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Byzantium - Crypto Mining Blog

Byzantium - Crypto Mining Blog

All About BTC, LTC, ETH mining as well as other alternative crypto currencies Ethereums Byzantium Hard Fork is Happening Tomorrow The Ethereum (ETH) network will be undergoing a planned hard fork at block number 4.37 Million (4,370,000), which will likely occur between 12:00 UTC and 13:00 UTC on Monday, October 16, 2017. Ethereum users should update to the latest version of the Ethereum wallet/Mist if they are using it as well as any of the Ethereum clients Geth, Parity or Harmony prior to the hard fork in order to be ready. Ethereum websites and mobile applications that allow you to store ether and/or make transactions are running their own Ethereum client infrastructure to facilitate their services and they should be doing the update as well in order to support he hard fork as well. A hard fork is a change to the underlying Ethereum protocol, creating new rules to improve the system. The protocol changes are activated at a specific block number. All Ethereum clients need to upgrade, otherwise they will be stuck on an incompatible chain following the old rules. Metropolis is a planned Ethereum development phase that includes two hard forks: Byzantium and Constantinople. Byzantium is occurring at block number 4.37M (the hard fork happening tomorrow), while the second part Constantinople does not currently have a release date, but is expected to happen some time in 2018. Update: The hardfork has been successful, the new block reward is 3 ETH (down from 5), but also the effective block time and difficulty have pretty much halved, so in the end miners should still be able to get a better profit at the moment compared to before the fork. Continue reading >>

Ethereum's Post-byzantium Records - Crypto Daily

Ethereum's Post-byzantium Records - Crypto Daily

Have you noticed how your Ethereum transactions seem to be going through faster after the blockchains hard fork on Monday? The upgrade, named Byzantium, was the first part of Ethereums Metropolis development phase, and one of the improvements it introduces, is the time it takes to mine a block in Ethereum. Before Byzantium it took around 30 seconds to mine a block, known as block time, and this is now down to about 14 seconds. This means better transaction throughput, less congestion (although big ICO/TGEs happening over a short time period will still be felt) and generally a faster network. Over the past week, there have been a maximum of a few hundred pending transactions whenever Ive checked (although it was spiking earlier today due to the Request.Network tokens becoming tradable), impressive numbers considering Ethereum is currently averaging around 21,000 transactions per hour . For comparison, Bitcoins average block time is currently 7.5 minutes with roughly 14,000 hourly transactions. October 17th saw a record high 505,000 transactions on Ethereum, and the median waiting time for a transaction to process on Ethereum is currently 77 seconds . The best part of this is that, unless youre in a hurry and can wait a few minutes for your transaction to go through, according to ETH Gas Station, transaction fees are almost non-existent. To avoid the improvement in block times from doubling the returns for miners, known as block rewards, and thus inflation, also included in the upgrade was a 40 percent reduction of the block reward, pulling it down from five to three ETH per block. So with these impressive numbers, Ethereum community should be happy, right? Despite some rumours and speculation on potential issues that could have caused security bugs, none seems to actual Continue reading >>

Byzantine Fault Tolerance

Byzantine Fault Tolerance

"Byzantine generals" redirects here. For military generals of the Byzantine empire, see Category:Byzantine generals . In fault-tolerant computer systems , and in particular distributed computing systems, Byzantine fault tolerance (BFT) is the characteristic of a system that tolerates the class of failures known as the Byzantine Generals' Problem , [1] which is a generalized version of the Two Generals' Problem for which there is an unsolvability proof. The phrases interactive consistency or source congruency have been used to refer to Byzantine fault tolerance, particularly among the members of some early implementation teams. [2] It is also referred to as error avalanche, Byzantine agreement problem, Byzantine generals problem and Byzantine failure. Byzantine failures are considered the most general and most difficult class of failures among the failure modes . The so-called fail-stop failure mode occupies the simplest end of the spectrum. Whereas fail-stop failure model simply means that the only way to fail is a node crash, detected by other nodes, Byzantine failures imply no restrictions, which means that the failed node can generate arbitrary data, pretending to be a correct one. Thus, Byzantine failures can confuse failure detection systems, which makes fault tolerance difficult. A Byzantine fault is any fault presenting different symptoms to different observers. [3] A Byzantine failure is the loss of a system service due to a Byzantine fault in systems that require consensus . [4] The objective of Byzantine fault tolerance is to be able to defend against Byzantine failures, in which components of a system fail with symptoms that prevent some components of the system from reaching agreement among themselves, where such agreement is needed for the correct operatio Continue reading >>

Blockchain: The Byzantine Generalsproblem

Blockchain: The Byzantine Generalsproblem

Student at UMich studying Computer Science and Cognitive Science Blockchain: The Byzantine GeneralsProblem There is a problem in computing which until very recently, had no solution. The problem is called the Byzantine Generals Problem. It essentially describes a problem in consensus-making in a system where communication channels cannot be trusted. The problem follows. Imagine you are the general of an army for the Byzantine Empire in its heyday. You and a general of another Byzantine army decide to sack an enemy city. Both the armies approach the city from opposite sides and set up camp. The generals of the armies need to agree on an exact time to attack because the city is able to withstand the attack from only one army. The armies share a messenger which they use to communicate with each other to decide on a time to attack. However, the only way for the messenger to get from one armies camp to the other is to go through the enemy city. Source: This makes the messenger untrustworthy because there is no way of knowing whether the message you received from the other army is authentic. Imagine I send to the other army that I will attack Monday at 5 PM and the other general responds saying they would rather attack Tuesday, but the message is tampered with somewhere along the way. The message now says they will also attack Monday. I am under the impression that we have reached consensus when in fact we have not. So whats the solution? Lets first look at the messages themselves. They are currently being sent in plain text. This is a problem because plain text is easily manipulated. Clearly we need another system that we can use to validate that the message has not been tampered with. First, a few terms of vocabulary. Hashing is the use of a mathematical function to conver Continue reading >>

Will Ethereums Byzantium Hard Fork Cause A New Coin To Form, Like With Bitcoin And Bitcoin Cash?

Will Ethereums Byzantium Hard Fork Cause A New Coin To Form, Like With Bitcoin And Bitcoin Cash?

The first part of Ethereums hard fork- Byzantium has officially launched on Testnet. Find out detailed information here: Firstly a hard fork is a software upgrade that introduces a new rule to the network that isn't compatible with the older software, so miners will need to switch over to the new upgraded version of Ethereum, a hard fork does not guarantee a brand new currency unless a substantial amount of miners continue to mine the old blockchain. There's already been a couple of hard-forks within Ethereum. When a hard fork happens, there's always the possibility of a new currency emerging if the chain splits due to disputes like the emergence of ETC and Bitcoin Cash with the Bitcoin blockchain. From what I understand, it's fairly certain that this fork will not result in a third Ethereum currency. Metropolis has been planned and there's no big controversy around it, not enough for miners to keep mining the old chain and split from the Ethereum blockchain. However if there was to be any major disagreements in the future causing a chain split then the only way you can receive the new coins is through holding Ethereum in a wallet that allows you to control the private key. MyEtherWallet.com - Free Ethereum wallet, allows you to print a paper wallet for cold storage. Ledger Nano S - Hardware wallet with BIP encryption that supports Ethereum plus hundreds of altcoins, also compatible with MyEtherWallet. Ledger Blue - Just like the Nano S but with a large color screen and additional encryption processes to isolate and securely store your coins, can also be used with MyEtherWallet. The same applies to any cryptocurreny that undergoes a chain split due a hard fork. Ethereum was the first coin to fork and split blockchains. The old blockchain is called Ethereum Classic. For Continue reading >>

Ethereums Byzantium Hard Fork Is In A Week: What You Need To Know

Ethereums Byzantium Hard Fork Is In A Week: What You Need To Know

Ethereums Byzantium Hard Fork Is In a Week: What You Need to Know Published October 10, 2017 by William Peaster Ethereums network upgrade Byzantium is set to go live October 16-17, 2017, a hard-fork in which all Ethereums nodes will shift uniformly. Ethereums core developers are forking Ethereums incumbent chain. Byzantium is the first part of the major, two-pronged network upgrade known as Metropolis. Vitalik Buterin and the rest of Ethereums core developers have divided Metropolis into two phases: Byzantium and Constantinople. Both phases of Metropolis will necessitate hard-forks, so Byzantium is the first of two. The date of the Constantinople hard-fork is as yet undetermined. The trigger block number for the Byzantium fork is 4,370,000. Byzantium provides new features for Ethereum, with these features being focused on improving 1) performance and 2) security. After Byzantium, the network should move faster and be less burdened. Moreover, this upgrade builds the foundation for new privacy upgrades in the future. Ethereum DEV Roundup #6, featuring Casper, Byzantium, Geth optimizations, testing, web3, Viper, Solidity and more: Vitalik Buterin (@VitalikButerin) October 9, 2017 Is This Anything Like the Bitcoin Forks? Can I Make Money Off the Fork? The Byzantium upgrade has beyond super-majority consensus in the Ethereum community, unlike the contentious scaling debate Bitcoiners are facing right now. Accordingly, the old (but currently incumbent) Ethereum chain wont have any mining power once this 1st phase of Metropolis goes live, rendering that chain obsolete. So no, there likely will not be 3 Ethereum coins. When Ethereum Classic conducted its own chain split, it did so on strong ideological grounds. With one week left to go until the current split, there is no simi Continue reading >>

Byzantium Hard Fork Activates On Ethereum Network

Byzantium Hard Fork Activates On Ethereum Network

Byzantium Hard Fork Activates on Ethereum Network Join our community of 10 000 traders on Hacked.com for just $39 per month. Ethereums Byzantium hard fork went into effect Monday morning, initiating the first phase of the platforms latest protocol upgrade. The Byzantium fork is considered to be the first half of Metropolis, a protocol upgrade that has been planned since 2015. It introduces nine ethereum improvement protocols (EIPs) designed to enhance the networks privacy, scalability, and security. The second phase Constantinople does not yet have an official release date but is tentatively scheduled for 2018. At 5:22 UTC, block 4,370,000 was mined, officially activating Byzantium. This was the fifth time the Ethereum network has undergone a hard fork, the ethereum price has appreciated more than 3,000% since the networks last hard fork , which occurred in November 2016. Consequently, there was much more at stake market cap-wise than at any previous hard fork. Hard fork celebration! pic.twitter.com/mL1ZyJOYeA Vitalik Buterin (@VitalikButerin) October 16, 2017 Developers cheered Byzantiums activation, and the celebration was particularly satisfying considering the obstacles the community had to overcome during the days immediately preceding the fork. Most notably, testers were still finding software bugs as recently as October 14, leading to calls to postpone the hard fork.Moreover, although this fork was not contentious, there were fears that some miners would continue to mine on the old blockchain, potentially leading to a blockchain split and creating a new currency. Nevertheless, the hard fork was activated as planned, and so far the transition appears to have been successful. At the time of writing, average block times had fallen below 20 seconds, and the network Continue reading >>

Ethereum Byzantium Hard Fork Proof Of Work To Proof Of Stake?

Ethereum Byzantium Hard Fork Proof Of Work To Proof Of Stake?

The Ethereum hard fork is about to arrive. Ethereums long-awaited Metropolis upgrade is scheduled to get underway on or around October 16 or whenever block 4,370,000 occurs. October 16 will mark the first stage of the Metropolis upgrade, which is the hard fork for Byzantium. The developers are optimistic that clients will upgrade their software together, helping to avoid any unintended splits. To ensure the upgrade is completed in unison, clients will need to make all of the necessary upgrades to support the Byzantium hard fork. Geth, or Go Ethereum, has already upgraded to support Byzantium. Other clients are expected to follow, making this upgrade a non-event. Nevertheless, the potential always exists for a Bitcoin Cash-like hard fork in the Ethereum blockchain . The Byzantium hard fork comes as a result of Ethereum Improvement Protocol 649, or EIP 649. That EIP stated that Ether blocks will be mined ten seconds faster than theyre currently mined by the network. To protect the integrity of Ether, Byzantium will also lower the block reward from 5 ETH to 3 ETH per block. Testing of the hard fork took place last month on Ropsten, the simulation environment used by Ethereum to test any changes. At the same time, developers tested a handful of other EIPs scheduled to be introduced in the upcoming hard fork. Appears To Be On Track For A Smooth Upgrade Our friends at Hacked.com are reporting that the Ethereum development team met over the weekend to discuss the upcoming hard fork, and they generally agreed that everything is on track. No other meetings are scheduled before October 16. Overall, the goal of the Ethereum hard fork is to avoid a situation like what occurred with Bitcoin Cash , or BCH , during the bitcoin hard fork on October 1. That high-profile fork led to the Continue reading >>

Ethereum Byzantium Hard Fork Impact On Clients

Ethereum Byzantium Hard Fork Impact On Clients

Ethereum Byzantium hard fork Impact on Crypto Market 08-10 December Technical Ethereum Prediction - ETHUSD Forecast Ethereum is up for big improvements with its long-awaited Byzantium fork releasing on October 17. Before you choose to investin the currency, lets talk about Ethereum Byzantium hard fork Impact on Crypto Market. Do you think the hard fork will affect users? 12 October, AtoZForex Countdown begins for the first part of Ethereums long-awaited Metropolis upgrade. Byzantium is ready to go live on October 17.The hard fork for Byzantium will now occur at block number 4,370,000. Ethereum Byzantium hard fork Impact on Clients As the shift toward Byzantium is dependant on the network nodes updating, the main focus in the days ahead will be ensuring the clients that offer software to nodes are ready for the upgrade. This means that startups responsible for overseeing clients need to ensure their software actuallycontains the EIPs that enforce the Byzantium hard fork. While each client enforces the same rules, theyre written in different programming languages and backed by different developer teams. This is what Ethereum has called client diversity, which is intended to allow for innovation while retaining a stable, unambiguous base protocol. Moreover, Ethereums core development team is optimistic that clients will upgrade their software uniformly. Clients should make all the necessary changes by ensuring the completion of the upgrade in unison. The blockchains most popular client, Go Ethereum (Geth), has already undergone the upgrade. Due to high load on the network, Ethereum cannot keep up with the pace and scale. All Ethereum clients must update with software that enforces the block number 4,370,000. Ethereum founder Vitalik Buterin s python-based Ethereum client Continue reading >>

The Byzantium Countdown: What's Left Before Ethereum's Next Fork? - Coindesk

The Byzantium Countdown: What's Left Before Ethereum's Next Fork? - Coindesk

The Byzantium Countdown: What's Left Before Ethereum's Next Fork? The next major update to ethereum, the world's second largest blockchain by total value, is set to go live in less than a week. Part of a larger, multi-component upgrade called Metropolis , the so-called"Byzantium" code will be enforced at block 4,370,000 or in about four days according to current metrics as a hard fork . A common (yet controversial ) strategy for upgrading blockchains, this means the changes are required to be accepted broadly by all stakeholders on the ethereum blockchain. In this light, however, it's notable that the use of this mechanism in the past has had mixed results for ethereum. To date, the platform has conducted four hard forks , with only one resulting in the creation of an alternative blockchain, ethereum classic . Given the changes in Byzantium have been outlined in the ethereum roadmap as far back as 2015, it's unlikely it will prove problematic.With two major upgrades from Metropolis postponed, Byzantium is perhaps best seen as a conservative upgrade that will introduce nine key ethereum improvement protocols (EIPs) to the platform. In total, the changes are designed to make the platform lighter and faster to run, improving transaction speed, smart contract security and eventually perhaps, privacy . However, that said, there's still work to be done on the upgrade, with various stakeholders now entering the final stages of their preparations. As the shift toward Byzantium is dependant on the network nodes updating, the main focus in the days ahead will be ensuring the clients that offer software to nodes are ready for the upgrade. This means that startups responsible for overseeing clients need to ensure their software actuallycontains the EIPs that enforce the Byzantium Continue reading >>

Ethereum Executes Byzantium Blockchain Software Upgrade - Coindesk

Ethereum Executes Byzantium Blockchain Software Upgrade - Coindesk

Ethereum Executes Byzantium Blockchain Software Upgrade At 05.22 UTC, the fifth hard fork to occur on ethereum, the second largest cryptocurrency by market cap, enacted a batch of ethereum improvement protocols (EIPs) designed to enhance the platform. The price per dollar of ether oscillated wildly in the run up, before rising over 2 percent following activation to $348, according to CoinMarketCap data. First introduced in the ethereum roadmap in 2015 under the name of Metropolis, that large-scale upgrade encountered some substantial delays, leading it to be broken into two phases Byzantium and Constantinople (the latter still having no formal release date). As Byzantiumwas a planned fork with minimally contentious changes, there's been very little disagreement among the community about the merits of the code changes included in the upgrade. However, the fork is still notable in that it's ethereum's first major upgrade since interest in the technologyskyrocketed this year, which has been largely correlated to the popularity of ICO tokens launched using ethereum's ERC-20 token standard . The process was at times a little sticky, though, with ethereum developers encountering some pretty nasty surprises in the run-up to the deadline. Over the last few days, Byzantium-enabled ethereum software was continuously retracted due to critical bugs found in the code. Developers pushed out corrections just in time but not without seriously considering postponing the fork. According to blockchain analytics website Ether Nodes, nodes running faulty software are currently 65.3 percent Geth and 30.4 percent Parity , the two main ethereum clients. As previously detailed by CoinDesk, the faulty software could cause a consensus issue , leading the network to partition, or expose the platf Continue reading >>

Byzantium Ico Agency Annual Report Hugely Successful Year

Byzantium Ico Agency Annual Report Hugely Successful Year

BYZANTIUM ICO Agency Annual Report Hugely Successful Year December 29, 2017 Bitcoinist Press Release , Press releases 0 This article was originally posted on Bitcoinist - one of the leading sources for information about Bitcoin, digital currency and blockchain technology. With one of the most reliable news teams in the industry, Bitcoinist provides up-to-date news and insightful analysis. For more follow the link below. BYZANTIUM ICO Agency has finished this year with more than 12,000 BTC collected for their clients as well as 1000 media publications and thousands of ICO investors attracted. In 2017 BYZANTIUM has successfully provided their services to some the most promising ICOs, including Crypviser , CryptoPing , Goldmint , Mircomoney , Naga Token Sale and Bankex . Moreover, they worked with The Token Fund . Projects received a range of services including: As a result, in more than 12,000 BTC were gathered (in total for all projects based on the sum collected on the last day of the token sale converted to BTC in accordance to exchange rates). BYZANTIUM generated more than 1000 crypto and investing media publications for their clients as well as attracted thousands of ICO investors to their projects. In terms of business development, BYZANTIUM Agency has attracted big crypto stars prominent figures in both crypto and blockchain spaces as advisors and investors to their clients. BYZANTIUM specializes in PPC advertising, providing paid advertising services for both social media and searching engines. Thus, clients get thousands of precisely picked conversions with great conversion rates and smart optimization.Moreover, BYZANTIUM negotiated and organized more than 50 strategic partnerships on behalf of their clients (like partnerships with Bancor, Cointelegraph etc.). L Continue reading >>

Cryptocurrency This Week: Abcde Launches One Coin, 'ethereum Hard Fork', Russia To Block Exchange Websites, And More

Cryptocurrency This Week: Abcde Launches One Coin, 'ethereum Hard Fork', Russia To Block Exchange Websites, And More

Google Pinterest Reddit Pocket Hackernews Bitcoin is unstoppable. This week its price surged to $5800. Billionaire and Wall Street giant Mike Novogratz estimates that the price will hit $10,000 in next few months. With over 17 Mn Bitcoins mined so far, leading cryptocurrency Bitcoin-wealth has grown to $88 Bn worldwide, and is beyond the powers of regulators and governments. As can be seen in China, the ban on Bitcoin will only encourage underground economy; but, the trading will hardly stop. Similar is the case with Ethereum. Despite the upcoming hard-fork, the price is surging to an all-time high. Lets take a look at the recent developments from the world of cryptocurrency! Vizag Blockchain Conference: Australia-based Startups Coinlancer And ABCDe One Coin Launch New Cryptocurrencies Developed on Ethereum platform, Coinlancer provides pre-mined tokens to help freelancers and clients connect remotely through smart contracts. The platform connects freelancers and clients; however, unlike other platforms which charge 10-20% of every freelancing assignments, the platform charges one time 3% fee for all future jobs. The infamous One Coin is back. Australian cryptocurrency startup ABCDe has relaunched One Coins. Speaking to Inc42, ABCDe President Nuri Amir said, The new One Coins are very much based on decentralized blockchain platform unlike the previous One Coins. Speaking about the how different One Coin is, she said, One Coins are significantly different from Bitcoins at three parameters. We have decreased the block confirmation time from 10 minutes to one minute. The block size has also been increased from 1MB (Bitcoin block size) to 9 MB. In case of One Coins, we have employed both Proof-Of-Work (POW) and Proof-Of-Stake algorithms along with CPU and GPU mining platfo Continue reading >>

Byzantium Hard Fork In Under 5 Minutes

Byzantium Hard Fork In Under 5 Minutes

The Byzantium Hard Fork in Under 5 Minutes Byzantium is the first hard fork from a series of two that comprise the Metropolis Update . They aim to prepare the Ethereum network to transition from proof of work to proof of stake. The exact date of Byzantiums launch on the main net is still not certain but the latest speculations are for 17th October.Tests have started on 19th September on the Ropsten test-net and would last two or four weeks enabling developers to collect feedback and bugs. Smart contracts can easily exchange data if its size is known. For data with unknown size or arbitrary data, the process is difficult and expensive. The new codes of the hard fork would allow for flexible exchange of arbitrary data, allowing for more complex conditions to be placed on transactions. Smart contracts request data from each other for transaction processing. The one being called for details has priority to make changes over the details of the caller. The potential threat is that if the called contract is malicious it can rewrite the conditions of the transaction without the other partys approval.With the Byzantium hard fork contracts can get details without being able to make changes. Allowing easier and more secure interaction. At the moment, if a client wants to revert a contract they need to do so through expensive and complex hacks. Byzantium will provide an inbuilt method to stop the execution of a contract and revert it to its original state without such complex actions. The state of Ethereums network is a snapshot of all the accounts and contracts. A state root is a calculation that verifies each new entry of the network and updates the state. The hard fork will decrease the number of these calculations reducing the computing power the network requires to operate. T Continue reading >>

Byzantium - Ethereum's Hard Fork Explained | Crypto Briefing

Byzantium - Ethereum's Hard Fork Explained | Crypto Briefing

At 5:22 UTC on October 16, block 4,370,000 was mined and added to the Ethereum blockchain, officially activating the Byzantium hard fork, an upgrade to the Ethereum software. Developers celebrated the highly-anticipated release, but many average users were confused about what exactly Byzantium was and what it accomplished. In blockchain development, fundamental changes to the software protocol are called forks. Soft forks are backward-compatible, enabling the network to stay intact as long as a majority of nodes upgrade to the new software. Hard forks, on the other hand, are not compatible with legacy software versions, so the blockchain will split into two different paths if some node operators do not upgrade to the latest version. This can potentially create a new cryptocurrency, which is what happened in 2016 when a minority group within the Ethereum community refused to follow the hard fork that returned funds stolen during the DAO hack. Byzantium is the fifth hard fork Ethereum has implemented, and it is designed to increase the networks privacy, security, and scalability. Specifically, it activates nine ethereum improvement protocols (EIPs), most of which will not be noticeable to the average user. That said, several EIPs are worthy of note. Some are directed at improving smart contracts by creating a way for developers to program planned contract upgrades, as well as making them more secure against cyber attacks. Others improve the networks ability to process transactions more efficiently and reduce the block reward for miners. The most exciting EIP prepares Ethereum for the integration of ZK-Snarks, a cryptographic innovation developed in collaboration with anonymity-centric cryptocurrency Zcash. Once implemented, this technology is expected to allow ethereum u Continue reading >>

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