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Author Topic: [ANN][LSK] Lisk | Blockchain Application Platform for JavaScript Developers  (Read 3073111 times)
dzarmush
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March 13, 2016, 11:04:42 AM
 #2881


Lot of people invested in this ICO without realizing that this entire project is a fork of the old Crypti coin and dapp platform.

Lisk Devs have yet to "create" anything new here, this why I think Lisk will drop as soon as it hits the exchanges. There will be many opportunities to buy below ICO price, until Devs actually release new features that they create, not something cloned from Crypti.

Most projects start with an ICO and have only a whitepaper and no finished code as a base to start from.

Lisk already has this.

Not saying price will go up but it is not likely to go down.

Not sure if join or not!!! How much would you invest?? Tongue

Don't be fooled by the 5% bonus, ICO is way too overpriced right now, just wait and buy after it launches on exchanges.

It will drop in price just like 99% of all other ICOs when they launch on exchanges.

You could literally pickup 2 or 3  times more Lisk then  Wink



I wonder why only newbies with 1-3 posts know exactly what happens in future  Smiley

tuvok007
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March 13, 2016, 11:05:06 AM
 #2882

Current price 0.02314 usd or 5565 sathosi per lisk.
MalReynolds
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March 13, 2016, 11:07:20 AM
Last edit: March 13, 2016, 12:52:47 PM by MalReynolds
 #2883

Lot of people invested in this ICO without realizing that this entire project is a fork of the old Crypti coin and dapp platform.  Lisk Devs have yet to "create" anything new here, this why I think Lisk will drop as soon as it hits the exchanges. There will be many opportunities to buy below ICO price, until Devs actually release new features that they create, not something cloned from Crypti.
Most projects start with an ICO and have only a whitepaper and no finished code as a base to start from. Lisk already has this. Not saying price will go up but it is not likely to go down.
Not sure if join or not!!! How much would you invest?? Tongue
Don't be fooled by the 5% bonus, ICO is way too overpriced right now, just wait and buy after it launches on exchanges.  It will drop in price just like 99% of all other ICOs when they launch on exchanges. You could literally pickup 2 or 3  times more Lisk then  Wink

64% of the estimated current ICO market value of Lisk is pure liquid cash.  Buy every single Lisk you can on an exchange that is priced lower than 0.64 of the launch price.  Those sellers will be literally giving money away for free.  With such buy pressure, there is no way the post-launch price devaluation factor will hit "two times" (0.50) or "three times" (0.33) what you can get during the ICO.

My opinion is that Lisk will pop and pop big because of the installed infrastructure on Day One, and all the publicity that is going to be generated by the approx. 4000+ BTC donation effort.  99% of the crypto world are not part of the ICO and has yet to even hear the word Lisk.  Soon they will, and they will want in.
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March 13, 2016, 11:13:04 AM
 #2884

Ripple - Over 30M USD from VC's - 708,875 BTC market cap
Ethereum - 31,531 BTC from presale - 2,631,335 BTC market cap
MaidSafe - around 12,200 in BTC from presale - 109,525 BTC market cap
Stellar - 3M USD from Stripe - 30,538 BTC market cap
Bitshares - 500,000 USD from investors + 5625 BTC in donations (via BTS AGS) - 49,051 BTC market cap
Lisk - around 4400 BTC from presale. 8 days to go!
Factom - 2287 BTC from presale - 52,625 BTC market cap

redcastle
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March 13, 2016, 11:36:59 AM
 #2885

Ripple - Over 30M USD from VC's - 708,875 BTC market cap
Ethereum - 31,531 BTC from presale - 2,631,335 BTC market cap
MaidSafe - around 12,200 in BTC from presale - 109,525 BTC market cap
Stellar - 3M USD from Stripe - 30,538 BTC market cap
Bitshares - 500,000 USD from investors + 5625 BTC in donations (via BTS AGS) - 49,051 BTC market cap
Lisk - around 4400 BTC from presale. 8 days to go!
Factom - 2287 BTC from presale - 52,625 BTC market cap


Incredible!!! Should invest at least 1 BTC then
MalReynolds
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March 13, 2016, 11:37:54 AM
 #2886

Ripple - Over 30M USD from VC's - 708,875 BTC market cap
Ethereum - 31,531 BTC from presale - 2,631,335 BTC market cap
MaidSafe - around 12,200 in BTC from presale - 109,525 BTC market cap
Stellar - 3M USD from Stripe - 30,538 BTC market cap
Bitshares - 500,000 USD from investors + 5625 BTC in donations (via BTS AGS) - 49,051 BTC market cap
Lisk - around 4400 BTC from presale. 8 days to go!
Factom - 2287 BTC from presale - 52,625 BTC market cap

Very interesting  data.  I have converted everything to current $415 BTC (yeah, I know, somewhat inaccurate, not "BTC price pop / price drop" adjusted) and added the most important one that you forgot.



NXT is in its twilight.  In mid-2014 it was valued ten times higher than it is now.  And those 21 BTC that started NXT were only about $220 each.

Incredible!!! Should invest at least 1 BTC then
Duh.
cryptoboy.architect
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March 13, 2016, 11:48:52 AM
 #2887

Silly technical question. If there is no "gas" as in ETH, how does LISK deals with code that runs forever, or worse locks up in some infinite loop?
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March 13, 2016, 12:02:06 PM
 #2888

Ripple - Over 30M USD from VC's - 708,875 BTC market cap
Ethereum - 31,531 BTC from presale - 2,631,335 BTC market cap
MaidSafe - around 12,200 in BTC from presale - 109,525 BTC market cap
Stellar - 3M USD from Stripe - 30,538 BTC market cap
Bitshares - 500,000 USD from investors + 5625 BTC in donations (via BTS AGS) - 49,051 BTC market cap
Lisk - around 4400 BTC from presale. 8 days to go!
Factom - 2287 BTC from presale - 52,625 BTC market cap

Very interesting  data.  I have converted everything to current $415 BTC (yeah, I know, somewhat inaccurate, not "BTC price pop / price drop" adjusted) and added the most important one that you forgot.



NXT is in its twilight.  In mid-2014 it was valued ten times higher than it is now.  And those 21 BTC that started NXT were only about $220 each.

Incredible!!! Should invest at least 1 BTC then
Duh.


You are taking just the successfull projects. There is a chance that lisk will rise, but why should it rise, when crypti also did not rise and fell after the ICO?

The story will repeat as its the same plot.

I support LISK because of the tech and want the team behind LISK success in a one year frame, if they will deliver, making a good promotion and tech job.
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March 13, 2016, 12:21:15 PM
 #2889

Silly technical question. If there is no "gas" as in ETH, how does LISK deals with code that runs forever, or worse locks up in some infinite loop?

There is no such thing as a silly question.

Any dapp code that malfunctions is on a separate sidechain being run on separate servers operated by the dapp owner.  Malfunctions are his problem.  His problems do not affect either the Lisk mainchain or DPoS delegate node network.
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March 13, 2016, 12:24:25 PM
 #2890


NXT is in its twilight.  In mid-2014 it was valued ten times higher than it is now.  And those 21 BTC that started NXT were only about $220 each.


That's not thrue during the nxt ICO the BTC have reached their maximum price of all the time.
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March 13, 2016, 12:29:47 PM
Last edit: March 13, 2016, 12:50:33 PM by MalReynolds
 #2891


You are taking just the successfull projects. There is a chance that lisk will rise, but why should it rise, when crypti also did not rise and fell after the ICO? The story will repeat as its the same plot.

I support LISK because of the tech and want the team behind LISK success in a one year frame, if they will deliver, making a good promotion and tech job.

Crypti spent a year and a half wandering in the wilderness trying to overcome problems with its 10 second blocktime Proof of Time algorithm (which failed) and then switch from a PoC/PoP/PoT reward system (don't ask) to a DPoS delegate system.  By the time the Crypti dev team took its final few months to implement sidechains and dapps (finally - a super great idea!) , the Crypti team was broke (both in purse and in spirit) and falling apart.  

Lisk is not the same plot.  It is going to skip 99% of the drama that ultimately killed Crypti.  
MalReynolds
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March 13, 2016, 12:39:25 PM
 #2892

NXT is in its twilight.  In mid-2014 it was valued ten times higher than it is now.  And those 21 BTC that started NXT were only about $220 each.
That's not thrue during the nxt ICO the BTC have reached their maximum price of all the time.

Sorry, the true number was much lower than my $220 estimate - and nowhere near "maximum price of all time".

The NXT ICO started on September 28, 2013:

https://bitcointalk.org/index.php?topic=303898.0

Bitcoin price on October 3, 2013 was $130 :

https://web.archive.org/web/20131005112105/http://coinmarketcap.com/

By October 29, 2013 BTC had popped into the $200+ range that I remember for that time:

https://web.archive.org/web/20131029215827/http://coinmarketcap.com/


Facts.  I love facts.
LiskHQ (OP)
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March 13, 2016, 01:06:51 PM
Last edit: March 13, 2016, 01:17:28 PM by LiskHQ
 #2893

http://www.merriam-webster.com/dictionary/lisk

Okay this isn't fud but Lisk means groin?  Cheesy

I really like the ideas for the project but this thing here...

Was this name choice deliberate? Why was this name chosen? What is a lisk?

Check out this ( https://www.reddit.com/r/Lisk/comments/477728/did_anyone_actually_bother_to_google_lisk_it/ ) and my top comment. Smiley


@Max: I recommend you subscribe on this.  Splurge for the "Advanced" package;  I think you have the funds available for it.   Wink

http://www.alexa.com/plans?ax_atid=c151db38-75b9-4c2c-8fa9-83ca6589ee4a

We are on Google Analytics. No need to pay for this.

1. US
2. Germany
3. UK
4. Netherlands
5. Russia
6. Brazil
7. Indonesia


Silly technical question. If there is no "gas" as in ETH, how does LISK deals with code that runs forever, or worse locks up in some infinite loop?

There are no silly questions. Smiley

Every transaction which involves a blockchain WRITE needs fees, else you can't prevent spam. This is something the dapp dev has to take care of.

If it is in an infinite loop it will simply crash, like any regular apps. The loop can't be blockchain based, due to the fees. But it can be in the front end for example. It's a regular bug and needs to be fixed with an update.





This is a story about an exchange

It has 33% of all lisk. It has 101 votes. It votes for 101 of it's 1 lisk wallets.

You assume that the first 51 delegates have less than 33% of all votes. Where you got that number? Smiley

The exchange would have enough of the money supply to control all the delegates. They wouldn't need votes from the people.

If they control delegates proportional to their holdings, that's one thing. But with delegates, they don't even need a majority if the rest of the vote is split.

There is nothing in the protocol to prevent full control by a minority holder. No other blockchain security system has this sort of weakness.

Yes, people don't need the majority of coins, but only the majority of votes to have temporary control. This is due to the fact that all Lisk users elect the delegates.

It's not true that you state that no other blockchain system has this weakness. ALL others have this as well, but just in a different aspect.

In the case of Proof of Stake coins, the attacks obviously come back to the amount of coins you own. Therefore you can either take the total of coins you need as an argument and the centrality of the pools.

Nxt: There are currently only 411M NXT forging in "forging pools". 11 of the biggest pools have over 50% of all forging power. Due to only 411M NXT forging, you only need to have a bit over 20.55% of all NXT (411/1000*0,5=0,2055). That means NXT is attackable to 20.55% attacks as far as I see it.

In the case of Proof of Work coins, you can only use the pools hash rate as an argument.

Bitcoin: Individual mining is irrelevant. Pools are the only option. There are currently only a handful of pools with a hash rate worth mentioning. Already the top 2 pools have over 50% of all mining power.

What does that mean? It means that crypto-currencies are more centralized than commonly believed.

But! These numbers are all temporary. Same as with Lisk.

In the case of Nxt, the users can
- remove the NXT lease from the forging pools.
- forge on their own to make the total of all NXT forging going to near 100%.
- withdraw their NXT from exchanges who are exploiting their big stake.

In the case of Bitcoin, the users can
- switch pools
- use P2Pools
- Mine on their own again (questionable)


What does it mean for security? In my opinion Proof of Stake is more secure, due to the financial incentive. Why should anyone attack NXT with his own 20% of coins, for which he paid a big amount of money. Of course this argument is more philosophical than mathematical. In terms of pool power Nxt is more decentralized than Bitcoin. In Lisk case the number of "pools" = delegates are even higher.


Let's get back to Lisk. If an exchange owns so many LISK, the users can at least see and countercheck easily if the exchange is voting with these LISK. It's all visible with this API call:

Code:
/api/accounts/delegates/?address=address

If you don't know the delegate address of an exchange, only the address of the regular exchange account, then this API call helps you out:

Code:
/api/delegates/voters?publicKey=publicKey

For example on our test network for the delegate 'genesisDelegate52':

Code:
https://login.lisk.io/api/delegates/voters?publicKey=07868b5b97233eb5ce301edfd16601e1ecf2661481b39a0bdea59391104dc42c

Results in:

Code:
{"success":true,"accounts":[{"address":"17649443584386761059L","balance":0},{"address":"12475940823804898745L","balance":2010000700},{"address":"10264531957766216184L","balance":8870000000},{"address":"14219782977503476609L","balance":54650000000},{"address":"9564105524193969327L","balance":79200000000},{"address":"14351749629158385068L","balance":79240000000},{"address":"800918319007426191L","balance":79690000000},{"address":"11339622397070425761L","balance":79790000000},{"address":"10552444389043734240L","balance":79900000000},{"address":"4838376936255854793L","balance":79980000000},{"address":"9363468559265530069L","balance":79990000000},{"address":"13496593907171241705L","balance":80300000000},{"address":"7797118170050130947L","balance":88490000000},{"address":"13278231667654341222L","balance":89100000000},{"address":"13667581226236683784L","balance":89580000000},{"address":"14968906762435933462L","balance":89700000000},{"address":"2970227194578908531L","balance":89700000000},{"address":"13921127593811670351L","balance":89800000000},{"address":"14636091225572299068L","balance":89800000000},{"address":"16075773430694729476L","balance":89800000000},{"address":"2465376505472839010L","balance":89800000000},{"address":"8797390455410370280L","balance":89800000000},{"address":"10589996627203409984L","balance":89900000000},{"address":"13006468928470284770L","balance":89900000000},{"address":"14080308827940367132L","balance":89900000000},{"address":"12248536304420527538L","balance":99800000000},{"address":"14624302329273634583L","balance":99900000000},{"address":"15806643322935220312L","balance":179500000000},{"address":"930710356977214870L","balance":477570000000},{"address":"40565469756652219L","balance":1048000000000},{"address":"13929185126330236760L","balance":1076470000000},{"address":"12771083228258353736L","balance":10074300000000},{"address":"2686619600065520376L","balance":9599849950000000}]}

If an exchange is abusing his power, people can see it and act. In this case they can withdraw the LISK from this exchange (decreasing the voting power of the exchange) and voting with the withdrawn LISK for other delegates (increasing the difference to the exchange even further).


Also, it's not a 51% attack. It is a 100% attack by a minority holder. A minority holder can control 100% of the security mechanism. That can't be said of Bitcoin or any PoS system.

A "51% attack" is just the laymen term. It's in fact a ">50% attack" and every ">50% attack" automatically is a "100% attack" as well, at least practically. If you own the majority of a system, the system is yours.

You are again wrong that this can't be said about other systems.

- At Bitcoin someone who owns 0 BTC can have the most mining power and control the whole system. (It's possible, but unlikely)
- At Nxt someone who owns 0 NXT, but received over 20% of all NXT as leased NXT can control the whole system. (Extremely unlikely)

- However, at Lisk someone with 0 LISK will have it EXTREMELY difficult to find the trust of the community to get enough votes for 51 delegates. That means he needs more votes (LISK amount*10^8) than the 51th delegate received in total from the whole network.  

This is the networks responsibility to vote accordingly and get the best security out of the DPoS system.


I'll accept that this is a reasonable system if a balance vote is split among the 101 delegates. For example if a wallet has 101 LISK and votes for 101 delegates, each would get 1 LISK worth of vote.

This won't work. Everyone would only vote for himself and everyone who owns more than 1% LISK could run at least 1 delegate forever. This is unfair, because nobody else could prevent him from doing so.



How we get more people voting:

We will introduce a "Forging Pool" in the future (as a dapp). Delegates can run them on their nodes and register their delegate account on the sidechain. With this pool the delegates can then distribute a part of their earnings to the voters automatically every X days.

This will create an incentive for users to withdraw funds from the exchanges and vote for trusted individuals. In order to confirm trusted individuals, we will introduce an "Identity Dapp" in the future, in which people can associate their account with an username, real name, social media profiles, photo, and much more.

More information about all this will follow before we launch.

Lisk.io - Blockchain Application Platform
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March 13, 2016, 01:15:27 PM
 #2894


Incredible!!! Should invest at least 1 BTC then
Duh.

Hey, it's all I got! Tongue wish me luck!
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March 13, 2016, 01:17:21 PM
Last edit: March 13, 2016, 01:27:49 PM by Videodrome
 #2895



Facts.  I love facts.

Your message are always in "i know everything mode"

There are a lot of old forum user here also with different name.So don't pretend to be a professor.

So if you like facts this is the NXT ICO wallet :

https://blockchain.info/address/1BCN1ugdKdWd9pQ8Am9hMhtHZfmbXzxE8a?offset=0&filter=2

and this is one of the nxt ICO transcation:

https://blockchain.info/it/tx/d1d4c0de9338e96f1e60774ea58f8e93b3827be67a3f8c67b8825ce7f41c85d5


as you can see 0.3 BTC was valued 260$ dollar


I hope you know math.

have a nice day

btw i don't want to go off topic so for me the discussione stop here  Grin
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March 13, 2016, 01:25:11 PM
 #2896

Tell us your best Dapp ideas & win great prizes!

Only 16 hours left to participate and submit your idea!


Decentralized applications can be thought of as the “bread and butter” of Lisk. Therefore, in order to provide our Lisk Dapp developers with the inspiration to get coding dapps as soon as possible, today we are starting a contest for the best Dapp ideas.


Contest Details

Make a concept for your dream Dapp, and post it to our official forum on the “Decentralized Applications” board. Your concept can contain descriptions, images, diagrams, projections and code. The more elaborate your concept is, the higher your chance of winning.

The contest starts with this announcement (7th March) and ends on the 13th March, at the same time as the BTC exchange bonus drops from 5% to 0%. Please note, early submissions will have no greater priority over later submissions.

We (Oliver and Max) will elect the three winners ourselves, based upon feedback from the community. Winners will be chosen based on the ideas which we feel will draw the biggest attention, and create practical use-cases for the Lisk network.

Everyone can submit as many ideas as they want. To avoid someone submitting an idea before you have completed a submission, you may briefly describe your idea in a forum post, and then enhance that submission over the course of the week with further materials.

Decision criteria

- Quantity and quality of the concept materials (50%)
- Benefits to the Lisk ecosystem (30%)
- Feasibility (20%)


Prizes

The best three ideas will get their own video similar to this one, which can then be used to promote your idea to potential investors, the Lisk community or business partners.

Additionally, we will give out a Raspberry Pi 2, Raspberry Pi 3 and Lisk T-Shirts, according to the following prizes:

- First prize: Raspberry Pi 3 + Lisk T-Shirt + Video
- Second prize: Raspberry Pi 2 + Lisk T-Shirt + Video
- Third prize: Lisk T-Shirt + Video


We shall also use the Dapp ideas and videos to promote the Lisk platform to potential developers. All concept materials will be made public, and will be placed in the hands of the whole Lisk community



Blog Post Announcement



This is a story about an exchange

It has 33% of all lisk. It has 101 votes. It votes for 101 of it's 1 lisk wallets.

You assume that the first 51 delegates have less than 33% of all votes. Where you got that number? Smiley

The exchange would have enough of the money supply to control all the delegates. They wouldn't need votes from the people.

If they control delegates proportional to their holdings, that's one thing. But with delegates, they don't even need a majority if the rest of the vote is split.

There is nothing in the protocol to prevent full control by a minority holder. No other blockchain security system has this sort of weakness.

Yes, people don't need the majority of coins, but only the majority of votes to have temporary control. This is due to the fact that all Lisk users elect the delegates.

It's not true that you state that no other blockchain system has this weakness. ALL others have this as well, but just in a different aspect.

In the case of Proof of Stake coins, the attacks obviously come back to the amount of coins you own. Therefore you can either take the total of coins you need as an argument and the centrality of the pools.

Nxt: There are currently only 411M NXT forging in "forging pools". 11 of the biggest pools have over 50% of all forging power. Due to only 411M NXT forging, you only need to have a bit over 20.55% of all NXT (411/1000*0,5=0,2055). That means NXT is attackable to 20.55% attacks as far as I see it.

In the case of Proof of Work coins, you can only use the pools hash rate as an argument.

Bitcoin: Individual mining is irrelevant. Pools are the only option. There are currently only a handful of pools with a hash rate worth mentioning. Already the top 2 pools have over 50% of all mining power.

What does that mean? It means that crypto-currencies are more centralized than commonly believed.

But! These numbers are all temporary. Same as with Lisk.

In the case of Nxt, the users can
- remove the NXT lease from the forging pools.
- forge on their own to make the total of all NXT forging going to near 100%.
- withdraw their NXT from exchanges who are exploiting their big stake.

In the case of Bitcoin, the users can
- switch pools
- use P2Pools
- Mine on their own again (questionable)


What does it mean for security? In my opinion Proof of Stake is more secure, due to the financial incentive. Why should anyone attack NXT with his own 20% of coins, for which he paid a big amount of money. Of course this argument is more philosophical than mathematical. In terms of pool power Nxt is more decentralized than Bitcoin. In Lisk case the number of "pools" = delegates are even higher.


Let's get back to Lisk. If an exchange owns so many LISK, the users can at least see and countercheck easily if the exchange is voting with these LISK. It's all visible with this API call:

Code:
/api/accounts/delegates/?address=address

If you don't know the delegate address of an exchange, only the address of the regular exchange account, then this API call helps you out:

Code:
/api/delegates/voters?publicKey=publicKey

For example on our test network for the delegate 'genesisDelegate52':

Code:
https://login.lisk.io/api/delegates/voters?publicKey=07868b5b97233eb5ce301edfd16601e1ecf2661481b39a0bdea59391104dc42c

Results in:

Code:
{"success":true,"accounts":[{"address":"17649443584386761059L","balance":0},{"address":"12475940823804898745L","balance":2010000700},{"address":"10264531957766216184L","balance":8870000000},{"address":"14219782977503476609L","balance":54650000000},{"address":"9564105524193969327L","balance":79200000000},{"address":"14351749629158385068L","balance":79240000000},{"address":"800918319007426191L","balance":79690000000},{"address":"11339622397070425761L","balance":79790000000},{"address":"10552444389043734240L","balance":79900000000},{"address":"4838376936255854793L","balance":79980000000},{"address":"9363468559265530069L","balance":79990000000},{"address":"13496593907171241705L","balance":80300000000},{"address":"7797118170050130947L","balance":88490000000},{"address":"13278231667654341222L","balance":89100000000},{"address":"13667581226236683784L","balance":89580000000},{"address":"14968906762435933462L","balance":89700000000},{"address":"2970227194578908531L","balance":89700000000},{"address":"13921127593811670351L","balance":89800000000},{"address":"14636091225572299068L","balance":89800000000},{"address":"16075773430694729476L","balance":89800000000},{"address":"2465376505472839010L","balance":89800000000},{"address":"8797390455410370280L","balance":89800000000},{"address":"10589996627203409984L","balance":89900000000},{"address":"13006468928470284770L","balance":89900000000},{"address":"14080308827940367132L","balance":89900000000},{"address":"12248536304420527538L","balance":99800000000},{"address":"14624302329273634583L","balance":99900000000},{"address":"15806643322935220312L","balance":179500000000},{"address":"930710356977214870L","balance":477570000000},{"address":"40565469756652219L","balance":1048000000000},{"address":"13929185126330236760L","balance":1076470000000},{"address":"12771083228258353736L","balance":10074300000000},{"address":"2686619600065520376L","balance":9599849950000000}]}

If an exchange is abusing his power, people can see it and act. In this case they can withdraw the LISK from this exchange (decreasing the voting power of the exchange) and voting with the withdrawn LISK for other delegates (increasing the difference to the exchange even further).


Also, it's not a 51% attack. It is a 100% attack by a minority holder. A minority holder can control 100% of the security mechanism. That can't be said of Bitcoin or any PoS system.

A "51% attack" is just the laymen term. It's in fact a ">50% attack" and every ">50% attack" automatically is a "100% attack" as well, at least practically. If you own the majority of a system, the system is yours.

You are again wrong that this can't be said about other systems.

- At Bitcoin someone who owns 0 BTC can have the most mining power and control the whole system. (It's possible, but unlikely)
- At Nxt someone who owns 0 NXT, but received over 20% of all NXT as leased NXT can control the whole system. (Extremely unlikely)

- However, at Lisk someone with 0 LISK will have it EXTREMELY difficult to find the trust of the community to get enough votes for 51 delegates. That means he needs more votes (LISK amount*10^8) than the 51th delegate received in total from the whole network.  

This is the networks responsibility to vote accordingly and get the best security out of the DPoS system.


I'll accept that this is a reasonable system if a balance vote is split among the 101 delegates. For example if a wallet has 101 LISK and votes for 101 delegates, each would get 1 LISK worth of vote.

This won't work. Everyone would only vote for himself and everyone who owns more than 1% LISK could run at least 1 delegate forever. This is unfair, because nobody else could prevent him from doing so.



How we get more people voting:

We will introduce a "Forging Pool" in the future (as a dapp). Delegates can run them on their nodes and register their delegate account on the sidechain. With this pool the delegates can then distribute a part of their earnings to the voters automatically every X days.

This will create an incentive for users to withdraw funds from the exchanges and vote for trusted individuals. In order to confirm trusted individuals, we will introduce an "Identity Dapp" in the future, in which people can associate their account with an username, real name, social media profiles, photo, and much more.

More information about all this will follow before we launch.

Lisk.io - Blockchain Application Platform
sxafir
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March 13, 2016, 01:45:30 PM
 #2897

Take the rich and give to the poor.
redcastle
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March 13, 2016, 01:55:29 PM
 #2898

Are we sure that dev can't run away with ico money? Tongue
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March 13, 2016, 01:55:43 PM
 #2899

Take the rich and give to the poor.
Where are the richs ?
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Things are called shit for a reason, dear.


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March 13, 2016, 02:29:28 PM
 #2900

My question has not been answered yet. Isn't anybody here who can answer it?

I would like to join the signature campaign. Is it only available for Full Member and above because I do not see code for Member and Junior Member?

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