Bitcoin Sharded ($BTCSH)

sgtn — Wed, 27 Jun 2018 13:15:05 +0000

With biggest respect for Bitcoin, BitcoinCash, Zilliqa, and Thunderella.

TL;DR

Zilliqa is sharding + smart contract + GPU PoW for shard determination
All permissionless blockchains are spatrated into three properties: Type of Sybil Attack Mitigation Cost + Data Structure for History Consensus + Scalability Trade-off
$BTCSH is just a clone of Zilliqa because...
- Replace hash algorithm with DIY hash algorithm and DIY ASIC
- Turn off Gas module, and mitigate DoS by your own construction
- Less eager to Smart Contract ecosystem

Spec

Type: PoW-permissionless pBFT(sharding, 33%halting, 66%reverting)
Purpose: Store of Value, General Merchandising, Censorship-resist, and no 2nd layer
PoW algo: Original dedicated FPGA ASIC (All miners must buy it)
Blocktime,size: Same as Zilliqa
Finite Coin Supply (21000000)
Immutable (no revert by community)
No ICO in order to be commodity
Smart Contract: Finite State Machine only, Formal Verifiable, Account Model, and Script based(is it possible?)
Remove Gas from Zilliqa

Insight

SoV, but seamless transaction experience
Useful but have network layer censorship-resistance
No big block: Nonce-added chunked final block propagation
No adversarial shortsell: Smart Contract abandoned design
Linear scalability
BTC flavored incentive to utilize on shop (SoV viral)
Maybe Stronger than usual PoW's selfish mining (No pool needed coz PoW is less frequent) ... Need clarification
Shard robustness: 33%halting, but 66%reverting. Chain halting condition is BTC equal, Chain crashing condition is almost impossible ... need clarification

Upside

This coin is Pure commodity, not a security like ICO-ed Store of Value
No Gas for Tx
No channel opening: Seamless experience and good for referal like BCH
No trolling from bigger, same hash-algo chain like Monacoin (20++ height reorg 51% attack there was)
Censorship-resistance is provided not like BCH the Big Block
No Short sell and 51% Attack like commodity machine PoW Smart Contract chain

Downside

BTC, BCH has security/channel network effect
Way bit complicated
Protocol is not formally verified
Reorg is complicated as per Zilliqa
DoS mitigation for no Gas custom needed
Is the FinalBlock(TxBlock) getting to be giga block?

non-Gas DoS mitigation

Lastly

You might say "Nah, Bitcoin has strong network effect".
The value of this protocol is innately it is "commodity".
- Is the Litecoin no value? Not.
Commodity doesn't promise anything thus it is security.
Gold and Silver there are. Each of them have different beauty and usage. Commodity discovery engineering is not "winner takes all". Just share the new natural resources/asset-class with others.

Read some solidity articles for great good

sgtn — Fri, 20 Apr 2018 15:29:57 +0000

I'm quite lazy person so skip to put link. (Maybe update later)

So, I'm now in KL airport and I need to wait some hours so that decided to write some log for learning in these days.

I'm now deep diving to Plasma implementation which is ethereum scaling solution, and for that we must know how ethereum working.

First in first, ethereumbook(GitHub) is good for overview. This repo is called "Mastering Ethereum", Andreas and Gavin are mainly editting. Especially I like transaction section coz it could solve my long term question "How the EVM bytecodes are executed on each node, and why contract must be deterministic."

Next, consensys security recommendation is Bible for me. Solidity has a bunch of implicit ditch which is comes from performance, scalability, resource efficiency, determinism and pure security hole. To remember it all like atoz style is a little bit troublesome for newbie, right? Then you just need to read this recommendation when you wanna make sure your implementation. Maybe consensys's contact auditors are also reading this every time (just my rough assumption)

Then, now it's time to read Plasma whitepaper, Casper FFG whitepaper and ethresear.ch. Some of papers and articles are already obsoleted though, you may be able to learn the essence of cryptoeconomic design.

Everyone is just a newbie involve me. Don't hesitate and just dive to Solidity programing :)

DEV Community: sgtn