Viacoin VIA Mining Without Hardware
Nov 14, 2017 Viacoin has all the right features. ViaCoin / VIA - Lightning Currency of the Future The Crypto Lark. Secure your coins with a hardware wallet!
[8]The Lightning Network is a transfer network operating at a layer above the Viacoin blockchain using smart contract functionality in the blockchain to enable instant payments across a network of participants. This enables improvements of several orders of magnitude in transaction throughput by moving the majority of transactions outside the consensus ledgers into Payment channels. This allows millions to billions of transactions per second across the network. How Easy Was It To Mine DigiByte DGB In The Beginning here. A capacity that blows away legacy payment rails. This is made possible by supporting on-chain scripts in which parties enter into bilateral stateful contracts, in which the state can be updated by sharing a digital signature and can be closed by publishing evidence onto the blockchain.
Even if there is not a k-of-k situation, any other policy of what combination of keys can be signed. All one needs is a merkle tree plus the ability for Schnorr to add up and build a tree where every node leaf of the tree is a combination of keys that can be signed. These then need to be hashed together and the root is the address. OP_CHECKSIG & OP_CHECKMULTISIG will be modified so that they can stack pubkeys, delinearize and associate validated inputs and produce a combined signature for the transaction resulting into a 20% reduction in block size. Viacoin scripting language allows to store small amounts of metadata on the blockchain which can represent asset manipulation instructions.
A Viacoin transaction can be encoded that x units of a new asset were issued and are credited to a Viacoin address. The term is derived from the idea of “coloring” a nominal amount of coins.
By coloring a Viacoin, it turns into a token that can represent anything a user wants to trade like company stocks or physical goods. This seems very similar to ’Counterparty’ but there are some key differences. It uses the Viacoin blockchain (e.g NXT). [9]colored coin transaction which is usually stored in one of the OP_RETURN opcodes. The output containing the OP_RETURN is called a marker output.
This marketcout can have a zero or non-zero value. The marker outputs starts with the OP_RETURN opcode and can be followed by any sequence of opcodes which must contain a PUSHDATA opcode containing a parsable open Asset market Payload. The asset quantity list field is used to determine the quantity of each output of the asset and each integer is using LEB128 encoding. If this exceeds 9 bytes, the market output is deemed invalid. The maximum asset quantity for an output is 2 6 3 -1units.
The colored coins [4]Open Asset Protocol sits on top of the Viacoin protocol. It does not require any changes to the Viacoin protocol itself. Mast allows Viacoin transaction validation scripts to be stored in partially-hashed form and allows nodes to interact with Merkle Trees. “When spending, users may provide only the branches they are executing, and hashes that connect the branches to the fixed size Merkle root. This reduces the size of the redemption stack from O(n) to O(log n) (n as the number of branches).
This enables complicated redemption conditions that is currently not possible due to the script size and opcode limit, improves privacy by hiding unexecuted branches, and allows inclusion of non-consensus enforced data with very low or no additional cost.”. Usually all smart contracts would be visible on the blockchain and take up space. With MAST it is possible to only reveal the smart contracts that have been completed, saving space as nodes only have to read the top layer of the Merkle Tree. This may seem familiar to Ethereum’s smart contract system but there is a difference.Ethereum accesses a VM directly where VIA will obtain access to a VM though RootStock (RSK). RSK aims to be what Ethereum should have been: a decentralized, Turing-complete smart contract platform.