Topic: [ANN] ¤ DMD Diamond 3.0 | Scarce ¤ Valuable ¤ Secure | PoS 3.0 | Masternodes 65% - page 6. (Read 1260636 times)

DMD Diamond’s update for June


In June, the DMD Diamond technical team completed several development milestones. In this digest, we will cover the main points.
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🔹 We redesigned inter-node communication: we changed the mechanism of how nodes identify each other and exchange known peers, and check the correct network ID. We have also changed the node client version. By changing the node client, we have updated the consensus engine and made improvements to the block synchronisation and verification code in the alpha testnet.
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🔹 When implemented the improved handling of validator candidates and proofs against other networks’ clients’ spam.
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🔹 We made a plan to add another layer of robustness to the alpha testnet before launching the beta testnet, which will eliminate the small chance of a corner case in the network that could freeze the network.
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🔹 We made a plan for performance tests on the alpha testnet to see what performance  numbers would be able to generate.
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🔹 We developed "client whitelisting", which will only let native DMD v4 nodes exchange data on the network.
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🔹 We improved the identification and banning of dishonest peers to increase the network robustness.
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🔹 We found a new corner case that could lead to the network being stuck. A solution for this corner case was planned to be part of the next update, which we hope to be implemented in the alpha testnet.

Looking at the features of the DMD Diamond blockchain from the user’s perspective

https://dmd-diamond.medium.com/looking-at-the-features-of-the-dmd-diamond-blockchain-from-the-users-perspective-d36ec0fcf0c3

Problems of Proof-of-Work and why DMD uses Honeybadger HBBFT plus dPoS node election mechanics
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This year, the problem of electricity consumption for mining has become acute in the crypto market. Many users and experts are concerned about the degree of the negative impact of PoW (Proof of work) on the environment. Therefore, many projects abandon PoW and increasingly resort to the PoS system, which solves the existing problem. A new special variant of a dPoS like system is created by DMD Diamond in its v4 upgrade.
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In order to find out what is the advantage of the PoS system, you need to understand the principle of operation of both block creation algorithms.
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◼️ In the PoW system, the mining device (ASIC) finds the solution to the problem and broadcasts it to the network, where other miners check it. Once everyone agrees that the solution and the new block are valid, the node is rewarded. The main disadvantage is that everyone is working on the same puzzle, spending more power on it, and the reward goes to only one miner.
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◼️ In DMDv4, the system selects several validators to check and confirm new blocks. There is no competition for the primacy of the solution, validator candidates just wait for the algorithm to select them and the more user coins dPoS stake on top of them, the higher the chance to be selected is. The solution of cryptographic puzzles is removed, which means that there is no need for high power consumption. Instead, it’s replaced with a competition of stable reliable validator candidates that are trusted by coin owners to delegate their stake on top of them.
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Transaction processing in DMDv4 HBBFT is less resource-intensive, so anyone with a Linux server and static IP and at least 10000 DMD can participate in block verification via setting up a validator candidate. All others can easily do it via a dApp even with just 100 DMD participate via dPoS staking on top of candidates and it’s not needed to have a constant online device for dPoS staking. Energy consumption can be reduced by up to 99% as only really required work is done and not solving artificially increased energy wasting riddles.
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The DMD Diamond platform runs entirely on the PoS system, but with an improved DMDv4 consensus, where the maximum number of validators candidates is 438, and 25 of them are active at each 12-hour epoch. This level controls the amount of energy consumed and makes DMD safer for the ecosystem.
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Get rewarded for securing the DMD network without environmental damage via wasted energy with bit.diamonds

Stay tuned not to miss decentralized news with the Diamond DMD community!

more details can be found in whitepaper:
https://bit.diamonds/DMD_WP.pdf

Stay tuned to learn more!

telegram news channel:
https://t.me/dmd_coin

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Why is DMD Diamond a new "Phoenix of Crypto"?
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The DMD Diamond project has gone a long path of tweaks and updates since the launch in 2013. We have been building the project step by step, adopting different mechanisms and consensus, trying to create an ideal system for issuing coins and rewards.
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◼️ In the beginning, DMD had hybrid PoW/PoS mechanics. The start was great until the main developer left the project. This was a shock for the entire community.
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◼️ After a while, the team started looking for a new leadership, and thanks to the efforts of the team, DMDv2 was updated in a year. Diamond is switching to Groestl – a more efficient PoW mining algorithm. And only at the DMDv3 stage, the team implemented masternodes, which meant a complete transition to PoS and significantly speed up transaction processing!
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◼️ And after a long journey, we finally found what we were looking for for so long! We switched to the Ethereum code base and implemented the HoneyBadger BFT algorithm, where the throughput can reach over 400 transactions per second, where old blocks are not used and the dPoS algorithm is additionally implemented.
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Of course, we did not stop there, and we continued to look for new and better solutions for the DMD Diamond network. However, remembering where we started, how we fell and rose, we can conclude that this is not just a recovery from the bottom, but this is a path of complete rebirth!
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DMD Diamond is the phoenix of the cryptocurrency market! And we are glad that there are people who have gone this path together with us.
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Join the updated bit.diamonds platform, and build a new ecosystem!

Stay tuned not to miss decentralized news with the Diamond DMD community!

more details can be found in whitepaper:
https://bit.diamonds/DMD_WP.pdf

Stay tuned to learn more!

telegram news channel:
https://t.me/dmd_coin

newsletter sign up:
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 in case someone needs a new presync blockchain uploadet
https://mega.nz/file/gtZGRZSJ#4s6KnTETXWZeCagATwFpHue_w8YasPdjy2fvWODS_wc

also included in last github release:
https://github.com/DMDcoin/Diamond/releases/download/3.0.1.3/presync_chainstate_block_dmdv3_20210623.zip

Diamond DMDv4: what type of participation to choose?
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Over the years, Diamond DMD has managed to unite many crypto users on the platform, who contribute to the development of the project.
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The platform is powered by a PoS system, where each token holder can participate in the network and earn rewards. In total, there are three types of participation in the PoS system for the users:
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◾️ Diamond compatible wallet (member). It can be any wallet that supports custom Ethereum-like Networks and Walletconnect. This type of participation allows any DMDv4 token holder to participate in the staking and voting by electing the validator.
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◾️ Full node. The full node includes the EVM, the POSDAO codebase, and the full Diamond DMDv4 blockchain.
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◾️ Validator candidate node. A full node can become a validator candidate by installing the validator candidate software and locking a minimum of 10,000 DMD. The active set of Validators is selected once per epoch (12 hours) out of the valid candidates. The selected ones earn for themselves and all users who dPoS staked on top of the rewards at the end of the epoch. The main requirement for validator candidates is that the nodes must run on the Linux operating system that is properly configured and maintained (updated to latest software), have a static IP and a stable availability.
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Every user can choose the most suitable type of participation, depending on their technical base, the number of tokens held and the percentage of rewards they want to receive.
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Join the DMDv4 network and earn rewards without expensive equipment with bit.diamonds

Stay tuned not to miss decentralized news with the Diamond DMD community!

more details can be found in whitepaper:
https://bit.diamonds/DMD_WP.pdf

Stay tuned to learn more!

telegram news channel:
https://t.me/dmd_coin

newsletter sign up:
https://diamonds.us9.list-manage.com/subscribe?u=8f15ebfd0c305329a18cfe990&id=aaa4bb073e

DMD Diamond: history of creation


DMD Diamond  is one of the oldest projects, created in mid-2013 during an explosion of new coin creation, based on forks of Bitcoin.  DMDv1 combined the best from Bitcoin, Litecoin, Novacoin, Luckycoin, and Florincoin, a mix of industry-first blockchain solutions with Proof-of-Work/Proof-of-Stake algorithms for network security.
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In April 2014 a small team of developers evolved the code and adjusted the vision for the coin with the release of DMDv2, which was based on Mintcoin, repaired the PoS algorithm, and redefined the coin rollout from static rewards. When Masternode technology emerged as a potential platform for bringing Diamond closer to its goals by improving both functionality and utility value of the coin, DMDv3 moved to a third-generation PoS protocol, to mitigate some of the security shortcomings of previous PoS algorithms.
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Now with version DMDv4, we are realizing the vision of a cooperative consensus (HBBFT Honeybadger) which allows us to reach rapid throughput thanks to the advances in asynchronous consensus protocols and the inclusion of smart contract capabilities combined with a high degree of compatibility with the Ethereum ecosystem which creates fertile ground for business creation.
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During its evolution of the cryptocurrency market, DMD Diamond has undergone several significant changes in its architecture as a response to the constantly changing and evolving technology and market conditions. With hard work and a dedicated community, DMD Diamond remained for the majority of its existence one of the top 100 coins on Coinmarketcap.
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Follow our social media to be sure not to miss any important announcements:
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🔹Twitter: https://twitter.com/dmdcoin
🔹Medium: https://dmd-diamond.medium.com/
🔹Facebook: https://www.facebook.com/dmdcoin
🔹Reddit: https://www.reddit.com/r/dmd/

Importance of interoperability and Migration for dApps
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DMD Diamond has taken the approach that cooperation and interoperability across chains is a must for the sustainable and long-term development of the crypto industry.
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The interest in developing and implementing decentralized applications started its ascent in the early days of 2017, just about the time when the infamous bull run began. By definition, Interoperability means the situation when two or more characters, products, or infrastructures co-operate to share their characteristics.
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The biggest challenge to interoperability was the existence of many blockchain networks that all differed in parameters, such as consensus models, transaction schemes, and smart contract functionality.
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Interoperability among blockchains have huge benefits for the entire sector. Here are some of the benefits:
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— Smooth information sharing across participating blockchains
— Easier execution of smart contracts across blockchains
— Sharing of blockchain solutions and cooperation on the ongoing development for enterprises
— The possibility for IT staff to develop a deep knowledge of a few prominent blockchain standards instead of having a basic knowledge of many protocols
— Opportunity to develop partnerships within the blockchain ecosystem
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For that reason, the DMDv4 is being created as a system that is fully compatible with Ethereum, using Open Ethereum addressing systems and foundations, and running EVM apps according to the protocol standards. The result is that dApps can be easily migrated across chains.  Open Ethereum Client (formerly Parity) is included as part of the package for DMDv4. This is the most well-known and fastest Ethereum client and is robust and well-proven in the industry.

Stay tuned not to miss decentralized news with the Diamond DMD community!

more details can be found in whitepaper:
https://bit.diamonds/DMD_WP.pdf

Stay tuned to learn more!

telegram news channel:
https://t.me/dmd_coin

newsletter sign up:
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Dear DMD Diamond community!

For a few months, we are trying to push out content twice a week, and even if you have no time to contribute it in another way, you can help us a lot by sharing it on all channels we post on.

And now we really need your support, so we ask you to:
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— Share every post from our Facebook https://www.facebook.com/dmdcoin/

— Share every tweet from our Twitter https://twitter.com/dmdcoin

— Share every update from my Linkedin https://www.linkedin.com/in/helmut-siedl-58646092/

— Share every article from our Medium blog https://dmd-diamond.medium.com/

— Comment our postings on Bitcointalk https://bitcointalk.org/index.php?topic=580725.new#new

Help us become more visible! To make our investment successful all you have to do is spread the news!

The rest comes by itself! We care about the code — you care about more people discovering DMD Diamond!

Thanks for your support!
 

Subscribe to the official DMD Diamond channel in order not to miss any new important updates: https://t.me/dmd_coin

Me trading steadily along on Exmarkets.

Meanwhile, Bitcoin dominance has dropped under 50%. And lots of articles about energy efficiency in cryptos. Nice!

IndiaMikeZulu

EVM as a fast-throughput alternative
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One of the components of the DMDv4 blockchain that is going to be included is Ethereum Virtual Machine (EVM) based on Open Ethereum. The Ethereum Virtual Machine (EVM) is a powerful, sandboxed virtual stack embedded within each full Ethereum node, responsible for executing contract bytecode. Contracts are typically written in higher level languages, like Solidity, then compiled to EVM bytecode.
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This means that the machine code is completely isolated from the network, filesystem or any processes of the host computer. Every node in the DMDv4 network runs an EVM instance which allows them to agree on executing the same instructions.
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The EVM is essential to the smart contract Protocol. It allows anyone to execute code in a trustless ecosystem in which the outcome of an execution can be guaranteed and is fully deterministic executing smart contracts.
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In DMDv4 smart contract support based on EVM will be included so that existing smart contracts developed on other chains can run with just small adaptations on the DMD Blockchain. DMDv4 supports Solidity and other languages, similar as on the Ethereum blockchain. But faster transaction times and lower fees with the ability to run the same code on multiple chains is what represents DMDv4 as an appealing alternative to Ethereum.

Stay tuned not to miss decentralized news with the Diamond DMD community!

more details can be found in whitepaper:
https://bit.diamonds/DMD_WP.pdf

Stay tuned to learn more!

telegram news channel:
https://t.me/dmd_coin

newsletter sign up:
https://diamonds.us9.list-manage.com/subscribe?u=8f15ebfd0c305329a18cfe990&id=aaa4bb073e

How we deal with modern blockchain challenges

Despite the fact that the blockchain technology has great potential for the construction of the future internet systems, it is facing a number of technical challenges.
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Firstly, current consensus algorithms like proof of work (PoW) or proof of stake (PoS) are facing some serious problems. Moreover, Proof-of-Work is not adequate for fast and low-cost transactions.
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Also, Blockchains that want to provide themselves and the hosted projects with highly customizable on-chain logics need to support smart contracts.
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Many blockchain systems miss a true sustainable coin economic setup ready for centuries. A truly sustainable ecosystem needs to be built around a limited resource developed in a way that the resource can be “recycled” or is “renewable”. These challenges need to be addressed in blockchain technology development.
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The DMD Diamond team has always been committed to maintaining the best technology and ensuring that the coin holders are protected and that the DMD chain gains momentum and utility in the industry.

Being one of the oldest projects on the cryptocurrency market, DMD Diamond has undergone several significant changes in its architecture as a response to the constantly changing and evolving technology and market conditions.
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Check out our whitepaper how DMDv4 solve this challenges: https://bit.diamonds/DMD_WP.pdf

we work on brandnew client check whitepaper
high activity visible on github

for slack invite email [email protected]

I sent a message to join Slack, no response yet.
Most of the URLs are no longer functional & the wallet seems to contain outdated links, last release was in 2018, is this still alive?

Basic components of the DMD blockchain
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The current version of DMDv4 uses a suite of technologies that integrate the latest proven technologies, allowing for fast transaction times, full smart contract support, and on-chain governance. Let's take a look at the main component of the system that makes it modern and secure.
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Smart contract language support code is needed to create smart contracts (we support all languages that can be used on Ethereum, too). This solution allows the development of any kind of dApp that can be supported on the blockchain. Also, smart contracts are executed by a Virtual Machine that acts the same way as the Ethereum Virtual Machine (EVM). This way smart contracts written for Ethereum can easily be adapted to work on DMD Diamond.
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Node election logic, in this case, is based on PoSDAO for the selection of nodes for validation in HBBFT. The PoSDAO is what makes the blockchain work decentral by random rotation of power, staking upon different validators, and distributing rewards between the active participants. PoSDAO supports it via using the delegated weight (total staked coins on a validator candidate) to increase the chance that high trusted nodes (with many staked coins) get chosen more often.
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Blockchain consensus engine, in our case the Honey Badger Byzantine Fault Tolerant (HBBFT) protocol, determines the transaction validation rules. HBBFT is used in combination with a PoSDAO election of nodes for distributed and secure transaction validation.
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Blockchain full nodes serve as nodes responsible for creating transactions, writing data to the chain, storing data, executing contracts, and communicating with other nodes on the network. Our first node client will be based on open Ethereum but in theory, multiple node clients are possible as long as they follow the DMD Diamond v4 ruleset, they can act as node client.
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Wallets or APP clients which manage user keys to interact with the blockchain and may provide additional blockchain-based services including swapping, NFT mechanics, self-sovereign identity, etc. These clients with WalletConnect ability allow the interaction with the DMD Diamond staking dApp.

Stay tuned not to miss decentralized news with the Diamond DMD community!

more details can be found in whitepaper:
https://bit.diamonds/DMD_WP.pdf

Stay tuned to learn more!

telegram news channel:
https://t.me/dmd_coin

newsletter sign up:
https://diamonds.us9.list-manage.com/subscribe?u=8f15ebfd0c305329a18cfe990&id=aaa4bb073e

HBBFT: Dramatic increase of efficiency for DMD
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The DMD team has analyzed different consensus algorithms available today including one of the most promising developments, the Honey Badger Byzantine Fault Tolerant consensus algorithm to meet the market demands of speed and security.
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HoneyBadger proceeds in demand-driven block creation (as long as transactions waiting to be included in a block, the creation of the next block starts in 1 second after the last block is finished) with a new batch of transactions appended to the (shared) committed to log at the end of each cycle. In each cycle, nodes choose a subset of the transactions in their input buffer and provide them as input to a randomized agreement protocol. At the end of the agreement protocol, the final set of transactions for the block is chosen.
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The main benefits of moving to HBBFT are the following:
— Higher transactions per second, at least 400 TPS (20x the Ethereum speed)
— Increased robustness of the blockchain
— Dynamic block times implementation
— Immediate transaction completeness
— Censorship-resistant based on the consensus of all validators
— No empty blocks are produced. HBBFT approves blocks as quickly or slowly as needed for the blockchain
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After extensive research, the DMD Diamond team has determined that using HBBFT will dramatically increase the efficiency and improve the security of the DMD blockchain.  Faster throughput, higher security, dynamic block times, robustness, elimination of orphan blocks, and forking potential is what DMD v4 really needs to be a modern system.

Stay tuned not to miss decentralized news with the Diamond DMD community!

more details can be found in whitepaper:
https://bit.diamonds/DMD_WP.pdf

Stay tuned to learn more!

telegram news channel:
https://t.me/dmd_coin

newsletter sign up:
https://diamonds.us9.list-manage.com/subscribe?u=8f15ebfd0c305329a18cfe990&id=aaa4bb073e

Difference between DAO Governance and PoSDAO
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The acronym DAO stands for Decentralized Autonomous Organization. In simple terms, a DAO is an organization that is governed by computer code and programs. As such, it has the ability to function autonomously, without the need for a central authority. Through the use of smart contracts, a DAO can work with external information and execute commands based on them — all this without any human intervention. A DAO is usually operated by a community of stakeholders incentivized through some kind of token mechanism.
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The Proof-of-Stake Decentralized Autonomous Organization (PoSDAO) algorithm is designed to improve the decentralization of a consensus engine for public blockchains, based on a voting mechanism to elect the active nodes (validators) that participate in block creation. PoSDAO provides a leaderless structure that incentivizes validators to act in the best interests of the network.
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DAO Governance and PoSDAO are different things. DAO Governance is a smart contract powering the decision-making tool to vote over proposals, PoSDAO is an automated smart contract to support a fair and decentral election of active validators. Only validator candidates registered on the permissionless network can vote in the DAO, but coin holders can stake their DMD token with any validator candidate they choose and change their affiliation at any time, with the change taking place when the Epoch changes.
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The PoSDAO is what makes the blockchain work true decentral by random rotation of power, staking upon different validators and distributing rewards between the active participants, both stakers and validators. This allows us to reach rapid throughput thanks to the advances in asynchronous consensus protocols and the inclusion of smart contract capabilities combined with a high degree of compatibility with the Ethereum ecosystem which creates fertile ground for business creation.

Stay tuned not to miss decentralized news with the Diamond DMD community!

more details can be found in whitepaper:
https://bit.diamonds/DMD_WP.pdf

Stay tuned to learn more!

telegram news channel:
https://t.me/dmd_coin

newsletter sign up:
https://diamonds.us9.list-manage.com/subscribe?u=8f15ebfd0c305329a18cfe990&id=aaa4bb073e

Apparently your blockchain is corrupted use resync.
18. Q: diamond-info.github.io and restar blockchain

version   3.0.1.3

Hi ,my wallet is not syncing. any idea why? I will be thankful for any advice.