performance drop. To save power, miners who know what they are doing also undervolt, since it is no longer necessary to sustain a high core clock. Thus, it is quite feasible to run polaris cards below 70C at a reasonable fan speed. However, dual mining (mining more than one coin at once) does increase power consumption by up to 20%, and there are also idiots who run their polaris cards OCd while mining. With the exception of a few idiots, miners treat their Polaris GPUs pretty much the same; that is, running underclocked and undervolted 24/7 with a memory strap mod and mem OC. On the other hand, former gaming cards are highly variable in use cases. Some gamers leave their cards at stock settings, some undervolt, and some OC and/or overvolt. Most of the time, these cards are thermal cycled far more often than mining cards, which is known to weaken solder. Another thing to consider is that manufacturers have learned (somewhat) from their mistakes of putting shit tier fans in GPUs, and many fans on modern GPUs are ball bearing and/or swappable. Even some budget cards, such as MSI Armor, use decent ball bearing fans. Bottom line: the risk of buying mined Polaris cards is not as high as the risk of buying older mined cards. I would not be against buying mined polaris cards, but it's not necessarily better than buying a gamer's card instead. At the end of the day, it depends more on how the owner treated it than what they used it for. Myth: GPUs are obsolete because of FPGAs and ASICs Fact: Mostly false. Older algorithms such as scrypt and SHA256 (lite/doge/feathebitcoin etc) are no longer feasible to mine with GPUs, but there have been multiple algorithms since then that are built to deter ASICs; most of the time it is done by making it memory-hard because designing an ASIC with high memory throughput is considerably more expensive to design and manufacture. Many devs prefer their blockchain to be ASIC resistant to avoid the concentration of power problem that Bitcoin is having nowadays, where a giant, near-monopolistic ASIC manufacturer (Bitmain) is causing a lot of (subjective) controversy. Blockchains based on ethash (Ethereum and its forks), equihash (Zcash and its forks) and cryptonight (Monero and forks) are some examples, but there are scores of other shitcoins and a few other algos that are GPU dominant. It is almost impossible that there will be another ASIC takeover, which is what was responsible for the stop in GPU demand in the bitcoin and litecoin days. Bottom line: ASICs no longer threaten GPU miners, or the demand for GPUs Myth: Ethereum switching to Proof of Stake will kill mining soon Fact: Doomsayers have been preaching about proof of stake since late 2015. It has always been "coming soon." The fact is, the Ethereum roadmap goes from proof of work (mining) -> Casper (mining + PoS) -> Metropolis (PoS). Currently, the release date of Casper is not even announced yet, nor is it being tested in a (public) testnet. Proof of Stake might one day take over, but mining is here to stay for a while yet. Another thing to consider is that there are tons of other GPU mineable blockchains, and although Ethereum is biggest, it is certainly feasible that mining stays profitable even after Ethereum goes PoS (if it ever does). However, it is possible that profits will be low enough to discourage new miners. Bottom line: It's very unlikely. E: I screwed up the roadmap; here is a better source than me with some interesting information: https://www.ethnews.com/ethereums-vitalik-buterin-gives-keynote-on-metropolis Myth: The current Ethereum demand spike is a bubble Opinion: Honestly, I don't know. I would not be surprised if stricter regulations on ICOs come sooner or later, which would fuck with Ether prices. There is also the inherent volatility of cryptocurrencies. However, it is also possible that blockchain technology continues to gain traction; that is, the price could just as easily go up as go down. Although it's fun to read about other people's opinions, only time-travelling wizards can tell you when it will become economical again to upgrade your poor HD5770. Bottom line: No one knows. Myth: Miners will "steal" all the RX Vegas Fact: Only a reckless miner would buy Vegas on release, since mining performance is not known. In fact, it is possible that it can't mine at all (or at some stupidly low speed) until devs add support to existing miners. It would be even more reckless than gamers who buy without seeing benchmarks, since at least gamers can expect the games to actually run. It's also not necessarily the case that Vega will be good once miners do add support. Maybe there will be enough reckless miners to affect supply, maybe not. Of course, it is possible that miners will deplete the supply after it is demonstrated that Vega is good for mining. Bottom line: Most miners won't preorder, but it's possible that a significant number will. E: Important to remember that even if mining demand isn't high, doesn't mean that supply will be plentiful. Myth: Nvidia cards SUCK at mining Fact: Mostly false. They USED to suck in the old pre-Maxwell days, but now they are actually more efficient at mining Ethereum and Zcash compared to AMD cards, even after both cards are undervolted. The flipside is that they (used to) cost more for the equivalent hashrate. For reference, my old 5xRX470 rig drew just under 800W when mining ETH only and hashed at 150MH/s. My current 6xGTX1060 rig draws just over half of that (<450W) and hashes at about 135MH/s. Certainly not as good in raw performance, but they are viable nonetheless, especially given the AMD GPU shortage. In fact, Nvidia cards (1060 and especially 1070) are becoming scarce as well. Bottom line: Nvidia is still the underdog when it comes to mining, but far from irrelevant nowadays. Myth: 4GB cards will be obsolete for mining soon Fact: FALSE. The Ethereum DAG is not even 3GB yet, and won't be for a few months. The recent reports of 4GB Polaris cards slowing down soon due to DAG size is caused by limited TLB capacity, not VRAM restrictions. Polaris cards will still be able to mine ETH forks such as Expanse and UBIQ without diminished speed, and even if they are used to mine ETH, it is not that much of a performance hit at first. It would certainly not make polaris useless or undesirable for mining anytime soon. Tahiti GPUs already suffer from this issue and Hawaii is the most resistant to this issue. Have not benched Nvidia at a later epoch. Myth: Creating miner-bashing posts on Reddit will help alleviate the GPU supply problem Fact: False, you are simply giving cryptocurrencies and mining more exposure to the general public, increasing demand. Myth: Mining-specific GPUs will solve the shortage problems Opinion: There's not enough info to tell yet, but I am a skeptic for the following reasons. First, no display limits the resale value of the card for obvious reasons. IMO, the whole point of crypto mining from a profitability standpoint is to have a hedge against coin volatility (hardware is still worth something if the coin crashes). Otherwise it is much less effort to just buy and hold the coin. If the hardware is useless without demand from other (significant) sources, then it doesn't make much sense to buy it unless the price is extremely low. I'm sure that cost-downing the PCB and warranty will make for a cheap card, but it has to be extremely cheap and plentiful in supply, or else miners will buy whatever they can get. I could envision "failed" chips (not meeting spec of consumer editions) being stuck in miner cards, but I doubt there are enough to meet demand without ramping up production as a whole, which carries its own risks. I guess that it would help a little, but probably not solve the problems. Alternatively, since modern GPUs are bottlenecked by RAM when mining, it might be enticing to miners to have the fastest (GDDR5) RAM on the market (probably the 9gbps chips from the 1060 6G 9gbps edition, although I don't have one to test). However, my previous points still apply; buying such a card without display outputs carries a big risk. Bottom line: It's not a great idea, unless they are super cheap or use really good RAM. Hope this helped; if you have any further questions I will try to answer them. I'm both a gamer and miner who uses both AMD and Nvidia roughly equally and don't favor one group over another. I've mined and gamed on all high end AMD GPUs since Tahiti (except Tonga) and all Pascal cards except 1050ti.
Regards!! I'm Jesús Zambrano, member of the Hispanic community of NANO for a long time. Last thursday, we had an interesting and enjoying Ask-me-anything at Binance Spanish community on telegram with the people behind NANO, Colin LeMahieu (Founder and Executive Director) and Zach Hyatt (Proyect Manager), where we take advantage of their kindness and willingness to ask them some questions and share opinions about de currency. I will share a compilation of some of the questions and answers. -(Admin) ¡Welcome Binancians to our following AMA! I will explain how AMA works; we will have three (3) segments. Segment #1: I am going to ask to our guests five (5) questions and then they will answer them. I will be explaining the rest of the segments as we conclude one of them. -(Admin) Today we have the great pleasure of having Colin (Founder and Executive Director) and Zach (Project Manager) with us in our chat room. Could you give us a little introduction about you? - (Zach) Hi everyone, I am Zach Hyatt, the Project Manager at the Nano Foundation and am excited to help answer questions about Nano. I live in Austin, TX where it is quite hot right now! -(Colin) I’m Colin LeMahieu, founder of Nano. I’m a computer engineer and I’ve worked at companies like Qualcomm, Dell, and AMD. I have been working on Nano for about 5 years now and I’m really excited to talk with people who are interested as well! -(Admin) It is a pleasure for us to have you here, I have to say that on a personal level, I have been a follower of the project for a long time now, so it is incredible for me to be able to count on you tonight, we will start with segment # 1, with the questions I have for you. Feeless transactions and in record time! What is NANO? Can you give us an introduction to the project? -(Colin) Nano’s goal is to solve problems with other cryptocurrencies and make sending value fast and fee-less. It has a unique design to allow us to accomplish this. We want people to have the option of using decentralized digital money instead of fiat money anywhere in the world. Nano is accessible and easy-to-use today and we plan on keeping it focused on these goals. -(Admin) Thank you for answering my first question, I am delighted with the features offered by the project, every week they are updating and making important changes that help to improve the ecosystem that surrounds the team. Here you can find all the weekly updates: https://nano.org/en Previously the project was called RaiBlocks, it appeared for the first time in an ad in Bitcoin Talk in 2015. Can you tell us why a name change came up later? -(Zach) Yeah, absolutely. Although the original RaiBlocks name has a special place in our history, it was difficult to pronounce in some areas of the world and caused confusion with certain users. We decided to move to a shorter name that not only was easy to pronounce but also reflected the fast, efficient nature of the protocol. -(Admin) A short and quick name to pronounce, definitely NANO is perfect to define it! My third question is the following; I had seen a very interesting gif early in the chat and it is just about the question that I came to ask. Currently, NANO has 100% of its tokens in circulation and these tokens were distributed through Faucets, so it meant that any user with a computer could get coins simply by completing some captchas, can you tell me which has been the experience of users when using this method? -(Colin) The faucet was a great way for us to distribute coins to people who have never used it before. Cryptocurrencies that use mining end up distributing only to people who have money to buy the mining hardware and this is unfair. We had a lot of people from Indonesia and Asia in the beginning of our distribution and at the end there were a lot of people from South America, Venezuela and Brasil that were getting most of the Nano from the faucet. We think this was a fairer way to do it and it got Nano into the hands of people in different locations, and it had a very positive impact on their lives. -(Admin) This is incredible! thanks for your answer! Can you tell us about what the Open Representative Vote is about and how it protects the network? -(Zach) Nano uses voting to get confirmation on the network instead of mining and the nodes on the network that create votes are called Representatives. Open Representative Voting allows people who have a Nano balance to pick whatever representative they want to vote on their behalf. This allows the people who hold Nano to decide who generates consensus instead of mining companies. The voting process is very efficient and is a big part of what allows Nano to be fee-less and use very little energy. -(Admin) Very good! The last question on my part: Nano PoW is your new approach, I have read a pretty interesting example with emails, can you explain what it is about? -(Colin) Nano PoW is a research project we’re doing in order to create a proof of work algorithm that uses less energy than other popular algorithms. Since Nano is fee-less, there must be a method to limit transactions going onto the network, which this PoW achieves. With the goal of using more memory in the process instead of CPU cycles in order to generate proofs, this new Nano PoW will help prevent ASICs from being able to cheaply send lots of transactions. It’s important for a cryptocurrency that’s used around the world to be energy efficient and green so continuing our research on this is important to us. -(Admin)https://medium.com/nanocurrency/nano-pow-the-details-ba22a9092d6f Thanks for your answers, Colin and Zach! I have a video, taken from your YouTube account that I would like to share with the community https://www.youtube.com/watch?v=eh9pA8UCUrI Can you tell me what we see in this video? -(Colin) This is a video of how fast our transactions send and receive. You can see it takes less than 1 second to finish which means you can use it as a currency. - (Zach) The wallet was made by developers in our amazing community, it is called Natrium. It really shows how fast Nano is and how it is easy-to-use! -(Colin) You can also see how simple it is to use. You just scan, enter an amount, and send. There are no complicated setting which is great for new users and great for adoption. - (Zach) And the best part is, there were no fees at all for that transaction. In fact there have never been any transaction fees on the Nano network ever! -(Admin) Great! That's why I wanted to share it with everyone, yesterday I could try the wallet and it is really spectacular to use, thank you very much for that excellent explanation, please stay with us, now comes the part in which our users participate Segment 3, community questions Q -First congratulations on your project, it is amazing. Now, does nano BlockChain have another use besides making transactions? A - (Zach) Thank you! Nano has always been focused on transfer of value and will continue to maintain that focus. The overall design is aimed at doing only this so it can remain fast, efficient and fee-less. Q -Good evening! I understand that thanks to its architecture called "Block-lattice", each individual provides the computing power necessary to verify their own transaction, thanks to this they do not use miners to confirm transactions and they do not apply commissions of any kind. My question is: How did this occur and how difficult was it? A - (Colin) It’s simila, transactions are validated by votes from the representatives, not by the PoW. The PoW is a way to slow down how fast people can create transactions so they can’t spam the network. Q - Do you have any short or long term projects so that transactions using $NANO were anonymous? A - (Colin) Long term we want to see what privacy options exist and are fast. Most privacy schemes make the transactions very big or slow to process and it’s important for things to remain quick and efficient so we can have fast transactions. Q - We are living in Venezuela many changes in the cryptocurrency sector, the integration of crypto for service payment and product purchases is already a reality. What agreements has NANO made with service stores to integrate it as a means of payment? I want to pay my movie ticket with NANOS A - (Zach) Thanks for your interest in Nano. We are always looking for ways to allow everyone to use Nano in as many places as possible. Although separate from our organization, we are aware of the efforts of the Nano Venezuela organization and try to support them when possible in bringing Nano to as many people and stores in Venezuela as possible. Q - (7 questions made from one persone at once)
How do you manage to make your transactions virtually instantaneous?
How do they create part of the company's livelihood if no fees are charged for transactions?
Why does $ NANO consume so little electricity?
Requirements for a medium-sized company to adopt nano correctly as a means of payment?
Since 100% of the $ NANOS are distributed, I have seen something in Medium that talked about `` Nano PoW '', could you tell me a little more about how it works? What profit will the person / institution get that puts hardware for their PoW? Will more $ NANO be created apart from those already in circulation?
What do the representatives earn for putting their vote and validating blocks if 100% of the $ NANOS are already created / issued?
7- Since your policy / slogan / commandment is to be a cryptocurrency without fees, shouldn't you force exchanges in which $ NANO is present that they don't charge withdrawal fees? A - (Colin)
Transactions are fast because they’re validated by voting. The votes get transmitted around the world in milliseconds and all people have to do is count votes to confirm the transaction.
We use the Dev fund to pay for developing the Nano protocol. The Nano protocol is a free tool that other people can build businesses on. We have ideas for businesses that can use fast, free money in order to help people send money to their family in other countries or pay microtransactions. It’s similar to Linux, it’s free but big companies use it because it saves them money.
Nano uses little electricity because we use voting for validating transactions. Voting is just sending data over the internet which is power efficient.
You can run a nano node with 40-60$/mo using cloud virtual machines
Nano pow is just a more efficient way to slow people down from sending transactions to the network
The most important thing is: why does a company want to use cryptocurrency? They want to use it because it saves them money on bank fees, etc. Since 40-60$/mo running a node is less expensive than their bank fees, they want to participate in the network to keep it going and save them money.
Q - Knowing all this about Nano, could you say that Nano is one of the most energy-efficient, Ecological friendly currencies in existence? A -(Zach) Absolutely. We care about making a positive change in the world and so pride ourselves on leaving as little energy trace possible in the world. It may just be the fastest, most efficient transfer of value available. Q - If the nano protocol had not passed the Red4Sec signature security test, would it have any vulnerability today? A - (Colin) The Red4Sec audit didn’t find any critiral vulnerabilities in Nano. In fact they did the audit twice because they couldn’t find anything wrong and that never happened before. It’s important for us to keep the code high quality and we will do audits again in the future because it’s important to make sure everything is secure. Q - I'd like to see more development of Nano by using SMS on our phones to avoid the problem of no Internet connection at the moment A -(Zach) As much as we like the idea of SMS, unfortunately it is not a secure network so managing Nano transactions over it brings some unique requirements. However we are always innovating and trying to make Nano as easy and accessible as possible so hope advances can help over time make it more accessible in this area. Q - What plans do you have to close this 2019 to increase adoption in Latin America? A -(Colin) We are very excited about the passion we see in the south american community. We would love to make it down to VE however in the mean time follow nanoVE for updates and meetups - there may be one near you soon! Q - How will you make the adoption and use of $ NANO continue to increase especially in markets where other cryptocurrencies are gaining more ground? A - (Colin) Our focus is to build tools people need to accept cryptocurrency. Right now it’s still difficulty and expensive. One thing we’re making is the device Appia which can accept cryptocurrency similar to a credit card. We made this device very inexpensive and can connect over wireless so it can be used in markets or resturaunts or other places cryptocurrency is not yet available. - (Admin) Thank you very much for your answers! You are the first guests that answer all the questions of our users, you are amazing guys! @AndyNano It was amazing to meet you, I learned a lot from you @FundacionNanoVE Thanks for making this happen! excellent work @nano_isam Thanks for everything buddy! -(Zach) Can we ask a question to the channel? What are the top things Nano can do to help you in your daily lives? -(Colin) My question: How do you store cryptocurrency safely? Where do you back up your seed so it isn’t lost or stolen? A - In Venezuela we currently have a problem with conventional payment processors, they are very slow, it would be great to be able to see people using NANO to make their purchases at any store in Venezuela, 0 commissions and instant transactions, is what we need A - Fast transactions are what can help society the most, and except that, the best thing is that it is very cheap ... from there it is addition, those are the main characteristics that we look for the most A - encrypted file in a pendrive A - Nano is a direct competition to the vast majority of Cryptos, in transaction speed and that it is literally free to send or receive, nothing to wait for 5 hours or the next day when you pay for items or services with Crypto, let's increase the adoption of nano! -(Colin) Question: Are there barriers to using Nano in your country right now? A - No barriers in Venezuela A - No barrier what is lacking is greater diffusion in means to give greater projection and that the adoption arrives. Here I am to support NANO! A - There should be no barriers to the payments we wish to make, freedom above all -(Colin) Fantastic! - (Zach) Thanks everyone, I have to go but I appreciate all the awesome questions and answers!
Just read these two sentences and you'll understand why a SegWit Coin is not a Bitcoin: Satoshi: "We define an electronic coin as a chain of digital signatures." // Core: "Segregating the signature data allows nodes to avoid downloading it in the first place, saving resources."
Just read these two sentences and you'll understand why a SegWit Coin is not a Bitcoin: Satoshi: "We define an electronic coin as a chain of digital signatures." // Core: "Segregating the signature data allows nodes to avoid downloading it in the first place, saving resources." This isn't me making this argument. This is Core itself openly confessing that SegWit is not Bitcoin. Because Core itself admits that "SegWit allows avoiding downloading the signatures" - which is the total opposite of when Satoshi said that the signatures are what defines Bitcoin. So you can't have it both ways.
Either you download (and validate) the signatures and you have a Bitcoin as defined by Satoshi's whitepaper.
Or you use this totally different system invented by Core, which allows not downloading and not validating the signatures - so you have a SegWit Coin (but you do not have a Bitcoin).
So, the difference between Bitcoin and SegWit could not be more extreme. After all, the only reason Bitcoin is secure is because it's based on cryptographic signatures. That's the security that has made the value of a bitcoin go from less than 0.01 USD to over 2500 USD in 8 years. And that's the same security which Core's alt-coin called SegWit allows you to "avoid dowloading" (and avoid validating). This is Core's words - not mine. So SegWit is not Bitcoin. SegWit is an alt-coin. With less security than Bitcoin. The two definitions below define totally different coins - one more secure, one less secure:
"We define an electronic coin as a chain of digital signatures."
SegWit Coin is not Bitcoin. (Because - as Core open and proudly confesses - Segwit "allow nodes to avoid downloading" the signatures - which are the very definition of a coin.)
Bitcoin Cash is Bitcoin. (Because Bitcoin Cash changes absolutely nothing about Bitcoin transactions - it just allows including more of them in a block - and this is alsoexactly the way Satoshi designed Bitcoin.)
The only people who don't understand these simple facts are lemmings who have been brainwashed by reading the subreddit r\bitcoin - which deletes posts quoting their enemy Satoshi Nakamoto:
CENSORED (twice!) on r\bitcoin in 2016: "The existing Visa credit card network processes about 15 million Internet purchases per day worldwide. Bitcoin can already scale much larger than that with existing hardware for a fraction of the cost. It never really hits a scale ceiling." - Satoshi Nakomoto
You can either listen to Satoshi and use Bitcoin - now called Bitcoin Cash.
Or you can listen to Core and r\bitcoin and use SegWit coin - an alt-coin developed by Core, which (as they openly admit) "allows nodes to avoid downloading" - and avoid validating - the cryptographic signatures which are the only thing providing the security of Bitcoin.
I'm not the only one making these arguments. Peter Rizun and Peter Todd are also saying the same thing: that SegWit provides less security than Bitcoin - precisely because (as Core admits) SegWit "allows nodes to avoid downloading" the signature data. Those alarms sounded by Peter Rizun and Peter Todd were cited by a Bitcrust dev in an important article discussing the incorrectly designed incentives (and decreased security - and ultimately decreased value) of SegWit Coins versus plain old Bitcoins: The dangerously shifted incentives of SegWit https://bitcrust.org/blog-incentive-shift-segwit UPDATE: OK, lots of people have been attempting to write rebuttals here, talking about (SegWit) "full nodes" not validating blocks. But that's not the danger being discussed here. The danger is being discussed here is about (SegWit) miners not validating full blocks. So I think I need to quote this excerpt from Peter Todd's message - which is hard to find in the OP, because to get to it, first you have to click on the link to the article by the Bitcrust dev at the bottom of the OP, titled "The dangerously shifted incentives of SegWit". In his message, Peter Todd is making a very important warning about the dangers of "validationless mining" enabled by SegWit: https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2015-Decembe012103.html
Segregated witnesses and validationless mining With segregated witnesses the information required to update the UTXO set state is now separate from the information required to prove that the new state is valid. We can fully expect miners to take advantage of this to reduce latency and thus improve their profitability. We can expect block relaying with segregated witnesses to separate block propagation into four different parts, from fastest to propagate to slowest: 1) Stratum/getblocktemplate - status quo between semi-trusting miners 2) Block header - bare minimum information needed to build upon a block. Not much trust required as creating an invalid header is expensive. 3) Block w/o witness data - significant bandwidth savings, (~75%) and allows next miner to include transactions as normal. Again, not much trust required as creating an invalid header is expensive. 4) Witness data - proves that block is actually valid. The problem is [with SegWit] #4 is optional: the only case where not having the witness data matters is when an invalid block is created, which is a very rare event. It's also difficult to test in production, as creating invalid blocks is extremely expensive - it would be surprising if an anyone had ever deliberately created an invalid block meeting the current difficulty target in the past year or two. The nightmare scenario - never tested code never works The obvious implementation of highly optimised mining with segregated witnesses will have the main codepath that creates blocks do no validation at all; if the current ecosystem's validationless mining is any indication the actual code doing this will be proprietary codebases written on a budget with little testing, and lots of bugs. At best the codepaths that actually do validation will be rarely, if ever, tested in production. Secondly, as the UTXO set can be updated without the witness data, it would not be surprising if at least some of the wallet ecosystem skips witness validation. With that in mind, what happens in the event of a validation failure? Mining could continue indefinitely on an invalid chain, producing blocks that in isolation appear totally normal and contain apparently valid transactions.
Console gaming is hardly different from PC gaming, and much of what people say about PC gaming to put it above console gaming is often wrong.
I’m not sure about you, but for the past few years, I’ve been hearing people go on and on about PCs "superiority" to the console market. People cite various reasons why they believe gaming on a PC is “objectively” better than console gaming, often for reasons related to power, costs, ease-of-use, and freedom. …Only problem: much of what they say is wrong. There are many misconceptions being thrown about PC gaming vs Console gaming, that I believe need to be addressed. This isn’t about “PC gamers being wrong,” or “consoles being the best,” absolutely not. I just want to cut through some of the stuff people use to put down console gaming, and show that console gaming is incredibly similar to PC gaming. I mean, yes, this is someone who mainly games on console, but I also am getting a new PC that I will game on as well, not to mention the 30 PC games I already own and play. I’m not particularly partial to one over the other. Now I will mainly be focusing on the PlayStation side of the consoles, because I know it best, but much of what I say will apply to Xbox as well. Just because I don’t point out many specific Xbox examples, doesn’t mean that they aren’t out there.
“PCs can use TVs and monitors.”
This one isn’t so much of a misconception as it is the implication of one, and overall just… confusing. This is in some articles and the pcmasterrace “why choose a PC” section, where they’re practically implying that consoles can’t do this. I mean, yes, as long as the ports of your PC match up with your screen(s) inputs, you could plug a PC into either… but you could do the same with a console, again, as long as the ports match up. I’m guessing the idea here is that gaming monitors often use Displayport, as do most dedicated GPUs, and consoles are generally restricted to HDMI… But even so, monitors often have HDMI ports. In fact, PC Magazine has just released their list of the best gaming monitors of 2017, and every single one of them has an HDMI port. A PS4 can be plugged into these just as easily as a GTX 1080. I mean, even if the monitoTV doesn’t have HDMI or AV to connect with your console, just use an adaptor. If you have a PC with ports that doesn’t match your monitoTV… use an adapter. I don’t know what the point of this argument is, but it’s made a worrying amount of times.
“On PC, you have a wide range of controller options, but on console you’re stuck with the standard controller."
Are you on PlayStation and wish you could use a specific type of controller that suits your favorite kind of gameplay? Despite what some may believe, you have just as many options as PC. Want to play fighting games with a classic arcade-style board, featuring the buttons and joystick? Here you go! Want to get serious about racing and get something more accurate and immersive than a controller? Got you covered. Absolutely crazy about flying games and, like the racers, want something better than a controller? Enjoy! Want Wii-style motion controls? Been around since the PS3. If you prefer the form factor of the Xbox One controller but you own a PS4, Hori’s got you covered. And of course, if keyboard and mouse it what keeps you on PC, there’s a PlayStation compatible solution for that. Want to use the keyboard and mouse that you already own? Where there’s a will, there’s a way. Of course, these aren’t isolated examples, there are plenty of options for each of these kind of controllers. You don’t have to be on PC to enjoy alternate controllers.
“On PC you could use Steam Link to play anywhere in your house and share games with others.”
PS4 Remote play app on PC/Mac, PSTV, and PS Vita. PS Family Sharing. Using the same PSN account on multiple PS4s/Xbox Ones and PS3s/360s, or using multiple accounts on the same console. In fact, if multiple users are on the same PS4, only one has to buy the game for both users to play it on that one PS4. On top of that, only one of them has to have PS Plus for both to play online (if the one with PS Plus registers the PS4 as their main system). PS4 Share Play; if two people on separate PS4s want to play a game together that only one of them owns, they can join a Party and the owner of the game can have their friend play with them in the game. Need I say more?
“Gaming is more expensive on console.”
Part one, the Software This is one that I find… genuinely surprising. There’s been a few times I’ve mentioned that part of the reason I chose a PS4 is for budget gaming, only to told that “games are cheaper on Steam.” To be fair, there are a few games on PSN/XBL that are more expensive than they are on Steam, so I can see how someone could believe this… but apparently they forgot about disks. Dirt Rally, a hardcore racing sim game that’s… still $60 on all 3 platforms digitally… even though its successor is out.
Just Cause 3, an insane open-world experience that could essentially be summed up as “break stuff, screw physics.” And it’s a good example of where the Steam price is lower than PSN and XBL:
See my point? Often times the game is cheaper on console because of the disk alternative that’s available for practically every console-available game. Even when the game is brand new. Dirt 4 - Remember that Dirt Rally successor I mentioned?
Yes, you could either buy this relatively new game digitally for $60, or just pick up the disk for a discounted price. And again, this is for a game that came out 2 months ago, and even it’s predecessor’s digital cost is locked at $60. Of course, I’m not going to ignore the fact that Dirt 4 is currently (as of writing this) discounted on Steam, but on PSN it also happens to be discounted for about the same amount. Part 2: the Subscription Now… let’s not ignore the elephant in the room: PS Plus and Xbox Gold. Now these would be ignorable, if they weren’t required for online play (on the PlayStation side, it’s only required for PS4, but still). So yes, it’s still something that will be included in the cost of your PS4 or Xbox One/360, assuming you play online. Bummer, right? Here’s the thing, although that’s the case, although you have to factor in this $60 cost with your console, you can make it balance out, at worst, and make it work out for you as a budget gamer, at best. As nice as it would be to not have to deal with the price if you don’t want to, it’s not like it’s a problem if you use it correctly. Imagine going to a new restaurant. This restaurant has some meals that you can’t get anywhere else, and fair prices compared to competitors. Only problem: you have to pay a membership fee to have the sides. Now you can have the main course, sit down and enjoy your steak or pasta, but if you want to have a side to have a full meal, you have to pay an annual fee. Sounds shitty, right? But here’s the thing: not only does this membership allow you to have sides with your meal, but it also allows you to eat two meals for free every month, and also gives you exclusive discounts for other meals, drinks, and desserts. Let’s look at PS Plus for a minute: for $60 per year, you get:
2 free PS4 games, every month
2 free PS3 games, every month
1 PS4/PS3 and Vita compatible game, and 1 Vita-only game, every month
Exclusive/Extended discounts, especially during the weekly/seasonal sales (though you don’t need PS Plus to get sales, PS Plus members get to enjoy the best sales)
access to online multiplayer
So yes, you’re paying extra because of that membership, but what you get with that deal pays for it and then some. In fact, let’s ignore the discounts for a minute: you get 24 free PS4 games, 24 free PS3 games, and 12 Vita only + 12 Vita compatible games, up to 72freegames every year. Even if you only one of these consoles, that’s still 24 free games a year. Sure, maybe you get games for the month that you don’t like, then just wait until next month. In fact, let’s look at Just Cause 3 again. It was free for PS Plus members in August, which is a pretty big deal. Why is this significant? Because it’s, again, a $60 digital game. That means with this one download, you’ve balanced out your $60 annual fee. Meaning? Every free game after that is money saved, every discount after that is money saved. And this is a trend: every year, PS Plus will release a game that balances out the entire service cost, then another 23 more that will only add icing to that budget cake. Though, you could just count games as paying off PS Plus until you hit $60 in savings, but still. All in all, PS Plus, and Xbox Gold which offers similar options, saves you money. On top of that, again, you don't need to have these to get discounts, but with these memberships, you get more discounts. Now, I’ve seen a few Steam games go up for free for a week, but what about being free for an entire month? Not to mention that; even if you want to talk about Steam Summer Sales, what about the PSN summer sale, or again, disc sale discounts? Now a lot of research and math would be needed to see if every console gamer would save money compared to every Steam gamer for the same games, but at the very least? The costs will balance out, at worst. Part 3, the Systems
Xbox and PS2: $299
Xbox 360 and PS3: $299 and $499, respectively
Xbox One and PS4: $499 and $399, respectively.
Rounded up a few dollars, that’s $1,000 - $1,300 in day-one consoles, just to keep up with the games! Crazy right? So called budget systems, such a rip-off. Well, keep in mind that the generations here aren’t short. The 6th generation, from the launch of the PS2 to the launch of the next generation consoles, lasted 5 years, 6 years based on the launch of the PS3 (though you could say it was 9 or 14, since the Xbox wasn’t discontinued until 2009, and the PS2 was supported all the way to 2014, a year after the PS4 was released). The 7th gen lasted 7 - 8 years, again depending on whether you count the launch of the Xbox 360 to PS3. The 8th gen so far has lasted 4 years. That’s 17 years that the console money is spread over. If you had a Netflix subscription for it’s original $8 monthly plan for that amount of time, that would be over $1,600 total. And let’s be fair here, just like you could upgrade your PC hardware whenever you wanted, you didn’t have to get a console from launch. Let’s look at PlayStation again for example: In 2002, only two years after its release, the PS2 retail price was cut from $300 to $200. The PS3 Slim, released 3 years after the original, was $300, $100-$200 lower than the retail cost. The PS4? You could’ve either gotten the Uncharted bundle for $350, or one of the PS4 Slim bundles for $250. This all brings it down to $750 - $850, which again, is spread over a decade and a half. This isn’t even counting used consoles, sales, or the further price cuts that I didn’t mention. Even if that still sounds like a lot of money to you, even if you’re laughing at the thought of buying new systems every several years, because your PC “is never obsolete,” tell me: how many parts have you changed out in your PC over the years? How many GPUs have you been through? CPUs? Motherboards? RAM sticks, monitors, keyboards, mice, CPU coolers, hard drives— that adds up. You don’t need to replace your entire system to spend a lot of money on hardware. Even if you weren’t upgrading for the sake of upgrading, I’d be amazed if the hardware you’ve been pushing by gaming would last for about 1/3 of that 17 year period. Computer parts aren’t designed to last forever, and really won’t when you’re pushing them with intensive gaming for hours upon hours. Generally speaking, your components might last you 6-8 years, if you’ve got the high-end stuff. But let’s assume you bought a system 17 years ago that was a beast for it’s time, something so powerful, that even if it’s parts have degraded over time, it’s still going strong. Problem is: you will have to upgrade something eventually. Even if you’ve managed to get this far into the gaming realm with the same 17 year old hardware, I’m betting you didn’t do it with a 17 year Operating System. How much did Windows 7 cost you? Or 8.1? Or 10? Oh, and don’t think you can skirt the cost by getting a pre-built system, the cost of Windows is embedded into the cost of the machine (why else would Microsoft allow their OS to go on so many machines). Sure, Windows 10 was a free upgrade for a year, but that’s only half of it’s lifetime— You can’t get it for free now, and not for the past year. On top of that, the free period was an upgrade; you had to pay for 7 or 8 first anyway. Point is, as much as one would like to say that they didn’t need to buy a new system every so often for the sake of gaming, that doesn’t mean they haven’t been paying for hardware, and even if they’ve only been PC gaming recently, you’ll be spending money on hardware soon enough.
“PC is leading the VR—“
Let me stop you right there. If you add together the total number of Oculus Rifts and HTC Vives sold to this day, and threw in another 100,000 just for the sake of it, that number would still be under the number of PSVR headsets sold. Why could this possibly be? Well, for a simple reason: affordability. The systems needed to run the PC headsets costs $800+, and the headsets are $500 - $600, when discounted. PSVR on the other hand costs $450 for the full bundle (headset, camera, and move controllers, with a demo disc thrown in), and can be played on either a $250 - $300 console, or a $400 console, the latter recommended. Even if you want to say that the Vive and Rift are more refined, a full PSVR set, system and all, could cost just over $100 more than a Vive headset alone. If anything, PC isn’t leading the VR gaming market, the PS4 is. It’s the system bringing VR to the most consumers, showing them what the future of gaming could look like. Not to mention that as the PlayStation line grows more powerful (4.2 TFLOP PS4 Pro, 10 TFLOP “PS5…”), it won’t be long until the PlayStation line can use the same VR games as PC. Either way, this shows that there is a console equivalent to the PC VR options. Sure, there are some games you'd only be able to play on PC, but there are also some games you'd only be able to play on PSVR. …Though to be fair, if we’re talking about VR in general, these headsets don’t even hold a candle to, surprisingly, Gear VR.
“If it wasn’t for consoles holding devs back, then they would be able to make higher quality games.”
This one is based on the idea that because of how “low spec” consoles are, that when a developer has to take them in mind, then they can’t design the game to be nearly as good as it would be otherwise. I mean, have you ever seen the minimum specs for games on Steam? GTA V
Actually, bump up all the memory requirements to 8 GBs, and those are some decent specs, relatively speaking. And keep in mind these are the minimum specs to even open the games. It’s almost as if the devs didn’t worry about console specs when making a PC version of the game, because this version of the game isn’t on console. Or maybe even that the consoles aren’t holding the games back that much because they’re not that weak. Just a hypothesis. But I mean, the devs are still ooobviously having to take weak consoles into mind right? They could make their games sooo much more powerful if they were PC only, right? Right? No. Not even close. iRacing
CPU: Intel Core i3, i5, i7 or better or AMD Bulldozer or better
Memory: 8 GB RAM
GPU: NVidia GeForce 2xx series or better, 1GB+ dedicated video memory / AMD 5xxx series or better, 1GB+ dedicated video memory
These are PC only games. That’s right, no consoles to hold them back, they don’t have to worry about whether an Xbox One could handle it. Yet, they don’t require anything more than the Multiplatform games. Subnautica
So what’s the deal? Theoretically, if developers don’t have to worry about console specs, then why aren’t they going all-out and making games that no console could even dream of supporting? Low-end PCs. What, did you think people only game on Steam if they spent at least $500 on gaming hardware? Not all PC gamers have gaming-PC specs, and if devs close their games out to players who don’t have the strongest of PCs, then they’d be losing out on a pretty sizable chunk of their potential buyers. Saying “devs having to deal with consoles is holding gaming back” is like saying “racing teams having to deal with Ford is holding GT racing back.” A: racing teams don’t have to deal with Ford if they don’t want to, which is probably why many of them don’t, and B: even though Ford doesn’t make the fastest cars overall, they still manage to make cars that are awesome on their own, they don’t even need to be compared to anything else to know that they make good cars. I want to go back to that previous point though, developers having to deal with low-end PCs, because it’s integral to the next point:
“PCs are more powerful, gaming on PC provides a better experience.”
This one isn’t so much of a misconception as it is… misleading. Did you know that according to the Steam Hardware & Software Survey (July 2017) , the percentage of Steam gamers who use a GPU that's less powerful than that of a PS4Slim’s GPU is well over 50%? Things get dismal when compared to the PS4 Pro (Or Xbox One X). On top of that, the percentage of PC gamers who own a Nvidia 10 series card is about 20% (about 15% for the 1060, 1080 and 1070 owners). Now to be fair, the large majority of gamers have CPUs with considerably high clock speeds, which is the main factor in CPU gaming performance. But, the number of Steam gamers with as much RAM or more than a PS4 or Xbox One is less than 50%, which can really bottleneck what those CPUs can handle. These numbers are hardly better than they were in 2013, all things considered. Sure, a PS3/360 weeps in the face of even a $400 PC, but in this day in age, consoles have definitely caught up. Sure, we could mention the fact that even 1% of Steam accounts represents over 1 million accounts, but that doesn’t really matter compared to the 10s of millions of 8th gen consoles sold; looking at it that way, sure the number of Nvidia 10 series owners is over 20 million, but that ignores the fact that there are over 5 times more 8th gen consoles sold than that. Basically, even though PCs run on a spectrum, saying they're more powerful “on average” is actually wrong. Sure, they have the potential for being more powerful, but most of the time, people aren’t willing to pay the premium to reach those extra bits of performance. Now why is this important? What matters are the people who spent the premium cost for premium parts, right? Because of the previous point: PCs don’t have some ubiquitous quality over the consoles, developers will always have to keep low-end PCs in mind, because not even half of all PC players can afford the good stuff, and you have to look at the top quarter of Steam players before you get to PS4-Pro-level specs. If every Steam player were to get a PS4 Pro, it would be an upgrade for over 60% of them, and 70% of them would be getting an upgrade with the Xbox One X. Sure, you could still make the argument that when you pay more for PC parts, you get a better experience than you could with a console. We can argue all day about budget PCs, but a console can’t match up to a $1,000 PC build. It’s the same as paying more for car parts, in the end you get a better car. However, there is a certain problem with that…
“You pay a little more for a PC, you get much more quality.”
The idea here is that the more you pay for PC parts, the performance increases at a faster rate than the price does. Problem: that’s not how technology works. Paying twice as much doesn’t get you twice the quality the majority of the time. For example, let’s look at graphics cards, specifically the GeForce 10 series cards, starting with the GTX 1050.
1.8 TFLOP
1.35 GHz base clock
2 GB VRAM
$110
This is our reference, our basis of comparison. Any percentages will be based on the 1050’s specs. Now let’s look at the GTX 1050 Ti, the 1050’s older brother.
2.1 TFLOP
1.29 GHz base clock
4 GB VRAM
$140 retail
This is pretty good. You only increase the price by about 27%, and you get an 11% increase in floating point speed and a 100% increase (double) in VRAM. Sure you get a slightly lower base clock, but the rest definitely makes up for it. In fact, according to GPU boss, the Ti managed 66 fps, or a 22% increase in frame rate for Battlefield 4, and a 54% increase in mHash/second in bitcoin mining. The cost increase is worth it, for the most part. But let’s get to the real meat of it; what happens when we double our budget? Surely we should see a massive increase performance, I bet some of you are willing to bet that twice the cost means more than twice the performance. The closest price comparison for double the cost is the GTX 1060 (3 GB), so let’s get a look at that.
3.0 TFLOP
1.5 GHz base clock
3 GB VRAM
$200 retail
Well… not substantial, I’d say. About a 50% increase in floating point speed, an 11% increase in base clock speed, and a 1GB decrease in VRAM. For [almost] doubling the price, you don’t get much. Well surely raw specs don’t tell the full story, right? Well, let’s look at some real wold comparisons. Once again, according to GPU Boss, there’s a 138% increase in hashes/second for bitcoin mining, and at 99 fps, an 83% frame rate increase in Battlefield 4. Well, then, raw specs does not tell the whole story! Here’s another one, the 1060’s big brother… or, well, slightly-more-developed twin.
3.9 TFLOP
1.5 GHz base clock
6 GB VRAM
$250 retail
Seems reasonable, another $50 for a decent jump in power and double the memory! But, as we’ve learned, we shouldn’t look at the specs for the full story. I did do a GPU Boss comparison, but for the BF4 frame rate, I had to look at Tom’s Hardware (sorry miners, GPU boss didn’t cover the mHash/sec spec either). What’s the verdict? Well, pretty good, I’d say. With 97 FPS, a 79% increase over the 1050— wait. 97? That seems too low… I mean, the 3GB version got 99. Well, let’s see what Tech Power Up has to say... 94.3 fps. 74% increase. Huh. Alright alright, maybe that was just a dud. We can gloss over that I guess. Ok, one more, but let’s go for the big fish: the GTX 1080.
9.0 TFLOP
1.6 GHz base clock
8 GB VRAM
$500 retail
That jump in floating point speed definitely has to be something, and 4 times the VRAM? Sure it’s 5 times the price, but as we saw, raw power doesn’t always tell the full story. GPU Boss returns to give us the run down, how do these cards compare in the real world? Well… a 222% (over three-fold) increase in mHash speed, and a 218% increase in FPS for Battlefield 4. That’s right, for 5 times the cost, you get 3 times the performance. Truly, the raw specs don’t tell the full story. You increase the cost by 27%, you increase frame rate in our example game by 22%. You increase the cost by 83%, you increase the frame rate by 83%. Sounds good, but if you increase the cost by 129%, and you get a 79% (-50% cost/power increase) increase in frame rate. You increase it by 358%, and you increase the frame rate by 218% (-140% cost/power increase). That’s not paying “more for much more power,” that’s a steep drop-off after the third cheapest option. In fact, did you know that you have to get to the 1060 (6GB) before you could compare the GTX line to a PS4 Pro? Not to mention that at $250, the price of a 1060 (6GB) you could get an entire PS4 Slim bundle, or that you have to get to the 1070 before you beat the Xbox One X. On another note, let’s look at a PS4 Slim…
1.84 TFLOP
800 MHz base clock
8 GB VRAM
$300 retail
…Versus a PS4 Pro.
4.2 TFLOP
911 MHz base clock
8 GB VRAM
$400 retail
128% increase in floating point speed, 13% increase in clock speed, for a 25% difference in cost. Unfortunately there is no Battlefield 4 comparison to make, but in BF1, the frame rate is doubled (30 fps to 60) and the textures are taken to 11. For what that looks like, I’ll leave it up to this bloke. Not to even mention that you can even get the texture buffs in 4K. Just like how you get a decent increase in performance based on price for the lower-cost GPUs, the same applies here. It’s even worse when you look at the CPU for a gaming PC. The more money you spend, again, the less of a benefit you get per dollar. Hardware Unboxed covers this in a video comparing different levels of Intel CPUs. One thing to note is that the highest i7 option (6700K) in this video was almost always within 10 FPS (though for a few games, 15 FPS) of a certain CPU in that list for just about all of the games. …That CPU was the lowest i3 (6100) option. The lowest i3 was $117 and the highest i7 was $339, a 189% price difference for what was, on average, a 30% or less difference in frame rate. Even the lowest Pentium option (G4400, $63) was often able to keep up with the i7. The CPU and GPU are usually the most expensive and power-consuming parts of a build, which is why I focused on them (other than the fact that they’re the two most important parts of a gaming PC, outside of RAM). With both, this “pay more to get much more performance” idea is pretty much the inverse of the truth.
“The console giants are bad for game developers, Steam doesn't treat developers as bad as Microsoft or especially Sony.”
Now one thing you might’ve heard is that the PS3 was incredibly difficult for developers to make games for, which for some, fueled the idea that console hardware is difficult too develop on compared to PC… but this ignores a very basic idea that we’ve already touched on: if the devs don’t want to make the game compatible with a system, they don’t have to. In fact, this is why Left 4 Dead and other Valve games aren’t on PS3, because they didn’t want to work with it’s hardware, calling it “too complex.” This didn’t stop the game from selling well over 10 million units worldwide. If anything, this was a problem for the PS3, not the dev team. This also ignores that games like LittleBigPlanet, Grand Theft Auto IV, and Metal Gear Solid 4 all came out in the same year as Left 4 Dead (2008) on PS3. Apparently, plenty of other dev teams didn’t have much of a problem with the PS3’s hardware, or at the very least, they got used to it soon enough. On top of that, when developing the 8th gen consoles, both Sony and Microsoft sought to use CPUs that were easier for developers, which included making decisions that considered apps for the consoles’ usage for more than gaming. On top of that, using their single-chip proprietary CPUs is cheaper and more energy efficient than buying pre-made CPUs and boards, which is far better of a reason for using them than some conspiracy about Sony and MS trying to make devs' lives harder. Now, console exclusives are apparently a point of contention: it’s often said that exclusive can cause developers to go bankrupt. However, exclusivity doesn’t have to be a bad thing for the developer. For example, when Media Molecule had to pitch their game to a publisher (Sony, coincidentally), they didn’t end up being tied into something detrimental to them. Their initial funding lasted for 6 months. From then, Sony offered additional funding, in exchange for Console Exclusivity. This may sound concerning to some, but the game ended up going on to sell almost 6 million units worldwide and launched Media Molecule into the gaming limelight. Sony later bought the development studio, but 1: this was in 2010, two years after LittleBigPlanet’s release, and 2: Media Molecule seem pretty happy about it to this day. If anything, signing up with Sony was one of the best things they could’ve done, in their opinion. Does this sound like a company that has it out for developers? There are plenty of examples that people will use to put Valve in a good light, but even Sony is comparatively good to developers.
“There are more PC gamers.”
The total number of active PC gamers on Steam has surpassed 120 million, which is impressive, especially considering that this number is double that of 2013’s figure (65 million). But the number of monthly active users on Xbox Live and PSN? About 120 million (1, 2) total. EDIT: You could argue that this isn't an apples-to-apples comparison, sure, so if you want to, say, compare the monthly number of Steam users to console? Steam has about half of what consoles do, at 67 million. Now, back to the 65 million total user figure for Steam, the best I could find for reference for PlayStation's number was an article giving the number of registered PSN accounts in 2013, 150 million. In a similar 4-year period (2009 - 2013), the number of registered PSN accounts didn’t double, it sextupled, or increased by 6 fold. Considering how the PS4 is already at 2/3 of the number of sales the PS3 had, even though it’s currently 3 years younger than its predecessor, I’m sure this trend is at least generally consistent. For example, let’s look at DOOM 2016, an awesome faced-paced shooting title with graphics galore… Of course, on a single platform, it sold best on PC/Steam. 2.36 million Steam sales, 2.05 million PS4 sales, 1.01 million Xbox One sales. But keep in mind… when you add the consoles sales together, you get over 3 million sales on the 8th gen systems. Meaning: this game was best sold on console. In fact, the Steam sales have only recently surpassed the PS4 sales. By the way VG charts only shows sales for physical copies of the games, so the number of PS4 and Xbox sales, when digital sales are included, are even higher than 3 million. This isn’t uncommon, by the way. Even with the games were the PC sales are higher than either of the consoles, there generally are more console sales total. But, to be fair, this isn’t anything new. The number of PC gamers hasn’t dominated the market, the percentages have always been about this much. PC can end up being the largest single platform for games, but consoles usually sell more copies total. EDIT: There were other examples but... Reddit has a 40,000-character limit.
This isn’t to say that there’s anything wrong with PC gaming, and this isn’t to exalt consoles. I’m not here to be the hipster defending the little guy, nor to be the one to try to put down someone/thing out of spite. This is about showing that PCs and consoles are overall pretty similar because there isn’t much dividing them, and that there isn’t anything wrong with being a console gamer. There isn’t some chasm separating consoles and PCs, at the end of the day they’re both computers that are (generally) designed for gaming. This about unity as gamers, to try to show that there shouldn’t be a massive divide just because of the computer system you game on. I want gamers to be in an environment where specs don't separate us; whether you got a $250 PS4 Slim or just built a $2,500 gaming PC, we’re here to game and should be able to have healthy interactions regardless of your platform. I’m well aware that this isn’t going to fix… much, but this needs to be said: there isn’t a huge divide between the PC and consoles, they’re far more similar than people think. There are upsides and downsides that one has that the other doesn’t on both sides. There’s so much more I could touch on, like how you could use SSDs or 3.5 inch hard drives with both, or that even though PC part prices go down over time, so do consoles, but I just wanted to touch on the main points people try to use to needlessly separate the two kinds of systems (looking at you PCMR) and correct them, to get the point across. I thank anyone who takes the time to read all of this, and especially anyone who doesn’t take what I say out of context. I also want to note that, again, thisisn’t “anti-PC gamer.” If it were up to me, everyone would be a hybrid gamer. Cheers.
As always, the past 3 months since 22nd June have been crazy busy. The bears might still be around, but the show must go on and of course has not slowed the Groestlcoin development team in the slightest. Here’s a quick overview of what has already happened since the last release: - Integrated into the bitbns exchange, with the ability to buy Groestlcoin directly with the Indian Rupee. - Groestlcoin Rebrand Vote – Whilst there was much talk and push for a rebrand vote, the overall result was almost unanimously in favour of keeping our unique and conversation-starting name. With just 83 votes to Rebrand, and 2577 votes to No Rebrand. Thank you for all who voted, the funds raised are being used to fund ongoing hosting and development costs. - Integrated into the Cryptobridge exchange. Cryptobridge is a popular decentralised exchange where you always hold the private keys to your funds, only YOU have access to them. - Groestlcoin has been added to SimpleSwap – Groestlcoin can now be swapped with over 100 other cryptocurrencies, without signing up! - Groestlcoin has been added to UnoDax, one of the leading cryptocurrency exchanges in India, with TUSD, BTC and INR trading pairs. - Groestlcoin has been added to SwapLab.cc, where you can buy Groestlcoin using Bitcoin and over 50 other altcoins. Purchasing with VISA/Mastercard is coming VERY SOON. Discussed later: - Groestlcoin has been listed on #3 largest exchange in the world on volume, Huobi Global! More on this to come further on in the announcements. - Groestlcoin has been added to the Guarda Multi-Currency Wallet. - Groestlcoin has been added to Melis Multi-Device, Multi-Account, Multi-Platform, Multi-Signature advanced wallet! Already this list is far more than most other cryptocurrencies have achieved in the past 3 months. But this is just the tip of the iceberg of what has been developed.
The the most advanced wallet for Bitcoin, Bitcoin Cash, Litecoin and now Groestlcoin.
With Melis you have the complete control of your bitcoins and private keys, you can define spending limits policies and make use of two or more factors authentication. Melis is open source, published on GitHub.
How Melis Works?
You can create as many accounts as you want. An account is a part of your wallet that can be customised to your requirements. You can choose how many co-signers are required to spend funds. The accounts are completely independent and act like separate wallets from each other but can be accessed via the same details. A core feature of Melis is the ability to set a ‘primary’ device. With this you can set an account as ‘Secure’ so it is only viewable (and accessible at all) from the Primary device. You can have a savings account hidden from the outside world whilst also having your ‘spending’ funds available on the go. With Melis you can create a multi-signature account between N people, where up to N signatures are required to sign a transaction, choosing if any of those should be mandatory.
Core Features:
Multi-Device – Ability to hide accounts from all but the primary account.
Multi-Account – Multiple, entirely separate accounts in one wallet.
Multi-Platform – Available on iOS, Android, Web, Windows, Linux and Mac OS
Multi-Signature – Create multi-signature accounts between many people, where a certain amount of people’s signatures is required to sign a transaction. Some can be required before a transaction is signed.
Native support for many currencies – Multiple currencies are supported, accessed all from the same wallet and backup keywords.
Advanced Coin Control (Choose which UTXO are involved in the transaction), multiple destinations and manual fee settings.
2FA support for enhanced security, also available via Telegram.
Wrong-Currency detection. The server knows if someone sends BTC to a BCH address and visa versa and automatically creates a new account to be able to recover the funds.
A single backup using standard BIP39 mnemonics is valid and enough for an unlimited number of transactions, address and different account types
Safer than ever! Desktop Light Wallet - Anonymous and fast!
With Guarda Multi-currency Desktop Light Wallet you don’t need to register. Guarda has no access to your private keys or funds. You can receive, send, store, buy and exchange cryptocurrencies in complete anonymity and safety. All these features are available on Linux, Windows or MacOS. Choose the one that suits you! More info about Guarda wallet on www.guarda.co https://holytransaction.com/images/logo.png
Integrated into HolyTransaction
What is HolyTransaction?
HolyTransaction gives users access to the crypto world with a universal cryptocurrency wallet and instant exchange.
Features
Cryptocurrency Exchange HolyTransaction features a cryptocurrency exchange where you can exchange between all popular currencies with just a few clicks. Instant send from one currency to another.
Simple to use - With a simple, no-handdles GUI, anyone can now use and have access to cryptocurrency.
Cutting-Edge security - Following industry-best standards, and guarentee that your money is safe. Utilising hot and cold storage wallets.
Features an API whereby you can integrate cryptocurrency support into any website, from invoice processing to white-labelled multi-currency wallets.
Blockchain Financial is a set of web based services for individuals and companies that want to make things happen with the Cryptocurrencies Ecosystem. - For those that don't know anything about cryptocurrencies, we offer tools that will let them receive, send and operate with an assortment of coins. - For those that are already riding the wave, we offer tools that will let them do all those things that they weren't able to do.
Blockchain Financials mission
We're not here to reinvent the wheel. We're here to make it run smoother for you, and we provide some of the most useful services you'll find on the internet, made in a way that is easy to understand and use on a daily basis. In short, we're a bunch of people that claim to be Crypto Evangelists. We strongly believe in cryptocurrencies, and our main promise is to push them up so more people get involved and take all the advantages they offer.
More information from Blockchain Financial
Back in 2014, the world was taken by storm when Facebook approved the first cryptocurrencies tipping apps. The first was for Dogecoin, and the second was for multiple coins. The project was hosted on whitepuma.net, and persisted for almost two years, built up a massive user community and gave a home to Bitcoin, Litecoin, Dogecoin and dozens of other bitcoin-based altcoins. After very active months, the tipping hype started to fade away. Then, the developers decided to jump into the next stage: bringing not only tipping, but also mining and a widget that could be embedded on websites to allow everyone to accept payments. Sadly, the work was never completed because the project started to require an unsustainable amount of resources. Then, in a painful decision, a shutdown was announced by December 2015. A couple of months after whitepuma.net was closed, the source code was released by its creator as Open Source on GitHub. But it wasn't maintained. Now, some of the original members of the dev and admin teams gathered up with a handful of the WhitePuma's elite users, and decided to make something good with the best pieces of the old source code. That, with fresh new ideas and the power of the BardCanvas engine, synthesized the core of Blockchain Financial.
Huobi was founded in China and is now based in Singapore, with offices in Hong Kong, South Korea, Japan and the North America, currently sitting #3 in volume on Coinmarketcap. Huobi is a great leap forward for our growing presence in Asia and we are very excited to be listed here! You can find the official Huobi announcement here.
Groestlcoin Core v2.16.3 - Please Update ASAP
A new major Groestlcoin Core version 2.16.3 is now available for download which includes both a Denial of Service component and a critical inflation vulnerability, so it is recommended to upgrade to it if you are running a full Groestlcoin node or a local Groestlcoin Core wallet. v2.16.3 is now the official release version of Groestlcoin Core. This is a new major version release with a very important security updates. It is recommended to upgrade to this version as soon as possible. Please stop running versions of Groestlcoin Core affected by CVE-2018-17144 ASAP: These are 2.13.3 and 2.16.0. As a result in this, all exchanges and services have been asked to upgrade to this version, so please be patient if wallets go in to maintenance mode on these services.
What's new in version v2.16.3?
This is a major release of Groestlcoin Core fixing a Denial of Service component and a critical inflation vulnerability (https://nvd.nist.gov/vuln/detail/CVE-2018-17144) exploitable by miners that has been discovered in Groestlcoin Core version 2.13.3 and 2.16.0. It is recommended to upgrade to 2.16.3 as soon as possible. If you only occasionally run Groestlcoin Core, then it's not necessary to run out and upgrade it right this second. However, you should upgrade it before you next run it. If you know anyone who is running an older version, tell them to upgrade it ASAP. Stored funds are not at risk, and never were at risk. At this time we believe over half of the Groestlcoin hashrate has upgraded to patched nodes. We are unaware of any attempts to exploit this vulnerability. However, it still remains critical that affected users upgrade and apply the latest patches to ensure no possibility of large reorganizations, mining of invalid blocks, or acceptance of invalid transactions occurs.
The Technicals
In Groestlcoin Core 2.13.3, an optimization was added (Bitcoin Core PR #9049) which avoided a costly check during initial pre-relay block validation that multiple inputs within a single transaction did not spend the same input twice which was added in 2012 (Bitcoin Core PR #443). While the UTXO-updating logic has sufficient knowledge to check that such a condition is not violated in 2.13.3 it only did so in a sanity check assertion and not with full error handling (it did, however, fully handle this case twice in prior to 2.1.0.6). Thus, in Groestlcoin Core 2.13.3, any attempts to double-spend a transaction output within a single transaction inside of a block will result in an assertion failure and a crash, as was originally reported. In Groestlcoin Core 2.16.0, as a part of a larger redesign to simplify unspent transaction output tracking and correct a resource exhaustion attack the assertion was changed subtly. Instead of asserting that the output being marked spent was previously unspent, it only asserts that it exists. Thus, in Groestlcoin Core 2.16.0, any attempts to double-spend a transaction output within a single transaction inside of a block where the output being spent was created in the same block, the same assertion failure will occur. However, if the output being double-spent was created in a previous block, an entry will still remain in the CCoin map with the DIRTY flag set and having been marked as spent, resulting in no such assertion. This could allow a miner to inflate the supply of Groestlcoin as they would be then able to claim the value being spent twice. Groestlcoin would like to publicly thank Reddit user u/Awemany for finding CVE-2018-17144 and reporting it (https://lists.linuxfoundation.org/pipermail/bitcoin-core-dev/2018-Septembe000064.html). You deserve gratitude and appreciation from cryptoworld, and you have ours. If you want to support him for his work, please consider donating to him on his bitcoin cash address: bitcoincash:qr5yuq3q40u7mxwqz6xvamkfj8tg45wyus7fhqzug5 http://i.imgur.com/3YhyNZK.png
Electrum-GRS is a lightweight "thin client" groestlcoin wallet Windows, MacOS and Linux based on a client-server protocol. Its main advantages over the original Groestlcoin client include support for multi-signature wallets and not requiring the download of the entire block chain.
Changes:
Qt GUI: seed word auto-complete during restore
performance improvements (wallet, and Qt GUI)
hardware wallets: show debug message during device scan
add regtest support (via --regtest flag)
other minor bugfixes and usability improvements
If present, libsecp256k1 is used to speed up elliptic curve operations. The library is bundled in the Windows, MacOS, and Android binaries. On Linux, it needs to be installed separately.
Transactions that are dropped from the mempool are kept in the wallet as 'local', and can be rebroadcast. Previously these transactions were deleted from the wallet.
The scriptSig and witness part of transaction inputs are no longer parsed, unless actually needed. The wallet will no longer display 'from' addresses corresponding to transaction inputs, except for its own inputs.
The partial transaction format has been incompatibly changed. This was needed as for partial transactions the scriptSig/witness has to be parsed, but for signed transactions we did not want to do the parsing. Users should make sure that all instances of Electrum-GRS they use to co-sign or offline sign, are updated together.
Signing of partial transactions created with online imported addresses wallets now supports significantly more setups. Previously only online p2pkh address + offline WIF was supported. Now the following setups are all supported: > online {p2pkh, p2wpkh-p2sh, p2wpkh} address + offline WIF, > online {p2pkh, p2wpkh-p2sh, p2wpkh} address + offline seed/xprv, > online {p2sh, p2wsh-p2sh, p2wsh}-multisig address + offline seeds/xprvs > (Potentially distributed among several different machines) Note that for the online address + offline HD secret case, you need the offline wallet to recognize the address (i.e. within gap limit). Having an xpub on the online machine is still the recommended setup, as this allows the online machine to generate new addresses on demand.
Segwit multisig for bip39 and hardware wallets is now enabled (both p2wsh-p2sh and native p2wsh).
Ledger: offline signing for segwit inputs (#3302) This has already worked for Trezor. Offline segwit signing can be combined with online imported addresses wallets.
Added Revealer plugin. ( https://revealer.cc ) Revealer is a seed phrase back-up solution. It allows you to create a cold, analog, multi-factor backup of your wallet seeds, or of any arbitrary secret. The Revealer utilizes a transparent plastic visual one time pad.
Fractional fee rates: the Qt GUI now displays fee rates with 0.1 gro/byte precision, and also allows this same resolution in the Send tab.
Hardware wallets: a "show address" button is now displayed in the Receive tab of the Qt GUI. (#4316)
Electrum-grs is a lightweight "thin client" groestlcoin wallet Android based on a client-server protocol. Its main advantages over the original Groestlcoin client include support for multi-signature wallets and not requiring the download of the entire block chain.
Changes
Android: fix some crashes
If present, libsecp256k1 is used to speed up elliptic curve operations. The library is bundled in the Windows, MacOS, and Android binaries. On Linux, it needs to be installed separately.
Two-factor authentication is available on Android. Note that this will only provide additional security if one time passwords are generated on a separate device.
Semi-automated crash reporting is implemented for Android.
Qt/Kivy: added "gro" as optional base unit.
Kivy GUI: significant performance improvements when displaying history and address list of large wallets; and transaction dialog of large transactions.
Groestlcoin EasyVanity Released
Groestlcoin EasyVanity is a Windows app is built from the ground-up in C# and makes it easier than ever before to create your very own bespoke Groestlcoin address(es), even whilst not connected to the internet! You can even generate multiple keys with the same prefix and leave it on overnight whilst your CPU or GPU collects and stores these addresses locally.
If you're tired of the random, cryptic addresses generated by regular groestlcoin clients, then Groestlcoin EasyVanity is the right choice for you to create a more personalized address.
Features
• Ability to continue finding keys after first one is found • Includes warning on startup if connected to the internet • Ability to output keys to a text file (And shows button to open that directory) • Ability to make your match case sensitive (Where possible) • Show and hide the private key with a simple toggle switch, and copy the private key straight to your clipboard • Show full output of commands • Includes statistics whilst the application is running • Ability to choose between Processor (CPU) and Graphics Card (GPU) • Automatically detects 32 or 64 bit systems • Features both a Light and Dark Material Design inspired Themes • EasyVanity's search is probabilistic, and the amount of time required to find a given pattern depends on how complex the pattern is, the speed of your computer, and whether you get lucky. • EasyVanity includes components to perform address searching on your CPU (vanitygen) and your OpenCL-compatible GPU (oclvanitygen). Both can be built from source, and both are included in the Windows binary package. • Prefixes are exact strings that must appear at the beginning of the address. When searching for prefixes, Easyvanity will ensure that the prefix is possible, and will provide a difficulty estimate. • The percentage displayed just shows how probable it is that a match would be found in the session so far. If it finds your address with 5% on the display, you are extremely lucky. If it finds your address with 92% on the display, you are unlucky. If you stop EasyVanity with 90% on the display, restart it, and it finds your address with 2% on the display, your first session was unlucky, but your second session was lucky. • EasyVanity uses the OpenSSL random number generator. This is the same RNG used by groestlcoin and a good number of HTTPS servers. It is regarded as well-scrutinized. Guessing the private key of an address found by EasyVanity will be no easier than guessing a private key created by groestlcoin itself. • To speed up address generation, EasyVanity uses the RNG to choose a private key, and literally increments the private key in a loop searching for a match. As long as the starting point is not disclosed, if a match is found, the private key will not be any easier to guess than if every private key tested were taken from the RNG. EasyVanity will also reload the private key from the RNG after 10,000,000 unsuccessful searches (100M for oclvanitygen), or when a match is found and multiple patterns are being searched for. • Free software - MIT. Anyone can audit the code. • Written in C# - The code is short, and easy to review.
Groestlcoin Sentinel is the easiest and fastest way to track/receive/watch payments in your offline Groestlcoin Wallets. Groestlcoin Sentinel is compatible with any standard Groestlcoin address, BIP44 XPUB (Extended Public Key) BIP49 YPUB and BIP84 ZPUB 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 particular wallet.
What's New?
Track Segwit BIP84 ZPUBs extended pubkeys
Sweep Segwit BIP49 (P2SH-P2WPHK) and Segwit BIP84 (bech32) amounts into selected account/address
Broadcast hex tx
Added option to chose from Binance and Upbit as selected Exchange
Added Korean Won as price option
Receive address closes upon receipt of groestlcoin
Fix EUR price  ### Groestlcoin P2SH Paper Wallet #### What is Groestlcoin P2SH Paper Wallet? Groestlcoin P2SH paperwallet is a simple groestlcoin paper wallet generator that utilizes Segregated Witness (SegWit) Pay To Witness Public Key Hash (P2WPKH) addresses and transactions.
The P2SH paperwallet supports creating P2SH paperwallets in bulk, keypair generation with QR codes and sweeping tool. Groestlcoin believes strongly in privacy, the live version does not collect and store IP or transaction data.
Changes
Details section to validate private keys and to view corresponding segwit address, public key and redeem script.
Segwit brain wallet
Removed Vanity generator as it was very slow. (Please use VanityGen command line or EasyVanity instead)
Rebranded segwit paperwallet to p2sh paperwallet
Favicon updated
Testnet support added
Groestlcoin Sentinel can sweep funds from private keys and QR codes generated with this tool
Groestlcoin Sentinel Testnet can sweep funds from private keys and QR codes generated with this tool
Electrum-GRS can import private keys using the console and the importprivkey() command. Import as P2SH segwit: importprivkey('p2wpkh-p2sh:KzTLBvC6mNudLBjEmwYCuk3jrZ7sZS8CzFDzcrwnDM2CVpH8vNAn')
Electrum-GRS Testnet can import private keys using the console and the importprivkey() command. Import as P2SH segwit: importprivkey('p2wpkh-p2sh:cNNDi1AT8XNng2wJ5HNFN41toufU9XZ2bW8MGi7c9SGw4hnMuASk')
Features
Keypair generation with QR Codes
Bulk address generator
Key Sweeping Tool to move all funds belonging to a single SegWit private key.  ### Groestlcoin BECH32 Paper Wallet Released #### What is Groestlcoin BECH32 Paper Wallet? Groestlcoin BECH32 paperwallet is a simple groestlcoin paper wallet generator that utilizes Segregated Witness (SegWit) Pay To Witness Public Key Hash (P2WPKH) addresses and transactions.
The BECH32 paperwallet supports creating BECH32 paperwallets in bulk, keypair generation with QR codes and sweeping tool. Groestlcoin believes strongly in privacy, the live version does not collect and store IP or transaction data.
Features
Detail section to validate private keys and to view corresponding segwit address, public key and redeem script.
Segwit brain wallet
Testnet support
Groestlcoin Sentinel can sweep funds from private keys and QR codes generated with this tool
Groestlcoin Sentinel Testnet can sweep funds from private keys and QR codes generated with this tool
Electrum-GRS can import private keys using the console and the importprivkey() command. Import as P2SH segwit: importprivkey('p2wpkh-p2sh:KzTLBvC6mNudLBjEmwYCuk3jrZ7sZS8CzFDzcrwnDM2CVpH8vNAn')
Electrum-GRS Testnet can import private keys using the console and the importprivkey() command. Import as P2SH segwit: importprivkey('p2wpkh-p2sh:cNNDi1AT8XNng2wJ5HNFN41toufU9XZ2bW8MGi7c9SGw4hnMuASk')
Bulk address generator
Key Sweeping Tool to move all funds belonging to a single SegWit private key.
Groestlcoin Webwallet is an open source, multisignature, HD Wallet and more! Webwallet is a a open source browser based Groestlcoin webwallet. Webwallet is a playground for Groestlcoin in javascript to experiment with. It supports multisig, OP_HODL, RBF and many more. Groestlcoin believes strongly in privacy, the live version does not collect and store IP or transaction data.
Top 5 Next Best and Promising Cryptocurrency to Invest in 2018
Top 5 Next Best and Promising Cryptocurrency to Invest in 2018 BY https://managingyourfinance.com/top-5-best-and-promising-cryptocurrency-to-invest-in-2018 2017 has been a good year for the cryptocurrency space. Although the technology is relatively new, cryptocurrency is already making waves in multiple industries. The increased demand for cryptocurrency surged its prices significantly and many have made good profits from investing in cryptocurrency. Wondering what’s the next cryptocurrency to invest in 2018 besides Bitcoin? Here, MYF team has shortlisted the top 5 best and promising cryptocurrency to invest in 2018. Before you dive into investing cryptocurrency, you need to understand what it is in the first place. You could read more about cryptocurrency on What Is Cryptocurrency for Dummies | How Cryptocurrency Works? Top 5 Best and Promising Cryptocurrency to Invest in 2018 Disclaimer: This article should not be taken and viewed as investment advice, but only information and opinions. This article is for information and illustrative purposes only. This article was published on 4th December 2017 Top 5 Best and Promising Cryptocurrency to Invest in 2018
1 OMG
According to World Economic Forum, the number of people worldwide that do not have access to bank accounts amounts to over two (2) billion. This number represents around 35%% of our rapidly increasing population. What are the drawbacks of not having a bank account and what OmiseGo is trying to solve? No international payments; Have to carry a large amount of cash on you; If you are robbed, everything can be stolen (financially); Ease of transactions is reduced; and Narrow investment avenues OmiseGo can see this problem, especially in the economically developing countries and they aim to use blockchain technology to solve this problem. The payment processing industry is huge, with payment processors moving over $3.6 trillion per year. The largest processors are companies like VISA, Mastercard, Alipay and Wechat who each process billions each day. The problem with current payment companies is they operate in a centralized database model, they don’t communicate with each other. A company owns a private database, which is a library of data, stocked on a computer or on many computers called servers. There are three problems with the traditional centralized database model:- Security; Privacy; and Trust. The idea behind OmiseGo is to solve the above-mentioned problems. The statistics have shown the fact that there are hundreds of million people in Asia, and 2 billion people worldwide, are unbanked. OmiseGO wants to provide unbanked people with an easy, open solution allowing them to own, send, receive money on a dematerialized form, whatever currency or asset they want to send, and at a minimal cost. OmiseGO wants to provide users and merchants with a universal, decentralized solution, making it easy and cost less to send money from any network to any network, agnostically among currencies or asset types, and countries and jurisdictions. What is hindering OmiseGo? While the blockchain has many very positive aspects compared to the traditional centralized database model, it still has a scalability problem that needs to be solved. OmiseGo already aiming to be compliant with the Plasma scaling proposals. Buterin has a close relationship with the development of OMG, so it would seem to be a legitimate expectation that this project will indeed deliver the goods. Plasma is a solution co-developed by Joseph Poon and Vitalik Buterin, both key advisors of the OmiseGO project, that allows an extreme scalability, potentially billions of state updates per second. Who’s Behind OmiseGo? OmiseGo stands out because it is being developed by a well-established company, Omise that was founded in 2013 and is a venture-backed payments company operating in Thailand, Japan, Singapore, and Indonesia. It provides an online payment solution already used by thousands of customers. The OmiseGo team consists of Omise core team and well-known blockchain developers. The advisors are the strongest part of OmiseGo project because they almost all are from Ethereum foundation. Other than the lead team working on OmiseGo, the following are all officially advising the project: Vitalik Buterin (ETH lead ) , Dr. Gavin Wood (ETH and Parity lead) , Vlad Zamfir (CaspeETH lead), Joseph Poon (Lightning Net lead) and Roger Ver of The Internet of Money as well as many others, including a professor of Quantitative Finance. I am not aware of any other BC project that has such a list of advisors of this caliber. Some of the key investors in Omise include SBI Investment, SMBC, Ascend Capital, SMDV, Golden Gate Ventures, and East Ventures. Why Invest in OmiseGo? OmiseGo has released a roadmap for 2017 / 2018 year that shows various features and enhancements that will be to OMG users. In Q4 2017, first wallet SDK prototype will be released for workshop testing and development. This is followed by the release of wallet SDK public release in Q1 2018. After that, public blockchain will be released to the OMG users which will make staking possible. Then in Q3 2018, cash in/out touchpoint interface with payment gateway will be released. Plasma development and introduction are expected to be done in Q3 2018 as well. Hence, 2018 will be the year of OmiseGo. Definitely, OmiseGo is the next cryptocurrency to invest in 2018. Top 5 Best and Promising Cryptocurrency to Invest in 2018
2 LTC
Litecoin is one of the best cryptocurrencies alternatives to Bitcoins that was designed to manage some of the issues that could be holding Bitcoin back. It is also one of the first altcoins in existence after Bitcoin. In fact, Litecoin was actually one of the first forks of Bitcoin. Unlike Segwit2x, it was not a hostile or contentious fork that sought to replace Bitcoin. It was introduced 2011 (BTC in 2009) and it is almost identical to Bitcoin. So any trust and adoption rate of Bitcoin should bleed over to Litecoin. Though it isn’t quite as innovative as Ethereum, it still has potential. Litecoin’s value is derived entirely from user adoption, and there’s also a difference in leadership for the companies involved too. Litecoin was created by an ex-Google employee called Charlie Lee, who’s entirely transparent on social media about what he’s doing with the currency. Charlie is still leading its development and very active in the cryptocurrency community. Litecoin is very similar to Bitcoin, but through tweaking to the settings, it is technically a superior algorithm. Although both Litecoin and Bitcoin are quite similar, there are some differences that differentiate both of them (see infographic) Top 5 Best and Promising Cryptocurrency to Invest in 2018 Why Are The Key Advantages of Litecoin Over Bitcoin? Faster transaction times. Litecoin can produce blocks for its blockchain much faster than Bitcoin. In fact, it only takes Litecoin 2.5 minutes to complete one block (or transaction). It takes Bitcoin 10 minutes; Less expensive transactions. First to successfully implement Lightning network for instant, zero-fee transactions. Litecoin also has a far simpler algorithm. It doesn’t take as much energy or time to mine Litecoin; First to complete a cross-chain atomic swap (with Decred). In the process of adding confidential transactions; and Faster to adopt new technology, without community infighting over upgrades. Bitcoin’s community can hardly agree on anything, a fact that we’ve been keenly observing with the chaos surrounding the previously proposed “fork.” Why Invest in Litecoin? Litecoin’s scrypt hashing algorithm makes it easier for miners to access the system.This could cause a couple of things. First, it could encourage more novice miners to participate in the Litecoin system. This will help with widespread Litecoin usage since many users will be miners that never got a chance to mine Bitcoin. Charlie Lee has ambitious plans for Litecoin. The arrangements have already been made for the Lightning Network to be introduced soon to reduce the transaction speed even further. Litecoin developers are also scheduled to add the Lightning Network to the Litecoin platform which is expected to improve the scalability of transactions and to investigate the feasibility of anonymous smart contracts. If Litecoin successfully goes ahead with all the planned updates, then the market may respond to it positively.
3 ETH
Ethereum is another of the most popular solutions for cryptocurrency investors today and it will continue in 2018. Designed by a programmer called Vitalik Buterin, Ethereum works in an entirely different way to Bitcoin. Though it can do many of the same things that Bitcoin can do, its primary purpose is to act as a platform for building decentralized applications. The biggest difference between Bitcoin and Ethereum is the use of blockchains. While Bitcoin’s blockchain records contracts, showing how digital funds have moved from one place to another, Etherum has expanded this concept. The Ethereum blockchain uses a far more complex scripting language, and its smart contracts can form complex applications that have a broad range of potential uses. Developers have recently started to take notice of the potential that Ethereum can offer, building projects on top of the cryptocurrency. Some individuals have even used Ethereum to raise millions of dollars through crowd sales known as ICOs, and the trend remains strong today. This makes Ethereum a powerful option for those invested in finance. However, the popularity of the currency means that the price has skyrocketed. Why Invest in Ethereum? Vitalik Buterin, Ethereum’s creator, recently released an implementation guide that reveals the network’s developers will first start with a ‘hybrid’ system that merges bitcoin-style proof-of-work mining with its much-anticipated and still-experimental proof-of-stake system called Casper, created by Buterin. With Casper, the name of the game is long-term sustainable scaling. For the Ethereum network to be able to achieve mainstream adoption, it needs to be able to handle extremely large amounts of transactions in seconds. To this end, Casper is designed to help Ethereum achieve this much-need, large-scale network scalability. A highly anticipated update to the Ethereum network could be happening before schedule according to developers. The Casper update may be rolled out as early as the next hard-fork, Constantinople instead of previous plans for it to come with Serenity, the last development phase, in 2018. There is no fixed date for Constantinople yet but it should be towards the end of this year or early 2018 according to the planned Ethereum development phase, or roadmap called Metropolis. The previous hard-fork, Byzantium, was the fifth for Ethereum which went through without a hitch on October 16. Ethereum would survive a bear market like Bitcoin saw in 2014-2016 because of its Community. Ethereum has the second largest one just behind Bitcoin and people using the platform are not all speculator. They are developers, entrepreneurs, creators and they would keep on using it no matter what the price of an Ether is. There are two other fundamental issues beyond scalability that Casper will be focused on tackling: Censorship: currently, Bitcoin miners enjoy a zero-sum game dynamic—if a miner’s block is censored/gets lost, then every single one of their competitor miners benefit accordingly. Ethereum’s PoS will shift the network to a “coordination game” dynamic, wherein everyone benefits more if all miners’ blocks get included on the chain. Costs: through Ethereum’s current PoW protocol, satisfactory security can only be maintained through high operating costs. Casper will ease this dynamic, by making it so honest validators can cheaply validate while attackers’ costs are conversely extremely expensive. The Casper update will be a blockbuster update that will fundamentally change the way the Ethereum network functions, of course, greatly for the better, the network’s developers hope.
4 IOTA (or MIOTA)
Internet of Things (IoT) holds one of the biggest potentials for human life change. It might become the fastest growing market in next couple years but the more important thing is that the development in related areas is interconnecting. Using smartwatch and collect data from our morning run is what we experience today, but in couple years there will be interconnected every single device we use and all machines will communicate to each other. Since we imagine such a world with billions of devices, machines, and humans that are communicating with each other, we are facing a huge problem with actual infrastructure and hardware/software standards. In other words, scaling will cause problems. IOTA is a new cryptocurrency that focused on Machine-2-Machine (M2M) transactions. The main purpose of IOTA is to serve the machine economy by enabling feeless M2M (Machine-to-Machine) payments. IOTA is a new currency that enables a machine-to-machine economy that powers the Internet of Things (IoT) infrastructure. It’s radically different from other cryptos because it doesn’t even use blockchain for its transactions. Instead, it uses a completely new concept called the tangle. Tangle is an acyclic directed graph. It looks like a web, which is unlike the blockchain. Each transaction is confirmed by only two other nodes. So, IOTA allows for Unlimited scalability. The more people adopt IOTA, the faster its transactions work. No transaction fees. True microtransactions are possible (because of no transaction fees). Top 5 Best and Promising Cryptocurrency to Invest in 2018 Why Invest in IOTA (MIOTA)? We personally love the concept and we think it would take off heavily post 2018 and 2019 as more IoT and artificially intelligent (AI) devices become prevalent. Bitcoin, having been created in 2009 and distributed to hundreds of thousands of computers around the world, is starting to become well understood. There are certainly many areas we need to explore, but certain things like blockchain security have been tested globally and have yet to file. In addition, Bitcoin is being tested in many other ways, like in scalability and performance in different environments. This has given people a better understanding of the technology and more confidence in what it can or can’t do. Tangle, on the other hand, has only been in existence since late 2016 in mainnet and is not as widely adopted as blockchain. There’s a lot left to be proven about the technology and it just needs the time to prove itself. Until then, we shouldn’t just ‘assume’ the tech works as expected, but watch it carefully and understand what it excels at and where it fails. Afterall, if you know its potential, this technology naturally succeeds the blockchain technology as its next evolutionary step and comes out with features required for micropayments conducted on a global scale. The team behind IOTA has been growing as of late and counts with many experienced individuals. If everything goes well, and if the team is able to accomplish their plans, then the sky is the limit for IOTA. We could be on a brink of seeing a superior technology to the blockchain. Top 5 Best and Promising Cryptocurrency to Invest in 2018
5 Raiden Network
Like every other blockchain, Ethereum intends to support as many users as it can. At present Ethereum can support only 13 transactions per second and that is relatively lower than Visa and Mastercard. Both Visa and Mastercard can process 4,000 transactions per second. In order to get Ethereum on a mass adoption, Raiden proposes to provide an easy to use conduit for off-chain (i.e. not on the Ethereum blockchain) payments without the need of trust among the involved parties. This is done by broadcasting transactions on the blockchain only during settlements, and not at each individual transaction between the two parties. It is similar to the Off-chain Segregated Witness Lightning Network for bitcoin. Inspired by bitcoin’s Lightning Network, the technology would shift the majority of transactions off of the ethereum blockchain to create an alternate network of peer-to-peer payment channels. Raiden network is an open source project, developed primarily by a company called Brainbot Technologies. From the GitHub repository, the project has been under development since September 2015, or not long after the Ethereum blockchain was live. The Raiden Network is currently under development and will drastically improve the speed of Ethereum Transactions. The Raiden Network can be applied across a wide range of areas, including content distribution, IoT sector, frictionless token systems, and decentralized exchanges. Additionally, it can be used to access and monetize APIs what is at the core of the machine-to-machine market. In September 2017, the testnet for the Raiden Network was a major milestone for the project, one that will lead to the next phase of development before the code is ready to launch on the live Ethereum network. What are the advantages of Raiden Network? Allows Micro-payments thanks to lower fees (7 times lower than current Blockchain transaction fees); Fast and scalable therefore able to handle the high volume from the micro-transactions; Works with variable tokens as long as they follow Ethereum’s Standard Token API; and Confidential because the single transfers are recorded in a smart contract stored off the public ledger (Off-chain). Why Invest in Raiden Network (RDN)? Raiden currently consists of three independent projects: µRaiden, Raiden Network, and Raidos. There is a working implementation of µRaiden, which will be deployed on the Ethereum main net shortly. A developer preview will be released soon and allow Dapp developers to get a first impression of the API and the properties of the system, also enable them to build prototypes that interact with the Raiden Ropsten-based test network. In its current state, the technology is not ready for production use. Significant tooling and even changes to the core protocol still need to be developed. Raidos is currently only in its planning phase and development has not been kicked off yet. Mainstream applications for the Raiden network are not hard to find. The Lightning network is not expected to go live anytime soon, whereas Raiden will become a part of the Ethereum ecosystem maybe early 2018. Many Ethereum users will be willing to pay a small fee to access the Raiden Network. It is one of the few blockchain based projects which will have hundreds of thousands of users as soon as it is launched.
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