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Why i’m bullish on Zilliqa (long read)

Edit: TL;DR added in the comments
 
Hey all, I've been researching coins since 2017 and have gone through 100s of them in the last 3 years. I got introduced to blockchain via Bitcoin of course, analyzed Ethereum thereafter and from that moment I have a keen interest in smart contact platforms. I’m passionate about Ethereum but I find Zilliqa to have a better risk-reward ratio. Especially because Zilliqa has found an elegant balance between being secure, decentralized and scalable in my opinion.
 
Below I post my analysis of why from all the coins I went through I’m most bullish on Zilliqa (yes I went through Tezos, EOS, NEO, VeChain, Harmony, Algorand, Cardano etc.). Note that this is not investment advice and although it's a thorough analysis there is obviously some bias involved. Looking forward to what you all think!
 
Fun fact: the name Zilliqa is a play on ‘silica’ silicon dioxide which means “Silicon for the high-throughput consensus computer.”
 
This post is divided into (i) Technology, (ii) Business & Partnerships, and (iii) Marketing & Community. I’ve tried to make the technology part readable for a broad audience. If you’ve ever tried understanding the inner workings of Bitcoin and Ethereum you should be able to grasp most parts. Otherwise, just skim through and once you are zoning out head to the next part.
 
Technology and some more:
 
Introduction
 
The technology is one of the main reasons why I’m so bullish on Zilliqa. First thing you see on their website is: “Zilliqa is a high-performance, high-security blockchain platform for enterprises and next-generation applications.” These are some bold statements.
 
Before we deep dive into the technology let’s take a step back in time first as they have quite the history. The initial research paper from which Zilliqa originated dates back to August 2016: Elastico: A Secure Sharding Protocol For Open Blockchains where Loi Luu (Kyber Network) is one of the co-authors. Other ideas that led to the development of what Zilliqa has become today are: Bitcoin-NG, collective signing CoSi, ByzCoin and Omniledger.
 
The technical white paper was made public in August 2017 and since then they have achieved everything stated in the white paper and also created their own open source intermediate level smart contract language called Scilla (functional programming language similar to OCaml) too.
 
Mainnet is live since the end of January 2019 with daily transaction rates growing continuously. About a week ago mainnet reached 5 million transactions, 500.000+ addresses in total along with 2400 nodes keeping the network decentralized and secure. Circulating supply is nearing 11 billion and currently only mining rewards are left. The maximum supply is 21 billion with annual inflation being 7.13% currently and will only decrease with time.
 
Zilliqa realized early on that the usage of public cryptocurrencies and smart contracts were increasing but decentralized, secure, and scalable alternatives were lacking in the crypto space. They proposed to apply sharding onto a public smart contract blockchain where the transaction rate increases almost linear with the increase in the amount of nodes. More nodes = higher transaction throughput and increased decentralization. Sharding comes in many forms and Zilliqa uses network-, transaction- and computational sharding. Network sharding opens up the possibility of using transaction- and computational sharding on top. Zilliqa does not use state sharding for now. We’ll come back to this later.
 
Before we continue dissecting how Zilliqa achieves such from a technological standpoint it’s good to keep in mind that a blockchain being decentralised and secure and scalable is still one of the main hurdles in allowing widespread usage of decentralised networks. In my opinion this needs to be solved first before blockchains can get to the point where they can create and add large scale value. So I invite you to read the next section to grasp the underlying fundamentals. Because after all these premises need to be true otherwise there isn’t a fundamental case to be bullish on Zilliqa, right?
 
Down the rabbit hole
 
How have they achieved this? Let’s define the basics first: key players on Zilliqa are the users and the miners. A user is anybody who uses the blockchain to transfer funds or run smart contracts. Miners are the (shard) nodes in the network who run the consensus protocol and get rewarded for their service in Zillings (ZIL). The mining network is divided into several smaller networks called shards, which is also referred to as ‘network sharding’. Miners subsequently are randomly assigned to a shard by another set of miners called DS (Directory Service) nodes. The regular shards process transactions and the outputs of these shards are eventually combined by the DS shard as they reach consensus on the final state. More on how these DS shards reach consensus (via pBFT) will be explained later on.
 
The Zilliqa network produces two types of blocks: DS blocks and Tx blocks. One DS Block consists of 100 Tx Blocks. And as previously mentioned there are two types of nodes concerned with reaching consensus: shard nodes and DS nodes. Becoming a shard node or DS node is being defined by the result of a PoW cycle (Ethash) at the beginning of the DS Block. All candidate mining nodes compete with each other and run the PoW (Proof-of-Work) cycle for 60 seconds and the submissions achieving the highest difficulty will be allowed on the network. And to put it in perspective: the average difficulty for one DS node is ~ 2 Th/s equaling 2.000.000 Mh/s or 55 thousand+ GeForce GTX 1070 / 8 GB GPUs at 35.4 Mh/s. Each DS Block 10 new DS nodes are allowed. And a shard node needs to provide around 8.53 GH/s currently (around 240 GTX 1070s). Dual mining ETH/ETC and ZIL is possible and can be done via mining software such as Phoenix and Claymore. There are pools and if you have large amounts of hashing power (Ethash) available you could mine solo.
 
The PoW cycle of 60 seconds is a peak performance and acts as an entry ticket to the network. The entry ticket is called a sybil resistance mechanism and makes it incredibly hard for adversaries to spawn lots of identities and manipulate the network with these identities. And after every 100 Tx Blocks which corresponds to roughly 1,5 hour this PoW process repeats. In between these 1,5 hour, no PoW needs to be done meaning Zilliqa’s energy consumption to keep the network secure is low. For more detailed information on how mining works click here.
Okay, hats off to you. You have made it this far. Before we go any deeper down the rabbit hole we first must understand why Zilliqa goes through all of the above technicalities and understand a bit more what a blockchain on a more fundamental level is. Because the core of Zilliqa’s consensus protocol relies on the usage of pBFT (practical Byzantine Fault Tolerance) we need to know more about state machines and their function. Navigate to Viewblock, a Zilliqa block explorer, and just come back to this article. We will use this site to navigate through a few concepts.
 
We have established that Zilliqa is a public and distributed blockchain. Meaning that everyone with an internet connection can send ZILs, trigger smart contracts, etc. and there is no central authority who fully controls the network. Zilliqa and other public and distributed blockchains (like Bitcoin and Ethereum) can also be defined as state machines.
 
Taking the liberty of paraphrasing examples and definitions given by Samuel Brooks’ medium article, he describes the definition of a blockchain (like Zilliqa) as: “A peer-to-peer, append-only datastore that uses consensus to synchronize cryptographically-secure data”.
 
Next, he states that: "blockchains are fundamentally systems for managing valid state transitions”. For some more context, I recommend reading the whole medium article to get a better grasp of the definitions and understanding of state machines. Nevertheless, let’s try to simplify and compile it into a single paragraph. Take traffic lights as an example: all its states (red, amber, and green) are predefined, all possible outcomes are known and it doesn’t matter if you encounter the traffic light today or tomorrow. It will still behave the same. Managing the states of a traffic light can be done by triggering a sensor on the road or pushing a button resulting in one traffic lights’ state going from green to red (via amber) and another light from red to green.
 
With public blockchains like Zilliqa, this isn’t so straightforward and simple. It started with block #1 almost 1,5 years ago and every 45 seconds or so a new block linked to the previous block is being added. Resulting in a chain of blocks with transactions in it that everyone can verify from block #1 to the current #647.000+ block. The state is ever changing and the states it can find itself in are infinite. And while the traffic light might work together in tandem with various other traffic lights, it’s rather insignificant comparing it to a public blockchain. Because Zilliqa consists of 2400 nodes who need to work together to achieve consensus on what the latest valid state is while some of these nodes may have latency or broadcast issues, drop offline or are deliberately trying to attack the network, etc.
 
Now go back to the Viewblock page take a look at the amount of transaction, addresses, block and DS height and then hit refresh. Obviously as expected you see new incremented values on one or all parameters. And how did the Zilliqa blockchain manage to transition from a previous valid state to the latest valid state? By using pBFT to reach consensus on the latest valid state.
 
After having obtained the entry ticket, miners execute pBFT to reach consensus on the ever-changing state of the blockchain. pBFT requires a series of network communication between nodes, and as such there is no GPU involved (but CPU). Resulting in the total energy consumed to keep the blockchain secure, decentralized and scalable being low.
 
pBFT stands for practical Byzantine Fault Tolerance and is an optimization on the Byzantine Fault Tolerant algorithm. To quote Blockonomi: “In the context of distributed systems, Byzantine Fault Tolerance is the ability of a distributed computer network to function as desired and correctly reach a sufficient consensus despite malicious components (nodes) of the system failing or propagating incorrect information to other peers.” Zilliqa is such a distributed computer network and depends on the honesty of the nodes (shard and DS) to reach consensus and to continuously update the state with the latest block. If pBFT is a new term for you I can highly recommend the Blockonomi article.
 
The idea of pBFT was introduced in 1999 - one of the authors even won a Turing award for it - and it is well researched and applied in various blockchains and distributed systems nowadays. If you want more advanced information than the Blockonomi link provides click here. And if you’re in between Blockonomi and the University of Singapore read the Zilliqa Design Story Part 2 dating from October 2017.
Quoting from the Zilliqa tech whitepaper: “pBFT relies upon a correct leader (which is randomly selected) to begin each phase and proceed when the sufficient majority exists. In case the leader is byzantine it can stall the entire consensus protocol. To address this challenge, pBFT offers a view change protocol to replace the byzantine leader with another one.”
 
pBFT can tolerate ⅓ of the nodes being dishonest (offline counts as Byzantine = dishonest) and the consensus protocol will function without stalling or hiccups. Once there are more than ⅓ of dishonest nodes but no more than ⅔ the network will be stalled and a view change will be triggered to elect a new DS leader. Only when more than ⅔ of the nodes are dishonest (66%) double-spend attacks become possible.
 
If the network stalls no transactions can be processed and one has to wait until a new honest leader has been elected. When the mainnet was just launched and in its early phases, view changes happened regularly. As of today the last stalling of the network - and view change being triggered - was at the end of October 2019.
 
Another benefit of using pBFT for consensus besides low energy is the immediate finality it provides. Once your transaction is included in a block and the block is added to the chain it’s done. Lastly, take a look at this article where three types of finality are being defined: probabilistic, absolute and economic finality. Zilliqa falls under the absolute finality (just like Tendermint for example). Although lengthy already we skipped through some of the inner workings from Zilliqa’s consensus: read the Zilliqa Design Story Part 3 and you will be close to having a complete picture on it. Enough about PoW, sybil resistance mechanism, pBFT, etc. Another thing we haven’t looked at yet is the amount of decentralization.
 
Decentralisation
 
Currently, there are four shards, each one of them consisting of 600 nodes. 1 shard with 600 so-called DS nodes (Directory Service - they need to achieve a higher difficulty than shard nodes) and 1800 shard nodes of which 250 are shard guards (centralized nodes controlled by the team). The amount of shard guards has been steadily declining from 1200 in January 2019 to 250 as of May 2020. On the Viewblock statistics, you can see that many of the nodes are being located in the US but those are only the (CPU parts of the) shard nodes who perform pBFT. There is no data from where the PoW sources are coming. And when the Zilliqa blockchain starts reaching its transaction capacity limit, a network upgrade needs to be executed to lift the current cap of maximum 2400 nodes to allow more nodes and formation of more shards which will allow to network to keep on scaling according to demand.
Besides shard nodes there are also seed nodes. The main role of seed nodes is to serve as direct access points (for end-users and clients) to the core Zilliqa network that validates transactions. Seed nodes consolidate transaction requests and forward these to the lookup nodes (another type of nodes) for distribution to the shards in the network. Seed nodes also maintain the entire transaction history and the global state of the blockchain which is needed to provide services such as block explorers. Seed nodes in the Zilliqa network are comparable to Infura on Ethereum.
 
The seed nodes were first only operated by Zilliqa themselves, exchanges and Viewblock. Operators of seed nodes like exchanges had no incentive to open them for the greater public. They were centralised at first. Decentralisation at the seed nodes level has been steadily rolled out since March 2020 ( Zilliqa Improvement Proposal 3 ). Currently the amount of seed nodes is being increased, they are public-facing and at the same time PoS is applied to incentivize seed node operators and make it possible for ZIL holders to stake and earn passive yields. Important distinction: seed nodes are not involved with consensus! That is still PoW as entry ticket and pBFT for the actual consensus.
 
5% of the block rewards are being assigned to seed nodes (from the beginning in 2019) and those are being used to pay out ZIL stakers. The 5% block rewards with an annual yield of 10.03% translate to roughly 610 MM ZILs in total that can be staked. Exchanges use the custodial variant of staking and wallets like Moonlet will use the non-custodial version (starting in Q3 2020). Staking is being done by sending ZILs to a smart contract created by Zilliqa and audited by Quantstamp.
 
With a high amount of DS; shard nodes and seed nodes becoming more decentralized too, Zilliqa qualifies for the label of decentralized in my opinion.
 
Smart contracts
 
Let me start by saying I’m not a developer and my programming skills are quite limited. So I‘m taking the ELI5 route (maybe 12) but if you are familiar with Javascript, Solidity or specifically OCaml please head straight to Scilla - read the docs to get a good initial grasp of how Zilliqa’s smart contract language Scilla works and if you ask yourself “why another programming language?” check this article. And if you want to play around with some sample contracts in an IDE click here. The faucet can be found here. And more information on architecture, dapp development and API can be found on the Developer Portal.
If you are more into listening and watching: check this recent webinar explaining Zilliqa and Scilla. Link is time-stamped so you’ll start right away with a platform introduction, roadmap 2020 and afterwards a proper Scilla introduction.
 
Generalized: programming languages can be divided into being ‘object-oriented’ or ‘functional’. Here is an ELI5 given by software development academy: * “all programs have two basic components, data – what the program knows – and behavior – what the program can do with that data. So object-oriented programming states that combining data and related behaviors in one place, is called “object”, which makes it easier to understand how a particular program works. On the other hand, functional programming argues that data and behavior are different things and should be separated to ensure their clarity.” *
 
Scilla is on the functional side and shares similarities with OCaml: OCaml is a general-purpose programming language with an emphasis on expressiveness and safety. It has an advanced type system that helps catch your mistakes without getting in your way. It's used in environments where a single mistake can cost millions and speed matters, is supported by an active community, and has a rich set of libraries and development tools. For all its power, OCaml is also pretty simple, which is one reason it's often used as a teaching language.
 
Scilla is blockchain agnostic, can be implemented onto other blockchains as well, is recognized by academics and won a so-called Distinguished Artifact Award award at the end of last year.
 
One of the reasons why the Zilliqa team decided to create their own programming language focused on preventing smart contract vulnerabilities is that adding logic on a blockchain, programming, means that you cannot afford to make mistakes. Otherwise, it could cost you. It’s all great and fun blockchains being immutable but updating your code because you found a bug isn’t the same as with a regular web application for example. And with smart contracts, it inherently involves cryptocurrencies in some form thus value.
 
Another difference with programming languages on a blockchain is gas. Every transaction you do on a smart contract platform like Zilliqa or Ethereum costs gas. With gas you basically pay for computational costs. Sending a ZIL from address A to address B costs 0.001 ZIL currently. Smart contracts are more complex, often involve various functions and require more gas (if gas is a new concept click here ).
 
So with Scilla, similar to Solidity, you need to make sure that “every function in your smart contract will run as expected without hitting gas limits. An improper resource analysis may lead to situations where funds may get stuck simply because a part of the smart contract code cannot be executed due to gas limits. Such constraints are not present in traditional software systems”. Scilla design story part 1
 
Some examples of smart contract issues you’d want to avoid are: leaking funds, ‘unexpected changes to critical state variables’ (example: someone other than you setting his or her address as the owner of the smart contract after creation) or simply killing a contract.
 
Scilla also allows for formal verification. Wikipedia to the rescue: In the context of hardware and software systems, formal verification is the act of proving or disproving the correctness of intended algorithms underlying a system with respect to a certain formal specification or property, using formal methods of mathematics.
 
Formal verification can be helpful in proving the correctness of systems such as: cryptographic protocols, combinational circuits, digital circuits with internal memory, and software expressed as source code.
 
Scilla is being developed hand-in-hand with formalization of its semantics and its embedding into the Coq proof assistant — a state-of-the art tool for mechanized proofs about properties of programs.”
 
Simply put, with Scilla and accompanying tooling developers can be mathematically sure and proof that the smart contract they’ve written does what he or she intends it to do.
 
Smart contract on a sharded environment and state sharding
 
There is one more topic I’d like to touch on: smart contract execution in a sharded environment (and what is the effect of state sharding). This is a complex topic. I’m not able to explain it any easier than what is posted here. But I will try to compress the post into something easy to digest.
 
Earlier on we have established that Zilliqa can process transactions in parallel due to network sharding. This is where the linear scalability comes from. We can define simple transactions: a transaction from address A to B (Category 1), a transaction where a user interacts with one smart contract (Category 2) and the most complex ones where triggering a transaction results in multiple smart contracts being involved (Category 3). The shards are able to process transactions on their own without interference of the other shards. With Category 1 transactions that is doable, with Category 2 transactions sometimes if that address is in the same shard as the smart contract but with Category 3 you definitely need communication between the shards. Solving that requires to make a set of communication rules the protocol needs to follow in order to process all transactions in a generalised fashion.
 
And this is where the downsides of state sharding comes in currently. All shards in Zilliqa have access to the complete state. Yes the state size (0.1 GB at the moment) grows and all of the nodes need to store it but it also means that they don’t need to shop around for information available on other shards. Requiring more communication and adding more complexity. Computer science knowledge and/or developer knowledge required links if you want to dig further: Scilla - language grammar Scilla - Foundations for Verifiable Decentralised Computations on a Blockchain Gas Accounting NUS x Zilliqa: Smart contract language workshop
 
Easier to follow links on programming Scilla https://learnscilla.com/home Ivan on Tech
 
Roadmap / Zilliqa 2.0
 
There is no strict defined roadmap but here are topics being worked on. And via the Zilliqa website there is also more information on the projects they are working on.
 
Business & Partnerships
 
It’s not only technology in which Zilliqa seems to be excelling as their ecosystem has been expanding and starting to grow rapidly. The project is on a mission to provide OpenFinance (OpFi) to the world and Singapore is the right place to be due to its progressive regulations and futuristic thinking. Singapore has taken a proactive approach towards cryptocurrencies by introducing the Payment Services Act 2019 (PS Act). Among other things, the PS Act will regulate intermediaries dealing with certain cryptocurrencies, with a particular focus on consumer protection and anti-money laundering. It will also provide a stable regulatory licensing and operating framework for cryptocurrency entities, effectively covering all crypto businesses and exchanges based in Singapore. According to PWC 82% of the surveyed executives in Singapore reported blockchain initiatives underway and 13% of them have already brought the initiatives live to the market. There is also an increasing list of organizations that are starting to provide digital payment services. Moreover, Singaporean blockchain developers Building Cities Beyond has recently created an innovation $15 million grant to encourage development on its ecosystem. This all suggests that Singapore tries to position itself as (one of) the leading blockchain hubs in the world.
 
Zilliqa seems to already take advantage of this and recently helped launch Hg Exchange on their platform, together with financial institutions PhillipCapital, PrimePartners and Fundnel. Hg Exchange, which is now approved by the Monetary Authority of Singapore (MAS), uses smart contracts to represent digital assets. Through Hg Exchange financial institutions worldwide can use Zilliqa's safe-by-design smart contracts to enable the trading of private equities. For example, think of companies such as Grab, Airbnb, SpaceX that are not available for public trading right now. Hg Exchange will allow investors to buy shares of private companies & unicorns and capture their value before an IPO. Anquan, the main company behind Zilliqa, has also recently announced that they became a partner and shareholder in TEN31 Bank, which is a fully regulated bank allowing for tokenization of assets and is aiming to bridge the gap between conventional banking and the blockchain world. If STOs, the tokenization of assets, and equity trading will continue to increase, then Zilliqa’s public blockchain would be the ideal candidate due to its strategic positioning, partnerships, regulatory compliance and the technology that is being built on top of it.
 
What is also very encouraging is their focus on banking the un(der)banked. They are launching a stablecoin basket starting with XSGD. As many of you know, stablecoins are currently mostly used for trading. However, Zilliqa is actively trying to broaden the use case of stablecoins. I recommend everybody to read this text that Amrit Kumar wrote (one of the co-founders). These stablecoins will be integrated in the traditional markets and bridge the gap between the crypto world and the traditional world. This could potentially revolutionize and legitimise the crypto space if retailers and companies will for example start to use stablecoins for payments or remittances, instead of it solely being used for trading.
 
Zilliqa also released their DeFi strategic roadmap (dating November 2019) which seems to be aligning well with their OpFi strategy. A non-custodial DEX is coming to Zilliqa made by Switcheo which allows cross-chain trading (atomic swaps) between ETH, EOS and ZIL based tokens. They also signed a Memorandum of Understanding for a (soon to be announced) USD stablecoin. And as Zilliqa is all about regulations and being compliant, I’m speculating on it to be a regulated USD stablecoin. Furthermore, XSGD is already created and visible on block explorer and XIDR (Indonesian Stablecoin) is also coming soon via StraitsX. Here also an overview of the Tech Stack for Financial Applications from September 2019. Further quoting Amrit Kumar on this:
 
There are two basic building blocks in DeFi/OpFi though: 1) stablecoins as you need a non-volatile currency to get access to this market and 2) a dex to be able to trade all these financial assets. The rest are built on top of these blocks.
 
So far, together with our partners and community, we have worked on developing these building blocks with XSGD as a stablecoin. We are working on bringing a USD-backed stablecoin as well. We will soon have a decentralised exchange developed by Switcheo. And with HGX going live, we are also venturing into the tokenization space. More to come in the future.”
 
Additionally, they also have this ZILHive initiative that injects capital into projects. There have been already 6 waves of various teams working on infrastructure, innovation and research, and they are not from ASEAN or Singapore only but global: see Grantees breakdown by country. Over 60 project teams from over 20 countries have contributed to Zilliqa's ecosystem. This includes individuals and teams developing wallets, explorers, developer toolkits, smart contract testing frameworks, dapps, etc. As some of you may know, Unstoppable Domains (UD) blew up when they launched on Zilliqa. UD aims to replace cryptocurrency addresses with a human-readable name and allows for uncensorable websites. Zilliqa will probably be the only one able to handle all these transactions onchain due to ability to scale and its resulting low fees which is why the UD team launched this on Zilliqa in the first place. Furthermore, Zilliqa also has a strong emphasis on security, compliance, and privacy, which is why they partnered with companies like Elliptic, ChainSecurity (part of PwC Switzerland), and Incognito. Their sister company Aqilliz (Zilliqa spelled backwards) focuses on revolutionizing the digital advertising space and is doing interesting things like using Zilliqa to track outdoor digital ads with companies like Foodpanda.
 
Zilliqa is listed on nearly all major exchanges, having several different fiat-gateways and recently have been added to Binance’s margin trading and futures trading with really good volume. They also have a very impressive team with good credentials and experience. They don't just have “tech people”. They have a mix of tech people, business people, marketeers, scientists, and more. Naturally, it's good to have a mix of people with different skill sets if you work in the crypto space.
 
Marketing & Community
 
Zilliqa has a very strong community. If you just follow their Twitter their engagement is much higher for a coin that has approximately 80k followers. They also have been ‘coin of the day’ by LunarCrush many times. LunarCrush tracks real-time cryptocurrency value and social data. According to their data, it seems Zilliqa has a more fundamental and deeper understanding of marketing and community engagement than almost all other coins. While almost all coins have been a bit frozen in the last months, Zilliqa seems to be on its own bull run. It was somewhere in the 100s a few months ago and is currently ranked #46 on CoinGecko. Their official Telegram also has over 20k people and is very active, and their community channel which is over 7k now is more active and larger than many other official channels. Their local communities also seem to be growing.
 
Moreover, their community started ‘Zillacracy’ together with the Zilliqa core team ( see www.zillacracy.com ). It’s a community-run initiative where people from all over the world are now helping with marketing and development on Zilliqa. Since its launch in February 2020 they have been doing a lot and will also run their own non-custodial seed node for staking. This seed node will also allow them to start generating revenue for them to become a self sustaining entity that could potentially scale up to become a decentralized company working in parallel with the Zilliqa core team. Comparing it to all the other smart contract platforms (e.g. Cardano, EOS, Tezos etc.) they don't seem to have started a similar initiative (correct me if I’m wrong though). This suggests in my opinion that these other smart contract platforms do not fully understand how to utilize the ‘power of the community’. This is something you cannot ‘buy with money’ and gives many projects in the space a disadvantage.
 
Zilliqa also released two social products called SocialPay and Zeeves. SocialPay allows users to earn ZILs while tweeting with a specific hashtag. They have recently used it in partnership with the Singapore Red Cross for a marketing campaign after their initial pilot program. It seems like a very valuable social product with a good use case. I can see a lot of traditional companies entering the space through this product, which they seem to suggest will happen. Tokenizing hashtags with smart contracts to get network effect is a very smart and innovative idea.
 
Regarding Zeeves, this is a tipping bot for Telegram. They already have 1000s of signups and they plan to keep upgrading it for more and more people to use it (e.g. they recently have added a quiz features). They also use it during AMAs to reward people in real-time. It’s a very smart approach to grow their communities and get familiar with ZIL. I can see this becoming very big on Telegram. This tool suggests, again, that the Zilliqa team has a deeper understanding of what the crypto space and community needs and is good at finding the right innovative tools to grow and scale.
 
To be honest, I haven’t covered everything (i’m also reaching the character limited haha). So many updates happening lately that it's hard to keep up, such as the International Monetary Fund mentioning Zilliqa in their report, custodial and non-custodial Staking, Binance Margin, Futures, Widget, entering the Indian market, and more. The Head of Marketing Colin Miles has also released this as an overview of what is coming next. And last but not least, Vitalik Buterin has been mentioning Zilliqa lately acknowledging Zilliqa and mentioning that both projects have a lot of room to grow. There is much more info of course and a good part of it has been served to you on a silver platter. I invite you to continue researching by yourself :-) And if you have any comments or questions please post here!
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Why i’m bullish on Zilliqa (long read)

Hey all, I've been researching coins since 2017 and have gone through 100s of them in the last 3 years. I got introduced to blockchain via Bitcoin of course, analysed Ethereum thereafter and from that moment I have a keen interest in smart contact platforms. I’m passionate about Ethereum but I find Zilliqa to have a better risk reward ratio. Especially because Zilliqa has found an elegant balance between being secure, decentralised and scalable in my opinion.
 
Below I post my analysis why from all the coins I went through I’m most bullish on Zilliqa (yes I went through Tezos, EOS, NEO, VeChain, Harmony, Algorand, Cardano etc.). Note that this is not investment advice and although it's a thorough analysis there is obviously some bias involved. Looking forward to what you all think!
 
Fun fact: the name Zilliqa is a play on ‘silica’ silicon dioxide which means “Silicon for the high-throughput consensus computer.”
 
This post is divided into (i) Technology, (ii) Business & Partnerships, and (iii) Marketing & Community. I’ve tried to make the technology part readable for a broad audience. If you’ve ever tried understanding the inner workings of Bitcoin and Ethereum you should be able to grasp most parts. Otherwise just skim through and once you are zoning out head to the next part.
 
Technology and some more:
 
Introduction The technology is one of the main reasons why I’m so bullish on Zilliqa. First thing you see on their website is: “Zilliqa is a high-performance, high-security blockchain platform for enterprises and next-generation applications.” These are some bold statements.
 
Before we deep dive into the technology let’s take a step back in time first as they have quite the history. The initial research paper from which Zilliqa originated dates back to August 2016: Elastico: A Secure Sharding Protocol For Open Blockchains where Loi Luu (Kyber Network) is one of the co-authors. Other ideas that led to the development of what Zilliqa has become today are: Bitcoin-NG, collective signing CoSi, ByzCoin and Omniledger.
 
The technical white paper was made public in August 2017 and since then they have achieved everything stated in the white paper and also created their own open source intermediate level smart contract language called Scilla (functional programming language similar to OCaml) too.
 
Mainnet is live since end of January 2019 with daily transaction rate growing continuously. About a week ago mainnet reached 5 million transactions, 500.000+ addresses in total along with 2400 nodes keeping the network decentralised and secure. Circulating supply is nearing 11 billion and currently only mining rewards are left. Maximum supply is 21 billion with annual inflation being 7.13% currently and will only decrease with time.
 
Zilliqa realised early on that the usage of public cryptocurrencies and smart contracts were increasing but decentralised, secure and scalable alternatives were lacking in the crypto space. They proposed to apply sharding onto a public smart contract blockchain where the transaction rate increases almost linear with the increase in amount of nodes. More nodes = higher transaction throughput and increased decentralisation. Sharding comes in many forms and Zilliqa uses network-, transaction- and computational sharding. Network sharding opens up the possibility of using transaction- and computational sharding on top. Zilliqa does not use state sharding for now. We’ll come back to this later.
 
Before we continue disecting how Zilliqa achieves such from a technological standpoint it’s good to keep in mind that a blockchain being decentralised and secure and scalable is still one of the main hurdles in allowing widespread usage of decentralised networks. In my opinion this needs to be solved first before blockchains can get to the point where they can create and add large scale value. So I invite you to read the next section to grasp the underlying fundamentals. Because after all these premises need to be true otherwise there isn’t a fundamental case to be bullish on Zilliqa, right?
 
Down the rabbit hole
 
How have they achieved this? Let’s define the basics first: key players on Zilliqa are the users and the miners. A user is anybody who uses the blockchain to transfer funds or run smart contracts. Miners are the (shard) nodes in the network who run the consensus protocol and get rewarded for their service in Zillings (ZIL). The mining network is divided into several smaller networks called shards, which is also referred to as ‘network sharding’. Miners subsequently are randomly assigned to a shard by another set of miners called DS (Directory Service) nodes. The regular shards process transactions and the outputs of these shards are eventually combined by the DS shard as they reach consensus on the final state. More on how these DS shards reach consensus (via pBFT) will be explained later on.
 
The Zilliqa network produces two types of blocks: DS blocks and Tx blocks. One DS Block consists of 100 Tx Blocks. And as previously mentioned there are two types of nodes concerned with reaching consensus: shard nodes and DS nodes. Becoming a shard node or DS node is being defined by the result of a PoW cycle (Ethash) at the beginning of the DS Block. All candidate mining nodes compete with each other and run the PoW (Proof-of-Work) cycle for 60 seconds and the submissions achieving the highest difficulty will be allowed on the network. And to put it in perspective: the average difficulty for one DS node is ~ 2 Th/s equaling 2.000.000 Mh/s or 55 thousand+ GeForce GTX 1070 / 8 GB GPUs at 35.4 Mh/s. Each DS Block 10 new DS nodes are allowed. And a shard node needs to provide around 8.53 GH/s currently (around 240 GTX 1070s). Dual mining ETH/ETC and ZIL is possible and can be done via mining software such as Phoenix and Claymore. There are pools and if you have large amounts of hashing power (Ethash) available you could mine solo.
 
The PoW cycle of 60 seconds is a peak performance and acts as an entry ticket to the network. The entry ticket is called a sybil resistance mechanism and makes it incredibly hard for adversaries to spawn lots of identities and manipulate the network with these identities. And after every 100 Tx Blocks which corresponds to roughly 1,5 hour this PoW process repeats. In between these 1,5 hour no PoW needs to be done meaning Zilliqa’s energy consumption to keep the network secure is low. For more detailed information on how mining works click here.
Okay, hats off to you. You have made it this far. Before we go any deeper down the rabbit hole we first must understand why Zilliqa goes through all of the above technicalities and understand a bit more what a blockchain on a more fundamental level is. Because the core of Zilliqa’s consensus protocol relies on the usage of pBFT (practical Byzantine Fault Tolerance) we need to know more about state machines and their function. Navigate to Viewblock, a Zilliqa block explorer, and just come back to this article. We will use this site to navigate through a few concepts.
 
We have established that Zilliqa is a public and distributed blockchain. Meaning that everyone with an internet connection can send ZILs, trigger smart contracts etc. and there is no central authority who fully controls the network. Zilliqa and other public and distributed blockchains (like Bitcoin and Ethereum) can also be defined as state machines.
 
Taking the liberty of paraphrasing examples and definitions given by Samuel Brooks’ medium article, he describes the definition of a blockchain (like Zilliqa) as:
“A peer-to-peer, append-only datastore that uses consensus to synchronise cryptographically-secure data”.
 
Next he states that: >“blockchains are fundamentally systems for managing valid state transitions”.* For some more context, I recommend reading the whole medium article to get a better grasp of the definitions and understanding of state machines. Nevertheless, let’s try to simplify and compile it into a single paragraph. Take traffic lights as an example: all its states (red, amber and green) are predefined, all possible outcomes are known and it doesn’t matter if you encounter the traffic light today or tomorrow. It will still behave the same. Managing the states of a traffic light can be done by triggering a sensor on the road or pushing a button resulting in one traffic lights’ state going from green to red (via amber) and another light from red to green.
 
With public blockchains like Zilliqa this isn’t so straightforward and simple. It started with block #1 almost 1,5 years ago and every 45 seconds or so a new block linked to the previous block is being added. Resulting in a chain of blocks with transactions in it that everyone can verify from block #1 to the current #647.000+ block. The state is ever changing and the states it can find itself in are infinite. And while the traffic light might work together in tandem with various other traffic lights, it’s rather insignificant comparing it to a public blockchain. Because Zilliqa consists of 2400 nodes who need to work together to achieve consensus on what the latest valid state is while some of these nodes may have latency or broadcast issues, drop offline or are deliberately trying to attack the network etc.
 
Now go back to the Viewblock page take a look at the amount of transaction, addresses, block and DS height and then hit refresh. Obviously as expected you see new incremented values on one or all parameters. And how did the Zilliqa blockchain manage to transition from a previous valid state to the latest valid state? By using pBFT to reach consensus on the latest valid state.
 
After having obtained the entry ticket, miners execute pBFT to reach consensus on the ever changing state of the blockchain. pBFT requires a series of network communication between nodes, and as such there is no GPU involved (but CPU). Resulting in the total energy consumed to keep the blockchain secure, decentralised and scalable being low.
 
pBFT stands for practical Byzantine Fault Tolerance and is an optimisation on the Byzantine Fault Tolerant algorithm. To quote Blockonomi: “In the context of distributed systems, Byzantine Fault Tolerance is the ability of a distributed computer network to function as desired and correctly reach a sufficient consensus despite malicious components (nodes) of the system failing or propagating incorrect information to other peers.” Zilliqa is such a distributed computer network and depends on the honesty of the nodes (shard and DS) to reach consensus and to continuously update the state with the latest block. If pBFT is a new term for you I can highly recommend the Blockonomi article.
 
The idea of pBFT was introduced in 1999 - one of the authors even won a Turing award for it - and it is well researched and applied in various blockchains and distributed systems nowadays. If you want more advanced information than the Blockonomi link provides click here. And if you’re in between Blockonomi and University of Singapore read the Zilliqa Design Story Part 2 dating from October 2017.
Quoting from the Zilliqa tech whitepaper: “pBFT relies upon a correct leader (which is randomly selected) to begin each phase and proceed when the sufficient majority exists. In case the leader is byzantine it can stall the entire consensus protocol. To address this challenge, pBFT offers a view change protocol to replace the byzantine leader with another one.”
 
pBFT can tolerate ⅓ of the nodes being dishonest (offline counts as Byzantine = dishonest) and the consensus protocol will function without stalling or hiccups. Once there are more than ⅓ of dishonest nodes but no more than ⅔ the network will be stalled and a view change will be triggered to elect a new DS leader. Only when more than ⅔ of the nodes are dishonest (>66%) double spend attacks become possible.
 
If the network stalls no transactions can be processed and one has to wait until a new honest leader has been elected. When the mainnet was just launched and in its early phases, view changes happened regularly. As of today the last stalling of the network - and view change being triggered - was at the end of October 2019.
 
Another benefit of using pBFT for consensus besides low energy is the immediate finality it provides. Once your transaction is included in a block and the block is added to the chain it’s done. Lastly, take a look at this article where three types of finality are being defined: probabilistic, absolute and economic finality. Zilliqa falls under the absolute finality (just like Tendermint for example). Although lengthy already we skipped through some of the inner workings from Zilliqa’s consensus: read the Zilliqa Design Story Part 3 and you will be close to having a complete picture on it. Enough about PoW, sybil resistance mechanism, pBFT etc. Another thing we haven’t looked at yet is the amount of decentralisation.
 
Decentralisation
 
Currently there are four shards, each one of them consisting of 600 nodes. 1 shard with 600 so called DS nodes (Directory Service - they need to achieve a higher difficulty than shard nodes) and 1800 shard nodes of which 250 are shard guards (centralised nodes controlled by the team). The amount of shard guards has been steadily declining from 1200 in January 2019 to 250 as of May 2020. On the Viewblock statistics you can see that many of the nodes are being located in the US but those are only the (CPU parts of the) shard nodes who perform pBFT. There is no data from where the PoW sources are coming. And when the Zilliqa blockchain starts reaching their transaction capacity limit, a network upgrade needs to be executed to lift the current cap of maximum 2400 nodes to allow more nodes and formation of more shards which will allow to network to keep on scaling according to demand.
Besides shard nodes there are also seed nodes. The main role of seed nodes is to serve as direct access points (for end users and clients) to the core Zilliqa network that validates transactions. Seed nodes consolidate transaction requests and forward these to the lookup nodes (another type of nodes) for distribution to the shards in the network. Seed nodes also maintain the entire transaction history and the global state of the blockchain which is needed to provide services such as block explorers. Seed nodes in the Zilliqa network are comparable to Infura on Ethereum.
 
The seed nodes were first only operated by Zilliqa themselves, exchanges and Viewblock. Operators of seed nodes like exchanges had no incentive to open them for the greater public.They were centralised at first. Decentralisation at the seed nodes level has been steadily rolled out since March 2020 ( Zilliqa Improvement Proposal 3 ). Currently the amount of seed nodes is being increased, they are public facing and at the same time PoS is applied to incentivize seed node operators and make it possible for ZIL holders to stake and earn passive yields. Important distinction: seed nodes are not involved with consensus! That is still PoW as entry ticket and pBFT for the actual consensus.
 
5% of the block rewards are being assigned to seed nodes (from the beginning in 2019) and those are being used to pay out ZIL stakers.The 5% block rewards with an annual yield of 10.03% translates to roughly 610 MM ZILs in total that can be staked. Exchanges use the custodial variant of staking and wallets like Moonlet will use the non custodial version (starting in Q3 2020). Staking is being done by sending ZILs to a smart contract created by Zilliqa and audited by Quantstamp.
 
With a high amount of DS & shard nodes and seed nodes becoming more decentralised too, Zilliqa qualifies for the label of decentralised in my opinion.
 
Smart contracts
 
Let me start by saying I’m not a developer and my programming skills are quite limited. So I‘m taking the ELI5 route (maybe 12) but if you are familiar with Javascript, Solidity or specifically OCaml please head straight to Scilla - read the docs to get a good initial grasp of how Zilliqa’s smart contract language Scilla works and if you ask yourself “why another programming language?” check this article. And if you want to play around with some sample contracts in an IDE click here. Faucet can be found here. And more information on architecture, dapp development and API can be found on the Developer Portal.
If you are more into listening and watching: check this recent webinar explaining Zilliqa and Scilla. Link is time stamped so you’ll start right away with a platform introduction, R&D roadmap 2020 and afterwards a proper Scilla introduction.
 
Generalised: programming languages can be divided into being ‘object oriented’ or ‘functional’. Here is an ELI5 given by software development academy: > “all programmes have two basic components, data – what the programme knows – and behaviour – what the programme can do with that data. So object-oriented programming states that combining data and related behaviours in one place, is called “object”, which makes it easier to understand how a particular program works. On the other hand, functional programming argues that data and behaviour are different things and should be separated to ensure their clarity.”
 
Scilla is on the functional side and shares similarities with OCaml: > OCaml is a general purpose programming language with an emphasis on expressiveness and safety. It has an advanced type system that helps catch your mistakes without getting in your way. It's used in environments where a single mistake can cost millions and speed matters, is supported by an active community, and has a rich set of libraries and development tools. For all its power, OCaml is also pretty simple, which is one reason it's often used as a teaching language.
 
Scilla is blockchain agnostic, can be implemented onto other blockchains as well, is recognised by academics and won a so called Distinguished Artifact Award award at the end of last year.
 
One of the reasons why the Zilliqa team decided to create their own programming language focused on preventing smart contract vulnerabilities safety is that adding logic on a blockchain, programming, means that you cannot afford to make mistakes. Otherwise it could cost you. It’s all great and fun blockchains being immutable but updating your code because you found a bug isn’t the same as with a regular web application for example. And with smart contracts it inherently involves cryptocurrencies in some form thus value.
 
Another difference with programming languages on a blockchain is gas. Every transaction you do on a smart contract platform like Zilliqa for Ethereum costs gas. With gas you basically pay for computational costs. Sending a ZIL from address A to address B costs 0.001 ZIL currently. Smart contracts are more complex, often involve various functions and require more gas (if gas is a new concept click here ).
 
So with Scilla, similar to Solidity, you need to make sure that “every function in your smart contract will run as expected without hitting gas limits. An improper resource analysis may lead to situations where funds may get stuck simply because a part of the smart contract code cannot be executed due to gas limits. Such constraints are not present in traditional software systems”. Scilla design story part 1
 
Some examples of smart contract issues you’d want to avoid are: leaking funds, ‘unexpected changes to critical state variables’ (example: someone other than you setting his or her address as the owner of the smart contract after creation) or simply killing a contract.
 
Scilla also allows for formal verification. Wikipedia to the rescue:
In the context of hardware and software systems, formal verification is the act of proving or disproving the correctness of intended algorithms underlying a system with respect to a certain formal specification or property, using formal methods of mathematics.
 
Formal verification can be helpful in proving the correctness of systems such as: cryptographic protocols, combinational circuits, digital circuits with internal memory, and software expressed as source code.
 
Scilla is being developed hand-in-hand with formalization of its semantics and its embedding into the Coq proof assistant — a state-of-the art tool for mechanized proofs about properties of programs.”
 
Simply put, with Scilla and accompanying tooling developers can be mathematically sure and proof that the smart contract they’ve written does what he or she intends it to do.
 
Smart contract on a sharded environment and state sharding
 
There is one more topic I’d like to touch on: smart contract execution in a sharded environment (and what is the effect of state sharding). This is a complex topic. I’m not able to explain it any easier than what is posted here. But I will try to compress the post into something easy to digest.
 
Earlier on we have established that Zilliqa can process transactions in parallel due to network sharding. This is where the linear scalability comes from. We can define simple transactions: a transaction from address A to B (Category 1), a transaction where a user interacts with one smart contract (Category 2) and the most complex ones where triggering a transaction results in multiple smart contracts being involved (Category 3). The shards are able to process transactions on their own without interference of the other shards. With Category 1 transactions that is doable, with Category 2 transactions sometimes if that address is in the same shard as the smart contract but with Category 3 you definitely need communication between the shards. Solving that requires to make a set of communication rules the protocol needs to follow in order to process all transactions in a generalised fashion.
 
And this is where the downsides of state sharding comes in currently. All shards in Zilliqa have access to the complete state. Yes the state size (0.1 GB at the moment) grows and all of the nodes need to store it but it also means that they don’t need to shop around for information available on other shards. Requiring more communication and adding more complexity. Computer science knowledge and/or developer knowledge required links if you want to dig further: Scilla - language grammar Scilla - Foundations for Verifiable Decentralised Computations on a Blockchain Gas Accounting NUS x Zilliqa: Smart contract language workshop
 
Easier to follow links on programming Scilla https://learnscilla.com/home Ivan on Tech
 
Roadmap / Zilliqa 2.0
 
There is no strict defined roadmap but here are topics being worked on. And via the Zilliqa website there is also more information on the projects they are working on.
 
Business & Partnerships  
It’s not only technology in which Zilliqa seems to be excelling as their ecosystem has been expanding and starting to grow rapidly. The project is on a mission to provide OpenFinance (OpFi) to the world and Singapore is the right place to be due to its progressive regulations and futuristic thinking. Singapore has taken a proactive approach towards cryptocurrencies by introducing the Payment Services Act 2019 (PS Act). Among other things, the PS Act will regulate intermediaries dealing with certain cryptocurrencies, with a particular focus on consumer protection and anti-money laundering. It will also provide a stable regulatory licensing and operating framework for cryptocurrency entities, effectively covering all crypto businesses and exchanges based in Singapore. According to PWC 82% of the surveyed executives in Singapore reported blockchain initiatives underway and 13% of them have already brought the initiatives live to the market. There is also an increasing list of organisations that are starting to provide digital payment services. Moreover, Singaporean blockchain developers Building Cities Beyond has recently created an innovation $15 million grant to encourage development on its ecosystem. This all suggest that Singapore tries to position itself as (one of) the leading blockchain hubs in the world.
 
Zilliqa seems to already taking advantage of this and recently helped launch Hg Exchange on their platform, together with financial institutions PhillipCapital, PrimePartners and Fundnel. Hg Exchange, which is now approved by the Monetary Authority of Singapore (MAS), uses smart contracts to represent digital assets. Through Hg Exchange financial institutions worldwide can use Zilliqa's safe-by-design smart contracts to enable the trading of private equities. For example, think of companies such as Grab, AirBnB, SpaceX that are not available for public trading right now. Hg Exchange will allow investors to buy shares of private companies & unicorns and capture their value before an IPO. Anquan, the main company behind Zilliqa, has also recently announced that they became a partner and shareholder in TEN31 Bank, which is a fully regulated bank allowing for tokenization of assets and is aiming to bridge the gap between conventional banking and the blockchain world. If STOs, the tokenization of assets, and equity trading will continue to increase, then Zilliqa’s public blockchain would be the ideal candidate due to its strategic positioning, partnerships, regulatory compliance and the technology that is being built on top of it.
 
What is also very encouraging is their focus on banking the un(der)banked. They are launching a stablecoin basket starting with XSGD. As many of you know, stablecoins are currently mostly used for trading. However, Zilliqa is actively trying to broaden the use case of stablecoins. I recommend everybody to read this text that Amrit Kumar wrote (one of the co-founders). These stablecoins will be integrated in the traditional markets and bridge the gap between the crypto world and the traditional world. This could potentially revolutionize and legitimise the crypto space if retailers and companies will for example start to use stablecoins for payments or remittances, instead of it solely being used for trading.
 
Zilliqa also released their DeFi strategic roadmap (dating November 2019) which seems to be aligning well with their OpFi strategy. A non-custodial DEX is coming to Zilliqa made by Switcheo which allows cross-chain trading (atomic swaps) between ETH, EOS and ZIL based tokens. They also signed a Memorandum of Understanding for a (soon to be announced) USD stablecoin. And as Zilliqa is all about regulations and being compliant, I’m speculating on it to be a regulated USD stablecoin. Furthermore, XSGD is already created and visible on block explorer and XIDR (Indonesian Stablecoin) is also coming soon via StraitsX. Here also an overview of the Tech Stack for Financial Applications from September 2019. Further quoting Amrit Kumar on this:
 
There are two basic building blocks in DeFi/OpFi though: 1) stablecoins as you need a non-volatile currency to get access to this market and 2) a dex to be able to trade all these financial assets. The rest are build on top of these blocks.
 
So far, together with our partners and community, we have worked on developing these building blocks with XSGD as a stablecoin. We are working on bringing a USD-backed stablecoin as well. We will soon have a decentralised exchange developed by Switcheo. And with HGX going live, we are also venturing into the tokenization space. More to come in the future.”*
 
Additionally, they also have this ZILHive initiative that injects capital into projects. There have been already 6 waves of various teams working on infrastructure, innovation and research, and they are not from ASEAN or Singapore only but global: see Grantees breakdown by country. Over 60 project teams from over 20 countries have contributed to Zilliqa's ecosystem. This includes individuals and teams developing wallets, explorers, developer toolkits, smart contract testing frameworks, dapps, etc. As some of you may know, Unstoppable Domains (UD) blew up when they launched on Zilliqa. UD aims to replace cryptocurrency addresses with a human readable name and allows for uncensorable websites. Zilliqa will probably be the only one able to handle all these transactions onchain due to ability to scale and its resulting low fees which is why the UD team launched this on Zilliqa in the first place. Furthermore, Zilliqa also has a strong emphasis on security, compliance, and privacy, which is why they partnered with companies like Elliptic, ChainSecurity (part of PwC Switzerland), and Incognito. Their sister company Aqilliz (Zilliqa spelled backwards) focuses on revolutionizing the digital advertising space and is doing interesting things like using Zilliqa to track outdoor digital ads with companies like Foodpanda.
 
Zilliqa is listed on nearly all major exchanges, having several different fiat-gateways and recently have been added to Binance’s margin trading and futures trading with really good volume. They also have a very impressive team with good credentials and experience. They dont just have “tech people”. They have a mix of tech people, business people, marketeers, scientists, and more. Naturally, it's good to have a mix of people with different skill sets if you work in the crypto space.
 
Marketing & Community
 
Zilliqa has a very strong community. If you just follow their Twitter their engagement is much higher for a coin that has approximately 80k followers. They also have been ‘coin of the day’ by LunarCrush many times. LunarCrush tracks real-time cryptocurrency value and social data. According to their data it seems Zilliqa has a more fundamental and deeper understanding of marketing and community engagement than almost all other coins. While almost all coins have been a bit frozen in the last months, Zilliqa seems to be on its own bull run. It was somewhere in the 100s a few months ago and is currently ranked #46 on CoinGecko. Their official Telegram also has over 20k people and is very active, and their community channel which is over 7k now is more active and larger than many other official channels. Their local communities) also seem to be growing.
 
Moreover, their community started ‘Zillacracy’ together with the Zilliqa core team ( see www.zillacracy.com ). It’s a community run initiative where people from all over the world are now helping with marketing and development on Zilliqa. Since its launch in February 2020 they have been doing a lot and will also run their own non custodial seed node for staking. This seed node will also allow them to start generating revenue for them to become a self sustaining entity that could potentially scale up to become a decentralized company working in parallel with the Zilliqa core team. Comparing it to all the other smart contract platforms (e.g. Cardano, EOS, Tezos etc.) they don't seem to have started a similar initiatives (correct me if I’m wrong though). This suggest in my opinion that these other smart contract platforms do not fully understand how to utilize the ‘power of the community’. This is something you cannot ‘buy with money’ and gives many projects in the space a disadvantage.
 
Zilliqa also released two social products called SocialPay and Zeeves. SocialPay allows users to earn ZILs while tweeting with a specific hashtag. They have recently used it in partnership with the Singapore Red Cross for a marketing campaign after their initial pilot program. It seems like a very valuable social product with a good use case. I can see a lot of traditional companies entering the space through this product, which they seem to suggest will happen. Tokenizing hashtags with smart contracts to get network effect is a very smart and innovative idea.
 
Regarding Zeeves, this is a tipping bot for Telegram. They already have 1000s of signups and they plan to keep upgrading it for more and more people to use it (e.g. they recently have added a quiz features). They also use it during AMAs to reward people in real time. It’s a very smart approach to grow their communities and get familiar with ZIL. I can see this becoming very big on Telegram. This tool suggests, again, that the Zilliqa team has a deeper understanding what the crypto space and community needs and is good at finding the right innovative tools to grow and scale.
 
To be honest, I haven’t covered everything (i’m also reaching the character limited haha). So many updates happening lately that it's hard to keep up, such as the International Monetary Fund mentioning Zilliqa in their report, custodial and non-custodial Staking, Binance Margin, Futures & Widget, entering the Indian market, and more. The Head of Marketing Colin Miles has also released this as an overview of what is coming next. And last but not least, Vitalik Buterin has been mentioning Zilliqa lately acknowledging Zilliqa and mentioning that both projects have a lot of room to grow. There is much more info of course and a good part of it has been served to you on a silver platter. I invite you to continue researching by yourself :-) And if you have any comments or questions please post here!
submitted by haveyouheardaboutit to CryptoCurrency [link] [comments]

⚡ Lightning Network Megathread ⚡

Last updated 2018-01-29
This post is a collaboration with the Bitcoin community to create a one-stop source for Lightning Network information.
There are still questions in the FAQ that are unanswered, if you know the answer and can provide a source please do so!

⚡What is the Lightning Network? ⚡

Explanations:

Image Explanations:

Specifications / White Papers

Videos

Lightning Network Experts on Reddit

  • starkbot - (Elizabeth Stark - Lightning Labs)
  • roasbeef - (Olaoluwa Osuntokun - Lightning Labs)
  • stile65 - (Alex Akselrod - Lightning Labs)
  • cfromknecht - (Conner Fromknecht - Lightning Labs)
  • RustyReddit - (Rusty Russell - Blockstream)
  • cdecker - (Christian Decker - Blockstream)
  • Dryja - (Tadge Dryja - Digital Currency Initiative)
  • josephpoon - (Joseph Poon)
  • fdrn - (Fabrice Drouin - ACINQ )
  • pmpadiou - (Pierre-Marie Padiou - ACINQ)

Lightning Network Experts on Twitter

  • @starkness - (Elizabeth Stark - Lightning Labs)
  • @roasbeef - (Olaoluwa Osuntokun - Lightning Labs)
  • @stile65 - (Alex Akselrod - Lightning Labs)
  • @bitconner - (Conner Fromknecht - Lightning Labs)
  • @johanth - (Johan Halseth - Lightning Labs)
  • @bvu - (Bryan Vu - Lightning Labs)
  • @rusty_twit - (Rusty Russell - Blockstream)
  • @snyke - (Christian Decker - Blockstream)
  • @JackMallers - (Jack Mallers - Zap)
  • @tdryja - (Tadge Dryja - Digital Currency Initiative)
  • @jcp - (Joseph Poon)
  • @alexbosworth - (Alex Bosworth - yalls.org)

Medium Posts

Learning Resources

Books

Desktop Interfaces

Web Interfaces

Tutorials and resources

Lightning on Testnet

Lightning Wallets

Place a testnet transaction

Altcoin Trading using Lightning

  • ZigZag - Disclaimer You must trust ZigZag to send to Target Address

Lightning on Mainnet

Warning - Testing should be done on Testnet

Atomic Swaps

Developer Documentation and Resources

Lightning implementations

  • LND - Lightning Network Daemon (Golang)
  • eclair - A Scala implementation of the Lightning Network (Scala)
  • c-lightning - A Lightning Network implementation in C
  • lit - Lightning Network node software (Golang)
  • lightning-onion - Onion Routed Micropayments for the Lightning Network (Golang)
  • lightning-integration - Lightning Integration Testing Framework
  • ptarmigan - C++ BOLT-Compliant Lightning Network Implementation [Incomplete]

Libraries

Lightning Network Visualizers/Explorers

Testnet

Mainnet

Payment Processors

  • BTCPay - Next stable version will include Lightning Network

Community

Slack

IRC

Slack Channel

Discord Channel

Miscellaneous

⚡ Lightning FAQs ⚡

If you can answer please PM me and include source if possible. Feel free to help keep these answers up to date and as brief but correct as possible
Is Lightning Bitcoin?
Yes. You pick a peer and after some setup, create a bitcoin transaction to fund the lightning channel; it’ll then take another transaction to close it and release your funds. You and your peer always hold a bitcoin transaction to get your funds whenever you want: just broadcast to the blockchain like normal. In other words, you and your peer create a shared account, and then use Lightning to securely negotiate who gets how much from that shared account, without waiting for the bitcoin blockchain.
Is the Lightning Network open source?
Yes, Lightning is open source. Anyone can review the code (in the same way as the bitcoin code)
Who owns and controls the Lightning Network?
Similar to the bitcoin network, no one will ever own or control the Lightning Network. The code is open source and free for anyone to download and review. Anyone can run a node and be part of the network.
I’ve heard that Lightning transactions are happening “off-chain”…Does that mean that my bitcoin will be removed from the blockchain?
No, your bitcoin will never leave the blockchain. Instead your bitcoin will be held in a multi-signature address as long as your channel stays open. When the channel is closed; the final transaction will be added to the blockchain. “Off-chain” is not a perfect term, but it is used due to the fact that the transfer of ownership is no longer reflected on the blockchain until the channel is closed.
Do I need a constant connection to run a lightning node?
Not necessarily,
Example: A and B have a channel. 1 BTC each. A sends B 0.5 BTC. B sends back 0.25 BTC. Balance should be A = 0.75, B = 1.25. If A gets disconnected, B can publish the first Tx where the balance was A = 0.5 and B = 1.5. If the node B does in fact attempt to cheat by publishing an old state (such as the A=0.5 and B=1.5 state), this cheat can then be detected on-chain and used to steal the cheaters funds, i.e., A can see the closing transaction, notice it's an old one and grab all funds in the channel (A=2, B=0). The time that A has in order to react to the cheating counterparty is given by the CheckLockTimeVerify (CLTV) in the cheating transaction, which is adjustable. So if A foresees that it'll be able to check in about once every 24 hours it'll require that the CLTV is at least that large, if it's once a week then that's fine too. You definitely do not need to be online and watching the chain 24/7, just make sure to check in once in a while before the CLTV expires. Alternatively you can outsource the watch duties, in order to keep the CLTV timeouts low. This can be achieved both with trusted third parties or untrusted ones (watchtowers). In the case of a unilateral close, e.g., you just go offline and never come back, the other endpoint will have to wait for that timeout to expire to get its funds back. So peers might not accept channels with extremely high CLTV timeouts. -- Source
What Are Lightning’s Advantages?
Tiny payments are possible: since fees are proportional to the payment amount, you can pay a fraction of a cent; accounting is even done in thousandths of a satoshi. Payments are settled instantly: the money is sent in the time it takes to cross the network to your destination and back, typically a fraction of a second.
Does Lightning require Segregated Witness?
Yes, but not in theory. You could make a poorer lightning network without it, which has higher risks when establishing channels (you might have to wait a month if things go wrong!), has limited channel lifetime, longer minimum payment expiry times on each hop, is less efficient and has less robust outsourcing. The entire spec as written today assumes segregated witness, as it solves all these problems.
Can I Send Funds From Lightning to a Normal Bitcoin Address?
No, for now. For the first version of the protocol, if you wanted to send a normal bitcoin transaction using your channel, you have to close it, send the funds, then reopen the channel (3 transactions). In future versions, you and your peer would agree to spend out of your lightning channel funds just like a normal bitcoin payment, allowing you to use your lightning wallet like a normal bitcoin wallet.
Can I Make Money Running a Lightning Node?
Not really. Anyone can set up a node, and so it’s a race to the bottom on fees. In practice, we may see the network use a nominal fee and not change very much, which only provides an incremental incentive to route on a node you’re going to use yourself, and not enough to run one merely for fees. Having clients use criteria other than fees (e.g. randomness, diversity) in route selection will also help this.
What is the release date for Lightning on Mainnet?
Lightning is already being tested on the Mainnet Twitter Link but as for a specific date, Jameson Lopp says it best
Would there be any KYC/AML issues with certain nodes?
Nope, because there is no custody ever involved. It's just like forwarding packets. -- Source
What is the delay time for the recipient of a transaction receiving confirmation?
Furthermore, the Lightning Network scales not with the transaction throughput of the underlying blockchain, but with modern data processing and latency limits - payments can be made nearly as quickly as packets can be sent. -- Source
How does the lightning network prevent centralization?
Bitcoin Stack Exchange Answer
What are Channel Factories and how do they work?
Bitcoin Stack Exchange Answer
How does the Lightning network work in simple terms?
Bitcoin Stack Exchange Answer
How are paths found in Lightning Network?
Bitcoin Stack Exchange Answer
How would the lightning network work between exchanges?
Each exchange will get to decide and need to implement the software into their system, but some ideas have been outlined here: Google Doc - Lightning Exchanges
Note that by virtue of the usual benefits of cost-less, instantaneous transactions, lightning will make arbitrage between exchanges much more efficient and thus lead to consistent pricing across exchange that adopt it. -- Source
How do lightning nodes find other lightning nodes?
Stack Exchange Answer
Does every user need to store the state of the complete Lightning Network?
According to Rusty's calculations we should be able to store 1 million nodes in about 100 MB, so that should work even for mobile phones. Beyond that we have some proposals ready to lighten the load on endpoints, but we'll cross that bridge when we get there. -- Source
Would I need to download the complete state every time I open the App and make a payment?
No you'd remember the information from the last time you started the app and only sync the differences. This is not yet implemented, but it shouldn't be too hard to get a preliminary protocol working if that turns out to be a problem. -- Source
What needs to happen for the Lightning Network to be deployed and what can I do as a user to help?
Lightning is based on participants in the network running lightning node software that enables them to interact with other nodes. This does not require being a full bitcoin node, but you will have to run "lnd", "eclair", or one of the other node softwares listed above.
All lightning wallets have node software integrated into them, because that is necessary to create payment channels and conduct payments on the network, but you can also intentionally run lnd or similar for public benefit - e.g. you can hold open payment channels or channels with higher volume, than you need for your own transactions. You would be compensated in modest fees by those who transact across your node with multi-hop payments. -- Source
Is there anyway for someone who isn't a developer to meaningfully contribute?
Sure, you can help write up educational material. You can learn and read more about the tech at http://dev.lightning.community/resources. You can test the various desktop and mobile apps out there (Lightning Desktop, Zap, Eclair apps). -- Source
Do I need to be a miner to be a Lightning Network node?
No -- Source
Do I need to run a full Bitcoin node to run a lightning node?
lit doesn't depend on having your own full node -- it automatically connects to full nodes on the network. -- Source
LND uses a light client mode, so it doesn't require a full node. The name of the light client it uses is called neutrino
How does the lightning network stop "Cheating" (Someone broadcasting an old transaction)?
Upon opening a channel, the two endpoints first agree on a reserve value, below which the channel balance may not drop. This is to make sure that both endpoints always have some skin in the game as rustyreddit puts it :-)
For a cheat to become worth it, the opponent has to be absolutely sure that you cannot retaliate against him during the timeout. So he has to make sure you never ever get network connectivity during that time. Having someone else also watching for channel closures and notifying you, or releasing a canned retaliation, makes this even harder for the attacker. This is because if he misjudged you being truly offline you can retaliate by grabbing all of its funds. Spotty connections, DDoS, and similar will not provide the attacker the necessary guarantees to make cheating worthwhile. Any form of uncertainty about your online status acts as a deterrent to the other endpoint. -- Source
How many times would someone need to open and close their lightning channels?
You typically want to have more than one channel open at any given time for redundancy's sake. And we imagine open and close will probably be automated for the most part. In fact we already have a feature in LND called autopilot that can automatically open channels for a user.
Frequency will depend whether the funds are needed on-chain or more useful on LN. -- Source
Will the lightning network reduce BTC Liquidity due to "locking-up" funds in channels?
Stack Exchange Answer
Can the Lightning Network work on any other cryptocurrency? How?
Stack Exchange Answer
When setting up a Lightning Network Node are fees set for the entire node, or each channel when opened?
You don't really set up a "node" in the sense that anyone with more than one channel can automatically be a node and route payments. Fees on LN can be set by the node, and can change dynamically on the network. -- Source
Can Lightning routing fees be changed dynamically, without closing channels?
Yes but it has to be implemented in the Lightning software being used. -- Source
How can you make sure that there will be routes with large enough balances to handle transactions?
You won't have to do anything. With autopilot enabled, it'll automatically open and close channels based on the availability of the network. -- Source
How does the Lightning Network stop flooding nodes (DDoS) with micro transactions? Is this even an issue?
Stack Exchange Answer

Unanswered Questions

How do on-chain fees work when opening and closing channels? Who pays the fee?
How does the Lightning Network work for mobile users?
What are the best practices for securing a lightning node?
What is a lightning "hub"?
How does lightning handle cross chain (Atomic) swaps?

Special Thanks and Notes

  • Many links found from awesome-lightning-network github
  • Everyone who submitted a question or concern!
  • I'm continuing to format for an easier Mobile experience!
submitted by codedaway to Bitcoin [link] [comments]

New to Banano? Check this FAQ first!

What is Banano?

Banano is a feeless and instant cryptocurrency powered by DAG technology that is rich in potassium and designed to disrupt the meme economy. It's a fork of Nano with more memes and lower PoW requirement. Banano was born on April 1, 2018, so the project is still quite young. See a very brief conceptual summary here: https://gfycat.com/MenacingPointedAmericansaddlebred
Don't want to read all the below? See a brief summary of all you need to know and all important links on one page at https://banano.how

Why is Banano?

Don't let your memes be dreams!

What is the total supply of Banano?

The total supply is 3,402,823,669.20 BANANO (which is 10x the initial Nano supply).
The circulating supply currently changes a lot, as does the market cap. You can check current price estimations here:
https://creeper.banano.cc/exploreexchange_rates
or at our first bigger exchange, Mercatox:
https://mercatox.com/exchange/BAN/BTC

https://mercatox.com/exchange/BAN/XRB

Do you have a whitepaper?

We will have something even better; the yellow paper. It is yet to be released. It will contain not only the philosophy and the technology behind the Project, but also MEMES!

What's the difference between NANO and BANANO?

BANANO is running on the same technological base as NANO, although some parameters like PoW threshold and units were tweaked. The biggest difference is the governance, with BANANO being a meme coin with more fun, freedom and creative experiments.

Where to find out more about Banano?

Official links and social media channels:
Website: https://banano.co.in/
Discord: http://chat.banano.co.in/
Reddit: https://www.reddit.com/bananocoin/
Twitter: https://twitter.com/bananocoin/
Telegram: http://tg.banano.how/
Instagram: http://ig.banano.how
Discord Banano game server: http://games.banano.how/
Make sure to join our Discord, that's where the community is most active, with regular giveaways and two bantastic TipBots! This subreddit also has a Banano TipBot.
Banano Network Explorer: https://creeper.banano.cc/
Banano Network Status: https://creeper.banano.cc/network
Banano Node Monitor: https://banano.nifni.net/index.php
Github: https://github.com/bananocoin
Other seriously official Banano websites:
http://bananograil.com/
https://banano.fun/
https://banano.date/

Are there non-official Banano projects/websites?

Yes, there are lots of ongoing community-organised projects and initiatives. Many are organised on the Discord Server.
Here are just a few examples:
The Banano essence on one page: https://banano.how
Betting website: https://bananobet.com/
News/HowTo Website: http://howtobanano.info
Unofficial mobile wallet (android, beta, be careful when using): https://play.google.com/store/apps/details?id=co.in.bananowallet

Is there a short overview of how to get started that I can share with my friends?

Yes, check out https://banano.how

Which wallet should I use for Banano?

Official web wallet (also works on mobile): https://vault.banano.co.in/
Kalium - Official mobile wallet (Android, iOS coming soon): http://kalium.banano.how
Otherwise you need to create extra wallets on reddit and discord if you like to receive tips there.

Instructions:

Reddit: https://np.reddit.com/bananocoin/wiki/reddit-tipbot
Discord: http://chat.banano.how

Where do I get Banano?

You can be tipped free Banano here or on the discord for being active or contributing to the community. Otherwise there are regular giveaways, contests and small airdrops mostly happening on the discord server all the time.
Hint: If you are new here and tell us below about your first impression and how you found us you might actually get some tasty free Banano right away ;)
Banano is freely distributed and is not sold by the devs through some sort of ICO. They distribute it to their community for free! This is also why there are regular faucet game events.
Apart from this, you also can buy Banano at the exchange Mercatox: https://mercatox.com/

Current events:

Banano Papertoy Contest: http://toy.banano.how
Banano Minecraft Server: http://minecraft.banano.how

Which faucet games and when are they active?

Banano Runner:
A graphical runner game where you collect Bananas which then are paid out as Banano to your wallet. This happens regularly, but be sure to only play when the game is active. The game evolves and changes a bit over time, see here an excellent summary and getting started guide from CastrosBallsack: https://www.reddit.com/bananocoin/comments/8w02q3/anyone_excited_about_banano_runner_if_not_you/
Another faucet game is Monkey Match - this one can be played through a website which is online when the game is active (https://bananosecure.coranos.io/).

How do I know when a game is active?

Keep your eyes open for official announcements on the Discord. Sometimes these games can start on short notice. Mostly the start of faucet game events will also be announced via Twitter, here at Reddit and the Telegram group. Don't play the game without confirming first that an event is running!

I have played a faucet game, when will I receive the payment?

Be a bit patient, all game results are carefully checked by the devs to detect cheating/bot usage. Since they have also lots of other things to do it might take a few days or even more than a few days before you receive your Banano from faucet games. Don't worry, everything will be paid out.

Is Banano listed on an exchange?

Yes, on Mercatox, with Nano (XRB) and Bitcoin (BTC) pairs: https://mercatox.com/
Also, there is an ongoing vote for Banano to get listed at Coinex, supported by a 1000 Ban bounty for everyone who votes. More details at http://vote.banano.how

Are there any airdrops?

There has been an airdrop to Nano holders before, see https://banano.claims/. There also will be future airdrops, keep your eyes open for announcements!

Can I buy Banano?

Banano is mainly distributed to everyone for free as mentioned above. However, you can buy Banano from other users directly with Nano at the discord in the #jungle-bazaar channel. These trades are safe when using the on-board escrow bot. Check out this detailed step-by-step guide:
https://www.reddit.com/CryptoCurrency/comments/8yj0nt/how_to_buy_the_hot_new_meme_coin_banano_using_an/
Now you also can buy Banano on Mercatox, with Nano (XRB) and Bitcoin (BTC) pairs: https://mercatox.com/

What's the current Banano price?

You can check this website for current conversion rates: https://creeper.banano.cc/exploreexchange_rates
However, be aware that this price calculation (based on discord trades) will not always be 100% accurate.
Otherwise check current prices at Mercatox:
https://mercatox.com/exchange/BAN/BTC
https://mercatox.com/exchange/BAN/XRB

My question is not listed here, where to ask for help?

You can post your question below or ask it at the discord, in the channel #the-jungle. Many community members are nice and will happily help you!

I have feedback, suggestions or ideas? Where can I leave them?

All this best goes to the reddit feedback thread you always will find here: http://feedback.banano.how
Feedback is highly appreciated, and if you have great ideas, time, or special talents, you should also post there, join us and contribute!

Anything else important to know?

Yes! Be cautious! No official or dev will ever request you to send Banano or other crypto, or ask you for a password or your seed. Keep your seed safe! Be careful about scammers impersonating to be devs, team-members or official mods. Also, always be cautious about people offering you to buy Banano, only trades through the escrow bot in the Discord (#jungle-bazaar) are safe! Be careful, scammers are everywhere. Ask one of the moderators in case of any doubt!
Ok, that should be the essential part for now. Any suggestions/updates? More questions? Comment below!
Big thanks to the great meme artist CastrosBallsack for helping to create this FAQ.
Last update: 2018-10-01
submitted by howtobanano to bananocoin [link] [comments]

LOCAL REMIT: Everything you need to Know

Local Remit is a Decentralized Peer to Peer Crypto Marketplace.
During the genesis of Cryptocurrency right after Satoshi had created bitcoin, the only way you could get bitcoin was if you mined it, faucets, get it from someone for free, donations, peer to peer trade/transaction. Exchanges like mt. Gox came later.
Since then the Peer to peer marketplaces have been lagging behind until the emergence of single coin marketplaces like localbitcoins and localethereum. The success of the named P2P exchanges despite very little publicity has paved way for Local Remit Marketplace to thrive!
Our P2P Marketplace will have 5 of the major Coins and we will be adding more as time goes.
Read more on our Whitepaper.
🎯Download Local Remit Whitepaper on www.localremit.com
🎯AIRDROP:
Airdrop started on 14th Sept and will end on 28th Sept. LRT Tokens Earned During this period will be distributed 2 weeks after Main Token sale (Starting 1st Nov. ) to ensure those who participate in Presale and ICO get to be the first to trade when we get listed.
JOIN NOW: http://t.me/localremitbot?start=6761373492
During the week of Airdrop Distribution we will have a form where you will fill to confirm all social accounts used to complete tasks.
ENSURE YOU COMPLETE ALL AIRDROP TASKS ON AIRDROP BOT TO AVOID COMPLICATIONS DURING DISTRIBUTION.
They take like 30 seconds and help Local Remit grow.
For [b]ABSOLUTE[/b] Crypto Newbies please read what an Airdrop is here: https://en.wikipedia.org/wiki/Airdrop_(cryptocurrency))
🎯BOUNTY:
Bounty program starts on 25th September and will Run until the end of token sale (31st October).
🎯PRESALE:
Presale starts on 28th September to 15th October.
🎯MAIN TOKEN SALE:
Main Token sale will start on 15th October immediately after Presale ends and will Run for 2 weeks Only.
🎯EXCHANGE LISTING:
LRT Token will start to be traded on 1st November and we will spend most of the month getting LRT listed in as many exchanges as possible. We will Publish polls on twitter to determine the best exchanges to get listed on by factoring our community preferences.
🎯LOCAL REMIT DEVELOPMENT:
Local Remit Marketplace will start recruiting more developers after Token sale and Major development will start November. Currently our Development has some of the best guys in the field. Check out profile on the website. Our Lead developer has PhD in Computer Science. Local Remit Beta will start Testing on March 2019 and be open to a select group before end of March 2019.
You can read more about our Project by downloading and going through our Whitepaper. www.Localremit.com
submitted by PerfectTradition to LocalRemit [link] [comments]

such beginner shibe thread wow how to get coin

 how to shibecoin v rich in minutes much instruct so simple any doge can do 

START HERE

UPDATE 1/21/14: I'm not updating this guide anymore. Most of the steps should still work though. See the wiki or check the sidebar for updated instructions.
Before you do anything else, you need to get a wallet. Until there's a secure online wallet, this means you need to download the dogecoin client.
Now open the client you just downloaded. You'll be given a default address automatically, and it should connect to peers and start downloading the dogechain (aka blockchain in formal speak). You'll know because there will be a progress bar at the bottom and at the lower right there should be a signal strength icon (TODO: add screenshots).
If you've waited 2 or 3 minutes and nothing is happening, copy this:
maxconnections=100 addnode=95.85.29.144 addnode=162.243.113.110 addnode=146.185.181.114 addnode=188.165.19.28 addnode=166.78.155.36 addnode=doge.scryptpools.com addnode=doge.netcodepool.org addnode=doge.pool.webxass.de addnode=doge.cryptopool.it addnode=pool.testserverino.de addnode=doge.luckyminers.com addnode=doge.cryptovalley.com addnode=miner.coinedup.comdoge addnode=doge.cryptoculture.net addnode=dogepool.pw addnode=doge.gentoomen.org addnode=doge.cryptominer.net addnode=67.205.20.10 addnode=162.243.113.110 addnode=78.46.57.132 
And paste it into a new text file called dogecoin.conf, which you then place into the dogecoin app directory.
Now restart your qt client and the blockchain should start downloading in about 1-2 minutes.
Once it finished downloading, you're ready to send and receive Dogecoins!

GETTING COINS

Decide how you want to get Dogecoin. Your options are:
I'll go into detail about each of these. I'm currently writing this out. I'll make edits as I add sections. Suggestions are welcome.

MINING

Mining is how new dogecoins are created. If you're new to crypto currencies, read this. To mine (also called "digging"), a computer with a decent GPU (graphics card) is recommended. You can also mine with your CPU, but it's not as efficient.

GPU MINING

These instructions cover only Windows for now. To mine, you'll need to figure out what GPU you have. It'll be either AMD/ATI or Nvidia. The setup for both is approximately the same.

Step One: Choose a pool

There's a list of pools on the wiki. For now it doesn't really matter which one you choose. You can easily switch later.
NOTE: You can mine in two ways. Solo mining is where you mine by yourself. When you find a block you get all the reward. Pool mining is when you team up with other miners to work on the same block together. This makes it more likely that you'll find a block, but you won't get all of it, you'll have to split it up with others according to your share of the work. Pool mining is recommended because it gives you frequent payouts, because you find more blocks. The larger the pool you join, the more frequent the payouts, but the smaller the reward you get.
Over a long period of time the difference between pool and solo mining goes away, but if you solo mine it might be months before you get any coins.

Step two: Set up pool account

The pool you chose should have a getting started page. Read it and follow the instructions. Instructions vary but the general idea is:
When you're done with this, you'll need to know:

Step three: Download mining software

For best performance you'll need the right mining software.
Unzip the download anywhere you want.

Step four: Set up miner

Create a text file in the same folder as your miner application. Inside, put the command you'll be running (remove brackets).
For AMD it's cgminer.exe --scrypt -o stratum+tcp://: -u -p
For Nvidia it's cudaminer.exe -o stratum+tcp://: -O :
Substitute the right stuff in for the placeholders. Then on the next line of the text file type pause. This will let you see any errors that you get. Then save the file with any name you want, as long as the file extension is .bat. For example mine_serverName.bat.

Step five: Launch your miner

Just open the .bat file and a command line window should pop up, letting you know that the miner is starting. Once it starts, it should print out your hash rate.
If you now go to the pool website, the dashboard should start showing your hashrate. At first it'll be lower than what it says in the miner, but that's because the dashboard is taking a 5 minute average. It'll catch up soon enough.
NOTE: A normal hashrate is between 50 Kh/s up to even 1 Mh/s depending on your GPU.

You're now mining Dogecoins

That's it, nothing more to it.

CPU MINING

CPU mining isn't really recommended, because you'll be spending a lot on more on power than you'd make from mining Dogecoin. You could better spend that money on buying Dogecoin by trading. But if you have free electricity and want to try it out, check out this informative forum post.

Trading

Trading has been difficult so far, but Dogecoin just got added to a few new exchanges. If you don't have a giant mining rig, this is probably the best way to get 100k or more dogecoins at the moment. I'll write up a more complete guide, but for now check out these sites:

Faucets

Faucets are sites that give out free coins. Usually a site will give out somewhere between 1 and 100 Dogecoin. Every site has its own time limits, but usually you can only receive coins once every few hours, or in some cases, days. It's a great way to get started. All you do is copy your address from the receive section of your wallet and enter it on some faucet sites. Check out /dogecoinfaucets for more. If you go to each site on there you might end up with a couple hundred Dogecoin!

Begging

This method is pretty straightforward. Post your receiving address, and ask for some coins. Such poor shibe. The only catch is, don't do it here! Please go to /dogecoinbeg.

Tips

At the moment there are two tip bots:
Other redditors can give you Dogecoin by summoning the tip bot, something like this:
+dogetipbot 5 doge
This might happen if you make a good post, or someone just wants to give out some coins. Once you receive a tip you have to accept it in a few days or else it'll get returned. Do this by following the instructions on the message you receive in your inbox. You reply to the bot with "+accept". Commands go in the message body. Once you do that, the bot will create a tipping address for you, and you can use the links in the message you receive to see your info, withdraw coins to your dogecoin-qt wallet, see your history, and a bunch of other stuff.
As a bonus, so_doge_tip has a feature where you can get some Dogecoins to start with in exchange for how much karma you have. To do this, send the message "+redeem DOGE" to so_doge_tip. You'll need to create a tipping account if you don't have one.
If you want to create a tipping account without ever being tipped first, message either of the bots with "+register" and an address will be created for you.

CHANGELOG

  • 1/21/14 - Added note about this thread no longer being updated
  • 1/21/14 - Changed wallet links to official site
  • 12/27/13 - Added 1.3 wallet-qt links
  • 12/21/13 - Added new windows 1.2 wallet link
  • 12/20/13 - Fixed +redeem text
  • 12/18/13 - Added short blurb on trading.
  • 12/18/13 - Updated cudaminer to new version (cudaminer-2013-12-18.zip).
  • 12/18/13 - Fixed +redeem link
  • 12/18/13 - Updates dogecoin.conf, from here.
  • 12/17/13 - Linked to mining explanation.
  • 12/17/13 - Added link to CPU mining tutorial, in response to this.
  • 12/16/13 - Added links to tip commands, link to dogetipbot wiki.
  • 12/16/13 - Note about tip commands going in body, in response to this.
  • 12/16/13 - Added link to cgminer mirror, thanks to scubasteve812 and thanks to Bagrisham.
  • 12/16/13 - Note about removing brackets in response to this.
  • 12/15/13 - Fixed hash rate as per this comment, thanks lleti
  • 12/15/13 - Added info for all other ways of getting money, except for trading (placeholder for now)
  • 12/15/13 - Added windows GPU mining instructions 12/15/13 - Added wallet instructions, list of how to get money
submitted by lego-banana to dogecoin [link] [comments]

[GIVEAWAY] Para quem nunca ouviu falar de criptomoedas, ou quer experimentar uma versão mais soft das bitcoins - DOGECOINS!

EDIT: Wow tantos comentários
Olá a todos! Este tópico será para enviar dogecoins a todos aqueles que desejarem e também para testar o "bot das gorjetas" no portugal. Acho que fazermos uma pausa da conversa das praxes faz-nos bem a todos.
Mas antes, comecemos do início:
O QUE SÃO CRIPTOMOEDAS?!
As criptomoedas são um meio digital de troca, tendo começado com as Bitcoins em 2009. As informações a reter são:
Um exemplo desta volatilidade: No início de 2013 um bitcoin valia ~9.5€, e em dezembro um mesmo bitcoin já valia cerca de ~905€. Esta variação de valor pode parecer atractiva, mas também fez da comunidade uma comunidade mais séria, focada apenas no lucro e egoísmo.
É aqui que entram as Dogecoins
OK, BITCOINS SÃO FIXES, MAS O QUE SÃO DOGECOINS E O QUE TÊM DE ESPECIAL?
As Dogecoins são uma variação das Litecoins, que por sua vez são uma variação de Bitcoins. Como o código Bitcoin é open-source na teoria (e práctica) qualquer pessoa pode fazer a sua própria moeda. As Litecoins foram feitas como uma espécie de prata ao "ouro do bitcoin", e têm sido a base da maior parte de criptomoedas alternativas criadas.
As Dogecoins, criadas no início de Dezembro de 2013, começaram por ser uma forma de paródia de todas as outras criptomoedas alternativas que têm surgido (sexcoin, bbqcoin, etc), usando o meme Doge como inspiração.
Contudo, a paródia começou a tornar-se bem real, porque ao contrário de Bitcoins e Litecoins, que fomentam a acumulação das mesmas criptomoedas com o pensamento de que irão valer mais no futuro, as Dogecoins existem em muito maior quantidade, e têm sido usadas muito mais como moeda de troca do que como investimento (que é, afinal de contas, o objectivo inicial destas criptomoedas!)
As dogecoins também tornaram-se a criptomoeda de eleição para enviar gorjetas, através do reddit, twitter, imgur e até SMS.
Por último, a comunidade Dogecoin no reddit tem demonstrado ser a mais generosa, tendo doado dinheiro para a equipa da Jamaica poder ir às Olimpíadas, assim como o atleta da Índia e outras variadas doações.
E é por isso que estou aqui! Para partilhar com vocês algumas dogecoins de forma generosa!
RECEBI DOGECOINS ATRAVÉS DO BOT, O QUE FAÇO AGORA?!
Sigam as instrucções aqui. Basicamente: - Quando receberem a gorjeta (através de uma mensagem privada de confirmação), enviem uma mensagem com +accept para o bot - O bot têm andando bastante sobrecarregado por isso pode demorar algum tempo entre eu comentar e vocês receberem uma mensagem de confirmação! (Pode demorar mais de 16h :O ) - Se ainda não receberam nenhuma gorjeta mas já se querem registar com o bot, enviem uma mensagem com +register para o bot - Depois, saquem o cliente oficial dogecoin, esperem que sincronize com a rede, e cliquem em "Much Receive". Podem usar o endereço existente (uma série de números e letras) ou criar um novo. Esse será o vosso endereço público para receber dogecoins. Para enviar as dogecoins que receberam no reddit para esse endereço, enviem uma mensagem com withdraw, colocando o vosso endereço onde diz "ADDRESS".
E é tudo! O que podem fazer com dogecoins? Podem comprar produtos e serviços de forma rápida e segura! Alguns websites que listam empresas e serviços que aceitam dogecoins:
DESTE-ME BUÉ POUCAS DOGECOINS. COMO CONSIGO MAIS?
De muitas formas! Podes:
submitted by hjras to portugal [link] [comments]

Subreddit Stats: nyancoins top posts from 2014-01-22 to 2017-12-11 08:32 PDT

Period: 1419.14 days
Submissions Comments
Total 982 13857
Rate (per day) 0.69 9.75
Unique Redditors 223 1038
Combined Score 6770 19579

Top Submitters' Top Submissions

  1. 895 points, 208 submissions: coinaday
    1. Thank You: An interlude for gratitude (11 points, 19 comments)
    2. [community] You are a leader of Nyancoins / Herding Cats: Leading Leaders; Leadership in a Decentralized Community (10 points, 8 comments)
    3. Current Status / What I need to do (9 points, 4 comments)
    4. 1Ɲ >= 1Đ (8 points, 4 comments)
    5. I've got /nyancoin; anyone want to make use of it? (8 points, 13 comments)
    6. Want a NYAN faucet? Try out GetFairShare, a Crypto Universal Basic Income experiment; now with NYAN! (8 points, 3 comments)
    7. [finance] [theory] [first draft] Why NYAN is a great hodler's coin (8 points, 0 comments)
    8. [meta] [misadventures of coinaday] I quit! Okay, I'll stick out the two weeks. ...uh, sure, I'll try out management... ; also being a Good Samaritan feels great (8 points, 2 comments)
    9. I'm ready to give up on life; in which coinaday finally has his full-blown mental breakdown. So long, and thanks for all the rainbows! (7 points, 20 comments)
    10. Learn languages and earn NYAN: I strongly encourage everyone to sign up for (if you haven't already) and use Duolingo! (7 points, 16 comments)
  2. 588 points, 45 submissions: americanpegasus
    1. Fellow kitty-tats: We are making friends over at /dogemarket! They like us, and we should support them in kind! (31 points, 20 comments)
    2. Have you kats seen this!!? We just got mentioned in a Wired article above even Dogecoin! Wow! (30 points, 12 comments)
    3. GAME OF NYANCAT, Episode 4... Thousands of Nyancoins to win this weekend, for free! Choose your kingdom, choose your job, and claim your share of the treasure: Let's make this the biggest game yet! (28 points, 274 comments)
    4. We just passed CatCoin in marketcap: We are in 59th place and officially have lift off! Hold on to your poptarts - here we go! (28 points, 8 comments)
    5. I want to extend a huge thanks to Phecalfeliac who has successfully given us our very own tip bot! (nyantip) Please post in this topic so we can all tip you our thanks (with your own bot). (23 points, 80 comments)
    6. We are going to 500 subscribers this weekend: I guarantee it. Nyancoin has exploded, and I just want you to look at how far you've come in just 7 days. (23 points, 34 comments)
    7. Prepare to play... GAME OF NYANCAT. The Kingdom that wins will split a 1000 Nyancoin bounty, and all players are eligible for random tips. (22 points, 63 comments)
    8. GAME OF NYANCAT, Episode 2 (1/27/14)... Play NOW for free and win free Nyancoins! Every player will get tipped coins, and the Kingdom that wins will split up to a 1,000 NYAN treasure! Let the quest begin! (21 points, 73 comments)
    9. I took care of the vincent21212 & fake Nyancoin subreddit problem. (21 points, 14 comments)
    10. GAME OF NYANCAT, Episode 3 (1/28/14)... Play NOW for free and win free Nyancoins! Every player will get tipped coins, and the Kingdom that wins will split up to a 1,000 NYAN treasure! Let the quest begin! (20 points, 60 comments)
  3. 326 points, 40 submissions: atheistftwins
    1. BEWARE! Crycurex.com may be attempting to add NYAN! (22 points, 8 comments)
    2. Lets make Nyancoin games! Increased bounty size to 40,000 NYAN! (20 points, 59 comments)
    3. In honor of our recent success and becoming the biggest cat-themed coin on reddit, I'm hosting a giveaway and raffle! (15 points, 190 comments)
    4. Lets make a game for Nyancoin! 10,000 NYAN bounty! (14 points, 43 comments)
    5. Dev says Chris and the Nyancat team will begin heavy promotion of the coin soon! What should the community do to support this? (13 points, 4 comments)
    6. It's time for the community to revive this coin. Promotional campaign: 50,000 NYAN bounty! (12 points, 66 comments)
    7. Preparation for KGW: up to 11,000 NYAN giveaway. One person will walk away with 2500 NYAN! (To my knowledge the biggest tip that will have been given away here.) (11 points, 44 comments)
    8. We just passed difficulty of 10! Giving away 10 NYAN to anyone who posts here up to 1000 NYAN! (11 points, 229 comments)
    9. We need more marketing of the coin. (11 points, 21 comments)
    10. Flash NYAN giveaway! Will last 24 hours instead of usual 6. Meta-topic: What kind of giveaway does the community want? (10 points, 42 comments)
  4. 266 points, 33 submissions: braxx1980
    1. new exchange looking for trading pairs... voting NYAN up (19 points, 28 comments)
    2. maybe we need some nyancoin support from deadmau5 and skrillex (16 points, 5 comments)
    3. NYAN now also listed on cryptx.io (14 points, 5 comments)
    4. [idea] why not ask doge 4 water to add NYAN (13 points, 9 comments)
    5. NYANcoin... to boldly go where no NYAN has gone before CYBERSPACE (12 points, 8 comments)
    6. apologies to Joel (easyjo) for the FUD for altoutlet. He is the best. Giving Nyan a chance to his store... THANK YOU JOEL (12 points, 1 comment)
    7. GREAT NEWS: altoutlet.com is going to add us this week (11 points, 3 comments)
    8. TIME IS UP... let's find ourself a new developer (11 points, 9 comments)
    9. We hit COINMARKETCAP (@the moment place 66) (11 points, 18 comments)
    10. CALL OUT TO DEV: give us some status on the work on X11. I'll give you until 1 may. (10 points, 6 comments)
  5. 232 points, 29 submissions: Simcom
    1. More positive press!! The battle over Nyancoin: How a cat meme inspired a cryptocurrency war [TheDailyDot] (22 points, 1 comment)
    2. Nyancoin was just listed on it's first Chinese exchange! (15 points, 8 comments)
    3. How I feel when one of my NYAN tips is rejected. (14 points, 14 comments)
    4. [Giveaway - 2000 NyanCoin for tipping!] Go forth Space Kitties - to the the far reaches of Reddit!! Spread the the gospel of NyanCoin to all you encounter!! (14 points, 162 comments)
    5. Nyancoin is now listed on Cryptsy!!! (13 points, 14 comments)
    6. This was just shared with 3 Million People on Facebook!!! (11 points, 5 comments)
    7. Welcome newcomers! If you haven't done so already - stop by the 1st Official Reddit Giveaway thread for 33.7 free coins! [Repost] (11 points, 1 comment)
    8. Flight Commander Sgt. Fluffy McMeower, reporting for duty. (10 points, 6 comments)
    9. Let's Roll (10 points, 0 comments)
    10. Nyancoin added to the Cryptsy voting list!! VOTE NOW!!!!!! (10 points, 10 comments)
  6. 208 points, 13 submissions: nyancoin
    1. NYANCOIN FIRST OFFICIAL REDDIT GIVEAWAY - 33.7 nyancoins for the first 337 comments! (43 points, 744 comments)
    2. Nyancoin V 1.2 Out Now! Kimoto Gravity Well Implemented! MANDATORY UPDATE (28 points, 28 comments)
    3. Dev Updates (19 points, 14 comments)
    4. Some updates from the dev team (18 points, 22 comments)
    5. [Giveaway] 10 FREE NYANCOINS to the First 1000 Posts! (17 points, 204 comments)
    6. Dev Updates + Kimoto Gravity Well is here! (16 points, 17 comments)
    7. Check out the first Nyancoin promo video! (13 points, 26 comments)
    8. Nyan Cat Store Pre-opening Offer! (13 points, 40 comments)
    9. News and Update on Nyancoin (12 points, 31 comments)
    10. Nyancoin will be switching to X11 Algo! (11 points, 33 comments)
  7. 173 points, 35 submissions: KojoSlayer
    1. NyanCoin Miner v0.06 [Game WIP] (12 points, 19 comments)
    2. Nyancoin Pixel Art In MC (First Attempt!) (8 points, 5 comments)
    3. To Buy All The Nyan On Cryptsy 12.27904283 BTC Or 3004.19 US Dollars (8 points, 9 comments)
    4. New To Nyan & Cryptocurrency (7 points, 13 comments)
    5. Two Faucets?! One Week! This coins is dead I say! (7 points, 32 comments)
    6. [Bounty] 5,000 Nyan, 10,000 Nyan! Faucet! (7 points, 24 comments)
    7. [Hype][Update] Browser based MMORPG accepting Nyancoins. (7 points, 13 comments)
    8. Dice soft launch (6 points, 8 comments)
    9. Meow (6 points, 0 comments)
    10. Miners We Need YOU! (6 points, 20 comments)
  8. 163 points, 2 submissions: nyantip
    1. Hi, I am nyantip. I need karma to function. Upvote me and post something interesting in this thread to be tipped Nyancoin. (104 points, 170 comments)
    2. This is nyantip again. Do I need to submit a link to get karma? As usual, upvote me and post for a tip! (59 points, 99 comments)
  9. 117 points, 15 submissions: sillyputti
    1. I didn't finish this in time for the Game of Nyancat, but better late than never...Nyan Power! (15 points, 27 comments)
    2. Just mined my first 100 Nyan, testing out the tipbot. Come help me tip. (10 points, 101 comments)
    3. Made a tutorial for beginners on mining nyan. Let me know if I can make it better. Thanks. (10 points, 9 comments)
    4. Remember Nekonauts, we have some pretty cool subreddits worth checking out too. (10 points, 10 comments)
    5. Updated the old Java GUI Miner. Try it out and see how it works, may have some use when KGW hits. (10 points, 0 comments)
    6. Guys, guys! I saw nyancoin on the Crypto-Currency chart! (8 points, 10 comments)
    7. Brainstorming and tip session at /nyangaming (7 points, 0 comments)
    8. ELI5: The benefits of being "Officially Licensed" coin are? (7 points, 15 comments)
    9. Found my first block today. Sharing some nyan for new nekonauts. 100 nyan give away. (7 points, 122 comments)
    10. Link to the creating your own faucet (7 points, 5 comments)
  10. 103 points, 17 submissions: OnwardFlying
    1. I'm not into Nyancoins for the money, however... (12 points, 8 comments)
    2. FortyNyaners have a 0% fee, nice layout. I like. (10 points, 3 comments)
    3. Too much hashrate at Nyanmine. Please diversify! (9 points, 8 comments)
    4. IRC @ chat.freenode.net, #Nyancoin (8 points, 1 comment)
    5. The video that started it all! (7 points, 0 comments)
    6. AMD/esp. nVidia miners, get more kh/s from your cards. (6 points, 1 comment)
    7. Coined Up at 5-15 Satoshi again. Quick get your cheap nyan! (6 points, 4 comments)
    8. IRL Nyan Sightings Increase Dramatically - We need your proof they exist! (6 points, 1 comment)
    9. Is it about time we think about a good push for Cryptsy? (6 points, 15 comments)
    10. [Bounty] Create a Nyancoin meme, get 10 nyan per upvote! (6 points, 9 comments)
  11. 98 points, 5 submissions: kiyami
    1. I'm a graphic designer new to nyancoin/reddit and wanted to help out. Hope you like it! (39 points, 35 comments)
    2. Starry Night (25 points, 17 comments)
    3. Cats: Every single one has a God-complex. (19 points, 4 comments)
    4. BRAiN FREEZE (11 points, 10 comments)
    5. wow such ascent, many flap... my four favorite coins together 4ever. Wallpaper! (4 points, 3 comments)
  12. 97 points, 22 submissions: jwflame
    1. Map of Nyancoin Nodes (7 points, 6 comments)
    2. More market weirdness that cannot be explained (7 points, 1 comment)
    3. Cryptopia block explorer gone ? (6 points, 2 comments)
    4. Found another mining pool. (6 points, 3 comments)
    5. NYANSEED is online (6 points, 12 comments)
    6. New block explorer (6 points, 1 comment)
    7. The 3rd exchange returns (6 points, 1 comment)
    8. 'official' website has gone (5 points, 3 comments)
    9. Domains for chain and website (5 points, 8 comments)
    10. Novaexchange closing (5 points, 3 comments)
  13. 89 points, 9 submissions: valcarni
    1. Nyancoin makes SBS Australian news (18 points, 4 comments)
    2. Don't just be a casual nekonaut press subscribe and get this channel up to 500 users (16 points, 5 comments)
    3. We need a new currency exchange (15 points, 13 comments)
    4. Don't know if you all saw this but, Follow The Coin announces how Nyancoin is the first offically licensed cryptocurrency (12 points, 0 comments)
    5. Nyancoin on its way up (12 points, 7 comments)
    6. My first 7.349511 Nyan (5 points, 6 comments)
    7. My contribution to the community - Nyancoin Lotto (4 points, 4 comments)
    8. The value of Nyancoins (4 points, 7 comments)
    9. Just need one more player in Game 1 of Nyancoin Lotto (3 points, 2 comments)
  14. 75 points, 9 submissions: IntelligentComment
    1. Nyan gaining popularity (14 points, 14 comments)
    2. Announcement nyandispenser.tk/faucet has been hacked. Please do not go to that website (12 points, 12 comments)
    3. California passed law making Bitcoins & Other cryptocurrency legal money (11 points, 1 comment)
    4. Official Nyancoin youtube launch video. Millions of dollars spent for production!! (11 points, 3 comments)
    5. Mine as much as you can, the popularity wave is coming (6 points, 6 comments)
    6. Nyan Coin Mining subreddit - New (6 points, 0 comments)
    7. Official Nyancoin catch phrases vote thread! Vote and submit! (6 points, 11 comments)
    8. Post pics of your nyan coin mining rig! (5 points, 21 comments)
    9. How to pronounce Nyan (4 points, 3 comments)
  15. 72 points, 11 submissions: slasherzx
    1. How I describe nyantip bot (12 points, 3 comments)
    2. ASIC scrypt miners incoming! (8 points, 14 comments)
    3. Is our faucet dry? (8 points, 20 comments)
    4. We are back at top 100 in coinmarketcap (8 points, 14 comments)
    5. After KGw, what's next.? (7 points, 6 comments)
    6. Cuckoo cycle a new algo? (7 points, 2 comments)
    7. Lets celebrate KGW implemented! No one is stopping Nyan now! (6 points, 0 comments)
    8. KNC upped the speed from 100mhs to 250mhs.. (4 points, 4 comments)
    9. Scrypt Adaptive-N + Kimoto Gravity (4 points, 22 comments)
    10. moonishere pool owning 50+% of net hashrate (4 points, 0 comments)
  16. 68 points, 7 submissions: petert0th
    1. Shut up and take my nyancoins! (18 points, 24 comments)
    2. Faucet added to 2048nyancoinz! (14 points, 33 comments)
    3. 2048nyancoinz - 2048 game with a lot of nyanz:) (10 points, 8 comments)
    4. Nyan Dice public beta is here! Check it out and tell me what do you think about it! (8 points, 13 comments)
    5. 1000th 2048nyancoinz dispense is coming, 15 to go, 100 nyan bounty for the lucky dispenser. (6 points, 22 comments)
    6. Making 500 nyancoins to almost 4000? Congrats to the first "large multiplier" winner:) (6 points, 0 comments)
    7. NyanDice is almost here! PM me if you want to beta test it. (6 points, 4 comments)
  17. 65 points, 7 submissions: lzr1900
    1. A generous Nekonaut just donated almost 1 BTC to Cryptsy Votes,that made us be the 7th place there.Our community must do something to help our little nyancoin added on Cryptsy,we deserve that!!If 1/5 of Nekonauts(nearly 200) donate 0.01BTC each to Cryptsy will let us achieve this goal! (18 points, 22 comments)
    2. Nekonauts!We hit Coinedup!! (13 points, 14 comments)
    3. WTF!!!Freshmarket.co.in compromised!! (9 points, 10 comments)
    4. Vote Nyan for MintPal!This exchange seems really awesome. (7 points, 4 comments)
    5. 67000 blocks now! KGW working. (6 points, 0 comments)
    6. Aha.Thanks Coinedup.We have NYAN/LTC now.Happy trading:o. (6 points, 4 comments)
    7. I will start a brand new promotion in China recently,include some giveaways,games,etc in the fourms,weibo,QQgroups.Let the Chinese join NYAN!!!We will to da Sapce.Let's do it. (6 points, 10 comments)
  18. 63 points, 9 submissions: nyanstu
    1. Keep voting up NYAN on allcrypt!! http://www.allcrypt.com/beta/voting.php (15 points, 5 comments)
    2. Nekonauts for charity! (10 points, 20 comments)
    3. Let's get writing to publicize NYAN (7 points, 6 comments)
    4. Can someone hook up the price guide to coinedup? (6 points, 10 comments)
    5. Nyancoiners from all over the world... (6 points, 22 comments)
    6. Wikipedia for Nyancoin (6 points, 3 comments)
    7. Cryptsy? (5 points, 3 comments)
    8. Needed: team of brave Nekonauts! (5 points, 10 comments)
    9. Facebook page! (3 points, 9 comments)
  19. 59 points, 8 submissions: dhj0001
    1. Nyan.cat (14 points, 9 comments)
    2. It seems like we've generated some buzz for Nyancoin? (12 points, 5 comments)
    3. Progress of Kimoto Gravity Well? (10 points, 6 comments)
    4. Assistance with NYAN Faucet (6 points, 5 comments)
    5. Official NyanCoin images (5 points, 6 comments)
    6. Why is nyancoin falling? (5 points, 9 comments)
    7. New Nyancoin game up and running! Calling all sprite photoshop guru's for a nyan-themed upgrade! (4 points, 7 comments)
    8. Why do you think Nyancoin is one of the better cryptocurrency? (3 points, 3 comments)
  20. 57 points, 11 submissions: The-Bent
    1. My not quite finished Nyan display for the office (8 points, 11 comments)
    2. Added rainbow to the mining box. (7 points, 5 comments)
    3. My ghetto Nyan mining rig. (7 points, 20 comments)
    4. I got a 3D printer and made some things to help keep my Nyan mining rig cool! (6 points, 17 comments)
    5. Looks like Nyanchain is back up!! (5 points, 5 comments)
    6. So you just received your Moonlander 2, what now? (5 points, 9 comments)
    7. What mining at under 5 megahashes per second gets you. AKA: why I love Nyan! (5 points, 4 comments)
    8. mining rewards on chain.nyan.space (5 points, 5 comments)
    9. FutureBit Moonlander 2 is available. (3 points, 30 comments)
    10. how to node? (3 points, 5 comments)
  21. 52 points, 5 submissions: Rupluttaja
    1. How I feel when I'm drinking coins from a faucet (19 points, 8 comments)
    2. Gravity well should be set to be main priority. (16 points, 26 comments)
    3. And the Devs have left us in the shadows...again Please give the community some updates (7 points, 5 comments)
    4. What God-complex? Nyan is god, it has a halo. (5 points, 0 comments)
    5. What happened to the faucet? (5 points, 6 comments)
  22. 51 points, 7 submissions: slavethewhales
    1. CRYPTSY! (16 points, 2 comments)
    2. How would one go about creating a faucet? (7 points, 5 comments)
    3. Miss you guys (7 points, 7 comments)
    4. 67000 is here! (6 points, 0 comments)
    5. If you have an iPhone, request Nyancoin inclusion in the Coin Ticker app. Just go to Settings, Coin Request, then scroll down to Nyancoin and click the request button on the right. It's a really nice app and would be good exposure to get it in there. (6 points, 2 comments)
    6. A handy crypto converter, NYAN included! (5 points, 2 comments)
    7. Does anyone know how many hits per day the nyancoin faucet website gets? I'm curious about the overall interest in the coin at this point. (4 points, 2 comments)
  23. 46 points, 8 submissions: Snargosoft
    1. Nyan Coin is now 2nd on Cryptsy (10 points, 6 comments)
    2. 12 Hours Of Extra Free Nyan Coins! (8 points, 6 comments)
    3. New Nyan Coin Faucet (8 points, 14 comments)
    4. The New www.NyanCoin.Me (5 points, 10 comments)
    5. How to make a faucet (4 points, 1 comment)
    6. The Nyan Coin Faucet now dispenses Nyan Coins Automatically! (4 points, 6 comments)
    7. www.Nyancoin.Me Has Just Dispensed Their 1000th Coin! (4 points, 2 comments)
    8. Cryptsy Is Only Steps Away! While we are second, Let's Stay Second! Down With XRP (3 points, 2 comments)
  24. 46 points, 6 submissions: MAURO_italy
    1. 3RD AD CAMPAIGN!! LET'EM KNOW WE GOT IN ALTOUTLET! (9 points, 10 comments)
    2. TO THE MOON! (9 points, 9 comments)
    3. [RESURRECT] Advertising campaign! READ ME PLEASE! (9 points, 31 comments)
    4. [GROWING] 2ND AD CAMPAIGN! GET IN!! (8 points, 18 comments)
    5. Have an Happy St. Patrick's Day, Nekonauts! (6 points, 19 comments)
    6. [SUGGESTION] NYAN COINS MOBILE APP (5 points, 4 comments)
  25. 45 points, 7 submissions: jeredye
    1. FortyNyaners.com - New Mining Pool! - 0% FEES + Giaveaway! (10 points, 56 comments)
    2. Fortynyaners.com Pool Fee Increase (8 points, 9 comments)
    3. How to Create Nyancoin Vanity Addresses [Guide] (7 points, 20 comments)
    4. Upgraded Design - FortyNyaners.com - 0% Fee Pool (7 points, 12 comments)
    5. Fortynyaners.com GIVEAWAY #2! 0% Fee Pool - We need more miners! (6 points, 37 comments)
    6. Fortynyaners.com BLOCK FINDER BONUS ENABLED. 10 NYAN bonus per block! (4 points, 9 comments)
    7. FortyNyaners.com - 0% Fee Pool - SITE REDESIGN (3 points, 3 comments)
  26. 45 points, 5 submissions: Codge1
    1. A massive thank you to hu3m4n for your hard work! (13 points, 16 comments)
    2. The package came in today! Great way to start the weekend! (13 points, 3 comments)
    3. Ads running today!? (7 points, 2 comments)
    4. NYAN DICE GAME http://nyan.greendice.cc/ (6 points, 3 comments)
    5. Post here to get us listed on coinmarket.io and get 5 nyan!!! (6 points, 26 comments)
  27. 45 points, 3 submissions: kuoushi
    1. What it looks like drinking from the nyancoin faucet (27 points, 26 comments)
    2. I think I went farther than expected on 2048nyancoinz (11 points, 4 comments)
    3. Just a heads up, I think the nyandispenser.tk faucet was compromised. (7 points, 6 comments)
  28. 44 points, 9 submissions: peanut83
    1. Lets pump up the faucet I just added 20,000 nyan (8 points, 2 comments)
    2. After PoS (7 points, 1 comment)
    3. Stump the Geek (6 points, 4 comments)
    4. Nyancoin supply is almost 90m (5 points, 2 comments)
    5. why has hashrate jumped to 380.61 MH/s ? (5 points, 2 comments)
    6. would this be good for nyan? (4 points, 2 comments)
    7. Ex cryptsy user. I would buy this coin but I don't fancy using cryptopia (3 points, 7 comments)
    8. Nyancoin dirt cheap on cryptsy. (3 points, 4 comments)
    9. dead fb page can we remove? (3 points, 11 comments)
  29. 43 points, 4 submissions: The_Somnambulist
    1. Thank you, americanpegasus for Game of Nyan and all your hard work. (22 points, 12 comments)
    2. Nyancoin wallpaper 2560x1600 (11 points, 9 comments)
    3. Nyancoin giveaway! (6 points, 55 comments)
    4. Nyancoin for science (4 points, 10 comments)
  30. 43 points, 4 submissions: xpliset
    1. Help us get on cryptsy and get 20 free NYAN (17 points, 177 comments)
    2. Help NyanCoin get on another exchange and receive 50 NYAN! (13 points, 131 comments)
    3. www.nyanmine.com running its second promotion (8 points, 6 comments)
    4. Vote for nyancoin on coinpayments (5 points, 5 comments)
  31. 42 points, 7 submissions: snarklasers
    1. Yes, tipnyan is down ATM. (14 points, 7 comments)
    2. Tipping Tuesday; time for original Nyan memes. (7 points, 5 comments)
    3. Recap of what happened last week. :) (6 points, 10 comments)
    4. Network stuck again. Any ideas? (5 points, 37 comments)
    5. Nyancat is now broken. (4 points, 9 comments)
    6. ( ͡° ͜ʖ ͡°) (3 points, 8 comments)
    7. Caturday Contest: Nyan Cat Auditions (3 points, 10 comments)
  32. 39 points, 4 submissions: abyssea
    1. This is how I feel with my NyanCoins :( (18 points, 1 comment)
    2. Just ordered a mining rig and a little nervous! (9 points, 25 comments)
    3. New Miner Setup and Ready! (7 points, 9 comments)
    4. Is something wrong with the Nyancoin Calculator? (5 points, 7 comments)
  33. 39 points, 3 submissions: procrypt
    1. NYAN > USD/GBP/EUBTC/DOGE spreadsheet (21 points, 28 comments)
    2. How I felt when I saw the estimated next difficulty (13 points, 16 comments)
    3. Nyan Tipping etiquette (5 points, 3 comments)
  34. 38 points, 5 submissions: brennancellis
    1. We did it! (10 points, 13 comments)
    2. Here's some nyancoin wallpapers!!! (9 points, 3 comments)
    3. Contest for Nyancoin! (7 points, 10 comments)
    4. Doge did it, so should we! (7 points, 9 comments)
    5. Check out the wiki and see what it needs! (5 points, 4 comments)

Top Commenters

  1. nyantip (2350 points, 1872 comments)
  2. coinaday (1630 points, 1210 comments)
  3. atheistftwins (761 points, 562 comments)
  4. KojoSlayer (668 points, 363 comments)
  5. americanpegasus (560 points, 318 comments)
  6. Simcom (555 points, 374 comments)
  7. tipnyan (409 points, 293 comments)
  8. Phecalfeliac (364 points, 249 comments)
  9. braxx1980 (304 points, 222 comments)
  10. vmp32k (292 points, 159 comments)
  11. sillyputti (281 points, 225 comments)
  12. nyancoin (263 points, 208 comments)
  13. Codge1 (242 points, 149 comments)
  14. shibeseller (232 points, 147 comments)
  15. jwflame (230 points, 115 comments)
  16. OnwardFlying (206 points, 168 comments)
  17. The_Somnambulist (205 points, 155 comments)
  18. xpliset (200 points, 162 comments)
  19. Jybrael (195 points, 121 comments)
  20. The-Bent (189 points, 97 comments)
  21. spydud22 (184 points, 96 comments)
  22. Lufah (171 points, 98 comments)
  23. shinohai_ (166 points, 86 comments)
  24. slasherzx (162 points, 101 comments)
  25. jwinterm (152 points, 89 comments)
  26. snarklasers (148 points, 64 comments)
  27. dhj0001 (133 points, 88 comments)
  28. IntelligentComment (129 points, 93 comments)
  29. Rupluttaja (128 points, 77 comments)
  30. jeredye (122 points, 88 comments)
  31. bendover340 (103 points, 57 comments)
  32. ginger_beer_m (101 points, 72 comments)
  33. UrsaMajorisAlpha (100 points, 73 comments)
  34. EdenSB (95 points, 73 comments)
  35. Exohain (95 points, 59 comments)
  36. valcarni (90 points, 63 comments)
  37. nyanstu (83 points, 65 comments)
  38. procrypt (79 points, 60 comments)
  39. lzr1900 (72 points, 51 comments)
  40. CartmanSPC (71 points, 35 comments)
  41. feyerbrand (70 points, 63 comments)
  42. Snargosoft (69 points, 54 comments)
  43. Larry1123 (66 points, 53 comments)
  44. Dogexecutive (59 points, 32 comments)
  45. MAURO_italy (58 points, 50 comments)
  46. ProHashing (57 points, 24 comments)
  47. kahbn (55 points, 42 comments)
  48. petert0th (53 points, 47 comments)
  49. bl4ckw00d (51 points, 37 comments)
  50. Palladi (51 points, 35 comments)
  51. thorygg (51 points, 35 comments)
  52. RunNyanRun (50 points, 21 comments)
  53. JiveTonto (49 points, 22 comments)
  54. bonoboner (48 points, 30 comments)
  55. FwuffyKittens (46 points, 36 comments)
  56. EricPach (46 points, 34 comments)
  57. SyntheticDarkness (46 points, 34 comments)
  58. iMadeATpyo (46 points, 21 comments)
  59. dbcmaster (45 points, 37 comments)
  60. peanut83 (45 points, 32 comments)
  61. Emm_mm3 (44 points, 35 comments)
  62. scirocco (44 points, 30 comments)
  63. JamesArbuthnotPooley (43 points, 28 comments)
  64. catathon (42 points, 28 comments)

Top Submissions

  1. Hi, I am nyantip. I need karma to function. Upvote me and post something interesting in this thread to be tipped Nyancoin. by nyantip (104 points, 170 comments)
  2. This is nyantip again. Do I need to submit a link to get karma? As usual, upvote me and post for a tip! by nyantip (59 points, 99 comments)
  3. NYANCOIN FIRST OFFICIAL REDDIT GIVEAWAY - 33.7 nyancoins for the first 337 comments! by nyancoin (43 points, 744 comments)
  4. I'm a graphic designer new to nyancoin/reddit and wanted to help out. Hope you like it! by kiyami (39 points, 35 comments)
  5. Hello fellow space-cats! I am the nyantipbot. I'm nothing more than a dream at this point, but you can help make me real! Details inside... by nyantipbot (37 points, 38 comments)
  6. Fellow kitty-tats: We are making friends over at /dogemarket! They like us, and we should support them in kind! by americanpegasus (31 points, 20 comments)
  7. Have you kats seen this!!? We just got mentioned in a Wired article above even Dogecoin! Wow! by americanpegasus (30 points, 12 comments)
  8. GAME OF NYANCAT, Episode 4... Thousands of Nyancoins to win this weekend, for free! Choose your kingdom, choose your job, and claim your share of the treasure: Let's make this the biggest game yet! by americanpegasus (28 points, 274 comments)
  9. Nyancoin V 1.2 Out Now! Kimoto Gravity Well Implemented! MANDATORY UPDATE by nyancoin (28 points, 28 comments)
  10. We just passed CatCoin in marketcap: We are in 59th place and officially have lift off! Hold on to your poptarts - here we go! by americanpegasus (28 points, 8 comments)

Top Comments

  1. 14 points: nyantip's comment in Hi, I am nyantip. I need karma to function. Upvote me and post something interesting in this thread to be tipped Nyancoin.
  2. 14 points: nyantip's comment in This is nyantip again. Do I need to submit a link to get karma? As usual, upvote me and post for a tip!
  3. 13 points: nyantip's comment in This is nyantip again. Do I need to submit a link to get karma? As usual, upvote me and post for a tip!
  4. 13 points: nyantip's comment in This is nyantip again. Do I need to submit a link to get karma? As usual, upvote me and post for a tip!
  5. 12 points: nyantip's comment in This is nyantip again. Do I need to submit a link to get karma? As usual, upvote me and post for a tip!
  6. 11 points: americanpegasus's comment in I took care of the vincent21212 & fake Nyancoin subreddit problem.
  7. 11 points: nyantip's comment in Hi, I am nyantip. I need karma to function. Upvote me and post something interesting in this thread to be tipped Nyancoin.
  8. 11 points: nyantip's comment in This is nyantip again. Do I need to submit a link to get karma? As usual, upvote me and post for a tip!
  9. 10 points: atheistftwins's comment in Nyancoin dipping. Shall we check-in about planned promotion and community adoption?
  10. 10 points: nyantip's comment in This is nyantip again. Do I need to submit a link to get karma? As usual, upvote me and post for a tip!
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