Monday, October 7, 2019

Proof of Sleep : Mind Boggling consensus approach

Introduction

Consensus is the backbone of the Bitcoin technology and is the reason for the Bitcoin to be widely famous since it mitigates the need for any third party mediation. Blockchain domain has around forty plus consensus algorithms as on date with many variants of Proof-of-Work ,Proof of Stake etc. 

"Proof of Sleep" consensus algorithm has been proposed to remove all existing energy dissipation issues in reaching consensus. This will also resolve complex cryptographic algorithms like DAG,Proof-of-Capacity, Proof-of-Burn etc at the click of a button. Welcome to the world of "Proof of Sleep", a new consensus algorithm wherein no energy issues and complexities are involved.

"Algorithm is based on the node admin in P2P sleeping time and essential vital parameters" as per the designer team based in Noida.

How it works?

The participating node admin will go to sleep as and when the need to attain consensus arises. More the number of people register at one node and more they sleep, the consensus is designed to get stronger and expedited. Thereafter the node breathe vitals and snoring decibels will be syncd with the "pre-sleep division" working in Washington, DC. The sole purpose of this division is to use the precog(nitive) potential of this node to prevent waking-up. The breathe vitals will include the exhale/inhale composition of gases. Once syncd,the cryptographic hash of the dreams will be recorded to generate an ultimate unique 4096 bit key. This will be back linked to the nearest person sleeping to this node which will be decided by the Open Shortest Path First (OSPF),an established routing protocol.

Completely based on dreams,the node thus has to fulfill certain QRs before being established as a node. The QRs for participation as a node have been submitted to ISO 14000 ,a series of environmental management standards.

Hyperledger ,the multi-project open source collaborative effort hosted by The Linux Foundation has taken keen interest to explore this. The Linux foundation plans to replace Apache Kafka in Hyperledger Fabric and RBFT in Hyperledger Indy with Proof of Sleep.

Satoshi ACTIVE again

Meanwhile as per fresh inputs received Satoshi Nakamoto's email id satoshin@gmx.com has got active this Friday again. Thus after a decade of sleep,Satoshi Nakamoto has consented to replace Proof of work with Proof of Sleep. This shows the kind of buzz and confidence this new consensus algorithm.  "Now that I had been sleeping over a decade,this algorithm fits fine and I intend replacing my proof of work with Proof of sleep. This will ensure that even as I sleep again, I would contribute to all the consensus taking place around " Satoshi Nakamoto mentioned in email, hinting at his sleep and vanishing act again.

Conclusion

Proof of Sleep is a turning point in the evolving domain of Blockchain and its consensus algorithms. The existing consensus algorithms have faced energy wastage issues across the globe. This path breaking algorithm is likely to shutdown all mining farms and pave way for a green consensus. Proof of sleep will bring the peaceful stone age earth times since maximum participating nodes will be in sleep mode. With maximum nodes sleeping,it couldnt have been better for a peaceful,no war,no ruckus earth,



[ NOTHING SERIOUS ABOUT THIS POST PLEASE : EXCUSE ME IF YOU HAVE SERIOUSLY READ THIS]

Sunday, February 4, 2018

Purely P2P Crypto-Currency With Finite Mini-Blockchain

Download here https://drive.google.com/open?id=1BrRWA1VX0hPepUGcuVSYsd6LDTTyhmI9

Source : https://pdfs.semanticscholar.org/3f64/123ce97a0079f8bea66d3f760dbb3e6b40d5.pdf

Abstract 

Almost all P2P crypto-currencies prevent double spending and similar such attacks with a bulky “blockchain” scheme, and the ones which do not typically use some sort of pseudo-centralized solution to manage the transactions. Here I propose a purely P2P crypto-currency scheme with a finite blockchain, dubbed the “mini-blockchain”. Each time a new block is solved the oldest block is trimmed from the end of the mini- blockchain so that it always has the same number of blocks. It is argued that the loss of security this trimming process incurs can be solved with a small “proof chain” and the loss of coin ownership data is solved with a database which holds the balance of all non-empty addresses, dubbed the “account tree”. The proof chain secures the mini- blockchain and the mini-blockchain secures the account tree. This paper will describe the way in which these three mechanisms can work together to form a system which provides a high level of integrity and security, yet is much slimmer than all other purely P2P currencies. It also offers other potential benefits such as faster transactions and lower fees, quicker network synchronization, support for high levels of traffic, more block space for custom messages, and increased anonymity.

J.D. Bruce
May 2013. Rev 1.
www.bitfreak.info

Thursday, November 16, 2017

BLOCKCHAINS IN NATIONAL DEFENSE: TRUSTWORTHY SYSTEMS IN A TRUSTLESS WORLD

Download here : Blockchains In National Defense: Trustworthy Systems In  A Trustless World

Source : http://www.dtic.mil/doctrine/education/jpme_papers/barnas_n.pdf

Extract from Abstract

The   ability   of the  USAF  to  prevail   in  the highly  contested  environment of 2040  will  be dictated by  its   ability   to   defend   cyber enabled  systems ,  and the  data within  them,  from compromise and manipulation.Yet contemporary  cyber defense  is faltering,  and incremental improvement s   seem  unlikely  to overcome   an  exponentially    growing   cyber  threat.    Thus,  an  entirely  new  model  for  cyber  defense  strategy  is  needed thats met by BLOCKCHAIN.   
Author Details
Neil  B. Barnas,  Major, USAF

Tuesday, November 14, 2017

HashGraph : An overview with example

Hashgraph is a superior consensus mechanism / data structure alternative to blockchain. A decentralized platform without servers built on Hashgraph technology will enable blockchain use cases to run:safe,secure and Fast.This pdf is a straight lift from http://www.swirlds.com

Monday, November 13, 2017

What is a Smart Contract? A Beginner’s Guide

A non technical,easy over view of what simply a Smart Contract means? Smart contracts help you exchange money, property, shares, or anything of value in a transparent, conflict-free way, while avoiding the services of a middleman. The best way to describe smart contracts is to compare the technology to a vending machine. Ordinarily, you would go to a lawyer or a notary, pay them, and wait while you get the document. With smart contracts, you simply drop a bitcoin into the vending machine (i.e. ledger), and your escrow, driver’s license, or whatever drops into your account. More so, smart contracts not only define the rules and penalties around an agreement in the same way that a traditional contract does, but also automatically enforce those obligations.


Tuesday, November 7, 2017

TRANSACTION MALLEABILITY : SIMPLY

Although little old video...but is good to give an easy to understand explanation on What Transaction Malleability is?

TRANSACTION MALLEABILITY : A DEMO TO GET AN OVERVIEW OF WHAT IT IS?

This is a demo of  presentation "Bitcoin Transaction Malleability" Theory in Practice" by Daniel Chechik. The demo simulates a trading website that is vulnerable to Transaction Malleability, by simply not following the transaction correctly. The attacker can exploit this vulnerability to receive more coins to his personal wallet than he originally should have in the first place.