Emercoin vs Ethereum and comparison of private and public blockchains
Emercoin is not only one of the world's leading digital currencies, but also a distributed trusted information system. On the basis of the Emerging blockchain platform, many projects have been created that have proven their profitability and success - just complete this article to the end, paying attention to examples of projects implemented on the basis of Emer. Over the past year, the Emercoin team has repeatedly received proposals to create either new public blockchains based on the Emergency platform platform or private blockchains on the same platform. But neither one nor the other idea can be called successful. The Emer team boldly states that the private blockchain is originally a mertorn-born project, and the forks (their own public blockchains on the finished platform) are not very promising.
Read more about this in the article by Emercoin CTO Oleg Hovayko, written specifically for the cloud mining blog HashFlare on Geektimes.
Private blockchains have been around since 1980. One of the first mentions can be found in Bruce Schneier’s Applied Cryptography, Section 4.1, on Surety Technologies’s time stamp system. I wonder if anyone knew about the existence of the blockchain before reading this article? And if for almost 40 years no one in the world has succeeded in creating private blockchains - you have to be a big optimist in order to count on a different result. Do not think that everything will be easy and simple for you. Let's try to figure out why we are not aware of successful projects of this kind.
')
The idea: to create a private blockchain, transactions in which will be available only to a limited circle of participants.
Solution: the blockchain is, by definition, an open database, and each node in the network has its full copy. Open data access is required to verify, add, or reject new transactions. Thus, an unencrypted copy of the blockchain is stored with each network participant. It is necessary for the system to “leak out” in one place, as the entire transaction database, along with its history, will be completely merged. And the wider the network, the more people have access to the blockchain, which means that the chance that the blockchain will be compromised increases.
To ensure privacy, you need to restrict access to information, that is, to make a server that will give only the necessary information on requests and only verified clients, and not everything and everyone. And this is not a blockchain, but something else.
The idea: to create a private financial blockchain, in which only privileged participants will have access to the coins.
Solution: it is technically possible to create such a solution. Transactions will be signed by some kind of certificate issued by the authorization center. Consequently, a centralized system is formed, access to which is controlled by the target audience. The compromise of this center will automatically lead to the compromise of the entire network, which again levels the idea of ​​the blockchain. And such a compromise is a reality: remember the history of the company DigiNotar or sold in the markets of the traffic police base, the tax service.
And it is obvious that an effective solution will be the base of a centralized server with regular backups, when the owners of the server can control the participants.
The idea: to create a public blockchain, which everyone has access to, but not all can mine (mint) new coins, but only verified agents.
Solution: theoretically it is possible, but it will be necessary to somehow restrict access, for example, by means of certificates or digital signatures. And here there are several problems:
In general, such a potentially vulnerable architecture can only be used to build a financial network to pay for school lunches within the same school, and nothing more.
The idea: to create a blockchain currency for a particular country. At the same time, it is necessary to give the central bank the following opportunities:
Solution: if you create such a control lever, then sooner or later, it will be used.
Management sanctions or abuse of authority, there is always a reason. For example, owning the appropriate keys - will transfer into your account a billion coins, and run away to another country.
And it turns out that the credibility of such a blockchain will not be higher than the confidence in the corresponding central bank. More precisely, even lower, because blockchain transactions are non-cancellable.
In general, attempts to make a limited blockchain lead to the fact that, along with public access, public trust flows from it. A dummy remains from the blockchain - something like a dried shell from a cicada. That is, in such a blockchain participants will have to drive from under the lash. The threat of simultaneous collapse will be constantly present.
Historical experience confirms these theses. Only open and public blockchain is successful. Blockchain without limits.
The idea: to make a fork, that is, another blockchain on our technologies, but with other coins and independent of us.
Solution: the creation of a fork is initially a rash step, but not everyone can be persuaded. Therefore, sometimes, for a fee, Emercoin makes forks.
The board consists of three parts:
The financial success of such forks is small. It is no better and no worse than countless hosts, abandoned Bitcoin forks, of which there are hundreds. Examples offhand: Copperlark (CLR), Joulecoin (XJO), Photon (PHO). Attempting to make a new fork is like drawing a green circle and trying to sell it at the price of Malevich’s Black Square.
The history of the Auroracoin (AUR) coin is also indicative. The organizers of the project made a payment system with a large pre-mein. Artificially supported the stock price corresponding to the Icelandic krone, and distributed coins to all residents of Iceland in the hope that people would use these coins along with kroons, and a crypto-economy will appear in a single country. We did not have to wait long for the result: people immediately sold their coins for kroons, thus emptying the course support fund, leaving the project organizers to manage the discounted coins at their own discretion.
The meaning of creating your own fork is to initially deposit coins into your pocket for free, and then raise the price and get super-profit. Other reasonable reasons are hard to find. People will start using these or other cryptomonettes only at the moment when they completely trust the system. And for this, several conditions must come together:
Naturally, Emer has these properties.
So, you decide to create your fork and a new coin. Consider the pros and cons of this step. Compare the use of your coins with the coins of Emercoin:
Blockchain Emer was created as a platform for technological applications, while retaining all the advantages of a Bitcoin-like payment system. Blockchain Emer can be used both for storing and shipping credit units (coins), and for non-monetary services.
Emer is often compared to the Ethereum platform. They focus on smart contracts, going beyond the usual payment system. Emercoin is not a direct competitor to Ethereum. Our goal is industrial applications where reliability and stable work are first required, and only then untested experimental innovations. Consider the differences between Emer and Ether:
The Emer system was initially created as a universal blockchain platform for both financial payment and non-monetary applications.
Financially, Emera’s functionality is similar to Bitcoin and other cryptocurrencies, with minor differences. We will not dwell on the differences, but focus on unique services specific to the Emer. Platform.
The following non-monetary services have already been created and are in commercial operation. This distinguishes the Emer platform from many other platforms that mostly trade in promises.
EMCSSH is a worldwide public key infrastructure for managing distributed networks.
Thanks to the storage of public keys and access control lists, the administration of networks in the blockchain is more secure and convenient. This completely eliminates the possibility of the common man-in-the-middle (MIM) hacker attack, and the problem of the “unified administrator” is also solved.
Publications:
Under the hood Emercoin. Part 3. emcSSH. Worldwide public key infrastructure .
Emcssh - simple digital key management .
Applications:
HashCoins - management of an array of servers in their data centers.
Emercoin - project infrastructure management.
EmcSSL is an extension for standard user protocol SSL. Stores digital fingerprints of user certificates in the blockchain. Authorizes users and makes access to remote sites fully secure.
Emc InfoCard are electronic business cards that are stored on the blockchain and can be associated with EmcSSL client certificates. Allow you to structurely store any information about the user, which adds convenience when visiting multiple sites.
Publications:
Under the hood Emercoin. Part 4. emcSSL. Decentralized password-free security system .
So Long Passwords? Cryptocurrency EmerCoin's Block Chain Supports Passwordless Authentication .
Applications:
Emercoin - login to pool.emercoin.com
Emercoin - login to the emercoin.mintr.org/wallet online wallet
EmcSSL-> oauth2 gateway: authorizer.io
The performance of distributed networks of organizations connected via the Internet may be disrupted due to failures or malicious attacks on the centralized domain name system (DNS). The alternative domain name distribution system emcDNS removes the dependence of the network on the public DNS, which makes the network almost invulnerable. Blockchain-based DNS allows you to avoid blocking Internet resources, as well as various kinds of DDOS attacks.
Publications:
EmerCoin: decentralized alternate cryptocurrency based DNS .
Failsafe telephone network based on the blockchain
Decentralized uncensored domain name system .
Applications:
FriGate plugin began to support the domain zones Emercoin
Many sites used the solution to protect against Roskomnadzor’s locks.
This service can be used to confirm the rights to any type of property with unique numbers assigned to them: vehicle VIN numbers, land cadastral numbers, real estate cadastral passports, software license numbers and much more. When selling or transferring an asset, the owner automatically loses the rights of ownership, and it goes to the new owner.
Publications:
The final solution to the pirate issue .
Applications:
Shares of the farm village Kolionovo .
Protection against counterfeit watches "Rocket" .
HashFlare cloud mining supports Emercoin projects:
Read more about this in the article by Emercoin CTO Oleg Hovayko, written specifically for the cloud mining blog HashFlare on Geektimes.
Private and restricted blockchains
History reference
Private blockchains have been around since 1980. One of the first mentions can be found in Bruce Schneier’s Applied Cryptography, Section 4.1, on Surety Technologies’s time stamp system. I wonder if anyone knew about the existence of the blockchain before reading this article? And if for almost 40 years no one in the world has succeeded in creating private blockchains - you have to be a big optimist in order to count on a different result. Do not think that everything will be easy and simple for you. Let's try to figure out why we are not aware of successful projects of this kind.
')
Private blockchain to hide information
The idea: to create a private blockchain, transactions in which will be available only to a limited circle of participants.
Solution: the blockchain is, by definition, an open database, and each node in the network has its full copy. Open data access is required to verify, add, or reject new transactions. Thus, an unencrypted copy of the blockchain is stored with each network participant. It is necessary for the system to “leak out” in one place, as the entire transaction database, along with its history, will be completely merged. And the wider the network, the more people have access to the blockchain, which means that the chance that the blockchain will be compromised increases.
To ensure privacy, you need to restrict access to information, that is, to make a server that will give only the necessary information on requests and only verified clients, and not everything and everyone. And this is not a blockchain, but something else.
Private blockchain for exchanging money within a limited community
The idea: to create a private financial blockchain, in which only privileged participants will have access to the coins.
Solution: it is technically possible to create such a solution. Transactions will be signed by some kind of certificate issued by the authorization center. Consequently, a centralized system is formed, access to which is controlled by the target audience. The compromise of this center will automatically lead to the compromise of the entire network, which again levels the idea of ​​the blockchain. And such a compromise is a reality: remember the history of the company DigiNotar or sold in the markets of the traffic police base, the tax service.
And it is obvious that an effective solution will be the base of a centralized server with regular backups, when the owners of the server can control the participants.
Public blockchain with miner restriction
The idea: to create a public blockchain, which everyone has access to, but not all can mine (mint) new coins, but only verified agents.
Solution: theoretically it is possible, but it will be necessary to somehow restrict access, for example, by means of certificates or digital signatures. And here there are several problems:
- Based on the fact that the compromise of the authorization center leads to the compromise of the entire network, since the complexity of mining is low, we will inevitably face the fact that those who receive a certificate will be able to attract external mining power. And if they turn out to be much stronger than the current capacity of an artificially limited network, then certificate holders will be able to organize attacks, cancel transactions, and double spending. Essentially the same as in the previous example.
- A dishonest legal network participant may attract external mining powers - and the result will be the same. And the more such legal participants, the greater the chance that someone will be unstable.
In general, such a potentially vulnerable architecture can only be used to build a financial network to pay for school lunches within the same school, and nothing more.
Manifest public blockchain
The idea: to create a blockchain currency for a particular country. At the same time, it is necessary to give the central bank the following opportunities:
- to print money in any quantity;
- block other people's accounts;
- withdraw money from foreign accounts.
Solution: if you create such a control lever, then sooner or later, it will be used.
Management sanctions or abuse of authority, there is always a reason. For example, owning the appropriate keys - will transfer into your account a billion coins, and run away to another country.
And it turns out that the credibility of such a blockchain will not be higher than the confidence in the corresponding central bank. More precisely, even lower, because blockchain transactions are non-cancellable.
In general, attempts to make a limited blockchain lead to the fact that, along with public access, public trust flows from it. A dummy remains from the blockchain - something like a dried shell from a cicada. That is, in such a blockchain participants will have to drive from under the lash. The threat of simultaneous collapse will be constantly present.
Historical experience confirms these theses. Only open and public blockchain is successful. Blockchain without limits.
Own public blockchain against public blockchain Emer
The idea: to make a fork, that is, another blockchain on our technologies, but with other coins and independent of us.
Solution: the creation of a fork is initially a rash step, but not everyone can be persuaded. Therefore, sometimes, for a fee, Emercoin makes forks.
The board consists of three parts:
- for the fork itself;
- for the creation of infrastructure (seeds, explorer, pool, checkpoints)
- for maintenance - support both infrastructure and continued development of the system.
The financial success of such forks is small. It is no better and no worse than countless hosts, abandoned Bitcoin forks, of which there are hundreds. Examples offhand: Copperlark (CLR), Joulecoin (XJO), Photon (PHO). Attempting to make a new fork is like drawing a green circle and trying to sell it at the price of Malevich’s Black Square.
The history of the Auroracoin (AUR) coin is also indicative. The organizers of the project made a payment system with a large pre-mein. Artificially supported the stock price corresponding to the Icelandic krone, and distributed coins to all residents of Iceland in the hope that people would use these coins along with kroons, and a crypto-economy will appear in a single country. We did not have to wait long for the result: people immediately sold their coins for kroons, thus emptying the course support fund, leaving the project organizers to manage the discounted coins at their own discretion.
The meaning of creating your own fork is to initially deposit coins into your pocket for free, and then raise the price and get super-profit. Other reasonable reasons are hard to find. People will start using these or other cryptomonettes only at the moment when they completely trust the system. And for this, several conditions must come together:
- historically confirmed success of the project;
- the economy that uses these coins for some purpose;
- fully public blockchain without restrictions;
- the scattered distribution of coins in the masses;
- the ability to analyze the code on the subject of "bookmarks";
- the ability to build nodes independently from the source;
- fundamental absence of privileged financial participants.
Naturally, Emer has these properties.
So, you decide to create your fork and a new coin. Consider the pros and cons of this step. Compare the use of your coins with the coins of Emercoin:
| Act | Own coin | Emercoin |
|---|---|---|
| Creation of coins and infrastructure | Worth the money and time. Payments are non-refundable | Free and already |
| Support | Worth the money and time. Payments are non-refundable and regular | Free and already there, and will |
| Purchase a package of coins | Is free | Need to buy on stock exchanges, spend money. Return costs (see below) |
| Exit Project | All previously spent - spent forever, that is, fundamentally irrevocable | Sold bought earlier, returned the money. Even if you correctly navigate, you can go with a profit |
| Sell ​​coins | Impossible until you have developed the appropriate economy and created confidence in the coin. | There are exchanges where you can sell for USD / EUR / CNY / RUR, etc. There is confidence in the coin, and liquidity |
| Historical trust | No, it is necessary to turn out | Trust in both the project and the exchanges |
| Creating an economy | Create from scratch | Small, but there is and develops |
| The ability to exchange coins for goods and services outside your economy | Not. And you need to create | There is and is developing |
Emercoin vs Ethereum
Blockchain Emer was created as a platform for technological applications, while retaining all the advantages of a Bitcoin-like payment system. Blockchain Emer can be used both for storing and shipping credit units (coins), and for non-monetary services.
Emer is often compared to the Ethereum platform. They focus on smart contracts, going beyond the usual payment system. Emercoin is not a direct competitor to Ethereum. Our goal is industrial applications where reliability and stable work are first required, and only then untested experimental innovations. Consider the differences between Emer and Ether:
| Property | Emercoin | Ethereum |
|---|---|---|
| Smart contracts on turing-compatible code | Not. The inability to manage deferred payments. The impossibility of arbitrary malicious code, increased reliability. | There is. Flexibility in managing deferred payments managed by smart contracts. Architectural vulnerability. |
| Non-monetary applications | There are a number of external services discussed below. | Smart contracts only manage coins within their own blockane, and nothing more |
| Work in onboard systems | There is. Raspberry Pi Support | Not |
| Blockchain size | 0.5G | 30G |
| Capitalization | $ 7,600,000 | $ 1,000,000,000 |
| Historical Disasters | Not | The DAO, Ethereum Classic |
| Practical (non-experimental) applications | See service description below. | It is not known that anything really works |
| Code reliability | Proven Bitcoin code that withstood many audits and crypto attacks | His work, poorly proven |
| PoS mining | Was always | Already half a year as they add, the end is not visible. |
| Russian-speaking system core developers | there is | Not |
| Advertising, PR and external investments | Not | there is |
Emergency non-monetary services
The Emer system was initially created as a universal blockchain platform for both financial payment and non-monetary applications.
Financially, Emera’s functionality is similar to Bitcoin and other cryptocurrencies, with minor differences. We will not dwell on the differences, but focus on unique services specific to the Emer. Platform.
The following non-monetary services have already been created and are in commercial operation. This distinguishes the Emer platform from many other platforms that mostly trade in promises.
Emercoin Services
EMCSSH is a worldwide public key infrastructure for managing distributed networks.
Thanks to the storage of public keys and access control lists, the administration of networks in the blockchain is more secure and convenient. This completely eliminates the possibility of the common man-in-the-middle (MIM) hacker attack, and the problem of the “unified administrator” is also solved.
Publications:
Under the hood Emercoin. Part 3. emcSSH. Worldwide public key infrastructure .
Emcssh - simple digital key management .
Applications:
HashCoins - management of an array of servers in their data centers.
Emercoin - project infrastructure management.
EMCSSL + InfoCard. Decentralized password-free security system and electronic business cards
EmcSSL is an extension for standard user protocol SSL. Stores digital fingerprints of user certificates in the blockchain. Authorizes users and makes access to remote sites fully secure.
Emc InfoCard are electronic business cards that are stored on the blockchain and can be associated with EmcSSL client certificates. Allow you to structurely store any information about the user, which adds convenience when visiting multiple sites.
Publications:
Under the hood Emercoin. Part 4. emcSSL. Decentralized password-free security system .
So Long Passwords? Cryptocurrency EmerCoin's Block Chain Supports Passwordless Authentication .
Applications:
Emercoin - login to pool.emercoin.com
Emercoin - login to the emercoin.mintr.org/wallet online wallet
EmcSSL-> oauth2 gateway: authorizer.io
EMCDNS - distributed domain name system for creating highly reliable networks
The performance of distributed networks of organizations connected via the Internet may be disrupted due to failures or malicious attacks on the centralized domain name system (DNS). The alternative domain name distribution system emcDNS removes the dependence of the network on the public DNS, which makes the network almost invulnerable. Blockchain-based DNS allows you to avoid blocking Internet resources, as well as various kinds of DDOS attacks.
Publications:
EmerCoin: decentralized alternate cryptocurrency based DNS .
Failsafe telephone network based on the blockchain
Decentralized uncensored domain name system .
Applications:
FriGate plugin began to support the domain zones Emercoin
Many sites used the solution to protect against Roskomnadzor’s locks.
EmcDPO - digital proof of ownership
This service can be used to confirm the rights to any type of property with unique numbers assigned to them: vehicle VIN numbers, land cadastral numbers, real estate cadastral passports, software license numbers and much more. When selling or transferring an asset, the owner automatically loses the rights of ownership, and it goes to the new owner.
Publications:
The final solution to the pirate issue .
Applications:
Shares of the farm village Kolionovo .
Protection against counterfeit watches "Rocket" .
Services that are not yet widespread, but working
- EMCLNX - Peer-to-Peer Link Exchange Network
- EMCTTS - trusted time stamp
- EMCUDS - undeniable digital signature
- magnet - distributed torrent tracker
- ENUMER - distributed ENUM (rfc6116) for transparent end-to-end connection in IP telephony
HashFlare cloud mining supports Emercoin projects:
Source: https://habr.com/ru/post/370193/
All Articles