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Author Topic: [ANN][XEL] Elastic Project - The Decentralized Supercomputer  (Read 447564 times)
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Evil-Knievel
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June 03, 2016, 09:08:05 PM
 #821

Will the BTC halving affect the time between blocks?

sorry to repeat myself but will the BTC halving affect the time between the blocks? I really have no clue.

You mean the time between the Bitcoin blocks? Hard to tell, in my opinion it might have an effect for a short time. If mining is not that lucrative anymore, many miners will stop mining. This will at first cause that the time between blocks increases, because a lesser amount of total hash power has to work on the same high target value. Luckily, the target value is adjusted every xxx blocks, so I think that if such effect kicks in, it will be leveled out pretty quickly.
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xxxgoodgirls
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June 03, 2016, 09:15:19 PM
 #822

Will the BTC halving affect the time between blocks?

sorry to repeat myself but will the BTC halving affect the time between the blocks? I really have no clue.

You mean the time between the Bitcoin blocks? Hard to tell, in my opinion it might have an effect for a short time. If mining is not that lucrative anymore, many miners will stop mining. This will at first cause that the time between blocks increases, because a lesser amount of total hash power has to work on the same high target value. Luckily, the target value is adjusted every xxx blocks, so I think that if such effect kicks in, it will be leveled out pretty quickly.

Oh I see, thank you for the answer. Well then we will reach BTC 11258th block in around 76-80 days from today.

In summary, the Intel Management Engine and its applications are a backdoor with total access to and control over the rest of the PC. The ME is a threat to freedom, security, and privacy, and the libreboot project strongly recommends avoiding it entirely. Since recent versions of it can’t be removed, this means avoiding all recent generations of Intel hardware. details https://libreboot.org/faq.html#intelme --- https://tehnoetic.com/laptops --- https://store.vikings.net/x200-ryf-certfied
ImI
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June 03, 2016, 09:24:57 PM
 #823

Quote
no way can XEL compeat with Ethereum
... Just like apples cannot compete with oranges  Wink

yes, but there is indeed one project that builds upon ethereum that tries to achieve the same

a competitor if you want  Wink

What does the project called please?
Thanks

thats our competition, but there is obv room for several projects

http://daoi.st/proposals/golem
Evil-Knievel
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June 03, 2016, 09:30:23 PM
 #824

thats our competition, but there is obv room for several projects

http://daoi.st/proposals/golem

Are you serious? They even use the same examples that I described a few months earlier:
I quote: "Another possible application of Golem might for example be a large cryptocurrency mining pool"

 Grin But isn't that the best compliment that we can get? I mean, only the best get copied, huh?  Grin
ImI
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June 03, 2016, 09:38:18 PM
 #825


i guess  Wink
Evil-Knievel
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June 03, 2016, 09:43:09 PM
 #826


i guess  Wink

I more and more get the feeling, that Elastic was a pioneering idea! More and more projects discover the importance to serve this particular niche.
Found another "Supercomputer" that presumably used Elastic as its idol: http://zennet.sc (even the video and what is said in it is quite similar)
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June 03, 2016, 09:55:07 PM
 #827


it is obv a great idea and so far no one has accomplished it  Wink
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June 03, 2016, 10:33:51 PM
 #828

What is max coin limit?

294.12 BTC

DONATED BY 358 PEOPLE

41.00 %

OF ALL COINS DISTRIBUTED

11249 Blocks

TIME LEFT

                                                                               
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xxxgoodgirls
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June 03, 2016, 10:46:56 PM
 #829

What is max coin limit?

294.12 BTC

DONATED BY 358 PEOPLE

41.00 %

OF ALL COINS DISTRIBUTED

11249 Blocks

TIME LEFT

5M.

In summary, the Intel Management Engine and its applications are a backdoor with total access to and control over the rest of the PC. The ME is a threat to freedom, security, and privacy, and the libreboot project strongly recommends avoiding it entirely. Since recent versions of it can’t be removed, this means avoiding all recent generations of Intel hardware. details https://libreboot.org/faq.html#intelme --- https://tehnoetic.com/laptops --- https://store.vikings.net/x200-ryf-certfied
lulworm
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June 03, 2016, 10:47:08 PM
 #830

What is max coin limit?

294.12 BTC

DONATED BY 358 PEOPLE

41.00 %

OF ALL COINS DISTRIBUTED

11249 Blocks

TIME LEFT

No idea!  Huh
Good project though!
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June 04, 2016, 02:44:01 AM
 #831

Hi EK, can you please throw together a few high level steps to get the code in the github up and running.  I'm not all that familiar with the nxt java code and I see a few different programs out there, so I'm not sure which ones I need to run to recreate what you did in the video.

Keep up the great work!
nihilnegativum
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June 04, 2016, 05:34:07 AM
 #832


i guess  Wink

I more and more get the feeling, that Elastic was a pioneering idea! More and more projects discover the importance to serve this particular niche.
Found another "Supercomputer" that presumably used Elastic as its idol: http://zennet.sc (even the video and what is said in it is quite similar)
zennet was before elastic, it was abandoned for tauchains&agoras
Lannister
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June 04, 2016, 09:14:33 PM
 #833

Ugh! It happens every single day; someone gets up who likes to wander around the boards looking to cause trouble! Thank you for letting me know about the latest spammers. I have removed the offending posts and perma-banned the offenders.

I hope we can now continue engaging in creative and productive work instead of discussing my personal life.

No, I will not disclose my real name on the Internet. The very simple reason I’m anonymous is so that I can talk freely about a free web. One mistake people often make is having the faulty assumption that knowing my real name or my association with a respected person, group or organization might get them to trust me more. In fact, I have no authority here. Elastic Project is a loosely associated group of developers which constantly changes over time. If you prefer projects with a more centralized structure, then please move on. Specifically, I kindly ask you to refrain from any messages that try to convince me of the contrary. My time is too valuable to be wasted with the same discussion again and again.
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June 04, 2016, 10:22:40 PM
 #834

Sorry for the delays,

There is a lot to do at the moment, the conference that I am attending currently consumes a lot of time and all appointments seem to take place at once ... this week-

Anyway, I think I have done a lot of progress here - even though we are slightly behind the originally planned schedule (whoever planned it, i didn't). I am giving my best to keep up with it, but it would be nice to get some help by one or two more coders who are willing to put some serious time into it.
I am doing it for free (I will never actively ask Lannister for any continuous reward or a salary for my work), in my spare time but yet with full enthusiasm ... so please don't blame me Wink I donated myself and this is my "driver". I want to be able to one day use my XEL to get my research done quicker.

At the current stage we have a coin that has all the basic functions working and it has the protocol extentions working. That means, beyond all the basic stuff like sending coins and messaging other users, the elastic coin users can create new work, cancel it, refund, and so on. All is nicely integrated into the UI. What is still missing is that the actual "work" is done and verified for correctness. This will be the next step and this is developed in a separate github repository. I (or we, I still hope to get some more people working with me) will merge it into the core client once it works rock solid.

What we have now can be executed by anyone locally. If we had a bootstrap node, which we will soon have, we could also test it on the public test net. But before rolling out a demo that runs on a public server (in form of a hosted wallet, so the average joe can try it out without compiling anything) we will need a faucet. Maybe someone wants to do one? After we launch, this faucet might be cool to have anyways.

I have worked 14 hours now today, straight without any break, so I decided not to write much and do screenshots, but to record a small VLOG for those who are interested.

Please, excuse the video quality (and my cursing in between). I have bought an iPad pro and thought it would be a serious performer ... the video looks as if it was recorded with a potato though. I will make something better once I have more time, but the conference has higher priority atm.


I made the code (without the verifiable computation branch) public here. Forgive me, that I did not have the time yet to explain everything and make a detailed tutorial/howto:

https://github.com/OrdinaryDude/elastic-reference-client



Click to watch the ~1/2hour VLOG: (Attention: Recorded with a Potato!!)




Good video. Good idea.

MiningSev0
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June 05, 2016, 09:27:12 AM
 #835

What is max coin limit?

294.12 BTC

DONATED BY 358 PEOPLE

41.00 %

OF ALL COINS DISTRIBUTED

11249 Blocks

TIME LEFT

No idea!  Huh
Good project though!

Just read the Crowdsale/Donation Text.

Quote
[...]
 The Elastic Coins (XEL) giveaway ends when Bitcoin block 425920 has passed or a total of 5 million Elastic Coins (XEL) have been given away. Any of these 5 million coins that are not given away, are distributed proportionally to all donators depending on the size of their donation.
[...]
Smiley
Very happy to be part of this.
- Now i'm waiting for Block #425920

Evil-Knievel
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June 06, 2016, 09:28:55 AM
 #836

It's may be just a irrelevant detail, but in the POS scheme mining works in a way that your address generates a block, and this block has a certain point in time (in the future) where it can be broadcasted. If someone broadcasts a block earlier than bad for you, otherwise you get the block (and so the attached fees).

What I criticized when I used NXT back then was the transparency. I had a significant amount of NXT which just did not produce any blocks. Sure, could have had more or just were a bit luckier, but to be honest I was unsure if the system functions properly or if I have just bad luck. So I added a "forging indicator" here for elastic: it will show you when you can expect a new block.

Small detail but I think quite nice to have.



What might confuse though is that at the moment the indicator says "i find a block in 2 minutes". However, it just means I find a block in 2 minutes only if nobody else is quicker. If he is quicker I will "work on a next block" which will itself have a different time.

That means that the text might jump from "2 minutes" to "1 hour" back to "30 minutes" for each new block. I hope it won't confuse the average user. What do you guys think?
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June 06, 2016, 10:15:40 AM
 #837

I'd perhaps change the text to something more comprehensible for people who don't know the details of forging, like 'Chance to forge in 2 min.'' Potential block in 2 min.' or something like that. Will there also be a tab with block explorer and PoS/forging stats for wallet and network?
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June 06, 2016, 03:23:36 PM
 #838

I like simple solutions, so I'd suggest to show the time to next block only - that would give the user an indication that forging is working, and when is the next chance to win the block

"Time to next block: " + NN + " minutes"
coralreefer
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June 06, 2016, 04:42:13 PM
 #839

I'm kind of torn.  Forging is an ongoing process so maybe going with the recommendation to just state something about estimated time to next block with no reference to forging is best.  Even though I like to see estimates on my screen, not really sure there is any way to estimate when a wallet might be the lucky guy who actually gets the block so it might be best not to mislead users.
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June 06, 2016, 05:12:02 PM
 #840

Uhm I don't get it, what is supposed to be forged if XEL is going to have a fixed coin supply?

In summary, the Intel Management Engine and its applications are a backdoor with total access to and control over the rest of the PC. The ME is a threat to freedom, security, and privacy, and the libreboot project strongly recommends avoiding it entirely. Since recent versions of it can’t be removed, this means avoiding all recent generations of Intel hardware. details https://libreboot.org/faq.html#intelme --- https://tehnoetic.com/laptops --- https://store.vikings.net/x200-ryf-certfied
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