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Credit : https://bitcoincore.org/en/2016/01/26/segwit-benefits/

Phore has just successfully implemented Segwit, becoming the FIRST Proof-of-Stake coin with Masternodes IN THE WORLD to do so!

https://i.imgur.com/CviHRjX.gif

Benefits of Segwit

Transaction Malleability Fixes:

Transaction Malleability is an attack that lets someone change the unique ID of a transaction (txid) before it is confirmed on the network. SegWit fixes this by removing the signatures from the txid data, making it impossible for anyone to change the signature data. With SegWit, the txid is then calculated from data that cannot be changed.

Who benefits?

· Wallet authors tracking spent coins: easier to monitor the status of your own outgoing transactions by looking up by txid.

· Anyone spending unconfirmed transactions.

· Developers benefit because a Lightning Network is less complicated to implement and makes it possible to run lightweight Lightning clients.

· Anyone using the Blockchain because it is less complicated to design, understand and monitor.

Linear Scaling of Sighash Operations

SegWit doubles the blocksize enabling faster transactions. However, doubling the size of a transaction can double both the number of signature operations and the amount of data that has to be hashed for each signature to be verified. Without SegWit, transactions scale quadratically. SegWit allows for linear scaling. With linear scaling, an individual block requires 25 seconds to validate, and a maliciously designed transactions could take over 3 minutes.

Who benefits?

· Payments going to or from large groups. By increasing the block size, without also limiting transaction sizes, allows it to continue to support large payments.

Signing Of Input Values With Hardware Wallets

When a hardware wallet signs a transaction, it can easily verify the exact amount being spent, but can only determine the fee by having a full copy of all the input transactions being spent. This requires the network to hash each input transaction to ensure it is not being fed false data. SegWit streamlines this by explicitly hashing the input value. This means hardware wallets can simply be given the transaction hash, index and value (and told the publickey used) and can safely sign the spending transaction no matter how large or complicated.

Who benefits?

· Manufactures and users of hardware wallets.

· “Internet of Things” applications because it is easier to use in small embedded devices.

Script Versioning

Changes to scripting allows for both improved security and improved functionality. Scripting without SegWit only allows for backwards-compatible (soft-forking) changes to be implemented. With SetWit, a version number is included for scripts. By including a version number for scripts, additional opcodes that would have required a hard-fork, can instead be supported by simply increasing the script version. This avoids the necessity of a hard-fork for adding advanced features and functionality.

Who benefits?

· Developers by making advance scripting easier to code and implement.

· Everyone who owns any cryptocurrency by supporting sidechain interoperability between disparate blockchains, making crypto more flexible and functional.

· Anyone who uses the network by enabling even “smarter”, more sophisticated smart contracts.

Reducing Unspent Transaction Output (UTXO) Growth

The UTXO is a database that is maintained by each validating node in order to determine if a new transaction is valid or fraudulent. The database needs to be fast to query and modify and should be as small in size (in bytes) as possible. The more users on the network, the more UTXO entries there are to maintain, growing the size of the database.

Segwit makes signature data that does not impact the UTXO size cost 75% less than data that does increase the UTXO size. This encourages developers to design smart contracts and new features in a way that minimizes the impact on the UTXO set size.

Who benefits?

· Businesses and users who run full nodes, which in turn, helps maintain the current security of the network as more users enter the system.

· Users and developers who help minimize the growth of the UTXO set will benefit from lower fees compared to those who ignore the impact of their transactions on UTXO growth

Efficiency Gains When Not Verifying Signatures

The Blockchain network does not check signatures for transactions prior to the most recent checkpoint by default, trusting that has already been done by other nodes. Without SegWit, signature data is an integral part of the transaction and must be present to calculate the transaction hash.

Segregating the signature data allows nodes that aren’t interested in signature data to prune it from the disk, or to avoid downloading it in the first place, saving resources.

Who benefits?

· People running pruned nodes will be able to operate with less bandwidth and disk space.

Block Size Increase

Since old nodes will only download the witness-stripped block, they only enforce the 1 MB block size limit rule on that data. New nodes, which understand the full block with witness data, are therefore free to replace this limit with a new one, allowing for larger block sizes. SegWit raises the block size, after new cost limits are taken into account, to up to 2MB.

Who benefits?

· Users who run upgraded wallets will be able to take advantage of the increased block size by moving signatures to the witness section of the transaction.

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https://medium.com/@phoreblockchain/phore-blockchain-releases-segregated-witness-a-first-for-proof-of-stake-coins-with-masternodes-2459afc08a28

Phore will be accessible via 1100 crypto ATMs AND 50000 POS terminals. Mainstream adoption is coming!

https://i.imgur.com/ArqZVBF.jpg

A few million $USD. But they offer fiat pairings. Although PHR is not paired with fiat, people can still buy BTC for $ and buy Phore, so this acts as a fiat gateway!!!!

From @PhoreCrypto:

See our vision for the #Phore Blockchain ecosystem. This will include: #Sidechains, #SmartContracts, a decentralized #Marketplace & #Crowdfunding platform, #Scholarships, #Blockchain Services and more.

http://i67.tinypic.com/33k83sw.jpg

The Phore Andriod Wallet has been released!

https://i.imgur.com/hTyOrfY.png

My prediction:

NEO will achieve at least 50% the marketcap of ETH by the end of 2018.

It will become ETHs superior at some point in the future.

Hate away.

Time to look at the basics.

You've a finite amount of this 'digital asset' which has come through ridiculous amounts of regulation and other negative impacts, an ever increasing amount of demand for it and accessibility improving all the time. I very much doubt this 'stability' will last long!

Please visit discord. There are multiple support channels and plenty of people available to help!

This will be sorted in the next wallet release (very soon).

Phore will be Re-Branding to Phore Blockchain on February 24th 2018, along side the release of the new website.

Phore Blockchain will be the ecosystem, with the Phore ($PHR) currency a single element of this. This opens many doors to the project. More information will be released shortly!

https://twitter.com/PhoreCrypto/status/962473359933091840

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Phore are currently seeking developers Core developers.

The role of Core Developer would be to contribute towards the ongoing development of the Phore project.

Candidates are required to have experience in Blockchain development and to have expertise in: C++, GO and Python; 3+ years would be advantageous. Multi-platform experience on Windows, Linux, MAC, iOS and Android would also be preferable but not essential.

In the short - medium term, development tasks would include, but not be limited to:

* Segwit activation.
* The creation of the functional Smart Contracts within the Phore project.
* Assistance in the launch and further development of Phores Decentralized Marketplace.

This would require candidates to:

* Have full stack development skills in testing, and deployment.
* Possess the ability to build attractive, reliable application software.
* Prioritize and balance multiple projects.
* Be dependable and seize initiative.
* Have excellent communication and time management skills.
* Help towards the development and execution of the Phore vision.

If you meet the requirements and feel like this is the job for you, please don’t hesitate to send your CV to SagePHR@gmail.com. Alternatively, join us on discord at: discord.gg/Aucncz5 and send a direct message to Sage / Inbox me here. Excellent compensation + Large sign on bonus (released in increments). Payment to be made in PHR.

We're also seeking additional part time developers with similar skills.

Phore are currently seeking developers Core developers.

The role of Core Developer would be to contribute towards the ongoing development of the Phore project.

Candidates are required to have experience in Blockchain development and to have expertise in: C++, GO and Python; 3+ years would be advantageous. Multi-platform experience on Windows, Linux, MAC, iOS and Android would also be preferable but not essential.

In the short - medium term, development tasks would include, but not be limited to:

* Segwit activation.
* The creation of the functional Smart Contracts within the Phore project.
* Assistance in the launch and further development of Phores Decentralized Marketplace.

This would require candidates to:

* Have full stack development skills in testing, and deployment.
* Possess the ability to build attractive, reliable application software.
* Prioritize and balance multiple projects.
* Be dependable and seize initiative.
* Have excellent communication and time management skills.
* Help towards the development and execution of the Phore vision.

If you meet the requirements and feel like this is the job for you, please don’t hesitate to send your CV to SagePHR@gmail.com. Alternatively, join us on discord at: discord.gg/Aucncz5 and send a direct message to Sage / Inbox me here. Excellent compensation + Large sign on bonus (released in increments). Payment to be made in PHR.

We're also seeking additional part time developers with similar skills.

Could be a big few months!