FLY COIN ANN.Swapping to "Las Vegas"coin,+Masternodes,Darksend,Stealth, instantX

[Limx Dev]

i think thats the tricky part

u dont check balances of other addresses on normal bitcoin based wallets
u check just single tx which are involved in a transaction

so if someone send coin u know if he is the owner of that coins because he was able sign with correct key
and u can check that this tx he use as input is really unspend until yet

but u have no idea whats his wallet balance is

to do this u would have to know all his incoming and outgoing tx

and not just the few that are involved in a transaction

but if u say u have a solution then im looking forward to see it work

the only solution i see would be
1. each node is a little blockexplorer writting a database that constant track balance of each address
2. u try implement some stuff from miniblockchain (i think cryptonite is the only coin using it and its still in beta stage since forever)
they try to keep a balance of each address stored in the blockchain in a way that in theory u never need to sync more than 10000 blocks
and u know the correct balance of each address

both paths seems to be very complicated

but im no coder and have just a small limited knowledge about how blockchains based on bitcoins are working

maybe im total wrong  

unfortunately yes, you are totally wrong =p

that little block explorer database concept you mentioned is exactly what txleveldb provides metadata for. PoS wouldnt actually be possible without it. the txleveldb already keeps track of the metadata for every transaction in the chain because it is used for metadata about the blocks in the chain. anyone who downloads the chain already has every transaction for every address, they are stored on your computer whenever you sync a block. you just normally dont care about anyone elses transactions except the ones that involve you. so it is fully possible to look up someone elses addresses balance with everything in the wallet as it is, you just need to make the function to do it.

To help balance things:

 - Coins to unlock Flynode should not stake or receive bonus, only Flynode fees.
    - public posted address that shows in the Flynode list in the wallet.

why not? they cant give the masternode reward to themselves, so it doesnt matter if they stake otherwise?
not sure what you mean by public posted address, but the masternode list is held by every client already so if u ever want to know who is running a masternode you can just reference that list. just like you can lookup what peers you are connected to. will give you the same info, CMasterNode is an extension of CNode

- Random selection of node is not guaranteed random.
    - Use an order of sequence from the list of known nodes, and each wallet will step through the Flynodes that are visible to their wallet.
    - Flynode goes down, it loses it's priority and works from the bottom again.  
    - Reliable Flynodes stay in the cycle and receive consistent rewards.
    - Bad actors will receive less rewards.

random selection of node is not guaranteed random? i dont understand what you mean here, it is completely random. uses the built in random functionality so its about as fair as RNG will ever be. if you are concerned that it wont be fair and some people will get more rewards than others, then this is only true in the short term. since its a random number the % should even out to be the same number of rewards to all clients over time as is true with any random algorithm.

all flynodes should be visible to all wallets as long as that flynode is online. you are syncing a list that should always agree with the network. everyone will always have the same flynode list.

if a flynode goes down it is just removed from the list until it comes back online, this is not a statically coded list. it is based on node messaging. so this ties into your next point that yes, reliable fly nodes stay in the cycle because you need to be online to even be considered.

bad actors dont receieve any rewards, if your node has a misbehaving count that is higher than a certain number you arent eligible for selection anyway.

- Flynode should not have an active wallet
    - Coins to unlock a Flynode should not need to be in the wallet of the Flynode (you are setting up attack targets).
    - Use an Address and secret key combination to unlock the node.  
    - The rewards are set to the Address that is running in another wallet (secure behind a firewall).

it was never stated that your flynode had to be an active/unlocked wallet. it just has to be on the network (client has to be running, not unlocked). as with any cryptocurrency the security of the wallet is your responsibility. being a flynode should not decrease your wallet security at all from a code standpoint. it is still the responsibility of the person running a wallet to make sure their system and home networks are secure.

if the coins of a flynode arent in the flynode how do you know its a valid flynode? just keep the wallet locked if you are concerned about someone attacking your network.  

I recommend a normal masternode system with Tor and 1000 Fly per Node. Then POS and Node 50/50. I think that is work for 1-2 weeks. 

[cryptonit]

that little block explorer database concept you mentioned is exactly what txleveldb provides metadata for. PoS wouldnt actually be possible without it. the txleveldb already keeps track of the metadata for every transaction in the chain because it is used for metadata about the blocks in the chain. anyone who downloads the chain already has every transaction for every address, they are stored on your computer whenever you sync a block. you just normally dont care about anyone elses transactions except the ones that involve you. so it is fully possible to look up someone elses addresses balance with everything in the wallet as it is, you just need to make the function to do it.

this is clear to me that the local copy of the blockchain know any transaction and so u can find out the balance of each address

but can u imagine how much load it create to calculate a address balance

make a importprivkey and u know it its over 1 min for a single address

in fact its a whole chain rescan

that why i said u need a additional database with better index optimized for searching
maybe only store transactions of registered flynodes

i would listen to limx dev
a normal masternode system flat POS block rewards and split reward between POS minter and masternode
thats a save path to a working system

the other path could create something new but its very uncertain u able u achieve it

to me it looks far more complicated to make that vision of flynode happen then teh antidump features where
and we know all how that experiment endet

[vegasguy]

that little block explorer database concept you mentioned is exactly what txleveldb provides metadata for. PoS wouldnt actually be possible without it. the txleveldb already keeps track of the metadata for every transaction in the chain because it is used for metadata about the blocks in the chain. anyone who downloads the chain already has every transaction for every address, they are stored on your computer whenever you sync a block. you just normally dont care about anyone elses transactions except the ones that involve you. so it is fully possible to look up someone elses addresses balance with everything in the wallet as it is, you just need to make the function to do it.

this is clear to me that the local copy of the blockchain know any transaction and so u can find out the balance of each address

but can u imagine how much load it create to calculate a address balance

make a importprivkey and u know it its over 1 min for a single address

in fact its a whole chain rescan

that why i said u need a additional database with better index optimized for searching
maybe only store transactions of registered flynodes

i would listen to limx dev
a normal masternode system flat POS block rewards and split reward between POS minter and masternode
thats a save path to a working system

the other path could create something new but its very uncertain u able u achieve it

to me it looks far more complicated to make that vision of flynode happen then teh antidump features where
and we know all how that experiment endet

Cryptonit, I think comparing the anti-dump system risk, and the flynode risk are two different things. Here is why... the antidump system was a key part of sending and withdrawals, the flynode system is NOT. So when the antidump system failed, it prevented transactions, a MAJOR component. With the flynode, should it by chance not work correctly, fly will still function. People will still be able to move funds around, and its not a "show stopper" like the antidump system. If enough people posted here, that they strongly favor a standard masternode system, then I would strongly consider changing it. Also I would consider who it is thats posting. If its been long time fly loyalists saying they dont want this flynode, and they want a standard masternode system that would cause me to seriously consider a standard masternode. Know this , if we implemented a standard masternode system, then Im not sure it would add any value to fly. I would like to give flynode a shot first, then if for some reason, its not what we expected, then I will implement a standard masternode system.

Vegas

[kiklo]

hmm,
one point of interest, since Fly is a rare coin with numbers below 1 billion.

In a standard masternode system,
those coins being held do not stake, which is no issue for PoW coins,
however for a PoS coin, this would decrease the amount of staking coins and decrease the network difficulty, thereby weakening your PoS Security.

However your FlyNode,
there would be no decrease in network difficulty and in fact since these nodes will be running ~24x7, should cause an increase in your PoS Security.  

For a PoS coin Flynode design would be better than the old masternode design, from a security standpoint.

 

[vegasguy]

hmm,
one point of interest, since Fly is a rare coin with numbers below 1 billion.

In a standard masternode system,
those coins being held do not stake, which is no issue for PoW coins,
however for a PoS coin, this would decrease the amount of staking coins and decrease the network difficulty, thereby weakening your PoS Security.

However your FlyNode,
there would be no decrease in network difficulty and in fact since these nodes will be running ~24x7, should cause an increase in your PoS Security.  

For a PoS coin Flynode design would be better than the old masternode design, from a security standpoint.

 

Whats your fly address

[vegasguy]

Guys I watch the gauges. I always need to know if Im headed in the right direction. There are many signals. It could be user feedback, or activity on the exchange, the activity on the thread and more. It lets me know if I am headed down the right path or not. Well, fly is really starting to pick up steam. That tells me , that they really like the idea, and are getting as much fly as they can , before there is none left. The WORST thing you can do now is send funds to the exchange. If we want the price to go up, then we need to hold. Because now there is a major shortage of fly on Yobit. There is and will be more demand as things move further. Here is universal law. Supply and demand. When the demand far outweighs the supply, prices go very high. Im going to ask everyone to hold and not send to the exchange to make the supply even less, thus raising prices even more. The screen shot below was taken just minutes ago, it tells me everything I needed to know



https://www.yobit.net/en/trade/FLY/BTC

Vegas

[wingless]

Is it possible to realistically solo mine this coin? If so, can you do it through the gui wallet? Or do you need a stand alone miner?

Thanks

[vegasguy]

Is it possible to realistically solo mine this coin? If so, can you do it through the gui wallet? Or do you need a stand alone miner?

Thanks

Im sorry mining is over. We are POS only now. However in a few weeks we will have a multipool that pays out in fly.

Thanks
Vegas

[pokeytex]

@vegasguy - anyway you can make sure that the wallet links on the OP have the version number listed?  It is confusing without it.

[vegasguy]

@vegasguy - anyway you can make sure that the wallet links on the OP have the version number listed?  It is confusing without it.

Excellent idea. Ill put the date released also.

Thanks

Vegas

[midnight_miner]

hmm,
one point of interest, since Fly is a rare coin with numbers below 1 billion.

In a standard masternode system,
those coins being held do not stake, which is no issue for PoW coins,
however for a PoS coin, this would decrease the amount of staking coins and decrease the network difficulty, thereby weakening your PoS Security.

However your FlyNode,
there would be no decrease in network difficulty and in fact since these nodes will be running ~24x7, should cause an increase in your PoS Security.  

For a PoS coin Flynode design would be better than the old masternode design, from a security standpoint.

 

Do you have any math to back up your statement?  I don't see that it holds water.

[kiklo]

hmm,
one point of interest, since Fly is a rare coin with numbers below 1 billion.

In a standard masternode system,
those coins being held do not stake, which is no issue for PoW coins,
however for a PoS coin, this would decrease the amount of staking coins and decrease the network difficulty, thereby weakening your PoS Security.

However your FlyNode,
there would be no decrease in network difficulty and in fact since these nodes will be running ~24x7, should cause an increase in your PoS Security.  

For a PoS coin Flynode design would be better than the old masternode design, from a security standpoint.

 

Do you have any math to back up your statement?  I don't see that it holds water.

Hmm,
it should be apparent , but since you asked for math ,
here you go.  

hashProofOfStake <= [Coin-age] x [Target]      
[Coin-age] = [amount of coins] x [days in stake]      
      

 

[kiklo]

Kiklo's Premium Blockchain Snapshot Service

FlyCoin SnapShot updated to 9-14-2016

Snapshot
https://bitcointalk.org/index.php?topic=1378653.msg16243107#msg16243107

Bootstrap
https://mega.nz/#F!CJRnyDDL!vbYN-3mvj9RBE7Phl27Sjg

 

[bittamak]

Looks like the Dev is confident of implementing the new suggestions...it's certainly good to see the concerns/questions raised from community and as long as Dev has answers, i don't see a reason why we can't build the new system...

[midnight_miner]

hmm,
one point of interest, since Fly is a rare coin with numbers below 1 billion.

In a standard masternode system,
those coins being held do not stake, which is no issue for PoW coins,
however for a PoS coin, this would decrease the amount of staking coins and decrease the network difficulty, thereby weakening your PoS Security.

However your FlyNode,
there would be no decrease in network difficulty and in fact since these nodes will be running ~24x7, should cause an increase in your PoS Security.  

For a PoS coin Flynode design would be better than the old masternode design, from a security standpoint.

 

Do you have any math to back up your statement?  I don't see that it holds water.

Hmm,
it should be apparent , but since you asked for math ,
here you go.  

hashProofOfStake <= [Coin-age] x [Target]      
[Coin-age] = [amount of coins] x [days in stake]      
      

 

I wish modeling p2p networks and staking wallets was that simple.  How do you factor in user perception and statistical variables such as the number of nodes vs Flynodes?

[CryptoGore]

i'm new to this, any guide to masternodes?

[metamorphin]

i'm new to this, any guide to masternodes?

We are not ready yet, but of course we will have a guide for a FlyNode.

Be smart and buy the first coins to reach one FlyNode.

Greetz
Steve

[vegasguy]

Guys, Ive updated some of the information on the OP, including a link to Presstabs' block explorer. Also added the version # of the wallet and date released (Thank you Pokeytex, for this great suggestion). Later I will add a new banner called "Flynode", and write the description and details.

Vegas

[kiklo]

I wish modeling p2p networks and staking wallets was that simple.  How do you factor in user perception and statistical variables such as the number of nodes vs Flynodes?

User Perception     = Irrelevant
Number of Nodes   = Important to help with syncing and help in blocking a sybil attack ,
However # of Staking coins has a greater effect on security than # of Nodes .
Reason: Longest Chain with the Highest Difficulty always wins.

The more coins that are staking the higher the security, since the fly node design would have more people stay online longer, their coins will be staking more.
Where as the old masternode design guarantees those coins are not staking and deceases the overall % of coin even available to stake,
ie: Less Coins Staking , Lowers the hashProofOfStake , which means weaker security.
     More Coins Staking , Raises the hashProofOfStake  , which means stronger security.

It is Logic, it is not complicated.  

 

[Woody20285]

                       Happy Birthday FlyCoin!



             1 Year Old Today & Still Moving Forward