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Day 9: I will post this guide regularly until available solutions like SegWit, order batching, and Lightning payment channels are mass adopted, the mempool is empty once again, and tx fees are low. Have you done your part?

BACKGROUND
Segregated Witness (SegWit) was activated on the Bitcoin network August 24 2017 as a soft fork that is backward compatible with previous bitcoin transactions (Understanding Segregated Witness). Since that time wallets and exchanges have been slow to deploy SegWit, and the majority of users have not made the switch themselves.
On Dec 18 2017 Subhan Nadeem has pointed out that: If every transaction in the Bitcoin network was a SegWit transaction today, blocks would contain up to 8,000 transactions, and the 138,000 unconfirmed transaction backlog would disappear instantly. Transaction fees would be almost non-existent once again.
Mass SegWit use alone could empty the mempool, result in blocks that are not completely full, and make it possible to include transactions with $0 fee once again.
On Jan 11 2018 when BTC sends went offline at Coinbase the mempool began to rapidly empty. Later in the day when service was restored there was a sharp spike up in the mempool. Subsequently, that afternoon Brian Armstrong finally had to break his silence on the topic and admitted Coinbase is working on SegWit but has still not deployed it. It appears that this is an important data point that indicates if just a few major exchanges would deploy SegWit the high fees bitcoin is experiencing would be eliminated.
SegWit is just one technique available to exchanges and users to reduce pressure on the Bitcoin network. You can make the switch to SegWit on your next transaction, and pressure exchanges to deploy SegWit NOW along with other actions that will reduce their transaction impact on the network. You can help by taking one or more of the action steps below.
ACTION STEPS
  1. If your favorite wallet has not yet implemented SegWit, kindly ask them to do so immediately. If your wallet is not committed to implementing SegWit fast, speak out online any way you can and turn up the pressure. In the meantime start using a wallet that has already implemented SegWit.
  2. If your favorite exchange has not yet implemented SegWit, try to avoid making any further purchases of bitcoin at that exchange and politely inform them that if they do not enable SegWit within 30-days they will lose your business. Sign-up for an account at a SegWit deployed/ready exchange now and initiate the verification process so you'll be ready to bail
  3. Help educate newcomers to bitcoin about the transaction issue, steer them towards SegWit wallets from day one, and encourage them to avoid ever purchasing bitcoin through non-SegWit ready exchanges that are harming bitcoin.
  4. Spread the word! Contact individuals, websites, etc that use bitcoin, explain the benefits of SegWit to everyone, and request they make the switch. Use social media to point out the benefits of SegWit adoption.
IMPORTANT NOTE: The mempool is currently still quite backlogged. If you are a long-term holder and really have no reason to move your bitcoins at this time, wait until the mempool starts to clear and transaction fees go down before moving your bitcoins to a SegWit address or SegWit friendly exchange.
BEYOND SEGWIT - BATCHING, PAYMENT CHANNELS, LIGHTNING
Batching is another great way that exchanges can reduce their fees. See: Saving up to 80% on Bitcoin transaction fees by batching payments. Despite the benefits of batching, some exchanges have been slow to implement it. Users should demand this or walk.
Beyond SegWit & Batching, Lightning Network integration will have even more effect. Lightning is now active and exchanges could setup payment channels between each other so that on-chain transactions need not take place. Some ideas have to outline how that might work are here: Google Doc - Lightning Exchanges. Which two bitcoin exchanges will be the first to establish a lightning channel between themselves and offer free/instant transfers between them for their customers? This will happen in 2018
MEMPOOL/SEGWIT STATISTICS
NEWS/DEVELOPMENTS/VICTORIES
SELECTED TOP EXCHANGES BY BATCHING & SEGWIT STATUS
Exchange Segwit Status Batching Status
Binance NOT READY Yes
Bitfinex Ready Yes
Bitonic Ready Yes
Bitstamp Deployed Yes
Bittrex ? Yes
Coinbase/GDAX NOT READY No
Gemini Ready No
HitBTC Deployed Yes
Huboi ? ?
Kraken Deployed Yes
LocalBitcoins Deployed Yes
OKEx ? ?
Poloniex ? Yes
QuadrigaCX Deployed Yes
Shapeshift Deployed No
Note: all exchanges that have deployed SegWit are currently only sending to p2sh SegWit addresses for now. No exchange will send to a bech32 address like the ones that Electrum generates
Source 1: BitcoinCore.org
Source 2: /Bitcoin
Official statements from exchanges:
SELECTED WALLETS THAT HAVE SEGWIT ALREADY
Make sure you have a SegWit capable wallet installed and ready to use for your next bitcoin transaction
SegWit Enabled Wallets Wallet Type
Ledger Nano S Hardware
Trezor Hardware
Electrum Desktop
Armory Desktop
Edge iOS
GreenAddress iOS
BitWallet iOS
Samourai Android
GreenBits Android
Electrum Android
SegWitAddress.org Paper
FAQs
If I'm a HODLer, will it help to send my BTC to a SegWit address now?
No, just get ready now so that your NEXT transaction will be to a SegWit wallet. Avoid burdening the network with any unnecessary transactions for now.
Why is SegWit adoption going so slowly? Is it a time-consuming process, is there risk involved, is it laziness, or something else?
SegWit will require some extra work to be done right and securely. Also, most exchanges let the user pay the fee, and up to now users have not been overly concerned about fees so for some exchanges it hasn't been a priority.
Once Segwit is FULLY adopted, what do we see the fees/transaction times going to?
Times stay the same - fees will go down. How much and for how long depends on what the demand for transactions will be at that time.
What determines bitcoin transaction fees, to begin with?
Fees are charged per byte of data and are bid up by users. Miners will typically include the transaction with the highest fee/byte first.
Can you please tell me how to move my bitcoins to SegWit address in Bitcoin core wallet? Does the sender or receiver matter?
The Bitcoin core wallet does not yet have a GUI for its SegWit functionality. Download the latest version of Electrum to generate a SegWit address.
A transaction between two SegWit addresses is a SegWit transaction.
A transaction sent from a SegWit address to a non-SegWit address is a SegWit transaction.
A transaction sent from a non-SegWit address to a SegWit address is NOT a SegWit transaction. You can send a SegWit Tx if the sending address is a SegWit address.
Source: HowToToken
What wallet are you using to "batch your sends"? And how can I do that?
Using Electrum, the "Tools" menu option: "Pay to many".
Just enter your receive addresses and the amounts for each, and you can send multiple transactions for nearly the price of one.
Why doesn't the Core Wallet yet support SegWit?
The Core Wallet supports SegWit, but its GUI doesn't. The next update will likely have GUI support built-in
Why isn't a large exchange like Coinbase SegWit ready & deployed when much smaller exchanges already are? Why do they default to high fees? Where is the leadership there?
Draw your own conclusions based on their own words:
March 2016 - Coinbase CEO Brian Armstrong has reservations about Core
Dec 2017 - Coinbase is STILL working on Segwit
P2SH/bech32 FAQs
What are the two SegWit address formats and why do they exist?
It's been a challenge for wallet developers to implement SegWit in a way that users can easily and without too much disruption migrate from legacy to SegWit addresses. The first wallets to enable SegWit addresses – Ledger, Trezor, Core, GreenAddress – use so-called “nested P2SH addresses.” This means they take the existing Pay 2 Script Hash address – starting with a “3” – and put a SegWit address into it. This enables a high grade of compatibility to exist wallets as every wallet is familiar with these addresses, but it is a workaround which results in SegWit transactions needing around 10 percent more space than they otherwise would.
Electrum 3.0 was the first wallet to use bech32 addresses instead of nested p2sh addresses.
Source: BTCManager.com
What is the difference in address format between SegWit address formats P2SH and bech32?
P2SH starts with "3..."
bech32 starts with "bc1..."
Which addresses can I send from/to?
P2SH Segwit addresses can be sent to using older Bitcoin software with no Segwit support. This supports backward compatibility
bech32 can only be sent to from newer Bitcoin software that support bech32. Ex: Electrum
Source: BitcoinTalk.org
Why did ThePirateBay put up two Bitcoin donation addresses on their frontpage, one bech32 and one not?
The address starting with a "3..." is a P2SH SegWit address that can be sent BTC from any bitcoin address including a legacy address. The address starting with a "bc1..." is a bech32 SegWit address that can only be sent to from newer wallets that support bech32.
SEGWIT BLOG GUIDES
PREVIOUS DAY'S THREADS
There's lots of excellent info in the comments of the previous threads:
submitted by Bastiat to Bitcoin [link] [comments]

Day 8: I will post this guide regularly until available solutions like SegWit, order batching, and Lightning payment channels are mass adopted, the mempool is empty once again, and tx fees are low. BTC Core SegWit GUI coming May 1, Coinbase incompetence exposed, more exchanges deploy SegWit

BACKGROUND
Segregated Witness (SegWit) was activated on the Bitcoin network August 24 2017 as a soft fork that is backward compatible with previous bitcoin transactions (Understanding Segregated Witness). Since that time wallets and exchanges have been slow to deploy SegWit, and the majority of users have not made the switch themselves.
On Dec 18 2017 Subhan Nadeem has pointed out that: If every transaction in the Bitcoin network was a SegWit transaction today, blocks would contain up to 8,000 transactions, and the 138,000 unconfirmed transaction backlog would disappear instantly. Transaction fees would be almost non-existent once again.
Mass SegWit use alone could empty the mempool, result in blocks that are not completely full, and make it possible to include transactions with $0 fee once again.
On Jan 11 2018 when BTC sends went offline at Coinbase the mempool began to rapidly empty. Later in the day when service was restored there was a sharp spike up in the mempool. Subsequently, that afternoon Brian Armstrong finally had to break his silence on the topic and admitted Coinbase is working on SegWit but has still not deployed it. It appears that the high fees bitcoin is experiencing could be easily addressed and need not exist.
SegWit is just one technique available to exchanges and users to reduce pressure on the Bitcoin network. You can make the switch to SegWit on your next transaction, and pressure exchanges to deploy SegWit NOW along with other actions that will reduce their transaction impact on the network. You can help by taking one or more of the action steps below.
ACTION STEPS
  1. If your favorite wallet has not yet implemented SegWit, kindly ask them to do so immediately. If your wallet is not committed to implementing SegWit fast, speak out online any way you can and turn up the pressure. In the meantime start using a wallet that has already implemented SegWit.
  2. If your favorite exchange has not yet implemented SegWit, try to avoid making any further purchases of bitcoin at that exchange and politely inform them that if they do not enable SegWit within 30-days they will lose your business. Sign-up for an account at a SegWit deployed/ready exchange now and initiate the verification process so you'll be ready to bail
  3. Help educate newcomers to bitcoin about the transaction issue, steer them towards SegWit wallets from day one, and encourage them to avoid ever purchasing bitcoin through non-SegWit ready exchanges that are harming bitcoin.
  4. Spread the word! Contact individuals, websites, etc that use bitcoin, explain the benefits of SegWit to everyone, and request they make the switch. Use social media to point out the benefits of SegWit adoption.
IMPORTANT NOTE: The mempool is currently still quite backlogged. If you are a long-term holder and really have no reason to move your bitcoins at this time, wait until the mempool starts to clear and transaction fees go down before moving your bitcoins to a SegWit address or SegWit friendly exchange.
BEYOND SEGWIT - BATCHING, PAYMENT CHANNELS, LIGHTNING
Batching is another great way that exchanges can reduce their fees. See: Saving up to 80% on Bitcoin transaction fees by batching payments. Despite the benefits of batching, some exchanges have been slow to implement it. Users should demand this or walk.
Beyond SegWit & Batching, Lightning Network integration will have even more effect. Lightning is now active and exchanges could setup payment channels between each other so that on-chain transactions need not take place. Some ideas have to outline how that might work are here: Google Doc - Lightning Exchanges. Which two bitcoin exchanges will be the first to establish a lightning channel between themselves and offer free/instant transfers between them for their customers? This will happen in 2018
MEMPOOL/SEGWIT STATISTICS
NEWS/DEVELOPMENTS/VICTORIES
SELECTED TOP EXCHANGES BY BATCHING & SEGWIT STATUS
Exchange Segwit Status Batching Status
Binance NOT READY Yes
Bitfinex Ready Yes
Bitonic Ready Yes
Bitstamp Deployed Yes
Bittrex ? Yes
Coinbase/GDAX NOT READY No
Gemini Ready No
HitBTC Deployed Yes
Huboi ? ?
Kraken Deployed Yes
LocalBitcoins Deployed Yes
OKEx ? ?
Poloniex ? Yes
QuadrigaCX Deployed Yes
Shapeshift Deployed No
Note: all exchanges that have deployed SegWit are currently only sending to p2sh SegWit addresses for now. No exchange will send to a bech32 address like the ones that Electrum generates
Source 1: BitcoinCore.org
Source 2: /Bitcoin
Official statements from exchanges:
SELECTED WALLETS THAT HAVE SEGWIT ALREADY
Make sure you have a SegWit capable wallet installed and ready to use for your next bitcoin transaction
SegWit Enabled Wallets Wallet Type
Ledger Nano S Hardware
Trezor Hardware
Electrum Desktop
Armory Desktop
Edge iOS
GreenAddress iOS
BitWallet iOS
Samourai Android
GreenBits Android
Electrum Android
SegWitAddress.org Paper
FAQs
If I'm a HODLer, will it help to send my BTC to a SegWit address now?
No, just get ready now so that your NEXT transaction will be to a SegWit wallet. Avoid burdening the network with any unnecessary transactions for now.
Why is SegWit adoption going so slowly? Is it a time-consuming process, is there risk involved, is it laziness, or something else?
SegWit will require some extra work to be done right and securely. Also, most exchanges let the user pay the fee, and up to now users have not been overly concerned about fees so for some exchanges it hasn't been a priority.
Once Segwit is FULLY adopted, what do we see the fees/transaction times going to?
Times stay the same - fees will go down. How much and for how long depends on what the demand for transactions will be at that time.
What determines bitcoin transaction fees, to begin with?
Fees are charged per byte of data and are bid up by users. Miners will typically include the transaction with the highest fee/byte first.
Can you please tell me how to move my bitcoins to SegWit address in Bitcoin core wallet? Does the sender or receiver matter?
The Bitcoin core wallet does not yet have a GUI for its SegWit functionality. Download the latest version of Electrum to generate a SegWit address.
A transaction between two SegWit addresses is a SegWit transaction.
A transaction sent from a SegWit address to a non-SegWit address is a SegWit transaction.
A transaction sent from a non-SegWit address to a SegWit address is NOT a SegWit transaction. You can send a SegWit Tx if the sending address is a SegWit address.
Source: HowToToken
What wallet are you using to "batch your sends"? And how can I do that?
Using Electrum, the "Tools" menu option: "Pay to many".
Just enter your receive addresses and the amounts for each, and you can send multiple transactions for nearly the price of one.
Why doesn't the Core Wallet yet support SegWit?
The Core Wallet supports SegWit, but its GUI doesn't. The next update will likely have GUI support built-in
Why isn't a large exchange like Coinbase SegWit ready & deployed when much smaller exchanges already are? Why do they default to high fees? Where is the leadership there?
Draw your own conclusions based on their own words:
March 2016 - Coinbase CEO Brian Armstrong has reservations about Core
Dec 2017 - Coinbase is STILL working on Segwit
P2SH/bech32 FAQs
What are the two SegWit address formats and why do they exist?
It's been a challenge for wallet developers to implement SegWit in a way that users can easily and without too much disruption migrate from legacy to SegWit addresses. The first wallets to enable SegWit addresses – Ledger, Trezor, Core, GreenAddress – use so-called “nested P2SH addresses.” This means they take the existing Pay 2 Script Hash address – starting with a “3” – and put a SegWit address into it. This enables a high grade of compatibility to exist wallets as every wallet is familiar with these addresses, but it is a workaround which results in SegWit transactions needing around 10 percent more space than they otherwise would.
Electrum 3.0 was the first wallet to use bech32 addresses instead of nested p2sh addresses.
Source: BTCManager.com
What is the difference in address format between SegWit address formats P2SH and bech32?
P2SH starts with "3..."
bech32 starts with "bc1..."
Which addresses can I send from/to?
P2SH Segwit addresses can be sent to using older Bitcoin software with no Segwit support. This supports backward compatibility
bech32 can only be sent to from newer Bitcoin software that support bech32. Ex: Electrum
Source: BitcoinTalk.org
Why did ThePirateBay put up two Bitcoin donation addresses on their frontpage, one bech32 and one not?
The address starting with a "3..." is a P2SH SegWit address that can be sent BTC from any bitcoin address including a legacy address. The address starting with a "bc1..." is a bech32 SegWit address that can only be sent to from newer wallets that support bech32.
SEGWIT BLOG GUIDES
PREVIOUS DAY'S THREADS
There's lots of excellent info in the comments of the previous threads:
submitted by Bastiat to Bitcoin [link] [comments]

Day 7: I will post this guide regularly until available solutions like SegWit & order batching are mass adopted, the mempool is empty once again, and tx fees are low. Do you want low tx fees, because this is how you get low tx fees

TL/DR
Bitcoin users can help lower transaction fees and improve bitcoin by switching to SegWit addresses and encourage wallets/exchanges to do the same.
SUMMARY
Segregated Witness (SegWit) was activated on the Bitcoin network August 24 2017 as a soft fork that is backward compatible with previous bitcoin transactions (Understanding Segregated Witness). Since that time wallets and exchanges have been slow to deploy SegWit, some admitting in December 2017 that they have not even started work on integrating it. Others, such as Zebpay in India have already implemented SegWit and are reaping the benefits of reduced transaction fees. If bitcoin users demand SegWit now it will temporarily relieve the transaction backlog while more even more advanced solutions such as Lightning are developed.
Batching is another great way that exchanges can reduce their fees. See: Saving up to 80% on Bitcoin transaction fees by batching payments. Despite the benefits of batching, some exchanges have been slow to implement it.
There is an opportunity now for all bitcoin users to individually contribute to help strengthen and improve the bitcoin protocol. At this point, the process requires a bit of work/learning on the part of the user, but in doing so you'll actually be advancing bitcoin and leaving what could turn out to be a multi-generational legacy for humanity.
MEMPOOL/SEGWIT STATISTICS
BACKGROUND
On Dec 18 Subhan Nadeem has pointed out that:
If every transaction in the Bitcoin network was a SegWit transaction today, blocks would contain up to 8,000 transactions, and the 138,000 unconfirmed transaction backlog would disappear instantly. Transaction fees would be almost non-existent once again.
A few thousand bitcoin users from /Bitcoin switching to making their next transactions SegWit transactions will help take pressure off the network now, and together we can encourage exchanges/wallets to rapidly deploy SegWit for everyone ASAP. Let's make 80%+ SegWit happen fast. You can help by taking one or more of the action steps below.
ACTION STEPS
  1. If your favorite wallet has not yet implemented SegWit, kindly ask them to do so immediately. In the meantime start using a wallet that has already implemented SegWit.
  2. If your favorite exchange has not yet implemented SegWit, try to avoid making any further purchases of bitcoin at that exchange and politely inform them that if they do not enable SegWit within 30-days they will lose your business. Sign-up for an account at a SegWit deployed/ready exchange now and initiate the verification process so you'll be ready to bail
  3. Help educate newcomers to bitcoin about the transaction issue, steer them towards SegWit wallets from day one, and encourage them to avoid ever purchasing bitcoin through non-SegWit ready exchanges that are harming bitcoin.
  4. Spread the word! Conact individuals, websites, etc that use bitcoin, explain the benefits of SegWit to everyone, and request they make the switch
IMPORTANT NOTE: The mempool is currently still quite backlogged. If you are a long-term holder and really have no reason to move your bitcoins at this time, wait until the mempool starts to clear and transaction fees go down before moving your bitcoins to a SegWit address or SegWit friendly exchange.
SELECTED TOP EXCHANGES BY BATCHING & SEGWIT STATUS
Exchange Segwit Status Batching Status
Binance NOT READY Yes
Bitfinex Ready Yes
Bitonic Ready Yes
Bitstamp Deployed Yes
Bittrex ? Yes
Coinbase/GDAX NOT READY No
Gemini Ready No
HitBTC Deployed Yes
Huboi ? ?
Kraken Deployed Yes
LocalBitcoins Ready Yes
OKEx ? ?
Poloniex ? Yes
QuadrigaCX Deployed Yes
Shapeshift Deployed No
Note: all exchanges that have deployed SegWit are currently only sending to p2sh SegWit addresses for now. No exchange will send to a bech32 address like the ones that Electrum generates
Source 1: BitcoinCore.org
Source 2: /Bitcoin
Official statements from exchanges:
SELECTED WALLETS THAT HAVE SEGWIT ALREADY
Make sure you have a SegWit capable wallet installed and ready to use for your next bitcoin transaction
SegWit Enabled Wallets Wallet Type
Ledger Nano S Hardware
Trezor Hardware
Electrum Desktop
Armory Desktop
Edge iOS
GreenAddress iOS
BitWallet iOS
Samourai Android
GreenBits Android
Electrum Android
SegWitAddress.org Paper
FAQs
If I'm a HODLer, will it help to send my BTC to a SegWit address now?
  • No, just get ready now so that your NEXT transaction will be to a SegWit wallet. Avoid burdening the network with any unneccessary transactions for now.
Why is SegWit adoption going so slowly? Is it a time-consuming process, is there risk involved, is it laziness, or something else?
  • SegWit will require some extra work to be done right and securely. Also, most exchanges let the user pay the fee, and up to now users have not been overly concerned about fees so for some exchanges it hasn't been a priority.
Once Segwit is FULLY adopted, what do we see the fees/transaction times going to?
  • Times stay the same - fees will go down. How much and for how long depends on what the demand for transactions will be at that time.
What determines bitcoin transaction fees, to begin with?
  • Fees are charged per byte of data and are bid up by users. Miners will typically include the transaction with the highest fee/byte first.
Can you please tell me how to move my bitcoins to SegWit address in Bitcoin core wallet? Does the sender or receiver matter?
  • The Bitcoin core wallet does not yet have a GUI for its SegWit functionality. Download Electrum v3.0.3 to generate a SegWit address.
    A transaction between two SegWit addresses is a SegWit transaction.
    A transaction sent from a SegWit address to a non-SegWit address is a SegWit transaction.
    A transaction sent from a non-SegWit address to a SegWit address is NOT a SegWit transaction. You can send a SegWit Tx if the sending address is a SegWit address.
    Source: HowToToken
What wallet are you using to "batch your sends"? And how can I do that?
  • Using Electrum, the "Tools" menu option: "Pay to many".
    Just enter your receive addresses and the amounts for each, and you can send multiple transactions for nearly the price of one.
Why doesn't the Core Wallet yet support SegWit?
  • The Core Wallet supports SegWit, but its GUI doesn't. The next update will likely have GUI support built-in
Why isn't a large exchange like Coinbase SegWit ready & deployed when much smaller exchanges already are? Why do they default to high fees? Where is the leadership there?
P2SH/bech32 FAQs
What are the two SegWit address formats and why do they exist?
  • It's been a challenge for wallet developers to implement SegWit in a way that users can easily and without too much disruption migrate from legacy to SegWit addresses. The first wallets to enable SegWit addresses – Ledger, Trezor, Core, GreenAddress – use so-called “nested P2SH addresses.” This means they take the existing Pay 2 Script Hash address – starting with a “3” – and put a SegWit address into it. This enables a high grade of compatibility to existing wallets as every wallet is familiar with these addresses, but it is a workaround which results in SegWit transactions needing around 10 percent more space than they otherwise would.
    Electrum 3.0 was the first wallet to use bech32 addresses instead of nested p2sh addresses.
    Source: BTCManager.com
What is the difference in address format between SegWit address formats P2SH and bech32?
  • P2SH starts with "3..."
    bech32 starts with "bc1..."
Which addresses can I send from/to?
  • P2SH Segwit addresses can be sent to using older Bitcoin software with no Segwit support. This supports backwards compatibility
    bech32 can only be sent to from newer Bitcoin software that support bech32. Ex: Electrum
    Source: BitcoinTalk.org
Why did ThePirateBay put up two Bitcoin donation addresses on their frontpage, one bech32 and one not?
  • The address starting with a "3..." is a P2SH SegWit address that can be sent BTC from any bitcoin address including a legacy address. The address starting with a "bc1..." is a bech32 SegWit address that can only be sent to from newer wallets that support bech32.
SEGWIT BLOG GUIDES
PREVIOUS DAY'S THREADS
There's lots of excellent info in the comments of the previous threads:
submitted by Bastiat to Bitcoin [link] [comments]

Day 6: I will post this guide regularly until available solutions like SegWit & order batching are mass adopted, the mempool is empty once again, and tx fees are low. Refer a friend to SegWit today. There's no $10 referral offer, but you'll both get lower fees and help strengthen the BTC protocol

TL/DR
Bitcoin users can help lower transaction fees and contribute to bitcoin by switching to SegWit addresses and encourage wallets/exchanges to do the same.
SUMMARY
Segregated Witness (SegWit) was activated on the Bitcoin network August 24 2017 as a soft fork that is backward compatible with previous bitcoin transactions (Understanding Segregated Witness). Since that time wallets and exchanges have been slow to deploy SegWit, some admitting in December 2017 that they have not even started work on integrating it. Others, such as Zebpay in India have already implemented SegWit and are reaping the benefits of reduced transaction fees. If bitcoin users demand SegWit now it will temporarily relieve the transaction backlog while more even more advanced solutions such as Lightning are developed.
Batching is another great way that exchanges can reduce their fees. See: Saving up to 80% on Bitcoin transaction fees by batching payments. Despite the benefits of batching, some exchanges have been slow to implement it.
There is an opportunity now for all bitcoin users to individually contribute to help strengthen and improve the bitcoin protocol. At this point, the process requires a bit of work/learning on the part of the user, but in doing so you'll actually be advancing bitcoin and leaving what could turn out to be a multi-generational legacy for humanity.
MEMPOOL/SEGWIT STATISTICS
BACKGROUND
On Dec 18 Subhan Nadeem has pointed out that:
If every transaction in the Bitcoin network was a SegWit transaction today, blocks would contain up to 8,000 transactions, and the 138,000 unconfirmed transaction backlog would disappear instantly. Transaction fees would be almost non-existent once again.
A few thousand bitcoin users from /Bitcoin switching to making their next transactions SegWit transactions will help take pressure off the network now, and together we can encourage exchanges/wallets to rapidly deploy SegWit for everyone ASAP. Let's make 80%+ SegWit happen fast. You can help by taking one or more of the action steps below.
ACTION STEPS
  1. If your favorite wallet has not yet implemented SegWit, kindly ask them to do so immediately. In the meantime start using a wallet that has already implemented SegWit.
  2. If your favorite exchange has not yet implemented SegWit, try to avoid making any further purchases of bitcoin at that exchange and politely inform them that if they do not enable SegWit within 30-days they will lose your business. Sign-up for an account at a SegWit deployed/ready exchange now and initiate the verification process so you'll be ready to bail
  3. Help educate newcomers to bitcoin about the transaction issue, steer them towards SegWit wallets from day one, and encourage them to avoid ever purchasing bitcoin through non-SegWit ready exchanges that are harming bitcoin.
  4. Spread the word! Conact individuals, websites, etc that use bitcoin, explain the benefits of SegWit to everyone, and request they make the switch
IMPORTANT NOTE: The mempool is currently still quite backlogged. If you are a long-term holder and really have no reason to move your bitcoins at this time, wait until the mempool starts to clear and transaction fees go down before moving your bitcoins to a SegWit address or SegWit friendly exchange.
SELECTED TOP EXCHANGES BY BATCHING & SEGWIT STATUS
Exchange Segwit Status Batching Status
Binance NOT READY Yes
Bitfinex Ready Yes
Bitonic Ready Yes
Bitstamp Deployed Yes
Bittrex ? Yes
Coinbase/GDAX NOT READY No
Gemini Ready No
HitBTC Deployed Yes
Huboi ? ?
Kraken Deployed Yes
LocalBitcoins Ready Yes
OKEx ? ?
Poloniex ? Yes
QuadrigaCX Deployed Yes
Shapeshift Deployed No
  • Note: all exchanges that have deployed SegWit are currently only sending to p2sh SegWit addresses for now. No exchange will send to a bech32 address like the ones that Electrum generates
Source 1: BitcoinCore.org
Source 2: /Bitcoin
Official statements from exchanges:
SELECTED WALLETS THAT HAVE SEGWIT ALREADY
Make sure you have a SegWit capable wallet installed and ready to use for your next bitcoin transaction
SegWit Enabled Wallets Wallet Type
Ledger Nano S Hardware
Trezor Hardware
Electrum Desktop
Armory Desktop
Edge iOS
GreenAddress iOS
BitWallet iOS
Samourai Android
GreenBits Android
Electrum Android
FAQs
If I'm a HODLer, will it help to send my BTC to a SegWit address now?
  • No, just get ready now so that your NEXT transaction will be to a SegWit wallet. Avoid burdening the network with any unneccessary transactions for now.
Why is SegWit adoption going so slowly? Is it a time-consuming process, is there risk involved, is it laziness, or something else?
  • SegWit will require some extra work to be done right and securely. Also, most exchanges let the user pay the fee, and up to now users have not been overly concerned about fees so for some exchanges it hasn't been a priority.
Once Segwit is FULLY adopted, what do we see the fees/transaction times going to?
  • Times stay the same - fees will go down. How much and for how long depends on what the demand for transactions will be at that time.
What determines bitcoin transaction fees, to begin with?
  • Fees are charged per byte of data and are bid up by users. Miners will typically include the transaction with the highest fee/byte first.
Can you please tell me how to move my bitcoins to SegWit address in Bitcoin core wallet? Does the sender or receiver matter?
  • The Bitcoin core wallet does not yet have a GUI for its SegWit functionality. Download Electrum v3.0.3 to generate a SegWit address.
    A transaction between two SegWit addresses is a SegWit transaction.
    A transaction sent from a SegWit address to a non-SegWit address is a SegWit transaction.
    A transaction sent from a non-SegWit address to a SegWit address is NOT a SegWit transaction. You can send a SegWit Tx if the sending address is a SegWit address.
    Source: HowToToken
What wallet are you using to "batch your sends"? And how can I do that?
  • Using Electrum, the "Tools" menu option: "Pay to many".
    Just enter your receive addresses and the amounts for each, and you can send multiple transactions for nearly the price of one.
Why doesn't the Core Wallet yet support SegWit?
  • The Core Wallet supports SegWit, but its GUI doesn't. The next update will likely have GUI support built-in
Why isn't a large exchange like Coinbase SegWit ready & deployed when much smaller exchanges already are? Why do they default to high fees? Where is the leadership there?
P2SH/bech32 FAQs
What are the two SegWit address formats and why do they exist?
  • It's been a challenge for wallet developers to implement SegWit in a way that users can easily and without too much disruption migrate from legacy to SegWit addresses. The first wallets to enable SegWit addresses – Ledger, Trezor, Core, GreenAddress – use so-called “nested P2SH addresses.” This means they take the existing Pay 2 Script Hash address – starting with a “3” – and put a SegWit address into it. This enables a high grade of compatibility to existing wallets as every wallet is familiar with these addresses, but it is a workaround which results in SegWit transactions needing around 10 percent more space than they otherwise would.
    Electrum 3.0 was the first wallet to use bech32 addresses instead of nested p2sh addresses.
    Source: BTCManager.com
What is the difference in address format between SegWit address formats P2SH and bech32?
  • P2SH starts with "3..."
    bech32 starts with "bc1..."
Which addresses can I send from/to?
  • P2SH Segwit addresses can be sent to using older Bitcoin software with no Segwit support. This supports backwards compatibility
    bech32 can only be sent to from newer Bitcoin software that support bech32. Ex: Electrum
    Source: BitcoinTalk.org
Why did ThePirateBay put up two Bitcoin donation addresses on their frontpage, one bech32 and one not?
  • The address starting with a "3..." is a P2SH SegWit address that can be sent BTC from any bitcoin address including a legacy address. The address starting with a "bc1..." is a bech32 SegWit address that can only be sent to from newer wallets that support bech32.
SEGWIT BLOG GUIDES
PREVIOUS DAY'S THREADS
There's lots of excellent info in the comments of the previous threads:
submitted by Bastiat to Bitcoin [link] [comments]

[PLEASE READ] ZClassic > BitcoinPrivate Snapshot/Fork Frequently Asked Questions (FAQ) MEGATHREAD 2.0

I’ve been seeing a lot of repeated questions being asked every day so an updated FAQ/Megathread to address all of those questions will be detailed here. If we are missing something, please feel free to let us know and we will add it. We will try to edit this posting as more information becomes available.
Keep in mind the official Bitcoin Private Support portal has now been launched. We have a live chat feature to chat with support, as well as a knowledge base. Please visit the portal at support.btcprivate.org and use the knowledge base’s search function before asking other users.
Snapshot/Fork FAQ
Claiming BTCP Coins
BTCP/ZCL Exchange and Wallet Support
Donations and Contributions program
BTCP Mining
Wallet Troubleshooting
Miscellaneous/BTCP Project Questions
Donate towards the BTCP contribution team, Your donations are 100% voluntary but they are much appreciated!
ZCL: t1gsePJZ6ojJYygj3PWMGJfojPUoMd5AVfU
BTC: 14Xmfm9jf4h1h4RXZBQCFK6i4LWibqWVPu
LTC: LNYzDrUeX6PSecu4sL4eZkuJGaSXnf8GUH
BTCP Related Important Links
For the official list of links from the BTCP Github, refer to the repo.
Just a re-iteration, the BTCP team has launched the support portal offering resources ranging from live support from our teams, as well as a knowledge base that is constantly being updated. https://support.btcprivate.org Again, please feel free to let me know any questions that’s not currently listed above and we will do our best to answer and include it in the megathread.
submitted by BestServerNA to ZClassic [link] [comments]

[PLEASE READ] ZClassic > BitcoinPrivate Snapshot/Fork Frequently Asked Questions (FAQ) MEGATHREAD 2.0

I’ve been seeing a lot of repeated questions being asked every day so an updated FAQ/Megathread to address all of those questions will be detailed here. If we are missing something, please feel free to let us know and we will add it. We will try to edit this posting as more information becomes available.
Keep in mind the official Bitcoin Private Support portal has now been launched. We have a live chat feature to chat with support, as well as a knowledge base. Please visit the portal at support.btcprivate.org and use the knowledge base’s search function before asking other users.
Snapshot/Fork FAQ
Claiming BTCP Coins
BTCP/ZCL Exchange and Wallet Support
Donations and Contributions program
BTCP Mining
Wallet Troubleshooting
Miscellaneous/BTCP Project Questions
Donate towards the BTCP contribution team, Your donations are 100% voluntary but they are much appreciated!
ZCL: t1gsePJZ6ojJYygj3PWMGJfojPUoMd5AVfU
BTC: 14Xmfm9jf4h1h4RXZBQCFK6i4LWibqWVPu
LTC: LNYzDrUeX6PSecu4sL4eZkuJGaSXnf8GUH
BTCP Related Important Links
For the official list of links from the BTCP Github, refer to the repo.
Just a re-iteration, the BTCP team has launched the support portal offering resources ranging from live support from our teams, as well as a knowledge base that is constantly being updated. https://support.btcprivate.org Again, please feel free to let me know any questions that’s not currently listed above and we will do our best to answer and include it in the megathread.
submitted by BestServerNA to BitcoinPrivate [link] [comments]

Cryptocurrency NEO-review and analysis of prospects

Cryptocurrency NEO-review and analysis of prospects

https://preview.redd.it/92i8bo3tm1v31.png?width=800&format=png&auto=webp&s=392f964144975e5e2e11a6ea784f6f03923017b3
The NEO digital asset platform was previously called Antshares. But in recent times, a complete rebranding has been made. In addition to the name change, the startup updated blockchain nodes and technical documentation, as well as the stock Ticker. In addition, the official website and social media were redesigned. The transition to a new version of the smart contract system, called NEO-2.0, was carried out.
The NEO cryptocurrency has been showing stable and non-stopping growth for a long time. Very quickly, the Chinese creation took seventh place in the top of Coinmarketcap. This, without a doubt, is a serious bid for prospects, given the high competition in the cryptocurrency market. And Ether confidently holds the second line after the famous Bitcoin. So the crypto currency NEO clearly has all the chances to rise much higher than the seventh line.
At the moment, the price fluctuates around $45. The cost for three months has increased 20 times.
The volumes of neo cryptocurrency reserves are clearly defined and limited to 100 million tokens. So far, only half of the available potential — 50 million tokens-is available on the market. So the crypto currency NEO clearly has all the chances to rise much higher than the seventh line.
The project is actively developing. OnChain cooperates with other players in the field of cryptocurrency and blockchain technologies. At the moment, there are connections with blockchain startups Coindash, Bancor, Agrello and others. The Chinese project Red Pulse has announced the creation of a financial research platform based on the NEO-2.0 smart contract system. Also, in cooperation with NEO, there is an intensive development of The Elastos operating system based on blockchain technologies.

THE history of the emergence and development of neo cryptocurrency

https://preview.redd.it/2f7c6ryop1v31.png?width=1280&format=png&auto=webp&s=300b03be2a471d857d7d22d5659f2a4ef74c5e8b
The date of origin of the project can be considered 2014. NEO Creator Da Hongfei is a Director of Shanghai-based OnChain. In 2014, onchain, according to Da Hongfei's idea, launches the AntShares blockchain project. On the basis of this platform, a cryptocurrency of the same name was also created.
Yes Junpei put to the company is simple, but a global problem. His goal was to build a fundamentally new system of financial interaction. This system should unite the sectors of the real and virtual economy into a single whole with the help of high-tech contracts. And cryptocurrency from OnChain should become a unit of payment for these contracts.
Soon OnChain enters into a contract for cooperation with the Wings blockchain project, as well as contracts with economic giants Microsoft and Alibaba.
In August 2017 begins the story of NEO already in its current form with the current name. Da Hongfei carried out a complete rebranding and technical modernization of the project. The rebranding was a huge success, and the price of cryptocurrency from OnChain soared 40 times.
But not without problems. On the fourth of September, the Chinese authorities adopt a package of sanctions laws against cryptocurrencies and ICO. It was a heavy blow, which at the time almost 2 times brought down the course of the brainchild of Hongfei. However, soon the NEO cryptocurrency moved away from the blow and began to confidently win back the lost positions. At the moment, OnChain is actively upgrading the product and simultaneously trying to find a compromise with the Chinese authorities for the legalization and quiet operation of its offspring.

Features and principle of operation NEO

https://preview.redd.it/tj1goppoq1v31.png?width=800&format=png&auto=webp&s=0c39d14754ba9dd99e2c6bfb692f0f7bdd6c1838
From a technical point of view, the Chinese cryptocurrency is very similar to Ethereum. The basis of the platform is the construction of smart contracts and their subsequent payment with tokens. Also an important part of the project is the ability to create new technologies based on the platform, as well as easy integration with other services.
Despite the fact that NEO is often called "Chinese Ether" and the fact that the Ether still occupies a higher position in the ratings, the product from OnChain has advantages that the Ether lacks. NEO is much more practical and functional. This, no doubt, opens up the potential to move the Airwaves in the ratings in the near future.
Let's see in detail how everything works. Transactions within the system are possible when paying a Commission. The Commission is paid in-system currency. That is, for the transaction you have to throw in the system additional "fuel". The developers of OnChain decided to create an additional in-system currency, called GAS, as a fuel (a means of paying commissions).
NEO mining is impossible. There is a final coin value of 100 million. 50 million thrown on the market during the ICO. The second half of the developers keep at home. However, GAS mining is possible. However, it occurs when holding coins in a purse. That is, the more tokens you have, the more GAS coins you can get to pay commissions. Today, 2000 coins in the wallet accumulate 1 coin GAS every twenty-four hours. Such mining is associated with the work of the network on the Proof-Of-Stake algorithm. Coins generate themselves. Without the use of farms of video cards and megawatts of electricity.

Like any cryptocurrency, NEO has advantages and disadvantages.
The benefits of NEO:
  • the publicity of the company and experienced team;
  • contracts and cooperation with corporate giants;
  • a wide functionality, much superior to the functionality of Ether (it is difficult for a simple person to understand what the salt is, but for a specialist NEO opens the widest horizons for development and operations);
  • activity in meetings and seminars;
  • active struggle of OnChain for legalization (although there are some problems with this now in China, however, there is a high probability that soon all issues with the government will be settled, which will attract large investors and significantly increase the already considerable capitalization of NEO).
The shortcomings of NEO:
  • all gas storage nodes belong to OnChain, that is, NEO is a centralized structure, although it is served as decentralized, this means that blockchains are in the hands of a narrow circle;
  • OnChain has the technical ability to monitor the transactions of coin owners, transmit information to the authorities, as well as personally block funds in users ' accounts and regulate the rate.
However, there are great economic and technical prospects for the development and increase in the price of the coin.

Difference between NEO and Bitcoin

https://preview.redd.it/qm9q0kmft1v31.png?width=1024&format=png&auto=webp&s=81bc03a4521b12f6e517b9ef8f905d8271041355
The main points that distinguish NEO from Bitcoin:

  • Direct mining of NEO is not feasible, you can only mine GAS to pay commissions.
  • Bitcoin mining depends on the power of the technical base of the miner. The larger the pool of farms from video cards, the more active is the production. In the NEO system, gas mining occurs exclusively due to the presence of coins in the wallet.
  • To organize a large Bitcoin mining requires large purchases of iron and organization of production (supply of high-power power supply line, cooling system, etc.). A direct injection of investment is sufficient for the development of GAS. Each purchased 2000 coins of "Chinese ether" will steadily accumulate exactly 1 coin of GAS per day.
  • Bitcoin has the most decentralized system of blockchains, as opposed to pseudo-centralization of NEO.
  • The processing speed of one NEO block is only 15 seconds. For bitcoin-as much as ten minutes. In the future, it is predicted to accelerate the processing of blocks for NEO to 1 second.
Despite the risks associated with the organization of blockchains, NEO remains a very promising platform in the cryptocurrency market.

NEO storage wallets

On the official NEO website you can find links to the following wallets.
  1. Wallet NEON-Wallet from the group of independent developers City of Zion. Quite good, but the factor of third-party development and the presence of bugs impose their risks.
  2. NEO-CLI. This wallet is recommended only for programmers and people who are good at command line.
  3. NEO-GUI. The best option for the average user. To use it, you need to download the application, synchronize the blockchains and make a backup of the wallet. All. Now you can safely carry out financial transactions using Chinese kryptonite.
There is also the option of storing directly on the exchanges, however it is risky. Also, holding coins on an exchange rather than in a personal NEO wallet will not generate GAS.

NEO: buying and sharing

https://preview.redd.it/5ovlowr3v1v31.png?width=750&format=png&auto=webp&s=ea4c20d0be463cbaaf14846db2355b77975cd296
NEO can be bought and sold on exchanges or exchanged in multi-currency wallets. The most famous exchanges:

  • Bittrex;
  • Binance;
  • CoinSpot;
  • YONBI;
  • JUBI;
  • Yuanbao;
  • 51szzc;
  • Yobtc.
As the value and popularity of NEO increases, a massive increase in trading platforms where you can buy or sell "Chinese Ether" is predicted.

Ways to get NEO

Unfortunately, at the moment there is no way FOR direct NEO mining in the manner of Bitcoins and Ether.
However, there is a way out. NEO cranes can be used. Cranes are resources where the user receives a cryptocurrency reward for performing certain tasks or participating in lotteries.
There is a high probability that if successful in the legalization negotiations, OneChain will provide additional ways to get their tokens.
As you can see, NEO is a very promising and rapidly developing cryptocurrency. And although the Chinese government has created some difficulties, on the example of Bitcoin, we see how high the rate of the crypto currency can rise if the factors interfering with the development disappear. So, the prospects of NEO are optimistic and you can risk investing in them.
submitted by AVAY11 to u/AVAY11 [link] [comments]

I wrote a 30,000 ft. "executive summary" intro document for cryptos. Not for you, for your non-technical parents or friends.

This document was originally written for my dad, an intelligent guy who was utterly baffled about the cryptocurrency world. The aim was to be extremely concise, giving a broad overview of the industry and some popular coins while staying non-technical. For many of you there will be nothing new here, but recognize that you are in the 0.001% of the population heavily into crypto technology.
I've reproduced it for Reddit below, or you can find the original post here on my website. Download the PDF there or hit the direct link: .PDF version.
Donations happily accepted:
ETH: 0x4e03Bf5CCE3eec4Ddae4d3d6aAD46ca4f198AeD6 BTC: 1GqWMZRRygRJJWYYTWHkAVoRcgyQHjgBMZ XMR: 42Y1S1KBoPk381kc7hA68zaiC78BxMoCADjLrFcTdWiE7ejhZc49s1t9i7P2EmTnHsLDiKoSUiogCbLVHXRJxjrCT4WG8ic XRB: xrb_1bpzh745s9kzk8ymfnks3jtdi65ayumdstokzd4yw4ohu3fopxmiocjcntcu 

Background

This document is purely informational. At the time of writing there are over 1000 cryptocurrencies (“cryptos”) in a highly volatile, high risk market. Many of the smaller “altcoins” require significant technical knowledge to store and transact safely. I advise you to carefully scrutinize each crypto’s flavor of blockchain, potential utility, team of developers, and guiding philosophy, before making any investment [1] decisions. With that out of the way, what follows are brief, extremely high-level summaries of some cryptos which have my interest, listed in current market cap order. But first, some info:
Each crypto is a different implementation of a blockchain network. Originally developed as decentralized digital cash, these technologies have evolved into much broader platforms, powering the future of decentralized applications across every industry in the global economy. Without getting into the weeds, [2] most cryptos work on similar principles:
Distributed Ledgers Each node on a blockchain network has a copy of every transaction, which enables a network of trust that eliminates fraud. [3]
Decentralized “Miners” comprise the infrastructure of a blockchain network. [4] They are monetarily incentivized to add computing power to the network, simultaneously securing and processing each transaction. [5]
Peer-to-peer Cryptos act like digital cash-- they require no third party to transact and are relatively untraceable. Unlike cash, you can back them up.
Global Transactions are processed cheaply and instantly, anywhere on Earth. Using cryptos, an African peasant and a San Francisco engineer have the same access to capital, markets, and network services.
Secure Blockchains are predicated on the same cryptographic technology that secures your sensitive data and government secrets. They have passed seven years of real-world penetration testing with no failures. [6]

Bitcoin (BTC)

The first cryptocurrency. As with first movers in any technology, there are associated pros and cons. Bitcoin has by far the strongest brand recognition and deepest market penetration, and it is the only crypto which can be used directly as a currency at over 100,000 physical and web stores around the world. In Venezuela and Zimbabwe, where geopolitical events have created hyperinflation in the centralized fiat currency, citizens have moved to Bitcoin as a de facto transaction standard. [7]
However, Bitcoin unveiled a number of issues that have been solved by subsequent cryptos. It is experiencing significant scaling issues, resulting in high fees and long confirmation times. The argument over potential solutions created a rift in the Bitcoin developer community, who “forked” the network into two separate blockchains amidst drama and politicking in October 2017. Potential solutions to these issues abound, with some already in place, and others nearing deployment.
Bitcoin currently has the highest market cap, and since it is easy to buy with fiat currency, the price of many smaller cryptos (“altcoins”) are loosely pegged to its price. This will change in the coming year(s).

Ethereum (ETH)

Where Bitcoin is a currency, Ethereum is a platform, designed as a foundational protocol on which to develop decentralized applications (“Dapps”). Anyone can write code and deploy their program on the global network for extremely low fees. Just like Twitter wouldn’t exist without the open platform of the internet, the next world-changing Dapp can’t exist without Ethereum.
Current Dapps include a global market for idle computing power and storage, peer-to-peer real estate transactions (no trusted third party for escrow), identity networks for governments and corporations (think digital Social Security card), and monetization strategies for the internet which replace advertising. Think back 10 years to the advent of smartphones, and then to our culture today-- Ethereum could have a similar network effect on humanity.
Ethereum is currently the #2 market cap crypto below Bitcoin, and many believe it will surpass it in 2018. It has a large, active group of developers working to solve scaling issues, [8] maintain security, and create entirely new programming conventions. If successful, platforms like Ethereum may well be the foundation of the decentralized internet of the future.

Ripple (XRP)

Ripple is significantly more centralized than most crypto networks, designed as a backbone for the global banking and financial technology (“fintech”) industries. It is a network for exchanging between fiat currencies and other asset classes instantly and cheaply, especially when transacting cross-border and between separate institutions. It uses large banks and remittance companies as “anchors” to allow trading between any asset on the network, and big names like Bank of America, American Express, RBC, and UBS are partners. The utility of this network is global and massive in scale.
It is extremely important to note that not all cryptos have the same number of tokens. Ripple has 100 Billion tokens compared to Bitcoin’s 21 Million. Do not directly compare price between cryptos. XRP will likely never reach $1k, [9] but the price will rise commensurate with its utility as a financial tool.
In some sense, Ripple is anathema to the original philosophical vision of this technology space. And while I agree with the cyberpunk notion of decentralized currencies, separation of money and state, this is the natural progression of the crypto world. The internet was an incredible decentralized wild west of Usenet groups and listservs before Eternal September and the dot-com boom, but its maturation affected every part of global society.

Cardano (ADA)

Cardano’s main claim to fame: it is the only crypto developed using academic methodologies by a global collective of engineers and researchers, built on a foundation of industry-leading, peer-reviewed cryptographic research. The network was designed from first-principles to allow scalability, system upgrades, and to balance the privacy of its users with the security needs of regulators.
One part of this ecosystem is the Cardano Foundation, a Swiss non-profit founded to work proactively with governments and regulatory bodies to institute legal frameworks around the crypto industry. Detractors of Cardano claim that it doesn’t do anything innovative, but supporters see the academic backing and focus on regulation development as uniquely valuable.

Stellar Lumens (XLM)

Stellar Lumens and Ripple were founded by the same person. They initially shared the same code, but today the two are distinct in their technical back-end as well as their guiding philosophy and development goals. Ripple is closed-source, for-profit, deflationary, and intended for use by large financial institutions. Stellar is open-source, non-profit, inflationary, and intended to promote international wealth distribution. As such, they are not direct competitors.
IBM is a major partner to Stellar. Their network is already processing live transactions in 12 currency corridors across the South Pacific, with plans to process 60% of all cross-border payments in the South Pacific’s retail foreign exchange corridor by Q2 2018.
Beyond its utility as a financial tool, the Stellar network may become a competitor to Ethereum as a platform for application development and Initial Coin Offerings (“ICOs”). The theoretical maximum throughput for the network is higher, and it takes less computational power to run. The Stellar development team is highly active, has written extensive documentation for third-party developers, and has an impressive list of advisors, including Patrick Collison (Stripe), Sam Altman (Y Combinator), and other giants in the software development community.

Iota (IOT)

Iota was developed as the infrastructure backbone for the Internet of Things (IoT), sometimes called the machine economy. As the world of inanimate objects is networked together, their need to communicate grows exponentially. Fridges, thermostats, self-driving cars, printers, planes, and industrial sensors all need a secure protocol with which to transact information.
Iota uses a “Tangle” instead of a traditional blockchain, and this is the main innovation driving the crypto’s value. Each device that sends a transaction confirms two other transactions in the Tanlge. This removes the need for miners, and enables unique features like zero fees and infinite scalability. The supply of tokens is fixed forever at 2.8*1015, a staggeringly large number (almost three thousand trillion), and the price you see reported is technically “MIOT”, or the price for a million tokens.

Monero (XMR)

The most successful privacy-focused cryptocurrency. In Bitcoin and most other cryptos, anyone can examine the public ledger and trace specific coins through the network. If your identity can be attached to a public address on that network, an accurate picture of your transaction history can be built-- who, what, and when. Monero builds anonymity into the system using strong cryptographic principles, which makes it functionally impossible to trace coins, [10] attach names to wallets, or extract metadata from transactions. The development team actively publishes in the cryptography research community.
Anonymous transactions are not new-- we call it cash. Only in the past two decades has anonymity grown scarce in the first-world with the rise of credit cards and ubiquitous digital records. Personal data is becoming the most valuable resource on Earth, and there are many legitimate reasons for law-abiding citizens to want digital privacy, but it is true that with anonymity comes bad actors-- Monero is the currency of choice for the majority of black market (“darknet”) transactions. Similarly, US Dollars are the main vehicle for the $320B annual drug trade. An investment here should be based on the underlying cryptographic research and technology behind this coin, as well as competitors like Zcash. [11]

RaiBlocks (XRB)

Zero fees and instantaneous transfer make RaiBlocks extremely attractive for exchange of value, in many senses outperforming Bitcoin at its original intended purpose. This crypto has seen an explosion in price and exposure over the past month, and it may become the network of choice for transferring value within and between crypto exchanges.
Just in the first week of 2018: the CEO of Ledger (makers of the most popular hardware wallet on the market) waived the $50k code review fee to get RaiBlocks on his product, and XRB got listed on Binance and Kucoin, two of the largest altcoin exchanges globally. This is one to watch for 2018. [12]

VeChain (VEN)

Developed as a single answer to the problem of supply-chain logistics, VeChain is knocking on the door of a fast-growing $8 trillion industry. Every shipping container and packaged product in the world requires constant tracking and verification. A smart economy for logistics built on the blockchain promises greater efficiency and lower cost through the entire process flow.
Don’t take my word for it-- VeChain has investment from PwC (5th largest US corporation), Groupe Renault, Kuehne & Nagel (world’s largest freight company), and DIG (China’s largest wine importer). The Chinese government has mandated VeChain to serve as blockchain technology partner to the city of Gui’an, a special economic zone and testbed for China’s smart city of the future. This crypto has some of the strongest commercial partnerships in the industry, and a large active development team.
  1. “Investment” is a misnomer. Cryptos are traded like securities, but grant you no equity (like trading currency).
  2. The weeds for Bitcoin: basic intro (1:36), non-technical explanation (5:24), Bitcoin 101 – Andreas Antonopoulos (23:51).
  3. It is impossible to double-spend or create a fake transaction, as each ledger is confirmed against every other ledger.
  4. Some utility token blockchains use DAG networks or similar non-linear networks which don’t require mining.
  5. In practice, these are giant warehouses full of specialized computers constantly processing transactions. Miners locate to the cheapest electricity source, and the bulk of mining currently occurs in China.
  6. Centralized second-layer exchange websites have been hacked, but the core technology is untouched.
  7. This effect has been termed "bitcoinization".
  8. The Ethereum roadmap shows moving from a Proof of Work (PoW) to Proof of Stake (PoS) consensus model.
  9. At $2.62 per XRP token, Ripple already commands a $100B market cap.
  10. After a January 2017 update.
  11. Monero uses ring signatures while Zcash uses ZK-SNARKs to create anonymity. Both have pros and cons.
  12. Note: all signs point to this crypto being renamed “Nano” in the coming weeks: nano.co.
submitted by jhchawk to CryptoCurrency [link] [comments]

Groestlcoin Release September 2018

Introduction

As always, the past 3 months since 22nd June have been crazy busy. The bears might still be around, but the show must go on and of course has not slowed the Groestlcoin development team in the slightest. Here’s a quick overview of what has already happened since the last release: - Integrated into the bitbns exchange, with the ability to buy Groestlcoin directly with the Indian Rupee. - Groestlcoin Rebrand Vote – Whilst there was much talk and push for a rebrand vote, the overall result was almost unanimously in favour of keeping our unique and conversation-starting name. With just 83 votes to Rebrand, and 2577 votes to No Rebrand. Thank you for all who voted, the funds raised are being used to fund ongoing hosting and development costs. - Integrated into the Cryptobridge exchange. Cryptobridge is a popular decentralised exchange where you always hold the private keys to your funds, only YOU have access to them. - Groestlcoin has been added to SimpleSwap – Groestlcoin can now be swapped with over 100 other cryptocurrencies, without signing up! - Groestlcoin has been added to UnoDax, one of the leading cryptocurrency exchanges in India, with TUSD, BTC and INR trading pairs. - Groestlcoin has been added to SwapLab.cc, where you can buy Groestlcoin using Bitcoin and over 50 other altcoins. Purchasing with VISA/Mastercard is coming VERY SOON. Discussed later: - Groestlcoin has been listed on #3 largest exchange in the world on volume, Huobi Global! More on this to come further on in the announcements. - Groestlcoin has been added to the Guarda Multi-Currency Wallet. - Groestlcoin has been added to Melis Multi-Device, Multi-Account, Multi-Platform, Multi-Signature advanced wallet! Already this list is far more than most other cryptocurrencies have achieved in the past 3 months. But this is just the tip of the iceberg of what has been developed.

What's been Happening?

GRSPay Released

We are so excited for this, that it has it's own separate reddit thread. Head over there now at https://www.reddit.com/groestlcoin/comments/9ikr5m/groestlcoin_releases_grspay/? to see more on this!
https://www.melis.io/assets/logo-navbar-4b6f0d372f15b2446d3fa4c68f346e4fb08ee113941186cee58fd6135f3f8b7d.svg

Melis Wallet

The the most advanced wallet for Bitcoin, Bitcoin Cash, Litecoin and now Groestlcoin.
With Melis you have the complete control of your bitcoins and private keys, you can define spending limits policies and make use of two or more factors authentication. Melis is open source, published on GitHub.

How Melis Works?

You can create as many accounts as you want. An account is a part of your wallet that can be customised to your requirements. You can choose how many co-signers are required to spend funds. The accounts are completely independent and act like separate wallets from each other but can be accessed via the same details. A core feature of Melis is the ability to set a ‘primary’ device. With this you can set an account as ‘Secure’ so it is only viewable (and accessible at all) from the Primary device. You can have a savings account hidden from the outside world whilst also having your ‘spending’ funds available on the go. With Melis you can create a multi-signature account between N people, where up to N signatures are required to sign a transaction, choosing if any of those should be mandatory.
Core Features:
https://guarda.co/assets/images/1PGo4ID.svg?1537791124643

Guarda Wallet

Safer than ever! Desktop Light Wallet - Anonymous and fast!
With Guarda Multi-currency Desktop Light Wallet you don’t need to register. Guarda has no access to your private keys or funds. You can receive, send, store, buy and exchange cryptocurrencies in complete anonymity and safety. All these features are available on Linux, Windows or MacOS. Choose the one that suits you!
More info about Guarda wallet on www.guarda.co
https://holytransaction.com/images/logo.png

Integrated into HolyTransaction

What is HolyTransaction?

HolyTransaction gives users access to the crypto world with a universal cryptocurrency wallet and instant exchange.

Features

For more information, visit Holy Transaction here.
https://www.groestlcoin.org/wp-content/uploads/2018/09/next-grs-groestlcoin.jpg

Integrated into NEXT Wallet

What is NEXT?

NEXT is a modern, next-generation stylish open-source Desktop wallet.

Features

For more information, visit NextWallet here.
https://blockchainfinancial.com/mediaserve2018/09/admin-06143647-bcf_logo_vec_256x256.png

Integrated into Blockchain Financial

What is Blockchain Financial?

Blockchain Financial is a set of web based services for individuals and companies that want to make things happen with the Cryptocurrencies Ecosystem. - For those that don't know anything about cryptocurrencies, we offer tools that will let them receive, send and operate with an assortment of coins. - For those that are already riding the wave, we offer tools that will let them do all those things that they weren't able to do.

Blockchain Financials mission

We're not here to reinvent the wheel. We're here to make it run smoother for you, and we provide some of the most useful services you'll find on the internet, made in a way that is easy to understand and use on a daily basis. In short, we're a bunch of people that claim to be Crypto Evangelists. We strongly believe in cryptocurrencies, and our main promise is to push them up so more people get involved and take all the advantages they offer.

More information from Blockchain Financial

Back in 2014, the world was taken by storm when Facebook approved the first cryptocurrencies tipping apps. The first was for Dogecoin, and the second was for multiple coins.
The project was hosted on whitepuma.net, and persisted for almost two years, built up a massive user community and gave a home to Bitcoin, Litecoin, Dogecoin and dozens of other bitcoin-based altcoins.
After very active months, the tipping hype started to fade away. Then, the developers decided to jump into the next stage: bringing not only tipping, but also mining and a widget that could be embedded on websites to allow everyone to accept payments. Sadly, the work was never completed because the project started to require an unsustainable amount of resources. Then, in a painful decision, a shutdown was announced by December 2015.
A couple of months after whitepuma.net was closed, the source code was released by its creator as Open Source on GitHub. But it wasn't maintained.
Now, some of the original members of the dev and admin teams gathered up with a handful of the WhitePuma's elite users, and decided to make something good with the best pieces of the old source code. That, with fresh new ideas and the power of the BardCanvas engine, synthesized the core of Blockchain Financial.
More info about Blockchain Financial wallet on .
For more information, visit [Blockchain Financial](www.blockchainfinancial.com)
https://www.huobi.com/image/logo.aeb4723.svg

Groestlcoin Listed on Huobi

Who are Huobi?

Huobi was founded in China and is now based in Singapore, with offices in Hong Kong, South Korea, Japan and the North America, currently sitting #3 in volume on Coinmarketcap. Huobi is a great leap forward for our growing presence in Asia and we are very excited to be listed here!
You can find the official Huobi announcement here.

Groestlcoin Core v2.16.3 - Please Update ASAP

A new major Groestlcoin Core version 2.16.3 is now available for download which includes both a Denial of Service component and a critical inflation vulnerability, so it is recommended to upgrade to it if you are running a full Groestlcoin node or a local Groestlcoin Core wallet.
v2.16.3 is now the official release version of Groestlcoin Core. This is a new major version release with a very important security updates. It is recommended to upgrade to this version as soon as possible. Please stop running versions of Groestlcoin Core affected by CVE-2018-17144 ASAP: These are 2.13.3 and 2.16.0.
As a result in this, all exchanges and services have been asked to upgrade to this version, so please be patient if wallets go in to maintenance mode on these services.

What's new in version v2.16.3?

This is a major release of Groestlcoin Core fixing a Denial of Service component and a critical inflation vulnerability (https://nvd.nist.gov/vuln/detail/CVE-2018-17144) exploitable by miners that has been discovered in Groestlcoin Core version 2.13.3 and 2.16.0. It is recommended to upgrade to 2.16.3 as soon as possible. If you only occasionally run Groestlcoin Core, then it's not necessary to run out and upgrade it right this second. However, you should upgrade it before you next run it. If you know anyone who is running an older version, tell them to upgrade it ASAP. Stored funds are not at risk, and never were at risk. At this time we believe over half of the Groestlcoin hashrate has upgraded to patched nodes. We are unaware of any attempts to exploit this vulnerability. However, it still remains critical that affected users upgrade and apply the latest patches to ensure no possibility of large reorganizations, mining of invalid blocks, or acceptance of invalid transactions occurs.

The Technicals

In Groestlcoin Core 2.13.3, an optimization was added (Bitcoin Core PR #9049) which avoided a costly check during initial pre-relay block validation that multiple inputs within a single transaction did not spend the same input twice which was added in 2012 (Bitcoin Core PR #443). While the UTXO-updating logic has sufficient knowledge to check that such a condition is not violated in 2.13.3 it only did so in a sanity check assertion and not with full error handling (it did, however, fully handle this case twice in prior to 2.1.0.6). Thus, in Groestlcoin Core 2.13.3, any attempts to double-spend a transaction output within a single transaction inside of a block will result in an assertion failure and a crash, as was originally reported. In Groestlcoin Core 2.16.0, as a part of a larger redesign to simplify unspent transaction output tracking and correct a resource exhaustion attack the assertion was changed subtly. Instead of asserting that the output being marked spent was previously unspent, it only asserts that it exists. Thus, in Groestlcoin Core 2.16.0, any attempts to double-spend a transaction output within a single transaction inside of a block where the output being spent was created in the same block, the same assertion failure will occur. However, if the output being double-spent was created in a previous block, an entry will still remain in the CCoin map with the DIRTY flag set and having been marked as spent, resulting in no such assertion. This could allow a miner to inflate the supply of Groestlcoin as they would be then able to claim the value being spent twice.
Groestlcoin would like to publicly thank Reddit user u/Awemany for finding CVE-2018-17144 and reporting it (https://lists.linuxfoundation.org/pipermail/bitcoin-core-dev/2018-Septembe000064.html). You deserve gratitude and appreciation from cryptoworld, and you have ours. If you want to support him for his work, please consider donating to him on his bitcoin cash address: bitcoincash:qr5yuq3q40u7mxwqz6xvamkfj8tg45wyus7fhqzug5
http://i.imgur.com/3YhyNZK.png

Groestlcoin Electrum-GRS 3.2.2 - Ledger & Trezor Edition

What is Electrum-GRS?
Electrum-GRS is a lightweight "thin client" groestlcoin wallet Windows, MacOS and Linux based on a client-server protocol. Its main advantages over the original Groestlcoin client include support for multi-signature wallets and not requiring the download of the entire block chain.

Changes:

http://i.imgur.com/3YhyNZK.png

Electrum-GRS Mobile Android

What is Electrum-GRS Mobile?

Electrum-grs is a lightweight "thin client" groestlcoin wallet Android based on a client-server protocol. Its main advantages over the original Groestlcoin client include support for multi-signature wallets and not requiring the download of the entire block chain.

Changes

Groestlcoin EasyVanity Released

Groestlcoin EasyVanity is a Windows app is built from the ground-up in C# and makes it easier than ever before to create your very own bespoke Groestlcoin address(es), even whilst not connected to the internet! You can even generate multiple keys with the same prefix and leave it on overnight whilst your CPU or GPU collects and stores these addresses locally.
If you're tired of the random, cryptic addresses generated by regular groestlcoin clients, then Groestlcoin EasyVanity is the right choice for you to create a more personalized address.

Features

• Ability to continue finding keys after first one is found • Includes warning on startup if connected to the internet • Ability to output keys to a text file (And shows button to open that directory) • Ability to make your match case sensitive (Where possible) • Show and hide the private key with a simple toggle switch, and copy the private key straight to your clipboard • Show full output of commands • Includes statistics whilst the application is running • Ability to choose between Processor (CPU) and Graphics Card (GPU) • Automatically detects 32 or 64 bit systems • Features both a Light and Dark Material Design inspired Themes • EasyVanity's search is probabilistic, and the amount of time required to find a given pattern depends on how complex the pattern is, the speed of your computer, and whether you get lucky. • EasyVanity includes components to perform address searching on your CPU (vanitygen) and your OpenCL-compatible GPU (oclvanitygen). Both can be built from source, and both are included in the Windows binary package. • Prefixes are exact strings that must appear at the beginning of the address. When searching for prefixes, Easyvanity will ensure that the prefix is possible, and will provide a difficulty estimate. • The percentage displayed just shows how probable it is that a match would be found in the session so far. If it finds your address with 5% on the display, you are extremely lucky. If it finds your address with 92% on the display, you are unlucky. If you stop EasyVanity with 90% on the display, restart it, and it finds your address with 2% on the display, your first session was unlucky, but your second session was lucky. • EasyVanity uses the OpenSSL random number generator. This is the same RNG used by groestlcoin and a good number of HTTPS servers. It is regarded as well-scrutinized. Guessing the private key of an address found by EasyVanity will be no easier than guessing a private key created by groestlcoin itself. • To speed up address generation, EasyVanity uses the RNG to choose a private key, and literally increments the private key in a loop searching for a match. As long as the starting point is not disclosed, if a match is found, the private key will not be any easier to guess than if every private key tested were taken from the RNG. EasyVanity will also reload the private key from the RNG after 10,000,000 unsuccessful searches (100M for oclvanitygen), or when a match is found and multiple patterns are being searched for. • Free software - MIT. Anyone can audit the code. • Written in C# - The code is short, and easy to review.

Groestlcoin Sentinel (Android & Blackberry) – Mainnet + Testnet

What is Sentinel?

Groestlcoin Sentinel is the easiest and fastest way to track/receive/watch payments in your offline Groestlcoin Wallets. Groestlcoin Sentinel is compatible with any standard Groestlcoin address, BIP44 XPUB (Extended Public Key) BIP49 YPUB and BIP84 ZPUB
Groestlcoin Sentinel is a great solution for anyone who wants the convenience and utility of a hot wallet for receiving payments directly into their cold storage (or hardware wallets). Sentinel accepts XPUB's, YPUB'S, ZPUB's and individual Groestlcoin address. Once added you will be able to view balances, view transactions, and (in the case of XPUB's, YPUB's and ZPUB's) deterministically generate addresses for that particular wallet.

What's New?

The P2SH paperwallet supports creating P2SH paperwallets in bulk, keypair generation with QR codes and sweeping tool. Groestlcoin believes strongly in privacy, the live version does not collect and store IP or transaction data.
Changes
Features
The BECH32 paperwallet supports creating BECH32 paperwallets in bulk, keypair generation with QR codes and sweeping tool. Groestlcoin believes strongly in privacy, the live version does not collect and store IP or transaction data.
Features
![WebWallet](https://i.imgur.com/Z2oj7bj.png)

Groestlcoin Web Wallet Update 1.4

What is Groestlcoin Web Wallet?
Groestlcoin Webwallet is an open source, multisignature, HD Wallet and more! Webwallet is a a open source browser based Groestlcoin webwallet.
Webwallet is a playground for Groestlcoin in javascript to experiment with. It supports multisig, OP_HODL, RBF and many more. Groestlcoin believes strongly in privacy, the live version does not collect and store IP or transaction data.
Changes:
submitted by Yokomoko_Saleen to groestlcoin [link] [comments]

Information and FAQ

Hi, for everyone looking for help and support for IOTA you have come to the right place. Please read this information, the FAQ and the side bar before asking for help.

Information

IOTA

IOTA is an open-source distributed ledger protocol launched in 2015 that goes 'beyond blockchain' through its core invention of the blockless ‘Tangle’. The IOTA Tangle is a quantum-resistant Directed Acyclic Graph (DAG), whose digital currency 'iota' has a fixed money supply with zero inflationary cost.
IOTA uniquely offers zero-fee transactions & no fixed limit on how many transactions can be confirmed per second. Scaling limitations have been removed, since throughput grows in conjunction with activity; the more activity, the more transactions can be processed & the faster the network. Further, unlike blockchain architecture, IOTA has no separation between users and validators (miners / stakers); rather, validation is an intrinsic property of using the ledger, thus avoiding centralization.
IOTA is focused on being useful for the emerging machine-to-machine (m2m) economy of the Internet-of-Things (IoT), data integrity, micro-/nano- payments, and other applications where a scalable decentralized system is warranted.
More information can be found here.

Non reusable addresses

Contrary to traditional blockchain based systems such as Bitcoin, where your wallet addresses can be reused, IOTA's addresses should only be used once (for outgoing transfers). That means there is no limit to the number of transactions an address can receive, but as soon as you've used funds from that address to make a transaction, this address should not be used anymore.
The reason for this is, by making an outgoing transaction a part of the private key of that specific address is revealed, and it opens the possibility that someone may brute force the full private key to gain access to all funds on that address. The more outgoing transactions you make from the same address, the easier it will be to brute force the private key.
It should be noted that having access to the private key of an address will not reveal your seed or the private key of the other addresses within your seed / "account".
This piggy bank diagram can help visualize non reusable addresses. imgur link

Address Index

When a new address is generated it is calculated from the combination of a seed + Address Index, where the Address Index can be any positive Integer (including "0"). The wallet usually starts from Address Index 0, but it will skip any Address Index where it sees that the corresponding address has already been attached to the tangle.

Private Keys

Private keys are derived from a seeds key index. From that private key you then generate an address. The key index starting at 0, can be incremented to get a new private key, and thus address.
It is important to keep in mind that all security-sensitive functions are implemented client side. What this means is that you can generate private keys and addresses securely in the browser, or on an offline computer. All libraries provide this functionality.
IOTA uses winternitz one-time signatures, as such you should ensure that you know which private key (and which address) has already been used in order to not reuse it. Subsequently reusing private keys can lead to the loss of funds (an attacker is able to forge the signature after continuous reuse).
Exchanges are advised to store seeds, not private keys.

Double spending

Sending a transaction will move your entire balance to a completely new address, if you have more than one pending transaction only one can eventually be confirmed and the resulting balance is sent to your next wallet address. This means that the other pending transactions are now sent from an address that has a balance of 0 IOTA, and thus none of these pending transactions can ever be confirmed.

Transaction Process

As previously mentioned, in IOTA there are no miners. As such the process of making a transaction is different from any Blockchain out there today. The process in IOTA looks as follows:
  • Signing: You sign the transaction inputs with your private keys. This can be done offline.
  • Tip Selection: MCMC is used to randomly select two tips, which will be referenced by your transaction (branchTransaction and trunkTransaction)
  • Proof of Work: In order to have your transaction accepted by the network, you need to do some Proof of Work - similar to Hashcash, not Bitcoin (spam and sybil-resistance). This usually takes a few minutes on a modern pc.
After this is completed, the trunkTransaction, branchTransaction and nonce of the transaction object should be updated. This means that you can broadcast the transaction to the network now and wait for it to be approved by someone else.

FAQ

How do I to buy IOTA?

Currently not all exchanges support IOTA and those that do may not support the option to buy with fiat currencies.
One way to buy IOTA is to buy with bitcoin (BTC) or Ether (ETH), first you will need to deposit BTC/ETH onto an exchange wallet and you can the exchange them for IOTA.
You can buy BTC or ETH through coinbase. And exchange those for IOTA on Binance or Bitfinex (other exchanges do exist, some linked in the side bar).
A detailed guide to buying can be found here.

What is MIOTA?

MIOTA is a unit of IOTA, 1 Mega IOTA or 1 Mi. It is equivalent to 1,000,000 IOTA and is the unit which is currently exchanged.
We can use the metric prefixes when describing IOTA e.g 2,500,000,000 i is equivalent to 2.5 Gi.
Note: some exchanges will display IOTA when they mean MIOTA.

Can I mine IOTA?

No you can not mine IOTA, all the supply of IOTA exist now and no more can be made.
If you want to send IOTA, your 'fee' is you have to verify 2 other transactions, thereby acting like a minenode.

Where should I store IOTA?

It is not recommended to store large amounts of IOTA on the exchange as you will not have access to the private keys of the addresses generated.
However many people have faced problems with the current GUI Wallet and therefore group consensus at the moment is to store your IOTA on the exchange, until the release of the UCL Wallet, or the Paper Wallet.

What is the GUI wallet?

What is the UCL Wallet?

What is a seed?

A seed is a unique identifier that can be described as a combined username and password that grants you access to your wallet.
Your seed is used to generate the addresses linked to your account and so this should be kept private and not shared with anyone. If anyone obtains your seed, they can login and access your IOTA.

How do I generate a seed?

You must generate a random 81 character seed using only A-Z and the number 9.
It is recommended to use offline methods to generate a seed, and not recommended to use any non community verified techniques. To generate a seed you could:

On a Linux Terminal use the following command:

 cat /dev/urandom |tr -dc A-Z9|head -c${1:-81} 

On a Mac Terminal use the following command:

 cat /dev/urandom |LC_ALL=C tr -dc 'A-Z9' | fold -w 81 | head -n 1 

With KeePass on PC

A helpful guide for generating a secure seed on KeePass can be found here.

With a dice

Dice roll template

Is my seed secure?

  1. All seeds should be 81 characters in random order composed of A-Z and 9.
  2. Do not give your seed to anyone, and don’t keep it saved in a plain text document.
  3. Don’t input your seed into any websites that you don’t trust.
Is this safe? Can’t anyone guess my seed?
What are the odds of someone guessing your seed?
  • IOTA seed = 81 characters long, and you can use A-Z, 9
  • Giving 2781 = 8.7x10115 possible combinations for IOTA seeds
  • Now let's say you have a "super computer" letting you generate and read every address associated with 1 trillion different seeds per second.
  • 8.7x10115 seeds / 1x1012 generated per second = 8.7x10103 seconds = 2.8x1096 years to process all IOTA seeds.

Why does balance appear to be 0 after a snapshot?

When a snapshot happens, all transactions are being deleted from the Tangle, leaving only the record of how many IOTA are owned by each address. However, the next time the wallet scans the Tangle to look for used addresses, the transactions will be gone because of the snapshot and the wallet will not know anymore that an address belongs to it. This is the reason for the need to regenerate addresses, so that the wallet can check the balance of each address. The more transactions were made before a snapshot, the further away the balance moves from address index 0 and the more addresses have to be (re-) generated after the snapshot.

Why is my transaction pending?

IOTA's current Tangle implementation (IOTA is in constant development, so this may change in the future) has a confirmation rate that is ~66% at first attempt.
So, if a transaction does not confirm within 1 hour, it is necessary to "reattach" (also known as "replay") the transaction one time. Doing so one time increases probability of confirmation from ~66% to ~89%.
Repeating the process a second time increases the probability from ~89% to ~99.9%.

What does attach to the tangle mean?

The process of making an transaction can be divided into two main steps:
  1. The local signing of a transaction, for which your seed is required.
  2. Taking the prepared transaction data, choosing two transactions from the tangle and doing the POW. This step is also called “attaching”.
The following analogy makes it easier to understand:
Step one is like writing a letter. You take a piece of paper, write some information on it, sign it at the bottom with your signature to authenticate that it was indeed you who wrote it, put it in an envelope and then write the recipient's address on it.
Step two: In order to attach our “letter” (transaction), we go to the tangle, pick randomly two of the newest “letters” and tie a connection between our “letter” and each of the “letters” we choose to reference.
The “Attach address” function in the wallet is actually doing nothing else than making an 0 value transaction to the address that is being attached.

How do I reattach a transaction.

Reattaching a transaction is different depending on where you send your transaction from. To reattach using the GUI Desktop wallet follow these steps:
  1. Click 'History'.
  2. Click 'Show Bundle' on the 'pending' transaction.
  3. Click 'Reattach'.
  4. Click 'Rebroadcast'. (optional, usually not required)
  5. Wait 1 Hour.
  6. If still 'pending', repeat steps 1-5 once more.

What happens to pending transactions after a snapshot?

How do I recover from a long term pending transaction?

How can I support IOTA?

You can support the IOTA network by setting up a Full Node, this will help secure the network by validating transactions broadcast by other nodes.
Running a full node also means you don't have to trust a 3rd party in showing you the correct balance and transaction history of your wallet.
By running a full node you get to take advantage of new features that might not be installed on 3rd party nodes.

How to set up a full node?

To set up a full node you will need to follow these steps:
  1. Download the full node software: either GUI, or headless CLI for lower system requirements and better performance.
  2. Get a static IP for your node.
  3. Join the network by adding 7-9 neighbours.
  4. Keep your full node up and running as much as possible.
A detailed user guide on how to set up a VTS IOTA Full Node from scratch can be found here.

How do I get a static IP?

To learn how to setup a hostname (~static IP) so you can use the newest IOTA versions that have no automated peer discovery please follow this guide.

How do I find a neighbour?

Are you a single IOTA full node looking for a partner? You can look for partners in these place:

Extras

Transaction Example:

Multiple Address in 1 Wallet Explained:

submitted by Boltzmanns_Constant to IOTASupport [link] [comments]

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