 Use Case: Virtual World[.....]Let’s say for example McDonald’s would like to offer a new hamburger to young men between 15 and 21. McDonald’s with an IoP Marketing App scans the Internet of People and finds these Virtual World Users profiles. McDonald’s’ app (or a bot) enters through one of the open TCP/IP connections at a Profile Server and knocks at the door of the Virtual World client app. They negotiate using a common protocol for this purpose the cost of delivering this advertisement (the new hamburger) to this particular user, after receiving some $0.1 for disclosing the age of the user (personal info can now be sold with the consent of end users and the income going to them). They both agree that a banner is going to be displayed at a virtual park and the virtual user will see it for 10 seconds while he virtually walks there. McDonalds would pay $3 for this which the client app would split 50% for the company and 50% for the end user. McDonald’s sends the first $1.5 in advance, together with[.....] continue reading |
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 Fermat’s Mining Cap,
What you need to know about it and what is doesThe thought behind Fermat’s mining cap is actually quite easy to understand, if you know how centralized Bitcoin’s mining has become. In the beginning of Bitcoin mining everyone who wanted to support the Bitcoin network was able to mine with their personal computer. The network was actually distributed. But over the last years it appears that's the mining is occupied by big mining farms in China. The reason for this is the high difficulty of the mining process. Only high end machines are able to mine Bitcoins in profitable way. For the average John Doe it is nearly impossible to mine any Bitcoins. The high difficulty doesn’t only lead to a centralization of mining power but also to a very high consumption of energy. Up to 95% of the overall mining costs are electricity costs
To keep mining Bitcoins profitable miners have started a race a long time ago. “Better, faster, cheaper” is the motto. And this lead inevitably to a centralization of the whole Bitcoin network. It is still distributed to a level, but it keeps centralizing even more over time when the difficulty rises even further.
Inventions by the bright minded
The bright minds of the Fermat Project are aware of this problem and try to prevent a centralization of the Fermat Network. The goal is to decentralize the mining of IoP tokens to a point where it is possible to mine with high end Laptops or very low end servers. This is for one done by controlling the number of miners with Mining Licenses. The key to mining IoPs is to do something valuable for the network and the community. By doing this you can earn a Mining License. In the future the question to who is able to mine will be [....] continue reading: |
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i answered your PM, i am quoting it here for better understanding of what's going on behind scene.IOP token is trading @6 dollar at bittrex. BUT ICO of Bitcoin Suisse AG starts at 20 dollar. How can this be true? Why there is NO marketing for this ICO? It must be a scam this project. Do you ahve any explanation for this.
thanks
Hi first  free market does what free market does, and for now free market values IOP @6 dollar.. what you see on bitcoinsuisse ag is fundation of Fermat AG got thoghether funds allocated during early stages of this project, (angel investors, funders and some members of board) they are putting funds together to kick start crowdfunding and distribute 80k IOP to mostly private investors. and yes they value IOP @20 dollar starting price! No marketing of this crowdfunding? what do you mean? if you mean here in bitcointalk than yes, fermat does not promote crowdfunding here.. but believe me http://www.heimdall.ch/ has been working overtimes finding private investors for this crowdfunding outside our little world let see how will free market react after crowdfunding. cya
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Regarding exchanges and nodes running on exchanges: Wouldn't it be possible to have a node that is detached from any work done and just uses basic functionality like receive/send? Why is it necessary that an exchange also processes XEL-jobs?
Simply because that's the current design that's in git. We'll have to wait to hear back from EK but your proposal may be a quicker/easier solution for exchanges than trying to rush the SN work. But unlike most here, I'm not concerned about launching or getting on exchanges... I am more interested on what is the best solution for xel to be able to work as a decentralized super-computer.I get that and agree. Edit: Eventually its a possibility to release in several stages? Like Ethereum does for instance with Metropolis or Homestead. Stage 1 = "Elastic C64" Stage 2 (adding SNs) = "Elastic Amiga" i like your proposal a lot, imo that solves two problems. 1. getting long anticipated mainnet release on 2. taking pressure off the EK and coral away so they can have time to bring quality update stream. |
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the video doesn't belong to me was posted in the slack, smoke some pot maybe can help  haha good answer. golden |
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i will try to fire up some nodes. maybe tonight, maybe tomorrow.
I guess we need to get the supernodes ready first. I mean we can all upgrade our nodes to the latest version, but except for the standard functions (sending XEL, redeeming, blah), serious testing will not be possible. Coralreefer and me, we are right now figuring out what needs to be done ... the specs are the most important part now. Meaning (maximum worst case execution time, maximum runtime in seconds, etc.) If you like, I can update the amazon EC nodes tomorrow so you can start playing with the current version. But you will hit a point, where the supernodes will become necessary to go to the next testing level. Also, I will try to write down everything tomorrow, so the PR guys have some more information. If the days only had more than 24 hours. we wait, no rush here  no supernodes no testing. i would like to run supernode on testnet so i can get familiar with the task ty EK |
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Anyone know how this compares to Golem?
Disclaimer: I am a retarded homosapien, so I - by design - might get things wrong. Please do not take this information for granted, it just represents the world, that is spanned by my limited horizon. The reality might be totally different. Golem is, in my humble opinion, a very fragile construction. It uses an external P2P overlay, it uses the ETH network, it uses Docker containers running python code inside virtual machines ... and they are currently limited to certain types of use cases such as Blender rendering. The plan is to allow arbitrary code ... I am yet to understand how exactly this will work. Fact is (again, in my limited world) that if one of these things has a bug, the whole thing goes to the shitter. Elastic has a very constrained set of possible use cases, but it is autonomous. It does not need any external shit: we have our own programming language, our own interpreter, we do not rely on any external technology (except the java libraries that are needed to run the core client). Also, our own programming language does not allow shenanigans to do any harm ... it simply does not allow the programming of malicious functionality, not even an endless loop (which would be possible in golem, if my brain does not malfunction now). Unlike golem ... they use a fully featured python behind the scenes. This of course makes it very hard to assess all side effects and possible bugs. Anyhow, maybe the Golem guys rock the shit, and prove me wrong. I bet they will nice summarized EK, thank you  |
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it would be great if all would update to newest version so we can do some proper testing? @unvoid @ImI.. i did it but no peer connection still.. any active peer i can use for my config? thanks EK for amazing work so far. time to activate skynet   |
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So, how do you become a guardnode?
you can't, they're hardcoded. |
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great interview, really enjoyed! lot of things to look forward to chille lol love the name!! |
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i want to run supernode missing XEL!!! Can't wait for exchanger. |
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@EK last week in your roadmap, do you have any updates for us?
Whole package arrives as promised on weekend, including a full documentation and in fully operable state. The roadmap was reorganized a bit, but (from my side) everything went (and goes) as planned. cant wait after so long to see elastic in action!  amazing! |
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How will we be able to get coins? Mining or ico?
by buying or solving computation problems |
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 Contributions Governance System Road-mapFermat governance is divided in two halves. The first one is about the governance of mining, the second one is about the governance of contributions. Today I will focus on the second half.
Contributions Governance System
These days we are releasing version 1 of our contributions governance system. This version is good enough for the next phase of the project. Any community member can contribute using the new Fermat Contribution App to submit Contribution Contracts to the system. Anyone using the new Fermat Voting App will be able to vote if they want that contract to be executed or not. We are innovating here in many aspects since as far as I know, no other crypto-project has a governance system exactly like this one. During the next[....] Road-mapThe road-map of our Contributions Governance System is:
1. Deploying Token Server v.3.0.1 (IoP Core): Currently underway. Project executed by Rodrigo Acosta with the help of Matias Furszyfer.
2. Deploying Android Contribution App: Version 1 is ready, waiting for the IoP Core v.3.0.1 to be a clear majority on the mining network. This app was entirely developed by Matias Furszyfer.
3. Deploying Android Voting App: Version 1 is ready, waiting for the IoP Core v.3.0.1 to be a clear majority on the mining network. This app was also entirely developed by Matias Furszyfer.
4. Security Audit of IoP Core: We expect to receive proposals from specialized cyber security firms to audit the work done at the blockchain level to process Contribution Contracts. We understand that this is a very sensible part of the whole system and must be audited extensively.
5. Professional Redesign of UX/GUI: We understand that the apps developed don’t have a sleek user experience design and user interface yet. They are just a reference implementation. We are happy to receive proposals for a professional redesign of both the user experience and user interface, together with the implementation of the changes or the implementation separated in a different project. This new redesign must accommodate the results of our Marketing Strategy Plan that is currently under development.
6. Implementing iOS Contribution App v.1: This is an open project which won’t involve the current core devs. Anyone in the community can submit a project proposal for the development of this app. My recommendation is that you wait for a while until the corresponding Android app is used and real life usage feedback is incorporated on it. Also, it should come after the professional redesign of the UX/GUI.
7. Implementing iOS Voting App v.1: Exactly the same situation as 4). Open project for anyone to propose.
8. Android Contribution and Voting Apps v.2: In version 2 we convert both apps into IoP Apps (they upload profiles to Profile Servers and communicate with each other directly) and we eliminate the usage of a centralized forum. This project depends on the IoP SDK to be released. Open project for anyone to propose.
9. iOS Contribution and Voting Apps v.2: Same as 6) with the iOS apps. Open project for anyone to propose. continue reading: |
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ps. they are pro in this business, no wonder they were first to buy.
Oh, do fuck off.... they were first to buy because they had a scammy deal with Melonport, that doesn't make them professional. There is only a few hundred holders at most, this has just become a pump and dump token. not true at all  i made transaction on 12:00:12 and it got through, same as they and few others did. there was no extra deal other than that reserved 25%, who would think demand would be so great. i saw ppl still sending eth for almost an hour after MLN sold out.. anyway, just chill. if it will pnd then you can still buy cheap. |
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