|submitted by NielDLR to Bitcoin [link] [comments]|
|submitted by SubCreative to cannacoin [link] [comments]|
submitted by sidhujag to ethereum [link] [comments]
We are excited to participate and present Syscoin Platform's ideal characteristics and capabilities towards a well-rounded Reddit Community Points solution!
Our scaling solution for Reddit Community Points involves 2-way peg interoperability with Ethereum. This will provide a scalable token layer built specifically for speed and high volumes of simple value transfers at a very low cost, while providing sovereign ownership and onchain finality.
Token transfers scale by taking advantage of a globally sorting mempool that provides for probabilistically secure assumptions of “as good as settled”. The opportunity here for token receivers is to have an app-layer interactivity on the speed/security tradeoff (99.9999% assurance within 10 seconds). We call this Z-DAG, and it achieves high-throughput across a mesh network topology presently composed of about 2,000 geographically dispersed full-nodes. Similar to Bitcoin, however, these nodes are incentivized to run full-nodes for the benefit of network security, through a bonded validator scheme. These nodes do not participate in the consensus of transactions or block validation any differently than other nodes and therefore do not degrade the security model of Bitcoin’s validate first then trust, across every node. Each token transfer settles on-chain. The protocol follows Bitcoin core policies so it has adequate code coverage and protocol hardening to be qualified as production quality software. It shares a significant portion of Bitcoin’s own hashpower through merged-mining.
This platform as a whole can serve token microtransactions, larger settlements, and store-of-value in an ideal fashion, providing probabilistic scalability whilst remaining decentralized according to Bitcoin design. It is accessible to ERC-20 via a permissionless and trust-minimized bridge that works in both directions. The bridge and token platform are currently available on the Syscoin mainnet. This has been gaining recent attention for use by loyalty point programs and stablecoins such as Binance USD.
SolutionsSyscoin Foundation identified a few paths for Reddit to leverage this infrastructure, each with trade-offs. The first provides the most cost-savings and scaling benefits at some sacrifice of token autonomy. The second offers more preservation of autonomy with a more narrow scope of cost savings than the first option, but savings even so. The third introduces more complexity than the previous two yet provides the most overall benefits. We consider the third as most viable as it enables Reddit to benefit even while retaining existing smart contract functionality. We will focus on the third option, and include the first two for good measure.
Syscoin + Matic IntegrationMatic and Blockchain Foundry Inc, the public company formed by the founders of Syscoin, recently entered a partnership for joint research and business development initiatives. This is ideal for all parties as Matic Network and Syscoin Platform provide complementary utility. Syscoin offers characteristics for sovereign ownership and security based on Bitcoin’s time-tested model, and shares a significant portion of Bitcoin’s own hashpower. Syscoin’s focus is on secure and scalable simple value transfers, trust-minimized interoperability, and opt-in regulatory compliance for tokenized assets rather than scalability for smart contract execution. On the other hand, Matic Network can provide scalable EVM for smart contract execution. Reddit Community Points can benefit from both.
Syscoin + Matic integration is actively being explored by both teams, as it is helpful to Reddit, Ethereum, and the industry as a whole.
Proving Performance & Cost SavingsOur POC focuses on 100,000 on-chain settlements of token transfers on the Syscoin Core blockchain. Transfers and burns perform equally with Syscoin. For POCs related to smart contracts (subscriptions, etc), refer to the Matic Network proposal.
On-chain settlement of 100k transactions was accomplished within roughly twelve minutes, well-exceeding Reddit’s expectation of five days. This was performed using six full-nodes operating on compute-optimized AWS c4.2xlarge instances which were geographically distributed (Virginia, London, Sao Paulo Brazil, Oregon, Singapore, Germany). A higher quantity of settlements could be reached within the same time-frame with more broadcasting nodes involved, or using hosts with more resources for faster execution of the process.
Addresses used: 100,014
The demonstration was executed using this tool. The results can be seen in the following blocks:
It is important to note that this POC is not focused on Z-DAG. The performance of Z-DAG has been benchmarked within realistic network conditions: Whiteblock’s audit is publicly available. Network latency tests showed an average TPS around 15k with burst capacity up to 61k. Zero-latency control group exhibited ~150k TPS. Mainnet testing of the Z-DAG network is achievable and will require further coordination and additional resources.
Even further optimizations are expected in the upcoming Syscoin Core release which will implement a UTXO model for our token layer bringing further efficiency as well as open the door to additional scaling technology currently under research by our team and academic partners. At present our token layer is account-based, similar to Ethereum. Opt-in compliance structures will also be introduced soon which will offer some positive performance characteristics as well. It makes the most sense to implement these optimizations before performing another benchmark for Z-DAG, especially on the mainnet considering the resources required to stress-test this network.
Cost SavingsTotal cost for these 100k transactions: $0.63 USD
See the live fee comparison for savings estimation between transactions on Ethereum and Syscoin. Below is a snapshot at time of writing:
ETH price: $318.55 ETH gas price: 55.00 Gwei ($0.37)
Syscoin price: $0.11
Snapshot of live fee comparison chart
Z-DAG provides a more efficient fee-market. A typical Z-DAG transaction costs 0.0000582 SYS. Tokens can be safely redeemed/re-spent within seconds or allowed to settle on-chain beforehand. The costs should remain about this low for microtransactions.
Syscoin will achieve further reduction of fees and even greater scalability with offchain payment channels for assets, with Z-DAG as a resilience fallback. New payment channel technology is one of the topics under research by the Syscoin development team with our academic partners at TU Delft. In line with the calculation in the Lightning Networks white paper, payment channels using assets with Syscoin Core will bring theoretical capacity for each person on Earth (7.8 billion) to have five on-chain transactions per year, per person, without requiring anyone to enter a fee market (aka “wait for a block”). This exceeds the minimum LN expectation of two transactions per person, per year; one to exist on-chain and one to settle aggregated value.
Tools, Infrastructure & Documentation
Syscoin BridgeMainnet Demonstration of Syscoin Bridge with the Basic Attention Token ERC-20
A two-way blockchain interoperability system that uses Simple Payment Verification to enable:
APITools to simplify using Syscoin Bridge as a service with dapps and wallets will be released some time after implementation of Syscoin Core 4.2. These will be based upon the same processes which are automated in the current live Sysethereum Dapp that is functioning with the Syscoin mainnet.
DocumentationSyscoin Bridge & How it Works (description and process flow)
Superblock Validation Battles
HOWTO: Provision the Bridge for your ERC-20
HOWTO: Setup an Agent
Developer & User Diligence
Trade-offThe Syscoin Ethereum Bridge is secured by Agent nodes participating in a decentralized and incentivized model that involves roles of Superblock challengers and submitters. This model is open to participation. The benefits here are trust-minimization, permissionless-ness, and potentially less legal/regulatory red-tape than interop mechanisms that involve liquidity providers and/or trading mechanisms.
The trade-off is that due to the decentralized nature there are cross-chain settlement times of one hour to cross from Ethereum to Syscoin, and three hours to cross from Syscoin to Ethereum. We are exploring ways to reduce this time while maintaining decentralization via zkp. Even so, an “instant bridge” experience could be provided by means of a third-party liquidity mechanism. That option exists but is not required for bridge functionality today. Typically bridges are used with batch value, not with high frequencies of smaller values, and generally it is advantageous to keep some value on both chains for maximum availability of utility. Even so, the cross-chain settlement time is good to mention here.
CostEthereum -> Syscoin: Matic or Ethereum transaction fee for bridge contract interaction, negligible Syscoin transaction fee for minting tokens
Syscoin -> Ethereum: Negligible Syscoin transaction fee for burning tokens, 0.01% transaction fee paid to Bridge Agent in the form of the ERC-20, Matic or Ethereum transaction fee for contract interaction.
Z-DAGZero-Confirmation Directed Acyclic Graph is an instant settlement protocol that is used as a complementary system to proof-of-work (PoW) in the confirmation of Syscoin service transactions. In essence, a Z-DAG is simply a directed acyclic graph (DAG) where validating nodes verify the sequential ordering of transactions that are received in their memory pools. Z-DAG is used by the validating nodes across the network to ensure that there is absolute consensus on the ordering of transactions and no balances are overflowed (no double-spends).
APISyscoin-js provides tooling for all Syscoin Core RPCs including interactivity with Z-DAG.
DocumentationZ-DAG White Paper
Useful read: An in-depth Z-DAG discussion between Syscoin Core developer Jag Sidhu and Brave Software Research Engineer Gonçalo Pestana
Trade-offZ-DAG enables the ideal speed/security tradeoff to be determined per use-case in the application layer. It minimizes the sacrifice required to accept and redeem fast transfers/payments while providing more-than-ample security for microtransactions. This is supported on the premise that a Reddit user receiving points does need security yet generally doesn’t want nor need to wait for the same level of security as a nation-state settling an international trade debt. In any case, each Z-DAG transaction settles onchain at a block target of 60 seconds.
Syscoin SpecsSyscoin 3.0 White Paper
(4.0 white paper is pending. For improved scalability and less blockchain bloat, some features of v3 no longer exist in current v4: Specifically Marketplace Offers, Aliases, Escrow, Certificates, Pruning, Encrypted Messaging)
WalletsWeb3 and mobile wallets are under active development by Blockchain Foundry Inc as WebAssembly applications and expected for release not long after mainnet deployment of Syscoin Core 4.2. Both of these will be multi-coin wallets that support Syscoin, SPTs, Ethereum, and ERC-20 tokens. The Web3 wallet will provide functionality similar to Metamask.
Syscoin Platform and tokens are already integrated with Blockbook. Custom hardware wallet support currently exists via ElectrumSys. First-class HW wallet integration through apps such as Ledger Live will exist after 4.2.
Current supported wallets
Syscoin Spark Desktop
ExplorersMainnet: https://sys1.bcfn.ca (Blockbook)
Thank you for close consideration of our proposal. We look forward to feedback, and to working with the Reddit community to implement an ideal solution using Syscoin Platform!
submitted by Blockchain_org to BlockchainStartups [link] [comments]
Blockchain has emerged as a popular technology, and if you are planning to make a career in this field, then there are various certification programs. When we talk about Blockchain, then it becomes important to mention about Ethereum. It is a cryptocurrency and an open-source platform as well. There has been some great development in this field, and those who are planning to learn about Ethereum must go for a certified Ethereum course.
Ethereum emerged after Bitcoin and has now become a popular Blockchain platform. It is a cryptocurrency as well. It is an open-source software platform. Ethereum offers a flexible platform to the developer so that they can develop decentralized apps with ease.
Although scalability is a bit of an issue with Ethereum, in the current scenario, it is one of the best platforms for decentralized application development.
Looking at the broader spectrum and use of Blockchain, it has become a great career opportunity for many. Hence, option for certified Blockchain Developer is the right way to give your career the right boost.
What is API?
API is a set of the protocol which is used of building and integrating the applications across different platforms. APIs eventually simplifies app development and enables seamless interaction of your products and services with the user.
Web3.js- This is a collection of libraries which empowers you to connect with remote Ethereum node. It is achieved by using HTTP or IPC connection. This is used for the following :
The third entrant in our list is light.js. It provides high-level tools which are used for developing efficient Dapps on the light client. This is also a great alternative to web3.js. It works with remote nodes and makes it easy for a developer to build decentralized applications with ease.
Here it becomes important to mention that light.js chooses the best pattern which works with light clients, it listens to headers and makes API calls on a new header an ensures that network calls are not extreme.
The end objective is to put up a high-level library such that the decentralized app developers can make use of this and create apps.
Besides, these there are other APIs like Web3-wrapper can also be used by blockchain developer. These APIs aim to simplify the task of the developer so that they can create apps which work seamlessly.
If you are working on a decentralized application developed, then you would come across either of these apps or will be using one of them. In case you are new to this field and are looking for gaining comprehensive knowledge in this field, then you must go for a Certified Ethereum Expert online training program by Blockchain Council. This exhaustive program will help you learn about Ethereum, APIs and allied concepts and at the same time, learn how to use them. In case you want to learn how to use smart contracts on Ethereum based applications, then you must opt for Certified Solidity Developer coursesby Blockchain Council. Connect with us today to explore more about Ethereum.
|submitted by bitjson to Bitcoin [link] [comments]|
Hey guys, another week is here and it's been a busy one. This week is all about core updates to the Carver Framework as we're getting ready for a release.submitted by hodlforjesus-bwk to BulwarkCoin [link] [comments]
Check out all the new features that were added to Carver Framework this week:
Removal & Rewrite of node-bitcoin-rpc
Less node packages is always good. We've taken some time to rewite node-bitcoin-rpc package to instead use async.queue and axios libraries that were already included in the project.
This should give us a slight performance increase on RPC communications with coins (such as Bulwark)
Node.js debugging support
Carver Framework now support context debugging across any Docker instance. With debugging support you can now use Google Chrome to debug Carver Framework and analyse memory usage.
With event batching we can now have a higher throughput of events from event stores while reducing number of RabbitMQ messages at the same time. Events are batched and sent in a smart way to ensure recent events are sent out as soon as possible.
As we're expecting to be streaming millions of events resource usage is crucial. We've added a smart way to reduce memory and RabbitMQ queue sizes. With the new event checkpoint system the queues sizes are kept to a minimum ensuring work gets done before sending more events.
These checkpoints work in tandem with the batching system to deliver amazing performance improvements on coins with larger block count.
With Carver Framework analytics are done in realtime across all users. The data is also accessible in realtime and to top it all off our analytics bypasses all forms of Adblock giving you awesome analytics that can't be blocked through various browser extensions.
Every user action is now analyzed and tracked in realtime. This will give us lots of information on how to utilize resources better in the future. For now I've used this power to show you how many page views are rendered across active users and how many active widgets are currently active.
Moving on, currently the widgets are not disposed of correctly. Now we can track how many active widgets are there and if they're getting disposed of correctly. This will move us onto rate limiting and of course ever so much closer to the release.
Oh yeah don't forget that this is a "shared" widget which is shared by multiple users and are updated in realtime. 👍
Be sure to hop onto Discord for Community discussions: discord.me/bulwarkcrypto
Yes. You pick a peer and after some setup, create a bitcoin transaction to fund the lightning channel; it’ll then take another transaction to close it and release your funds. You and your peer always hold a bitcoin transaction to get your funds whenever you want: just broadcast to the blockchain like normal. In other words, you and your peer create a shared account, and then use Lightning to securely negotiate who gets how much from that shared account, without waiting for the bitcoin blockchain.
Yes, Lightning is open source. Anyone can review the code (in the same way as the bitcoin code)
Similar to the bitcoin network, no one will ever own or control the Lightning Network. The code is open source and free for anyone to download and review. Anyone can run a node and be part of the network.
No, your bitcoin will never leave the blockchain. Instead your bitcoin will be held in a multi-signature address as long as your channel stays open. When the channel is closed; the final transaction will be added to the blockchain. “Off-chain” is not a perfect term, but it is used due to the fact that the transfer of ownership is no longer reflected on the blockchain until the channel is closed.
Example: A and B have a channel. 1 BTC each. A sends B 0.5 BTC. B sends back 0.25 BTC. Balance should be A = 0.75, B = 1.25. If A gets disconnected, B can publish the first Tx where the balance was A = 0.5 and B = 1.5. If the node B does in fact attempt to cheat by publishing an old state (such as the A=0.5 and B=1.5 state), this cheat can then be detected on-chain and used to steal the cheaters funds, i.e., A can see the closing transaction, notice it's an old one and grab all funds in the channel (A=2, B=0). The time that A has in order to react to the cheating counterparty is given by the CheckLockTimeVerify (CLTV) in the cheating transaction, which is adjustable. So if A foresees that it'll be able to check in about once every 24 hours it'll require that the CLTV is at least that large, if it's once a week then that's fine too. You definitely do not need to be online and watching the chain 24/7, just make sure to check in once in a while before the CLTV expires. Alternatively you can outsource the watch duties, in order to keep the CLTV timeouts low. This can be achieved both with trusted third parties or untrusted ones (watchtowers). In the case of a unilateral close, e.g., you just go offline and never come back, the other endpoint will have to wait for that timeout to expire to get its funds back. So peers might not accept channels with extremely high CLTV timeouts. -- Source
Tiny payments are possible: since fees are proportional to the payment amount, you can pay a fraction of a cent; accounting is even done in thousandths of a satoshi. Payments are settled instantly: the money is sent in the time it takes to cross the network to your destination and back, typically a fraction of a second.
Yes, but not in theory. You could make a poorer lightning network without it, which has higher risks when establishing channels (you might have to wait a month if things go wrong!), has limited channel lifetime, longer minimum payment expiry times on each hop, is less efficient and has less robust outsourcing. The entire spec as written today assumes segregated witness, as it solves all these problems.
No, for now. For the first version of the protocol, if you wanted to send a normal bitcoin transaction using your channel, you have to close it, send the funds, then reopen the channel (3 transactions). In future versions, you and your peer would agree to spend out of your lightning channel funds just like a normal bitcoin payment, allowing you to use your lightning wallet like a normal bitcoin wallet.
Not really. Anyone can set up a node, and so it’s a race to the bottom on fees. In practice, we may see the network use a nominal fee and not change very much, which only provides an incremental incentive to route on a node you’re going to use yourself, and not enough to run one merely for fees. Having clients use criteria other than fees (e.g. randomness, diversity) in route selection will also help this.
Lightning is already being tested on the Mainnet Twitter Link but as for a specific date, Jameson Lopp says it best
Nope, because there is no custody ever involved. It's just like forwarding packets. -- Source
Furthermore, the Lightning Network scales not with the transaction throughput of the underlying blockchain, but with modern data processing and latency limits - payments can be made nearly as quickly as packets can be sent. -- Source
Each exchange will get to decide and need to implement the software into their system, but some ideas have been outlined here: Google Doc - Lightning Exchanges
Note that by virtue of the usual benefits of cost-less, instantaneous transactions, lightning will make arbitrage between exchanges much more efficient and thus lead to consistent pricing across exchange that adopt it. -- Source
According to Rusty's calculations we should be able to store 1 million nodes in about 100 MB, so that should work even for mobile phones. Beyond that we have some proposals ready to lighten the load on endpoints, but we'll cross that bridge when we get there. -- Source
No you'd remember the information from the last time you started the app and only sync the differences. This is not yet implemented, but it shouldn't be too hard to get a preliminary protocol working if that turns out to be a problem. -- Source
Lightning is based on participants in the network running lightning node software that enables them to interact with other nodes. This does not require being a full bitcoin node, but you will have to run "lnd", "eclair", or one of the other node softwares listed above.
All lightning wallets have node software integrated into them, because that is necessary to create payment channels and conduct payments on the network, but you can also intentionally run lnd or similar for public benefit - e.g. you can hold open payment channels or channels with higher volume, than you need for your own transactions. You would be compensated in modest fees by those who transact across your node with multi-hop payments. -- Source
Sure, you can help write up educational material. You can learn and read more about the tech at http://dev.lightning.community/resources. You can test the various desktop and mobile apps out there (Lightning Desktop, Zap, Eclair apps). -- Source
No -- Source
lit doesn't depend on having your own full node -- it automatically connects to full nodes on the network. -- Source
LND uses a light client mode, so it doesn't require a full node. The name of the light client it uses is called neutrino
Upon opening a channel, the two endpoints first agree on a reserve value, below which the channel balance may not drop. This is to make sure that both endpoints always have some skin in the game as rustyreddit puts it :-)
For a cheat to become worth it, the opponent has to be absolutely sure that you cannot retaliate against him during the timeout. So he has to make sure you never ever get network connectivity during that time. Having someone else also watching for channel closures and notifying you, or releasing a canned retaliation, makes this even harder for the attacker. This is because if he misjudged you being truly offline you can retaliate by grabbing all of its funds. Spotty connections, DDoS, and similar will not provide the attacker the necessary guarantees to make cheating worthwhile. Any form of uncertainty about your online status acts as a deterrent to the other endpoint. -- Source
You typically want to have more than one channel open at any given time for redundancy's sake. And we imagine open and close will probably be automated for the most part. In fact we already have a feature in LND called autopilot that can automatically open channels for a user.
Frequency will depend whether the funds are needed on-chain or more useful on LN. -- Source
You don't really set up a "node" in the sense that anyone with more than one channel can automatically be a node and route payments. Fees on LN can be set by the node, and can change dynamically on the network. -- Source
Yes but it has to be implemented in the Lightning software being used. -- Source
You won't have to do anything. With autopilot enabled, it'll automatically open and close channels based on the availability of the network. -- Source
Linux nodes can now stake superblocks using forwarded contracts, #1060 (@tomasbrod).Changed
Replace interest with constant block reward #1160 (@tomasbrod). Fork is set to trigger at block 1420000. Raise coinstake output count limit to 8 #1261 (@tomasbrod). Port of Bitcoin hash implementation #1208 (@jamescowens). Minor canges for the build documentation #1091 (@Lenni). Allow sendmany to be used without an account specified #1158 (@Foggyx420).Fixed
Fix cpids and validcpids not returning the correct data #1233 (@Foggyx420). Fix listsinceblock not showing mined blocks to change addresses, #501 (@Foggyx420). Fix crash when raining using a locked wallet #1236 (@Foggyx420). Fix invalid stake reward/fee calculation (@jamescowens). Fix divide by zero bug in getblockstats RPC #1292 (@Foggyx420). Bypass historical bad blocks on testnet #1252 (@Quezacoatl1). Fix MacOS memorybarrier warnings #1193 (@ghost).Removed
Remove neuralhash from the getpeerinfo and node stats #1123 (@Foggyx420). Remove obsolete NN code #1121 (@Foggyx420). Remove (lower) Mint Limiter #1212 (@tomasbrod).
https://preview.redd.it/22zrdwgeg3m31.jpg?width=1280&format=pjpg&auto=webp&s=1370c511afa85ec06cda6843c36aa9289456806dsubmitted by Unitimes_ to u/Unitimes_ [link] [comments]
At 10:30 on September 12, Unitimes held the 40th online AMA about blockchain technologies and applications. We were glad to have Joanes Espanol , CEO and CTO of Amberdata, to share with us on ‘’Danger in Blockchain, Data Protection is Necessary‘’ . The AMA is composed of two parts : Fixed Q&A and Free Q&A. Check out the details below!
Amberdata is a blockchain and digital asset company which combines validated blockchain and market data from the top crypto exchanges into a unified platform and API, enabling customers to operate with confidence and build real-time data-powered applications.
We provide a standardized way to access blockchain data (blocks, transactions, account information, etc) across different blockchain models like UTXO (Bitcoin, Litecoin, Dash, Zcash...) and Account Based (Ethereum...), with contextualized pricing data from the top crypto exchanges in one API call. If you want to build applications on top of different blockchains, you would have to learn the intricacies of each distributed ledgers, run multiple nodes, aggregate the data, etc - instead of spending all that time and money, you can start immediately by using the APIs that we provide.
What can you get access to? Accounts, account-balances, blocks, contracts, internal messages, logs and events, pending transactions, security audits, source code, tokens, token balances, token transfers, token supplies (circulating & total supplies), transactions as well as prices, order books, trades, tickers and best bid and offers for about 2,000 different assets.
One important thing to note is that most of the APIs return validated data that anybody can verify by themselves. Blockchain is all about trust - operating in a hostile and trustless environment, maintaining consensus while continuously under attack, etc - and we want to make sure that we maintain that level of trust, so the API returns all the information that you would need to recalculate Merkle proofs yourself, hence guaranteeing the data was not tampered with and is authentique.
The genius of Satoshi Nakamoto was to combine and improve upon existing decentralized protocols with game theory, to arrive at a consensus protocol able to circumvent the Byzatine’s General Problem. Now participants have incentives to follow the rules (they get financially rewarded for doing so by mining for example, and penalized for misbehaving), which in turn results in a stable system. This was the first time that crypto-economics were used in a working product and this became the base and norm for a lot of the new systems today.
Pricing data is needed as context to blockchain data: there are a lot of (ERC-20) tokens created on Ethereum - it is very easy to clone an existing contract, and configure it with a certain amount of initial tokens (most commonly in the millions and billions in volume). Each token has an intrinsic value, as determined by the law of supply and demand, and as traded on the exchanges. Price fluctuations have an impact on the adoption and usage, meaning on the overall transaction volume (and to a certain extent transaction throughput) on the blockchain.
Blockchain data is needed as context to market data: activity on blockchain can have an impact on market data. For example, one can look at the incoming token transfers in the Ethereum transaction pool and see if there are any impending big transfers for a specific token, which could result in a significant price move on the other end. Being able to detect that kind of movement and act upon it is the kind of signals that traders are looking for. Another example can be found with token supplies: exchanges want to be notified as soon as possible when a token circulating supply changes, as it affects their trading ability, and in the worst case scenario, they would need to halt trading if a token contract gets compromised.
In conclusion, events on the blockchain can influence price, and market events also have an impact on blockchain data: the two are intimately intertwined, and putting them both in context leads to better insights and better decision making.
Not quick: blockchain data structures were designed and optimized for achieving consensus in a hostile and trustless environment and for internal state management, not for random access and overall search. Imagine you want to list all the transactions that your wallet address has participated in? The only way to do that would be to replay all the transactions from the beginning of time (starting at the genesis block), looking at the to and from addresses and retain only the ones matching your wallet: at over 500 million of transactions as of today, it will take some unacceptable amount of time to retrieve that list for a customer facing application.
Not easy: Some very basic things that one would expect when dealing with financial assets and instruments are actually very difficult to get at, especially when related to tokens. For example, the current Ether balance of a wallet is easy to retrieve in one call to a Geth or Parity client - however, looking at time series of these balances starts to be a little hairy, as not all historical state is kept by these clients, unless you are running a full archive node. Looking at token holdings and balances gets even more complicated, as most of the token transfers are part of the transient state and not kept on chain. Moreover, token transfers and balance changes over time are triggered by different mechanisms (especially when dealing with contract to contract function calls), and detecting these changes accurately is prone to errors.
Not cheap: As mentioned above, most of the historical data and time series metrics are only available via a full archive node, which at the time of writing requires about 3TB of disk space, just to hold all the blockchain state - and remember, this state is in a compressed and not easily accessible format. To convert it to a more searchable format requires much more space. Also, running your own full archive node requires constant care, maintenance and monitoring, which has become very expensive and prohibitive to run.
· It can be used in the traditional REST way to augment your own processes or enrich your own data with hard to get pieces of information. For example, lots of our users retrieve historical information (blocks and transactions) and relay it in their applications to their own customers, while others are more interested in financial data (account & token balances) and time series for portfolio management.
· Other projects are more in need of real-time up-to-date data, for which we recommend using our websockets, so you can filter out data in real-time and match your exact needs, rather than getting the firehose of information and having to filter out and discard 99% of it.
· We have a few research projects tapping into our API as well. For example, some of our customers want access to historical market data to backtest their trading strategies and fine-tune their own algorithms.
· Our API is also fully Json RPC compliant, meaning some people use it as a drop-in replacement for their own node, or as an alternative to Infura for example. We have some customers using both Amberdata and Infura as their web3 providers, with the benefits of getting additional enriched data when connecting to our API.
· And finally, we have also built an SDK on top of the API itself, so it is easier to integrate into your own application (https://www.npmjs.com/package/web3data-js).
We also have several subscriptions to match your needs. The developer tier is free and gets you access to 90% of all the data. If you are not sure about your usage patterns yet, we recommend the on-demand plan to get started, while for heavy users the professional and enterprise plans would be more adequate - see https://amberdata.io/pricing for more information.
All and all, we try really hard to make it as easy as possible to use for you. We do the heavy lifting, so you don’t have to worry about all the minutia and you can focus on bringing value to your customers. We work very closely with our customers and continuously improve upon and add new features to our API. If something is not supported or you want something that is not in the API, chances are we already have the data, do not hesitate to ask us ;)
Even though this is a pretty severe bug (any/all Parity node(s) can be remotely shutdown with just one small call to its API), in practice the number of nodes at risk is probably small because only operators who have enabled public facing RPC calls (and possibly the ones who have enabled tracing as well) are affected - which are both disabled by default. Kudos to the Parity team for fixing and releasing a patch in less than 24 hours after the bug was reported!
A good starting point is to use our Postman collection, which is pretty complete and can give you a very good overview of all the capabilities: https://amberdata.io/docs/libraries and https://www.getpostman.com/collections/79afa5bafe91f0e676d6.
For more advanced users, the REST API is where you should start, but as I mentioned earlier, how to access the data depends on your use case: REST, websockets, Json RPC and SDK are the most commonly ways of getting to it. We have a lot of tutorials and code examples available here: https://amberdata.io/docs.
For developers interested in getting access to Amberdata’s blockchain and market data from within their own contract, they can use the Chainlink Oracle contract, which integrates directly with the API:
Free Q&A---Who are your competitors? What makes you better?
There are a few data providers out there offering similar information as Amberdata. For example, Etherscan has very complete blockchain data for Ethereum, and CoinmarketCap has assets rankings by market cap and some pricing information. We actually did a pretty thorough analysis on the different data providers and they pros and cons:
What makes Amberdata unique is three folds:
· Combination of blockchain and market data: typically other providers offer one or the other, but not both, and not integrated with each other - with Amberdata, in one API call I can get blockchain and historically accurate pricing data at the same time. We have also standardized access across multiple blockchains, so you get one interface for all and do not have to worry about understanding each and every one of them.
· Validated & verifiable data: we work hard to preserve transparency and trust and are very open about how our metrics are calculated. For example, blockchain data comes with all the pieces needed to recompute the Mekle proofs so the integrity of the data can be verified at any moment. Also, additional metrics like circulating supply are based on tangible and very concrete definitions so anybody can follow and recalculate them by themselves if needed.
· Enriched data: we have spent a lot of time enriching our APIs with (historical) off chain data like token names and symbols, mappings for token addresses and tradable market pairs, etc. At the same time, our APIs are very granular and provide a level of detail that only a few other providers offer, especially with market data (Level 2 with order books across multiple exchanges, Best Bid Offers, etc).
That's all for the 40th AMA. We should like to thank all the community members for their participation and cooperation! Thanks, Joanes!
@matheusd started tests on testnet several months ago. I contacted him so we could integrate with the pool in June this year. We set up the machine in July and bought the first split ticket on mainnet, using the decredbrasil pool, on July 19. It was voted on July 30. After this first vote on mainnet, we opened the tests to selected users (with more technical background) on the pool. In August we opened the tests to everyone, and would call people who want to join to the #ticket_splitting channel, or to our own Slack (in Portuguese, so mostly Brazilian users). We have 28 split tickets already voted, and 16 are live. So little more than 40 split tickets total were bought on decredbrasil pool. (@girino in #pos-voting)KuCoin exchange listed DCBTC and DCETH pairs. To celebrate their anniversary they had a 99% trading fees discount on DCR pairs for 2 weeks.
Marketing might seem quiet right now, but a ton is actually going on behind the scenes to put the right foundation in place for the future. Discovery data are being analyzed to generate a positioning strategy, as well as a messaging hierarchy that can guide how to talk about Decred. This will all be agreed upon via consensus of the community in the work channels, and materials will be distributed.
Next, work is being done to identify the right PR partner to help with media relations, media training, and coordination at events. While all of this is coming up to speed, we believe the website needs a refresher reflecting the soon to be agreed upon messaging, plus a more intuitive architecture to make it easier to navigate. (@Dustorf)
We'll begin shortly reviewing conferences and events planned for the first half of 2019. Highlights are sure to include The North American Bitcoin Conference in Miami (Jan 16-18) and Consensus in NYC (May 14-16). If you have suggestions of events or conferences Decred should attend, please share them in #event_planning. In 2019, we would like to expand our presence in Europe, Asia, and South America, and we're looking for community members to help identify and staff those events. (@Dustorf)
The trouble with infrastructure, "thin" protocols in particular, is that someone has to build them at a cost. e.g. LN takes a ton of work, doesn't necessarily generate value itself, but it magnifies the value of BTC or whatever coin that uses it. I see the DEX in a similar light - whoever creates it is not going to make a bunch of money from it, but it will magnify the value of the underlying asset(s) that end up having a deep order book on the DEX. (@jy-p in #dex)
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