Bitcoin, Crypto currency, Blockchain

Tech-ECHO KW 34: script-free Atomic Swaps between Bitcoin-like networks, and Colored Coins

Developer in the Bitcoin environment has been much discussion about Rebalancing in the Lightning Network, the Bitcoin Cash can now produce additional approaches for tokenization, and the Bank of America has filed a crypto-relevant Patent.

If you say, behind China, the ETF Drama and “Price” of experts saw, in fact, also this week, an interesting world with technical News and Insights. Clearly, also in the technical area has not done this week so much. But overall, a lot of interesting news came together again. In the Bitcoin area are more Proposals and Paper, other Altcoins are already implemented innovations. Regarding Ethereum, we will look could on FOMO3D or someone to the price claim. Finally, both Bank of America as well as Factom patents in the Blockchain can provide. But enough preamble, let’s dive right in!

Bitcoin: the Stubborn Mining, Rebalancing in the Lightning Network and Atomic Swaps without a script

In addition to analyses on the Bitcoin fortune of Satoshi Nakamoto, there were some interesting publications in the Bitcoin area. We start with an interesting, if also very complex Paper: Cyril Grunspan and Ricardo Perez-Marco to analyze in a Paper the different variants of the so-called “Risky mining”. This is a variations of Selfish mining, the Miner, a number of blocks hold back until you have generated a longer Version of the original chain. In the mentioned Paper, the profitability of the various Stubborn-Mining is analyzed variants in more detail.

Regarding the Lightning Network, Robert Olsson has proposed a Rebalancing Scheme. The Lightning Network is explained, as elsewhere, a network of Payment Channels. Under certain circumstances, a Rebalancing of the various Payment Channels, the saved Funds can be useful. Robert Olsson is now proposing a process that is the same for all intermediate Nodes is advantageous, so that such a Rebalancing can be offered without fees.

Atomic Swaps affect not only Bitcoin, but Bitcoin and all similar Lightning-enabled block chains. So you can think of Litecoin or Vertcoin. Unfortunately, something under a Paper by Bryan Bishop, which is not for third parties, with the transmitter and the receiver attachable is gone. The Blockchain stores neither Hashes nor Preimages, so you can’t associate these two in the Swap-used transactions. Such a Proposal would, of course, contribute greatly to the privacy of Bitcoin.

Unfortunately, so far only as the Announcement available, the announcement of Mark peace Creek, that he has found a way to increase the block size by a factor of 3,600 to renew the Proof-of-Work-process, without the need for a Hard Fork. This On-Chain-scaling is supposed to be a backward-compatible Soft-Fork. Mark peace Bach will present his concept on the Scaling-Bitcoin-conference, on 7. October takes place.

Colored Coins on Bitcoin Cash and thrillers on the Ethereum block Chain

The androhende cleavage of Bitcoin and Cash thanks to Craig Wright’s Bitcoin SV has already been discussed. However, Bitcoin, Cash has had to show for this week, more than internal squabbles. The Developer Community behind Bitcoin Cash would like to implement in the context of a stress test on the first of September, five million On-Chain transactions. Over scale.cash can everyone in this stress test join – with an Invest of at least 15,000 Satoshi or $ 0.08.

Beyond the scaling issues, what does still in the Bitcoin Cash. The topic of the Tokenized Assets not passed on Bitcoins little brother. Using Cryptonize it can emit those interested in their own Colored tokens, i.e. tokens. You have to be a “Big Blocker” or a Fan of Roger Ver, and to recognize that some developers are working behind Bitcoin Cash constructively to the further development of the crypto currency.

In the Ethereum environment FOMO3D has already caused the end of July for attention. The App is a mixture of lottery and pyramid scheme that was the subject of controversy. Now the first round of Fomo3D ended with a winner. The address 0xa169 received over 10,000 ETH. SECBIT Labs was able to show that the Person took advantage of behind 0xa169 a special attack vector, and thus the number of transactions within blocks reduced at the end of the game dramatically, which increased the probability to be the winner. The entire Hack that reads more exciting than a crime, is processed by Coinmonks very rich in detail.

To whom the crime was not enough, there is a Sequel: SEBIT, together with AnChain.ai various other attacks on Smart Contracts analyzed. As a windigere Version of Fomo3D Last Winner came up, which could strongly cheat had to do with a Hacker group, over load, Winner of two million dollars in Ether. It would be beyond the scope of this article, on the details, but the detailed analysis is laid out.

Vote Decay in the case of EOS, and new language for Smart Contracts in Cardano

When talking about Smart Contract platforms no longer will pass now to EOS. The Community was able to celebrate a milestone: According to DappRadar two EOS were able to show-dApps alone, with significantly more transactions than all the Ethereum-dApps. EOS Dice came to 68,000 transactions, EOS Knights to 59,000 and all Ethereum-dApps to 55,000. But in the land of EOS, not everything is sunshine and roses. So an attacker can steal RAM. The EOS network requires RAM for the processing of the processes within a dApp. Through a Proxy Token, if you want to fix the Problem now.

Another Problem is the choice of fatigue in the EOS Ecosystem, which can lead to centralization. In a Video, the Block Producer crypto lions has pointed out that a poll Decay occurs, i.e. a passive behaviour results in a reduction of its own Voting Power, even if you are using a Proxies. Each of the active participants in the EOS Ecosystem, so it should be clear that even with the use of a proxy, i.e. an instance which selects for a, the choice of power shrinks with time.

With Smart Contracts it goes on: Cardano is not tired and developed (again) a new Smart-Contract-language. Marlowe has the goal to be a particularly for Finance, appropriate language, and was developed on the Basis of Haskell.

As at 27. August reported, was the IOTA show a lot lately. A couple of other, equally exciting projects have not had the Airplay, but showed nicely, what is happening on the Developer Front to IOTA. Eoin Coogan used IOTA to the development of a Monitoring – and-trade system for the trading of solar power-generated electricity. Another project called pact.online IOTA uses as a decentralized Ledger for a file-sharing System, which works with IPFS.

More News for Altcoins: a New Proof of Work for Monero and decentralized identity thanks to Ontology

Monero had a developer Meeting, its Executive summary, as well as the Chat Log of the page Monerobase can be found. Most important News is the Launch of a new Proof-of-Works, and that developers actually work on the light wallet. In addition, other developers have written a preliminary Version of the code for the Trezor Support.

According to Bitcoin and Ethereum may have with Ontology with a third crypto-currency, a decentralized Identifier method or, in short, DID. In the case of a DID it is a Version of the digital identity, which is not controlled by the decentralized entities, but independently. Some time ago, Phillip Horch shows wrote a column on the topic of identity, the Self, the significance of the subject-Sovereign Identity. It is interesting to note that with the Ontology, an unknown currency is the first Bitcoin and Ethereum.

New developments in the Blockchain sector: Various patents and Calypso

Factom has filed two block chain, relevant patent applications. At the beginning of August, the company has presented an approach to document validation, and on 23. August a further patent for a resolution on anonymous data transfer are presented. In the first case, one works with digital signatures on a Blockchain. These digital signatures can be obtained from data of different types. Everyone can verify the integrity of the documents via this digital signature. In the second case, especially, an algorithm should be used to Share secrets, with the volatile data on one or more of the block chains can be divided into.

But Factom is not the only company that has a Patent. Banks have filed in the last weeks and months, again and again, block, grove, relevant patents, and obviously don’t want to get a piece of the cake but secure. Bank of America has published a Patent on the topic of protection of Crypto-Assets. The core of this invention is a processor that stores data. The processor should encrypt the data with keys this data and the encrypted write on a Blockchain.

With Calypso, a team of researchers from Lausanne and the United States has published a approach that you write to private data on a Blockchain, and later audited. The achieved Calypso, by saving on the one hand, on chain of secrets and the second is the so-called Skipchains an identity and access management. The latter were presented in a further Paper. It is a combination of Skip Lists, and block chains, that is to say in order to easily searchable block chains.

You realize, it does, as always, much in the scene. This week, the focus was on Smart Contracts and digital identity on the other.

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