[NINJA][SCRYPT] GraphCoin [ROADMAP][NO ICO/PREMINE]

[ljm81new_again]

Is this another ghost town tumble weed moment lol

[Bobsurplus]

Is this another ghost town tumble weed moment lol

Cant ever be one of those as long as you're around.

[ljm81new_again]

Good job im around then 

[tx42]

Auxiliary Proof-of-Stake Flowchart:

Thank you all for waiting, the flowchart that explains how the AuxPos will work is ready.  This technology will require a hardfork, but this won't happen for a few weeks.  The main idea here, is that we want investors in other projects to see what we are doing, and leverage their holdings by staking Graph.  This will make it so they have to purchase Graph to leverage their SDC, BC, Doge, Crave, and so forth.  In order to make up for this inflation, individuals will be burning Graph when arbitrage opportunities arise.  Graph holders will also want to purchase coins from other projects, which should stimulate their economies as well.

We will also be releasing a new wallet with a lot of functionality very soon.  There will also be a paper wallet generator and other things delivered to meet the May 15th deadline.  Right now we are finishing the wallet statistics and ads in wallet.

Thanks.

One problem I see with this setup is how is it possible to pay for holding across chains without a centralized setup? For example, the chart says I could prove I own some crave by a signed message, but this requires a current and valid crave blockchain to verify. Now, if I am to get paid in graph, how is the graph block chain going to verify my ownership of crave?

The only technology I see being developed for this type of thing is blocknet but you have no blocknet coins listed. Interchain communication is not a trivial thing.

Some clarity on this issue would be appreciated. If you come back and say you are going to use blocknet, then my question is why are blocknet coins and blocknet itself excluded from your list?


[addendum]

Nevermind it is centralized accountability according to the chart:

"Graph's online wallet will monitor proof of ownership in other currencies, and render the encrypted key useless if the balance is reduced."

I think this is fine for the short term (3-6 months), given the current limitations of interchain communication. However, I do not see this as a long term (years) solution. I hope the devs will soon address this weakness because it will strengthen these plans and this coin considerably.

[GraphDev]

Auxiliary Proof-of-Stake Flowchart:

Thank you all for waiting, the flowchart that explains how the AuxPos will work is ready.  This technology will require a hardfork, but this won't happen for a few weeks.  The main idea here, is that we want investors in other projects to see what we are doing, and leverage their holdings by staking Graph.  This will make it so they have to purchase Graph to leverage their SDC, BC, Doge, Crave, and so forth.  In order to make up for this inflation, individuals will be burning Graph when arbitrage opportunities arise.  Graph holders will also want to purchase coins from other projects, which should stimulate their economies as well.

We will also be releasing a new wallet with a lot of functionality very soon.  There will also be a paper wallet generator and other things delivered to meet the May 15th deadline.  Right now we are finishing the wallet statistics and ads in wallet.

Thanks.

One problem I see with this setup is how is it possible to pay for holding across chains without a centralized setup? For example, the chart says I could prove I own some crave by a signed message, but this requires a current and valid crave blockchain to verify. Now, if I am to get paid in graph, how is the graph block chain going to verify my ownership of crave?

The only technology I see being developed for this type of thing is blocknet but you have no blocknet coins listed. Interchain communication is not a trivial thing.

Some clarity on this issue would be appreciated. If you come back and say you are going to use blocknet, then my question is why are blocknet coins and blocknet itself excluded from your list?


[addendum]

Nevermind it is centralized accountability according to the chart:

"Graph's online wallet will monitor proof of ownership in other currencies, and render the encrypted key useless if the balance is reduced."

I think this is fine for the short term (3-6 months), given the current limitations of interchain communication. However, I do not see this as a long term (years) solution. I hope the devs will soon address this weakness because it will strengthen these plans and this coin considerably.

Very good post.  When we were originally planning this, the Graph Betting Nodes were going to require other coin daemons installed on the same VPS to address this, and they could act like block explorers.  This way, we could have nodes broadcast scanning for others, and we would always have a point of reference instead of hardcoding the daemon to do api calls to a block explorer (which would be sloppy, and unsecure).

As you know, we had to shift focus and put the betting nodes on the back burner so Graph wouldn't be for the sole purpose of gambling, so we decided to build this into the online wallet.  We had the arbitrage and AuxPos planned, so we just changed up the roadmap.  The other things we plan to do are even more ambitious, but we have a lot on our plates right now

Your post has merit, and I'm glad these discussions are happening.  Decentralizing things is a must, and this was all supposed to be done by distributing the Graph Nodes, but until that happens we will have to use the online wallet.

[katerniko1]

i think im going to buy some of this coin

[buddynuno]

i think im going to buy some of this coin

Dont think, just buy

[tx42]

Very good post.  When we were originally planning this, the Graph Betting Nodes were going to require other coin daemons installed on the same VPS to address this, and they could act like block explorers.  This way, we could have nodes broadcast scanning for others, and we would always have a point of reference instead of hardcoding the daemon to do api calls to a block explorer (which would be sloppy, and unsecure).

As you know, we had to shift focus and put the betting nodes on the back burner so Graph wouldn't be for the sole purpose of gambling, so we decided to build this into the online wallet.  We had the arbitrage and AuxPos planned, so we just changed up the roadmap.  The other things we plan to do are even more ambitious, but we have a lot on our plates right now

Your post has merit, and I'm glad these discussions are happening.  Decentralizing things is a must, and this was all supposed to be done by distributing the Graph Nodes, but until that happens we will have to use the online wallet.

I realize I am venturing to the horizons of your plans, so I don't mean to unfairly put you on the spot. But GraphNodes are going to need to be more than hosts for block explorers. Somehow you are going to need to integrate information from the other chains into the graph chain itself. One possibility is to delegate this integration to GraphNodes and compensate them accordingly. In other words, GraphNodes would have to all track 5 chains then develop a consensus on the state of the 4 guest chains (crave, doge, black, sdc) and then broadcast this consensus to the rest of the network within the graph chain. It seems possibe with a masternode system if the compensation is appropriate. It doesn't seem easy though. There are issues that need consideration, orphan blocks in the guest chains being probably being the most serious.

[edit]

As I think about this interesting problem, I guess it would work well enough without a broadcast of the consensus, if the masternodes were responsible for approving (by consensus) any stake signed by one of the keys awarded to holders of the guest currencies.

[racer2012]

What is current supply??

[GraphDev]

It's 1.25 million, should be about 1.35 when Dynamic POS finishes up in 7 days.

[CryptoRekt]

Thanks dev for being active in the community given the magnitude of the work load you have currently.


+1

[ljm81new_again]

Morning me old muckers 

[serejandmyself]

To the moon? When is a website going to be up?

[fonzerrellie]

dang network weight is getting high, talk about competitive staking 

[neordicICE]

dang network weight is getting high, talk about competitive staking 

How high is it?

[fonzerrellie]

dang network weight is getting high, talk about competitive staking 

How high is it?

around 800k and growing by the day lol I had less coins yesterday but found more pos blocks

ha guess I'll have to add some more weight today

[ljm81new_again]

Im gonna stake mine when the dev drops the new wallet tomorrow, normally im not that a big on it but i think il change up for this one 

[ljm81new_again]

Ouch somebody's gonna wake up angry, coins getting munched 

[racer2012]

We need more investors
We need more ads twitter, facebook
Once we pass 100k market cap than more people will get involved
Or news of update on may 15th, June 1st and July 1st
Will be good

[ljm81new_again]

Think this is new investment because i dont see any noticeable change in the distribution top wallets