In late November, the creators of the Simple Ledger Protocol announced the launch of Ledger Treasure, a contest in which contestants must solve a puzzle to win over $100 worth of bitcoin cash (BCH). On Dec. 6, Simple Ledger developer James Cramer revealed the winner of the first puzzle solved by gaining access to the BCH funds locked in a special P2SH address.
Also read:
Simple Ledger Treasure
Developers of the (SLP) project are hosting a that offers the chance to win over $100 worth of BCH for solving a puzzle. The team will be giving away BCH after crafting a solvable puzzle and publishing it with the project’s monthly . On Dec. 6, the first winner received 1 BCH for unlocking the funds contained in a bitcoin cash P2SH address. The first issue of the Ledger Treasure newsletter sent out to registrants contained the maiden puzzle, called “Stashed Cash 1.” The 1 BCH of locked funds in a P2SH address was solved one hour after the puzzle was published, explained its creator .
The first thing people need to do to solve the puzzle is load a script template JSON file into the website, a tool that enables a P2SH spend, a calculator, and oracle. After loading the template, the user needs to actually search for the address with the funded BCH inside. If the treasure hunter doesn’t understand much about then the puzzle gives a great lesson about the protocol. In order to complete it, the contestant needs to fill in the blanks within the “redeem script” section. A math equation is then presented within the script template which shows the basics of how stack-based math operates.
“The final requirement of this puzzle was to interact with the Ledger Treasure Newsletter, which is accomplished using the ‘Oracles’ tab of the website,” explained Cramer’s blog post on the subject. “The oracle’s public key was required for the redeem script section and the unlocking script section oracle’s signature was required for the unlocking script section in the ‘Spend P2SH’ tab,” the developer added.
The creator of the Ledger Treasure Newsletter hunt continued by stating:
The only way to obtain a valid signature for this puzzle is to first be a subscriber of the Ledger Treasure newsletter.
More Difficult bitcoin Cash P2SH Puzzles Are on the Way
Cramer concluded that the first puzzle was a success and stated that at least three other challengers solved it within three days. The Simple Ledger developer said that he looks forward to devising more puzzles and that the first one wasn’t that hard. Eventually, the creator intends to make the puzzles significantly more difficult as time passes but still wants to create simple puzzles for new visitors. Cryptocurrency enthusiasts who want to attempt to solve the next Ledger puzzle need to before the second edition is published on the first of January.
What do you think about the Simple Ledger treasure hunt? Let us know what you think about this subject in the comments section below.
Images via the Ledger Treasure newsletter, SLP, and Shutterstock.
Need to calculate your bitcoin holdings? Check our section.
The post appeared first on .
South Korea will push for major cryptocurrency adoption, claims a new report, strengthening the spotlight on the tech hub which forms one of the most crypto-friendly countries in the world.
Also read:
South Korea’s Enthusiasm for Tech
As one of the most innovative countries in the world, it’s no surprise the tech-savvy population of South Korea has been quick to take to cryptocurrencies and blockchain technology. In fact, the small country makes up around 30 percent of global cryptocurrency trading, despite having a population of little over 51 million.
Now, a by fintech company Cindicator has stated that the country is going to play an even bigger role in the adoption of cryptocurrencies in the future, partly due to its highly developed cryptocurrency exchange infrastructure and regulatory and taxation framework. The report claims:
These projects and their eventual success are obviously a great indication of what crypto believers in the country feel the new technology could do in the future.
The report states that it is because of exchanges such as Bithumb – the country’s largest – that South Korea ranks so highly worldwide in terms of the sheer volume of trading. As well as the country housing major exchanges such as Upbit, Korbit, and Coinone, it is home to a number of crypto and blockchain projects, which are a “great indication of what crypto believers in the country feel the new technology could do in the future.”
The report notes the many occasions when the announcement of a new altcoin listing on a South Korean exchange saw its value skyrocket. South Koreans have been quick to get involved with crypto because of the desire to reap potentially large profits and an enthusiasm for the technology itself.
Greater Regulation Coming Soon
The South Korean government this week announced it would be taxing cryptocurrencies and initial coin offerings – despite bitcoin and other cryptocurrencies being exempt from capital gains tax since 2013. But the government fully understands the potential of blockchain technology, having recently announced 1 trillion won (USD $880 million) to spend on blockchain development in 2019.
The newly elected mayor of Jeju Island, Won Hee-ryong, who ran on a pro-blockchain and cryptocurrency ticket, provides further evidence to suggest that South Korea will play a pivotal role in advancing global adoption of cryptocurrencies and their underlying technology.
What do you think about the role South Korea will play in the future of global cryptocurrency adoption? Let us know in the comments section below.
Images courtesy of Shutterstock.
Express yourself freely at bitcoin.com’s user forums. We don’t censor on political grounds. Check .bitcoin.com.
The post appeared first on .
