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Function X: A Concept Paper introducing the f(x) ecosystem, a universal decentralized internet powered by blockchain technology and smart devices

Function X: A Concept Paper introducing the f(x) ecosystem, a universal decentralized internet powered by blockchain technology and smart devices

https://preview.redd.it/yylq6k0yqrv21.png?width=633&format=png&auto=webp&s=089ffe83e18baeceb87d465ca6fad184939490e4

Prologue

This is a Concept Paper written to introduce the Function X Ecosystem, which includes the XPhone. It also addresses the relationship between the XPOS and Function X.
Pundi X has always been a community-driven project. We have lived by the mission of making sure the community comes first and we are constantly learning from discussions and interactions on social media and in real-life meetings.
As with all discussions, there is always background noise but we have found gems in these community discussions. One such example is a question which we found constantly lingering at the back of our mind, “Has blockchain changed the world as the Internet did in the ’90s, and the automobile in the ‘20s?”. Many might argue that it has, given the rise of so many blockchain projects with vast potential in different dimensions (like ours, if we may add). But the question remains, “can blockchain ever become what the Internet, as we know it today, has to the world?”
Function X, a universal decentralized internet which is powered by blockchain technology and smart devices.
Over the past few months, in the process of implementing and deploying the XPOS solution, we believe we found the answer to the question. A nimble development team was set up to bring the answer to life. We discovered that it is indeed possible to bring blockchain to the world of telephony, data transmission, storage and other industries; a world far beyond financial transactions and transfers.
This is supported by end-user smart devices functioning as blockchain nodes. These devices include the XPOS and XPhone developed by Pundi X and will also include many other hardware devices manufactured by other original equipment manufacturers.
The vision we want to achieve for f(x) is to create a fully autonomous and decentralized network that does not rely on any individual, organization or structure.
Due to the nature of the many new concepts introduced within this Concept Paper, we have included a Q&A after each segment to facilitate your understanding. We will continuously update this paper to reflect the progress we’re making.

Function X: The Internet was just the beginning

The advent of the Internet has revolutionized the world. It created a communications layer so robust that it has resulted in TCP/IP becoming the network standard.
The Internet also created a wealth of information so disruptive that a company like Amazon threatened to wipe out all the traditional brick-and-mortar bookstores. These bookstores were forced to either adapt or perish. The same applies to the news publishing sector: the offerings of Google and Facebook have caused the near extinction of traditional newspapers.
The digitalization of the world with the Internet has enabled tech behemoths like Apple, Amazon, Google and Facebook to dominate and rule over traditional companies. The grip of these tech giants is so extensive that it makes you wonder if the choices you make are truly your own or influenced by the data they have on you as a user.
We see the blockchain revolution happening in three phases. The first was how Bitcoin showed the world what digital currency is. The second refers to how Ethereum has provided a platform to build decentralized assets easily. The clearest use case of that has come in the form of the thousands of altcoins seen today that we all are familiar with. The third phase is what many blockchain companies are trying to do now: 1) to bring the performance of blockchain to a whole new level (transaction speed, throughput, sharding, etc.) and 2) to change the course of traditional industries and platforms—including the Internet and user dynamics.
Public blockchains allow trustless transactions. If everything can be transacted on the blockchain in a decentralized manner, the information will flow more efficiently than traditional offerings, without the interception of intermediators. It will level the playing field and prevent data monopolization thus allowing small innovators to develop and flourish by leveraging the resources and data shared on the blockchain.

The Blockchain revolution will be the biggest digital revolution

In order to displace an incumbent technology with something new, we believe the change and improvement which the new technology has to bring will have to be at least a tenfold improvement on all aspects including speed, transparency, scalability and governance (consensus). We are excited to say that the time for this 10-times change is here. It’s time to take it up 10x with Function X.
Function X or f(x) is an ecosystem built entirely on and for the blockchain. Everything in f(x) (including the application source code, transmission protocol and hardware) is completely decentralized and secure. Every bit and byte in f(x) is part of the blockchain.
What we have developed is not just a public chain. It is a total decentralized solution. It consists of five core components: Function X Operating System (OS); Function X distributed ledger (Blockchain); Function X IPFS; FXTP Protocol and Function X Decentralized Docker. All five components serve a single purpose which is to decentralize all services, apps, websites, communications and, most importantly, data.
The purpose of Function X OS is to allow smart hardware and IoTs to harness the upside and potential utility of the decentralization approach. We have built an in-house solution for how mobile phones can leverage Function X OS in the form of the XPhone. Other companies can also employ the Function X OS and further customize it for their own smart devices. Every smart device in the Function X ecosystem can be a node and each will have its own address and private key, uniquely linked to their node names. The OS is based on the Android OS 9.0, therefore benefiting from backward compatibility with Android apps. The Function X OS supports Android apps and Google services (referred to as the traditional mode), as well as the newly developed decentralized services (referred to as the blockchain mode). Other XPhone features powered by the Function X OS will be elaborated on in the following sections.
Using the Function X Ecosystem (namely Function X FXTP), the transmission of data runs on a complex exchange of public and private key data and encryption but never through a centralized intermediary. Hence it guarantees communication without interception and gives users direct access to the data shared by others. Any information that is sent or transacted over the Function X Blockchain will also be recorded on the chain and fully protected by encryption so the ownesender has control over data sharing. And that is how a decentralized system for communications works.
For developers and users transitioning to the Function X platform, it will be a relatively seamless process. We have intentionally designed the process of creating and publishing new decentralized applications (DApps) on Function X to be easy, such that the knowledge and experience from developing and using Android will be transferable. With that in mind, a single line of code in most traditional apps can be modified, and developers can have their transmission protocol moved from the traditional HTTP mode (centralized) to a decentralized mode, thus making the transmission “ownerless” because data can transmit through the network of nodes without being blocked by third parties. How services can be ported easily or built from scratch as DApps will also be explained in the following sections, employing technologies in the Function X ecosystem (namely Function X IPFS, FXTP Protocol and Decentralized Docker).

f(x) Chain

f(x) chain is a set of consensus algorithms in the form of a distributed ledger, as part of the Function X ecosystem. The blockchain is the building block of our distributed ledger that stores and verifies transactions including financials, payments, communications (phone calls, file transfers, storage), services (DApps) and more.
Will Function X launch a mainnet?
Yes. The f(x) chain is a blockchain hence there will be a mainnet.
When will the testnet be launched?
Q2 2019 (projected).
When will the mainnet be launched?
Q3 2019 (projected).
How is the Function X blockchain designed?
The f(x) chain is designed based on the philosophy that any blockchain should be able to address real-life market demand of a constantly growing peer-to-peer network. It is a blockchain with high throughput achieved with a combination of decentralized hardware support (XPOS, XPhone, etc.) and open-source software toolkit enhancements.
What are the physical devices that will be connected to the Function X blockchain?
In due course, the XPOS OS will be replaced by the f(x) OS. On the other hand, the XPhone was designed with full f(x) OS integration in mind, from the ground up. After the f(x) OS onboarding, and with adequate stability testings and improvements, XPOS and XPhone will then be connected to the f(x) Chain.
What are the different elements of a block?
Anything that is transmittable over the distributed network can be stored in the block, including but not limited to phone call records, websites, data packets, source code, etc. It is worth noting that throughout these processes, all data is encrypted and only the owner of the private key has the right to decide how the data should be shared, stored, decrypted or even destroyed.
Which consensus mechanism is used?
Practical Byzantine Fault Tolerance (PBFT).
What are the other implementations of Practical Byzantine Fault Tolerance (PBFT)?
Flight systems that require very low latency. For example, SpaceX’s flight system, Dragon, uses PBFT design philosophy. [Appendix]
How do you create a much faster public chain?
We believe in achieving higher speed, thus hardware and software configurations matter. If your hardware is limited in numbers or processing power, this will limit the transaction speed which may pose security risks. The Ethereum network consists of about 25,000 nodes spread across the globe now, just two years after it was launched. Meanwhile, the Bitcoin network currently has around 7,000 nodes verifying the network. As for Pundi X, with the deployment plan (by us and our partners) for XPOS, XPhone and potentially other smart devices, we anticipate that we will be able to surpass the number of Bitcoin and Ethereum nodes within 1 to 2 years. There are also plans for a very competitive software implementation of our public blockchain, the details for which we will be sharing in the near future.

f(x) OS

The f(x) OS is an Android-modified operating system that is also blockchain-compatible. You can switch seamlessly between the blockchain and the traditional mode. In the blockchain mode, every bit and byte is fully decentralized including your calls, messages, browsers and apps. When in traditional mode, the f(x) OS supports all Android features.
Android is the most open and advanced operating system for smart hardware with over 2 billion monthly active users. Using Android also fits into our philosophy of being an OS/software designer and letting third-party hardware makers produce the hardware for the Function X Ecosystem.
What kind of open source will it be?
This has not been finalized, but the options we are currently considering are Apache or GNU GPLv3.
What kind of hardware will it work on?
The f(x) OS works on ARM architecture, hence it works on most smartphones, tablet computers, smart TVs, Android Auto and smartwatches in the market.
Will you build a new browser?
We are currently using a modified version of the Google Chrome browser. The browser supports both HTTP and FXTP, which means that apart from distributed FXTP contents, users can view traditional contents, such ashttps://www.google.com.
What is the Node Name System (NNS)?
A NNS is a distributed version of the traditional Domain Name System. A NNS allows every piece of Function X hardware, including the XPhone, to have a unique identity. This identity will be the unique identifier and can be called anything with digits and numbers, such as ‘JohnDoe2018’ or ‘AliceBob’. More on NNS in the following sections.
Will a third-party device running the f(x) OS be automatically connected to the f(x) blockchain?
Yes, third-party devices will be connected to the f(x) blockchain automatically.

f(x) FXTP

A transmission protocol defines the rules to allow information to be sent via a network. On the Internet, HTTP is a transmission protocol that governs how information such as website contents can be sent, received and displayed. FXTP is a transmission protocol for the decentralized network.
FXTP is different from HTTP because it is an end-to-end transmission whereby your data can be sent, received and displayed based on a consensus mechanism rather than a client-server based decision-making mechanism. In HTTP, the server (which is controlled by an entity) decides how and if the data is sent (or even monitored), whereas in FXTP, the data is sent out and propagates to the destination based on consensus.
HTTP functions as a request–response protocol in the client-server computing model. A web browser, for example, may be the client and an application running on a computer hosting a website may be the server. FXTP functions as a propagation protocol via a consensus model. A node that propagates the protocol and its packet content is both a “client” and a “server”, hence whether a packet reaches a destination is not determined by any intermediate party and this makes it more secure.

f(x) IPFS

IPFS is a protocol and network designed to store data in a distributed system. A person who wants to retrieve a file will call an identifier (hash) of the file, IPFS then combs through the other nodes and supplies the person with the file.
The file is stored on the IPFS network. If you run your own node, your file would be stored only on your node and available for the world to download. If someone else downloads it and seeds it, then the file will be stored on both your node the node of the individual who downloaded it (similar to BitTorrent).
IPFS is decentralized and more secure, which allows faster file and data transfer.

f(x) DDocker

Docker is computer program designed to make it easier to create, deploy, and run applications. Containers allow a developer to package up an application including libraries, and ship it all out as a package.
As the name suggests, Decentralized Docker is an open platform for developers to build, ship and run distributed applications. Developers will be able to store, deploy and run their codes remote in different locations and the codes are secure in a decentralized way.

XPhone

Beyond crypto: First true blockchain phone that is secured and decentralized to the core
XPhone is the world’s first blockchain phone which is designed with innovative features that are not found on other smartphones.
Powered by Function X, an ecosystem built entirely on and for the blockchain, XPhone runs on a new transmission protocol for the blockchain age. The innovation significantly expands the use of blockchain technology beyond financial transfers.
Unlike traditional phones which require a centralized service provider, XPhone runs independently without the need for that. Users can route phone calls and messages via blockchain nodes without the need for phone numbers.
Once the XPhone is registered on the network, for e.g., by a user named Pitt, if someone wants to access Pitt’s publicly shared data or content, that user can just enter FXTP://xxx.Pitt. This is similar to what we do for the traditional https:// protocol.
Whether Pitt is sharing photos, data, files or a website, they can be accessed through this path. And if Pitt’s friends would like to contact him, they can call, text or email his XPhone simply by entering “call.pitt”, “message.pitt”, or “mail.pitt”.
The transmission of data runs on a complex exchange of public and private key data with encryption. It can guarantee communication without interception and gives users direct access to the data shared by others. Any information that is sent or transacted over the Function X Blockchain will also be recorded on the chain.
Toggle between now and the future
Blockchain-based calling and messaging can be toggled on and off on the phone operating system which is built on Android 9.0. XPhone users can enjoy all the blockchain has to offer, as well as the traditional functionalities of an Android smartphone.
We’ll be sharing more about the availability of the XPhone and further applications of Function X in the near future.

DApps

DApps for mass adoption
So far the use of decentralized applications has been disappointing. But what if there was a straightforward way to bring popular, existing apps into a decentralized environment, without rebuilding everything? Until now, much of what we call peer-to-peer or ‘decentralized’ services continue to be built on centralized networks. We set out to change that with Function X; to disperse content now stored in the hands of the few, and to evolve services currently controlled by central parties.
Use Cases: Sharing economy
As seen from our ride-hailing DApp example that was demonstrated in New York back in November 2018, moving towards true decentralization empowers the providers of services and not the intermediaries. In the same way, the XPhone returns power to users over how their data is being shared and with whom. Function X will empower content creators to determine how their work is being displayed and used.
Use Cases: Free naming
One of the earliest alternative cryptocurrencies, Namecoin, wanted to use a blockchain to provide a name registration system, where users can register their names to create a unique identity. It is similar to the DNS system mapping to IP addresses. With the Node Name System (NNS) it is now possible to do this on the blockchain.
NNS is a distributed version of the traditional Domain Name System. A NNS allows every piece of Function X hardware, including the XPhone, to have a unique identifier that can be named anything with digits and numbers, such as ‘JohnDoe2018’ or ‘AliceBob’.
Use Cases: Mobile data currency
According to a study, mobile operator data revenues are estimated at over $600 billion USD by 2020, equivalent to $50 billion USD per month [appendix]. Assuming users are able to use services such as blockchain calls provided by XPhone (or other phones using Function X) the savings will be immense and the gain from profit can be passed on to providers such as DApp developers in Function X. In other words, instead of paying hefty bills to a mobile carrier for voice calls, users can pay less by making blockchain calls, and the fees paid are in f(x) coins. More importantly users will have complete privacy over their calls.
Use Cases: Decentralized file storage
Ethereum contracts claim to allow for the development of a decentralized file storage ecosystem, “where individual users can earn small quantities of money by renting out their own hard drives and unused space can be used to further drive down the costs of file storage.” However, they do not necessarily have the hardware to back this up. With the deployment of XPOS, smart hardware nodes and more, Function X is a natural fit for Decentralized File Storage. In fact, it is basically what f(x) IPFS is built for.
These are just four examples of the many use cases purported, and there can, will and should be more practical applications beyond these; we are right in the middle of uncharted territories.

Tokenomics

Decentralized and autonomous
The f(x) ecosystem is fully decentralized. It’s designed and built to run autonomously in perpetuity without the reliance or supervision of any individual or organization. To support this autonomous structure, f(x) Coin which is the underlying ‘currency’ within the f(x) ecosystem has to be decentralized in terms of its distribution, allocation, control, circulation and the way it’s being generated.
To get the structure of f(x) properly set up, the founding team will initially act as ‘initiators’ and ‘guardians’ of the ecosystem. The role of the team will be similar to being a gatekeeper to prevent any bad actors or stakeholders playing foul. At the same time, the team will facilitate good players to grow within the ecosystem. Once the f(x) ecosystem is up and running, the role of the founding team will be irrelevant and phased out. The long term intention of the team is to step away, allowing the ecosystem to run and flourish by itself.

Utility

In this section, we will explore the utility of the f(x) Coin. f(x) Coin is the native ‘currency’ of the Function X blockchain and ecosystem. All services rendered in the ecosystem will be processed, transacted with, or “fueled” by the f(x) Coin. Some of the proposed use cases include:
  • For service providers: Getting paid by developers, companies and consumers for providing storage nodes, DDocker and improvement of network connections. The role of service providers will be described in greater detail in the rest of the paper.
  • For consumers: Paying for service fees for the DApps, nodes, network resources, storage solutions and other services consumed within the f(x) ecosystem.
  • For developers: Paying for services and resources rendered in the ecosystem such as smart contract creation, file storage (paid to IPFS service provider), code hosting (paid to DDocker service provider), advertisements (paid to other developers) and design works. Developers can also get paid by enterprises or organizations that engaged in the developer’s services.
  • For enterprises or organizations: Paying for services provided by developers and advertisers. Services provided to consumers will be charged and denominated in f(x) Coin.
  • For phone and hardware manufacturers: Paying for further Function X OS customizations. It is worth noting that Pundi X Labs plan to only build a few thousand devices of the XPhone flagship handsets, and leave the subsequent market supply to be filled by third-party manufacturers using our operating system.
  • For financial institutions: receiving payments for financial services rendered in the ecosystem.
  • Applications requiring high throughput.
Hence f(x) Coin can be used as ‘currency’ for the below services,
  • In-app purchases
  • Blockchain calls
  • Smart contract creations
  • Transaction fees
  • Advertisements
  • Hosting fees
  • Borderless/cross-border transactions
We believe f(x) Coin utilization will be invariably higher than other coins in traditional chains due to the breadth of the f(x) ecosystem. This includes storage services and network resources on f(x) that will utilize the f(x) Coin as “fuel” for execution and validation of transactions.
Example 1: A developer creates a ride-hailing DApp called DUber.
DUber developer first uploads the image and data to IPFS (storage) and code to DDocker, respectively. The developer then pays for a decentralized code hosting service provided by the DDocker, and a decentralized file hosting service provided by the IPFS. Please note the storage hosting and code hosting services can be provided by a company, or by a savvy home user with smart nodes connected to the Function X ecosystem. Subsequently, a DUber user pays the developer.
Example 2: User Alice sends an imaginary token called ABCToken to Bob.
ABCToken is created using Function X smart contract. Smart nodes hosted at the home of Charlie help confirms the transaction, Charlie is paid by Alice (or both Alice and Bob).

The flow of f(x) Coin

Four main participants in f(x): Consumer (blue), Developer (blue), Infrastructure (blue), and Financial Service Provider (green)
Broadly speaking, there can be four main participants in the f(x) ecosystem, exhibited by the diagram above:
  • Consumer: Users enjoy the decentralized services available in the f(x) ecosystem
  • Infrastructure Service Provider: Providing infrastructures that make up the f(x) ecosystem such as those provided by mobile carriers, decentralized clouds services.
  • Developer: Building DApp on the f(x) network such as decentralized IT, hospitality and financial services apps.
  • Financial Service Provider: Providing liquidity for the f(x) Coin acting as an exchange.
The f(x) ecosystem’s value proposition:
  • Infrastructure service providers can offer similar services that they already are providing in other markets such as FXTP, DDocker and IPFS, to earn f(x) Coin.
  • Developers can modify their existing Android apps to be compatible with the f(x) OS environment effortlessly, and potentially earn f(x) Coin.
  • Developers, at the same time, also pay for the infrastructure services used for app creation.
  • Consumers immerse in the decentralized app environments and pay for services used in f(x) Coin.
  • Developer and infrastructure service providers can earn rewards in f(x) Coin by providing their services. They can also monetize it through a wide network of financial service providers to earn some profit, should they decide to do so.
Together, the four participants in this ecosystem will create a positive value flow. As the number of service providers grow, the quality of service will be enhanced, subsequently leading to more adoption. Similarly, more consumers means more value is added to the ecosystem by attracting more service providers,and creating f(x) Coin liquidity. Deep liquidity of f(x) Coin will attract more financial service providers to enhance the stability and quality of liquidity. This will attract more service providers to the ecosystem.
Figure: four main participants of the ecosystem The rationale behind f(x) Coin generation is the Proof of Service concept (PoS)
Service providers are crucial in the whole f(x) Ecosystem, the problem of motivation/facilitation has become our priority. We have to align our interests with theirs. Hence, we have set up a Tipping Jar (similar to mining) to motivate and facilitate the existing miners shift to the f(x) Ecosystem and become part of the infrastructure service provider or attract new players into our ecosystem. Income for service provider = Service fee (from payer) + Tipping (from f(x) network generation)
The idea is that the f(x) blockchain will generate a certain amount of f(x) Coin (diminishing annually) per second to different segments of service provider, such as in the 1st year, the f(x) blockchain will generate 3.5 f(x) Coin per second and it will be distributed among the infrastructure service provider through the Proof of Service concept. Every service provider such as infrastructure service providers, developers and financial service providers will receive a ‘certificate’ of Proof of Service in the blockchain after providing the service and redeeming the f(x) Coin.
Example: There are 3 IPFS providers in the market, and the total Tipping Jar for that specific period is 1 million f(x) Coin. Party A contributes 1 TB; Party B contributes 3 TB and Party C contributes 6 TB. So, Party A will earn 1/10 * 1 million = 100k f(x) Coin; Party B will earn 3/10 * 1 million = 300k f(x) Coin. Party C will earn 6/10 * 1 million = 600k f(x) Coin.
Note: The computation method of the distribution of the Tipping Jar might vary due to the differences in the nature of the service, period and party.
Figure: Circulation flow of f(x) Coin
The theory behind the computation.
Blockchain has integrated almost everything, such as storage, scripts, nodes and communication. This requires a large amount of bandwidth and computation resources which affects the transaction speed and concurrency metric.
In order to do achieve the goal of being scalable with high transaction speed, the f(x) blockchain has shifted out all the ‘bulky’ and ‘heavy duty’ functions onto other service providers, such as IPFS, FXTP, etc. We leave alone what blockchain technology does best: Calibration. Thus, the role of the Tipping Jar is to distribute the appropriate tokens to all participants.
Projected f(x) Coin distribution per second in the first year
According to Moore’s Law, the number of transistors in a densely integrated circuit doubles about every 18 -24 months. Thus, the performance of hardware doubles every 18-24 months. Taking into consideration Moore’s Law, Eric Schmidt said if you maintain the same hardware specs, the earnings will be cut in half after 18-24 months. Therefore, the normal Tipping Jar (reward) for an infrastructure service provider will decrease 50% every 18 months. In order to encourage infrastructure service providers to upgrade their hardware, we have set up another iteration and innovation contribution pool (which is worth of 50% of the normal Tipping Jar on the corresponding phase) to encourage the infrastructure service provider to embrace new technology.
According to the Andy-Bill’s law, “What Andy gives, Bill takes away”; software will always nibble away the extra performance of the hardware. The more performance a piece of hardware delivers, the more the software consumes. Thus, the developer will always follow the trend to maintain and provide high-quality service. The Tipping Jar will increase by 50% (based upon the previous quota) every 18 months.
Financial service providers will have to support the liquidation of the whole ecosystem along the journey, the Tipping Jar (FaaS) will increase by 50% by recognizing the contribution and encouraging innovation.
From the 13th year (9th phase), the Tipping Jar will reduce by 50% every 18 months. We are well aware that the “cliff drop” after the 12th year is significant. Hence, we have created a 3year (two-phase) diminishing transition period. The duration of each phase is 18 months. There are 10 phases in total which will last for a total of 15 years.
According to Gartner’s report, the blockchain industry is forecast to reach a market cap of
3.1 trillion USD in 2030. Hence, we believe a Tipping Jar of 15 years will allow the growth of Function X into the “mature life cycle” of the blockchain industry.

f(x) Coin / Token Allocation

Token allocation We believe great blockchain projects attempt to equitably balance the interests of different segments of the community. We hope to motivate and incentivize token holders by allocating a total of 65% of tokens from the Token Generation Event (TGE). Another 20% is allocated to the Ecosystem Genesis Fund for developer partnerships, exchanges and other such related purposes. The remaining 15% will go to engineering, product development and marketing. There will be no public or private sales for f(x) tokens.
NPXS / NPXSXEM is used to make crypto payments as easy as buying bottled water, while f(x) is used for the operation of a decentralized ecosystem and blockchain, consisting of DApps and other services. NPXS / NPXSXEM will continue to have the same functionality and purpose after the migration to the Function X blockchain in the future. Therefore, each token will be expected to assume different fundamental roles and grant different rights to the holders.
https://preview.redd.it/xohy6c6pprv21.png?width=509&format=png&auto=webp&s=a2c0bd0034805c5f055c3fea4bd3ba48eb59ff07
65% of allocation for NPXS / NPXSXEM holders is broken down into the following: 15% is used for staking (see below) 45% is used for conversion to f(x) tokens. (see below) 5% is used for extra bonus tasks over 12 months (allocation TBD).

https://preview.redd.it/6jmpfhmxprv21.png?width=481&format=png&auto=webp&s=c9eb2c124e0181c0851b7495028a317b5c9cd6b7
https://preview.redd.it/1pjcycv0qrv21.png?width=478&format=png&auto=webp&s=c529d5d99d760281efd0c3229edac494d5ed7750
Remarks All NPXS / NPXSXEM tokens that are converted will be removed from the total supply of NPXS / NPXSXEM; Pundi X will not convert company's NPXS for f(x) Tokens. This allocation is designed for NPXS/NPXSXEM long term holders. NPXS / NPXSXEM tokens that are converted will also be entitled to the 15% f(x) Token distribution right after the conversion.

Usage

Management of the Ecosystem Genesis Fund (EGF)
The purpose of setting up the Ecosystem Initialization Fund, is to motivate, encourage and facilitate service providers to join and root into the f(x) Ecosystem and, at the same time, to attract seed consumers to enrich and enlarge the f(x) Ecosystem. EIF comes from funds raised and will be used as a bootstrap mechanism to encourage adoption before the Tipping Jar incentives fully kicks in.
The EGF is divided into 5 parts:
  1. Consumer (10%): To attract consumers and enlarge the customer base;
  2. Developer (20%): To encourage developers to create DApps on the f(x) blockchain;
  3. Infrastructure Service Provider (20%): To set up or shift to the f(x) infrastructure;
  4. Financial Service Provider (20%): To create a trading platform for f(x) Coin and increase liquidity; and
  5. Emergency bridge reserve (30%): To facilitate or help the stakeholders in f(x) during extreme market condition
To implement the spirit of decentralization and fairness, the EGF will be managed by a consensus-based committee, called the f(x) Open Market Committee (FOMC).

Summary

Time moves fast in the technology world and even faster in the blockchain space. Pundi X’s journey started in October 2017, slightly over a year ago, and we have been operating at a lightning pace ever since, making progress that can only be measured in leaps and bounds. We started as a blockchain payment solution provider and have evolved into a blockchain service provider to make blockchain technology more accessible to the general public, thereby improving your everyday life.
The creation of Function X was driven by the need to create a better suited platform for our blockchain point-of sale network and through that process, the capabilities of Function X have allowed us to extend blockchain usage beyond finance applications like payment solutions and cryptocurrency.
The complete decentralized ecosystem of Function X will change and benefit organizations, developers, governments and most importantly, society as a whole.
The XPhone prototype which we have created is just the start to give everyone a taste of the power of Function X on how you can benefit from a truly decentralized environment. We envision a future where the XPOS, XPhone and other Function X-enabled devices work hand-in-hand to make the decentralized autonomous ecosystem a reality.
You may wonder how are we able to create such an extensive ecosystem within a short span of time? We are fortunate that in today’s open source and sharing economy, we are able to tap onto the already established protocols (such as Consensus algorithm, FXTP, etc), software (like Android, IPFS, PBFT, Dockers, etc.) and hardware (design knowledge from existing experts) which were developed by selfless generous creators. Function X puts together, aggregates and streamlines all the benefits and good of these different elements and make them work better and seamlessly on the blockchain. And we will pay it forward by making Function X as open and as decentralized as possible so that others may also use Function X to create bigger and better projects.
To bring Function X to full fruition, we will continue to operate in a transparent and collaborative way. Our community will continue to be a key pillar for us and be even more vital as we get Function X up and running. As a community member, you will have an early access to the Function X ecosystem through the f(x) token conversion.
We hope you continue to show your support as we are working hard to disrupt the space and re-engineer this decentralized world.

Reference

Practical Byzantine Fault Tolerance
http://pmg.csail.mit.edu/papers/osdi99.pdf
Byzantine General Problem technical paper
https://web.archive.org/web/20170205142845/http://lamport.azurewebsites.net/pubs/byz.pdf
Global mobile data revenues to reach $630 billion by 2020
https://www.parksassociates.com/blog/article/pr-07112016
NPXSXEM token supply
https://medium.com/pundix/a-closer-look-at-npxsxem-token-supply-843598d0e7b6
NPXS circulating token supply and strategic purchaser
https://medium.com/pundix/total-token-supply-and-strategic-investors-b41717021583
[total supply might differ from time to time due to token taken out of total supply aka “burn”]
ELC: SpaceX lessons learned (PBFT mentioned) https://lwn.net/Articles/540368/

Full: https://functionx.io/assets/file/Function_X_Concept_Paper_v2.0.pdf
submitted by crypt0hodl1 to PundiX [link] [comments]

Bitcoin Software Development Company in canada

As per the scenario of success of Bitcoin, many cryptocurrencies have comes in the picture such as Etherium, Litecoin, Dogecoin, Ripple, Peercoin, Primecoin, Namecoin, Quark and more. These are the just example but as a matter of fact, there are hundreds of cryptocurrencies available and also, on the other hand, new types of cryptocurrencies keep coming regularly. All those types of cryptocurrencies are based on the original Bitcoin source code.
Out of them, each cryptocurrency is run on the basis of cryptographic record known as the blockchain. For the past couple of years, the use of cryptocurrency has been raised and also raising day by day. This increased use has made the demand for many cryptographic wallets and also bitcoin storage apps. It would not surprise if the growth of cryptocurrency multiplies to itself what it is now. The main reason behind of growth in cryptographic wallets and bitcoin trading apps is its decentralization. Decentralized Blockchain Development is trendy at present and will remain in the future also with the rising usage of bitcoins and other cryptocurrencies. The most trending word like cryptocurrency is derived from the term cryptography which means to encrypt transactions.

Cryptocurrency has become global in Markets such as Banks, Governments, Companies and many more. Our motive is to convert the imaginary ideas into reality and to bring the ideas in the digital and in the mindset of local people. Digital money is what going to capture the market and nowadays it is known as the cryptocurrency. Our Experts provides the best ideas and solutions by their huge experience in the industry. Our development company provide stable, scalable and secured in terms. Also, We are Including with Blockchain services such as consensus algorithms, wallet creation, wallet APIs, and blockchain explorer creation.

Best Cryptocurrency Development company in canada
Our team of cryptocurrency development is expertise in developing cryptocurrencies with different blockchains, like Ethereum based, Litecoin fork, and Monero fork. We have continued working with the best cryptocurrencies developers around the world, gaining experiences to create unique solutions for your requirements.

Tokyotechie takes pride in being one of the leading Cryptocurrency Software Development to create a smooth and Flexible Cryptocurrency software.

Considered as the money which will use in the future, cryptocurrency is a digital asset developed to work as a reliable and flexible medium of exchange. Cryptography secures all types of Cryptocurrency transactions. With Bitcoins global success, numerous cryptocurrencies are entering the market and also have become popular for online investment.

Tokyotechie assists the entrepreneurs and enterprises with integrating of cryptocurrencies into their legacy system. Our Cryptocurrency Development Services will allow you to create your own cryptocurrency that will enable you and you will start to trade them as utility tokens or security tokens.

Cryptocurrency Development Services
TokyoTechie.com may well be a number one Cryptocurrency Development Services in canada ,Up to date with every new technology and innovation in the blockchain world, Our Expertise team is focused on building an outstanding computer-based protocol.

Our Cryptocurrency Development consists of :

Tokyotechie has an unbeatable reputation in the world of cryptocurrency development services. Our expertise in the cryptocurrency coin creation would help to build a secure, stable and independent digital currency tailored to your specifications.

Our Cryptocurrency Development Services

Bitcoin Wallet Application Development
We are a result-driven emerging IT organization dedicated to providing the best Bitcoin Wallet Application Development services. Our Expertise and Skilled developers have excelled in building Bitcoin wallet applications.

Bitcoin Exchange Platform
With an entrepreneurial mindset, if you wanted to be part of this massive technological revolution, then you should build your own Bitcoin exchange platform on priority. We can help you build a customized and excellent, fully branded and white-label service to start your own Bitcoin exchange within a short couple of days.

Blockchain, Smart Contracts, and Development
We are holding a pool of skillful Blockchain developers who have a huge experience in building cryptocurrency wallets that run flawlessly and smooth flow on Blockchain. We have also likewise some special expertise in Decentralized App Development and Smart Contracts.

ICO Development Services
We provide all-inclusive development support for your ICO. From conceptual token design and ICO smart contracts to website deployment and also maintenance of infrastructure for your ICO campaign.
submitted by nainaroy12 to u/nainaroy12 [link] [comments]

test

valid calls
//Functions-------------------//
+dogetoolbot SYMBOL value
+dogetoolbot AMOUNT SYMBOL value
+dogetoolbot SYMBOL volume
+dogetoolbot SYMBOL cap
+dogetoolbot convert AMOUNT SYMBOL to SYMBOL
+dogetoolbot spend AMOUNT CURRENCY(usd,eur,cad,cny,rub,btc) on SYMBOL
//Symbols----------------------------//
please try to break it
Update the tool bot no longer responds to garbage :) do it right or be ignored :)
submitted by MasterWillScarlet to dogetoolbot [link] [comments]

Why I believe in Loopring. Currency as an App.

"We're going to start treating currency as an application, and in order to do that we're going to need interfaces that allow us a unified currency experience, that allows us to have a single wallet with perhaps 150 different currencies in it......... and at a very low cost convert from bitcoin to Namecoin to Dogecoin to Ethereum"- Andreas M. Antonopoulos, The Internet of Money. This quote sums up why I believe in Loopring.
submitted by mali265 to loopringorg [link] [comments]

How do I convert a raw private key to WIF for Litecoin?

I recently recovered some private keys from a dead hard drive. I think some of them are Litecoin keys.
I wrote this script to convert Bitcoin keys to WIF (Wallet Import Format):
#!/bin/bash # Tool to convert bitcoin privkeys into WIF keys # by sudofox declare -a base58=( 1 2 3 4 5 6 7 8 9 A B C D E F G H J K L M N P Q R S T U V W X Y Z a b c d e f g h i j k m n o p q r s t u v w x y z ) convertToBase58() { echo -n "$1" | sed -e's/^\(\(00\)*\).*/\1/' -e's/00/1/g' | tr -d '\n' dc -e "16i ${1^^} [3A ~r d0 However, Litecoin WIF seems to be in a different format.
Documentation on how to actually do this seems sparse. What do I need to do differently to convert my recovered private keys into Litecoin's WIF?
Edit
Worked it out. Just need to change the part added to the beginning when creating the extended key.
Coin WIF prefix Bitcoin 0x80 Bitcoin Testnet 0xEF Dogecoin 0x9E Litecoin 0xB0 Namecoin 0xB4 
submitted by sudofox to litecoin [link] [comments]

New Idea: Peer 2 Peer, Decentralized Cryptocurrency Exchange

A powerful idea occurred to me earlier today that would benefit the state of cryptocurrencies immensely if it became a reality. A network where cryptocurrencies can be exchanged in a P2P fashion with a block chain type architecture similar to what cryptocoins use themselves. Decentralized and out of the control of any individual.
It cuts out the middle man and reduces the need for "exchanges". For example, you can trade Bitcoin for Litecoin, PPC, Namecoin, Feathercoin, or whatever other currency is supported without the need to pay any transaction fees or pay a "percentage" to an exchange. Direct trades from one person to another throughout the network. I would imagine the GUI would look like a crossbreed between the current QT wallet software coins are using and napster back in the good ole days.
It also opens up a whole new market for investing, without your spread difference.....bid/ask price, or any trade fees. A P2P exchange like this would only make crypto more popular because it would attract virtually every investor that currently trades on the Forex market. No spread = GG. It's a Forex traders wet dream.
Assuming this was created and ran smoothly, the only reason we would need any exchanges like Mt.Gox at all would be to convert crypto into fiat. There would still be an exchange fee for this of course but that's understandable. With the infrastructure finally getting put in place for BTC and LTC, it's quite feasible that we won't even need to trade crypto for fiat in order to pay for the things we need in daily life in the near future.
I'm sure I'm not alone in being able to appreciate this idea, and how awesome it would be for cryptocurrency in general. Alas, I'm not a programmer so I decided to put this out in reddit land, hoping a group of brilliant young minds see the value in the idea and actually create it.
submitted by CryptoManiac7 to CryptoCurrency [link] [comments]

[dogetoolbot] Get Nearly Instant Coin Conversion Estimates for any combination of over 100 cryptos now with dogetoolbot

Endless Combinations
+dogetoolbot convert 100000 doge to btc
you can use any of the shorthand symbols below in combination :)
submitted by MasterWillScarlet to dogecoin [link] [comments]

Greetings! Does anyone know of any other fine art galleries or fine art photographers who are accepting all major cryptocurrencies (Bitcoin/ Etherium) for their art?

Greetings! Does anyone know of any other fine art galleries or fine art photographers who are accepting all major cryptocurrencies (Bitcoin/ Etherium) for their art?
http://www.mcgucken.com/ http://facebook.com/mcgucken
Physicist Dr. Elliot McGucken's Epic Odyssey Mythology Fine Art Photography: The first fine art photography gallery to accept all major cryptocurrencies!
What cryptocurrencies and/or blockchain technologies are best suited to art and fine art? I would love to discuss the concept with them (or anyone!), as well as some new ideas regarding best practices. Thank you!
Physicist Dr. Elliot McGucken's Epic Odyssey Mythology Fine Art Photography: Now accepting: Bitcoin BTC : Litecoin LTC : AudioCoin ADC : BitBean BITB : BlackCoin BLK : Convert Explorer Faucet Breakout : BitSend BSD : CloakCoin CLOAK : Crown CRW : CureCoin CURE : Dash DASH : DubaiCoin DBIX : Decred DCR : Dogecoin DOGE : Ether Classic ETC : Ether ETH : Expanse EXP : FLASH FLC : GameCredits GAME : GCRCoin GCR : Goldcoin GLD : Gridcoin GRC : Groestlcoin GRS : InsaneCoin INSANE : LeoCoin LEO : LeoCoin (Old Chain) LEO.Old : MaidSafeCoin MAID : MonetaryUnit MUE : MonetaryUnit (Old Chain) MUE.Old : NAV Coin NAV : Convert Namecoin NMC : Nexus NXS : NXT NXT : Omni OMNI : PinkCoin PINK : PIVX PIVX : PoSW Coin POSW : PotCoin POT : Peercoin PPC : ProCurrency PROC : Pesobit PSB : Quark QRK : Steem Dollars SBD : SibCoin SIB : STEEM STEEM : Stratis STRAT : Syscoin SYS : TorCoin TOR : TetherUSD USDT : Voxels VOX : Vertcoin VTC : Monero XMR : PrimeCoin XPM : Spectrecoin XSPEC : VERGE XVG : ZCash ZEC : Litecoin Testnet LTCT!
Any other fine art galleries accepting major cryptocurrencies (Bitcoin/ Etherium) for art?
Thanks!
submitted by goldennumberratio to etherium [link] [comments]

New site for earning bitcoin and other cryptocurrencies

EarnCrypto (ref|non-ref)
Looks like they pay users from completing CrowdFlower tasks, watching videos, and downloading mobile apps. They reward you with "crypto points", which can be converted to bitcoin, litecoin, namecoin, gaia cash, imvu credits, secondlife linded, or stardollars. According to their site, 1000 crypto points = 1 US dollar, and the payout rates for the various cryptocurrencies vary according to exchange rates.
I haven't earned enough to cash out yet, so I can't confirm its legitimacy for sure, but I have started earning by watching videos, and it looks legitimate. Still, I'd recommend not using your coinbase email/password combo just to be safe
submitted by CLSmith15 to beermoney [link] [comments]

The Android Effect: A Possible Future of Cryptocurrency (long read)

Hello /cryptocurrency! I'm a miner, collector, and purveyor of fine Bitcoins and Altcoins, and I am fascinated with the concept of cryptocurrency as the next wave of world enlightenment.
You ever have one of those moments in the shower where everything becomes clear in one "A-HA!" moment? This is one of those for me.
I've been running a number of different things in my head because I believe, with the right set of circumstances, we're sitting on the cusp of cryptocurrency becoming an everyday household world.
But, we're not there yet. First, a brief history, and then where we need to go next.
1. Being the first to market, Bitcoin emulates current currency standards
Keep in mind, this is not a slight against BTC. This is merely an observation on my part.
Cryptocurrency was created with the idea that the central banking systems were flawed. It gave a small number of people a majority of control over the money, and whoever controls the money controls the world. When Satoshi created the Bitcoin concept (and the blockchain), he envisioned a free and open marketplace where no one bank controlled everything.
Problem is, that same behavior was emulated in the early adopters. A very small amount of people own more than half of the Bitcoins in circulation.. Given the opportunity, those people jumped on the chance to be the controlling interest. This scarcity drove up the price, and (combined with some mainstream press) made it impossible for the average joe to mine (further increasing scarcity). Which leads to...
2. Alternative Coins
The creation of other currencies allowed the developers to fix the "flaws" in the system (high-powered mining rigs, algorithm changes, etc). Litecoin, Dogecoin, Peercoin, Namecoin... all of these came from a desire to be a part of the crypto cause, without the steep barrier to entry that Bitcoin had created. And this was good: competition, as is the case in most other scenarios, means that the user has options. This is leading to a very interesting scenario: community currencies. Certain groups of people tend to gravitate toward similar ideals. Thought leaders in one group will champion one coin over another. This leads to a segmented group of currencies accepted by certain groups (not unlike the world currencies we have now - the only difference being socio-economical instead of geographical).
Which leads us to an upcoming problem: Cryptocurrency is experiencing what people call...
3. The Android Effect
Anyone familiar with the mobile phone tech scene knows what this means. Android, not unlike cryptocurrency, is gives you the ability to morph the mobile operating system into something that you have control over (you can style it how you want, with what apps and widgets you want). With this comes the idea of "segmentation" - different carriers having different versions of the same operating system. This may sound good in theory, but it means that developers have to create apps for 4 or 5 "flavors" of android instead of one unifying system.
Cryptocurrency is in this same state at the moment. To paraphrase what I mentioned above, different communities are accepting different coins (formed mostly around said coins, but that could change as time goes forward) which segments the cryptocurrency ideal, making it hard for the mainstream to accept.
It's hard enough to get a person to accept (for example) just Bitcoins. To throw in Litecoins, Namecoins, Dogecoins... it's a lot of work that creates a barrier to entry.
The wrong solution
The obvious solution would be to pick a coin standard, but that goes against the entire ideal that cryptocurrency represents. The joy of this is that you do get the freedom to choose your flavor, and to belong to that community.
And that brings me to the crux of this article. An idea I had in the shower that (I think) may help to turn cryptocurrency into what it truly is: a revolution.
The (IMO) Right Solution
Instead of a single unifying currency, we need a way to allow the segments to exist co-habitually, but still allow merchants and individuals to accept only the coins they choose to.
And that way, in my opinion, puts that power in the hands of the people it belongs to: the user.
We need an app that will work for multiple cryptocurrencies simultaneously.
Think about it: your wallet (you know, that thing in your back pocket) more than likely contains more than just cash. You have credit cards, cash, gift cards - in short, you have multiple types of currency. If you want to buy Dunkin Donuts coffee, you see if you still have a gift card. If not, you buy it with cash or credit.
Why can't crypto wallets work the same way?
We need a system that will convert cryptocurrency on-the-fly to the recipients choice of currency. A business only takes Bitcoins, but all you have is Litecoins? No problem: the app converts for you on the fly through an exchange service. Want to tip someone in dogecoins, but you only have Litecoins? Conversion, sending, done.
This allows people to keep the currency they love, and are connected to, and still join the cryptocurrency movement in whole by creating order between the various currencies.
I'm not a back-end coder guy. My forte is design and user experience, but if you're out there building something like this right now, I'll help you however I can.
I strongly believe, after months of watching, participating, and analyzing the community, that this is the most natural next steps.
And what of Android, of whom this effect is named after? They've started a bit of a unification process. For them, it's taking the various "base apps" and spinning them off to their own separate apps. This gives the user complete control over their own phone - the whole point of Android.

Whew! OK, so I'm tired after typing this. I'd love to hear your commentary, and (if I'm wrong) I'd love to know what your solution is.
We're all in this for the same reasons, whether you're Bitcoin, Litecoin, Dogecoin, or whatever... I think that this idea is worth exploring, so we can all enjoy the currency we hold and love.
submitted by studionashvegas to CryptoCurrency [link] [comments]

Wrapping my head around reddcoin and cryptocurrency in general (help)

Hello! I'm not necessarily new to the cryptoncurrency phenomenon, I first heard about bitcoins in 2010 and then I mined a couple of them in 2012( never exceeded 1 bitcoin though). I remember back then it was the "GPU" mining era, and it was fairly easy to make some bitcoins with AMD gaming video cards... I lost almost all of them on satoshi dice. I pulled my hair out in October 2013 when I saw the price of one bitcoin... I was not interested anymore.
These days something sparked in me and I started exploring the cryptocurrency scene again. Oh my gosh! What the heck happened? There's a gazillion of them! I've heard about litecoin, namecoin, dogecoin before but... Needless to say, I somehow landed on reddcoin's page and saw the video. Every currency promises something, but it seems to me that a lot of them exist in vain. I can sense the potential of this one, since everybody is so crazed about giving likes and that sort of stuff on social sites. And if it really takes off, I'd be excited to see it extending its nets not only on social sites, but also games and gaming platforms. Not that bitcoin is a problem, but it has such a high value that I always thought using a sub-unitary value like 0.(tons-of-0es)42 when trading is ugly. And 1 satoshi is a difficult value to think of.
Also, I've encountered some convenience problems. Now with so many services for wallets/exchanges/etc. it's hard to decide what to use. In the past I used multibit, but that's just because I was experimenting. I am now too, but I feel like I want something readily available wherever I go. I found mycellium, but unfortunately it seems that it's a local wallet, although being able to save it offline on paper is interesting. cryptonator seems nice, but I find having to use the 2-step authentication burdensome. What are your suggestions for a more... stable adress? I tried cryptonator because I thought it exchanges between all kinds of coins, including reddcoin and namecoin( I have some 0.18 leftover namecoins from the bitminter pool that would like to somehow transform in reddcoins), but it's not the case.
Which brings me to reddcoins. I did download the Reddcoin application, and made 30 reddcoins from faucets just to get me started. But then I thought "how is this supposed to be integrated with social sites and all the crazy stuff that's so nicely presented in that video?". I came here and understood that reddcoin is kinda in the IPO stage still, because it doesn't really deliver what it promises. I then saw that the reddWallet 1.0 was released and downloaded that. Do I simply transfer those 30 reddcoins from the reddcoin application to reddwallet? Are there any fees? Also, does reddwallet need the reddcoin application to run? How will this reddwallet be integrated with, say, Facebook or Youtube?
I also registered with the reddit tipping bot, and it seems fun, but what's the final purpose of all this if I can't invest these reddcoins in some goods? I understand if there's an easy way to convert reddcoins to bitcoins, since bitcoin is much more used worldwide and you can literally find everywhere at least a service or store that accepts bitcoins.
Thank you for your time, and let's hope for the best.
submitted by MrZeratul to reddCoin [link] [comments]

NamecoinGUI

Here's a Windows Namecoin GUI for managing your wallet and domain names. It also allows you to manage your bitcoin wallet as well. Switching between namecoin and bitcoin is as simple as clicking Tools -> Switch to, then choosing either Bitcoin or Namecoin. It's written in C# and requires the Microsoft .NET Framework 4. Let me know of any features you'd like to see implemented and of course, any bugs you come across.
If you are not interested in using it for bitcoin, just leave the bitcoind path empty.
Screenshot
NamecoinGUI-0.5.0.18 Download with MediaFire VirusTotal Report
NamecoinGUI-0.5.0.18-source Download with MediaFire VirusTotal Report
0.5.0.18 Fixed bug with the send fields causing an exception while the form is refreshing. Fixed namecoin address validation (bitcoin addresses were being treated as valid namecoin addresses). Fixed "Couldn't communicate with server" error when trying to send all coins. It now asks to try again with 0.0005 tx fee applied. Added context menu to transaction lists. Added transaction details. Either double-click or use the context menu. Added transaction alerts to context menu. Added success message after sending coins.
0.4.3.17 Disallowed new accounts named "Default". Suppressed "Couldn't communicate with deamon" message while starting the daemon. Tries to initially connect to the daemon every 10 seconds now instead of every 30 seconds. Adding "Refresh rate" to "Settings" form, default value set to 30 seconds. Fixed icon on "Settings" and "New Account" forms.
0.4.2.16 Fixed Send functionality which I completely broke in 0.4.1.15 Added currency and number globalisation support.
0.4.1.15 Fixed bug with form closing while controls are being updated. Disabled command controls while daemon is offline. Removed Send/Move Amount numeric input validation. Fixed Send/Move accounts not being updated immediately. Changed the default account name from being empty to "Default" in the tab lists. Fixed multiple "Couldn't communicate with deamon" messages when the deamon is taking longer than usual to start. Fixed account and transactions being filled before the information panel.
0.4.0.14 Undid 0.3.1.13 changes which caused the the GUI to freeze to while downloading the block chain. Fixed a bug stopping names from being registered. Implemented name_list. Implemented name_scan. Tidied up the GUI a bit. Only one deamon runs at a time now.
0.3.1.13 Code cleanup - removed background worker and delegates. Caused form freezing.
0.3.0.12 Added Bitcoin wallet support. Added domain name check, pre-order, registration and update functionality (converts to IDNA format when applicable).
0.2.0.7 Implemented minimize to tray.
0.1.0.6 Pretty much takes cares of the wallet management side of things. Removed the All transactions tab. Tidied up the code a bit.
0.0.0.5 Implemented account balances. Implemented send from account. Implemented moving coins between accounts. Implemented backup wallet.
0.0.0.4 New accounts and transactions show up immediately
submitted by GoldenBoar to namecoingui [link] [comments]

I rewrote the sidebar text

Markdown (source): First, Rev 1, Rev 2, Rev 3, Rev 4, Rev 5, Rev 6. Use RES or orangered me to get latest.
Changes (First->Latest): (excl. minor edits)
“third” to “fourth” “annum” to “year” Remove “to” Restore paragraph split Restore peerco.in since it's back online Numbered list to bullet points Edit descriptions of exchanges Update link Add marketplace Clean up Link to Bitcoin, Litecoin, and Namecoin Wikipedia pages (last Rev 6 edit) Link to Proof-of-{Stake,Work} explanations Edit cointip text Change FAQ/wiki links Add example screenshots Remove btcto.com until they come out of testing Add link to service list BTC-e now supports two-factor authentication Add Mt.Gox Add important facts link 
Screenshots: current sidebar vs suggested sidebar.
Comment with any suggestions or ideas you have.
PPCoin or Peercoin is the cryptocurrency with the fourth highest market cap after Bitcoin, Litecoin, and Namecoin. It is the first known iteration of a combined proof-of-stake/proof-of-work coin.
It is designed to be energy efficient in the long run, have a steady inflation rate of one percent per year, and (through proof-of-stake) be free of dependence on miners.
/PPCoin FAQ, wiki
Official website, FAQ, wiki
Wikipedia article
Important facts
Getting started
Walkthrough for Peercoin wallet setup
PPCoin.org faucet (free Peercoins)
PPCoinTalk marketplace
List of exchanges and other services
Exchanges
All support two-factor authentication.
Utilities
USD converter (peerco.in)
Cryptocurrency value tracker (altco.in)
Ticker for Chrome (Creator's announcement thread)
Ticker for Firefox (Creator on reddit)
Forums
PPCoinTalk.org
BitcoinTalk.org (alternative currencies section)
Related subreddits
PPCoinMining
Cryptocurrency
Litecoin
Bitcoin
BitcoinTip (Quick Start Guide)
ALTcoinTip
BitcoinTip and ALTcoinTip enabled on /PPCoin.
submitted by AnonymousEntity to ppcoin [link] [comments]

Any other fine art galleries accepting major cryptocurrencies (Bitcoin/ Ethereum) for art?

Greetings! Does anyone know of any other fine art galleries or fine art photographers who are accepting all major cryptocurrencies (Bitcoin/ Ethereum) for their art?
http://www.mcgucken.com/ http://facebook.com/mcgucken
Physicist Dr. Elliot McGucken's Epic Odyssey Mythology Fine Art Photography: The first fine art photography gallery to accept all major cryptocurrencies!
What cryptocurrencies and/or blockchain technologies are best suited to art and fine art? I would love to discuss the concept with them (or anyone!), as well as some new ideas regarding best practices. Thank you!
Physicist Dr. Elliot McGucken's Epic Odyssey Mythology Fine Art Photography: Now accepting: Bitcoin BTC : Litecoin LTC : AudioCoin ADC : BitBean BITB : BlackCoin BLK : Convert Explorer Faucet Breakout : BitSend BSD : CloakCoin CLOAK : Crown CRW : CureCoin CURE : Dash DASH : DubaiCoin DBIX : Decred DCR : Dogecoin DOGE : Ether Classic ETC : Ether ETH : Expanse EXP : FLASH FLC : GameCredits GAME : GCRCoin GCR : Goldcoin GLD : Gridcoin GRC : Groestlcoin GRS : InsaneCoin INSANE : LeoCoin LEO : LeoCoin (Old Chain) LEO.Old : MaidSafeCoin MAID : MonetaryUnit MUE : MonetaryUnit (Old Chain) MUE.Old : NAV Coin NAV : Convert Namecoin NMC : Nexus NXS : NXT NXT : Omni OMNI : PinkCoin PINK : PIVX PIVX : PoSW Coin POSW : PotCoin POT : Peercoin PPC : ProCurrency PROC : Pesobit PSB : Quark QRK : Steem Dollars SBD : SibCoin SIB : STEEM STEEM : Stratis STRAT : Syscoin SYS : TorCoin TOR : TetherUSD USDT : Voxels VOX : Vertcoin VTC : Monero XMR : PrimeCoin XPM : Spectrecoin XSPEC : VERGE XVG : ZCash ZEC : Litecoin Testnet LTCT!
Any other fine art galleries accepting major cryptocurrencies (Bitcoin/ Ethereum) for art?
Thanks!
submitted by goldennumberratio to Bitcoin_News [link] [comments]

Hocnet project update week of 6/23/12 Round 2

After speaking with Cjd he seems very open to the idea of paying for bandwidth and thinks that the only viable way for the mesh to have exit nodes that would not be legally crushed is to make hosting one profitable such that they can pay whatever legal fees are needed.
Currently he has a few ideas for a payment system, but did not give the impression of having one completed. We have in abundance what his team is missing, experience in economics, business and law.
His main issue at the current point is Bitcoin, being that its overhead is far too high for regular consumer routers. With custom hardware this ceases to be a concern but that simply brings it to a chicken and egg problem. But I think we could build a satisfactory solution using billers.
Clients make an account with the billers and deposit an amount, when they go to request bandwidth from a hop that hop either pings the biller to reserve the funds (such that the sender must have funds available and cant try to double spend) or if we can manage it the sender gets a bunch of 1 use tokens authorizing that amount such that the previous step can be preformed without requiring real time overheard communication with the biller, after that traffic is passed along as discussed, each hop hashes all the packets, then hashes all the packet hashes and sends that to the biller to compare with the same from the sender and other hops. As an idea to decrease recursion when there is a transmission to the biller all of the hashes and payment communication from the nodes should be passed forward such that all communications terminating at billers produce no more required traffic because billers can self terminate.
The amount of money the sender is 'good for' and prices would need to be in one unified currency, as such while making it a local fiat would be possible it would create difficulties and it may be better to peg the network to bitcoin for denominations or currency, the biller can convert between currencies and allow people to buy bandwith with their local currency. This keeps the bitcoin overhead only on the biller.
The sender pays for all communication (both to and from) a destination when it initiates the connection, the hops and the destination are responsible for paying to send the hashes and transaction info to the biller. We can't use namecoin for the bns because it suffers the same overhead issues as Bitcoin, but I was thinking we could have the biller sign the senders key or some other method of identifying that sender x belonged to biller y who was at address z without a name service.
submitted by ttk2 to hocnet [link] [comments]

Any other fine art galleries accepting major cryptocurrencies (Bitcoin/ Ethereum) for art?

Greetings! Does anyone know of any other fine art galleries or fine art photographers who are accepting all major cryptocurrencies (Bitcoin/ Ethereum) for their art?
http://www.mcgucken.com/ http://facebook.com/mcgucken
Physicist Dr. Elliot McGucken's Epic Odyssey Mythology Fine Art Photography: The first fine art photography gallery to accept all major cryptocurrencies!
What cryptocurrencies and/or blockchain technologies are best suited to art and fine art? I would love to discuss the concept with them (or anyone!), as well as some new ideas regarding best practices. Thank you!
Physicist Dr. Elliot McGucken's Epic Odyssey Mythology Fine Art Photography: Now accepting: Bitcoin BTC : Litecoin LTC : AudioCoin ADC : BitBean BITB : BlackCoin BLK : Convert Explorer Faucet Breakout : BitSend BSD : CloakCoin CLOAK : Crown CRW : CureCoin CURE : Dash DASH : DubaiCoin DBIX : Decred DCR : Dogecoin DOGE : Ether Classic ETC : Ether ETH : Expanse EXP : FLASH FLC : GameCredits GAME : GCRCoin GCR : Goldcoin GLD : Gridcoin GRC : Groestlcoin GRS : InsaneCoin INSANE : LeoCoin LEO : LeoCoin (Old Chain) LEO.Old : MaidSafeCoin MAID : MonetaryUnit MUE : MonetaryUnit (Old Chain) MUE.Old : NAV Coin NAV : Convert Namecoin NMC : Nexus NXS : NXT NXT : Omni OMNI : PinkCoin PINK : PIVX PIVX : PoSW Coin POSW : PotCoin POT : Peercoin PPC : ProCurrency PROC : Pesobit PSB : Quark QRK : Steem Dollars SBD : SibCoin SIB : STEEM STEEM : Stratis STRAT : Syscoin SYS : TorCoin TOR : TetherUSD USDT : Voxels VOX : Vertcoin VTC : Monero XMR : PrimeCoin XPM : Spectrecoin XSPEC : VERGE XVG : ZCash ZEC : Litecoin Testnet LTCT!
Any other fine art galleries accepting major cryptocurrencies (Bitcoin/ Ethereum) for art?
Thanks!
submitted by goldennumberratio to bitcoin_unlimited [link] [comments]

How about a lazier approach to distributed DNS?

One thing that's bothered me about namecoin is that it still allows speculation in domain names with early adopters getting more coins. Now, maybe that's just sour grapes, but domain name squatting really sucks in my opinion. In my view, a better approach to distributing scarce domain names is by having someone prove that they want it more. As with bitcoin, such proof can come in the form of expended computational effort.
Presuming that mining is not needed to distribute DNS records so long as most nodes are honest (and, bear in mind that with the existing primary DNS system changes can take a while to propogate through the system), then it seems that this appoach can be very easy: just sign the IP addresses with a bitcoin address which is also your domain name.
  1. But aren't bitcoin addresses 33-34 characters long? Yes they are. But you only need the prefix unless there's a conflict. Signing with 1FREEgFM1a61D7mmXEqWEjpfnMzxcSeYs4 allows you to use 1free.bit
  2. Don't all main network addresses start with 1? Yes. It's not hard to make a system smart enough to make that optional in the lookup. Signing with 1FREEgFM1a61D7mmXEqWEjpfnMzxcSeYs4 allows you to use 1free.bit or free.bit
  3. But bitcoin addresses don't have all the characters? So what? Just convert the missing characters to their alternatives before lookup. Things like hyphens can be automatically removed. Signing with 111ama... allows you to use llama.bit, signing with 1cokeo... allows you to use coke-0.bit
Given:
{ "payload":{"ips":["216.14.202.114","216.14.202.117"]}, "signature": "HP/jq//r4zF6XmYrJMJfQuj/nob8HRCyc6Ws4FK/EMLbjUfQqyY17vZTZwa3BOokBzbmNTnz8fEacUWrykwFalA=" } 
You can verify the signature for the payload at http://brainwallet.org/#verify
free.bit, 1free.bit, 1fr.bit, fr.bit, etc. would all resolve to the same address. If one primary address is needed, that could be included in the payload.
Since there is effort involved in finding a user-friendly bitcoin address prefix, those who want an address more will spend the effort.
What about conflicts?
There are two possibilities which make sense to me:
  1. Either the person with the lower address wins always (1FREE1... beats 1FREE2... as regards free.bit though one could always go to free2.bit) OR
  2. Once you get a name you have it for a certain amount of time, but you'd have to disallow multiple registries from the same address (e.g. 1FREE... couldn't register free.bit, fre.bit, fr.bit and f.bit).
Number 2 presents an additional issue with determining when something was registered and there's not really a cost for lying like there is when miners chain blocks. Thus I'm leaning toward the first option even though it's more turbulent. Still, people could register something quick and then spend a lot of time finding a really hard version to beat those who might snatch it up.
The primary advantages of this proposal are:
  1. It doesn't involve mining or special distributions of domains - whoever wants it more spends more effort.
  2. There are already solutions for mining vanity names
  3. It's easy to code and to verify. The only hardish part is nodes comparing differing versions and merging without causing too much traffic.
submitted by jdkeith to Bitcoin [link] [comments]

Why are people buying namecoins?

I originally had this as a comment in another thread, but I think it deserves its own thread. Right now namecoin difficulty is going down while bitcoin is going up. Bitcoins are limited in number, while the number of potential namecoins is infinite. In addition, registering a domain costs less the longer you wait to do it. So that tells me that the price of namecoins (and .bit domains) will never go up; will, in fact, continue to decline until they are virtually free.
So why are so many people buying namecoins now? Obviously enough are buying them to make namecoin mining profitable, and they can't all be being used to register domains. So some of them have to be buying in the hope of seeing a better return in the future. But I don't see how that return is possible. Are the people buying namecoins just suckers? (full disclosure: I have some left over after registering domains too. This question goes for me as much as anyone else. Should I just convert back to BTC and eat the loss before the price goes to .0001?)
submitted by MonkeyDeathCar to Namecoin [link] [comments]

ShapeShift Lens - From now on, every Bitcoin merchant on Earth accepts altcoins

Hello Bitcoiners,
Today ShapeShift.io launched something kinda cool... the ShapeShift Lens browser plugin.
This open-source browser plugin means that altcoin can be sent to any Bitcoin address that appears on a webpage (donations, BitPay or Coinbase invoices, merchant checkouts, exchange deposits, etc.)
More info + video: http://www.shapeshift.io/lens.html
Chrome Store: https://chrome.google.com/webstore/detail/shapeshift-lens/mhmibpkchfkofmjhfnblcpdaekcimoef
Open Source: https://github.com/Shapeshift-Public/shapeshift-lens
We believe this unifies cryptocurrency in a way that has never been done before. Overstock now accepts Dogecoin. BitPay now accepts Blackcoin. Coinbase now accepts Namecoin... and on and on.
Accepting altcoins which are automatically converted to Bitcoin is useful in the same way that accepting Bitcoins which are automatically converted to USD is useful. It makes cryptocurrency more liquid.
Spend you altcoins everywhere, enjoy!
-Your Humble ShapeShift Team
submitted by ShapeShift_io to Bitcoin [link] [comments]

SOPA/PIPA has passed and signed into law. What now?

I see everyone talking about trying to block the law, but did that work with the NDAA?
What if the bill passes? What is going to be the internet's strategy for survival then?
Opposing SOPA/PIPA is nice and all, but most people are turn off to politics. That is why a plan of action must be made for if/when the legislation passes.
I would start with something like Namecoin to deal with the DNS blackout.
There will be a great many hurdles to convert the internet to where it is not based on the current broken DNS implementation.
submitted by Xdes to PoliticalDiscussion [link] [comments]

SPECTROCOIN.COM Bitcoin Exchange, Wallet, Debit Card and Merchant solution

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We offer full support of DASH wallet as well.
Wallet API – easy RESTful API to send, receive bitcoins and DASH, exchange between currencies, initiate mass payments and more.
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Bitcoin exchange allows to buy and sell bitcoins versus more than 40 different currencies with over 20 payment options including:
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Bitcoin debit card allows spending bitcoin in any online or physical locations where VISA or MasterCard is accepted.
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Bitcoin payment processing enables merchants to easily accept bitcoin as a payment in their businesses.
API – We offer Merchant API to ease and simplify Bitcoin integration into your business. With Bitcoin Merchant API, we entrust you with your wallet management and give examples how Bitcoin integration works.
Bitcoin Payment Plugins – We offer Bitcoin payment gateway plugins for:
Payment Buttons – We have created payment buttons that allow you to accept donations from other people and your received bitcoins can be automatically converted to any currency you want, such as, USD, EUR, CHF, PLN and more.
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submitted by SpectroCoin-Support to bitcoin_uncensored [link] [comments]

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