Features of Rlictum Pro
• Cryptography — A custom made encryption algorithm.
• Network — Built their own node interaction principle.
• Smart-contracts — Have their own laboratory for all smart contracts.
• Relict Coin — The coin that is not subject to external economic and political influences.
• Newest block architecture — Unique architecture of chains and blocks, with hash in MasterChain and synchronization and sharing of information by parallel chains n-dimensional smart-contracts.
• Unique consensus algorithm — PoT (Proof of Tsar) with protection from hash collisions, nodes typing and their conditions.
• 8000 times smaller block size
• Capable of handling 1 Million transaction per second!
References
○ Website: https://relictum.pro/
○ Token sale : https://relictum.pro/partner-link/wvVDVWN
○ Medium: https://medium.com/@relictumpro
○ Whitepaper: https://relictum.pro/cabinet/docs/whitepaper_en.pdf
○ Telegram: https://t.me/Relictum_Pro_Official
○ Facebook: https://www.facebook.com/relictumpr/
○ Twitter: https://twitter.com/relictumpro
○ Youtube: ttps://www.youtube.com/channel/UCvj6aITqEO76WXPgwfjzfYw
• Cryptography — A custom made encryption algorithm.
• Network — Built their own node interaction principle.
• Smart-contracts — Have their own laboratory for all smart contracts.
• Relict Coin — The coin that is not subject to external economic and political influences.
• Newest block architecture — Unique architecture of chains and blocks, with hash in MasterChain and synchronization and sharing of information by parallel chains n-dimensional smart-contracts.
• Unique consensus algorithm — PoT (Proof of Tsar) with protection from hash collisions, nodes typing and their conditions.
• 8000 times smaller block size
• Capable of handling 1 Million transaction per second!
References
○ Website: https://relictum.pro/
○ Token sale : https://relictum.pro/partner-link/wvVDVWN
○ Medium: https://medium.com/@relictumpro
○ Whitepaper: https://relictum.pro/cabinet/docs/whitepaper_en.pdf
○ Telegram: https://t.me/Relictum_Pro_Official
○ Facebook: https://www.facebook.com/relictumpr/
○ Twitter: https://twitter.com/relictumpro
○ Youtube: ttps://www.youtube.com/channel/UCvj6aITqEO76WXPgwfjzfYw
Medium
Relictum Pro – Medium
Read writing from Relictum Pro on Medium. Relictum Pro is a blockchain of the latest generation. #Blockchain 5.0. Every day, Relictum Pro and thousands of other voices read, write, and share important stories on Medium.
CryptoCurrency A to Z pinned «Features of Rlictum Pro • Cryptography — A custom made encryption algorithm. • Network — Built their own node interaction principle. • Smart-contracts — Have their own laboratory for all smart contracts. • Relict Coin — The coin that is not subject to…»
What is smart contract?
Computer code that, upon the occurrence of a specified condition or conditions, is capable of running automatically according to prespecified functions. The code can be stored and processed on a distributed ledger and would write any resulting change into the distributed ledger”
Smart contracts are as mentioned above simple computer programs working like “if-then” or “if-else if” statements.
The “smart” aspect about the same comes from the fact that the predefined inputs for the program comes from the blockchain ledger, which as proven above, is a secure and reliable source of recorded
Major types of smart contracts
Assuming the reader has a basic understanding of contracts and computer programming, and building on from our definition of smart contracts, we can roughly classify smart contracts and protocols into the following major categories.
Computer code that, upon the occurrence of a specified condition or conditions, is capable of running automatically according to prespecified functions. The code can be stored and processed on a distributed ledger and would write any resulting change into the distributed ledger”
Smart contracts are as mentioned above simple computer programs working like “if-then” or “if-else if” statements.
The “smart” aspect about the same comes from the fact that the predefined inputs for the program comes from the blockchain ledger, which as proven above, is a secure and reliable source of recorded
Major types of smart contracts
Assuming the reader has a basic understanding of contracts and computer programming, and building on from our definition of smart contracts, we can roughly classify smart contracts and protocols into the following major categories.
1. SMART LEGAL CONTRACTS
These are presumably the most obvious kind. Most, if not, all contracts are legally enforceable. Without going into much technicalities, a smart legal contact is one that involves strict legal recourses in case parties involved in the same were to not fulfill their end of the bargain.
As previously mentioned, the current legal framework in different countries and contexts lack sufficient support for smart and automated contracts on the blockchain and their legal status is unclear.
These are presumably the most obvious kind. Most, if not, all contracts are legally enforceable. Without going into much technicalities, a smart legal contact is one that involves strict legal recourses in case parties involved in the same were to not fulfill their end of the bargain.
As previously mentioned, the current legal framework in different countries and contexts lack sufficient support for smart and automated contracts on the blockchain and their legal status is unclear.
2. DAO- Decentralized Autonomous Organizations
shortly DAO, can be loosely defined as communities that exist on the blockchain. The community may be defined by a set of rules arrived at and put into code via smart contracts. Every action by every participant would then be subject to these sets of rules with the task of enforcing and reaching at recourse in case of a break being left to the program.
Multitudes of smart contracts make up these rules and they work in tandem policing and watching over participants.
shortly DAO, can be loosely defined as communities that exist on the blockchain. The community may be defined by a set of rules arrived at and put into code via smart contracts. Every action by every participant would then be subject to these sets of rules with the task of enforcing and reaching at recourse in case of a break being left to the program.
Multitudes of smart contracts make up these rules and they work in tandem policing and watching over participants.
Famous Hack - story of Ethereum fork
A DAO called the Genesis DAO was created by Ethereum participants in may of 2016.
The community was meant to be a crowdfunding and venture capital platform. In a surprisingly short period of time they managed to raise an astounding $150 million. However, hacker(s) found loopholes in the system and managed to steal about $50 million dollars’ worth of Ethers from the crowdfund investors.
The hack and its fallout resulted in a fork of the Ethereum blockchain into two, Ethereum and Ethereum Classic
A DAO called the Genesis DAO was created by Ethereum participants in may of 2016.
The community was meant to be a crowdfunding and venture capital platform. In a surprisingly short period of time they managed to raise an astounding $150 million. However, hacker(s) found loopholes in the system and managed to steal about $50 million dollars’ worth of Ethers from the crowdfund investors.
The hack and its fallout resulted in a fork of the Ethereum blockchain into two, Ethereum and Ethereum Classic
3. Application LOGIC CONTRACTS (ALCS)
If you’ve heard about the internet of things in conjunction with the blockchain, chances are that the matter talked about Application logic contacts, shortly ALC.
Such smart contracts contain application specific code that work in conjunction with other smart contracts and programs on the blockchain. They aid in communicating with and validating
If you’ve heard about the internet of things in conjunction with the blockchain, chances are that the matter talked about Application logic contacts, shortly ALC.
Such smart contracts contain application specific code that work in conjunction with other smart contracts and programs on the blockchain. They aid in communicating with and validating
How smart contracts work
To simplify things, let’s proceed by taking an example.
John and Peter are two individuals debating about the scores in a football match.
They have conflicting views about the outcome with both of them supporting different teams (context). Since both of them need to go elsewhere and won’t be able to finish the match then, John bets that team A will beat team B in the match and offers Peter $100 in that case.
Peter considers and accepts the bet while making it clear that they are bound to the terms. However, neither of them trusts each other to honour the bet and they don’t have the time nor the money to appoint a third party to oversee the same.
Assuming both John and Peter were to use a smart contract platform such as Etherparty, to automatically settle the bet at the time of the contract negotiation, they’ll both link their blockchain based identities to the contract and set the terms, making it clear that as soon as the match is over, the program will find out who the winning side is and automatically credit the amount to the winners bank account from the losers. As soon as the match ends and media outlets report the same, the program will scour the internet for the prescribed sources, identify which team won, relate it to the terms of the contract, in this case since B won Peter gets the money from John and after intimating both the parties transfers $100 from John’s to Peter’s account.
After having executed, the smart contract will terminate and be inactive for all the time to come unless otherwise mentioned.
To simplify things, let’s proceed by taking an example.
John and Peter are two individuals debating about the scores in a football match.
They have conflicting views about the outcome with both of them supporting different teams (context). Since both of them need to go elsewhere and won’t be able to finish the match then, John bets that team A will beat team B in the match and offers Peter $100 in that case.
Peter considers and accepts the bet while making it clear that they are bound to the terms. However, neither of them trusts each other to honour the bet and they don’t have the time nor the money to appoint a third party to oversee the same.
Assuming both John and Peter were to use a smart contract platform such as Etherparty, to automatically settle the bet at the time of the contract negotiation, they’ll both link their blockchain based identities to the contract and set the terms, making it clear that as soon as the match is over, the program will find out who the winning side is and automatically credit the amount to the winners bank account from the losers. As soon as the match ends and media outlets report the same, the program will scour the internet for the prescribed sources, identify which team won, relate it to the terms of the contract, in this case since B won Peter gets the money from John and after intimating both the parties transfers $100 from John’s to Peter’s account.
After having executed, the smart contract will terminate and be inactive for all the time to come unless otherwise mentioned.
The use of a smart contract in this situation allowed the participants the following benefits:
•It was faster than getting together and settling the bet manually.
•Removed the issue of trust from the equation
•Eliminated the need for a trusted third party to handle the settlement on behalf of the parties involved.
Costed nothing to execute.
•Is secure in how it handles parameters and sensitive data.
•The associated data will remain in the blockchain platform they ran it on permanently and future bets can be placed on by calling the same function and giving it added inputs.
•Gradually over time, assuming John and Peter develop gambling addictions, the program will help them develop reliable statistics to gauge their winning streaks.
•It was faster than getting together and settling the bet manually.
•Removed the issue of trust from the equation
•Eliminated the need for a trusted third party to handle the settlement on behalf of the parties involved.
Costed nothing to execute.
•Is secure in how it handles parameters and sensitive data.
•The associated data will remain in the blockchain platform they ran it on permanently and future bets can be placed on by calling the same function and giving it added inputs.
•Gradually over time, assuming John and Peter develop gambling addictions, the program will help them develop reliable statistics to gauge their winning streaks.
FUN FACT : SECOND BEST ICO EVER
Ethereum is one of the best ICOS ever according ROI, but also has since grown into one of the largest blockchain projects in the market. The Ethereum project had its initial coin offering in the summer of 2014, where it sold 11.9 million Ether tokens to raise $16 million.
Ether’s issue price at the time of the crowdsale amounted to 0.311$, which is nothing contrasted to 1100$ we see today. The estimated return on investment on condition that you hodled all the years is 340,000.00%.
Only NXT is the ICO with a better ROI with astonishing 5,266,900.00%.
Ethereum is one of the best ICOS ever according ROI, but also has since grown into one of the largest blockchain projects in the market. The Ethereum project had its initial coin offering in the summer of 2014, where it sold 11.9 million Ether tokens to raise $16 million.
Ether’s issue price at the time of the crowdsale amounted to 0.311$, which is nothing contrasted to 1100$ we see today. The estimated return on investment on condition that you hodled all the years is 340,000.00%.
Only NXT is the ICO with a better ROI with astonishing 5,266,900.00%.
Fun Fact : CRYPTOKITTIES
CryptoKitties are collectible and breedable digital cats. It’s the world’s first game built on the Ethereum network. When two CryptoKitties breed, their offspring’s appearance and cattributes are determined by each parent’s 256-bit genome and an element of chance, leading to 4-billion possible genetic variations.
The most expensive cats are sold over 100k $
www.cryptokitties.co
CryptoKitties are collectible and breedable digital cats. It’s the world’s first game built on the Ethereum network. When two CryptoKitties breed, their offspring’s appearance and cattributes are determined by each parent’s 256-bit genome and an element of chance, leading to 4-billion possible genetic variations.
The most expensive cats are sold over 100k $
www.cryptokitties.co
How are transactions verified on a blockchain?
You might be wondering how these blockchain transactions are verified. After all, there are logistics involved, such as making sure that the same virtual coin isn't being spent twice. Often this verification falls onto a group of folks known as "miners."
Cryptocurrency miners are nothing more than people with high-powered computers who are competing against other people with high-powered computers to solve complex math equations. These equations are a product of the encryption designed to protect transaction data on the digital ledger.
The first miner to solve these equations, and in the process verify transactions on the ledger, gets a reward, which is known as a "block reward." This reward is paid out in virtual coins, and is an example of how bitcoin transactions are verified. This process is referred to as "proof of work."
The only other major verification process in place is known as "proof of stake." Instead of having people use tons of resources trying to solve complex equations to verify transactions, the proof of stake model chooses who gets to verify the next block of transactions based on their ownership in a virtual currency. In essence, the more you own, the better chance you have of getting to verify transactions. With proof of stake, there is no competition among your peers and no excessive energy usage while solving complex equations, which can make it much more cost-effective.
The proof of stake model also rewards those folks who verify transactions differently. Instead of being paid in virtual coins, the stakeholder earns the transaction fees tied to that block of transactions.
You might be wondering how these blockchain transactions are verified. After all, there are logistics involved, such as making sure that the same virtual coin isn't being spent twice. Often this verification falls onto a group of folks known as "miners."
Cryptocurrency miners are nothing more than people with high-powered computers who are competing against other people with high-powered computers to solve complex math equations. These equations are a product of the encryption designed to protect transaction data on the digital ledger.
The first miner to solve these equations, and in the process verify transactions on the ledger, gets a reward, which is known as a "block reward." This reward is paid out in virtual coins, and is an example of how bitcoin transactions are verified. This process is referred to as "proof of work."
The only other major verification process in place is known as "proof of stake." Instead of having people use tons of resources trying to solve complex equations to verify transactions, the proof of stake model chooses who gets to verify the next block of transactions based on their ownership in a virtual currency. In essence, the more you own, the better chance you have of getting to verify transactions. With proof of stake, there is no competition among your peers and no excessive energy usage while solving complex equations, which can make it much more cost-effective.
The proof of stake model also rewards those folks who verify transactions differently. Instead of being paid in virtual coins, the stakeholder earns the transaction fees tied to that block of transactions.
What is a bitcoin halving?
A bitcoin halving (sometimes ‘halvening’) is an event where the reward for mining new blocks is halved, meaning miners receive 50% fewer bitcoins for verifying transactions.
Bitcoin halvings are scheduled to occur once every 210,000 blocks – roughly every four years – until the maximum supply of 21 million bitcoins has been generated by the network.
A bitcoin halving (sometimes ‘halvening’) is an event where the reward for mining new blocks is halved, meaning miners receive 50% fewer bitcoins for verifying transactions.
Bitcoin halvings are scheduled to occur once every 210,000 blocks – roughly every four years – until the maximum supply of 21 million bitcoins has been generated by the network.
When is the next bitcoin halving?
The next bitcoin halving is expected to occur in the week commencing 18 May 2020, when the number of blocks hits 630,000. It will see the block reward fall from 12.5 to 6.25 bitcoins.
The exact date of the halving is not yet known as the time taken to generate new blocks varies, with the network averaging one block every ten minutes.
The next bitcoin halving is expected to occur in the week commencing 18 May 2020, when the number of blocks hits 630,000. It will see the block reward fall from 12.5 to 6.25 bitcoins.
The exact date of the halving is not yet known as the time taken to generate new blocks varies, with the network averaging one block every ten minutes.
https://coinmarketcap.com/halving/bitcoin/ According to coinmarketcap we are 10 days away from Halving
CoinMarketCap
When Is The Next Bitcoin Halving? [Updated] | CoinMarketCap | CoinMarketCap
Use our Bitcoin halving countdown to see the estimated date for 2024. Learn about the Bitcoin halving cycle, the previous dates, and the block reward schedule.
Forwarded from TecBay
Eth's Distribution
When we remove the smart contracts the distribution is now:
The top 100 represent 26.4M ETH.
The top 1k represents 42.5M ETH.
The top 10k represents 57.2M ETH. (56.7%)
When we remove the smart contracts the distribution is now:
The top 100 represent 26.4M ETH.
The top 1k represents 42.5M ETH.
The top 10k represents 57.2M ETH. (56.7%)
Forwarded from TecBay
Bitcoin's Top 10k Holders: 10.54M BTC (57.44%)
Ethereum's Top 10k Holders: 57.2M ETH (56.70%)
Based on individual holders, Ethereum is as equally distributed as Bitcoin.
Ethereum's Top 10k Holders: 57.2M ETH (56.70%)
Based on individual holders, Ethereum is as equally distributed as Bitcoin.
Forwarded from TecBay
How does that stack up to other networks?
In XRP 16 addresses hold 55.2% of XRP.
In BCH 1100 addresses hold 56.8% of BCH
In BSV 1250 addresses hold 55.6% of BSV
In Litecoin 300 addresses hold 54.3% of LTC
In Tron 1031 addresses hold 51.1% of TRX
In XRP 16 addresses hold 55.2% of XRP.
In BCH 1100 addresses hold 56.8% of BCH
In BSV 1250 addresses hold 55.6% of BSV
In Litecoin 300 addresses hold 54.3% of LTC
In Tron 1031 addresses hold 51.1% of TRX
What is multisig wallet?
A multisig wallet requires at least two key signatures to authorize a transaction. This means you will have to trust another party. Unlike storing funds on an exchange, however, you get to choose the identity of that third party, and even if that keyholder should betray you, they will unable to unilaterally access your funds.
Popular Wallets that support multisig:
1. Electrum [https://electrum.org]
2. Armory [https://www.bitcoinarmory.com]
3. Casa [https://keys.casa]
A multisig wallet requires at least two key signatures to authorize a transaction. This means you will have to trust another party. Unlike storing funds on an exchange, however, you get to choose the identity of that third party, and even if that keyholder should betray you, they will unable to unilaterally access your funds.
Popular Wallets that support multisig:
1. Electrum [https://electrum.org]
2. Armory [https://www.bitcoinarmory.com]
3. Casa [https://keys.casa]
electrum.org
Electrum Bitcoin Wallet
Electrum Bitcoin Wallet.