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Decred Journal — April 2018

This post covers what happened in Decred last month. Let's get down to business and have About section at the end.

Development

Wallet and node software version 1.2.0 has been released. Decrediton wallet highlights: improved startup experience, redesigned overview page, added basic graphs to visualize statistics and an export to CSV (helpful for tax reporting). dcrd node software highlights: significantly faster startup and compact filters to support light clients. See full release notes and downloads here, for Decrediton use 1.2.1 bugfix release.
The release process has been improved. Instead of announcing a release date and trying to meet it, a Release Candidate 1 (RC1) will now be posted. After it has been tested an bugfixed with the help of the community, a second candidate (RC2) will be released. This is repeated until an RC version with no apparent bugs becomes the final release. The new process removes a ton of pressure from developers and users and gives more time for testing. As our primary consumer-facing product, Decrediton, is growing in features and complexity, more testing will be required for new releases.
Politeia is "Getting close to a public beta of voting" (slack). Decred plugin merged, paywall and voting are in the testing stage. Ticket voting works on testnet via CLI.
Trezor support got closer as Decred patch was merged. Please note this is only firmware support, to be usable it also needs wallet integration.
WooCommerce Decred plugin alpha version is ready for testing.
Decred.org received a new sleek exchanges page.
The contributors page has been updated to add 10 new faces. Some of them are new to the project but others have been contributing for a while.
Dev activity stats for April: 152 active PRs, 125 commits, 21,656 added and 10,288 deleted lines spread across 7 repositories done by 2-7 developers per repository. (chart)

Network

Hashrate: April started at 2.0-2.7 PH/s range and seen a general increase with some big fluctuations between lows at 2.2 and new all time high above 5.2 PH/s.
Nodes: there are 200 public listening and 500 normal nodes per dcred.eu as of May 1. 169 nodes already upgraded to version 1.2.0. Some 30 nodes were observed to be testing Release Candidate versions before the final release.
Ticket price 30-day average has seen a steady rise to 87.5 DCR. Stake participation is solid 46.1% with 3.53 million DCR as of May 1.

ASICs

Updates from Obelisk's Taek:
We got results back. They are more or less on line with the simulations I didn't realize this, but we don't get the real chips back for 3 more weeks. The ones we've been testing are hacked together into a DIP package (they are BGA chips) that really screws up the results There's a decent chance that the full bga chips perform better For the time being though, we're pretty much on track for the hashrates estimated on the website (slack, Apr 12)
And regarding the June delivery date:
We're still on track for batch 1. We've ordered most of the parts we'll need, including the chips. We've got working chips, we've got test boards, test units, test everything. We've signed manufacturers to produce everything. Obelisk is going strong. (reddit, Apr 23)
We are thankful for his updates in our #pow-mining channel and hope other ASIC manufacturers will also join.
Fellow Sia miners are discussing the design of Obelisk SC1 case.
Halong: B29 units are shipping. The amount of units in first batch was estimated 450-600 by our community member. Review of DragonMint B29 published, people are discussing shipping and running the miners.
By surprise, Innosilicon announced the sale of D9 DecredMaster ASIC miner with specs identical to Halong B29 while being much cheaper ($6800 Inno vs $10499 Halong). Expected shipping date of the first batch is April 28-30. The company is active on their bitcointalk thread, also see our reddit.
Just 9 days later Innosilicon announced second batch with delivery on May 7-11 and same price of $6800. (reddit)

Integrations

Decred's Brazilian community made good progress with integrations this month.
emiliomann: On April 2nd @Rhama will launch the first BR exchange of altcoins with fiat market and totally within the laws of the Brazilian government. Decred will have the two markets DCBTC and DCBRL. It’s very difficult to fulfill all the legal requirements and get authorization to work with FIAT here.
The exchange turned out to be Profitfy. Profity is innovating by using dcrtime for their blockchain ID login via Original My. Great to see this deeper engagement with the tools that Decred provides, and not a surprise that it comes from @Rhama, who has been a community member since day one.
This seems to have spurred another exchange, Braziliex, to bring forward their launch of DCBRL and DCBTC pairs, coming just 2 hours after Profitfy launched.
Not stopping there,
emiliomann: Hey guys, this is a poll of the biggest Bitcoin exchange in Brazil that is planning to open altcoins markets. Please, help the Brazilian community by voting for Decred! Just one click. Thank you! https://twitter.com/mercadobitcoin/status/981602483268194307
Finally,
viniciusfrias: We're excited to announce PagueCripto.com, a Brazilian crypto-to-fiat payment gateway which accepts Decred among other cryptocurrencies for Brazilians to pay daily bills, such as credit cards, energy, rent, etc, and also to make local bank transfers. Our service is both a web platform and an Android app, and as our community is relevant in Brazil, we are offering a discount coupon (50%) in service fees using DCR until May 14, 2018. Check it out at paguecripto.com and in Google Play Store. (slack)
Moving to other countries, good news from Canada:
michae2xl: Decred is now available on @ezBtcCanada, an exchange with DCCAD trading pair. From Toronto – ezbtc.ca
i2Rav announced i2trading.com, a new trading desk that will be offering DCEUR pair:
Eventually we hope to offer the pair in GBP and YEN as well
changenow.io, a non-custodian exchange for fast conversions, added DCR.
You can see all exchanges known to support Decred in a spreadsheet maintained by snr01. Many of them are missing from coinmarketcap.

Adoption

The Crypto Lawyers, LLP, a crypto exclusive U.S. law firm began accepting Decred (reddit):
RAurelius: I think that a law firm accepting Decred is a worthy distinction from other previously publicized companies that accept Decred for typical consumer products. Legal services are severely lacking in the Crypto-sphere, so the publicity is good for everyone in this arena.
Great to see business owners reaching us directly in chat.
VotoLegal is migrating from Ethereum to Decred blockchain:
emiliomann: VotoLegal, a Brazilian project that uses blockchain technology to allow election campaign funding to be transparent and that all transactions conducted are tracked and made available to the citizens, now uses dcrtime and Decred blockchain. https://twitter.com/decred_bstatus/986610826051276800 (slack)

Partnerships

YBF Ventures and Decred announced partnership in building a blockchain-focused development and business hub in Australia.
With the YBF Ventures partnership, Decred hopes to grow their Australian contractor network and scale their operations throughout the Asia-Pacific region. (btcmanager.com)
We specifically chose Decred for a more robust corporate partnership, and it is the first time that a decentralised autonomous organisation is partnering with a ‘traditional’ organisation in such a capacity. (ybfventures.com)

Marketing

Dustorf joined on the marketing front and is conducting a brand discovery analysis:
Decred is soliciting the input of our user community. In order to better understand you, what you think of Decred, and where you would like it to focus its efforts, we've come up with a short (4 minute) survey. Your input of all varieties is most appreciated https://www.surveymonkey.com/2LHK3FV
April targeted advertising report released (previous March report here). Reach @timhebel for full version.
The iconic "Not Overly Scammy" t-shirt by cryptograffiti is available for purchase. For those wondering, the meme originates from @fluffypony.
Some hilarious promos by @jackliv3r: one two three.

Events

Community event at YBF Ventures in Australia.
Meetup in Wroclaw, Poland.
BBQ with @scalarcapital team in Austin, USA.
Blockchain Expo in London, UK. Decred was well represented at this large-scale industry event. Project Lead Jake took part in several interview and the Decred stand manned by community members was flooded with inquisitive visitors. (video, photo 1 2 3)
First Decred meetup in Hangzhou, China. (slack)
Business of Blockchain at MIT Media Lab in Cambridge, USA. Presentation: Blockchain Sovereignty and Blockchain Integration for Businesses by Jake Yocom-Piatt. (event, reddit, photo 1 2 3)
Cambridge Blockchain Meetup in Cambridge, USA. Talk: Cutting the Head off the Snake by Jake Yocom-Piatt. (event, photo 1 2 3)
Upcoming events:

Media

Second episode of Lightning Network educational series is out, exploring topics such as payment channels, onion routing, centralization risk, and challenges that still lie ahead. (youtube)
A user’s perspective and introduction to blockchain governance (Richard Red)
The Importance of Governance: Analyzing the Aftermath of the Monero Hard Fork by Noah Pierau (btcmanager.com)
The Crypto Show w/ Marco from Decred (youtube)
Interview with Jake at @Blockchain_Expo by Crypto Coin Growth (youtube)
Interview with Jake at @Blockchain_Expo by Cryptocurrency Academy (youtube)
Alternative Blockchain Governance Systems With Jake & Kyle From Decred at @Blockchain_Expo by Crypto Disrupt (youtube)
Decred Looks Ahead: An Interview with Project Lead Jake Yocom-Piatt (Exclusive) (sludgefeed.com)
How Complex Bitcoin Politics Led to the Creation of Decred (btcmanager.com)
Interview with Decred’s Project Lead Jake Yocom-Piatt on Crypto Ad Bans and Market Volatility (cryptoslate.com)
Decred’s Jonathan Zeppettini: The Industry Is Going To Be Displacing Wall Street (blocktribune.com)
On Chain VS. Off Chain Governance: The Ins And Outs (coinjournal.net)
Decred: On true decentralisation, Bitcoin communities, and avoiding the ICO route [Video] (blockchaintechnology-news.com)
Marco in shitcoin talk episode 54 (youtube)

Community Discussions

Reddit highlights: A debate on Decred protocol security and attack cost, a comparison of expected and actual block production times, a write-up on distribution of powers and how Monero could benefit from a PoS governance layer, two other threads on ASIC resistance, and one discussing different types of decentralization.
Very thoughtful discussion on whether it is appropriate to use half naked photos in marketing, followed by meta-discussion how to handle very polarizing issues and unwanted contributions to the marketing efforts of a decentralized project. (slack, continued)
A new #governance channel was created to discuss governance in Decred and other projects.
politeia subreddit was recovered for Decred community. Thanks to Tivra for filing the request. Politeia can bring a lot of value outside Decred so it well deserves its own sub.
A new Slack invite page has been setup and onboarded 40 people in 48 hours.
Decred StackExchange site proposal was closed due to inactivity in a 7 day period, according to Area 51 rules.

Markets

In April Decred showed a confident recovery after previous months. DCUSD moved from below $40 to nearly $90 and the more liquid DCBTC from 0.0058 to 0.0093.
OOOBTC showed unexpectedly huge DCR trading volume of $19 m on April 10 (reddit), it went back to normal 2 weeks later.
On April 25 a wild rush took the price from 0.00777 to 0.0177 BTC in under 30 minutes on Poloniex, setting a new USD all time high of ~$165 ($141 world average). Prices on other exchanges followed to a lesser degree. Possible causes were discussed on reddit. Talking about all time highs, an indicator tracking difference between ATH and current price shows Decred is competitive at retaining USD value.

Relevant External

Bittrex finally opened registrations again.
ASIC debates are raging after Bitmain stealth-launched ASICs for Sia, Monero and Ethereum. Most opinions reflect on whether and how to resist ASICs, but some are recognizing the Decred way, like this excellent piece.
The importance of governance is gaining recognition as well. One notable example is Mike Hearn's AMA where it was a hot topic.

About This Issue

This project was motivated by the desire to expose just how much is happening in Decred and save the time for people unable to actively follow our channels. It aims to cover all relevant developments with a short description and links to read further. It shows the depth of the project and the involvement of the community. We also plan to launch a newsletter and consider a shorter version if there is such a demand.
This is the first issue and feedback is welcome to discover what is best for our readers. Please join our Slack and write us on #writers_room or comment directly on GitHub. Any help is welcome too.
Credits (Slack names, alphabetical order): bee, jazzah, Richard-Red, snr01 and vj.
submitted by jet_user to decred [link] [comments]

Decred Journal — May 2018

Note: New Reddit look may not highlight links. See old look here. A copy is hosted on GitHub for better reading experience. Check it out, contains photo of the month! Also on Medium

Development

dcrd: Significant optimization in signature hash calculation, bloom filters support was removed, 2x faster startup thanks to in-memory full block index, multipeer work advancing, stronger protection against majority hashpower attacks. Additionally, code refactoring and cleanup, code and test infrastructure improvements.
In dcrd and dcrwallet developers have been experimenting with new modular dependency and versioning schemes using vgo. @orthomind is seeking feedback for his work on reproducible builds.
Decrediton: 1.2.1 bugfix release, work on SPV has started, chart additions are in progress. Further simplification of the staking process is in the pipeline (slack).
Politeia: new command line tool to interact with Politeia API, general development is ongoing. Help with testing will soon be welcome: this issue sets out a test plan, join #politeia to follow progress and participate in testing.
dcrdata: work ongoing on improved design, adding more charts and improving Insight API support.
Android: design work advancing.
Decred's own DNS seeder (dcrseeder) was released. It is written in Go and it properly supports service bit filtering, which will allow SPV nodes to find full nodes that support compact filters.
Ticket splitting service by @matheusd entered beta and demonstrated an 11-way split on mainnet. Help with testing is much appreciated, please join #ticket_splitting to participate in splits, but check this doc to learn about the risks. Reddit discussion here.
Trezor support is expected to land in their next firmware update.
Decred is now supported by Riemann, a toolbox from James Prestwich to construct transactions for many UTXO-based chains from human-readable strings.
Atomic swap with Ethereum on testnet was demonstrated at Blockspot Conference LATAM.
Two new faces were added to contributors page.
Dev activity stats for May: 238 active PRs, 195 master commits, 32,831 added and 22,280 deleted lines spread across 8 repositories. Contributions came from 4-10 developers per repository. (chart)

Network

Hashrate: rapid growth from ~4,000 TH/s at the beginning of the month to ~15,000 at the end with new all time high of 17,949. Interesting dynamic in hashrate distribution across mining pools: coinmine.pl share went down from 55% to 25% while F2Pool up from 2% to 44%. [Note: as of June 6, the hashrate continues to rise and has already passed 22,000 TH/s]
Staking: 30-day average ticket price is 91.3 DCR (+0.8), stake participation is 46.9% (+0.8%) with 3.68 million DCR locked (+0.15). Min price was 85.56. On May 11 ticket price surged to 96.99, staying elevated for longer than usual after such a pump. Locked DCR peaked at 47.17%. jet_user on reddit suggested that the DCR for these tickets likely came from a miner with significant hashrate.
Nodes: there are 226 public listening and 405 normal nodes per dcred.eu. Version distribution: 45% on v1.2.0 (up from 24% last month), 39% on v1.1.2, 15% on v1.1.0 and 1% running outdaded versions.

ASICs

Obelisk team posted an update. Current hashrate estimate of DCR1 is 1200 GH/s at 500 W and may still change. The chips came back at 40% the speed of the simulated results, it is still unknown why. Batch 1 units may get delayed 1-2 weeks past June 30. See discussions on decred and on siacoin.
@SiaBillionaire estimated that 7940 DCR1 units were sold in Batches 1-5, while Lynmar13 shared his projections of DCR1 profitability (reddit).
A new Chinese miner for pre-order was noticed by our Telegram group. Woodpecker WB2 specs 1.5 TH/s at 1200 W, costs 15,000 CNY (~2,340 USD) and the initial 150 units are expected to ship on Aug 15. (pow8.comtranslated)
Another new miner is iBelink DSM6T: 6 TH/s at 2100 W costing $6,300 (ibelink.co). Shipping starts from June 5. Some concerns and links were posted in these two threads.

Integrations

A new mining pool is available now: altpool.net. It uses PPLNS model and takes 1% fee.
Another infrastructure addition is tokensmart.io, a newly audited stake pool with 0.8% fee. There are a total of 14 stake pools now.
Exchange integrations:
OpenBazaar released an update that allows one to trade cryptocurrencies, including DCR.
@i2Rav from i2trading is now offering two sided OTC market liquidity on DCUSD in #trading channel.
Paytomat, payments solution for point of sale and e-commerce, integrated Decred. (missed in April issue)
CoinPayments, a payment processor supporting Decred, developed an integration with @Shopify that allows connected merchants to accept cryptocurrencies in exchange for goods.

Adoption

New merchants:
An update from VotoLegal:
michae2xl: Voto Legal: CEO Thiago Rondon of Appcívico, has already been contacted by 800 politicians and negotiations have started with four pre-candidates for the presidency (slack, source tweet)
Blockfolio rolled out Signal Beta with Decred in the list. Users who own or watch a coin will automatically receive updates pushed by project teams. Nice to see this Journal made it to the screenshot!
Placeholder Ventures announced that Decred is their first public investment. Their Investment Thesis is a clear and well researched overview of Decred. Among other great points it noted the less obvious benefit of not doing an ICO:
By choosing not to pre-sell coins to speculators, the financial rewards from Decred’s growth most favor those who work for the network.
Alex Evans, a cryptoeconomics researcher who recently joined Placeholder, posted his 13-page Decred Network Analysis.

Marketing

@Dustorf published March–April survey results (pdf). It analyzes 166 responses and has lots of interesting data. Just an example:
"I own DECRED because I saw a YouTube video with DECRED Jesus and after seeing it I was sold."
May targeted advertising report released. Reach @timhebel for full version.
PiedPiperCoin hired our advisors.
More creative promos by @jackliv3r: Contributing, Stake Now, The Splitting, Forbidden Exchange, Atomic Swaps.
Reminder: Stakey has his own Twitter account where he tweets about his antics and pours scorn on the holders of expired tickets.
"Autonomy" coin sculpture is available at sigmasixdesign.com.

Events

BitConf in Sao Paulo, Brazil. Jake Yocom-Piatt presented "Decentralized Central Banking". Note the mini stakey on one of the photos. (articletranslated, photos: 1 2 album)
Wicked Crypto Meetup in Warsaw, Poland. (video, photos: 1 2)
Decred Polska Meetup in Katowice, Poland. First known Decred Cake. (photos: 1 2)
Austin Hispanic Hackers Meetup in Austin, USA.
Consensus 2018 in New York, USA. See videos in the Media section. Select photos: booth, escort, crew, moon boots, giant stakey. Many other photos and mentions were posted on Twitter. One tweet summarized Decred pretty well:
One project that stands out at #Consensus2018 is @decredproject. Not annoying. Real tech. Humble team. #BUIDL is strong with them. (@PallerJohn)
Token Summit in New York, USA. @cburniske and @jmonegro from Placeholder talked "Governance and Cryptoeconomics" and spoke highly of Decred. (twitter coverage: 1 2, video, video (from 32 min))
Campus Party in Bahia, Brazil. João Ferreira aka @girino and Gabriel @Rhama were introducing Decred, talking about governance and teaching to perform atomic swaps. (photos)
Decred was introduced to the delegates from Shanghai's Caohejing Hi-Tech Park, organized by @ybfventures.
Second Decred meetup in Hangzhou, China. (photos)
Madison Blockchain in Madison, USA. "Lots of in-depth questions. The Q&A lasted longer than the presentation!". (photo)
Blockspot Conference Latam in Sao Paulo, Brazil. (photos: 1, 2)
Upcoming events:
There is a community initiative by @vj to organize information related to events in a repository. Jump in #event_planning channel to contribute.

Media

Decred scored B (top 3) in Weiss Ratings and A- (top 8) in Darpal Rating.
Chinese institute is developing another rating system for blockchains. First round included Decred (translated). Upon release Decred ranked 26. For context, Bitcoin ranked 13.
Articles:
Audios:
Videos:

Community Discussions

Community stats: Twitter 39,118 (+742), Reddit 8,167 (+277), Slack 5,658 (+160). Difference is between May 5 and May 31.
Reddit highlights: transparent up/down voting on Politeia, combining LN and atomic swaps, minimum viable superorganism, the controversial debate on Decred contractor model (people wondered about true motives behind the thread), tx size and fees discussion, hard moderation case, impact of ASICs on price, another "Why Decred?" thread with another excellent pitch by solar, fee analysis showing how ticket price algorithm change was controversial with ~100x cut in miner profits, impact of ticket splitting on ticket price, recommendations on promoting Decred, security against double spends and custom voting policies.
@R3VoLuT1OneR posted a preview of a proposal from his company for Decred to offer scholarships for students.
dcrtrader gained a couple of new moderators, weekly automatic threads were reconfigured to monthly and empty threads were removed. Currently most trading talk happens on #trading and some leaks to decred. A separate trading sub offers some advantages: unlimited trading talk, broad range of allowed topics, free speech and transparent moderation, in addition to standard reddit threaded discussion, permanent history and search.
Forum: potential social attacks on Decred.
Slack: the #governance channel created last month has seen many intelligent conversations on topics including: finite attention of decision makers, why stakeholders can make good decisions (opposed to a common narrative than only developers are capable of making good decisions), proposal funding and contractor pre-qualification, Cardano and Dash treasuries, quadratic voting, equality of outcome vs equality of opportunity, and much more.
One particularly important issue being discussed is the growing number of posts arguing that on-chain governance and coin voting is bad. Just a few examples from Twitter: Decred is solving an imagined problem (decent response by @jm_buirski), we convince ourselves that we need governance and ticket price algo vote was not controversial, on-chain governance hurts node operators and it is too early for it, it robs node operators of their role, crypto risks being captured by the wealthy, it is a huge threat to the whole public blockchain space, coin holders should not own the blockchain.
Some responses were posted here and here on Twitter, as well as this article by Noah Pierau.

Markets

The month of May has seen Decred earn some much deserved attention in the markets. DCR started the month around 0.009 BTC and finished around 0.0125 with interim high of 0.0165 on Bittrex. In USD terms it started around $81 and finished around $92, temporarily rising to $118. During a period in which most altcoins suffered, Decred has performed well; rising from rank #45 to #30 on Coinmarketcap.
The addition of a much awaited KRW pair on Upbit saw the price briefly double on some exchanges. This pair opens up direct DCR to fiat trading in one of the largest cryptocurrency markets in the world.
An update from @i2Rav:
We have begun trading DCR in large volume daily. The interest around DCR has really started to grow in terms of OTC quote requests. More and more customers are asking about trading it.
Like in previous month, Decred scores high by "% down from ATH" indicator being #2 on onchainfx as of June 6.

Relevant External

David Vorick (@taek) published lots of insights into the world of ASIC manufacturing (reddit). Bitmain replied.
Bitmain released an ASIC for Equihash (archived), an algorithm thought to be somewhat ASIC-resistant 2 years ago.
Three pure PoW coins were attacked this month, one attempting to be ASIC resistant. This shows the importance of Decred's PoS layer that exerts control over miners and allows Decred to welcome ASIC miners for more PoW security without sacrificing sovereignty to them.
Upbit was raided over suspected fraud and put under investigation. Following news reported no illicit activity was found and suggested and raid was premature and damaged trust in local exchanges.
Circle, the new owner of Poloniex, announced a USD-backed stablecoin and Bitmain partnership. The plan is to make USDC available as a primary market on Poloniex. More details in the FAQ.
Poloniex announced lower trading fees.
Bittrex plans to offer USD trading pairs.
@sumiflow made good progress on correcting Decred market cap on several sites:
speaking of market cap, I got it corrected on coingecko, cryptocompare, and worldcoinindex onchainfx, livecoinwatch, and cryptoindex.co said they would update it about a month ago but haven't yet I messaged coinlib.io today but haven't got a response yet coinmarketcap refused to correct it until they can verify certain funds have moved from dev wallets which is most likely forever unknowable (slack)

About This Issue

Some source links point to Slack messages. Although Slack hides history older than ~5 days, you can read individual messages if you paste the message link into chat with yourself. Digging the full conversation is hard but possible. The history of all channels bridged to Matrix is saved in Matrix. Therefore it is possible to dig history in Matrix if you know the timestamp of the first message. Slack links encode the timestamp: https://decred.slack.com/archives/C5H9Z63AA/p1525528370000062 => 1525528370 => 2018-05-05 13:52:50.
Most information from third parties is relayed directly from source after a minimal sanity check. The authors of Decred Journal have no ability to verify all claims. Please beware of scams and do your own research.
Your feedback is precious. You can post on GitHub, comment on Reddit or message us in #writers_room channel.
Credits (Slack names, alphabetical order): bee, Richard-Red, snr01 and solar.
submitted by jet_user to decred [link] [comments]

AMD's Growing CPU Advantage Over Intel

https://seekingalpha.com/article/4152240-amds-growing-cpu-advantage-intel?page=1
AMD's Growing CPU Advantage Over Intel Mar. 1.18 | About: Advanced Micro (AMD)
Raymond Caron, Ph.D. Tech, solar, natural resources, energy (315 followers) Summary AMD's past and economic hazards. AMD's Current market conditions. AMD Zen CPU advantage over Intel. AMD is primarily a CPU fabrication company with much experience and a great history in that respect. They hold patents for 64-bit processing, as well as ARM based processing patents, and GPU architecture patents. AMD built a name for itself in the mid-to-late 90’s when they introduced the K-series CPU’s to good reviews followed by the Athlon series in ‘99. AMD was profitable, they bought the companies NexGen, Alchemy Semiconductor, and ATI. Past Economic Hazards If AMD has such a great history, then what happened? Before I go over the technical advantage that AMD has over Intel, it’s worth looking to see how AMD failed in the past, and to see if those hazards still present a risk to AMD. As for investment purposes we’re more interested in AMD’s turning a profit. AMD suffered from intermittent CPU fabrication problems, and was also the victim of sustained anti-competitive behaviour from Intel who interfered with AMD’s attempts to sell its CPU’s to the market through Sony, Hitachi, Toshiba, Fujitsu, NEC, Dell, Gateway, HP, Acer, and Lenovo. Intel was investigated and/or fined by multiple countries including Japan, Korea, USA, and EU. These hazard needs to be examined to see if history will repeat itself. There have been some rather large changes in the market since then.
1) The EU has shown they are not averse to leveling large fines, and Intel is still fighting the guilty verdict from the last EU fine levied against them; they’ve already lost one appeal. It’s conceivable to expect that the EU, and other countries, would prosecute Intel again. This is compounded by the recent security problems with Intel CPU’s and the fact that Intel sold these CPU’s under false advertising as secure when Intel knew they were not. Here are some of the largest fines dished out by the EU
2) The Internet has evolved from Web 1.0 to 2.0. Consumers are increasing their online presence each year. This reduces the clout that Intel can wield over the market as AMD can more easily sell to consumers through smaller Internet based companies.
3) Traditional distributors (HP, Dell, Lenovo, etc.) are struggling. All of these companies have had recent issues with declining revenue due to Internet competition, and ARM competition. These companies are struggling for sales and this reduces the clout that Intel has over them, as Intel is no longer able to ensure their future. It no longer pays to be in the club. These points are summarized in the graph below, from Statista, which shows “ODM Direct” sales and “other sales” increasing their market share from 2009 to Q3 2017. 4) AMD spun off Global Foundries as a separate company. AMD has a fabrication agreement with Global Foundries, but is also free to fabricate at another foundry such as TSMC, where AMD has recently announced they will be printing Vega at 7nm.
5) Global Foundries developed the capability to fabricate at 16nm, 14nm, and 12nm alongside Samsung, and IBM, and bought the process from IBM to fabricate at 7nm. These three companies have been cooperating to develop new fabrication nodes.
6) The computer market has grown much larger since the mid-90’s – 2006 when AMD last had a significant tangible advantage over Intel, as computer sales rose steadily until 2011 before starting a slow decline, see Statista graph below. The decline corresponds directly to the loss of competition in the marketplace between AMD and Intel, when AMD released the Bulldozer CPU in 2011. Tablets also became available starting in 2010 and contributed to the fall in computer sales which started falling in 2012. It’s important to note that computer shipments did not fall in 2017, they remained static, and AMD’s GPU market share rose in Q4 2017 at the expense of Nvidia and Intel.
7) In terms of fabrication, AMD has access to 7nm on Global Foundries as well as through TSMC. It’s unlikely that AMD will experience CPU fabrication problems in the future. This is something of a reversal of fortunes as Intel is now experiencing issues with its 10nm fabrication facilities which are behind schedule by more than 2 years, and maybe longer. It would be costly for Intel to use another foundry to print their CPU’s due to the overhead that their current foundries have on their bottom line. If Intel is unable to get the 10nm process working, they’re going to have difficulty competing with AMD. AMD: Current market conditions In 2011 AMD released its Bulldozer line of CPU’s to poor reviews and was relegated to selling on the discount market where sales margins are low. Since that time AMD’s profits have been largely determined by the performance of its GPU and Semi-Custom business. Analysts have become accustomed to looking at AMD’s revenue from a GPU perspective, which isn’t currently being seen in a positive light due to the relation between AMD GPU’s and cryptocurrency mining.
The market views cryptocurrency as further risk to AMD. When Bitcoin was introduced it was also mined with GPU’s. When the currency switched to ASIC circuits (a basic inexpensive and simple circuit) for increased profitability (ASIC’s are cheaper because they’re simple), the GPU’s purchased for mining were resold on the market and ended up competing with and hurting new AMD GPU sales. There is also perceived risk to AMD from Nvidia which has favorable reviews for its Pascal GPU offerings. While AMD has been selling GPU’s they haven’t increased GPU supply due to cryptocurrency demand, while Nvidia has. This resulted in a very high cost for AMD GPU’s relative to Nvidia’s. There are strategic reasons for AMD’s current position:
1) While the AMD GPU’s are profitable and greatly desired for cryptocurrency mining, AMD’s market access is through 3rd party resellers whom enjoy the revenue from marked-up GPU sales. AMD most likely makes lower margins on GPU sales relative to the Zen CPU sales due to higher fabrication costs associated with the fabrication of larger size dies and the corresponding lower yield. For reference I’ve included the size of AMD’s and Nvidia’s GPU’s as well as AMD’s Ryzen CPU and Intel’s Coffee lake 8th generation CPU. This suggests that if AMD had to pick and choose between products, they’d focus on Zen due higher yield and revenue from sales and an increase in margin.
2) If AMD maintained historical levels of GPU production in the face of cryptocurrency demand, while increasing production for Zen products, they would maximize potential income for highest margin products (EPYC), while reducing future vulnerability to second-hand GPU sales being resold on the market. 3) AMD was burned in the past from second hand GPU’s and want to avoid repeating that experience. AMD stated several times that the cryptocurrency boom was not factored into forward looking statements, meaning they haven’t produced more GPU’s to expect more GPU sales.
In contrast, Nvidia increased its production of GPU’s due to cryptocurrency demand, as AMD did in the past. Since their Pascal GPU has entered its 2nd year on the market and is capable of running video games for years to come (1080p and 4k gaming), Nvidia will be entering a position where they will be competing directly with older GPU’s used for mining, that are as capable as the cards Nvidia is currently selling. Second-hand GPU’s from mining are known to function very well, with only a need to replace the fan. This is because semiconductors work best in a steady state, as opposed to being turned on and off, so it will endure less wear when used 24/7.
The market is also pessimistic regarding AMD’s P/E ratio. The market is accustomed to evaluating stocks using the P/E ratio. This statistical test is not actually accurate in evaluating new companies, or companies going into or coming out of bankruptcy. It is more accurate in evaluating companies that have a consistent business operating trend over time.
“Similarly, a company with very low earnings now may command a very high P/E ratio even though it isn’t necessarily overvalued. The company may have just IPO’d and growth expectations are very high, or expectations remain high since the company dominates the technology in its space.” P/E Ratio: Problems With The P/E I regard the pessimism surrounding AMD stock due to GPU’s and past history as a positive trait, because the threat is minor. While AMD is experiencing competitive problems with its GPU’s in gaming AMD holds an advantage in Blockchain processing which stands to be a larger and more lucrative market. I also believe that AMD’s progress with Zen, particularly with EPYC and the recent Meltdown related security and performance issues with all Intel CPU offerings far outweigh any GPU turbulence. This turns the pessimism surrounding AMD regarding its GPU’s into a stock benefit. 1) A pessimistic group prevents the stock from becoming a bubble. -It provides a counter argument against hype relating to product launches that are not proven by earnings. Which is unfortunately a historical trend for AMD as they have had difficulty selling server CPU’s, and consumer CPU’s in the past due to market interference by Intel. 2) It creates predictable daily, weekly, monthly, quarterly fluctuations in the stock price that can be used, to generate income. 3) Due to recent product launches and market conditions (Zen architecture advantage, 12nm node launching, Meltdown performance flaw affecting all Intel CPU’s, Intel’s problems with 10nm) and the fact that AMD is once again selling a competitive product, AMD is making more money each quarter. Therefore the base price of AMD’s stock will rise with earnings, as we’re seeing. This is also a form of investment security, where perceived losses are returned over time, due to a stock that is in a long-term upward trajectory due to new products reaching a responsive market.
4) AMD remains a cheap stock. While it’s volatile it’s stuck in a long-term upward trend due to market conditions and new product launches. An investor can buy more stock (with a limited budget) to maximize earnings. This is advantage also means that the stock is more easily manipulated, as seen during the Q3 2017 ER.
5) The pessimism is unfounded. The cryptocurrency craze hasn’t died, it increased – fell – and recovered. The second hand market did not see an influx of mining GPU’s as mining remains profitable.
6) Blockchain is an emerging market, that will eclipse the gaming market in size due to the wide breath of applications across various industries. Vega is a highly desired product for Blockchain applications as AMD has retained a processing and performance advantage over Nvidia. There are more and rapidly growing applications for Blockchain every day, all (or most) of which will require GPU’s. For instance Microsoft, The Golem supercomputer, IBM, HP, Oracle, Red Hat, and others. Long-term upwards trend AMD is at the beginning of a long-term upward trend supported by a comprehensive and competitive product portfolio that is still being delivered to the market, AMD referred to this as product ramping. AMD’s most effective products with Zen is EPYC, and the Raven Ridge APU. EPYC entered the market in mid-December and was completely sold out by mid-January, but has since been restocked. Intel remains uncompetitive in that industry as their CPU offerings are retarded by a 40% performance flaw due to Meltdown patches. Server CPU sales command the highest margins for both Intel and AMD.
The AMD Raven Ridge APU was recently released to excellent reviews. The APU is significant due to high GPU prices driven buy cryptocurrency, and the fact that the APU is a CPU/GPU hybrid which has the performance to play games available today at 1080p. The APU also supports the Vulcan API, which can call upon multiple GPU’s to increase performance, so a system can be upgraded with an AMD or Nvidia GPU that supports Vulcan API at a later date for increased performance for those games or workloads that been programmed to support it. Or the APU can be replaced when the prices of GPU’s fall.
AMD also stands to benefit as Intel confirmed that their new 10 nm fabrication node is behind in technical capability relative to the Samsung, TSMC, and Global Foundries 7 nm fabrication process. This brings into questions Intel’s competitiveness in 2019 and beyond. Take-Away • AMD was uncompetitive with respect to CPU’s from 2011 to 2017 • When AMD was competitive, from 1996 to 2011 they did record profit and bought 3 companies including ATI. • AMD CPU business suffered from: • Market manipulation from Intel. • Intel fined by EU, Japan, Korea, and settled with the USA • Foundry productivity and upgrade complications • AMD has changed • Global Foundries spun off as an independent business • Has developed 14nm &12nm, and is implementing 7nm fabrication • Intel late on 10nm, is less competitive than 7nm node • AMD to fabricate products using multiple foundries (TSMC, Global Foundries) • The market has changed • More AMD products are available on the Internet and both the adoption of the Internet and the size of the Internet retail market has exploded, thanks to the success of smartphones and tablets. • Consumer habits have changed, more people shop online each year. Traditional retailers have lost market share. • Computer market is larger (on-average), but has been declining. While Computer shipments declined in Q2 and Q3 2017, AMD sold more CPU’s. • AMD was uncompetitive with respect to CPU’s from 2011 to 2017. • Analysts look to GPU and Semi-Custom sales for revenue. • Cryptocurrency boom intensified, no crash occurred. • AMD did not increase GPU production to meet cryptocurrency demand. • Blockchain represents a new growth potential for AMD GPU’s. • Pessimism acts as security against a stock bubble & corresponding bust. • Creates cyclical volatility in the stock that can be used to generate profit. • P/E ratio is misleading when used to evaluate AMD. • AMD has long-term growth potential. • 2017 AMD releases competitive product portfolio. • Since Zen was released in March 2017 AMD has beat ER expectations. • AMD returns to profitability in 2017. • AMD taking measureable market share from Intel in OEM CPU Desktop and in CPU market. • High margin server product EPYC released in December 2017 before worst ever CPU security bug found in Intel CPU’s that are hit with detrimental 40% performance patch. • Ryzen APU (Raven Ridge) announced in February 2018, to meet gaming GPU shortage created by high GPU demand for cryptocurrency mining. • Blockchain is a long-term growth opportunity for AMD. • Intel is behind the competition for the next CPU fabrication node. AMD’s growing CPU advantage over Intel About AMD’s Zen Zen is a technical breakthrough in CPU architecture because it’s a modular design and because it is a small CPU while providing similar or better performance than the Intel competition.
Since Zen was released in March 2017, we’ve seen AMD go from 18% CPU market share in the OEM consumer desktops to essentially 50% market share, this was also supported by comments from Lisa Su during the Q3 2017 ER call, by MindFactory.de, and by Amazon sales of CPU’s. We also saw AMD increase its market share of total desktop CPU’s. We also started seeing market share flux between AMD and Intel as new CPU’s are released. Zen is a technical breakthrough supported by a few general guidelines relating to electronics. This provides AMD with an across the board CPU market advantage over Intel for every CPU market addressed.
1) The larger the CPU the lower the yield. - Zen architecture that makes up Ryzen, Threadripper, and EPYC is smaller (44 mm2 compared to 151 mm2 for Coffee Lake). A larger CPU means fewer CPU’s made during fabrication per wafer. AMD will have roughly 3x the fabrication yield for each Zen printed compared to each Coffee Lake printed, therefore each CPU has a much lower cost of manufacturing.
2) The larger the CPU the harder it is to fabricate without errors. - The chance that a CPU will be perfectly fabricated falls exponentially with increasing surface area. Intel will have fewer high quality CPU’s printed compared to AMD. This means that AMD will make a higher margin on each CPU sold. AMD’s supply of perfect printed Ryzen’s (1800X) are so high that the company had to give them away at a reduced cost in order to meet supply demands for the cheaper Ryzen 5 1600X. If you bought a 1600X in August/September, you probably ended up with an 1800X.
3) Larger CPU’s are harder to fabricate without errors on smaller nodes. -The technical capability to fabricate CPU’s at smaller nodes becomes more difficult due to the higher precision that is required to fabricate at a smaller node, and due to the corresponding increase in errors. “A second reason for the slowdown is that it’s simply getting harder to design, inspect and test chips at advanced nodes. Physical effects such as heat, electrostatic discharge and electromagnetic interference are more pronounced at 7nm than at 28nm. It also takes more power to drive signals through skinny wires, and circuits are more sensitive to test and inspection, as well as to thermal migration across a chip. All of that needs to be accounted for and simulated using multi-physics simulation, emulation and prototyping.“ Is 7nm The Last Major Node? “Simply put, the first generation of 10nm requires small processors to ensure high yields. Intel seems to be putting the smaller die sizes (i.e. anything under 15W for a laptop) into the 10nm Cannon Lake bucket, while the larger 35W+ chips will be on 14++ Coffee Lake, a tried and tested sub-node for larger CPUs. While the desktop sits on 14++ for a bit longer, it gives time for Intel to further develop their 10nm fabrication abilities, leading to their 10+ process for larger chips by working their other large chip segments (FPGA, MIC) first.” There are plenty of steps where errors can be created within a fabricated CPU. This is most likely the culprit behind Intel’s inability to launch its 10nm fabrication process. They’re simply unable to print such a large CPU on such a small node with high enough yields to make the process competitive. Intel thought they were ahead of the competition with respect to printing large CPU’s on a small node, until AMD avoided the issue completely by designing a smaller modular CPU. Intel avoided any mention of its 10nm node during its Q4 2017 ER, which I interpret as bad news for Intel shareholders. If you have nothing good to say, then you don’t say anything. Intel having nothing to say about something that is fundamentally critical to its success as a company can’t be good. Intel is on track however to deliver hybrid CPU’s where some small components are printed on 10nm. It’s recently also come to light that Intel’s 10nm node is less competitive than the Global Foundries, Samsung, and TSMC 7nm nodes, which means that Intel is now firmly behind in CPU fabrication. 4) AMD Zen is a new architecture built from the ground up. Intel’s CPU’s are built on-top of older architecture developed with 30-yr old strategies, some of which we’ve recently discovered are flawed. This resulted in the Meltdown flaw, the Spectre flaws, and also includes the ME, and AMT bugs in Intel CPU’s. While AMD is still affected by Spectre, AMD has only ever acknowledged that they’re completely susceptible to Spectre 1, as AMD considers Spectre 2 to be difficult to exploit on an AMD Zen CPU. “It is much more difficult on all AMD CPUs, because BTB entries are not aliased - the attacker must know (and be able to execute arbitrary code at) the exact address of the targeted branch instruction.” Technical Analysis of Spectre & Meltdown * Amd Further reading Spectre and Meltdown: Linux creator Linus Torvalds criticises Intel's 'garbage' patches | ZDNet FYI: Processor bugs are everywhere - just ask Intel and AMD Meltdown and Spectre: Good news for AMD users, (more) bad news for Intel Cybersecurity agency: The only sure defense against huge chip flaw is a new chip Kernel-memory-leaking Intel processor design flaw forces Linux, Windows redesign Take-Away • AMD Zen enjoys a CPU fabrication yield advantage over Intel • AMD Zen enjoys higher yield of high quality CPU’s • Intel’s CPU’s are affected with 40% performance drop due to Meltdown flaw that affect server CPU sales.
AMD stock drivers 1) EPYC • -A critically acclaimed CPU that is sold at a discount compared to Intel. • -Is not affected by 40% software slow-downs due to Meltdown. 2) Raven Ridge desktop APU • - Targets unfed GPU market which has been stifled due to cryptocurrency demand - Customers can upgrade to a new CPU or add a GPU at a later date without changing the motherboard. • - AM4 motherboard supported until 2020. 3) Vega GPU sales to Intel for 8th generation CPU’s with integrated graphics. • - AMD gains access to the complete desktop and mobile market through Intel.
4) Mobile Ryzen APU sales • -Providing gaming capability in a compact power envelope.
5) Ryzen and Threadripper sales • -Fabricated on 12nm in April. • -May eliminate Intel’s last remaining CPU advantage in IPC single core processing. • -AM4 motherboard supported until 2020. • -7nm Ryzen on track for early 2019. 6) Others: Vega, Polaris, Semi-custom, etc. • -I consider any positive developments here to be gravy. Conclusion While in the past Intel interfered with AMD's ability to bring it's products to market, the market has changed. The internet has grown significantly and is now a large market that dominates when in computer sales. It's questionable if Intel still has the influence to affect this new market, and doing so would most certainly result in fines and further bad press.
AMD's foundry problems were turned into an advantage over Intel.
AMD's more recent past was heavily influenced by the failure of the Bulldozer line of CPU's that dragged on AMD's bottom line from 2011 to 2017.
AMD's Zen line of CPU's is a breakthrough that exploits an alternative, superior strategy, in chip design which results in a smaller CPU. A smaller CPU enjoys compounded yield and quality advantages over Intel's CPU architecture. Intel's lead in CPU performance will at the very least be challenged and will more likely come to an end in 2018, until they release a redesigned CPU.
I previously targeted AMD to be worth $20 by the end of Q4 2017 ER. This was based on the speed that Intel was able to get products to market, in comparison AMD is much slower. I believe the stock should be there, but the GPU related story was prominent due to cryptocurrency craze. Financial analysts need more time to catch on to what’s happening with AMD, they need an ER that is driven by CPU sales. I believe that the Q1 2018 is the ER to do that. AMD had EPYC stock in stores when the Meltdown and Spectre flaws hit the news. These CPU’s were sold out by mid-January and are large margin sales.
There are many variables at play within the market, however barring any disruptions I’d expect that AMD will be worth $20 at some point in 2018 due these market drivers. If AMD sold enough EPYC CPU’s due to Intel’s ongoing CPU security problems, then it may occur following the ER in Q1 2018. However, if anything is customary with AMD, it’s that these things always take longer than expected.
submitted by kchia124 to AMD_Stock [link] [comments]

Ulord’s 8 Technical Advantages

Ulord’s 8 Technical Advantages
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In order to meet needs of Internet content distribution, the original chain of Ulord introduces master node system. The structure of master node is established as a peer-to-peer distributed content distribution network (InterPlanetary File System, IPFS), which provides massive cloud storage resource pool and unified global addressable space storage resource. Considering the sustainable development of Ulord, voting system and budget system are introduced. Voting system can not only carry out intelligent evaluation on a variety of applications on application layer, but also can assist budget system, fund more developers to devote themselves into Ulord development, and make the ecological development of Ulord in a virtuous circle with more applications. In other implementations, Ulord can be compatible with smart contract, make the application of Ethernet be transplanted to the Ulord network. Ulord adopts the mixed mining mechanism of POW and POS, so as to ensure that the development of the block network is not held by hashrate.

1.Master node system

The whole node refers to server or common PC running the full client on the P2P network, which plays a role of spread of transactions and blocks in the blockchain network. To maintain normal operation of all nodes, a large amount of cyber source needs to be consumed, such as storage space and network flow. According to Zap Chain Magazine statistics, the number of all nodes in the bitcoin network shows a decreasing trend, which requires additional 40 seconds for block broadcasting. The community has put forward many solutions, such as the introduction of new award plan of Microsoft Research and the Bitnodes incentive plan, and try to increase the number of nodes, but without good solution.

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In order to maintain a healthy and stable blockchain backbone network, Dashi puts forward the solution of hierarchical network. Through the introduction of master node system, the stable backbone network can form to solve communication delay. In the system of Dashi, 1000 nodes of dash can be stored and upgraded to the master node. If it can be stable online in a period of time, 45% of income of each block network will be taken. But now, the master node system of Dashi still has many problems in the design and implementation. Firstly, according to the design rules of Dashi, the total number of coin of the whole system is about 17 million, and approximately 8 million have been issued. While the number of the master node is maintained at about 4800. As each master node needs to have 1000 dashes as guarantee, nearly 5 million Dashi coins are locked in master node. The number of circulating Dashi coins in the market is less than 3 million, which is obviously contrary to the initial design theory of bitcoin, and cannot guarantee a sufficient currency circulation in the market. Secondly, in the design of master node, there is no discrimination or considering QoS, and master node service quality is uneven. Therefore the network communication cannot achieve the desired results. Finally, only users with some computer knowledge can build master node, not all people have such a foundation. To entrust the third party often brings the risk to assets, so it is necessary to let more people participate in the maintenance of the master node network. As shown in Figure 3, considering different application scenarios, Ulord makes further improvement and optimization to the master node system as follows:
Voting mechanism of master node is introduced to enhance Ulord service quality.
In order to encourage users to join in the master node construction, Ulord distributes 25% of the entire network benefits to master node holders. While QoS assessment mechanism is introduced, and under the principle of survival of the fittest, some master nodes which do not meet the requirements will be eliminated. Therefore master node users must continuously invest and maintain to ensure good condition of nodes. QoS assessment mechanism mainly considers from the following several aspects:
Data packet loss rate: packet loss rate between master node and adjacent nodes is judged by ping-pong operation. If it exceeds a certain threshold, the node state is judged not to meet the service requirements, and the master nodes list is eliminated.
Network communication delay: the delay between master node and adjacent nodes is judged by ping-pong operation. If it exceeds a certain threshold, the node states is judged to not meet the service requirements, and the master nodes list is eliminated.
Data retransmission number: when retransmission times of master node and adjacent user node are too high, the user node will broadcast it on the entire network. When the reported number of this master node reaches the threshold, the master nodes is eliminated from master node list.
Proof-of-Stake mechanism is introduced to provide IPFS service.
In order to meet distribution mechanism of Ulord network, a large number of nodes are needed to bear the Internet data, and provide more high-quality video and data flow service. In Ulord, it ensures the network storage service with high quality from two aspects. First, in the Ulord network, 1TB of hard drive storage space is needed as a qualification guarantee for master node; through distributed technology, Ulord can integrate these master nodes into a massive storage resource pool. Second, in order to confirm that each master node is actually stored with data, Proof-of-Stake mechanism is introduced. This mechanism can randomly carry out integrity verification to the master node data by data holding proving and data recovery proving to ensure that the master node can provide stable data storage service. The main factors of the nodes are as follows:
Storage capacity: according to storage capacity size, the income is calculated in proportion.
Storage value: according to storage data value, determine whether the platform effective data are stored, and determine whether to calculate the income;
Store IOPS: IOPS (Input/ Output Operations per Second), that is the number of read/write (I/O) operations per second, measures the performance of disk random access. According to disk performance, judge whether to calculate the income.
More general master node platform. Ulord will provide a better user experience for user, while bringing more high-quality storage and network server for the system itself. To attract more investors to participate in the construction of the master node network, we will develop master node client software across the platform, including windows/Linux/OS x/Android and other mainstream systems. For Linux system, Docker package image will be provided directly for users to install conveniently.

2. Sidechain

Sidechain is not specifically referring to a certain chain, but refers to any chain
that obeys the rules of the sidechain. The Ulord sidechain rule means that the Ulord sidechain can verify the data from the Ulord main chain, and through the Two-way Peg (2WP), the UlordToken is safely transferred between the mainchains and sidechains at a fixed exchange rate to achieve assets transfer between the chains.
The Two-way Peg is roughly divided into the following stages:
a. Send a 2WP transaction to lock the UlordToken in the main chain;
b. Wait for a confirmation period, making the transaction confirmed by enough
blocks;
c. Transfer the UlordToken to the sidechain and provide proof of SPV or
miner’s vote;
d. Wait for a reorganization period to prevent double spending;
e. Unlock the UlordToken for normal use on the sidechain;
After a period of time, if the user wants to redeem the UlordToken to the main chain, the reverse action can be performed. The redemption operation provides a sidechain user with an exit mechanism to prevent users from being forced to bind assets to unwanted sidechain applications.
Each sidechain can operate in different networks, with independent economic patterns and corresponding DAPPs. Developers can construct a sidechain and then dock it to the Ulord main chain. While inheriting and reusing the Ulord main chain technology, they also share the pressure of the Ulord main chain.
Each DAPP deployed on the sidechain is allowed to have a unique set of ledgers. According to different application scenarios of the DAPP, the sidechain’s consensus mechanism and block parameters are allowed to be reformed. And because the sidechain is an independent system, the serious problem of DAPP on the sidechain will only affect the sidechain itself and will not affect the Ulord main chain.
Ulord supports multiple sidechains, each of which can support one or more DAPPs. Sidechains can have their own virtual machines, publish smart contracts, and remain compatible with Ethereum virtual machines.

3. Voting system

Voting system has two major roles on Ulord. The first is to evaluate the plan proposed by developers and promote community contribution to Ulord; the second is to review resources and sites on Ulord to maintain the orderly development of Ulord ecology. If there are developers contributing to Ulord good solutions or codes, they can get system rewards. Whether to award and how much reward of developers contribution are decided by community vote. In addition, Ulord allows users to publish their own site, which may cause the problem that a large number of applications launch make the entire ecosystem in disorder and difficult to govern. In order to purify the network environment and make Ulord ecology a healthy development, consensus evaluation mechanism is introduced for Ulord network intelligent maintenance. The resources posted by user on Ulord have a unique 160bit hash value. All master nodes can vote the site resources issued by users on Ulord and show their position. When the number of opposing votes in a certain period of time exceeds threshold value, the network will automatically prohibit resource transmission, and give time to make publishers rectify. If there is no rectification in the specified time, Ulord will automatically delete it. There are three kinds of voting types: Yes, No and Abstain.

4 .Budget system

In order to promote the healthy development of Ulord ecosystem, Ulord prepares 10% of income for developers of the whole community. Ulord provides unified proposal entrance for community development. The community developers can submit the improvement proposal of Ulord through the entrance. The submitted proposal will be broadcast to Ulord, and sent to users in the form of message. All Ulord users have rights to vote. When the number of a proposal support exceeds a certain threshold value (the current system is set to 30%), the proposal will be approved. Then, the developer submitting the proposal will begin to accept budget system support. For the same proposal, users need to make voting twice. After the first voting, development team will receive budget support, but only 50% of the budget will be provided for developers. Only after developers complete and launch the second voting, the user can receive the remaining 50% of budget support.
In concrete implementation, a super block will be automatically generated in every 17000 blocks, and funding for the community developers can be achieved through this block. The number of coinbase coin of super block is the sum of the blocks between the previous super block and the current super block after deducting of 10% of income, then txout is the budget address passing the budget. If the current super block has no budget, the funds will be automatically stored in the pool of funds, which is used for the following plan budget support.

5.Smart contract

Unified domain name mechanism
Ulord allows the users to call the API of platform layer to publish their own site service. In order to make Ulord users to get convenient access to other users’ resources on the Ulord platform, the readable character string easy to remember can be used as domain name. Before the user releases the resource, by specifying the domain name site, he can apply for the readable domain name easy to remember. But there is a need to bind certain amount of UlordTokens. With the passage of time, the quantity of UlordTokens will be gradually consumed with increasing of block; in other words, all the resources and websites on Ulord will be gradually consumed with the increasing block height. All UlordTokens consumed for applying for a domain name will flow into the underlying network and become a part of the cost of billing.
To support the readable domain name system, we introduce a new data structure Domain Claimtrie to store all domain names and the associated information on Ulord. As shown in Figure 5, in Domain Claimtrie, each node corresponds to a domain name, at the same time, each node also holds the node’s related transaction information, including a transaction. When the user applies for the domain name, it must be bound with a certain number of UlordTokens; the new domain name is allowed for registration, which is unique in Ulord. The user is supported for cancellation of domain name. After the domain name is cancelled, the domain name is automatically released. To support the integrity of the domain name tree, we modify the block structure of blockchain and adds a field Domain Claimtrie.
Properties of smart contract
Ulord has attribute of smart contract, and introduces the design concept of gas. But Ethernet gas consumes gas in each operation. Compared to the gas concept of Ethernet, Ulord adopts a more simplified and abstract method. The resources and site posted on Ulord by user will consume resources on the Ulord network. Therefore when the user releases resources or site, a certain amount of UlordTokens is needed to bound. With growing of block height, UlordToken will be gradually consumed, and the user needs to recharge the new UlordTokens to the corresponding address to ensure the ownership of domain name. At the same time, through sidechain technology, it can be compatible with Ethernet virtual machine, release smart contract, and allow users to publish their tokens. There is a certain proportion of exchange relationship between tokens and UlordToken. Ulord allows users to customize their releasing of site service, and through the issuance of their tokens, they can operate their own sites.

6 .Consensus algorithm

Ulord combines PoW (Proof of Work) and PoS (Proof of Storage) as the consensus algorithm. Among them, PoW uses the self-designed CryptoHello algorithm. The algorithm uses multiple serial cryptographic primitive operation. With the characteristics of computer architecture, it has the mining characteristics of permanent prevention of ASIC. POS mechanism is to encourage more master nodes to join. By providing more storage space, it brings in revenue for their own, and provides massive distributed storage space for Ulord.
PoW implementation mechanism
To make full use of idle resources for mining, Ulord uses the CPU mining algorithm CryptoHello. We have learned from the memory-hard PoW algorithm design ideas, combined with the features of the CPU, GPU, ASIC and other architecture, and designed a PoW algorithm CryptHello for CPU architecture optimization.
The method has 3 steps:use a pseudo-random sequence to initialize the working memory, modify the working memory, and produce the final result based on the working memory contents. As shown in Figure 8
In the initialization of the working memory stage, the input is calculated using the SHA3 function to initialize the linear congruence pseudo-random number generator seed. The working memory is continuously filled in units of K blocks (32 bytes per block), where the former K-1 block is generated by a pseudo-random number generator, and the last block is a random selection of one of the hash function families (16 different hash functions) based on the previously filled content and updates the random number generator seed.
At the initial modification of the memory, the SHA3 function is used to generate the seed of the random number generator based on the last piece of the work memory, and a state variable whose length is L bytes is initialized. This is followed by C main cycles, in each of which 64L subcycles will be performed. In the subcycle, a pair of addresses will be generated by the random number generator. The byte data in the two addresses in the work memory and the byte data in the state vector are combined and exchanged using exclusive OR methods to update the memory contents and state vector contents. After the end of the sub-cycle, the function vector of the hash function family will be used to update the state vector and re-initialize the random number generator seed. According to the existing parameter design, one quarter of the working memory will be modified.
In the final result generation phase, the content of d (a random number no greater than D) blocks in the contiguous XOR memory is updated with the hash function family, and d is recalculated to the last block of the working memory. Finally the SHA3 function is used to form the final result.
The main features of the above algorithm include:
a. The working memory capacity selects the CPU-oriented cache capacity optimization, but it is difficult for the GPU or the ASIC to meet the memory capacity requirement for executing a large number of PoW algorithms at the same time;
b. A family of hash functions constructed by 16 hash functions is randomly selected and executed. This will increase the chip area to realize ASIC, and it will cause the GPU’s multi-threaded execution of different paths, reducing its parallelization efficiency;
c. Strict serial execution sequence are used during the working memory modification stage, and they are accessed in units of bytes to control the execution parallelism of the ASIC or GPU and significantly reduce the memory system efficiency;
d. The control logic of the entire scheme is complex, the required memory capacity is large, and the memory access address is irregular. It is difficult to implement the ASIC by using a conventional method of stacking a large number of acceleration component modules.
The actual test shows that the above performance of PoW on the CPU is proportional to its number of cores.
PoS implementation mechanism
The main reason for collapse of bitcoin network node is lack of reward for running nodes. With the passage of time, more and more users will be connected to the whole network, so demand for bandwidth will become higher, demand for funds from node operator will be more, then the operation cost of the nodes increase. Considering rising cost, node operator must reduce their operating costs or operation light client, but this is not conducive to network health. The introduction of the master node technology can effectively avoid reduction of master node and prolong communication time. In Ulord, QoS is considered in the selection of master node, and master node is a full node. Block and trading can spread quickly through master node. Operation of a master node needs 10000 UlordTokens and more than 1TB of storage space. The deposit stored in the master node is not lost, which allows investor to earn certain return on investment when providing service for the whole net to reduce the UlordToken price volatility. In the Ulord network, the master node will account for 25% of the entire network revenue.

7. Privacy protection

Ulord uses the most popular privacy protection zk-SNARK technology to protect the trading privacy. In Ulord blockchain, to create a valid transaction includes the following three things:
a. Ensure that the currency in the address has not been spent in previous trading;
b. The sender proves that he is the currency “holder” in the way of authorized signature;
c. The transaction input is equal to output.
The ledger itself proves the money is not spent out before and does not require sender to do anything. The sender only proves that he is holder of the currency, and hopes to send out the currency in the way of electronic signature through the private key corresponding to address. To make the signature verified, the sender’s address must be open. Correspondingly, receiver must publicly accept his address to finish the transaction. In Ulord, it is simple to verify that the input and output of the transaction are equal, because the number of transmission is completely exposed.
Zero knowledge proof (specifically, zk-SNARKs) to verify the above three elements can protect privacy of users from revealing, without exposing sender, receiver and transferring amount. Every successful transaction is accompanied with zk-SNARK, and it proves that: the input asset exists, and has not been previously spent. The person who creates the transaction authorizes the transaction cost, and the input number and type are equal to the output number and type. The information for cost output (that is to create a new zk-SNARK) is attached to the transaction. It is encrypted with the public key of payee, and only used for the payee.
Figure 11 zk-SNARK technology protects transaction privacy
8.Instant payment
With the master node technology, the users can send and receive instant irreversible transaction. Once the instant transaction forms, the input of transaction is locked to the corresponding particular transaction, currently, the locking time of the whole net transaction is about 4 seconds. If a locking consensus is reached in the master node network, all transactions and blocks against it will always be refused, unless they can match the corresponding transaction ID which was locked at that time.
In this way, users can purchase goods and services through Ulord and receive payment confirmation quickly, without intervention from any centralized organization. Ulord can easily meet relevant business scenarios for instant payment.
submitted by ulordchain to u/ulordchain [link] [comments]

Anyone else get a spammy Ethereum promotion in PM?

This is getting ridiculous. This came from duncanlandry
Text quoted in full below.
I am sending you this message because the crypto community is too heavily censored, please read carefully.
The original of idea bitcoin is to create a decentralized money system that prevents censorship and being shutdown. Proof of work seemed like a good way to achieve that. The real power in the bitcoin world is helt by the miners, as long as the mining process is properly decentralized bitcoin will be decentralized. But real world competition caused many cracks to appear in this model, the first flaws that appeared were pooled mining (centralizing power with mining operators), then came ASICs (Centralizing power with mining operators with good industry connections), then came cheap electricity + latency issues (Centralizing power with mining pools with access to cheap electicity and low latency to others big mining pools). These pressures has essentially caused mining to be centalized mainly in China because there they have cheap electricity, good industry for creating ASICs and low latency to other chinese mining pools (and high latency to the rest of the world).
One important thing to keep in mind is that bitcoin itself can evade capital controls and move seamlessly accross borders. But mining equipment cannot. It would be easy to confiscate all mining equipment in the country and use it to destroy bitcoin.
So what is the solution to this problem? Proof of stake is the solution because it removed the physical element and allows network voting power to move seamlessly accross borders too. Traditional Proof of Stake contains some flaws like the Nothing at Stake problem. But the new algorithm designed for proof of stake in Ethereum solved all these issues.
The bitcoin developer community has proven that it is unable to make even small changed to the consesus algorithm. So completely switching to a different model is never going to happen.
If you are willing to open your mind and learn about how Ethereum will beat bitcoin by being far superior to bitcoin watch the videos of Devcon1
Bitcoin is doomed and Ethereum will replace it.
Obviously most people involved in Ethereum are aware of this. But for most other people it is not so obvious. But it is hard to convince the masses because they are not reading enough information about Ethereum, either because of censorship in subs or because of denial.
Therefore I think it is the mission of each of us to get the word out. Only by saying it often and giving clear examples we can teach the masses what we already know. Try to reach at least on uninformed person every day. (If you lack ideas, just post the link to this post in different reddit subs with target audience).
First of all it is important to remind people that Bitcoin was also once small, and that people also did not believe in Bitcoin because they couldn't imagine what benefit it would give over conventional payment systems. That perception changed dramatically for bitcoin and the same will happen to Ethereum. It is important to emphasise this because people often use the psychological principle of Social Proof to make decisions in unknown situations, this is currently working against Ethereum, the underlying reasoning is, "If Ethereum is so great why is it so cheap?", "If Ethereum is so great why is everyone talking about Bitcoin?", "If Ethereum is so great, why are the smart people X, Y and Z not invested in it?".
Second of all it is important to emphasise that not only is Ethereum a crypto that offers a whole new concept of the decentralized web, it is also better than Bitcoin at being a currency for payments. This is easy to show by explaining a real world scenario. Imagine the perfect crypto currency, obviously it should be possible to re-implement the most convenient payment systems used today using that crypto currency, and doing so in a decentralized way, with no added fees or middle man. It should be able to behave very much like cash in being able to spend it quick and easy. The most similar electronic product that offers this is the anonymous tap to pay, prepaid payment card. It is easy, it is anonymous, it wont be hacked like phones, it has the ability to limit exposure to compromise by having limited balance that automatically recharged and the end of the day. Implementing this in Bitcoin would not be possible because the small chip in the card is not connected to the internet, and sharing your private key is a security hazard. But what if your wallet/contract could use asymmetric encryption to accept a different secret payment key on every payment. This way it is possible to implement the payment with a touch to pay card in a secure way. In Ethereum it is also possible to program a contract to recharge a wallet at the end of every day for added security, It is also possible to automatically exchange Ethereum for a token that is backed by a stable currency for those merchants that are worried about exchange fluctuations.
Third of all it is important to note that Bitcoin is never going to be implementing these changes. Look how hard it is for them to implement a blocksize increase. Changing the scripting language to Turing complete would be a far more controversial change. One that the miners will probably never agree to this. And also keep in mind that quick payments need either zero-confirmation transactions or fast blocktime.
So if Ethereum has the potential to implement the most convenient payment system imaginable but Bitcoin cannot then one can only conclude that Ethereum will win in the long run. Bitcoin will die like Myspace, and Ethereum will become the golden standard.
submitted by trrrrouble to ethereum [link] [comments]

Desperate and clumsy Ethereum pump spam

Anyone else getting these from fresh (1 hour - 1 day) accounts with no posts? I've got 3 messages across different accounts. Whis is what a Reddit equivalent of a Jehovah's Witness knocking on your door looks like.
The original of idea bitcoin is to create a decentralized money system that prevents censorship and being shutdown. Proof of work seemed like a good way to achieve that. The real power in the bitcoin world is helt by the miners, as long as the mining process is properly decentralized bitcoin will be decentralized. But real world competition caused many cracks to appear in this model, the first flaws that appeared were pooled mining (centralizing power with mining operators), then came ASICs (Centralizing power with mining operators with good industry connections), then came cheap electricity + latency issues (Centralizing power with mining pools with access to cheap electicity and low latency to others big mining pools). These pressures has essentially caused mining to be centalized mainly in China because there they have cheap electricity, good industry for creating ASICs and low latency to other chinese mining pools (and high latency to the rest of the world).
One important thing to keep in mind is that bitcoin itself can evade capital controls and move seamlessly accross borders. But mining equipment cannot. It would be easy to confiscate all mining equipment in the country and use it to destroy bitcoin.
So what is the solution to this problem? Proof of stake is the solution because it removed the physical element and allows network voting power to move seamlessly accross borders too. Traditional Proof of Stake contains some flaws like the Nothing at Stake problem. But the new algorithm designed for proof of stake in Ethereum solved all these issues.
The bitcoin developer community has proven that it is unable to make even small changed to the consesus algorithm. So completely switching to a different model is never going to happen.
If you are willing to open your mind and learn about how Ethereum will beat bitcoin by being far superior to bitcoin watch the videos of Devcon1
Bitcoin is doomed and Ethereum will replace it.
The second variant of spam is the above wall of text plus this new wall of text:
Obviously most people involved in Ethereum are aware of this. But for most other people it is not so obvious. But it is hard to convince the masses because they are not reading enough information about Ethereum, either because of censorship in subs or because of denial.
Therefore I think it is the mission of each of us to get the word out. Only by saying it often and giving clear examples we can teach the masses what we already know. Try to reach at least on uninformed person every day. (If you lack ideas, just post the link to this post in different reddit subs with target audience). First of all it is important to remind people that Bitcoin was also once small, and that people also did not believe in Bitcoin because they couldn't imagine what benefit it would give over conventional payment systems. That perception changed dramatically for bitcoin and the same will happen to Ethereum. It is important to emphasise this because people often use the psychological principle of Social Proof to make decisions in unknown situations, this is currently working against Ethereum, the underlying reasoning is, "If Ethereum is so great why is it so cheap?", "If Ethereum is so great why is everyone talking about Bitcoin?", "If Ethereum is so great, why are the smart people X, Y and Z not invested in it?".
Second of all it is important to emphasise that not only is Ethereum a crypto that offers a whole new concept of the decentralized web, it is also better than Bitcoin at being a currency for payments. This is easy to show by explaining a real world scenario. Imagine the perfect crypto currency, obviously it should be possible to re-implement the most convenient payment systems used today using that crypto currency, and doing so in a decentralized way, with no added fees or middle man. It should be able to behave very much like cash in being able to spend it quick and easy. The most similar electronic product that offers this is the anonymous tap to pay, prepaid payment card. It is easy, it is anonymous, it wont be hacked like phones, it has the ability to limit exposure to compromise by having limited balance that automatically recharged and the end of the day. Implementing this in Bitcoin would not be possible because the small chip in the card is not connected to the internet, and sharing your private key is a security hazard. But what if your wallet/contract could use asymmetric encryption to accept a different secret payment key on every payment. This way it is possible to implement the payment with a touch to pay card in a secure way. In Ethereum it is also possible to program a contract to recharge a wallet at the end of every day for added security, It is also possible to automatically exchange Ethereum for a token that is backed by a stable currency for those merchants that are worried about exchange fluctuations.
Third of all it is important to note that Bitcoin is never going to be implementing these changes. Look how hard it is for them to implement a blocksize increase. Changing the scripting language to Turing complete would be a far more controversial change. One that the miners will probably never agree to this. And also keep in mind that quick payments need either zero-confirmation transactions or fast blocktime.
So if Ethereum has the potential to implement the most convenient payment system imaginable but Bitcoin cannot then one can only conclude that Ethereum will win in the long run. Bitcoin will die like Myspace, and Ethereum will become the golden standard.
Another one has a very simple form
Hello, I saw your post the bitcoin reddit, what is your opinion on
https://www.reddit.com/ethereum/comments/40in7i/the_ugly_truth_bitcoin_is_doomed_and_needs_to_be/
The linked thread indicates they have like dozens of accounts to just send creepy PMs to people, which is the saddest pump I've seen so far.
submitted by federal_reserve_cock to Buttcoin [link] [comments]

More spam about ether?

Received this spam... Is ether really trying to shotgun therapy itself down everyone's throat? Like what the hell is this crap coin trying to do? Is it really having a positive effect for the coin? Please don't read the whole thing lol I read 8 words. I assume everyone got this message?
Hello from marsdendoreen sent 11 hours ago I am sending you this message because the crypto community is too heavily censored, please read carefully. The original of idea bitcoin is to create a decentralized money system that prevents censorship and being shutdown. Proof of work seemed like a good way to achieve that. The real power in the bitcoin world is helt by the miners, as long as the mining process is properly decentralized bitcoin will be decentralized. But real world competition caused many cracks to appear in this model, the first flaws that appeared were pooled mining (centralizing power with mining operators), then came ASICs (Centralizing power with mining operators with good industry connections), then came cheap electricity + latency issues (Centralizing power with mining pools with access to cheap electicity and low latency to others big mining pools). These pressures has essentially caused mining to be centalized mainly in China because there they have cheap electricity, good industry for creating ASICs and low latency to other chinese mining pools (and high latency to the rest of the world). One important thing to keep in mind is that bitcoin itself can evade capital controls and move seamlessly accross borders. But mining equipment cannot. It would be easy to confiscate all mining equipment in the country and use it to destroy bitcoin. So what is the solution to this problem? Proof of stake is the solution because it removed the physical element and allows network voting power to move seamlessly accross borders too. Traditional Proof of Stake contains some flaws like the Nothing at Stake problem. But the new algorithm designed for proof of stake in Ethereum solved all these issues. The bitcoin developer community has proven that it is unable to make even small changed to the consesus algorithm. So completely switching to a different model is never going to happen. If you are willing to open your mind and learn about how Ethereum will beat bitcoin by being far superior to bitcoin watch the videos of Devcon1 Bitcoin is doomed and Ethereum will replace it. Obviously most people involved in Ethereum are aware of this. But for most other people it is not so obvious. But it is hard to convince the masses because they are not reading enough information about Ethereum, either because of censorship in subs or because of denial. Therefore I think it is the mission of each of us to get the word out. Only by saying it often and giving clear examples we can teach the masses what we already know. Try to reach at least on uninformed person every day. (If you lack ideas, just post the link to this post in different reddit subs with target audience). First of all it is important to remind people that Bitcoin was also once small, and that people also did not believe in Bitcoin because they couldn't imagine what benefit it would give over conventional payment systems. That perception changed dramatically for bitcoin and the same will happen to Ethereum. It is important to emphasise this because people often use the psychological principle of Social Proof to make decisions in unknown situations, this is currently working against Ethereum, the underlying reasoning is, "If Ethereum is so great why is it so cheap?", "If Ethereum is so great why is everyone talking about Bitcoin?", "If Ethereum is so great, why are the smart people X, Y and Z not invested in it?". Second of all it is important to emphasise that not only is Ethereum a crypto that offers a whole new concept of the decentralized web, it is also better than Bitcoin at being a currency for payments. This is easy to show by explaining a real world scenario. Imagine the perfect crypto currency, obviously it should be possible to re-implement the most convenient payment systems used today using that crypto currency, and doing so in a decentralized way, with no added fees or middle man. It should be able to behave very much like cash in being able to spend it quick and easy. The most similar electronic product that offers this is the anonymous tap to pay, prepaid payment card. It is easy, it is anonymous, it wont be hacked like phones, it has the ability to limit exposure to compromise by having limited balance that automatically recharged and the end of the day. Implementing this in Bitcoin would not be possible because the small chip in the card is not connected to the internet, and sharing your private key is a security hazard. But what if your wallet/contract could use asymmetric encryption to accept a different secret payment key on every payment. This way it is possible to implement the payment with a touch to pay card in a secure way. In Ethereum it is also possible to program a contract to recharge a wallet at the end of every day for added security, It is also possible to automatically exchange Ethereum for a token that is backed by a stable currency for those merchants that are worried about exchange fluctuations. Third of all it is important to note that Bitcoin is never going to be implementing these changes. Look how hard it is for them to implement a blocksize increase. Changing the scripting language to Turing complete would be a far more controversial change. One that the miners will probably never agree to this. And also keep in mind that quick payments need either zero-confirmation transactions or fast blocktime. So if Ethereum has the potential to implement the most convenient payment system imaginable but Bitcoin cannot then one can only conclude that Ethereum will win in the long run. Bitcoin will die like Myspace, and Ethereum will become the golden standard.
submitted by tmzn32 to Bitcoin [link] [comments]

Etherium Spam Anyone else get this?

Here is the message, quite the trolling:
I am sending you this message because the crypto community is too heavily censored, please read carefully.
The original of idea bitcoin is to create a decentralized money system that prevents censorship and being shutdown. Proof of work seemed like a good way to achieve that. The real power in the bitcoin world is helt by the miners, as long as the mining process is properly decentralized bitcoin will be decentralized. But real world competition caused many cracks to appear in this model, the first flaws that appeared were pooled mining (centralizing power with mining operators), then came ASICs (Centralizing power with mining operators with good industry connections), then came cheap electricity + latency issues (Centralizing power with mining pools with access to cheap electicity and low latency to others big mining pools). These pressures has essentially caused mining to be centalized mainly in China because there they have cheap electricity, good industry for creating ASICs and low latency to other chinese mining pools (and high latency to the rest of the world).
One important thing to keep in mind is that bitcoin itself can evade capital controls and move seamlessly accross borders. But mining equipment cannot. It would be easy to confiscate all mining equipment in the country and use it to destroy bitcoin.
So what is the solution to this problem? Proof of stake is the solution because it removed the physical element and allows network voting power to move seamlessly accross borders too. Traditional Proof of Stake contains some flaws like the Nothing at Stake problem. But the new algorithm designed for proof of stake in Ethereum solved all these issues.
The bitcoin developer community has proven that it is unable to make even small changed to the consesus algorithm. So completely switching to a different model is never going to happen.
If you are willing to open your mind and learn about how Ethereum will beat bitcoin by being far superior to bitcoin watch the videos of Devcon1
Bitcoin is doomed and Ethereum will replace it.
Obviously most people involved in Ethereum are aware of this. But for most other people it is not so obvious. But it is hard to convince the masses because they are not reading enough information about Ethereum, either because of censorship in subs or because of denial.
Therefore I think it is the mission of each of us to get the word out. Only by saying it often and giving clear examples we can teach the masses what we already know. Try to reach at least on uninformed person every day. (If you lack ideas, just post the link to this post in different reddit subs with target audience).
First of all it is important to remind people that Bitcoin was also once small, and that people also did not believe in Bitcoin because they couldn't imagine what benefit it would give over conventional payment systems. That perception changed dramatically for bitcoin and the same will happen to Ethereum. It is important to emphasise this because people often use the psychological principle of Social Proof to make decisions in unknown situations, this is currently working against Ethereum, the underlying reasoning is, "If Ethereum is so great why is it so cheap?", "If Ethereum is so great why is everyone talking about Bitcoin?", "If Ethereum is so great, why are the smart people X, Y and Z not invested in it?".
Second of all it is important to emphasise that not only is Ethereum a crypto that offers a whole new concept of the decentralized web, it is also better than Bitcoin at being a currency for payments. This is easy to show by explaining a real world scenario. Imagine the perfect crypto currency, obviously it should be possible to re-implement the most convenient payment systems used today using that crypto currency, and doing so in a decentralized way, with no added fees or middle man. It should be able to behave very much like cash in being able to spend it quick and easy. The most similar electronic product that offers this is the anonymous tap to pay, prepaid payment card. It is easy, it is anonymous, it wont be hacked like phones, it has the ability to limit exposure to compromise by having limited balance that automatically recharged and the end of the day. Implementing this in Bitcoin would not be possible because the small chip in the card is not connected to the internet, and sharing your private key is a security hazard. But what if your wallet/contract could use asymmetric encryption to accept a different secret payment key on every payment. This way it is possible to implement the payment with a touch to pay card in a secure way. In Ethereum it is also possible to program a contract to recharge a wallet at the end of every day for added security, It is also possible to automatically exchange Ethereum for a token that is backed by a stable currency for those merchants that are worried about exchange fluctuations.
Third of all it is important to note that Bitcoin is never going to be implementing these changes. Look how hard it is for them to implement a blocksize increase. Changing the scripting language to Turing complete would be a far more controversial change. One that the miners will probably never agree to this. And also keep in mind that quick payments need either zero-confirmation transactions or fast blocktime.
So if Ethereum has the potential to implement the most convenient payment system imaginable but Bitcoin cannot then one can only conclude that Ethereum will win in the long run. Bitcoin will die like Myspace, and Ethereum will become the golden standard.
submitted by driedapricots to btc [link] [comments]

I am going to design an Async ASIC chip for a class project.

Background:
I am enrolled in a VLSI course at a university. At the end of this class we will be manufacturing and testing our very own IC design.
Part of the class is a 5 week, four person team project that is entirely open ended. We have coordinated with a professor who specializes in asynchronous design, and we are planning on making an asynchronous ASIC bitcoin miner. I do not expect to be competitive in the bitcoin mining feild, we are designing this chip as a class project to demonstrate our ability in VLSI design. This is a 600nm process, which is seriously like 1990's technology. This will not be a particularly fast chip, but it might be a little bit faster than a standard CPU if and only if we can implement the SHA algorithm in hardware well enough.
Question:
I know relatively little about bitcoin, I have been subbed here for about three weeks and I have read the wikipedia page on Bitcoin and on the SHA-2 algorithm. I am looking for website resources that explain hardware implementations of SHA-256. I was wondering if anybody could point me towards helpful pages. Additionally, I was wondering if you could provide any other good website resources as starting points for bitcoin mining information, including specific information about the bitcoin mining protocol. When I search I find a lot of forum debates, but no real information. Are there any websites that explain this sort of thing that are common in the bitcoin community? Should I be turning to research papers at my university library to find this?
Specifically, I know we need to implement SHA-256 as part of the bitcoin algorithm. In an 'ASIC' rig, does the SHA-256 hardware exist as a co-processor to a general purpose CPU, or does the ASIC chip directly implement the entire algorithm. Basically, I am completely unaware of the cpu architecture required to implement bitcoin mining, yet that is what I have set out to do, because general purpose CPU's are easy...(ish)... If it is simply a matter of understanding SHA-256 algorithm and implementing my own architecture that is okay but I would rather not reinvent the wheel if I do not have to. An open source verilog FPGA implementation would be a great starting point.
Thanks for your pointers.
submitted by reParaoh to BitcoinMining [link] [comments]

Getting PMs about topics involving Ethereum after posting one comment on here after months

I'm not sure what's happening, but I've gotten PMs from 3 seperate users who I'm sure are all the same person, yazhinancsi , addokermit , and nasihmaura who I'm sure are all fake accounts meant for spamming this as they are new accounts with no posts. The messages are as follows:
from yazhinancsi sent 5 days ago
I saw your post in the bitcoin reddit can you give me your thoughts about this topic: http://reddit.com/413igi .

from addokermit sent 5 days ago
I am sending you this message because the crypto community is too heavily censored, please read carefully. The original of idea bitcoin is to create a decentralized money system that prevents censorship and being shutdown. Proof of work seemed like a good way to achieve that. The real power in the bitcoin world is helt by the miners, as long as the mining process is properly decentralized bitcoin will be decentralized. But real world competition caused many cracks to appear in this model, the first flaws that appeared were pooled mining (centralizing power with mining operators), then came ASICs (Centralizing power with mining operators with good industry connections), then came cheap electricity + latency issues (Centralizing power with mining pools with access to cheap electicity and low latency to others big mining pools). These pressures has essentially caused mining to be centalized mainly in China because there they have cheap electricity, good industry for creating ASICs and low latency to other chinese mining pools (and high latency to the rest of the world). One important thing to keep in mind is that bitcoin itself can evade capital controls and move seamlessly accross borders. But mining equipment cannot. It would be easy to confiscate all mining equipment in the country and use it to destroy bitcoin. So what is the solution to this problem? Proof of stake is the solution because it removed the physical element and allows network voting power to move seamlessly accross borders too. Traditional Proof of Stake contains some flaws like the Nothing at Stake problem. But the new algorithm designed for proof of stake in Ethereum solved all these issues. The bitcoin developer community has proven that it is unable to make even small changed to the consesus algorithm. So completely switching to a different model is never going to happen. If you are willing to open your mind and learn about how Ethereum will beat bitcoin by being far superior to bitcoin watch the videos of Devcon1 Bitcoin is doomed and Ethereum will replace it. Obviously most people involved in Ethereum are aware of this. But for most other people it is not so obvious. But it is hard to convince the masses because they are not reading enough information about Ethereum, either because of censorship in subs or because of denial. Therefore I think it is the mission of each of us to get the word out. Only by saying it often and giving clear examples we can teach the masses what we already know. Try to reach at least on uninformed person every day. (If you lack ideas, just post the link to this post in different reddit subs with target audience). First of all it is important to remind people that Bitcoin was also once small, and that people also did not believe in Bitcoin because they couldn't imagine what benefit it would give over conventional payment systems. That perception changed dramatically for bitcoin and the same will happen to Ethereum. It is important to emphasise this because people often use the psychological principle of Social Proof to make decisions in unknown situations, this is currently working against Ethereum, the underlying reasoning is, "If Ethereum is so great why is it so cheap?", "If Ethereum is so great why is everyone talking about Bitcoin?", "If Ethereum is so great, why are the smart people X, Y and Z not invested in it?". Second of all it is important to emphasise that not only is Ethereum a crypto that offers a whole new concept of the decentralized web, it is also better than Bitcoin at being a currency for payments. This is easy to show by explaining a real world scenario. Imagine the perfect crypto currency, obviously it should be possible to re-implement the most convenient payment systems used today using that crypto currency, and doing so in a decentralized way, with no added fees or middle man. It should be able to behave very much like cash in being able to spend it quick and easy. The most similar electronic product that offers this is the anonymous tap to pay, prepaid payment card. It is easy, it is anonymous, it wont be hacked like phones, it has the ability to limit exposure to compromise by having limited balance that automatically recharged and the end of the day. Implementing this in Bitcoin would not be possible because the small chip in the card is not connected to the internet, and sharing your private key is a security hazard. But what if your wallet/contract could use asymmetric encryption to accept a different secret payment key on every payment. This way it is possible to implement the payment with a touch to pay card in a secure way. In Ethereum it is also possible to program a contract to recharge a wallet at the end of every day for added security, It is also possible to automatically exchange Ethereum for a token that is backed by a stable currency for those merchants that are worried about exchange fluctuations. Third of all it is important to note that Bitcoin is never going to be implementing these changes. Look how hard it is for them to implement a blocksize increase. Changing the scripting language to Turing complete would be a far more controversial change. One that the miners will probably never agree to this. And also keep in mind that quick payments need either zero-confirmation transactions or fast blocktime. So if Ethereum has the potential to implement the most convenient payment system imaginable but Bitcoin cannot then one can only conclude that Ethereum will win in the long run. Bitcoin will die like Myspace, and Ethereum will become the golden standard.

from nasihmaura sent 19 minutes ago
https://www.reddit.com/3fkyt2
submitted by karthus25 to Bitcoin [link] [comments]

[TUTORIAL] HEX16A ASIC Bitcoin Miner W7 Samsung Confirms Making ASIC Chips For Mining Crypto Bitfury 16nm ASIC Demo - Part 3 of 3 Soldering a Bitfury ASIC QFN / MLF chip to a 4 layer quikfury bitcoin mining PCB Alpha Technology Scrypt ASIC Chip POC Video

At Consensus 2018, many blockchain software developers viewed Bitmain’s recent launch of their newest Application Specific Integrated Circuit (ASIC) miners as proof of the impending future for all cryptocurrencies.ASIC hardware will soon hit the markets for previously deemed ASIC-resistant cryptocurrencies such as Ethereum, Monero, and Zcash. For RandomX, I see two possible options how an efficient ASIC might look like: A single-chip design with lots of SRAM, similar to the GRIN ASIC. It would run in the "light" mode with the 256 MiB cache entirely on-die. A multi-chip design with HBM2 memory. It would run in the "full" mode with the 2 GiB dataset and run thousands of concurrent ... Application-specific integrated circuits (ASICs) are customized pieces of computer hardware that are designed solely to perform one specific function. For example, the telephone circuitry in your smartphone is often stored on a separate chip dedicated to making and receiving calls—in other words, an ASIC. Asic Chip. top 15 asic Chip. 20 Brand New Avalon A3255 Q48 asic Chip Diy Bitcoin Miner Top 15 asic Chip- SiFive types business Unit to build Chips With RISC-V and Arm inner SiFive, a Silicon Valley startup, is retooling its custom chip design division because it looks to problem Arm’s dominance in the chip enterprise with RISC-V know-how and ... The 18.2 mm x 18.2 mm chip was, at least at the time, the largest design that the IBM ASIC division had targeted for SA-27E. Each tile contains computing power equivalent to a single-issue pipelined processor. A supercomputer prototype, based on 4-chip boards, that scaled to 64 Raw chips (1024-issue) was constructed. More pictures are available ...

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[TUTORIAL] HEX16A ASIC Bitcoin Miner W7

Both of these 2019 new bitcoin and bitcoin cash miners will be using the newest and most efficient 7nm chip the BM1397 7nm ASIC bitcoin mining hardware. ... customised the chip design to optimise ... Crypto Mining with GPU + CPU Tutorial - Get the Most Profit From Your Computer - Duration: 21:30. Goose-Tech 17,697 views This is the last video of our 3 video series about our new 16nm Bitcoin Mining ASIC. In this video we demonstrate the performance in immersion cooling. This is the second video of our 3 video series about our new 16nm Bitcoin Mining ASIC. In this video we demonstrate the high power performance of the chip with the help of a heat sink. The world's first scrype ASIC miner from DualMiner (Greedseed chips). Mining at 70kh/s or 40kh/s if mining alongside sha-256 (btc, nmc...) DualMiner: http://...

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