The first iteration of the block reward scheme was announced in the previous weekly update. An immediate concern raised from the community was that the emission was too aggressive in the initial year and rewards dropped off fast beyond the 5 year mark. Taking Bitcoin’s emission as an example, the emission curve has been updated to target 2% emission after 10 years. !(https://miro.medium.com/max/2384/1*gqBLvJOl2G4n3IHW1rViKg.png) The Block Reward equation is given by the following recurrence equation: g(n+2) = ((R - (g(n+1) + g(n))) / x) / y Which evaluates to: !(https://miro.medium.com/max/1624/1*ttpsRd7HUs2-7hvDGO6elg.png) where: R = Reserve, x = 6 (Arbitrary Emission Factor) y = (seconds per day / seconds per block) / days per year y = (86400 / 5) * 365.2425 The final curve thus has a Day 0 emission of 25%, Year 1 emission of 20% and Year 10 emission of 2%.
The original plan for BEPSwap (prior to the Yggdrasil liquidity breakthrough) was to have it as a separate mainnet before launching the real THORChain in 2020 with cross-chain support. Now THORChain has in-built cross-chain support and a clear roadmap to 99 nodes. This means the mainnet launch will have public, community-run nodes at the start. The community has been fielding many questions about how to run a node, and the mechanics in doing so. Since the THORChain team will not be running any nodes, it is necessary to have a full-rehearsal with the community at launch. As such, the plan is for a public ChaosNet on 03 January 2020. ChaosNet will have the following key differences: * Minimum bond of 100k RUNE. * Maximum of 12 Nodes. * Churn cycle of 1 day. * Maximum stake amount of 600k RUNE total. * 2.7m RUNE Protocol Reserve to emit Bond and Stake rewards. * Hard-coded Ragnorök at 6 weeks. Any member who wishes to join ChaosNet to get accustomed to running a node can do so, and will receive Block Rewards roughly equivalent to mainnet (25%). They will be setting up nodes, churning in, servicing the network and earning rewards. The system will hold up to 600k Rune, at which point it will refund any additional staked amount. The community can stake small amounts of real assets, prepare arbitrage bots, set up telegram alert bots and more. In short, it is a public rehearsal with the entire community across all facets (nodes, stakers, traders) so that everyone will have access to the same information and not unfairly benefit when the real mainnet launches. Additionally, the system will be hard-coded to perform a Ragnorök 6 weeks later, which will refund all the remaining reserve as well as bonded and staked assets. This will go a long way in re-assuring the community that the system can tolerate all levels of risk, including black-swan events, and that funds are safe at all times.
A new feature will be launched that will allow users to use internal arbitrage. This is an asymmetrical withdrawal to Rune, then immediately followed by a asymmetrical stake of Rune in another pool. A trader may want to do this instead of doing transactional arbitrage in order to exploit price differences between two pools the fastest way possible. Instead of an outgoing transaction being processed, followed by another incoming transaction, Rune balances and stakeUnits are swapped internally, being completed inside of a few seconds.
Fee-based Transaction Prioritisation
Currently there is no prioritisation to the order of transactions, all transactions are simply processed in order of time received. In moments of high demand of network resources (such as when there are large arbitrage opportunities and users are racing to exploit them), transactions will queue in the mempool. If the system cannot respond fast enough, then the reason for high demand will persist (the large arbitrage opportunity). The solution is to remove the reason for high demand in the first place, which is the large arbitrage opportunity, at the same time as collecting the maximum revenue for the system. As such, in the checkTx method (which can triage the mempool), transactions will be sorted and ordered in the value of the fee of the swap transaction. Assuming rational actors, the following transactions will then be prioritised over all others: * A transaction from an impatient swapper who is willing to pay a large fee. * A transaction from a trader who is able to arbitrage out a price discrepancy (and still make a gain). This then means the system can collect as much income as possible (good for the stakers) at the same time as prioritising transactions that can arbitrage out large price discrepancies quickly. This then means swaps from transient swappers will experience a market price that accurately matches the reference price at all times.
The team are working on 4 parallel streams of effort. Cross-chain infrastructure has now been merged into a single repo called “THORNode”. * THORChain * Midgard Public API * Threshold Signature Scheme implementation * Front-end Integration for BEPSwap
What is Ren? Ren is an open protocol that enables the permissionless transfer of value between any blockchain. Ren's core product, RenVM, brings interoperability to decentralized finance (DeFi). What makes RenVM unique is that it does everything in secret using zero-knowledge proofs over an sMPC based protocol that the team has pioneered. The state, inputs, and outputs of all programs that RenVM runs are kept hidden from everyone, including the Darknodes that power it. This allows RenVM to securely manage (ECDSA) private keys on different blockchains, making it possible to shift tokens between these blockchains in a trustless, permissionless, and decentralized way (i.e interoperability). Technically speaking RenVM is a byzantine fault-tolerant protocol (with 1/3 malicious nodes) that does ECDSA threshold key generation and signing via sMPC. RenVM is not a product or an application in and of itself but is a network (and an accompanying SDK) that allows developers to bring interoperability to their DeFi applications. Ren was founded in 2017 and is headquartered in Singapore.
Darknodes Darknodes are the physical machines that power RenVM, where every machine contributes CPU time for compute power and its disk space for storage. These are that machines that form the P2P decentralized network (not a blockchain) that cooperate to run secret multiparty computations. It is important to note that programs executing on RenVM are hidden from the Darknodes that run the virtual machine. This guide will walk you through the installation of your Darknode. Before you begin, make sure that you have a MacOS, Windows, or Ubuntu machine available (i.e. home computer) and 100,000 REN. Guides: How to set up a Darknode The Team
What happened to the Republic Protocol? Republic Protocol was rebranded to Ren to reflect the project’s evolution towards interoperability (i.e. RenVM). Old posts and discussions can be found on the Republic Protocol Reddit
We truly appreciate our community, and this cannot be said enough. The level of technical understanding and subsequent assistance provided to our newcomers, speaks to the expertise and positivity in the community, and we couldn’t be more thankful. We look forward to collaborating with everyone as we make our next steps forward towards building a cross-chain DeFi ecosystem. If you are interested in working directly with the Ren Team we are always looking for developers so please do reach out via the below email. Need help or want to partner? [[email protected]](mailto:[email protected])
What is CtrXL? A spreadsheet to track the value of your cryptocurrencies on exchanges, cold storage and/or other locations. CtrXL can securely pull your Balances from your exchange using Read-Only APIs or by Manual entry in the sheet. Values are calculated to both BTC and Fiat and can be automatically saved, based on a time interval. The sheet comes with eye candy Dashboard elements that can be easily adjusted to your own preference. Download (copy) the sheet Documentation Use Cases: You have currencies on multiple Exchanges or multiple accounts on one exchange You manage cryptocurrency for others and want a single pane of glass You have cryptos in 'other' locations; like cold storage, offline / hardware wallets or elsewhere (example: Ledger Nano) You are looking for a sheet that is simple to understand and can be extended and/or customized Functionality:
Live Balance Collectors using Read OnlyAPI keys for the following exchanges:
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Binance announced the implementation of an open-source Threshold Signature Scheme (TSS) library three months ago, which is considered to be a major step taken by Binance that will further contribute to the development of open-source blockchain. The library is reconcilable with ECDSA-based blockchains, which comprises of Binance Chain, Bitcoin, and Ethereum networks, which is already used to ... As Bitcoin’s price relies on people’s trust in the system, such an attack could have a devastating effect on Bitcoin’s price and trust in the whole cryptocurrency market. Quantum-resistant blockchains . If you are worried that blockchains will soon be broken, don’t. Some experts within the field of distributed ledgers and blockchains have noticed the potential threat of quantum ... Bitcoin Official promises to be a fair and objective portal, where readers can find the best information, recent crypto currency news. Whether the news articles are curated, syndicated or published by our very own authors, you can be sure to find everything you are looking for at BitcoinOfficial.com Crypto exchange Binance has taken some major steps in setting new standards for cryptocurrency services. Adding support for the Ukrainian national currency, signing a memorandum of understanding (MOU) with the Ukrainian government, and implementing a cryptographic protocol for distributed key generation and signing – these are only a few achievements of the company led by Changpeng Zhao (CZ). Binance buys LAND from The Sandbox. Prev Next. Revolut reaches half a million customers in Italy. N26: Italians saved 1700€ during summer 2020 . Tesla and Apple: stock split could drive prices up 33% per year. Centi: in Zurich payments are made in Bitcoin SV. Prev Next. The price of Ethereum gas remains high. Can Financial Services ever be fair? Listen to JP Thieriot. Alexander Filatov, TON ... Bitcoin Cash (BCH), seinerseits selbst eine Fork von Bitcoin, vollzieht am 15. Mai eine erneute Hard Fork. Im Zentrum des Updates steht die Einführung von Schnorr-Signaturen, einem alternativen Verschlüsselungsverfahren für Transaktionen. Hier kommt bei Bitcoin Cash – wie auch beim großen Bruder Bitcoin – bislang noch die Elliptische-Kurven-Kryptographie zum Einsatz (ECDSA –Elliptic ... Zhao Dong Bitcoin Price Prediction. Zhao Dong, one of the biggest Bitcoin OTC traders in China and an influencer recently predicted that Bitcoin might reach $50,000 by 2021. He reiterated that now is the best time to invest in BTC and said that you might get a yield of 100 to 200% over 3 years if you invest now. Anthony Pompliano Bitcoin Price Prediction. In a recent tweet, Anthony Pompliano ... — CZ Binance (@cz_binance) November 6, 2019 The Threshold Signature Scheme (TSS) library for Elliptic Curve Digital Signature Algorithm (ECDSA), which was just released today, is openly-sourced. Basically, this cryptographic protocol is used for distributed key generation and signing, providing a way to avoid single points of failure in private keys for wallet providers and custodians. Bitcoin Price; Ethereum Price; Litecoin Price; Binance Coin Price ; Monero Price; MimbleWimbleCoin Price; How to; Trade Boasting a community of over eight million people, eToro is one of the leading global trading and investment platform – and it specialises in cryptocurrencies. Although there are more than 1,200 assets to trade on eToro, which was founded in 2007, it is in the crypto space ... Bitcoin’s price peaked at roughly $20,000, and mainstream media coverage was rampant on price speculation. Bitcoin Cash Hard-Fork Bitcoin’s first major polarizing event also took place in August 2017, when Bitcoin Cash hard-forked the protocol to follow a different vision of Bitcoin than the original chain, predicated on increasing the block size as a mechanism for on-chain scaling.
Community Shocked That Binance Suggest Bitcoin Reorg After Hack
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