Bitcoin Forum

Please explain the proof-of-Labour concept.

PROOF OF LABOUR IMPROVEMENT PROPOSAL Julio Moros Oscar[PDF] (https://drive.google.com/file/d/0BxMpUFjkIPHlczZ2NkI4OUdBcFU/view)

And how can we create the a cryptocurrency framework like ethereum or EOS ?

Ethereum is outdated and really this "Proof of something" is about establishing trust or cooperation between nodes
which is OK so long as it does not involve wasting time and gobbling up the network because that's never going to
scale.

The code I am working on sends a request to servers for node discovery and gets a hash and count for nodes
broken down by 4 digits of the public keys and then picks one at random and asks for the row data making up
the hash so that the node can see if the other one is being honest but this data is needed anyway since it is
replicate between a sub-section of nodes.

if that proof of labour because I cannot follow the link, google is all but blocked by me this end.

I have read the white paper. I seems that this paper merely promotes the Dash network. :(

Anyway, I liked the idea of the "flow scrip" and the proper escrow mechanism. But I think the master pools mentioned in the white paper are not very good solution in general, because they can be compromised.

Ethereum is a scam since it was released as a heavily pre-mined ICO with some PoW.. and then they will go PoS. It's a mess of a project, a total joke, yet it got real far because it's useful thanks to the ERC20 tokens for other projects to be released, it's like a platform, but as a store of value or anything like that it's just a disaster. I don't see any other use case for Ethereum than launching other tokens throught it. The rest of smart contract applications are useless.

I have been reading about your project for a while. Let us know when it's released. Sounds too good to be true to be honest.

Yes the network and the coins need separating but I like ETH because it offers "Bean Counting" services and charges gas for the privileged
but did you like how Bitcoin pinched the term "Smart Contract" and please give me a link to where I can see them or upload my own if you
know of any.

NEO I think is going to be one to watch but really I am looking for a platform that allows real apps to be deployed in a way
that they cannot be taken down so long as they make "Gas" payments to the host providers to run site much like hidden Tor
.onion works but the sites/services will stay up without having to keep your Tor node open.


 

Sorry for this very very late answer. I'm the author for this paper, my name is Julio Moros. I'm from Caracas, Venezuela. And all this time I've been too busy just to earn my living here.

But, let me answer your question: Proof of Labor was a research proposal exposed to Dash masternodes in one of their budget proposals. Such proposal was sadly declined.

First of all: My vision those days was that Dash had the full potential to become in any thing they want (they can do it still today). Today I know that sadly Dash proposals are more orientated for a marketing promotion of Dash, than anything else.

Second: I had to keep my vision by myself, and doing my own research. Proof of Labor is a proposal for an alternatively money system in which money can be created in such a way it does not create inflation, and in such way that the production which backs any value in the system is verified by some decentralized system.

Today I know that such systems are ORACLES. There are two main types of oracles: machine-oracles, and user-oracles. The oracles faces two major flaws which the state of the art hasn't completely solved yet. These are the freeloader dilemma for machine oracles, and the bribe attack for user oracles.

We are very close to solve both problems. The freeloader dilemma has been addressed very well by oracles like Chainlink, Kyber or 0x. But the bribe attack is a little more complicated. I'm very confident that in the next few months a solution will emerge and this kind of money systems will start to be commercially avalilable.

Thanks for your question.