Decred

Decred is an autonomous digital currency.

home link https://www.decred.org/

reference material Whitepaper.pdf

Community

Market
34,215.06 KRW
Exchanges that listed the coin
20
Symbol
DCR
Dapp
To be released
Project introduction

Decred is a cryptographic currency based on an Equity Participation Proof (PoSW) summing algorithm that combines Proof of Work (PoW) and Proof of Equity (PoS). We aim to solve the block-chain governance and create a platform out of the influence of third parties through decentralized decision-making and self-financing.

Executives and partners
There is no executive team information at this time
Please leave a message of support for the team

There is no partner information at this time
Please leave a message of support for the team

go to leave a message

Latest News

There is no news posted at the moment
Please leave a message of support for the team

go to leave a message

Medium

Decred Journal — June 2019

Decred Journal — June 2019“Anomaly” by @saenderJune’s highlights:Budgets approved on Politeia for Ditto (PR), the bug bounty program, open source research, decentralized exchange specification and block header commitments consensus change that will boost SPV security and pave the way for other improvements.iOS Wallet v1.0 released on the App Store on Jul 10.dcrdata v5.0 released. New charts and data visualizations for exploring Decred data, improvements in performance, security and architecture.Smoother experience for contractors submitting invoices with bug fixes and UI improvements in the Contractor Management System (CMS) — an important milestone in rolling out the DCC and financial reporting.This month saw some high profile podcast appearances and an increase in Decred mentions in articles and on social media. The #DecredChallenge is gaining some traction and encouraging people to look into Decred, understand it, and discuss whether it deserves a more prominent position in the cryptocurrency space.Developmentdcrd: Code maintenance and more test coverage.Several modules upgraded to improve organization and code quality. Version 2 of the dcrutil module introduced to reduce coupling and prevent subtle bugs in handling addresses. A large change to introduce v2 of chaincfg module completed. Benefits from this include: reducing the surface of the critical consensus code by defining block 1 payouts as scripts instead of addresses, removing undesired side effects upon importing the package and improving organization of network parameters. Version 2 of the txscript module also introduced to use new versions of chaincfg and dcrutil modules. The opportunity of the version bump was taken to also address several issues in the v1.Overhaul of the background template generator covered in May issue was merged.These large code upgrades are done very carefully. First, a new module version is introduced, then depending modules are gradually updated to use the new version. At all times, everything must build and pass all tests, and each commit must be maximally reviewable.Among other smaller improvements, support was added for the generation of Ed25519 TLS certificates on Go 1.13.dcrwallet: Bug fixes and incremental improvements.Default TLS curve changed to a more secure P-256. Support added and enabled for Ed25519 TLS certificates by default on Go 1.13.Ticket handling improved by the addition of ticketbuyer.limit flag to limit max tickets bought per block and corrected lockedbytickets balance calculation to address several issues for solo, VSP and split ticket voters. An RPC fix will allow VSPs to show immature tickets separately. Several new wallet address APIs added to simplify the development of address-related features.Work is in progress to allow arbitrary xpub account imports. This feature will improve privacy by allowing the automatic ticket buyer to derive unique voting addresses, avoiding address reuse.Decrediton: Work on LN wallet integration continues. Internal improvements to handling configuration, bug fixes and maintenance.PoC underway to use a finite state machine to better manage complexity and improve correctness during startup.Politeia: A plugin structure has been added to the Politeia user database that makes building generic applications on top of Politeia’s web server (politeiawww) easier. This will allow applications to more easily store application-specific user data (such as data from the Contractor Management System (CMS)), while still re-using the main user routes. A generic dcrdata websocket implementation has also been created, making it easier for applications building on politeiawww to monitor address balances and other blockchain data.A number of incremental improvements and bug fixes related to the CMS, an application running politeiawww that reuses much of Politeia’s frontend. Friction in the process of submitting invoices has been significantly reduced. The CMS has been in production processing contractor invoices since early May.A full Politeia redesign to clean up the UI and make it consistent with Decred branding is underway and should launch within a month or so.An issue with duplicate votes was identified and fixed in May, but missed in the May issue of the Journal. 15 duplicate votes on the Decentralize Treasury Spending proposal made it into the Politeia journal repository, due to a bug with how incoming votes were checked against the memory cache, with concurrent votes being added before the cache was re-checked. The bug was identified as soon as the first duplicate vote was submitted and was quickly fixed.Progress was made towards running multiple Politeia instances concurrently, making email optional and public reporting on expenses.dcrstakepool: VSP software is getting more love in the recent months. Following the redesign in May, there was a lot of refactoring work to achieve proper layer separation between the components that will also have a small bonus for security and performance.dcrlnd: Work continues to port upstream changes from the lnd repository. Approximately 190 (of 270) of the PRs merged into lnd since dcrlnd branched off have now been incorporated, including many bug fixes and two important features: safe backups for off-chain data and watchtower clients for breach protection and retribution.In response to a question about BTC-DCR swaps on LN, @matheusd clarified the state of multiple elements of the puzzle.dcrandroid: Minor bug fixes and UI improvements, new translations to Spanish and Portuguese (BR), and a new send and estimation function.dcrios: v1.0.0 is released on the App Store after 6 months of active work!Initial release is available in English, Russian and simplified Chinese, with more translations to come. Bugs reported in Release Candidate 1 and Release Candidate 2 have been fixed and minor UI tweaks have been implemented.Congratulations to dcrios team: macsleven, itswisdomagain, collins, ensoreus, rktr09 (developers), DZ (design) and all the testers.dcrdata: A major release, v5.0 is now live. In addition to architecture, security, and performance improvements, v5.0 introduces a number of new charts and visualizations for exploring Decred data.A new market page shows data from several major exchanges, including aggregated DCR price feeds, order book depth, candlestick charts, and more. The proposals page is out of beta, and showing stats and voting charts (real-time and historical) for all Politeia proposals. Missed votes chart shows an important network health indicator.Architecture improvements include an upgrade to PostgreSQL (lite mode has been removed), improved database schema versioning, a refactoring of the dcrd notification pipeline, experimental support for CockroachDB, block-prefetching by default, and a new pubsub module version with address subscriptions.Charts should also load faster with performance improvements, including improved memory management and a new pre-encoded charts caching system.For a full list of changes, see the Release Notes.docs: Instances of “DAE” (Distributed Autonomous Entity) have been replaced with “DAO” (Distributed Autonomous Organization). A new page adds details on how the algorithm used to pseudorandomly select tickets for voting works.Other:Decred binaries are now mirrored on IPFS in case GitHub/AWS become inaccessible. If you run IPFS nodes feel free to pin the hash for added redundancy and better performance for downloads. There are also 3 HTTP gateways listed so people who don’t use IPFS can also access the files. The latest IPFS hash will always be listed here: dcr.jz.bz.Decred binaries and videos are also mirrored on Keybase.Source code is mirrored on GitLab.dcr-setup: voting wallet setup script for Debian and RedHat based Linux distros.Dev activity stats for June: 283 active PRs, 321 master commits, 62K added and 29K deleted lines spread across 15 repositories. Contributions came from 1–8 developers per repository.PeopleWelcome to new first time contributors with code merged to master: Marton (politeia), Amos Ezeme (dcrandroid), Quadri Anifowose (dcrandroid), Lore (dcrandroid).While @DZ’s commits merged in dcrandroid were detected as first time, it should be noted that he is a longtime Decred contributor.GovernanceIn June the Treasury received 15,135 DCR and spent 6,657 DCR. Using June’s daily average DCR/USD rate of $28.90, this is $437K received and $192K spent. As these payments were for work completed in May, it is also informative to consider them in the context of the May average daily rate of $27.71 — in which case the USD received/spent figures are $419K/$184K. As of Jul 1, Treasury balance is 622,472 DCR ($18.36 million USD at $29.50).Below are the status of proposals as of Jul 1.The following proposals were approved:Decred Bug Bounty Proposal: Phase 2–93.5% approval, 31.5% voter participationDitto Communications Proposal for Decred: Phase 2–75.8% approval, 29.2% voter participationDecred Open Source Research proposal: Phase 2–90.2% approval, 32.4% voter participationDecentralized Exchange Specification Document — 98.4% approval, 30% voter participationBlock Header Commitments Consensus Change — 99.2% approval, 33.5% voter participation. Commenters in the proposal and on Reddit appreciated how the proposal has sections for both technical and non technical audiences, and also noted how Decred’s on-chain voting systems allows for elegant updates without years of fruitless discussions.There were 2 new proposals published:Supplemental Proposal For Decred Tutorials By Denni Lovejoy. This proposal asks for the original budget of $750 for tutorial videos to be increased to $7,500. @Denni Lovejoy has asked for the proposal to be abandoned following comments opposing it. There is some ongoing discussion about how to handle these scenarios where work on a proposal goes significantly over budget.Decred Media Campaign Proposal — Crypto Economy — 2019/2020. This proposal requested $33,600 to promote Decred in a number of ways, including banner advertisements, press releases, a Decred giveaway and a newsletter. Comments remarked that some of these are already being well covered and others are not desirable. The proposal was then abandoned by its owner.This graph shows Politeia voter participation for the 28 proposals that had finished voting thus far.For a more in-depth review of what’s been happening on Politeia, check out the two issues of Politeia Digest published in June.Following questions on Reddit, Exmo posted a short update and went on to list DCR on Jun 18.A number of posts on the r/decred subreddit have sought to poll the Decred community about the optimal Politeia approval threshold, renaming Decrediton to Declaration, calling Decrediton something other than a wallet, and asking whether Decred should start using DAO instead of DAE to describe the decentralized stakeholder governance of the project.The last poll (to rename the DAE to a DAO), can be considered a “soft proposal” by @s_ben. The rationale behind this proposal being that, while the name DAE (Distributed Autonomous Entity) was originally chosen to avoid association with the Ethereum DAO hack, DAOs have since become a hot topic in crypto, with little association in the popular imagination with the DAO hack. Because Decred arguably has a more legitimate claim on this term than other projects, having already built a functioning DAO (which is producing this newsletter), it makes more sense to be part of the conversation. A Politeia proposal was considered. However, there were no objections to the change in various comm channels (as captured in this comment), and the rough consensus was that, barring any strong opposition, such a change did not require a Politeia proposal. @s_ben has changed references in the docs and has submitted a pull request to change the term on decred.org. Activity and discussions of this move are tracked in this issue.While some of these polls and the discussions around them have been interesting, it has been noted by community members that there are problems with using Reddit and polling sites to gauge the opinions of Decred stakeholders. These platforms are open to people who are not stakeholders, and allow for the polls/posts to be arbitrarily deleted or modified by their creator. In discussion about this phenomenon there seems to be strong support for a Decred’s version of Reddit, based on Politeia, which would allow for a limited number of ticket-voter polls to be created.NetworkHashrate: June’s hashrate opened at ~504 Ph/s and closed ~540 Ph/s, bottoming at 369 Ph/s and peaking at 607 Ph/s throughout the month. Pool hashrate distribution as of Jul 2: lab.antpool.com 18%, UUPool 17.7%, F2Pool 14%, Poolin 9.5%, BTC.com 9%, Luxor 2.2%, CoinMine 0.21%, BeePool 0.15%, suprnova 0.03% and others 29% per dcrstats.com. Pool distribution numbers are approximate and cannot be accurately determined.Staking: 30-day average ticket price was 120 DCR (+4) per dcrstats.com. The price varied between 116.8–127.3 DCR. Locked amount was 4.75–4.84 million DCR, which corresponded to 48.01–49.03% of the available supply.Nodes: throughout June there were around 200 listening nodes and 340–510 total nodes per dcr.farm. As of Jul 8, roughly 80% run v1.4.0, 9% run dcrwallet v1.4.0 (SPV) and 4% run v1.5.0(pre) dev builds.dcr.farm received a new Lightning Network dashboard. As of Jul 8, the DCR testnet LN shows 15 nodes, 45 channels and a total capacity of 370 DCR.On Jun 27 DCR supply crossed 10,000,000 DCR. 10 million DCR distributed means the genesis premine accounts for 17% of currently circulating DCR, so far PoW miners got 50%, PoS voters got 25% and the Treasury got 8%.There were support requests from ticket holders saying that their tickets have been missed by certain VSPs. Upon investigation, it was discovered that Grassfed and d1pool have been forked off from the network and have missed voting on their tickets. Grassfed has responded and promised to keep up with future updates. We have been unable to reach d1pool and discussion is currently underway to remove them from the list of VSPs at decred.org.There has also been an issue and a chat on how these issues can be avoided in the future. Another discussed idea was a sustained effort to get more people set up their own voting wallets.IntegrationsExmo delivered on their proposal and enabled DCR/BTC, DCR/RUB and DCR/UAH pairs on Jun 18.Vertbase added recurring orders and an option to sell digital assets for USD for US customers.EliteX listed DCR and wrote an article to explain Decred to their users.MXC Exchange added a DCR/USDT exchange pair.Bleutrade announced DCR to be delisted among a mass cleanup planned on Jul 15 — the second delisting run this year (discussion). Bleutrade was very supportive of Decred. It was the first to list Decred and it did so on the very first day of the network on Feb 8, 2016.Decred’s part of the Trust Wallet integration is nearing completion. Approved by voters in March, this proposal split work between the Trust Wallet team, which was tasked with the core wallet integration (complete), and Decred, which was tasked with integrating with and hosting the Blockbook server that Trust Wallet uses to host transaction data.Warning: the authors of Decred Journal have no idea about the trustworthiness of any of the services above. Please do your own research before trusting your personal information or assets to any entity.OutreachProgress continues to be made on outreach, with a big focus on education and making it easier to learn about Decred. There is concrete work being done to establish a social media playbook that will enable every community member to contribute. Checkmate has emerged on Twitter, introducing the #DecredChallenge hashtag and challenging everyone to study Decred for 30 days and explain why Decred shouldn’t be #2 by market cap. Results have been very positive, and Decred social media activity and effectiveness have picked up significantly. It’s very important to like and comment on Decred stories, as that increases the reach and enables more stories to be written.Building on education, website work is coming close to production, with a new introductory video and new subpages on Secure, Adaptable, Self-Funding, History, and a general repository on education. This work will help support community growth by making it easier to understand Decred.@anshawblack released Decred in Depth podcast episodes featuring @lukebp and Joel Monegro. @Dustorf and @jy-p recorded Decred Assembly episodes, including Decred Distributed with @akinsawyerr featuring Decred in Africa, Deep Dive with @moo31337 on the Treasury proposal, and Decred Distributed with @richardred. The latter two episodes will be released shortly.Various events are being planned across the world, including Germany, Japan, China and Toronto. The project has funding for a major event in Europe and Asia in 2019, and has not yet made a specific commitment. Please share in #event_planning if you have specific ideas. We rely on the community across the world to help identify and execute opportunities.Decred has made significant progress on the issue of governance. The staking byline in CoinDesk is a precursor to the Decred governance manifesto, and @akinsawyerr spoke at the Wharton Governance conference alongside leading speakers in the field. There was much discussion of Decred and it was widely respected as a pioneer and leader in governance. Decred has been invited to speak at the next such conference in Japan.Ditto’s June achievements:Facilitated an introductory interview on governance and staking between @jy-p and CoinDeskFacilitated an interview with Legacy Research analyst Greg Wilson and @moo31337, who gave an overview and update of Decred, geared towards an investor audience.Secured and staffed Off the Chain podcast with Anthony Pompliano, founder of Morgan Creek Digital, and @jy-p.Secured and staffed Chain Reaction podcast with Tom Shaughnessy of Delphi Digital, and @jy-p.Got Decred quoted on Facebook Libra in CNBC, Mashable, CoinTelegraph and Forbes (twice!). Side note: CNBC and Mashable are mainstream media reaching people who know little about crypto. By getting Decred in front of them, we’re significantly expanding its reach.Got @jy-p quoted on governance in CoinDesk.Got @richardred quoted in a CoinTelegraph article about CCN’s “shutdown”.Attended San Francisco Bitcoin meetup, where the organizers expressed interest in organizing a governance panel with Decred as a speaker.Created a social media guide on how to react (or not) to geofencing or delisting.Rallied the community to engage and share media coverage on social media.Submitted Ditto Communications Proposal: Phase 2 to Politeia, participated in discussion and then saw the proposal approved by the Decred stakeholders! Thank you for your vote of confidence. It’s an absolute joy working on Decred, and we look forward to the next 6 months.EventsAttended:5 Jun — Decred x Blueyard — Berlin, Germany. Full report by @Haon is here.11 Jun — Decred and industrial uses for Blockchain — La Paz, Bolivia. @elian gave a talk to 50–60 engineering students of Higher University of San Andrés. (photos)12 Jun — Decred: A Decentralized Autonomous Entity — Washington DC, USA. The event had about 11 people in total in attendance. @akinsawyerr gave an overview presentation on Decred and answered questions from the audience. The event was co-hosted by TechSpace Balston and the Dartmouth Entrepreneurial Network of DC. A lot of questions were asked about our governance process, how we pay and manage contractors, and how Decred differed from platforms like Ethereum from a participation/contribution perspective.13 Jun — CryptoMeeting — La Paz, Bolivia. @elian gave a talk on blockchain governance to a local crypto community. (photos)18 Jun — TF Blockchain — Portland, USA.18 Jun — NetEase — Wuhan, China. @Dominic introduced Decred’s unique funding profile and the upcoming DAO. (photos)19 Jun — Reston Virginia Golang meetup — Reston, Virginia, USA. The event had 21 people in attendance, mostly developers. @akinsawyerr gave an overview presentation on Decred and answered questions from the audience. The event was hosted by Comcast. Most of the questions were of a general nature around how to acquire cryptocurrencies, understanding the basic terminology, and the potential economic impact of cryptocurrencies. Post the event a participant asked to know more about what Decred has built leveraging Golang, there is a desire to see actual code demos etc.19–23 Jun — Campus Party Brasilia — Brasilia, Brazil. Decred was well represented for another year at Campus Party. @matheusd has written up a report in chat, describing a successful event where Decred had a strong presence and participated in 3 different activities (crypto for kids play time, an LN paywall workshop and participation in a main stage panel). (video)20 Jun — Beijing Decred Meetup — Beijing, China. Decred was represented by @changhugo and @Dominic. The event was attended by 100 people and live streamed to over 4,000 viewers. Full report by @changhugo is here.26 Jun — SF Decred Devs x Coinbase Custody Happy Hour — San Francisco, USA. (photos)28 Jun — Community Update on all things Decred — Melbourne, Australia.Upcoming:11 Jul — Fireside Chat with Joshua Buirski — New York, USA. Co-hosted by Staked and TokenTax.24 Jul — Decred Meetup — Chicago, USA.The revamped event reports repository is now at 14 decent reports. Please submit your reports and share them on Reddit/Twitter to expose how much event action is happening every month.MediaDitto’s PR guidelines have been collected in a new repository, currently including Foundational Messaging, Ticket Messaging and Engagement Guide how to react to delisting/geofencing.A new community wiki repository was started for any knowledge that doesn’t fit decred.org or the docs. The first created page is a comprehensive list of Decred social media groups.Selected articles:The Blockchain Governance Quadrant by @Haon (medium)The Regulators Are Coming — Canary in the Decred Hash Mine: Part I by u/Fiach_Dubh (medium) — see also discussion on Reddit.Why the Name Decred is Awesome by @Haon (medium)The Roadblocks to Cryptocurrency Adoption in Africa by @George Pro (medium)Decred Australia — Building a Community Brick by Brick by @zohand (medium)Staking Isn’t Just a Way to Earn Crypto Money — And It Shouldn’t Be by @jy-p (coindesk.com) — also in Korean.The Lowdown on Decred by EliteX Exchange (medium) — EliteX exchange interviewed @changhugo and wrote a short overview which they published at the same time as listing DCR.Cryptocurrency: A Mistaken Identity by @nnnko56 (write.as) — this article considers cryptocurrencies as being more than that label implies, and argues for a broader understanding of these projects as having important social components, or “cryptosocieties”.Translations:Decred as a DAE Infrastructure Provider — in Italian and in Russian by @DZ.Decred Foundational Messaging — in Vietnamese by @duyenemdo.Decred: Where did it all begin? — in Arabic by @arij and in Vietnamese by @duyenemdo.Why the name Decred is awesome — in Arabic by @arij.New Decred Journal translations — in Arabic by @arij, in Chinese by @guang and others, in Russian by @DZ, in Spanish by @elian, in Vietnamese by @duyenemdo. It’s getting hard to list them all here (nice problem to have!), see all translations on the index and mirrors pages.Reminder: there is an effort to build an index of all translations and collect statistics of time it takes to produce them. Please submit yours.Videos:Decred Assembly: Deep Dive: DEX (youtube)Decred at Consensus 2019 (youtube) — @jy-p gives an update on the Decred roadmap.Audio:Decred in Depth — Ep. 2 Luke Powell — Politeia + dcrtime (soundcloud, youtube)Decred in Depth — Ep. 3 Joel Monegro — Placeholder Capital DCR Investment Thesis + Governance (soundcloud)Decred Distributed: Africa with Akin Sawyerr (youtube)Hacekernoon Podcast E55 — The Insights of Building Decentralized Infrastructure with Jake Yocom-Piatt from Decred (hackernoon.com, youtube)Off the Chain with Anthony Pompliano: Jake Yocom-Piatt, Project lead for Decred: Crypto Ego Management (player.fm)Chain Reaction with Tom Shaughnessy: Decred’s Co-Founder Jake Yocom-Piatt: Governance-First Crypto Aims to Challenge Bitcoin (youtube, player.fm, podbean.com)Inclusionism: Guest Akin Sawyerr on African Blockchain (jamesfeltonkeith.com, Decred talk starts 38 min in)Decred Russia podcast by @DZ (soundcloud, in Russian)Community DiscussionsCommunity stats as of Jul 1:Politeia users: 189 (+14)Twitter followers: 40,479 (+17)Reddit subscribers: 9,505 (+46)Matrix users: 364 (+27)Slack users: 6,769 (+48)Discord users: 2310 (+53) verified to post: 246 (+20)Telegram users: 3,407 (-169)YouTube subscribers: 3,787 (+18)Facebook followers: 3,230 (+11), likes: 2,964 (+10)LinkedIn followers: 567 (+23)GitHub dcrd stars: 494 (+5), forks: 1,337 (+13)Comm systems news:Several Matrix rooms were upgraded following the first stable release of the Matrix protocol. Users have to join new rooms but the process is very straightforward and all history is preserved.Hot Matrix/Riot features in development pipeline are: editable messages, reactions, threads and better device verification UX for end-to-end encryption.Selected Reddit posts:A post asking if Matrix-like channel discussions posted on Reddit would increase adoption & education.POLL: optimal Politeia pass threshold — 57% said current level is OK, 7% said less than 60%, 26% were in favor of increasing the approval threshold.POLL: Rename Decrediton to Declaration — has a score on Reddit of 0, which should probably be interpreted as a lack of support.Question: Is a hybrid finance & governance tool called a “wallet” or something altogether different?POLL: Rename DAE to DAO? — had a score of 15 and top comment says “I support changing it to DAO” with 8 points. See also this comment with notes on support from chat discussion.Selected Twitter discussions:More wild not-quite-maximalists were spotted on Twitter this month, people who would consider themselves Bitcoiners but who also have a fondness for Decred. Apparently there are more of these closeted Decred fans, who dare not speak out about the cred because it would result in a loss of status in their circle.@Ammarooni thread about how “Bitcoin is addressing structural shortcomings of fiat money that aren’t immediately visible to the naked eye, but will become prominent over time. Decred is addressing the shortcomings of Bitcoin that aren’t prevalent today, but may become manifested over time.”@_Checkmatey_ tweeted a thread about Decred as a digital organism driven by a human hive-mind with skin in the game, then went on to compare its stock-to-flow with Bitcoin’s and finally issue a challenge to all Bitcoiners: spend one month studying Decred and come out believing it is not a worthy number 2 to Bitcoin.@CryptoBrekkie created an interesting poll which received 720 responses. “So I’ve noticed a trend among some maximalists lately expressing a desire for a real, sound money competitor to Bitcoin, a rival that could ultimately help Bitcoin level up. I’ve also noticed many maximalists have a soft spot for @decredproject. Could Decred be that competitor?”. 36% of respondents said Yes, 52% said No.MarketsIn June DCR was trading between USD 24.77–37.06 / BTC 0.0026–0.0035. The average daily rate was $28.90.On Jun 22 Bitcoin crossed $10,000 and in a matter of days rose up to $13,670 in some markets. This caused most alts including Decred to go down against BTC.Relevant ExternalFacebook published the Libra white paper on Jun 18, and this dominated blockchain news and discussion for a spell more than any other subject has for some time. Quotes from @jy-p were featured in a number of articles about Libra on high profile sites (see Ditto update above), questioning Facebook’s track record and whether inviting them to also handle our financial transactions is a good idea. We will not revisit the discussion of Libra here, except to note that the white paper addresses how it will be governed — through an association where validators (approved organizations that provide the necessary capital) vote to make decisions. 21 organizations, mostly large multinationals, were announced with the white paper, with an aim to have 100 signed up before Libra launches. It will be interesting to see how a distributed ledger operated by 100 (mega-)corporations behaves in comparison to the one operated by the Decred stakeholders and their ~40,960 tickets.Parity Technologies released an alpha version of Zebra, an alternative Zcash node implementation written in Rust. The codebase has been handed over to the Zcash Foundation. Parity first announced plans to build an alternative node in Oct 2018. Zebra was derived from Parity’s Rust Bitcoin implementation and will lay the foundation for a future Polkadot bridge.Dovey Wan announced that the “Hard Core Fund” has accumulated 50 BTC which can be used to pay Bitcoin developers, and described the search for sustainable funding for Bitcoin developers as the biggest challenge facing the ecosystem in 2019. The fund makes payments to approved Bitcoin contributors when they send monthly reports about what they have worked on.Another funding event for Bitcoin was two privacy projects, Wasabi Wallet and JoinMarket, getting awarded grants of 10 BTC each from a bounty fund created in 2013 to incentivize work on CoinJoin. The fund is a 2-of-3 multisig controlled by Greg Maxwell, Theymos and Pieter Wuille.The Bitcoin Cash Development Fund also announced good progress on a development funding drive, with 760 BCH of a targeted 800 BCH raised from 900 donors.Grin is attempting to iterate towards a less centralized form of governance, after recognizing that the absence of formal governance processes plus the need for trusted contributors to manage shared resources (donated funds) has led to a de facto centralization of responsibility for the project. The Grin council is to become the core team. A Request for Comment process is being introduced through which feedback is sought on proposed development work. Sub-teams will organize independently with their own leaders.Zcash continues to move towards a method of funding development long-term through a portion of the block reward, likely 10%. Zooko (CEO of Electric Coin Company) has stated that the ECC needs 12 months of runway to function and if no continuation of funding for ECC is established one year before the founder’s reward, then ECC will have to consider pivoting to other projects which can generate revenue. Zooko has also expressed the opinion that the ECC should not take the lead on deciding how this funding mechanism should work, and that it should be more decentralized than the current setup. Zooko has been looking at Decred’s governance as part of this process: “In a voting system with lots of cold coins, like Zcash, I would expect a good turnout to be around 1%.”.Monero Community Crowdfunding System is funding 3 audits of the new PoW algorithm, following a process in which 20 participants in the #monero-dev IRC channel voted to prioritize the audits. A CCS proposal was created which covers all 3 audits (costing $18K, $47K and $53K respectively), with audits being greenlit as enough funds became available to pay for the preferred audits.Aragon Black published an article about Aragon Fundraising, which will be coming to mainnet in a few months. This is a platform for conducting Decentralized Autonomous Initial Coin Offerings (DAICOs, a concept initially described by Vitalik Buterin). Individuals who invest in a DAICO will receive tokens which grant them voting rights and some degree of ownership of the DAO’s assets (which may come to include tokenized rights to intellectual property).MakerDAO will be voting to determine the order in which 7 pre-selected assets will be proposed for review and ratification as part of the multi-collateral DAI upgrade.Arthur Breitman, Tezos founder, published a blog with a design for a “simple and evolvable on-chain treasury”. As a starting point, he suggests that funds be collected in a 3-of-5 multisig contract where the signatures are controlled by reputable parties. From there, the treasury could evolve into a system with many participants where proposals are made on chain. Sounds familiar.There has been some friction between the developer groups working on Tezos software. The OCamlPro team introduced a proposal to fix a security issue and reward themselves from inflation funding — at a time when the other developer teams had agreed to wait and inject a proposal at a later time. OCamlPro’s “early” submission means that the bakers will likely vote it down and thus it will take longer before the “real” proposal is submitted. OCamlPro appeared to be feeling frozen out by the other teams, having submitted a bug report and failed to receive acknowledgment. Subsequently, Tezos commons published an article which purportedly uncovers details of a plan by OCamlPro to fork the Tezos chain and capture part of the Tezos community and market capitalization — and speculates that the OCamlPro team are acting to destabilize the Tezos community ahead of this move.An anonymous user claiming to be a current or former employee of Chainalysis participated in an AMA on r/Bitcoin, subsequently deleted but archived here (thanks u/Fiach_Dubh). The answers suggested that Bitcoin privacy techniques like CoinJoin and Wasabi wallet, and all of the coins with privacy features, were hated by Chainalysis, and did not see a bright future for blockchain forensic analysis.Speaking of CoinJoin, the community of privacy-centric Wasabi Wallet performed a 100-user CoinJoin transaction which might be the biggest to date. The more transactions in a CoinJoin, the more privacy everyone gets, but coordinating so many people is a challenge.FATF has finalized its recommendation for handling crypto. Per the new standards, businesses like exchanges and wallet providers must obtain and store information to identify both sender and recipient, and exchange this information with each other like banks do (the “travel route”). Member countries have 12 months to adopt the guidelines which will be reviewed in June 2020. The recommendations are not binding but non-complying countries risk being put on a blacklist.Some experts warned FATF that the new standard “could have the unintended consequence of ‘encouraging P2P transfers via non-custodial wallets…’” (which sounds strikingly familiar to the intended way of using crypto). Another quote from CoinDesk on this possible dynamic: “a common concern is that new regulations could push the public out of controlled platforms”.The recent spate of geofencing continued, with Bittrex stopping US customers from trading 32 assets (DCR unaffected), and Gate.io restricting 19 assets for US customers (including DCR).Binance is stopping service to US customers via their global binance.com site, while announcing that they will launch a separate US-based service.Bancor is going to block access for US users to its web application for exchanging assets.The Indian government is considering a draft bill which would criminalize those who mine, hold, or transact with cryptocurrencies, with stiff penalties of up to 10 years in prison and fines amounting to 3 times the perpetrator’s gains.The Bitsane exchange, made famous by CNBC in a broadcast tutorial on how to buy XRP, appears to have pulled an exit scam and disappeared, along with the cryptoassets of any unfortunate users who were storing their crypto on the exchange.A vulnerability in certain YubiKey products allowed an attacker to guess private keys.Ad blocking browser extensions like uBlock are about to get hit by new Google Chrome restrictions. The move was controversial, partly because the stated intent to protect users from malicious extensions also restricts their ability to block unwanted and dangerous web content.The rate of SIM swapping attacks is increasing, educate yourself and do what’s necessary to protect your accounts.Komodo team exploited a bug to capture $13M of users’ KMD and BTC during a preventive white-hat counterattack. Komodo’s version of Agama wallet was targeted by a hacker who spent months making useful contributions before inserting a dependency that steals wallet seeds. Malicious package was detected by the npm security team who wrote that this attack is becoming more popular: publish a “useful” package, wait until it is used by the target, and then update it to include a malicious payload. After being notified by npm, the Komodo team decided to use the same exploit and managed to safeguard the majority of vulnerable funds before the hacker could steal them. Affected users can submit a Google Form to claim their funds. Not identical but related incidents happened earlier when an npm package was infected to steal coins from Copay wallets that used it, and when a bounty hunter added an inflation consensus bug to Bitcoin Private. These incidents show that it is crucial to carefully vet and verify contributors and to audit not only your own code but also all dependencies and all of their updates (which is not a small task).Who would have thought that a 27-year old text editor can still have an arbitrary code execution vulnerability? This is a reminder that correctness is hard and why it takes so much work to build and test robust software.About This IssueThis is issue 15 of Decred Journal. Index of all issues, mirrors and translations is available here.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 and contributions are welcome on Reddit, GitHub and Matrix.Credits (alphabetical order):writing and editing: bee, cryptoleslie, degeri, Dustorf, kozel, lukebp, richardred, s_benreviews and feedback: jholdstock, jz, Haon, matheusd, raedahtitle image: saenderDecred Journal — June 2019 was originally published in Decred on Medium, where people are continuing the conversation by highlighting and responding to this story.

Decred

19. 07. 11

Why the name Decred is awesome

Several people have questioned the name “Decred” in the last three years. Their reasoning: investors will only invest in digital currencies with catchy names, and since “de” has a negative connotation they may ignore Decred.It seems that these people don’t understand what Decred really stands for. Decred is a blend word of “decentralized” and “credits”. But what exactly are “decentralized credits”? And why is it a great name for a digital currency? To find out, let’s dive into the history and future of money!A brief history of moneyIt is believed that money, as a store of value and medium of exchange, first emerged from the trade of animals and grain. This was followed by the arrival of commodity money during the Bronze Age, where commodities such as gold, silver, salt or shells were traded.Every object had two uses: the original purpose for which the object was designed, and secondly as an item to trade or barter. Bartering was a system where items were directly exchanged for other items. Because items exchanged weren’t always an exact match in value, it was common for people to be either left in debt or credit. As a result, some have suggested money was created to replace the need for barter.Anthropologist David Graeber argued against this suggestion. His research indicated “gift economies” were common during the beginnings of the first agricultural societies, where humans used elaborate credit systems. In this view, money emerged the moment when the obligation “I owe you one” transformed into the quantifiable notion of “I owe you one unit of something”.Either way, it was proto-money — items made of the precious metals (such as jewelry) — that eventually became most popular as store of value and medium of exchange. Precious metals were more divisible, portable and durable than commodity monies such as shells.While many people thought that gold and silver had value due to their scarcity and use case in jewelry, not everyone was of this opinion. In pre-revolutionary America, traders quickly learned that gold and silver were of no use to the people who originally lived there. Instead they used beaver pelts as a currency in exchange for items they needed.It should be clear that during these times there was no need to rely on any third party to store or exchange value. People were all in control of their own money. Money had value because people assigned and asserted it.Shells were used as commodity money.Back to realityEven though proto-money gained most popularity, it wasn’t without issues. Gold and silver weren’t always easily divisible, and it was difficult for the average person to verify the weight and purity. This often led to fraudulent metals being circulated, such as pyrite (fool’s gold).As a consequence, authorities such as kings, emperors, and governors began minting gold and silver bullion coins, to be used as a medium of exchange and store of value — the dawn of standardized coinage.Minted coins brought about a number of improvements to money. It meant money could change hands in a more secure manner, with much less frequent need for weighing. Furthermore, although these coins were not always identical — most bearing their own unique imperfections — they did bring about a vast improvement in fungibility compared to proto-money. For this reason, civilizations quickly adopted and became reliant upon minted coins.Bankers began to hand out notes of credit for gold or silver coins deposited with them. These receipts included the name of the depositor and promised to pay him or her on demand. At some point the words “or bearer” were added after the name of the depositor, which allowed notes to change owner.The benefit of not having to trust or rely on third parties when exchanging and storing value had to be traded off against the requirement for money that was easy to use. It could now be divided into small, transportable units with a specific authenticated value.One thing led to another, and here we are, carrying around worthless metallic discs and pieces of paper in our wallet that the authorities control entirely. This type of money is known as fiat money.Fiat money is a currency that has been established as money, often by government regulation. It only has value because an authority maintains its value.The future of moneyWhen we consider the future, we often look at science-fiction (Sci-Fi) stories and movies. While comic books and novels do not accurately predict the future, they often offer a surprisingly relevant insight into things to come.The use of “credits” is common in futuristic Sci-Fi settings. In fact, there is a well know cliché pointed out by the popular futurist and comic book writer Sam Humphries, who said: “In any science-fiction movie, anywhere in the galaxy, currency is referred to as credits”.The first use of “credits” in Sci-Fi can be traced back to the novel “Galactic Patrol” by Edward E. Smith, first published in 1937. Smith wrote “Bid, one thousand credits per packet of ten. Offered, none at any price”.The first published explanation of what a “credit” represents was in the science fiction novel “Space Viking” by Henry B Piper, published in 1962. Piper wrote, “Our currency is based on services to our society. Our monetary unit is simply called a credit”.In the popular Star Wars movies, the concept of “credits” is also used and presented as a form of electronic money.Back to the futureToday, money has already entered the digital realm: fiat money primarily exists on databases controlled by the banking industry. We use plastic cards with chips to exchange value and we have to trust our banks to carry out these transactions. In its physical form, fiat money is represented by metallic coins and banknotes, also referred to as cash.Luckily a new phenomenon is emerging: decentralized, digital money based on cryptography. This type of money — sometimes called cryptocurrency — represents something fundamentally different, something more versatile.The birth of cryptocurrency has eliminated the need to rely on authorities when exchanging value. We no longer need to use commodity money or fiat money to store or exchange value. We now have a choice.Cryptocurrency evolved from all previous forms of money:Its units are divisible, durable, portable and fungible.It is censorship resistant and secured by cryptography.It has guaranteed scarcity and a transparent rate of supply.However, a cryptocurrency is only as strong as its protocol and its social layer (a decentralized collective of miners, developers, investors, and users). Just like in the old days, we are again in control of our own money.Our money has value because we assign and assert it.In 2009, Bitcoin was the first cryptocurrency to launch. Early 2016, after identifying three fundamental challenges within the Bitcoin ecosystem and developing several unique features, Decred launched.Behind the name DecredLegend says that the early founders and organizers tacotime, _ingsoc and Jake Yocom-Piatt were brainstorming on the topic of “decentralized credits” when they thought of the name Decred.DecentralizedDecentralization is important for blockchain-based cryptocurrencies such as Decred, Bitcoin or Litecoin. The more decentralized a cryptocurrency is, the more resistant it is to censorship or control from a centralized entity. A decentralized network is more secure since it is harder to attack.The most valuable projects are those that have decentralized development, decentralized funding, and decentralized decision-making (governance). Decentralization is the missing piece of the puzzle that allows us to eliminate the requirement for a third party when storing and exchanging value.CreditsAlthough many people now associate “credit” with credit cards (or the ability to obtain loans), understanding its place in the history and future of money makes it all the more meaningful.Back when fiat money did not yet exist, credit systems were used to keep track of who owed what to whom. Much later, around the time of the global gold standard, notes of credit were issued as proof of stored value.Perhaps more interestingly, the concept of “credits” is commonly used to refer to money in futuristic Sci-Fi settings, for example in Star Wars.Decentralized creditsIt seems only natural that the most significant feature of cryptocurrency is brought together with a word that describes money as it once was — before third parties became involved — and as it has been envisioned for the future.ConclusionDecred (DCR) stands for decentralized credits. It has taken decentralization to a whole new level — it is money that is developed and governed by us! The Decred treasury ensures we no longer need to rely on authorities to give us a medium of exchange and store of value. We have decentralized credits.Who knows how far this project will reach? In a distant future, intergalactic travelers might pay for their drinks in DCR! 🚀This story was based on a text written by The Decred Digest:Decred: Behind the NameWhy the name Decred is awesome was originally published in Decred on Medium, where people are continuing the conversation by highlighting and responding to this story.

Decred

19. 06. 14

Decred Journal — May 2019

Decred Journal — May 2019May’s highlights:DCP4 activated. Decred’s mainnet is now ready for Lightning Network.iOS wallet’s first release candidate entered public testing.The first phase of 3 Treasury funded proposals (Ditto, Research and Bounty) are coming to an end, with recaps being published and proposals for further funding already opened for Ditto and the research program. A total of 6 proposals were submitted in May, with 4 open for voting in early June.Decred Assembly and Decred in Depth podcasts completed early production and released the first episodes. The Decred Distributed video features @elian, who later in May went on to cover 3 events in 7 days in Colombia and Uruguay, and provide detailed descriptions his experience at each.Developmentdcrd: Bug fixes, improved test coverage and test infrastructure.Work started to port several rearrangements from upstream btcd in order to reduce coupling and split blockmanager and rpcserver into their own packages.Another active area was mining code that is undergoing a series of code improvements and performance optimizations, e.g. to remove getblocktemplate and to require a valid template address.A major pending change to mining code that deserves a special mention is an overhaul of the background template generator (the function that miners call to receive templates to create blocks from). Currently, miners not familiar with the intricacies of Decred voting will occasionally produce valid blocks with the minimum 3 PoS votes, out of a possible 5. This is bad for PoW miners, who get a reduced subsidy for including fewer votes. This is also undesirable for PoS voters, who may not receive the PoS reward, despite having voted, simply due to propagation delay. To address this, the background template generator has been updated to add support for intelligent vote propagation, as well as a number of other features, such as better handling of chain reorganization to alternative blocks, a subscription that provides miners a stream of template updates, and consideration of the synchronization state as part of determining if the chain is current. It should be noted that this work only implements the infrastructure and does not yet expose this functionality in production.dcrwallet: Bug fixes, improved error handling, and simplified concurrent code and increased concurrent use of an unlocked wallet. Work started on CleanOutAccount feature, which is similar to SweepAccount but allows multiple transactions.Decrediton: Work on responsive design continues with a newly responsive Transaction/History view. Work continues on initial LN wallet integration.Politeia: Front end changes include an improved proposal list view, continuous loading of proposals while scrolling, and no more redirect when session expires — now a login modal window will pop up. The backend saw performance improvements and bug fixes, changes to the user database (user data at rest is now encrypted), and an updated API endpoint that allows non-admins to look up userID/username by public key. These lookups will allow for data about user comments and votes to be organized by user account rather than public key.Contractor management system (CMS) continues to receive a steady churn of improvements and fixes.dcrlnd: Work continues to ready Decred’s LN for mainnet, with bug fixes, improvements to integration tests, increased test coverage, and removal of unused code.Work has begun to reduce coupling with dcrwallet and to port Docker-related lnd files to dcrlnd to enable easier tinkering and development by the community. A quickstart guide has been started for knowledgeable individuals that want to get going faster. Work has also begun to port a lot of upstream changes made to lnd since dcrlnd branched off to begin the initial port.dcrlnd has been added to the Bug Bounty Program on an experimental basis, with caveats.dcrandroid: Minor bug fixes and UI optimizations, as well as a newly added send & estimation function. Code has been updated to be compatible with latest dcrlibwallet — a shared component reused by dcrandroid, dcrios, and godcr.dcrios: Release Candidate 1 of the iOS Wallet is ready for broader public testing. Development efforts ramped up in preparation for official launch. Bugs reported by users of the test app have been fixed, UI improvements have been made, and a large refactoring was performed to clean up the repository and improve test coverage. Apple Store release is imminent!dcrdata: A markets dashboard has been added to the alpha site with most relevant market information, such as: USD and BTC price and volume from top Decred markets, indexes of BTC/USD price, charts of order book depth, volume and market history.docs: Added new Security page that captures a lot of wisdom about secure computing, including system setup and OPSEC. The Transaction Details page was updated to include more information on Decred-specific transaction types, as well as a detailed example transaction. The Consensus Vote Archive page now has better flow and more data.decred.org: Updated the Roadmap page, minor content and UI fixes.Other:dcrstakepool (VSP software) received a redesign.dcrd successfully synced on RISC-V QEMU. RISC-V is a hope for a less horrible CPU architecture.Dev activity stats for May: 88 active PRs, 272 master commits, 52K added and 57K deleted lines spread across 15 repositories. Contributions came from 2–7 developers per repository.PeopleWelcome to new first time contributors with code merged to master branches: duyenemdo (dcrandroid), njirap (dcrdata), Nelson Dornelas Jr (politeiagui) and Youssef Boukenken (dcrtime).GovernanceIn May the Treasury received 15,616 DCR and spent 8,456 DCR. Using May’s daily average DCR/USD rate of $27.71, this is $433K received and $234K spent. As these payments were for work completed in April, it is also informative to consider them in the context of the April average daily rate of $24.22 — in which case the USD received/spent figures are $378K/$205K. As of Jun 1, Treasury balance is 613,840 DCR (17.3 million USD at $28.19).Below is the proposal status as of Jun 1.6 new proposals were submitted:Block Header Commitments Consensus Change by @davecgh, a proposal to move forward with a DCP and on chain consensus rules change. This change would allow to bring the security of SPV clients almost to the level of fully validating nodes. The proposal projects a cost of $20,000 to prepare the software and the DCP, to be paid from the core development budget.Ditto Communications Proposal for Decred: Phase 2 by @lizbagot, a proposal to continue retaining the services of Ditto at $25K/month in DCR for a further 6 months. The proposal includes a recap of the last 6 months and details a 5 pronged approach for the next 6 months.Decred Open Source Research proposal: Phase 2 by @richard-red, a proposal to continue funding the research program with $20,000, estimated to keep it going for 6 months. The proposal includes a report on the first 6 months activities, and a description of how the approach going forward will differ. The proposal also invites ideas about research projects in comments.Decentralized Exchange Specification Document by @jy-p, a proposal to move forward with the DEX by producing a “full RFC-style specification” of the processes involved. The specification would be completed by Company 0 working with @chappjc, @buck54321 and @jholdstock, at a cost of up to $20,000.Incentivizing BD Evangelists within the Decred Ecosystem by @betterfuture, a proposal to establish a “Decred Evangelists” business development team that would arrange co-development deals with partner organizations, and be rewarded with a percentage of any DCR contributed by those partners to the Treasury. The proposal was edited by @betterfuture on May 31 to say that it will be abandoned and re-submitted as two separate proposals, based on community feedback.A Journey to the Future of Work- Telling the DCR story through Politeia by @jer979, a proposal to write an article about Politeia and the author’s proposal submission journey. This proposal initially appeared to have good support, but after comments about @jer979’s past relationship with IOTA lost some of that support and was ultimately rejected with 48.6% approval (and voter participation of 44%, the second highest participation rate in Politeia’s history).While the proposal was rejected, @jer979 still published his journey on his website. In the article, he argued that “Contributor Experience” (CX) is important and compared proposal submission experience of DAOstack and Decred, outlining some friction points. Following an exchange on Twitter, @lukebp captured the feedback in a GitHub issue.1 additional proposal finished voting and was approved:Decentralize Treasury Spending by @moo31337, proposed a method of decentralizing Treasury spending with a monthly on chain vote to approve payments to contractors. It was approved with 97.5% Yes votes and participation of 22.5% tickets.The first constitution amendment has been applied on docs.decred.org.@degeri published a Bounty program status update on May 15, reporting that 49 submissions had been processed so far with 7 eligible for a payout.Politeia Digest has more in depth coverage of these proposals and associated developments, see issue 15 and issue 16 that were released in May.@pi_crumbs continues tweeting when new proposals are published, edited or start voting.NetworkHashrate: May’s hashrate opened at ~524 Ph/s and closed ~574 Ph/s, bottoming at 364 Ph/s and peaking at 626 Ph/s throughout the month. Pool hashrate distribution as of Jun 1: Poolin 20%, lab.antpool.com 18%, BTC.com 8.7%, F2Pool 7.7%, UUPool 7.7%, Luxor 2%, BeePool 0.86%, CoinMine 0.28%, suprnova 0.02% and others 35.4% per dcrstats.com. Pool distribution numbers are approximate and cannot be accurately determined.Staking: 30-day average ticket price was 116 DCR (-1.2) per dcrstats.com. The price varied between 109.7–124.7 DCR. Locked amount was 4.68–4.83 million DCR, which corresponded to 47.60–49.17% of the available supply per dcr.farm.Nodes: as of Jun 2 there were 270 public nodes. In that snapshot, 168 nodes were IPv4 with the following continent distribution: Europe 53%, North America 39%, Asia 7%. Top countries: USA 31.6%, Germany 14%, France 10%, Canada 7.8%, UK 5.4%, Netherlands 5.4%. Thanks to @chappjc for the snapshot.Another useful source of node stats is dcr.farm. Throughout May it shows a large variation in the count of v1.4.0 nodes (103–237), but it has a nice chart of node version history that gives a general idea that the network is mostly on v1.4.0+ now.The source we were using for node stats previously (dcred.eu) was shut down. We are thankful for all of the information it served to be recorded in the Journal, and sorry to see it go. A feature request to add similar stats to dcrdata is discussed here.Soon after the activation of the new consensus rules, there was a transaction that made use of the new rules. The nodes that did not recognize this transaction as valid got forked off the network and stuck on block 342,913. We had a steady stream of people dropping by on the support channels throughout the month as many of their wallets stopped syncing. There was no major network level outage observed.MiningMining pool ViaBTC announced that they now support Decred mining.IntegrationsHitBTC exchange added DCR/BTC, DCR/ETH and DCR/USDT pairs.Nomiddleman Crypto added Decred support to their WooCommerce plugin that allows to accept crypto payments to merchant’s own wallet addresses without involving third parties. Source code is available on GitHub.Ownbit (formerly BitBill) added DCR support in their cold wallet.Warning: the authors of Decred Journal have no idea about the trustworthiness of any of the services above. Please do your own research before trusting your personal information or assets to any entity.AdoptionTrippki.com announced DCR support in their hotel booking service.ADHOC, a company that focuses on ethical and privacy-respecting hardware and software announced that they accept DCR as a payment method. As of writing, ADHOC sells refurbished Samsung Galaxy S2 and S3 with software for private communications and Replicant OS (fully free Android distribution that once featured on fsf.org for finding a backdoor in a Samsung phone), Librebooted ThinkPad X220 with Tails, and a ebook reader. The products are mirrored on OpenBazaar store.Cryptwerk.com directory collected a list of businesses accepting DCR.OutreachDecred was busy in May laying the groundwork for a more decentralized operational rollout. Much of the work in May was focused in and around NYC Blockchain Week, where approximately fifteen community members got together with an extended group of exchanges, miners, institutional partners, and more. Decred Africa Telegram group was launched and coordinated a presentation at Blockchain Nigeria is Lagos on May 24. In NYC, various community members attended the Magical Crypto Conference on May 10–11, then Consensus the following three days. At Consensus, @jy-p presented a 30 minute update on Decred’s funding and roadmap as part of their Changelogs track. Additionally, @jy-p spoke later that day at Ditto PR & The Block’s first ever conference, Atomic Swap. @jy-p was on a panel with Beam, Dash and Orbs representatives, and the discussion focused on decentralization and governance. Decred coordinated a dinner with members of its Asian community and formulated a strategy to penetrate the Asian market, prioritizing China in the immediate term. @Dominic and @changhugo are planning an event to host and promote a meetup in Beijing in the near future, and Decred is working on a plan to host an event in Signapore, potentially in September.@anshawblack traveled to New York for NYC Blockchain week and recorded podcasts with @jz, @MustStopMurad, Joel Monegro, @lukebp, @jholdstock, and Permabull Nino. The first podcast with @jz was released, with others to follow every two weeks.@Dustorf released the first part of the Decred Assembly, a segment titled Decred Distributed that looks at places around the world and talks with local community organizers to understand what Decred is doing in those areas. The first edition featured @elian, who is leading efforts in Mexico and doing a lot of great work in Latin America. In early June, additional segments will be released, including an in-depth discussion with @jy-p about the DEX proposal.Ditto’s May achievements:Ditto and The Block hosted Atomic Swap, an invite-only event during Blockchain Week NYC attended by 150 crypto influencers, media, investors, and enthusiasts, and sponsored by Decred. The Block published a story prior to the event.@jy-p spoke on “The Idealist’s Dilemma” panel at Atomic Swap, where he debated what it means to be a decentralized protocol alongside Beam, Dash, and Orbs.Reporters from top-tier media such as Bloomberg, The Block, Bitcoin Magazine, Fortune and other outlets attended Atomic Swap. Team Ditto was also able to meet several Decred community members in person there, including @akinsawyerr, @anshawblack, @jholdstock, @lukebp, @jy-p, @jz, @Dustorf.@liz_bagot and @treydpr from Ditto answered the community’s questions on a Reddit AMA and livestreamed video on YouTube.@jy-p and @MustStopMurad met with reporters from BTC Manager, The Information, and Bitcoin Magazine during Blockchain Week NYC.@jy-p was quoted about Facebook getting into crypto in Crowdfund Insider, Live Bitcoin News, and The Daily Hodl.@moo31337 spoke with host Matthew Aaron on the Crypto 101 podcast. Starts at 17:32.@MustStopMurad appeared on Cheddar TV, where he mentions Decred at 2:07.Mention of Decred in BTCManager from after Blockchain Week meeting.The Information quoted @jy-p in a story about the launch of Spedn.@MustStopMurad was quoted in Forbes and mentions Decred: “While Bitcoin has been outperforming altcoins since April, I think altcoins which have tracked BTC movements most closely are the ones being accumulated by ‘Smart money’ investors and VCs: coins like Decred, Tezos, and Monero.”.Secured a speaking slot for @jy-p about decentralization and Decred’s funding mechanism at the Voice of Blockchain, an event that will take place in Chicago this fall.Worked with the community to finalize a byline on Decred’s approach to staking.Submitted PR proposal to Politeia for next six months funding.EventsAttended:May 4–5 — VII Bitconf — São Paulo, Brazil. Decred was well represented at this event with around 1,200 participants.May 7 — ThatCrypto Meetup — Toronto, Canada. @michae2xl and @zubair presented Decred. (video)May 13 — Consensus 2019 — New York, USA. @jy-p presented a Decred Roadmap update, featuring details on funding and development. (video)May 15 — Atomic Swap — New York, USA. Decred co-sponsored the Atomic Swap event organized by The Block. @jy-p spoke on a panel about “The Idealist’s Dilemma”.May 17 — Global Blockchain Forum — Hangzhou, China. @Dominic presented Decred.May 18 — Chengdu, China. @Dominic represented Decred at an event with a lot of miners present.May 18–19 — CriptoLatinFest — Bogotá, Colombia. @elian presented Decred at this event with around 300 attendees. The event attracted attendees who were more interested in speculation than the fundamentals of the technology. (report)May 20–21 — La Conexión — Medellín, Colombia. @elian presented Decred at this event with around 200 attendees, an international mixture of investors, entrepreneurs and cryptocurrency professionals. This event attracted people who were interested in understanding how blockchain technology works and building it into their business. (report)May 23 — Decred AMA — online. This AMA was organized by Cobo Wallet and @Dominic answered questions. The AMA led 300 people to join the Decred Chinese Telegram channel.May 24 — Bitcoinday — Montevideo, Uruguay. The event had around 200 attendees and @elian represented Decred on a panel on blockchain and business, and also ran a workshop about dcrtime and Politeia attended by around 20 people. (report)May 24–25 — Blockchain Nigeria Group — Lagos, Nigeria. @collins and some other Raedah Group developers represented Decred at the event and delivered a presentation.May 28 — Gophers Silesia — Katowice, Poland. @kozel delivered a talk about Decred which has been recorded, video to come.Upcoming:Jun 12 — Meetup — Washington DC, USA. Join Decred, The Dartmouth Entrepreneurial Network of DC, and TechSpace for an evening of conversations and an overview of Decred: A Decentralized Autonomous Entity. Tickets are free but limited, available here. Organized by @akinsawyerr.Jun 18 — TF Blockchain — Portland, USA. @raedah will represent Decred.Jun 19–23 — Campus Party — Brasília, Brazil. Decred team will be presenting 2 lectures on the main stages and around 4 or 5 in our arena. The Brazilian community will be sponsoring a CTF (Capture the Flag) championship with Decred awards. The event runs 24 hours a day. There will be about 60,000 participants and 6,000 camped.Jul 1–2 — Wharton Roundtable on Cryptogovernance — San Francisco, USA. The Zicklin Center for Business Ethics Research at the Wharton School of the University of Pennsylvania is launching a new initiative on the governance of blockchain-related projects, platforms, and consortia. Initial meeting will take place at Wharton San Francisco for approximately 25 highly-esteemed experts, representing a wide variety of perspectives and backgrounds. @akinsawyerr will be attending on behalf of Decred.Events repository was re-published under decredcommunity GitHub organization with 10 past reports polished and extended with links to photos and videos. Event attendees are encouraged to submit event reports to share experience with other Decred representatives and the wider community about cryptocurrency situation in various locations.Media@jy-p participated in an AMA on the /r/cryptocurrency subreddit, answering 18 questions.Selected articles:How I Make a Living in the Crypto Gig Economy by @s_ben (medium)The Basics of Blockchain Governance by @Haon (medium)Decred as DAE Infrastructure provider by @neil_nie (dcrclub), translated to English by @changhugo (medium)Comparing Double Spend Resistance: Decred VS Bitcoin — Part 1 by @Fiach_Dubh (medium)Bitcoin: an Accounting Revolution by Permabull Nino (medium) — not Decred relatedThe community of Decred is present around the world by @Haon (medium)Decred Governance: An Iterative Approach by @max_bronstein (medium)Decred Price Analysis: Emergence as a digital store of value (bravenewcoin.com)Translations:All issues of the Journal have been translated to Vietnamese by @duyenemdo — sponsored by Raedah Group. Since last mention in March the translations have been extended further into the Journal’s history, now going all the way back to issue 1. Vietnamese now leads by the number of DJ translations being and is the only language that has all issues.March Journal translated to Arabic by @arij and reviewed by @abdulrahman4.Videos:Decred Distributed with @elian, first release from the newly rebooted Decred Assembly (youtube)What is Decred — Explainer Video by blockgeeks (youtube)Bitcoin’s Big Brother… Introducing Decred — An Interview with @oregonisaac by BBOD (youtube)Audio:Decred: Everything You Ever Wanted to Know — Vexpoint podcast with @Haon (vexpoint.com)Crypto 101 podcast with @moo31337, introduction to Decred (listennotes.com, starts 17:32)CryptoBasic 101 Series: Decred — podcast with @richardred (cryptobasicpodcast.com)Decred in Depth episode 1 DCR 101 with @jz, hosted by @anshawblack (youtube, soundcloud)Community DiscussionsCommunity stats as of Jun 1:Politeia users: 175 (+8)Twitter followers: 40,462 (+6)Reddit subscribers: 9,459 (+34)Matrix users: 337 (+25)Slack users: 6,721 (+36)Discord users: 2257 (+63), verified to post: 226 (+27)Telegram users: 3,576 (-92)YouTube subscribers: 3,769 (-2)Facebook followers: 3,219 (+1), likes: 2,954 (-2)LinkedIn followers: 544 (+29)GitHub dcrd stars: 489 (+3), forks: 1,324 (+39)Comm systems news:Someone trolled r/decred with some posts about @jy-p’s dress sense or something in early June, and deleted their posts after some time. Not feeding trolls with attention is the best known tactic.Selected Reddit posts:A resource tracking businesses that accept DCR in exchange for products or services.A post complaining that the Treasury is being milked by useless marketing projects, written on the assumption that the “journey to the future of work” proposal would be approved. This post inspired spirited discussion about the merits of that particular proposal and marketing efforts generally.A post observing that people who did not update in time had now been forked off the network following a transaction which utilized the new rules. The post explained how to recover from this scenario.Ditto AMA.Discussion about the geofencing of DCR on Poloniex. Many links on the topic are indexed in this issue.A post about why Microsoft building on Bitcoin is good news for Decred too inspired in depth discussion of the merits of blockchain-based identity systems.Selected Twitter discussions:@BradyDale live tweets @jy-p’s presentation at ChangeLog giving an update on Decred’s progress over the last year and next steps.@lukebp tweets about misalignment of incentives in Bitcoin.@lukebp tweets about how Decred makes minority forks expensive to execute.@lukebp explains (once again) why “plutocracy” does not apply to blockchains.MarketsIn May DCR was trading between USD 23.6–35.0 / BTC 0.0032–0.0045. The average daily rate was $27.71.Bitcoin rose steadily from USD ~5,500 and even crossed USD 9,000 for a brief amount of time.Relevant ExternalEOS Block Producers burned 34 million EOS (~$272 million) from the eosio.saving account. These funds had accumulated from the 4% inflation which was to be used to fund project development through a Worker Proposal System. This idea fell out of favor with the EOS BPs and community, and 15 BPs supported the proposal to burn accumulated savings on May 8. New tokens are still accumulating in the savings account, but this seems likely to be removed as there is an open referendum to remove the 4% inflation for development entirely, which has almost unanimous support from around 2.7% of EOS tokens that have voted.Zooko commented on a long-running discussion about the future of Zcash development to express support for a new dev fund. Zcash currently allocates 20% of the block rewards to a founders reward but this is due to end in 2020. Zooko and many other advocates think the new dev fund needs to be more decentralized than the founder’s reward’s reliance on the Electronic Coin Company, and are encouraging community members to present and develop plans for decentralized governance of this fund.Tezos Athens upgrade activated on May 30, marking the end of a process that began in February to select a proposal, endorse it, test it and activate it. One of the lesser discussed aspects of the protocol upgrade was the generation of 100 new XTZ to be claimed by the upgrade’s developers for a round of drinks. This has been described as a method of funding development through inflation in future, with the developers who make a protocol change proposal incorporating the generation of new XTZ which they can claim as a reward for their work.Dash Ventures investment foundation is nearing completion, and Dash will be holding an election to select a set of supervisors to oversee its operation. The Dash Investment Foundation will be able to take ownership of equity or other assets in consideration for network funding. The election to fill the remaining 4 of 6 supervisor seats started on May 30, and will be followed by budgetary proposals to fund the foundation’s administrative costs and allocate some capital for it to invest.The Open Money Initiative was announced, a research nonprofit which will study how money is used in closed economies with collapsing monetary systems. The initiative’s first project is an ethnographic study in Venezuela. The initiative is supported by funding from Zcash, Stellar, Tezos and the Cosmos supported Interchain Foundation — among others.A Bitcoin Cash hard fork on May 15 was beset by several issues and in the ensuing chaos, 3,391 BCH (~$1.35 million) were double spent. A bug with Bitcoin ABC led to invalid transactions filling up the mempool and a series of empty blocks being mined. Some miners began mining blocks on the pre-hardfork chain, causing a chain split. Immediately after the bug was resolved, a 2 block reorg occurred in which funds that the hardfork made spendable by any miners were double spent. It seems likely the dominant BCH miners reorged the chain to remove transactions in which these coins were claimed by another miner — replacing with transactions where they take custody of these “free to claim” coins.Poloniex has been busy in May, delisting Peercoin and a number of other cryptocurrencies, “geofencing” DCR and 8 other cryptocurrencies so that US-based customers cannot trade it, and announcing support for Cosmos staking. The decision to geofence DCR on the basis of regulatory uncertainty is perplexing, given the many reasons why DCR should not be considered a security, and Poloniex’s concurrent support for ICO projects that seem to better fit the definition of a security. In a follow up post, Circle CEO explained that the move is triggered by the recent guidance from the SEC. Notably, the linked page says “This framework represents Staff views and is not a rule, regulation, or statement of the Commission. The Commission has neither approved nor disapproved its content. This framework, like other Staff guidance, is not binding on the Divisions or the Commission.”. Another post from Circle further elaborated on their position and complained about the difficulties caused by uncertainty from US regulators.Kin Foundation started a Defend Crypto initiative by which they collect donations to take SEC to court. On Jun 4 the SEC opened formal proceedings against Kik.As part of Bitfinex’s engagement with the New York District Attorney, it has emerged that Tether was only 74% backed by USD on Apr 30, according to their legal representative.Binance suffered a security breach which resulted in the loss of 7,000 BTC. The breach was a result of hackers obtaining a large number of user API keys and 2FA codes. On twitter, @JeremyRubin suggested that if Binance released their private keys for the hacked coins (or a subset) they could coordinate a reorg to undo the theft. CZ was participating in an AMA soon after the breach was announced and mentioned that he was considering this proposition. This sparked uproar on crypto Twitter, with much discussion of whether this was a viable or advisable approach. The subject also received some in depth treatment. Ultimately CZ decided not to pursue an attempted reorg because it would damage BTC’s credibility and potentially split the chain/community. The losses would instead be covered by the Binance SAFU fund.One of the articles that quoted Decred on Facebook’s coin had an interesting historic reference. Since 2014 MIT ran an experiment on students where Bitcoin was used to test the spreading of new technologies among the masses. A 2017 article outlining the study and conclusions noted that the insights could be used by “tech firms” who “could fulfill the early adopter’s need to feel exclusive and capitalize on their potential to encourage wider adoption”. A professor from another university commented “This paper helps us understand some of the challenges of launching such a currency, even without a technology-savvy population.”. In May this year, CoinDesk reported that one of the authors of the experiment is helping Facebook to build a cryptocurrency.Another sad story surfaced of a person’s poor security practices leading to a loss of >$100K in crypto. Hint: SMS 2FA is insecure and of course, don’t keep that much on an exchange.Intel disclosed a new set of speculative execution vulnerabilities. Mitigations for major operating systems were released in response.Firefox users went through a frustrating experience of software that worked yesterday suddenly stopped working. Most Firefox addons were disabled around May 3 due to an (unexpected?) expiration of code signing certificate, a bug dubbed ‘armagadd-on-2.0’. This included addons that protect user privacy and security by blocking tons of unwanted ad and spyware content on the web. Mozilla published a notice that as a part of the solution, a “fix will be automatically applied in the background” delivered via the Studies system while a more general fix was in the works.About This IssueThis is issue 14 of Decred Journal. Index of all issues, mirrors, and translations is available here.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 and contributions are welcome on Reddit, GitHub and Matrix.Credits (alphabetical order):writing and editing: bee, degeri, Dustorf, liz_bagot, richardred, s_benreviews and feedback: chappjc, davecgh, dnldd, Haon, jholdstock, lukebp, matheusd, raedahtitle image: saenderDecred Journal — May 2019 was originally published in Decred on Medium, where people are continuing the conversation by highlighting and responding to this story.

Decred

19. 06. 09

The community of Decred is ...

As you may know, Decred is a decentralized project — its digital currency is available to everyone, anywhere, at any time. However, the project is not limited to the digital realm only.In fact: the Decred community is expanding its global presence!Here are some pictures from around the world. Enjoy 😎MexicoFrom the 22th until the 26th of April, many young people visited the Decred booth at Talent Land in Guadalajara:Decred en Español (@Decred_ES) | TwitterMoroccoOn the 24th and 25th of April, Decred community members were present at the IEEE Blockchain Summit in Rabat:Decred Arabia (@DecredArabia) | TwitterAustraliaOn the 30th of April, some Decred community members organized a crypto governance panel in Melbourne:Decred Australia (@DecredAustralia) | TwitterBrazilOn the 4th and 5th of May, lots of people visited this awesome Decred booth at Bitconf in São Paulo:Decred Brasil (@Decred_BR) | TwitterCanadaOn the 8th of May, several community members were invited to speak at the ThatCrypto studio in Toronto:Decred Canada (@Decred_CA) | TwitterUnited StatesFrom the 9th until the 17th of May, a large number of community members gathered at the Blockchain Week in New York:Decred (@decredproject) | TwitterChinaOn the 17th and 18th of May, Decred was introduced to a big crowd of crypto enthusiasts in Hangzhou and Chengdu:Decred CN (@DecredCN) | TwitterNigeriaOn the 24th of May, a team of Decred developers and community members presented the project at a blockchain conference in Lagos:Decred Africa (@Decred_africa) | TwitterExpanding our presenceDecred is constantly growing and everyone is invited to participate.Your active contribution will make the project even stronger.Feel welcome to join the community on social media:Decred - Join our community!(all pictures were shared publicly on social media)The community of Decred is present around the world was originally published in Decred on Medium, where people are continuing the conversation by highlighting and responding to this story.

Decred

19. 05. 26

Decred Journal — April 2019

Decred Journal — April 2019This post covers what happened in Decred in the month of April. It is the 13th issue of the Decred Journal and you can find the original post on GitHub. Past issues are available via this GitHub link.April saw the launch of Lightning Network on Decred’s testnet! This is a great time to check it out, do some testing, and start building on Decred’s LN.LN will become available on mainnet when DCP0004 activates on May 9 (block 342,784), but it will take some time before it is established and stable enough for use on mainnet — testnet is the place to try Decred LN for now. It is also important for all nodes to upgrade before May 9 to avoid being forked off the network!Politeia software saw a significant round of performance improvements and new features (like diff viewing for proposal versions) deployed on the live proposals site. The contractor management system is ready to go in a basic form and will be used for collecting and processing contractor invoices for April.This month’s edition of Decred Journal has been a more decentralized production than usual, with @bee stepping back from the pivotal role they have played thus far (but keeping a steady supply of notes coming) and other contributors doing a bit more than they usually would.Upgrade your nodes!The successfully voted in rule change DCP0004 (updating sequence lock rules to enable LN) will activate on May 9 (block 342,784). Once someone makes a transaction that relies on this rule change, any nodes that are still following the old rules (i.e. any software version before v1.4.0) will cease following the legitimate Decred chain. It is therefore important that all nodes (miners, voters, users, merchants, service providers) upgrade their Decred software to v1.4.0 before May 9. Don’t be forked off the network on May 9!Developmentdcrd: Refactoring continues, with cleanup of unused functions and conditions, improvements to mining code and a revamp of the chaincfg module. Careful code upgrades without breaking things are now possible due to previous work on versioned modules, which are now available and in full use.dcrwallet: Code cleanup and improvements to ticket purchase code. Work started to add optional authentication for gRPC API, which allows users to omit the private passphrase in API calls that require an unlocked wallet. This will mitigate issues that arise when unlocked wallets are isolated via physical and networked segmentation.Decrediton: Work on making Decrediton’s design more responsive (so that it is more usable on smaller screens) continued, with responsive designs completed for almost all of the views in this master issue. The new responsive design was implemented in Create New Wallet view. A pull request to add an embedded LN wallet UI to Decrediton was opened; this initial version will allow Decrediton users to perform actions like open/close channel, add/withdraw funds, create invoices and send payments.Politeia: An upgrade was deployed on the live proposals site which brings significant performance improvements, adds a diff viewer to the proposal version history viewer drop-down, and changes the default ordering of comments to show top scoring comments first. The Contractor Management System is ready for use and will be used by contractors to submit their invoices for April.dcrlnd: Decred’s Lightning Network (LN) is live on testnet! After months of hard work and several changes across the whole software stack, Decred’s official port of the original lnd daemon, dcrlnd, has been released and is ready for testnet usage. All unit and integration tests from the upstream Lightning Network project are passing, and an initial integration with Decrediton is close to completion.A lnd faucet has been styled for Decred look and feel. Check out one of several testnet faucets here for a peek.Work is underway to prepare LN for mainnet, and Lightning will be technically possible on mainnet after the fixlnseqlock agenda activates in block 342,784 around May 9. It will take time to build up the network and improve the user experience. Use of Decred’s LN should for now be considered experimental and not involve large sums of DCR. Testnet is where the LN action will happen for some time. You can follow the growth of testnet LN with this network graph.dcrandroid: Minor bug fixes and language optimizations continue. Optional biometric authentication option is in progress and will be released in the next version, adding an extra layer of security on top of entering the wallet passphrase.dcrios: dcrios beta saw continued testing by community members and refinements to the UI. Only a few outstanding bugs remain, and developers continue working through the formal process of getting the app approved by the Apple Store.dcrdata: v4.1.0 was released and deployed on explorer.dcrdata.org. This version adds live tracking of on-chain votes for consensus rules changes, along with a number of performance and development improvements listed in the release notes. Voting charts for Politeia proposals have been added on the alpha site and are being iterated upon.docs: New pages: Premine describes Decred’s airdrop and launch (a common source of misconception), Verifying Votes describes how to verify ticket votes, Hardware Wallets provides basic info on hardware wallets that support DCR. The Introduction to Decred Governance page has been overhauled to better explain ticket voting and Politeia’s role in decision-making.dcrtimestamptweet: A new Twitter bot was started in late March. Mention @dcrtimestampbot in a comment and the bot will store the thread in IPFS, use dcrtime to anchor the data on the Decred blockchain, and message the user who invoked it.Dev activity stats for April: 326 active PRs, 509 master commits, 96K added and 55K deleted lines spread across 10 repositories. Contributions came from 1–9 developers per repository.PeopleCongratulations to 5 contributors listed on decred.org:Angel Dominguez (@anshawblack, Marketing)Thiago de Freitas Figueiredo (@thi4go, Developer)Hugo Chang (@changhugo, Community Manager — China)Dominic Ting (@dominic.d, Community Manager — China)Michael Guimaraes (@michae2xl, Community Manager)1 inactive designer removed from decred.org: Kärt Koosa (@kart, Illustrator)GovernanceThe consensus vote to implement DCP0004 completed on Apr 11 with almost 100% approval and 54.5% of tickets actively participating by voting Yes. The new rules will activate on May 9, see note above about upgrading node software.In April the Treasury received 15,460 DCR and spent 13,943 DCR. Using April’s daily average DCR/USD rate of $24.22, this is $374K received and $338K spent. As these payments were for work completed in March, it is also informative to consider them in the context of the March average daily rate of $18.14 — in which case the USD received/spent figures are $280K/$253K. As of May 7, Treasury balance is 610,200 DCR (15.4 million USD at $25.20).Below is proposal status as of May 7.4 new proposals were submitted:Decentralize Treasury Spending by @moo31337, a proposal to hold monthly on-chain votes to approve Treasury spends. This proposal attracted a lot of discussion and was featured in the news. Some implementation details were omitted by design:the reason is that in the many years of software development we have learned to only plan two steps ahead and evaluate where we stand after achieving set goals. Planning too far ahead pretty much always ends with reality colliding with the plan. So, yes it is hand-wavy but by design. Once the technical realities become apparent we can let them dictate the process. (@moo31337)A lot of questions were answered and the voting started on May 6.Fiat Pairs integration on EXMO Exchange by @vadymprykhodko requests ~$23,800 to integrate DCR on EXMO exchange with BTC and 2 fiat pairs (DCR/RUB, DCR/UAH). This proposal was approved with 62.6% Yes votes.Amendment to Decred Constitution by @richard-red proposes a set of edits to the Decred constitution to bring it up to date, and clarifies the constitution’s status within the project. Voting finished with 99% Yes among 12K votes. Thanks to everyone who provided input in this process.A Journey to the Future of Work- Telling the DCR story through Politeia by @jer979 requests 40 DCR to write an article about the experience of submitting a proposal and going through the review and voting stages — with another 60 DCR to be paid if the article is featured in a “Tier 1” outlet.Voting concluded for 3 further proposals:The proposal to fund Trust Wallet integration (estimated cost of $3,300 plus $100/month ongoing) was approved with 67% Yes votes.The proposal to start an RFP-type process for ATM integration was narrowly rejected with 52.5% Yes votes — the first proposal to be rejected with > 50% Yes votes. In a discussion in the #proposals channel there seemed to be consensus that it would be fair to try again with a different version of this proposal, given the small margin in voting outcome.The proposal to bring Decred to Africa (Ghana) by @georgepro was rejected with just 5.4% Yes votes. Following the conclusion of voting (when comments are no longer open on Politeia) @jet_user made a long and thoughtful comment on the reddit post related to this proposal.For a more detailed overview of Politeia and related action check out Politeia Digest issue 14.dcrdata’s alpha version now offers charts that show votes over time, including real-time updates for votes in progress. This makes Politeia data stored in the Git repository much more accessible.NetworkHashrate: April’s hashrate opened at ~377 Ph/s and closed ~530 Ph/s, bottoming at 276 Ph/s and peaking at 676 Ph/s throughout the month. Pool hashrate distribution as of May 1: Poolin 21%, lab.antpool.com 20%, F2Pool 18%, BTC.com 10%, UUPool 9%, Luxor 2.9%, CoinMine 0.37%, BeePool 0.09%, suprnova 0.04% and others 18.8% per dcrstats.com. Pool distribution numbers are approximate and cannot be accurately determined.Staking: 30-day average ticket price was 117.2 DCR (+4.9) on May 1 per dcrstats.com. The price varied between 105.4–127.7 DCR. Locked amount was 4.51–4.76 million DCR, which corresponded to 47.0–49.1% of the available supply.Nodes: As of May 7 there were 180 public listening nodes and 201 normal nodes per dcred.eu. Version distribution: v1.5.0 dev builds: 6.9% (+0.6%), v1.4.0: 61% (+6%), v1.4.0 dev and rc builds: 6.1% (+1.1%), v1.3.0: 11% (-6%), v1.2.0: 7.9% (-1.6%), v1.1.2: 4.3% (+0.3%), v1.1.0: 1.4% (-0.3%).DCP0004 has passed with nearly 100% approval rating. New rules will be activated on May 9 (block 342,784). Be sure to upgrade to the latest version.IntegrationsCoinZark added Decred swaps against 25+ supported currencies.Vertbase announced that they will be adding GBP and EUR trading for DCR. On May 2 the registration and buys opened for the UK with GBP pairings.Warning: the authors of Decred Journal have no idea about the trustworthiness of any of the services above. Please do your own research before trusting your personal information or assets to any entity.OutreachApril was a very busy month coordinating outreach, planning meetups and events, and getting setup on various platforms to begin executing the marketing plan. @anshawblack took admin reign of Decred DCR in Telegram, and has been facilitating excellent discussions by sharing quality Decred content. Here’s a brief update on progress of the marketing plan approved on Politeia.Decred Assembly: @Dustorf & @jy-p did a practice session, then came back two weeks later to tape the first episode of the DA revamp. It was decided that rather than record a single show, segments would be recorded separately in order to generate a greater number of more digestible videos. For April, we filed a Deep Dive with @jy-p on the DEX, a Decred Distributed edition with @elian talking about Mexico and Latin America, and a Decred Debunks segment with @richardred shooting down Boaty McBoatface and the idea that stakeholders won’t make good decisions. Some administration work remains in order to post these videos on a weekly basis, which we hope to accomplish by the time this is published. The May edition has already been scheduled.Decred Newsletter: We have decided to use an open-source service, phpList, which has caused some delay. The construct has been set and tests have been sent successfully. Currently, the design team is building out a template to make it look pretty, and they are working to incorporate a signup link into decred.org. Once that is done, we will share that to get people signed up and we expect to send the first emails in May.Website Updates: The architecture is set and a first draft of the copy is written for most of the additional subpages. Additionally, a second version of copy has been written for the new introductory video, which will be broken into three parts: Secure. Adaptable. Self-Funding.Decred in Depth Podcast: @anshawblack is traveling to New York for Blockchain Week beginning on May 11 and plans to record episodes with @jy-p, @jz, Murad Mahmudov, Joel Monegro, Permabull Niño, and Trey Ditto. He will then edit and trickle out the episodes over the coming weeks and months.Community Organizers: The volume of Decred meetups and the number of events attended below highlights the success we’ve had mobilizing communities across the world. A meetup guide and tools to execute meetups will be part of the website updates. Until then, assets can be found in the Design Repository on GitHub. A reminder that if you would like a meetup in your neighborhood, start one! Decred community members take the lead on everything, there is no one dictating what happens where, simply community enablement.Decred was V Label Verifiied on Binance. To become verified, an official member of the project (someone with a Decred email and KYC’d identity on Binance — @s_ben) reviewed and verified the information on Decred’s profile page. This allowed us an opportunity to update the project description to be more accurate and incorporate new marketing messaging, as well as correct some erroneous information about Decred’s launch (a common task).EventsAttended:Apr 4–5 — BitcoinDay Argentina — Cordoba, Argentina. @elian presented a keynote “Decred in 20 minutes” introduction to the project, and also a “How to become a Decred contractor” talk as part of the workshop. See report here. (photos)Apr 8 — Decred: Tools, Use and Contribution — Portland, USA. 17 attendees heard @oregonisaac give an in depth talk on Decred tools, use and contribution, and development updates from @raedah, @oregonisaac and @s_ben. The community is growing in numbers and engagement. Everyone is excited and looking forward to the next meetup. (photos)Apr 18 — Coordinating Open Source: Today and Tomorrow — Coinbase HQ, San Francisco, USA. The event was held at Coinbase HQ in partnership with Coinbase Custody. @lukebp spoke about Decred’s unique governance and self-funding model. There was then a moderated discussion about tradeoffs of different funding models, and Luke answered questions for over an hour. Approximately 70 people attended. (photos: 1 2)Apr 18 — Binance LATAM AMA — online. @elian participated in a Spanish language AMA with members of the Binance Latam community, receiving and answering question from users on Facebook and Telegram.Apr 22–26 — Talent Land — Guadalajara, Mexico. @elian provided a summary of the event and Decred’s participation. The event was attended by over 60,000 people, and Decred was the only major cryptocurrency represented in “Blockchain Land”. A talk titled “Decred: The money of the future” was attended by around 35 people, and hundreds more stopped by to talk to the Decred representatives at the booth. Attendees responded well to the idea of “be your own bank”, and also the concept of Decred as self-funding open source software production. (photos: 1 2)Apr 24–25 — Blockchain Summit — Rabat, Morocco. @arij (@butterfly in Slack) presented Decred and exhibited. Mainly students and professors from Morocco and France attended. (photos: 1 2 3)Apr 25 — Decred Chicago meetup — Chicago, USA. Jack Miller hosted the inaugural meetup in Chicago.Apr 29 — AMA for Chinese Community — online. @Haon and @guang conducted an AMA with members of the Chinese Decred community, receiving and answering over 30 questions.Apr 30 — Crypto Governance — It is a matter of survival — Melbourne, Australia. Decred facilitated this panel discussion about crypto governance. (photos)Upcoming:May 10–17 — NYC Blockchain Week — New York, USA. A team of 7 Decred community members will attend events at various locations. Ditto has been working to make AtomicSwap (the event formerly known as BreakerCon) as successful as possible on May 15. You may have seen the news that Breaker Mag is shutting down, so Ditto is now co-hosting this event with the top crypto outlet, The Block. During Blockchain Week NYC, Decred will take the main stage as @jy-p speaks on a panel called “The Idealist’s Dilemma”, where he’ll debate what it means to be decentralized with other project leads: Ryan Taylor of Dash, Alexander Zaidelson of Beam, and Tal Kol of Orbs.May 18 — Criptolatinfest — Bogota, Colombia. Decred will have a speaking slot.May 20–21 — La Conexion — Medellin, Colombia. @elian will give a keynote on governance.May 23–24 — BitcoinDay Uy — Montevideo, Uruguay. Speaking slot to present Decred at BitcoinDay Uruguay. This event is organized by the same group as BitcoinDay Argentina, and the invitation to present Decred comes from the project’s strong showing in Argentina.Jun 5 — Decred Meetup — Berlin, Germany. @jholdstock will present an overview of Decred and Philipp Banhardt of BlueYard will discuss their investment thesis. Hosted by BlueYard Capital.Jun 12 — Decred: A Decentralized Autonomous Entity — Arlington, VA, USA. Organized by Akin Sawyerr.Jun 19–23 — Campus Party Brasil — Brasilia, Brazil. Decred will be well represented, as it always is at Campus Party.Early June, date TBD — Decred meetup NYC, being launched by Cole Kennelly of Staked. Planning the first three events through the summer, then will involve Decred in events that incorporate the wider ecosystem.The SF Meetup group will share details soon about their next event, likely to be held in early June. The working topic is Lightning Network.MediaDitto overview:@jz spoke with The Block about Decred’s listing experience on Binance.Ticket-voter messaging document was created as a tool for educating people on how Decred’s voting system works. Input from the community was incorporated, with second version currently under review.An article on the proposal to decentralize the Treasury appeared on InvestInBlockchain.com.@matheusd drafted a blogpost on the Lightning Network Testnet on Medium and it was published on HackerNoon.AMA with @jy-p took place on r/cryptocurrency, which has more than 870K readers. @lukebp generated this opportunity when he presented at Coinbase in SF.Ditto and @Dustorf will have an AMA for the Decred community to ask anything about PR and marketing via Reddit, Matrix, and YouTube. Target date is May 17 at noon EST (UTC-5).Selected articles:Unpacking Decred’s Social Contract by @Haon (medium)Be one of the first to test the DCR Lightning Network by @matheusd (medium)Crypto Briefing reviewed Decred and rated it C+ (6.4), citing “… Decred has a smaller merchant network and less active ecosystem compared to its rivals. In addition, the massive inflation rate discourages users to utilize DCR as a means of payment”Blockchain Voter Apathy by Roy Learner (medium) — considers voter participation in a selection of blockchain projects (including Decred)Blockchain proposal voting notes by @richardred (github) — a review of proposal voting datasets added for Decred, Dash and AragonWhat Types of Organizations Should Be Autonomous? by Amentum Capital (medium).Past, Present, Future: From Co-ops to Cryptonetworks by Jesse Walden (a16z.com, missed in Mar issue)Translations:Guides to solo staking and ticket splitting have been translated to Chinese by @wanbihou. Check out dcrclub.org for a collection of Chinese translations of Decred articles.@akinsawyerr translated a Decred review by iBotics Research from Spanish to English.Videos:@jy-p’s Decred overview keynote speech at OKCoin + Decred San Francisco event.@joshuam presentation at TABConf 2019, giving an introduction to the Decred cryptocurrency, community and economy/organization.Audio:Old Decred Assembly was uploaded to Apple Podcast. Thanks to Ryan.Community DiscussionsCommunity stats as of May 2:Politeia users: 167Twitter followers: 40,456 (+147)Reddit subscribers: 9,425 (+20)Matrix users: 312 (+28)Slack users: 6,685 (+46)Discord users: 2194 (+70), Verified to Post: 199 (+38)Telegram users: 3,668 (-374)YouTube subscribers: 3,771 (+7)Facebook followers: 3,218 (+53), likes: 2,956 (+40)LinkedIn followers: Decred page 515 (+20)GitHub dcrd stars: 486 (+7), forks: 1,285 (+28)Comm systems news:Servers hosting matrix.org and riot.im were compromised and taken down on Apr 11 for emergency security maintenance. If your homeserver is matrix.org, change your password. See incident report here and tweet timeline here. Interestingly, the hacker posted generous and somewhat humorous recommendations to the admins on GitHub. Decred’s homeserver (matrix.decred.org) was not affected. A good moment to say thanks to our admins who work every day to keep a lot of self-hosted infrastructure running. The incident disrupted our comms for many hours because many people use the browser version of Riot.im client, which was taken offline. To be resilient against such issues, users should consider installing standalone clients (desktop or mobile). Another idea is to self-host Riot.There were multiple interruptions in the chat bridge and many messages were not delivered across the bridge.Matrix federation is moving to stop supporting self-signed certificates and to rely on Certificate Authorities to behave.Fake account impersonating as “Decred” was detected running giveaways on Facebook. Stay vigilant.@degeri joined as a new Reddit moderator to keep r/decred clean from everyday spam. Welcome!Selected Reddit discussions:Does 48% of coins locked in staking result in lower volatility?Decred was added to Bitwise Top 20 Mid Cap Crypto Indexfintechprof is going ‘all-in’ on Decred (with their energy, not by irresponsibly investing their savings/loans), and outlined the reasons for this enthusiastic embrace.Decred enthusiasts are heartily invited to a new subreddit about crypto staking.Details about the pseudorandom number generator used to select tickets in Decred.Pre-proposal suggesting a second constitutional amendment to declare Feb 8 International day of Stakey.Perspective on scalability and blockchain size over time.@jy-p did an AMA on /r/cryptocurrency on May 2 that received 69 total comments.MarketsIn April DCR was trading between USD 19.97–26.68 / BTC 0.0045–0.0052 as per coinmarketcap. The average daily rate was $24.22.Bitcoin broke the USD 5,000 barrier on Apr 3 and most other crypto assets reacted as usual with an increase against USD but a decrease against BTC. Bitcoin tested USD 5,500 multiple times over the month, but ultimately was hovering between USD 5,000–5,500.Relevant External@richardred has collected and shared comprehensive proposal voting datasets for Decred, Dash and Aragon, and tweeted some basic statistics like average voter participation for each project. At the time of writing (Apr 6), based on proposals that had finished voting, Decred had an average ticket participation of 76% for on-chain votes and 31% for Politeia proposals; Dash had an average masternode participation of 19% in its Treasury proposals; Aragon had an average ANT token participation of 4.5% voting on Aragon Governance Proposals (this is not directly comparable to Decred/Dash where only tickets/masternodes can vote).The second round of Aragon AGP voting concluded its 2 day voting window on Apr 27. Nine proposals were voted on, with a mean participation rate of 3.8% of circulating ANT tokens. 6 proposals were accepted, 3 rejected.Three of the Aragon’s proposals concerned Polkadot in some way, after the leaders of Aragon One had stated that they are considering developing a second Aragon application on Polkadot. A proposal to buy some DOTs with the Aragon Association’s ETH (with a view to maintaining a parachain and participating in Polkadot governance) was firmly rejected by ANT voters, with just 7% Yes votes. A proposal to affirm Aragon’s commitment to Ethereum and stop Aragon One working on Polkadot related development was more narrowly defeated (with 31% Yes votes). This proposal would have caused significant friction between Aragon One and the ANT holder community had it passed, with Luis Cuende stating in an interview that he would have submitted a counter-proposal in the following round of AGP voting. In the third Polkadot-related proposal, 72% of voting ANT approved the Aragon Association to participate in a “lockdrop” for tokens on the forthcoming Edgeware parachain, leaving considerable discretion for the AA to decide how many tokens to lock and how long to lock them for. Another interesting proposal saw the Aragon Association asking for authority to arrange security audits directly (rather than going through the AGP process to vote on these decisions). This was approved with 93% Yes votes, while a proposal from the group that currently performs security audits for continued funding was rejected with 35% Yes votes.It has been noted that the outcome of several AGP votes was altered by one whale (7th largest ANT wallet, holding 2% of tokens) voting very close to the end of the voting period.The Dash sporking upgrade process completed to enable Deterministic Masternode List (which is a requirement for chain locks that will deter PoW majority attacks) and Auto InstantSend. The activation of this spork caused Treasury proposal votes to be reset, and for most of the month it looked as though only a few proposals would reach the required level of votes to be funded. When superblock voting closed on Apr 29 voter participation rates were back to within their normal range and 15 proposals met the requirement. 660 DASH remained to be spent in the superblock, and is now lost to the Dash Treasury, but this level of underspend is not particularly uncommon. Among the proposals were two from rival PR firms, Wachsman and Shift; until this point Dash Core Group had arranged such services directly at their discretion, and had been retaining the services of Wachsman. The Shift proposal, costing $10K per month as a retainer, passed with 536 Yes votes (90% Yes, but only 52 votes over the quorum requirement), while the Wachsman proposal was rejected with a score of -206 (more No votes than Yes votes).The EOS constitution has been replaced with a new user agreement, proposed on chain by EOS New York and approved by the 21 Block Producers. This change had been put to EOS holders in a referendum. The referendum has a long duration (3 months) and is not due to finish until May 8, there is strong support for the proposal (98% Yes) but voter participation is very low (1.7%). EOS referendums had a notional quorum requirement of 15%, but in light of the fact that none of the polls are even close to reaching that level of participation, it seems like the BPs have decided to bypass the formal referendum process and move forward with some of the proposed changes. The EOS BPs also approved the deployment of REX (Resource Exchange), but it failed execution on chain and will have to be re-proposed.Aeternity is planning to hold its first on-chain governance vote May 7–14. The proposal to be voted on is establishing a “Block Reward Initiative (BRI), through which ~0–20% of miner rewards will be allocated to development”. The announcement post references Aeternity’s ICO funds as being sufficient to fund development for years to come, and positions the BRI as a transition to a self-sustaining platform. BRI funds would be given to a charitable foundation registered in Liechtenstein, and administered by a technical council. AE token holders will vote for 0, 5, 10, 15 or 20% of the block rewards to go to this foundation — as long as more than 50% of AE votes for a share greater than 0%, the percentage will be set using a weighted average of the votes for options greater than 0%. This will leave some AE holders who don’t want the block reward funding with a difficult choice of whether to vote for 0% and hope to be in the majority (and otherwise be ignored) or to vote for 5% to lower the weighted average in the case that the proposal is approved.Ycash, a “friendly fork” of Zcash, was announced. Ycash will build off a snapshot of the Zcash chain, and will diverge in two ways (replacing the current 20% Founders Reward with a perpetual 5% reward going to a newly created Ycash foundation, and switching the PoW mining algorithm to something more conducive to mining on commodity hardware) while aiming to incorporate future improvements from Zcash. Zooko Wilcox wrote a blog post about “A Future Friendly Fork” in 2017, and this appears to have inspired the positioning of Ycash as a friendly fork. Zooko has also commented on the Ycash post to say that he sees Ycash as a positive development for Zcash.The Zcash Foundation announced funding for a research project with KZen Networks to enable private n-of-n multisig transactions for Sapling Zcash without requiring a consensus change. The effort is related to KZen’s work on threshold signatures, which are similar to multisig but are indistinguishable from regular signatures.“Maker DAO” was the subject of some controversy this month, initially with an ongoing issue with the DAI peg to USD (with frequent stability increases lately failing to restore the peg) and then with some leaked information about conflict within the Maker team. Zandy’s story provides an interesting look into the history of Maker and the origins of the Maker Foundation as a last-minute move to avoid a hefty tax bill, and a subsequent falling out of the parties involved, with secret communications channels, a “purple pill” roadmap to try and resolve the conflict, board members being fired and having to relinquish their private multisig keys, and a leaked letter that exposed the whole thing.Zcoin announced a vulnerability with the Zerocoin protocol that allowed forged coins to be created (“not exceeding 1% of the circulating supply”). Details are to be released later, once other projects exposed to a flaw with the cryptography of Zerocoin (PIVX, Veil and Gravity Coin) have had a chance to mitigate the issue. The Zcoin team called for Zerocoin spends to be disabled on Apr 9 when they detected the issue, and in this post on Apr 26 confirmed that it will remain disabled for Zcoin as they are working on a replacement (Sigma) which is nearly ready.In part 4 of the 0x Roadmap ZEIP-31 was proposed, which would add incentives for market makers to hold the ZRX token. This is in response to a lack of correlation between users of 0x and ZRX token holders. ZRX is designed to be used to govern the protocol, which is unlikely to work well in a scenario where the main users do not hold any ZRX. The proposal is at the start of a long process to develop and audit the new smart contracts then hold a tokenholder vote to approve/reject the integration of the changes.Bitcoin (Cash) Satoshi’s Vision (BSV) has been delisted by a number of exchanges as part of an ongoing feud between Craig S Wright and some members of the Bitcoin community. Ironic that the poor behavior of a very visible front man is causing so much trouble for BSV.Bitfinex encountered some trouble from the New York Attorney General’s office, in the form of a request for a court order to investigate transactions between certain legal entities relating to Bitfinex and Tether. Specifically, the NY AG alleges that Bitfinex lost some $850 million held by Crypto Capital (they claim it has been frozen), and borrowed from Tether reserves in order to keep Bitfinex operational. Tether updated their terms on Feb 26, adding that it may now back USDT by assets other than USD and delay the redemption or withdrawal because of poor liquidity or unavailability of the assets.QuadrigaCX declared bankrupt after months of uncertainty.A critical flaw was discovered in Switzerland’s Internet Voting System (missed from March), which is scheduled to be used in elections this year. The flaw would allow someone to alter votes undetected. Cory Doctorow wrote about this as exposing issues with Internet voting around the auditing process and NDAs which cover code and silence criticizm from security researchers.The G20 members will meet in Japan in June and plan to agree on a framework to combat crypto-enabled money laundering and terrorism financing — with the main aim being anti-anonymity and the identification of individuals transacting in crypto-assets at the moment of transaction.Researchers have shown that a testing utility bundled with Intel chips (Intel VISA) can allow an attacker to capture data from the CPU.Former Mozilla exec accused Google of sabotaging Firefox for years — through a long series of “mistakes” which led Google products to have issues in Firefox browser.When it comes to privacy, New York Times has a good sense of humor — stuffing the “Privacy Project” homepage to the gills with third-party tracking scripts.About This IssueThis is issue 13 of Decred Journal. Index of all issues, mirrors and translations is available here.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 and contributions are welcome on Reddit, GitHub and Matrix.Credits (alphabetical order): bee, degeri, Dustorf, elian, guang, Haon, issedjur, liz_bagot, lukebp, lustosa, matheusd, richardred, s_ben, saender, sambiohazard.Decred Journal — April 2019 was originally published in Decred on Medium, where people are continuing the conversation by highlighting and responding to this story.

Decred

19. 05. 08

Unpacking Decred’s Social C...

This post is a reaction to the essay “Unpacking Bitcoin’s Social Contract” by Hasu, which uses social contract theory to give readers a better understanding of what Bitcoin is. This text does the exact same for Decred.Bitcoin is a novel social and economic institution. It is so different from our existing institutions that we should be skeptical and ask many hard, pressing questions before we can trust Bitcoin with any economic value.Decred is an iteration of the Bitcoin protocol. Similar questions need to be asked before we can trust Decred with any economic value.The text relies heavily on Hasu’s essay to explain social contract theory and how it can help us to better understand Bitcoin and Decred. Many sentences will reuse or re-purpose his words. You can read the original essay here:Unpacking Bitcoin's Social Contract - Uncommon CoreSocial Contract TheoryBefore we dive into Bitcoin and Decred, it is important to explain the basics of social contract theory. In a nutshell: we are talking about collectively enforced social agreements that can involve any number of people.Two famous social contract theorists were Hobbes and Rousseau, who both had a significant impact on how we look at social contracts between people and governments:Hobbes presumes our state of nature is full of fear and violence, and that it is unbearable for us to live in. According to his theory, we should agree to empower Leviathan, the government, to impose law and order. Every person gives up some of their freedom, while the government is granted sovereignty to protect the people from themselves.Rousseau presumes our state of nature is free and happy, but that modern civilization corrupted us. According to his theory, people are sovereign and we should only agree to empower governments if they enact the general will. Rather than giving up our freedom, we all participate in the collective and unite behind the pursuit of the common good.Interestingly, social contract theory is not constrained to the relationship between people and the state. We can apply the same thought experiment to economics. If enough people are unhappy with the barter economy, they can collectively agree to use a currency to improve the quality of their trading.Adapted cover of “The Social Contract” written by RousseauMoney as a Social ContractHasu explains that fiat money is the result of a social contract: people give the state control over the supply and other vital functions of money. The state, in turn, uses that power to manage and protect the monetary system.However, governments that control money can abuse their power in all kinds of ways: they could confiscate accounts, block certain people or groups from transacting, or print more money which inflates the supply — sometimes to the point of hyperinflation.When governments cross a line in abusing their power, people will lose their trust in the social contract that granted the government its power. They will return to an agreement that preserves most of the benefits (having a common store of value, medium of exchange, and unit of account) without the worst of problems (abuse of power). This is why Bitcoin is becoming more popular.Adapted illustration by Shaftesbury (source)Bitcoin as a social contractBitcoin’s mysterious creator Satoshi Nakamoto did not invent a new social contract. Satoshi leveraged technology to solve many problems of past implementations and implemented the old contract in a new way.Instead of getting its security from a central party (a government), Bitcoin has created a competitive market for its own protection. It turned security into a commodity and security providers (PoW miners) into commodity producers. Satoshi found a way for these competing security providers to come to consensus over who owns what at any given time — no trust needed.The social layer determines the rules of Bitcoin, based on social consensus, and the Bitcoin protocol layer automates the enforcement of the contract.The two layers are symbiotic: neither of them would be sufficient without the other. The social layer and its rules are the heart of Bitcoin, but the secure and open source protocol layer makes the rules enforceable. This makes the contract credible to outsiders.The 4 rules of BitcoinConfiscation resistance: only the owner(s) of the coins can produce the signature(s) to spend themCensorship resistance: anyone can transact and store value in Bitcoin without permissionInflation resistance: there will only be 21 million bitcoins, issued on a predictable scheduleCounterfeit resistance: all users should be able to verify these rulesThese 4 basic rules make Bitcoin’s social contract superior to monetary systems from the past.Bitcoin’s biggest challengesBy now it should be clear that the Satoshi entity was not omniscient. Three major challenges, identified in 2015, are still plaguing Bitcoin today:Project governance: there are no mechanisms in place to smoothly upgrade the protocol layer without the risk of forks or network splits, neither are there formal off-chain governance platforms to build social consensus.Funding development: the work around Bitcoin’s protocol layer is largely funded by private entities. This creates real and perceived conflicts of interest. It is not clear how much influence these external entities have.PoW miners have too much power: the risks of majority attacks and other misbehavior related to collusion are increasing as the PoW mining industry is becoming more sophisticated.Back in 2015, during the block size war, it was unthinkable that any proposed solution to these challenges would be implemented. As such, the only way to make real progress on these challenges was to create an alternative project: a project called Decred.The social contract of DecredDecred is a blend word of decentralized and credits. The project was created by a group of Bitcoin developers and has iterated on the PoW protocol by Satoshi to give more power to the people who actually hold the currency.The Decred protocol is based on a unique hybrid PoW+PoS consensus system that splits block rewards between PoW miners (60%), PoS voters (30%), and the Treasury (10%). This consensus system has several characteristics that are different from Bitcoin:- People can choose to lock up their credits into the PoS system in exchange for voting tickets. Voting tickets are a permissionless and Sybil-resistant way to participate in the project’s governance, both on-chain and off-chain.- A voter-directed Treasury, funded by 10% of the block reward, ensures that Decred doesn’t have to rely on funding from private entities.- The added PoS layer hinders PoW miner collusion. PoS voters protect the network against unwanted forks, majority attacks, and other misbehavior such as mining empty blocks.It is beyond the scope of this article to describe Decred in detail, but if you’d like to read more about the project this canon is a great place to start.The rules of DecredDecred is an iteration of the Bitcoin protocol. Therefore, the 4 rules of Bitcoin are valid for Decred:Confiscation resistance: only the owner(s) of the credits can produce the signature(s) to spend themCensorship resistance: anyone can transact and store value in Decred without permissionInflation resistance: there will only be 21 million credits, issued on a predictable scheduleCounterfeit resistance: all users should be able to verify the rulesOn top of Bitcoin’s original rules, Decred has 3 additional rules:Formal governance: off-chain and on-chain governance mechanisms to build social consensus and smoothly upgrade the protocol layerSustainable funding: decentralized and self-funding treasury systemChecks and balances: random voters are chosen to validate and approve blocks, to keep miners aligned with the common goodThese 7 rules make Decred fundamentally different from Bitcoin.Now that we know the rules, let’s answer some hard, pressing questions!Adapted illustration by Shaftesbury (source)Who can change the rules of Decred?Hasu points out that the rules of the contract are decided and renegotiated continuously on the social layer. This happens off-chain.Within the Decred project, the Politeia platform functions as a focal point. In short, Politeia is a formal off-chain governance platform where people can submit and review proposals. It includes a Sybil-resistant voting system to build social consensus and make collective decisions about funding.When it comes to ratifying consensus rule changes on the protocol layer, there is a formal process in place to smoothly upgrade the code: PoS voters decide with an on-chain vote whether the new rules activate or remain dormant.Can a software bug kill Decred?If a bug would ever be found in the protocol layer that could potentially break the rules of a project, how much damage could it do? The answer is the same for Bitcoin and Decred:Social contract theory can answer that with a resounding “no.” Bitcoin’s rules are made on the social layer, and the software only automates it. Where the social contract and the protocol layer diverge, the protocol layer is wrong — always. A failure of the protocol layer to temporarily enforce the rules of the contract has no permanent bearing on the validity of the contract itself.How will Decred react to forks?Decred was designed with fork resistance in mind. Forking the network is unfeasible without the support of miners and voters. Even if you convinced the majority of PoW miners, the attempt would likely fail without the support of PoS voters. As mentioned, there is a formal process to smoothly upgrade the Decred protocol layer. If the proposed changes are significantly better for the project in the long run, voters would likely vote “Yes” and the new rules would automatically activate for the whole network.If people don’t agree with the voting results, they are free to start their own project. Anyone can fork Decred’s code. However, the value of a project exists on the social layer:all value for tokens is purely a social construct. The tokens do not have any value; they receive their value from social consensus. Forking the protocol doesn’t equal forking the social contract, so the new token is worthless by default.Adapted illustration by Shaftesbury (source)ConclusionsMoney can be seen as a social contract between people in society.Decred and Bitcoin are not new contracts; they are new implementations of a contract that can be traced back hundreds of years.In comparison to Bitcoin, the Decred implementation has made several significant changes. It has expanded the rules of the contract which adds extra dimensions to the social layer. Decred enables people who hold the currency to collaborate and decide about the future of the project.ReflectionHow does Decred compare to Bitcoin? Is it better or worse? The answer will depend on your personal preferences and presumptions. Both projects have their own rules that are based on fundamentally different beliefs.For people who believe that “the market” makes the best decisions, Bitcoin may be the right choice. During any contentious change, the network may split in two or more forks that will compete (fight) for financial and social support of PoW miners, developers, investors and exchanges.For people who believe in collaboration, who aspire to pursue the common good, and who are willing to align themselves behind the general will of the decentralized voter collective, Decred may be the right choice.What is for sure: the values of freedom and sovereignty are present in both projects and both have a high chance of survival in the long run.Bitcoin and Decred are different social contracts. They can coexist.AcknowledgmentsThank you to Hasu, Murad Mahmudov, Praxis and bee for giving feedback on earlier versions of this text.Unpacking Decred’s Social Contract was originally published in Decred on Medium, where people are continuing the conversation by highlighting and responding to this story.

Decred

19. 04. 17

Decred Journal - March 2019

This post covers what happened in Decred in the month of March. It is the 12th issue of the Decred Journal and you can find the original post on GitHub. Past issues are available via this GitHub link.March has seen some significant proposals and votes on the governance side, and solid progress on core software on the development side — a fairly typical month for Decred.The latest consensus vote to fix Lightning Network sequence locks is presently nearing completion with almost 100% support and 54% participation, projected to end on Apr 11.On Politeia, five proposals were published and two proposals finished voting (one accepted, one rejected). Among the new proposals submitted is a significant one from @moo31337 which outlines a path towards decentralized stakeholder control of Treasury spending.dcrd saw a huge refactoring that will bring significant performance improvements for all users when v1.5.0 is released, although advanced users can build it from source today.Developmentdcrd: huge refactoring makes initial full sync 20–25% faster, down to around 45 mins on typical hardware. Another benefit is reduced vote propagation latency:[latency is affected by] many factors, but per node average from ~70ms to sub 5ms on my nodes. Need more data for better values. Good alone, but real gains will come with majority network upgrade since savings are multiplied by number of nodes votes traverse (log_8(tot)). Full deployment ~90% overall improvement. (@davecgh)As part of the optimization txscript module was completely refactored to use a new zero-allocation script tokenizer.Initial sync is a big factor of course, but the real gains are in the ongoing transaction processing for mempool. The other really nice facet is the exported tokenizer which means it’s possible to do zero-allocation analysis on scripts outside of txscript which is great for building apps (e.g. atomic swaps, taproot, etc) on top. (@davecgh)Because a critical and error prone area of consensus code was changed, significant effort has been put into making these changes easier to reason about and review by carefully crafting a series of 122 individual commits such that every commit message thoroughly describes its purpose, maintains consensus, and therefore passes all tests. Bonus: the refactoring slashed some 2K lines of code. Less code, less bugs!There is an opportunity to remove another 10–15 min of initial block download but it requires months of solid work (hint to contributors).Other merged work: initial Bech32 address (BIP 173) support ported from btcsuite, introduced a reusable LRU cache module, hdkeychain module was refactored to make code less brittle and more testable, added new background block template generators. Lots of code clarity and testing improvements were made to harden the codebase against unintended changes.A total of 209 commits from 9 contributors were merged in March.In progress: another large refactor started to address multiple issues in chaincfg module, discussion started to protect node seeding process from DNS based attacks.In the big picture, changes like background block template generator and part of txscript optimization aim to improve scalability and reduce the number of missed votes on the network through improvements to the mining infrastructure and reduction of vote propagation latencies. The other part of txscript and chaincfg refactoring are infrastructure work to properly introduce a new script engine version for future desirable consensus changes such as the decentralized treasury spending. Even if that proposal doesn’t pass, the infrastructure is still needed for a wide variety of future script-related consensus changes.dcrwallet: bug fixes and code maintenance. Merged 12 commits from 6 contributors.Decrediton: ticket activity heatmap visualization merged among smaller fixes — total 5 commits from 2 contributors.Politeia: added tab to preview proposal text, completed feature to view difference between proposal versions, changed default comment sort to first show comments with highest score, added ability to set sort in the URL. Many bugs were fixed. These changes were merged in the master branch and will be deployed on the main proposals site after some testing on the test site.In terms of code infrastructure, several parts of the contractor management system landed in master following a codebase cleanup after rapid development phase. Test coverage was increased from 13% to 19%.A bug was detected that allowed advanced users to cast votes beyond the end of the voting period. It was known for some time and the fix was awaiting deployment. Upon learning that late votes were occurring the fix was deployed on Mar 13. Politeia UI may display slightly incorrect vote counts for some proposals but vote outcomes were not affected.The reassuring part about Politeia is that all of the data is publicly available and is periodically timestamped onto the Decred blockchain. This means that anyone can pull the data down from github and cryptographically verify which votes were cast within the voting period (+/- 1 hour) and which ones were cast after the voting period had ended. (@lukebp in Politeia Digest 12)A total of 40 commits were merged in politeia and politeiagui from 6–9 contributors.dcrandroid: minor bug fixes, Chinese translation added, speed optimizations for viewing the transaction history.dcrios: dcrios beta is in good shape and ready for more public exposure. Testers are welcome and they can get the app at TestFlight. There are only a couple of minor outstanding bugs. There are known layout bugs for iPod Touch devices which are still in the works. The blocker at the moment is dealing with some formalities to approve the Apple Store account. As soon as that is done, an official release client will be made.dcrdata: version 4 released and is available at explorer.dcrdata.org.User facing changes include complete redesign with new page styles, more information and better organization, Politeia proposal pages, aggregate block information on time intervals, log and linear scaling for charts, exchange rate monitoring and lots of smaller things. It is rumored that the HODL watermark is gone. For dev updates check the full release notes.During 3 months of development, the v4 release received a stunning 48K added and 19K deleted lines in 325 commits from 11 contributors. Congrats dcrdata!There are features and improvements already brewing 4.1, so minor release should follow relatively quickly. 4.0 scope creeped quite a bit, but all for good reason, and it was worth it. (@chappjc)In progress: load testing and performance optimization continues, dependency management improvements with Go modules, live consensus vote tracking, faster charts, proposal votes charts and dcrextdata — a component for dcrdata that will allow tracking of data not present on the blockchain, such as historical information about exchange prices and mining pools.Ticket splitting: v0.7.6 released that optimizes the fetching of unspent outputs from dcrdata and adds macOS binaries.docs: new detailed Ticket Splitting guide, Consensus Rules Voting reworked and extended, Proposal Guidelines updated to include key requirements for proposals funded from Treasury.decred.org: updated exchanges and translations, self-hosted intro video to remove a request to YouTube.Other:Raedah Group is experimenting with an alternative godcr wallet client written in Go with multiple user interface modes. Work is in progress for CLI, terminal (yes!), web browser, nucular and Fyne GUI front-ends (screenshots).Raedah Group is also working on dcrseedgen — a standalone Decred seed generator using Go and the nucular UI.timestamp.decred.org was redesigned and the text was rewritten to be more useful.New dcrtime_checker tool was created to verify anchors against the blockchain directly (without interacting with dcrtimed).About half VSPs upgraded to self-host captcha to protect privacy of their users. Status can be tracked here.Dev activity stats for March: 360 active PRs, 497 master commits, 46K added and 34K deleted lines spread across 8 most active repositories. Contributions came from 2–9 developers per repository.PeopleWelcome to new first time contributors with code merged to master branches: @devwarrior (atomicswap) and DominicTing (dcrweb).GovernanceThe ongoing consensus vote, commenced on Mar 14 (block 326,656), is nearing completion with almost 100% support and 54.4% participation, projected to end on Apr 11.In March the Treasury received 16,288 DCR and spent 13,595 DCR. Using March’s daily average DCR/USD rate of $18.14, this is $296K received and $247K spent. As these payments were for work completed in Feb, it is also informative to consider them in the context of the Feb average daily rate of $16.51 — in which case the USD received/spent figures are $269K/$224K. As of Apr 9, Treasury balance is 608,560 DCR (15.3 million USD at $25.26).Proposal status as of Apr 10:Trust Wallet integration approved with 67% Yes votes of the 9.3K tickets that voted. Ahead of the vote, Trust Wallet developers moved forward to integrate Decred on their end.ATM Integration — Planning Phase rejected — 52.5% Yes among 12.7K voting tickets didn’t reach the threshold of 60%. Possibility of a second attempt was discussed here.Bring decred to Africa(Ghana) Adoption program for merchants and businesses by @georgepro seeks $41,054 to fund 3 months of outreach for a merchant adoption program in Ghana. Vote started, reached the quorum and has 95% No votes as of Apr 10.Re-submission of the Coffee Wallet proposal after it was abandoned was blocked by admins as an attempt to use Politeia to market the product.Decentralize Treasury Spending by @moo31337 outlines a 2-step process where a draft spending transaction is published on Politeia for review, and then voted for on-chain by the stakeholders. The development, testing and a required consensus vote are projected to take on the order of 9–12 months, with the budget of $200,000–250,000.Fiat pairs integration on EXMO Exchange by vadymprykhodko was published following a pre-proposal on r/decred. The proposal seeks $23,800 to add DCR fiat pairs on EXMO, an exchange popular in Eastern Europe.Amendment to Decred Constitution by @richardred was submitted following a lot of discussions tracked in this issue.Pre-proposals:India education and awareness campaign by u/Blocknext. In a chat discussion it was pointed out that a similar proposal was submitted for Dash.Second constitutional amendment by @richardred to declare February 8th the International day of Stakey.decredcommunity.org got some criticism for not being open source and not explicitly stating it in the body of the proposal. One of the arguments is that the Treasury has never paid for closed source work before, except for some integrations where it could not be disclosed. Funding of software that is not open source also goes against the project’s constitution. Captured in this issue, the discussion also triggered some improvements in proposal guidelines to state any restrictions in terms of the licensing of deliverables.@richardred posted an analysis exploring to what degree early votes influence the behavior of late voters, and whether this kind of effect could influence the outcome of votes.For greater detail, analysis and commentary see @richardred’s Politeia Digest issue 12 and issue 13.To get notified about Politeia proposal activity, enable email notifications in your Politeia profile or follow @pi_crumbs and @slices_of_pi on Twitter.Discussions:The rate of spending the Treasury and allocation of funds.Ideas for financial reporting.Upvoting of own comments was brought up again and resulted in some consensus around disabling that ability. The corresponding issue was reopened and updated to index all discussions about the subject.@richardred suggested to base the quorum solely on the percentage of Yes votes (currently Yes+No votes are counted) and produced a simulation that visualizes different quorum calculation methods.NetworkHashrate: March’s hashrate varied between the low of 221 Ph/s and a new ATH of 570 Ph/s. During the first half of the month the average held around 320 Ph/s, but increased to greater than 400 Ph/s towards the end. Pool hashrate distribution as of Apr 1: F2Pool 23%, Poolin 20%, lab.antpool.com 16%, BTC.com 12%, UUPool 11%, Luxor 3.2%, CoinMine 0.4% and others 14% per dcrstats.com. Pool distribution numbers are approximate and cannot be accurately determined.Staking: 30-day average ticket price was 112.3 DCR (+0.6) on Apr 1 per dcrstats.com. The price varied between 108.6–117.9 DCR. Locked amount was 4.47–4.61 million DCR, which corresponded to 46.9–48.6% of the available supply.Nodes: As of Apr 1 there were 191 public listening nodes and 336 normal nodes per dcred.eu. Version distribution: v1.5.0 dev builds: 6.3% (-2.3%), v1.4.0: 55% (+12%), v1.4.0 dev and rc builds: 5% (-2%), v1.3.0: 17% (-6%), v1.2.0: 9.5% (-0.5%), v1.1.2: 4%, v1.1.0: 1.7% (-0.3%).MiningNew mining pool appeared as shown by dcrstats: lab.antpool.com.This Chinese support page suggests OKEx has a new mining pool for Decred.Scott Offord announced on Twitter that MicroBT sells last 200 units of Whatsminer D1 at $750 each and doesn’t plan any more Decred miners after that.IntegrationsFollowing a joint event in San Francisco, OKCoin announced the listing of DCR pairs against BTC, ETH and USD, adding another fiat on-ramp for DCR. The news was picked up by The Block and several smaller outlets.CoinText added DCR support. The service allows one to send DCR to anyone with a phone in the US and Canada. Do read up on how the service works and use appropriate caution and small amounts.OutreachMarch was one of the most successful months in the history of the Decred-Ditto relationship. From helping organize an incredibly successful event at OKCoin offices in San Francisco, to securing a feature article in The Wall Street Journal, Ditto and Decred made some major waves in the space. Ditto lost count of how many other crypto companies and enthusiasts reached out to them just to congratulate Ditto/Decred on WSJ and compliment them on a fantastic event.Ditto’s March achievements:Secured a feature article on Decred in The Wall Street Journal by facilitating multiple interviews with Jake Yocom-Piatt and Chris Burniske of Placeholder VC. More than any media coverage generated thus far, this article most effectively described Decred to a broad, non-crypto, mainstream audience of financial decision-makers — significantly enhancing its visibility and credibility outside the crypto world. Text available here, and an interesting backstory here.Secured an in-depth technical profile of Decred in The Block. Plain text version here.Facilitated 5 interviews: background interview with Laura Shin (the host of the Unchained/Unconfirmed podcasts), 2 interviews with a CryptoBriefing analyst for an in-depth research report, one with The Block that resulted in a longer-form profile of Decred, and one with WSJ that resulted in a feature article.Helped organize and put on the OKCoin-Decred listing event.Attended the first inaugural Decred meetup in San Francisco, which thanks to the organizers had an awesome turnout of 60+ people.Provided format and content ideas for the Decred Assembly videos.Drafted high-level messaging around how ticketing works (pending).Drafted a byline on the Treasury for investinblockchain.com, which went live in April.For more detail and smaller items see Ditto’s biweekly updates from Mar 1, Mar 15 and Mar 29. Thanks to @liz_bagot for consistently providing biweekly and monthly reports about Ditto’s progress!April will showcase the first edition of the rebooted Decred Assembly, hosted by Dustin & Jake, and featuring various members of the community (internal and external). It will include a synopsis of news and timely topics, a deep dive into a specific subject matter, and a couple of other segments each week designed to share Decred’s ethos and principles.Discussions:Revisited an old idea to give “decentralized credits” more visibility.A question whether Decred needs a more specific term than “skin in the game” which is hackneyed, vague and used by many crypto projects. The decision to forgo liquidity on exchange for the right to participate in governance warrants a term that is more meaningful and reflective of the difference between Decred and other projects. This and other concepts with floating names are captured in this issue.EventsAttended:Inaugural SF Decred Meetup in San Francisco, USA. @max_bronstein shared: “The event went really well! we had a great turnout, > 50 people and the crowd was very high-signal. Chris gave a great overview of the network’s growth and touched on the HAS framework — hypersecure, adaptable code, and sustainable funding model”. (photo)Decred and Decentralized Governance in Portland, USA. @Eli and @oregonisaac noted: “It was low lighting but a great turnout! We had 14 enthusiastic attendees for Isaac’s presentation on Decred and Decentralized Governance. We closed down the private room, then the bar, then kept the conversation going outside. Great mix of extended crypto folks from Portland and established community members/contributors. Was amazed we were still going after 10 p.m. (meetup was scheduled till 8 p.m.)”. (photo)Just HODL It @ SXSW 2019 in Austin, USA. @moo31337 represented Decred.The Next 10 Years: Crypto Boom, Bust, or Buidl? by Decred and OKCoin in San Francisco, USA. As @liz_bagot reported, “the event was a huge success — about 110 people attended, including a lot of VCs and crypto CEOs. Ditto received a lot of compliments, and the fact that so many people stayed to network long after the event had ended speaks to its quality. Chris Burniske and Alex Evans from Placeholder VC, as well as Jake, spoke at the event and drew a great crowd.” (photo)Restoring Trust through Blockchain Governance in Toronto, Canada. (photo)Presentation in Swinburne University of Technology in Melbourne, Australia. @eSizeDave and @Zohand presented to students of the Frontiers in FinTech unit of the Master of Financial Technologies course. Presenters a bit surprised the audience with some facts about fiat money, then briefly introduced Bitcoin and moved to Decred with its hybrid PoW/PoS model, governance, Politeia, project progress and roadmap. Full report here. (photos)Crypto Conference 2019 in Berlin, Germany. The event was part of Berlin Blockchain Week. @karamble presented “Adaptability in Digital Currencies”. (photos: 1, 2)Presentation at HCHchain Accelerator in Qingdao, China. @Dominic gave a talk “What is Decred?” and “demonstrated how vibrant our Chinese Decred community is. Many great questions were put forward, e.g. how delegating votes to VSPs may affect the on-chain vote outcome, now being discussed on our WeChat.”. (photo)Upcoming:Coordinating Open Source: Today and Tomorrow in San Francisco, USA on Apr 18. The event will be held at Coinbase HQ in partnership with Coinbase Custody. @lukebp will talk about Decred’s unique governance and self-funding model. After the talk there will be a moderated discussion about tradeoffs of different funding models.Crypto Governance — It is a matter of survival in Melbourne, Australia on Apr 18. There will be a panel discussion about governance and a demo of Politeia. Co-organized by Decred and Apollo Capital.Jalisco Talent Land in Guadalajara, Mexico on Apr 22–26. Contact @elian for details.Blockchain Summit in Rabat, Morocco on Apr 24. @arij (@butterfly in Slack) will present Decred.Decred Meetup in Berlin, Germany on May 5. @jholdstock will present an overview of Decred and Philipp Banhardt of BlueYard will discuss their investment thesis. Hosted by BlueYard Capital.NYC Blockchain Week in New York, USA on May 11–16. A team of 7 Decred community members will attend events at various locations.Criptolatinfest in Bogota, Colombia on May 18. Decred will have a speaking slot.MediaCommunity efforts:@Denni Lovejoy actively engaged in #writers_room to produce accurate scripts for his videos per the approved wallet tutorial proposal.@anshawblack will head to New York in May to record several community members in person for his Decred in Depth podcast.Decred Journal is now mirrored on decredcommunity.org. Notice the nice country flag buttons to quickly jump between translations.@max_bronstein compiled Decred Canon — a collection of readings and resources to help people familiarize themselves with the Decred Project.New articles by @mm at stakey.club: Sharing the dcrd with multiple devices, Decred Verifier script to check hashes and signatures (you do verify signatures, right?).Selected articles:How Close to Absolute Decentralization is Decred’s Unique Consensus Mechanism? by Trevor Holman (cryptonewsz.com, missed in Feb issue)The best on-chain governance system by @Haon (medium, missed in Feb issue)Decred: Deep Dive Report by Smith + Crown (smithandcrown.com, 19-page research report)The Cryptocurrency Industry Has a Forking Problem! Can On-Chain Governance Help Solve It? by Florian Gheorghe (beincrypto.com)Decred Aims to Reach Crypto’s Decentralized Ideals by Tomio Geron (wsj.com, paywall, sharing far and wide recommended to amplify impact)Decred, an experiment in on-chain governance by Steven Zheng (theblockcrypto.com, paywall)Hybrid PoW/PoS Consensus Explained by @richardred (binance.vision)Decred’s “Skin-in-the-Game” Governance Experiment by Jeremy Epstein (neverstopmarketing.com, thanks for the kind words!)More Exchanges, More Access: Decred Grows Availability & Liquidity by @Dustorf (medium)Decred Overview by Casey Caruso (medium)How I pitch Decred in Africa by @George Pro (medium)New info leaked about c0:Haon: https://crypto.bi/tape/blog/dcr/ — “The founders of decred originally worked on the development of Bitcoin in a project called biscuits.” jy-p: working on biscuits for a while gave us the perspective we needed to start decred. our second project, fried chicken, is what led us to create our own louisiana kitchenA few more gems were found on Crunchbase: Decred is a “Private”, “For Profit” company, “uses 8 technology products and services including PHP, nginx, and Google Drive”, and “is actively using 24 technologies for its website. These include Viewport Meta, IPhone / Mobile Compatible, and SSL by Default”. Finally, the team includes two Jacob Yocom-Piatt, which somewhat explains the amount of foresight behind the project.Translations:Decred: Where did it all begin? in Dutch by @jazzahDetailed analysis of Decred fork resistance in Dutch by @jazzahDecred Journal January and February issues were translated to — hold your breath: Arabic by @arij (victorious after long fight with right-to-left issues), Chinese by @guang, Polish by @kozel, Russian by @DZ, Spanish by @elian and Vietnamese by Duyên Em. Speaking of Vietnamese, 6 issues are translated as of writing. Thank you all for spreading the word!Translators, note that there is an index of translated articles here. Reach out in #writers_room or submit a pull request to add your translations.Audio:Did You Know Crypto — Episode 26: On Decred. @moo31337 talks about his background, what is Decred, its hybrid consensus, stability, proposal system and the DEX. (didyouknowcrypto.com)The Blockcrunch — How Does Decred’s Governance Work? Part 1 of interview with @Haon talks about Decred’s governance, stakeholder rewards, voting topics and why both miners and voters are needed. (libsyn.com)The Blockcrunch — Defending Decred’s Onchain Governance. Part 2 of interview with @Haon continues about enforceability of on-chain votes, stake-based vs entity-based voting, fairness and centralization in PoS and threat of malicious actors. (libsyn.com)CoinMarketCap started to show FCAS rating for crypto assets. The Fundamental Crypto Asset Score is tracked by Flipside Crypto since early 2017 and is available for more than 450 projects. The goal of the system is to answer “can this crypto project produce product people want to use, and are people using it?” by largely ignoring price movements and instead putting more weight in customer activity and developer behavior, as explained here. As of Apr 9 Decred is rated “A” 778 out of 1000. Some context: Litecoin 752, Zcash 792, Bitcoin 862, EOS 910, Ethereum 914.CommunityCommunity stats as of Apr 1:Twitter followers: 40,309 (+512)Reddit subscribers: 9,405 (+40)Matrix users: 284 (+18)Slack users: 6,639 (+58)Discord users: 2,124 (+23), verified to post: 161 (+30)Telegram users: 4,042 (-230)YouTube subscribers: 3,764 (+18)Facebook followers: 3,165 (+24), likes: 2,906 (+10)LinkedIn followers: Decred page 495 (+12), Politeia page 29 (+0)GitHub dcrd stars: 479 (+5), forks: 1,257 (+20)Comm systems news:Stakey stickers are now available in Riot web, Android and iOS Matrix clients. Thanks to @lustosa and Matrix folks for adding! Excited testing of these stickers totally disrupted #general. Known issue: Matrix stickers do not cross the bridge to Slack and Discord. Secret hint from @jrick: these stickers are available across the entire Matrix federation and can be used in rooms with no relation to Decred. Use wisely.Transferring of message edits across the chat bridge was disabled, so if you edit message on Discord or Telegram, the edit won’t transfer to Matrix (and won’t post an annoying duplicate message).Right after disabling message edits in our bridge software (matterbridge), an untested code path was hit that took down the bridge for a few hours. @dhill quickly located the bug and submitted a pull request.New #101 room was started to help beginners and serve as a place for shower thought questions (this was requested a few times). The room is bridged with Slack, Discord and Telegram. Bridging with Telegram is uncommon because of huge amount of spam on that platform. For some background, previous #telegram room was unbridged for too much spam that wasn’t automatically removed when moderators removed it on Telegram.Telegram hardening: @Aztec and team upgraded the “slapper bots” that boot people and bots for bad content, also a “shield bot” was added that does captcha for new room entrants.Chinese community members managed to setup a page for Decred discussion on chainnode.com, a rebrand of 8btc.com and one of the largest crypto forums in Chinese.Selected Reddit discussions: “Skepticism Sunday” threads on Mar 3 and Mar 24; how many people would like part of their paycheck in DCR; thoughts on using Kialo as a tool for more structured communications around decision making; idea to add polls to Politeia.MarketsIn March DCR was trading between USD 15.93–23.26 / BTC 0.00414–0.00596 per coinmarketcap. The average daily rate was $18.14.In the middle of March many cryptoassets experienced significant short-term or prolonged growth. On Mar 12 DCR had a short spike on all exchanges, for example on Binance from 0.0043 to 0.00638 BTC. After that the price settled above 0.0048 BTC.Relevant ExternalGitHub is updating their policy. New drafts were published for feedback till Apr 12 and will come into effect Apr 19. Among the changes is commitment to react to Do Not Track, sharing user data with more 3rd party processors and updated use of third party user trackers. The change to clarify influence of U.S. sanctions triggered a question how this might impact Decred contributors — if you know, please comment in this issue or on Reddit. Some changes might be unpleasant but are pretty common for most companies and give us a good moment to reflect on our beliefs about free stuff. Also, unlike most companies, GitHub has all their policy documents versioned transparently in a Git repo that anybody can clone and inspect. The idea to have a similar repository for Decred was discussed a few times and there is a concept sandbox repository showing how it might look like.Stellar (XLM) experienced an inflation bug which was exploited to print 2.25 billion XLM (worth $10 million at the time, and nearly 25% of the circulating supply) in April 2017. This bug was lightly reported at the time, it was fixed by the Stellar Development Foundation (SDF) who burned an equal amount from its community reserve to offset the unintended inflation. That the SDF could identify, fix and mitigate such a major exploit so quietly says something about how decentralized Stellar is.PIVX experienced an inflation bug which was exploited in March. The bug concerned the network’s zerocoin protocol (zPIV), and allowed an attacker to fake serial numbers and spend zerocoins that had never been minted. Over the course of five days, transactions creating and spending 568,897 PIV (~$438,000) were made before the exploit was identified and zPIV transactions were disabled (until it could be fixed). Besides regular takeaways like “consensus code is hard” and “cryptography is hard”, this case has more food for thought. First, zerocoin functionality was disabled immediately after the exploit was discovered using one of the “sporks”. Someone with the keys for these sporks can affect the whole network. Second, the bug was spotted because some nodes were switching away from OpenSSL that let the bug go unnoticed (OpenSSL is long famous for its quality). While those nodes were not full alternative implementations, it still shows how a mismatch between diverse software helps to discover bugs. Third, it is possible to know exactly how many coins were minted because PIVX’s zerocoin protocol allows supply to be auditable, unlike some other privacy protocols.Ethereum is actively discussing a dev fund funded from block rewards. Kickstarted by Gitcoin co-founder, ERC 1789 (continued as EIP 1890) provides an overview of funding models employed by open source and makes a case for inflation funding for protocol maintenance. A supplementary GitHub project was organized with a collection of documents and more than 50 issues.Monero’s new Community Crowdfunding System was launched, and a number of projects were funded.Dash held an election for Trust Protectors, people who will oversee the operation of a legal trust that has been set up to own and control Dash Core Group.Dash also finished the deployment of the Deterministic Masternode List, enabling automatic instant payments for transactions with fewer than 4 inputs.Dash Core Group further tightened its budget with layoffs and salary freezes.Tezos concluded the first round of voting for its Athens upgrade. In this round bakers were choosing from between two versions of the Athens upgrade which increases the gas limit, and they chose the Athens A version which also decreases the minimum roll size and lowers the barrier to entry for bakers. The process has now moved on to its next phase, where bakers must confirm that the selected proposal should proceed to a subsequent testing and confirmation phase.Grin developers voted to fund 3rd full time developer in a weekly governance meeting. An interesting aspect of Grin is their efforts towards reporting and transparency: multiple versioned documents are published on GitHub, including decision log, meeting notes, income and expenses.Poloniex committed to share a portion of Grin trading fees with Grin General Fund. 50% of all fees will be donated during the first month, and 25% for the next 11 months. Pretty rare and generous act in the space.Jack Dorsey announced Square is looking to fund engineers and a designer to work full-time on Bitcoin and cryptocurrency ecosystem, as a way to give back to the community. One response noted that “dev fund” embedded in a protocol is not needed because network participants have enough incentives to fund their infrastructure. In Decred’s case, if the Treasury is ever deemed no longer necessary, it is within stakeholders’ power to repurpose it for investing into a wider crypto/open source/open hardware ecosystem, or disband it entirely.Investigation of QuadrigaCX by Ernst & Young found that exchange’s cold wallets were empty and unused since April 2018. Kraken offered a $100K reward for tips that lead to the discovery of the missing $190 million.New research from @BitwiseInvest suggests 95% of reported BTC spot volume is fake, but also notes much good news about the crypto ecosystem.IMF found an elegant solution to make negative interest rates work as a counter-measure to a possible future crisis. A negative interest rate of -3% would mean you deposit $100 to a bank and withdraw $97 a year later. Such rates are currently hard to enforce because people would just withdraw to cash. The “straightforward” solution would be to move into a happy “cashless world” where the bank can set arbitrary negative rates and you simply can’t withdraw to cash to save your value from melting. This is expected to “make consumption and investment more attractive, … jolt lending, boost demand, and stimulate the economy”. But getting rid of cash is not easy and is years away. So another solution to sustain a negative interest rate that is easier to roll today is to split a fiat currency into e-money and cash and introduce a floating conversion rate between them. This way, in a -3% interest rate scenario, you either deposit 100 cash dollars into e-dollars and get 97 e-dollars in a year, or hold cash and enjoy a 3% value loss against both goods and the e-dollar. In such a system there is no benefit to hold cash relative to bank deposits. Hasu and Su Zhu argue that crypto can serve as a hedge against the cashless society. Disclaimer: this paragraph is written by a layman. Economists are welcome to comment how this is healthy at all.Coinbase Custody enabled deposits and withdrawals for ZIL, KNC, ZEC, XTZ and claim to hold $600 million for 60 clients. The service offers regulated, insured and full offline custodial storage of crypto. The plan is to allow clients to fully participate in crypto networks besides just holding: Tezos baking (staking) is already implemented while voting in Tezos and MakerDAO is planned for Q2 2019.Coinbase received a backlash from users who deleted their accounts to protest the acquisition of Neutrino, a blockchain analysis startup. The users were upset because Neutrino’s executives previously worked for Hacking Team, which sold spyware to governments to aid surveillance and crackdown on journalists and critics. By coincidence, several user faced difficulties closing their accounts. The Block reported that Coinbase knew about Neutrino’s background but still decided to proceed with the acquisition. A week later Coinbase CEO Brian Armstrong called it a “gap in our diligence process” and announced that people who worked at Hacking Team will transition out of Coinbase.The problem Coinbase tried to solve with that acquisition was their KYC contractors “selling client data”, as slipped in one interview. Many exchanges don’t verify ID directly but instead hand it to 3rd parties, who may in turn hand it to more 3rd parties, and so on so it quickly gets out of control. Per another report there was not much choice for Coinbase due to another problem — many such firms moved to a ‘give-get’ data model, where Coinbase would only be permitted to use the service in return for providing its own data. Besides spreading to an unknown set of entities, another risk is that enormous amount of interlinked personal data may concentrate in a single place that will become an attractive target. For example, Jumio’s Netverify is used by 5 of the top 10 exchanges including Coinbase, Bittrex and Bitstamp, and an increasing number of ICO issuers.New Android malware was detected that targets more than 100 global banking apps including 32 cryptocurrency apps such as Bitcoin Wallet, BitPay, Cryptopay, Coinbase and others. Another report about an old crypto hacking group recommends Windows and macOS users to be more cautious when dealing with new 3rd parties, installing software, and to never ‘Enable Content’ (macro scripting) in Microsoft Office documents received from new or untrusted sources.Beta of Neutrino wallet for Bitcoin Cash was released for Android. It uses the same SPV tech as Decred to connect wallets directly to the nodes without intermediaries. Decred and gcash project have common code which makes an opportunity for code reuse and collaboration — see December issue for more coverage.PSA: Decred Journal Takes a BreakTwelve issues mark a full year of Decred Journal exposing Decred’s ethos, depth and community involvement.I (@bee) have accumulated a lot of things in life and in Decred that I would like to complete, and also I need a break. Therefore, the release of future issues is not guaranteed. I will, however, remain available in Matrix and do my best to assist anyone willing to produce Decred Journal. To get involved join #writers_room.Thank you to all readers and contributors!About This IssueMost 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 and contributions are welcome on Reddit, GitHub and Matrix.Credits (alphabetical order): bee, davecgh, degeri, Dustorf, guang, jholdstock, liz_bagot, raedah, richardred, saender, sambiohazard.Decred Journal - March 2019 was originally published in Decred on Medium, where people are continuing the conversation by highlighting and responding to this story.

Decred

19. 04. 17

More Exchanges, More Access...

Photo by OhTilly on UnsplashPrivacy, liquidity, and availability. According to a user survey from exactly one year ago, the Decred community overwhelmingly identified these three areas of improvement. While the embers of privacy smolder and tease against the silent backdrop of excitement and anticipation, I’d like to focus on solid progress on the other two fronts. Last year, the community was emphatic that the project needed to gain listings to major exchanges, explicitly Binance and Coinbase.While Decred is yet to be listed on Coinbase, it has made impressive progress towards increasing liquidity and availability. The way this has been accomplished is remarkable and commendable. The same community that asked for this, took action, proving that Decred is indeed community-directed and decentralized. Individuals and institutions from within the Decred community, none of which receive any compensation from the Treasury, have persistently made the case to exchanges that Decred is more secure than other cryptocurrencies, adaptable to change consensus rules, and self-funded to support a unique contractor model and thrive for generations.These Decred advocates are not simply well-connected VCs pulling strings from the background, they are individual community members raising their voices in an ecosystem that exists to challenge and reform legacy systems with entrenched interests. Their collective efforts have guided our decentralized organization and enabled major fiat on-ramps at exchanges such as OKCoin, Bitvavo, Bitladon, Vertbase, and others in jurisdictions all over the world. These listings signal growing confidence from within the ecosystem that Decred is a superior store of value, and demonstrate that Decred is free from the baggage that weighs down many projects that went through the ICO process.Decred was self-funded, then distributed via air-drop in a way that makes it beholden exclusivity to its community of coin holders and governance participants. And as we build toward an ecosystem that is permissionless, we understand the reality that current entry into the crypto world requires AML and KYC. With each new fiat listing, Decred becomes more easily available to the vast majority of global citizens. Fiat listings allow for the acquisition of DCR in a single step, removing the friction of converting currencies twice, and eliminating cost and time barriers to join the Decred community. Additionally, it removes the need to acquire BTC or ETH, the main trading pairs that have historically enabled people to own DCR. These fiat listings bring more people one step closer to joining the Decred community.To our exchange partners, we thank you for your support and look forward to continued cooperation. We empathize with the need to comply with regulations and appreciate your tolerance of the surveillance state to keep the gates to crypto open. OKCoin demonstrated regulatory gymnastics when they graciously hosted an event at their San Francisco office that turned into a listing party when CEO, Tim Byun, made the announcement midway through the evening. I’d also like to acknowledge the work done by Vertbase, a small operation that was founded to solve the exchange permission problem for Vertcoin. Rather than complain about the situation, Justin Seidl, a Vertcoin community member, researched, then rolled up his sleeves, and opened his own fiat-to-crypto exchange. He operates it with a positive ethos similar to Decred that makes Vertbase my spirit animal.With DCR more available and liquidity improving, even in this protracted bear market, the Decred community always plans at least one step ahead. Thanks to the recent Politeia vote, work will begin to specify and construct a DEX. Built to be permissionless, fair, and anti-rent-seeking, the DEX will further the project’s progress on availability and liquidity in a manner that perfectly aligns with our values of sovereignty, transparency, inclusivity, privacy, and security.With looming deliverables, Decred will continue to validate the faith put in its coin, its community, and its sovereignty model. When the community holds the power to make decisions and has a built-in mechanism to resolve disputes, it forges togetherness, resists splits, and enables sovereign money for generations to come. And on privacy, you’ll know when you know, or maybe you won’t.More Exchanges, More Access: Decred Grows Availability & Liquidity was originally published in Decred on Medium, where people are continuing the conversation by highlighting and responding to this story.

Decred

19. 03. 26

Decred Journal - February 2019

This post covers what happened in Decred in the month of February. It is the 11th issue of the Decred Journal and you can find the original post on GitHub. Past issues are available via this GitHub link.Happy Birthday, Decred! Three years passed since the first block was mined on Feb 8, 2016.February has seen a lot of Politeia activity with 7 proposals submitted, 5 started voting and 4 passed on the first days of March. A total of $490,000 of marketing and events budget for the remainder of 2019 was formally approved by the voters.The network has sufficiently upgraded for the consensus vote necessary to fully support Lightning Network, projected to start on Mar 14.For everyone not upgraded yet, v1.4.0 release contains a lot of improvements and will be required for nodes to proceed on the upgraded chain in case the vote passes. As always, verify the binaries and tell friends to do the same.Developmentdcrd: mempool policy tightened by allowing one less double spend of a ticket and rejecting same block double spends. Wallet-specific types removed from dcrd and moved to dcrwallet where they belong, this simplified changes to dcrwallet and also triggered refactoring in dcrd to provide stronger module boundaries and simplify the dependency graph (note how the pull request cares for reviwers). Non-root Go module replacements were removed — this helps to ensure that latest code from all modules is being tested, and to keep them independently accurate for external consumers.dcrwallet: v1 ticketbuyer was removed after being deprecated for several releases.Decrediton: upgrade to Electron 4 allowed to make startup on Windows more robust. Added exit alert when ticketbuyer is running. Design phase for multiple responsive views is finished and ready for implementation.Politeia: new features are highlighting of new comments since last visit and email notifications after password change (suggested via bug bounty program).Epic cache layer work was merged! Thanks @lukebp and all reviewers/testers. This paves the way for a lot of site performance enhancements. Among other completed work are CLI tool improvements and fsck (file system verification tool) for dcrtime.In progress:Work started to scale www database using CockroachDB.A decision was made to move the code for contractor management system to politeia and politeiagui repositories to avoid the overhead of maintaining two codebase forks and keeping them in sync.Change of the default comment sorting algorithm is being discussed.dcrandroid: many bug fixes and minor improvements are lined up to be merged, see project board for detailed progress.Chinese and Vietnamese translations are in progress.dcrios: TestFlight beta was updated and work is ongoing to bring it up to par with dcrandroid. Progress can be tracked on this board.First release candidate is planned in a month, and there will likely be a point release to dcrandroid then as well.dcrdata: added feature to show data about Politeia proposals, added fiat conversions (supply, treasury, ticket price), mempool page rework, endpoints to get raw blocks and raw headers, added cache package.Discussion started how to calculate cost of 51% attack on dcrdata.Ticket splitting: @matheusd shared his position, some background and plans for ticket splitting. @david recorded an instructional video that walks through the setup.docs: new page explaining Politeia Censorship and how to prove you’ve been censored, new Upgrading Decrediton page, list of testnet VSPs added to Using Testnet page, P2PKH address generation flow diagram added to Address Details page. The search is back.decred.org: content and translations updates. Implementation of the News and Posts page started.First results of the bug bounty program: as of Mar 3, a total of 27 reports were submitted of which 2 are vulnerabilities eligible for payout ($72 and $90).Other:Interesting detail from @matheusd’s blog about DCP0004: Decred’s PoS component can serve as an extra protection from unintended consensus bugs.voting.decred.org dashboard now shows past agendas too. jQuery was removed to the delight of those who understand.Replacement of Google reCAPTCHA with self-hosted solution was merged — huge step in improving stakeholder’s privacy. Thanks to all developers and testers of this patch.Trivia: did you know that Decred heavily discourages creation of dust outputs?PoC UI for atomic swaps made a few steps.QTUM support merged in atomicswap, POLIS support removed.Work started to add DNSSEC support to dcrseeder.authit, the UI for dcrtime is now hosted at timestamp.decred.org. Feedback is welcome in GitHub issues or in the new #timestamp chat room.I must say, Go really is an amazing language. I don’t think I have felt so comfortable in a new language so quickly. (@jholdstock in chat)Dev activity stats for February: 251 active PRs, 224 master commits, 39K added and 24K deleted lines spread across 8 repositories. Contributions came from 3–8 developers per repository. These stats cover only the most active repositories.PeopleWelcome to new first time contributors with code merged on GitHub: @jozn (dcrd), JoeGruffins (dcrwallet), luoshang722 (atomicswap), rex4539 (dcrdocs).Congratulations to 3 Ditto contractors listed on decred.org:Elizabeth Bagot (@liz_bagot)Margaret Huang (@margaret_mei)Milvian Prieto (@milvian)1 contributor removed from decred.org: Jure Kralj (@praxis, Reddit manager).GovernanceIn February the Treasury received 14,878 DCR and spent 17,311 DCR, making it the first month with negative net total. Using February’s daily average DCR/USD rate of $16.51, this is $246K received and $286K spent. As these payments were for work completed in January, it is also informative to consider them in the context of the January average daily rate of $17.06 — in which case the USD received/spent figures are $254K/$295K. As of Mar 9, Treasury balance is 605,828 DCR (10.05 million USD at $16.6).Proposal status as of Mar 9:Baeond card game by burst was rejected by 97% No votes of 29% participated tickets (missed in Jan issue).Decentralized exchange RFP by @jy-p received 82 comments on Politeia, 11 comments on Reddit, and 2 revisions that reduced the scope of the MVP and capped the cost at $250K (down from $1M). @bee published a personal pros-cons analysis. The proposal also spurred a discussion about whether the Treasury should fund promotion of proposals like this. Voting started with 91.4% Yes out of 8K votes as of Mar 9.Wallet tutorials by Denni Lovejoy of Cryptocurrency.Market was published after multiple iterations and feedback collection in chats and Reddit. The budget of $750 was approved with 80% Yes votes and participation of 24% tickets.Events funding for 2019 by @Dustorf was submitted after previews in chat and Reddit. Voting finished with the approval of a $200K budget by 89% Yes votes with 34% tickets voting.Marketing funding for 2019 proposal by @Dustorf was extensively discussed in 68 comments, in addition to chat and 44 Reddit comments preceding the proposal. The budget of $290K was approved by 83% Yes votes with 36% of tickets voting.Decred ATM integration proposal by @oregonisaac is a result of many weeks of research, drafts and feedback since the discussion of Bcash ATM proposal in Nov 2018. Current proposal asks stakeholder opinion whether to proceed with planning. If approved, another proposal will be submitted with particular details of implementation. Voting not started.Decred community website by @karamble proposes a website that aggregates multiple sources of Decred-related content like articles, videos, podcasts, event reports and merchants. The prototype was already built by @karamble and the proposal seeks $6K to fund the site for 6 months. Voting finished with approval of 72.5% Yes votes, with votes by 33% of eligible tickets.Decred integration for IDAX exchange by acean seeks 1,000 DCR to add DCR/BTC trading pair to the IDAX exchange based in Mongolia. Voting finished and the proposal was rejected with 25% Yes votes, with 23.5% of tickets voting.Decred integration in Trust Wallet by @oregonisaac proposes to integrate Decred into “fully decentralized” Trust Wallet for approximately $3,300 and $100 monthly support. Voting not started.Politeia activity between Feb 1–28:7 new proposals submitted, 5 proposals started voting.300 comments on Politeia proposals from 46 different users (public keys).1,006 up/down votes on comments from 56 different voting users (public keys).748 upvotes (70%) and 258 downvotes (30%).All time stats as of Feb 28, 2019:802 comments on Politeia proposals from 113 different users (public keys).2,785 up/down votes on comments from 122 different voting users (public keys).2,336 upvotes (80%) and 449 downvotes (20%).There are 32 users who voted on comments but never commented, and together they have cast 374 votes (13.4% of total).Around 238 comments (30%) have been upvoted by their author.Thanks to @richardred for automating the generation of the above stats.Discussion started to amend Decred Constitution and ratify the new version with a Politeia vote. The initial goal was to remove outdated/irrelevant parts and add missing parts with minimum changes. During the discussion several people asked if we need constitution at all, considering that it is not binding. Links to all discussions and proposed changes are collected in this issue.A new @pi_crumbs Twitter account notifies its followers when proposals are created or modified, and when voting starts or finishes. Currently operated manually by @richardred, but automation is discussed.Another account called @slices_of_pi posts commentary on Politeia activity written by a human.For greater detail, analysis and commentary see @richardred’s excellent Politeia Digest issue 10 and issue 11 which the above summary is based on.NetworkHashrate: February’s hashrate opened at ~230 Ph/s and closed ~300 Ph/s, bottoming at 210 Ph/s and peaking above 420 Ph/s throughout the month. Pool hashrate distribution as of Mar 5: BTC.com 31%, Poolin 27%, F2Pool 18%, UUPool 15%, Luxor 4%, CoinMine 1% and others are 5% per dcrstats.com. Pool distribution numbers are approximate and cannot be accurately determined.Staking: 30-day average ticket price was 111.6 DCR (+2.2) on Mar 1 per dcrstats.com. The price varied between 98.4–124.1 DCR. Locked amount was 4.36–4.56 million DCR, which corresponded to 46.4–48.7% of the available supply.Ticket price and pool size experienced some volatility in February. 1,265 tickets purchased in a single interval on Feb 11 raised the pool size to ~41,670 tickets and the price to 119.4 DCR in 7 subsequent increases. This was followed by a streak of 10 price reductions down to 98.4 DCR, when the pool briefly dropped below 40K tickets (last time this happened in Oct 2017). At the bottom, a stunning 2,797 tickets were purchased in a single window, out of a maximum possible 2,880. @ImacallyouJawdy noted that in this window alone 282K DCR or 3% of current supply was locked in tickets. As a result, the ticket price jumped to 124.1 DCR which is a new all time high since the deployment of the new stake difficulty algorithm in Jul 2017. Ticket pool topped at 42,174 tickets when 48.7% of the DCR supply was locked — a new all time high and +0.7% from previous peak on Jun 7, 2018. Thanks to charts.dcr.farm for the sharp charts.Nodes: As of Mar 1 there were 205 public listening nodes and 297 normal nodes per dcred.eu. Version distribution: v1.5.0 dev builds: 8.6% (+4.3%), v1.4.0 final: 43% (+43%), v1.4.0 dev and rc builds: 7% (-6%), v1.3.0: 23% (-32%), v1.2.0: 10% (-4%), v1.1.2: 4% (-4%), v1.1.0: 2% (-1%).Upgrade thresholds for PoW and PoS were met and the consensus vote locked in to start around Mar 14. Thanks to everybody who upgraded their nodes, and also to people who reached out to PoW pool and VSP operators via different channels and asked them to upgrade.The vote did not start yet but block votes already signal their choices for fixlnseqlocks agenda. As of Mar 4 there were 8,503 Yes and 1 No vote. “Dat contrarian… At least it’s proof that the no button works.” - @jz.IntegrationsVSP codenamed “Bravo” was renamed from dcr.stakepool.net to dcr.blue.Exchange integrations:Vertbase added DCR/USD pair. Vertbase CEO and cofounder Justin joined #general and answered questions. Among the answers were: Vertbase supports 39 of the 50 U.S. states, is actively working to add GBP/EUR/AUD trading, and uses 3rd party to handle ID verification. An interesting feature of Vertbase is very short duration of custody: they will send tokens directly to your wallet once bank transfer settles.We also require you to provide a wallet address because we don’t want to hold nor do we want you to hold your cryptocurrency on our platform. Be your own bank! (@Justin in #general)As of Mar 8, sell orders are not available. See also this Reddit post.Lykke added DCR pairs with BTC and USD.ChainRift integrated DCR.Livecoin added DCR pairs with BTC, ETH and USD.BitMesh launched DCR pairs with BTC and USDT.Warning: the authors of Decred Journal have no idea about the trustworthiness of any of the exchanges above. Please do your own research before trusting your personal information or assets to any entity.AdoptionCoinFund announced Grassfed Network, an initiative that uses ‘generalized mining’ to directly participate in decentralized networks. The story was featured in CoinDesk.Any activity that is compensated with on-protocol rewards denominated in network assets can be seen as generalized mining. Following this approach investors can directly engage in the networks and generate additional returns, compared to just speculating on the value of assets.Per the announcement, CoinFund partnered with Placeholder who plans to delegate its own voting tickets to the Decred VSP launched in January. This plan was voiced earlier by Joel Monegro and Chris Burniske during the panel at Texas Bitcoin Conference 2018. CoinFund is a cryptoasset-focused investment and research firm founded in 2015 and based in New York, USA.OutreachIn February, @Dustorf proposed his plans for marketing and events for the remainder of 2019 and these were passed by stakeholder voting. This is an exciting development that further decentralizes Decred by shifting more direct control over spending to the stakeholders. There was vigorous discussion and many good questions, but the proposals were approved by 83% and 89% of tickets that voted.With an approved budget, work began in earnest on the scope of the proposals. Planning is underway on NYC Blockchain Week, which coincides with Consensus. More information should be announced within two weeks on these plans.The first podcast is underway and scheduled to deliver in March. It will feature Decred Jesus, who will provide a colorful overview discussion of Decred as seen from the ground. Work on the website is underway, with architecture, copy-writing and video scripting already begun.The Decred Assembly and the newsletter are tactics we hope to deliver by the end of this month.February update from Ditto:Media trained 5 Decred community members.Secured media coverage: 15-minute interview between @jy-p and BlockTV, a feature article for the DEX proposal in Forbes, a feature article in honor of Decred’s 3rd anniversary in Breaker Mag, an article on the Vertbase listing in The Block Crypto featuring quotes by @jz. The journalist, Frank Chaparro, said the story was very popular on Twitter and also internally at The Block.Facilitated 2 interviews with crypto media outlets.Worked with the community to create a repository of media-friendly images that we can share with reporters to add visuals to stories about Decred.Helped plan the logistics and content for the event hosted by Decred and OKCoin in San Francisco. Worked with Dustin and OKCoin to draft the Eventbrite copy, coordinate with OKCoin, develop the agenda for the event, and draft a press release.Put together a plan to position Decred as a superior store of value among a variety of channels, including initiating long-term conversations with select top tier mainstream reporters.Worked with Dustin on a master six-month marketing and communications plan spanning PR, events, content, etc. As part of this strategy, we aim to build Decred’s legitimacy and credibility among institutional investors. That entails thinking beyond media relations to span other disciplines as well: owned content, Twitter, influencers, events, etc.For more detail see Ditto’s biweekly updates on Feb 4 and Feb 15.Discussions:Long chat about perception and framing was triggered by a question whether to use word “bug” in public messaging for 1.4 release.Opinions on changing Decred’s ticket from DCR to CRED.Criticism of the use of “lifeless corporate” style in announcements.EventsAttended:TabConf in Atlanta, USA. @joshuam noted: “Tabconf was awesome. Extremely engaged audience — best questions I have received at a conference to date”.Campus Party in Sao Paulo, Brazil. About 60,000 people passed through the event which was running 24 hours a day for 6 days. Decred was the only cryptocurrency participating officially and with an exclusive space to present lectures and classes. All Brazilian developer contractors attended and presented a total of 6 talks and 3 workshops. @jy-p presented Cryptocurrency Security and Adaptability. There were a few problems like Decred’s zone moved and reduced (happened to almost all participants) and poor organization of translations — all taken into account for future planning. See full report by @emiliomann and notes by @matheusd. (photo)Love Night in Ghana. Organized by @George Pro. Since about 90% of participants knew about Bitcoin, presenters could skip the basics and highlight unique features of Decred. One popular question was where DCR can be exchanged to local currency. (photos)How To Keep Your Crypto Secure in Melbourne, Australia. Australia’s cryptocurrency enthusiasts discussed best security practices and Decred’s security standards. @Zohand noted: “Feedback was awesome, and the guys from coinstop and CTRL want to run the event again in a couple of months.”. (photos)Decred in 30 minutes in Mexico City, Mexico. @elian reported: “It was the first meetup where everyone knew about Decred quite well, we were 7 in total. The presentation went faster because attendees knew most of the fundamental content in advance so we went to discuss more complex issues like what are the challenges to decentralized governance, best way to stake tickets and future developments that are happening in the project like LN, payments integration and the most recent events, marketing and community proposals in Politeia. Was very nice to meet proper DCR enthusiasts in Mexico. (…) I think we are far from seeing cc as MoE in Mexico but definitely the space is moving fast. At the moment there are more Mexicans in contact with crypto than with the stocks markets in the country, this is a very good indicator.”. (photos)Talk in UAEM University in Ecatepec, Mexico. @elian shared: “I spoke about the history of money, the Internet, Bitcoin’s blockchain, Decred’s hybrid blockchain and how to work in the cryptocurrency & blockchain industries. They were fascinated by the innovation of cryptocurrencies and blockchain, both students and teachers. The audience was mainly composed by computer science students. The main questions went around what is money, how to value cryptocurrencies and what are the potential work opportunities for fresh grads in the industry. (…) Doing talks in universities is a big deal for me because I know that the next generation of devs, lawyers, accountants, etc, that will be working on the industry is there and they are eager to know more about what opportunities this industry brings. Teachers were very excited to have this subjects presented to their students because is not easy to get such high tech talks to universities that are not in the centre of the city.”.Decred Meetup in Winneba, Ghana. Organized by @George Pro, who noted: “Our first meetup in Ghana was successful. We took our time to explain to the participants how to stake DCR, how to get DCR (Coinomi process), using it as remittances, wallet set up, speed and privacy among others.”. (photos)Talk at Qingdao University in Qingdao, China. @wanbihou talked about Decred’s community governance model and the upcoming on-chain consensus vote. “The students were very enthusiastic!”. (photos)Upcoming:The Next 10 Years: Crypto Boom, Bust, or Buidl? in San Francisco, USA on Mar 12. Organized by Decred and OKCoin. CEO of OKCoin Tim Byun, Decred’s Jake Yocom-Piatt, Chris Burniske and Alex Evans of Placeholder will talk about Decred and the future of cryptocurrencies.Restoring Trust through Blockchain Governance in Toronto, Canada on Mar 16.Crypto Conference 2019 in Berlin, Germany on Mar 27. The event is part of Berlin Blockchain Week. @karamble will talk “Adaptability in Digital Currencies”.Jalisco Talent Land in Guadalajara, Mexico on Apr 22–26. Contact @elian for details.As noted in Governance above, stakeholders approved a $200K budget for 2019 events, which includes a strong presence at 3 large scale events and attendance at a number of smaller events.MediaSelected articles:Decred evaluation by TokenGazer (Chinese, qq.com, missed in Jan issue) — Decred was rated 4.2Which one is the best cryptocurrency next to Bitcoin? answer by Pavel Svitek (quora.com) — thanks to Pavel for presenting Decred on QuoraNo More Trading or Listing Fees? Decred Releases New DEX Proposal by Leslie Ankney (forbes.com)How Long Will Crypto Winter Last? We Asked Three Experts by Julia Herbst (breakermag.com)As Decred Turns Three, It’s Still Set on Real Decentralization by David Z. Morris (breakermag.com)Decred Founder Proposes Building DEX as Alternative to Binance (Interview) by Liam Kelly (cryptoslate.com)“They asked us for $3 million”: an inside look into getting listed on a crypto exchange by Frank Chaparro (theblockcrypto.com)Cryptonetwork Governance as Capital by Joel Monegro (placeholder.vc)Using Governance to Decide the Future: Is Decred (DCR) Going to Build a Decentralized Exchange? by @richardred (investinblockchain.com, also in Chinese at 0xzx.com)Decred mentioned in Forbes and Breaker Mag stories.Videos:Decred AMA TruStory — Preethi Kasireddy chats with Isaac J and Matheus of Decred to learn more about the hybrid proof of work/proof of stake consensus mechanism and their governance model (youtube)Cryptocurrency Security and Adaptability — talk by @jy-p at Campus Party Brazil (youtube)The Potential of Decentralization — interview with @jy-p for BlockTV (blocktv.com)Mentioned by Chris DeRose in an interview to Crypto InsiderAudio:ITK Crypto #8 — Tom White and Crypto SI speak to @kozel about crypto governance (youtube)Murad Mahmudov and Aleks Svetski talk about Bitcoin, Lightning and the current market outlook. “So I hope my Bitcoin ultra maximalist friends don’t hear this but…” (podplayer.net, Decred part starts at 1:36:45)Translations:Decred Journal — January 2019 in Chinese by @guang (also Dominic, Hugo and Jill), in Spanish by @elian. Thank you!CommunityCommunity stats as of Mar 1–2:Twitter followers: 39,797 (+19)Reddit subscribers: 9,365 (+35)Matrix users: 266 (+19)Slack users: 6,581 (+52)Discord users: 2,101, verified to post: 131Telegram users: 4,272 (-231)YouTube subscribers: 3,746 (-6)Facebook followers: 3,141 (+9), likes: 2,896 (+5)LinkedIn followers: Decred page 483 (+17), Politeia page 29 (+2)GitHub dcrd stars: 474 (+6), forks: 1,237 (+16)Telegram communities: Chinese 866 (+53), Italian 160 (+28), Portuguese 642 (+100), Spanish 73 (+11).Chinese community was pretty active in Feb:started a #chinese room in MatrixYin Guochao continued to write about Decred: one piece about dcrtime and another about atomic swapsDominic did a intro to blockchain and Decred in a university to some studentsarticle by Yin triggered another community member to write more about dcrtime and create a web UI for timestamping files and raw text (UI for dcrtime is tracked in this issue).Comm systems news:non-English chat rooms were renamed after languages used in them for consistency, unused rooms were removed. #chinese, #portuguese, #russian and #spanish are now available in Matrix.Riot client was upgraded to version 1.0 with a reworked UI.Another Reddit thread was deleted after receiving some discussion. Moderators have no power to forbid this destruction of community knowledge, except the workaround to resubmit the deleted thread. Ideas for more persistent Reddit-like forum are collected in this issue.“Decred’s community spaces — a crude analogy” post by @richardred compares multiple comm platforms used by the Decred community. The follow-up discussion noted problems of keeping up with chats, the importance of having a vibrant Reddit community, and issues with proposal discussions outside Politeia.MarketsIn February DCR was trading between USD 14.97–18.28 / BTC 0.0042–0.0048. The average daily rate was $16.51.Relevant ExternalA study of Monero nonces documented differing patterns in the nonce distribution when ASICs were mining on the network, it considers the methods ASIC miners may take to disguise their presence and how they can be detected. The study speculates that 85% of the Monero hashrate comes from ASICs at time of writing.A counterfeiting vulnerability was discovered in Zcash in early 2018. “This vulnerability is so subtle that it evaded years of analysis by expert cryptographers focused on zero-knowledge proving systems and zk-SNARKs.”. It was silently patched with the Sapling network upgrade that occurred on Oct 28, 2018, and this post on Feb 5 explained how the vulnerability had been dealt with within Zcash and how other affected coins (like Horizen and Komodo) were notified. The nature of Zcash cryptography is such that it is difficult to determine if any ZEC was counterfeited while the vulnerability was present. The Zcash team reporting on the bug believes it had not been exploited because “discovery of the vulnerability would have required a high level of technical and cryptographic sophistication that very few people possess.”A Grin developer published a forum post expressing disappointment that a request for donations to fund one of the developers had not been filled after two weeks of the network being online — and threatening to take 20% of the block rewards to fund development. After the news spread, the campaign quickly raised EUR 67,580, surpassing the EUR 55,000 target. As Breaker Mag noted, Grin “attracted tens of millions of dollars in mining investment, but had some trouble raising a mere $62,000 to pay its lead developer for six months”.Ethereum holders are holding another signaling carbonvote about whether they want to change mining algorithm to ProgPoW. The vote started with strong opposition to the change (98% No), but later flipped to strong support (94% Yes) as of Mar 4 (with 3% of circulating ETH having voted). While carbonvote has no official place in Ethereum’s governance, the method is being used because:We have noticed a lot of trolling and shills on both sides of the debates from anonymous accounts on forums, youtube, telegram, gitter, reddit and twitter. There is no way to know if these accounts are real people who actually have economic stakes in ethereum, or are simply fake troll or shill accounts funded by one side of the debate.Tezos started voting for the first amendment to its protocol on Feb 25 (simple guide, detailed guide to amendment process). The amendment process has 4 phases, each lasting 8 “cycles” (a cycle lasts around 3 days, so each phase lasts for around 24 days). In the first phase bakers submit and upvote proposals. There are 2 proposals being evaluated now in the first phase, they both increase the gas limit but one also decreases the minimum “roll size” (amount of XTZ required to be a baker). It is interesting to note that Kialo is being used by some Tezos community members to discuss these proposals. When the first phase ends, the most upvoted proposal will progress to phase 2, where it must be approved by at least 80% of bakers. If the criteria are met, this is followed by a testing phase in which a testnet fork with the changes applied is created and runs for 48 hours (a further testnet matching the proposal may be run for the rest of this phase to allow further testing). After the testing phase, bakers vote on whether the changes should be activated, with an 80% supermajority required. After this 4th phase the changes are activated (or not) and the cycle begins again with new proposals.Dash v0.13.1 was released on Feb 8 to “accelerate adoption of the Dash Core v0.13”. Dash Core v0.13 was intended to activate DIP3 but it had an activation threshold of 80% blocks signaling support from the PoW miners and masternodes in a 7 day window before activation would begin. After failing to meet these criteria for around 24 days, it was decided that the criteria are too stringent and that the requirement for masternodes to signal could be dropped. When enough PoW miners adopt v0.13.1 the change would activate one week later (it activated around Feb 26).0x protocol (ZRX) held its first token holder vote between Feb 18–25. The vote was to approve ZEIP-23 and enable “trade bundles of assets”. The proposal was approved with 99% Yes votes by 5,061,033 ZRX (0.86% of the circulating supply).The NEM Foundation’s funding proposal started voting on Feb 15 and voting was open for 5 days. The funding proposal passed with 90% Yes votes and 10% No votes — with votes from 4.56% of the “Proof of Importance” (NEM’s way of weighting holders’ influence). The vote was conducted on the basis that a 65% supermajority of Yes votes was required, and at least 3% of the network’s POI must vote Yes as a quorum requirement. Voting was conducted from within the NEM wallet by sending 0 XEM transactions to a Yes or No address. Another concurrent proposal to fund “NEM Labs” was also successful, with a similar level of participation and 98.8% approval. The NEM Foundation proposal asked for $8 million in XEM (figure is surprisingly hard to find, could only be found in a google doc presentation), while the NEM Labs proposal asked for $3.27 million.The Aragon Transparency Report for Q4 2018 was released. This report presents a detailed breakdown of spending related to the project. The total spent in Q4 2018 was ~€1,055,484.43 or equivalent in cryptocurrency, with €268K on salaries, €330K on payments to service providers, €45K on sponsoring/tickets for events, €63K on hosting the AraCon conference and €260K on Nest teams (a grants program). This report also describes financial hedging steps which have been taken by Aragon Association — exchanging some of the ETH raised during the ICO to buy other assets.The blacklist issued by the EOS Core Arbitration Forum (ECAF) in Jun 2018 was allowed to lapse when a new Block Producer was rotated in which had not configured the blacklist. This allowed one of the blacklisted addresses to move over 2 million EOS. The lapse occurred because the blacklist has been implemented as a list of addresses from which block producers will not process transactions, with each block producer being responsible for maintaining the blacklist manually. If only one top 21 BP does not have an updated blacklist, blacklisted accounts are vulnerable to being emptied. One solution that has been suggested is to “null the keys” until a decision has been made about what to do with the frozen funds. What to do with the blacklisted funds is already an issue for EOS, and the ECAF itself may be disbanded if an open referendum to “Delete the ECAF” passes (currently on 99% Yes with 2.4% of EOS having voted).Binance is launching its DEX based on Cosmos’ Tendermint protocol and DPoS. The listing fee will “probably be close to $100,000” to “reduce the number of spam or scam projects”. In contrast, Decred’s DEX design has no listing fees and doesn’t require an extra blockchain for its operation.Canadian exchange QuadrigaCX owes its customers $190 million. The funds reportedly cannot be accessed after its founder died, who had sole control or knowledge of exchange’s cold storage solution. Another $500K in BTC were locked “by mistake” per this story. The never ending trail of failures by centralized exchanges shows just how challenging the custody of cryptocurrencies is.Medium showed its power again by suspending the account that posted chain analysis of QuadrigaCX wallets. Luckily, someone made a snapshot. The suspension hides all account’s content and is implemented as a redirect to a same-for-all page that says “This page is unavailable” and does not state the reason. Medium is a powerful platform, but at its core is a centralized service that can lock in data of those who don’t make backups. Earlier behavior like this triggered a discussion about migrating from Medium or treating it as just a mirror.Android malware was discovered on Google Play Store that changes cryptocurrency address in the clipboard. Always double check the address before sending.About This IssueMost 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 and contributions are welcome on Reddit, GitHub and Matrix.Credits (alphabetical order): bee, davecgh, degeri, Dustorf, emiliomann, guang, jholdstock, liz_bagot, matheusd, raedah, sambiohazard. Special thanks to richardred for extensive review of the crypto governance space, and to saender for abstract art images.Decred Journal - February 2019 was originally published in Decred on Medium, where people are continuing the conversation by highlighting and responding to this story.

Decred

19. 03. 19

Decred Journal - January 2019

This post covers what happened in Decred in the month of January. It is the 10th issue of the Decred Journal and you can find the original post on GitHub. Past issues are available via this GitHub link.Decred kicked off 2019 with a month that saw major software releases and significant developments in other parts of the project.A new version of node and wallet software (v1.4.0) was released which will initiate a consensus rules vote (among other things), so timely upgrading is advised.The dcrandroid mobile wallet that uses Decred’s peer to peer SPV mode was released (v1.0) and is available in the Google Play Store.The RFP proposal for the decentralized exchange infrastructure described by @jy-p in a previous blog post was published on Politeia.The community consultation process to define Decred’s foundational messaging was concluded, the tagline selected as part of this messaging is: “Decred: Secure. Adaptable. Self-Funding.” Outreach efforts have shifted to planning the year’s activity, with pre-proposals on events and marketing spending being shared in chat and on reddit.This issue also covers early February, as several important developments happened in the first week of February and it was deemed worthwhile to include these ahead of the February issue.v1.4.0 Upgrade and Consensus VoteNode and wallet software v1.4.0 was released. Full release notes and downloads are on GitHub. As always, make sure to verify the downloads.The release brings significant improvements, along with a proposed change to the consensus rules which fixes a bug with the Lightning Network support. Node operators are advised to upgrade to help the network reach the upgrade threshold. Once upgraded, voters should set their voting preferences. Upgrade progress can be tracked at voting.decred.org.For technical details of the consensus change see DCP0004 and a post by @matheusd.Except for the vote agenda, v1.4.0 final has no other significant changes since Release Candidate 2 which was covered in December.Developmentdcrd: An issue was discovered in v1.4.0 RC1. The large change to UTXO set semantics accidentally fixed a bug in consensus rules. Old incorrect behavior was preserved until a consensus vote can take place to correct it. Thanks to everybody who helped to discover and fix the bug in the release candidate.The code for the consensus vote is completed and included in the final v1.4.0 release. The fix and vote was prioritized because it is required for Lightning Network. DCP004 (Decred Change Proposal) explains the change in detail and reminds of useful applications of relative locks beyond LN. Side effect of this work was refactoring and reinforcement of tests in that area. @matheusd has published a blog post which gives an overview of the bug and how it was found and responded to.Discussion started how to further improve stake difficulty algorithm by removing oscillations — this could make ticket price even more smooth.Decrediton: bug fixes and preparation for v1.4.0 release.A feature to specify config options as command line arguments merged to master.Politeia: Feature to view previous versions of a proposal was enabled.In development: Onboarding popup was replaced with relevant links to docs. Thanks to lemonkabir for discovering a couple of security issues. Cache layer entered review phase.Discussions:Missing admin feature to censor public proposal was identified: there must be a way to remove a public proposal that was edited to include abusive content. Alternatively, admins would have to review all edits before they are shown on the proposals site.Automated end-to-end testing and QA checklist for major changes.Large frontend code refactoring to address complexity, performance and dev productivity issues. First proposed solution is to use GraphQL.dcrandroid: Final version 1.0 was released! Get it on Google Play Store for mainnet or testnet wallets. Test coins can be obtained via the faucet. Feedback is welcome on Reddit and bug reports on GitHub.Since release candidate 2, final version added sync progress display, no wifi alert, new splash screen and minor bug fixes — full changelog here. Congrats dcrandroid team!dcrios: preview is available on Apple TestFlight.dcrdata: New home page design is advancing. Values on the home page now update automatically when new block is found. Exchange rate monitoring was added to the backend that enables showing USD values on the UI. HTTPS is now enforced on explorer and mainnet subdomains (discussion).New home page design that includes exchange rate, new address table views, improved charts and speed optimizations are available in v4 beta at beta.dcrdata.org. Detailed release notes will be compiled with the release candidate.Dev side: @buck54321 is destroying imperative jQuery code. Team is preparing stress testing of Insight API (they call it torture testing, ouch).Ticket splitting: Internal code improvements, preliminary work for Decrediton integration. A monitoring page was set up that shows active splitting sessions from all VSPs that support it.docs: New pages: Operating a VSP outlines configuration requirements and desired skillset of VSP operators, Solo PoS Voting brings the guide by @jz to all docs readers, Address Details describes all possible types of addresses, Contributing to Decred explains how to become a paid Decred contractor.Deep dive security discussion in #documentation concluded that it is possible to assemble general computer security guidelines that will be beneficial for the whole space.decred.org: Huge effort to migrate the site to Hugo was completed by @peter_zen. Hugo is a static site generator written in Go that makes updating site content much easier. Several site speed optimizations were enabled. voting.decred.org dashboard is being updated in preparation for the upcoming consensus vote — congrats @jholdstock with diving into Go!Other:New Bug Bounty website is also built with Hugo. Code repository is open for bug reports and contributions.More terminology changes in dcrwallet, dcrdocs and dcrweb.Projects are gradually switching to a faster golangci-lint linter.More security headers enabled on decred.org.SQL interface to Decred on-chain data might be interesting to researchers.GitHub now allows private repositories with up to 3 collaborators for free accounts.Dev activity stats for January: 242 active PRs, 243 master commits, 60K added and 47K deleted lines spread across 8 repositories. Contributions came from 2–8 developers per repository.PeopleWelcome to new first time contributors with code merged on GitHub: Sarlor (dcrd), laszlolm (decrediton), dezryth (dcrdocs).Congratulations to 6 new contributors listed on decred.org:David Habibi (@eSizeDave, community manager — Australia)Elian Huesca (@elian, community manager — Mexico)Marcelo Martins (@mm, Community Manager — Portugal)Mariusz Szyma (@donmario, community manager — Poland)Morphy Tsai (@morphymore, community manager — Taiwan)Tomasz Porwit (@kozel, education and outreach)4 inactive developers removed from decred.org: Cruz Molina (@freethinkingaway, dcrdata), Huy Nguyen Tuan (@huyntsgs, dcrwallet), Macaulay Davies (@mcedward), Rohit Nagori.Independent Decred contractors published their plans for 2019, thanks to ~15 people who contributed. The post triggered a discussion about roadmaps, central planning and contractor autonomy, as well as commentary from Ditto.GovernanceIn January the Treasury received 16,776 DCR and spent 9,991 DCR. Using January’s daily average DCR/USD rate of $17.1, this is $286K received and $170K spent. As these payments were for work completed in December, it is also informative to consider them in the context of the December average daily rate of $17.5 — in which case the USD received/spent figures are $294K/$175K.Contractors are now getting paid on ~15th of each month for the prior month’s work. The delay between invoicing and getting paid was cut in half from ~30th day. Work is ongoing to further decrease this delay.“RFP: Decred Decentralized Exchange Infrastructure” proposal was submitted by @jy-p. It outlines motivation and high level design of the DEX first described in June 2018 post. The project is estimated to complete in less than 6 months with a budget between USD 100,000 and USD 1,000,000. Voting will happen in 2 phases: the first proposal will determine if stakeholders want to pursue this, if the first proposal is approved then proposals will be invited from interested teams and the second phase will be to select one of these. This process is known as request for proposal.Decred Bug Bounty program launched following a successful proposal vote in December. Check the rules on the new website bounty.decred.org and the intro blog post on hackernoon. Credits to @fernandoabolafio and @jholdstock for majority of the site work. Bounty team who decides on validity of submissions and payouts includes @degeri, @dnldd, @fernandoabolafio, @jholdstock and @matheusd. Congrats team with the launch!@Dustorf is preparing proposals to improve transparency and increase stakeholder’s control of the allocation of funds for the marketing activities. Events spending pre-proposal was published for feedback on Reddit after first iteration in chat. Marketing budget pre-proposal also started in chat and landed on Reddit after a first round of feedback.@oregonisaac is looking for Java developers to evaluate requirements for ATM integration. Draft of the proposal was posted and discussed in chat. There was some consensus to use 2-phase RFP voting. Another good point discussed was whether to wait for mobile apps releases before proceeding with the ATMs.Discussions:Baeond proposal spurred a discussion of an attack vector where stakeholders are offered an airdrop of some token in return for them approving a proposal.Engagement and satisfaction with Politeia so far.How UX enhancements can help voters to pre-emptively address bad proposals and stay vigilant.NetworkHashrate: January’s hashrate opened at ~187 Ph/s and closed ~225 Ph/s, bottoming at 144 Ph/s and peaking at 312 Ph/s throughout the month. As of Feb 8, pool hashrate distribution: Poolin 29%, F2pool 26%, BTC.com 19%, UUPool 8%, Luxor 4%, CoinMine 1% and others are 13% per dcrstats.com. Pool distribution numbers are approximate and cannot be accurately determined.Staking: 30-day average ticket price was 109.4 DCR (+6.4) on Feb 4 per dcrstats.com. The price varied between 101.5–111.6 DCR. Locked amount was 4.20–4.38 million DCR, which corresponded to 46.3–47.5% of the available supply.There were 90 total split tickets in January. Data since May 2018 shows steady growth.Nodes: As of Feb 4 there were 197 public listening nodes and 369 normal nodes per dcred.eu. Version distribution: v1.5.0 dev builds: 4.3% (+2.8%), v1.4.0 dev and rc builds: 13% (+6%), v1.3.0: 55%, v1.2.0: 14% (-6%), v1.1.2: 8% (-2%), v1.1.0: 3% (-1%).MiningObelisk batches 2–5 are shipping, Gen 2 firmware update contains new features and bug fixes. Class action filed over Obelisk’s sale of SC1 and DCR1.Open source Decred mining pool implementation is in the works by @dnldd.IntegrationsNew VSP dcr.grassfed.network joined a list of total 23 VSPs.Exchange integrations:Turkish exchange Bitturk announced DCR/TRY fiat pair, discussion and some background here.Brazilian exchange BitJa announced DCR/BRL fiat pair.Ellipal wallet announced Decred support in latest firmware release.Exodus wallet integrated USDC, a USD-pegged token by Circle.Second episode of infrastructure interview series by @kozel featured Stephen, founder of the luxury goods outlet Crypto Emporium. Stephen shared insights into running a business, accepting crypto, processing orders, supply chain and future plans.Our best selling product on the website has undoubtedly been the famed Decred Jacket! It’s been an honour to serve the Decred community for so long and help market a project I truly believe in.Always do your research before using wallets or services, especially those that take custody of your funds.AdoptionBlueYard announced second fund raise and explained their strategy of investing into contrarian projects.OutreachMarketing team is planning to approach reporters publishing inaccuracies about Decred. As a test case for that workflow one horrible article was scrutinized by the community and Ditto collected the feedback for that and future cases. Ditto has systems to catch every piece of media written about Decred. As they get to know the community better, it will be possible to address inaccuracies in real time. Another issue discussed was integrating Ditto’s corrections workflow with voluntary submissions from the community.Tagline for Decred was extensively discussed in #marketing and on Reddit. Final version of messaging settled it on “Decred: Secure. Adaptable. Self-Funding.” which gathered most support. As time goes this will be revised to adapt to the ever changing space.January update from Ditto:Went through several iterations of the foundational messaging document with significant community input and received positive feedback on the final version. (discussions: second version, final version)Worked with the community to source commentary on 51% attacks for future use with reporters when another attack inevitably happens — the goal being to get Decred’s message in front of journalists even when it doesn’t have any hard news to share.Media trained three Decred members.Secured media coverage: feature article in Forbes (report), video interview with Joshua for Bitsonline, commentary by @richardred on the delay in Ethereum’s hard fork in Breaker Mag and Crypto Briefing.Drafted an announcement of the bug bounty program and placed it in Hacker Noon — thereby reaching a much broader pool of developers, compared to Decred’s own channels.Facilitated two interviews that are pending media coverage.Flew down to the North American Bitcoin Conference, where Ditto facilitated interviews between Decred and reporters (Cheddar TV, Altcoin Buzz, etc.) and spent quality time with the team.Worked closely with Dustin on an events plan that encompasses both events Decred wants to speak at and events it wants to have a booth at.Submitted an application for Jake to speak at Consensus 2019.Worked closely with Dustin on a marketing and communications plan for the first half of 2019, spanning messaging, media training, media relations, events and speaking, and strategy. This plan is still pending.Individuals are advised to share media coverage because amplification is just as important as the media placement itself.For even more detail see the biweekly updates on Jan 7 and Jan 18. Nice discovery in one of them:The community welcomes and encourages questions, even if the person asking fears that their questions are “stupid.” We’ve observed a spirit of collaboration and willingness to help that we haven’t seen in other communities. It’s refreshing!Other:It is rumored that Ditto can arrange a mad beard that entitles one to wear Silver Decred Jacket.@anshawblack dropped Decred merch in all record stores of Miami.Decredible shop was renewed with extra items and new Decred logos. All products can be personalized and tweaked.Urgent Notice: new batch of Stakey plushies is available!EventsAttended:The North American Bitcoin Conference in Miami, USA. Attendance was surprisingly low: 6K people were expected but only 1.8K were claimed after the event. @jy-p’s presentation Applications of Blockchain Time-Stamping was well done and well attended given the overall numbers. 3 members went through media training and found it useful, 7 more are scheduled. Store of value, “Secure. Adaptable. Self-Funding.”, and the accompanying messaging was found to be a very effective way of talking about Decred. It was found to be most clear and impactful. Full report with links to photos and videos here.OKEx Global Meetup Tour in Taipei, Taiwan. @morphymore told the story of Decred and how it works. “Compared to 2018, people are starting to recognize Decred better. A few people told me that they know about Decred from the Chinese translation I did last year of the Placeholder’s Investment Thesis. It was very encouraging and shows that the Decred awareness in Taiwan is indeed growing.” (report, photos)10 lat Bitcoina in Warsaw, Poland. @karamble talked about longevity in cryptocurrencies on the basis of Decred. The team of 4 people established relations with several crypto outlets and engaged with a few businesses. BitHub.pl noted: “The Decred boys were intensely engaged in answering questions of those interested displaying tons of patience at that, since the questions poured in basically all the time!”. (report)Upcoming:Campus Party in Sao Paulo, Brazil on Feb 12–17.How To Keep Your Crypto Secure in Melbourne, Australia on Feb 18.Decred in 30 minutes in Mexico City, Mexico on Feb 27. Contact @elian for details.Jalisco Talent Land in Guadalajara, Mexico on Apr 22–26. Contact @elian if you’re interested in helping/attending.Open source and hacker oriented events like DEFCON, CCC and FOSDEM were discussed and captured in this issue.MediaCommunity initiatives:blog.dcrclub.org is a new website in Chinese that collects various articles and translations in one place. The source hosted on GitHub makes it easy to contribute or mirror the website on other domain for more resiliency. Credits to @TogT4V (Telegram) for starting the site.New Arabic blog about Decred started by @butterfly (@arij on Matrix). There are some challenges with publishing arabic text on the web, advice is welcome in #writers_room.Portuguese podcasts started by @michae2xl, available on Soundcloud, Spotify, Apple Podcasts and Google Podcasts — search for “Decred Brasil”.@decredexplorer is a new Twitter account dedicated to dcrdata. Thanks to @michae2xl for organizing.@Matt D introduced Decred Aggregator Telegram channel. It aims to collect news, press, videos, podcasts, Decred announcements, trending tweets and Reddit posts, as well as market stats.@anshawblack is planning a podcast.Decred page on Wikipedia was deleted. On Jan 8 a user removed a bunch of “bad sources” and on Jan 10 vandalized the page by removing a large and important part of content. Just 4 hours later another user nominated Decred page for deletion — the 3rd attempt to take it down. For background, the author of 2nd nomination for deletion had interesting views on notability and was banned as a sockpuppet. On Jan 11 content removal was reverted and its author was banned as sockpuppet, but next day the removal was applied again by another user without much commentary. After the slicing the page became very small and all reviewers voted to delete it due to lack of reputable sources. All suggested recent articles in major crypto media were deemed not good enough references. On Jan 18 the page was deleted and removed from List of cryptocurrencies that was left with more notable coins. Details and links to discussions are captured in this issue. Experienced Wikipedia editors are welcome to help.Selected articles (chronological order):Understanding Decred Governance by Dr. Bitcoin (Chinese, qq.com, translation, missed in Dec issue)Fundamental Analysis: Decred by Piotr Arendarski (linkedin.com)How to Last the Crypto Winter? Seek Simplicity, Manage Complexity by @jy-p (coindesk.com, tagline was collectively brainstormed in #marketing)Decred — an Interview with the Community Manager @donmario by Janusz Zielinski (bithub.pl)Best Decred Wallets: Top 6 Places to Store Your DCR by Steve Walters (coinbureau.com, a nice case when authors were responsive and corrected all reported issues)Who Should Hold Power? Decred Governance and What It Means For Investors by Leslie Ankney (forbes.com)Decred Independent Contractor Roadmap for 2019 (medium)The Unique Consensus Mechanism of Decred — Is This True Decentralization? by Paul de Havilland (bitsonline)Decred as Store of Value by Yin Guochao, inspired by Forbes article (Chinese, qq.com, translation)Blockchain Project Review: Decred: 8.4 Autonomous Digital Currency by Evaluape (medium, Decred rated 8.4/10)Decred coin review: Replacing BTC? by Edwin (Dutch, bitcoinsaltcoins.nl, Decred scored 8.8/10)3 Cryptocurrencies to HODL during This Crypto Winter (Opinion) by Daniel Frumkin (investinblockchain.com)Fundamental Value in Crypto; Bitcoin and Decred as Store of Value Investments by LCC Investment Research (seekingalpha.com)The role of Decred voters in defending against majority attacks by @richardred (medium)Decentralized off-chain governance in the context of digital currencies by @Haon (goodaudience.com)Decred Infrastructure Interviews: Stephen, founder of crypto-only luxury goods marketplace CryptoEmporium by @kozel (medium)Decred Review by Lee Banfield (weeklyglobalresearch.wordpress.com)Translations:Detailed analysis of Decred fork resistance by @Haon — in Russian by @DZDecred Journal — December 2018 in Chinese by @guang, in Polish by @kozel, in Portuguese by @maiconjunge, in Russian by @DZ and in Spanish by @elian. Wow. Thank you all for spreading Decred Journal around the world! All translations are listed here.Videos:Applications of Blockchain Time-Stamping — talk by @jy-p at TNABC (youtube)Interviews at TNABC: with @joshuam by Hack Crypto, with @joshuam by Bitsonline, with @DZ, with @jz by CNBC Crypto Trader.Governance: Blockchain’s Most Overlooked Pillar — talk by @oregonisaac at Token Forum 2 (tfblock.io)Audio:Taking a Deep Dive into Autonomous Cryptocurrency with Decred — @moo31337 and @BAB talk how decentralized decision-making and self-funding have enabled Decred to build a robust, evolving digital currency, free from third party influence (The Crypto Chick Podcast with Rachel Wolfson, badcryptopodcast.com)Noah Pierau on Blockchain Governance: Decred, Bitcoin, Dash, Ethereum (51percent Crypto Research by Tom Shaughnessy, itunes)How Decred Revolutionizes Funding in Crypto with Marco Peereboom — Michael Nye and Marco discuss current state of crypto, how Decred began, PoW vs PoS, Decred’s funding model and more (Evolvement Podcast, evolvement.io)Community DiscussionsCommunity stats as of Feb 4:Twitter followers: 39,778 (-106)Reddit subscribers: 9,330 (+89)Matrix users: 247 (+26)Slack users: 6,529 (+110)Telegram users: 4,503 (-231)YouTube subscribers: 3,752 (+14)Facebook followers: 3,132 (+11), likes: 2,891 (+11)LinkedIn followers: Decred page 466 (+16), Politeia page 27 (+3)GitHub dcrd stars: 468 (+10), forks: 1,221 (+29)Comm systems news:Slow Twitter follower bleed continues for unkown reasons. Any ideas are welcome.Drop in Telegram user count is likely due to a bot purge.@sambiohazard wrote a thorough plan to address Discord spam, implemented it, and reported no spam after first few weeks. Several important channels were bridged with Discord. With this in place we can finally appreciate Discord as an opportunity to onboard more people. Thank you!decred.org/matrix guides new matrix users into the system.decred-issues grew to 105 issues as of Feb 9. Check it out, perhaps you’ll find something interesting to do!Criticism from Bitcoin maximalists triggered a discussion on how Decred looks in context of securities laws. One vector critics use is that Decred’s premine and airdrop was not fair and “hand selected”. This is a misrepresentation of the (huge) manual effort to filter out airdrop cheaters, per this discussion that also has many useful links describing Decred’s launch. One interesting insight shared is that ~300K (35%) airdropped coins never moved. Another related chat was about Twitter attacks claiming how Decred’s initial distribution was not transparent or fair, while avoiding inconvenient facts about Bitcoin’s early mining and Satoshi’s million BTC. Finally, a history lesson explained early days of staking and made a point that original devs had no unilateral control of consensus rules from day 1.Huge debate about importance of building Reddit community here.MarketsIn January DCR was trading between USD 15.5–19.5 / BTC 0.00435–0.00487. The average daily rate was $17.1.Relevant ExternalEthereum Classic (ETC) was subject to a 51% attack, with the alert being raised by CoinNess on Jan 7. Coinbase then announced that it had detected a deep reorganization of the ETC chain and had halted ETC transactions. The article lists a number of reorgs that involved double spends, putting the total amount involved at $1.1 million, across 15 distinct reorg events. Coinbase was not itself a target for these attacks. The Gate.io exchange subsequently announced that it had been targeted and had lost around $200K, and that it would absorb the loss. Gate.io also significantly increased the number of confirmations required for ETC deposits. In an unusual development, the attacker then returned $100K of the ETC to Gate.io, they have tried but failed to make contact with the attacker and do not know the reason for the return of funds. Other victims of the ETC double spends have not come forward.Ethereum’s developers decided (tentatively) on Jan 4 to go ahead with a change of mining algorithm from Ethash to ProgPoW. This move is intended to stop ASICs from mining Ethereum. The Block outlined concerns like reduced attack cost after the switch, weaker incentives of GPU miners, questionable benefit of transfer of power from Bitmain and Innosilicon to AMD and Nvidia, and a possible chain split. They concluded that the debate around the algorithm switch will be a good test for Ethereum’s governance process.Ethereum developers also delayed the Constantinople hard fork on Jan 15 after a security vulnerability which would have enabled a “reentrancy attack” was detected.Fundamentals of Proof of Work article by David Vorick makes the case for exclusive hardware cryptocurrencies and contrasts them with shared hardware cryptocurrencies that suffer from multiple issues, especially those pursuing ASIC resistance. One of the issues with non specialized hardware is that the hardware’s value is not closely related to the asset (because it can mine many other chains). Another issue is hashrate marketplaces, they allow hardware owners to get more profit by not caring about which coin they mine, even if the hashrate is rented to attackers. Decred benefits from specialized hardware and is by far the dominant coin for its algorithm (Blake256r14). Although this hardware cannot be considered “exclusive” to Decred, in addition to current hashrate dominance for its algorithm Decred has the PoS factor which is capable of denying rewards to misbehaving miners.The first round of Aragon proposal voting concluded on Jan 26. Of the 12 submitted proposals, 3 were excluded from the vote by the Aragon Foundation (1 because of lack of full time leadership and engineering talent, 2 were excluded to reduce cognitive load on voters). 8 of the 9 proposals voted on were approved by ANT holders, with one proposal (to change the voting period duration from 48 hours to 1 week) rejected. ANT participation rates ranged from 2.3 to 7.8%. The most expensive proposal to be approved will pay Aragon One $4 million for 2019 operating costs plus an incentive package consisting of 1.675 million ANT on a 5 year vesting schedule. An incentive in ANT with a vesting schedule was included as part of most proposals, in addition to the main cost to be paid in DAI. In total this round of approved proposals will cost around $5.94 million + 2.52 million ANT (~$880K).The EOS referendum system for constitutional amendments went live on Jan 11. So far 77 proposals have been submitted. The voting period for these proposals is flexible and specified by the submitter, some last as long as four months. The proposals with the most votes (as of Jan 31) have votes from around 2% of circulating EOS, but most proposals have very low participation (only 10 have greater than 0.5% participation). So far the most popular proposals are to change where the fees for short names and RAM purchases go, delete the EOS Core Arbitration Forum, and burn the inflation funds in eosio.saving (to be used for funding the worker proposal system).The NEM Foundation announced that it is in financial difficulty and needs to downsize its workforce. A new council took over the foundation on Jan 1 and when they opened the books they saw a problem. The previous council had a burn rate of 9 million XEM per month ($360K now, considerably more at the time) which was spent by independent regional entities on promotional activities with little accountability. This was deemed not sustainable, and the new council has restructured the foundation and is presently seeking additional funds.Updated version of the “forkonomy” research by Wassim Alsindi (@parallelind) was published along with an up-to-date follow-up.Hcash forked a few more Decred projects: Autonomy (Politeia), hcexplorer and hctime. In Politeia, they accidentally removed copyright of Decred developers and forgot to rename the project. After being notified they quickly reacted by removing multiple repositories, reinstating the license and renaming the Politeia fork to Autonomy. A few missed subtle Decred icons were fixed. Some projects were forked with their commit history erased and without marking them as forks on GitHub. Complaints (1, 2) on their subreddit were silently censored with no reply. Oh, and r/hcash styles look familiar. Discussed here.A sad example of what can happen when the team runs out of money.ICO projects withdrew ~441K ETH ($52.5M as of Feb 9) from treasuries in December 2018.Staked, a startup that provides staking services for institutional investors, raised $4.5M from Pantera, Coinbase, DCG and others. Covered by CoinDesk, The Block and Bloomberg. Staked operates a Decred VSP since Nov 2018.Binance now allows one to buy crypto with Visa and MasterCard (and the list of restrictions tells us something about fiat).Coinbase banned accounts of social media platform Gab. This is not the first big case of account suspension by the exchange.Medium censored an article “How to use Bitcoin anonymously” which spurred discussion and an issue about migrating away from it, or at least treating it as one of multiple content mirrors. Backup your Medium posts, just in case.Bank for International Settlements released a very optimistic study of cryptocurrencies.Vulnerability was discovered in digital signatures of Bitcoin and a few other systems. A tiny set of signatures was generated using an incorrect implementation of signature algorithm which can be used to reveal private keys. Only a few thousand signatures were vulnerable out of nearly a billion Bitcoin signatures examined. According to researchers, the vast majority of cryptocurrency users need not worry.Largest data breach in history contains a collection of thousands of hacked databases. Choose wisely who you share data with.Cryptopia was hacked with loss estimates varying between $3–16 million. Binance froze some funds coming from the hack.New wave of hAnt infections (first seen in August) was reported targeting Bitcoin mining rigs. The ransomware demands to infect 1,000 other devices or pay 10 BTC, else it threatens to burn the rig. There have been no reports of destroyed equipment so far.Resource exhaustion vulnerability known as Fake Stake attack was discovered in 26+ blockchains based on PoSv3, the majority of them deployed mitigations. Part of the root cause is that in many such systems the Proof of Stake layer was “grafted in” to the Bitcoin Core codebase insecurely. One of report’s authors tweeted that Decred is not affected.About This IssueThis is the 10th issue of Decred Journal. Index of all issues, mirrors and translations is available here.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 and contributions are welcome on Reddit, GitHub and Matrix.Credits (alphabetical order): bee, davecgh, degeri, Dustorf, guang, Haon, jholdstock, liz_bagot, lukebp, matheusd, richardred, saender, zubairzia0.Decred Journal - January 2019 was originally published in Decred on Medium, where people are continuing the conversation by highlighting and responding to this story.

Decred

19. 02. 20

Decred Journal - January 2019

This post covers what happened in Decred in the month of January. It is the 10th issue of the Decred Journal and you can find the original post on GitHub. Past issues are available via this GitHub link.Decred kicked off 2019 with a month that saw major software releases and significant developments in other parts of the project.A new version of node and wallet software (v1.4.0) was released which will initiate a consensus rules vote (among other things), so timely upgrading is advised.The dcrandroid mobile wallet that uses Decred’s peer to peer SPV mode was released (v1.0) and is available in the Google Play Store.The RFP proposal for the decentralized exchange infrastructure described by @jy-p in a previous blog post was published on Politeia.The community consultation process to define Decred’s foundational messaging was concluded, the tagline selected as part of this messaging is: “Decred: Secure. Adaptable. Self-Funding.” Outreach efforts have shifted to planning the year’s activity, with pre-proposals on events and marketing spending being shared in chat and on reddit.This issue also covers early February, as several important developments happened in the first week of February and it was deemed worthwhile to include these ahead of the February issue.v1.4.0 Upgrade and Consensus VoteNode and wallet software v1.4.0 was released. Full release notes and downloads are on GitHub. As always, make sure to verify the downloads.The release brings significant improvements, along with a proposed change to the consensus rules which fixes a bug with the Lightning Network support. Node operators are advised to upgrade to help the network reach the upgrade threshold. Once upgraded, voters should set their voting preferences. Upgrade progress can be tracked at voting.decred.org.For technical details of the consensus change see DCP0004 and a post by @matheusd.Except for the vote agenda, v1.4.0 final has no other significant changes since Release Candidate 2 which was covered in December.Developmentdcrd: An issue was discovered in v1.4.0 RC1. The large change to UTXO set semantics accidentally fixed a bug in consensus rules. Old incorrect behavior was preserved until a consensus vote can take place to correct it. Thanks to everybody who helped to discover and fix the bug in the release candidate.The code for the consensus vote is completed and included in the final v1.4.0 release. The fix and vote was prioritized because it is required for Lightning Network. DCP004 (Decred Change Proposal) explains the change in detail and reminds of useful applications of relative locks beyond LN. Side effect of this work was refactoring and reinforcement of tests in that area. @matheusd has published a blog post which gives an overview of the bug and how it was found and responded to.Discussion started how to further improve stake difficulty algorithm by removing oscillations — this could make ticket price even more smooth.Decrediton: bug fixes and preparation for v1.4.0 release.A feature to specify config options as command line arguments merged to master.Politeia: Feature to view previous versions of a proposal was enabled.In development: Onboarding popup was replaced with relevant links to docs. Thanks to lemonkabir for discovering a couple of security issues. Cache layer entered review phase.Discussions:Missing admin feature to censor public proposal was identified: there must be a way to remove a public proposal that was edited to include abusive content. Alternatively, admins would have to review all edits before they are shown on the proposals site.Automated end-to-end testing and QA checklist for major changes.Large frontend code refactoring to address complexity, performance and dev productivity issues. First proposed solution is to use GraphQL.dcrandroid: Final version 1.0 was released! Get it on Google Play Store for mainnet or testnet wallets. Test coins can be obtained via the faucet. Feedback is welcome on Reddit and bug reports on GitHub.Since release candidate 2, final version added sync progress display, no wifi alert, new splash screen and minor bug fixes — full changelog here. Congrats dcrandroid team!dcrios: preview is available on Apple TestFlight.dcrdata: New home page design is advancing. Values on the home page now update automatically when new block is found. Exchange rate monitoring was added to the backend that enables showing USD values on the UI. HTTPS is now enforced on explorer and mainnet subdomains (discussion).New home page design that includes exchange rate, new address table views, improved charts and speed optimizations are available in v4 beta at beta.dcrdata.org. Detailed release notes will be compiled with the release candidate.Dev side: @buck54321 is destroying imperative jQuery code. Team is preparing stress testing of Insight API (they call it torture testing, ouch).Ticket splitting: Internal code improvements, preliminary work for Decrediton integration. A monitoring page was set up that shows active splitting sessions from all VSPs that support it.docs: New pages: Operating a VSP outlines configuration requirements and desired skillset of VSP operators, Solo PoS Voting brings the guide by @jz to all docs readers, Address Details describes all possible types of addresses, Contributing to Decred explains how to become a paid Decred contractor.Deep dive security discussion in #documentation concluded that it is possible to assemble general computer security guidelines that will be beneficial for the whole space.decred.org: Huge effort to migrate the site to Hugo was completed by @peter_zen. Hugo is a static site generator written in Go that makes updating site content much easier. Several site speed optimizations were enabled. voting.decred.org dashboard is being updated in preparation for the upcoming consensus vote — congrats @jholdstock with diving into Go!Other:New Bug Bounty website is also built with Hugo. Code repository is open for bug reports and contributions.More terminology changes in dcrwallet, dcrdocs and dcrweb.Projects are gradually switching to a faster golangci-lint linter.More security headers enabled on decred.org.SQL interface to Decred on-chain data might be interesting to researchers.GitHub now allows private repositories with up to 3 collaborators for free accounts.Dev activity stats for January: 242 active PRs, 243 master commits, 60K added and 47K deleted lines spread across 8 repositories. Contributions came from 2–8 developers per repository.PeopleWelcome to new first time contributors with code merged on GitHub: Sarlor (dcrd), laszlolm (decrediton), dezryth (dcrdocs).Congratulations to 6 new contributors listed on decred.org:David Habibi (@eSizeDave, community manager — Australia)Elian Huesca (@elian, community manager — Mexico)Marcelo Martins (@mm, Community Manager — Portugal)Mariusz Szyma (@donmario, community manager — Poland)Morphy Tsai (@morphymore, community manager — Taiwan)Tomasz Porwit (@kozel, education and outreach)4 inactive developers removed from decred.org: Cruz Molina (@freethinkingaway, dcrdata), Huy Nguyen Tuan (@huyntsgs, dcrwallet), Macaulay Davies (@mcedward), Rohit Nagori.Independent Decred contractors published their plans for 2019, thanks to ~15 people who contributed. The post triggered a discussion about roadmaps, central planning and contractor autonomy, as well as commentary from Ditto.GovernanceIn January the Treasury received 16,776 DCR and spent 9,991 DCR. Using January’s daily average DCR/USD rate of $17.1, this is $286K received and $170K spent. As these payments were for work completed in December, it is also informative to consider them in the context of the December average daily rate of $17.5 — in which case the USD received/spent figures are $294K/$175K.Contractors are now getting paid on ~15th of each month for the prior month’s work. The delay between invoicing and getting paid was cut in half from ~30th day. Work is ongoing to further decrease this delay.“RFP: Decred Decentralized Exchange Infrastructure” proposal was submitted by @jy-p. It outlines motivation and high level design of the DEX first described in June 2018 post. The project is estimated to complete in less than 6 months with a budget between USD 100,000 and USD 1,000,000. Voting will happen in 2 phases: the first proposal will determine if stakeholders want to pursue this, if the first proposal is approved then proposals will be invited from interested teams and the second phase will be to select one of these. This process is known as request for proposal.Decred Bug Bounty program launched following a successful proposal vote in December. Check the rules on the new website bounty.decred.org and the intro blog post on hackernoon. Credits to @fernandoabolafio and @jholdstock for majority of the site work. Bounty team who decides on validity of submissions and payouts includes @degeri, @dnldd, @fernandoabolafio, @jholdstock and @matheusd. Congrats team with the launch!@Dustorf is preparing proposals to improve transparency and increase stakeholder’s control of the allocation of funds for the marketing activities. Events spending pre-proposal was published for feedback on Reddit after first iteration in chat. Marketing budget pre-proposal also started in chat and landed on Reddit after a first round of feedback.@oregonisaac is looking for Java developers to evaluate requirements for ATM integration. Draft of the proposal was posted and discussed in chat. There was some consensus to use 2-phase RFP voting. Another good point discussed was whether to wait for mobile apps releases before proceeding with the ATMs.Discussions:Baeond proposal spurred a discussion of an attack vector where stakeholders are offered an airdrop of some token in return for them approving a proposal.Engagement and satisfaction with Politeia so far.How UX enhancements can help voters to pre-emptively address bad proposals and stay vigilant.NetworkHashrate: January’s hashrate opened at ~187 Ph/s and closed ~225 Ph/s, bottoming at 144 Ph/s and peaking at 312 Ph/s throughout the month. As of Feb 8, pool hashrate distribution: Poolin 29%, F2pool 26%, BTC.com 19%, UUPool 8%, Luxor 4%, CoinMine 1% and others are 13% per dcrstats.com. Pool distribution numbers are approximate and cannot be accurately determined.Staking: 30-day average ticket price was 109.4 DCR (+6.4) on Feb 4 per dcrstats.com. The price varied between 101.5–111.6 DCR. Locked amount was 4.20–4.38 million DCR, which corresponded to 46.3–47.5% of the available supply.There were 90 total split tickets in January. Data since May 2018 shows steady growth.Nodes: As of Feb 4 there were 197 public listening nodes and 369 normal nodes per dcred.eu. Version distribution: v1.5.0 dev builds: 4.3% (+2.8%), v1.4.0 dev and rc builds: 13% (+6%), v1.3.0: 55%, v1.2.0: 14% (-6%), v1.1.2: 8% (-2%), v1.1.0: 3% (-1%).MiningObelisk batches 2–5 are shipping, Gen 2 firmware update contains new features and bug fixes. Class action filed over Obelisk’s sale of SC1 and DCR1.Open source Decred mining pool implementation is in the works by @dnldd.IntegrationsNew VSP dcr.grassfed.network joined a list of total 23 VSPs.Exchange integrations:Turkish exchange Bitturk announced DCR/TRY fiat pair, discussion and some background here.Brazilian exchange BitJa announced DCR/BRL fiat pair.Ellipal wallet announced Decred support in latest firmware release.Exodus wallet integrated USDC, a USD-pegged token by Circle.Second episode of infrastructure interview series by @kozel featured Stephen, founder of the luxury goods outlet Crypto Emporium. Stephen shared insights into running a business, accepting crypto, processing orders, supply chain and future plans.Our best selling product on the website has undoubtedly been the famed Decred Jacket! It’s been an honour to serve the Decred community for so long and help market a project I truly believe in.Always do your research before using wallets or services, especially those that take custody of your funds.AdoptionBlueYard announced second fund raise and explained their strategy of investing into contrarian projects.OutreachMarketing team is planning to approach reporters publishing inaccuracies about Decred. As a test case for that workflow one horrible article was scrutinized by the community and Ditto collected the feedback for that and future cases. Ditto has systems to catch every piece of media written about Decred. As they get to know the community better, it will be possible to address inaccuracies in real time. Another issue discussed was integrating Ditto’s corrections workflow with voluntary submissions from the community.Tagline for Decred was extensively discussed in #marketing and on Reddit. Final version of messaging settled it on “Decred: Secure. Adaptable. Self-Funding.” which gathered most support. As time goes this will be revised to adapt to the ever changing space.January update from Ditto:Went through several iterations of the foundational messaging document with significant community input and received positive feedback on the final version. (discussions: second version, final version)Worked with the community to source commentary on 51% attacks for future use with reporters when another attack inevitably happens — the goal being to get Decred’s message in front of journalists even when it doesn’t have any hard news to share.Media trained three Decred members.Secured media coverage: feature article in Forbes (report), video interview with Joshua for Bitsonline, commentary by @richardred on the delay in Ethereum’s hard fork in Breaker Mag and Crypto Briefing.Drafted an announcement of the bug bounty program and placed it in Hacker Noon — thereby reaching a much broader pool of developers, compared to Decred’s own channels.Facilitated two interviews that are pending media coverage.Flew down to the North American Bitcoin Conference, where Ditto facilitated interviews between Decred and reporters (Cheddar TV, Altcoin Buzz, etc.) and spent quality time with the team.Worked closely with Dustin on an events plan that encompasses both events Decred wants to speak at and events it wants to have a booth at.Submitted an application for Jake to speak at Consensus 2019.Worked closely with Dustin on a marketing and communications plan for the first half of 2019, spanning messaging, media training, media relations, events and speaking, and strategy. This plan is still pending.Individuals are advised to share media coverage because amplification is just as important as the media placement itself.For even more detail see the biweekly updates on Jan 7 and Jan 18. Nice discovery in one of them:The community welcomes and encourages questions, even if the person asking fears that their questions are “stupid.” We’ve observed a spirit of collaboration and willingness to help that we haven’t seen in other communities. It’s refreshing!Other:It is rumored that Ditto can arrange a mad beard that entitles one to wear Silver Decred Jacket.@anshawblack dropped Decred merch in all record stores of Miami.Decredible shop was renewed with extra items and new Decred logos. All products can be personalized and tweaked.Urgent Notice: new batch of Stakey plushies is available!EventsAttended:The North American Bitcoin Conference in Miami, USA. Attendance was surprisingly low: 6K people were expected but only 1.8K were claimed after the event. @jy-p’s presentation Applications of Blockchain Time-Stamping was well done and well attended given the overall numbers. 3 members went through media training and found it useful, 7 more are scheduled. Store of value, “Secure. Adaptable. Self-Funding.”, and the accompanying messaging was found to be a very effective way of talking about Decred. It was found to be most clear and impactful. Full report with links to photos and videos here.OKEx Global Meetup Tour in Taipei, Taiwan. @morphymore told the story of Decred and how it works. “Compared to 2018, people are starting to recognize Decred better. A few people told me that they know about Decred from the Chinese translation I did last year of the Placeholder’s Investment Thesis. It was very encouraging and shows that the Decred awareness in Taiwan is indeed growing.” (report, photos)10 lat Bitcoina in Warsaw, Poland. @karamble talked about longevity in cryptocurrencies on the basis of Decred. The team of 4 people established relations with several crypto outlets and engaged with a few businesses. BitHub.pl noted: “The Decred boys were intensely engaged in answering questions of those interested displaying tons of patience at that, since the questions poured in basically all the time!”. (report)Upcoming:Campus Party in Sao Paulo, Brazil on Feb 12–17.How To Keep Your Crypto Secure in Melbourne, Australia on Feb 18.Decred in 30 minutes in Mexico City, Mexico on Feb 27. Contact @elian for details.Jalisco Talent Land in Guadalajara, Mexico on Apr 22–26. Contact @elian if you’re interested in helping/attending.Open source and hacker oriented events like DEFCON, CCC and FOSDEM were discussed and captured in this issue.MediaCommunity initiatives:blog.dcrclub.org is a new website in Chinese that collects various articles and translations in one place. The source hosted on GitHub makes it easy to contribute or mirror the website on other domain for more resiliency. Credits to @TogT4V (Telegram) for starting the site.New Arabic blog about Decred started by @butterfly (@arij on Matrix). There are some challenges with publishing arabic text on the web, advice is welcome in #writers_room.Portuguese podcasts started by @michae2xl, available on Soundcloud, Spotify, Apple Podcasts and Google Podcasts — search for “Decred Brasil”.@decredexplorer is a new Twitter account dedicated to dcrdata. Thanks to @michae2xl for organizing.@Matt D introduced Decred Aggregator Telegram channel. It aims to collect news, press, videos, podcasts, Decred announcements, trending tweets and Reddit posts, as well as market stats.@anshawblack is planning a podcast.Decred page on Wikipedia was deleted. On Jan 8 a user removed a bunch of “bad sources” and on Jan 10 vandalized the page by removing a large and important part of content. Just 4 hours later another user nominated Decred page for deletion — the 3rd attempt to take it down. For background, the author of 2nd nomination for deletion had interesting views on notability and was banned as a sockpuppet. On Jan 11 content removal was reverted and its author was banned as sockpuppet, but next day the removal was applied again by another user without much commentary. After the slicing the page became very small and all reviewers voted to delete it due to lack of reputable sources. All suggested recent articles in major crypto media were deemed not good enough references. On Jan 18 the page was deleted and removed from List of cryptocurrencies that was left with more notable coins. Details and links to discussions are captured in this issue. Experienced Wikipedia editors are welcome to help.Selected articles (chronological order):Understanding Decred Governance by Dr. Bitcoin (Chinese, qq.com, translation, missed in Dec issue)Fundamental Analysis: Decred by Piotr Arendarski (linkedin.com)How to Last the Crypto Winter? Seek Simplicity, Manage Complexity by @jy-p (coindesk.com, tagline was collectively brainstormed in #marketing)Decred — an Interview with the Community Manager @donmario by Janusz Zielinski (bithub.pl)Best Decred Wallets: Top 6 Places to Store Your DCR by Steve Walters (coinbureau.com, a nice case when authors were responsive and corrected all reported issues)Who Should Hold Power? Decred Governance and What It Means For Investors by Leslie Ankney (forbes.com)Decred Independent Contractor Roadmap for 2019 (medium)The Unique Consensus Mechanism of Decred — Is This True Decentralization? by Paul de Havilland (bitsonline)Decred as Store of Value by Yin Guochao, inspired by Forbes article (Chinese, qq.com, translation)Blockchain Project Review: Decred: 8.4 Autonomous Digital Currency by Evaluape (medium, Decred rated 8.4/10)Decred coin review: Replacing BTC? by Edwin (Dutch, bitcoinsaltcoins.nl, Decred scored 8.8/10)3 Cryptocurrencies to HODL during This Crypto Winter (Opinion) by Daniel Frumkin (investinblockchain.com)Fundamental Value in Crypto; Bitcoin and Decred as Store of Value Investments by LCC Investment Research (seekingalpha.com)The role of Decred voters in defending against majority attacks by @richardred (medium)Decentralized off-chain governance in the context of digital currencies by @Haon (goodaudience.com)Decred Infrastructure Interviews: Stephen, founder of crypto-only luxury goods marketplace CryptoEmporium by @kozel (medium)Decred Review by Lee Banfield (weeklyglobalresearch.wordpress.com)Translations:Detailed analysis of Decred fork resistance by @Haon — in Russian by @DZDecred Journal — December 2018 in Chinese by @guang, in Polish by @kozel, in Portuguese by @maiconjunge, in Russian by @DZ and in Spanish by @elian. Wow. Thank you all for spreading Decred Journal around the world! All translations are listed here.Videos:Applications of Blockchain Time-Stamping — talk by @jy-p at TNABC (youtube)Interviews at TNABC: with @joshuam by Hack Crypto, with @joshuam by Bitsonline, with @DZ, with @jz by CNBC Crypto Trader.Governance: Blockchain’s Most Overlooked Pillar — talk by @oregonisaac at Token Forum 2 (tfblock.io)Audio:Taking a Deep Dive into Autonomous Cryptocurrency with Decred — @moo31337 and @BAB talk how decentralized decision-making and self-funding have enabled Decred to build a robust, evolving digital currency, free from third party influence (The Crypto Chick Podcast with Rachel Wolfson, badcryptopodcast.com)Noah Pierau on Blockchain Governance: Decred, Bitcoin, Dash, Ethereum (51percent Crypto Research by Tom Shaughnessy, itunes)How Decred Revolutionizes Funding in Crypto with Marco Peereboom — Michael Nye and Marco discuss current state of crypto, how Decred began, PoW vs PoS, Decred’s funding model and more (Evolvement Podcast, evolvement.io)Community DiscussionsCommunity stats as of Feb 4:Twitter followers: 39,778 (-106)Reddit subscribers: 9,330 (+89)Matrix users: 247 (+26)Slack users: 6,529 (+110)Telegram users: 4,503 (-231)YouTube subscribers: 3,752 (+14)Facebook followers: 3,132 (+11), likes: 2,891 (+11)LinkedIn followers: Decred page 466 (+16), Politeia page 27 (+3)GitHub dcrd stars: 468 (+10), forks: 1,221 (+29)Comm systems news:Slow Twitter follower bleed continues for unkown reasons. Any ideas are welcome.Drop in Telegram user count is likely due to a bot purge.@sambiohazard wrote a thorough plan to address Discord spam, implemented it, and reported no spam after first few weeks. Several important channels were bridged with Discord. With this in place we can finally appreciate Discord as an opportunity to onboard more people. Thank you!decred.org/matrix guides new matrix users into the system.decred-issues grew to 105 issues as of Feb 9. Check it out, perhaps you’ll find something interesting to do!Criticism from Bitcoin maximalists triggered a discussion on how Decred looks in context of securities laws. One vector critics use is that Decred’s premine and airdrop was not fair and “hand selected”. This is a misrepresentation of the (huge) manual effort to filter out airdrop cheaters, per this discussion that also has many useful links describing Decred’s launch. One interesting insight shared is that ~300K (35%) airdropped coins never moved. Another related chat was about Twitter attacks claiming how Decred’s initial distribution was not transparent or fair, while avoiding inconvenient facts about Bitcoin’s early mining and Satoshi’s million BTC. Finally, a history lesson explained early days of staking and made a point that original devs had no unilateral control of consensus rules from day 1.Huge debate about importance of building Reddit community here.MarketsIn January DCR was trading between USD 15.5–19.5 / BTC 0.00435–0.00487. The average daily rate was $17.1.Relevant ExternalEthereum Classic (ETC) was subject to a 51% attack, with the alert being raised by CoinNess on Jan 7. Coinbase then announced that it had detected a deep reorganization of the ETC chain and had halted ETC transactions. The article lists a number of reorgs that involved double spends, putting the total amount involved at $1.1 million, across 15 distinct reorg events. Coinbase was not itself a target for these attacks. The Gate.io exchange subsequently announced that it had been targeted and had lost around $200K, and that it would absorb the loss. Gate.io also significantly increased the number of confirmations required for ETC deposits. In an unusual development, the attacker then returned $100K of the ETC to Gate.io, they have tried but failed to make contact with the attacker and do not know the reason for the return of funds. Other victims of the ETC double spends have not come forward.Ethereum’s developers decided (tentatively) on Jan 4 to go ahead with a change of mining algorithm from Ethash to ProgPoW. This move is intended to stop ASICs from mining Ethereum. The Block outlined concerns like reduced attack cost after the switch, weaker incentives of GPU miners, questionable benefit of transfer of power from Bitmain and Innosilicon to AMD and Nvidia, and a possible chain split. They concluded that the debate around the algorithm switch will be a good test for Ethereum’s governance process.Ethereum developers also delayed the Constantinople hard fork on Jan 15 after a security vulnerability which would have enabled a “reentrancy attack” was detected.Fundamentals of Proof of Work article by David Vorick makes the case for exclusive hardware cryptocurrencies and contrasts them with shared hardware cryptocurrencies that suffer from multiple issues, especially those pursuing ASIC resistance. One of the issues with non specialized hardware is that the hardware’s value is not closely related to the asset (because it can mine many other chains). Another issue is hashrate marketplaces, they allow hardware owners to get more profit by not caring about which coin they mine, even if the hashrate is rented to attackers. Decred benefits from specialized hardware and is by far the dominant coin for its algorithm (Blake256r14). Although this hardware cannot be considered “exclusive” to Decred, in addition to current hashrate dominance for its algorithm Decred has the PoS factor which is capable of denying rewards to misbehaving miners.The first round of Aragon proposal voting concluded on Jan 26. Of the 12 submitted proposals, 3 were excluded from the vote by the Aragon Foundation (1 because of lack of full time leadership and engineering talent, 2 were excluded to reduce cognitive load on voters). 8 of the 9 proposals voted on were approved by ANT holders, with one proposal (to change the voting period duration from 48 hours to 1 week) rejected. ANT participation rates ranged from 2.3 to 7.8%. The most expensive proposal to be approved will pay Aragon One $4 million for 2019 operating costs plus an incentive package consisting of 1.675 million ANT on a 5 year vesting schedule. An incentive in ANT with a vesting schedule was included as part of most proposals, in addition to the main cost to be paid in DAI. In total this round of approved proposals will cost around $5.94 million + 2.52 million ANT (~$880K).The EOS referendum system for constitutional amendments went live on Jan 11. So far 77 proposals have been submitted. The voting period for these proposals is flexible and specified by the submitter, some last as long as four months. The proposals with the most votes (as of Jan 31) have votes from around 2% of circulating EOS, but most proposals have very low participation (only 10 have greater than 0.5% participation). So far the most popular proposals are to change where the fees for short names and RAM purchases go, delete the EOS Core Arbitration Forum, and burn the inflation funds in eosio.saving (to be used for funding the worker proposal system).The NEM Foundation announced that it is in financial difficulty and needs to downsize its workforce. A new council took over the foundation on Jan 1 and when they opened the books they saw a problem. The previous council had a burn rate of 9 million XEM per month ($360K now, considerably more at the time) which was spent by independent regional entities on promotional activities with little accountability. This was deemed not sustainable, and the new council has restructured the foundation and is presently seeking additional funds.Updated version of the “forkonomy” research by Wassim Alsindi (@parallelind) was published along with an up-to-date follow-up.Hcash forked a few more Decred projects: Autonomy (Politeia), hcexplorer and hctime. In Politeia, they accidentally removed copyright of Decred developers and forgot to rename the project. After being notified they quickly reacted by removing multiple repositories, reinstating the license and renaming the Politeia fork to Autonomy. A few missed subtle Decred icons were fixed. Some projects were forked with their commit history erased and without marking them as forks on GitHub. Complaints (1, 2) on their subreddit were silently censored with no reply. Oh, and r/hcash styles look familiar. Discussed here.A sad example of what can happen when the team runs out of money.ICO projects withdrew ~441K ETH ($52.5M as of Feb 9) from treasuries in December 2018.Staked, a startup that provides staking services for institutional investors, raised $4.5M from Pantera, Coinbase, DCG and others. Covered by CoinDesk, The Block and Bloomberg. Staked operates a Decred VSP since Nov 2018.Binance now allows one to buy crypto with Visa and MasterCard (and the list of restrictions tells us something about fiat).Coinbase banned accounts of social media platform Gab. This is not the first big case of account suspension by the exchange.Medium censored an article “How to use Bitcoin anonymously” which spurred discussion and an issue about migrating away from it, or at least treating it as one of multiple content mirrors. Backup your Medium posts, just in case.Bank for International Settlements released a very optimistic study of cryptocurrencies.Vulnerability was discovered in digital signatures of Bitcoin and a few other systems. A tiny set of signatures was generated using an incorrect implementation of signature algorithm which can be used to reveal private keys. Only a few thousand signatures were vulnerable out of nearly a billion Bitcoin signatures examined. According to researchers, the vast majority of cryptocurrency users need not worry.Largest data breach in history contains a collection of thousands of hacked databases. Choose wisely who you share data with.Cryptopia was hacked with loss estimates varying between $3–16 million. Binance froze some funds coming from the hack.New wave of hAnt infections (first seen in August) was reported targeting Bitcoin mining rigs. The ransomware demands to infect 1,000 other devices or pay 10 BTC, else it threatens to burn the rig. There have been no reports of destroyed equipment so far.Resource exhaustion vulnerability known as Fake Stake attack was discovered in 26+ blockchains based on PoSv3, the majority of them deployed mitigations. Part of the root cause is that in many such systems the Proof of Stake layer was “grafted in” to the Bitcoin Core codebase insecurely. One of report’s authors tweeted that Decred is not affected.About This IssueThis is the 10th issue of Decred Journal. Index of all issues, mirrors and translations is available here.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 and contributions are welcome on Reddit, GitHub and Matrix.Credits (alphabetical order): bee, davecgh, degeri, Dustorf, guang, Haon, jholdstock, liz_bagot, lukebp, matheusd, richardred, saender, zubairzia0.Decred Journal - January 2019 was originally published in Decred on Medium, where people are continuing the conversation by highlighting and responding to this story.

Decred

19. 02. 20

Update on the Decred 1.4 re...

Decred aims to be a self-funded and community-directed digital currency whose security and adaptability make it a superior store of value. To further this mission, the 1.4 software was released to the public.All users, Proof-of-Work (PoW) miners, and Proof-of-Stake (PoS) voters on the Decred network are encouraged to upgrade their software! If a majority upgrades before the 1st of March, the upcoming 1.4 consensus vote will start with the next Rule Change Interval.Benefits of the 1.4 releaseRegular software upgrades are needed to advance the Decred project. The new release contains multiple improvements such as smart fee estimation, performance enhancements, speed optimizations, improved SPV wallets, various updates to the RPC server, and improvements to the infrastructure and quality assurance. The 1.4 release also contains a consensus vote to upgrade the Decred protocol itself (see below).The user friendly Decrediton wallet, which runs on the Decred daemon, has also been updated. Apart from the benefits listed above, Decrediton users can now create wallets that support Trezor transactions. Furthermore, several small changes were made to improve the Decrediton user interface. Users are encouraged to upgrade for a better user experience.Downgrade WarningThe database format in v1.4.0 is not compatible with previous versions of the software. People upgrading from previous versions will see a one time database migration. Once this migration has been completed, it will not be possible to downgrade to a previous version of the software without having to delete the database and re-download the chain.Attention! Please make sure that you have a back-up of your seed (the 33-word passphrase). As long as you have the seed, your coins will be safe.The upcoming 1.4 consensus voteThe release notes state that in order to fully support the Lightning Network, current consensus rules need to be modified. For this reason, a new vote called fixlnseqlocks is now available.The changes to the Decred protocol that will be voted upon are described in this Decred Change Proposal (DCP0004). Matheus Degiovani has written an excellent technical analysis on the importance of this vote.You are all encouraged to learn more about how the voting process works, and how you can participate.Track the voting processA consensus vote can only begin when PoW miners and PoS voters upgrade their software to create blocks with the latest version. Anyone can track the upgrade progress via the Decred Voting Dashboard:Solo miners and voters are urged to upgrade their software before the 1st of March to start the voting process as soon as possible.If you are mining in a PoW pool or if you are using a Voting Service Provider, please check if the operator upgraded the pool software to the latest release and contact them if necessary.Concluding thought:Do your own research, ask questions, and encourage everyone to upgrade to the 1.4 release!Update on the Decred 1.4 release was originally published in Decred on Medium, where people are continuing the conversation by highlighting and responding to this story.

Decred

19. 02. 19

Update on the Decred 1.4 re...

Decred aims to be a self-funded and community-directed digital currency whose security and adaptability make it a superior store of value. To further this mission, the 1.4 software was released to the public.All users, Proof-of-Work (PoW) miners, and Proof-of-Stake (PoS) voters on the Decred network are encouraged to upgrade their software! If a majority upgrades before the 1st of March, the upcoming 1.4 consensus vote will start with the next Rule Change Interval.Benefits of the 1.4 releaseRegular software upgrades are needed to advance the Decred project. The new release contains multiple improvements such as smart fee estimation, performance enhancements, speed optimizations, improved SPV wallets, various updates to the RPC server, and improvements to the infrastructure and quality assurance. The 1.4 release also contains a consensus vote to upgrade the Decred protocol itself (see below).The user friendly Decrediton wallet, which runs on the Decred daemon, has also been updated. Apart from the benefits listed above, Decrediton users can now create wallets that support Trezor transactions. Furthermore, several small changes were made to improve the Decrediton user interface. Users are encouraged to upgrade for a better user experience.Downgrade WarningThe database format in v1.4.0 is not compatible with previous versions of the software. People upgrading from previous versions will see a one time database migration. Once this migration has been completed, it will not be possible to downgrade to a previous version of the software without having to delete the database and re-download the chain.Attention! Please make sure that you have a back-up of your seed (the 33-word passphrase). As long as you have the seed, your coins will be safe.The upcoming 1.4 consensus voteThe release notes state that in order to fully support the Lightning Network, current consensus rules need to be modified. For this reason, a new vote called fixlnseqlocks is now available.The changes to the Decred protocol that will be voted upon are described in this Decred Change Proposal (DCP0004). Matheus Degiovani has written an excellent technical analysis on the importance of this vote.You are all encouraged to learn more about how the voting process works, and how you can participate.Track the voting processA consensus vote can only begin when PoW miners and PoS voters upgrade their software to create blocks with the latest version. Anyone can track the upgrade progress via the Decred Voting Dashboard:Solo miners and voters are urged to upgrade their software before the 1st of March to start the voting process as soon as possible.If you are mining in a PoW pool or if you are using a Voting Service Provider, please check if the operator upgraded the pool software to the latest release and contact them if necessary.Concluding thought:Do your own research, ask questions, and encourage everyone to upgrade to the 1.4 release!Update on the Decred 1.4 release was originally published in Decred on Medium, where people are continuing the conversation by highlighting and responding to this story.

Decred

19. 02. 19

Decred Journal - December 2018

This post covers what happened in Decred in the month of December. It is the 9th issue of the Decred Journal and you can find the original post on GitHub. Past issues are available via this GitHub link.December was a month of considerable progress, capping off a phenomenally productive year for the Decred Project. Some of the earliest Politeia approved proposals are beginning to gain momentum, with Ditto personnel joining the comms channels to work on the messaging and outreach plans for 2019 in collaboration with the broader community.Release candidates of core software v1.4.0 are available for download on GitHub. Enthusiasts are invited to try them while regular users are advised to wait for the final release. As always, verify the signatures to ensure the software is coming unaltered directly from the developers.The dcrandroid wallet for Android OS also saw its first release candidates available on the Google Play store. This benefits from Decred’s SPV mode which allows it to protect user privacy by requesting blocks directly from the P2P network instead of a centralized service provider — rare for mobile wallets. In addition to the caution about release candidates, please be aware that the mobile environment presents additional security concerns and is not advisable for large sums of DCR.While December has been a rough month for the space with prices dropping and funding contractions, Decred remains unfazed and the stage is set for continued expansion and acceleration through 2019.Happy New Year to all readers from the Decred Journal team!Developmentdcrd: v1.4.0 RC2 was released. This version includes the smart fee estimator that allows the user to either minimize mining delay or the fee, depending on needs. The feature is important for Lightning Network and as a general mechanism to handle network congestion. Whitelisted inbound peers are now allowed regardless of connection limit so that operators can always allow their own SPV clients. Several performance improvements to initial sync, validation and network operations are included. Users choosing to upgrade should note there is a one-time database migration which will take 30–60 minutes depending on hardware. See full list of changes in the release notes.A vulnerability was patched in go get tool that allowed remote code execution when using a malicious repository. Decred software was not affected. On a related note, for dcrd all changes to dependencies except the Go runtime are audited. That is part of the reason it takes so much effort to prepare dcrd releases and why the number of dependencies should be limited. More details in this chat.Discussion started to implement Child Pays For Parent (CPFP) in dcrd.dcrwallet: v1.4.0 RC2 release fixes a lot of bugs related to SPV and error handling and adds a host of new gRPC endpoints that will enable new features in end user UIs. Tor connections to dcrd node are now possible with the proxy mode. Default transaction relay fee was dropped to 0.0001 DCR given sufficient network upgrades. More changes in the release notes.Decrediton: v1.4.0 RC2 release features initial Trezor support, design improvements and many bug fixes. Initial Trezor support allows users to use Decrediton as a “watch-only” wallet that signs transactions with Trezor. The feature will be hidden behind a config option until it gets enough testing. Staking is not supported yet but is planned in the near future. More generally, watch-only wallets are now able to create unsigned transactions that can be transferred to another device for signing and broadcasting. Governance page received a large overhaul and an important feature to notify users about new proposals and votes. New page to choose between SPV and fully validating mode is now shown on first load. Initial dark theme can be enabled in Settings (the colors are being finalized). More details for these and other changes are in release notes.On the master branch (i.e. not included in the 1.4 release), Decrediton can now be built for Raspberry Pi.A lot of design work is completed and ready for implementation.Politeia: latest security tightening earned Politeia an A+ rating from securityheaders.com, which placed it in the site’s top 3% and (briefly) in the Hall of Fame. A feature to view old proposal versions is added as part of a larger version diff viewer that needs more work. politeiavoter now retries failed requests which fixes Tor usage. Comment vote score calculation was fixed by moving it from politeiad to politeiawww. Proposals now cannot be abandoned after voting was authorized. These and smaller fixes will be available on the proposals site after the next deployment.In progress are admin data backups and two big changes to scale the server: cache layer and websockets support.dcrandroid: v1.0.0 release candidate 2 is available on Google Play for mainnet and testnet. Seed verification and seed restore interfaces were completely redone, several bugs fixed. The list of improvements can be found on GitHub. Discussion and feedback here.Next RC to be released shortly will include several minor bug fixes as well as a better display of the status during initial sync which was requested by a handful of people.Focus has been on streamlining the setup experience for new users since that’s the first thing they will see and can sometimes be tedious.Limitations of wallet encryption and risks of staking on insecure Android smartphones were discussed in this chat.dcrios: has mostly just been syncing up with the changes from Android. iOS testing releases will be made available as soon as Android 1.0 is done.dcrdata: v3.1.1 is released on the main site. Highlights include new pages for sidechains and disapproved blocks, major performance improvements, Go modules support, non-javascript mode improvements (thanks from an anti-js dinosaur!). See full release notes here. The release includes 129 commits from 4 months of work made by 16 code contributors. Congrats to dcrdata team!On master, a feature to download transactions for a single address as a CSV is finished. Several large refactors are merged to employ modern frontend best practices.Public dcrdata Tor service was temporarily shut down after a DDoS attack. After some discussion it was brought back at dcrdata2opeenddl.onion.Developers can check the new Docker image to build and test dcrdata and a new FAQ page on the wiki.Ticket splitting: v0.7.0 and v0.7.2 released. Highlights: SPV client support (read on the privacy caveats), better security with session token, OpenBSD support and better reporting. Find the downloads on GitHub. Verify the signatures to make sure the binaries really come from @matheusd.docs: building on redirection infrastructure laid out earlier, work began to tidy up URLs and directory structure. Agenda Voting was changed to Consensus Rules Voting. Translation framework was removed. Glossary was extended with new terms. Added new guide for SPV. Updated Politeia docs by grouping Politeia pages together, adding pages for Proposal Guidelines page and Example Proposal.decred.org: page headers were changed from javascript to videos, Rocket.Chat removed from the Community page, Decred Business Brief is now available as a web page in addition to the PDF download.Other:@matheusd proposed a proof of concept offline tx signer that allows one to sign transactions on a different machine (Raspberry Pi). Let him know if you would like to see this developed further.authit is a proof of concept UI for timestamping files via dcrtime. Source code is now under decred organization, discussion is here. Credits to @fernandoabolafio, @tiagoalvesdulce and @vctt.@devwarrior is working on a proof of concept UI for atomic swaps. Contact him in chat to collaborate and bring it to Decred.Pull request adding QTUM support to atomicswap was submitted, feel free to join review and testing. An earlier Ethereum support pull request can also benefit from more eyeballs.Decred command line tools can be built to run on Alpine Linux that uses musl (cleaner implementation of libc), read this chat for details.Efforts to coordinate vital Decred article translations are being undertaken to introduce a greater, non-English speaking user base to core Decred concepts.Dev activity stats for December: 230 active PRs, 196 master commits, 33K added and 106K deleted lines spread across 8 repositories. Contributions came from 3–9 developers per repository. (chart)PeopleWelcome to new first time contributors: aerth (dcrwallet), @guang (decrediton) and tpkeeper (politeia).30000fps has been a Decred design contributor since summer of 2018. One goal of his work has been about bringing illuminating development by finding meaningful ways to visualize and illustrate the processes and features otherwise unseen. Examples can be seen from the recent development visuals (upcoming v1.4.0 release (4 MB), Politeia release, v1.3.0 release), as well as the overhaul of decred.org animated subpage headers.3 contributors were removed from the decred.org website.Several contractors shared their onboarding experiences in this chat, which is a good, first-hand account to read in order to understand what the onboarding process might look like, particularly of note to those potentially interested in becoming Decred contractors. @richardred published an excellent Working for the Decred DAE post that describes his Decred journey in some detail.Several independent contractors are preparing a community roadmap document where they outline their plans for 2019.GovernanceIn December the Treasury received 17,016 DCR and spent 12,570 DCR. Using December’s daily average DCR/USD rate of $17.5, this is $298K received and $220K spent. As these payments were for work completed in November, it is also informative to consider them in the context of the November average daily rate of $32.5 — in which case the USD received/spent figures are $553K/$409K.Here are short proposal updates as of Jan 10. Please do not rely on them to form your opinion about the proposals and read the original texts and discussions on Politeia.Open Source Research 2: Politeia data research and Git contributor analysis are progressing, 4 new research ideas were posted in the proposal. Please comment and cast your comment votes to give research contributors a better feel for what is most useful.Stablecoin proposal was mostly criticized, author cancelled the proposal.Coffee Wallet integration: the owner offered to reduce the requested amount but the community was generally not too excited about paying for integrations. Proposal was inactive for some time and marked as abandoned, the proposal owner later returned to say that they did not mean to abandon it.Rejected proposals: Radio ads (69% No), Decredex (96% No), Bcash’s ATM integration (89% No); participation varied between 24–31% of tickets.Baeond futurepunk autonomous card game: discussions ongoing, author engaged in comments and chat and updated the proposal in response to feedback, many people are confused about how it will benefit Decred.Smart Reach partnership: discussions ongoing.Bug bounty proposal was approved with 90% Yes and 30% participation. @degeri showed a great example of going through all the stages: join the community and demonstrate the ability to do useful work, identify something missing, draft an idea and put it through several rounds of feedback, submit a proposal, engage with commenters and adjust it further, and finally gain approval. A notable fact here is that Decred is one of the few projects where a pseudonymous contributor can build up trust and become successful by establishing a track record of delivering high quality work.To avoid common mistakes and build a successful proposal, make sure to read the new Proposal Guidelines by @s_ben (inspired by an excellent comment by @nnnko56).Company 0 is not charging the Treasury for its privacy work, as clarified in this thread.Discussions: this chat discusses staying frugal with the Treasury spending, especially during bad market conditions. This thread dismantled common arguments against Decred’s governance system: “we don’t know if the governance system works because it hasn’t failed yet” and “there hasn’t been anything controversial yet”. Turns out it’s hard for controversy to build up in a system explicitly design to avoid it.A much more nuanced coverage of Politeia activity is provided by @richardred in Politeia Digest issue 8 and issue 9. The digest captures a lot of interesting details for every proposal. Issue 9 contains a review of 2018 Politeia data since its launch. You can find all past issues and leave feedback here.NetworkHashrate: December’s hashrate opened at around 167 Ph/s and closed around 183 Ph/s, peaking at 207 Ph/s and bottoming at 110 Ph/s throughout the course of the month. For the most part, the average was 150 Ph/s. As of Jan 10, pool hashrate distribution: poolin 34%, F2pool 27%, UUPool 7.4%, btc.com 7%, Luxor 3.8%, BeePool 2.6%, coinmine 1.1%, others are 17% per dcrstats.com. Pool distribution numbers are approximate and cannot be accurately determined.Staking: 30-day average ticket price was 103 DCR (+0) per dcrstats.com. The price varied between 101 DCR and 107 DCR. Locked amount was 4.14–4.23 million DCR, which corresponded to 46.3–47.1% of the available supply.Nodes: As of Jan 1 there were 192 public listening nodes and 253 normal ones per dcred.eu. Version distribution: 1.5% are v1.5.0(pre) dev builds, 1.8% on v1.4.0(rc1), 5.3% on v1.4.0(pre) (-1.2%), 55% on v1.3.0 (+5%), 20% on v1.2.0 (-5%), 10% on v1.1.2 (-1%), 4% on v1.1.0 (-1%).There are many more interesting stats we’d like to present in this section, let us know if you can help.Block 300,000 was mined in December and the mined DCR is now over 9,000,000. Congratulations to all!MiningWhatsminer D1:review was posted in Chinese (Google translation)Luxor posted a setup guideWhatsminer.net reported to have shipped all batch 1 ordersBitmain’s Antminer DR5 miner was introduced on Twitter and met with some criticism. Specs: 34 Th/s at 1,800 W, prices start from $1,400. This thread discussed the unit along with challenges for small or hobbyist miners.Be careful when ordering miners from eBay, you may get just the weight.IntegrationsThe hardware wallet company Ledger announced that the long-awaited DCR integration is complete:We are excited to announce that the Ledger Nano S and Ledger Blue are now compatible with Decred. Decred is now available on Ledger Live and marks the first native Ledger Live integration since its launch. Read more here (@LedgerHQ)DCR storage is possible through Ledger Live, an application that now acts as a one-stop-shop for accessing and interacting with your crypto assets since Ledger discontinued the use of their respective apps earlier this year.Cobo Wallet announced a custodial staking service. Discussed here.For any wallet software and hardware, always do your own research and ask how it works. Do you control the keys? Do you lose consensus and Politeia voting rights? Does it talk to Decred full nodes directly or through intermediaries? Does the service share your data with 3rd parties? Is the source code open and auditable?OutreachDecember marked an exciting month for Decred, as Ditto began work. The first initiative was to make introductions and determine workflow. You’ll now see our good friends, Liz Bagot (@liz_bagot), Trey Ditto (@treydpr), Margaret Mei (@margaret_mei), Blain Rethmeier (@blainr), and Milvian Preito (@milvian) in various Matrix rooms, including #marketing, #ditto_pr, and #writers_room.Work began in earnest on messaging, which can be viewed here. Continued input is always valued. Concurrently, we’re working with the design team to integrate new messaging into the site and to expand the content with new pages further explaining important aspects of Decred.Messaging should be agreed upon in January, and a work will begin on the website. A plan including events and other tactics will also be published in January. (@Dustorf)Ditto people joined #marketing and the room was very hot throughout the month with lots of brainstorming and discussions about messaging.@Dustorf, @jy-p and Ditto met in New York and posted a report in chat. Among other things, they discussed challenges related to attracting new developers and contributors, spreading the word about Decred to knowledgeable investors, institutions, and governments, as well as going over the long term vision for the project.Trey published Ditto’s big picture look at 2019 and the strategy for Decred. Following that a survey was held on Reddit asking the community how would they describe Decred, what media do they read and how they think Decred should target developers.Mid-December @liz_bagot gave the inaugural Ditto Bi-Weekly Update, and later summarized the work for December:Had a 2.5-hour onboarding session with Dustin and Jake in our Brooklyn office in early December.Created a foundational messaging platform containing a breakdown of Decred’s audiences, an about section, a mission statement, a vision statement, and positioning statements for each unique audience. We submitted the messaging platform to the Decred community for feedback and intend to do another iteration of the document that incorporates the feedback in January.Attended and sent reporters from Breaker Mag, Forbes, and Fortune to Decred’s meet up in NYC.Arranged and staffed interviews between couple big outlets and Decred community members. No set publication dates yet.We pitched Jake’s commentary on 2019 crypto predictions with crypto reporters and secured coverage in NullTX, Crypto Briefing, The Daily Hodl and CCN.Now a total of 5 well-known community members have the rights to tweet via @decredproject Twitter account. You can read about how it works here.EventsDecred held it’s first meetup in New York City on Dec 5 at Distributed Global in the flatiron district in NYC. The audience of about 80 people included VC’s, developers from other projects, media, and members of the Decred community. @jy-p gave a Decred overview presentation (photo), then delved into the technical details of the Politeia Proposal System including how it works and the potential breadth of its applications.Next, Chris Dannen, Founder of Iterative Capital, discussed the way work has evolved, particularly in the era of free open-source software. Iterative Capital’s Thesis explains this thinking in much greater detail. He explained how Decred’s treasury brilliantly dovetails into a massive work trend that gives workers desired autonomy and enables them to do their best work.Finally, Chris Burniske and Joel Monegro of Placeholder VC held a fireside chat explaining Decred’s value from the perspective of an institutional investor. Chris revealed the financial reasoning, including:Team — btcsuite when released was as good as anything put out by Bitcoin CoreHybrid PoW/PoS system is more secure than any other networkTreasury funding allows development to be funded long termFork resistance — Decred is designed to keep the community together through consensusJoel shared his appreciation for Decred’s governance system, and its ability to make Decred polymorphic, adding features and functionality as the community decides. They concluded that Decred is built/designed for a multi-decade horizon. They shared some of the good work they’re doing to on behalf of Decred with respect to custodianship, exchanges, and institutional staking, and concluded that the biggest issue Decred currently faces is liquidity.Founders Night took place next day on Dec 6, and was Distributed Global’s holiday party. They brought in all their fund managers from various offices, and invited their investors, partners, and members of various projects within their portfolio. It was a great opportunity to meet those various constituencies and build relationships for future events in NYC. Spring is being targeted for the next Decred event in NYC.Other attended events:Presentation in Technology University in Amozoc, Mexico. @elian talked to students about skills for the future and noted: “As part of my experience, I briefly talk about Decred as an innovative project in which digital skills become essential tools for collaboration. This was not a crypto meetup but rather a motivational talk for BA students to push them to acquire digital skills, this is a small university far outside big cities so this kind of content is very appreciated. As part of my experience in technology and digital industries, I share with them my experience working in an open source project like Decred as an example of the opportunities that arise from the internet industries. I think it was very interesting for them to realize that there is a massive economy flowing through the Internet with endless possibilities.”. (photo)Introduction to Decred in Toronto, Canada. @michae2xl and @zubairzia0 hosted the event and noted that despite small attendance the people were looking to connect with a local Decred community and were excited to help to organize next event. (photo)Upcoming:OKEx Taiwan MeetUp in Taipei, Taiwan on Jan 17. The first half of the event will be intros by the 3 projects (Decred, EOS and NEM, 20 min each), and the other half will be a panel discussing around on-chain voting (30 min). @morphymore will be speaking.Binance Blockchain Week in Singapore on Jan 21–22. @guang will attend and represent Decred.10 lat Bitcoina in Warsaw, Poland on Jan 26. @karamble will deliver a presentation at the conference celebrating the 10th anniversary of the Bitcoin whitepaper and Bitcoin itself. Decred specifics are to be announced.TabConf in Atlanta, USA on Feb 8–10. @moo31337 will present “Decred 101: An introduction to Decred” on Feb 9.The North American Bitcoin Conference in Miami, USA on Jan 16–18. @jy-p will present Politeia and explore a wide variety of applications that could utilize it. Please message @Dustorf if you’re interested to help out at the show.Campus Party in Sao Paulo, Brazil on Feb 12–17. Decred will have speakers and a dedicated area for hackathons.Jalisco Talent Land in Guadalajara, Mexico on Apr 22–26. Decred will have a booth. @elian will present an overview of Decred with Q&A, plus there will be walkthroughs how to use software and vote. Contact @elian if you’re interested in helping/attending.Ask in #event_planning room for any questions.MediaSelected articles:Bitcoin Miners Go Silent As Price Falls (cryptobriefing.com, also in Chinese)Detailed analysis of Decred fork resistance by @Haon (medium)Decred and Ditto in 2019 by Trey Ditto (medium, community survey and discussion here)Fundamental Pick: Decred by BBOD Research (blog.bbod.io, also in Chinese and Japanese)Decred Co-founder Pronounces 2018 as the “Death of the ICO Model” (nulltx.com)2018 in 4 Words — ICOs and Ethereum Died (ccn.com)The practical cypherpunk: Marco Peereboom of Decred (coinrivet.com)Decred: Governance and Funding Reimagined (51pct.io)Working for the Decred DAE by @richardred (medium)Translations:Decred Journal — November 2018 in Spanish by @elian, in Polish by @kozel and in Russian by @DZ, in Chinese by @guang. November issue was the biggest so far (59 KiB), thank you all for the epic translation effort!All translations of Decred Journal are linked on the home pageDetailed analysis of Decred fork resistance by @Haon — in Polish by @kozelHow to Get Hired as a Decred Contractor by @Haon — in Chinese by @guangVideos:On The Record w/ Murad Mahmudov — Bitcoin for 2019 on Tone Vays show (youtube, Decred explanation around 1h mark)Audio:Free Talk Live 2018–10–27 Interview with Marco Peereboom of Decred at the Texas Bitcoin Conference (soundcloud, missed in Oct issue)Unchained episode 100, Past Guests and Listeners Take Over the Show (unchainedpodcast.co, @joshuam at 55:12)Episode 18: Murad Mahmudov on Bitcoin (didyouknowcrypto.com). Topics covered are utopianism, Austrian economics, the coming recession, the future of Bitcoin, and that Decred should be in top 3.Community DiscussionsCommunity stats as of Jan 1:Twitter followers: 39,884 (-120)Reddit subscribers: 9,241 (+110)Matrix users: 221 (+18)Slack users: 6419 (+66)Telegram users: 4734 (+92)YouTube subscribers: 3738 (+2)Facebook followers: 3121 (+16), likes: 2880 (+13)LinkedIn followers: Decred page 450 (+17), Politeia page 24 (+4)GitHub dcrd stars: 458 (+11), forks: 1192 (+33)On top of that there are Telegram communities in Chinese (661, +119), Portuguese (435, +99) and Italian (120) languages. Also, @michae2xl is running @decredproject on Instagram with 396 followers as of Jan 6.Comm systems news:@dhill shot down a bug in matterbridge that blocked the relay of messages from Slack to other platforms. Please report any bridge issues you notice.#smart_contracts channel was archived due to inactivity.Rocket.Chat is being retired.Prototype community issue tracker was started to discuss actionable ideas in a more structured format. Any idea that benefits the project can be discussed. As of Jan 10 there are 73 issues like article ideas, PR, archiving and data preservation, or discussion of communication platforms. For example, this issue captures a challenging task to find a good name for Decred’s hybrid PoW/PoS consensus algorithm and lists all options suggested so far. You can subscribe to everything with the Watch button on top, or to individual issues with Subscribe button on the right panel. There is a popular belief that “GitHub is for developers” — this is not the case. Posting issues and comments and ‘+1’ is no harder than using Reddit or chat and in fact multiple non-developers already contribute doing just that.Reddit incident showed us another weakness in the platform. Multiple threads were started and spurred useful discussion, but were later removed by the author. This wasted the effort of all people who bothered to reply. The deleted threads were somewhat resurrected, but generally this incident shows an attack/sabotage vector: trigger the discussion and then delete the thread, wasting community’s energy. Reddit has no defense from this as moderators cannot disallow users to delete their content. The event has led to a discussion of a Reddit replacement that could probably derive from Politeia.For yet another time, a lot of strange Reddit activity was timed close to our major release. It is either an unusual amount of questions about less relevant issues, or “innocent” questions about trivial things, or something similar. All coming from accounts never seen before and that stay after the short interaction. This notice is to inform people who care about the project to watch out for weird activity that can sap project’s, as well as your individual energy. Read this chat for more details.MarketsIn December DCR was trading between USD 14.2–21.4 / BTC 0.0042–0.0058. The average daily rate was $17.5. A short price rise to USD 20.9 / BTC 0.0058 happened on volume increased to USD 5–6 million compared to USD 0.8–1.2 million on other days. Note that the trading volume data is not reliable, as noted below.Relevant ExternalVertcoin (VTC) was the subject of a majority (51%) attack (4 incidents) in which 22 reorgs and 15 double spends occurred, costing the victims around $100,000. This reaffirms the vulnerability of coins that are not the dominant use for their miners (GPU-mineable or ASIC-resistant, but also Bitcoin forks) to be attacked by miners who have appropriate hardware and no interest in the health of the blockchain. One of the impacts of these attacks is that the coin comes to be regarded as insecure, because it has failed in its purpose before. Anyone who is still willing to accept it may require a very high number of confirmations before confirming a transfer, making the coin slow to move.The Horizen (previously ZenCash) team lead recently announced a strategic action to increase the Treasury block rewards from 10% to 20%, reducing the share of rewards for miners. After a 90% reduction in price, and significant reductions to staffing and other costs, it was felt that to cut costs any further would mean jeopardizing the project. As the Treasury system being developed by IOHK is still a prototype not yet ready for use, the Horizen team felt the need to make a unilateral decision to change the block reward.EOS block producer began paying holders that voted for it.The first round of voting on Aragon Governance Proposals (AGPs) has been delayed due to potential network instability around the Ethereum Constantinople hard fork — hopefully “blockchain down for maintenance” is not a problem Decred will encounter with Politeia. The CEO of Aragon Association published a blacklist and wishlist for proposals before proposal submissions opened. In the first proposal the AGP process itself was approved by 99.97% of the ANT that voted. In total 2.6% of all ANT tokens voted on the first proposal, from 45 unique addresses, with ~60% of ANT votes coming from one address. AGPs go through a review by the board of the Aragon Association, then a community review, before a 48 hour voting period opens.2 million BTCP were mined via an exploit and went unnoticed for months until CoinMetrics noticed that something is wrong with the supply. Developer team posted an official statement confirming the inflation exploit. The bug was merged on Jan 5 2018 together with a patch from a bounty hunter that disengaged after receiving the reward for his work. Just one missing line of code caused huge damage to the network’s value proposition. We can learn a lot from this unfortunate experience: extensive test coverage, super critical review of consensus code, established reputation of developers working on mission critical parts, and having multiple implementations of the protocol are all very important to build a system we can trust money to.There was an attack on Bitcoin’s Electrum infrastructure. Someone started a lot of malicious Electrum servers that prompted the user to “upgrade” to a malware version and stole 200+ BTC. The Electrum model involves a network of servers that sit between clients and full nodes. Each client depends on the server they connect to, this compromises user privacy as the owners of those servers can infer which wallets the users own. If Electrum servers were compromised this would open up some additional attacks. Decred chose not to develop Electrum infrastructure but instead go straight for SPV based on client-side filters. This delayed the development of light clients, but the SPV mode now working in dcrwallet, Decrediton and drcandroid connects to full nodes directly and functions independently of any service provider, which enhances users’ privacy as a result.Security researchers demonstrated multiple ways to hack most popular hardware wallets, if in physical possession of the device.Latest exchanges trading volume report by blockchaintransparency.org concluded that of the coinmarketcap.com top 25 BTC pairs over 80% of volume is wash traded. Another unhappy finding is that the average project spent over $50,000 on listing fees. The report has spurred the idea to analyze the trading volume for DCR.Coinbase seeks to own the term “BUIDL”.Many cryptocurrency services and projects seem to be owned or co-owned by just a handful of entities with banks at the top.Several centralized exchanges failed to serve withdrawals during the annual Proof-of-Keys event.Slack accidently blocked people who visited Iran before. Later Slack apologized for the incident and clarified the situation. But the signal is clear and not surprising: Slack Technologies is a (venture funded) U.S. corporation that complies with U.S. laws. In contrast, Matrix rooms can be federated over multiple servers, so even if some participating servers are shut down, servers in other jurisdictions can keep serving the chat and history.There have been a number of articles in December about layoffs in the cryptocurrency space (and some saying it’s not so bad relative to other sectors). For other projects with Treasuries, these are also hard times, as noted for Horizen above and can be seen in some Dash community discussions. We can thank the people who managed the Treasury in the pre-Politeia era for its healthy balance, this is the reason that Decred is still looking to expand its workforce while other projects contract. With DCR at $17.5 for December, that will likely be the first month where Treasury outgoings are greater than the incoming block rewards. Even if DCR/USD stays low for some time, the Treasury could maintain its current USD-equivalent spending for several years (rough estimate is 8) at this rate before cut-backs became necessary.Amid the larger wave of layoffs in the crypto sphere, Bitmain allegedly fired its entire staff of Bitcoin Cash developers, which included the Copernicus team.Copernicus is an implementation of the Bitcoin Cash protocol written in Go that utilizes btcsuite. The pre-release version of software was announced and mined its first block in December. On their website the authors thank btcsuite developers for their work and acknowledge their contribution to the Bitcoin ecosystem. On the blog Copernicus team noted that the software “reorganizes and redesigns the software structure for the original client in order to make the structure more concise, reduce the learning difficulty for developers and increase diversity of clients to ensure safety of the entire BCH network”.Copernicus is not the first effort to diversify Bitcoin Cash’s network that already had several C++, Rust and JavaScript implementations in development. In September, two other implementations of Bitcoin Cash written in Go were unveiled. Gocoin-cash comes from the creators of counterparty.cash and is based on gocoin (another full Bitcoin node implementation in Go). bchd in turn comes from OpenBazaar developer Chris Pacia. In the initial announcement of bchd Chris noted that btcsuite is “one of the best designed and well-written Bitcoin codebases” and explained that it allows to engage more developers and build new features faster, compared to C++ implementations. It also gave them the private client-side SPV “for free”. The beta was announced in November — two months since forking from btcd the team grew to 9 contributors and implemented several improvements over btcd.The relevance and good news for Decred here is that a lot more developers are looking at btcsuite codebase now, on which Decred is based and can benefit from.About This IssueChinese translation by @guang is available on Medium, Weibo and GitHub.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 and contributions are welcome on Reddit, GitHub and Matrix.Credits (alphabetical order): bee, Dustorf, guang, Haon, kozel, liz_bagot, oregonisaac, raedah, richardred, saender, zubairzia0.Decred Journal - December 2018 was originally published in Decred on Medium, where people are continuing the conversation by highlighting and responding to this story.

Decred

19. 01. 22

Decred Journal - December 2018

This post covers what happened in Decred in the month of December. It is the 9th issue of the Decred Journal and you can find the original post on GitHub. Past issues are available via this GitHub link.December was a month of considerable progress, capping off a phenomenally productive year for the Decred Project. Some of the earliest Politeia approved proposals are beginning to gain momentum, with Ditto personnel joining the comms channels to work on the messaging and outreach plans for 2019 in collaboration with the broader community.Release candidates of core software v1.4.0 are available for download on GitHub. Enthusiasts are invited to try them while regular users are advised to wait for the final release. As always, verify the signatures to ensure the software is coming unaltered directly from the developers.The dcrandroid wallet for Android OS also saw its first release candidates available on the Google Play store. This benefits from Decred’s SPV mode which allows it to protect user privacy by requesting blocks directly from the P2P network instead of a centralized service provider — rare for mobile wallets. In addition to the caution about release candidates, please be aware that the mobile environment presents additional security concerns and is not advisable for large sums of DCR.While December has been a rough month for the space with prices dropping and funding contractions, Decred remains unfazed and the stage is set for continued expansion and acceleration through 2019.Happy New Year to all readers from the Decred Journal team!Developmentdcrd: v1.4.0 RC2 was released. This version includes the smart fee estimator that allows the user to either minimize mining delay or the fee, depending on needs. The feature is important for Lightning Network and as a general mechanism to handle network congestion. Whitelisted inbound peers are now allowed regardless of connection limit so that operators can always allow their own SPV clients. Several performance improvements to initial sync, validation and network operations are included. Users choosing to upgrade should note there is a one-time database migration which will take 30–60 minutes depending on hardware. See full list of changes in the release notes.A vulnerability was patched in go get tool that allowed remote code execution when using a malicious repository. Decred software was not affected. On a related note, for dcrd all changes to dependencies except the Go runtime are audited. That is part of the reason it takes so much effort to prepare dcrd releases and why the number of dependencies should be limited. More details in this chat.Discussion started to implement Child Pays For Parent (CPFP) in dcrd.dcrwallet: v1.4.0 RC2 release fixes a lot of bugs related to SPV and error handling and adds a host of new gRPC endpoints that will enable new features in end user UIs. Tor connections to dcrd node are now possible with the proxy mode. Default transaction relay fee was dropped to 0.0001 DCR given sufficient network upgrades. More changes in the release notes.Decrediton: v1.4.0 RC2 release features initial Trezor support, design improvements and many bug fixes. Initial Trezor support allows users to use Decrediton as a “watch-only” wallet that signs transactions with Trezor. The feature will be hidden behind a config option until it gets enough testing. Staking is not supported yet but is planned in the near future. More generally, watch-only wallets are now able to create unsigned transactions that can be transferred to another device for signing and broadcasting. Governance page received a large overhaul and an important feature to notify users about new proposals and votes. New page to choose between SPV and fully validating mode is now shown on first load. Initial dark theme can be enabled in Settings (the colors are being finalized). More details for these and other changes are in release notes.On the master branch (i.e. not included in the 1.4 release), Decrediton can now be built for Raspberry Pi.A lot of design work is completed and ready for implementation.Politeia: latest security tightening earned Politeia an A+ rating from securityheaders.com, which placed it in the site’s top 3% and (briefly) in the Hall of Fame. A feature to view old proposal versions is added as part of a larger version diff viewer that needs more work. politeiavoter now retries failed requests which fixes Tor usage. Comment vote score calculation was fixed by moving it from politeiad to politeiawww. Proposals now cannot be abandoned after voting was authorized. These and smaller fixes will be available on the proposals site after the next deployment.In progress are admin data backups and two big changes to scale the server: cache layer and websockets support.dcrandroid: v1.0.0 release candidate 2 is available on Google Play for mainnet and testnet. Seed verification and seed restore interfaces were completely redone, several bugs fixed. The list of improvements can be found on GitHub. Discussion and feedback here.Next RC to be released shortly will include several minor bug fixes as well as a better display of the status during initial sync which was requested by a handful of people.Focus has been on streamlining the setup experience for new users since that’s the first thing they will see and can sometimes be tedious.Limitations of wallet encryption and risks of staking on insecure Android smartphones were discussed in this chat.dcrios: has mostly just been syncing up with the changes from Android. iOS testing releases will be made available as soon as Android 1.0 is done.dcrdata: v3.1.1 is released on the main site. Highlights include new pages for sidechains and disapproved blocks, major performance improvements, Go modules support, non-javascript mode improvements (thanks from an anti-js dinosaur!). See full release notes here. The release includes 129 commits from 4 months of work made by 16 code contributors. Congrats to dcrdata team!On master, a feature to download transactions for a single address as a CSV is finished. Several large refactors are merged to employ modern frontend best practices.Public dcrdata Tor service was temporarily shut down after a DDoS attack. After some discussion it was brought back at dcrdata2opeenddl.onion.Developers can check the new Docker image to build and test dcrdata and a new FAQ page on the wiki.Ticket splitting: v0.7.0 and v0.7.2 released. Highlights: SPV client support (read on the privacy caveats), better security with session token, OpenBSD support and better reporting. Find the downloads on GitHub. Verify the signatures to make sure the binaries really come from @matheusd.docs: building on redirection infrastructure laid out earlier, work began to tidy up URLs and directory structure. Agenda Voting was changed to Consensus Rules Voting. Translation framework was removed. Glossary was extended with new terms. Added new guide for SPV. Updated Politeia docs by grouping Politeia pages together, adding pages for Proposal Guidelines page and Example Proposal.decred.org: page headers were changed from javascript to videos, Rocket.Chat removed from the Community page, Decred Business Brief is now available as a web page in addition to the PDF download.Other:@matheusd proposed a proof of concept offline tx signer that allows one to sign transactions on a different machine (Raspberry Pi). Let him know if you would like to see this developed further.authit is a proof of concept UI for timestamping files via dcrtime. Source code is now under decred organization, discussion is here. Credits to @fernandoabolafio, @tiagoalvesdulce and @vctt.@devwarrior is working on a proof of concept UI for atomic swaps. Contact him in chat to collaborate and bring it to Decred.Pull request adding QTUM support to atomicswap was submitted, feel free to join review and testing. An earlier Ethereum support pull request can also benefit from more eyeballs.Decred command line tools can be built to run on Alpine Linux that uses musl (cleaner implementation of libc), read this chat for details.Efforts to coordinate vital Decred article translations are being undertaken to introduce a greater, non-English speaking user base to core Decred concepts.Dev activity stats for December: 230 active PRs, 196 master commits, 33K added and 106K deleted lines spread across 8 repositories. Contributions came from 3–9 developers per repository. (chart)PeopleWelcome to new first time contributors: aerth (dcrwallet), @guang (decrediton) and tpkeeper (politeia).30000fps has been a Decred design contributor since summer of 2018. One goal of his work has been about bringing illuminating development by finding meaningful ways to visualize and illustrate the processes and features otherwise unseen. Examples can be seen from the recent development visuals (upcoming v1.4.0 release (4 MB), Politeia release, v1.3.0 release), as well as the overhaul of decred.org animated subpage headers.3 contributors were removed from the decred.org website.Several contractors shared their onboarding experiences in this chat, which is a good, first-hand account to read in order to understand what the onboarding process might look like, particularly of note to those potentially interested in becoming Decred contractors. @richardred published an excellent Working for the Decred DAE post that describes his Decred journey in some detail.Several independent contractors are preparing a community roadmap document where they outline their plans for 2019.GovernanceIn December the Treasury received 17,016 DCR and spent 12,570 DCR. Using December’s daily average DCR/USD rate of $17.5, this is $298K received and $220K spent. As these payments were for work completed in November, it is also informative to consider them in the context of the November average daily rate of $32.5 — in which case the USD received/spent figures are $553K/$409K.Here are short proposal updates as of Jan 10. Please do not rely on them to form your opinion about the proposals and read the original texts and discussions on Politeia.Open Source Research 2: Politeia data research and Git contributor analysis are progressing, 4 new research ideas were posted in the proposal. Please comment and cast your comment votes to give research contributors a better feel for what is most useful.Stablecoin proposal was mostly criticized, author cancelled the proposal.Coffee Wallet integration: the owner offered to reduce the requested amount but the community was generally not too excited about paying for integrations. Proposal was inactive for some time and marked as abandoned, the proposal owner later returned to say that they did not mean to abandon it.Rejected proposals: Radio ads (69% No), Decredex (96% No), Bcash’s ATM integration (89% No); participation varied between 24–31% of tickets.Baeond futurepunk autonomous card game: discussions ongoing, author engaged in comments and chat and updated the proposal in response to feedback, many people are confused about how it will benefit Decred.Smart Reach partnership: discussions ongoing.Bug bounty proposal was approved with 90% Yes and 30% participation. @degeri showed a great example of going through all the stages: join the community and demonstrate the ability to do useful work, identify something missing, draft an idea and put it through several rounds of feedback, submit a proposal, engage with commenters and adjust it further, and finally gain approval. A notable fact here is that Decred is one of the few projects where a pseudonymous contributor can build up trust and become successful by establishing a track record of delivering high quality work.To avoid common mistakes and build a successful proposal, make sure to read the new Proposal Guidelines by @s_ben (inspired by an excellent comment by @nnnko56).Company 0 is not charging the Treasury for its privacy work, as clarified in this thread.Discussions: this chat discusses staying frugal with the Treasury spending, especially during bad market conditions. This thread dismantled common arguments against Decred’s governance system: “we don’t know if the governance system works because it hasn’t failed yet” and “there hasn’t been anything controversial yet”. Turns out it’s hard for controversy to build up in a system explicitly design to avoid it.A much more nuanced coverage of Politeia activity is provided by @richardred in Politeia Digest issue 8 and issue 9. The digest captures a lot of interesting details for every proposal. Issue 9 contains a review of 2018 Politeia data since its launch. You can find all past issues and leave feedback here.NetworkHashrate: December’s hashrate opened at around 167 Ph/s and closed around 183 Ph/s, peaking at 207 Ph/s and bottoming at 110 Ph/s throughout the course of the month. For the most part, the average was 150 Ph/s. As of Jan 10, pool hashrate distribution: poolin 34%, F2pool 27%, UUPool 7.4%, btc.com 7%, Luxor 3.8%, BeePool 2.6%, coinmine 1.1%, others are 17% per dcrstats.com. Pool distribution numbers are approximate and cannot be accurately determined.Staking: 30-day average ticket price was 103 DCR (+0) per dcrstats.com. The price varied between 101 DCR and 107 DCR. Locked amount was 4.14–4.23 million DCR, which corresponded to 46.3–47.1% of the available supply.Nodes: As of Jan 1 there were 192 public listening nodes and 253 normal ones per dcred.eu. Version distribution: 1.5% are v1.5.0(pre) dev builds, 1.8% on v1.4.0(rc1), 5.3% on v1.4.0(pre) (-1.2%), 55% on v1.3.0 (+5%), 20% on v1.2.0 (-5%), 10% on v1.1.2 (-1%), 4% on v1.1.0 (-1%).There are many more interesting stats we’d like to present in this section, let us know if you can help.Block 300,000 was mined in December and the mined DCR is now over 9,000,000. Congratulations to all!MiningWhatsminer D1:review was posted in Chinese (Google translation)Luxor posted a setup guideWhatsminer.net reported to have shipped all batch 1 ordersBitmain’s Antminer DR5 miner was introduced on Twitter and met with some criticism. Specs: 34 Th/s at 1,800 W, prices start from $1,400. This thread discussed the unit along with challenges for small or hobbyist miners.Be careful when ordering miners from eBay, you may get just the weight.IntegrationsThe hardware wallet company Ledger announced that the long-awaited DCR integration is complete:We are excited to announce that the Ledger Nano S and Ledger Blue are now compatible with Decred. Decred is now available on Ledger Live and marks the first native Ledger Live integration since its launch. Read more here (@LedgerHQ)DCR storage is possible through Ledger Live, an application that now acts as a one-stop-shop for accessing and interacting with your crypto assets since Ledger discontinued the use of their respective apps earlier this year.Cobo Wallet announced a custodial staking service. Discussed here.For any wallet software and hardware, always do your own research and ask how it works. Do you control the keys? Do you lose consensus and Politeia voting rights? Does it talk to Decred full nodes directly or through intermediaries? Does the service share your data with 3rd parties? Is the source code open and auditable?OutreachDecember marked an exciting month for Decred, as Ditto began work. The first initiative was to make introductions and determine workflow. You’ll now see our good friends, Liz Bagot (@liz_bagot), Trey Ditto (@treydpr), Margaret Mei (@margaret_mei), Blain Rethmeier (@blainr), and Milvian Preito (@milvian) in various Matrix rooms, including #marketing, #ditto_pr, and #writers_room.Work began in earnest on messaging, which can be viewed here. Continued input is always valued. Concurrently, we’re working with the design team to integrate new messaging into the site and to expand the content with new pages further explaining important aspects of Decred.Messaging should be agreed upon in January, and a work will begin on the website. A plan including events and other tactics will also be published in January. (@Dustorf)Ditto people joined #marketing and the room was very hot throughout the month with lots of brainstorming and discussions about messaging.@Dustorf, @jy-p and Ditto met in New York and posted a report in chat. Among other things, they discussed challenges related to attracting new developers and contributors, spreading the word about Decred to knowledgeable investors, institutions, and governments, as well as going over the long term vision for the project.Trey published Ditto’s big picture look at 2019 and the strategy for Decred. Following that a survey was held on Reddit asking the community how would they describe Decred, what media do they read and how they think Decred should target developers.Mid-December @liz_bagot gave the inaugural Ditto Bi-Weekly Update, and later summarized the work for December:Had a 2.5-hour onboarding session with Dustin and Jake in our Brooklyn office in early December.Created a foundational messaging platform containing a breakdown of Decred’s audiences, an about section, a mission statement, a vision statement, and positioning statements for each unique audience. We submitted the messaging platform to the Decred community for feedback and intend to do another iteration of the document that incorporates the feedback in January.Attended and sent reporters from Breaker Mag, Forbes, and Fortune to Decred’s meet up in NYC.Arranged and staffed interviews between couple big outlets and Decred community members. No set publication dates yet.We pitched Jake’s commentary on 2019 crypto predictions with crypto reporters and secured coverage in NullTX, Crypto Briefing, The Daily Hodl and CCN.Now a total of 5 well-known community members have the rights to tweet via @decredproject Twitter account. You can read about how it works here.EventsDecred held it’s first meetup in New York City on Dec 5 at Distributed Global in the flatiron district in NYC. The audience of about 80 people included VC’s, developers from other projects, media, and members of the Decred community. @jy-p gave a Decred overview presentation (photo), then delved into the technical details of the Politeia Proposal System including how it works and the potential breadth of its applications.Next, Chris Dannen, Founder of Iterative Capital, discussed the way work has evolved, particularly in the era of free open-source software. Iterative Capital’s Thesis explains this thinking in much greater detail. He explained how Decred’s treasury brilliantly dovetails into a massive work trend that gives workers desired autonomy and enables them to do their best work.Finally, Chris Burniske and Joel Monegro of Placeholder VC held a fireside chat explaining Decred’s value from the perspective of an institutional investor. Chris revealed the financial reasoning, including:Team — btcsuite when released was as good as anything put out by Bitcoin CoreHybrid PoW/PoS system is more secure than any other networkTreasury funding allows development to be funded long termFork resistance — Decred is designed to keep the community together through consensusJoel shared his appreciation for Decred’s governance system, and its ability to make Decred polymorphic, adding features and functionality as the community decides. They concluded that Decred is built/designed for a multi-decade horizon. They shared some of the good work they’re doing to on behalf of Decred with respect to custodianship, exchanges, and institutional staking, and concluded that the biggest issue Decred currently faces is liquidity.Founders Night took place next day on Dec 6, and was Distributed Global’s holiday party. They brought in all their fund managers from various offices, and invited their investors, partners, and members of various projects within their portfolio. It was a great opportunity to meet those various constituencies and build relationships for future events in NYC. Spring is being targeted for the next Decred event in NYC.Other attended events:Presentation in Technology University in Amozoc, Mexico. @elian talked to students about skills for the future and noted: “As part of my experience, I briefly talk about Decred as an innovative project in which digital skills become essential tools for collaboration. This was not a crypto meetup but rather a motivational talk for BA students to push them to acquire digital skills, this is a small university far outside big cities so this kind of content is very appreciated. As part of my experience in technology and digital industries, I share with them my experience working in an open source project like Decred as an example of the opportunities that arise from the internet industries. I think it was very interesting for them to realize that there is a massive economy flowing through the Internet with endless possibilities.”. (photo)Introduction to Decred in Toronto, Canada. @michae2xl and @zubairzia0 hosted the event and noted that despite small attendance the people were looking to connect with a local Decred community and were excited to help to organize next event. (photo)Upcoming:OKEx Taiwan MeetUp in Taipei, Taiwan on Jan 17. The first half of the event will be intros by the 3 projects (Decred, EOS and NEM, 20 min each), and the other half will be a panel discussing around on-chain voting (30 min). @morphymore will be speaking.Binance Blockchain Week in Singapore on Jan 21–22. @guang will attend and represent Decred.10 lat Bitcoina in Warsaw, Poland on Jan 26. @karamble will deliver a presentation at the conference celebrating the 10th anniversary of the Bitcoin whitepaper and Bitcoin itself. Decred specifics are to be announced.TabConf in Atlanta, USA on Feb 8–10. @moo31337 will present “Decred 101: An introduction to Decred” on Feb 9.The North American Bitcoin Conference in Miami, USA on Jan 16–18. @jy-p will present Politeia and explore a wide variety of applications that could utilize it. Please message @Dustorf if you’re interested to help out at the show.Campus Party in Sao Paulo, Brazil on Feb 12–17. Decred will have speakers and a dedicated area for hackathons.Jalisco Talent Land in Guadalajara, Mexico on Apr 22–26. Decred will have a booth. @elian will present an overview of Decred with Q&A, plus there will be walkthroughs how to use software and vote. Contact @elian if you’re interested in helping/attending.Ask in #event_planning room for any questions.MediaSelected articles:Bitcoin Miners Go Silent As Price Falls (cryptobriefing.com, also in Chinese)Detailed analysis of Decred fork resistance by @Haon (medium)Decred and Ditto in 2019 by Trey Ditto (medium, community survey and discussion here)Fundamental Pick: Decred by BBOD Research (blog.bbod.io, also in Chinese and Japanese)Decred Co-founder Pronounces 2018 as the “Death of the ICO Model” (nulltx.com)2018 in 4 Words — ICOs and Ethereum Died (ccn.com)The practical cypherpunk: Marco Peereboom of Decred (coinrivet.com)Decred: Governance and Funding Reimagined (51pct.io)Working for the Decred DAE by @richardred (medium)Translations:Decred Journal — November 2018 in Spanish by @elian, in Polish by @kozel and in Russian by @DZ, in Chinese by @guang. November issue was the biggest so far (59 KiB), thank you all for the epic translation effort!All translations of Decred Journal are linked on the home pageDetailed analysis of Decred fork resistance by @Haon — in Polish by @kozelHow to Get Hired as a Decred Contractor by @Haon — in Chinese by @guangVideos:On The Record w/ Murad Mahmudov — Bitcoin for 2019 on Tone Vays show (youtube, Decred explanation around 1h mark)Audio:Free Talk Live 2018–10–27 Interview with Marco Peereboom of Decred at the Texas Bitcoin Conference (soundcloud, missed in Oct issue)Unchained episode 100, Past Guests and Listeners Take Over the Show (unchainedpodcast.co, @joshuam at 55:12)Episode 18: Murad Mahmudov on Bitcoin (didyouknowcrypto.com). Topics covered are utopianism, Austrian economics, the coming recession, the future of Bitcoin, and that Decred should be in top 3.Community DiscussionsCommunity stats as of Jan 1:Twitter followers: 39,884 (-120)Reddit subscribers: 9,241 (+110)Matrix users: 221 (+18)Slack users: 6419 (+66)Telegram users: 4734 (+92)YouTube subscribers: 3738 (+2)Facebook followers: 3121 (+16), likes: 2880 (+13)LinkedIn followers: Decred page 450 (+17), Politeia page 24 (+4)GitHub dcrd stars: 458 (+11), forks: 1192 (+33)On top of that there are Telegram communities in Chinese (661, +119), Portuguese (435, +99) and Italian (120) languages. Also, @michae2xl is running @decredproject on Instagram with 396 followers as of Jan 6.Comm systems news:@dhill shot down a bug in matterbridge that blocked the relay of messages from Slack to other platforms. Please report any bridge issues you notice.#smart_contracts channel was archived due to inactivity.Rocket.Chat is being retired.Prototype community issue tracker was started to discuss actionable ideas in a more structured format. Any idea that benefits the project can be discussed. As of Jan 10 there are 73 issues like article ideas, PR, archiving and data preservation, or discussion of communication platforms. For example, this issue captures a challenging task to find a good name for Decred’s hybrid PoW/PoS consensus algorithm and lists all options suggested so far. You can subscribe to everything with the Watch button on top, or to individual issues with Subscribe button on the right panel. There is a popular belief that “GitHub is for developers” — this is not the case. Posting issues and comments and ‘+1’ is no harder than using Reddit or chat and in fact multiple non-developers already contribute doing just that.Reddit incident showed us another weakness in the platform. Multiple threads were started and spurred useful discussion, but were later removed by the author. This wasted the effort of all people who bothered to reply. The deleted threads were somewhat resurrected, but generally this incident shows an attack/sabotage vector: trigger the discussion and then delete the thread, wasting community’s energy. Reddit has no defense from this as moderators cannot disallow users to delete their content. The event has led to a discussion of a Reddit replacement that could probably derive from Politeia.For yet another time, a lot of strange Reddit activity was timed close to our major release. It is either an unusual amount of questions about less relevant issues, or “innocent” questions about trivial things, or something similar. All coming from accounts never seen before and that stay after the short interaction. This notice is to inform people who care about the project to watch out for weird activity that can sap project’s, as well as your individual energy. Read this chat for more details.MarketsIn December DCR was trading between USD 14.2–21.4 / BTC 0.0042–0.0058. The average daily rate was $17.5. A short price rise to USD 20.9 / BTC 0.0058 happened on volume increased to USD 5–6 million compared to USD 0.8–1.2 million on other days. Note that the trading volume data is not reliable, as noted below.Relevant ExternalVertcoin (VTC) was the subject of a majority (51%) attack (4 incidents) in which 22 reorgs and 15 double spends occurred, costing the victims around $100,000. This reaffirms the vulnerability of coins that are not the dominant use for their miners (GPU-mineable or ASIC-resistant, but also Bitcoin forks) to be attacked by miners who have appropriate hardware and no interest in the health of the blockchain. One of the impacts of these attacks is that the coin comes to be regarded as insecure, because it has failed in its purpose before. Anyone who is still willing to accept it may require a very high number of confirmations before confirming a transfer, making the coin slow to move.The Horizen (previously ZenCash) team lead recently announced a strategic action to increase the Treasury block rewards from 10% to 20%, reducing the share of rewards for miners. After a 90% reduction in price, and significant reductions to staffing and other costs, it was felt that to cut costs any further would mean jeopardizing the project. As the Treasury system being developed by IOHK is still a prototype not yet ready for use, the Horizen team felt the need to make a unilateral decision to change the block reward.EOS block producer began paying holders that voted for it.The first round of voting on Aragon Governance Proposals (AGPs) has been delayed due to potential network instability around the Ethereum Constantinople hard fork — hopefully “blockchain down for maintenance” is not a problem Decred will encounter with Politeia. The CEO of Aragon Association published a blacklist and wishlist for proposals before proposal submissions opened. In the first proposal the AGP process itself was approved by 99.97% of the ANT that voted. In total 2.6% of all ANT tokens voted on the first proposal, from 45 unique addresses, with ~60% of ANT votes coming from one address. AGPs go through a review by the board of the Aragon Association, then a community review, before a 48 hour voting period opens.2 million BTCP were mined via an exploit and went unnoticed for months until CoinMetrics noticed that something is wrong with the supply. Developer team posted an official statement confirming the inflation exploit. The bug was merged on Jan 5 2018 together with a patch from a bounty hunter that disengaged after receiving the reward for his work. Just one missing line of code caused huge damage to the network’s value proposition. We can learn a lot from this unfortunate experience: extensive test coverage, super critical review of consensus code, established reputation of developers working on mission critical parts, and having multiple implementations of the protocol are all very important to build a system we can trust money to.There was an attack on Bitcoin’s Electrum infrastructure. Someone started a lot of malicious Electrum servers that prompted the user to “upgrade” to a malware version and stole 200+ BTC. The Electrum model involves a network of servers that sit between clients and full nodes. Each client depends on the server they connect to, this compromises user privacy as the owners of those servers can infer which wallets the users own. If Electrum servers were compromised this would open up some additional attacks. Decred chose not to develop Electrum infrastructure but instead go straight for SPV based on client-side filters. This delayed the development of light clients, but the SPV mode now working in dcrwallet, Decrediton and drcandroid connects to full nodes directly and functions independently of any service provider, which enhances users’ privacy as a result.Security researchers demonstrated multiple ways to hack most popular hardware wallets, if in physical possession of the device.Latest exchanges trading volume report by blockchaintransparency.org concluded that of the coinmarketcap.com top 25 BTC pairs over 80% of volume is wash traded. Another unhappy finding is that the average project spent over $50,000 on listing fees. The report has spurred the idea to analyze the trading volume for DCR.Coinbase seeks to own the term “BUIDL”.Many cryptocurrency services and projects seem to be owned or co-owned by just a handful of entities with banks at the top.Several centralized exchanges failed to serve withdrawals during the annual Proof-of-Keys event.Slack accidently blocked people who visited Iran before. Later Slack apologized for the incident and clarified the situation. But the signal is clear and not surprising: Slack Technologies is a (venture funded) U.S. corporation that complies with U.S. laws. In contrast, Matrix rooms can be federated over multiple servers, so even if some participating servers are shut down, servers in other jurisdictions can keep serving the chat and history.There have been a number of articles in December about layoffs in the cryptocurrency space (and some saying it’s not so bad relative to other sectors). For other projects with Treasuries, these are also hard times, as noted for Horizen above and can be seen in some Dash community discussions. We can thank the people who managed the Treasury in the pre-Politeia era for its healthy balance, this is the reason that Decred is still looking to expand its workforce while other projects contract. With DCR at $17.5 for December, that will likely be the first month where Treasury outgoings are greater than the incoming block rewards. Even if DCR/USD stays low for some time, the Treasury could maintain its current USD-equivalent spending for several years (rough estimate is 8) at this rate before cut-backs became necessary.Amid the larger wave of layoffs in the crypto sphere, Bitmain allegedly fired its entire staff of Bitcoin Cash developers, which included the Copernicus team.Copernicus is an implementation of the Bitcoin Cash protocol written in Go that utilizes btcsuite. The pre-release version of software was announced and mined its first block in December. On their website the authors thank btcsuite developers for their work and acknowledge their contribution to the Bitcoin ecosystem. On the blog Copernicus team noted that the software “reorganizes and redesigns the software structure for the original client in order to make the structure more concise, reduce the learning difficulty for developers and increase diversity of clients to ensure safety of the entire BCH network”.Copernicus is not the first effort to diversify Bitcoin Cash’s network that already had several C++, Rust and JavaScript implementations in development. In September, two other implementations of Bitcoin Cash written in Go were unveiled. Gocoin-cash comes from the creators of counterparty.cash and is based on gocoin (another full Bitcoin node implementation in Go). bchd in turn comes from OpenBazaar developer Chris Pacia. In the initial announcement of bchd Chris noted that btcsuite is “one of the best designed and well-written Bitcoin codebases” and explained that it allows to engage more developers and build new features faster, compared to C++ implementations. It also gave them the private client-side SPV “for free”. The beta was announced in November — two months since forking from btcd the team grew to 9 contributors and implemented several improvements over btcd.The relevance and good news for Decred here is that a lot more developers are looking at btcsuite codebase now, on which Decred is based and can benefit from.About This IssueChinese translation by @guang is available on Medium, Weibo and GitHub.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 and contributions are welcome on Reddit, GitHub and Matrix.Credits (alphabetical order): bee, Dustorf, guang, Haon, kozel, liz_bagot, oregonisaac, raedah, richardred, saender, zubairzia0.Decred Journal - December 2018 was originally published in Decred on Medium, where people are continuing the conversation by highlighting and responding to this story.

Decred

19. 01. 22

Decred Independent Contract...

Decred Independent Contractor Roadmap for 2019It is difficult for a decentralized project to answer the same-old question “When roadmap?” since writing a roadmap is a task for a central coordinator or authority that decides what the plan is.Previous editions of the Decred roadmap were really the Company0 roadmap for Decred, but we have reached a degree of decentralization where this no longer makes sense. Company0 no longer accounts for the majority of development work, and is barely represented in some domains.Politeia and the roadmap page are now the platforms where Decred’s global roadmap is iterated, but it doesn’t provide an accessible summary of what the plan for Decred in the near future is.The concept of a roadmap still makes sense for individual contractors, both corporate and independent. Individuals have the autonomy to plan for the year and make those plans known, should they choose to.A number of independent contractors thought it would be useful to produce a shared roadmap document where we each have a space to talk about our plans. This should be considered a non-binding document. People change their minds sometimes and circumstances change.The following is an alphabetical list of Decred contractors and their plans for the year 2019. Participation was voluntary, so this is not an exhaustive list of contractors, just the people who felt like writing something:bee:Continue producing Decred Journal. I hope to delegate more work to free up time for other ideas.degeri:I started contributing to Decred 2018 and the response from the community has been very positive. My primary goal is strengthening Decred’s security. I do this by selecting 2–3 active projects per month and working on them, I will continue this cycle in 2019.There is joint research and development Decred git/contributor analysis work that is being done by both me and @s_ben.The Bug bounty proposal that I put up has passed, I expect this will take up the bulk of my time Q1 of 2019 as we work out any hitches in the rules, scope, methodology etc.After that I will use the knowledge gained from running the program to start working on a bug bounty website (for submission, triage, work allocation etc) based on Politeia. I will NOT be billing the project for this work. The plan to get it built up to a POC stage first before I ask the community for funding and extra hands via a Proposal.I will also continue helping out the community wherever possible both offline and online.dezryth:As an Event Support and Social Media Marketing contractor, my job is to make sure to stay on message with Decred’s team of independent contractors and the community at large. I’ve been with the team since October of 2017, helping shape the Facebook page and develop verbiage for our social media posts on various platforms. Beyond the digital front, I have contributed at many events, including Consensus and Texas Bitcoin Conference. Bringing new users to the fold by having the ability to speak passionately and knowledgeably on a subject is essential to our marketing efforts.In 2019, I intend to increase public appearances at local cryptocurrency meetups to spread awareness and tighten my public speaking abilities. I aim to ramp up assistance with social media marketing efforts to get in front of more eyes more often, and more effectively.As an entry-level software developer outside of the project, I also intend to focus much more attention to the technical details of our developers discussions and implementations within our code base. This will allow me to better communicate with engineer-minded individuals on the technical details of our project and our team’s accomplishments.In 2019, I hope to strengthen relationships with the team/community and offer support to the best of my ability. Anyone may feel free to contact me for questions on any of our platforms.dnldd:My focus is currently on putting out a v1 of the decred mining pool implementation I have been working on as well as improving work delivery options for dcrd. With regards to the mining pool, quite a bit has already been done, the outstanding tasks are implementing stratum protocol, full cycle tests on simnet with chain reorgs, and support for all dcrd ASICS released so far.Currently dcrd requires polling for available work. Knowing the mining pool will need more efficient ways of getting available work I have been working with davecgh on allowing clients to subscribe for work notifications via a new rpc (notifywork). This is close to completion as well but requires a lot of testing due to modifications it makes. We also plan to fix issues with the current getblocktemplate implementation and reenable it.I also have a couple outstanding dcrwallet tasks that should update and reenable tests.Dustorf:As Marketing Lead, my goal for 2019 at Decred is to generate a consensus on the positioning and messaging, then implement tactics that cultivate the community and project its message. I recently released a blog detailing the hiring of Ditto, a public relations firm, and we’ve begun work on messaging. Once this is set, we’ll build out the website to reflect the new messaging and add content that offers a deeper dive into Decred without the need to review the docs. I’ll present a proposal in the near future that details my plan including budget for the ongoing communications that will include video production and event presence/participation that will build upon Decred’s strengths and extend it to new geographies. First the building blocks, then the funnel, then the message projection to drive new users into the funnel.elian:My main contribution to Decred in the past 6 months has been organizing meetups for the crypto community in Mexico, connecting with exchanges in Latin America (Latam) and translating basic content for the Spanish speaking audience.2019 will be a great year to continue expanding Decred outreach in Mexico and Latam. There are already plans for the next 3 meetups in Mexico City for January, February, and March. In April we will have an expo booth in Talent Land 2019, the biggest tech expo in Mexico and Latam where we are expecting to show the project to more than 33k attendees. I have started conversations with 5 exchanges in Latam in order to have DCR listed this year against MXN, ARS, CLP, and COP. I will continue managing the twitter account @Decred_MX and the Medium Decred en Español for fundamental readings and information of Decred in Spanish. Following the steps of Decred BR, I am looking forward to expanding DCR presence in all the Spanish speaking countries and grow our community base in Latam.Guang:I look forward to contribute to expanding DCR presence in Asia with focus around Southeast Asia and China. I see my role in 2019 be mainly around belowContents : Making Decred related contents more accessible to the community, include but not limiting to translating, writing, collaborating with Decred supporters, manage social media.Events : Meetups/events in the region, attending events/meetups, identifying (potential) Decred supporters, collaboration on events / meetupsHaon:The past year I’ve been busy with many different things. Most notably:I have expanded and consolidated Decred’s social media presence.I have written, reviewed and published multiple articles via the Decred Medium Publication.I have recruited developers and on-boarded contractors in the marketing, community and strategy fields.I have negotiated DCR listings with major exchanges worldwide.I have represented Decred at conferences throughout Europe.In 2019 my focus will be on the long term vision and strategy. I will work with new and existing contractors to make Decred one of the 5 biggest digital store of value projects in the world. I will keep writing articles and remain available for daily operations.Insaf:In the order to make the Decred project more known in the Arabic world and grow the community my plans are:To contribute more in the social media by writing and translating the main articles about Decred so it can reach a large number of the Arabic crypto members.To contact more startups interested in crypto and BlockchainContinue supporting newcomers so they can understand well DecredCreate a website that contains all the information about Decred in ArabicTo do and participate in more meetups/events locally and in other Arabic countries to expand the Decred project in the North Africa and the Middle East.To continue managing the twitter account (https://twitter.com/DecredArabia) and the facebook account (https://www.facebook.com/Decred-Arabia-1836611206375151/)kozel:2019 is a period of time where I intend to step my game up and keep contributing in areas I’ve been involved in up to this point, namely meetups, writing, translation and outreach, and education, but ideally also branch out to something like video production.Meetups: My intention is to raise awareness of the project in my region, which is quite crypto-aware, and bring more talented, like-minded people like users, investors, and developers into the fold. The goal is to develop working relationships with people and institutions willing to give us a speaking platform and educate those interested through meetups, conferences, and more technically-oriented Decred presentations. The ideal outcome of activity in this field would be a sustained meetup presence at various local meetups and get-togethers throughout the country.Writing and Education: Decred never ceases to amaze me and it is this wonder and fascination with its fundamentals and propositions that I wish to communicate, to the best of my ability, through writing, hoping that in so doing some of it will rub off on people who will likewise become enchanted by its elegant complexity. I will try to develop original and interesting angles through which the Decred proposition can be communicated, and continue existing ones, like the Decred Infrastructure Interviews once interesting partners reveal themselves. Needless to say, this goes together with reaching out to potential new partners such as crypto news outlets and crypto websites and magazines to increase exposure and provide constant and reliable presence in the local crypto media space.Outreach: The ambitious though nebulous plan is to try and attract local players, like institutions, exchanges, businesses, etc., to Decred, partly through, possibly, striking up relationships by maintaining meetup and conference presence but also through pro-active outreach. This will also be attempted through the use and maintenance of local social media platforms and account such as the Decred_PL twitter account and Decred Polska Facebook page, now still in its infancy. Depending on time limitations this may be expanded to more participation in local crypto forums and message boards.I also intend to keep making Stakey plushies like these for the community to enjoy.It goes without saying that this is not an exhaustive list; it is subject to change and expand as new opportunities to benefit Decred emerge.Michae2xl:Continue producing Weekly Video for Brazilian Community (Youtube Channel) and continue to help Emilio in Brazilian channels. Continue supporting newcomers. More Meetups in 2019 in Canada-Toronto and if as possible support in Brazil as well. Building an organic community in Canada, partners, markets and continue helping out the every Decred community (offline, online and in person as well). I’m thinking in separate features as media’s (e.g twitter/decredexplorer) or something like that to find different ways for people learn about Decred, like a thought structure, so everyone can choose each feature to see first (study the feature like a project and unified later (e.g atomic swap, politeia, spv, dcrdata, decrediton, etc), for the first impact using the docs.decred.org. Continue manage all media’s below and other channels as possible to help, improves contents, to use key words (suggestions that I saw in channels), bring more connections like volunteers, devs, holders, so they can help us to growth our community and network (natural process).Brazil: instagram, twitter, meetup, youtube, telegramCanada: twitter, meetup, facebook, blog (I have the permission to publish articles about Decred in crypto portal)Global (test): decredexplorer twitterWas really good in 2018, in 2019 I hope to help more.oregonisaac:In 2019 I plan to continue my contribution as moderator in the Telegram communities for Decred. Par for the course in the Decred community, our Telegram group largely breaks the mold for cryptocurrency Telegram communities in a few ways:We have little to no price, moon, lambo discussion.Our group is new user friendly.We have NEVER added a member to our group.Our moderation system is decentralized with 12 members who can review the actions of other moderators to ensure integrity.We kick bots and bad actors to support a safer environment (most groups keep them to inflate numbers).Starting late 2018 I began a research project into the cryptocurrency ATMs on the market today to determine the best fit for Decred. I hope to complete the project in 2019. The remain steps are:Publish the results of the effort for the community.Determine the best resources to support an integration effort.Discuss the project in the Proposals group in Matrix to confirm at least some community support.Launch a proposal on Politeia for community support/funding of the project.Manage the relationship with the selected ATM provider and publish updates on the work while in progress.Assist in coordination of a jointly marketed ATM launch.I was invited to give my first Decred talk at a Seattle conference last fall and I am available for additional talks/invites in 2019 and will be seeking out those opportunities. I enjoyed meeting team members of other projects, investors, and enthusiastic community. Decred is also a very easy project to talk about because of the very high level of integrity. There are no subjects to avoid or areas to gloss over.Finally I am looking forward to contributing to the expansion of the DCC (Decred Contractor Clearance) project which is currently in development. As a moderator I’m excited to do what I can to support a structured and scalable environment that supports existing and new moderators and contributors in this novel decentralized space.richardred:More of the same, and maybe some new things.Politeia Digest: No longer on a weekly schedule, but regular updates in the same kind of format. It would be nice to automate some of the more mundane aspects.Research program: I’m looking forward to spending more time on this in 2019. There are some interesting projects being discussed — you can comment and use your Pi up/down comment votes to indicate which projects/ideas you would like to see progressing.Writing projects: My New Year’s resolution is to try and make these shorter and more focused.Helping out with whatever seems useful.I described my experience of working on Decred and plans for 2019 in more detail in this blog post. I think 2019 is going to be an exciting year for Decred, feels like the project is really starting to gain momentum in a number of areas now.s_benMy general plan is to continue focusing on technical documentation, while exploring opportunities to contribute code and analysis.On the docs front, I plan to continue interfacing with developers and porting relevant technical knowledge to dcrdocs. At some point, if there’s enough demand (and content), I plan to finish work begun by other contributors on a separate Decred Developer Documentation site.On the coding front, I’m currently collaborating with @degeri on the Decred git/contributor analysis project, a Decred Open Source Research initiative. I’m finding all the research ideas pitched so far generally fascinating, and will be looking for further opportunities to collaborate there. I’m also learning golang. My plan is to start with small tasks on Politeia and other go repos, learning by doing. If that goes well, will explore the possibility of contributing more substantially and billing for it.As I’m relatively new, I also expect to find other opportunities as the year progresses. I’m particularly interested in how the DAE evolves, Politeia, internal systems for processing information, recruiting, and DCR markets.Zubairzia0:My plans for 2019 are:Outreach — Help to increase presence on Linkedin (and possibly delegate) and grow the Decred community in the Greater Toronto Area (GTA) with Michae2xl.Research — More research articles. Develop a website that displays Security spend alongside other analytics Development.Repos — I have been helping make the user facing Docs more accurate and visual. Will continue to do more of this in 2019. I also plan to help out in other repos in 2019.Organization — I want to put together my own team of contractors to help on the above.Thank you noteAll text was delivered by individual Decred contractors. Minimal editing was done, hence there is a difference in writing styles. Shout-out to Richard Red for writing the introduction.Send me a message via Matrix or submit a pull request if you would still like to be added to this year’s contractor roadmap.Updates:Added dezryth (13/01/2019)Added oregonisaac (15/01/2019)Decred Independent Contractor Roadmap was originally published in Decred on Medium, where people are continuing the conversation by highlighting and responding to this story.

Decred

19. 01. 12

Decred Independent Contract...

Decred Independent Contractor Roadmap for 2019It is difficult for a decentralized project to answer the same-old question “When roadmap?” since writing a roadmap is a task for a central coordinator or authority that decides what the plan is.Previous editions of the Decred roadmap were really the Company0 roadmap for Decred, but we have reached a degree of decentralization where this no longer makes sense. Company0 no longer accounts for the majority of development work, and is barely represented in some domains.Politeia and the roadmap page are now the platforms where Decred’s global roadmap is iterated, but it doesn’t provide an accessible summary of what the plan for Decred in the near future is.The concept of a roadmap still makes sense for individual contractors, both corporate and independent. Individuals have the autonomy to plan for the year and make those plans known, should they choose to.A number of independent contractors thought it would be useful to produce a shared roadmap document where we each have a space to talk about our plans. This should be considered a non-binding document. People change their minds sometimes and circumstances change.The following is an alphabetical list of Decred contractors and their plans for the year 2019. Participation was voluntary, so this is not an exhaustive list of contractors, just the people who felt like writing something:bee:Continue producing Decred Journal. I hope to delegate more work to free up time for other ideas.degeri:I started contributing to Decred 2018 and the response from the community has been very positive. My primary goal is strengthening Decred’s security. I do this by selecting 2–3 active projects per month and working on them, I will continue this cycle in 2019.There is joint research and development Decred git/contributor analysis work that is being done by both me and @s_ben.The Bug bounty proposal that I put up has passed, I expect this will take up the bulk of my time Q1 of 2019 as we work out any hitches in the rules, scope, methodology etc.After that I will use the knowledge gained from running the program to start working on a bug bounty website (for submission, triage, work allocation etc) based on Politeia. I will NOT be billing the project for this work. The plan to get it built up to a POC stage first before I ask the community for funding and extra hands via a Proposal.I will also continue helping out the community wherever possible both offline and online.dezryth:As an Event Support and Social Media Marketing contractor, my job is to make sure to stay on message with Decred’s team of independent contractors and the community at large. I’ve been with the team since October of 2017, helping shape the Facebook page and develop verbiage for our social media posts on various platforms. Beyond the digital front, I have contributed at many events, including Consensus and Texas Bitcoin Conference. Bringing new users to the fold by having the ability to speak passionately and knowledgeably on a subject is essential to our marketing efforts.In 2019, I intend to increase public appearances at local cryptocurrency meetups to spread awareness and tighten my public speaking abilities. I aim to ramp up assistance with social media marketing efforts to get in front of more eyes more often, and more effectively.As an entry-level software developer outside of the project, I also intend to focus much more attention to the technical details of our developers discussions and implementations within our code base. This will allow me to better communicate with engineer-minded individuals on the technical details of our project and our team’s accomplishments.In 2019, I hope to strengthen relationships with the team/community and offer support to the best of my ability. Anyone may feel free to contact me for questions on any of our platforms.dnldd:My focus is currently on putting out a v1 of the decred mining pool implementation I have been working on as well as improving work delivery options for dcrd. With regards to the mining pool, quite a bit has already been done, the outstanding tasks are implementing stratum protocol, full cycle tests on simnet with chain reorgs, and support for all dcrd ASICS released so far.Currently dcrd requires polling for available work. Knowing the mining pool will need more efficient ways of getting available work I have been working with davecgh on allowing clients to subscribe for work notifications via a new rpc (notifywork). This is close to completion as well but requires a lot of testing due to modifications it makes. We also plan to fix issues with the current getblocktemplate implementation and reenable it.I also have a couple outstanding dcrwallet tasks that should update and reenable tests.Dustorf:As Marketing Lead, my goal for 2019 at Decred is to generate a consensus on the positioning and messaging, then implement tactics that cultivate the community and project its message. I recently released a blog detailing the hiring of Ditto, a public relations firm, and we’ve begun work on messaging. Once this is set, we’ll build out the website to reflect the new messaging and add content that offers a deeper dive into Decred without the need to review the docs. I’ll present a proposal in the near future that details my plan including budget for the ongoing communications that will include video production and event presence/participation that will build upon Decred’s strengths and extend it to new geographies. First the building blocks, then the funnel, then the message projection to drive new users into the funnel.elian:My main contribution to Decred in the past 6 months has been organizing meetups for the crypto community in Mexico, connecting with exchanges in Latin America (Latam) and translating basic content for the Spanish speaking audience.2019 will be a great year to continue expanding Decred outreach in Mexico and Latam. There are already plans for the next 3 meetups in Mexico City for January, February, and March. In April we will have an expo booth in Talent Land 2019, the biggest tech expo in Mexico and Latam where we are expecting to show the project to more than 33k attendees. I have started conversations with 5 exchanges in Latam in order to have DCR listed this year against MXN, ARS, CLP, and COP. I will continue managing the twitter account @Decred_MX and the Medium Decred en Español for fundamental readings and information of Decred in Spanish. Following the steps of Decred BR, I am looking forward to expanding DCR presence in all the Spanish speaking countries and grow our community base in Latam.Guang:I look forward to contribute to expanding DCR presence in Asia with focus around Southeast Asia and China. I see my role in 2019 be mainly around belowContents : Making Decred related contents more accessible to the community, include but not limiting to translating, writing, collaborating with Decred supporters, manage social media.Events : Meetups/events in the region, attending events/meetups, identifying (potential) Decred supporters, collaboration on events / meetupsHaon:The past year I’ve been busy with many different things. Most notably:I have expanded and consolidated Decred’s social media presence.I have written, reviewed and published multiple articles via the Decred Medium Publication.I have recruited developers and on-boarded contractors in the marketing, community and strategy fields.I have negotiated DCR listings with major exchanges worldwide.I have represented Decred at conferences throughout Europe.In 2019 my focus will be on the long term vision and strategy. I will work with new and existing contractors to make Decred one of the 5 biggest digital store of value projects in the world. I will keep writing articles and remain available for daily operations.Insaf:In the order to make the Decred project more known in the Arabic world and grow the community my plans are:To contribute more in the social media by writing and translating the main articles about Decred so it can reach a large number of the Arabic crypto members.To contact more startups interested in crypto and BlockchainContinue supporting newcomers so they can understand well DecredCreate a website that contains all the information about Decred in ArabicTo do and participate in more meetups/events locally and in other Arabic countries to expand the Decred project in the North Africa and the Middle East.To continue managing the twitter account (https://twitter.com/DecredArabia) and the facebook account (https://www.facebook.com/Decred-Arabia-1836611206375151/)kozel:2019 is a period of time where I intend to step my game up and keep contributing in areas I’ve been involved in up to this point, namely meetups, writing, translation and outreach, and education, but ideally also branch out to something like video production.Meetups: My intention is to raise awareness of the project in my region, which is quite crypto-aware, and bring more talented, like-minded people like users, investors, and developers into the fold. The goal is to develop working relationships with people and institutions willing to give us a speaking platform and educate those interested through meetups, conferences, and more technically-oriented Decred presentations. The ideal outcome of activity in this field would be a sustained meetup presence at various local meetups and get-togethers throughout the country.Writing and Education: Decred never ceases to amaze me and it is this wonder and fascination with its fundamentals and propositions that I wish to communicate, to the best of my ability, through writing, hoping that in so doing some of it will rub off on people who will likewise become enchanted by its elegant complexity. I will try to develop original and interesting angles through which the Decred proposition can be communicated, and continue existing ones, like the Decred Infrastructure Interviews once interesting partners reveal themselves. Needless to say, this goes together with reaching out to potential new partners such as crypto news outlets and crypto websites and magazines to increase exposure and provide constant and reliable presence in the local crypto media space.Outreach: The ambitious though nebulous plan is to try and attract local players, like institutions, exchanges, businesses, etc., to Decred, partly through, possibly, striking up relationships by maintaining meetup and conference presence but also through pro-active outreach. This will also be attempted through the use and maintenance of local social media platforms and account such as the Decred_PL twitter account and Decred Polska Facebook page, now still in its infancy. Depending on time limitations this may be expanded to more participation in local crypto forums and message boards.I also intend to keep making Stakey plushies like these for the community to enjoy.It goes without saying that this is not an exhaustive list; it is subject to change and expand as new opportunities to benefit Decred emerge.Michae2xl:Continue producing Weekly Video for Brazilian Community (Youtube Channel) and continue to help Emilio in Brazilian channels. Continue supporting newcomers. More Meetups in 2019 in Canada-Toronto and if as possible support in Brazil as well. Building an organic community in Canada, partners, markets and continue helping out the every Decred community (offline, online and in person as well). I’m thinking in separate features as media’s (e.g twitter/decredexplorer) or something like that to find different ways for people learn about Decred, like a thought structure, so everyone can choose each feature to see first (study the feature like a project and unified later (e.g atomic swap, politeia, spv, dcrdata, decrediton, etc), for the first impact using the docs.decred.org. Continue manage all media’s below and other channels as possible to help, improves contents, to use key words (suggestions that I saw in channels), bring more connections like volunteers, devs, holders, so they can help us to growth our community and network (natural process).Brazil: instagram, twitter, meetup, youtube, telegramCanada: twitter, meetup, facebook, blog (I have the permission to publish articles about Decred in crypto portal)Global (test): decredexplorer twitterWas really good in 2018, in 2019 I hope to help more.oregonisaac:In 2019 I plan to continue my contribution as moderator in the Telegram communities for Decred. Par for the course in the Decred community, our Telegram group largely breaks the mold for cryptocurrency Telegram communities in a few ways:We have little to no price, moon, lambo discussion.Our group is new user friendly.We have NEVER added a member to our group.Our moderation system is decentralized with 12 members who can review the actions of other moderators to ensure integrity.We kick bots and bad actors to support a safer environment (most groups keep them to inflate numbers).Starting late 2018 I began a research project into the cryptocurrency ATMs on the market today to determine the best fit for Decred. I hope to complete the project in 2019. The remain steps are:Publish the results of the effort for the community.Determine the best resources to support an integration effort.Discuss the project in the Proposals group in Matrix to confirm at least some community support.Launch a proposal on Politeia for community support/funding of the project.Manage the relationship with the selected ATM provider and publish updates on the work while in progress.Assist in coordination of a jointly marketed ATM launch.I was invited to give my first Decred talk at a Seattle conference last fall and I am available for additional talks/invites in 2019 and will be seeking out those opportunities. I enjoyed meeting team members of other projects, investors, and enthusiastic community. Decred is also a very easy project to talk about because of the very high level of integrity. There are no subjects to avoid or areas to gloss over.Finally I am looking forward to contributing to the expansion of the DCC (Decred Contractor Clearance) project which is currently in development. As a moderator I’m excited to do what I can to support a structured and scalable environment that supports existing and new moderators and contributors in this novel decentralized space.richardred:More of the same, and maybe some new things.Politeia Digest: No longer on a weekly schedule, but regular updates in the same kind of format. It would be nice to automate some of the more mundane aspects.Research program: I’m looking forward to spending more time on this in 2019. There are some interesting projects being discussed — you can comment and use your Pi up/down comment votes to indicate which projects/ideas you would like to see progressing.Writing projects: My New Year’s resolution is to try and make these shorter and more focused.Helping out with whatever seems useful.I described my experience of working on Decred and plans for 2019 in more detail in this blog post. I think 2019 is going to be an exciting year for Decred, feels like the project is really starting to gain momentum in a number of areas now.s_benMy general plan is to continue focusing on technical documentation, while exploring opportunities to contribute code and analysis.On the docs front, I plan to continue interfacing with developers and porting relevant technical knowledge to dcrdocs. At some point, if there’s enough demand (and content), I plan to finish work begun by other contributors on a separate Decred Developer Documentation site.On the coding front, I’m currently collaborating with @degeri on the Decred git/contributor analysis project, a Decred Open Source Research initiative. I’m finding all the research ideas pitched so far generally fascinating, and will be looking for further opportunities to collaborate there. I’m also learning golang. My plan is to start with small tasks on Politeia and other go repos, learning by doing. If that goes well, will explore the possibility of contributing more substantially and billing for it.As I’m relatively new, I also expect to find other opportunities as the year progresses. I’m particularly interested in how the DAE evolves, Politeia, internal systems for processing information, recruiting, and DCR markets.Zubairzia0:My plans for 2019 are:Outreach — Help to increase presence on Linkedin (and possibly delegate) and grow the Decred community in the Greater Toronto Area (GTA) with Michae2xl.Research — More research articles. Develop a website that displays Security spend alongside other analytics Development.Repos — I have been helping make the user facing Docs more accurate and visual. Will continue to do more of this in 2019. I also plan to help out in other repos in 2019.Organization — I want to put together my own team of contractors to help on the above.Thank you noteAll text was delivered by individual Decred contractors. Minimal editing was done, hence there is a difference in writing styles. Shout-out to Richard Red for writing the introduction.Send me a message via Matrix or submit a pull request if you would still like to be added to this year’s contractor roadmap.Updates:Added dezryth (13/01/2019)Added oregonisaac (15/01/2019)Decred Independent Contractor Roadmap was originally published in Decred on Medium, where people are continuing the conversation by highlighting and responding to this story.

Decred

19. 01. 12

Decred and Ditto in 2019

To the community: The following is how Ditto is thinking about Decred in 2019. This should spark a conversation around what you think is a good idea, an idea not worth pursuing, or something you may want to build off of that we mentioned. As you will see, there are some questions we pose to you all. While we are already doing a lot of work around media relations and messaging (to name a few things), we are also in listening mode. This will further immerse us into your culture and community and bridge the gap between us to ensure that we crush it for you in 2019. Super excited!BIG PICTURE LOOK AT 2019Amidst the current bear market, anyone who has been close to crypto over the years knows big swings are par for the course. That said, next year is going to be a great year for crypto and blockchain projects. Here’s why.Topline things to expect:Media — both crypto trade and mainstream — are much more educated than they were in 2018.The bear market filtered out the scammy projects, so there’s a huge opportunity for credible projects like Decred to shine.At this point, many projects have — or are close to having — something built and are looking for people to get their hands on the metal.A lot of people are still super curious about crypto and will be getting off the sidelines — especially as prices (hopefully) rebound or calm down.More mainstream — consumer and business — adoption is inevitable. We are still in the early days.It’s going to be a great year!! It’s going to be a great year!!How Ditto Can Help DecredAfter talking to the Decred community at the NYC meetup and a handful of meetings, we’ve identified a few high-level things Ditto can focus on:Broadly building awareness of DecredGrowing the Decred community (including developers)Helping projects like Politeia gain recognitionPositioning Decred as the cryptocurrency where people can get involved, have sovereignty and longevity. Decred is built to evolve, thrive and last.ChallengesI’d like to get to this immediately. Not to get it out of the way, but to make sure we address it at the top.Understanding what you are working on — There’s a lot of you, and we have to find a way to hear about everything you are doing. We need to better understand projects completed, projects in-progress, and projects proposed.Technical vs Newsworthy — We have to look at projects through the lens of the media at times. Some more technical work may not be appealing to them. What’s “newsworthy” and what’s something we promote through other channels?Developers and Ditto — We are not developers. We need to be able to come to you (and vice versa) and ask questions. And we need you to come to us when you think something is interesting that should be promoted.MessagingHow do we talk about Decred? Do we compare it to Bitcoin, like many in the Decred community already do? It’s a challenge a lot of projects are working on right now: in a decentralized environment, how do we get the community to best explain our project in a clear, concise, and most importantly, consistent, manner?One of the first and most important things Ditto will do is create a messaging document that differentiates you from other blockchain projects, clearly defines your offering and talks about the future of Decred.Question to community:How would you describe Decred?Media relationsFrom CoinDesk to Bloomberg to Fortune, Ditto has solidified relationships with every reporter and producer that covers crypto and blockchain. Generating media awareness of Decred with these outlets and reporters is not going to be a challenge. Ditto got four reporters to a recent event Jake was at in just a few hours.And media coverage will range from features on Decred to more thought leadership around topics like governance.But what about developers? What do they read? Are there traditional media outlets that Ditto should focus on? I think a lot of the news they get is through Reddit, Twitter, The Next Web, etc.Question to community:What do you read and how do you get your news?Targeting DevelopersThere has been a lot of conversation around targeting developers, and in my humble opinion, this is going to be some of the most important work we do.Short term win: celebrating the communityDecred has a lot of amazing developers (devs) working on amazing projects. We need to celebrate the current dev community and build awareness of who is working on what. I see this as “rallying the base”. We need to organize and then educate everyone else about the Decred dev community. I also recognize that many of the community members prefer to remain anonymous or out of the public eye, and I respect that.Medium term result: attracting new devsWe don’t want mercenaries. Idealistically, we want devs to hear about Decred and do work based on their passion for what Decred stands for. This only highlights the need for clearly defined messaging, celebrating the work being done and highlighting devs already in the community. At face value, the financial reward is not lucrative, but we see an opportunity to talk about a dev who works full time at a company and makes some nice pocket change by working on Decred in his/her free time.How do we attract new developers?Recruitment — The more they hear about Decred, the more likely they are to leave the blockchain project they are working on or take on additional work within the Decred community.Off the sidelines — Are there devs not in crypto that are still looking for a project to join? Decred seems like a great entry point for emerging devs.Importance of Go — Is knowing Go a dealbreaker? To grow our talent pool, we need more devs who know the coding languages critical to Decred.Some of the tactics Ditto will propose include crypto conferences, hackathons, AMAs, meet-ups, bounties, etc.Question to community:How do you think we should target devs — new and old — to come work on Decred?Get involved!The reason I’m sharing these ideas with you is to get a conversation going as we gear up for 2019. Team Ditto is currently at work on the messaging document I mentioned above, and in the coming few weeks we’ll be putting together a comprehensive Q1 2019 strategy. Ideally, that strategy will incorporate some of the ideas you, the community, share with us in response to this post. Looking forward to hearing from you!Decred and Ditto in 2019Decred and Ditto in 2019 was originally published in Decred on Medium, where people are continuing the conversation by highlighting and responding to this story.

Decred

18. 12. 13

Decred and Ditto in 2019

To the community: The following is how Ditto is thinking about Decred in 2019. This should spark a conversation around what you think is a good idea, an idea not worth pursuing, or something you may want to build off of that we mentioned. As you will see, there are some questions we pose to you all. While we are already doing a lot of work around media relations and messaging (to name a few things), we are also in listening mode. This will further immerse us into your culture and community and bridge the gap between us to ensure that we crush it for you in 2019. Super excited!BIG PICTURE LOOK AT 2019Amidst the current bear market, anyone who has been close to crypto over the years knows big swings are par for the course. That said, next year is going to be a great year for crypto and blockchain projects. Here’s why.Topline things to expect:Media — both crypto trade and mainstream — are much more educated than they were in 2018.The bear market filtered out the scammy projects, so there’s a huge opportunity for credible projects like Decred to shine.At this point, many projects have — or are close to having — something built and are looking for people to get their hands on the metal.A lot of people are still super curious about crypto and will be getting off the sidelines — especially as prices (hopefully) rebound or calm down.More mainstream — consumer and business — adoption is inevitable. We are still in the early days.It’s going to be a great year!! It’s going to be a great year!!How Ditto Can Help DecredAfter talking to the Decred community at the NYC meetup and a handful of meetings, we’ve identified a few high-level things Ditto can focus on:Broadly building awareness of DecredGrowing the Decred community (including developers)Helping projects like Politeia gain recognitionPositioning Decred as the cryptocurrency where people can get involved, have sovereignty and longevity. Decred is built to evolve, thrive and last.ChallengesI’d like to get to this immediately. Not to get it out of the way, but to make sure we address it at the top.Understanding what you are working on — There’s a lot of you, and we have to find a way to hear about everything you are doing. We need to better understand projects completed, projects in-progress, and projects proposed.Technical vs Newsworthy — We have to look at projects through the lens of the media at times. Some more technical work may not be appealing to them. What’s “newsworthy” and what’s something we promote through other channels?Developers and Ditto — We are not developers. We need to be able to come to you (and vice versa) and ask questions. And we need you to come to us when you think something is interesting that should be promoted.MessagingHow do we talk about Decred? Do we compare it to Bitcoin, like many in the Decred community already do? It’s a challenge a lot of projects are working on right now: in a decentralized environment, how do we get the community to best explain our project in a clear, concise, and most importantly, consistent, manner?One of the first and most important things Ditto will do is create a messaging document that differentiates you from other blockchain projects, clearly defines your offering and talks about the future of Decred.Question to community:How would you describe Decred?Media relationsFrom CoinDesk to Bloomberg to Fortune, Ditto has solidified relationships with every reporter and producer that covers crypto and blockchain. Generating media awareness of Decred with these outlets and reporters is not going to be a challenge. Ditto got four reporters to a recent event Jake was at in just a few hours.And media coverage will range from features on Decred to more thought leadership around topics like governance.But what about developers? What do they read? Are there traditional media outlets that Ditto should focus on? I think a lot of the news they get is through Reddit, Twitter, The Next Web, etc.Question to community:What do you read and how do you get your news?Targeting DevelopersThere has been a lot of conversation around targeting developers, and in my humble opinion, this is going to be some of the most important work we do.Short term win: celebrating the communityDecred has a lot of amazing developers (devs) working on amazing projects. We need to celebrate the current dev community and build awareness of who is working on what. I see this as “rallying the base”. We need to organize and then educate everyone else about the Decred dev community. I also recognize that many of the community members prefer to remain anonymous or out of the public eye, and I respect that.Medium term result: attracting new devsWe don’t want mercenaries. Idealistically, we want devs to hear about Decred and do work based on their passion for what Decred stands for. This only highlights the need for clearly defined messaging, celebrating the work being done and highlighting devs already in the community. At face value, the financial reward is not lucrative, but we see an opportunity to talk about a dev who works full time at a company and makes some nice pocket change by working on Decred in his/her free time.How do we attract new developers?Recruitment — The more they hear about Decred, the more likely they are to leave the blockchain project they are working on or take on additional work within the Decred community.Off the sidelines — Are there devs not in crypto that are still looking for a project to join? Decred seems like a great entry point for emerging devs.Importance of Go — Is knowing Go a dealbreaker? To grow our talent pool, we need more devs who know the coding languages critical to Decred.Some of the tactics Ditto will propose include crypto conferences, hackathons, AMAs, meet-ups, bounties, etc.Question to community:How do you think we should target devs — new and old — to come work on Decred?Get involved!The reason I’m sharing these ideas with you is to get a conversation going as we gear up for 2019. Team Ditto is currently at work on the messaging document I mentioned above, and in the coming few weeks we’ll be putting together a comprehensive Q1 2019 strategy. Ideally, that strategy will incorporate some of the ideas you, the community, share with us in response to this post. Looking forward to hearing from you!Decred and Ditto in 2019Decred and Ditto in 2019 was originally published in Decred on Medium, where people are continuing the conversation by highlighting and responding to this story.

Decred

18. 12. 13

Detailed analysis of Decred...

It is not a secret anymore that pure PoW networks are vulnerable to forking. We have witnessed the creation of several minority forked coins, most notably Ethereum Classic, Bitcoin Gold, Bitcoin Cash, and Bitcoin SV.This post explains how the Decred network prevents minority forks, based on an analysis originally posted on Reddit by davecgh. It describes important aspects of Decred’s hybrid Proof-of-Work (PoW) and Proof-of-Stake (PoS) consensus system and provides a detailed walkthrough of what would happen if any entity attempted to split the Decred blockchain.If you need a reminder on why forks should be avoided, read this article:Blockchain forks and chain splits: why we should avoid them.Preliminary knowledgeThe Decred network is secured by both PoW miners and PoS voters. The PoS voting system works by locking up chunks of coins into what is called a voting ticket. These tickets function as fundamental building blocks which allow stakeholders to participate in Decred’s governance.Per block, maximum 20 new tickets are available. Once acquired, there is a 256-block maturity period after which the ticket is placed into the live ticket pool. This pool has a target size of 40960 tickets, but it can grow or shrink throughout the course of operation. PoS difficulty (ticket price) is adjusted via supply and demand to maintain the 40960 target size. The algorithm that controls the ticket price is described in DCP0001.Live tickets are waiting in the pool to cast their vote and the selection process is impossible for PoW miners to manipulate. The algorithm that controls ticket selection is primarily based on the hash of the previous block, which means it is both pseudorandom and deterministic. If you are building block 100 on top of block 99, the tickets to be included in block 100 are known to every full node on the network. Ticket selection can only be changed by finding a new solution to block 99 with a different hash, which in turn would cause a new set of random tickets to be selected for voting eligibility.Each block, 5 tickets are eligible to vote. At least 3 out of the 5 votes must be included in the block, otherwise it will not be accepted by the network. The reward for PoW miners is reduced if only 3 or 4 votes are included, by 40% and 20%, respectively, to discourage miners from ignoring votes and in that way attempting to game the system.It is important to note that stakeholders must be present on a given chain fork when their tickets are selected. The act of acquiring a ticket does not mean it automatically votes, your wallet (or your Voting Service Provider) has to cast your vote when the ticket is selected. This distinction is key because it means that the live ticket pool on a minority fork is largely comprised of non-voting tickets, since its owners are on another chain.A detailed treatment of the theory behind each of these aspects is beyond the scope of this post, however, it primarily has to do with protection against various adversarial situations.Scenario, Assumptions, and MethodologyWith all of this in mind, let’s imagine a scenario in which an entity attempts to create a fork that 75% of the stakeholders don’t agree with.Let’s assume that both sides of the attempted fork have equal hash power (so 50% hash power on each fork). As stated, 75% of the stakeholders are on the majority chain, while 25% are on the minority chain.Further, let’s assume the most recent block at the point of the fork is block 99999. Thus both sides of the fork are working on finding block 100000, one side on the minority rule set, the other side on the majority rule set.Finally, in order to simplify the description and make it easier to follow the logic, since only 25% of the stakeholders are on the minority chain, let’s say that every 4th ticket in the live ticket pool is a stakeholder on the minority chain. In other words, ticket numbers 0, 4, 8, 12, 16, 20, …, 40956 are tickets in the live pool which represent stakeholders on the minority chain, while ticket numbers 1, 2, 3, 5, 6, 7, 9, …, 40957, 40958, 40959, are tickets in the live pool which represent stakeholders on the majority chain.Remember: stakeholders must be present on a given chain fork when their tickets are selected to successfully cast their votes.Illustration of the imaginary scenario.Step-by-step walkthroughThe following is a sequence of events that would happen in the scenario of a forking attempt, as described and illustrated above.Block 100000The hash power on both chains will try to build a new block on top of block 99999.In order for this new block to be built on the minority chain, it needs to acquire at least 3 votes from the live ticket pool and the selected votes depend on block 99999.The tickets required to build block 100000, based on a block 99999 hash, are ticket numbers 17113, 17331, 21307, 21328, and 24903.As we can see, 4 out of those 5 tickets are stakeholders on the majority chain (ticket numbers 17113, 17331, 21307, and 24903), which means they are going to cast their votes for block 100000 on the majority chain.The minority chain is only able to acquire 1 vote (ticket number 21328), so it can’t build a block 100000. Instead, it must go back and find a new solution to block 99999 to cause a new set of tickets to be selected.At this point, the chains look as follows. Parentheses with the * in this notation indicate blocks that are being worked on.... -> [99999] -> (100000*)majority stakeholders (75%) are on this chain\-> (99999a*)minority stakeholders (25%) are on this chainIn other words, the majority chain is now working on block 100000, while the minority chain is stuck trying to find a new solution for block 99999 in order to get a new set of tickets hoping this time they’ll be able to get at least 3 votes. Since, per our thought experiment, both chains have equal hash power, we can safely assume that, on average, both block 100000 on the majority chain and new block 99999 (call it 99999a) on the minority chain will be found around the same time.Block 100001At this point, the following will happen:The hash power on the majority chain will try to build a new block on top of the majority chain’s block 100000. The votes required for this block are ticket numbers 563, 6766, 21009, 37394, and 37775.This time, all 5 out of those 5 tickets happen to be stakeholders on the majority chain, which means they are going to provide their votes for block 100000 on the majority chain which allows block 100001 to be built.The minority chain, now with a new version of block 99999 (99999a) has a new hash, so it ends up requiring ticket numbers 1069, 8007, 16413, 19172, and 31821.The minority chain is still only able to acquire 1 vote (ticket number 19172), so it must once again go back and find yet another new solution to block 99999 in order to cause a new set of tickets to be selected.The chains now look as follows:... -> [99999] -> [100000] -> (100001*) majority stakeholders (75%) are on this chain\-> (99999b*)minority stakeholders (25%) are still on this chainIn other words, the majority chain is now working on block 100001, while the minority chain is still stuck trying to find yet another new solution for block 99999 in order to get a new set of tickets hoping this time they’ll be able to get at least 3 votes. Since, per our thought experiment, both chains have equal hash power, we can again safely assume that, on average, both block 100001 on the majority chain and a new block 99999 (call it 99999b) on the minority chain will be found around the same time.Block 100002At this point, the following will happen:The hash power on the majority chain will try to build a new block on top of the majority chain’s block 100001. The votes required for this block are ticket numbers 174, 1999, 12808, 31928, and 38317.This time, 3 out of those 5 tickets are stakeholders on the majority chain (ticket numbers 174, 1999, 38317), which means they are going to provide their votes for block 100001 on the majority chain which allows block 100002 to be built.The minority chain, now with a new version of block 99999 (99999b) has a new hash, so it ends up requiring ticket numbers 4653, 15211, 29988, 35175, and 35665.The minority chain is still only able to acquire 1 vote (ticket number 29988), so it must once again go back and find yet another new solution to block 99999 in order to cause a new set of votes to be selected.The chains now look as follows:... -> [99999] -> [100000] -> [100001] -> (100002*)majority stakeholders (75%) are on this chain\-> (99999c*)minority stakeholders (25%) are still on this chainIn other words, the majority chain is now working on block 100002, while the minority chain is still stuck trying to find yet another new solution for block 99999 in order to get a new set of tickets hoping this time they’ll be able to get at least 3 votes.Fast-forward to Block 100010The process repeats until, eventually, some variant of block 99999 on the minority chain gets lucky and happens to select 3 tickets that are on the minority chain. This turns out to be roughly 1 in 10 tries. So, fast forwarding a bit to see the chain by the time this happens, the chains would look as follows:... -> [99999] -> [100000] -> [100001] -> [100002] -> ... -> [100009] -> (100010*)majority stakeholders (75%) are on this chain\-> [99999j] -> (100000a*)minority stakeholders (25%) are still on this chainIt should be pretty clear, since both chains have equal hash power, there is no way the minority chain can now ever catch up to the majority chain. Furthermore, the same process is going to repeat for the minority chain’s block 100001 where it will have to go back and remine (find new solutions) for its block 100000 over and over until it gets a lucky draw again such that it gets the 3 votes it needs.Consequently, miners are not going to stay on the minority chain because they are hardly getting any rewards. The minority chain will never be profitable and hence all mining power will eventually return to the majority chain.Common objectionsWhat if the minority chain gets more than 10x the hash power of the main chain?Theoretically, if the minority chain with only 25% stakeholder approval had 10x the hash power of the main chain, yes, it could keep up with the majority chain. However, this is not a realistic scenario because of the economic incentives.Mining the minority chain with 10x the hash power effectively means that the miners would only be getting 1/10 of the block reward as they would on the majority chain, based on hash power alone. In our scenario it’s reduced even further to 1/10 of 60% due to only being able to include 3 votes on average. In other words, miners would only receive 6% of the rewards they would by mining the majority chain. Looking at it from another angle, they would receive 94% less by mining the minority chain.Putting that into numbers, if a miner had, say 5% of the total network hash power, they could expect to receive roughly 5% of the PoW reward per block, or 5% of ~13.89 ≈ 0.6945 DCR at the current time. However, on the minority chain, first the reward would be 60% of ~13.89 ≈ 8.334 DCR, and then that 5% hash power would only be 0.5% of the total hash power on the minority chain, thus 0.5% of ~8.334 ≈ 0.04167 DCR. Looking at the numbers, we can see that 0.04167 DCR is indeed 6% of 0.6945 DCR.PoW mining is very competitive since it is a zero sum game. Most miners, even those with huge advantages such as free electricity, have thin margins and are often banking on future appreciation to pick up the slack. Given the 94% reduction in income, most miners would actually have to pay in order to mine on the minority chain.Can’t somebody just change the consensus rules to ignore the stakeholders?If the minority chain removed or disabled ticket voting for a certain period of time, it would be able to produce blocks and fork away from the majority chain. While it is theoretically possible, doing so would completely destroy the hybrid system and return the forked currency to effectively being a pure PoW network. It would undoubtedly no longer be Decred.Unlike in pure PoW coins where nobody can say which chain is the “real” one due to the lack of a provable and formalized governance system, Decred has a very clear and well understood governance model. Decred stakeholders make the decision which chain is the real Decred and they do so in an on-chain and cryptographically provable fashion.Stakeholders sign up for Decred with the expectation that major consensus decisions are made by the stakeholders themselves. Removing the authority of the stakeholders would be akin to removing Proof-of-Work from a pure PoW coin. In other words, it would completely destroy the security properties of the system. How much confidence are holders going to have in a coin that ignores one of the primary characteristics it claims to offer?ConclusionDecred’s hybrid PoW and PoS consensus system makes blockchain forks extremely difficult — if not impossible — without majority stakeholder approval. The walkthrough has demonstrated why a Classic, Gold, or Cash scenario is highly unlikely on the Decred network.The costs to maintain a minority fork with even 10x of the hash power are substantial; miners can expect a severe reduction in income if they decide to participate. Alternatively, it is possible to remove or disable the PoS system and split the Decred chain like any other PoW network. However, this defeats the purpose of Decred and it is doubtful whether anyone would take such an attempt seriously.Getting the fundamentals of fork resistance right is critical to longevity. The hybrid PoW and PoS system creates checks and balances to ensure that small groups cannot dominate the flow of transactions or make changes to Decred without agreement among stakeholders. It incentivizes coordination and collaboration, which turns Decred into an uncommonly strong network that is built to last for the long-term.Further readingThis post has covered the important topic of fork resistance, but there is much more to discover. For example, the hybrid PoW and PoS system of Decred is also a superior deterrent to majority (51%) attacks. If you want to know how this works, read this post by Zubair Zia:Decred's hybrid protocol, a superior deterrent to majority attacksFor more advanced topics, you could investigate how Decred can smoothly upgrade its network via voting on consensus rule changes, or how people can submit proposals to the off-chain governance system called Politeia. If you prefer technical details, check out the Decred Documentation.Pick one of the chat platforms listed here if you want to interact with the Decred community. We are a pragmatic bunch of people — come join us!CreditsIf it wasn’t for the original analysis by davecgh, this post would probably not exist. Furthermore, Artikozel’s review and the constructive comments in the writers room improved this post tremendously. The illustration of the scenario was created by Zubair Zia. Thank you, all!Detailed analysis of Decred fork resistance was originally published in Decred on Medium, where people are continuing the conversation by highlighting and responding to this story.

Decred

18. 12. 12

Detailed analysis of Decred...

It is not a secret anymore that pure PoW networks are vulnerable to forking. We have witnessed the creation of several minority forked coins, most notably Ethereum Classic, Bitcoin Gold, Bitcoin Cash, and Bitcoin SV.This post explains how the Decred network prevents minority forks, based on an analysis originally posted on Reddit by davecgh. It describes important aspects of Decred’s hybrid Proof-of-Work (PoW) and Proof-of-Stake (PoS) consensus system and provides a detailed walkthrough of what would happen if any entity attempted to split the Decred blockchain.If you need a reminder on why forks should be avoided, read this article:Blockchain forks and chain splits: why we should avoid them.Preliminary knowledgeThe Decred network is secured by both PoW miners and PoS voters. The PoS voting system works by locking up chunks of coins into what is called a voting ticket. These tickets function as fundamental building blocks which allow stakeholders to participate in Decred’s governance.Per block, maximum 20 new tickets are available. Once acquired, there is a 256-block maturity period after which the ticket is placed into the live ticket pool. This pool has a target size of 40960 tickets, but it can grow or shrink throughout the course of operation. PoS difficulty (ticket price) is adjusted via supply and demand to maintain the 40960 target size. The algorithm that controls the ticket price is described in DCP0001.Live tickets are waiting in the pool to cast their vote and the selection process is impossible for PoW miners to manipulate. The algorithm that controls ticket selection is primarily based on the hash of the previous block, which means it is both pseudorandom and deterministic. If you are building block 100 on top of block 99, the tickets to be included in block 100 are known to every full node on the network. Ticket selection can only be changed by finding a new solution to block 99 with a different hash, which in turn would cause a new set of random tickets to be selected for voting eligibility.Each block, 5 tickets are eligible to vote. At least 3 out of the 5 votes must be included in the block, otherwise it will not be accepted by the network. The reward for PoW miners is reduced if only 3 or 4 votes are included, by 40% and 20%, respectively, to discourage miners from ignoring votes and in that way attempting to game the system.It is important to note that stakeholders must be present on a given chain fork when their tickets are selected. The act of acquiring a ticket does not mean it automatically votes, your wallet (or your Voting Service Provider) has to cast your vote when the ticket is selected. This distinction is key because it means that the live ticket pool on a minority fork is largely comprised of non-voting tickets, since its owners are on another chain.A detailed treatment of the theory behind each of these aspects is beyond the scope of this post, however, it primarily has to do with protection against various adversarial situations.Scenario, Assumptions, and MethodologyWith all of this in mind, let’s imagine a scenario in which an entity attempts to create a fork that 75% of the stakeholders don’t agree with.Let’s assume that both sides of the attempted fork have equal hash power (so 50% hash power on each fork). As stated, 75% of the stakeholders are on the majority chain, while 25% are on the minority chain.Further, let’s assume the most recent block at the point of the fork is block 99999. Thus both sides of the fork are working on finding block 100000, one side on the minority rule set, the other side on the majority rule set.Finally, in order to simplify the description and make it easier to follow the logic, since only 25% of the stakeholders are on the minority chain, let’s say that every 4th ticket in the live ticket pool is a stakeholder on the minority chain. In other words, ticket numbers 0, 4, 8, 12, 16, 20, …, 40956 are tickets in the live pool which represent stakeholders on the minority chain, while ticket numbers 1, 2, 3, 5, 6, 7, 9, …, 40957, 40958, 40959, are tickets in the live pool which represent stakeholders on the majority chain.Remember: stakeholders must be present on a given chain fork when their tickets are selected to successfully cast their votes.Illustration of the imaginary scenario.Step-by-step walkthroughThe following is a sequence of events that would happen in the scenario of a forking attempt, as described and illustrated above.Block 100000The hash power on both chains will try to build a new block on top of block 99999.In order for this new block to be built on the minority chain, it needs to acquire at least 3 votes from the live ticket pool and the selected votes depend on block 99999.The tickets required to build block 100000, based on a block 99999 hash, are ticket numbers 17113, 17331, 21307, 21328, and 24903.As we can see, 4 out of those 5 tickets are stakeholders on the majority chain (ticket numbers 17113, 17331, 21307, and 24903), which means they are going to cast their votes for block 100000 on the majority chain.The minority chain is only able to acquire 1 vote (ticket number 21328), so it can’t build a block 100000. Instead, it must go back and find a new solution to block 99999 to cause a new set of tickets to be selected.At this point, the chains look as follows. Parentheses with the * in this notation indicate blocks that are being worked on.... -> [99999] -> (100000*)majority stakeholders (75%) are on this chain\-> (99999a*)minority stakeholders (25%) are on this chainIn other words, the majority chain is now working on block 100000, while the minority chain is stuck trying to find a new solution for block 99999 in order to get a new set of tickets hoping this time they’ll be able to get at least 3 votes. Since, per our thought experiment, both chains have equal hash power, we can safely assume that, on average, both block 100000 on the majority chain and new block 99999 (call it 99999a) on the minority chain will be found around the same time.Block 100001At this point, the following will happen:The hash power on the majority chain will try to build a new block on top of the majority chain’s block 100000. The votes required for this block are ticket numbers 563, 6766, 21009, 37394, and 37775.This time, all 5 out of those 5 tickets happen to be stakeholders on the majority chain, which means they are going to provide their votes for block 100000 on the majority chain which allows block 100001 to be built.The minority chain, now with a new version of block 99999 (99999a) has a new hash, so it ends up requiring ticket numbers 1069, 8007, 16413, 19172, and 31821.The minority chain is still only able to acquire 1 vote (ticket number 19172), so it must once again go back and find yet another new solution to block 99999 in order to cause a new set of tickets to be selected.The chains now look as follows:... -> [99999] -> [100000] -> (100001*) majority stakeholders (75%) are on this chain\-> (99999b*)minority stakeholders (25%) are still on this chainIn other words, the majority chain is now working on block 100001, while the minority chain is still stuck trying to find yet another new solution for block 99999 in order to get a new set of tickets hoping this time they’ll be able to get at least 3 votes. Since, per our thought experiment, both chains have equal hash power, we can again safely assume that, on average, both block 100001 on the majority chain and a new block 99999 (call it 99999b) on the minority chain will be found around the same time.Block 100002At this point, the following will happen:The hash power on the majority chain will try to build a new block on top of the majority chain’s block 100001. The votes required for this block are ticket numbers 174, 1999, 12808, 31928, and 38317.This time, 3 out of those 5 tickets are stakeholders on the majority chain (ticket numbers 174, 1999, 38317), which means they are going to provide their votes for block 100001 on the majority chain which allows block 100002 to be built.The minority chain, now with a new version of block 99999 (99999b) has a new hash, so it ends up requiring ticket numbers 4653, 15211, 29988, 35175, and 35665.The minority chain is still only able to acquire 1 vote (ticket number 29988), so it must once again go back and find yet another new solution to block 99999 in order to cause a new set of votes to be selected.The chains now look as follows:... -> [99999] -> [100000] -> [100001] -> (100002*)majority stakeholders (75%) are on this chain\-> (99999c*)minority stakeholders (25%) are still on this chainIn other words, the majority chain is now working on block 100002, while the minority chain is still stuck trying to find yet another new solution for block 99999 in order to get a new set of tickets hoping this time they’ll be able to get at least 3 votes.Fast-forward to Block 100010The process repeats until, eventually, some variant of block 99999 on the minority chain gets lucky and happens to select 3 tickets that are on the minority chain. This turns out to be roughly 1 in 10 tries. So, fast forwarding a bit to see the chain by the time this happens, the chains would look as follows:... -> [99999] -> [100000] -> [100001] -> [100002] -> ... -> [100009] -> (100010*)majority stakeholders (75%) are on this chain\-> [99999j] -> (100000a*)minority stakeholders (25%) are still on this chainIt should be pretty clear, since both chains have equal hash power, there is no way the minority chain can now ever catch up to the majority chain. Furthermore, the same process is going to repeat for the minority chain’s block 100001 where it will have to go back and remine (find new solutions) for its block 100000 over and over until it gets a lucky draw again such that it gets the 3 votes it needs.Consequently, miners are not going to stay on the minority chain because they are hardly getting any rewards. The minority chain will never be profitable and hence all mining power will eventually return to the majority chain.Common objectionsWhat if the minority chain gets more than 10x the hash power of the main chain?Theoretically, if the minority chain with only 25% stakeholder approval had 10x the hash power of the main chain, yes, it could keep up with the majority chain. However, this is not a realistic scenario because of the economic incentives.Mining the minority chain with 10x the hash power effectively means that the miners would only be getting 1/10 of the block reward as they would on the majority chain, based on hash power alone. In our scenario it’s reduced even further to 1/10 of 60% due to only being able to include 3 votes on average. In other words, miners would only receive 6% of the rewards they would by mining the majority chain. Looking at it from another angle, they would receive 94% less by mining the minority chain.Putting that into numbers, if a miner had, say 5% of the total network hash power, they could expect to receive roughly 5% of the PoW reward per block, or 5% of ~13.89 ≈ 0.6945 DCR at the current time. However, on the minority chain, first the reward would be 60% of ~13.89 ≈ 8.334 DCR, and then that 5% hash power would only be 0.5% of the total hash power on the minority chain, thus 0.5% of ~8.334 ≈ 0.04167 DCR. Looking at the numbers, we can see that 0.04167 DCR is indeed 6% of 0.6945 DCR.PoW mining is very competitive since it is a zero sum game. Most miners, even those with huge advantages such as free electricity, have thin margins and are often banking on future appreciation to pick up the slack. Given the 94% reduction in income, most miners would actually have to pay in order to mine on the minority chain.Can’t somebody just change the consensus rules to ignore the stakeholders?If the minority chain removed or disabled ticket voting for a certain period of time, it would be able to produce blocks and fork away from the majority chain. While it is theoretically possible, doing so would completely destroy the hybrid system and return the forked currency to effectively being a pure PoW network. It would undoubtedly no longer be Decred.Unlike in pure PoW coins where nobody can say which chain is the “real” one due to the lack of a provable and formalized governance system, Decred has a very clear and well understood governance model. Decred stakeholders make the decision which chain is the real Decred and they do so in an on-chain and cryptographically provable fashion.Stakeholders sign up for Decred with the expectation that major consensus decisions are made by the stakeholders themselves. Removing the authority of the stakeholders would be akin to removing Proof-of-Work from a pure PoW coin. In other words, it would completely destroy the security properties of the system. How much confidence are holders going to have in a coin that ignores one of the primary characteristics it claims to offer?ConclusionDecred’s hybrid PoW and PoS consensus system makes blockchain forks extremely difficult — if not impossible — without majority stakeholder approval. The walkthrough has demonstrated why a Classic, Gold, or Cash scenario is highly unlikely on the Decred network.The costs to maintain a minority fork with even 10x of the hash power are substantial; miners can expect a severe reduction in income if they decide to participate. Alternatively, it is possible to remove or disable the PoS system and split the Decred chain like any other PoW network. However, this defeats the purpose of Decred and it is doubtful whether anyone would take such an attempt seriously.Getting the fundamentals of fork resistance right is critical to longevity. The hybrid PoW and PoS system creates checks and balances to ensure that small groups cannot dominate the flow of transactions or make changes to Decred without agreement among stakeholders. It incentivizes coordination and collaboration, which turns Decred into an uncommonly strong network that is built to last for the long-term.Further readingThis post has covered the important topic of fork resistance, but there is much more to discover. For example, the hybrid PoW and PoS system of Decred is also a superior deterrent to majority (51%) attacks. If you want to know how this works, read this post by Zubair Zia:Decred's hybrid protocol, a superior deterrent to majority attacksFor more advanced topics, you could investigate how Decred can smoothly upgrade its network via voting on consensus rule changes, or how people can submit proposals to the off-chain governance system called Politeia. If you prefer technical details, check out the Decred Documentation.Pick one of the chat platforms listed here if you want to interact with the Decred community. We are a pragmatic bunch of people — come join us!CreditsIf it wasn’t for the original analysis by davecgh, this post would probably not exist. Furthermore, Artikozel’s review and the constructive comments in the writers room improved this post tremendously. The illustration of the scenario was created by Zubair Zia. Thank you, all!Detailed analysis of Decred fork resistance was originally published in Decred on Medium, where people are continuing the conversation by highlighting and responding to this story.

Decred

18. 12. 12

Decred Journal - November 2018

This post covers what happened in Decred in the month of November. It is the 8th issue of the Decred Journal and you can find the original post on GitHub. Past issues are available via this GitHub link.November was an exciting and productive month for the Decred Project. The community began to reap the benefits of Politeia development with live proposal voting and the first proposals being approved. Stakeholders collectively voiced key steering decisions regarding the future of contractor management, public relations, and research all from the comfort of their Decred wallet of choice (Decrediton or command line with the politeiavoter tool).Additional companies and individuals joined the Decred ecosystem while some long term contributors self-organized according to interests and abilities.Amidst the excitement, growth and change in the community, Decred development continued with high levels of activity and progress.Developmentdcrd: Two big changes started last month were merged after extensive testing. First one is reversed UTXO set semantics and its accompanying database migration, an important change that provides simpler and more efficient handling of unspent outputs. A side effect of this is that full block reorganization tests run 40% faster. Second one is optimized reorganization handling. New –maxsameip argument allows to limit the number of connections with the same IP address. A fix to an ultra rare bug was ported from upstream btcd.dcrwallet: Added new RPCs to use ticketbuyer v2, to get single ticket and to sweep account. Added ability to use alternative database backend, this is useful for mobile platforms. Fixed bugs: address watching for heavily used wallets, missed or double spent transactions, missing addresses and transactions.Work started on a big change to improve the calculation of “locked” balance that should address some issues for solo, VSP and split ticket voters.Decrediton: Added features: new page to choose SPV or full mode and display of the Decred Treasury balance. Automatic ticket buying was switched to ticketbuyer v2. It has fewer options and is simpler to use than v1 thanks to the stabilized ticket prices. Now all the user needs to specify is balance to maintain, account and stakepool to use. Startup performance of large wallets was improved. Politeia integration saw improvements as well including more responsive proposal loading and notifications for new proposals and votes. UI/UX tuneups: updated proposal list design, overview design improvements, updated account icons and improvements to the navigation icons and microanimations. To ensure continued cross-platform stability and performance Decrediton was updated to Electron 3.The features mentioned above were merged into the master branch and will be available in the next release of Decrediton.Trezor: Model T firmware version 2.0.9 was released with Decred support. Cheers @matheusd for making it happen! Now our Decrediton developers can work on the integration.Beware: A fake Trezor One was discovered, check the blog how to verify and shop for a genuine device.Politeia: politeiavoter privacy and performance was improved by randomized ticket voting order, randomized delays between votes and filtering of already voted tickets. By popular demand an email notification system was created to support awareness about new proposals and comments. Verification of cast votes was made possible by the search by ticket feature where the search is performed on the client side to protect privacy. Comment permalinks and distinguished author comments are now live. A new “Abandoned” status was added to handle abandoned proposals. “Finished” tab was split into “Approved” and “Rejected” tabs. SVG support was disabled until proper tooling to sanitize SVG is found. A small vulnerability was patched, thanks to @iemlisted for reporting. Lots of smaller improvements and bugfixes.Note that some of these features will be available on the mainnet site after the next deployment.Work started on the features to view diffs between proposal revisions and to highlight new comments.Android wallet: mainnet pre-release version is available on Google Play Store! The Play Store version includes updated currency conversion that shows fee in local currency and advanced password protection with the ability to lock all data and to use an access pin code. This version also includes a security menu which allows users to sign messages proving ownership of addresses. Another community sourced innovation is the Hidden Account feature. Hidden accounts allow mobile users to keep funds in their mobile wallet which will not be displayed on the main screen balance total. The added privacy this feature offers will be useful for people buying and selling Decred at local meetups. Fund transfer between accounts was simplified with dropdown selection.iOS wallet: the wallet is currently in beta testing and will require additional development cycles to incorporate the feature set available on Android.dcrdata: New features integrated into the codebase this month include a network hashrate chart, the addition of the Decred Treasury to nav menu, showing that an output is spent in mempool and showing tx type on address view. Time grouping accuracy was improved.Preview of the new home page, along with all new features is available on the alpha site which runs v3.2.0-pre built from master. A more stable beta site runs v3.1.0-beta. The most stable explorer.dcrdata.org runs v3.0.2-release. For consistency with Insight links, the latter is also accessible at mainnet.dcrdata.org.On the dev side, @gozart started an epic refactoring effort to convert javascript codebase to ES6 modules, add webpack for front end dev tooling and production asset bundling, enforce code style and convert CSS to SCSS partials.dcrstakepool: this is the software used by most, if not all VSPs. The README document was updated with build instructions for Go modules. Transaction links were changed from Insight to dcrdata.Several privacy issues were discovered and discussed. A patch is being tested to replace Google recaptcha with self-hosted CAPTCHA to avoid fingerprinting of stakeholders — VSP operators are welcome to join testing. Request to Cloudflare was removed. An issue to make email optional was raised.Ticket splitting: the beta continued to grow during November with split tickets filled daily. Two VSPs that integrated ticket splitting, decredbrasil.com and decredvoting.com, released an educational walk-through video in Portuguese and English and a general ticket splitting overview, in addition to guides on their sites. The software was updated to support SPV light mode. Please read the issue to consider privacy implications.Ticket splitting support groups exist both on the Decred Slack and in the Telegram Group where VSP agnostic instructions are available.design: @kyle at Firethought announced a Decred icon motion pack which promises to bring “more engaging Decred application experiences” and builds on the icon pack designed by EETER.docs: November was a huge month for documentation with a variety of community supported changes and updates. The proposal passed which confirmed a community desire to change “PoS Mining” to “PoS Voting” and “stakepool” to “Voting Service Provider (VSP)” in all Decred documentation. First batch of changes is merged. Updates were made to adopt the term “Decred Treasury”. For those looking to take a deeper dive into Politeia a new Navigating Politeia Data page was created. The long awaited Decred Glossary was completed and published in part due to a huge effort by @s_ben and many people who supported the work with feedback and suggestions. We highly recommend utilizing the glossary to improve our shared community understanding.Dev activity stats for November: 266 active PRs, 268 master commits, 45K added and 25K deleted lines spread across 8 repositories. Contributions came from 3–11 developers per repository. (chart)PeopleA warm welcome to new people contributing for the first time: logicminds (dcrd, missed in Oct issue), @itswisdomagain (dcrdata), rocknet (decrediton), @brunobraga (politeiagui).Congratulations to 5 new contributors listed on decred.org: Insaf Nori (@butterfly, community manager — Middle East), Guang (@guang, community manager — Asia), Seth Benton (@s_ben, developer), Youssef Boukenken (@sef, developer), Zubair Zia (@zubairzia0, research and strategy).@kozel interviewed the operator of a long established coinmine.pl Feeleep for a deep dive into Decred infrastructure.I have to say that from a technical standpoint Decred is the only daemon which has never experienced any stability or syncing issues in my entire business history.October issue included a rather short mention of the new contractor company, so let’s give a proper introduction. Block 42 is a blockchain development company based in Minsk, Belarus, that leverages blockchain technology to bring more transparency and efficiency to finance, insurance, logistics and supply chain industries. Their parent company Grinteq is based in New York, USA. Contributor team so far:Nick Kaeshko (@Nick) — co-founder, making sure things run smoothly.Maria Pleshkova (@Maria) — UI/UX designer, contributed to the stakepool theme overhaul, making it more consistent with the current UI of Decrediton. Currently working on the redesign of Politeia: some UI/UX updates and new features implementation.Dmitry Fedorov (@klka) — Golang developer, currently in the process of making blockchain indexes asynchronous to speed up block processing.Soon to be officially joined by one more member.Welcome aboard!GovernanceAs previously reported, funding for Ditto PR services and Open Source Research was approved early in November. Mid-November the Decred community discussed contractor management and voted to adopt a Decred Contractor Clearance process which aims formalize best practices employed by open source projects. Premium listing on Easyrabbit exchange was rejected.New proposals as of Dec 6 are listed below.Upgrade mining algorithm to ProgPoW submitted by engineerking on Nov 11The author proposes to change Decred’s mining algorithm to ProgPoW.Status: Abandoned.Decred Open Source Research proposal 2 — research projects submitted by @richardred on Nov 21A follow-up to the first research proposal that aims to collect ideas for research projects and determine the most needed ones.Status: Author has not yet authorized the start of voting.Decred integration into Crypto-ATMs submitted by bcashgr on Nov 24This proposal from a company called Bcash seeks funding to integrate Decred into their ATMs. Development cost of EUR 25,000 and 1,650 EUR/month for support.Status: Voting is active since Dec 4.Decred Radio Advertising, 190+ FM and AM Stations, + Intl. Satellite submitted by ftl_ian on Nov 26This is a proposal to get Decred advertised on a radio show called “Free Talk Live”. Total cost is $22,750 for 13 weeks.Status: Voting is active since Dec 4.Decredex submitted by fabianreum on Nov 26This proposal requests funding to work on a decentralized exchange by a company called REUM Ltd. It has a maximum budget of $1,086,500.Status: Voting is active since Dec 4.Add Decred support to Coffee Wallet submitted by francio on Nov 29The proposal aims to fund the work of adding Decred support to “Coffee Wallet”. This would cost 150 DCR and is projected to be ready by early January.Status: Author has not yet authorized the start of voting.Stable coin — USDD submitted by fabianreum on on Nov 29This proposal requests funding to work on a stablecoin (USDD) backed by Decred. It involves partnerships between multiple companies. They have budgeted $1,576,000 for 4 years, a full breakdown is provided in the proposal.Status: Author has not yet authorized the start of voting.Decred Bug Bounty Proposal submitted by @degeri on Nov 30This proposal aims to establish a bug bounty program for Decred, through which anyone who reports a bug or vulnerability can be compensated. The proposal requests a budget of $5,000 for 6 months to cover setup and operations costs, and estimates an upper limit of $100,000 for payouts during this time. @degeri has put considerable effort into consulting with the community on how this bounty program should be operated, and in particular making sure that the current Decred contractors who would work with the program are on board.Status: Author has not yet authorized the start of voting.Several people started hacking on Politeia data in #proposals and #research. @snr01 shared charts of voting evolution.Low quality proposals cluttering Politeia were discussed in depth and multiple ideas were suggested. @richardred gave a nice overview of this in Politeia Digest #4.The #proposals room is very active and hosts many insightful discussions about Politeia and upcoming proposals. Join on Matrix or Slack.The weekly Politeia Digest by @richardred covers all important activity around Politeia in greater detail, check issue 4, issue 5 and issue 6 released this month (and issue 7 in early December). Reddit discussions can be found with this search query.NetworkHashrate: November’s hashrate opened at around 156 PH/s and closed around 159 PH/s, reaching the low of 125 PH/s and high of 234 PH/s in between. BeePool’s share varied between 19–30%, F2Pool 15–46%, Luxor 1.6–4%, and Coinmine 1.9–4%. Unknown hashrate stayed between 25–50% with lows of 15% and spikes to 75%. Pool distribution numbers are approximate and cannot be accurately determined.Fun fact: the expected total number of hashes it took to produce the current chain tip is getting pretty close to the number of hashes needed to do a birthday attack on a single RIPEMD160.Staking: 30-day average ticket price was 103 DCR (+3.2). The price varied between 96.7 and 110.2 DCR. Locked amount was 4.02–4.18 million DCR, which corresponded to 45.9–47.2% of the available supply.After the price dropped to 96.7, 1,378 tickets were purchased in a single window that bumped the price to 110.2 after 9 subsequent price increases. This is the new all time high on the new sdiff algorithm that has been in effect since July 2017.@permabull nino shared a few more charts showing an uptick in deposited DCR.Nodes: as of Dec 1 there are 204 public listening nodes and 332 normal nodes per dcred.eu. Version distribution: 6.5% are v1.4.0(pre) dev builds (+0.5%), 50% on v1.3.0 (+5%), 25% on v1.2.0 (-3%), 11% on v1.1.2 (-3%), 5% on v1.1.0.MiningObelisk began producing Batch 2–5 units and expects to begin shipping in early December, after that it will take ~4 weeks to fulfill all orders. On Dec 4 they announced several new offers: SC1 hashing boards can be purchased and installed into DCR1 units, DCR1 can be converted to Batch 6 SC1 or sold back to Obelisk. The details are in the newsletter post.The Whatsminer D1 turned out to be 48 TH/s, 9% up from expected 44 TH/s. The price was bumped by $350 to $4,850 from Pangolin. MicroBT’s price changes and shipment delay were handled differently by resellers and drew varied opinions from the community about best practices.Bitmain announced the Decred Antminer DR5 with 34 TH/s at 1800 W, price CNY 19,000 (USD 2,750) and shipping late December. European importers of the DR5 are listing tentative availability the week of Dec 21 and prices ranging from USD 3,299 to EUR 3,291 (USD 3,724).Video review of Obelisk DCR1 was published on youtube. Photos of innovative Canadian cooling leaked in chat.Luxor pool announced a 3–5% hashrate boost for Decred miners.IntegrationsNew VSPs:decred.staked.us with 5% fee. Staked is a company that provides staking services for multiple cryptocurrencies and has recently published a guide on how to stake Decred using their VSP.dcrpool.dittrex.com with 1% fee.Exchange integrations:Bitqist announced Decred integration on r/decred. The exchange is based in the Netherlands. @Haon reported that withdrawals work but deposits are not possible.Kaiserex officially launched an OTC desk after being involved in OTC trading since 2015. DCR is one of the supported cryptocurrencies, on the fiat side are USD, EUR, GPB and JPY. Min. trade size is EUR 50,000 and the fees are 0.05–1%DragonEx added the DCR/BTC trading pair.AdoptionUK holiday shoppers have another option to spend Decred this season. MonetaryUnit announced that DCR is accepted on Flubit, a UK marketplace they acquired in the summer. Some insights from the blog post: Flubit is a 8 year-old eCommerce company that served over 3 million shoppers last year, the cryptocurrency integration is seamless for the merchants.Coinstop, Australian reseller of Trezor, Ledger and KeepKey devices, now accepts DCR.OutreachOutreach for the month of November was mostly of the planning variety, though many local meetups did take place across the world, including important events in Melbourne and Ho Chi Minh City. @eSizeDave and @joshuam are doing a great job spreading Decred in Asia Pacific.@Dustorf released an extensive blog detailing the process of Ditto’s proposal approval from preliminary vetting, to proposal discussion and voting, to the next steps in planning and executing. The blog received a ton of pre-release feedback in #marketing showing the power and skill of our writers. Much work was done aggregating data to upload and share with the Ditto team so we can hit the ground running in December. @Dustorf had an onboarding call on Monday, Dec 3, and he and @jy-p plan to meet with Ditto in person later that week.Per @Dustorf’s blog, the initial focus will be on gaining community alignment on positioning and messaging, then rolling that into some web updates while also planning for 2019 execution of the communications strategy. Ditto will engage publicly on Matrix in #marketing, and sensitive information will be reserved for a new Matrix room called “Ditto PR”. If you think you can help and would like to be invited to this room, please reach out to @jz or @Dustorf to be added.December will be a month of planning, and @jy-p will present “Applications of Blockchain Timestamping” at The North American Bitcoin Conference in Miami, USA on Jan 16–18. Other events will likely be confirmed the first week of December and will be made public in #marketing.Besides planning mid and long term strategy our PR will also act on current opportunities, as explained in #marketing.@Haon started a discussion on Reddit about what to expect from the Ditto partnership and shared thoughts based on his experience with the Decred community and collaboration with the previous PR firm (PRWithBrains).EventsAttended:Training and planning session by Raedah Group in Portland, USA. (photo)Web Summit in Lisbon, Portugal. Was a very busy event and a lot of people approached Decred’s booth. @moo31337 introduced Decred to Portugal’s prime minister Antonio Costa. @vj and @jholdstock published a report here. @karamble, who “did a good job of using baby and grown up stakey to illustrate ticket stages” posted more notes here regarding the proliferation of private blockchain companies. (photos: 1 2 3 4 5 compo, videos below)PDX Blockchain Summit & Hackathon in Portland, USA. Raedah Group presented Decentralized Governance in Decred. (photos: 1 2)Token Forum in Seattle, USA. @oregonisaac presented on Decred and Blockchain Governance. @Eli-RG noted that the talk was a big success with lots of feedback coming in like: “most interesting talk of the day” and “you’ve opened my eyes” or, as one of the organizers put it: “He’s…great!!!!”. More notes from @oregonisaac here. (photo)Blockmaster in Sao Palo, Brazil. @Rhama presented Decred and Politeia. (photos: 1 2)FinTech Melbourne Community Networking in Melbourne, Australia. @eSizeDave reports: “It was a great turnout especially considering only a week to promote on MeetUp. People were happy and many asked if we’d hold this event more regularly, which is of course our plan. We had people there from financial institutions, FinTech regulatory analysis and advocacy professionals, startups, and also other blockchain projects. Two data scientists from ANZ Bank told me they’d proactively googled for such an event and coincidentally found it, having not already being FinTech Melbourne MeetUp group members. So I guess it goes to show there’s demand for such events. This was a good outcome, so we’ll be putting in more effort into the next FinTech focused event.”. See also a follow-up discussion about why to focus on “fintech” when it is an industry that Decred is supposed to disrupt. (photos: 1 2)BlockchainFiesta in Krakow, Poland. @kozel and @donmario gave an interview to FXMag that will be published later. Excerpt from the full report: “Some of the conference speakers that we engaged with were well impressed with Decred’s forethought and the ‘build first, hype second’ ethos”. (TV news coverage, photos: album)Blockchain Melbourne in Melbourne, Australia. @eSizeDave introduced Decred, followed by two presenters from Apollo Capital. They first introduced their services and talked about how they do project analysis and due diligence, with an emphasis on the points where Decred checks the boxes, then spoke specifically about Decred. From the notes: “A great well-educated crowd. Quite surprised we got such a good crowd for investment analysis, with only about 1.5 weeks promotion, plus a bloodbath hash war market.” and “It should be noted that the bulk of the credit goes to @Zohand here as he has a longer standing relationship with Apollo Capital.”. Announcement discussion is here, post-event notes with more insights are here and here. (photos)Lessons from DevCon4 & Web3 Summit in Melbourne, Australia. From @eSizeDave: “the event is held at the RMIT Blockchain Innovation Hub. The Royal Melbourne Institute of Technology (RMIT) is a university in Melbourne and the first in Australia to establish its own dedicated blockchain innovation hub as part of its School of Economics. (…) The official organizers have recently returned from Devcon in Prague, and will present on lessons learnt from the conference. They attended our event on Nov 20 and asked us and Apollo Capital to present on Decred, and specifically Politeia.”. The event was mostly Ethereum people, but the Politeia presentation by James from Apollo Capital seemed to go well. (photos)Dinner with Decred in Ho Chi Minh City, Vietnam. @joshuam introduced Decred. The organizers (@BitcoinSaigon) then noted: “Some very interesting and fundamental conversations around the essence, importance and viability of decentralized systems were sparked last night. Very refreshing discussions in a time where marketing fluff seems to rule over substance in the space.” (photos: 1 2)Upcoming:The North American Bitcoin Conference in Miami, USA on Jan 16–18. @jy-p will give a 15 minute presentation on the main stage on Politeia. He’ll also explore a wide variety of applications that could utilize Politeia, including cryptocurrency, corporate, and governmental. Examples include tokens, record keeping and voting systems. Decred will also have a 10’x8’ exhibit booth, so we’ll need to put a team together. We’re looking for community members to join us to work the show. Please message @Dustorf if you’re interested.Campus Party in Sao Paulo, Brazil on Feb 12–17. Decred will have speakers and an exclusive area for hackathons.Jalisco Talent Land in Guadalajara, Mexico on Apr 22–26. Decred will have a 3x3 m booth with 10 conference passes. @elian will present an overview of Decred (45 min) with Q&A (15 min), plus there will be a two hour breakout session where we’ll walk through How to Use Decrediton, Staking Process, Lifescycle of a Ticket, and How to Use Politeia. Contact @elian if you’re interested in helping/attending.@jz posted guidelines on representing Decred at conferences.Part of the Web Summit crew and a random astronautMediaArticles:Blockchain forks and chain splits: why we should avoid them by @Haon (medium, missed in Oct issue)Marco Peereboom Interview: Governance, Decred & Politeia (coinbureau.com)Decred Infrastructure Interviews: feeleep, Operator, coinmine.pl (medium, also in Polish)PR in Politeia: Process, Progress, and Pitching In by @Dustorf (medium)Blockchain governance: how Decred iterates upon Bitcoin by @zubairzia0 (medium)DCR Ticket Splitting — All you need to know! by @David (medium, reddit)Hash War Theater: A Costly Spectacle by @richardred (medium)What is Decred? by @kozel (Polish, bithub.pl)Decred Review — Democratic Governance Puts Users in Control (coiniq.com)Smaller PoW coins are in constant danger of 51% attacks — Decred governance model is the solution (captainaltcoin.com)Decred Ticket Splitting by @guang (Chinese, medium)More articles on various websites were published, but we only listed a selected few. The decred-media-tracker project is intended to track all articles.Translations:Blockchain governance: how Decred iterates upon Bitcoin by @zubairzia0 — in Chinese by @guangDecred: Where did it all begin? by @thedecreddigest — in Spanish by @elianDecred Recruiting by @jy-p — in Spanish by @elianPoliteia in Production by @jy-p — in Portuguese by @mmDecred Journal — October 2018 in Russian and in Italian by @DZ. This is epic work, October issue was 53 kilobytes of text, 1.5x larger than previous record.Videos:Several videos were added to Decred’s Texas Bitcoin Conference playlist which now has 18 videos. All 52 videos from the event are in this playlist.@moo31337 gave an extended interview with Paul Snow after the Texas Bitcoin Conference discussing the behind the scenes history of Decred and other open source projects.Videos with @moo31337 from Web Summit: Investing in Crypto, Is crypto here to stay?.Crypto with Chingas interviewed @joshuam about the importance of dispute resolution in a decentralized project.@michae2xl produced new Decred Weekly episodes and an interview with @Tiago Alves and @fernandoabolafio about Politeia. Find these and past videos in Portuguese on Decred Brazil channel.Standard & Consensus rated Decred C+. The original report is in Chinese and @guang wrote a review of it in Chinese also. The weak aspects noted by the report are low social media activity, low trading volume and high liquidity risk. The strong aspects are hybrid PoW+PoS system that balances holders, miners and developers, experienced development team and better sovereignty of the community enabled by voting systems.Community DiscussionsCommunity stats as of Dec 1:Twitter followers 40,004 (-1598)Reddit subscribers 9,131 (+147)Matrix users 203 (+10)Slack users 6,353 (+82)Telegram users 4,642 (+213)YouTube subscribers 3,736 (+10)Facebook 3,105 (+20) followers and 2,867 (+18) likesLinkedIn followers: Decred Page 433 (+27), Politeia page 20 (+8)GitHub 447 (+17) stars and 1,159 (+41) forks of dcrd repositoryComm systems news:New #research room was created to work on projects for Open Source Research Proposal.Bridge interruptions led to some messages not being delivered from Slack to Matrix.A new subreddit was started to overcome the disturbing development of censorship of r/decred, discussion here. (bee: yes I’m trolling)Two new rules added to r/decred: “One Price Thread at a Time” and “No Enticing”. Motivation explained in this post.Still looking for more Discord mods and someone to implement spam resistance.There was a phishing attempt to scam MyEtherWallet users. Stay vigilant!Twitter: a poll on whether open Politeia voting is a good process, more of the beloved plutocracy thing; on-chain governance blockchains are not the same, Decred vs Tezos governance systems.Reddit: whether DCR whales are good or bad for Decred; investing using Treasury funds and conflicts of interest; Politeia hub-and-spoke model for private torrent trackers; trusting hardware wallets; how many atomic swaps were made.Chat index was omitted from this issue. The plan is to replace it with a live collaborative document.MarketsThe crypto market saw a $70 billion drop in November with most of the top 100 assets by marketcap losing 30% to 60% of USD value. Bitcoin established an aggregated low at $3,606 after dropping from its monthly high of $6,540 making a total 45% peak-bottom spread. Between Nov 14–15 most top 100 assets lost 10–20% USD value in a single day — one day before the infamous BCH split. Forbes and Bloomberg attributed the BTC dump to the Bitcoin Cash fork, the latter citing fear, uncertainty and doubt of some guys. At the end of the month both coins emerged from the fork as sustained new chains but together the price is 40% less than pre-fork lows. Others like Yahoo Finance attribute the SEC rulings about ICOs to the drop.Decred was not immune to the market movement and saw a drop from $40 to $19.8 at end of month.Relevant ExternalNvidia reported a drop in GPU sales for mining. This must have nothing to do with Ethereum, Zcash and others receiving ASICs for their GPU-oriented mining algorithms, but rather “it is really the canary in the coal mine for Bitcoin and other cryptocurrencies” per the experts. Seriously guys, it is the collapse of cryptocurrency mining.New study of Bitcoin mining gives some breakeven and mining cost estimates and suggests that some miners are shutting down equipment. Another interesting finding is that nearly 80% of energy used comes from renewables.A paper was published in Nature Climate journal that suggests Bitcoin PoW mining will have significant negative impact on climate change. Discussion in #random noted serious misunderstandings of how PoW works and alarmingly low quality of the paper, along with some guesses about why it was published.Ethereum Foundation is funding efforts to create ASICs that compute Verifiable Delay Function (VDF) as a replacement for Proof-of-Work mining for blockchain security. This article compares VDF and Proof-of-Work.Zcash approved funding of ProgPoW prototype for Zcash. This ASIC-resistant, GPU-friendly algorithm was also proposed on Politeia recently.Zcash is looking into hybrid ASIC-GPU mining, among other improvements planned for next year’s protocol upgrade.According to this thread, yet another coin with claimed ASIC resistance received an ASIC, while the developers removed ASIC resistance claims from the website. Reddit thread that questioned this was wiped out. An instance where transparent censorship could be useful. (missed in Oct issue)A new core library written in Rust was released for Bitcoin Cash. This adds to existing rust-bitcoin, parity-bitcoin and bitcrust. Rust is another modern language besides Go that aims for safety and performance. It’s nice to see this software emerging since it may be useful for Decred, which is open to multiple implementations.Bitcoin Cash, born as a solution to the long-running Bitcoin scaling debate, itself had a contentious hard fork this month. This article has a good summary of what the fork was about. The sides came to be referred to by their dominant software implementation, Bitcoin ABC and Bitcoin Satoshi’s Vision. BCH ABC was planning a hard fork to add canonical transaction ordering and a new OP code — BCH SV rejects these changes and plans instead to return to a set of rules based on Bitcoin version 0.1.0.Miners and oracles seemed to be split relatively evenly between the two sides, with Roger Ver and Jihan Wu on the ABC side and Craig S Wright and Calvin Ayre on the BCH SV side. This contentious hard fork was even more contentious than most, as the BCH SV side announced that they would nullify the replay protection added by ABC (another good article about the run-up to the fork). SV actually planned to mitigate ABC’s replay protection by allowing miners to collect any BCH transferred using the new ABC OP codes — so that the use of these new features would result in the loss of BCH on the SV chain. There were also threats to attack the ABC chain and kill it, or make it unusable for long periods, should the SV chain have sufficient hashpower.This post on r/btc compiled a list of resources for following the fork as it played out. The cash.coin.dance site has a number of tools for keeping track of the fork in real-time. This article has a good report from 24 hours after the fork. @richardred has written a short perspective on this Hash War Theatre also. On Nov 26 the SV side backed off and declared that the hash war was over, they would allow both chains to co-exist in peace. With both chains seemingly being allowed to co-exist by the balance of mining power, it seems like the costs in this case are to be expressed primarily in terms of community fragmentation and aggravation. The BCH holder community in this case did not really have a role to play or way to affect the outcome, it was one for the miners to hash out.Feels good to have Decred tickets that can be used to prevent sustained contentious chain splits, and to punish miners who turn the chain into a vehicle for their own power plays, should that ever become a problem.This month also saw the launch of SharkPool, a startup which aims to attack other Bitcoin forked chains by mining empty blocks and selling the profits for BCH.There appears to be some drama in the RChain community, involving people being laid off and a possible fork. It is difficult to find any sources about this beyond this blog post. This is not the first internal conflict for RChain, since it itself was born out of a disagreement inside Synereo project which has led to a split in the past (discussion)Looking at all the fighting in other communities I (@bee) can’t help but insert a personal comment. It appears to me that communities waste a ton of energy on all the controversies. This energy is not building value. Chain splits and community splits leave both sides with less people, less talent, and less chances to make any long term impact. It is ironic that in a space of programmed decentralized consensus systems so many people fail to achieve human consensus. Decred manages to keep moving at its decent speed because it avoids external, and more importantly, internal conflicts. Let us keep incentives aligned and keep the community together.Aragon released a new version on Oct 30 which allows users to create organizations on the Ethereum mainnet. Prior to this, 15,000+ organizations had apparently been created through previous versions on Ethereum testnets. Aragon can be used to create an “organization”, add members and assign them tokens, and then hold signal votes with those tokens. The community also recently voted overwhelmingly (99.97%!) to approve AGP-1, a Governance Proposal Process.The NavCoin community fund was launched on Nov 16. NavCoin’s community fund operates on “dual-vote consensus”, with an initial vote to decide if a proposal is approved or not, and then a subsequent vote to determine whether the payout should be made (after the work is done). Voters are participants in NavCoin staking, and vote with the weight of their stake. The community fund receives 0.25 NAV from each block minted, 500K NAV per year, or around $93K at today’s prices. Proposal voting lasts for one week and requires participation of 50% of stakers, with 70% approval required for acceptance.UK government canceled a stablecoin project based on a fork of btcd. @alexbosworth noted: “The thing about stablecoins is that one day someone can come along and cancel the whole thing.”.DEX news: IDEX decided to implement IP blocking and KYC, SEC charged EtherDelta founder with operating an unregistered exchange.Listing on Coinbase does not always result in a pump.Unchained podcast episode discusses “why ICOs are down 90% since the winter, why airdrops could be a better than ICOs for seeding usage on networks, whether or not they’re legal and which wallets to target.” (non-itunes link).Bitfinex abandons the 1:1 conversion between USD and USDT while Tether.to reopens verifications and direct USDT withdrawals, min. $100,000 USD.Security news: Seven new Spectre and Meltdown attacks were revealed that impact Intel, AMD and ARM CPUs to various degrees. This is following a new Intel Hyper-Threading vulnerability discovered earlier same month. These revelations continue to show that we need safer and more open hardware to run our cryptocurrencies.SMS, and relying on mobile operators in general, shown to be a bad choice for 2FA. In this recent incident, a server not even protected with a password leaked millions of SMS messages containing 2FA codes, password resets and other sensitive information nearly in real-time. In another case, lawsuits like this will hopefully push cellular providers to improve security, but they won’t get your coins back. Speaking even more generally, most smartphones have a baseband chip and other proprietary parts — nobody really knows what they are doing or how vulnerable they are.Headphone software was caught installing a root certificate that can potentially be abused to impersonate websites.Copay wallet was infected with malware to steal cryptocurrency. If you used this wallet or one derived from it, you may need to move your coins to a new seed. This coverage includes details like affected software and versions. The cause was repository compromise of one of the npm dependencies. No known Decred software was affected.Quite a lot of security troubles this month, but hopefully these warnings will help to educate and keep your coins safe.About This IssueChinese translation by @guang is available on Medium and GitHub.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 and contributions are welcome on Reddit, GitHub and Matrix.Credits (alphabetical order): bee, degeri, guang, Haon, kozel, oregonisaac, richardred, zubairzia0.Decred Journal - November 2018 was originally published in Decred on Medium, where people are continuing the conversation by highlighting and responding to this story.

Decred

18. 12. 08

Decred Journal - November 2018

This post covers what happened in Decred in the month of November. It is the 8th issue of the Decred Journal and you can find the original post on GitHub. Past issues are available via this GitHub link.November was an exciting and productive month for the Decred Project. The community began to reap the benefits of Politeia development with live proposal voting and the first proposals being approved. Stakeholders collectively voiced key steering decisions regarding the future of contractor management, public relations, and research all from the comfort of their Decred wallet of choice (Decrediton or command line with the politeiavoter tool).Additional companies and individuals joined the Decred ecosystem while some long term contributors self-organized according to interests and abilities.Amidst the excitement, growth and change in the community, Decred development continued with high levels of activity and progress.Developmentdcrd: Two big changes started last month were merged after extensive testing. First one is reversed UTXO set semantics and its accompanying database migration, an important change that provides simpler and more efficient handling of unspent outputs. A side effect of this is that full block reorganization tests run 40% faster. Second one is optimized reorganization handling. New –maxsameip argument allows to limit the number of connections with the same IP address. A fix to an ultra rare bug was ported from upstream btcd.dcrwallet: Added new RPCs to use ticketbuyer v2, to get single ticket and to sweep account. Added ability to use alternative database backend, this is useful for mobile platforms. Fixed bugs: address watching for heavily used wallets, missed or double spent transactions, missing addresses and transactions.Work started on a big change to improve the calculation of “locked” balance that should address some issues for solo, VSP and split ticket voters.Decrediton: Added features: new page to choose SPV or full mode and display of the Decred Treasury balance. Automatic ticket buying was switched to ticketbuyer v2. It has fewer options and is simpler to use than v1 thanks to the stabilized ticket prices. Now all the user needs to specify is balance to maintain, account and stakepool to use. Startup performance of large wallets was improved. Politeia integration saw improvements as well including more responsive proposal loading and notifications for new proposals and votes. UI/UX tuneups: updated proposal list design, overview design improvements, updated account icons and improvements to the navigation icons and microanimations. To ensure continued cross-platform stability and performance Decrediton was updated to Electron 3.The features mentioned above were merged into the master branch and will be available in the next release of Decrediton.Trezor: Model T firmware version 2.0.9 was released with Decred support. Cheers @matheusd for making it happen! Now our Decrediton developers can work on the integration.Beware: A fake Trezor One was discovered, check the blog how to verify and shop for a genuine device.Politeia: politeiavoter privacy and performance was improved by randomized ticket voting order, randomized delays between votes and filtering of already voted tickets. By popular demand an email notification system was created to support awareness about new proposals and comments. Verification of cast votes was made possible by the search by ticket feature where the search is performed on the client side to protect privacy. Comment permalinks and distinguished author comments are now live. A new “Abandoned” status was added to handle abandoned proposals. “Finished” tab was split into “Approved” and “Rejected” tabs. SVG support was disabled until proper tooling to sanitize SVG is found. A small vulnerability was patched, thanks to @iemlisted for reporting. Lots of smaller improvements and bugfixes.Note that some of these features will be available on the mainnet site after the next deployment.Work started on the features to view diffs between proposal revisions and to highlight new comments.Android wallet: mainnet pre-release version is available on Google Play Store! The Play Store version includes updated currency conversion that shows fee in local currency and advanced password protection with the ability to lock all data and to use an access pin code. This version also includes a security menu which allows users to sign messages proving ownership of addresses. Another community sourced innovation is the Hidden Account feature. Hidden accounts allow mobile users to keep funds in their mobile wallet which will not be displayed on the main screen balance total. The added privacy this feature offers will be useful for people buying and selling Decred at local meetups. Fund transfer between accounts was simplified with dropdown selection.iOS wallet: the wallet is currently in beta testing and will require additional development cycles to incorporate the feature set available on Android.dcrdata: New features integrated into the codebase this month include a network hashrate chart, the addition of the Decred Treasury to nav menu, showing that an output is spent in mempool and showing tx type on address view. Time grouping accuracy was improved.Preview of the new home page, along with all new features is available on the alpha site which runs v3.2.0-pre built from master. A more stable beta site runs v3.1.0-beta. The most stable explorer.dcrdata.org runs v3.0.2-release. For consistency with Insight links, the latter is also accessible at mainnet.dcrdata.org.On the dev side, @gozart started an epic refactoring effort to convert javascript codebase to ES6 modules, add webpack for front end dev tooling and production asset bundling, enforce code style and convert CSS to SCSS partials.dcrstakepool: this is the software used by most, if not all VSPs. The README document was updated with build instructions for Go modules. Transaction links were changed from Insight to dcrdata.Several privacy issues were discovered and discussed. A patch is being tested to replace Google recaptcha with self-hosted CAPTCHA to avoid fingerprinting of stakeholders — VSP operators are welcome to join testing. Request to Cloudflare was removed. An issue to make email optional was raised.Ticket splitting: the beta continued to grow during November with split tickets filled daily. Two VSPs that integrated ticket splitting, decredbrasil.com and decredvoting.com, released an educational walk-through video in Portuguese and English and a general ticket splitting overview, in addition to guides on their sites. The software was updated to support SPV light mode. Please read the issue to consider privacy implications.Ticket splitting support groups exist both on the Decred Slack and in the Telegram Group where VSP agnostic instructions are available.design: @kyle at Firethought announced a Decred icon motion pack which promises to bring “more engaging Decred application experiences” and builds on the icon pack designed by EETER.docs: November was a huge month for documentation with a variety of community supported changes and updates. The proposal passed which confirmed a community desire to change “PoS Mining” to “PoS Voting” and “stakepool” to “Voting Service Provider (VSP)” in all Decred documentation. First batch of changes is merged. Updates were made to adopt the term “Decred Treasury”. For those looking to take a deeper dive into Politeia a new Navigating Politeia Data page was created. The long awaited Decred Glossary was completed and published in part due to a huge effort by @s_ben and many people who supported the work with feedback and suggestions. We highly recommend utilizing the glossary to improve our shared community understanding.Dev activity stats for November: 266 active PRs, 268 master commits, 45K added and 25K deleted lines spread across 8 repositories. Contributions came from 3–11 developers per repository. (chart)PeopleA warm welcome to new people contributing for the first time: logicminds (dcrd, missed in Oct issue), @itswisdomagain (dcrdata), rocknet (decrediton), @brunobraga (politeiagui).Congratulations to 5 new contributors listed on decred.org: Insaf Nori (@butterfly, community manager — Middle East), Guang (@guang, community manager — Asia), Seth Benton (@s_ben, developer), Youssef Boukenken (@sef, developer), Zubair Zia (@zubairzia0, research and strategy).@kozel interviewed the operator of a long established coinmine.pl Feeleep for a deep dive into Decred infrastructure.I have to say that from a technical standpoint Decred is the only daemon which has never experienced any stability or syncing issues in my entire business history.October issue included a rather short mention of the new contractor company, so let’s give a proper introduction. Block 42 is a blockchain development company based in Minsk, Belarus, that leverages blockchain technology to bring more transparency and efficiency to finance, insurance, logistics and supply chain industries. Their parent company Grinteq is based in New York, USA. Contributor team so far:Nick Kaeshko (@Nick) — co-founder, making sure things run smoothly.Maria Pleshkova (@Maria) — UI/UX designer, contributed to the stakepool theme overhaul, making it more consistent with the current UI of Decrediton. Currently working on the redesign of Politeia: some UI/UX updates and new features implementation.Dmitry Fedorov (@klka) — Golang developer, currently in the process of making blockchain indexes asynchronous to speed up block processing.Soon to be officially joined by one more member.Welcome aboard!GovernanceAs previously reported, funding for Ditto PR services and Open Source Research was approved early in November. Mid-November the Decred community discussed contractor management and voted to adopt a Decred Contractor Clearance process which aims formalize best practices employed by open source projects. Premium listing on Easyrabbit exchange was rejected.New proposals as of Dec 6 are listed below.Upgrade mining algorithm to ProgPoW submitted by engineerking on Nov 11The author proposes to change Decred’s mining algorithm to ProgPoW.Status: Abandoned.Decred Open Source Research proposal 2 — research projects submitted by @richardred on Nov 21A follow-up to the first research proposal that aims to collect ideas for research projects and determine the most needed ones.Status: Author has not yet authorized the start of voting.Decred integration into Crypto-ATMs submitted by bcashgr on Nov 24This proposal from a company called Bcash seeks funding to integrate Decred into their ATMs. Development cost of EUR 25,000 and 1,650 EUR/month for support.Status: Voting is active since Dec 4.Decred Radio Advertising, 190+ FM and AM Stations, + Intl. Satellite submitted by ftl_ian on Nov 26This is a proposal to get Decred advertised on a radio show called “Free Talk Live”. Total cost is $22,750 for 13 weeks.Status: Voting is active since Dec 4.Decredex submitted by fabianreum on Nov 26This proposal requests funding to work on a decentralized exchange by a company called REUM Ltd. It has a maximum budget of $1,086,500.Status: Voting is active since Dec 4.Add Decred support to Coffee Wallet submitted by francio on Nov 29The proposal aims to fund the work of adding Decred support to “Coffee Wallet”. This would cost 150 DCR and is projected to be ready by early January.Status: Author has not yet authorized the start of voting.Stable coin — USDD submitted by fabianreum on on Nov 29This proposal requests funding to work on a stablecoin (USDD) backed by Decred. It involves partnerships between multiple companies. They have budgeted $1,576,000 for 4 years, a full breakdown is provided in the proposal.Status: Author has not yet authorized the start of voting.Decred Bug Bounty Proposal submitted by @degeri on Nov 30This proposal aims to establish a bug bounty program for Decred, through which anyone who reports a bug or vulnerability can be compensated. The proposal requests a budget of $5,000 for 6 months to cover setup and operations costs, and estimates an upper limit of $100,000 for payouts during this time. @degeri has put considerable effort into consulting with the community on how this bounty program should be operated, and in particular making sure that the current Decred contractors who would work with the program are on board.Status: Author has not yet authorized the start of voting.Several people started hacking on Politeia data in #proposals and #research. @snr01 shared charts of voting evolution.Low quality proposals cluttering Politeia were discussed in depth and multiple ideas were suggested. @richardred gave a nice overview of this in Politeia Digest #4.The #proposals room is very active and hosts many insightful discussions about Politeia and upcoming proposals. Join on Matrix or Slack.The weekly Politeia Digest by @richardred covers all important activity around Politeia in greater detail, check issue 4, issue 5 and issue 6 released this month (and issue 7 in early December). Reddit discussions can be found with this search query.NetworkHashrate: November’s hashrate opened at around 156 PH/s and closed around 159 PH/s, reaching the low of 125 PH/s and high of 234 PH/s in between. BeePool’s share varied between 19–30%, F2Pool 15–46%, Luxor 1.6–4%, and Coinmine 1.9–4%. Unknown hashrate stayed between 25–50% with lows of 15% and spikes to 75%. Pool distribution numbers are approximate and cannot be accurately determined.Fun fact: the expected total number of hashes it took to produce the current chain tip is getting pretty close to the number of hashes needed to do a birthday attack on a single RIPEMD160.Staking: 30-day average ticket price was 103 DCR (+3.2). The price varied between 96.7 and 110.2 DCR. Locked amount was 4.02–4.18 million DCR, which corresponded to 45.9–47.2% of the available supply.After the price dropped to 96.7, 1,378 tickets were purchased in a single window that bumped the price to 110.2 after 9 subsequent price increases. This is the new all time high on the new sdiff algorithm that has been in effect since July 2017.@permabull nino shared a few more charts showing an uptick in deposited DCR.Nodes: as of Dec 1 there are 204 public listening nodes and 332 normal nodes per dcred.eu. Version distribution: 6.5% are v1.4.0(pre) dev builds (+0.5%), 50% on v1.3.0 (+5%), 25% on v1.2.0 (-3%), 11% on v1.1.2 (-3%), 5% on v1.1.0.MiningObelisk began producing Batch 2–5 units and expects to begin shipping in early December, after that it will take ~4 weeks to fulfill all orders. On Dec 4 they announced several new offers: SC1 hashing boards can be purchased and installed into DCR1 units, DCR1 can be converted to Batch 6 SC1 or sold back to Obelisk. The details are in the newsletter post.The Whatsminer D1 turned out to be 48 TH/s, 9% up from expected 44 TH/s. The price was bumped by $350 to $4,850 from Pangolin. MicroBT’s price changes and shipment delay were handled differently by resellers and drew varied opinions from the community about best practices.Bitmain announced the Decred Antminer DR5 with 34 TH/s at 1800 W, price CNY 19,000 (USD 2,750) and shipping late December. European importers of the DR5 are listing tentative availability the week of Dec 21 and prices ranging from USD 3,299 to EUR 3,291 (USD 3,724).Video review of Obelisk DCR1 was published on youtube. Photos of innovative Canadian cooling leaked in chat.Luxor pool announced a 3–5% hashrate boost for Decred miners.IntegrationsNew VSPs:decred.staked.us with 5% fee. Staked is a company that provides staking services for multiple cryptocurrencies and has recently published a guide on how to stake Decred using their VSP.dcrpool.dittrex.com with 1% fee.Exchange integrations:Bitqist announced Decred integration on r/decred. The exchange is based in the Netherlands. @Haon reported that withdrawals work but deposits are not possible.Kaiserex officially launched an OTC desk after being involved in OTC trading since 2015. DCR is one of the supported cryptocurrencies, on the fiat side are USD, EUR, GPB and JPY. Min. trade size is EUR 50,000 and the fees are 0.05–1%DragonEx added the DCR/BTC trading pair.AdoptionUK holiday shoppers have another option to spend Decred this season. MonetaryUnit announced that DCR is accepted on Flubit, a UK marketplace they acquired in the summer. Some insights from the blog post: Flubit is a 8 year-old eCommerce company that served over 3 million shoppers last year, the cryptocurrency integration is seamless for the merchants.Coinstop, Australian reseller of Trezor, Ledger and KeepKey devices, now accepts DCR.OutreachOutreach for the month of November was mostly of the planning variety, though many local meetups did take place across the world, including important events in Melbourne and Ho Chi Minh City. @eSizeDave and @joshuam are doing a great job spreading Decred in Asia Pacific.@Dustorf released an extensive blog detailing the process of Ditto’s proposal approval from preliminary vetting, to proposal discussion and voting, to the next steps in planning and executing. The blog received a ton of pre-release feedback in #marketing showing the power and skill of our writers. Much work was done aggregating data to upload and share with the Ditto team so we can hit the ground running in December. @Dustorf had an onboarding call on Monday, Dec 3, and he and @jy-p plan to meet with Ditto in person later that week.Per @Dustorf’s blog, the initial focus will be on gaining community alignment on positioning and messaging, then rolling that into some web updates while also planning for 2019 execution of the communications strategy. Ditto will engage publicly on Matrix in #marketing, and sensitive information will be reserved for a new Matrix room called “Ditto PR”. If you think you can help and would like to be invited to this room, please reach out to @jz or @Dustorf to be added.December will be a month of planning, and @jy-p will present “Applications of Blockchain Timestamping” at The North American Bitcoin Conference in Miami, USA on Jan 16–18. Other events will likely be confirmed the first week of December and will be made public in #marketing.Besides planning mid and long term strategy our PR will also act on current opportunities, as explained in #marketing.@Haon started a discussion on Reddit about what to expect from the Ditto partnership and shared thoughts based on his experience with the Decred community and collaboration with the previous PR firm (PRWithBrains).EventsAttended:Training and planning session by Raedah Group in Portland, USA. (photo)Web Summit in Lisbon, Portugal. Was a very busy event and a lot of people approached Decred’s booth. @moo31337 introduced Decred to Portugal’s prime minister Antonio Costa. @vj and @jholdstock published a report here. @karamble, who “did a good job of using baby and grown up stakey to illustrate ticket stages” posted more notes here regarding the proliferation of private blockchain companies. (photos: 1 2 3 4 5 compo, videos below)PDX Blockchain Summit & Hackathon in Portland, USA. Raedah Group presented Decentralized Governance in Decred. (photos: 1 2)Token Forum in Seattle, USA. @oregonisaac presented on Decred and Blockchain Governance. @Eli-RG noted that the talk was a big success with lots of feedback coming in like: “most interesting talk of the day” and “you’ve opened my eyes” or, as one of the organizers put it: “He’s…great!!!!”. More notes from @oregonisaac here. (photo)Blockmaster in Sao Palo, Brazil. @Rhama presented Decred and Politeia. (photos: 1 2)FinTech Melbourne Community Networking in Melbourne, Australia. @eSizeDave reports: “It was a great turnout especially considering only a week to promote on MeetUp. People were happy and many asked if we’d hold this event more regularly, which is of course our plan. We had people there from financial institutions, FinTech regulatory analysis and advocacy professionals, startups, and also other blockchain projects. Two data scientists from ANZ Bank told me they’d proactively googled for such an event and coincidentally found it, having not already being FinTech Melbourne MeetUp group members. So I guess it goes to show there’s demand for such events. This was a good outcome, so we’ll be putting in more effort into the next FinTech focused event.”. See also a follow-up discussion about why to focus on “fintech” when it is an industry that Decred is supposed to disrupt. (photos: 1 2)BlockchainFiesta in Krakow, Poland. @kozel and @donmario gave an interview to FXMag that will be published later. Excerpt from the full report: “Some of the conference speakers that we engaged with were well impressed with Decred’s forethought and the ‘build first, hype second’ ethos”. (TV news coverage, photos: album)Blockchain Melbourne in Melbourne, Australia. @eSizeDave introduced Decred, followed by two presenters from Apollo Capital. They first introduced their services and talked about how they do project analysis and due diligence, with an emphasis on the points where Decred checks the boxes, then spoke specifically about Decred. From the notes: “A great well-educated crowd. Quite surprised we got such a good crowd for investment analysis, with only about 1.5 weeks promotion, plus a bloodbath hash war market.” and “It should be noted that the bulk of the credit goes to @Zohand here as he has a longer standing relationship with Apollo Capital.”. Announcement discussion is here, post-event notes with more insights are here and here. (photos)Lessons from DevCon4 & Web3 Summit in Melbourne, Australia. From @eSizeDave: “the event is held at the RMIT Blockchain Innovation Hub. The Royal Melbourne Institute of Technology (RMIT) is a university in Melbourne and the first in Australia to establish its own dedicated blockchain innovation hub as part of its School of Economics. (…) The official organizers have recently returned from Devcon in Prague, and will present on lessons learnt from the conference. They attended our event on Nov 20 and asked us and Apollo Capital to present on Decred, and specifically Politeia.”. The event was mostly Ethereum people, but the Politeia presentation by James from Apollo Capital seemed to go well. (photos)Dinner with Decred in Ho Chi Minh City, Vietnam. @joshuam introduced Decred. The organizers (@BitcoinSaigon) then noted: “Some very interesting and fundamental conversations around the essence, importance and viability of decentralized systems were sparked last night. Very refreshing discussions in a time where marketing fluff seems to rule over substance in the space.” (photos: 1 2)Upcoming:The North American Bitcoin Conference in Miami, USA on Jan 16–18. @jy-p will give a 15 minute presentation on the main stage on Politeia. He’ll also explore a wide variety of applications that could utilize Politeia, including cryptocurrency, corporate, and governmental. Examples include tokens, record keeping and voting systems. Decred will also have a 10’x8’ exhibit booth, so we’ll need to put a team together. We’re looking for community members to join us to work the show. Please message @Dustorf if you’re interested.Campus Party in Sao Paulo, Brazil on Feb 12–17. Decred will have speakers and an exclusive area for hackathons.Jalisco Talent Land in Guadalajara, Mexico on Apr 22–26. Decred will have a 3x3 m booth with 10 conference passes. @elian will present an overview of Decred (45 min) with Q&A (15 min), plus there will be a two hour breakout session where we’ll walk through How to Use Decrediton, Staking Process, Lifescycle of a Ticket, and How to Use Politeia. Contact @elian if you’re interested in helping/attending.@jz posted guidelines on representing Decred at conferences.Part of the Web Summit crew and a random astronautMediaArticles:Blockchain forks and chain splits: why we should avoid them by @Haon (medium, missed in Oct issue)Marco Peereboom Interview: Governance, Decred & Politeia (coinbureau.com)Decred Infrastructure Interviews: feeleep, Operator, coinmine.pl (medium, also in Polish)PR in Politeia: Process, Progress, and Pitching In by @Dustorf (medium)Blockchain governance: how Decred iterates upon Bitcoin by @zubairzia0 (medium)DCR Ticket Splitting — All you need to know! by @David (medium, reddit)Hash War Theater: A Costly Spectacle by @richardred (medium)What is Decred? by @kozel (Polish, bithub.pl)Decred Review — Democratic Governance Puts Users in Control (coiniq.com)Smaller PoW coins are in constant danger of 51% attacks — Decred governance model is the solution (captainaltcoin.com)Decred Ticket Splitting by @guang (Chinese, medium)More articles on various websites were published, but we only listed a selected few. The decred-media-tracker project is intended to track all articles.Translations:Blockchain governance: how Decred iterates upon Bitcoin by @zubairzia0 — in Chinese by @guangDecred: Where did it all begin? by @thedecreddigest — in Spanish by @elianDecred Recruiting by @jy-p — in Spanish by @elianPoliteia in Production by @jy-p — in Portuguese by @mmDecred Journal — October 2018 in Russian and in Italian by @DZ. This is epic work, October issue was 53 kilobytes of text, 1.5x larger than previous record.Videos:Several videos were added to Decred’s Texas Bitcoin Conference playlist which now has 18 videos. All 52 videos from the event are in this playlist.@moo31337 gave an extended interview with Paul Snow after the Texas Bitcoin Conference discussing the behind the scenes history of Decred and other open source projects.Videos with @moo31337 from Web Summit: Investing in Crypto, Is crypto here to stay?.Crypto with Chingas interviewed @joshuam about the importance of dispute resolution in a decentralized project.@michae2xl produced new Decred Weekly episodes and an interview with @Tiago Alves and @fernandoabolafio about Politeia. Find these and past videos in Portuguese on Decred Brazil channel.Standard & Consensus rated Decred C+. The original report is in Chinese and @guang wrote a review of it in Chinese also. The weak aspects noted by the report are low social media activity, low trading volume and high liquidity risk. The strong aspects are hybrid PoW+PoS system that balances holders, miners and developers, experienced development team and better sovereignty of the community enabled by voting systems.Community DiscussionsCommunity stats as of Dec 1:Twitter followers 40,004 (-1598)Reddit subscribers 9,131 (+147)Matrix users 203 (+10)Slack users 6,353 (+82)Telegram users 4,642 (+213)YouTube subscribers 3,736 (+10)Facebook 3,105 (+20) followers and 2,867 (+18) likesLinkedIn followers: Decred Page 433 (+27), Politeia page 20 (+8)GitHub 447 (+17) stars and 1,159 (+41) forks of dcrd repositoryComm systems news:New #research room was created to work on projects for Open Source Research Proposal.Bridge interruptions led to some messages not being delivered from Slack to Matrix.A new subreddit was started to overcome the disturbing development of censorship of r/decred, discussion here. (bee: yes I’m trolling)Two new rules added to r/decred: “One Price Thread at a Time” and “No Enticing”. Motivation explained in this post.Still looking for more Discord mods and someone to implement spam resistance.There was a phishing attempt to scam MyEtherWallet users. Stay vigilant!Twitter: a poll on whether open Politeia voting is a good process, more of the beloved plutocracy thing; on-chain governance blockchains are not the same, Decred vs Tezos governance systems.Reddit: whether DCR whales are good or bad for Decred; investing using Treasury funds and conflicts of interest; Politeia hub-and-spoke model for private torrent trackers; trusting hardware wallets; how many atomic swaps were made.Chat index was omitted from this issue. The plan is to replace it with a live collaborative document.MarketsThe crypto market saw a $70 billion drop in November with most of the top 100 assets by marketcap losing 30% to 60% of USD value. Bitcoin established an aggregated low at $3,606 after dropping from its monthly high of $6,540 making a total 45% peak-bottom spread. Between Nov 14–15 most top 100 assets lost 10–20% USD value in a single day — one day before the infamous BCH split. Forbes and Bloomberg attributed the BTC dump to the Bitcoin Cash fork, the latter citing fear, uncertainty and doubt of some guys. At the end of the month both coins emerged from the fork as sustained new chains but together the price is 40% less than pre-fork lows. Others like Yahoo Finance attribute the SEC rulings about ICOs to the drop.Decred was not immune to the market movement and saw a drop from $40 to $19.8 at end of month.Relevant ExternalNvidia reported a drop in GPU sales for mining. This must have nothing to do with Ethereum, Zcash and others receiving ASICs for their GPU-oriented mining algorithms, but rather “it is really the canary in the coal mine for Bitcoin and other cryptocurrencies” per the experts. Seriously guys, it is the collapse of cryptocurrency mining.New study of Bitcoin mining gives some breakeven and mining cost estimates and suggests that some miners are shutting down equipment. Another interesting finding is that nearly 80% of energy used comes from renewables.A paper was published in Nature Climate journal that suggests Bitcoin PoW mining will have significant negative impact on climate change. Discussion in #random noted serious misunderstandings of how PoW works and alarmingly low quality of the paper, along with some guesses about why it was published.Ethereum Foundation is funding efforts to create ASICs that compute Verifiable Delay Function (VDF) as a replacement for Proof-of-Work mining for blockchain security. This article compares VDF and Proof-of-Work.Zcash approved funding of ProgPoW prototype for Zcash. This ASIC-resistant, GPU-friendly algorithm was also proposed on Politeia recently.Zcash is looking into hybrid ASIC-GPU mining, among other improvements planned for next year’s protocol upgrade.According to this thread, yet another coin with claimed ASIC resistance received an ASIC, while the developers removed ASIC resistance claims from the website. Reddit thread that questioned this was wiped out. An instance where transparent censorship could be useful. (missed in Oct issue)A new core library written in Rust was released for Bitcoin Cash. This adds to existing rust-bitcoin, parity-bitcoin and bitcrust. Rust is another modern language besides Go that aims for safety and performance. It’s nice to see this software emerging since it may be useful for Decred, which is open to multiple implementations.Bitcoin Cash, born as a solution to the long-running Bitcoin scaling debate, itself had a contentious hard fork this month. This article has a good summary of what the fork was about. The sides came to be referred to by their dominant software implementation, Bitcoin ABC and Bitcoin Satoshi’s Vision. BCH ABC was planning a hard fork to add canonical transaction ordering and a new OP code — BCH SV rejects these changes and plans instead to return to a set of rules based on Bitcoin version 0.1.0.Miners and oracles seemed to be split relatively evenly between the two sides, with Roger Ver and Jihan Wu on the ABC side and Craig S Wright and Calvin Ayre on the BCH SV side. This contentious hard fork was even more contentious than most, as the BCH SV side announced that they would nullify the replay protection added by ABC (another good article about the run-up to the fork). SV actually planned to mitigate ABC’s replay protection by allowing miners to collect any BCH transferred using the new ABC OP codes — so that the use of these new features would result in the loss of BCH on the SV chain. There were also threats to attack the ABC chain and kill it, or make it unusable for long periods, should the SV chain have sufficient hashpower.This post on r/btc compiled a list of resources for following the fork as it played out. The cash.coin.dance site has a number of tools for keeping track of the fork in real-time. This article has a good report from 24 hours after the fork. @richardred has written a short perspective on this Hash War Theatre also. On Nov 26 the SV side backed off and declared that the hash war was over, they would allow both chains to co-exist in peace. With both chains seemingly being allowed to co-exist by the balance of mining power, it seems like the costs in this case are to be expressed primarily in terms of community fragmentation and aggravation. The BCH holder community in this case did not really have a role to play or way to affect the outcome, it was one for the miners to hash out.Feels good to have Decred tickets that can be used to prevent sustained contentious chain splits, and to punish miners who turn the chain into a vehicle for their own power plays, should that ever become a problem.This month also saw the launch of SharkPool, a startup which aims to attack other Bitcoin forked chains by mining empty blocks and selling the profits for BCH.There appears to be some drama in the RChain community, involving people being laid off and a possible fork. It is difficult to find any sources about this beyond this blog post. This is not the first internal conflict for RChain, since it itself was born out of a disagreement inside Synereo project which has led to a split in the past (discussion)Looking at all the fighting in other communities I (@bee) can’t help but insert a personal comment. It appears to me that communities waste a ton of energy on all the controversies. This energy is not building value. Chain splits and community splits leave both sides with less people, less talent, and less chances to make any long term impact. It is ironic that in a space of programmed decentralized consensus systems so many people fail to achieve human consensus. Decred manages to keep moving at its decent speed because it avoids external, and more importantly, internal conflicts. Let us keep incentives aligned and keep the community together.Aragon released a new version on Oct 30 which allows users to create organizations on the Ethereum mainnet. Prior to this, 15,000+ organizations had apparently been created through previous versions on Ethereum testnets. Aragon can be used to create an “organization”, add members and assign them tokens, and then hold signal votes with those tokens. The community also recently voted overwhelmingly (99.97%!) to approve AGP-1, a Governance Proposal Process.The NavCoin community fund was launched on Nov 16. NavCoin’s community fund operates on “dual-vote consensus”, with an initial vote to decide if a proposal is approved or not, and then a subsequent vote to determine whether the payout should be made (after the work is done). Voters are participants in NavCoin staking, and vote with the weight of their stake. The community fund receives 0.25 NAV from each block minted, 500K NAV per year, or around $93K at today’s prices. Proposal voting lasts for one week and requires participation of 50% of stakers, with 70% approval required for acceptance.UK government canceled a stablecoin project based on a fork of btcd. @alexbosworth noted: “The thing about stablecoins is that one day someone can come along and cancel the whole thing.”.DEX news: IDEX decided to implement IP blocking and KYC, SEC charged EtherDelta founder with operating an unregistered exchange.Listing on Coinbase does not always result in a pump.Unchained podcast episode discusses “why ICOs are down 90% since the winter, why airdrops could be a better than ICOs for seeding usage on networks, whether or not they’re legal and which wallets to target.” (non-itunes link).Bitfinex abandons the 1:1 conversion between USD and USDT while Tether.to reopens verifications and direct USDT withdrawals, min. $100,000 USD.Security news: Seven new Spectre and Meltdown attacks were revealed that impact Intel, AMD and ARM CPUs to various degrees. This is following a new Intel Hyper-Threading vulnerability discovered earlier same month. These revelations continue to show that we need safer and more open hardware to run our cryptocurrencies.SMS, and relying on mobile operators in general, shown to be a bad choice for 2FA. In this recent incident, a server not even protected with a password leaked millions of SMS messages containing 2FA codes, password resets and other sensitive information nearly in real-time. In another case, lawsuits like this will hopefully push cellular providers to improve security, but they won’t get your coins back. Speaking even more generally, most smartphones have a baseband chip and other proprietary parts — nobody really knows what they are doing or how vulnerable they are.Headphone software was caught installing a root certificate that can potentially be abused to impersonate websites.Copay wallet was infected with malware to steal cryptocurrency. If you used this wallet or one derived from it, you may need to move your coins to a new seed. This coverage includes details like affected software and versions. The cause was repository compromise of one of the npm dependencies. No known Decred software was affected.Quite a lot of security troubles this month, but hopefully these warnings will help to educate and keep your coins safe.About This IssueChinese translation by @guang is available on Medium and GitHub.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 and contributions are welcome on Reddit, GitHub and Matrix.Credits (alphabetical order): bee, degeri, guang, Haon, kozel, oregonisaac, richardred, zubairzia0.Decred Journal - November 2018 was originally published in Decred on Medium, where people are continuing the conversation by highlighting and responding to this story.

Decred

18. 12. 08

DCR Ticket Splitting — All ...

DCR Ticket Splitting — All you need to know!Decred Ticket Splitting OverviewDid you know you can still participate in Decred’s unique PoS voting process without purchasing a full PoS ticket? I have previously made announcements on Reddit, but with this post, I hope to outline the ticket splitting process a bit more than in previous posts. Ideally, this will help newcomers break the ice and enhance their understanding of the process.This is not a technical breakdown and I am not the developer of the ticket splitting software — however, I operate a Voting Service Provider called Decred Voting and I’ve been helping users get setup with ticket splitting for several months now, as well as coordinating and contributing to split ticket sessions. A simple definition of ticket splitting:Ticket splitting allows multiple DCR holders to join together and contribute their DCR in a trustless manner towards the purchase of a single full proof-of-stake ticket.SessionsWhen DCR holders join together to purchase a ticket, it is called a “session”. Sessions are currently required to have a name. Therefore, those who wish to participate in ticket splitting must have a way of coordinating the session name — this is currently done on Decred’s Slack group in the #ticket_splitting channel, or in the Telegram group located here. You can coordinate a session anywhere you like, but you may have better luck finding other participants in the aforementioned platforms. Anyone can create a session at any time*, and it will exist until all participants leave the session, or until it has enough DCR to execute the purchase of a ticket. Participants cannot see any information about other participants — only the amount the other participants have pledged. During this phase of the session, users are required to keep both their wallet and the split ticket buyer program online.*Note = Session creation is restricted when the ticket price is +/- 5 blocks away from changing.Voting Service Providers (VSP) — formerly referred to as Stake Pools — assume the responsibility for ensuring all participants in a session submit valid addresses, and the VSP will vote for the ticket when it is randomly chosen by the DCR network.Process OverviewIn the early phases of a session, when there is not enough total DCR to purchase a ticket, participants are simply “pledging” that they are available to contribute X amount of DCR towards this split. Participants can join and leave the session as they please, but the instant that the total session contributions are equal to (or exceed) the cost of the ticket, the session will mature into the final stage and the ticket will be purchased. It is at this instant that participants’ pledges turn into actual commitments, and each users’ committed DCR is now locked in exchange for a portion of the ticket — just as it is with full ticket purchasing. All participants are now subject to the Proof-of-Stake ticket lifecycle, which you can read more about here.How Voting Works with Split TicketsThe main idea surrounding PoS tickets is to voice your opinion on Decred Change Proposals (DCPs), Politeia proposals, and the security of Decred’s blockchain. With full tickets, the voting mechanism is simple: 1 ticket = 1 vote for each of the aforementioned items. With split tickets, a bit of complexity is added. The ticket still only counts for 1 vote, so which participant gets it?Voting for DCPs and block validity (on-chain voting)When it comes to selecting the voter for DCPs and previous block validity, the equivalent of a raffle is held while the split ticket transaction is being created. Participants in a ticket splitting session who contribute more DCR have a higher chance to win the voting rights towards DCPs. As is the case with any probabilistic system, the participant who contributes the most DCR is the most likely to win the voting rights for the ticket, but it’s not always the case. I have personally seen numerous times where a user who contributed 5 DCR won the voting rights over the only other participant in a session who contributed 95+ DCR.Using session names to separate participants that disagree on DCPs is one way to keep interests aligned. There aren’t currently any active or upcoming DCPs, so this is not a concern. However, when the time comes for a new DCP, you may want to be strategic with whom you share your session name to.Voting for Politeia Proposals (off-chain voting)At the time of this writing, the participant who contributes the most DCR in a split session will automatically win the Politeia voting rights.Proof-of-Stake Participation CompensationJust as owners of full tickets get rewarded for casting their vote, split ticket participants are also rewarded for their participation when their split ticket votes. A PoS vote reward for a single ticket is currently 1.1725 DCR. As a participant in a split ticket, you will receive a piece of that reward that is proportional to the amount you contributed towards the purchase of the split ticket. If you contributed 20 DCR towards the purchase of a 100 DCR ticket, you will receive 20% of the reward, which is approximately 0.2345 DCR at the time of writing.Miscellaneous (but Important) InformationTicket splitting is currently in beta form. This essentially means there are still some minor issues that need to be worked out. I have personally contributed to over 50 split ticket sessions on mainnet without any issues (and many, many more split ticket sessions on testnet). The biggest problem that currently exists is the way Decrediton interprets your DCR balances and active tickets when you participate in split tickets. For this reason, it is suggested that you create a separate wallet to use exclusively for split ticket sessions.The ticket splitting utility is an open source program that connects to your DCR wallet. It is extremely important that you only download the executable files from the developer’s (Matheus Degiovani) Github. Do not accept executable files from anyone you don’t know or trust.VSP List & Risk AcknowledgementTechnical Documentation (Voter Selection)Technical Documentation (General Overview)Setup InstructionsAs previously mentioned, I operate the Decred Voting VSP. My voting infrastructure currently has several nodes throughout USA and one in central Europe. My service will automatically notify you via email when your tickets (full and split) vote. I’m also in the final stages of testing automated purchase notifications (for full and split tickets), so you’ll receive a confirmation email when you purchase a ticket via my service (especially useful for split tickets). If you appreciated this post and are interested in participating in ticket splitting, I’d love to have you on board (setup instructions here). If you need any help, join the ticket splitting channels on Slack or Telegram.DCR Ticket Splitting — All you need to know! was originally published in Decred on Medium, where people are continuing the conversation by highlighting and responding to this story.

Decred

18. 11. 18

DCR Ticket Splitting — All ...

DCR Ticket Splitting — All you need to know!Decred Ticket Splitting OverviewDid you know you can still participate in Decred’s unique PoS voting process without purchasing a full PoS ticket? I have previously made announcements on Reddit, but with this post, I hope to outline the ticket splitting process a bit more than in previous posts. Ideally, this will help newcomers break the ice and enhance their understanding of the process.This is not a technical breakdown and I am not the developer of the ticket splitting software — however, I operate a Voting Service Provider called Decred Voting and I’ve been helping users get setup with ticket splitting for several months now, as well as coordinating and contributing to split ticket sessions. A simple definition of ticket splitting:Ticket splitting allows multiple DCR holders to join together and contribute their DCR in a trustless manner towards the purchase of a single full proof-of-stake ticket.SessionsWhen DCR holders join together to purchase a ticket, it is called a “session”. Sessions are currently required to have a name. Therefore, those who wish to participate in ticket splitting must have a way of coordinating the session name — this is currently done on Decred’s Slack group in the #ticket_splitting channel, or in the Telegram group located here. You can coordinate a session anywhere you like, but you may have better luck finding other participants in the aforementioned platforms. Anyone can create a session at any time*, and it will exist until all participants leave the session, or until it has enough DCR to execute the purchase of a ticket. Participants cannot see any information about other participants — only the amount the other participants have pledged. During this phase of the session, users are required to keep both their wallet and the split ticket buyer program online.*Note = Session creation is restricted when the ticket price is +/- 5 blocks away from changing.Voting Service Providers (VSP) — formerly referred to as Stake Pools — assume the responsibility for ensuring all participants in a session submit valid addresses, and the VSP will vote for the ticket when it is randomly chosen by the DCR network.Process OverviewIn the early phases of a session, when there is not enough total DCR to purchase a ticket, participants are simply “pledging” that they are available to contribute X amount of DCR towards this split. Participants can join and leave the session as they please, but the instant that the total session contributions are equal to (or exceed) the cost of the ticket, the session will mature into the final stage and the ticket will be purchased. It is at this instant that participants’ pledges turn into actual commitments, and each users’ committed DCR is now locked in exchange for a portion of the ticket — just as it is with full ticket purchasing. All participants are now subject to the Proof-of-Stake ticket lifecycle, which you can read more about here.How Voting Works with Split TicketsThe main idea surrounding PoS tickets is to voice your opinion on Decred Change Proposals (DCPs), Politeia proposals, and the security of Decred’s blockchain. With full tickets, the voting mechanism is simple: 1 ticket = 1 vote for each of the aforementioned items. With split tickets, a bit of complexity is added. The ticket still only counts for 1 vote, so which participant gets it?Voting for DCPs and block validity (on-chain voting)When it comes to selecting the voter for DCPs and previous block validity, the equivalent of a raffle is held while the split ticket transaction is being created. Participants in a ticket splitting session who contribute more DCR have a higher chance to win the voting rights towards DCPs. As is the case with any probabilistic system, the participant who contributes the most DCR is the most likely to win the voting rights for the ticket, but it’s not always the case. I have personally seen numerous times where a user who contributed 5 DCR won the voting rights over the only other participant in a session who contributed 95+ DCR.Using session names to separate participants that disagree on DCPs is one way to keep interests aligned. There aren’t currently any active or upcoming DCPs, so this is not a concern. However, when the time comes for a new DCP, you may want to be strategic with whom you share your session name to.Voting for Politeia Proposals (off-chain voting)At the time of this writing, the participant who contributes the most DCR in a split session will automatically win the Politeia voting rights.Proof-of-Stake Participation CompensationJust as owners of full tickets get rewarded for casting their vote, split ticket participants are also rewarded for their participation when their split ticket votes. A PoS vote reward for a single ticket is currently 1.1725 DCR. As a participant in a split ticket, you will receive a piece of that reward that is proportional to the amount you contributed towards the purchase of the split ticket. If you contributed 20 DCR towards the purchase of a 100 DCR ticket, you will receive 20% of the reward, which is approximately 0.2345 DCR at the time of writing.Miscellaneous (but Important) InformationTicket splitting is currently in beta form. This essentially means there are still some minor issues that need to be worked out. I have personally contributed to over 50 split ticket sessions on mainnet without any issues (and many, many more split ticket sessions on testnet). The biggest problem that currently exists is the way Decrediton interprets your DCR balances and active tickets when you participate in split tickets. For this reason, it is suggested that you create a separate wallet to use exclusively for split ticket sessions.The ticket splitting utility is an open source program that connects to your DCR wallet. It is extremely important that you only download the executable files from the developer’s (Matheus Degiovani) Github. Do not accept executable files from anyone you don’t know or trust.VSP List & Risk AcknowledgementTechnical Documentation (Voter Selection)Technical Documentation (General Overview)Setup InstructionsAs previously mentioned, I operate the Decred Voting VSP. My voting infrastructure currently has several nodes throughout USA and one in central Europe. My service will automatically notify you via email when your tickets (full and split) vote. I’m also in the final stages of testing automated purchase notifications (for full and split tickets), so you’ll receive a confirmation email when you purchase a ticket via my service (especially useful for split tickets). If you appreciated this post and are interested in participating in ticket splitting, I’d love to have you on board (setup instructions here). If you need any help, join the ticket splitting channels on Slack or Telegram.DCR Ticket Splitting — All you need to know! was originally published in Decred on Medium, where people are continuing the conversation by highlighting and responding to this story.

Decred

18. 11. 18

PR in Politeia: Process, Pr...

Photo by SpaceX on UnsplashOctober marked a landmark for Decred: the launch of Politeia, its policy and budgetary proposal system. In the first week, six proposals were introduced, which the Decred community actively debated and voted upon. Voter participation topped 50%, a greater rate than we saw in the U.S. midterm elections. In the first round of proposals, the Decred community overwhelmingly passed an open research project that will enable investments of time into areas that would have otherwise been unlikely to find funding, as well a proposal for nomenclature changes to ticket voting.However, for this blog post, my focus will be two public relations (PR) proposals, one which was voted down, and one which passed by a narrow margin. With voting complete, I’ll take this opportunity to communicate to the Decred community why I believe we need a PR partner right now, and also explain the process that resulted in the submission of the two proposals in Politeia. Hint: they didn’t randomly show up on the date of launch. Additionally, I’ll reflect on what I saw of Politeia in action, detail some refinements we can make, then explain the next steps in the marketing and PR process and how you can contribute.Why We Need a PR PartnerDecred is an amazing project with a unique story. Developers with real chops self-funded and rolled up their sleeves for two years, then launched the coin via airdrop. The concept of a better Bitcoin, one with less conflicts of interest, one with governance, and one that is truly decentralized, resonated with an audience and spawned an impassioned global community.Tanel August Lind and Sander Meentalo at Eeter developed Brand icons and a website, Kyle Chivers developed videos, Decred Jesus was born. Decred began appearing at conferences and events across the U.S and around the world; the Decred Jacket became a legend. The community grew organically, the price of Decred took off, and investment came from institutions like Placeholder VC and Blueyard Capital.Of course, these events were driven by the continued development of Decred. Decred has now taken the first two steps towards becoming a Decentralized Autonomous Entity through the implementation of consensus voting and the public proposal system, backed by Politeia. Decred also created tools to perform on-chain atomic swaps and added SPV wallet support.In the midst of the first version of Politeia, and with privacy enhancements and Lightning Network implementation forthcoming, I believe the time is right for Decred to take the next steps to communicate to the world just how far we’ve come in order to expand the community of contributors and developers. We will need a dramatically larger community and user base to grow the project by one or more orders of magnitude. We must take active, larger scale measures.The returns to community development are increasing. The more outreach we do, the more we’ll be able to grow the community, and a larger autonomous community means even more events, users, and developers. It’s a virtuous cycle we need to prime now. Crypto is new and exciting and Decred is funded for the long term, but there is a chance it loses relevance if it doesn’t grow significantly to reflect the quality of the project.This does not mean compromising our core principles. On the contrary, it means building upon our core principles, affirming those principles, messaging from them, and amplifying them in order to attract more of what we call “smart money” so we can continue to strengthen our project.The goal of Decred is to build our collective intelligence, and to do that, we need to attract the right stakeholders. We want community members who value their sovereignty, act as a fiduciary of the project, and propose and execute initiatives that will best build the cryptocurrency and its applications. Our treasury is currently worth roughly USD 20 million, but it could be worth USD 2 million or USD 200 million.The right PR firm will help achieve our communications goals, as well as protect and grow our Treasury. The firms that submitted proposals in Politeia have the experience, discipline, and domain expertise to get us quality media placements to increase awareness of Decred and generate more interest.Many people have commented positively about Decred’s presence at events — they’re certainly a forum around which to rally and build the community. These typically cost USD 50–100k per large scale event. Given the scale of investment, it makes sense to be more confident we’re attending the right events, planning them intelligently to coordinate speaking opportunities, and then optimizing our presence through media training and media outreach to schedule interviews for Decred community members on the right topics with the right media outlets. This requires real experience, full time attention, and active management. The right partner will know which events are the best fit, and they might even bring negotiating leverage through their roster of clients.Section I: What HappenedMy involvement with Decred began with discovery work: a user survey, key stakeholder questionnaire, and a competitive analysis. Through those efforts, I formulated proposals for positioning and messaging, but have yet to share them with the community. When the former events manager left the project, Jake Yocom-Piatt asked that I assume responsibility for planning events, of which two were already in the works.When I discovered that hundreds of events take place each year across the world, I queried key members of the Decred team to see if there was consensus on which ones to attend, what form our presence should take, and what metrics could be used to make attendance decisions. There was no consensus on any of these questions, so I considered external resources who would have specific expertise in these areas. Given the plan to bring on a PR partner, I postponed the positioning and messaging work until they started in order to gain their alignment.I began the search for a PR firm by casting a wide net, reviewing in depth more than forty firms that fit into three categories: bulge bracket, B2B with fintech expertise, and pure play crypto firms. I quickly determined that only a pure play crypto firm would work because of their centrality. Decred exists deep in the cryptoverse, and it would have taken an outside firm the majority of a year simply to understand Decred, let alone be effective with media placements and messaging. Crypto-specific PR firms come with a solid base of knowledge, as well as a strong list of media contacts and event experience in the space.With the focus on pure play crypto firms, three main issues immediately made themselves apparent. First, due to the newness of cryptocurrencies, few firms exist today. As an offshoot of the narrowness of the market, most of the firms under consideration worked with or had worked with coins that we would consider to be competition. Finally, due to the nature of the 2017 market, the majority of the firms had focused extensively on supporting ICOs and other projects that run counter to the Decred ethos. After reviewing more than a dozen crypto specific firms and phone screening six, I narrowed the focus to two: Wachsman and Ditto PR.To comment briefly on the aforementioned issues, Wachsman had handled many ICOs, and they perform ongoing work for DASH, a project that focuses on governance and has a similar autonomous treasury. Given the different positioning of Decred (Autonomous Digital Currency) and DASH (Digital Cash), I was not concerned with conflicts of interest. Decred focuses on attracting sophisticated, active users, whereas DASH focuses on simplifying usability and maximizing transactional use. I don’t believe there is much overlap in the user segments. Regardless, Wachsman explained that they employ a team of 110 people, that there would be no team member overlap, and that there would be an internal firewall preventing information from crossing lanes. Additionally, Wachsman immediately took to the Decred project and its ethos, expressing familiarity and enthusiasm for the process.Ditto had fewer issues than Wachsman. They had done work with Riccardo Spagni (fluffypony) for Monero, which is a project the Decred community tends to respect and appreciate. They also had a smaller team and a less global footprint.With the search reduced to Wachsman and Ditto, I invited key members of the Decred strategy, marketing, writing, design, and operations teams into the vetting process. At this point, I was informed that the Politeia launch was imminent and that a press release document had already been drafted. I took the internal work the Decred team had performed and asked that both Wachsman and Ditto PR review and edit the document, and also recommend a release strategy. This was an opportunity to see the teams in action, understand how they think and work, gauge the quality of their ideas, and judge their fit with Decred. Both teams agreed to perform this work without compensation.Within days, both shops presented their recommendations to our expanded team, then responded to our subsequent questions. Their work markedly improved our press release and informed our release strategy. The release of Politeia was picked up in several influential trade publications, and blogs were released by Jake Yocom-Piatt, Richard Red, and Dustin LeFebvre.As for a decision, we could not come to a consensus of which firm would be better, for they each brought different advantages. We did, however, all agree that both firms were qualified and would be a good fit for Decred. At this point, Richard Red suggested that we wait for Politeia and have both firms submit proposals there. Everyone wondered why they hadn’t thought of that idea, and we were off. I communicated plans for the next step in the process with the agencies and coordinated proposal submissions.Politeia in ActionYou don’t know whether an airplane will fly until it takes off for the first time, and eighteen months of development left many of us full of anticipation intermixed with nerves. Both Wachsman and Ditto downloaded Decrediton wallets, acquired decred, paid the proposal fee and submitted their proposals. The community exploded with comments, constructive criticism, and a vibrant discussion about the need for a PR firm and the appropriate scope of work. Discussions took place in Politeia, on Reddit, on social media, and in a room called #proposals that was created in Matrix.The online community seemed to coalesce around certain questions such as the denomination of payment, monthly cost, and the ability to apply metrics to each firm’s efforts. Wachsman and Ditto both actively participated in the discussion, sharing their stories, references, and answering questions about their proposals, services, and teams. Wachsman came out from the start and enthusiastically asked to be compensated in decred, whereas Ditto requested a combination of decred and USD weighted towards USD. The community was searing in their condemnation of that request and did not hold back with their comments. By my estimate, the battle looked to be over for Ditto.However, reviewing the discussion in the proposal room in Matrix and in Reddit, Ditto listened and revised their proposal to integrate feedback and direction they had received from the community. The collective intelligence of Decred was working and the process was alive, iterating in real time. When discussion seemed to have died down and the two firms were content with their proposals, they agreed to authorize for voting.On Monday, October 29, a Politeia administrator opened the voting, and Politeia entered its new chapter of adjudication. Discussion continued online, and votes poured in for and against each entry over the next week. At the beginning, there were concerns over the scenarios where either both proposals passed or both failed. If both were voted down, I would have considered it the will of the stakeholders. If both passed, it would have to be considered an unanticipated edge case in our sovereignty model. Fortunately, neither was the case here.Ditto raced out to a lead, and entering the weekend, their vote tally hovered comfortably around 75% Yes. However, a large number of No votes came in over the weekend, pushing Ditto down to 54% by Sunday. Sunday night and into Monday, the last votes trickled in to buoy Ditto just over the voting threshold of 60%, finishing at 62%. In the end, the process enabled the community to vet proposals in a way that facilitated competitive refinement. The community then voted upon the matter, resulting in a satisfactory outcome. It’s the first experiment in this process, but it was a fascinating, roller coaster, nail-biting journey with a positive outcome. The future of Politeia is promising.As an aside, Politeia is new, and it’s important to clarify voting thresholds and quorum numbers. For on-chain consensus votes, the threshold is 75% with a 10% quorum, whereas with Politeia voting, the threshold is 60% with a 20% quorum.Section II: What We LearnedProposal StructureWhen we asked two firms to make proposals for the same scope of work, we knew we were taking a risk that neither or both of them would be approved. However, Politeia only had one type of proposal. Upon reflection on the PR proposals, I believe the community has arrived at a consensus for a two-tiered vote when professional services need to be contracted. In the future, we intend to build out a system where the first proposal would include the standard What, Why, How, Who, and When information, including scope of work and a rough budget. This proposal can be made by anyone but should be actively managed by a DCC (Decred Contractor Clearance) holder.After the standard discussion and voting process is completed, if the measure is passed, a second layer of the proposal will come to exist. At this time, the Decred community has committed to the endeavor, and any number of potential contractors will be free to submit their specific proposals in Politeia, all under the original proposal that has been approved. There will be internal discussion and consensus on the way this vote would work, but I would guess that a plurality of the votes with a 20% quorum would suffice to pass on the second level of voting.Abandoned ProposalsAs of writing, four proposals exist pre-voting in Politeia and two of them are more than two weeks old. It could be that these proposals were greeted coldly by the community and the proposer thought there was little chance of the proposal passing, or someone could have simply fallen off the grid. Either way, after a certain amount of time, we should avoid clutter in Politeia and establish an “Abandoned” tab to store these proposals. I believe two weeks is a reasonable amount of time for this, but that’s simply my opinion and the community will decide.Progress ReportsOnce a budgetary proposal has passed, the Decred Treasury has agreed upon an outlay of funds. As most people know in life, no news is not good news. Lack of information tends to make people nervous, so we should establish a method for communicating progress on projects and activities. At the beginning of this system, the community will likely trial out a number of different methods, including posting information in relevant Matrix rooms, Medium, or simply pointing to Github. I would argue, long term, that a tab should be built within the Politeia proposal system to track this data, particularly when the project becomes a Decentralized Autonomous Entity and these proposals’ payouts are executed via smart contracts. It’s best to have all the data regarding the lifespan of a project in one place.Communication with CommunityWhen the PR proposals went live in Politeia, there was no advance notice to the majority of the community. As such, many within the community perceived the agencies as interlopers attempting to cash in on the launch of the Decred Treasury. This should have been expected, but was overlooked due to a focus on the communications strategy and execution of the Politeia launch.Upon reading some of the reasonably directed criticism in the proposals room in Matrix, I wrote a synopsis very similar to the early section of this blog detailing why a PR partner was needed, as well as the work that had been done to date to vet and qualify the parties. The tenor of the discussion in that channel changed instantly, and I was fairly certain the issue was clarified. However, it has come to my attention recently that all that discussion was taking place in a room occupied by only 90 community members. I had quelled the concerns of a small minority of the Decred community.Going forward, I think that continuing to work with a small group of core community members to align on a strategy is a good approach. I don’t think anything of consequence should be done on behalf of Decred without the input of the community. However, once discussed and agreed upon by committee, I would make certain to clearly articulate the strategy to the wider Decred community through channels such as Matrix, Medium, Reddit, Twitter, and more.While one component of the lack of communication was ignorance, the other was intentional. Once the proposals were introduced, I contributed to the discussion by answering questions about the process and who would manage the PR firm if one was hired, but I avoided actively campaigning for the concept or for one particular firm over the other.This was the initial launch of Politeia, and I wanted the voice of the community to be heard. I, and others, were very careful to avoid endorsements that could have been perceived as anything close to representative or nation state politics. I believe that this ethos can be sustained going forward through the aforementioned communications that would properly introduce the proposal to the community.Communication: ReportingGiven that 38% of the cast tickets voted against Ditto’s proposal, and that 100% of the community is interested in tracking Politeia’s first large scale budgetary decision, ongoing communication regarding this process and our collective efforts and results is vital. In Politeia and in the proposal room in Matrix, many of the reservations expressed about a PR firm centered around the lack of metrics surrounding the deliverables.These concerns are valid, and they will always exist when contracting professional services. It’s also true that one can only judge what one sees, further highlighting the need for the marketing and PR team to integrate into the community and actively share information. That means soliciting input and feedback on a regular basis in chat rooms and publishing monthly synopses detailing the work performed.The community can judge me and the work of the PR team based upon the work we do as measured against the plan that I detail in the “What Happens Next” section further down. The first step in the plan centers around internal alignment of the team on positioning and messaging, and representing that in an updated website.Once those blocks are set, we’ll generate an integrated plan to create awareness and drive people to inquire further about Decred. One of the major tactics we’ll use to achieve that will be media relations, where we’ll try to get Decred contributors opining as thought leaders on relevant topics, or even get feature articles written on Decred or its governance system. Our targets will be top crypto publications and mainstream outlets such as Forbes, Fortune, Bloomberg, and TechCrunch.These types of stories will generate interest and further investigation into Decred, and we’ll have the website updated and the community trained in messaging to capitalize on the opportunities. Once we build more awareness, our goal will be to capitalize on the interest by attracting more people and institutions to the Decred project. We’ll see proof of this working as new contributors and developers join Matrix.Decred’s event presence will be a place where progress will reveal itself in visible ways. We will bring organization, a unified message of Decred, and we will plan well in advance to maximize our impact. The PR team will plan on-site interviews ahead of the conference with key personnel on stories that are specifically relevant to the project and its event presence. The number and prominence of our speaking opportunities will also be a good proxy for the progress we make. We’re looking for better stages with larger audiences and panels with other high quality projects.At events down the line, we’ll be able to assemble local teams, which will lower our costs and allow us to better connect with attendees. We’re also looking to grow our presence in strategic markets; key areas to watch include Mexico, Brazil, Europe, and Asia Pacific. We’re actively cultivating communities in order to increase our reach and grow our event presence.This is a general overview of the plan, and it will all take time. Alignment will likely take into 2019, which means true outreach will not happen before that because pieces will not be in place to capitalize upon the opportunities. Building of communities is something that will take years, but look for Decred to appear in new places in 2019 and 2020.Ongoing IterationPoliteia is a massively powerful tool, and we’ve just seen its power with the approval of Ditto PR’s proposal. Decred now has a partner with which it can establish and execute a plan to spread the word and grow the community. It’s also a MVP — a minimum viable product. There is robust discussion throughout the chat platforms about whether voting should be transparent, whether and when the proposal submission fee should increase, whether there should be a cost to comment on a proposal, etc.The initial success of the platform has energized our community, brought it together through common experience, and sparked ideas that will make the platform better over time. We all have sovereignty, and we all have the power to change or improve the process through chat discussion and then Politeia. Small issues are already being addressed, and others are being discussed online. Join the proposals room in Matrix and if you believe strongly that certain changes should be made and consensus has been reached, take action by submitting a proposal in Politeia. The system will become what the community imagines and codes.BudgetingResponsible decision making requires information. While many of us know that the Decred Treasury currently holds approximately DCR 555,000, and that current rate of Treasury minting is DCR 1.954 per 5 minute block, it’s asking a lot of the community to extrapolate that into a budgetary concept in which an informed decision can be made upon a USD 20–25k/month expenditure, particularly when the mining rate is reduced by a factor of 100/101 approximately every 21.3 days.With that in mind, I and others are working on a budgetary model that incorporates three variables: the exchange rate of Decred, annual budgetary spend (as a % of Treasury), and the annual increase in price of Decred. This tool should give me and others a healthy understanding of the various pictures of our financial wellness based upon those three variables. I intend to use this model to build consensus around an annual marketing and communications budget to grow the Decred community. This model will be widely available and can be used by other parties, as well. If the community is entrusted with important decision making, it must have relevant data from which to base those decisions.Section III: What Happens Next?Ditto and Decred have already publicly agreed to a scope of work and terms via the approved Politeia proposal. I (Dustorf) am actively working with the Ditto team to share information, and the target date for formal onboarding is December 1.I and Ditto will arrange for onboarding meetings to determine how we will work together and who will be involved from the Decred side. Planning will involve execution across multiple channels, including marketing, events, social media, design, and the writers. Members of those groups will need to be involved in the planning process, and we’ll need to determine how to best integrate communications into our existing platforms.In order to realize our objectives of growing Decred across the world, we will need all the active involvement we can facilitate. We will definitely have weekly calls to discuss ongoing issues, and the Ditto team will actively participate in Matrix rooms. The core concepts of Decred will be upheld: decentralization, evolving stakeholder decision making, and deliverables before hype.Once onboarding is complete, I plan to achieve the following:1. Gain consensus on positioning and messaging of DecredAs a community, we need alignment on this basic issue in order to build the Brand uniformly across the world and to maximize the effectiveness of our communications. Once agreed upon, content will be packaged and made available to enable community members to activate.2. Launch a user surveyLast done in April 2018, I’d like to gauge the community’s views on Decred, and query them on what issues they find important and what tactics they believe would be effective.3. Update the websiteThe website is the first place most people and institutions go to learn about Decred. Leveraging the agreed upon messaging, I would like to make the website easier to navigate, enable various groups access to critical information, and to automate processes such as institutional investor relations and community organizing.4. Integrated Marketing PlanBased upon the feedback from the user survey and brainstorming done within the channels, we’ll develop an integrated plan to activate Decred across the world in 2019, including community building, events, and quality video and written content. This plan will build awareness and drive people and institutions to the website and events to learn more about Decred and hopefully join the community.How Can I Contribute?We have a ton of work ahead (as you can see from the list above). We’ll need contributors of every sort in various jurisdictions to help realize these objectives. We’ll first need people to help flesh out and agree upon the positioning and messaging of Decred. That discussion will likely take place in the marketing room in Matrix in early December.We’re looking for community organizers to introduce and educate others on Decred at local meetups to increase awareness and build the community. We’re also looking to recruit others to introduce Decred in new markets, people who are educated, experienced, trusted, and respected in crypto. If you’re looking to be an active community organizer, join us in the marketing room in Matrix and express your interest to me or others. We will share information, establish best practices, and determine which appeals of Decred are universal, and which ones need to be customized for different countries or cultures.We’re also looking for contributors to help generate content in the writers room. Website updates will likely take place in both the writers room and the marketing room, and communications planning will take place in the marketing room. I’ll also be making a proposal in the research channel for a competitive analysis of various projects of interest. This work will help us formulate arguments for Decred relative to other projects and help us with positioning. If you join those chat groups, you’ll learn more as we do in the weeks to come. If you have specific talents or ideas to share, join us.ConclusionPoliteia is off to an amazing start. The quality of the discussion and the way the process evolved to refine the proposals based upon community feedback demonstrated the project’s premise in action. To me, it was like the Wright Brothers experiencing liftoff for the first time, knowing that their dream was possible and history would be written. Politeia has been released, it has succeeded in its first endeavors. We have identified ways to iterate and improve it and better ways to share more information with the community so they can make quality decisions.I could not be more excited about the current state of Decred, the direction things are going, and the ability of our community to band together to demonstrate a new type of currency, one where stakeholders have sovereignty. It offers powers that will continue to be conceived, developed and unleashed over the coming months and years. Join us and help design and realize these ideas.PR in Politeia: Process, Progress, and Pitching In was originally published in Decred on Medium, where people are continuing the conversation by highlighting and responding to this story.

Decred

18. 11. 16

Decred Infrastructure Inter...

The Decred Project has recently launched Politeia, the proposal system for discussing and voting on changes to be introduced to Decred; seeing as this is no small milestone I thought it appropriate to celebrate this event with a series of articles. In this series I ask people connected with Decred on the infrastructure level all things Decred. Today’s guest is feeleep, the operator of coinmine.pl mining pool.Artikozel: Feeleep, thank you for agreeing to sit down with me today. It’s a pleasure to speak to someone with such a technical background. To begin with, maybe you can tell us a bit about your foray into the world of cryptocurrency? How and when did it all begin?Feeleep: Well, it all began when I checked out very early releases of Bitcoin and I even mined a few, but I may have misplaced them somewhere (laughter). My second approach proper was in May of 2013 when cryptocurrencies started making noise. At first I tried my luck at mining, but the more I read the more my interest in mining pools grew. After dozens of hours spent poring over my virtual machines and running tests I was ready to launch my first Litecoin mining pool (under a different domain then) and later things kind of took on a life of their own (laughter).A: Since as far as I can remember, and I arrived at the Decred scene around April of 2017, which was a little over a year since mainnet had been launched, your pool had already been offering DCR mining. Can you tell us how you learned of Decred and what made you include it in your business model?F: In this environment cryptocurrencies appear and have been appearing by the truckload, but important and interesting projects stand out. Since the very beginning Decred appeared intriguing and extraordinary to me, and so I spent many days getting the pool ready (at that time still in getwork version) and at block height 68 I began my contribution. Later on collaborating on the stratum protocol proved to be a bit challenging, but I can’t really recall when it happened exactly (laughter).A: Entering the environment of the then-relatively low-profile project such as Decred it was interesting to see a Polish accent, that is your pool, right from the word go. What does the Polish Decred mining community look like, if you happen to know some of them personally?F: To be honest, the biggest challenge running a pool is interacting with users and after a few years I had come to the conclusion that I couldn’t handle communications on so many scattered channels, so I focused on English-speaking customer support only. Of course, there are times when someone writes to me in Polish, but I treat everyone just the same. As for personal contact with Polish miners I’m afraid I don’t have any.A: You have recently launched a stakepool, currently more often called a VSP (Voting Service Provider) to match your mining pool and in the blink of an eye there are several dozen (if not hundreds by the time this comes out) tickets under your care. Was this a grassroots initiative by your users or maybe part of an overall master plan of becoming more involved in the Decred ecosystem? Can you tell us something about your possible expansion plans?F: Running a pool is just like any other business where you need to worry about securing funds for everyday operation expenses. In recent years or months the mining load for serious projects has moved to China, mostly due to ASIC manufacturers. This means lower income and a necessity to look for alternative sources of funding. I thought that since I have quite a user base perhaps some of them would be interested in joining. The low commission is due to the fact that I run my VSP on servers that already host my mining pool. I’ll admit that I had thought about contribting to Decred more, but so far nothing has really panned out.A: What does your overall involvement in crypto look like, apart from providing mining infrastructure for many altcoins? Do you attend meetups? Can you be found visiting Internet forums? Is the spark of initial fascination still there inside, or is it now just business as usual after so many years?F: As I’ve already stated, so far I have only thought about playing a bigger role. This is mostly due to factors such as family, work, etc., so it’s difficult to spend additional time on forum discussions. Some weariness has definitely set in, mostly due to hundreds of new currencies and the whole scene going downright opaque for the average user, especially since most of these projects are typical get-rich-quick scams. But I promise to rethink my role, you know, as a New Year’s resolution. The most immediate thing on my mind is, however, my skiing trip (laughter).A: Your mining pool supports mining of many currencies. What factors made you choose exactly those? Do you have any favourites amongst them, and if so why?F: Well, many of the projects that I used to run are now defunct, so my gut is hardly infallible. As I’ve mentioned before a project’s innovation factor plays a huge role, but I also take the mining pool situation into consideration, because the market reality is such that if there are already two or three established mining pools that support a given project then the profit margins are not worth investing my time into. My favourites are Decred, Dash, and Lbry, chiefly due to my pool contributing to achieving PoW stability. Also, I have to say that from a technical standpoint Decred is the only daemon which has never experienced any stability or syncing issues in my entire business history.A: By the way recently, in the last year or so, the number of cryptocurrency projects has gone to the moon because of ICOs (laughter); although this phenomenon appears to be slowly losing steam it has had a lasting effect. Where do you stand on ICOs, project-wise and as a model of raising funds?F: I’m going to be harsh here. I my opinion ICOs would make a lot of sense if the amount of money raised didn’t exceed a few hundred thousand dollars, just so you could pay several months’ salary for a couple of developers. Sadly, in crypto as well as in fiat, we have seen an unprecedented inflation in virtual bucks, and when I look at projects raising up to several millions worth of dollars I think to myself ‘who signs up for this?’ How can an anonymous group of people raise so much dough riding on (mostly) empty promises? I mean, this is the valuation of serious businesses employing dozens of people, and most importantly, delivering real goods and services. So no, this is not my cup of tea, although I’m fully aware that one could have made a killing on many an ICO (laughter).A: Many of our users would be interested to learn about the amount of time running services like a mining pool or a VSP requires. Is this a full-time job, a hobby, or something that a competent sysadmin does in their sleep?F: At the scale at which I do things and after several years of optimisation, monitoring, backups, and other scripts it’s a matter of 3–4 hours a day. But before I had gained the necessary experience spending 24 hours in front of the monitor was no uncommon sight. Some forks, attempts at circumventing my security or exploiting backend code holes happened a couple of times, and this always spells hard work, but mostly because of hard work that I had put into the software I haven’t had any such problems for over a year now.A: When GPU mining was king coinmine.pl was the undisputed champion in terms of DCR mining, not going below 50% of the hashrate for the longest time until the arrival of ASICs. How has the DCR part of your business changed since then?F: GPU mining mainly came together with efficiency issues on the stratum and connections number end of things as well as on the backend side. This contributed to me tightening up and improving my code, but necessitated the addition of extra servers (laughter). Now the trend is the reverse of the above, but all the optimisations have remained, so I’m saving a lot of time (laughter).A: In July of 2017 a change in the ticket pricing algorithm took place. Before that day users had to pay more and more fees to the miners so they would include their tickets in blocks, which was a headache for the stakeholders, and a windfall for the miners. How did it affect your operation? Did you even see the change take effect, and, what is more important, were you aware of the new algorithm being set for a vote, or maybe even you yourself took part in it?F: I had heard about that change but it didn’t affect the miners’ interest one bit. Currently, transaction fees still constitute but a fraction of the block reward.A: (tongue-in-cheek) Having had this undisputed supremacy in DCR mining hashpower were you ever tempted to bend the Decred network to your will in any way, shape, or form?F: Decred is not the only coin that I, at times, had more than even 70% of total hashrate, but I was never tempted to act to anyone’s detriment, especially since in the mining world stability, honesty, and the miners’ opinion are the name of the game. What I care about deeply is the market developing thanks to and due to what I do.A: Decred has recently launched Politeia, a proposal system for introducing changes into the system. As the owner of part of the Decred infrastructure do you intend to be active in governing the project in such a way? What changes would you like to see discussed and voted on the most as a DCR operator and user?F: To be completely blunt I just simply haven’t had the time to familiarise myself with it, so in such a case I’m going to do the opposite of what people do these days and hold my tongue on the matter.A: Beside operating a mining pool and a Decred VSP are you also involved in Proof-of-Work mining yourself?F: No, I myself don’t mine. I only own one GPU for test purposes.A: You are active on your Discord and in the Decred comm channels, mainly in your professional capacity. What has been the biggest challenge you had to face as a Decred ecosystem service provider, technical, or otherwise?F: The problem has always been the lack of official documentation pertaining to the stratum protocol and I remember the commotion that a change in the block header that had not been included in the pool and miner code caused. This echoes all the way into today because ASIC manufacturers often interpret pool data in their own way…(…) Decred is the only daemon which has never experienced any stability or syncing issues in my entire business history.A: Feeleep, our users are intrugied by your domain of operation and would like to ask some burning questions.EM shielding. Yes or no?F: A fascinating question, albeit a bit too cryptic…A: What does communication between you and your users look like? What problems do they come to you with?F: Quite a few questions revolve around the mining pool itself and reward calculation. People can’t wrap their heads around what mining is, what PPLNS is, etc. The other most common mater is transactions, but most often any fault lies with the wallet or exchange, and not the pool.A: Do you run on own hardware or virtual servers? How was your experience with cloud providers (Amazon, Digital Ocean, etc)?F: I have approached services like VPS or cloud computing many times, but ultimately I always ended up going back to dedicated servers. At the moment all my machines are physical and not virtual.A: What piece of advice would you give to people considering launching their own VSP service for Decred?F: You have to think about security first and foremost, because in my 5 years of running services people have been trying to break (into) my stuff several times, including via DDoS attacks, exploiting holes in publically-available code, stolen or published databases from other mines, and last but not least utilising social engineering techniques. The other things to consider is really sound and stable infrastructure (laughter).A: Feeleep, thank you so much for taking the time to answer our questions and showing us what the mining backstage of code and machines that carry the Decred network on their shoulders looks like. I wish you plenty of success in mining and developing your projects.Originally published at medium.com on the 8th of November 2018.Translation by @artikozel.Random mining operation, somewhere on earthDecred Infrastructure Interviews: feeleep, Operator, coinmine.pl was originally published in Decred on Medium, where people are continuing the conversation by highlighting and responding to this story.

Decred

18. 11. 08

Decred Infrastructure Inter...

The Decred Project has recently launched Politeia, the proposal system for discussing and voting on changes to be introduced to Decred; seeing as this is no small milestone I thought it appropriate to celebrate this event with a series of articles. In this series I ask people connected with Decred on the infrastructure level all things Decred. Today’s guest is feeleep, the operator of coinmine.pl mining pool.Artikozel: Feeleep, thank you for agreeing to sit down with me today. It’s a pleasure to speak to someone with such a technical background. To begin with, maybe you can tell us a bit about your foray into the world of cryptocurrency? How and when did it all begin?Feeleep: Well, it all began when I checked out very early releases of Bitcoin and I even mined a few, but I may have misplaced them somewhere (laughter). My second approach proper was in May of 2013 when cryptocurrencies started making noise. At first I tried my luck at mining, but the more I read the more my interest in mining pools grew. After dozens of hours spent poring over my virtual machines and running tests I was ready to launch my first Litecoin mining pool (under a different domain then) and later things kind of took on a life of their own (laughter).A: Since as far as I can remember, and I arrived at the Decred scene around April of 2017, which was a little over a year since mainnet had been launched, your pool had already been offering DCR mining. Can you tell us how you learned of Decred and what made you include it in your business model?F: In this environment cryptocurrencies appear and have been appearing by the truckload, but important and interesting projects stand out. Since the very beginning Decred appeared intriguing and extraordinary to me, and so I spent many days getting the pool ready (at that time still in getwork version) and at block height 68 I began my contribution. Later on collaborating on the stratum protocol proved to be a bit challenging, but I can’t really recall when it happened exactly (laughter).A: Entering the environment of the then-relatively low-profile project such as Decred it was interesting to see a Polish accent, that is your pool, right from the word go. What does the Polish Decred mining community look like, if you happen to know some of them personally?F: To be honest, the biggest challenge running a pool is interacting with users and after a few years I had come to the conclusion that I couldn’t handle communications on so many scattered channels, so I focused on English-speaking customer support only. Of course, there are times when someone writes to me in Polish, but I treat everyone just the same. As for personal contact with Polish miners I’m afraid I don’t have any.A: You have recently launched a stakepool, currently more often called a VSP (Voting Service Provider) to match your mining pool and in the blink of an eye there are several dozen (if not hundreds by the time this comes out) tickets under your care. Was this a grassroots initiative by your users or maybe part of an overall master plan of becoming more involved in the Decred ecosystem? Can you tell us something about your possible expansion plans?F: Running a pool is just like any other business where you need to worry about securing funds for everyday operation expenses. In recent years or months the mining load for serious projects has moved to China, mostly due to ASIC manufacturers. This means lower income and a necessity to look for alternative sources of funding. I thought that since I have quite a user base perhaps some of them would be interested in joining. The low commission is due to the fact that I run my VSP on servers that already host my mining pool. I’ll admit that I had thought about contribting to Decred more, but so far nothing has really panned out.A: What does your overall involvement in crypto look like, apart from providing mining infrastructure for many altcoins? Do you attend meetups? Can you be found visiting Internet forums? Is the spark of initial fascination still there inside, or is it now just business as usual after so many years?F: As I’ve already stated, so far I have only thought about playing a bigger role. This is mostly due to factors such as family, work, etc., so it’s difficult to spend additional time on forum discussions. Some weariness has definitely set in, mostly due to hundreds of new currencies and the whole scene going downright opaque for the average user, especially since most of these projects are typical get-rich-quick scams. But I promise to rethink my role, you know, as a New Year’s resolution. The most immediate thing on my mind is, however, my skiing trip (laughter).A: Your mining pool supports mining of many currencies. What factors made you choose exactly those? Do you have any favourites amongst them, and if so why?F: Well, many of the projects that I used to run are now defunct, so my gut is hardly infallible. As I’ve mentioned before a project’s innovation factor plays a huge role, but I also take the mining pool situation into consideration, because the market reality is such that if there are already two or three established mining pools that support a given project then the profit margins are not worth investing my time into. My favourites are Decred, Dash, and Lbry, chiefly due to my pool contributing to achieving PoW stability. Also, I have to say that from a technical standpoint Decred is the only daemon which has never experienced any stability or syncing issues in my entire business history.A: By the way recently, in the last year or so, the number of cryptocurrency projects has gone to the moon because of ICOs (laughter); although this phenomenon appears to be slowly losing steam it has had a lasting effect. Where do you stand on ICOs, project-wise and as a model of raising funds?F: I’m going to be harsh here. I my opinion ICOs would make a lot of sense if the amount of money raised didn’t exceed a few hundred thousand dollars, just so you could pay several months’ salary for a couple of developers. Sadly, in crypto as well as in fiat, we have seen an unprecedented inflation in virtual bucks, and when I look at projects raising up to several millions worth of dollars I think to myself ‘who signs up for this?’ How can an anonymous group of people raise so much dough riding on (mostly) empty promises? I mean, this is the valuation of serious businesses employing dozens of people, and most importantly, delivering real goods and services. So no, this is not my cup of tea, although I’m fully aware that one could have made a killing on many an ICO (laughter).A: Many of our users would be interested to learn about the amount of time running services like a mining pool or a VSP requires. Is this a full-time job, a hobby, or something that a competent sysadmin does in their sleep?F: At the scale at which I do things and after several years of optimisation, monitoring, backups, and other scripts it’s a matter of 3–4 hours a day. But before I had gained the necessary experience spending 24 hours in front of the monitor was no uncommon sight. Some forks, attempts at circumventing my security or exploiting backend code holes happened a couple of times, and this always spells hard work, but mostly because of hard work that I had put into the software I haven’t had any such problems for over a year now.A: When GPU mining was king coinmine.pl was the undisputed champion in terms of DCR mining, not going below 50% of the hashrate for the longest time until the arrival of ASICs. How has the DCR part of your business changed since then?F: GPU mining mainly came together with efficiency issues on the stratum and connections number end of things as well as on the backend side. This contributed to me tightening up and improving my code, but necessitated the addition of extra servers (laughter). Now the trend is the reverse of the above, but all the optimisations have remained, so I’m saving a lot of time (laughter).A: In July of 2017 a change in the ticket pricing algorithm took place. Before that day users had to pay more and more fees to the miners so they would include their tickets in blocks, which was a headache for the stakeholders, and a windfall for the miners. How did it affect your operation? Did you even see the change take effect, and, what is more important, were you aware of the new algorithm being set for a vote, or maybe even you yourself took part in it?F: I had heard about that change but it didn’t affect the miners’ interest one bit. Currently, transaction fees still constitute but a fraction of the block reward.A: (tongue-in-cheek) Having had this undisputed supremacy in DCR mining hashpower were you ever tempted to bend the Decred network to your will in any way, shape, or form?F: Decred is not the only coin that I, at times, had more than even 70% of total hashrate, but I was never tempted to act to anyone’s detriment, especially since in the mining world stability, honesty, and the miners’ opinion are the name of the game. What I care about deeply is the market developing thanks to and due to what I do.A: Decred has recently launched Politeia, a proposal system for introducing changes into the system. As the owner of part of the Decred infrastructure do you intend to be active in governing the project in such a way? What changes would you like to see discussed and voted on the most as a DCR operator and user?F: To be completely blunt I just simply haven’t had the time to familiarise myself with it, so in such a case I’m going to do the opposite of what people do these days and hold my tongue on the matter.A: Beside operating a mining pool and a Decred VSP are you also involved in Proof-of-Work mining yourself?F: No, I myself don’t mine. I only own one GPU for test purposes.A: You are active on your Discord and in the Decred comm channels, mainly in your professional capacity. What has been the biggest challenge you had to face as a Decred ecosystem service provider, technical, or otherwise?F: The problem has always been the lack of official documentation pertaining to the stratum protocol and I remember the commotion that a change in the block header that had not been included in the pool and miner code caused. This echoes all the way into today because ASIC manufacturers often interpret pool data in their own way…(…) Decred is the only daemon which has never experienced any stability or syncing issues in my entire business history.A: Feeleep, our users are intrugied by your domain of operation and would like to ask some burning questions.EM shielding. Yes or no?F: A fascinating question, albeit a bit too cryptic…A: What does communication between you and your users look like? What problems do they come to you with?F: Quite a few questions revolve around the mining pool itself and reward calculation. People can’t wrap their heads around what mining is, what PPLNS is, etc. The other most common mater is transactions, but most often any fault lies with the wallet or exchange, and not the pool.A: Do you run on own hardware or virtual servers? How was your experience with cloud providers (Amazon, Digital Ocean, etc)?F: I have approached services like VPS or cloud computing many times, but ultimately I always ended up going back to dedicated servers. At the moment all my machines are physical and not virtual.A: What piece of advice would you give to people considering launching their own VSP service for Decred?F: You have to think about security first and foremost, because in my 5 years of running services people have been trying to break (into) my stuff several times, including via DDoS attacks, exploiting holes in publically-available code, stolen or published databases from other mines, and last but not least utilising social engineering techniques. The other things to consider is really sound and stable infrastructure (laughter).A: Feeleep, thank you so much for taking the time to answer our questions and showing us what the mining backstage of code and machines that carry the Decred network on their shoulders looks like. I wish you plenty of success in mining and developing your projects.Originally published at medium.com on the 8th of November 2018.Translation by @artikozel.Random mining operation, somewhere on earthDecred Infrastructure Interviews: feeleep, Operator, coinmine.pl was originally published in Decred on Medium, where people are continuing the conversation by highlighting and responding to this story.

Decred

18. 11. 08

Transaction History
Transaction History Market Market Transaction volume Address
BW.com DCR/USDT 33,851.67 193,626,057.60 Short cut
DragonEx DCR/USDT 33,792.87 96,721,973.68 Short cut
Coinall DCR/BTC 34,058.89 72,380,449.58 Short cut
EXMO DCR/UAH 35,024.47 23,015,234.11 Short cut
OOOBTC DCR/BTC 36,242.55 15,205,472.07 Short cut
UPbit DCR/BTC 33,912.50 7,959,920.67 Short cut
Binance DCR/BNB 34,333.59 7,855,126.47 Short cut
Huobi Global DCR/ETH 34,028.65 4,895,866.46 Short cut
Bittrex DCR/USDT 34,614.18 2,201,526.61 Short cut
OKCoin DCR/USD 32,636.78 805,259.53 Short cut
HitBTC DCR/BTC 32,976.53 139,587.50 Short cut
YObit DCR/BTC 30,929.78 32,005.54 Short cut
Gate.io DCR/BTC 33,380.45 29,374.80 Short cut
Kucoin DCR/ETH 33,154.33 24,481.16 Short cut
Huobi Korea DCR/ETH 33,920.38 0.00 Short cut
Tux Exchange DCR/BTC 38,155.24 0.00 Short cut
CoinExchange To be provided later To be provided later To be provided later Short cut
Bleutrade To be provided later To be provided later To be provided later Short cut
Braziliex To be provided later To be provided later To be provided later Short cut
POLONIEX To be provided later To be provided later To be provided later Short cut
Security verification

There is security verification of the project
Why security verification is necessary?

Read more

comment

* Written questions can not be edited.

* The questions will be answered directly by the token team.

Information
Platform ERC20
Accepting
Hard cap -
Audit -
Stage -
Location -
Market of major crypto coins *2019년 07월 22일 last update

Bitcoin

BTC

12,262,368.47 KRW 4.59%

Ethereum

ETH

258,788.14 KRW 5.25%

Ripple

XRP

383.17 KRW 3.09%

Litecoin

LTC

114,878.54 KRW 5.38%

Bitcoin Cash

BCH

370,259.00 KRW 5.65%

Binance Coin

BNB

35,220.78 KRW 3.49%

Tether

USDT

1,174.18 KRW 0.75%

EOS

EOS

4,971.43 KRW 4.28%

Bitcoin SV

BSV

194,389.98 KRW 5.84%

TRON

TRX

32.53 KRW 8.06%

Stellar

XLM

105.53 KRW 6.68%

Cardano

ADA

70.69 KRW 7.49%

Monero

XMR

98,110.28 KRW 3.66%

Dash

DASH

137,517.37 KRW 2.85%

NEO

NEO

14,890.85 KRW 7.34%

Ethereum Classic

ETC

7,238.60 KRW 2.08%

Tezos

XTZ

1,218.41 KRW 0.05%

NEM

XEM

78.07 KRW 5.29%

Maker

MKR

661,740.77 KRW 1.80%

Ontology

ONT

1,187.11 KRW 5.40%