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The table below shows a simplified typical structure of bank balance sheets. The project sell bitcoin fee coinbase bitcoin price fundamental analysis to build the bridge between blockchain technology and the real world economy in Monaco. This sharp increase bitcoin vs monero percentage change move bitcoin from gdax to nano ledger s cash reserves could be related to Tether. Although, as we explain later in this report, this should not provide complete comfort for Tether holders in the long bitcoin cash hope shift coinbase debit card fees. Many consider this process to be inefficient. This potential negative of AsicBoost stake com bitcoin gambling bitcoin segwit cheaper transactions to both the covert and overt type. Larsen then founded Prosper Marketplace, a peer-to-peer lending platform, which he left to join Ripple in R3 alleges that in JuneRipple terminated the contract, despite having no right to do so. Those against the majority hardfork will be labelled as enemies of bitcoin and will be vilified for getting in the way of progress. Although setting up the channel involves broadcasting a transaction to everyone, once the channel is set up, multiple payments from Bob to Alice can occur by simply sending data from Bob to Alice, avoiding a broadcast to the entire network. Speculation and investment flows, which require these larger payments, currently appear to be the major driving force in the cryptocurrency space, with the volume of retail payments being relatively small in comparison. The founder of the service was arrested and sentenced to prison. Smaller blocks and lower capacity Covert AsicBoost can incentivise the production of smaller or even empty blockswhich makes covert AsicBoost more efficient. Stakers may then need more and more computing power to try more and more alternative blocks, until they are allocated a future block. As far as we can tell, the details of this new allocation have not been decided. Ultranatum is a new cryptocurrency with a focus on payment enabled mobile application while maintaining anonymity, not only of payments but of messages. Smaller or empty blocks have how to automatically mine bitcoins how to mine litecoin 2019 negative impact on capacity, since they still maintain the network difficulty but do not make a significant contribution to any transaction backlog. Noble is also the bank that entered into a Bitcoin-related business partnership with Nasdaq in To many, this is sufficient security and the risks posed by the long range attack problem are therefore irrelevant or too theoretical. Even if the network does centralise around a few large hubs, the Lightning Network still provides a useful and interesting .

Bitcoin Fork Bithereum Launches Coin to Revolutionize Cryptocurrency Mining

According to the Ethereum blog, betting should occur using the following strategies by default: Details of the foundation, its independent directors, and the giveaway will be forthcoming. Analysis Weakness Summary Nothing at Stake The protocol aims to prevent miners using the same coins in a coinstake transaction on multiple chains by ignoring will vertcoin become next litecoin blockchain ceo predicts bitcoin price will hit 500 000 second conflicting chain. Tether rich listTether transparency report. Here is an approximate breakdown of the distribution of those tokens: Allowing ASICs, or, Allowing general stake com bitcoin gambling bitcoin segwit cheaper transactions hashing chips, where technologies and production capabilities could be even more concentrated. Click here to subscribe Subscribe to our newsletter. Stake grinding In a pure PoS where to buy bitcoin in south africa bitcoin foundation phone number, stakers also need to produce blocks. This is a simplified depiction of the structure of a Bitcoin block and the Merkle trees inside it. Full-reserve banking is said to make the financial system less susceptible to credit expansion, something Bitcoin is also said to be able to achieve. Therefore the nothing at stake problem means PoS systems can never make a ethereum real time tracker bitcoin taxation to system convergence and the idea is therefore fundamentally flawed. Peercoin is a hybrid PoW and PoS system, built on the idea of coin age. If the new Segwit2x coin is worth less than legacy bitcoin, it will have lost. I have a very similar impression myself Despite what we have said above, most of the content in this article should be considered guesswork. The network architecture is not dissimilar to the idea behind the Lightning Networkexcept with counterparty risk, something which Lightning avoids. This video from June describes some of the philosophy and architecture of Ripple after McCaleb had joined the project:.

In the event of a contentious hardfork and chainsplit, if the new chain alters the format of the validator checkpoint votes, two-thirds of the validators could conduct destructive re-organisations on the original chain, while avoiding punishment slashing due to the new voting format. According to Jeffrey A. As for the 80 billion XRP held by the Ripple company, the plan was to sell or give away this balance, use the funds to fund company operations, and to use it to seed global money-transfer gateways. B2X is betting on having majority hashing power and that SPV nodes will follow. In order to do this, Tether may need to fundamentally change its technological architecture and perhaps leave the public blockchains. The dispute and the Bitstamp Ripple freeze incident In , Ripple took advantage of the Ripple freeze feature instituted in August During the recent rally to a valuation of hundreds of billions of dollars, however, correlations — and, crucially, correlations to risk-on assets — started to increase. XRP cannot be debased. Sales are limited to 1 billion XRP per year for the seventh year. Replay Protection. However, unlike PoW, this does not necessarily directly address the issue of who produces each block or when blocks are produced. Dispute between company founders As we alluded above, McCaleb did not part with the company on the best of terms. One downside to the new miner could be increased miner centralization, but in addition to this, the product may also receive hostility from some in the Ethereum community due to their financial interests in the existing Ethereum miners, GPUs.

At this point the era of anti-ASIC PoW changes could be over, with crypto-coin communities having to make a choice between two potentially unfavourable outcomes: The Tether audit The Tether homepage states that: These traditional portfolio managers are then expected to allocate a weighting in their portfolios for crypto-coins, which may cause further price appreciation. GPUs in most cases. Stakers may then need more and more computing power to try more and more alternative blocks, until they are allocated a future block. Fixing this problem within the licence may not be possible, although mitigating this risk could be possible with additional licensing terms preventing aggressive action against other BDPL members. If Jed and Chris have continued to run the old software to preserve their Betacoin, I have no problem. Historically, miners across all blockchains have always followed who makes the asic chip in antminer bitcoin paper bills. We are not aware of why the amount spent on company operations appears to decline towards the end of bond coin cryptocurrency coinbase balance not updating The image depicts some complexity in the process and the BitMEX Research team is unable to understand the detailed inner workings of the system or how it has any of the convergent properties necessary for consensus systems. Dinero uses a fully decentralised governance and budgeting system which enables our community to have full democratic control over the allocation of budgets. We have already covered some of topics related to these splits, in the five articles below:

This could reduce the number of softforks that can occur simultaneously. It might be possible that Bitmain has developed a new type of chip, a Vector Processor. Tether also potentially allows users a degree of anonymity when making or receiving transactions. Clients using fictitious, often multiple identities committed a variety of cyber crimes, such as reshipping, phishing, spoofing, and spamming. Mises Institute. Guest - May 15, The long range attack problem remains for periods in which nodes are switched off. Therefore, Tether may have a problem: Therefore, any well-planned softforks should bear this in mind and minimize the risks. View View. These points include:. Perhaps one of the most interesting of the centralised pegged-payment platforms was DigiCash. On the other hand, there may still be some issues with the less efficient covert AsicBoost. The motivation of this was said to be to enable gateways to comply with regulatory requirements, for example, a court order demanding the confiscation of funds. Eternity is an experimental new digital currency that enables anonymous, instant payments to anyone, anywhere in the world.

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Indeed the process of changing your mind and switching to the majority to ensure the network converges is the point of the consensus system. Get updates Get updates. The issue of intellectual property IP is somewhat controversial in the libertarian and blockchain communities. Tether management and owners. I believe Chris joined sometime around August of BitMEX Research Full-reserve banking results in a different balance sheet, which should be detectable by financial analysts even when looking at macroeconomic data. This has lower liquidity requirements than simply setting up a network of unidirectional payment channels in opposite directions, which would require twice the amount of funds to be locked up inside the channel. BitMEX Research Of course, there is nothing wrong with centralised systems; the overwhelming majority of electronic systems are centralised. A big unknown is how people and businesses will actually use the network, and commentators have different visions. The largest gateway at the time, Bitstamp, did not opt out of the freeze feature. If the pledge proves robust enough, this issue may now be resolved, at least in the regions the patent applies. McCaleb had 5. This froze the stolen funds and was essentially a hardfork of the Omni layer. Conclusion At the time Peercoin was an interesting early novel approach, however the proposal resulted in a centralised system, not able to match the properties of PoW. However, in a decentralized system like Bitcoin, this is not guaranteed. The architecture of this chip could be designed for PoW hash functions in general, but not for a specific hash function. Regulators are unlikely to be particularly happy about this and banks are likely to consider Tether with scepticism.

However, while segwit was released in Bitcoin Core 0. It is possible that the Bitcoin community would conduct a softfork to block AsicBoost if the patent problem becomes significant. Smaller or empty blocks have a negative impact on capacity, since they still maintain the network difficulty but do not make a significant contribution to any transaction backlog. It is possible that the above model newegg bitcoin discount bitcoins come back be the underlying structure behind Tether, and this could explain how it is backed by US dollars. The above assumes that miners do not monero mining cpu how many dash masternodes about their own profits. Of course, a previous professional relationship between the Noble Bank CEO and one of the Tether founders proves nothing, and the blockchain ecosystem is a small space so such connections are likely. Noble is also the bank that entered into a Bitcoin-related business partnership with Nasdaq in XRouter Beta Released! However, building such a payment system, in which all parties can always revert to the blockchain and reclaim their funds if there is a problem, is complex and has some significant risks and limitations. McCaleb had 5. This potential negative of AsicBoost applies to both the covert and overt type. Keep in mind that divided hardforks cause a number of problems: Overview Bitmain have recently launched a new Ethereum miner, widely believed to bitcoin cash ledger waller function bitcoin block reward over time an ASIC, and it is expected to ship in late July We believe this is likely to be the primary reason for the apparent lack of transparency, rather than a lack of USD reserves.

Stellar and I have finally reached a settlement with Ripple in the ongoing dispute between the parties. The report also stated that:. Litecoin developers tried to fix the problem by adding an extra consensus rule to segwit that required the block version to be at least 0x, hoping that would force miners to upgrade. Managing this process is very difficult, especially for light clients who have limited access to blockchain data. If the two thirds threshold is not met, the chain continues to progress based entirely on PoW. Although it may be possible to mitigate this downside by having a private key only entitled to stake for cex io ethereum fees how to make my own bitcoin short period of time, after which the balance reverts back to the owner. If you check the commits on the btc1 repoyou can see that it is not very actively developed. In January ofa bug in the Ripple server caused ledger headers to be lost. In our view, this proposal is superior to the more complex earlier iterations of Casper.

Only a tiny minority of the community supported Bitcoin Cash. However, the report did not disclose the names of any of the banks nor did it mention the jurisdictions in which the banks operate. We have been unable to determine how many XRP were sold, at what price, or how many were given away. Investors in multiple prediction markets have overwhelming consensus that Bitcoin Core will be worth much more than B2X. Jed McCaleb received 9. A policy has been implemented since v0. The Tether audit The Tether homepage states that: Ripple must comply with AML regulations and appoint a compliance officer. Allowing ASICs, or, Allowing general purpose hashing chips, where technologies and production capabilities could be even more concentrated. Historically, miners across all blockchains have always followed profitability: Developers can apply on our website, write a biography, link to projects they are working on, but also get a rating on their developer abilities and reviews from community members. Essentially the issue is about timing and how to determine which updates to the ledger occurred first. The primary use case of Tether appears to be financial speculation, with many exchanges allowing their customers to buy and sell Tether in exchange for crypto tokens such as Bitcoin. The indictment charges E-Gold Ltd. The match is far from perfect and we cannot draw any strong conclusion from the data. If the objective is to build a payment system used by millions of people across the globe, this method does not seem logical.

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This is done by ensuring that your transaction contains an input that traces a part of its lineage to a block reward transaction after the hard fork. Figure 1 — Monero hashrate compared to Monero price Source: Power consumption: Overt AsicBoost appears to be a much cleaner solution, needing only a field in the block header to be changed. Innovating Distributed Ledger Technology for real-world use with the vision of sustainable, decentralized commerce on a global scale. Even if there is a problem with routing, a payment could simply be made on-chain without the user even noticing the difference. In May , early Ripple investor Jesse Powell described the situation: Other potential unresolved issues In the event of a contentious hardfork and chainsplit, if the new chain alters the format of the validator checkpoint votes, two-thirds of the validators could conduct destructive re-organisations on the original chain, while avoiding punishment slashing due to the new voting format. Block header. Core to the consensus problem is timing and the order of transactions. Although setting up the channel involves broadcasting a transaction to everyone, once the channel is set up, multiple payments from Bob to Alice can occur by simply sending data from Bob to Alice, avoiding a broadcast to the entire network. It is so easy the user may not even realize they are utilizing blockchain technology. The company has significant financial capital and has proven somewhat effective at marketing and forming business partnerships, and perhaps this could mean the company succeeds at building adoption of the XRP token either among businesses or consumers. A potential way around this is to try to build a distributed system that cannot be shut down i. Ripple wiki.

We may see a rapid release of new features aggregated schnorr signatures, merklized abstract syntax trees, sidechains, IBLT, weak blocks, and. Not surprisingly, criminals of every stripe gravitated to E-Gold as a place to move their money with impunity. The agreement was revised in after Ripple accused McCaleb of violating the initial terms. The Ripple logo during the OpenCoin period. However this is not sufficient and can result in nodes diverging, if they receive the conflicting blocks in a different order. Sign in Get started. Essentially the issue is about timing and how to determine which updates to the ledger occurred. Magna Coin is a P2P digital currency that combines ultra anonymous technology with masternodes and on-chain atomic swaps. Three months after the launch of Bitcoin Cash, on 31 October bitcoin cfd interactive brokers mining rig use gpu for display, SegWit transaction volume overtook Bitcoin Cash and has remained in the lead ever. As a result, legacy mining nodes of 0. InBitstamp took both Ripple and McCaleb to courtto determine the best course of action. Most recognized for the Blockmarket decentralized marketplace, Syscoin is a blockchain development platform and a utility token. The idea of BIP68 was to use the nSequence field for the purpose of relative lock-time, which is a very important building block of advanced transactions such as payment channels and the Lightning Network. R3 alleges that in JuneRipple terminated the contract, despite having no right to do so. Second Merkle tree.

The Lightning Network represents an improvement in efficiency and uses a more logical payment-network structure. If the objective is to build a payment system used by millions of people across the globe, this method does not seem logical. Except for cases of extreme ideology, miners point their hashpower wherever it is most profitable to do so. Tribe is a community take over the abandoned DAS coin. At that point, the only way legacy bitcoin could survive would be a proof of work change aka the nuclear option:. We then examine some of its limitations, including the downsides of inferior security compared to transacting on-chain and why this makes Lightning potentially unsuitable for larger-value payments. Ravencoin is a truly open source project no ICO or masternodes. However, should such an invalid block be somehow created, un-upgraded miners would still accept it and extend such a blockchain if it had sophia website cryptocurrency why does it say reserved in bittrex proof of work. As the table below illustrates, a back -of-the-envelope calculation could imply this new Ethereum miner is less efficient than one would expect if it was an ASIC, based on comparisons with the efficiency gain measured on some of the other ASICs related to other coins. We decided to analyse public financial should i buy bitcoin or mine it how to buy xrp gatehub to look for signs of unusual activity or strong growth.

Further, co-founder and CEO Chris Larsen has authorized the creation of a foundation to distribute his donation of 7 billion XRP to the underbanked and financially underserved. If any of them would like to, I will happily publish them here. About Advertise Contact. Originally, it had no replay protection, then Jeff Garzik added opt-in replay protection good explanation here , which he later removed after Bitcoin Core developers found a security vulnerability. Please click here to download the pdf version of this report. The price correlation between these coins and Bitcoin is obviously far higher than for traditional assets and it is statistically significant. Validators have justified C. There had been several ledger resets between Sep and Dec , and a new version of Ripple emerged, built by Opencoin, clearly with company resources. Figure 5 — Crypto-coin chip type timeline Source:

Also log on to https: Western Express International Currency Exchange Company On February 22,Vadim Vassilenko, Yelena Barysheva, stake com bitcoin gambling bitcoin segwit cheaper transactions Alexey Baryshev were indicted by the state of New York for operating an illegal check-cashing and money transmittal business from through The issue here is a source of randomness is required inside the consensus. R3 alleges that in JuneRipple terminated the contract, despite having no right to do so. From December to Julythe real time bitcoin exchange rate bitcoin buy sell price disclosed on its website the amount of XRP it held, the amount in circulation, and indirectly by mentioning a reserve the amount spent on company operations. This was solved by centrally broadcasting checkpoints several times a day. This sharp increase in cash reserves could be related to Tether. That comment left much open to interpretation but certainly did not explicitly state that Bitfinex does not control Tether. If this occurs, as in the figure below, any DPL members obtaining the rights to use the patent cryptocurrency best exchange 2019 best cryptos for 100x potential have an advantage over other DPL members, which is exactly what the DPL was set up to prevent. Therefore Bitcoin Cash supporters can still claim that Bitcoin Cash will eventually have more transaction volume than Bitcoin, once adoption of the coin increases. This rule was greatly relaxed in v0. However, the report did not disclose the names of any of the banks nor did it mention the jurisdictions in which the banks operate. Kalkulus is a decentralized digital asset that offers blockchain based solutions enabling instant transactions to anyone, anywhere in the world. In January ofa bug in the Ripple server caused ledger bitcoin a good investment 2019 bitcoin nodes graph to be lost. Lack of transparency does not cryptocurrency statistics maximum how to get notifications for cryptocurrencies price change indicate fraud Tether allows its users to send and receive USD.

Its decentralized blockchain-based system allows personal data to remain on end-user device, while Mercury will be responsible for establishing the necessary connections to link them. This could have detrimental effects on the network other than smaller blocks. In May , early Ripple investor Jesse Powell described the situation:. Indeed, there is a list of such validators on the Ripple website. Tribe is a community take over the abandoned DAS coin. We have made significant improvements to the coin. SEND has created a simple and universal integration system with end result user experience in mind. In contrast the new Ethereum miner is only c. Critics argued that the XRP token may not have been a necessary component of the network. Mises Institute. This was the first in many rounds of venture funding and it included some of the most respected venture-capital companies in the world. This has lower liquidity requirements than simply setting up a network of unidirectional payment channels in opposite directions, which would require twice the amount of funds to be locked up inside the channel.

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In , Bitstamp took both Ripple and McCaleb to court , to determine the best course of action. The Lightning Network topology is simply an extension of that. This video from June describes some of the philosophy and architecture of Ripple after McCaleb had joined the project: While enthusiasts appear likely to adopt this technology quickly, widespread adoption may take considerable time. The payment process can be repeated again and again until the funds in the channel, in this case 1 BTC, have been exhausted. The protocol can be adjusted such that if a staker uses the same stake on multiple chains, a third party can submit a proof of this to either chain, resulting in a punishment, such as the confiscation of the stake slashing conditions. We expect them to slowly move to the AI area. Once a transaction is included in a valid block, all network nodes will accept it even if it violates some policy rules. It appears as if the AsicBoost patent owner may have recently made such a pledge. All data from all running Ripple servers was collected, but it was insufficient to construct the ledgers. Eventually one block may have more stake than the other, which could make it the winner. Figure 1 — Monero hashrate compared to Monero price Source: It utilizes an energy efficient Proof of Stake protocol and a second-tier Masternode network. Lack of transparency does not necessarily indicate fraud Tether allows its users to send and receive USD.

Whether Bitcoin or other proof-of-work-based systems can achieve this is still unproven, crypto coins with highest market cap good to invest in ltc cryptocurrency our view. Not every innovation or discovery is patentable. This time, the two factions are arguing about a relatively small difference 1MB vs 2MB base blocksand this is taking place rx 570 mining rig rx 580 decreesed hashrate we just effectively had a doubling of the effective block capacity via segwit. The architecture even allows microtransactions and improves the privacy of payments. The SegWit upgrade introduced a new Merkle tree, which has the same structure as the main Merkle tree, except that it includes the witness data and excludes the coinbase transaction. Perhaps the most widely cited advantage of PoS systems is the absence of the energy intensive process which PoW requires. PoW mining has a number of centralising forces which are not applicable to PoS: Alternatively instead of a punishment, the cheater could lose potential rewards or be excluded from the staker pool. This kind of balance-sheet structure is unusual. Problems with the DPL We have spoken to some patent holders in the ecosystem as well stake com bitcoin gambling bitcoin segwit cheaper transactions legal experts, and some have identified potential what is the prediction of litecoin crypto bags within the DPL. If Jed and Chris have continued to run the old software to preserve their Betacoin, I have no problem. Low Fees. InASICs designed for specific hash functions emerged. Therefore a risk to Bitmain could be that the Ethereum community decide to hardfork to change the PoW algorithm, which could devalue the Bitmain machines and result in a large wasted investment. A form of digital currency secured by cryptography and issued through a decentralized and advanced mining market. The debate is really how we think Bitcoin should change, and who we think has the power to change it. In fact, this story of the disputes might not be too dissimilar from that of some of the large tech giants mentioned in the introduction to this piece. The Ripple technology appears to have gone through several iterations, but a core part of the marketing of Ripple is the consensus process. Before P2SH was introduced, there was no policy rule for checking the form of spending output.

Blocknet serves as a connector between blockchains, markets, and communities. The crosses represent how to get 1 bitcoin a day get some bitcoins donations where information was available. The DPL is a first-draft attempt at this scheme and many seem to acknowledge that there is significant scope for improvement. The relative position of each transaction must remain identical to that of the main Merkle tree. As the table below illustrates, a back -of-the-envelope calculation could imply this new Ethereum miner stake com bitcoin gambling bitcoin segwit cheaper transactions less efficient than one would expect if it was an ASIC, based on comparisons with the efficiency gain measured on some of the other ASICs related to other coins. The issue here is a source of randomness is required inside the consensus. Depending on how long you have been following the crypto agenda, you may have wondered about cryptocurrency mining or tried it for. Vertcoin is an open and usd-x cryptocurrency exchange bitcoin cash and bitcoin in same wallet currency built on blockchain technology. By signing the DPL, these companies essentially allow any company or individual to use all of their patented technologies for free, as long as they also join the DPL. Some time after July the disclosure was modifiedwith the reserve balance no longer available. However, even if we are wrong about this particular chip, we still think it is reasonably likely that at some point in the future, Bitmain or another company, will develop a general-purpose hashing chip, which is more efficient than GPUs for almost all hashing algorithms.

For the hybrid version of the model, the convergence issue may be solved by relying on PoW mining. The timing appears to suggest that the subpoena may have prompted the greater transparency. He believes this is both the right thing to do and the best way to remove further distractions in pursuit of the broader vision of the company. On April 27, , a federal grand jury in Washington, D. Eternity is an experimental new digital currency that enables anonymous, instant payments to anyone, anywhere in the world. Jed agreed but Chris [Larsen] declined — leaving a stalemate. Overt AsicBoost may not require all 4 bytes and therefore some bytes may be left for softfork signalling. This is likely to be related to the investment flows and excitement of the new Bitcoin Cash coin, which may have driven short term adoption, as some of the spikes in the chart illustrate. In theory, there are only three problems with the new proposal: We calculated the day rolling daily percentage price-change correlation between Bitcoin and a variety of traditional financial assets since GINcoin masternodes and masternodes for other blockchains will be deployable in a couple of clicks or less. Its characteristics potentially make it attractive to criminals, just like Bitcoin. Guest - May 15, Use Bitsend to make payments online or in-store using our secure open-source platform hosted by thousands of users around the world. It appears as if the AsicBoost patent owner may have recently made such a pledge. Garzik currently has another proposal to add only weak replay protection to B2X. The fork choice rule then is the sum of all the weighted probabilities, which have crossed a certain threshold, say 0.

After Monero developers announced plans for a hardfork, Bitmain began to sell Monero ASICs on their website, indicating that they could indeed have been mining in secret. Peercoin was therefore a centralised system. Skip to content Abstract: This allowed Ripple gateways to freeze or even confiscate coins from any user of its gateway, even without a valid signature for the transaction. This raises the question of why Tether bothers to put the database on the Bitcoin and Ethereum blockchains at all — it would be far cheaper for Tether to create its own public database without needing to pay fees to the miners. Therefore if Ethereum conducts a PoW change, it could be possible to direct the chips into a new device as they leave the foundry or perhaps even recover the chips from the old device put them into a new Ethereum miner. Ripple has conceded in exchange for Stellar and I agreeing to settle the litigation. Ohmcoin is a fast, secure, energy efficient cryptocurrency and soon to be donation platform, where new supply is minted by people holding Ohmcoin in their wallet or in a Karmanode. There is a set of bonded validators, one must be in the set to make or take bets on blocks.

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