What is expected ROI there? Is there a way to earn XBY with static node or masternode or some other way here in Xtrabytes?
There will be 3 levels of static nodes and that will be the only way to earn it i think. Level 3 node seems to be pretty cheap. Only need 120K tokens i believe We don't know that yet. The fee structure hasn't been announced. It will also depend on what Dapps are on the network as the majority of the income from owning a static will be through there service fees. |
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Is there any plan to go Q&A session live on FB or in Youtube near future?
Hello. They tried in video format, here is the most recent 777 with Borzalom: https://www.youtube.com/watch?v=QB1Wdni-S5UBut most users asked for a text vesion. So this time they decided to try in a text version, here on Bitcointalk. I did happen to see this during last session, I thought it would have been nice to see the team in video n answering the question instead of audio release or text format Thats why posted this time know if it will happen in next session I think for the time being the text version is enough. Maybe in the future when we have some other developers or another video friendly PR guy it could change but I think text works better for borz. |
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Great Program! Will buy more and more with the Time I can afford it! I think it has a great future and it is way undervalued. So guys take your chance and buy buy buy. You will be very rich in 2 years  2018 will be the Year of XBY, atleast i hope so haha Looking forward to the static Nodes Its true. I would have liked to see a big bump today as money flows back into alts. It is probably a bit to to with not being on some of the bigger exchanges so it might take a bit more time for it to feel the effects. |
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Here are the questions and answers from the 777.
1. What happened with the testnet? Was it successful or are you still working on the bug fixes? Should we expect a V2 of the testnet?
The last test result was success but the failed tests also help the development. I wrote this because everyone must understand the failed test and successed tests is twins. Both required.
After we get successed test then if possible i use the passed code. Good example the XFUEL where i use the code of first testnet. Each testnet have goal and the lifetime is short. After destroyed the previous testnet then the next test will be executed.
The next testnet will be the public STaTiC+PoSign test. The next test we will use more testers therefore before we start the next test we need build one small testing infrastructure where possible evaluate the results of tests. We need a small team who help and support the other testers.
2. What is the expected timeframe for setting up and auctioning the L1 nodes? Will that be aligned with the level 2 and 3 nodes?
After the STaTiC+PoSign test closed (where we use manual registered STaTiC-s ) then the next test will be the test of STaTiC registration. Each level ( L1,2,3) will be open. The original Level1 STaTiC-s was added to genesis block but all other positions will be available.
I don't want wrote deadline of tests but i hope to these tests will be closed this year. This it also depends the teams who help the execute and evaluate of tests. I hope the first teams will be available shortly.
If the STaTiC registration tests successed then i will add this code to the system immediatly. And all level of registrations will be available after.
3. Has the testnet proven that the technology works and is secure? Are the consensus mechanisms now fully tested?
We have more than just a successed test. We have XFuel where the technology is public available. I hope the XFuel enought secure. 20.000 blocks done and nobody hacked the system.
The XFuel contain some finalised parts of the consensus but not each parts. I will be add more and more passed code until we get the final consensus. Of course the final consensus always be changing.
The good system opening the door to the changes. I don't want hardcoded consensus like the BTC block size problem or simile other.
4. How can we validate that XFuel uses the PoSign technology? Is there any technical proof to show how it works?
1.) Start XFuel Wallet and enter to debug console
Welcome to the XFuel RPC console.
Use up and down arrows to navigate history, and Ctrl-L to clear screen.
Type help for an overview of available commands.
2.) Type getinfo
getinfo
{
"version" : 1000001,
"protocolversion" : 10001,
"blocks" : 20012,
"timeoffset" : 0,
"connections" : 3,
"paytxfee" : 0.00000000,
"errors" : ""
}
3.) Get the hash of last block
getblockhash 20012
f6a45819b5393ccaec23195c012c91c4553b2999a49fb753129d6158dd3858ef
4.) Dump the detailed info of this block
getblock f6a45819b5393ccaec23195c012c91c4553b2999a49fb753129d6158dd3858ef
{
"hash" : "f6a45819b5393ccaec23195c012c91c4553b2999a49fb753129d6158dd3858ef",
"confirmations" : 1,
"size" : 282,
"height" : 20012,
"version" : 1,
"merkleroot" : "cab3e8620645adb50a5a7bbe3d156105f64b51983353ee18036228ed0d55ebf5",
"tx" : [
"cab3e8620645adb50a5a7bbe3d156105f64b51983353ee18036228ed0d55ebf5"
],
"time" : 1510086447,
"minerid" : 2,
"signature" : "3045022100a21645344d51435be6d032b44e6d847bfeffbb8c8681fea40a2cf0e5f7c16e4702205 2394414ad868339f434fdb8acfa779d85649d79f51e636036113c010781eaf2",
"previousblockhash" : "10c85a6d2fced7b9c2d111eb87215c2ab06991916ef2c75c0dba992d6a801b79"
}
5.) You see the ID of miner who signed the block and the signature too. The last signer checked and accepted the all previous blocks too
5. Once PoSign is running, how are blocks created? Will block time remain the same? Like every 30s we’ll “mint” a new block via the static nodes? How do we ensure all transactions are verified by all nodes at the time of minting? We don’t make a new block until all transactions are agreed?
What if we have 2 servers on opposite sides of the world (Say JPY and UK) and it comes time to make a block... UK has no outstanding transactions so it creates it. Before JPY gets the block update it receives a transaction and sends it off to get ok’d by all servers... now we have a fork? How is this handled?
Each miner watching lot of different events. Number of transactions and elpassed time of last generated block, who generate the last block etc... Summarize the "value" of this events each block have one "weight".
If we have 3 miners and each miner generate block in same time and the generator of last generated block is the #1 miner then the weight of each block is different. The #1 weight is the worster and never be accept this block other miners because the previous block generator is also the #1. The #2 will be the best and the #3 also acceptable if #2 is offline or don't generated block.
The block collision is normal event. Each miner and client know what is the "best" block. The block of #2 maybe don't contain all transactions but this is no problem. The next block will be contain the missing transaction. Each block have unique weight therefore never created forks.
The chain always contain blocks ordered by weight.
6. Blockchain generation 3.0 is also about interpolarity, where Blockchains can talk to one another. Are there any future plans for the creation of a module for communication between the ethereum network, and other chains?
The system support this therefore i hope someone will be create interpolarity module. The early stage of system contain the bridge. This bridge connect the old chain and the new chain. These blockchains communicating each other. The future interpolarity module just need extend this function to external blockchains.
7. The vision for XTRABYTES seems to be to make a better blockchain. So can you explain what you think are problems with the Blockchains that already exist and can you share very generally some long term hopes and vision you have for XTRABYTES into the future.
Lot of problems exist of the most blockchains. The problems of other blockchains and XBY don't comparable at this moment therefore i just say some headwords:
Limited blocksize vs. unlimited blocksize
Lot of energy required vs. no extra energy required
reward is given to miner vs. reward shared between the STaTiC ( service providers )
unneccesary work ( mathematical calculation ) vs. required security checks
all blocks stored to all miners vs. cloud type shared storage
fixed transaction cost vs. service based cost ( cheap or zero transaction cost )
limited number of transactions vs. extreme high number of transactions
political governance problems ( not trust and anonym ) vs. provider releated and trust
p2p style network vs. overlay network
...
and many more
And answer of your non technical question is: Just read my first words of the beginning of this project. This is experimental project. I just want solid and stable platform who help the crypto world making better.
Here is the Q&A that happened yesterday. Keep those updates happening and we will be top 10 in no time. |
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I was away yesterday so I missed the live part of the Q&A. I think doing the text chat here worked well for people like me who couldn't be around at the time. The video format was a good idea but borz is not super easy to understand when he talks in english, so I think this format makes more sense.
Thanks
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Excellent! Cant wait to see what is going on inside that head of his.
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Do we know if it is going to be an event like last month or just a written statement? I'm okay with either format but it would be good to know for people to plan out their day.
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Thats a good start and we should get some other development details today hopefully with the 777 question and answer session. |
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BORZ 777 is 48 Hours Away
Be sure to get your questions posted so that we can choose the 7 best questions for this month.
Remember, this is Borzalom, the technical genius and lead developer of XTRABYTES. So, put your energy into thinking about TECHNICAL questions because he will only answer technical questions during this monthly event.
Thank you in advance for your time and energy to come up with some great questions for Borz! Here, I think, would be a very promoting question for XBY: What would be the most important advantages for XBY compare to the actual EOS.IO crypto being currently introduced. ? I read that EOS.IO will also offer lightning speed transactions and a bunch of other features similar to ETH and blockchain storage. Is XBY got some extra features capable of surpassing EOS.IO ? And, is XBY ready and functional prior to EOS.IO ? Thanks Fred. Good to see you here on the ANN again. I have sent your question along. It's a great question! As I think EOS is much faster than Ethereum and (this is my opinion) has the potential to eventually overcome ETH, in terms of Dapps used on their platform. EOS has a few issues, one being it only uses a small number (I think 100 full nodes) for the entire network. This is extremely centralized, and DPOS (delegated POS) has zero protection against 51% or DDOS attacks. With such a small number of nodes, and no safeguards in place against those type of attacks it isn't really solving anything (arguably making things worse compared to Eth). Not only that but the entire system is unauditable for the normal holder and the voting system is a clusterfuck. PoSign, at least on paper, solves all of those issues. I saw the spat between Vitalik and Dan arguing which of their platforms were better, but neither of them really did too well. This is true the question will be how long it takes people to realize the benefits of XBY over EOS. EOS has a bigger audience from the start. Hopefully XBY will make a big splash soon to get even more eyes on it. |
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To see some Proof, and that development is in heavy progress, do the following: Download XFUEL wallet: https://github.com/XtraBYtes/xfuel/raw/master/xfuel.exeIn the wallets console section, type: getblockhash 8000 (choose whatever number you want, provided it has been mined already) Result: b2a031a9d996f8b801b7b0e837e95b7c086064eecd3f1bd48465717d2ffb5815 Then, when you get the blockhash, you do another command: getblock b2a031a9d996f8b801b7b0e837e95b7c086064eecd3f1bd48465717d2ffb5815 When you see the next result, you will see the MINER ID and the signature. From Borz: try it ! each block have miner ID and signature of miner pow and all other mining algo informations don't exist the raw block contain same informations of course than the decoded info these blocks NO bitcoin clone blocks { "hash" : "b2a031a9d996f8b801b7b0e837e95b7c086064eecd3f1bd48465717d2ffb5815", "confirmations" : 9228, "size" : 283, "height" : 8000, "version" : 1, "merkleroot" : "ba2b96252d23acba2bf2765976fd1cd9311ad89e3ac11f3091a6a272de2b2e08", "tx" : [ "ba2b96252d23acba2bf2765976fd1cd9311ad89e3ac11f3091a6a272de2b2e08" ], "time" : 1508828232, "minerid" : 6, "signature" : "3046022100c558a9fd5918eda0047eeaba683fcd059926962b24d52adade910351ee270a9d02210 0987806985371cf8490bed97baa829e0afeea2f6587a4b063f333ebc0577afbe3", "previousblockhash" : "c901d27ff97e1edeb738a77fbb42984b3fbeb2efdbb0547aec43fbc770726910", "nextblockhash" : "81285e9e70c2dc8b3062789570ddf137cb5593afbda180c97ae654e9bbfd7229" } XFUEL is signing blocks with a new technology, called Proof of Signature. ------- Why the source is closed? Dev isn't going to release code yet risking that someone or group trying to copy tech and release before XBY. Great this is a good start to opening up the project. Hopefully the progress will be far enough that the code can go up and we can all scan it. |
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Thank you very much! Great post, as always.  I think the distribution will get better as the price rises. There are probably a few holders from the early days that will sell off some of their bags as the price rises giving others a chance to get into the coin. |
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I'm still not sure how PoSign is resistant against a 51% attack. I understand that all nodes need to sign a block, but I don't fully understand that if 51% accept a block and 49% don't sign it what would happen.
Particularly if I own that 51%...
Maybe someone could actually make a simple, animated video of the process?
I would also be interested in that. If the team can lure a video producer into the fold more of the complicated issues could be displayed via video. |
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What's the ROI of the static node ?
We currently dont know but it could be a question for november 7th. If you join slack and add it to the list. |
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The project itself is not bad, the team is also good, you can look again. I'm Xiao Bai, but it's not enough to understand the project, but I will pay attention to the development of the project.
What is the deal with these spam posts. Do they post a bunch and then sell the accounts later. That would be the only reason I could think of. Looking forward to the 7th. It feels like a lot has happened in the past month. Can't wait to hear about what is going on behind the scenes. |
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There is very little chance of this coin getting in top 10 or 20 with so many good
competing coins. I'll say getting in top 100 is possible.
Top 100 would be the most that they go up to. They won't get in the top 5 coin list that is a fact. Not that much potential in this coin. Top 5 will be hard but top 10 is a possibility. Just look at a snap shot from this year and you have a good number that are not there anymore and movement with the others. Would have guessed NEO would be a top 10, I think not. |
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If you want to find out more about XBY their is a question and answer with the developer on the 7th. If you have a question to ask join the slack https://xtrabytes-xby.herokuapp.com/ and you can get invited to the channel where the questions will be listed and you can add your own. |
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what will happen if soft cap is not reached?
This isn't an ICO so all the coins are already out there. The nodes don't all have to be filled but the network will be stronger if they are. If they are not all filled it will mean there are more coins in circulation meaning the coin will be less scarce. |
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How can i mine?
XBY is not a mineable coin. All the coins already exist. Right now the only way to get XBY is to buy it on an exchange. I would recommend cryptopia. It has the largest volume and doesn't have the problems that some of the other exchanges have. |
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The X-CHANGE Z-APP module will allow users to trade and execute transactions directly
within the PoSIGN blockchain, providing an environment immune to the vulnerabilities that standard
exchanges suffer from. Starting with XBY/XFUEL as the initial pairing, we will demonstrate coin
creation, proof-of-concept, functionality, and operation of the X-CHANGE module. All transactions
will be on a true P2P basis, allowing consumers greater control and safety in regards to their funds.
The addition of other trading pairs will come with time as the X-CHANGE Z-APP gains
popularity and interest by the public at large. Our developers wish to add all major trading pairs to
X-CHANGE in the future, thus providing all users of the XTRABYTES platform a liquidity source for the
leading cryptocurrencies.
I'm excited for the release of the first milestone product. Once we have the xchange up and running the proof of tech should help drive the price up.
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Will XTRABYTES (XBY) Be A Top 10 Cryptocurrency By The End Of 2018? Why or why not? With all the recent developments coming from XTRABYTES, could this all-inclusive platform push XBY into a top 10 spot on CoinMarketCap by the end of 2018? Anyone who hasn't heard of XBY yet can read their Announcement. https://bitcointalk.org/index.php?topic=1864397.0As a crypto-trader, I haven't heard much about XTRABYTES (actually, I don't know this altcoin before). I checked XTRABYTES in coinmarketcap.com, and I found it to be promising. I think that if the devs were able to promote it further and let the crypto-world know everything about it, this will be a successful altcoin. As of today, its price is at around $0.015. It has a market cap of $6,825,270 , which is ranked 257th. This is pretty low if we think about it, but the thing that caught my attention is its circulating supply and its volume. As of October 30, 2017, it has a circulating supply of 429,500,000 XBY and a total supply of 650,000,000 XBY, which means that there are still around 220.5 million XBY that are untouched. Also, its volume in last 24 hours is $37,796, which means that there were only around 2.36 million XBY or around 0.55% of the total circulating supply that were traded in that course of time. This means that there are a lot of holders who are not yet trading their XBYs. However, I don't think that it will be a top 10 cryptocurrency in 2018. Top 100 is the most possible and attainable achievement for this cryptocurrency by the end of 2018. But who knows, if the devs are good enough in spreading the words of their project, this coin might climb up the ladder faster. Although I am not holding and XBY, this is really conservative opinion. Current number 100 has $12.5m market cap, which is what XTRABYTES had 8 days ago when it was trading at 30c. Basically, it already reached top 100 without many people knowing about it, so it should at least reach top 50 next year. Currently not holding any because I have my picks for this year, but if I get some extra cash, I might get some. We are going to be back in the 100's by late November and probably sub 75 the market cap right now is just so low compared to what it should be. And this is with very little product. Once one of the bigger milestones gets reached we will jump to the top 50 for sure. |
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