In 1.0.6 release we've updated our e-commerce solution, Bytecoin RPC Wallet, and introduced a new feature called aggregate multi-addresses. In short, this feature provides services with a possibility to create a branch of addresses to easily differentiate users.
Aggregate multi-addresses is the solution that enhances privacy of Bytecoin financial system, yet providing a significantly improved experience for e-commerce. It facilitates web wallets operation, upgrades Bytecoin integration and deposits and reduces server resources required for maintaining dozens of users' keys...
We continue to introduce you to Bytecoin development process. In our previous article, "Our Approach to Cryptocurrency Development", we covered the task management and development methodologies that we utilize. Today's article provides an in-depth overview of our testing process.
To recap, we rely on a mix of test-driven development (TDD) and extreme programming (XP). The main idea of XP is to create code in small batches. It allows thinking lean and efficient while avoiding excessively complicated solutions and over-design. For Bytecoin team this approach is aligned with the Test First paradigm. It implies that before producing a line of code, we create a test for it.
This is a guest post by Ray Patterson
Read the first part here.
Crossmating: The Altcoin Boom
By the mid-summer of the year 2013, more than a hundred altcoins were up and running, with almost half of them appeared in the latest couple of months. Should we mention that all those 'newbies' were LItecoin forks and utilized scrypt? Another trend of the season was an upstart Proof-of-Stake from PPcoin, so scrypt+PoS combo could be called 'standard alt-coin-beginner package'.
Such (quantitative) popularity of scrypt and exponential growth of Bitcoin complexity led to a simple thought: scrypt-ASICs will appear as soon as they are profitable. Despite the fact that giant November bubble (when Bitcoin was rated up to $1200) was far from beginning to balloon, the search for the new PoW function started again...
In Bytecoin 1.0.5 release we have introduced network-wide real-time transaction synchronization that allows every Bytecoin node to have the same unconfirmed transactions list (transaction pool). Any node will instantly synchronize with all nodes it is connected to, i.e. it will receive their transaction pools upon connection. This is yet another step towards building a user-friendly, broad ecosystem for Bytecoin.
To clear any confusion - we've planned to release network-wide real-time transaction synchronization in version 1.0.6 but rescheduled it for an earlier date. You can find out more about changes in the roadmap on the Bytecoin Roadmap page.
In the previous post I wrote about general direction of business development in the 21st century, and touched the subject of tools it would require. I am going to elaborate on the case from that post and tell you how can production and delivery of the 'customized' flakes be organized.
Let us have a look at the principal scheme of custom flakes business based on smart contracts. In the simplest case there are three actors entering contractual relations.
This is a guest post by Ray Patterson
Before Bitcoin: Hashcash & Moderately Hard, Memory-bound Functions
The Proof-of-work concept appeared for the first time in the paper "Pricing via Processing or Combatting Junk Mail" in 1993. Despite the fact that authors never used this notion in the article itself (it is 6 years before it appears), we are going to name it this way (or PoW).
So, what was the Idea proposed by Cynthia Dwork and Moni Naor in their paper?..
This Saturday, on the 4th of July, two important events happen for the Bytecoin Team. Despite the fact that not all Bytecoin team members are U.S. citizens, we will give proper respect to this country and the day this country became Independent. Another important event is that Bytecoin will be 3 years old.
We wanted to summarize the three-year-long development of Bytecoin, but summarizing is 20th centuryish. Our product belongs to the 21st, so we are going to look forward, and instead of talking about the past we will talk about the future.
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