You Can Now Prove a Whole Blockchain With One Math Problem – Really

The Electric Coin Company (ECC) says it discovered a new way to scale blockchains with “recursive proof composition,” a proof to verify the entirety of …

The Electric Coin Company (ECC) says it discovered a new way to scale blockchains with “recursive proof composition,” a proof to verify the entirety of a blockchain in one function. For the ECC and zcash, the new project, Halo, may hold the key to privacy at scale.

A privacy coin based on zero-knowledge proofs, referred to as zk-SNARKs, zcash’s current underlying protocol relies on “trusted setups.” These mathematical parameters were used twice in zcash’s short history: upon its launch in 2016 and first large protocol change, Sapling, in 2018.

Zcash masks transations through zk-SNARKs but the creation of initial parameters remains an issue. By not destroying a transaction’s mathematical foundation – the trusted setup – the holder can produce forged zcash.

Related:As Crypto Markets Go Cold, Who Will Pay for Open-Source Code?

Moreover, the elaborate ‘ceremonies‘ the zcash community undergoes to create the trusted setups are expensive and a weak point for the entire system. The reliance on trusted setups with zk-SNARKs was well known even before zcash’s debut in 2016. While other research failed to close the gap, recursive proofs make trusted setups a thing of the past, the ECC claims.

Bowe’s Halo

Speaking with CoinDesk, ECC engineer and Halo inventor Sean Bowe said recursive proof composition is the result of years of labor – by him and others – and months of personal frustration. In fact, he almost gave up three separate times.

Bowe began working for the ECC after his interest in zk-SNARKs was noticed by ECC CEO and zcash co-founder Zooko Wilcox in 2015. After helping launch zcash and its first significant protocol change with Sapling, Bowe moved to full-time research with the company.

Before Halo, Bowe worked on a different zk-SNARK variant, Sonic, requiring only one trusted setup.

Related:Zcash Developer Electric Coin Co. Reveals Q1 Financial Loss

For most cypherpunks, that’s one too many.

“People we are also starting to think as far back as 2008, we should be able to have proofs that can verify other proofs, what we call recursive proof composition. This happened in 2014,” Bowe told CoinDesk.

Proofs, proofs and more proofs

In essence, Bowe and Co. discovered a new method of proving the validity of transactions, while masked, by compressing computational data to the bare minimum. As the ECC paper puts it, “proofs that are capable of verifying other instances of themselves.”

Blockchain transaction such as bitcoin and zcash are based on elliptic curves with points on the curve serving as the basis for the public and private keys. The public address can be thought of the curve: we know what the elliptic curve looks like in general. What we do not know is where the private addresses are which reside on the curve.

It is the function of zk-SNARKs to communicate about private addresses and transactions–if an address exists and where it exists on the curve–anonymously.

The secp256k1 elliptic curve, used for bitcoin and ethereum via Hackernoon

Bowe’s work is similar to bulletproofs, another zk-SNARK that requires no trusted setup. “What you should think of when you think of Halo is like recursive bulletproofs,” Bowe said.

From a technical standpoint, bulletproofs rely on the “inner product argument,” which relays certain information about the curves to one another. Unfortunately, the argument is both very expensive and time consuming compared to your typical zk-SNARK verification.

By proving multiple zk-SNARKs with one–a task thought impossible until Bowe’s research–computational energy is pruned to a fraction of the cost.

“People have been thinking of bulletproofs on top of bulletproofs. The problem the bulletproof verifier is extremely expensive because of the inner product argument,” Bowe said. “I don’t use bulletproofs exactly, I use a previous idea bulletproofs are built on.”

In fact, Bowe said recursive proofs mean you can prove the entirety of the bitcoin blockchain in less space than a bitcoin blockhead takes – 80-bytes of data.

The future of zcash

Writing on Twitter, Wilcox said his company is currently studying the Halo implementation as a Layer 1 solution on zcash.

Layer 1 solutions are implementations into the codebase constituting a blockchain. Most scaling solutions, like bitcoin’s Lightning Network, are Layer 2 solutions built on top of a blockchain’s state. The ECC’s interest in turning Halo into a Layer 1 solution speaks to the originality of the discovery as it will reside next to code copied from bitcoin’s creator himself, Satoshi Nakamoto.

ECC is exploring the use of Halo for Zcash to both eliminate trusted setup and to scale Zcash at Layer 1 using nested proof composition.

— zooko (@zooko) September 10, 2019

Since the early days of privacy coins, scaling has been a contentious issue: with so much data needed to mask transactions, how do you grow a global network?

Bowe and the ECC claim recursive proofs solve this dilemma: with only one proof needed to verify an entire blockchain, data concerns could be a thing of the past:

“Privacy and scalability are two different concepts, but they come together nicely here. About 5 years ago, academics were working on recursive snarks, a proof that could verify itself or another proof [and even] verify multiple proofs. So, what [recursive proof composition] means is you only need one proof to verify an entire blockchain.”

To be sure, this isn’t sophomore-level algebra: Bowe told CoinDesk the proof alone took close to nine months of glueing various pieces together.

A new way to node

A further implication of recursive proofs is the amount of data stored on the blockchain. Since the entire ledger can be verified in one function, onboarding new nodes will be easier than ever, Bowe said.

“You’re going to see blockchains that have much higher capacity because you don’t have to communicate the entire history in one. The state chain still needs to be seen. But if you want to entire the network you don’t need to download the entire blockchain.”

While state chains still need to be monitored for basic transaction verification, syncing the entire history of a blockchain–over 400 GB and 200 GB for ethereum and bitcoin respectively–becomes a redundancy.

For zcash, Halo means easier hard forks. Without trusted setups, ECC research claims, “proofs of state changes need only reference the latest proof, allowing old history to be discarded forever.”

When asked where his discovery ranks with other advancements, Bowe spoke on its practicality:

“Where does this stand in the grand scheme of things in cryptocurrency? It’s a cryptographic tool to compress computation… and scale protocols.”

Rubix cube image via Shutterstock

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Bitcoin’s Slow Days Count Adds Another Point; Value Stagnates Around $10300

Bitcoin’s current slowdown is not a thing to be over so soon. Adding another day to the series, Bitcoin has been down by almost 0.5% in the last 24 …
  • Bitcoin lost 0.5% in the last 24 hours and closed the day around 10,300 USD.
  • The next resistance for Bitcoin may come at 10,600 USD.

Bitcoin’s current slowdown is not a thing to be over so soon. Adding another day to the series, Bitcoin has been down by almost 0.5% in the last 24 hours. With four colossal price shifts in this period, it could maintain the value above 10,300 USD. However, the medium-term of Bitcoin is likely to get bullish.

BTC to USD Price Comparison-

Bitcoin’s journey for the day started with a descent of 1.77% between 00:10 UTC and 11:01 UTC. This descent had two breaks in between at 10,422 USD and 10,354 USD. The highest point for Bitcoin recorded yesterday was 10,451 USD.

Bitcoin price chartBitcoin price chart
Bitcoin Price Chart by TradingView

The second price variation started at 11:01 UTC, and over the next 1 hour and 58 minutes, it gathered 88 USD to be placed at 10,354.25 USD by 12:58 UTC.

The next variation happened between 12:58 UTC and 20:12 UTC and this variation saw a fall of 1.82% that cost BTC price 188 USD. This made it reach the lowest point of the day at 10,166 USD. However, towards closing, it got strengthened and achieved a 2.11% hike by 00:02 UTC, today. During the initial hours of today, Bitcoin has been losing value and as per the latest data, it has been down from 10,380 USD to 10,325 USD.

Bitcoin Price Prediction-

Bitcoin is the topmost coin of the market and the whole market tends to follow the price movement of it. There is no second opinion on the grim conditions of the market, coupled with an overall slow global economy. Negating possibilities of tremendous unprecedented growth, we predict Bitcoin to touch cross 11,000 USD by the end of this month.

Support & Resistance Levels-

R1- $10459.16, R2- $10557.77, R3- $10674.05

S1- $10244.27, S2- $10127.99, S3- $10029.38

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Bitcoin-Mining Machine market Production, Consumption by Regions 2025

A global market research report by Researchunt.com offers the latest published report on global Bitcoin-Mining Machine market and Forecast …

A global market research report by Researchunt.com offers the latest published report on global Bitcoin-Mining Machine market and Forecast 2019-2025 for delivering key insights into the global businesses. The blend of primary and secondary research has been implemented while analyzing the different facts and informative data of the global Bitcoin-Mining Machine market. Moreover, it delivers key insights into the global market and providing a competitive advantage to global clients through a detailed description of the global Bitcoin-Mining Machine market report. This report focuses on the global key players functioning at a global level, to define, describe and analyze the various aspects of the global Bitcoin-Mining Machine market such as value, market share, and global market size and market competition landscape. It offers 360-degree informative data on market by covering a lot of aspects of the market such as drivers, restraints, challenges, key regions, and global growth opportunities.Bitcoin-Mining Machine market

Sample report can be viewed in a PDF form by visiting @researchunt.com/report/global-bitcoin-mining-machine-market-research-report-2019-2025/#Free-Sample-Report

North America, Latin America, Asia-Pacific, Africa, and Europe have been scrutinized by researchers to get an analysis of technological advancements and product development status across the global regions. The rising need for the Bitcoin-Mining Machine sector and the growing prevalence of Bitcoin-Mining Machine is responsible for enlarging the global market. The number of key players, as well as key vendors operating at the global level, is also analyzed by researchers. The informative data of global report has been collected by analyzing the global regions via different reliable sources such as interviews, press releases, websites, and surveys by using industry-specific research methodologies. Also, it gives the competitive landscape of the global market to understand the competition level among global competitors.

Moreover, it incorporates massive data of the global target market concerning various terminologies such as business perspectives from different professionals, views and opinions from decision-makers and industry experts. To formulate the complex decision-making process, this global research report is useful.

Read Detailed Index of full Research Study at @researchunt.com/report/global-bitcoin-mining-machine-market-research-report-2019-2025/

While there is a number of companies engaged in Bitcoin-Mining Machine, the report has listed the leading ones in the world. They are

  • Antminer
  • ASICrising GmbH
  • Bitmain Technologies Ltd.
  • BIOSTAR Group
  • BitDragonfly
  • BitFury Group
  • DigBig
  • Ebang
  • Gridchip
  • BTCGARDEN
  • Butterfly Labs, Inc.
  • Clam Ltd
  • CoinTerra, Inc.
  • Black Arrow
  • Btc-Digger
  • Gridseed
  • HashFast Technologies, LLC
  • iCoinTech
  • Innosilicon
  • KnCMiner Sweden AB
  • Land Asic
  • LK Group
  • MegaBigPower
  • SFARDS
  • Spondoolies-Tech LTD
  • TMR

Researchers have also split their study into the following types:

  • ETH Type
  • BTC Type
  • Other

In the same way, the study has divided by applications:

  • Enterprise
  • Personal

As far as regions, the global Bitcoin-Mining Machine market has listed key regions:-

  • North America
    • U.S.
    • Canada
  • Europe
    • Spain
    • UK
    • Italy
    • France
    • Germany
    • Rest of Europe
  • Asia-Pacific
    • China
    • Australia
    • India
    • Japan
    • Rest of Asia-Pacific
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa
  • Central & South America
    • Brazil
    • Mexico
    • Argentina
    • Rest of Central & South America

Browse Detailed TOC, Tables, Figures, Charts And Companies Mentioned In Bitcoin-Mining Machine Market Research Report [email protected]researchunt.com/report/global-bitcoin-mining-machine-market-research-report-2019-2025//#Buying-Enquiry

Pointers covered through this global research report:

1. Analysis of drivers, restraints, and opportunities

2. Elaboration on sales patterns and methodologies

3. Profiling of leading key players across the globe

4. Detailed analysis of demand-supply chaining

5. Well explained SWOT and Porter’s Five technique

6. Analysis of key regions such as APAC, Africa, North America, Latin America

7. Elaboration on the global competitive landscape

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Researchunt is a one-stop destination for diverse industries, companies and country reports. We have a good repository of latest industry reports, top & niche company profiles, along with the latest market statistics released by both the public and reputed private publishers. In a sense, Researchunt is a comprehensive collection of all the market intelligence products and services found under the sun. Here one can find market research reports from all the leading publishers keeping abreast to the daily updates coming in this domain for our clients. So, our clients can have access to this database while they benefit the best from expert insights on global industries, products, and market trends.

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FarmaTrust Price Changed by 2.17 percent

FarmaTrust FTT/UST on Bitfinex exchange is 1.23. The trading volume on Bitfinex is 79599.00. FarmaTrust average change within 24 hour is 2.17 …

As at 2019-09-13 average FarmaTrust price is 0.00110100 USD, 0.00000011 BTC, 0.00000619 ETH.

It’s noteworthy that is issued into circulation FarmaTrust.

In this regard, 24 hour trading volume is 11533.09472311 USD or 1.15226196 BTC. At the same time FarmaTrust market capitalization is 660600 USD or $66 BTC.

FarmaTrust FTT/USD on FTX (Spot) exchange is 1.21. The trading volume on FTX (Spot) is 516705.00.

At the same time FarmaTrust FTT/USDT on CoinEx exchange is 1.22. The trading volume on CoinEx is 45239.00.

FarmaTrust FTT/USDT on BitMax exchange is 1.23. The trading volume on BitMax is 859095.00.

FarmaTrust FTT/UST on Bitfinex exchange is 1.23. The trading volume on Bitfinex is 79599.00.

FarmaTrust average change within 24 hour is 2.17 against USD, 0 against BTC, 2.65 against ETH. Weekly report: 9.57 against USD, 22.22 against BTC, 8.98 against ETH. Monthly report: 2.43 against USD, 22.22 against BTC, 22.77 against ETH.

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Reviewing Alteryx Inc. (AYX)’s and LogMeIn Inc. (NASDAQ:LOGM)’s results

We are contrasting Alteryx Inc. (NYSE:AYX) and LogMeIn Inc. (NASDAQ:LOGM) on their risk, institutional ownership, analyst recommendations, …

We are contrasting Alteryx Inc. (NYSE:AYX) and LogMeIn Inc. (NASDAQ:LOGM) on their risk, institutional ownership, analyst recommendations, profitability, dividends, earnings and valuation. They both are Application Software companies, competing one another.

Earnings and Valuation

Gross Revenue Price/Sales Ratio Net Income Earnings Per Share Price/Earnings Ratio
Alteryx Inc. 102 23.85 N/A 0.50 235.55
LogMeIn Inc. 76 2.78 N/A 0.62 122.33

We can see in table 1 the earnings per share, gross revenue and valuation of Alteryx Inc. and LogMeIn Inc. LogMeIn Inc. is observed to has lower revenue, but higher earnings than Alteryx Inc. Company that currently has a higher price-to-earnings ratio means that it is the more expensive of the two businesses. Alteryx Inc.’s current price-to-earnings ratio is higher than that of LogMeIn Inc., which means that it is the expensive of the two.

Profitability

Table 2 provides Alteryx Inc. and LogMeIn Inc.’s return on assets, net margins and return on equity.

Net Margins Return on Equity Return on Assets
Alteryx Inc. 0.00% 15.5% 6.8%
LogMeIn Inc. 0.00% 2.5% 1.9%

Liquidity

Alteryx Inc. has a Current Ratio of 1.6 and a Quick Ratio of 1.6. Competitively, LogMeIn Inc.’s Current Ratio is 0.5 and has 0.5 Quick Ratio. Alteryx Inc.’s better ability to pay short and long-term obligations than LogMeIn Inc.

Analyst Recommendations

The Recommendations and Ratings for Alteryx Inc. and LogMeIn Inc. are featured in the next table.

Sell Ratings Hold Ratings Buy Ratings Rating Score
Alteryx Inc. 0 1 3 2.75
LogMeIn Inc. 1 2 0 2.67

$134.4 is Alteryx Inc.’s consensus price target while its potential upside is 17.08%. On the other hand, LogMeIn Inc.’s potential upside is 14.11% and its consensus price target is $79.67. The results from earlier shows that analysts belief suggest that Alteryx Inc. seems more appealing than LogMeIn Inc.

Insider & Institutional Ownership

Institutional investors held 86.9% of Alteryx Inc. shares and 0% of LogMeIn Inc. shares. Alteryx Inc.’s share held by insiders are 0.7%. Competitively, 1.8% are LogMeIn Inc.’s share held by insiders.

Performance

Here are the Weekly, Monthly, Quarterly, Half Yearly, Yearly and YTD Performance of both pretenders.

Performance (W) Performance (M) Performance (Q) Performance (HY) Performance (Y) Performance (YTD)
Alteryx Inc. -2.55% 8.41% 34.32% 66.42% 199.01% 97.65%
LogMeIn Inc. 3.36% 2.93% -6.24% -17.15% -6.5% -6.87%

For the past year Alteryx Inc. had bullish trend while LogMeIn Inc. had bearish trend.

Summary

Alteryx Inc. beats LogMeIn Inc. on 11 of the 12 factors.

Alteryx, Inc. provides self-service data analytics software platform that enables organizations to enhance business outcomes and the productivity of their business analysts. It offers Alteryx Designer for data preparation, blending, and analytics that could be deployable in the cloud and on premise; Alteryx Server, a secure and scalable product for sharing and running analytic applications in a Web-based environment; and Alteryx Analytics Gallery, a cloud-based collaboration offering that allows users to share workflows in a centralized repository. The company serves clients in business and financial services, consumer goods, healthcare, retail, technology, and travel and hospitality industries in approximately 50 countries. Alteryx, Inc. was founded in 1997 and is headquartered in Irvine, California.

LogMeIn, Inc. provides cloud-based services for individuals and businesses to securely connect to their workplace, colleagues, and customers. The company offers GoToMeeting, a secure product for online meetings, sales demonstrations, and collaborative gatherings; GoToTraining, a secure online training product for interactive training sessions; GoToWebinar, a do-it-yourself Webinar product for organizations to enhance market reach; join.me, join.me pro, and join.me enterprise that are browser-based online meeting and screen sharing services; OpenVoice, a reservation-less audio conferencing service; Grasshopper, a provider of cloud-based telephony solutions; and BoldChat, a Web-based live chat service. It also provides GoToAssist, GoToAssist Corporate, and GoToAssist Seeit, which offer cloud-based IT support solutions to deliver uptime for people and their computers, mobile devices, and apps; LogMeIn Rescue, Rescue Lens, and LogMeIn Rescue+Mobile, which are Web-based remote support and customer care services offering remote support; and Xively, an IoT cloud platform and connected product management solution. In addition, the company offers LogMeIn Central, a Web-based management console; GoToMyPC, an online service that enables mobile workstyles; LogMeIn Pro, a remote access service; LastPass, a password management and single sign on solution; LogMeIn Backup, a service that subscribers install on two or more computers to create a backup network; LogMeIn Hamachi, a hosted virtual private network service; and RemotelyAnywhere, a LAN-based systems administration product used to manage personal computers and servers. It serves small and medium businesses, IT service providers, mobile carriers, customer service centers, original equipment manufacturers, enterprise customers, and consumers. The company was formerly known as 3am Labs, Inc. and changed its name to LogMeIn, Inc. in March 2006. LogMeIn, Inc. was founded in 2003 and is headquartered in Boston, Massachusetts.

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