In a Sept. 21 blog post, the Solana Foundation stated that bots swhattomine ethereum classic calculatorpammed the network as Grape launched its IDO on the Solana-based decentralized exchange (DEX) Raydium at 12:00 UTC last Tuesday.
The mined block will be broadcast to the network to receive confirmations, which take another hour or so, though occasionally much longer, to process. (Again, this description is simplified. Blocks are not hashed in their entirety but broken up into more efficient structures called Merkle trees.)xapo bitcoin kaufenDepending on the kind of traffic the network is receiving, Bitcoin's protocol will require a longer or shorter string of zeroes, adjusting the difficulty to hit a rate of one new block every 10 minutes. As of October 2019, the current difficulty is around 6.379 trillion, up from 1 in 2009. As this suggests, it has become significantly more difficult to mine Bitcoin since the cryptocurrency launched a decade ago.
Mining is intensive, requiring big, expensive rigs and a lot of electricity to power them. And it's competitive. There's no telling what nonce will work, so the goal is to plow through them as quickly as possible.Early on, miners recognized that they could improve their chances of success by combining into mining pools, sharing computing power, and divvying the rewards up among themselves. Even when multiple miners split these rewards, there is still ample incentive to pursue them. Every time a new block is mined, the successful miner receives a bunch of newly created bitcoins. At first, it was 50, but then it halved to 25, and now it is 12.5 (about $119,000 in October 2019).The reward will continue to halve every 210,000 blocks, or about every four years, until it hits zero. At that point, all 21 million bitcoins will have been mined, and miners will depend solely on fees to maintain the network. When Bitcoin was launched, it was planned that the total supply of the cryptocurrency would be 21 million tokens.The fact that miners have organized themselves into pools worries some. If a pool exceeds 50% of the network's mining power, its members could potentially spend coins, reverse the transactions, and spend them again. They could also block others' transactions. Simply put, this pool of miners would have the power to overwhelm the distributed nature of the system, verifying fraudulent transactions by virtue of the majority power it would hold.That could spell the end of Bitcoin, but even a so-called 51% attack would probably not enable the bad actors to reverse old transactions because the proof of work requirement makes that process so labor-intensive. To go back and alter the blockchain, a pool would need to control such a large majority of the network that it would probably be pointless. When you control the whole currency, with whom can you trade?
A 51% attack is a financially suicidal proposition from the miners' perspective. When GHash.io, a mining pool, reached 51% of the network's computing power in 2014, it voluntarily promised to not exceed 39.99% of the Bitcoin hash rate in order to maintain confidence in the cryptocurrency's value. Other actors, such as governments, might find the idea of such an attack interesting, though. But again, the sheer size of Bitcoin's network would make this overwhelmingly expensive, even for a world power.Another source of concern related to miners is the practical tendency to concentrate in parts of the world where electricity is cheap, such as China, or, following a Chinese crackdown in early 2018, Quebec.Opera, an EVM compatible mainnet, was launched in December 2019. Fantom is a third-generation blockchain (as are Cardano, Solana, and Polkadot). It seeks to challenge the incumbent centralized, legacy financial network by learning from and improving the architecture used by first and second-generation blockchains such as Bitcoin and Ethereum.
Fantom differs from Cardano and Solana in that it directly builds on top of what has already been built for Ethereum.Fantom is marketed as a cheaper, more scalable version of Ethereum. It uses an Asynchronous Byzantine Fault Tolerant (aBFT) Proof-of-Stake (PoS) consensus mechanism called Lachesis. Lachesis uses a Directed Acyclic Graph (DAG) model that is leaderless, unlike the Delegated Proof of Stake consensus model used on other EVM chains like the Binance Smart Chain.The model allows for network data to be processed at different times with the network also capable of tolerating up to one-third of its participants engaging in faulty or malicious behavior without network processes being affected. Lachesis aims to balance fast transaction speed with good security.Each network node on Lachesis contains its own DAG. They each record the chronology of event blocks and respective transactions. Each node achieves consensus independently from the rest of the network. Confirmed batches of event blocks are then compiled into finalized blocks that are later confirmed by the wider Fantom network.
Nodes on the Fantom network do communicate with each other occasionally about some transaction but there is no network-wide consensus that needs to be achieved on finalized blocks or to confirm the state of the network, unlike operations on proof-of-work networks. This architecture is the reason why Fantom is able to process transactions so quickly.Fantom is a three-layer blockchain. The first layer is the Opera Core Layer, its function is to maintain consensus through the nodes. This is the DAG layer of Fantom and this is the means by which different transactions across the network can be confirmed simultaneously.
The middle layer of the protocol executes functions on the network. It issues rewards and payments and manages the ‘story data’ of the network. The story data tracks the past transactions of the network.The final layer is the application layer. This layer maintains the public APIs that enable Dapp developers on Fantom to interact with their Dapps.Fantom has noted that there are some advantages to building on Fantom directly as opposed to porting Dapps from Ethereum onto Fantom. One of these is the ‘story data’ feature of the protocol layer that allows for the tracking of past transactions on the network.The project’s backers
In May 2019, Fantom announced that it would be partnering with the Binance Smart Chain to improve its interoperability by launching a multi-asset, cross chain interoperability project. The multi asset initiative was meant to bring in new token standards, which would include Fantom versions of Ethereum’s ERC20 standard and the Binance Smart Chain’s BEP20. Interoperability has always been a key focus of the project and this continued with the launch of Opera and Ethereum style apps.Fantom has big name VC backers like Sam Bankman-Fried’s Alameda Research, Arrington XRP Capital and BlockTower Capital. Its advisors include Andre Cronje, one of DeFi’s most notable developers. He has played a key role in building Ethereum-esque DeFi solutions for Fantom.The TokenThe FTM token is the native token of the Fantom network. It secures the network, and it is the primary network token used for payments and to assign governance rights.
Fantom is a proof-of-stake network where validators are assigned work on the blockchain, and the ability to earn rewards, in proportion to their holdings of the network digital asset. Fantom validator nodes must hold a min of 3,175,000 FTM to participate while stakers are to assign their tokens to a staking pool that earns rewards on their behalf. The minimum for a staker is 1 FTM. Nodes and stakers are assigned rewards regularly for their services to the network.A secondary utility of the tokens is payments enabled by Fantom’s fast speeds. Finally, FTM is used as the gas to power any smart contract interaction on the network.
The Fantom staking mechanismAs mentioned, Fantom is a proof-of-stake blockchain where users can either run their own validator nodes or assign their stake to a validator which will earn rewards on their behalf. This means that anyone who holds FTM tokens can choose to delegate some of their SOL to one or more validators, who process transactions and run the network.
There is no minimum staking period for FTM. Additionally, Liquid Staking unlocks the value of FTM once it is staked. sFTM is minted in a 1:1 ratio to staked FTM and can be used as collateral in Fantom Finance, the platform’s DeFi suite.StakingRewards.com lists Fantom as the 17th-largest blockchain by value of assets staked - with US$2,386,542,598 staked. There are just ~64% of token holders participating in Fantom, which implies 36% of token holders are passively holding their FTM and are likely just speculators.Fantom is an emerging proof-of-stake still in its early adoption phase. This means rewards for stakers are still relatively high.The current estimated interest rate for FTM holders who delegate their tokens to a validator is 9.6%. Adjusted for the inflation rate of network supply, however, this interest rate drops to 2.4%. According to Staking Rewards, validators running a Fantom Node will earn an interest rate of 11.34% but once adjusted for network supply inflation this drops to 4.1%.Users can delegate their tokens to a staking pool that will, for a fee, participate in the network’s Proof-of-Stake consensus on behalf of the delegator. Or they can run a node themselves and directly participate in consensus. Staking rewards.com describes the complexity of delegating FTM to a staking pool as ‘easy’. The FTM wallet is a web application built for Fantom that allows users to allocate to a pool within minutes. Increasing stake and unstaking is simple and can be completed within the same wallet.It describes the complexity of running your own Fantom validator node as ‘Very Hard’ and risky for staking rewards. There are very high hardware requirements (with AWS setups recommended, which also requires a high level of technical knowledge).
There are currently 43 live validators on the Fantom network, a relatively small quorum that implies relative centralization.Conclusion
Fantom is pitched as a cheaper, faster, more energy efficient version of Ethereum. It can be viewed as a direct substitute for Ethereum using the same wallets, virtual machines and developer tools. It has stood against other EVM chains because of its unique consensus model, a long term focus on interoperability and perhaps because it is the next asset in line as part of the ongoing platform blockchain price pumps.The network has big-name VC backers and it continues to attract developers to build on it. It does, however, appear to be relatively centralized compared to chains like Ethhereum and Solana. Additionally like other EVMs it is riding on the coattails of Ethereum and may be hung out to dry when Ethereum becomes more scalable following the implementation of sharding and the full transition to Ethereum 2.0.
The mission of the Cirus foundation is to accelerate the ownership economy by building the on-ramp for individuals to own, manage and monetize their largest digital commodity — data.The internet has penetrated nearly every aspect of people's lives, including communicating with one another, consuming entertainment, and acquiring knowledge.
The current Web 2.0 environment has come to reflect the era of "Big Data," in which individuals enrich themselves by providing data to centralized digital platforms.The Cirus platform aims to transform this business method by addressing three major paradigm shifts: digital accessibility, big data and the key to ownership, and, last but not least, Web 3.0.What does Cirus aim for?To gain a better understanding, Cirus Foundation is a multi-layered ecosystem that uses cutting-edge technology, software, and a tokenized currency to accelerate the ownership economy.
Individuals may enter this new era by owning, managing, and monetizing their most valuable digital asset - data. Cirus is more than a game-changing solution for the next step in crypto and data storage.The Cirus Foundation is a non-profit contributor to the Cirus Ecosystem, which contains the Cirus Device, Cirus Core Platform, and Cirus Confluence. They all work together to create a strong system that achieves three fundamental paradigm shifts in the way individuals interact with, profit from, and contribute to the ownership economy.
Who is behind the project?Cirus stands up with a fantastic team; although they are at the start of their journey, it seems that creative ideas have attracted many interested participants to their project.
One such person is former Apple CEO Gil Amelio, who has joined the Cirus Foundation as a senior adviser. The senior technology executive will also serve as chairman of Cirus' commercial business, assisting Cirus in reaching a new market for its technologies.Another notable adviser is Finis Conner who is the co-founder of two Fortune 500 tech companies—Seagate and Conner Peripherals. Cirus will benefit from Conner's knowledge of growing hardware production, given his background with digital storage systems. Conner will also be essential to Cirus as it moves away from centralized storage and develops better solutions that ensure users' data ownership, which Conner refers to as personal cloud data storage.
What’s the next step?Cirus will also offer a device that can replace a regular home internet router while allowing interaction with the Cirus Core Platform and Confluence Network.Starting with the typical plug-and-play method, the user easily connects to the internet by replacing their traditional router with the Cirus. Users will be able to set permissions and pass thresholds for data collection through the device.The information gathered is rich and granular, and the Cirus Core platform uses it. The gadget does not need a significant change in the user's behavior. They currently have 47 international patents pending, allowing them to offer an increasing and robust set of features that go beyond that of a primary internet router.
Aside from that, the Cirus Foundation will have its token, which will serve as the network's native currency and external platform interactions. Their token has a fixed supply of 250 million units. The coin ecosystem will be split into four sections, including:Authentification
RemittanceBridge & Transactions
Network ValidationFurthermore, the Cirus Foundation addresses the complicated issues surrounding the commoditization of digital asset transfer and trading in today's society.