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Casper Upgrade Released

Casper Upgrade Released

The first draft of the Casper proof-of-stake protocol upgrade from Ethereum developer Vlad Zamfir has been presented Published on Tuesday, the code following its presentation at the Devcon3 event earlier this month intends to radically revise how blocks are created and distributed on the ethereum network. It is one of two concurrent applications to develop code for Casper, with the other arm being led by network creator Vitalik Buterin. Zamfir's take on Casper comes several days after the publication of a white paper, titled "Casper the Friendly Ghost". The paper focuses on "correct-by-construction consensus protocols", seeking to facilitate how blockchains achieve consensus in a "partially synchronous network". This is an attempt to reduce the total complexity of the blockchain. At the time when Zamfir's code release may represent on a small part of a bigger effort, its publication demonstrates a new phase of development that will lead ethereum a step closer to transforming the infrastructure that underlies the network. Currently, miners discover and add new blocks through the proof-of-work process, which is energy-intensive process, driving miners to buy expensive power-hungry graphics cards. Casper aims to get out of this model. Nodes could mine by essentially having funds deposited the "stake" in proof-of-stake and held over time, generating rewards as the node discovers each new block. Bitcoin to be needed in Venezuela facing Economic Slump The popularity of Bitcoin is still growing despite the country has got its own cryptocurrency Petro Venezuela has always been a distinctive country especially in relation to cryptocurrency. The locals have shown large interest in Bitcoin and other kinds of digital currency over the year. After a long period of gaining strength, Continue reading >>

Ethereum's Casper Update Approaching: Here's What You Need To Know - Ethereum World News

Ethereum's Casper Update Approaching: Here's What You Need To Know - Ethereum World News

Ethereums developers have announced the platforms highly anticipated Casper update could be rolled out potentially as early as the next Constantinople hard-fork. Casper will represent the initialization of Ethereums shift away from the Proof-of-Work (PoW) consensus protocol toward a Proof-of-Stake (PoS) protocol. Importantly, the final rendition of Casper isnt finalized yet. ETHs top developers are scrutinizing two renditions of Casperwhat theyve termed Casper CBC and Casper FFG. For now, though, it looks like the developers are leaning toward the FFG version.As the Casper FFG whitepaper points out: Casper is a partial consensus mechanism combining proof-of-stake algorithm research and Byzantine fault-tolerant consensus theory. Essentially, then, the FFG version will be the blueprint that Ethereum follows in switching to PoS. Conversely, the CBC rendition will actually govern Ethereums consensus process once the PoS system is implemented. When it comes down to it, the final edition of Casper will surely be inspired by the best parts ofbothCasper CBC and Casper FFG. Lucky Bee (@pechnikufa) October 27, 2017 This shift will allow stakers to secure the ETH network for annual profits by holding their coins in approved wallets as opposed to the current system in which miners are responsible for securing the network. Seeing to it that Caspers implemented smoothly will mark a milestone years in the coming for the team. Indeed, the situation looks bright now, as ETH founder Vitalik Buterins saying everythings mapped out nicely: It should be done I would say very soon. The parts that arent done are fine details of the contract . The actual spec of the fork is not going to be particularly complex. Its basically just increase the balance of a contract then change the fork choice r Continue reading >>

Is Proof Of Stake Really The Solution?

Is Proof Of Stake Really The Solution?

Proof of Work is said to have the problem of 51% Attack. How better Proof of Stakeis? Theres been some heat going around the Ethereums decision to move from proof-of-work to proof-of-stake. With this, its natural to have hundreds of questions pop up everywhere. I will try to explain the fundamental difference between the two consensus methods. I will also tell why do some prefer proof-of-stake over proof-of-work and others dont. Then, itll be up to you to make up your mind. Ill keep using the term timestamping throughout the post. It means the network reaching to a consensus for a block. The majority of the network must be a consensus about a block for it to be appended to the chain. When a block is appended to the chain, it gets timestamped, thus, the term. I explained proof-of-work in the ultimate guide in plain English to understand Blockchain . If you havent read it yet, please do, because we will be carrying it forward from there in this blog post. By the way, I am the editor of a weekly newsletter, Unmade , which delivers one idea from the future to your inboxes. Work is much more fun than fun. NoelCoward In proof-of-work, nodes in the network work to put a block of transactions at the end of the ever growing chain. This work involves calculating a hash of the block with some specific requirements. Whoever completes the calculation first gets rewarded with some amount of the cryptocurrency. And thats where the catch of this method lies whoever does it first gets the reward. Thus, to get the reward, nodes tend to put heavy rigs at computational work so that they can be the first. It makes the overall network expensive to keep running. Also, there are laws of physics that govern the rate at which the computers can evolve and scale. Thats not enough as the average c Continue reading >>

Introducing Ethereumand Solidity

Introducing Ethereumand Solidity

To restore an account on a different node than it was created upon, first install the Mist browser (and then locate the keystore folder. In a machine with Mist installed, this folder is usually located in the following directories: Mac: ~/Library/Ethereum/keystore Linux: ~/.ethereum/keystore Windows: %APPDATA%/Ethereum/keystore Restoring an Ethereum account in Mist simply involves copying a text file containing a private key inside the keystore folder, and restarting Mist. If you have the entire keyfile as it was created in Mist, with a filename that begins with a UTC timestamp, you can drop that into the keystore folder and restart Mist. Your balances should load as soon as Mist is finished updating, sometimes sooner. If you only have your private key, simply drop it into a plaintext file, name it whatever you like, and place that in the keystore folder. Continue reading >>

Ethereum Casper 101 Jon Choi Medium

Ethereum Casper 101 Jon Choi Medium

tl;dr Casper will implement proof of stake in Ethereum. We begin with a review on why proof of stake matters and continue with its strengths & weaknesses. This post aims to provide a broad overview of Casper and clarify some of the confusion with respect to the two protocol design efforts related to Casper. The two proposed implementations share the same core design principle: applying cryptoeconomic mechanism design to secure the network while managing challenges regarding liveness, safety and synchrony assumptions. This post is also an overview of the progress so far and the challenges that lie ahead. Most importantly for fellow newcomers, the post identifies & defines key concepts and ties together various helpful resources under one context. The overarching intention is to make Casper and proof of stake more approachable to everyone in the community. Enjoy and please dont hesitate to reach out with questions, corrections or feedback ( email , twitter ). Casper is hardly a new project as it dates back to 2014, so fortunately it has a lot of related information online. However, despite the wealth of information out there, theres no easy jumping-off point for a beginner to ramp up and start engaging with the project. Thats why Im writing this post. While other posts, videos and papers focus on the specification, implementation and verification of Casper. This post focuses on the various guiding design principles of Casper, how it differs from competing approaches, why you should care about it, and how you can contribute to this project. In addition, Casper has maintained an exceptionally open and collaborative culture among Ethereum researchers, developers and community members. I hope this post can continue that tradition by introducing you to Casper and convincing y Continue reading >>

Ethereums Proof Of Stake Casper Testnet Nears Launch - Ethereum

Ethereums Proof Of Stake Casper Testnet Nears Launch - Ethereum

Ethereums Proof of Stake Casper Testnet Nears Launch Thank you for sharing this. Yesterday I asked about difference between PoS and PoW and no one answered. This gives some great insight. Mind is blown at scalability, interest generation, incentive for a normal user to run a node, environmental impact... glad I moved my assets to ETH. It's tough to read anything about crypto without tripping over PoS It's going to be huge. Energy use will definitely trip up other cryptos if some form of fix isn't in the pipeline, and PoS for ether is rather ingenious. (I'm afraid to ask in the sub for it - do the bitcoin core devs have a plan for power use?) Keep using subsidized electric until their governments come take it all away. incentive for a normal user to run a node This is ABSOLUTELY the biggest thing. When Satoshi wrote the whitepaper he used the word node in this function: A participant of the network, how uses it as a currency and mines it. Then Bitcoin became so popular that within a decade mining became big business and the average user had no incentive anymore to run anything but a light client. And so why would people join this new Bitcoin network, they already missed out! Now I don't understand everything yet about Proof of Stake but to me I am very interested in a network where every user has an incentive to run the software and be a participant. I don't know how all of that would work but just look at something like the Bitttorent DHT mainline client, this is a decentralized network that has between 15 - 30 million users on a daily basis. Now a money system is ofcourse not the same but still .... one day this killed crypto app will be here and everybody will want to run it and be active in the network because of benefits to EVERY partipant. See if I had 10 000 EURO Continue reading >>

Is Ouroboros More Attractive For Stakers Than Ethereum's Casper? : Cardano

Is Ouroboros More Attractive For Stakers Than Ethereum's Casper? : Cardano

It seems like Ethereum's POS protocol "Casper" is entirely designed around the idea of punishing people for any malicious actions, or even for being offline: What behaviour is considered malicious? Can a node be falsely accused? Can punishment be disputed? For example: in this Ouroboros presentation: , Aggelos talks about chain-branching and demonstrates examples how malicious node may convince next slot-leader to work on a wrong chain. Casper description just says: "a malicious miner will get their stake slashed off for betting on the red chain" Is the stake-burning the only thing that supposed to make Casper safe? Ouroboros presented as proovably-safe algorithm, and in all talks Aggelos shows precisely how exactly all this proven safety works, and what are the possible points of attack under existing proof, and how Ouroboros deals with them. But it seems like for Casper it's just: "It's safe, cuz we punish 'em". Is it really that bad for a node to go offline? It seems that Casper makes little to no distinction between specifically-malicious and accidentally-offline nodes, punishing both by stake-burning. In Ouroboros presentations it was specifically mentioned that knowing all its future slots at the beginning of the epoch allows a node to be offline for the majority of the time. I'm not trying to just stick it to another party. I quite like Ethereum as a project, so its more like i'm really interested - how dangerous Ouroboros is for Ethereum's future? =) What's your opinion on this matter, on presented questions, and do you think that future Ethereum stakers may actually consider moving their assets to stake in Ouroboros for it being less punishable? Ah, sorry everyone, it now have occurred to me, that I might have used quite a sensationalist title. Sorry for that. Continue reading >>

Etherzero - And What You Should Know About The Upcoming Eth Hardfork!

Etherzero - And What You Should Know About The Upcoming Eth Hardfork!

In late December, the information about the upcoming Ethereum hard fork, which is planned on January 19, 2018, appeared in the network. It is noteworthy that in the original roadmap and on the official site ethereum.org, the event isnt marked, and the Ethereum development team doesnt give any comments on EtherZero. There is an opinion that this is a good advertising before the ICO and there wont be such hardfork. Anyway, the probability to approve whether its a fake or not will appear only on the day when the upgrade of the network is planned. In the meantime, we offer you to have a look at the project. On the official website, the EtherZero project is positioned as the next generation of a platform for the smart contract development, created by a group of professional developers DAPP. Among the fundamental differences and characteristics of the network, there is a two-level network system, master nodes, a system of offline community management, zero commissions, instant transactions, high scalability, which allows using DAPPs. The traditional gas payment system in Ethereum is eliminated in EtherZero, which makes the transaction, including in a smart contract, zero in fees. The team believes that only such a measure will be able to popularize decentralized applications. Also, EtherZero introduces and extends the master nodes by Dash, which expands the projects economic system, which can effectively stabilize and raise the price of this coin and manage the community. EtherZeros hardfork will occur around January 19, 2018 at block 4936270. All ETH holders will receive an ETZ (fork currency) at a ratio of 1 to 1, as it was with BitcoinCash. In case the fork takes place, the owners of the accounts on large exchanges can count on adding the coin support, but as of January 1 Continue reading >>

Hard Spoon The Casper Testnet : Ethereum

Hard Spoon The Casper Testnet : Ethereum

We all know the first bottleneck of scalability is secure PoS and it will take some time to hammer out the details of the friendly finality gadget and the bonded PoS Casper protocol. However the main net is currently being overrun by kitties and this can only become more of a problem as time goes. Tomorrow might be Doges or numerai tournaments or augur prediction markets or stable coin management. To the point of eventually turning away good traffic to other networks. ICOs that have raised money on Ethereum and need to go live may have to launch on other language agnostic networks. I think there is an easy solution to the scalability problem right now that will also aid in experimenting with the tech in a live setting: A hard spoon is when all current ETH balances are copied to a new chain, but state and history are discarded. In this case we would be talking a lean, mean experimental Casper PoS chain with the balance being derived from the main Ethereum chain at a specific block time. Early dapps that require throughput like Cryptokitties or Augur could be initially sated by deploying on the Casper version while assets/stocks/utility tokens can continue to be issued on mainnet Ethereum. Casper Ethereum would serve a similar purpose as Litecoin to Bitcoin, a value bearing testnet for the main chain. It will allow faster experimentation (more tps and faster blocks) under a different ticker symbol. Casper Ethereum can experiment with hard and fast algorithmic tweaks and bonded PoS while the mainnet continues merging upgrades in a secure fashion with PoW only being removed once Casper PoS is formally secure. Continue reading >>

Ethereum

Ethereum

use the following search parameters to narrow your results: include (or exclude) results marked as NSFW Welcome to r/Ethereum , the front page of the Web 3. No inappropriate behavior. This includes, but is not limited to: personal attacks, threats of violence, gossip, slurs of any kind, posting people's private information. Keep price discussion and market talk, memes & exchanges to subreddits such as /r/ethtrader Keep plain ICO advertisements to subreddits such as r/ethinvestor . Keep mining discussion to subreddits such as /r/EtherMining . No creating multiple accounts to get around Reddit rules. English language only. Please provide accurate translations where appropriate. Posts and comments must be made from an account at least 10 days old with a minimum of 20 comment karma. Exceptions may be made on a discretionary basis. Continue reading >>

Vlad Zamfir On Twitter: Casper Release Date

Vlad Zamfir On Twitter: Casper Release Date "soon" - Ethtrader

Vlad Zamfir on Twitter: Casper release date "soon" I like Vlad, he wished us all a Merry Christmas :) I was only exposed to him recently when kitties took our network under siege. Someone mentioned some FUD about ethereum scaling and attributed it to him. I then found the source and Vlad was well-written, clearly passionate, and very smart. The FUD ended up just being FUD of course Oh, when he literally said that ETH isn't secure or scalable. can you point out where he said that please? (I sold all my ETH for $16) Hmm... I rather wait for them to show a little bit more than just the numbers. They have an internal testnet and public testnet out this year. Ive never seen a more competent team as Zilliqa, ask them any technical question on Slack and theyll respond thoroughly. Zilliqa sold out in presale, there was a small community round but too late for that. Everyone are waiting to buy on exchange for those ICX gains. I hate ICOs like that. The polkadot ICO was the most honest and fair ICO I've ever seen so far. It tells a lot about a project. But I check Zilliqa once their tokens are out The reason it sold out was because eth suddenly doubled over a week. They planned to have 50% 50% presale/ico contribution. They used Bitcoinsuisse. But Polkadot lost all their eth...and collected so much as well. I really dont like reverse dutch auctions which is basically an uncapped raise. Zilliqa stuck to their 20m + 2mil community and i prefer that to deciding to raise an unlimited amount. You have a point on the Cap - it's a good thing. From my understanding: Named after the cartoon "Casper the friendly ghost" is an upgrade that will help change ethereum from proof of work (PoW) to proof of stake (PoS). PoW - is what we have now lots of graphics cards mining and confirming transa Continue reading >>

Ethereum Co-founder Withdraws 30,000 Eth To Bitstamp

Ethereum Co-founder Withdraws 30,000 Eth To Bitstamp

Ethereum co-founder Withdraws 30,000 ETH to Bitstamp Reports have emerged that the co-founder of Ethereum, Vitalik Buterin, transferred 30,000 ether (ETH) to Bitstamp sometime in the middle of December 2017, sparking uncertainty and doubt in the cryptocurrency market. Indeed, if Buterins known public Ethereum addresses were to be inspected , three transactions can be found, each indicating precisely 10,000 ETH. According to data obtained from this blockchain analysis, the transfers took place on December 15, 2017. If Buterin did cash out a large sum of his holdings, the incident would make him the second major cryptocurrency co-founder to do so in the past month. On December 20, 2017, Charlie Lee, the founder of Litecoin, announced on Reddit that he had sold or donated his entire stock of LTC because of a conflict of interest. Lee did, however, also state that he would continue to work on the cryptocurrency in the future. Whether Buterins withdrawal of his share of ether was for a similar reason is not known at this time as there has been no public announcement on the matter. Since the 23-year-old is not known to be a cryptocurrency trader, that possibility has since been ruled out as well. The Canadian programmer could, however, have used his ether reserve to pay contractors working on the digital currency. Just a couple days prior to the transfer, he tweeted the following, I just paid ~10 contractors in ETH with amounts calculated based on exchange rates from USD, SGD and TWD today. This explanation seems the most plausible in the absence of other convincing theories. Notably, the co-founder has also made several critical comments concerning the current state of the digital currency market over the past few weeks. In one such tweet , he questioned whether the cryptoc Continue reading >>

Vitalik Buterin (@vitalikbuterin) | Twitter

Vitalik Buterin (@vitalikbuterin) | Twitter

This timeline is where youll spend most of your time, getting instant updates about what matters to you. Hover over the profile pic and click the Following button to unfollow any account. When you see a Tweet you love, tap the heart it lets the person who wrote it know you shared the love. The fastest way to share someone elses Tweet with your followers is with a Retweet. Tap the icon to send it instantly. Add your thoughts about any Tweet with a Reply. Find a topic youre passionate about, and jump right in. Get instant insight into what people are talking about now. Follow more accounts to get instant updates about topics you care about. See the latest conversations about any topic instantly. Continue reading >>

Casper Is The Fuel For The Ethereum Rocket! : Ethtrader

Casper Is The Fuel For The Ethereum Rocket! : Ethtrader

Welcome to /r/EthTrader | Foundation Tip Jar | Rules | Policy | Mod Logs | Vote Tracking | News Timeline | Education | Comments RECDAO is a meta-community that seeks to provide Ethereum-based tools for improving how we use Reddit. Pre-register and then register your Reddit username on the Ethereum blockchain, vote in the dao, and be awarded community tokens based on your karma in community subs. Please see the FAQ for more details. TECHNICAL ANALYSIS FUNDAMENTAL ANALYSIS DISCUSSIONS DAPP DISCUSSIONS NEWS DAPP NEWS SCAMS WARNINGS TOKEN WARNINGS SECURITY RELEASE DAPP RELEASE EXCHANGES ADOPTION DAPP ADOPTION SENTIMENT STRATEGY METRICS MINING EDUCATIONAL MEDIA LEGACY DAPP ERC20 TOKEN AUGUR ALTETH ALTCOINS COMEDY SUPPORT TOOL You can correct inaccurate link-flair assignments by typing "[AutoMod]" along with the flair name in a top-level comment, e.g. [AutoMod] DAPP-NEWS. All flair names are capitalized, e.g. use [AutoMod] EXCHANGE instead of [AutoMod] Exchange. Two word flairs require a hyphen in between them. Requires 100 comment karma and 1-month account age. If this feature doesn't work, please message the modmail . Continue reading >>

Ethereum Launches Casper Testnet, Paving The Way For Proof-of-stake

Ethereum Launches Casper Testnet, Paving The Way For Proof-of-stake

Ethereum Launches Casper Testnet, Paving the Way for Proof-of-Stake Ethereum developers have launched an alpha test network (testnet) for Casper, paving the way for the cryptocurrency to eventually transition to a proof-of-stake (PoS) consensus algorithm. Like bitcoin, ethereum currently operates on a proof-of-work (PoW) consensus algorithm, meaning that the network is secured and new currency units are issued through mining, whereby participants solve cryptographic puzzles to validate transactions and create new blocks. However, PoW has attracted criticism over the years, both for its tendency to centralize mining hardware into a few pools and for the amount of electricity it consumes. Ethereum aims to address these problems by transitioning to Casper , a proof-of-stake (PoS) consensus algorithm. Under Casper, participants can become validators by locking up or staking ether. Validators will take turns proposing and voting on blocks, and both the weight of their votes and the size of their rewards will hinge on the size of their stakes. According to developers, moving to Casper will greatly reduce the amount of electricity wasted through PoW mining. In addition to limiting its environmental impact, PoS will allow ethereum to dramatically reduce its rate of currency inflation since validators will have much lower overhead and will thus require smaller rewards to incentivize them to continue to serve as validators. Moreover, PoS will also reduce the incentive that validators have to centralize their influence. With decreased centralization comes increased security and, importantly, resistance to dreaded 51 percent attacks. Ethereum is not the first project to attempt to integrate a PoS consensus algorithm. However, most previous PoS implementations have been criticized Continue reading >>

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