POWER CONSUMPTION PERCEPTION POW CONSENSUS MECHANISM FOR BLOCK CHAIN (patentscope.wipo.int)

A power consumption perception PoW consensus mechanism for a block chain, comprising the following process steps: (1) in a Bitcoin system, all nodes compete with each other on the basis of respective computer computing power to jointly solve an SHA math problem that is complex to solve but easy to verify, and a node which solves the problem at the fastest speed obtains a block accounting right and Bitcoin award automatically generated by the system; (2) interconnecting physical servers…

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Setting Bitcoin’s Price Mechanism: CME Group to Launch BTC Futures (bitcoinmagazine.com)

On the anniversary of the publication of Satoshi Nakamoto’s Bitcoin white paper, the price of Bitcoin reached a new all-time high, following the news that CME Group, one of the world’s largest derivatives exchanges, will launch a Bitcoin futures product on November 14, 2017.Futures or derivatives in general are understood by their relationship to risk. They are investment products that can be bought and sold in the future based on being pinned to a…

Bitcoin

Proof-of-DDoS: A ‘Malicious’ New Consensus Mechanism (news.bitcoin.com)

A University of Colorado assistant professor and a Ph.D. student from the University of Michigan have formulated a new Altcoin that has an unusual consensus mechanism. The theoretical cryptocurrency, dubbed “DDoSCoin,” pays attackers for participating in distributed denial of service (DDoS) attacks.
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CSV Soft Fork has activated as of block 419328! Beginning with this block, checksequenceverify (BIPs 68, 112, 113) will be enforced. Blocks from miners who disregard the update will be rejected by the network. This is the first soft fork to use BIP9’s update mechanism! THIS IS GENTLEMEN!

submitted by /u/Cryptolution
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Adam Back’s clever mechanism to prevent miners from censoring transactions.

In addition to the above discussions, I was wowed by many of the clever ways that Adam had in mind for making bitcoin more scalable, flexible, and censorship resistant. One of the clever ways he mentioned was by having miners not know what the content of each block is by encrypting each block, but with the key to be released a few (six) blocks later. This would make it impossible (very difficult?) for miners to censor transactions. If they suddenly saw that a transaction they didn't like was included in a block, they wouldn't be aware of it until six blocks later, and in order to exclude it from the blockchain, they would have to undo six blocks worth of work! In effect, they would have to be mining against themselves.

From Roger Ver's summary of his dinner with Adam and Kristov Atlas.

submitted by /u/vakeraj
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