Merge branch 'master' into patch-2

.gitignore

@@ -7,3 +7,4 @@ wp.log
 wp.run.xml
 .DS_Store
 target/
+Gemfile.lock

.rultor.yml

@@ -3,6 +3,8 @@ docker:
 assets:
   id_rsa: "zerocracy/home#assets/blog/id_rsa"
   id_rsa.pub: "zerocracy/home#assets/blog/id_rsa.pub"
+install: |
+  bundle update
 merge:
   script: |
     rake

Gemfile

@@ -0,0 +1,23 @@
+# Copyright (c) 2018 Yegor Bugayenko
+#
+# Permission is hereby granted, free of charge, to any person obtaining a copy
+# of this software and associated documentation files (the 'Software'), to deal
+# in the Software without restriction, including without limitation the rights
+# to use, copy, modify, merge, publish, distribute, sublicense, and/or sell
+# copies of the Software, and to permit persons to whom the Software is
+# furnished to do so, subject to the following conditions:
+# The above copyright notice and this permission notice shall be included in all
+# copies or substantial portions of the Software.
+#
+# THE SOFTWARE IS PROVIDED 'AS IS', WITHOUT WARRANTY OF ANY KIND, EXPRESS OR
+# IMPLIED, INCLUDING BUT NOT LIMITED TO THE WARRANTIES OF MERCHANTABILITY,
+# FITNESS FOR A PARTICULAR PURPOSE AND NONINFRINGEMENT. IN NO EVENT SHALL THE
+# AUTHORS OR COPYRIGHT HOLDERS BE LIABLE FOR ANY CLAIM, DAMAGES OR OTHER
+# LIABILITY, WHETHER IN AN ACTION OF CONTRACT, TORT OR OTHERWISE, ARISING FROM,
+# OUT OF OR IN CONNECTION WITH THE SOFTWARE OR THE USE OR OTHER DEALINGS IN THE
+# SOFTWARE.
+
+source 'https://rubygems.org'
+ruby '2.3.1'
+
+gem 'rainbow', '~>3.0'

Rakefile

@@ -1,6 +1,7 @@
 # encoding: utf-8
 
 require 'open3'
+require 'rainbow'
 
 def run(cmd)
   print "#{cmd} "
@@ -57,19 +58,24 @@ task :pdf do
         next
       end
       run("pdflatex #{opts} #{f}")
-      run("cd ../target; biber --output-directory=../target #{name}")
+      run("biber --output-directory=../target #{name}")
       run("pdflatex #{opts} #{f}")
       run("pdflatex #{opts} #{f}")
-      log = File.read("../target/#{name}.log")
-      [
-        'LaTeX Warning',
-        'Overfull ',
-        'Underfull '
-      ].each do |txt|
-        if log.include?(txt)
-          puts(log)
-          raise 'LaTeX output is not clean'
+      log = File.readlines("../target/#{name}.log")
+      colored = []
+      errors = 0
+      log.each do |line|
+        ['LaTeX Warning', 'Overfull ', 'Underfull '].each do |prefix|
+          if line.start_with?(prefix)
+            line = Rainbow(line).red
+            errors += 1
+          end
         end
+        colored << line
+      end
+      unless errors.zero?
+        puts(colored.join)
+        raise "LaTeX output is not clean, there are #{errors} errors, see above"
       end
     end
   end

main.bib

@@ -56,7 +56,8 @@ @article{pilkington2016
   journal={Research Handbook on Digital Transformations},
   pages={225},
   year={2016},
-  publisher={Edward Elgar Publishing}
+  publisher={Edward Elgar Publishing},
+  url={https://www.researchgate.net/publication/301604099_Blockchain_Technology_Principles_and_Applications}
 }
 
 @inproceedings{karame2012,

tex/green-paper.tex

@@ -3,24 +3,36 @@
 \usepackage[american]{babel}
 \usepackage{bookmark}
 \usepackage{microtype}
+\usepackage{setspace}
+  \setstretch{1.15}
 \usepackage[style=authoryear,sorting=nyt,backend=biber,
   hyperref=true,abbreviate=true,
   maxcitenames=1,maxbibnames=1]{biblatex}
   \renewbibmacro{in:}{}
   \addbibresource{../main.bib}
 \usepackage{xcolor}
+  \definecolor{dgreen}{RGB}{62,100,62}
+  \definecolor{lgreen}{RGB}{249,255,249}
+  \pagecolor{lgreen}
 \usepackage{graphicx}
-\pagecolor{green!3}
 \usepackage{hyperref}
   \hypersetup{colorlinks=true,allcolors=blue!40!black}
 \setlength{\topskip}{6pt}
 \setlength{\parskip}{6pt} % before par
 
+\DeclareCiteCommand{\citea}
+  {\boolfalse{citetracker}\boolfalse{pagetracker}\usebibmacro{prenote}}
+  {\href{\thefield{url}}{\printnames{labelname}}}
+  {\multicitedelim}
+  {\usebibmacro{postnote}}
+
 \include{_version}
-\title{\includegraphics[scale=0.3]{../images/logo.pdf}\\Zold: A New Cryptocurrency\\\colorbox{green!30}{Green Paper}}
+\title{\includegraphics[scale=0.3]{../images/logo.pdf}\\
+  Zold: A New Cryptocurrency\\
+  {\small\colorbox{dgreen}{\color{lgreen}{Green Paper}}}}
 \author{Yegor Bugayenko\\
   \texttt{[email protected]}\\
-  \href{https://www.zold.io}{www.zold.io}\\[1em]
+  \href{https://www.zold.io}{\texttt{www.zold.io}}\\[1em]
   \href{https://github.com/zold-io/papers/releases/tag/\zoldversion}{\texttt{\zoldversion}}}
 
 \begin{document}
@@ -31,53 +43,53 @@
 In the last few years digital currencies have successfully demonstrated
 their ability to become an alternative financial instrument in many
 different markets. Most of the technologies available at the moment are
-based on the principles of Blockchain architecture, including
-dominating currencies like Bitcoin and Etherium. Despite its
+based on the principles of \href{https://en.wikipedia.org/wiki/Blockchain}{Blockchain} architecture, including
+dominating currencies like \href{https://bitcoin.org/}{Bitcoin} and
+\href{https://ethereum.org/}{Ethereum}. Despite its
 popularity, Blockchain is not the best possible solution for all scenarios.
 One such example is for fast micro-payments.
-Zold is an experimental alternative that enables distributed transactions between
+\href{https://www.zold.io}{Zold} is an experimental alternative
+that enables distributed transactions between
 anonymous users, making micro-payments financially feasible and fast.
-It borrows the ``proof of work'' principle from Bitcoin,
-and suggests a different architecture for digital wallet maintenance.
+It borrows the ``\href{https://en.wikipedia.org/wiki/Proof-of-work_system}{proof of work}'' principle from Bitcoin,
+and suggests a different architecture for digital wallet maintenance,
+explained in details in the \href{https://papers.zold.io}{White Paper}.
 
 \pagebreak
 
 \section*{The Market}
 
-Since its release in 2009, Bitcoin from
+Since its release in 2009, \href{https://bitcoin.org/}{Bitcoin} from
 ``a libertarian fairy tale'' and ``a simple Silicon Valley exercise in hype''
 turned into ``a catalyst to reshape the financial system in ways that are more
-powerful for individuals and businesses alike,'' according to \citeauthor{andreessen2014}
-in \citetitle{andreessen2014}.
-Even though \citeauthor{cheah2015} argues in \citetitle{cheah2015} that
+powerful for individuals and businesses alike,'' according to \citea{andreessen2014}.
+Even though \citea{cheah2015} argues that
 ``the fundamental value of Bitcoin is zero,''
 it seems that ``the question is not whether Bitcoin has value; it already does,''
-according to \citeauthor{van2014}.
+according to \citea{van2014}.
 ``The question is whether the efficiencies of a cybercurrency
-like Bitcoin can be merged with the certainties of an honest central bank,''
-they said in \citetitle{van2014}.
+like Bitcoin can be merged with the certainties of an honest central bank.''
 
 The core component of Bitcoin is Blockchain technology, which
 ``ensures the elimination of the double-spend problem, with the help
 of public-key cryptography'' and ``coins are transferred by the
 digital signature of a hash,''
-explains \citeauthor{pilkington2016} in \citetitle{pilkington2016}.
-Very soon after Bitcoin was created, similar products were introduced,
+explains \citea{pilkington2016}.
+Very soon after \href{https://bitcoin.org/}{Bitcoin} was created, similar products were introduced,
 which were also based on the principles of Blockchain, such as
-Etherium by \citeauthor{buterin2013}, presented in \citetitle{buterin2013}.
-
-Even though Blockchain is a sound solution to the double-spending
-problem, there could be other solutions,
-including different ``proof-of-X'' alternatives.%
-For example, \citeauthor{everaere2010} gave
-a summary of them and introduced their own in \citetitle{everaere2010},
-\citeauthor{boyen2016} described
-``a truly distributed ledger system based on a lean graph of cross-verifying transactions''
-in \citetitle{boyen2016},
-recently IOTA, a ``tangle-based cryptocurrency,'' was launched by
-\citeauthor{popov2017} and explained in \citetitle{popov2017},
-Hashgraph claims in their \citetitle{hashgraph}
-to be ``the world's first mass-adopted public distributed ledger'',
+\href{https://ethereum.org/}{Ethereum} by \citea{buterin2013}.
+
+Even though Blockchain is a sound solution to the
+\href{https://en.wikipedia.org/wiki/Double-spending}{double-spending problem},
+there could be other solutions,
+including different ``proof-of-x'' alternatives.
+For example, \citea{everaere2010} gave
+a summary of them and introduced their own,
+\citea{boyen2016} described
+``a truly distributed ledger system based on a lean graph of cross-verifying transactions,''
+recently \href{https://www.iota.org/}{IOTA}, a ``tangle-based cryptocurrency,'' was launched by
+\citea{popov2017},
+\citea{hashgraph} claims to be ``the world's first mass-adopted public distributed ledger'',
 and so on.
 
 \pagebreak
@@ -91,62 +103,114 @@ \section*{The Problems}
 two obvious disadvantages present in the majority of all existing cryptocyrrencies:
 
 The first problem is that transaction processing is rather slow.
-Current rates for Bitcoin processing speed is 7 transactions per second (tps)
+\href{https://goo.gl/sWiAWc}{Current rates} for \href{https://bitcoin.org/}{Bitcoin}
+processing speed is 7 transactions per second (tps)
 while Paypal handles an average of 115 tps and the VISA
 network has a peak capacity of 47,000 tps.
-\citeauthor{karame2012} says in \citetitle{karame2012}
-that ``Bitcoin requires tens of minutes to verify a transaction
+\citea{karame2012} says that
+``Bitcoin requires tens of minutes to verify a transaction
 and is therefore inappropriate for fast payments.''
 It is inevitable, since
 ``processing speed is at odds with the security aspects of the underlying
 proof-of-work based consensus mechanism'' according
-to \citetitle{kiayias2015} by \citeauthor{kiayias2015}.
-Ethereum, according to \citetitle{fekkes2018} by \citeauthor{fekkes2018}, can process
+to \citea{kiayias2015}.
+\href{https://ethereum.org/}{Ethereum}, according to \citea{fekkes2018}, can process
 ``two times more transactions per second than Bitcoin is able to do,''
 but this still is rather slow.
 
-The second problem, as noted by~\citeauthor{popov2017} in~\citetitle{popov2017},
+The second problem, as noted by \citea{popov2017},
 is that ``it is not easy to get rid
 of fees in the blockchain infrastructure since they serve
 as an incentive for the creators of blocks.''
-\citeauthor{moser2015} says in \citetitle{moser2015} that ``Bitcoin users are encouraged to
+\citea{moser2015} says that ``Bitcoin users are encouraged to
 pay fees to miners, up to 10 cents (of USD) per transaction, irrespective of the
 amount paid'' which especially hurts when transaction amounts are smaller than a dollar.
-Moreover, according to \citetitle{kaskaloglu2014} by \citeauthor{kaskaloglu2014},
+Moreover, according to \citea{kaskaloglu2014},
 ``an increase in transaction fees of Bitcoin is inevitable.''
 
 Thus, the speed is low and the processing fees are high.
-Zold was created as an attempt to resolve these two problems.
+Zold was created as an attempt to resolve these two problems
+mostly at the market of micro payments.
 
 \pagebreak
 
 \section*{The Features}
 
-Unlike all other crypto currencies, there is no central ledger in Zold.
+First, unlike all other crypto currencies, there is no central ledger in Zold.
 Each wallet has its own personal ledger.
-All transactions in each ledger are confirmed by RSA signatures of their owners.
-
-Similar to many other digital currencies---including Bitcoin, Etherium, Monero, Trinity, Plancoin, Dero,
-and many others---Zold nodes find consensus by using the CPU power invested
+All transactions in each ledger are confirmed by
+\href{https://en.wikipedia.org/wiki/RSA_(cryptosystem)}{RSA} signatures of their owners.
+This enables high scalability and performance.
+
+Second, similar to many other digital currencies, including
+\href{https://bitcoin.org/}{Bit\-coin},
+\href{https://ethereum.org/}{Eth-reum},
+\href{https://getmonero.org/}{Mone\-ro},
+\href{https://plancoin.co/}{Plancoin},
+\href{https://dero.io/}{Dero},
+and many others, Zold nodes find consensus by using the CPU power invested
 by each of them to perform certain expensive and meaningless calculations
-that result in finding hash suffixes, also known as ``proof-of-work.''
+that result in finding hash suffixes, also known as ``proof-of-work,''
+initially introduced by \citea{back1997} in \citeyear{back1997}.
+This guarantees data consistency and eliminates a possibility of double-spending.
+
+Third, Zold is a pre-mined digital asset, similar to
+\href{https://ripple.com/}{Ripple},
+\href{https://www.cardano.org/en/home/}{Cardano},
+\href{https://www.stellar.org/}{Stellar},
+\href{https://neo.org/}{NEO}, and many others.
+Zold algorithmically limits its total supply, which is 2,15 billion ZLD.
+To compare, the total supply of some other currencies is:
+21m in \href{https://bitcoin.org/}{Bitcoin},
+100b in \href{https://ripple.com/}{Ripple},
+84m in \href{https://litecoin.org/}{Litecoin},
+and
+19m in \href{https://www.dash.org/}{Dash}.
+\citea{bohr2014} explains that cryptocurrencies limit their
+total suply in order ``to protects against inflationary forces,''
+so does Zold in order to protect its market value.
+
+Forth, the speed of transaction processing in Zold
+literally has no limits, because all payments are made locally, on users'
+machines and then pushed to the network for merging and storing.
 
-Zold is a pre-mined digital asset, similar to Ripple, Cardano,
-Stellar, EOS, NEO, Loki, and many others.
-One currency unit is called ZLD.
-Therefore, the technical capacity of the currency is 2,15 billion ZLD.
-To compare, the total supply of some crypto currencies is:
-Bitcoin: 21m BTC, Ripple: 100b XRP, Litecoin: 84m LTC, Dash: 19m DASH.
+Fifth, the cost of transaction processing
+is lower than what most other payment systems can offer. To process
+a thousand transactions a user has to pay (approximately) \$500 in Bitcoin, \$300 in \href{https://ethereum.org/}{Ethereum},
+\$45 in \href{https://litecoin.org/}{Litecoin}, \$12 in \href{https://ripple.com/}{Ripple}, and \$9 in Bitcoin Cash.
+In Zold it is as little as \$4, which makes it one of the most cost effective
+cryptocurrencies.
 
-Zold has two obvious advantages comparing to many other
-similar solutions: it is fast and cheap. First, the speed of transaction processing
-literally has no limits, because all payments are made locally, on users'
-machines. Second, the cost of transaction processing
-is lower than most other payment systems can offer. To process
-a thousand transactions a user has to pay \$500 in Bitcoin and \$300 in Ethereum,
-while in Zold it is as little as \$4.
+\pagebreak
 
-There are more technical details available in the
-\href{https://papers.zold.io}{White Paper}.
+\section*{The Roadmap}
+
+Zold is a \href{https://github.com/zold-io}{GitHub}-hosted open source
+software product, just like most other cryptocurrencies.
+Its first experimental version was created and launched by \href{https://www.yegor256.com}{Yegor Bugayenko},
+the CEO of \href{https://www.zerocracy.com}{Zerocracy}, on May~27, 2018.
+A distributed \href{http://www.zold.io/map.html}{network of nodes},
+which are running Zold software, is maintained by
+anonymous volunteers. The development of further versions and the
+maintenance of existing ones depends on the activity of GitHub
+contributors, partially sponsored by \href{https://www.zerocracy.com}{Zerocracy, Inc.}
+
+Just like \href{https://www.sec.gov/}{SEC} chairman Jay Clayton
+\href{https://www.cnbc.com/video/2018/06/06/sec-chairman-cryptocurrencies-like-bitcoin--not-securities.html}{recently mentioned},
+``cryptocurrencies like Bitcoin are not securities.''
+Similar to Bitcoin and Ethereum, ZLD is a cryptocurrency, not a security.
+It is distributed by Zerocracy as a digital gift to those who
+actively contribute to Zerocracy ecosystem, the development of Zold software,
+and the maintenance of nodes.
+
+Aside from programming, Zold enthusiasts may contribute their monetary assets,
+like US dollars, to any project managed by Zerocracy.
+In exchange, they get rewarded with ZLD digital coins.
+Later, they are able to trade their ZLD coins to other digital currencies
+and fiat money, through exchanges or directly.
+
+It is assumed that the market price of ZLD will grow due to its technical
+advantages and the popularity of Zerocracy platform among programmers
+and software companies.
 
 \end{document}