Latest Bitcoin SV Hackathon News

<p>https://www.youtube.com/watch?v=EXANd5BtEno&feature=youtu.be</p>
<p>“The law is coming to Bitcoin.” We’ve heard Bitcoin inventor Dr. Craig Wright say it before and now it has come to light in two separate incidents.    </p>
<p>ICO pumper <a href=John McAfee was arrested in Spain and is facing tax evasion charges. Reports say his extradition to the United States is pending. The U.S. Justice Department alleged McAfee “evaded taxes and failed to file tax returns” from 2014 to 2018. “The indictment came after a civil charge from the U.S. Securities and Exchange Commission saying McAfee failed to disclose 23.1 million U.S. dollars in compensation for promoting seven digital asset projects.”

Also making headlines, United States government authorities issued indictments to four executives at BitMEX, including its CEO Arthur Hayes. They have been charged with “violations of the Bank Secrecy Act and conspiracy to violate the act by willfully failing to monitor money laundering.” BitMEX was banned from serving U.S. customers since 2015 due to regulatory requirements but it allegedly operated a derivatives exchange illegally.

In other news, it’s a wrap for the three-day CoinGeek Live conference that took place from September 30 to October 2. The show was a huge success with guests speaking from every corner of the world. It broadcasted live simultaneously from the Manhattan Center in New York and Kennington Studios in London.

There were some exciting new developments unveiled at the conference. Among them, the new partnership between UNISOT and TAAL Distributed Information Technologies Inc. (CSE:TAAL | FWB:9SQ1 | OTC: TAALF), as well as a technical update on the development of the Bitcoin SV infrastructure given by nChain CTO, Steve Shadders.

 Some other notable speakers at the conference are Managing Partner and the Head of Research at Fundstrat Global Advisors, Thomas Lee; Founder & CEO of Maxthon, Jeff Chen; and Queens College media professor and best-selling author, Douglas Rushkoff, among many others. The event culminated with a keynote speech from non-other than economist and writer George Gilder.

 U.S. Representative Darren Soto also made a guest appearance. He announced two new pieces of legislation that passed in the U.S. House of Representatives recently on blockchain and digital currency. The new laws seek to introduce greater certainty in the legal environment around blockchain technology. Congressman Soto also talked about blockchain growth in the United States.

“The innovation and potential of blockchain in cryptocurrency among many other applications has exponential possibilities and growth and looking forward to a great conversation on the work were doing here in the US congress as we speak.”

Also announced at the CoinGeek conference were the winners of the Bitcoin Association 3rd Bitcoin SV Hackathon.

Taking the 1st prize of $50,000 in BSV is Will Devine’s Repzip. Repzip is described as a self-sovereign identity and decentralized identity solution in which your unique identifier is your public key. Coming in 2nd place and winning $30,000 in BSV is Aleksandar Dinkov’s STOTASK, a company that revolves around data labeling. In 3rd place winning $20,000 in BSV is Niels van den Bergh’s project Kyrt. It aims is to become the world’s blockchain integration partner of choice.

There were more than 400 participants in the hackathon with several projects receiving honorable mentions.

Watch CoinGeek Live Day 1.

https://youtu.be/FAEoXeN0b8M

Watch CoinGeek Live Day 2.

https://youtu.be/FIgesLz9LTc

Watch CoinGeek Live Day 3.

https://youtu.be/cGcz1LLXMJY

" title="The CoinGeek Pulse: Episode 15" />
Business 9 October 2020

The CoinGeek Pulse: Episode 15

“The law is coming to Bitcoin.” We’ve heard Bitcoin inventor Dr. Craig Wright say it before and now it has come to light in two separate incidents.

<p>The winners of the Bitcoin Association <a href=3rd Bitcoin SV Hackathon were announced on October 2, the third and final day of the CoinGeek Live conference.

Will Devine’s Repzip got 1st place and won $50,000 in BSV, while Aleksandar Dinkov’s STOTASK got 2nd place and won $30,000 (BSV), and Niels van den Bergh’s project Kyrt got 3rd and won $20,000 (BSV).

https://twitter.com/BitcoinAssn/status/1312124143198896129?s=20

As time goes on and the winners continue to develop their hackathon submission, you will learn more about what each project does. However, on September 30, each of the three finalists gave a presentation on the first day of CoinGeek Live to explain to the panel of judges as well as the audience about what they had built for the hackathon.

Repzip

Repzip is a self-sovereign identity and decentralized identity solution in which your unique identifier is your public key. To map the digital identity to your real-life identity, Devine says that the identity verifier can ask the individual at hand a question that is encoded to their public key and if they respond to that question and sign it then you know that they have the private key for that public key and therefore are the owner of that identity.

When it comes to how Devine imagines a solution like Repzip being used, he explains,

An employee will create a self-signed Digital identity (DID) and send it to their HR department. The HR department will create that tx on-chain within their Metanet nodes that they control, therefore, if you get fired, the employer has control of your DID in the Metanet, which will allow them to say you are fired, therefore, if you try to do something like open a door that only an employee can, you won't be able to do it thanks to the system identifying the restrictions on your DID.

STOTASK

STOTASK is a company that revolves around data labeling. STOTASK capitalizes on the fact that even though companies prefer to label data with AI because it is often faster and cheaper, at the end of the day, humans will always be needed to train the machine learning algorithms labeling the data.

https://twitter.com/BitcoinSofia/status/1286682463792697353?s=20

On STOTASK, humans train machines how to think and receive micropayments for the work that they do. It is perfect for individuals looking to earn some pocket money as well as businesses that work with AI or businesses that sell large amounts of data.

Kyrt

Kyrt’s goal is to become the world’s blockchain integration partner of choice. On KYRT, you can connect over 2,000 apps that you probably use every day to the blockchain and receive micropayments for your interaction with the app and the blockchain. 

For example, “whenever Mailchimp receives a new sub, KYRT can send an automated micropayment to the subscriber to incentivize a newsletter opt-in,” said Neils van den Bergh.

“Or, KYRT can listen to on-chain events so that whenever a certain payment is received by a certain address it can do an action like an outbound email.”

https://twitter.com/kyrtofficial/status/1294234184169467904?s=20

More hackathons to come

We’d like to congratulate each of the three finalists as well as all of the individuals and teams who submitted a project to the Bitcoin SV Hackathon. Over 400 individuals participated in this hackathon and worked toward the Hackathon’s goal of connecting the world to one blockchain, the Bitcoin blockchain. Several projects received honorable mentions but Devine, Dinkov, and van den Bergh’s project stood out the most.

https://twitter.com/MrBitmonkey/status/1312390566790004737?s=20

If you missed the finalists presenting at the Hackathon, you can watch the full presentation below. 

https://www.youtube.com/watch?v=FAEoXeN0b8M&feature=youtu.be&t=22603

And if you happened to miss this Bitcoin Association Hackathon, do not worry, there will be more Bitcoin Association Hackathons in the future so be on the lookout!

Watch CoinGeek Live 2020 Day 3 here.

https://www.youtube.com/watch?v=cGcz1LLXMJY&feature=youtu.be

" title="Repzip wins top prize at 3rd Bitcoin SV Hackathon" />
Events 5 October 2020

Repzip wins top prize at 3rd Bitcoin SV Hackathon

Over 400 individuals participated in this hackathon and worked toward the Hackathon’s goal of connecting the world to one blockchain, the Bitcoin blockchain.

<p>https://www.youtube.com/watch?v=VFunVjggDWo</p>
<p>This week saw yet another <a href=51% attack on Ethereum Classic in what has become a worryingly common occurrence. The attack, the third incident in August, resulted in a 7,000 block reorganization, the equivalent of two days’ worth of mining.

The latest attack was first noticed by Bitfly, with the Ethereum Classic development team confirming it on Twitter.

https://twitter.com/eth_classic/status/1299824170260340737

Ethereum Classic Labs is blaming hash rental platforms for the attacks, claiming they have been exempted from KYC and AML regulations which promotes crime. ETC Labs blamed NiceHash in particular, saying that the latest attack was conducted with hash rate purchased from the company.

Still on Ethereum, a new report came out this week revealing that as much as $1 billion worth of Ethereum tokens are at risk from attack because they are missing a software standard released in 2017. The research, conducted by four Chinese and Australian universities, found that the tokens could be stolen by simply manipulating the smart contract code.

In other news, BTC block reward miners from the Chinese region of Inner Mongolia have lost out on state-subsidized power to run their operations. Local officials recently raised concerns regarding the miners, claiming they were of little benefit to the region.

With the move, BTC miners will see their electricity costs shoot up by 33%. The move came as a big blow to the miners, not only in Inner Mongolia, but also in surrounding regions who fear that their local governments may follow suit.

Two of the industry’s largest players, Bitmain and Ebang, were among the affected companies.

This week also saw the announcement of the top three finalists for the Bitcoin SV 2020 Hackathon. From a shortlist of 10 semi-finalists, Kyrt, STOTASK and RepZip emerged as the top projects. They will make their final pitches at the upcoming CoinGeek Live event.

RepZip is an identity system designed for the Metanet. It allows its users to verify their identities, provides verifiable credentials and enables on-chain contracts. Kyrt enables users to integrate Bitcoin microtransactions to events, enabling them to connect any app to the Bitcoin blockchain. STOTASK rewards users with Bitcoin micropayments for data labelling services, adding human assistance to machine learning.

The three emerged at the top in a hotly contested Hackathon which saw participation from 418 participants representing 75 countries.

The eagerly awaited CoinGeek Live 2020 is now just a few weeks away. It will be the biggest one yet, with speeches from some of the world’s leading minds, including Bitcoin creator Dr. Craig Wright, Wall Street veteran Tom Lee and globally renowned economist and visionary George Gilder. The event will highlight the latest developments in blockchain technology while charting the future of Bitcoin.

CoinGeek Live will broadcast live from the Manhattan Center in New York and London’s Kennington Studio. Grab a seat at this year’s biggest Bitcoin event by signing up here.

https://www.youtube.com/watch?v=hjThnLK7dcE&feature=youtu.be

" title="The CoinGeek Pulse: Episode 11" />
Business 4 September 2020

The CoinGeek Pulse: Episode 11

This week’s headlines include another 51% attack on Ethereum Classic, BTC miners losing subsidized power in China, and the finalists of the Bitcoin SV 2020 Hackathon.

<p><a href=Bitcoin offers developers "complete flexibility" and the chance to create something completely new, said Bitcoin Association Training and Development Manager Brendan Lee. He hosted a virtual session on constructing transactions with Bitcoin Script as part of the Bitcoin SV Hackathon webinar series, organized by the Bitcoin Association.

Lee's talk focused mainly on the Bitcoin Script elements and processes used to construct Bitcoin signatures. However he also touched on some background including the differences between Bitcoin and pre-fork coins like BTC and BCH, and covered the "why" of doing things in certain ways.

Bitcoin Script, he said, is based on Forth—a language that has existed since the 1960s and one Lee has used himself for years. He described it as "a powerful and complete language," and "like talking to a little brain." Bitcoin Script itself, he predicted, will become a new kind of computing architecture, to the point where we'll see processors designed and produced specifically to handle it.

How to build transactions: the basics

Constructing a signed Bitcoin transaction is based on predicate—that is, a statement which can be evaluated against a proposed solution. The Script first feeds inputs onto the stack, which the Script evaluation engine evaluates as true or false, then determines whether a transaction can be broadcast to the network.

He demonstrated some code examples for both simple and multi-signature (multisig) transactions, noting that multisig has always been part of Bitcoin, and that BSV allows about five different ways to construct them. What BSV no longer has is P2SH multisig, or pay-to-script-hash, which was added to the BTC protocol after Satoshi Nakamoto left the project, and according to Lee is "a very insecure way to create transactions." A BSV node will still validate a transaction that contains P2SH code, though it will ignore that code.

BSV multisig transactions have no limits on the number of signatures required in a multisig transaction, in keeping with its unbounded and unlimited philosophy. However at this stage, checking more than a few signatures in a transaction is computationally expensive, and is not the most efficient way to do things.

He also explained how nLockTime works, saying some sequence values could be left undefined and the transaction itself coded to broadcast at a future date (near or distant). The originator may then alter the transaction at any point before that date.

Lee also demonstrated the various types of SIGHASH functions, including NONE, SINGLE, ALL, ANYONECANPAY, and combinations of those. He explained the advantages and disadvantages of using them, and noted the full potential of each type is yet to be explored.

Legal implications of signing transaction data

One interesting point Lee focused on was the fact that a private key can count as a legal signature, and that any data a transaction contains could hold the originator legally liable once it's signed.

"This is a point I really want to hammer home," he said. Bitcoin is private but not anonymous, and it's always possible to tie a Bitcoin private key to a real-world identity.

"Bitcoin provides many tools that allow you to moderate what goes into a transaction... you can think of ways to apply your own identity, and apply it in useful ways."

For this reason, he said, a developer would want to be prudent about what data in the transaction can be signed. This is more of an issue on BSV and on the Metanet, where a single transaction can potentially contain a lot more than just payment information—for instance, user-generated data such as a social network post. An existing example is Baemail, which encrypts the full text of an email message and includes it in a transaction.

If you don't know what's in a transaction, or don't want to be held legally responsible for signing it, Lee added, it's best to use Script to ignore those parts of the transaction. The OP_CODESEPARATOR function is useful in this case, and the evaluator will ignore any data placed after the second one in a transaction script.

Questions, answers, and huge potential

It was clear from the questions and answers that most participating in the webinar were beginners, if not to Bitcoin then certainly to the BSV protocol. Questions ranged from what tools and languages were best to develop for Bitcoin, and whether there were existing code libraries to use.

Lee said programming language is usually a matter of choice, but added that the most widely-used language in BSV is actually JavaScript (eg: Money Button Connect), though there are some notable Python projects, like ElectrumSV.

"The nature of Bitcoin Script is interesting," he said. "It's virtually unlimited in what you can do, but it's not very user-friendly at the moment. It can be very easy to make a mistake, so be careful."

"Not very user-friendly" refers to BSV being relatively new, at least in terms of its extended data-processing abilities. But that's also an advantage: it offers opportunities for developers to build templates and libraries for others to use, something Lee predicted there would be a market for in the coming years.

All said, Bitcoin is an open book and it's an exciting environment for new and existing developers to enter. There's so much potential still to be explored. For developers, that presents an opportunity to not spend their careers regurgitating existing code and structures, but to explore and invent. And the rewards for those who invent something novel and innovative could be far greater.

" title="Brendan Lee: Bitcoin transactions offer complete flexibility, potential" />
Events 30 July 2020

Brendan Lee: Bitcoin transactions offer complete flexibility, potential

Brendan Lee hosted a session on constructing transactions with Bitcoin Script as part of the Bitcoin SV Hackathon webinar series.

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