[ANN] BitShares 2.0

[sidhujag]

So...and I'm working my head round this slowly:

No-one in the BTS community has ever claimed that Graphene would run at 100,000 TPS on launch ?

So why make such a fuss about a hypothetical future configuration of BTS running on next-gen Internet 2.0 hardware ?
I'm reasonably aware of BTS activities, and I got the overwhelming impression that Graphene was going to have revolutionary, VISA-level processing speeds now, rather than at some undetermined time in the future.

Using this line of reasoning, I can now claim that NXT will hit 1,000,000 TPS sometime in 2027, and no-one can contradict me.....

You dont understand the tradeoffs between security/performance that Satoshi made. You need to know software to ask these questions on this forum. It doesn't matter if anyone in the BTS community ever claimed that, but the devs have not thats what matters.

The fuss is about the ability for Graphene to run at 100k TPS. No other coin on any super network can ever do that because the bottleneck is not the network but the blockchain implementation instead.

The benchmark's prove this. Anyone with knowledge of bitcoin will acknowledge this as innovation.

[EvilDave]

Fair enough.

Lets draw a line in the sand here: I'll give BTS some peace and quiet on the 100k/100 TPS issue until October 13.
If Graphene rolls out on time, and pulling 100 TPS consistently, I'll keep on keeping quiet.   

[sidhujag]

Fair enough.

Lets draw a line in the sand here: I'll give BTS some peace and quiet on the 100k/100 TPS issue until October 13.
If Graphene rolls out on time, and pulling 100 TPS consistently, I'll keep on keeping quiet.   

NP I hope it wins you over once you understand the power of dpos.

[Abiky]

Only 2 days left for the official launch of Bitshares 2.0! When it becomes official, it hope there would be mass adoption by banks and companies with a hopeful increase in price. Right now BTS is very cheap, so I guess the time is good to buy some more. This is very exciting. I can’t wait for it. 

[Blazin8888]

http://www.forbes.com/sites/rogeraitken/2015/10/10/openledgers-crypto-financial-platform-officially-launching-as-central-bank-interest-revealed/3/

[sucksyd]

BitShareholders get to vote on how many witnesses (signing nodes similar to low cost miners) they want to pay for.  In BitShares 1.0 that was hardwired to 101 which meant that every node was guaranteed to be signing less than 1% of the blocks, in a rotating random order.

To become a signer you need to earn a public reputation in order to get elected.  To get fired, all you have to do is get caught breaking the rules once and your reputation is destroyed.  Now you have to start over, earning a new reputation.  So nodes can be fired and are limited to only one function:  faithfully include transactions and sign blocks.  Failure to do that is 100% visible to everybody.

Compare that to Bitcoin. The top three or so companies sign over 51% of the blocks and therefore their three CEO's effectively control the whole network.  You can't fire them because they still control all that hash power.   Pools don't distribute control, they just distribute workload.  Not the same thing.

Which is really more decentralized?

Decentralization has its costs so arguing that you have more independent nodes has diminishing returns. BitShareholders must decide how many independent node reputations are enough to secure their network.  We think it will turn out to be somewhat less than 101, but that decision rests with the voters and their elected expert delegates.  It's a simple question of marginal utility, what is the incremental cost vs payoff of going from 101 to 102? 

Here are two articles that provide more detailed answers, although they have not been updated to reflect BitShares 2.0 advances.

Decentralization, Scalability, and Fault Tolerance

The Minimal Requirement for Decentralization

Here's an excerpt so you can decide if you want to read the rest:

We tend to get three different attributes mixed up causing endless confusion even among men of good will.

• Throughput Scalability
• Fault Tolerance
• Decentralized Control

These are three different concepts.

Fault Tolerance

We are saying 101 highly-reliable, tested and proven, hand-picked parts dispersed across the globe and selected by the entire owner population is sufficient redundancy to achieve reliable fault tolerance. The only thing those parts can do is – do their job to spec. We can observe their performance and swap them out in ten seconds if they don’t perform to spec. So, really, they are just interchangeable slave machines. Producing the blocks is a mindless task.

Selecting which parts make up the machine is where the power lies.

Decentralized Control

The total decentralized population of the all owners participate in selecting the most reliable machines to run the network. Those 101 parts have no power over the owners. 101 dispersed redundant parts is a decentralization red herring! That’s not where control lies. Those 101 chosen nodes can be completely reconfigured or replaced by the fully decentralized participating owners in 10 seconds.

BitShares has decentralized p2p control
of a distributed, fault-tolerant computer
implementing an autonomous unmanned company
running a decentralized crypto currency exchange
which produces stable smart-coin products.

Throughput Scalability

Any of the 101 nodes can scale up by adding parallel machines, side chains, and a thousand inventions we haven’t dreamed of. When we get to a billion owners and need a thousand machines per node, we can do that. It will still be decentralized enough to ensure that the 101 (now bigger) parts that make up the distributed, fault-tolerant machine will perform their mindless slave jobs reliability - from positions scattered across 24 time zones.

Those million decentralized owners do not want to have to think about managing more than 101 redundant parts to their machine. 101 is plenty, maybe too many, for the average owner to keep track of how they are performing. Adding more parts reduces the degree to which each part can be vetted and therefore reduces the system’s reliability. Total reliability is a combination of node redundancy and node reliability via reputation-based vetting.

In BitShares, absolute control is fully decentralized down to the votes of every single atomic BTS satoshi. You can’t get more decentralized than that.

Are frigging kidding me?BTSX the infamous muck is 1000000000000000000 to bit coin.plz,let btc out of this,ok?

[Abiky]

What happened to Bitshares 2.0? It has already been released, but I don't see any new updates/impressions about it. Also, the price hasn't increased at all. It is still the same, or even cheaper than it was before. Did BTS passed the promised TPS? I'm lost here 

[favdesu]

Get Started and claim 100 BitShares Bonus


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How To Use the Referral Program

[nodecoin5]

price to low

[newBTSuser]

Good evening. I would like to start investing in Bitshares, but I am not being able to have the wallet working here (I'm using Windows 7):

I have tried install the "BitShares-light_2.15.292.exe", but when I try to create an account, I always receive an error. The same happens with the online wallet at bitshares.openledger.info

Here is the print screen of the error: http://oi60.tinypic.com/141k1h0.jpg

So, I have decided to install "BitShares-2.15.286-66c18c6-win64-cli-tools.exe", still on Windows 7, tried as many commands as I could figure out at the command prompt (based myself here http://wiki.bitshares.org/index.php/Useful_Wallet_Commands) with no success.

Then, I've tried wallet.bitshares.org. Created the wallet, got a recovery key, set a password, but I get this error "Severe network problems | Last block was synced 15h 52m 35s ago".

I was not able to create an account at bitsharestalk.org :/ that's why I am posting this question here (e-mail confirmation message never arrived).

I really need some help here. How can I start?

Thank you

[favdesu]

Good evening. I would like to start investing in Bitshares, but I am not being able to have the wallet working here (I'm using Windows 7):

I have tried install the "BitShares-light_2.15.292.exe", but when I try to create an account, I always receive an error. The same happens with the online wallet at bitshares.openledger.info

Here is the print screen of the error: http://oi60.tinypic.com/141k1h0.jpg

So, I have decided to install "BitShares-2.15.286-66c18c6-win64-cli-tools.exe", still on Windows 7, tried as many commands as I could figure out at the command prompt (based myself here http://wiki.bitshares.org/index.php/Useful_Wallet_Commands) with no success.

Then, I've tried wallet.bitshares.org. Created the wallet, got a recovery key, set a password, but I get this error "Severe network problems | Last block was synced 15h 52m 35s ago".

I was not able to create an account at bitsharestalk.org :/ that's why I am posting this question here (e-mail confirmation message never arrived).

I really need some help here. How can I start?

Thank you

first of all, wallet.bitshares.org is the old bitshares and long dead.

It seems openledger's account creation bot was not funded with enough bitshares to register you, try again.

if it's not working use bitshares.dacplay.org - it's an alternative wallet

after registration make a backup of your wallet and you're free to import it to openledger or the light client

[newBTSuser]

first of all, wallet.bitshares.org is the old bitshares and long dead.

It seems openledger's account creation bot was not funded with enough bitshares to register you, try again.

if it's not working use bitshares.dacplay.org - it's an alternative wallet

after registration make a backup of your wallet and you're free to import it to openledger or the light client

Thank you, I'll try again, and let you know if there's any problem

edit: It worked, Thank you so much for your help.

All the best for Bitshares

[Abiky]

It has been quite some time since the reléase of Bitshares 2.0. But I have this doubt and that is if BTS could keep up with the promised TPS? If BTS has successfully accomplished this, then VISA would be no match for it. Just my opinion. 

[EvilDave]

If BTS had pulled 100k TPS in the real world....they would probably have mentioned it by now.

Stan 'n' Dans total silence on this forum since the BTS 2.0 launch speaks volumes.

[sidhujag]

If BTS had pulled 100k TPS in the real world....they would probably have mentioned it by now.

Stan 'n' Dans total silence on this forum since the BTS 2.0 launch speaks volumes.

No

[Abiky]

Any new innovation or news on Bitshares 2.0? There haven't been too many discussions since its launch. Also, there hasn't been an increase in price yet, as it was rumored to happen. Still, I'm holding my BTS in case something happens. 

[studentwiskunde]

Announcement

Coin price ticker

Added support for exchange Bittrex for coin BitShares.

Coin price ticker supports now two exchanges(Bittrex and Poloniex) for Bitshares.

Also new
The navigation menu is coin based in stead of exchange based.

Go to play store to download: https://play.google.com/store/apps/details?id=wiskunde.nl.coinpriceticker&hl=nl

Sincerely,

Wiskunde

[themerkle]

The price has been sliding, hopefully its just an effect of bitcoin's price rising.

http://themerkle.com/market-analysis/bitshares-technical-analysis-for-11032015-bear-market-continues/