How to Install Blocksci and Trouble shooting it.

Installing Blocksci

https://citp.github.io/BlockSci/compiling.html

Requirements :

If you don’t have enough memory it won’t install easily and

  • Cmake version should be 3.9
  • GCC and G++ should be 7 version

Complete instruction to install Cmake 3.9, GCC, G++ :

https://gist.github.com/black13/5c951d3073f8f57e9efa8e1a874b25f1

If the official manual didn’t work you could follow the below steps:

  • sudo add-apt-repository ppa:ubuntu-toolchain-r/test -y
  • sudo apt-get update
  • sudo apt install libtool autoconf libboost-filesystem-dev libboost-iostreams-dev
    libboost-serialization-dev libboost-thread-dev libboost-test-dev libssl-dev libjsoncpp-dev
    libcurl4-openssl-dev libjsoncpp-dev libjsonrpccpp-dev libsnappy-dev zlib1g-dev libbz2-dev
    liblz4-dev libzstd-dev libjemalloc-dev libsparsehash-dev python3-dev python3-pip
  • sudo apt-get install g++-7
  • install cmake 3.9 or higher instead of 3.5 (the cmake 3.5 version installed by apt-get install) (or follow this link to remove old version of cmake and get the new version.)
  • sudo update-alternatives –install /usr/bin/gcc gcc /usr/bin/gcc-7 60 –slave /usr/bin/g++ g++ /usr/bin/g++-7
  • git clone https://github.com/citp/BlockSci.git
  • cd BlockSci
  • mkdir release
  • cd release
  • cmake -DCMAKE_BUILD_TYPE=Release ..

Install make :

  • sudo make install
  • cd ..
  • sudo -H pip3 install -e blockscipy (this takes around 2 hours)

 

Installing Litecoin cryptocoin data and deploying its blockchain server in CentOS7

Installation
https://download.litecoin.org/litecoin-0.16.0/linux/litecoin-0.16.0-x86_64-linux-gnu.tar.gz

Download the above tar file and extract it using following commands
tar xvf litecoin-0.16.0-x86_64-linux-gnu.tar.gz

Starting a litecoin server
Here, first time you need to reindex the whole chain using -reindex command
First time command: ./litecoind –txindex -daemon -reindex

litecoind -server -txindex -daemon -rpc -rpcbind=0.0.0.0 -rpcuser=theone -rpcpassword=pass123 -rpcport=9332

The above command lets you to download the blocks continously and you can access the server private data using RPC API calls.

Stopping a litecoin server
litecoind stop
if the above command doesnt work
killall -9 litecoind

Litecoin reference (params)
https://litecoin.info/index.php/Litecoin.conf

It should automatically download the blocks in the root
/root/.litecoin/..

Will keep you updated with more commands.

 

Evolution of Cryptocurrency & Blockchain technologies in India

The year 2017 has been particularly interesting for the growth of cryptocurrencies in India. The people of India and the Indian market for cryptocurrencies appear to love them all the more. Now lets see how the cryptocurrencies and blockchain technology will emerge in near future in India.

JIO Coin :

Reliance JIO Planning to launch their own cryptocurrency because of Present trend Across World wide. The name for this cryptocurrency is Jio Coin, and this will help the customers to make digital payments very more comfortable.

According to latest News, JIO Launching JIO Coin very soon. For this jio coin ico project Mukesh Ambani’s elder son Akash Ambani taking leading for the Reliance Jio Coin project officially, Reliance Jio planning to build a 50-member team of young professionals to work on blockchain technology, which can also be used to develop applications such as smart contracts and supply chain management logistics.

What Will Be The Jio Coin Price In India ?

There are many rumors on the context of Jio Coin Price in India but still there is no any official announcement of jio coin. But as per the popularity of Jio, the expected price of the JIO coin is 1$ which equals to Rs 64 approximately in Indian currency.

How To Buy JIO Coins Online In India With INR & USD ?

As per the reports, Reliance Jio may launch their cryptocurrency on JioMoney app in which you will be able to buy Jio Coins Online using your wallet balance. But after few days, it might become available for purchase on popular exchanges like Bittrex, Binance, Koinex.

Blockchain in Banks:

As of 2017, 60% of financial organizations plan on using blockchain for international money transfers, security clearing and settlement and anti-money laundering services.

Two primary reasons that blockchain technology is going to revolutionize the banking industry in the next decade.

  • It’s far less expensive.
  • Transactions are significantly faster.

Blockchain would enable higher security and lower costs for banks to process payment between organizations and their clients and even between banks themselves. In the current reality, there are a lot of intermediaries in the payment processing system, but blockchain would eliminate the need for a lot of them. By using the proof of concept, blockchain was able to complete the transactions in just 10 to 20 seconds.

There’s a lot of paying fees and waiting for money transfers. Fees for Money transactions average around 10%, and the money transfer takes about one to two business days. Financial institutions spend a large amount just to keep up with KYC regulations.

For instance, blockchain technology would potentially remove any overhead costs for customer identification.  In a distributed ledger system, the customer identification is effectively performed by everyone on the network, simultaneously.

Most banking systems around the world are built on a centralized database that is more vulnerable to cyber-attack because it has one point of failure rather than many—once hackers breach the one system they have full access.

The blockchain is essentially a distributed ledger where each block contains a timestamp and holds batches of individual transactions with a link to a previous block. This technology would eliminate Fraud transactions.

Blockchain in SBI :

State Bank of India (SBI) will go in for full-fledged deployment of blockchain in its reconciliation, remittances and trade finance operations in FY19.

In February 2017, Bankchain, a consortium of banks led by SBI, was set up to work on developing blockchain-based solutions for banking in India. BankChain is a community of 27 banks from India and the Middle East. BankChain aims to reduce fraud and maximize efficiency, security & transparency in the banking systems.

Primechain Technologies operates the BankChain community  will deliver an enterprise blockchain solution that runs on Hyperledger Sawtooth and Intel Software Guard Extensions (Intel SGX).

The solution will help SBI to increase the efficiency of financial transactions without having to compromise on data confidentiality and transaction security.

Benefits of blockchain technology for banks :

The key benefits of blockchain technology for banks :

  • Less Expensive
  • Greatly improved security
  • Reduced infrastructure cost
  • Greater transparency and auditability
  • Real-time automated settlement.

IBM Blockchain Technology

IBM Blockchain Technology

Now-a-days Business networks are inefficient because all participants in the business network maintain a ledger of all transactions that take place in the business. This process seems to be inefficient due to its cost. This process is expensive because of duplication of effort and intermediaries adding costs for their services.

One solution to this problem is blockchain, which provides a shared ledger technology that allows any participant in the network to see the one system of record, or ledger. By using blockchain technology, businesses can benefit from a more efficient transfer of goods and services.

The following videos in the next module describe business networks and transactions, the problems that blockchain can solve, what blockchain is and how it works, and key use cases.

Shared ledger

A Shared ledger is a type of database that is shared, replicated, and synchronized among the members of a network. There is no central administrator or centralised data storage. All participants within a network can have their own identical copy of the ledger. Any changes to the ledger are reflected in all copies.Every record in the Shared ledger has a timestamp and unique cryptographic signature, thus making the ledger an auditable history of all transactions in the network.

With all transactions being added to a single public ledger, it reduces the clutter and complications of multiple ledgers.

Smart Contract

Smart contracts are self-executing contracts with the terms of the agreement between buyer and seller being directly written into lines of code. The code and the agreements contained therein exist across a distributed, decentralized blockchain network. Smart contracts help you exchange money, property, shares, or anything of value in a transparent, conflict-free way while avoiding the services of a middleman.

Because the rules are so secure and easy to follow, even simple devices like phones or locks can be programmed to obey what everyone has agreed to. And the way of doing this is strong enough that attackers or malfunctioning computers can’t break the rules that have been set up. As long as it’s built right, not even the person who makes the app will have the power to break the rules they agreed to.

Privacy

Privacy is of utmost importance at the Blockchain group of companies. Blockchain, and its encryption features allow high degrees of security and privacy.

Privacy in blockchain can be explained in 3 terms.

Privacy: Appropriate confidentiality between subsets of participants are secured and User identity not linked to a transaction by way of transaction history on the Blockchain

Fungibility: Every coin is worth the same value and is thus mutually interchangeable. No coin risks potential blacklisting nor debasement due to deprecating transaction history.

Decentralization: All nodes have equal power and control; there are no nodes that have more influence than others, i.e. masternodes. The currency is not created, maintained nor represented by any one person or company, i.e. a central authority

Privacy on Blockchain is one of the major features that attracts users towards the technology.Despite its decentralized nature and the ability for anyone to view every transaction or data transfer on Blockchain, encrypted communication prevents third party interference with messages sent across the technology.

Trust

Trust is the key element of blockchain technology. When transactions are executed and settled on a distributed ledger, counterparties don’t need to have an established trust relationship. If each participant in the transaction trusts the blockchain itself then they don’t need to directly trust each other.

In Blockchain community, each member maintains his own copy of the information, and all members can validate any updates collectively. The information could represent transactions, contracts, assets, identities, or practically anything else that can be described in digital form.

Entries are permanent, transparent, and search-able, which makes it possible for community members to view transaction histories. Each update is a new “block” added to the end of the “chain.” A protocol manages how new edits or entries are initiated, validated, recorded and distributed.

Crucially, privacy can also be selectively enforced, allowing varying degrees of anonymity or protection of sensitive information beyond those who have explicitly been given access. With blockchain, cryptology replaces third-party intermediaries as the keeper of trust.

Evolution of blockchain technology in bigger companies.

Economic experts projects the blockchain market could be valued at $400 million by 2019. For that reason, some of the biggest companies in banking industry and technology have entered into the space to evaluate how this technology could change the financial world.

IBM :

IBM and Linux, for instance, have brought together some of the brightest minds in the industry and technology to work on blockchain technology through the Hyperledger Project.

The Hyperledger Project is under the umbrella of the Linux Foundation and seeks to incorporate findings by blockchain projects such as Blockstream, Ripple, Digital Asset Holdings and others in order to make blockchain technology useful for the world’s biggest corporations. IBM has also contributed its own code to the project. Currently, IBM employees were working on crypto-security and distributed systems.

For more details on IBM-Blockchain visit : https://developer.ibm.com/blockchain/

Microsoft :

Microsoft Corporation started their blockchain journey in November 2015. Microsoft actively identifies existing technology gaps with blockchain and helps organizations build durable enterprise-grade applications.

In May, Azure introduced a new blockchain framework to reduce the time and cost associated with blockchain Proof of Concept (PoC) projects. Microsoft identified that a significant amount of time (8-12 weeks) and cost (as much as $300,000) was involved in developing a blockchain PoC, and this was resulting in huge missed opportunity, and thus Microsoft has been working to overcome such challenges.

In another step to bringing blockchain to the enterprise, Microsoft unveiled the Coco Framework in August 2017. Coco Framework reduces the complexities involved in the development techniques while offering high-transaction speed (more than 1600 transactions per second), distributed governance and confidentiality—much needed ingredients for successful commercial adoption of blockchain.

Microsoft and Mojix collaborated to enable blockchain-powered smart contracts to create swifter supply chains that can lower overall business costs, foster closer cooperation and enhance trust among retailers, suppliers, and logistic partners. This was followed by its alliance with Tierion for a service that generates, manages, and validates attestations.

Read more about Microsoft Azure here : https://azure.microsoft.com/en-in/solutions/blockchain/

Samsung :

Seoul plans to first apply blockchain in municipal duties that actively collect private information of citizens. Samsung SDS has announced a lucrative agreement with the Korean government to create a new Blockchain technology-based platform for welfare, public safety and transportation by 2022. The hope is to increase transparency for the government services.

In May, it joined global blockchain alliance EEA, whose members include Microsoft and Intel, to spread blockchain use globally.Last month it applied its blockchain solution to local shipping firms for trials.

Samsung is now pushing for its security solution offerings, such as Nexledger and its biometric solution Nexsign. Last month, it announced the integration of behavioral biometrics into Nexsign through a partnership with BioCatch.

Read more about Samsung SDS here :https://www.samsungsds.com/global/en/solutions/bns/blockchain/Blockchain.html

how-to-Set-up-metamask-to-connect-blockchain-server-and-do-transaction

MetaMask is an Ethereum extension for your browser. It connects you to Ethereum applications (called dApps) easily and securely. MetaMask is also a digital wallet: you can store digital currencies in it and use it.

How to use MetaMask

1. Go to https://metamask.io/ and click on GET CHROME PLUGIN. Click on the ‘+ADD TO CHROME’ button to add the plugin to chrome.

 

2. The MetaMask plugin is displayed at the right top of your Chrome browser.

3. Then Scroll down and click Continue to agree with MetaMask terms of use.

4. It will ask to set a password. Fill in a strong password and click Create. Do NOT lose your password!

5. Safe your secret 12 word recovery key somewhere safe and click on “I’VE COPIED IT SOMEWHERE SAFE” to continue.

How to Buy Ether with Bitcoin in Metamask

1. Click BUY to buy Ether with Bitcoin or any other Altcoin

2. Now choose ShapeShift

3. Type BTC for Bitcoin, fill in your Bitcoin Refund address and click Submit.

4. Scan the QRcode or send Bitcoin to the displayed address to start the conversion. Note that the amount you can send can be limited.

Notes :

    • Don’t forget to unlock Metamask before using and lock it back immediately after using it (i.e. while still staying on the website where you used it). It will keep your data secure.
    • If you want to use MetaMask on a computer other than the one you installed it at, you’ll need the seed phrase to restore it. Also don’t forget about the password, you will need it to unlock the extension when you’re ready to use it.
    • If you want to install MetaMask extension on a new computer, use “Import existing DEN” button in create password step and follow the instructions.
    • MetaMask requires the permission to read and write to any webpage which is potentially risky.
    • As is always the case with Ethereum transactions, you will need some small amount of ether available in your MetaMask wallet to sign the transactions.
    • Better try with a small amount first and double check everything.

For more details : https://www.youtube.com/watch?v=2YeyTF5lalE

What is Blockchain ?

What is blockchain?

A blockchain facilitates secure online transactions. It is a continuously growing list of records which are linked and secured using cryptography. The records are termed as blocks and each block is linked to a previous block, hence the name blockchain.

A blockchain is a decentralized and distributed digital ledger that is used to record transactions across many computers so that the record cannot be altered retroactively without the alteration of all subsequent blocks and the collusion of the network. This allows the participants to verify and audit transactions inexpensively.

Process

The working process involves 3 components:

1) cryptography
2) a distributed network with a shared ledger
3) record-keeping and security.

1) cryptography
The main purpose of this component of blockchain technology is to create a secure digital identity reference. Identity is based on possession of a combination of private and public cryptographic keys.

The combination of these keys can be seen as a dexterous form of consent, creating an extremely useful digital signature which was technically known as the hash function.

2) a distributed network with a shared ledger
In its simplest form, a distributed ledger is a database held and updated independently by each participant (or node) in a large network.The distribution is unique: records are not communicated to various nodes by a central authority but are instead independently constructed and held by every node.

Once there is any change in records, the distributed ledger has been updated, and all nodes maintain their own identical copy of the ledger.

3) Record-keeping and security
When cryptographic keys are combined with this network, a super useful form of digital interactions emerges. The process begins with the sender taking their private key, making an announcement of some sort of the transaction that you are sending a sum of the cryptocurrency — and attach it to Receiver’s public key.A block – containing a digital signature, timestamp and relevant information – is then broadcast to all nodes in the network.

The type, amount and verification can be different for each blockchain. It is a matter of the blockchain’s protocol – or rules for what is and is not a valid transaction or a valid creation of a new block. The process of verification can be tailored for each blockchain. Any needed rules and incentives can be created when enough nodes arrive at a consensus on how transactions ought to be verified.

A common conflict is when multiple miners create blocks at roughly the same time.  Because blocks take time to be shared across the network, which one should count as the legit block? In bitcoin, the conflict is resolved by a rule called the “longest chain rule”.The ‘longest chain’ rule broadly says that as a participant, if you see multiple competing valid chains, believe the one with more blocks.

Features :
Trustworthy system:

Data structure build using blockchain allows users to make and verify transactions without a third-party involvement. This strongly reduces the risk of a backdoor transaction and unauthorized intervention.

  1. Transparency:
    The distributed ledger structure gives the control of all their information and transactions to the users. Changes to the public blockchain are accessible to all the members, thus creating a transparent system.
  2. Faster transactions:
    Blockchain transactions can reduce transaction times to minutes and are processed 24/7.
  3. Reduced transaction costs:
    A transaction system builds using blockchain eliminates third-party intermediaries and overhead costs for exchanging assets.
  4. Decentralization
    The greatest characteristic of a blockchain is basically its decentralized network. Decentralized technology allows us to store assets in a distributed network that can be accessed over the Internet.The owner has direct control over their asset through their private key.
  5. Immutability
    Once the data has been written into the blockchain, it is extremely difficult to change it back. It is not truly immutable but, due to the fact that changing data is extremely difficult and almost impossible, this is seen as a benefit to maintaining an immutable ledger of transactions.

Uses
Smart contracts :
Distributed ledgers enable the coding of simple contracts that will execute when specified conditions are met. Ethereum is an open source blockchain project that was built specifically to realize this possibility.

Digital identity :
Blockchain technology empowers consumers to control their own identity and share between trusted entities with their consent. Also, no single institution can compromise a consumer’s identity.

Governance :
By making the results fully transparent and publicly accessible, distributed database technology could bring full transparency to elections or any other kind of poll taking.

Protection of intellectual property :
Smart contracts can protect copyright and automate the sale of creative works online, eliminating the risk of file copying and redistribution.

Blockchain – loyalty and rewards :
Blockchain offers many benefits, including transparency and traceability of transactions. This will help banks and insurers to create a more captivating loyalty and rewards program that fits 24/7 performance management and enhances engagement.

Future Expansion
The Blockchain technology implemented to provide public ledgers for transparency and security, in order to resolve the issue of double billing on Bitcoin, is aggressively being developed for applications such as Bitcoin 2.0 and Ethereum to expand into other diverse fields beyond virtual currency.

Efforts are continuously be made to construct independent networks outside of the Bitcoin network. Recently, aside from the R3 CEV Consortium Private·Permissioned Blockchain, techniques such as Side-chain are being implemented to offer virtual currency and various autonomous asset issuing services.

In addition to competition from Ethereum and others, Bitcoin may soon be challenged by digital currencies issued by central banks. But whether or not Bitcoin itself survives these storms, one thing is clear. Blockchain technology is set to revolutionize international payments.