SVIATOSLAV GUSEV

2022-09-18 13:31:09 PoS, PoW and other consensus algorithms | Part II

Let's continue to learn different algorithms and you can read the first part here: https://t.me/GusevLife/144

PoC (Proof of Capacity) — the principle works like PoW, but instead of competing for more processing power, participants compete for more memory. Whoever has the highest capacity has a higher probability for block validation.

Examples of PoC are SpaceMint, Chia, Burstcoin.

DPoS (Delegated Proof of Stake) — users block their coins and vote for validators on the blockchain. Those who vote get blockchain coins, and validators who get more votes are often chosen to validate transactions.

Examples of DPoS are Tezos, Tron, Cardano.

dBFT (Delegated Byzantine Fault Tolerance) — participants accept consensus if certain conditions are met. For example, as long as "bad" nodes are less than 1/3 — consensus can be reached.

An example of dBFT is NEO.

Which consensus algorithm do you think is best? Открыть/Комментировать

2022-09-17 15:00:12 PoS, PoW and other consensus algorithms | Part I

Blockchains work by consensus to be able to change or add new information to the blockchain.

But everyone's methods are different, today I want to tell you about their types and differences, let's go.

PoW (Proof of Work) is the best known algorithm. Miners solve complex mathematical problems that require high computing power (hence the expensive video cards).

Errors and recalculations occur when solving, but the one who manages to get the solution right first is rewarded in blockchain cryptocurrency.

Examples of PoW are Bitcoin, Monero, Ethereum (not anymore).

PoS (Proof of Stake) — user is required to bet and hold or block coins and confirm his ownership. Blocks are verified according to the "stake" of those who participate in them.

People who own more coins confirm more blocks and receive a larger reward.

Examples of PoS are TON, Binance Smart Chain, Ethereum (now yes). Открыть/Комментировать

2022-09-16 13:13:51 Nancy Pelosi will fly to Armenia to support the government

There was already a post about Pelosi's legendary flight to Taiwan that got the markets worried, read it here: https://t.me/GusevLife/94

Now she is going to fly to Armenia and express support for the authorities. A reminder that relations between Armenia and Azerbaijan are extremely turbulent at the moment.

Firstly, I wonder how Azerbaijan will react, and secondly, whether there will be a "swing" in the market again.

My opinion: it will be calmer than its last flight, but still look at the market rates of assets, it will not be worse Открыть/Комментировать

2022-09-15 15:20:12 Inflation, the market and how to short TON?

Recently there were data on inflation in the U.S., to which immediately reacted markets fall: falling S&P500 index ⟶ falling crypto, the classic.

If we speak about TON, it is holding quite well, now the rate is a little bit lower to $1.75, and it is fluctuating in the area of ~$1.8.

By the way, there appeared an opportunity to earn on TON fall — Bit.com crypto exchange added termless swaps with TON, so you can take a leverage and start shorting Pavel Durov's brainchild.

The main thing is that you won't be swept away by a liquidation wave when TON starts to grow =) Открыть/Комментировать

2022-09-14 19:00:00 Waiting for TON Proxy and TON Sites

The third quarter of 2022 is coming to an end in a couple of weeks, which means that soon the TON Foundation should release the long-awaited parts of WEB 3 — TON Proxy and TON Sites.

Let me remind you: through TON Proxy you will have access to the Internet, where you will not be blocked or other restrictions, and TON Sites will allow you to create and use the same sites as now, but with a twist — they will be decentralized ;)

By the way, who already has a domain of the type ".ton" — your time will come soon, not much left.

A global update in the whole ecosystem may well push the TON rate, so keep your hand on the pulse Открыть/Комментировать

2022-09-14 14:42:55 Digest of recent TON events

— TON Hold will add a browser extension:
Wallet is in the final stages of adding a browser extension. The team is running final tests and optimization, and the extension will be available on mainnet very soon;

— Certik is testing the security of TON:
A scanner that monitors the security of the network and analyzes smart contract data is now underway to test the blockchain. After completion, experts from Certik will work with the TON team to fix possible bugs; the process is 85% complete;

— TON Contests has announced a contest for QA engineers:
If you're a quality engineer or software tester, look out for the contest. There's a $50,000 prize pool, and there's also a chance of getting a job at the TON Foundation. Register via @toncontests_bot;

— A library about TON has been created — Tonspace;
Tonspace was created as part of the TON Footsteps program and carries systematized data about blockchain. The service runs a constant process of updating documents, and it is easy to find the necessary information;

— TON will be present on Token2049:
In Singapore, TON will soon participate as a sponsor and organizer of 2 events: the first one is with FBG Capital; the second one is networking with Bit.com;

You can notice that TON is becoming more and more popular and the news related to it is getting bigger and bigger, but I'm sure that this is not the limit ;) Открыть/Комментировать

2022-09-10 16:00:21 TON's recent successes

Over the past month, TON has done nothing but make holders happy. Having managed to go down to $0.8, it also managed to bounce back to the $2 mark, which can't help but attract attention. Remember the auctions of domain names — the volume of TON immediately went up and broke the $1 barrier.

Next, Pavel Durov's announcement that Telegram will have its own marketplace on TON, as a result — TON jumped to $1.5.

More recently, Huobi Global, the largest crypto exchange, crammed TON and immediately announced three TON rewards events — Candy Drop, Huobi Earn and the TON traders contest.

Increasing volume in the market TON reached a price of $2, but corrected at $1.93 (at the time of publication).

TON still has plenty of surprises for us and they are methodically presenting them. How much more do you think TON can rise to? Открыть/Комментировать

2022-09-09 22:30:43 Most cryptocurrencies are garbage

JPMorgan said that most of the crypto-assets on the market are worthless.

The head of JPMorgan's blockchain division said that almost all cryptocurrencies are still garbage except for a few dozen tokens. All the rest will either disappear soon or just noise and nothing more.

The funny thing is that he is right. These days a lot of cryptocurrencies are made to cash in on enthusiasts: no one has cancelled the scam.

But that doesn't mean there are no useful projects! TON by Durov brothers is not a "trash" cryptocurrency, but you already know that.

I just want to add that you better analyze carefully projects you invest in: look at the site, the team, social networks, developers' experience, the purpose of the project — then your chances of avoiding "shitcoins" will increase many times.

Have a good weekend, have fun Открыть/Комментировать

2022-09-09 20:45:57 Frontrunning | Work mechanics and what does TON have to do with it

Let's look at an example of how frontrunning can work on DEX:

Trader-A sends a transaction to the blockchain ⟶ Trader-B sees it (which is an automated bot) and outbids the commission price (for example, gas on Ethereum) ⟶ Trader-B's transaction is executed earlier, and Trader-A receives the wrong price ⟶ Trader-B takes the difference in price.

It is worth noting that the blockchain TON looks advantageous in this situation, because frontrunning is impossible on it, because of the FIFO principle — «first in, first out».

This is another incentive to use DEX on The Open Network, because the problem of frontrunning is acute to this day everywhere except TON. Открыть/Комментировать

2022-09-09 18:30:59 Frontrunning | What it is and what it's for

Frontrunning is a variation of insider trading, which is applicable to both crypto exchanges and stock exchanges, but as old as the world.

Let's say you are a broker, you know that a client intends to make a large purchase, which will immediately increase the value of the asset.

You buy a part of the asset before the purchase, and afterwards you resell it at a higher price

On DEX it may work even easier, because all information about transactions is transparent and publicly available, and therefore the need for insiders is lower.

Frontrunning is one of the key difficulties of cryptocurrency trading services, which can "frontrun" users themselves. Crypto exchanges try to counteract this by using certain mechanisms. Открыть/Комментировать