Cryptocurrency

On May 20, 2024, the Bitcoin Layer2 development team BEVM released the technical yellow paper titled “Taproot Consensus: A Decentralized BTC Layer2 Solution.” This paper details the implementation of Taproot Consensus, leveraging native Bitcoin technologies such as Schnorr signatures, MAST, and Bitcoin SPV nodes to build a fully decentralized BTC Layer2 solution. Taproot Consensus represents a significant leap in native Bitcoin scalability, combining existing Bitcoin technologies innovatively without modifying Bitcoin’s core code.I. History of Bitcoin’s Technical IterationsThe yellow paper begins by highlighting Bitcoin’s non-Turing complete nature and limited functionality for smart contracts. It argues for using Bitcoin’s existing capabilities to build a decentralized Layer2 solution rather than modifying Bitcoin Layer1.BEVM’s Taproot Consensus combines Bitcoin’s Taproot technology (Schnorr signatures and MAST), Bitcoin SPV light nodes, and the BFT PoS consensus mechanism to create a decentralized and consistent Layer2 network.III. Detailed Explanation of Taproot Consensus ArchitectureThe Taproot Consensus architecture comprises three main components: Schnorr+MAST, Bitcoin SPV, and Aura+Grandpa.· Schnorr+MAST: Uses these technologies from the Taproot upgrade to achieve decentralized Bitcoin multi-signature management driven by Bitcoin code.· Bitcoin SPV: Allows synchronization and verification of Bitcoin transactions without running a full node.· Aura + Grandpa: Advanced PoS consensus protocols for Byzantine fault tolerance, ensuring high consistency among network nodes.In the BEVM system, each validator holds a BTC private key for Schnorr signatures. The aggregated public key forms a MAST tree, enabling BTC transfers and inscriptions to the threshold signature address. Validators act as Bitcoin SPV light nodes, synchronizing the BTC network state securely and permissionlessly. Aura+Grandpa ensures the Layer2 network’s security and trustworthiness, with assets managed by BFT consensus.The operating principle of Taproot Consensus is: “In the BEVM system, each validator holds a BTC private key for Schnorr signatures. The characteristic of Schnorr signatures enables efficient signature aggregation, thereby enhancing the system’s security and efficiency. The aggregated public key Pagg, generated through the Musig2 multi-signature scheme, forms a large MAST (Merkle Abstract Syntax Tree). After generating the root hash of the MAST tree, validators perform BTC transfers and inscriptions to the threshold signature address generated by the MAST tree, enabling the submission of data from the BTC mainnet to the BEVM network. Each validator also acts as a Bitcoin SPV (Simplified Payment Verification) light node, allowing them to securely and permissionlessly synchronize the BTC network state.”IV. Other Technical Details in the Yellow (OTC:YELLQ) Paper – True DecentralizationThe yellow paper also details the implementation of Schnorr signatures, MAST, Bitcoin SPV light nodes, and Aura+Grandpa, providing a comprehensive technical outline for those interested in Bitcoin technologies. It explains the Musig2 implementation and contrasts with other BTC Layer2 projects like Mezo, which uses the tBTC protocol. Unlike tBTC, which relies on a network of nine signatories, Taproot Consensus integrates multi-signature networks with BFT PoS consensus, achieving true decentralization.Moreover, the yellow paper explains the implementation process of Musig2 and the differences between other BTC Layer2 projects like Mezo and Taproot Consensus. Mezo’s underlying technical structure is based on the tBTC protocol, which uses Bitcoin multi-signature to construct a threshold signature network, offering strong consistency compared to traditional distributed networks. However, tBTC still relies on a network of nine signatories, whereas a truly decentralized system should be consensus-driven, combining multi-signature networks with BFT PoS (Byzantine Fault Tolerance Proof of Stake) consensus mechanisms. This is the difference between distributed networks and blockchains; distributed networks emphasize distribution but lack Byzantine fault-tolerant consensus, whereas blockchains, while also being distributed networks, are driven by Byzantine fault-tolerant consensus, achieving true decentralization. The Taproot Consensus solution adopts this more advanced design. By integrating Schnorr signatures, MAST, Bitcoin SPV light nodes, and Aura and Grandpa Byzantine fault-tolerant consensus mechanisms, it constructs a highly consistent and secure decentralized Layer2 scalability solution. This integration enhances the scalability and usability of the Bitcoin network and ensures the security and consistency of the BEVM network.ConclusionThe BEVM team’s technical yellow paper comprehensively describes Taproot Consensus, a Bitcoin Layer2 solution built entirely on native Bitcoin technologies. It respects and innovates on Bitcoin’s original technological direction, making it a true evolution of native Bitcoin scalability technology. As the Bitcoin ecosystem evolves, solutions like Taproot Consensus will be crucial for its development, serving as major cornerstones for truly decentralized Bitcoin Layer2 solutions.About BEVMBEVM is the first fully decentralized, EVM-compatible Bitcoin Layer 2 solution. It allows Ethereum ecosystem DApps to operate on Bitcoin, using BTC as gas. BEVM enhances Bitcoin’s utility by providing a secure and scalable platform for decentralized applications. The system integrates advanced consensus mechanisms, cross-chain interaction, and robust data integrity to ensure a seamless experience. BEVM aims to innovate within the Bitcoin ecosystem by offering increased scalability, security, and compatibility with popular Ethereum tools and applications.For more information, users can visit BEVm’s official website or follow BEVM on Twitter.ContactTommieBEVMtommie@bevm.ioThis article was originally published on Chainwire More

A new Ethereum-based meme coin, “Book Of South Park” (BOSP), has officially launched following three months of community contributions and AI-inspired animations. This token, which pays homage to the iconic animated series “South Park,” aims to make a significant impact in the meme coin sector.In a groundbreaking move that merges the worlds of cryptocurrency and pop culture, there has just emerged the official launch of the “Book of South Park” meme token ($BOSP), a meme-inspired token paying homage to the legendary animated adult adventure series, South Park.With no predetermined hard cap and a three-phase staged pre-sale, with incremental price increases at each stage, the early bird is surely going to catch the worm.With a limited total fixed supply of only 10 billion, stage 1 is set to start at $0.0005 USD. $BOSP has set its sights fairly and squarely on becoming the crypto ecosystems next big project.BOSP is a unique Ethereum-based token that pays homage to the legendary animated series “South Park.” The token’s launch features a three-phase staged pre-sale with incremental price increases at each stage, encouraging early participation. The total fixed supply of BOSP is limited to 10 billion tokens, with stage 1 starting at $0.0005 USD.The storyline behind BOSP is designed to resonate with fans and investors alike. Set in the quiet mountain town of South Park, Colorado, it follows a group of four friends who stumble upon a mysterious book during one of their misadventures. This ancient tome, known as the “Book Of South Park” ($BOSP), contains the town’s secrets and untold stories. As the friends delve into the book, they discover it speaks of a hidden treasure that can only be unlocked through laughter and unity. They decide to share the Book Of South Park with the world, embarking on a journey filled with humor and camaraderie.At that moment, the $BOSP Token was born.Book of South Park ($BOSP) is not just another meme token. Drawing inspiration from the irreverent humour and social commentary of South Park, $BOSP aims to carve its own niche in the ever-evolving crypto landscape.At its core, $BOSP seeks to foster a community of like-minded individuals who share a unique passion for both digital tokens and the iconic series with a worldwide cult following. Through a decentralised network, BOSP provides a platform for fans to engage, transact and meme their way to financial prosperity, all while celebrating the wit and wisdom of South Park.$BOSP team states that the vision for Book of South Park goes beyond just creating another digital cryptocurrency. The team is building a vibrant ecosystem where fans can come together, express themselves, and participate in a movement that embodies the spirit of South Park – bold, irreverent, and unapologetically fun.To commemorate the launch of the “Book Of South Park” and in a crypto meme token first, $BOSP are having 5 unique and exclusive meme token / coins minted and given away to all qualified pre- sale contributors. This is a unique and rare opportunity in the history of meme coins.The launch will also include a series of activities and collaborations, designed to engage the community and offer exclusive rewards. Fans are encouraged to follow “Book Of South Park” on social media platforms like X and Telegram, or visit the official website for pre-sale information and updates.South Park fans should prepare themselves for an exciting journey into the world of cryptocurrency, infused with the show’s trademark sophomoric humor and incisive social commentary. It promises to be an engaging and thrilling experience.About Book Of South Park ($BOSP)”Book Of South Park” is an Ethereum-based meme token inspired by the popular animated series South Park. The project aims to build a decentralized community where fans can engage and participate in various activities while celebrating the show’s unique humor and commentary.Users cab follow the Book Of South Park on X or join its Telegram channel for up-to-date developments. Alternatively, visit the website to buy the in the pre-sale ContactMrSamBook Of South Parkbospcrypto@gmail.comThis article was originally published on Chainwire More

USDTlr.com is pleased to announce the successful launch of its new automated trading platform, which is now in the beta phase. This platform is designed to assist users in navigating the volatile market with no human intervention, streamlining the trading process. Without any human intervention, making the process seamless and efficient for users.The USDTlr automated trading system operates entirely on advanced algorithms and technology, ensuring precise and swift transactions. By removing the need for manual input, the platform aims to minimize errors and aims to provide a reliable investment experience for users.During this beta phase, USDTlr.com invites users to explore the platform and provide feedback. This feedback will be invaluable in refining and improving the system before the full launch. The team at USDTlr.com is committed to creating a user-friendly and secure environment for digital asset growth.For more information about the beta phase and how to participate, users can visit USDTlr.com .About USDTlr.comUSDTlr.com is dedicated to providing innovative solutions for digital asset investment. By leveraging cutting-edge technology, USDTlr.com aims to offer efficient and reliable services to help users grow their digital assets.ContactCEOMechouar, FaresUSDTBOOST LIMITEDmail@usdtlr.comThis article was originally published on Chainwire More

In a tweet, Hoskinson posted a GIF image that captioned “I have been and will always be your friend,” to which he wrote, “Doge to Bitcoin.” The Cardano founder was responding to a post on the passing of Kabosu.Kabosu, the face of Dogecoin and the iconic “Doge” meme, left a paw print on the hearts of many. Her passing has been felt across the internet, uniting diverse communities in remembrance of the joy she brought to the world.The Japanese Shiba Inu inspired a generation of online jokes after her skeptical glance became a symbol of internet humor in 2010. The recent comment by the Cardano founder not only pays tribute to Kabosu’s legacy but also highlights the camaraderie that exists within the crypto space.The Cardano founder’s memetic statement would be essentially true considering the relationship between Dogecoin and Bitcoin.In 2013, two software programmers, Jackson Palmer and Billy Markus, were inspired by the simplicity of Bitcoin to create Dogecoin, a parody cryptocurrency.Given that DOGE was originally a joke copy of Bitcoin, and used a significant portion of Bitcoin’s source code, the two cryptocurrencies share a lot in common.For example, both Bitcoin and Dogecoin use a proof-of-work (PoW) consensus mechanism involving miners. Transactions on a proof-of-work blockchain are stored in blocks. Once a block is full, a group of devoted users regarded as miners start to validate it.However, several changes have been implemented throughout time, causing Dogecoin and Bitcoin to differ more than they might appear at first.This article was originally published on U.Today More

Several Bitcoiners, including major figure in the community Erik Voorhees, have stood up to Howard to defend Buterin.At that price, the amount of ETH sold by Buterin comprised a massive $95,550,000. Howard pointed out that Buterin “dumped it on ETH holders.” He compared Buterin to the mysterious Bitcoin creator Satoshi Nakamoto, stating that “Satoshi still hasn’t sold one single Bitcoin. Ever.”Bitcoin maximalist and CEO of the ShapShift crypto exchange stepped in to defend Vitalik Buterin. The Bitcoin entrepreneur reminded Howard that Buterin had created $400 billion value using an investment of $18 million, and now “maxis mad that he profited 0.025%” of it.One X user, however, assumed that it is unknown whether Satoshi Nakamoto indeed kept all his Bitcoin unsold and did not profit on it.Among the Wall Street companies that filed for Ethereum ETFs were BlackRock (NYSE:BLK), VanEck, Grayscale and Ark Invest. Overall, the same companies that got spot Bitcoin ETFs approved in mid-January then filed for launching similar products based on the second biggest crypto, Ethereum.This decision came out unexpectedly, since many experts did not believe that the SEC would take so little time to approve these products. However, prior to the announcement, several funds updated their filings by removing ETH staking from them, since recently Coinbase (NASDAQ:COIN) and Kraken were sued by the SEC for launching crypto staking services.This article was originally published on U.Today More

This surge in activity among long-dormant Bitcoin addresses marks a significant trend in this current market cycle, reflecting an increase in the movement of old BTC holdings.According to Julio Moreno, the head of research at CryptoQuant, This current cycle has awakened more Bitcoin OG’s than ever. The 10+ year-old Bitcoin spending indicator reached a record high of 3.7% in March, when Bitcoin traded near $70,000, Moreno added. Interestingly, this indicator is currently at 2.5%, which represents the 30-day cumulative spending annualized of Bitcoin with more than 10 years old. This uptick is not far from the record high of 3.7% observed in March, signaling the resurgence of Bitcoin ancient whales. The term “ancient whales” refers to the earliest adopters of Bitcoin, who mined or purchased the cryptocurrency when it was in its infancy and far less valuable than it is today.As reported in the week, an early Bitcoin miner from the Satoshi era has moved 2,000 BTC coins mined way back in 2010. The reactivation of these ancient Bitcoin wallets is not merely a curiosity but a significant event that could have profound implications for the market. The spending of such old coins is a rarity, and when it happens, it is monitored closely for potential impacts on market dynamics. Old Bitcoin miners and whales often act as a source of liquidity and distribution, hence the attention such moves get. The cryptocurrency community and market analysts are closely monitoring this trend. Some view the reactivation of old addresses as a natural progression as Bitcoin matures as an asset class. Others are more cautious, considering it a sign of potential market cooling or preparation for a major price move. At the time of writing, BTC was up 2.86% in the last 24 hours to $69,126, extending its rebound from May 23 lows of $66,259.This article was originally published on U.Today More

Marine Moguls has launched on the ERC-404 protocol, introducing a new approach to digital asset management. The project features $2.9 million in prizes linked to over 25% of the tokens, providing $MOGUL owners a potential chance to win prizes, including 100,000 USDT and 50,000 USDT, along with staking rewards.$MOGUL Contract: 0x0c9bb15b32334bDAA7Ad319FA356Dd3E8e184564NFT Marketplace: https://market.marinemoguls.com All 10,000 Marine Mogul NFTs mock traditional finance while embracing decentralized blockchain. Each has a unique mix of provably random traits and rarities, with 5,000 having attributes that can be merged or crafted into rarer, more desirable, and valuable NFTs. These mechanics enrich the user experience and enhance the potential for returns through strategic trading and holding.Marine Moguls invites everyone to embark on a voyage through a financial wonderland, where every token is a treasure map to untold riches and thrilling market adventures.Users can sell the NFTs on the NFT marketplace, sell the tokens instantly on decentralized exchanges (DEX), or merge and craft NFTs to increase their rarity and value.This innovation allows users to discard (liquidate) an NFT instantly by simply selling a fraction (or all) of a $MOGUL token and repurchasing it minutes later to get a newly minted NFT rather than waiting for someone to buy the NFT on a marketplace, which was standard practice before the advent of ERC-404. Owning less than one $MOGUL token gives the user fractional ownership of the entire Marine Moguls NFT collection. As a result, ERC-404 solves the common and painful challenges of an auction-based NFT trading system that prohibits instant and seamless NFT trading and makes price discovery inefficient. Marine Moguls users who wish to sell their NFT for more than the $MOGUL token price can do so on the NFT marketplace. This innovative new concept is a far more efficient way to interact with, trade, and experience NFTs.Individuals can acquire $MOGUL tokens and join a fast-growing community at the forefront of blockchain innovation.For more information on trading and benefits, visit the official website or connect through the social platforms listed below.About Marine Moguls and MetBot by MetFiMarine Moguls and MetBot, powered by MetFi DAO, redefine AI and digital asset integration using the pioneering ERC-404 protocol. This initiative sets a new standard for blockchain utility, merging token fungibility with the unique traits of NFTs for instant 24/7 NFT liquidity and fractional NFT ownership, broadening access and appeal.MetBot enhances the ecosystem’s utility and value. As a cutting-edge AI high-frequency trading bot, MetBot provides Marine Mogul token holders exclusive access to high-frequency trading that has the potential for returns. This AI bot boasts advanced intelligence and adaptive trading strategies while giving users total control over their funds every step of the way.Marine Moguls and MetBot embody MetFi’s vision of innovation, decentralization, and a valuable and rewarding digital future. Joining the Marine Moguls community leads to an evolving ecosystem that challenges traditional concepts of value and ownership, delivering tangible benefits and sophisticated trading solutions that work in all market conditions.Official LinksNFT Marketplace: https://market.marinemoguls.com This article was originally published on Chainwire More

Michael Saylor, founder of MicroStrategy and a prominent Bitcoin advocate, posted a photo showing a climber delivering a Bitcoin flag to the summit of Mount Everest. This gesture was intended to highlight Bitcoin’s global reach and dominance. However, a subsequent post revealed that Cardano had already achieved this milestone two years prior. Charles Hoskinson responded to the post, ironically highlighting the advantage of Cardano over Bitcoin, particularly in terms of settlement time.Cardano’s blockchain architecture is designed to process transactions more quickly and at a lower cost compared to Bitcoin. Bitcoin, despite its market dominance, often faces criticism for its slower transaction speeds and higher fees, which are attributed to its proof-of-work consensus mechanism. In contrast, Cardano uses a proof-of-stake mechanism. This approach not only reduces the time it takes to settle transactions but also minimizes energy consumption.This article was originally published on U.Today More