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

[captainvest]

I have spent some time in this thread. The delegate thing is weighing on me a bit. I fully understand how delegates work in a political sense but I was wondering if this process can be drawn out better and what purpose it serves? I think I know but I'd like to hear from the team on this. All and all I am very interested in this project. Checking out the ICO articles I'm not exactly sure on the bitcoin conversion to LISK price. Maybe I need more coffee. 

Good luck and will be following along.

[LiskHQ]

What is the significance of 101 DPos forgers?  Can there be more/less?  101 max?

Right now there is a maximum of 101 delegates. If there will be a huge demand and much stress on the network, this number can be increased. However, this is not planned for now. BitShares shows that this system is both decentralized and freaking fast with 101 delegates.

I have spent some time in this thread. The delegate thing is weighing on me a bit. I fully understand how delegates work in a political sense but I was wondering if this process can be drawn out better and what purpose it serves? I think I know but I'd like to hear from the team on this. All and all I am very interested in this project. Checking out the ICO articles I'm not exactly sure on the bitcoin conversion to LISK price. Maybe I need more coffee. 

Good luck and will be following along.

What exactly do you want to know about DPoS and delegates? The advantages/disadvantages to Proof-of-Work?

There will be another blog post soon, which might explain some missing things about the ICO. Once you saw the guide tomorrow evening, everything will be very clear.

[captainvest]

OK looking forward to it, thanks.

I am quite new to the crypto scene so I am learning a bit about how it all works so I am probably showing my ignorance. However, I feel there is an investment opportunity here.

[LiskHQ]

OK looking forward to it, thanks.

I am quite new to the crypto scene so I am learning a bit about how it all works so I am probably showing my ignorance. However, I feel there is an investment opportunity here.

Don't worry.

There are many articles about the different consensus algorithms. If you have any specific questions you can also come to https://lisk.chat/ and ask me directly there.



Edit:

Not sure I understand you correctly, you want me to list advantages vs. disadvantages?

[captainvest]

Sure that might help. 

[LiskHQ]

Sure that might help.  

Hehe, great. Give me an hour, I'm currently preparing a few other things.

[bonipper]

I added the signature, but asking us to pm you that we added the signature might be better than asking us to post in the thread.

Giveaway threads on bitcointalk are banned, and so is giving people any incentive to post insubstantial posts in your threads. The moderators might lock this thread, ban the OP and other people for making insubstantial posts in it.

Most giveaway threads are no longer allowed in the Alternate cryptocurrencies sections. From now on, posting or replying to such threads could result in being banned. Existing threads will be locked.

Specifically, you are not allowed to give people any incentive to post insubstantial posts in your threads. You can't offer to pay people who post their addresses, usernames, etc. You can do giveaways off-site and link to the giveaway page in a thread, but you can't give people any bonus for replying to your thread.

Similar threads are already restricted to Games and Rounds in the non-altcoin sections, but the giveaway-related post volume is so high in the altcoin sections that I've decided to just ban them entirely here.

There is a rule banning zero or low value, pointless or uninteresting posts.

*snip*

1. No zero or low value, pointless or uninteresting posts or threads. [1][e]

*snip*

Examples:

1. Such posts like "SELL SELL SELL", "I agree", "+1", "Support", "Watching", "Interesting", "LOL", "SCAM", "LEGIT", "FAKE", other one word posts, posts consisting mostly of swearing, quote pyramids,useless introduction threads, threads about a topic already recently discussed in several other threads.

*snip*

These identical posts all look like they could be considered insubstantial by the moderators to me.

Signature added !  

Signature added  

Signature added -17/02

Signature added !

Signature added

[captainvest]

Hey no problem. From your FAQ page on delegates:

The Lisk network is both decentralized and trustless. That means no single entity is in direct control. The network is secured by 101 democratically elected delegates. Whose primary responsibility is to confirm and broadcast the validity of transactions. All Lisk accounts on the network are eligible to vote for delegates registered on the Lisk blockchain. The 101 delegates with the most votes are elected with the responsibility of confirming the validity of transactions broadcast on the network. They also receive 100% of all fees collected by the network and all forging rewards.

With this said you can't mine but you can stake. Staking is done only by the 101 delegates? Again, I'm showing my ignorance here.

[Djinou94]

I Heard that You gonna sell the Eth You get immediatly In the market, is It correct?

[MalReynolds2]

I Heard that You gonna sell the Eth You get immediatly In the market, is It correct?

ETH will not be accepted directly during the Lisk ICO.  ETH is only one of many coins that can be used via Shapeshift ( https://shapeshift.io/ ) to purchase Lisk.

There is nothing special about Ethereum.

[kampretkabur]

will try to wear this for a while, is the testnet coin will be destroyed after launch?

[caex]

Signature added.

[LiskHQ]

I added the signature, but asking us to pm you that we added the signature might be better than asking us to post in the thread.

Giveaway threads on bitcointalk are banned, and so is giving people any incentive to post insubstantial posts in your threads. The moderators might lock this thread, ban the OP and other people for making insubstantial posts in it.

Most giveaway threads are no longer allowed in the Alternate cryptocurrencies sections. From now on, posting or replying to such threads could result in being banned. Existing threads will be locked.

Specifically, you are not allowed to give people any incentive to post insubstantial posts in your threads. You can't offer to pay people who post their addresses, usernames, etc. You can do giveaways off-site and link to the giveaway page in a thread, but you can't give people any bonus for replying to your thread.

Similar threads are already restricted to Games and Rounds in the non-altcoin sections, but the giveaway-related post volume is so high in the altcoin sections that I've decided to just ban them entirely here.

There is a rule banning zero or low value, pointless or uninteresting posts.

*snip*

1. No zero or low value, pointless or uninteresting posts or threads. [1][e]

*snip*

Examples:

1. Such posts like "SELL SELL SELL", "I agree", "+1", "Support", "Watching", "Interesting", "LOL", "SCAM", "LEGIT", "FAKE", other one word posts, posts consisting mostly of swearing, quote pyramids,useless introduction threads, threads about a topic already recently discussed in several other threads.

*snip*

These identical posts all look like they could be considered insubstantial by the moderators to me.

Signature added !  

Signature added  

Signature added -17/02

Signature added !

Signature added

Agree. This is a good point even if it creates much more work for me! I will change it in the OP!

From now on, if you insert our text into your signature, please send us a notification about this via PM!


Thank you.



Added this to the OP:

Signature Campaign — 200,000 LISK

Add our official signatures from our Bitcointalk OP to your Bitcointalk profile and receive a stake every week! This way many more crypto-currency enthusiasts will get in contact with Lisk.

In order to make a weekly list of all Bitcointalk users with our signature, they need to send a private message to this account (LiskHQ) at least once. Once a week we go through all the private messages and write down all usernames with our signature. If you have already posted into the Bitcointalk OP once you don't need to send us a PM anymore!

[MaGNeT]

Signature added.

And sent the PM too

What I was wondering, from the Lisk.io website it shows you can exchange your Crypti for Lisk but what will be the exchange rate?
And if you can exchange them, why is volume still so low on PoloniEx?

[haggis]

Signature added and eager for monday

[MalReynolds2]

What I was wondering, from the Lisk.io website it shows you can exchange your Crypti for Lisk but what will be the exchange rate?
And if you can exchange them, why is volume still so low on PoloniEx?

The exchange rate for XCR in the ICO is fixed at 1300 satoshi per XCR.  This is very close to the current price at Poloniex, so there really isn't a big bargain or arbitrage opportunity there and thus low volume.

The fact that the Polo price is around 1300 for satoshi per XCR so close to the upcoming Lisk ICO shows the market sees the ICO fixed price of 1300 as fair.

[LiskHQ]

Hey no problem. From your FAQ page on delegates:

The Lisk network is both decentralized and trustless. That means no single entity is in direct control. The network is secured by 101 democratically elected delegates. Whose primary responsibility is to confirm and broadcast the validity of transactions. All Lisk accounts on the network are eligible to vote for delegates registered on the Lisk blockchain. The 101 delegates with the most votes are elected with the responsibility of confirming the validity of transactions broadcast on the network. They also receive 100% of all fees collected by the network and all forging rewards.

With this said you can't mine but you can stake. Staking is done only by the 101 delegates? Again, I'm showing my ignorance here.

Yes, only the top 101 delegates are actively forging and receiving the rewards.

Advantages of DPOS vs. POW:

- Much less electricity usage
- Blockchain can be secured by small devices as well, like a Raspberry Pi
- Because it's not competitive (mining) the network can perform faster -> 10 second block time
- There is no difference between a "full node" and a "forger". Makes the whole network simpler, simple is always good.
- BitShares founder also said once that 101 dedicated nodes from 101 persons is far more decentralized than Bitcoin with its 15 mining pools.


Disadvantages of DPOS vs. POW:

- People need to become active to vote for the delegates. Often only 20-50% does that of the whole network. (For this case we implemented Forging Rewards, so that all want to become a delegate. We will see if this helps in this case)

I honestly don't know another disadvantage. Anyone has more ideas?

I Heard that You gonna sell the Eth You get immediatly In the market, is It correct?

Please see MalReynolds answer. We will accept ETH through ShapeShift, which will directly be converted by them. We will never own ETH for one second.

the testnet coin will be destroyed after launch?

Yes, all testnet coins will be destroyed several times during the next few weeks. I.e. we will reset the testnet several times.

Signature added.

What I was wondering, from the Lisk.io website it shows you can exchange your Crypti for Lisk but what will be the exchange rate?
And if you can exchange them, why is volume still so low on PoloniEx?

Exchange rate will be 1300 satoshi. Crypti participants won't receive the 15% bonus, therefore there is no advantage to buy them now.

[MaGNeT]

Hey no problem. From your FAQ page on delegates:

The Lisk network is both decentralized and trustless. That means no single entity is in direct control. The network is secured by 101 democratically elected delegates. Whose primary responsibility is to confirm and broadcast the validity of transactions. All Lisk accounts on the network are eligible to vote for delegates registered on the Lisk blockchain. The 101 delegates with the most votes are elected with the responsibility of confirming the validity of transactions broadcast on the network. They also receive 100% of all fees collected by the network and all forging rewards.

With this said you can't mine but you can stake. Staking is done only by the 101 delegates? Again, I'm showing my ignorance here.

Yes, only the top 101 delegates are actively forging and receiving the rewards.

Advantages of DPOS vs. POW:

- Much less electricity usage
- Blockchain can be secured by small devices as well, like a Raspberry Pi
- Because it's not competitive (mining) the network can perform faster -> 10 second block time
- There is no difference between a "full node" and a "forger". Makes the whole network simpler, simple is always good.
- BitShares founder also said once that 101 dedicated nodes from 101 persons is far more decentralized than Bitcoin with its 15 mining pools.


Disadvantages of DPOS vs. POW:

- People need to become active to vote for the delegates. Often only 20-50% does that of the whole network. (For this case we implemented Forging Rewards, so that all want to become a delegate. We will see if this helps in this case)

I honestly don't know another disadvantage. Anyone has more ideas?

I Heard that You gonna sell the Eth You get immediatly In the market, is It correct?

Please see MalReynolds answer. We will accept ETH through ShapeShift, which will directly be converted by them. We will never own ETH for one second.

the testnet coin will be destroyed after launch?

Yes, all testnet coins will be destroyed several times during the next few weeks. I.e. we will reset the testnet several times.

Signature added.

What I was wondering, from the Lisk.io website it shows you can exchange your Crypti for Lisk but what will be the exchange rate?
And if you can exchange them, why is volume still so low on PoloniEx?

Exchange rate will be 1300 satoshi. Crypti participants won't receive the 15% bonus, therefore there is no advantage to buy them now.

Thanks for the quick response!

[MalReynolds2]

I Heard that You gonna sell the Eth You get immediatly In the market, is It correct?

Please see MalReynolds answer. We will accept ETH through ShapeShift, which will directly be converted by them. We will never own ETH for one second.

References about accepting ETH on the lisk.io website come from before the time before Shapeshift joined Lisk as a partner.  Those ETH references will soon be removed before the ICO.

There is nothing special about Ethereum.

[Djinou94]

I Heard that You gonna sell the Eth You get immediatly In the market, is It correct?

ETH will not be accepted directly during the Lisk ICO.  ETH is only one of many coins that can be used via Shapeshift ( https://shapeshift.io/ ) to purchase Lisk.

There is nothing special about Ethereum.

Ok thanks