A Greater Giving Potential: Introducing Micro-Donations in Bytecoin

In 2013, following a period of reflection and visioning, I imagined the possibility of completely altering the financial system as we know it. This vision, known as ABIS, will now see its first-ever implementation.

The implementation is now being issued in BCN's GUI Wallet with the release of v. 1.0.8, where the transaction has been re-envisioned to allow the user new ways to explore the possibilities of transactions and realize greater giving potential, initially through two use cases involving unique forms of donations...

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Blockchain Startups and Projects, Part 2: From Universal Identification to Smart Contracts

This blog post continues blockchain projects topic that we've discussed in our previous article. Last time we've talked about how blockchain influenced cloud storage, communications, DNS and other services. Today we continue presenting projects that successfully utilize blockchain technology.

Universal identification: nameid.org, shocard, aliases

It would be logically to develop the idea of Namecoin for registering not only domains but also any names. Actually, this function is already available in Namecoin itself. While domains are registered with prefix "d/", or, in more technical words, "in namespace d/", there also exists a prefix "id/" for registering private names and associated data. Therefore, it is not a problem to input your data in the blockchain. The problem is what to do next.

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Blockchain Technology Beyond Bitcoin: Startups and Projects Worth Following. Part 1

How would we remember Bitcoin? No, it is not a start of an obituary, and no one buries anyone! What I am asking is, what the specialness of Bitcoin technology is, what novelties it has? We have seen e-cash before it (DigiCash by David Chaum), used proof of work in the real life, and digital signatures can actually be considered as classics. Trustless P2P networks? Not a novelty, yet a warmer guess.

Some might say that a combination of abovementioned is the winning hand, but I would like to emphasize a single feature. Blockchain. Had the first blockchain-based application been not Bitcoin and its coins, but a BitZombie (a service for coordinating survivors in case of a Zombie-apocalypse), then it would be called the innovation that changed the world...

blockchain technology

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Continuous Integration Process: A Way Towards Automated Software Testing

In our previous article, 'Bytecoin Software Testing Process' we've highlighted the variety of tests that Bytecoin team is performing on a daily basis. Unit, integration, functional tests are all a part of Bytecoin testing process. Constantly running these tests ensures that anything new that was implemented in code is working properly and that no regression has occurred.

automated software testing

As one could imagine, running lots of tests on a daily basis manually is a very time consuming task. Also, we are all humans, everyone grow tired of doing repetitive work and some of it might be lost along the way. That is why Continuous Integration practice has been introduced to Bytecoin development process.

Continuous Integration approach utilizes build servers that run tests after every commit or periodically. Every developer on the team commits code to the shared repository a few times a day. Then, automated software builds each commit and runs a number of tests on it. This practice allows Bytecoin team to find issues early on development stage.

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Aggregate Addresses in CryptoNote: Towards Efficient Privacy (Whitepaper)

Aggregate addresses (or multi-addresses) is the new scheme for efficient bulk processing of CryptoNote transactions. It was introduced in Bytecoin 1.0.6 to improve experience of e-commerce services that accept Bytecoin and other CryptoNote currencies.

Today Bytecoin Team has released the whitepaper that defines the aggregate addresses scheme: Aggregate Addresses in CryptoNote: Towards Efficient Privacy". It is available in the new section of the website devoted to Bytecoin and CryptoNote technical documentation...

Aggregate addresses in CryptoNote

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Alternatives for Proof of Work, Part 2: Proof of Activity, Proof of Burn, Proof of Capacity, and Byzantine Generals

This is a guest post by Ray Patterson.

This blog post continues the series of articles on how various cryptocurrencies work. In the previous part we've given the overview on how Proof of Stake is different from Proof of Work and what issues its design causes. To learn more about how various Proof of Work algorithms work, check out "History of Proof of Work" post.

Proof of Work vs Proof of Stake: what else?

Proof of Stake vs Proof of Work

To sum up the arguments of the previous post, the energy efficiency of Proof of Stake is a double-edged sword. On the one hand, the energy is not spent, on the other, the decentralized consensus model seems unstable without these expenses...

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Alternatives for Proof of Work, Part 1: Proof Of Stake

This is a guest post by Ray Patterson.

This is another article from the series of publications on how various cryptocurrencies work. By popular requests this post is devoted to Proof of Work, Proof of Stake, and some other proof-of-something comparison. Make sure to check our previous article, "The Proof-of-Work in Cryptocurrencies: Brief History".

Proof of Work vs Proof of Stake

Proof of Work criticism

As we remember, the Proof of Work was born in the long past 1993, in the cryptographers' family; parents intended it to become the defender from DoS attacks and spam. However, it received an offer it could not refuse by some anonymous with Japanese accent: to become a basis for distributed timestamp server. The scheme seemed simple: network nodes "vote" for their version of transaction history by introducing their computational powers into calculating "rare" hashes. The version that gets the majority of votes is accepted by all nodes as the reference version...

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