| || |A short Background submitted by Desolatorbtc to vergecurrency [link] [comments]
2008 was the worst financial crisis the world had experience since the great depression. The efforts of banks worldwide were not enough to prevent its occurrence. Shortly after, someone by the name of Satoshi Nakamoto offered an alternative solution. A digital currency that removes the need for a central bank. His proposal written in the Bitcoin white paper, is summarized below:
- A secure, decentralized network.
- A system with economic properties.
- No need for banks or rule makers.
- Instant transactions without a need of a third party or government approval.
- Bringing financial services to the unbanked 2.5 billion people.
- Total financial freedom. No one can freeze your accounts.
- Low transaction costs. No ridiculously high transaction fees.
- A currency with finite amount where no one can print money whenever they want.
In 2009, when Satoshi Nakamoto launched Bitcoin, the network consisted of computers (in crypto terms, these are called Nodes) to approve transactions, movements of data along the chain. This allows for everyone willing to become a participant, creating a decentralized global network. Allowing for a decentralized currency, free of the control of politicians, or institutions.
The rules can only be changed if 51% of the network agrees on it. This way the network is completely democratized and resistant to hacking attacks.
Unlike today’s financial institutions, no one can freeze your account or prevent you sending money. You are the only person who truly holds your wealth.
It is an open source project. Anyone can see the code and offer or discuss changes with the community. On the other hand, anyone participating to the network with computational power gets incentives or pay, with a fractional amount of BTC. Blockchain
The core of a secure decentralized network like Bitcoin, lies the Blockchain technology. To put it simply, the blockchain is like a series of Lego, connected to each other by linking information, called transactions. These transactions contain the following data sender, receiver and the unique signature of the sender.
The data will be converted into “hash” before being saved into a block. The bitcoin hash is generated using a set of cryptographic functions called sha256. This way the information is encrypted, is compressed and saved in the block.
Additionally, each block in the chain, contains the information from the block before it. This ensures that if someone tries to maliciously modify information in a block, all the block following this attempt will be changed, making it easier to spot.
Each block includes the information from the previous block. If someone wants to maliciously change the information in one block that change the complete result of all following blocks.
In this type of network there is only one blockchain, and all the information is kept in a public ledger which is shared amongst all the participating networks. For the blockchain to be valid, more than 50% of the participants (nodes and their computational power) must agree with it. Bitcoin Today (2018)
Until today many, many, events have happened. The network has grown massively. The underlying code is improved in many ways. There are more and more developers and investors that have entered the cryptocurrency space.
Currently there are proposed changes being developed to the Bitcoin network that will make bitcoin rival the centralized networks of today (Visa, Mastercard), while significantly lowering the cost of these transaction.
Many alternative cryptocurrencies have been created along the way, improving some of the aspects of the bitcoin and focusing on certain applications, in the crypto-space, we call them altcoins. WHY VERGE
The way that Bitcoin function, has severe flaws with regards to privacy:
- Public Ledger: The transaction information is public, meaning, that transactions can be linked to a person.
- IP Leakage: A persistent and motivated attacker will be able to associate your IP address with your bitcoin transaction.
Due to the above reasons, it was clear that there would be a need for a privacy coin. Different coins were then created that had this problem in mind. They were ‘too private’ in the sense that they completely by-passed the public ledger. The public ledger allows merchant to provide proof of transactions, which is important for bookkeeping.
Enter Verge Currency, formerly Dogecoindark; which offers transaction on the ledger, both public and private. Allowing the user to choose if the transactions are public or private. VERGE CURRENCY
2014 saw the birth of Dogecoin Dark; in 2016, it was rebranded to Verge Currency.
Verge improves upon the original Bitcoin blockchain and aims to fulfill its initial purpose of providing individuals and businesses with a fast, efficient and decentralized way of making direct transactions while maintaining your privacy. What is the Verge Currency Mission?
Verge Currency aims to empower people around the globe using blockchain in everyday life and makes it possible for people to engage in transactions quickly, efficiently and privately. With Verge, business and individuals now have flexible options for sending and receiving payments.
Verge Currency also offer helpful integrations and tools that enable them to handle large scale transactions between merchants and small-scale private payments. Is Verge Currency a private company and how is it funded?
Following in the spirit of Bitcoin, Verge is an open-source software, and a community. It is not a company, never had an ICO. The development is entirely funded by the community and the developers. Currently Verge is looking into setting up an official Verge merchandise store, and an Official Verge mining pool, for multiple algorithms. Tech
General technical capabilities of XVG blockchain:
| || |
|Protocol ||PoW (Proof of Work) |
|Algorithms ||Scrypt, X17, Lyra2rev2, myr-groestl and blake2s |
|Max Coin Supply ||16.5 billion XVG |
|Circulation Supply ||15.2 billion XVG |
|Minable ||yes |
|Atomic Swaps ||Enabled |
|Tx (Transaction) Speed ||5-10 Seconds |
|Tps (Transactions per sec.) ||100 (Will be ~2000 with RSK) |
|Tx Fee ||0.1 XVG |
| || |
|Tor + I2P Networks ||fully obfuscated IP address / User's Location is hidden |
|Stealth Addresses ||It enables users to anonymously receive funds to their wallet. Therefore third parties are no longer able to track receivers addresses, nor are they able to combine official wallet addresses with their stealth addresses. |
|RING CT ||Under development |
| || |
See our blackpaper V5.0
for detailed information. Development Updates
- Development Update on Verge // Light Wallet, Codebase, RingCT, RSK
- Verge Community Update // IOS and Desktop Wallets
- Development Update on Verge #2 // New dev. Introduction, IOS and Desktop Wallets
- Development Update on Verge #3 // Key Storing, IOS and Desktop Wallets
- Development Update on Verge #4 // Insight API Clients, Codebase update, Wallet keys
- Development Update on Verge #5 // New Dev, IOS, Android, Desktop Wallets, Insight API & Codebase Revision
- Development Update on Verge #6 // Upcoming Code Infrastructure, Community Q&A
- Development Update on Verge #7 // Android Redesign, TOR, iOS and Multi-Language
- Development Update on Verge #8 // The Verge Wallet Service integration - iOS Detailed Views
- Development Update on Verge #9 // Desktop - iOS - Android Wallet Progress
- Development Update on Verge #10 // Desktop - iOS - Android Wallet Progress, Service Architecture
- Development Update on Verge #11 // IOS Wallet, Codebase Progress
- Development Update on Verge #12 // 2018 Overview, Codebase Progress
- Development Update on Verge #13 // IOS Wallet, Wallet Service, Codebase Progress
- Development Update on Verge #14 // IOS Beta Release, Codebase Alpha Release
- Development Update on Verge #15 // IOS Beta 3 Release, Android Progress, Mobile Stealth Addressing, Codebase
- Development Update on Verge #16 // IOS Beta 4, Android Wallet, Codebase Beta Progress
- Development Update on Verge #17 // Development Structure, IOS Beta 5, Android Wallet, Codebase Beta Progress
- Development Livestream // Stealth Addressing on Mobile, POW/POS, Future Development Ideas
- Development Update on Verge #18 // Automated Binaries, IOS Beta 6, Android Wallet, Codebase Beta Progress
- Development Update on Verge #19 // Codebase Beta, Android Wallet Progress, IOS Wallet Release Preparations
- Development Update on Verge #20 // Codebase Beta, Android Wallet Progress, IOS Wallet Release
- Development Update on Verge #21 // Codebase Release Preparations, Android Wallet Progress
- Development Update on Verge #22 // Codebase Release, IOS wallet Translations, Android Wallet Progress
- Development Update on Verge #23 // IOS wallet V1.1, IOS13, Android Wallet Progress, New Block Explorer
- Development Update on Verge #24 // Android Wallet Progress, Verge Wallet Service, Codebase Post-Release Progress
- Development Update on Verge #25 // IOS Wallet V1.2, Codebase V.5 Mining, Android Wallet Progress
- Development Update on Verge #26 // IOS Wallet V1.2 Beta, Codebase V.5 Further Improvements
- Development Update on Verge #27 // IOS Wallet V1.2 Release, Codebase V.5 Stability, Android Wallet VWS Implementation
- Marketing Update on Verge #1 // Outreach Strategy&Activities, Education&Awareness, Meetup, New Branding Guidelines, Social Media & Communication
- Marketing Update on Verge #2 // Feedback, Information Channels, Interviews, Fueled by Verge, Comprehensive Fee Structure Comparison Fiat-Crypto
- Marketing Update on Verge #3 // Detailed Fee Structure Overview, New Vendors/Exchanges/Partnerships, Fueled by Verge, Community Effort, Media Coverage
- Marketing Update on Verge #4 // New Exchanges/Vendors, Verge University, Network Updates, Accepting Verge 101
Verge is a community-driven project. The community is the pillar of Verge, from the past to the future, the community built Verge. The community or Vergefam connects everyone from around the world, regardless of cultural background. The common vision is to provide everyone access to financial freedom, and the choice of privacy while transacting.
Below you can find the Verge Telegram communities from around the world; Mass Adoption
Low fees, quick transactions, high volume in circulation, multiplatform support, Wraith protocol are the ingredients that make Verge perfectly positioned for mass adoption. Transact on the public ledger for everyday purchases or stay private if you wish so. Getting Started
You can find the matching instructions as below:
See the following useful links:
Official Links Last Edit:
Latest development update links are added to the Tech section.
Our team couldn’t miss Wroclove.rb conference
in March. As usual, great community, talks, and the atmosphere. We took a lot of notes for the rest of the team but we think they are worth sharing here.
Building UIs for Microservices
It was a talk in which Ethan Garofolo
told that microservice architecture is not about deploying parts of our apps on different servers but about connections between those parts. Sometimes people just deploy parts of an app on different servers but those parts are still highly coupled together and know a lot about each other. That is not microservices but distributed monolith.
When we really have pretty independent microservices, we get new UI challenges. For example, we have an architecture with separated read and write models (or separate services). Sometimes we can’t amend read model immediately, and updating takes time when we create an entity in such a system
We should be aware of such things in our system and use special UI patterns for this. For example:
- A user enters invalid data. Our app accepts it immediately and returns an acknowledgment to the client. Then backend validates data in background and client polls for the result.
- Sometimes it’s ok to just show a loader.
We should think about UI at the very beginning or it will be too late to modify. Slides from Ethan Garofolo talk.
Handling file uploads for a modern developer Janko Marohnić
an author of Shrine
gem described how the Shrine works and why it’s better than other solutions:
- modular design,
- plugin system,
- direct and resumable uploads,
- and probably more.
It is recommended to use it with Uppy 1
, frontend lib for uploading file which is customizable and feature-rich. https://speakerdeck.com/janko_m/handling-file-uploads-for-a-modern-developer
Development with Axioms
Developers don’t like to argue about simple things. They rather want to work on complex problems and fix real issues. So the team of developers decided to create a list of axioms everybody in the team agrees on which should help them avoid unnecessary discussions.
Axiom is a statement everybody agrees on. For example:
- Downtime has no value.
- Redundancy provides no value.
- And others.
Then, based on their axioms they created assumptions and rules. And one of the rules was about priorities of operations they apply to code:
Remove > Fix > Refactor > Change > Add
Since “redundancy provides no value” when we have something we could delete we should delete it first, etc. And use those “remove”, “fix”, etc. verbs in commit messages and arrange their commits in a pull request in order of priority (remove things before refactoring, refactor before adding).
Having these axioms they may discuss fewer things in PRs.
I was inspired by how they communicated internally and deal with human problems. Thanks, Martin Gamsjaeger for the talk!
Autoloading is unpredictable, dangerous, and can’t be implemented right.
- You load module A.
- You load module B that depends on module A current state.
- You change module A and module B may become invalid.
Given that Rails reloads modules on change you can never tell which module is loaded first.
Also, since we have autoloading only in development we kind of develop our code in one environment but users execute it in a different one on a server in production. Which may be inconsistent.
One of the proposed solutions is to have a file where you list all your constants in particular order so Rails load it in this order.
Optimistic UI & Live updates with Logux
Even in the modern world, people get into a situation when they have either no internet connection or a very poor one. For example, we have limited connection in the subway.
Our usual approach is to either do nothing when we have no internet connection (page stuck) or to show a loader animation. Nobody likes loader animations and nobody likes to wait. Imagine you would see a spinner every time you click on like button in Twitter instead of a beautiful fireworks animation.
We could solve this by creating an optimistic UI: we apply changes on frontend first and wait until they sync with server. And there are a number of strategies on how to deal with conflicts (two users liked a tweet in offline at the same time) and inconsistency.
Logux gives us some tools to make optimistic UIs faster. It may send all the events we have in redux on the frontend to the server and vice-versa.
Slides from Dmitry Salahutdinov
Towards the post-framework future
Frameworks make our life much easier. Unfortunately, often it is easier only for the first few months. Victor Shepelev
draws an analogy with industrial approaches:
- Industrial (framework): make dull and hard things cheap by making them similar.
- Post-industrial (post-framework): make custom things affordable by using modern tools and materials.
Frameworks are not the only choice. We could pick the right tools for the work and build our apps using different heterogeneous tools. It is totally ok to get Rails and use ROM instead of ActiveRecord, or cells instead of rails views. Victors’s presentation on Google docs.
Orchestrating video transcoding in Ruby: A story
A great story about building a service that transcodes a lot of videos. If you’re interested in video processing, I highly recommend watching the video. Here’s a list of tips I remember:
Slides from Michał Matyas talk.
- Encode uploaded video to lower quality first because it would be quick and users will see it in UI quickly.
- AWS lambda is not the right place to do transcoding if you have a lot of videos uploaded to your site because it would cost a lot of money.
- Optimize video for streaming during encoding: ffmpeg -movflags + faststart .
- If you allow processing remote files (user provided an URL of video) consider downloading a file first on your server and then transcode. It may be 50x faster because of reasons.
- FFmpeg has options presets, use them.
- Collect metadata of initial and converted video files. This will help to debug things. ffprobe gives you video file metadata.
The TruffleRuby Compilation Pipeline
Thanks, Chris Seaton
They wrote compiler of ruby code to GraalVM and it works well. But our ruby programs consist not only with ruby code but also with C code from C extensions. That is the usual challenge for alternative ruby implementations. JRuby can’t work with C extensions so people usually create alternative gems (jdbc-postgres instead of pg).
In TruffleRuby they use LLVM to compile C extensions to GraalVM bytecode: https://preview.redd.it/q0z6ec6dr0w21.jpg?width=666&format=pjpg&auto=webp&s=0eda23292abda5498d64b0652c3d0ee5455b9537
So TruffleRuby is fast they say.
I’ve just described this and realized that we probably have LLVM backend for JVM so we can use C extensions with JRuby the similar way. https://preview.redd.it/dqb2nfehr0w21.png?width=72&format=png&auto=webp&s=d579928cf563c8e67422bd885af58bfba8e69f77
Events. Events. Events!
It is a good and smooth introduction to Event Sourcing. The speaker Anton Davydov
suggests reading “Designing Data-Intensive Applications” for more info on this topic.
Event storages for rails: rails-event-store
How to hijack, proxy and smuggle sockets with Rack/Ruby
It is possible to make our browser to listen to a TCP socket using an extension (and a native binary but soon only extension will be required). It is possible to open a TCP connection from a browser to our server which will be able to send any arbitrary TCP traffic (not only http).
So we can make an incredible setup:
- Our browser listens for traffic on localhost:1234.
- ssh or vnc client connects to localhost:1234.
- Browser then redirects all this traffic to our server.
- Our server (in ruby) keeps connection with our browser and another server.
- Our server get traffic (ssh or vnc or any) from browser and proxies it to another server and vice versa.
It is easy to spawn a thread per connection and do the job but this doesn’t scale. The talk shows us how to make it performant enough for production by implementing some kind of an event loop and using specific operating system features such as EPOLL syscalls.
Why? Dávid Halász
is a developer at ManageIQ. They build a tool for developers and DevOps to manage their infrastructure. Sometimes it happens that a DevOps wants to access their server via vnc. ManageIQ server has access to vnc, but DevOps doesn’t. So we implement a proxy in ManageIQ which would proxy traffic between DevOps and their server. But ManageIQ is rails or rack-based app, and it accepts only HTTP queries, what can we do? Well, we make DevOps’ browser to connect to ManageIQ via HTTP and establish a long living connection. Then we make this connection to be able to send arbitrary TCP traffic so now DevOps’ browser can send any data to ManageIQ server. How to make it send vnc traffic? Well, we make DevOps’ browser to open a server at localhost:1234 so vnc client connects to this localhost:1234 and then the browser sends traffic to ManageIQ, and it sends it to vnc server.
As I understood nothing during the talk, I had to drink a couple of beers with David at the afterparty to finally make it clear. Slides from Dávid Halász talk.
There were a couple of SonicPi sessions during lightning talks. Check the video how it works (not from wroclove.rb but describes what Sonic Pi is): https://www.youtube.com/watch?v=v9fKE0huqAE
The photos and speaker’s talks have taken from an official wroclove.rb twitter account
Many thanks to organizers of the event and see you on Wroclove.rb 2020!
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