Public Modlogs
Check the mod logs of any subreddit that uses /u/publicmodlogs
Bitgree - Buy (almost) Anything With Bitcoin Cash! A Professional e-commerce Platform Optimizing The Use Of Bitcoin Cash
"We have been working hard to add support for CashTokens to the CashScript SDK and today we're releasing version 0.8.0-next.2, which includes preliminary CashScript support on the CHIPNET network. It can be installed by running: npm install cashscript@next"
Added a "Display Verified Only" filter to my CashTokens Webwallet! 😄
Paying users to lock BCH for the long term (via Unspent.app)Edit: Unpsent.app announcement link
https://old.reddit.com/r/btc/comments/z8zy4n/announcing_unspentapp_an_app_for_creating_and/
I'm not sure this is possible but I was inspired by the Unspent.app and figured I would share here for discussion.
The requirement is to facilitate paying an effective interest rate to reward users who lock their BCH thus nullifying the inflation caused by mining rewards every month. Participation may also serve to limit the negative effective of paper BCH kept by exchanges as rises in the BCH price incentivise exchange withdrawals.
The motive for reward paying capital is to nullify the short term selling pressure that miners apply to the BCH market as they need to sell their BCH fast. Such reward paying capital seeks to bring forward a rise in the BCH price.
The motive for locking capital is the reward paid in return for notifying the general market of their commitment to lock BCH for the long term.
So what kind of payment and locking parameters are required to incentivise a significant amount of participation?
Current BCH block reward: 6.25 BCH
BCH block time: 10 minutes
Approx blocks per month: 4320
Approx BCH mined per month: 27,000
Current BCH/USD: $115
Approx USD value of BCH mined per month: $3.1 million
So a contract that freezes 27,000 BCH per month if paying at an annuity of 5% would pay 1,350 BCH ($155K).
This means if interest paying capital can supply a 5% annuity of 1,350 BCH into the contract with 27,000 BCH committed to a time lock for 30 days then the time lockers at the end of the 30 days receive their original capital back plus their portion of the 1,350 BCH incentive payment.
How can this be implemented as an Unspent.app contract?
Parameters: minimum lockable, minimum reward, locking days
The contract has 3 phases: funding, locked and rewarding.
During the funding phase users paying rewards can send or withdraw BCH to/from the contract.
Users seeking rewards can send or withdraw BCH to/from the contract.
When the total lockable BCH is greater than the minimum lockable and the total rewards is greater than the minimum reward the contract becomes locked.
During the locked phase no actions can be made upon the contract. At this time the total existing paying capital and reward seeking capital will remain locked for 30 days (locking days).
After 30 days any executor can trigger the rewarding phase which will payout all reward seeking capital their original BCH plus their portion of the reward.
After the rewarding phase is complete to facilitate crowd participation the same contract can return to the funding phase. Thus the same contract can be reused again and again.
Exclusive Interview with Fernando: Creating a Next-Generation Bitcoin Cash Node with Knuth's ProjectAll you need to know about Knuth project and Fernando Background on the BCH ecosystem
How Bitcoin Cash Threatens the Traditional Banking System After the 2008 Financial Crisis
The Bitcoincash Argentina
Invest (In Bitcoin Cash) When Others Are Fearful
+300 merchants accept BCH in Argentina
Why Bitcoin Cash is A Great Option for Everyday Transactions
This is exactly why bitcoincash is a future asset.
Are you ready to close the gap anon? (Flipstarter launch)I have been working on something for a while that I believe is a missing piece of the BCH puzzle - an online marketplace(akin to Amazon or Ebay) where users can spend their coin or make more BCH in exchange for their goods and services. A marketplace that focuses on Bitcoin Cash **only** and free, voluntary trade but that is also user-friendly and feels interesting to use.
With global banking systems in trouble and BTC running out of reasons to exist, now is absolutely the time to close the gap and spread our wings as a free community. It is my belief that an online marketplace can accelerate adoption and usage as it answers the questions that I see time and again:
\- Where can I spend my BCH now that I've accumulated it?
\- Where can I attain more BCH without KYC?
These are questions, that if answered, will lead new users to adopt more readily.
And so it's with pleasure that today I announce the Flipstarter for Agora Connect to help drive us forward to the place where we all know we are heading.
To view the Flipstarter or pledge, you can do so here: [Flipstarter - Agora Connect Online Bitcoin Cash Marketplace](https://flipstarter.freethemarket-agoraconnect.com/en)
Screenshots of development so far(because I messed up the link to the screenshots in the Flipstarter): [Screenshots](https://imgur.com/a/8dai50e)
To track delivery and see regular updates, you can do so on the Official Twitter Account here: [Agora Connect Twitter](https://twitter.com/Agora_Connect)
Most of you know me on Twitter and/or Telegram but in case you want to follow, I will also be posting updates on my Twitter here: [NeonDaThal Twitter](https://twitter.com/NeonDaThal)
I'm open to any questions, comments, inputs, feedback or anything else anybody wants to discuss around the Flipstarter or the site.
I hope you are as excited about this as I am.
How To Pay For Your Chess.Com Membership With Bitcoin Cash!
At first, BCH would sound too good to be true but a trial is just enough to convince anyone
Ditch the Jargon: A Dummy's Guide to Understand CashTokens
Even the negative ones have started embracing the idea. Crypto is winning...BCH is winning.
Leverage or Hedge? Understanding the Concepts and Advantages of BCHBULL
Wish, Propose, Buy: How Bitgree Marketplace Makes Bitcoin Cash Transactions User-Friendly
Exploring BCHBull: An Exclusive Interview with emergent_reasons, Legend of the BCH Community
Why Investors Need to Welcome the Cryptocurrency Bear Market With Open Arms.
Understanding the Goals of bch.data.blog and How It Contributes to the BCH Community
Bitgree Marketplace: The Decentralized Way to Buy and Sell with Bitcoin Cash
Intention to invest in cryptocurrencies – a master’s thesis surveyHi,
First of all, we would like to thank the moderators of the subreddit for allowing us to make a post about this project and anyone who is willing to participate in this project!
The link to the survey can be found at the bottom of the post.
​
**Purpose of the project**
The purpose of the master’s thesis is to better understand which factors may influence retail investors’ intention to invest in cryptocurrencies.
The independent variables used in the thesis are:
\- Performance Expectancy
\- Effort Expectancy
\- Social Influence
\- Facilitating Conditions
\- Fear of Missing Out
\- Loss Aversion
\- Herding Behavior
The dependent variable used in the thesis is:
\- Behavioral Intention, more specifically «Intention to invest in cryptocurrencies»
The survey does not include questions regarding moderators like age or gender.
​
**Which institution is responsible for the research project?**
Inland School of Business and Social Sciences, Campus Rena ( [https://www.inn.no/english/about-inn-university/campus-rena/](https://www.inn.no/english/about-inn-university/campus-rena/) )
​
**Why are you being asked to participate?**
You are being asked to participate in this study, because we want to investigate retail investors who uses Reddit to gather information for investment purposes. Our population are retail investors who invest in cryptocurrencies and our convenience sample are retail investors who invest in cryptocurrencies and uses Reddit.
​
**What does participation involve for you?**
Your participation involves you answering an online survey regarding various factors (see «Purpose of the project»). Based on two pilot tests (total n=8) the estimated time to answer the survey is 5-10 minutes, but you may take all the time you need.
Your response to the survey is important to better understand which factors may influence retail investors’ intention to invest in cryptocurrencies, more specifically those who use Reddit. It will contribute to the fields of research within behavioral finance and use of financial technology.
​
**Participation is voluntary**
You may at any given time decide to not participate in this survey by simply not completing the survey. It is not possible to remove your response from the survey after completing it, because every response will be anonymous.
​
**Your personal privacy – how we will store and use your personal data**
The data collected from this survey will only be used in this master’s thesis. The survey is made in accordance with the Personal Data Act in Norway. To avoid inappropriate storage of data in the application, the data in the submitted responses will be deleted as soon as possible and no later than within six months. The form will not store information on respondents. In other words, identification of individual respondents will not be possible. As we want to maintain the anonymity of Reddit-users, the survey will not store any information which could help identifying individuals (social security number, full name, username, email). For more information about Nettskjema and privacy, check this link: [https://www.uio.no/english/services/it/adm-services/nettskjema/privacy/tos.html](https://www.uio.no/english/services/it/adm-services/nettskjema/privacy/tos.html)
​
**The link to the survey (anyone who uses this link can fill out the survey):**
[https://nettskjema.no/a/324201](https://nettskjema.no/a/324201)
​
Our account doesn’t have enough karma to comment, but feel free to post a comment if you want to give feedback.
Thank you again for taking part in our project!
Say Goodbye to Boring QR Codes: Bring Your Brand to Life with Animated <qr-code>
Products, not features!
BITCOIN INVENTOR DR WRIGHT GRANTED PERMISSION TO SUE ROGER VER FOR DEFAMATION IN ANTIGUA
Unlocking New Possibilities: CashTokens and the Future of DeFi on Bitcoin Cash
Exclusive Interview with The Bitcoin Cash Podcast Founder and Host: The Story of BCH's Potential
Interview with Mathieu Geukens, Developer of the First Web Wallet with CashTokens Support
Subtipper has just tipped the top posts for this community! [13:03 GMT February 23, 2023]Thanks to all posters for providing great content!
The top posts since the last payout (~1 week) have been tipped 1 US cent per vote, or 7171 sats per vote.
For an explanation of Subtipper and how it works, please see [this article](https://read.cash/@dave_gutteridge/subtipper-8e6564f2).
Winning posts:
***
Tips not claimed within 7 days will be returned to the Subtipper fund and tipped out to future posts.
To support this bot, help spread Bitcoin Cash, and encourage great content in the r/btc community, tip this post using Chaintip by including u/chaintip in your comment!
Thanks!
Note: this payout event was triggered by [block 781160](https://explorer.bitcoin.com/bch/block/000000000000000003531b3cc58a440acaec94324d0d3723722c8581fa696001), which was mined more than 3 days since the last event and has the last three hex digits of its hash (joined as a number) strictly smaller than 7. The BCH price at the time of activation was $139.46
I Interviewed Unspent Phi Dev: Find All about the DeFi BCH App Built on Small Composable Contracts
I don't want to sit on the fence and I have taken a stand with BCH ever since I realized its usefulness. The current financial crisis has made BCH evangelism easier for me within my environment and this is how I'm utilizing the opportunity.
Banking the Unbanked: Bitcoin Cash as the Key to Financial Inclusion in Third World Countries
Strangled: The Bleak Future of read.cash and its Impact on Bitcoin Cash
Ordinals: NFTs Explained
Bitcoin Ordinals are taking over Web3 – or so it seems. The barrier for entering the crypto market has lifted immensely in recent years – nevertheless, Ordinals have managed to catch the attention of many crypto enthusiasts around the world. What makes them so special? How do they work? In this guide, we will give you an overview of the new trend that has brought NFTs to the Bitcoin blockchain.
Check out our guide [here](https://getblock.io/blog/ordinals-bitcoin-nfts-explained-bitcoin-nft-ordinals-inscriptions-key-takeaways/?utm_source=reddit&utm_medium=smm&utm_campaign=promo) :)
Enjoy, guys, and don't feel shy to share your thoughts :)
Bitcoin Cash: The Solution to Bitcoin's Scaling Issues
CANADA: Freezing bank accounts "was a powerful tool to discourage participation and to incentivize protestors to leave..."
The Benefits of Using Bitcoin Cash for Business Transactions and Remittances (enjoy the best decentralized money)
Zapit.io: The Bitcoin Cash Wallet with Cutting-Edge Features and High-End Security (soon releasing BCH P2Pexchange)
The Advantages of Bitcoin Cash: The Fast, Reliable, and Low-Cost currency for Everyday Transactions [why Bitcoin Cash?]
Unspent Phi: The Decentralized Platform for Simple Smart Contracts on the Bitcoin Cash Blockchain
Chaintip Bot: A superb Way to Tip and Reward Content Creators On Reddit, Twitter and GitHub
Maxi's are already infesting nostr with LN. Does anyone have the chops to integrate a BCH wallet? nostr is an open source, decentralized, server-less protocol, and, after a few hours messing around with it, seems cool with huge potential...
Tipb.ch: A User-Centered Solution for Receiving Tips in Bitcoin Cash
Alright Purse.io - why the stagnation and lack of order-clearing? (02Feb2023)Purse admin friends, fellow users, I'm trying to figure-out why Purse still has rookie errors so many years later.
I've used Purse.io since the end of 2018. I've probably filled orders as an Earner hundreds of times (sometimes $4,000 computers and other items), and I've used it a little as a Buyer.
My gripe is this order right here:
RATE PRICE BCH AMOUNT SHOPPER RATING
5% $80.72 0.53988258 rogerkver 445
This order has been at the top of my Purse filter for weeks. https://purse.io/earn/bch#country=US
The total is $80.72 for three t-shirts.
When you get to checkout with the gift registry address selected, the order total is $85.27 instead, and you can't even order the t-shirts because the order is set-up incorrectly:
"We're sorry. This item can't be shipped to a Wish List or gift registry address." (red text)
I've accepted and cancelled this order many times, over the weeks. I've put the info in the comments box about why (too high of actual price, and unable to order).
This still shows-up in my Purse list, even though sometimes it is greyed-out.
It's happened in the past for a day or 2, but somehow those orders have usually gone away. There seems to be no algorithm/system/auditor checking Purse to see why people are cancelling orders. Also, how hard would it be to have a bot simulate an Amazon order, compare it to the price entered by the prospective Buyer, and cancel the order if they don't match?
This makes me use Purse.io less, because there seems to be less and less support. I've had my issues over the years, but I've always had timely support by staff, and I've never been scammed (I also am very cautious and only fulfill certain orders).
Anyone speculate or give actual feedback on why Purse seems forgotten in the past couple months? I really want Purse to succeed, but failing at basic things is pretty weak-sauce after being around for several years. Do we need new staff, more staff, a better supervisor, a rival site...what?
Happy 2023 to my favorite r/btc sub by the way, belated!
Is it a good thing that ReadCash has stopped paying writers?
Revolutionizing Payments with BCH: Paytaca's Mission to Bring Decentralized Money to the Masses
What is Bitgree and how does it work? (project under development based on BCH)
Boosting Reputation and Credibility with CASH ACCOUNTS in the Bitcoin Cash Network.
CashTokens: The Next Step for Bitcoin Cash decentralized applications - explore also business and services possible using the tech
The Journey to a Cashless World: The Story of the Bitcoin Cash Podcast
General Protocols: Navigating the Shift to Programmable Money and DecentralizedFinance on BCH
Understanding CashFusion: the Privacy-Focused Bitcoin Cash Solution
Unleashing the Potential of the BCH Ecosystem with CashTokens
3AC and Coinflex founders complete raising $25M for new scam exchange. Are investors this stupid?
An Open Letter to the BCH Community
Elbitcoin.org - providing the Spanish community with resources to learn and discuss about Bitcoin
Education and Community building - Essential steps for BCH's Growth
Network effect - the Importance on the Bitcoin Cash ecosystem
(5) In-depth Look at the Importance Of content creators in spreading The word About BCH
JACK MALLERS: Bitcoin Lightning Network Going Mainstream?!
Satoshi's creation - More Than Just a decentralized P2P money
(8) ways To Grow a Local BCH decentralized Economy
The Government through the Central Bank is currently at the pinnacle of their manipulation. I have got big dreams and big plans for BCH to help the people and myself this year despite the limitations. If only this could work, and I hope it does.
Bitcoin Cash Mass Adoption – The African Continent Example
January 2023, 1st Update (of the year) about my house building using Bitcoin Cash
Bitcoin Cash shouldn't be A Legal Tender - Here's why (opinion)
Understanding CashTokens - What New the next May Upgrade will Bring To The DeFi BCH ecosystem
Funding with bitcoin - r/crowdfundingbitcoinHello guys, check out my subreddit. Join, help to grow the community, post your projects. I'm actually trying to raise funds myself for my AI assistant, no success so far 😅.
Best Practices to transfer long term storage from Trezor to ColdcardHi,
Moving from Trezor to air-gapped Coldcard. All BTC purchases sourced via KYC via exchanges. I'm going to use Sparrow + Coldcard and heard I should mix all UTXO before transferring to new wallet. Anything I should keep in mind / gotchas? For example:
1. Is it OK to transfer all at once to a mixing wallet, then mix to Coldcard? Or is it better to move it over in smaller increments?
2. What about pool size? Does it matter (i.e. is it better to use more/smaller pool sizes)?
3. Any other things I should be concerned with?
The end goal is to move all my long term storage BTC to the new wallet and have it be as clean as possible, following best practices. Thank in advance for any guidance you can provide!
​
I had one reply on another platform that stated "if you want to have it clean (my new wallet), don't mix it. some platforms will deny your coins if you use mixer if you want to sell them." So my original question stills stands... what are best practices when it comes to mixing & cold storage. Thank you!
Bitcoin Cash TV
### Bitcoin Cash TV is a new game streaming channel on Twitch! BCHTV is promoting Bitcoin Cash by giving it away to the audience with the power of [Cashrain.com](https://www.Cashrain.com/bitcoincashtv). Our goal is to get everyone on the planet onboarded with Bitcoin Cash with entertainment and social media. Please check it out, thank you!
[twitch.tv/bitcoincashtv](https://twitch.tv/bitcoincashtv)
Issues affecting merchants accepting Bitcoin Cash and how (Ideas) to overcome them
BCH Greater source Of P2P money - Ideas To Grow sTRONGER The Community
Flipstarter for Maintaining an active BCH article Library 24/7 launched
BCHBULL - Understanding Concepts About this BCH priceless app
Looking for the latest in BCH news? Lots of the community has migrated off of Reddit and onto Telegram and Twitter. Come find us!BCH Telegram group: https://t.me/bchchannel
BCH Price Talk: https://t.me/bchpricechannel
A selection of BCH-focused Twitter accounts:
- [@SatoshiAngels](https://twitter.com/SatoshiAngels)
- [@TheBCHPodcast](https://twitter.com/TheBCHPodcast)
- [@kzKallisti](https://twitter.com/kzKallisti)
- [@im_uname](https://twitter.com/im_uname)
- [@EmergentReasons](https://twitter.com/EmergentReasons)
- [@CheapLightning](https://twitter.com/CheapLightning)
- [@monsterbitar](https://twitter.com/monsterbitar)
- [@bitjson](https://twitter.com/bitjson)
- [@GeneralProtocol](https://twitter.com/GeneralProtocol)
- [@BCH_BULL](https://twitter.com/BCH_BULL)
- [@FloweeTheHub](https://twitter.com/FloweeTheHub)
- [@joemar_taganna](https://twitter.com/joemar_taganna)
- [@\_paytaca\_](https://twitter.com/_paytaca_)
- [@FiendishCrypto](https://twitter.com/FiendishCrypto)
- [@TheNudge4](https://twitter.com/TheNudge4)
- [@bch_nigeria](https://twitter.com/bch_nigeria)
- [@BCHArgentina](https://twitter.com/BCHArgentina)
- [@BCHdotgames](https://twitter.com/BCHdotgames)
- [@_minisatoshi](https://twitter.com/_minisatoshi)
- [@be_cashy](https://twitter.com/be_cashy)
- [@Jessquit2](https://twitter.com/Jessquit2)
- [@bchsunny](https://twitter.com/bchsunny)
- [@TheBitcoinJason](https://twitter.com/TheBitcoinJason)
- [@BCHCityOfficial](https://twitter.com/BCHCityOfficial)
- [@GeukensMathieu](https://twitter.com/GeukensMathieu)
- [@RadicalRomit](https://twitter.com/RadicalRomit)
- [@alberdioni8406_](https://twitter.com/alberdioni8406_)
First Coffee shop accept BCH in South Taiwan kaohsiung city📷[youtu.be/XhlpIZXgZOc](https://t.co/JotkmoDyc4)
We're all satoshi.
Memo.cash - decentralize Social media Platform built on Top Of Bitcoin Cash Explained
Let's Continue BitcoinCash Adoption In Nigeria: Support our Campaign *we decided to restructure and slipt our 2023 campaign into favourable milestones, so as to keep us going towards our Goals for the year....*
[*https://bafybeicrvznecj5ccr3njc53agoezymf56syl7l3mfuodro743u22unn3a.ipfs.flipstarter.me/*](https://bafybeicrvznecj5ccr3njc53agoezymf56syl7l3mfuodro743u22unn3a.ipfs.flipstarter.me/)
Here is all that we've worked on / ongoing Programs / Projects if you love what we are doing and will love to see us continue on this journey of Spreading Bitcoincash Education / Adoption in Nigeria. Support the campaign ...
An overview of our Previous year and works completed / ongoing: [https://youtu.be/6MmQRPrbkU0](https://youtu.be/6MmQRPrbkU0)
Bitcoin cash Nigeria: [https://bch.ng/Projects.html](https://bch.ng/Projects.html)
Below is an archive of our Previous campaign in detail: [https://bch.com.ng/](https://bch.com.ng/)
BCH Explore Youtube: [https://www.youtube.com/channel/UCEAW3cYj4I4sDx0pm0Nm6pA](https://www.youtube.com/channel/UCEAW3cYj4I4sDx0pm0Nm6pA)
BCH EXplore Twitter : [https://twitter.com/BCHExplore](https://twitter.com/BCHExplore)
BCH4GOOD :[https://bch4good.com/](https://bch4good.com/)
BCH4GOOD Twitter: [https://twitter.com/BCH4GOOD](https://twitter.com/BCH4GOOD)
Paysat Building on Peer-to-Peer Electronic Cash Coming Soon (Private beta: Your every day with Bitcoincash, we are building this platform for the African market : [https://drive.google.com/file/d/15F4kwNXZveL-Cv166VBqJ9-fm3n51MdP/view?usp=share\_link](https://drive.google.com/file/d/15F4kwNXZveL-Cv166VBqJ9-fm3n51MdP/view?usp=share_link) )
Paysat Twitter : [https://twitter.com/Paysats](https://twitter.com/Paysats)
BCH HUB : [http://hub.bch.ng/](http://hub.bch.ng/)
BCH HUB Location : [https://goo.gl/maps/ngoUgJkWSoyBVyGD9](https://goo.gl/maps/ngoUgJkWSoyBVyGD9)
BCH NG in Pictures :[https://photos.app.goo.gl/G4U6mydMDhCpUaYB8](https://photos.app.goo.gl/G4U6mydMDhCpUaYB8)
Peer-to-Peer Electronic Cash Festival: [https://youtu.be/dQ1LGKsUZgs](https://youtu.be/dQ1LGKsUZgs) ([https://photos.app.goo.gl/s9Qfa4AR7eYrL4eo7](https://photos.app.goo.gl/s9Qfa4AR7eYrL4eo7))
Thanks to very everyone in the community , for their Support , Lets Spread the peer to electronic cash and more Economic freedom to the world ... Lets do more 2023
Creating Tokens on Bitcoin(BTC) using OP_Return, Smart Contract Treasuries and Distributed Bots Secured by DRMHi, r /btc, I'd like to share with you a concept I created for designing de-fi systems that function on Bitcoin Layer 1, no side-chain or forks required. Hope you like it :)
The system described in this post is called "Peng(o)". This post outlines how Fungible and non-fungible tokens (Similar to ERC-20 and ERC-721 on EVM chains with a few improvements) can be created and managed on Bitcoin BTC while preserving the security of its users. This would allow the creation of secure stablecoins using the trustless TeF algorithm (not an external data source). With non-fungible tokens it will be possible to create subscriptions, reoccurring payments, on-chain escrows and trust funds.
Peng is designed in such a way that it would be impossible to "hack" a token or have special privileges that would allow "rugpulls" to occur.
The system is purely in its design phase. Peng is open source; Apache 2.0, DRM is only used to secure post-genesis versions of node software.
Creating L1 Tokens on Bitcoin will require three things;
1. OP\_Return
2. Smart Contract Treasuries
3. Distributed bots
OP\_Return
[https://i.ibb.co/CtXy6PB/OP-return-Peng-bitcoin-btc.png](https://i.ibb.co/CtXy6PB/OP-return-Peng-bitcoin-btc.png)
An "OP\_Return" is a message in a transaction output as seen in the example above, OP\_Return is used to create a new "account" within the distributed Peng Network, the bots read all associated OP\_Return transactions sent to the Peng(o) multi-sig address and use that as an account list.
In the above example we can see a line for "variables", the variables are an "internal ledger" or json directory stored within the distributed bots that hold the user's actual balance.
[https://i.ibb.co/WW2dNzp/Peng-o-OP-return-example.png](https://i.ibb.co/WW2dNzp/Peng-o-OP-return-example.png)
So what the user does when they need to deposit for the first time is interact with the web app, which will request a digital signature to prove that they own an account, this signature plus the randomly generated code issued for encryption is stored on the OP\_Return itself.
The user would then need to send the required fee to create the OP\_Return to an address controlled by the distributed bots. While also sending the desired amount for deposit to the treasury multi-sig, the transaction is expected, so even before it is confirmed on the blockchain the bots will update the user's balance in the internal ledger and the user can begin transferring to other accounts, but each deposit from an unconfirmed transaction is tainted in an "error chain", this means if the transaction is rejected or reverted; every subsequent transaction logged can be undone and redone without the tainted coins.
When a user has created their account they do not need to pay a fee to create a new OP\_Return message and can deposit freely, this is because the OP\_Return stores a static account and does not need a new message on-chain to update balances, balances are updated from within the internal ledger.
**Proofing**
[https://i.ibb.co/prTPVJQ/Peng-screen-3.png](https://i.ibb.co/prTPVJQ/Peng-screen-3.png)
Each transaction requires a proof, this shows that the user in question owns the address they want to transact with and is achieved through the use of digital signatures as seen above. The user is issued a code which they need to sign in their wallet, they present the output and it is corroborated with the public key and original code, this proves they are the rightful owner of the address.
The proof for each account creation is appended on the OP\_Return, and the proof for each transaction is appended to the json file within the bot (only the last 10 transactions for any account is logged, each transaction is sorted by "nonce" or number once, a simple way to count each transaction). Every internal transaction is public and auditable.
Smart contract treasuries
On Bitcoin(BTC) it is already possible to create smart contracts that obey simple parameters or rules, for example a user could create a contract that will send a specific amount of BTC to a specific address after a specific number of blocks have passed. How Peng incorporates this is that all funds are held within a "Treasury contract", this is a multi-sig address, which means six keys are required to pass a transaction, each of these keys represents a bot sub-group in the distributed network.
To expand on this; bots within the network are assigned sub-groups, each sub-group possesses a key which is created automatically post-genesis, meaning no one sees the keys before they are generated, the security of this is guaranteed in the heading further down; "distributed bots".
[https://i.ibb.co/y44NyRc/peng-o-token-format.png](https://i.ibb.co/y44NyRc/peng-o-token-format.png)
Tokens on Peng are similar to accounts, their creation is made on an OP\_return and their variables are stored within the internal ledger, multiple types of token updates exist, in the above image we see the most common which is a token\_buy, when a token is bought two updates occur; one for the user and one for the token account, this sends a certain amount of coin to the token's account while sending a certain amount of the token to the user's account.
Each user can only hold (4) tokens at a time, when a user buys a token for the first time what this does is add their public key to a token registry and the slot used to hold said token, this slot is then used for all future buys of the same token. The mechanism for this swap is single sided and not constant market, single sided means an enforced amount of token is swapped for a specific amount of coin, the impact of each buy is then recorded and used to update the price.
This means liquidity is not a pair, the liquidity for each asset is stored separately, ensuring that even if liquidity for one asset should drop significantly so long as there is enough for a particular trade it will enforce the correct price.
[https://i.ibb.co/qNYC327/Bitcoin-Total-transactions-vs-usd-price-logarithmic.png](https://i.ibb.co/qNYC327/Bitcoin-Total-transactions-vs-usd-price-logarithmic.png)
The use of this system to create stablecoins would use a static price in TeF, TeF is simply a data source gotten from the average transaction amount per block on the main blockchain then divided by 100,000,000, this becomes 1TeF.
TeF is correlational with the value of the main blockchain vs the greater commodities market because as more people buy the coin it becomes scarcer and therefore each transaction will have an average of fewer Bitcoin being sent, so in this way TeF is closer to the USD price of the chain while not being USD.
More information on TeF and its variants can be found on my medium; [here](https://medium.com/@genericmage1127/peng-protocol-test-by-finality-b0020bd1a949). Tokens pegged to TeF using the existing swap protocol will always trade at the exact TeF price.
Distributed bots
[https://i.ibb.co/bry3XFJ/Screen-3.png](https://i.ibb.co/bry3XFJ/Screen-3.png)
The Peng webapp and everything else managed by the network would be hosted by distributed bots, anyone can host a bot and receive rewards per transaction, transactions are randomly assigned to nodes in the network and make use of "absolute consensus".
This is possible thanks to the network's DRM software known as HYPR, HYPR prevents reading or writing of the node software by anyone but itself, it does this by embedding itself in the kernel and seizing control of the computer. When the computer is booted up, HYPR boots with it and runs a simple taskbar launcher which can be used to start or stop the bot.
Further details and protective measures for HYPR can be found [here](https://drive.google.com/file/d/1xBrDNQxqP5iHpVo4GBn3thxLeE2aa7OO/view?usp=share_link), and background for the protocol as a whole are expanded upon in my design for Peng(a), which is designed to work on BitcoinCash (BCH) and can be found on my medium; [here](https://medium.com/@genericmage1127/peng-protocol-peng-a-design-short-99dbdaa22597).
How this is an improvement over token swaps on EVM chains
A. Swap protocols on EVM chains typically use a constant market algorithm, this means the assets are paired and go up or down in value depending on which asset is more scarce. The problem arises in how price is calculated; total holders vs circulating amount vs liquidity, each buy is simply a transfer, each transfer is also a buy, each time a token is transferred it is recorded as purchase, this means if someone were to distribute the token's supply to a large number of addresses this would greatly increase the price of the token. However, because those were not actual purchases; liquidity was not added, so there is a liquidity deficit. The image below illustrates that but in an extreme example;
[https://i.ibb.co/j88CM3v/mcap-Market-Cap-Coinlist-Rug-2.png](https://i.ibb.co/j88CM3v/mcap-Market-Cap-Coinlist-Rug-2.png)
The ERC-20 token shown above was distributed to millions of addresses, thus its circulating supply and number of holders made it seem more valuable than it actually was, this exploit can and has been used to "game" the constant market system. Peng solves this.
B. Users cannot pull liquidity; this is because liquidity on Peng is a network primitive and not a token standard that can be customized, When users create a token its supply is not active until adequate liquidity is reached; this is; preset supply of the token multiplied by the preset price. Once liquidity is added the deployer still has to buy the token same as everyone else. The incentive for creating a token are the fees taken on each transaction which cannot exceed 5%, though fees are only paid out once liquidity is above 105% of the price multiplied by supply, each fee below that is instead used to refill the liquidity pool.
C. Users cannot define special privileges on the Peng Main-network, this means a user cannot "hack" a token using a backdoor, because there is no backdoor. However because it would be possible to create sub-networks using Peng(o) multi-sigs that can in turn have their own internal ledger, it would be possible for someone to create a webapp where there are backdoors that allow rugpulls, but the user would have to be lured to such a site in the first place, sub-networks are not shown on the main-network in any fashion.
With that said I will conclude the post here, thank you for reading, I do require assistance with implementing Peng, if you have any critique or recommendations please let me know below.
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