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

[TheRedHawk]

...after all POW is actually secure.

We agree.   PoW is actually secure.

BUT...  PoW is an incredibly inefficient and wasteful way of obtaining that security, and requires trillions upon trillions of wasted hashes per blocktime.  The key point is DPoS Lisk obtains blockchain security levels equal to that of PoW Bitcoin or Ethereium with ONLY ONE hash per 10 second blocktime, NOT trillions of hashes like BTC or ETH.

That's why Lisk is being valued so highly.

LISK represents BOTH a revolutionary way to secure a blockchain AS WELL AS a revolutionary easy way to create sidechains and dapps.

Lisk is superior to Ethereum on both counts.  Period.

I know you know all these points by heart, and you're good at delivering them. But DPOS is not the panacea you think it is. If it were, every currency would move to it.
1. Regarding resilience, how do you guard against a DDOS attack on the 101 delegates?
2. Regarding decentralization, how do you prevent a Sybil attack of delegates?
3. Regarding incentives, long term, how do keep your voters interested in nominating the delegates?

Ans. 1. You can't 2. You can't 3. You won't

1. Regarding resilience, I can guard against a DDoS attack by letting a big-ass firewall system pass data only from the other 100 IP addresses I know are from my fellow delegates.  I don't have to respond to every packet thrown my way and so fall behind with my blocktime tasks.  A DDoS doesn't have to overwhelm 101 delegates; it has to overwhelm 101 big-ass firewall systems protecting those delegates.  That's a much tougher problem.

2. Regarding decentralization, I can examine each of the 101 delegates that are initially selected and make sure they are 101 individual people, then apply the same scrutiny to the trickle of replacements as they come along.  Hey, I personally am doing that right now - take a look:

https://docs.google.com/spreadsheets/d/1mWcV-xWRpetdmqZ0SaI9oizulee8ZDnF-q4B4_zCCn8/edit#gid=0

3. Regarding incentives, I've got a 1000 BTC whale, two 720 BTC devs and a 300 BTC dolphin that will protect their investment by making  sure that good Standby Delegates are promoted as required.  

So...

Ans. 1. We can 2. We are 3. We will

One word to say, FLAWLESS

Impossible to explain better 

[deadpoolx]

Price dropping, just observe the whales movements when they pump it up.

[TheRedHawk]

I am announcing my plans for a profitsharing delegate node called Full_Fat_Profitshare on the Lisk network.

Firstly, this is a sockpuppet BCT account. I have another account which has Senior Member rank, but I do not wish to use it for this project since I don't want to have to moderate my opinions, which I would have to do if I just used the one account for everything.

I have another delegate on the testnet called Sponge_Avengers_Node which I am only using for testing purposes. This node will be withdrawn when Lisk goes live.

So, what's the plan?

My idea is to run an active delegate node that gives 90% of the delegate reward to users who vote for my node in direct proportion to the voting power given to my delegate. Payments will be made regularly using one of the Dapps that is being coded now by several people, they will be made as quickly as the Dapp and economy (tx fees) allow, so as not to have large amounts of Lisk sitting in the wallet. There will be a website where all information will be available in real time - I will likely need a bit of help with this, but it's not massively complicated. DDoS protection will also be employed, if feasable - I am still looking into this.

If this delegate gets into the top 75, I will start a second delegate under the same criteria, but paying out 95% to voters. The idea here is that there is no point being at the top of the list and there would be more profit available by starting a second delegate. Any delegates after this will also pay out at 95%. If the community is not happy with more than one node per person, I will withdraw this proposal and just run the single node.

The delegate is running now on the testnet, it's called Full_Fat_Profitshare, somewhere around rank 420 360 274. Please vote for it now, even though it's a test, because it will allow me to gauge interest in the project.

The delegate is running on a Vultr server in Australia at the moment, I won't bother to give any other specs, you can be assured that it will always be up to the job.

I have lots of experience in email server installation and maintenance, I am technically literate.

This is a malleable project, I am open to suggestions and/or criticism...... interested?


Edit:

I am going to re-jig the reward part of the plan. If the community is happy with it, I shall organise it so that the highest ranked delegate pays out 90% and lower ranked nodes pay out 95%. This is to help keep nodes from falling off the bottom of the 101 because people will be more tempted to vote for the higher paying delegate.

Profit sharing doesn't make any sense to me...

The best way to use the delegate funds is the development of your dapp idea.

IMO is the smartest way to create value.

I'll do it FOR SURE.

In fact, in the next hours I'll post my daap project in our forum.

TRH

[TheRedHawk]

Patience is THE key 

Building dapps is THE THE key 

Simply, that's it.

WHERE is the Lisk potential?

Where are the forces driving up its price to +10$ in the coming future??

In the dapps mates, DAPPs!!!!!

 

[cryptoboy.architect]

I know you know all these points by heart, and you're good at delivering them. But DPOS is not the panacea you think it is. If it were, every currency would move to it.
1. Regarding resilience, how do you guard against a DDOS attack on the 101 delegates?
2. Regarding decentralization, how do you prevent a Sybil attack of delegates?
3. Regarding incentives, long term, how do keep your voters interested in nominating the delegates?

Ans. 1. You can't 2. You can't 3. You won't

1. Actually, people don't have to know who is running your delegate. It just has to broadcast the signed messages through the network, but you can never know which node is actually running a delegate. At least that's how it works in BitShares, not sure if they did it the same in LISK.

2. I'm not happy about fixed 101 people running a large network, which is what I didn't like in BitShares. However, having each side chain run its own 101 delegates (at least as I understand it - that's the model), means that utility will be spread out to more delegates and not just the ones running the main network. I wish they figured out a way to run more delegates, 101 is just too low. Or at least cycle through a larger group. So I agree with you that this here could become a problem in the future.

3. The only way I can think of that would work is by having a lot of stats and reports and an easy way to auto-check and vote out the underperformers. If the checks and balances process is not automated, people won't care to vote. It was the case in BitShares as well.

[ibrahim11]

Do I buy LISK from YoBit or do I wait until official launch?

[Bloodxtz]

Do I buy LISK from YoBit or do I wait until official launch?

wait until official launch

[ZenFr]

Do I buy LISK from YoBit or do I wait until official launch?

it's a troll ?

[ibrahim11]

Do I buy LISK from YoBit or do I wait until official launch?

it's a troll ?

No I am actually not lol  

Price on yobit now is high - i presume it will be lower at official launch?

[gravitate]

Hi All I am Auctioning some lisk. 2 Amounts. 516 and 5,167 Lisk

They come loaded in a nice collectible 1 Troy Oz coin. Auction ends in a week. If you want some at a decent price. Good luck!

516 Lisk
https://bitcointalk.org/index.php?topic=1430262.0


5126 Lisk
https://bitcointalk.org/index.php?topic=1430261.0

[deadpoolx]

Do I buy LISK from YoBit or do I wait until official launch?

wait until official launch

I recommend to wait, but if you have good funds there is a nice game there, crazy volatility.

[bram_vnl]

Lisk = Yobit.net = Yobit dev 

[redcastle]

Lisk = Yobit.net = Yobit dev 

It's IOU, nothing to do with lisk

[naj]

found a nice artwork:

[deadpoolx]

Lisk = Yobit.net = Yobit dev 

Fuck it, just hit 8 bucks/Lisk

[redcastle]

found a nice artwork:

Why not support both and make profit?

[Kevinrasf]

found a nice artwork:

Why not support both and make profit?

Oh I just sneezed coffee right out of my nose.

Lmao.

[Starfleet.Intelligence]

Why not support both and make profit?

I'm pretty sure the intention of LISK is not making money and profit at a first instance. Its NOT ALL ABOUT buying yachts, Lambo, Porsche and Pina Coladas.

It is about:
- Bringing a system to life, that supports security, anti-manipulation and real-world adoption and in the same manner allows to perform payments and run application on it
- Having control over your money, which is not subject to manipulation like in the bankster systems
- Doing this as a strong community which guarantees their enduring suport no matther what the current prices are

Just my 2 LISK.

[deadpoolx]

Why not support both and make profit?

I'm pretty sure the intention of LISK is not making money and profit at a first instance. Its NOT ALL ABOUT buying yachts, Lambo, Porsche and Pina Coladas.

It is about:
- Bringing a system to life, that supports security, anti-manipulation and real-world adoption and in the same manner allows to perform payments and run application on it
- Having control over your money, which is not subject to manipulation like in the bankster systems
- Doing this as a strong community which guarantees their enduring suport no matther what the current prices are

Just my 2 LISK.

Well said, we are in need of wise words here. 

[LiskHQ]

I'm pretty sure the intention of LISK is not making money and profit at a first instance. Its NOT ALL ABOUT buying yachts, Lambo, Porsche and Pina Coladas.

It is about:
- Bringing a system to life, that supports security, anti-manipulation and real-world adoption and in the same manner allows to perform payments and run application on it
- Having control over your money, which is not subject to manipulation like in the bankster systems
- Doing this as a strong community which guarantees their enduring suport no matther what the current prices are

Just my 2 LISK.

Correct.

We want to see really cool applications on top of Lisk. Making everyones life better by making things easier and bringing joy to the people.