Bismuth - No ICO, No Premine and First Python Coin!
Lately we have loads of ICOs, many good and many crappy ones. Theres literally 100s of them and when i find something worth im trying to post about it.
But now this is another case. Bismuth is a fully new chain, build on Python, the coin had fair launch where people could mine it (and its still mineable), had no premine and just rocks as a concept.
What is Bismuth ?
So the dev (who is in crypto since long time) looked at all coins, took what was best in them and recoded everything from the ground with his base idea.
Bismuth is a decentralized transaction platform focused on modularity and open source approach. It comes with default decentralized applications and tools out of the box, not only to be used by everyone, but also to be hosted by anyone. These applications are supplied as interpretation engines, which prevents blockchain bloat. Inspired by Satoshi’s whitepaper, Bismuth also offers optional hyperblocks as a pruning mechanism, a system which greatly reduces disk space usage and increases execution speed.
On-chain messaging and data storage is available in both public and encrypted forms. Together with Tor support and transaction mixing decentralized application, Bismuth offers top-of-the-line privacy features.
Technology
So to note TOR is already implemented by proxy, it has Decentralized Applications creation option, right away there is free dAPPS to use: casino, pool, transaction mixer (for anonymity).
Trading
I was looking at this coin since some time but until trading began we couldnt know how its gonna be, especially that codebase is new. Cryptopia for now is the only exchange capable of adding it and seems floor is at 20 000 satoshi right now - which looks cheap for fully new code-wise coin and concept.
Chart also looks not bad.
Find Out More and Test
More info is on their website - http://bismuth.cz/
There is Windows and Linux wallets + online wallet.
If you want to test the network with a transaction you can try on my addy - 05a7c02546d24056d409c6d8c985190698014d98973337740869f5c9
and yes this is how addresses look like on this chain. I really like the project and i hope we will see less ICOs and more fair launches in future of crypto!
Follow, Resteem and VOTE UP @kingscrown creator of http://fuk.io blog for 0day cryptocurrency news and tips! |
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A lot of people might not realize the significance of a coin implemented in python. It's one of the first languages that programmers learn on, and for good reason: it's extremely accessible and easy to use. People don't write bots here on steem linked directly into the codebase.. what do they use? Python. Cheetah? Written in python.
I can definitely see good things in the future for python blockchains due to how accessible they will be to users, contract writers, and programmers. A lot of devs just copy paste the codebase of other coins and aren't familiar with the inner workings, but a full python implementation is extremely interesting.
Scripts and contracts right into the code. That plus no ICO? Definitely worth a look...
I made nice profit mining Bismuth!
::: ^ :::
Is it possible to mine it using my Macbook Pro?
yeah with whatever PC you want
Can you post an article regarding mining Bismuth?
First time heard of bismuth ,I should check them out 🙂
Agreed -- I've just discovered Bismuth, and the fact that it's written in Python is very attractive.
Except the issues of thorny scalability and speed... Not to bomb, just wondering how they solved that.
Most blockchains are not designed for speed, they are designed to be robust. You think 10 minute block times on bitcoin is fast?
Actually, even better; do you think 3 second block times on steem are fast?
Depends on your perspective. To us humans, 3 seconds is quite speedy. To a computer, regardless of programming language, 3 seconds is eternity. Python could handle 3 second blocks fine, assuming the programmer doesn't insert a time.sleep(3) in there somewhere. It might take a naive python implementation 200ms to process a block, where a C implementation can do it in 10ms. In the grand scheme of blocks, not a big issue.
We're limited by the speed of light distributing a block far sooner than we are at processing blocks on a machine. So in my mind it's a non-issue for blockchain style consensus model. Unless something is really wrong.
True, but what about witnesses?
For a record to be posted on the blockchain, witnesses have to come to consensus, no?
And for that the for loop needs to be inherently fast not to jam the transaction flow. Of course you can mitigate it by running delegated PoW/PoS, hence my question.
Like I said -- we're limited by the speed of light in distributing blocks far more than we are in machine processing time of blocks. Block processing is in the order high micro- to millisecond, where block propagation around the world is high milli- to full second. There's plenty of time to forgive processing language inefficiency. I say this with confidence as a) a computer engineer, and b) a witness here on steem. Latency is the biggest issue for consensus!
If you want to reeaaaally did deep in to what takes longer on python compared to C, you'll find a second non-issue. The stuff that takes the longest amount of time in block processing is transaction verification, which is cryptography. Guess what? Python can call functions in libraries that are actually implemented in C. So, for the biggest bottleneck, you'll get the almost the exact same performance.
At the End of this year in concurrency, one of the biggest and first ever coin called Bitcoin will go up to near $26000 because it is quite predicted and chances are going in favour of this prediction because this is 2nd 4 years count according to the creation of bitcoin.
Python is a great programming language! I'm glad that it became more often used in the field of blockchain and cryptocurrency.
btw, just curious, anyone knows what the the most commonly used language among all the coins currently out there? C ?
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Check out the Bismuth documentation at http://bismuth.cz/doc/
thank you for the documentation
wow, this one looks really nice. good to see a python blockchain
That’s interesting
I will research this more. thnx for the heads up
good idea. Need more detail info.
Many thanks for this article, I'm really glad people like the concept
There is one thing I'd also like to mention especially here on Steemit.
Recently there has been quite a lot of discussion about Smart Media Tokens
We're planning to implement similar feature into Bismuth:
The initial 2017 roadmap has been almost completely finished and updated in September — Bismuth will have it’s own on-chain language, which will enable generation and transfer of secondary tokens for everyone, and eventually execution of smart contracts as we know them.
Here is an interview with lead dev .
Cheers
This comment has received a 0.49 % upvote from @booster thanks to: @khaaaarl.
be cautious in investing
you dont have to invest, you can ie mine it, its CPU based
Will it also need extra mining hardware like bitcoin needs. Is it possible to mine with pc?
No extra hardware, it is ASIC resistant.
You can mine in any PC using CPU, so far.
GPU mining will be implemented in future.
Which will render CPU mining almost pointless, so mine while it is still profitable.
Profitability calculator will also be available soon.
Cheers
so how do i mine this please?
https://www.reddit.com/r/cryptobismuth/comments/73ujru/resources_for_mining/
Always love your posts @kingscrown and the 20,000 satoshi is quite cheap especially when you can get it for free using faucets. Not harm in trying and no loss especially when using the information you gave and how to get free satoshis. I will give it a try and that will be my first trading experience.
This looks promising from a dev point of view.
The rest is up to the market adoption now. I'm all for free and fair token distribution.
This looks hot. Let's steem and resteem it. ;)
(I'm new here do people say that?)
Decentralized currency is definitely a boost to the economy and for self earning. What concerns me is the governments. As they are used to centralized systems. Do the government have the power to ban such currencies completely? Requirement of mining hardware requires initial good investment though
They do not have the man-power to stop cryptos and Decentralized apps. They would have to raid EACH node (Miner) on the network, SIMULTANEOUSLY.
For this they will need a person at everyone's house, at a specific day/time. Which is impossible. Yes there will surely be some conflicts when the Governments try to come up with new ways to make money.
But at the end of the day, its up to the people, whether of not they want to use cryptos/dapps/DAOs.
Goverments (i'm primarily speaking from EU point of view) are actively working on ICO - BC regulations. The lack of correct financial instrument or financial definition is letting ICO's blossom in status quo atm, but this will change in couple of months.
You mean the same government(s) that can't even stop drug trafficking, money laundering, prostitution, etc.?
Haha people say many thing :) Thanks for resteem!
You're welcome
Interesting, thanks!
Why is this tagged "Bitcoin" when it is nothing about Bitcoin?
It's tagged Bitcoin so that you could find it easily.
And you're here now. And now you know about Bismuth. You should be thankful I guess.
also it trades vs BTC mostly :)
how would i resteem this post please.. am kinda just getting in here, would not use the word "new" hehehe