[ANN][LSK] Lisk | Blockchain Application Platform for JavaScript Developers

[MalReynolds]

Anybody heard of Rootstock?  It apparently is some kind of open source project to bring Ethereum-like smart contracts to the Bitcoin blockchain.   Their effort is literally only a week old; their first blog post was only two days ago.  Their team seems to be a half dozen guys from Argentina.  They have gotten press coverage from eight other guys.

http://www.rootstock.io/#1

Max, I have a couple of thoughts about this. 

Maybe contact these guys to make them aware of Lisk?  Two of them (Zaldivar and Eidelman) claim to be proficient in JavaScript.  Maybe there is a way they could use Lisk and a Lisk Dapp to launch their Rootstock project?  It would be a plus for Lisk if we could claim to be the underlying tech used to add new capability to Bitcoin itself.  Also, if their Rootstock project doesn't take off in the future, maybe they would consider working on Lisk. 

Another idea...the guys that wrote an article on Rootstock could very well be willing to write an article on Lisk.  More free publicity, perhaps. 

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[Come-from-Beyond]

Anybody heard of Rootstock?  It apparently is some kind of open source project to bring Ethereum-like smart contracts to the Bitcoin blockchain.   Their effort is literally only a week old; their first blog post was only two days ago.

They have been in the cryptospace with their project for much longer than a couple of days.

[Come-from-Beyond]

What's your opinion of dPOS?

What's the catch? Or you ask every random dude what they think of DPoS?

[Come-from-Beyond]

Thought I saw a comment a few pages back where you were pointing out flaws in dPoS

Curious why Lisk is using dPoS instead of normal PoS

You confuse me with someone else.

[MalReynolds]

Curious why Lisk is using dPoS instead of normal PoS

In a pure PoS system, the richest coin holders that set up a forging node get most of the rewards from running those nodes.  With DPoS, anybody can set up a forging node no matter how much or how little of the coin they hold, as long as they pay (for Lisk) a 100 coin start fee.   Under DPoS, a poor coin holder / node runner gets the same rewards as a rich coin holder / node runner.  Thus there is incentive for poor coin holders to run a good node to increase their coin holdings.  Since there's a lot more poor coin holders than rich ones, the pool of potential node runners is much bigger.  This is a Good Thing.

[lisker]

One lisk value already over 2000 satoshis. That's a good sign!

[Alexthesalamander]

Im lucky if i still have 50 lisk from my 1 btc when this ico is done 

[aleksand]

Im lucky if i still have 50 lisk from my 1 btc when this ico is done 

Lol, it's impossible)

[MalReynolds]

Im lucky if i still have 50 lisk from my 1 btc when this ico is done 

The rising Satoshi price keeps your declining holdings of Lisk at a constant value of the 1 btc you originally donated.

[LiskHQ]

Im lucky if i still have 50 lisk from my 1 btc when this ico is done 

Lol, it's impossible)

We would have to collect 1,700,000 BTC and there are over 15,260,000 BTC in circulation. Nothing is impossible. 

[Alexthesalamander]

Im lucky if i still have 50 lisk from my 1 btc when this ico is done 

The rising Satoshi price keeps your declining holdings of Lisk at a constant value of the 1 btc you originally donated.

Lets see when it hit the exchanges.. I would never sell whatsoever, but if the price is like 50 sats after the first 24 hours of trading, it would be a little demotivating :p This is my first ICO partipication btw, so sorry for my newbieness!

[tyz]

Thanks, good explanation!
So, dPos is more similar to POI (where amount of stack is secondary, too) instead of POS in some kind.

Curious why Lisk is using dPoS instead of normal PoS

In a pure PoS system, the richest coin holders that set up a forging node get most of the rewards from running those nodes.  With DPoS, anybody can set up a forging node no matter how much or how little of the coin they hold, as long as they pay (for Lisk) a 100 coin start fee.   Under DPoS, a poor coin holder / node runner gets the same rewards as a rich coin holder / node runner.  Thus there is incentive for poor coin holders to run a good node to increase their coin holdings.  Since there's a lot more poor coin holders than rich ones, the pool of potential node runners is much bigger.  This is a Good Thing.

[LiskHQ]

Anybody heard of Rootstock?  It apparently is some kind of open source project to bring Ethereum-like smart contracts to the Bitcoin blockchain.   Their effort is literally only a week old; their first blog post was only two days ago.  Their team seems to be a half dozen guys from Argentina.  They have gotten press coverage from eight other guys.

http://www.rootstock.io/#1

Max, I have a couple of thoughts about this. 

Maybe contact these guys to make them aware of Lisk?  Two of them (Zaldivar and Eidelman) claim to be proficient in JavaScript.  Maybe there is a way they could use Lisk and a Lisk Dapp to launch their Rootstock project?  It would be a plus for Lisk if we could claim to be the underlying tech used to add new capability to Bitcoin itself.  Also, if their Rootstock project doesn't take off in the future, maybe they would consider working on Lisk. 

Another idea...the guys that wrote an article on Rootstock could very well be willing to write an article on Lisk.  More free publicity, perhaps. 

Rootstock is in development for over 1 year or so. Afaik they are porting the EVM to Bitcoin. They will fill out their own niche, but most probably not ours.

Back at Crypti we were in contact with Lerner once, regarding the Proof of Time algorithm.

Curious why Lisk is using dPoS instead of normal PoS

In a pure PoS system, the richest coin holders that set up a forging node get most of the rewards from running those nodes.  With DPoS, anybody can set up a forging node no matter how much or how little of the coin they hold, as long as they pay (for Lisk) a 100 coin start fee.   Under DPoS, a poor coin holder / node runner gets the same rewards as a rich coin holder / node runner.  Thus there is incentive for poor coin holders to run a good node to increase their coin holdings.  Since there's a lot more poor coin holders than rich ones, the pool of potential node runners is much bigger.  This is a Good Thing.

- DPoS makes the whole system much simpler, therefore easier to maintain, control and enhance.
- DPoS also allows us constant 10 second blocks, which will be critical in decentralized applications.
- With DPoS everyone who is active within the community and therefore has some popularity has the chance to become a forger. With PoS if you aren't rich you can forget it to forge.

There are more advantages. But the 10 second blocks really were the important factor for us. Personally I think, DPoS is just a method to achieve decentralization. Now this is done and running perfectly, we won't put much work into this anymore. At Lisk we will concentrate on the decentralized applications and user experience.

[Emerge]

Man my price model for my Dapp turned out to be way too expensive since LISK's value is shooting up..

Guess this turns out to be my investment and my development token at the same time.. Great stuff. Will continue to promote.

Regards
Jm Erestain

[Yenog]

Still haven't received answer to this. I deposited crypti,  then created keys and saw this:

Your Lisk Address
16922697452336912296L
 Keys have been accepted

but I didn't save my lisk passphrase. How to I reset my lisk address, i.e get a new address?

[LiskHQ]

Still haven't received answer to this. I deposited crypti,  then created keys and saw this:

Your Lisk Address
16922697452336912296L
 Keys have been accepted

but I didn't save my lisk passphrase. How to I reset my lisk address, i.e get a new address?

Hello Yenog,

I'm sorry. It seems like I didn't see your message.

Please take a look here: https://lisk.zendesk.com/hc/en-us/articles/207766925

[MalReynolds]

Back at Crypti we were in contact with Lerner once, regarding the Proof of Time algorithm....

- DPoS makes the whole system much simpler, therefore easier to maintain, control and enhance.
- DPoS also allows us constant 10 second blocks, which will be critical in decentralized applications.
- With DPoS everyone who is active within the community and therefore has some popularity has the chance to become a forger. With PoS if you aren't rich you can forget it to forge.

There are more advantages. But the 10 second blocks really were the important factor for us. Personally I think, DPoS is just a method to achieve decentralization. Now this is done and running perfectly, we won't put much work into this anymore. At Lisk we will concentrate on the decentralized applications and user experience.

This leads into a technical area I would like to get out in the open and discuss more.  

We have shown at Crypti that the 0.5.4 code can run very well on microcomputers like Pi2 and even CHIP.  Olivier is even currently running a backbone Crypti node on a Pi2 from his home ISP.  However, having a computer that can execute the 0.5.X code quickly enough is only part of the picture.  As I recall, Litoshi tried to run a Crypti backbone node on a much-higher-than-Pi2-capability home PC from his home ISP.  He failed to sync with the rest of the network due to the "high" latency of his home ISP.  The key to Olivier's Pi2 node success is that his home internet service provider (ISP) has an unusually "low" latency.  

From these experiences, the impact and relationships of network latency on Lisk capabilities needs to be quantified, so people have realistic expectations on what their Lisk DPoS backbone nodes and their Lisk dapp sidechain nodes can accomplish.

In general terms, in the upcoming Lisk network there will be 101 DPoS nodes.   During one blocktime, all of these different nodes must exchange some fixed number of messages W between them in some algorithmic sequence X to write the next block.  How fast these messages can be exchanged determines how fast the overall block time can be.  To get the desired Lisk backbone blocktime of 10 seconds, you need a certain maximum allowed message transfer time Y and thus a certain maximum allowed network latency Z.   What are these WXYZ numbers for the baseline Lisk 10 second blocktime?  I believe this all needs to be described in a technical section of the Lisk whitepaper.

For Lisk sidechains, I believe we need to go beyond the Lisk mainchain case.  We somehow need to allow the use of higher latency internet communications links for sidechains, and allow Lisk sidechain users to increase their blocktimes and set them as required to compensate for high network latency and still work correctly.   There needs to be a formula established for Lisk sidechain users so they can say "My maximum network latency is X, so I have to set my sidechain blocktime at Y or greater".

So, questions.  What is the maximum ISP network latency that would still allow a DPoS delegate to run a Lisk node from their home on a Pi2 or CHIP?   Will Lisk 0.5.X have adjustable sidechain blocktimes allowing the use of home ISP connections to support Lisk sidechains running on networks of Pi2s/CHIPs, no matter how high the latency of the home ISP communcation links connecting them?

[Beijideluotuo]

15% reward of the last day。

[aleksand]

15% reward of the last day。

I'm in)) The last day really)

[Pitchblackroom]

15% reward of the last day。

Yeah planning on depositing a little more today before the 15% reward goes away