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Author Topic: [ANN] [Sapphire] [SFRX] [POW] sidechain [DEX] with quantum swaps 5 sec BTC  (Read 2171 times)
osoese
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November 05, 2018, 07:56:21 PM
Last edit: May 30, 2019, 03:54:02 PM by osoese
 #1


AIRDROP SNAPSHOT ANN ** CHAIN IS NOT LIVE YET
Information in this ANN will change
There are placeholders in this ANN with EGEM info


EGEM Sapphire - SFRX
https://egem.io
https://bitcointalk.org/index.php?topic=3167940.0
----------------------------------------------------------------------------

EGEM Sapphire is an integrated substructure containing a decentralized exchange and enhancing other technologies on EtherGem's main chain. EGEM holders will be airdropped 2 SFRX for each 1 EGEM recorded in their wallets at EGEM snapshot block 1530000. SFRX will use the same EtherGem wallet for coins making balances seamless between the two EtherGem chains. SFRX is POW and will be independently or dual mined (complimentary) with EGEM.

Post about the Quantum Swaps ...or "5 second bitcoin" https://bitcointalk.org/index.php?topic=5063954.msg50102796#msg50102796

----------------------------------------------------------------------------

Check Your Snapshot Balance: http://egem.io/

----------------------------------------------------------------------------


Blocktime: 5 sec (4 second avg was not feasible in testing) target (depends on Diff ALGO.)
Custom Difficulty Algo.

Name: EGEM Sapphire
Ticker: SFRX
Algorithm: PoW Blake 2s (custom miner)
Net/Chain Id: 663
BIP-0044
https://github.com/satoshilabs/slips/blob/master/slip-0044.md
RPC:  9090 (in testing but this will change)
P2P: dynamic port(s) selection using DAT protocol

----------------------------------------------------------------------------

Rewards Pass in what we call Eras, there are 7 of them that span close to 10 years and taper the rewards along the way so there is no max supply and the dev reward that's included in each block is reduced to make sure its fair as possible for everyone,
and also keeps development moving and not going stale.

----------------------------------------------------------------------------

BLOCK ERAS
----------------------------------------------------------------------------

0 - 7,500,000 (ERA0)
7,500,001 - 15,000,000 (ERA1)
15,000,001 - 21,500,000 (ERA2)
21,500,001 - 30,000,000 (ERA3)
30,000,001 - 37,500,000 (ERA4)
37,500,001 - 45,000,000 (ERA5)
45,000,001+ (ERA6)

----------------------------------------------------------------------------

SFRX Links
Github - https://git.egem.io/sapphire
Discord - https://discord.gg/bQXDtUU

Markets:
https://coincodex.com/crypto/egem-sapphire/
 
Wallets:
OPAL (Alpha) - https://github.com/TeamEGEM/Opal-Wallet
https://myegemwallet.com
 
Social Media:
Telegram - https://t.me/EGEM_Team
Twitter - https://twitter.com/ETHERGEMCOIN
Reddit - https://www.reddit.com/r/egem/


Team EGEM Core & SFRX inventor => OSOESE is Open Source OSO∞ESE Software Environment aka "datber" discord.egem.io
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November 05, 2018, 08:19:54 PM
 #2

Can’t wait!
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November 05, 2018, 08:20:45 PM
 #3

The snapshot block is coming soon. Exciting news!
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November 05, 2018, 08:21:56 PM
 #4

Snapshot countdown can be found here. https://dnregemx.sh/egem/

Roughly 3 days to go!  Cool

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November 05, 2018, 08:28:22 PM
 #5

Pow?

Mineable

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November 05, 2018, 08:28:55 PM
 #6

Pow?

Yes, EGEM Sapphire is independently mined (dual if you prefer) on a subchain to EGEM

Team EGEM Core & SFRX inventor => OSOESE is Open Source OSO∞ESE Software Environment aka "datber" discord.egem.io
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November 05, 2018, 08:29:58 PM
 #7

I can't wait, i'm hella exited Wink
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November 05, 2018, 08:51:36 PM
 #8

Yes! That will be the big step for EGEM and our community. Hold! Now only hold  Grin
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November 05, 2018, 09:10:33 PM
 #9

EGEM community and devs have been great these months I've been on the Discord, Sapphire is now the crowning of all this hard and positive work  Cheesy

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November 05, 2018, 09:34:57 PM
 #10

Following and waiting for my sapphires Smiley
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November 05, 2018, 11:35:43 PM
 #11

Any pools supporting sapphire ?
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November 06, 2018, 02:43:09 AM
 #12

This is gonna be sick! :-D I just bought my whole salary in EGEM for this airdrop... bmuahahahahaha

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November 06, 2018, 03:04:19 AM
 #13

Any pools supporting sapphire ?

Yes; a list will be provided. Currently announcing the snapshot.

Team EGEM Core & SFRX inventor => OSOESE is Open Source OSO∞ESE Software Environment aka "datber" discord.egem.io
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November 06, 2018, 03:38:16 AM
 #14

Here we come!!!

Get Ready  REKTBEARD LOADING BAGS!
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November 06, 2018, 04:35:22 AM
 #15

Finally! The team have put in so much work! Can't wait for this airdrop  Grin
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November 06, 2018, 07:02:04 AM
 #16

Looks like a promising project, good work
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November 06, 2018, 08:36:54 AM
 #17

It could be my next mined coin...

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November 06, 2018, 08:42:37 AM
 #18

waiting for the EGEM snapshot block 1530000 and wishing good luck to the team

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November 06, 2018, 10:09:54 AM
 #19

Is it also possible to run a masternode? if yes how many coins do we need to have?
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November 06, 2018, 11:42:14 AM
 #20

Any pools supporting sapphire ?

Funny you ask  Roll Eyes, https://protonmine.com will have a pool, and we are launching a clothing store (with egem and sapphire shirts) Smiley
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November 06, 2018, 11:55:58 AM
 #21

Is it also possible to run a masternode? if yes how many coins do we need to have?

Tier 1 - 10000 EGEM Collateral
Tier 2 - Tier 1 Node & 30000 EGEM Collateral

https://egem.io/#nodes for more info

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November 06, 2018, 12:13:40 PM
 #22

Is it also possible to run a masternode? if yes how many coins do we need to have?

There is a node structure for SFRX that extends the EGEM quarrynode system. We always advertised since launch that SFRX would be part of EGEM and also mentioned that anyone who held the basic quarrynode on EGEM at the snapshot would get enough SFRX for a basic Sapphire node.

Tier one quarrynodes are 10k EGEM and tier one Sapphire Nodes are 20k SFRX (which you get in the airdrop). You have to run the EGEM node to run the Sapphire node but they do not need to be on the same box.

The ecosystem is designed so that both sets of nodes reward the other nodes plus each other (EGEM and SFRX) in the DEX listing trading and even in the Mining processes, and the tiered system is designed to reward bagholders with a separate pool of funds that supports network integrity.

More details will be released on this program shortly and I think someone else was nice enough to reply with the EGEM quarrynode system specifics.

Team EGEM Core & SFRX inventor => OSOESE is Open Source OSO∞ESE Software Environment aka "datber" discord.egem.io
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November 08, 2018, 12:43:00 AM
 #23

11 to go until the snapshot!  Cool

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November 08, 2018, 09:11:02 AM
 #24

Everyone please be aware this thread is more of a pre ann.

SFRX is still being developed

That being said it will be out soon and you can bookmark this thread for updates to main post.

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November 08, 2018, 02:36:54 PM
 #25

Wow! cant wait to see this launch. This team has been putting in work non-stop for not only SFRX, but for EGEM also. , bookmarked
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November 08, 2018, 07:00:20 PM
 #26

Everyone please be aware this thread is more of a pre ann.

SFRX is still being developed

That being said it will be out soon and you can bookmark this thread for updates to main post.


You can post this message on Discord ann channel too. A lot of people ask me about their Sapphire on wallets
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November 09, 2018, 04:36:35 AM
 #27

Can't wait to find out total sapphire from the snapshot!  Cool Cool Cool Cool Cool

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November 09, 2018, 04:44:30 AM
 #28

Interesting! Waiting for the launch and mining start!

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November 16, 2018, 07:28:19 AM
 #29

We all are waiting for dual mining EGEM with Sapphire! And for exchanges for Sapphire...  Grin
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November 22, 2018, 12:34:36 PM
 #30

i mined some EGEM on webwallet in september. Can i recieve sapphire?
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November 22, 2018, 12:44:22 PM
 #31

You should recieve them unless you had EGEM at exchange.
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November 23, 2018, 08:13:47 AM
 #32

You should recieve them unless you had EGEM at exchange.

I am not seeing them on myegemwallet.com
do I have to add a custom token? what are the Token Contract Address, Token Symbol and Decimals?

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November 24, 2018, 04:06:26 PM
 #33

You should recieve them unless you had EGEM at exchange.

I am not seeing them on myegemwallet.com
do I have to add a custom token? what are the Token Contract Address, Token Symbol and Decimals?

Sapphire is not a token it is a coin on its own chain. It is also not launched yet, we only did the snapshot for the airdrop.

You can use this link, place your egem address in the top right, and it will give you a sapphire balance you can expect at launch.

http://beta-explorer.egem.io/


Team EGEM Core & SFRX inventor => OSOESE is Open Source OSO∞ESE Software Environment aka "datber" discord.egem.io
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November 24, 2018, 04:08:14 PM
 #34

You should recieve them unless you had EGEM at exchange.

I am not seeing them on myegemwallet.com
do I have to add a custom token? what are the Token Contract Address, Token Symbol and Decimals?

Sapphire was a snapshot. To view your snapshot balance, put your egem address here http://beta-explorer.egem.io/

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November 24, 2018, 06:57:44 PM
 #35

launched yet?
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November 26, 2018, 07:55:54 AM
 #36

You should recieve them unless you had EGEM at exchange.

I am not seeing them on myegemwallet.com
do I have to add a custom token? what are the Token Contract Address, Token Symbol and Decimals?

Sapphire is not a token it is a coin on its own chain. It is also not launched yet, we only did the snapshot for the airdrop.

You can use this link, place your egem address in the top right, and it will give you a sapphire balance you can expect at launch.

http://beta-explorer.egem.io/


tnx
I see my Sapphire balance, will follow the news to be ready for the launch

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December 15, 2018, 07:47:48 PM
 #37

We all are waiting for the launch!  Grin And i am waiting for dual mining with SFRX for heating my place  Grin
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February 06, 2019, 11:16:39 AM
 #38

so where we receive sapphire airdrop ? myethergemwallet support it ?
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February 25, 2019, 11:48:28 AM
 #39

When chain goes live the wallet that had the EGEM will get the SFXR.
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March 10, 2019, 03:10:57 PM
Last edit: March 10, 2019, 03:30:26 PM by osoese
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 #40

I have not posted on here in quite some time because of development. I have some exciting news as Sapphire nears a public launch about what we call QUANTUM SWAPS (internally I call it '5 second bitcoin'). First some quick background on the project in case you never heard of this before:

We over at EGEM did a fair launch ETH clone with no ICO and used that platform to add the integrated subchain called Sapphire or SFRX. SFRX was devised to be dual mineable with EGEM (ethash) using blake2s. While the original idea of Sapphire was to harness the power of a relationship with the parent chain (EGEM) on a per block basis and store data on chain, I realized fairly quickly that we needed some more immediate market appeal. All the while I knew because of a previous project that this relationship would eventually prove valuable. So, we will get back to that relationship and its use when in production and show the long-term value proposition of EGEM and Sapphire as a mate. The initial coming out of the gate benefit of this is enhanced 51% protection with the pair. EGEM also uses Pirl guard natively to protect against this type of an attack, so that is why I say "enhanced." For early adopters of EGEM I added an airdrop at block 1530000 of 2 SFRX to 1 EGEM to get some market proliferation.

I added a DEX - a TRUE Decentralized Exchange - to Sapphire. Sapphire blocks support something other chains do not... the accounts support multiple currencies native to the chain. (yes someone can ICO and even make it mineable but we can talk about that later) Therefore a transaction from one party to another party does not just contain an amount of value it also contains a ticker much like an exchange. Unlike an exchange (except maybe for platforms like bitshares) the transactions are posted on the blockchain. Well, the hurdle here was to have a one source wallet, because I agree with ease of use. Crypto is fantastic for a software engineer or technical tinker party like a gamer, but can your grandma eventually learn to use it with a private key? What about when she wants to buy 2 coins? So, I always liked the Ethereum platform basics and EGEM was built from that so I started with the EGEM (and Ethereum clone) wallet. You use this wallet for sapphire. I use the EGEM Wallet to move funds on sapphire and any EGEM (or even an ETH) account would work for this purpose. Since EGEM is supported on Trezor and Ledger hardware wallets you may use your device to unlock the account but transfer of funds at this time requires use of a Sapphire wallet in conjunction with your devices. Everything happens on the client state just like an offline transaction and you post signed transactions to the chain. This is just basic crypto stuff. In the Sapphire version of the new Opal wallet (which is called OpalGem) there is a panel for a dex. There is a panel for sapphire balances that would look like an exchange backend account, and there is a panel for EGEM on EGEM.

So, I had no problem getting funds to transfer and prove the transaction in a Patricia Merkle Trie set up like Eth does. There are still some finishing touches in this area for speed and reliability at go time. But then I started working on how to get bitcoin and other currencies onto the Sapphire platform. I began working toward the Lightning Network protocols and Hash Time Lock Contract payment channels, etc. I soon devised a bitcoin wallet that is native to your Sapphire Opal Gem wallet and allows you to use it with the EGEM account. An easy way to say this is that when you unlock the account with an EGEM private key there is a bitcoin address derived from it that you also control, in fact there are 2. I tinkered with creating an HTLC and combinations of stored unspent transaction outputs where you end up rewriting the destination or using a secret. The idea was that using this approach you could "deposit" BTC (or other similar coins) into your EGEM Sapphire derived BTC address as an HTLC and trade the unspents on the exchange with the whole redeem script idea and you guys know the Alice and Bob scenarios if you are a LN fan. Quick note: if I require the owner of the funds to be online during the trade time I could stop here because I already solved that puzzle, but we want to be able to post a trade and walk away… so thus it became a little more complex. We also control the keys for these “deposits” in such a way that if can be proven to the trustless environment during this transaction cycle. I got this to work in a creative way with a pairing of USTXO in a function that rewrote the unposted pair for a new destination over and over but keep in mind how many fees are involved and what if someone divides your bitcoin? Now you are rewriting multiple unspents…and it works but its sloppy, onerous, complex…but necessary. Inevitably we are going to end up dealing with this scenario on chain so consider the work in this part of my solution added to what I describe below. As satoshis are broken up into other transactions what we end up with is a fee being assessed to the “first withdrawal” at which time a signed transaction has to be posted to the chain. Until that moment we have the capability of producing a lot of scenarios using our confirmed funds in an address we control. For the rest of this post I am going to focus on this part of the equation, because that also became the trick – how to generate this address and control it while also keeping a level of not owning it for transfers sake in the equation. My solution to bitcoin transfers quickly became one of two things – store and trade unspents in HTLC and payment channels or trade the address and accounts that held confirmed unspents. In either scenario when a user needs to withdraw from the sapphire controlled environment there is a posting to the chain and a fee. Provided a user holds their funds in the sapphire deposit situation, even though those funds are proven and confirmed on the BTC chain, we can avoid posting unspents back to the chain and even can work with accounts like as in bitcoin core. There is, however, one other way to do this and that is to break up the deposit into several smaller receiving addresses and to use those smaller collective amounts of satoshis as a group. Remember, we are dealing with software here – this part is easy. So, as with anything the solution to this problem is to think ahead.

Now, keep in mind my end goal was not to create new nodes on another network, as we already have nodes on EGEM and Sapphire. So I already have our own "network" and we are shooting for a 4 to 6 second blocktime which has been near impossible. But it is fast. So this is where I get a "5 second bitcoin" from. Bitcoin is just the long pole in the tent. Everything transfers in "5 seconds" - or more appropriately as fast as we can make sapphire stable. The goal is 5 seconds and that keeps up in testing right now. I use bitcoin as an example because if bitcoin works then everything should work. What is the actual goal?

Deposit bitcoin onto sapphire in such a way that you hold the keys, but can trade it or send it on sapphire and the end destination can pull those BTC anywhere they want verifying that they alone now own the keys….in the standard Sapphire transfer time of “5 seconds” and while remaining decentralized trustless with proven transactions
Regardless, there is still the initial transfer to a wallet we can prove holds the funds in a decentralized trust method on Sapphire. So, the first thirty minutes is existent.  It is after that where I want to either post it as a trade or send it to another sapphire recipient and for that destination to have the option on what to do with the bitcoin because they now control it and I do not and can prove that. The withdrawal can, depending upon how its done, be transaction fee free and take little time OR will take the same 30 minutes because it requires a posting to the chain. Remember we are calculating this in advance by dividing our “deposit” (which is just a transaction) into small tradeable amounts each in an address we control (but in this case in such a way that we can transfer it).
I searched long and hard for a way to post a secret on a public space (on chain) and have it be proven out somehow. Even ETH contracts do not have a private data section where this is possible. Yet I did figure out that a node can provide a secret area of memory if it is not on that node. Therefore, I devised, and then subsequently tested, a way for nodes to host “secret safes” for accounts. They have to be encrypted and formed in memory that cannot be dumped to get at the contents so that means even during the creation cycle. The key is to have those secret safes operate much like an on chain contract where you can control what’s in it and actions out of it (such as sign a transaction that proves ownership) but do not actually have the physical private ley in hand for one reason – you want to be able to transfer that ownership to someone else. Yet, having your EGEM and Sapphire BTC accounts embedded in that relationship in such a way that you can actually sign transaction with those accounts private keys that translate to a signed transaction inside the secret safe – which can then be posted publicly to the chain. The result is a signed transaction from the wallet holding the funds that proves you own the wallet. Anyone looking at the open source implementation on how this is done will see you have no way of extracting the private key to that account but that you have complete control to use it – albeit in conjunction with an on chain transaction if you so choose. They will see that account ownership is proved on chain. They will see that if you send in the right signed transaction to transfer ownership that the new owner has ben transferred control and you do not have it anymore. You can prove it. And of course, an end recipient can eventually use WIF or some other method to import that private key into their own account as a withdrawal thus avoiding an exit fee – or they can simply exit to an exchange or outside bitcoin wallet and spend a fee for that final spend as is customary on bitcoin.

Typical of any systems engineer I broke these things down into steps and made each step work before stating I could do it. As a RELATIONAL DATABSE information systems engineer, I approached crypto as a step by step procedure for getting data to be secured in my online ledger database (the chain) and procedurally update to secure my end result. I got the peer node to send me my first live bitcoin address in one of these transactions today. There is still some work left to do but I will be presenting a video evidence soon (within a week of this post I would say). What I will show is a deposit to one of those BTC addresses that then is transferred on the network and offloaded to a wallet. On testnet of course.
Please feel free to get excited, comment positively or negatively, mock me, get skeptical, or whatever. I believe I outlined all the concepts you would need to prove what I am doing above.

Some updates on the chain in general…

The sapphire chain is holding stable in my recent tests with the internal team and starting to scale. There are a couple use cases that need to be enforced on the weighted sync and hash confirmation of other peers / nodes running code. The exchange protocol works well for buy side orders placed after a sell has posted (either in the current or previous blocks) and I am currently replicating the logic from the buy side order processing. Orders process on the chain from the db. This may prove to be a weakness at scale, but it has not proven so when testing a lot of traffic in our dev shop so far. Visual design needs to catch up with functional. The mobile app worked (and I posted shots on our discord) for sending of txs from one use to another using a cellphone connected directly to a node. There are half a dozen other small items but the chain is looking beautiful and works.
I am looking for support to take this to the next level. The easiest way to participate is to get into EGEM at our EGEM discord posted on the front page (or at egem.io). I will post on the EGEM ANN the information about how we work in conjunction with EGEM and SFRX chain and the benefits of this relationship soon. That is really something not to miss.

Please don’t hold it against me if it takes me a minute to reply to a post on here… I am aggressively finishing the development of this product. You can find me on twitter or on the EGEM discord or someone will track me down to reply if you do.

Team EGEM Core & SFRX inventor => OSOESE is Open Source OSO∞ESE Software Environment aka "datber" discord.egem.io
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March 10, 2019, 03:33:01 PM
 #41

This.... Sounds.... AMAZING!!!! Miss you buddy! Great work!
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March 10, 2019, 03:54:39 PM
 #42

This.... Sounds.... AMAZING!!!! Miss you buddy! Great work!
  Long process, and something which wasn't mentioned is SFRX is custom chain built from nothing.
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March 10, 2019, 06:05:29 PM
 #43

This.... Sounds.... AMAZING!!!! Miss you buddy! Great work!

Thanks Coach - time to do another show?

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March 10, 2019, 07:35:59 PM
 #44

 Shocked Loving what im reading... Good work Oso! I know the EGEM team has been working non-stop on this!  Shocked

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March 12, 2019, 07:15:16 PM
 #45

It will be amazing to see this concept in action - being able to use support multiple currencies will be great Smiley
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March 15, 2019, 09:33:54 AM
 #46

is possible to claim the SFRX award on block 1530000 (of 2 SFRX to 1 EGEM)?

.freebitcoin.       ▄▄▄█▀▀██▄▄▄
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BITCOIN
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.
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.PLAY NOW.
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March 16, 2019, 01:51:42 PM
 #47

is possible to claim the SFRX award on block 1530000 (of 2 SFRX to 1 EGEM)?

Absolutely - when the chain launches you will have it in that address on chain. I will launch the chain as soon as its ready and post regular updates as to my progress in the EGEM discord or when requested.

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March 16, 2019, 02:03:33 PM
 #48

is possible to claim the SFRX award on block 1530000 (of 2 SFRX to 1 EGEM)?

Absolutely - when the chain launches you will have it in that address on chain. I will launch the chain as soon as its ready and post regular updates as to my progress in the EGEM discord or when requested.

Tnx osoese

Please, post here the important news from discord so the forum community can follow this project too

.freebitcoin.       ▄▄▄█▀▀██▄▄▄
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  ▀████  ███ ████▄▄███▀
     ▀▀████   ████▀▀
BITCOIN
DICE
EVENT
BETTING
WIN A LAMBO !

.
            ▄▄▄▄▄▄▄▄▄▄███████████▄▄▄▄▄
▄▄▄▄▄██████████████████████████████████▄▄▄▄
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  ▀▀▀████▄▄▄███████████████████████████████▄▄▄██████████
       ▀█████▀  ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀  ▀█████▀▀▀▀▀▀▀▀▀▀
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.PLAY NOW.
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March 17, 2019, 07:54:19 PM
Merited by osoese (1)
 #49

Once the info is fully compiled, we will release a testnet alongside a whitepaper.
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March 21, 2019, 12:09:45 AM
Last edit: March 21, 2019, 12:36:24 AM by osoese
 #50

I just want to make the update that I posted the first proof a few days ago on EGEM discord

https://twitter.com/delusionaleuph1/status/1108088658723131392

That tweet link is a quick synopsis... I am using (ofc) testnet BTC until everything is stable.

In the PDF proof, which I will upload in this post, the UI for the desktop wallet is pretty much ugly. It is my dev code. We already have improved it considerably, and a real designer is working on the UI for me to post a proper proof which is coming soon.

Here is the proof

https://github.com/osoese/5SECPDF/blob/master/5-second-btc-proof-of-concept%20.pdf

just a quick note if you see me talk about "deleting from database" this is the local peer client level db just like any other blockchain holds on each peer client. This blockchain and this proof are 100% decentralized and hosted on peer client nodes with no central authority. I would not have it any other way. This is also 100% the challenge and why I am so happy I have this starting to work.

Thanks for your interest.

Here is the signature proof for your own verifications:

You will note both parties were able to sign a proof that they owned this address at different times (in the PDF). That is the magic of a 5 second transfer - it is kind of like a blockchain based "pointer" to the transaction that you are simply transferring to another party and it is held in such a way that you control it with a private key but that neither party has "the" private key to the address being transferred. The entire time they can prove they own it with one of the following signature proofs. They can transfer funds by signing with the BTC pk through the chain. The can transfer the ownership of that access to the BTC confirmed funds in a sapphire transaction (either on dex or just a send).

The confirmed funds:

https://live.blockcypher.com/btctestnet/tx/18def43307b47595643a26c40118aabb5845ccb99374e0e9b6b00f40b33ef6ef/

The proof of the final owner (which he can transfer this again when he wants to):

signature
Hy8aO6MAOpcKotzxhNcrHScXD3uF8+bkcur6ryvuPj7MFXgA88xtTuhmfJYjq1nZSl/zAdnhfW P9H+CSf9ksoBw=
address
myPdCrL7RbLgKtCH92svgkdCv4bGYonc8x
message
0x7357589f8e367c2c31f51242fb77b350a11830f3 controls this address myPdCrL7RbLgKtCH92svgkdCv4bGYonc8x
I go to this site and validate it… https://blockexplorer.com/messages/verify 
 

A note on the next steps...here is the desktop wallet that owns the address I transferred. You can see that the address shows but the balance does not in the "sapphire balances." This is because a better solution presented itself to me at game time for showing the "locked funds." I am updating to not only show the balance there but also to actually video the transfer and an exchange on the dex. If you read the PDF you see I did some things manually this round by signing and posting a transaction directly to a node. Next up it will just show where the highlighted areas are.



Thank you for your interest


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March 21, 2019, 12:59:55 AM
 #51

Waiting patiently
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March 21, 2019, 01:59:06 AM
 #52

when can pow
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March 21, 2019, 08:51:06 PM
 #53

when can pow

pew pew pew

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April 05, 2019, 05:10:46 PM
 #54

when can pow

There are some users in the discord.egem.io that are making a miner right now....

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May 28, 2019, 08:32:25 PM
 #55

https://bitcointalk.org/index.php?topic=4832535.new#new

.....
The main developer of Kodiak stopped working on the coin shortly after listing on the Stex exchange. Let everyone decide for himself why this happened ... Who this Kodiak is is unclear, the bitcointalk account is made only for posts in this thread, so there are options ...
There is one developer who has never written in this thread, but is known for other coins. This is osoese (bitcointalk, twitter). He is involved in the development of several coins (EGEM, SFRX, ELLA, LMO, XBI, maybe more ...), I think we should demand an answer from him and remind about responsibility to users.
And wasn’t the LMO originally conceived as a scam to finance other projects (perhaps even more scam))) Huh
In any case, osoese said he would continue work on the LMO. Smiley
.....
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May 30, 2019, 10:24:08 AM
 #56

https://bitcointalk.org/index.php?topic=4832535.new#new

.....
The main developer of Kodiak stopped working on the coin shortly after listing on the Stex exchange. Let everyone decide for himself why this happened ... Who this Kodiak is is unclear, the bitcointalk account is made only for posts in this thread, so there are options ...
There is one developer who has never written in this thread, but is known for other coins. This is osoese (bitcointalk, twitter). He is involved in the development of several coins (EGEM, SFRX, ELLA, LMO, XBI, maybe more ...), I think we should demand an answer from him and remind about responsibility to users.
And wasn’t the LMO originally conceived as a scam to finance other projects (perhaps even more scam))) Huh
In any case, osoese said he would continue work on the LMO. Smiley
.....

Kodiak listed me as a dev without my original permission and I never did anything on the core of LMO. I have publicly stated this on twitter and ended up with a new discord for kodiak broken community. Your problems are with kodiak and not me. I also proved that the game I worked on for LMO (which was what I said I built for the coin in the dev area) worked and there is a video of it. I offered other devs to take over that project and work on it as I have time. Bottom line, I don't work for you and I did not pump the LMO shitcoin. In fact I have done everything I can to pick up the pieces for a community that trusted another (since you brought up the shitcoin ELLA) anonymous dev without knowing anything about him or the coin - I'm talking about kodiak. That falls under DO YOUR OWN RESEARCH DYOR and it is your responsibility not mine. So please don't show up on my other projects and post stuff demanding answers because they are in your mirror at home. You are welcome to come to the new LMO discord and compile the code and run your LMO and if you are successful in getting it up and running I can even get you the dev premine because unlike you I did do a little of my own research. I have contact with kodiak who is not a bad guy but hes just a college kid who got overwhelmed by apparently a bunch of pnd characters on that college project coin (LMO). Here is the new discord link for LMO https://discord.gg/kaXkRZA don't worry in advance - I probably wont be responding to much when you ask me about it other than what I said above. The reason is that SAPPHIRE is my publicly advertised baby and pet project and wher I spend my time.

now for those of you who are here to talk about sapphire here is the link to the EGEM discord:https://discord.gg/bQXDtUU and this is where you can find me working away on this chain


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May 30, 2019, 10:31:56 AM
 #57

Development on SFRX has taken a lot longer than I ever anticipated. I have some videos for the mobile app. We had some issues with the sync process between peers and the all balance tree to work out. The chain is going into another round of early testing now that those things have been worked out and I will be posting the progress. Here is a video or two of the mobile

https://www.youtube.com/watch?v=XI3he-ido9k

https://www.youtube.com/watch?v=CMD6ytnCpdc

I will continue to post more as it develops. We are getting very close.



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May 30, 2019, 10:41:31 AM
 #58

A discord user asked about bitcoin addresses on SFRX chain so here is the answer:

Mornin'
When building this I took several implementation routes to integrate other coins. The first route was to create a BTC address directly related to your EGEM address and use it in HTLC (hash time lock contracts) and with the lightning network protocol of sorts possibly combined with the BTC relay. So, yes you do have a egem address related BTC address (in fact two of them) that you can send funds to.... however that is not the magic....
As soon as I implemented that idea I went into another thought pattern where I can create a BTC address that the network has the private key in such a way that it needs multiple parties to unlock - kind of a multisig of sorts. However, the cosigner is software and as long as you meet certain conditions it automatically signs. Those conditions are that you signed a transaction with your EGEM address and posted it to the sapphire chain. And it is programmed to give you 2 options (3 if you include creating the address) 1) prove you own the BTC address and 2) transfer ownership of that address unspent transaction outputs to someone else's EGEM address (and then 3 create and address for you). So, then there is another issue....
the other issue is I cant store a bitcoin (or any other coin) private key on a public chain or else someone can just decipher the info on the chain and grab the funds right? So this became a game. There is not really a way to do it specifically on EGEM or with a contract because all that info is public. There are derived  contract addresses on Eth and some other methods, but I chose to implement my own protocol. My protocol can be summed up as "not me" and "i dont know which of them"...
this means I connect my wallet to a node any node and request a BTC address....
but wait a minute the node itself cant just encrypt stuff that would be nuts....we could dump its memory and search for the unlocker to that encryption, right?
(this is a mind fuck so hang in there)
and I researched encrypted hard drives and all that - its a waste of time there is no encrypted storage that cant be hacked at the end of the day....
but there is a little concept that created our whole industry called public private key pairs PGP
you have to remember another concept - my name OSOESE is a recursive algorithm - I wont explain the name but recursion means you do a concept one time that keeps calling itself until it gets to the solution condition then returns the solution to all those calls until it reaches back to the original call....its like climbing way way down in the rabbit hole until solution is found and leaving a string and it climbs is way back up with the solution by pulling on the string
so without too much technical detail this kind of happens on the nodes....
"not me" means I have encrypted information but where is it stored on my hard drive then he answers with "not me"
because his encrypted information is on another node
but which one?
"i dont know"
he doesnt know where it is stored (or where it was created)
so how does he get it?
he has the ability to encrypt data to a public key that was given to him y another node - with encryption that is stored on guess what - another node
and the process happens through network transactions that are encrypted to look alike
so that core concept is what happens just to encrypt the nodes and their communication....he (the node you called) may not know where the data is or where the encryption is stored but through a network call he can get it returned to him and get it unencrypted..... the parts he needs to do his job
now techicallly while this is happening you can dump the memory and catch it
but that is where the part about not knowing where it is comes in
you dont know which node to pull
and neither does the node you called
and all the nodes are first and foremost running a protocol that locks their code and proves they are up and running
so anyway - like i said its a rabbit hole.....and after all that shit we only have encrypted nodes basically
now you called the node to get a BTC address not to care about the nodes encryption process
your signed transaction is coded on the chain to create a BTC address in that encrypted node network and it is only able to be triggered by your [EGEM] signature
unless you sign one thing -> transfer of that control to another party
so if you look at my BTC proof the 5 second thing
the first step is I make an address on the BTC testnet over the node encryption - it looks easy because all that stuff :point_up: is just running and I dont need to explain it
then I send some funds to that address
then I sign a proof that my EGEM address owns that BTC address
then I transfer the ownership of the enture address to @sehidcan test EGEM address
then I log into another wallet with sehidcan address and make another signature proof that sehidcan EGEM address owns the bitcoin address
neither sehidcan or me have the bitcoin private key so we cant reneg on our deal and steal the funds
only the registered EGEM address can unlock and transfer the funds or control of the wallet
and this happens on sapphire
in fact I think the last step of my proof is that I cant sign the address any more  because I transfered ownership
so that is sapphire BTC address in a ling drawn out explanation
and thats also why it took a few months longer to make than I anticipated, because the original protocol did not have BTC transfers in this way

https://github.com/osoese/5SECPDF

Team EGEM Core & SFRX inventor => OSOESE is Open Source OSO∞ESE Software Environment aka "datber" discord.egem.io
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May 30, 2019, 11:25:57 AM
 #59

Hey guys... I've been working shoulder to shoulder with Osoese ever since we saved XBI from the previous dev exited the project and scammed everyone. In all the time I've known him, he's always been clear about Sapphire being his priority. I've seen the code and I've been testing it for almost a year now. It's over 25k lines of code that is original, something you don't usually see in crypto this days. Let that sink in for a while. Most block-chains today are a copy or a cropped derivative of an ancient technology that has been massaged and handled by thousands of developers over the past decade. That's why everyone says "We have a block-chain the way Satoshi intended it to be". Every crypto-currencies out there take what's working in the wild and make a modification to it that suits their needs, re-brands it and calls it "a brand new project that is exactly what you need!".

Well, fuck that shit. Osoese has started from scratch. SFRX is coded using a modern programming language and with an independent vision that's not only focused on end-user functionality but it is also based in a business model. That is a humongous effort! It will have bugs, for sure. Nobody is perfect. We are trying to mitigate them and audit the source code to deal with potential vulnerabilities. And of course it will be open source and everyone in this community (and others) will be able to play with it, mold it, re-shape it and re-deploy it as they please. After all, it's not every day you get a brand new original story to enter the bast repository of knowledge that is the library of Alexandria (A.K.A. this monotonous crypto-currency world we're living in, where every single project has source-code that, in one way or another, is related to Satoshi Nakamoto).
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May 30, 2019, 03:28:11 PM
 #60

Hey guys... I've been working shoulder to shoulder with Osoese ever since we saved XBI from the previous dev exited the project and scammed everyone. In all the time I've known him, he's always been clear about Sapphire being his priority. I've seen the code and I've been testing it for almost a year now. It's over 25k lines of code that is original, something you don't usually see in crypto this days. Let that sink in for a while. Most block-chains today are a copy or a cropped derivative of an ancient technology that has been massaged and handled by thousands of developers over the past decade. That's why everyone says "We have a block-chain the way Satoshi intended it to be". Every crypto-currencies out there take what's working in the wild and make a modification to it that suits their needs, re-brands it and calls it "a brand new project that is exactly what you need!".

Well, fuck that shit. Osoese has started from scratch. SFRX is coded using a modern programming language and with an independent vision that's not only focused on end-user functionality but it is also based in a business model. That is a humongous effort! It will have bugs, for sure. Nobody is perfect. We are trying to mitigate them and audit the source code to deal with potential vulnerabilities. And of course it will be open source and everyone in this community (and others) will be able to play with it, mold it, re-shape it and re-deploy it as they please. After all, it's not every day you get a brand new original story to enter the bast repository of knowledge that is the library of Alexandria (A.K.A. this monotonous crypto-currency world we're living in, where every single project has source-code that, in one way or another, is related to Satoshi Nakamoto).



This needs to be brought to light!!
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July 09, 2019, 01:35:04 AM
 #61

discord has been getting some good updates recently.

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July 22, 2019, 08:58:31 AM
 #62

Zero & EtherGem (Sapphire) - Private Smart Contracts
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July 19, 2020, 11:09:24 AM
Last edit: July 19, 2020, 11:20:06 AM by osoese
 #63

After a little bit of a rebuilding period SFRX development is back on. Some of the concepts in using crypto are advanced to even me as a developer and take some time to work though. One of the things I had issues with in the previous almost release was I tried to make my own Patricia Merkle Trie type structure without studying why it was used that way in ETH. I also couldn't figure out how to use it before in my code on two different peers and ended up giving up and creating my own blend of the concept, a KV db, and a peer hash based on checkpoints that kind of worked but not so well as I thought it would. Let's just say there is room for error in calculating hashes on patterns and especially if you use a reduced data set on that pattern in every peer evaluating the hash on the same set of transaction each block and the blocks are empty. I could have figured that part out but the filesize for this tree substitute was getting kind of heavy also. Now, ETH is a heavy ass chain (large file size) so maybe this isn't the best evaluator.

Just to close that thought from above I used the PMT in the new version of sapphire and its easier to sync now. There are other improvements for managing the peers, but let's continue talking about ETH...

I think most of ETH heaviness, though, is more related to a 15 second or less block time average and I mean look at all you can do on the block. I love using an ethereum clone as a base for sapphire. It makes it so easy to use the address and signature capabilities of legacy chains and merge them into a product. I mean, by definition, that means cross chain functionality. If the functionality on the legacy chain will also work on your chain then it works "cross chain" in some regard once you figure out the link between the chains. Embed the "link" into your own chain and you create the link. Embed the functionality from multiple other currencies and you extend that relationship to all those chains. Since at least one of them (Eth) and now even other's like BCH, give you the ability to release your own currencies in the form of tokens you have a powerhouse concept. So, this is where my brain goes on Sapphire. I don't care how long it takes me to make it, it's fun to work on.

Anyway the multi currency capability I started with is using an Ethereum address to generate a bitcoin address and then you have one private key and two chain public keys. I mean this is a "derived wallet" in a way. I only use a sub set of the Ethereum private key and I know there are some pre deterministic features of that combination (like people have names wallets that start with a combination of characters extending so far into the public key address that it gives the ability to make the name - that means some of the pk can be figured out...). The other potential weakness is I derive a bitcoin public key from the ethereum private key which makes a public ethereum address too. If you make enough of these combination of addresses and evaluate the public key discrepancies could a patter be figured out that can reverse engineer to the ethereum private key used to make a public bitcoin address? I doubt it - I think even if it was it would have to use both every time in the calculation, and also I think it violates one of the rules of a certain type of cryptographic fundamental.   That fundamental is something like if you hash two different inputs the output is different enough that there is not a pattern to identify the input.

So, I am putting some of the functions on the mobile wallet for now as I finish up sapphire. You can check it out on youtube or at our discord. The mobile wallet sends a bunch of coins with one pk and one of those coins is our own internal token set ETTT (Egem Test Trading Token) and ETT (Egem Trading Token). We are always at discord.egem.io

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August 01, 2020, 12:42:07 PM
 #64

From an email regarding recent releases of mobile wallet and sapphire...

Sorry for the late reply. I was working through some early bugs in my beta release wallet.

https://wiki.egem.io/egemwallet

Here is a link to the current apk which does EGEM LTC BTC BTCtestnet ETH PIRL ETHO and our own egem test trading token ETTT. It also does my internal coin sapphire but it's hidden in this release because its just starting to work.

I don't have a lot of documentation for you yet, but one of the guys did two write ups...

https://gitlab.com/ethergem/egem-mobile/-/blob/master/EGEM_wallet_back_up.docx

(if you take the backup of the slide up secrets and paste it into a file that you save locally before you use your wallet it is best)

https://gitlab.com/ethergem/egem-mobile/-/blob/master/EGEM_wallet_use.docx   

and here is the youtube channel with videos.

https://www.youtube.com/channel/UCZIw0AWMZPSbgLfjNNMS_6g?view_as=subscriber 

We are telling everyone to be careful with large funds in any of these wallets until we get some road miles on usage. You can certainly use these for creating addresses and using them, but might want to seek a more secure storage mechanism if you are holding large funds for a long period of time. I might make a more hardware wallet maker that runs locally and allows you to keep storage funds off the grid. Technically, all the wallets made in the mobile app never leave the app. However, they are stored locally in the app storage and in memory while its being used. It's as safe as anything you use on a computer. If the computer itself (your phone) gets compromised then it can be an issue - although - even with me having the ownership of my phone I cant find where the storage is as a user of the phone, so maybe its safer then I give it credit for. I can't even hack it unless I use the app itself and I don't know that there are any hackers using the compromised devices on mobile. Anyway, it passes security checks when they run, and the underlying security is from google libraries which I am pretty sure isolate themselves to the application backend (i.e. making it extremely safe). I just would like to do more proper penetration testing before going mainstream with big funds.

If you ask me, would I use these wallets myself? Yes. For larger funds I might just transfer enough into one of these wallets to get a transaction done or a trade though. For long term storage I (as well as anyone else) is extremely paranoid and that means a process that is easier to read about with some searches. But, the end idea is I am designing this wallet for everyday use and at the merchant and to exchange with various mechanisms. So, to that end, I love this wallet for usage and feel it has great potential as crypto starts to go up now in a bull market.

ETH and LTC are low cost with high potential. Both are on the mobile wallet. EGEM is extremely low cost and going up...

egem.io

Good luck and lets talk soon.

Team EGEM Core & SFRX inventor => OSOESE is Open Source OSO∞ESE Software Environment aka "datber" discord.egem.io
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August 01, 2020, 01:08:13 PM
 #65

This is what a tx looks like from the miner (Quarry-Miner-Alpha-0.0.1)

This is the receiver balance on Egem Opal Mobile wallet (see previous post for links)

There were three nodes up when this was done and the localhost version of the node received the tx and balance on explorer correct

will be updating this post with more...

Here is the second transaction on youtube:

https://www.youtube.com/watch?v=y43NzZPSfzg

and then mined a few blocks to get the senders address with enough funds to cover... during testing I allow credit on balances (negatives) and have small mining reward to simulate later on in life of chain

https://www.youtube.com/watch?v=4-LQxAKjqwU




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August 01, 2020, 06:46:24 PM
 #66

Thanks for exciting update again, 2 years of progress and even fud and still there is ethergem going forward getting better and better, thanks for the great update
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August 04, 2020, 05:55:24 PM
 #67

https://myegemwallet.com/ not works.
which wallet can i access SFRX ?

and when will the launch mainnet?

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August 29, 2020, 11:27:55 AM
 #68

Great updates! Whats the difference from a wrapped BTC and a 5 sec BTC transfer with Egem Sapphire? Do you send a real BTC in 5 seconds?
thanks again. cheers
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August 29, 2020, 11:54:31 AM
Last edit: August 29, 2020, 12:47:32 PM by purely_crypto
 #69

Egem sapphire, once it is done it will make a lot of frowns, and make people think why they didn't do a real job looking for real potential projects with actual use cases
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August 29, 2020, 12:31:27 PM
 #70

Great updates! Whats the difference from a wrapped BTC and a 5 sec BTC transfer with Egem Sapphire? Do you send a real BTC in 5 seconds?
thanks again. cheers

Wrapped BTC is not BTC but a substitute for BTC that requires you to get it from the wrapped source right?

"wBTC is a BTC-backed ERC20 token. Each wBTC in circulation is backed 1:1 by Bitcoin and is held in cold storage by BitGo, the first qualified custodian purpose-built for storing digital assets"

that is the quote from https://coinlist.co/asset/wrapped-bitcoin?gclid=Cj0KCQjw-af6BRC5ARIsAALPIlUIDv2SlDLejgxGfOnjXci3g7rjw42lPekMmmBMe3_pbLj6G0apUIgaAvbeEALw_wcB

so sure you can send it to another party as fast as the blockchain it is wrapped on, but then when you want to withdraw that BTC to your BTC wallet or the receiver wants to spend it as BTC they have to wait 30 minutes (3 confirms) for the "unwrap" of that WBTC to get their actual BTC in their BTC wallet on the BTC chain and pay a fee. (I' not even going to talk about the part where its held by a custodian of sorts)

Now let's compare and contrast that to the 5 second BTC idea. The 5 second BTC idea follows this principle in life:

"own nothing and control everything"

so what that means is you actually don't have ownership of the BTC private key but it is stored in such a way that you control it with your EGEM account. So what good is that? Well, you could sign a transaction that sends that BTC to any BTC wallet you want to and it happens because you control access to that private key even though you don't have it in your possession. Okay so great we can send some BTC using a wrapped wallet that listens to our EGEM private key. What good is that?

so the next principle in your answer is this:

"Make that control transferable in part or whole"

So, that means you have another option with your BTC is you can transfer control of that BTC to another party in whole or part. This means you can prove that you don't have access to that BTC pk any more with your egem wallet and someone else (whoever you transferred it to) does. And the whole or part means they have access to the unspent satoshis they own, because you might only be transferring half of your stash to them on BTC.  So its not even just control but specific control of the parts that make up the BTC. Using this approach a transfer is instant when its recorded so as long as you can use the next principle I am going to mention (below) you can transfer as fast as the host block chain can record that transfer which iin our case is a goal of 5 seconds. You did not have to move the bitcoin to have the new owner get real bitcoin on the real bitcoin chain in their wallet and pretty much that is immediately done. The receiver has full control over this bitcoin to send it wherever they want and they did not have to wait for any confirms on the BTC block chain, they can prove that the balance is there on the BTC block chain and that they own it, so that is a real BTC transfer of ownership in almost an immediate (in this case 5 second) event.

So then what is that last principle?

"Post and Prove it in the wide open on chain public"

This is where sapphire chain comes in because you have the ability(and the person you are trading with or transferring to has the ability) to run functions that prove publicly that you dont have the private key for the BTC you traded them and that they do not have it either but that they control it and you don't.

And, finally we do this by using native functionality to the block chain which is this: signed messages. It works since beginning of time, just ask Craig Wright about the ability to fake a signed message from a BTC address. He could not do it on bitcoin and he can't do it on a respectable block chain. So this is the accepted standard for proof of ownership.

This snippets are from an upcoming article I will eventually ffinish and post called "How to start a truly decentralized bank on EGEM" and it deals specifically with why this is the method I chose to implement transfers.

Sapphire is truly decentralized on chain experience and we are getting close. If you like what you read, please come to discord.egem.io and find the #sfrx-chat channel and stop by. We have a GPU miner starting to show in tests and the chain is getting close to an initial fielding. This is after over two years of work. We are not fly by nighters, but are going to be working on this until it goes live. You have a chance to participate in it with us at egem.io and see all the other stuff we have as part of this ecosystem including nodes and bot interaction, mining on older GPUs, a great eth core, a multi currency mobile wallet, and more.


Team EGEM Core & SFRX inventor => OSOESE is Open Source OSO∞ESE Software Environment aka "datber" discord.egem.io
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August 29, 2020, 03:26:40 PM
 #71

This is great, real defi solution. I don't know why market does not appreciate your works.

Great updates! Whats the difference from a wrapped BTC and a 5 sec BTC transfer with Egem Sapphire? Do you send a real BTC in 5 seconds?
thanks again. cheers

Wrapped BTC is not BTC but a substitute for BTC that requires you to get it from the wrapped source right?

"wBTC is a BTC-backed ERC20 token. Each wBTC in circulation is backed 1:1 by Bitcoin and is held in cold storage by BitGo, the first qualified custodian purpose-built for storing digital assets"

that is the quote from https://coinlist.co/asset/wrapped-bitcoin?gclid=Cj0KCQjw-af6BRC5ARIsAALPIlUIDv2SlDLejgxGfOnjXci3g7rjw42lPekMmmBMe3_pbLj6G0apUIgaAvbeEALw_wcB

so sure you can send it to another party as fast as the blockchain it is wrapped on, but then when you want to withdraw that BTC to your BTC wallet or the receiver wants to spend it as BTC they have to wait 30 minutes (3 confirms) for the "unwrap" of that WBTC to get their actual BTC in their BTC wallet on the BTC chain and pay a fee. (I' not even going to talk about the part where its held by a custodian of sorts)

Now let's compare and contrast that to the 5 second BTC idea. The 5 second BTC idea follows this principle in life:

"own nothing and control everything"

so what that means is you actually don't have ownership of the BTC private key but it is stored in such a way that you control it with your EGEM account. So what good is that? Well, you could sign a transaction that sends that BTC to any BTC wallet you want to and it happens because you control access to that private key even though you don't have it in your possession. Okay so great we can send some BTC using a wrapped wallet that listens to our EGEM private key. What good is that?

so the next principle in your answer is this:

"Make that control transferable in part or whole"

So, that means you have another option with your BTC is you can transfer control of that BTC to another party in whole or part. This means you can prove that you don't have access to that BTC pk any more with your egem wallet and someone else (whoever you transferred it to) does. And the whole or part means they have access to the unspent satoshis they own, because you might only be transferring half of your stash to them on BTC.  So its not even just control but specific control of the parts that make up the BTC. Using this approach a transfer is instant when its recorded so as long as you can use the next principle I am going to mention (below) you can transfer as fast as the host block chain can record that transfer which iin our case is a goal of 5 seconds. You did not have to move the bitcoin to have the new owner get real bitcoin on the real bitcoin chain in their wallet and pretty much that is immediately done. The receiver has full control over this bitcoin to send it wherever they want and they did not have to wait for any confirms on the BTC block chain, they can prove that the balance is there on the BTC block chain and that they own it, so that is a real BTC transfer of ownership in almost an immediate (in this case 5 second) event.

So then what is that last principle?

"Post and Prove it in the wide open on chain public"

This is where sapphire chain comes in because you have the ability(and the person you are trading with or transferring to has the ability) to run functions that prove publicly that you dont have the private key for the BTC you traded them and that they do not have it either but that they control it and you don't.

And, finally we do this by using native functionality to the block chain which is this: signed messages. It works since beginning of time, just ask Craig Wright about the ability to fake a signed message from a BTC address. He could not do it on bitcoin and he can't do it on a respectable block chain. So this is the accepted standard for proof of ownership.

This snippets are from an upcoming article I will eventually ffinish and post called "How to start a truly decentralized bank on EGEM" and it deals specifically with why this is the method I chose to implement transfers.

Sapphire is truly decentralized on chain experience and we are getting close. If you like what you read, please come to discord.egem.io and find the #sfrx-chat channel and stop by. We have a GPU miner starting to show in tests and the chain is getting close to an initial fielding. This is after over two years of work. We are not fly by nighters, but are going to be working on this until it goes live. You have a chance to participate in it with us at egem.io and see all the other stuff we have as part of this ecosystem including nodes and bot interaction, mining on older GPUs, a great eth core, a multi currency mobile wallet, and more.


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August 29, 2020, 04:15:06 PM
 #72

Great updates! Whats the difference from a wrapped BTC and a 5 sec BTC transfer with Egem Sapphire? Do you send a real BTC in 5 seconds?
thanks again. cheers

Wrapped BTC is not BTC but a substitute for BTC that requires you to get it from the wrapped source right?

"wBTC is a BTC-backed ERC20 token. Each wBTC in circulation is backed 1:1 by Bitcoin and is held in cold storage by BitGo, the first qualified custodian purpose-built for storing digital assets"

that is the quote from https://coinlist.co/asset/wrapped-bitcoin?gclid=Cj0KCQjw-af6BRC5ARIsAALPIlUIDv2SlDLejgxGfOnjXci3g7rjw42lPekMmmBMe3_pbLj6G0apUIgaAvbeEALw_wcB

so sure you can send it to another party as fast as the blockchain it is wrapped on, but then when you want to withdraw that BTC to your BTC wallet or the receiver wants to spend it as BTC they have to wait 30 minutes (3 confirms) for the "unwrap" of that WBTC to get their actual BTC in their BTC wallet on the BTC chain and pay a fee. (I' not even going to talk about the part where its held by a custodian of sorts)

Now let's compare and contrast that to the 5 second BTC idea. The 5 second BTC idea follows this principle in life:

"own nothing and control everything"

so what that means is you actually don't have ownership of the BTC private key but it is stored in such a way that you control it with your EGEM account. So what good is that? Well, you could sign a transaction that sends that BTC to any BTC wallet you want to and it happens because you control access to that private key even though you don't have it in your possession. Okay so great we can send some BTC using a wrapped wallet that listens to our EGEM private key. What good is that?

so the next principle in your answer is this:

"Make that control transferable in part or whole"

So, that means you have another option with your BTC is you can transfer control of that BTC to another party in whole or part. This means you can prove that you don't have access to that BTC pk any more with your egem wallet and someone else (whoever you transferred it to) does. And the whole or part means they have access to the unspent satoshis they own, because you might only be transferring half of your stash to them on BTC.  So its not even just control but specific control of the parts that make up the BTC. Using this approach a transfer is instant when its recorded so as long as you can use the next principle I am going to mention (below) you can transfer as fast as the host block chain can record that transfer which iin our case is a goal of 5 seconds. You did not have to move the bitcoin to have the new owner get real bitcoin on the real bitcoin chain in their wallet and pretty much that is immediately done. The receiver has full control over this bitcoin to send it wherever they want and they did not have to wait for any confirms on the BTC block chain, they can prove that the balance is there on the BTC block chain and that they own it, so that is a real BTC transfer of ownership in almost an immediate (in this case 5 second) event.

So then what is that last principle?

"Post and Prove it in the wide open on chain public"

This is where sapphire chain comes in because you have the ability(and the person you are trading with or transferring to has the ability) to run functions that prove publicly that you dont have the private key for the BTC you traded them and that they do not have it either but that they control it and you don't.

And, finally we do this by using native functionality to the block chain which is this: signed messages. It works since beginning of time, just ask Craig Wright about the ability to fake a signed message from a BTC address. He could not do it on bitcoin and he can't do it on a respectable block chain. So this is the accepted standard for proof of ownership.

This snippets are from an upcoming article I will eventually ffinish and post called "How to start a truly decentralized bank on EGEM" and it deals specifically with why this is the method I chose to implement transfers.

Sapphire is truly decentralized on chain experience and we are getting close. If you like what you read, please come to discord.egem.io and find the #sfrx-chat channel and stop by. We have a GPU miner starting to show in tests and the chain is getting close to an initial fielding. This is after over two years of work. We are not fly by nighters, but are going to be working on this until it goes live. You have a chance to participate in it with us at egem.io and see all the other stuff we have as part of this ecosystem including nodes and bot interaction, mining on older GPUs, a great eth core, a multi currency mobile wallet, and more.



Ok, wow, thanks, that was excatly what i wanted to confirm. If this goes live this truly game changing. Thanks again for the well-written answer and im looking forward to that article and of course final product  Smiley my mind is a bit blown to be honest.
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