Geek magazine hacker daily blog

"Proof of Stake": as I learned to love weak subjectivity

2 years, 9 months ago
About PoW-mayninge the set of articles in which discussed all nuances is written, but PoS which appeared in 2011 still remains a riddle for many. Now there is a certain tendency mixing two of these methods that they compensated each other shortcomings. But in Russian about it it is obviously not enough materials therefore we in Hashflare decided to make this transfer.

The problem of "proof of stake" ("confirmation of a share") still causes the most furious disputes in the world of cryptocurrencies. In spite of the fact that this idea has a set of undoubted benefits, including efficiency, a bigger stock of safety and capability to resist to the centralization problems connected with the hardware, algorithms of "proof of stake" it is more difficult, than alternative methods based on "the proof of work" (proof of work"). Scepticism is caused also by operability of "proof of stake", in particular, so far as concerns such global, in general opinion, a problem as "nothing at stake" ("in a share there is nothing"). Nevertheless, as it appeared, problems are not hopeless at all, and it is possible even to prove successful application of promising algorithm of "proof of stake", at the same time its cost value will be moderate. This article is urged to offer accurate explanations concerning cost and to methods of its minimization.


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The sentence of drugs on Internet sale even grew after closing of Silk Road

2 years, 9 months ago
By results of the research Digital Citizen's Alliance, closing of the black market Silk Road only for a while slowed down growth of sales of drugs in a network. When U.S. authorities closed Silk Road in October, 2013 and confiscated all assets of the project, many believed that the online market of drugs will not recover after this crushing blow. At that time the share of Silk Road made 70% of a total turnover, providing to users access practically to any kinds of illegal goods, including drugs, the weapon and counterfeit documents.


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Round the world, paying off only with bitcoins

2 years, 9 months ago
Since January of the current year the 28-year-old programmer-freelancer Felix Weis from Luxembourg travels round the world, paying off everywhere only with bitcoins, and he already got used that look at it, how on the madman when business reaches payment of accounts.


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Greece will set 1000 bitcoin ATMs

2 years, 9 months ago
1000 bitcoin ATMs it will be set in Greece in October of the current year, according to provisions of the agreement between the electronic exchange BTCGreece and provider of the cryptocurrency services Cubits.


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Experts advise to buy cryptocurrency against a collapse of the Chinese exchange

2 years, 10 months ago
After considerable fall of quotations, against a powerful collapse in the stock market of continental China which echo already, by the way, once again collapsed ruble some noticeable representatives bitcoin community stated the forecasts and recommendations.


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Escape from New York: bitcoin startups leave the city

2 years, 10 months ago
On August 8, 2015 the government of New York announced entry into force of the resolution on bitlitsenziya which essence that sale of cryptocurrencies in the territory of New York threatens with prosecution to the one who is not a happy owner of special permission of the superintendant (the head of the department of financial services).


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Why we lease capacities for production of bitcoins

2 years, 11 months ago
Hi, Geek! In comments to our first post asked us this logical question. That to answer it, it is necessary to understand what in principle there are mining options.


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Mining of bitcoins on the 55-year-old veteran of IBM 1401

3 years ago
Having inspired by the publication of a habrapolzovatel Maynim Bitcoin by means of paper and the handle", we decided that giktaym it will be interesting to readers what else mad ideas the author of an original post managed to implement — to Ken Shirriff.

Whether it is possible by means of the mainframe of IBM a sort from the 60th years of the last century to maynit bitcoins? I decided to check this, at first sight, mad idea. I implemented Bitcoin hash algorithm in assembler code for IBM 1401 and checked in practice, having started it on operable model of this ancient mainframe.


Punched card by means of which SHA-256 hashes on the IBM 1401 mainframe were calculated. Behind a punched card the printout on the printer showing input of algorithm and a final hash is visible

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As production of bitcoins changed: from CPU to a cloudy mining

3 years ago
Hi, Geek! The first post in our blog we would like to devote stories of emergence and development of the most known and popular cryptocurrency, and also to answer once again the question "What Is Bitcoins".



We hope, you will find this small digression to history useful since we tried to describe events most simply.

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