3 Things to Know about Bitcoin Confirmations (2020 Updated)
The next XVG? Microcap 100x potential actually supported by fundamentals!
What’s up team? I have a hot one for you. XVG returned 12 million percent in 2017 and this one reminds me a lot of it. Here’s why: Mimblewimble is like Blu-Ray compared to CD-ROM in terms of its ability to compress data on a blockchain. The current BTC chain is 277gb and its capacity is limited because every time you spend a coin, each node needs to validate its history back to when it was mined (this is how double spending is prevented). Mimblewimble is different - all transactions in a block are aggregated and netted out in one giant CoinJoin, and only the current spending needs to be verified. This means that dramatically more transactions can fit into a smaller space, increasing throughput and lowering fees while still retaining the full proof of work game theory of Bitcoin. These blockchains are small enough to run a full node on a cheap smartphone, which enhances the decentralization and censorship resistance of the network. The biggest benefit, though, is that all transactions are private - the blockchain doesn’t reveal amounts or addresses except to the actual wallet owner. Unlike earlier decoy-based approaches that bloat the chain and can still be data mined (XMR), Mimblewimble leaves no trace in the blockchain, instead storing only the present state of coin ownership. The first two Mimblewimble coins, Grin and Beam, launched to great fanfare in 2019, quickly reaching over $100m in market cap (since settled down to $22m and $26m respectively). They are good projects but grin has infinite supply and huge never-decreasing emission, and Beam is a corporate moneygrab whose founding investors are counting on you buying for their ROI. ZEC is valued at $568m today, despite the facts that only 1% of transactions are actually shielded, it has a trusted setup, and generating a confidential transaction takes ~60 seconds on a powerful PC. XMR is a great project but it’s valued at $1.2b (so no 100x) and it uses CryptoNote, which is 2014 tech that relies on a decoy-based approach that could be vulnerable to more powerful computers in the future. Mimblewimble is just a better way to approach privacy because there is simply no data recorded in the blockchain for companies to surveil. Privacy is not just for darknet markets, porn, money launderers and terrorists. In many countries it’s dangerous to be wealthy, and there are all kinds of problems with having your spending data be out there publicly and permanently for all to see. Namely, companies like Amazon are patenting approaches to identify people with their crypto addresses, “for law enforcement” but also so that, just like credit cards, your spending data can be used to target ads. (A) Coinbase is selling user data to the DEA, IRS, FBI, Secret Service, and who knows who else? (B) What about insurance companies raising your premiums or canceling your policy because they see you buying (legal) cannabis? If your business operates using transparent cryptocurrency, competitors can data mine your customer and supply chain data, and employees can see how much everyone else gets paid. I could go on, but the idea of “I have nothing to hide, so what do I care about privacy?” will increasingly ring hollow as people realize that this money printing will have to be paid by massive tax increases AND that those taxes will be directly debited from their “Central Bank Digital Currency” wallets. 100% privacy for all transactions also eliminates one HUGE problem that people aren’t aware of yet, but they will be: fungibility. Fungibility means that each coin is indistinguishable from any other, just like paper cash. Why is this important? Because of the ever-expanding reach of AML/KYC/KYT (Anti-Money Laundering / Know Your Customer / Know Your Transaction) as regulators cramp down on crypto and banks take over, increasingly coins become “tainted” in various ways. For example, if you withdraw coins to a mixing service like Wasabi or Samourai, you may find your account blocked. (C) The next obvious step is that if you receive coins that these chainalysis services don’t like for whatever reason, you will be completely innocent yet forced to prove that you didn’t know that the coins you bought were up to no good in a past life. 3 days ago, $100k of USDC was frozen. (D) Even smaller coins like LTC now have this problem, because “Chinese Drug Kingpins” used them. (E) I believe that censorable money that can be blocked/frozen isn’t really “your money”. Epic Cash is a 100% volunteer community project (like XVG and XMR) that had a fair launch in September last year with no ICO and no premine. There are very few projects like this, and it’s a key ingredient in Verge’s success (still at $110m market cap today despite being down 97% since the bubble peak) and why it’s still around. It has a small but super passionate community of “Freemen” who are united by a belief in the sound money economics of Bitcoin Standard emission (21m supply limit and ever-decreasing inflation) and the importance of privacy. I am super bullish on this coin for the following reasons:
Only $400k market cap
Supply started at zero, so there are no VC’s and team to dump on you into the pumps - all coins are mined into existence, just like Bitcoin.
It just had its first halving, reducing emission from 16 to 8 per block. Between now and 2028 there are FOUR (!) more halvings, from 4 to 2 to 1 and then finally 0.15 (I guess that would be an 85%-ing :p) and at this point the supply is the same as BTC and stays in sync forever until the last coin is mined in 2140. This simple supply curve is already accepted by the market as a winner, so why mess with success? (I)
Meets Andreas Antonopolous’ 5 pillars of open blockchains test: Public, Open, Borderless, Neutral, and Censorship Resistant. (How many coins can say this?)
Unlike Bitcoin, Epic created a multi-algorithm approach that enables people to mine on ordinary computers - 60% for CPU on RandomX, 38% for GPU on ProgPow, and 2% for ASIC’s on Cuckoo31+. The algorithms don’t compete with one another. This is essential for leveling the playing field and preventing massive farms from dominating. These percentages can change over time and new algorithms can be easily dropped in. You can mine today using an old laptop and in 5 years you will still be able to. Incidentally, there is nothing standing in the way of adding mobile phone-based mining, which ETN showed there’s a huge demand for.
Based off the excellent Grin codebase, which means they continue to pull in ongoing core code enhancements and focus on ease of use and market penetration instead. (Smart!)
Litecoin’s Charlie Lee is out there daily talking about their move to Mimblewimble, which provides free publicity. What people don’t realize is that you can’t just bolt on Mimblewimble to a legacy blockchain, that’s like putting a Ferrari engine into a school bus - it’s still a school bus, not a race car! LTC is doing it as an optional soft fork via “extension blocks” which will not be supported by all wallets and exchanges. Also, anyone using “optional” privacy features is declaring themselves to be suspicious, which kind of defeats the point for people who care about privacy.
The community is friendly and welcoming to new people coming in, with lots of helpful (independently created) tutorials and guides. (F)
It’s already a global phenomenon, with the whitepaper in 20+ languages (G) and (not bot-infested) active local-language communities on not only Telegram but also Wechat, LINE, QQ and other messenger platforms.
It’s only on two random little exchanges currently, Citex and Vitex. Vitex is actually a pretty good DEX with no KYC and a great mobile wallet.
They are very creative - since centralized exchanges want huge money to list, they created a non-inflationary ERC20 tracker token that’s exchangeable 1:1 for coins so that Uniswap trading is possible (H)
Because it doesn’t have a huge marketing budget in a sea of VC-funded shitcoins, it is as-yet undiscovered, which is why it’s so cheap. There are only 4 Mimblewimble-based currencies on the market: MWC at $162m, BEAM at $26m, GRIN at $22m, and EPIC at $0.4m. This is not financial advice and as always, do your own research, but I’ve been buying this gem for months and will continue to. This one ticks all the boxes for me, the only real problem is that it’s hard to buy much without causing a huge green candle. Alt season is coming, and coins like this are how your neighbor Chad got his Lambo back in 2017. For 2021, McLaren is a better choice and be sure to pay cash so that it doesn’t get repossessed like Chad!
Create a high-quality infographic that illustrates the genesis of our platform, the working tech that has been created and how Komodo has been built differently, and deliberately, from the very beginning to ensure security, scalability and interoperability. This is why we refer to the architecture, because Komodo was designed to overcome common problems like congestion, governance and attacks that other platforms did not foresee or prevent, from the beginning. This is Komodo DNA.
Share your submission far and wide and encourage your friends and followers to vote for you.
Encourage feedback, ask questions and make your infographic the best that it can be.
Our Criteria to Judge
Please note that upvotes and shares are not the only criteria we'll use to judge winners. While useful, we will value creativity, good questions and discussion on Reddit highly. When sharing your posts you will score more highly if people comment, provide feedback and are engaged.
How well the infographic conveys our working tech, it's core concepts and plans to build on top of it.
How well the infographic illustrates our story, purpose and conveys our tech so that it's easy to understand.
Constructive discussion, questions and feedback on Reddit that lead to improvement.
Sentiment and comments generated across all our social media. This will not include vanity metrics like likes or shares.
Upvotes on Reddit for the author's submission post ONLY. All votes will be counted (i.e. doesn't matter which week they were made).
Retweets of the submission in our master thread ONLY. Include your handle and a cover image in your submission. This means if you promote yourself on Twitter you ought to promote the tweet with your work in it.
How do you win?
You may submit up to two infographics. By submitting an infographic, you understand Komodo may post and use your submissions on our digital channels during and after the contest. Each infographic must have it's own post.
Create a post on Komodo's subreddit using the 'infographic contest' flair.
Add the infographic image into the Reddit post.
Include your Twitter handle.
Include a social media friendly cover image for us to use when we tweet your submission out.
Post a link to your submission post here in the comments for all to see.
Contest Timeline Guide (these dates indicative and are subject to change).
7th September. Announcement. If you're reading this on Reddit before the big announcement then well done! You have two extra days before this is announced on Friday.
10th - 21st September. Research and Questions. We will promote the contest, invite questions and requests for resources, in the comments of this master Reddit post (because this means all information and good questions will be visible to all participants).
22nd September. Draft Submissions. Creatives to submit their draft infographics on Reddit. All submissions need to have their own post and then be linked to in the comments of this master post. This is important to remember!
24th - 30th September. Feedback. A period of one week will be devoted to promoting the submissions and asking the community and team to give you feedback.
1st October. Final Submissions.
2nd - 8th October. Voting. A week of promoting your work and at the end we'll count votes, consider feedback and pick our winners.
15th October. Winners Declared. The final decision by judges. Votes and community feedback counts towards judging but do not have final say.
Interim KMD Colour Palette If you’ve not been included in the first round it’s because the submission hadn’t been made when the team reviewed. Don’t worry though because we’re organising hangouts and further feedback to help.
#001Infographic Link//Reddit Post Link by thesudio. There’s a lot of good points made, however, these would work better if there is a clear narrative and flow to the information being presented. Otherwise, it can be overwhelming and confusing to the reader. The #1 objective is to visually depict the architecture story and how KMD is redefining blockchain platform architecture.
#002Infographic Link//Reddit Post Link by thesudio. We like that there is a clear structure and clear messaging aligned to each of the 5 pillars. However, the infographic should be focused on telling the architecture story vs the pillars.
#003Infographic Link//Reddit Post Link by VolsenVols. Love how you’ve incorporated our existing graphic design elements into the infographic. This is heading in the right direction and the level of copy and content are well balanced. It would be nice to align this closer to the architecture story and to expand on the different layers of our technology using the same style.
#004Infographic Link//Reddit Post Link by dexter_laabo. Needs to tell the architecture story. This looks more like it took information from our current website. “Anonymous” is not a key aspect of our technology that we’re focusing on.
#005Infographic Link//Reddit Post Link by savandra. The visuals are strong but the narrative could be stronger. It would be nice to align this closer to the architecture story and to expand on the different layers of our technology using the same style.
#007Infographic Link//Reddit Post Link by cryptol1. Doesn’t depict the architecture narrative. Inaccurately describes cross-chain tech as “proprietary”. Simplification has the wrong messaging associated, should be white-label focused. This is considered more of a graphics versus an infographic. Needs to be more comprehensive.
#008Infographic Link//Reddit Post Link by pacosenda. We like the unique design style and approach taken. Doesn’t follow the architecture narrative. Should be expanded out as it is a bit short on content with no clear flow or narrative.
#009Infographic Link//Reddit Post Link by jeanetteLine. Great level of detail and thought on the layout and content. Doesn’t, however, cover the architecture story. Would be preferred if the design direction reflects interim colour and style vs. legacy KMD. The roadmap should be avoided. Looks like they borrowed more from the website than the guidelines.
#010Infographic Link//Reddit Post Link by Meyse. Very creative way to explain and layout the content. This could be expanded out more to encompass the entire architecture story. Cross-chain verifications/smart contracts, blockchain bridging need to be incorporated in.
#014Infographic Link//Reddit Post Link by Limiter02. Good thought has gone into the copy, however, there’s way too much of it. Would prefer stronger visuals and utilizing a more visual storytelling approach. Doesn’t follow the architecture story. Remove the lizard.
#015Infographic Link//Reddit Post Link by piptothemoon. Great thought into visually representing key points. Needs to be expanded out to incorporate the architecture story, but this is heading in the right direction from a visual storytelling POV.
#016Infographic Link//Reddit Post Link by thecryptofoundation. Love the timeline approach, and mostly followed the guidelines and architecture story. Also, like the incorporation of accomplishments at the end. Would like to get the stock imagery used to reflect our interim colour palette. Not all visuals match what is being represented in the copy.
#017Infographic Link//Reddit Post Link by jsteneros. As discussed in the Zoom call, this graphic is really solid but a little heavy on the copy. Would be good to see more visualizations of the info. This graphic hits on some of the important messages (e.g. Komodo is built differently from other blockchain platforms and solves many of the issues that first-gen platforms are struggling with) but it would be great if there was more information about Komodo’s architecture and how Komodo is different from other platforms.
#018Infographic Link//Reddit Post Link by gravigocrypto. This one was also discussed in the Zoom call. Outstanding visuals and overall design. The info follows the architecture story well but could be stronger if the 3 layers of Komodo’s architecture were tied together into one, coherent visual. It’s a challenging task but that’s part of the contest : )
#019Infographic Link//Reddit Post Link by PacoSenda. This is a really creative infographic, which is great! However, we’d really like to see the visuals a bit more in line with fonts and color palette described above in the “First Round of Feedback” section. Also, as with the feedback for many of the infographic submissions, sticking to the Komodo architecture story would be best.
#020Infographic Link//Reddit Post Link by emmanmalaman. The visuals are pretty cool but this one misses most of our core messaging. It would be much stronger if it followed the architecture story and touched on the info provided in this post. There’s definitely potential here but it needs some work.
#021Infographic Link//Reddit Post Link by immimidada. The colors and visuals here are spot-on. It’s also really great that it sets up the problem and then presents the Komodo solution. However, the problem and solution aren’t defined exactly the way we’d like. Check out the architecture narrative to learn more, and try to follow that story a bit more closely.
#022Infographic Link//Reddit Post Link by mohitgfx3. This one is a bit heavy on the KMD logos. We’re really hoping to see a visualization of Komodo’s infrastructure architecture. As with the feedback for many of the infographics, it would be best to re-read Komodo’s architecture story and try to stick to that as much as possible. Using images from the current website is also not a great approach, as we’re preparing to launch a new site in the coming months.
#023Infographic Link//Reddit Post Link by u/sayonara_girl. Some of the visuals are cool! It’s missing the narrative we’re looking for. In general, less copy and more visual storytelling would improve this graphic a lot. We’d like to see a smooth, linear flow of information. Take another look at the architecture story and try to follow that narrative.
#024Infographic Link//Reddit Post Link by brunopugens. This one follows the narrative well! But it’s a little heavy on the copy. It would be much stronger if the architecture was displayed visually, rather than explained with text. Also, the design is cool but it’s difficult to read b/c the perspective of the text is skewed. It’s a really cool idea but might be better to put the text flat for the sake of readability and clarity.
We hosted a round of live feedback sessions via Zoom. The recording is here:
The first block in the KMD blockchain was mined just under two years ago, on September 13, 2016 to 9:04 PM. Since then, Komodo has demonstrated a commitment to innovation and established a history of execution.
Cryptomiso.com is a website that ranks 866 different blockchain projects according to the Github commit history of that project’s most popular repo. Komodo is ranked #1 overall for Github commits over the last 12 months.
China's Ministry Research Initiative regularly ranks Komodo in the top 10.
Groestlcoin September 2019 Development Release/Update!
For a more interactive view of changes, click here In our current world; bordering on financial chaos, with tariff wars, Brexit and hyperinflation rife, you can count on Groestlcoin to consistently produce innovation that strikes to take the power away from the few and into the many, even after a full five and a half years of solid development. Here is what the team has already announced in the last 3 months since the last development update:
Groestl Nodes aims to map out and compare the status of the Groestlcoin mainnet and testnet networks. Even though these networks share the same protocol, there is currently no way to directly compare these coins in a single location. These statistics are essential to evaluate the relative health of both networks.
Shows Onion (Tor) nodes
Shows IPv6 nodes
Supports both main net and test net
Node Checker – Check the status of a remote node
Ability to download node data by CSV, JSON or TXT format
Ability to download unique address data by CSV, JSON or TXT format
This is a tool for creating unsigned raw Groestlcoin transactions and also to verify existing transactions by entering in the transaction hex and converting this to a human-readable format to verify that a transaction is correct before it is signed.
Create Raw Unsigned Groestlcoin transactions
Generates a QR code for the transaction
Compatible with most Groestlcoin wallets including but not restricted to Groestlcoin Core and Electrum-GRS
Estimates final signed transaction size
Taking a raw transaction format and shows its Transaction ID, Transaction Inputs and Outputs
AGCore is an Android app designed to make it easier to run a Groestlcoin Core node on always-on Android appliances such as set-top boxes, Android TVs and repurposed tablets/phones. If you are a non-technical user of Groestlcoin and want an Android app that makes it easy to run a Groestlcoin Core node by acting as a wrapper, then AG Core is the right choice for you.
Update to Groestlcoin Core 2.17.2
Switched to native builds via NDK for Groestlcoin Core resulting in a smaller footprint.
Added embedded tor
Added tor pairing support
TOR upgrade bug fixes
Improved blockchain Sync progress using getblockchaininfo verificationprogress
Improved package download progress bar
Added support for external storage access > Android M
Added support for Android Oreo, including new notification mechanism
Bump Fee (RBF) improvements – Implemented a new fee-bump strategy that can add new inputs, so now any transaction can be fee-bumped. The old strategy was to decrease the value of outputs (starting with change). We will now try the new strategy first, and only use the old as a fallback.
Coin Choser improvements
More likely to construct transactions without change (where possible)
Less likely to construct transactions with really small change
Only spend negative effective value coins when beneficial for privacy
Fix long-standing bug that broke wallets with >65k addresses
Windows binaries: Now build the PyInstaller bootloader ourselves, as this seems to reduce anti-virus false positives
Fix performance regression for large wallets
Fix high-DPI issues related to text fields
Trezor – Allow bypassing 'too old firmware' error
Trezor – Use only the Bridge to scan devices if it is available
Hardware wallets – On Win10-1903, some hardware devices with U2F functionality can only be detected with Administrator privileges. A workaround is to run as Admin, or for Trezor to install the Bridge.
The AppImage Linux x86_64 binary and the Windows setup.exe are now built reproducibly.
Fix watch-only wallets that could not bump fee in some scenarios
Faster transaction signing for segwit inputs or really large transactions.
Groestlwallet is designed to protect you from malware, browser security holes, even physical theft. With AES hardware encryption, app sandboxing, keychain and code signatures, groestlwallet represents a significant security advance over web and desktop wallets, and other mobile platforms. Simplicity is groestlwallet's core design principle. Because groestlwallet is "deterministic", your balance and entire transaction history can be restored from just your recovery phrase.
iOS 0.7.3 Changes
Fix BIP70 payments
Updated QR Scanner
Lowered spending limit
Updated DNS Seeds
Fixed URL Scheme
Fixed GRS Name in mailing
Fixed crash upon starting in some scenarios
Android v89 Changes
Use default fee
Republished on Google Play by removing send_sms permissions
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