A couple days ago Elon Musk declared war on the Bitcoin community. Although he announced that his company Tesla will stop accepting BTC as means of payment for its cars simultaneously he is promoting another electricity-consuming PoW blockchain: Dogecoin. In parallel Elon’s SpaceX is blowing massive amounts of CO2 originating from fossil fuels into the air with every rocket launch not even considering the production costs of the rockets and cargo. Is Elon Musk possibly only pumping Dogecoin because he was late on Bitcoin? …
Dear æternity crypto community,
It has been both exciting and stressful weeks since the æternity campaign ended. A lot of work has been done to make æternity a reality and the best is yet to come.
Scaling an organization is tricky. Most startups fail because of this reason. It is easy to coordinate when you have 5 people on the team, but a group-size above 10 easily becomes chaotic. By all means, æternity has been very efficient in handling operations so far. Scaling these operations and restructuring the team has been quite difficult during the past weeks. …
We just reached our self imposed cap. The aeternity contribution campaign will end in 6 more hours from the time the cap got hit. To check the current time, please have a look at our contribution wallet.
Thank you for your incredible support.
A recap of the campaign, a contribution sheet as well as a script to verify the contribution sheet will be released shortly.
Afterwards our ERC20 token contract will be deployed, first on testnet, then on mainnet.
Interested in æternity? Get in touch:
Development Contributions for the æternity Blockchain
We are pleased to announce the details on how to contribute to the development of æternity blockchain! In the contribution process, AE tokens will be created and distributed to the contributors.
In order to achieve the highest possible security, transparency and simplicity, æternity uses simple smart contracts (multi-signature contracts) on Ethereum in order to collect the ETH contributions and manage them.
Another goal of this campaign is to get the global community involved as soon as possible, in order to foster the growth of the æternity ecosystem. We want to be as…
BitAlias, a naming system on top of Bitcoin’s blockchain and my last public project, is on hold now. If someone likes to take it over, please contact me. It had some traction, and it is a valid project, even though Bitcoin was not designed for such an application. As I am now with æternity, I can’t maintain it anymore, but happy to share all the code I wrote so far, as well as consult on the strategy.
I just mined the first block of a new blockchain, the æternity testnet blockchain (Github). We have the 8th birthday of Bitcoin. And it is the first days of year 2017. Last year, in 2016, suddenly everybody started talking about blockchain. Banks, Businesses, Governments, Regulators, Economists, Accountants, Pharma, you name it.
I have been around in the blockchain space for a while. And it is time to start something new. Something which solves plenty of issues of current blockchain design, learning from the past 8 years of blockchain’s existence.
First, I ignored the block-size debate. It was always clear to me that we needed bigger blocks and the one MB limit is purely artificial. Historically, the block-size limit was introduced to make it impossible to spam-attack the network while bitcoins were cheap. Satoshi himself had no block-size limit. He was talking about ‘100 million transactions per day’, which clearly need more space than one MB.
The main argument among those who reject a block-size increase is that Bitcoin would centralize even faster because the costs are rising of running a full node. This would make Bitcoin insecure.
More and more organizations are currently porting their digital asset infrastructure to blockchain technology. Ideally a blockchain is cheap to maintain and still secure from being tampering with. No single entity or several entities together should be able to control it and to change its internal state.
In case a company has millions of assets or users it will not be feasible to create an entry (output) for each asset and user on the Bitcoin blockchain. Transaction fees are generally rising in terms of their price in USD. …
Introducing Stealth Payments and Simplified Alias Verification (SAV)
The initial draft of BitAlias was not designed with privacy in mind, thus all payments where public. BitAlias II is introducing unlimited public and stealth payments. Furthermore, a new way to do Simplified Alias Verification (SAV) will be introduced to increase security, which works very similar to SPV-proofs.
The protocol described in the initial blog post fundamentally stays the same. There are 4 well-defined transactions:
Bitcoin is a decentralized system. It is open for everybody to start participating in it and theoretically, even change how it works. But in reality we have got organizations like the Bitcoin Foundation or groups like the core developers which have a huge influence on the development of the platform.
The current debate on the whether, or not, the block-size limit should be increased, shows that the process of decision making is far from optimal. Even though that I am a stakeholder in Bitcoin and for several years a member of the community, I do…