[ANN][XEL] Elastic Project - The Decentralized Supercomputer

[Selsonblue]

I didnt want to quote the image EK posted. BUT that is awesome, the redeem funcitonality built into the app. Fucking next gen shit EK. Good work.

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[Riseman]

a Decentralized Supercomputer with mining?? How does that work?

It's not really a miner and there's talk of re-naming it to a 'Elastic Processing Unit' (EPU), as it allows the data needing to be crunched by the 'miners' to produce the necessary output for the person or organisation needing their data to be processed.

hm, Elastic Processing Unit' (EPU) is good. it can be.

I'd like to suggest "Elastic Processing Network" because it's not a single unit. It is, you know... a network

[clivemy]

a Decentralized Supercomputer with mining?? How does that work?

It's not really a miner and there's talk of re-naming it to a 'Elastic Processing Unit' (EPU), as it allows the data needing to be crunched by the 'miners' to produce the necessary output for the person or organisation needing their data to be processed.

hm, Elastic Processing Unit' (EPU) is good. it can be.

I'd like to suggest "Elastic Processing Network" because it's not a single unit. It is, you know... a network

The 'miner' is not a network (although it links you to the network), it's a tool that there's talk or renaming to 'Elastic Processing Unit' (EPU) so there's not the confusion around it that currently exists, because of what the term 'miner' normally means..

[ImI]

The term "miner" brings up the question about inflation. Cause usually where is a miner there is inflation in crypto. But XEL uses POS as underlying tech so we have no inflation.

[Riseman]

a Decentralized Supercomputer with mining?? How does that work?

It's not really a miner and there's talk of re-naming it to a 'Elastic Processing Unit' (EPU), as it allows the data needing to be crunched by the 'miners' to produce the necessary output for the person or organisation needing their data to be processed.

hm, Elastic Processing Unit' (EPU) is good. it can be.

I'd like to suggest "Elastic Processing Network" because it's not a single unit. It is, you know... a network

The 'miner' is not a network (although it links you to the network), it's a tool that there's talk or renaming to 'Elastic Processing Unit' (EPU) so there's not the confusion around it that currently exists, because of what the term 'miner' normally means..

I thought it was about renaming the whole project. My bad.

[logictense]

how do i buy XEL?

You can't. The mainnet hasn't launched yet.

Thank you. What is the idea of a decentralized computer? I do not understand.

It is decentralized supercomputer , you can read more info about supercomputers here https://en.wikipedia.org/wiki/Supercomputer

Thank's bro!

Pathetic lies. Those made-up computers exist as a sandbox for testing out features that are gonna be implemented in eth. Keep preparing the ground for buthereums liftoff.

[clivemy]

Also; is it an idea to get an business/sales/marketing/manager all in one guy on board who will:

-Creates awareness of XEL
-Builds relationships
-Attracts big investors
-Manages the business aspect of XEL
-Approach company's who want to work with the XEL technology
-Takes care for the marketing, approaching PR company's, manages social media
-Blog writing

I think its very important to have someone who can do all above tasks.

Each crypto project should be approached as an business and needs someone who takes care of the business aspects.

I think we should make a fund for hiring / paying such a pr guy and ensure further dev of XEL. i would provide 10% of my XEL

I'd give 10% too. It's not 100k but much less.  

Maybe there could be a claiming process at launch, with an integrated process to give a specific percentage to a fund for the devs and a "Foundation".

very good idea!

We're in a bit of a catch 22 position at the moment, since in order to get PR, the Website and Press Releases up and going, we need information and the people with the detailed information about the Elastic Project are busy doing the development work, so don't have the time to provide the information necessary to get a PR campaign going.

[Bagwell]

Hello,

I am invest in Elastic Project. What will be (or is) the procedure to get XEL . Just have to wait for XEL release? We got XEL to BTC address? I would ask for procedures.

Maybe it's anybody ever asked, but I spotted anywhere.
Many thanks!

I'm sure there will be Instructions when the Mainnet is released.

I thought that was where already published... Many thanks.

you will need the privat key of the btc wallet you sent your btc from

Yes I know, because it was ICO rules I was just wondering what is the next step. If there was any news. Many thanks for info to everyone!

As soon as the mainnet is ready you will most likely generate a XEL address and sign a BTC message with that XEL address. Then your amount of XEL will be sent to that XEL address.

Thnaks a lot!

[Bagwell]

I was just wondering what is the next step. If there was any news. Many thanks for info to everyone!

Redeeming is as easy as this:

Thanks a lot !

[entertainment]

Should I redeem now or I can wait to the mainnet?

[Evil-Knievel]

Should I redeem now or I can wait to the mainnet?

Redeeming now makes no sense other than for testing.

[HmmMAA]

Should I redeem now or I can wait to the mainnet?

You can't redeem at the moment , we are still on testnet . EK said that probably he will be finished with most of his tasks by the end of this month . After that , probably , mainnet will be launched .

[ghoom2]

SONM - Supercomputer Organized by Network Mining (GRIB technology)
https://bitcointalk.org/index.php?topic=1763166.0

see page 19 https://github.com/sonmio/sonmproject/blob/master/Sonm-wp.pdf

[ImI]

SONM - Supercomputer Organized by Network Mining (GRIB technology)
https://bitcointalk.org/index.php?topic=1763166.0

see page 19 https://github.com/sonmio/sonmproject/blob/master/Sonm-wp.pdf

Jepp, decentralized-supercomputing is one of the big topics at the moment.

[tomkat]

SONM - Supercomputer Organized by Network Mining (GRIB technology)
https://bitcointalk.org/index.php?topic=1763166.0

see page 19 https://github.com/sonmio/sonmproject/blob/master/Sonm-wp.pdf

So, they expect (or rather hope) to get to the market faster than XEL?
Well, either they're almost ready with their product, or they have no clue what's going on here.
I think the latter, since they probably checked elastic-project.com website only, and not this thread.

[clivemy]

SONM - Supercomputer Organized by Network Mining (GRIB technology)
https://bitcointalk.org/index.php?topic=1763166.0

see page 19 https://github.com/sonmio/sonmproject/blob/master/Sonm-wp.pdf

So, they expect (or rather hope) to get to the market faster than XEL?
Well, either they're almost ready with their product, or they have no clue what's going on here.
I think the latter, since they probably checked elastic-project.com website only, and not this thread.

I went over there and mentioned this forum.  Maybe they'll join in.

[coralreefer]

SONM - Supercomputer Organized by Network Mining (GRIB technology)
https://bitcointalk.org/index.php?topic=1763166.0

see page 19 https://github.com/sonmio/sonmproject/blob/master/Sonm-wp.pdf

Although I agree with his assessment of the memory contraint in XEL making it useful to only limited use cases, I really don't understand the concept of integrating BOINC into a coin.  First, we already have GridCoin doing a pretty good job of that...but if you look at BOINC as a whole, I don't see any need a cryptocoin to draw people in...look at how much interest BOINC already has.  Also, I've never liked the idea of POW for any of these science coins...I don't think it helps, but it does complicate things.  I personally would have preferred if XEL got rid of it.

I always figured the market for XEL was for research on problems that aren't necessarily large / glamorous....maybe just some simple research a scientist needs extra computing power for, and is willing to pay a small bounty for miners who solve the problem...but I do agree XEL servers need to suppor larger memory usage...just not sure if it's possible in this current design.

[trader19]

in the meantime golem hype is growing, feels like they are stealing our show  makes me mad

https://www.reddit.com/r/GolemProject/comments/5cf70j/lets_request_poloniex_support_here_to_get_it/

[Evil-Knievel]

Although I agree with his assessment of the memory contraint in XEL making it useful to only limited use cases, I really don't understand the concept of integrating BOINC into a coin.  First, we already have GridCoin doing a pretty good job of that...but if you look at BOINC as a whole, I don't see any need a cryptocoin to draw people in...look at how much interest BOINC already has.  Also, I've never liked the idea of POW for any of these science coins...I don't think it helps, but it does complicate things.  I personally would have preferred if XEL got rid of it.

I always figured the market for XEL was for research on problems that aren't necessarily large / glamorous....maybe just some simple research a scientist needs extra computing power for, and is willing to pay a small bounty for miners who solve the problem...but I do agree XEL servers need to suppor larger memory usage...just not sure if it's possible in this current design.

Well, the thing is that the current system is absolutely trustless. That means that we have no "central authority" verifying anything (such as all BOINC based coins do, since they rely on an external service controlled by a single entity which anytime can turn blackhat and cripple the entire coin) so we have to make sure every node in the network verifies work by himself. Others, very well hyped project deal with it in their very own way: they just drop all that shit and assume everyone trusts everyone ... problem solved ... NOT!
Anyway, in this context we have several issues:

a) Every node must be able to verify the work, the more memory we allow, the "higher" the "required minimal hardware specifications" become.
b) Verification of work must be performed quick. Imagine the verification (one iteration of a work algorithm) takes 10 seconds and the network is so mature that we get 100 POW packages in every second: this would result in a very large back log and eventually stall the network.

What we talked about recently in private was to out-source verification to a subset of nodes, so-called supernodes which have a very potent hardware and which just sign off POW packages and bounties. I thought it might be possible to use such scheme:

- Work may use up to 5 GIG of memory
- Work may take up to 10 seconds to verify
- Verification is only performed by supernodes
- Supernodes deposit an amount of 300,000 XEL and earn x% of all work they confirm
- If a supernode behaves maliciously (when it can be proven that a result was accepted while it's bad) the 300,000 XEL are gone
- Supernodes must be permanently online and have very decent hardware
- If supernodes decide to stop, they have to wait for 1000 blocks without verifying anything to unlock the 300,000 XEL deposit.
- Problem: Malicious billionaire supernodes that do not care about money, and the danger of ending up with no supernodes at all.

This is a change I can make in one weekend, it's just the question if we want it or if we can come up with something better?

[coralreefer]

Although I agree with his assessment of the memory contraint in XEL making it useful to only limited use cases, I really don't understand the concept of integrating BOINC into a coin.  First, we already have GridCoin doing a pretty good job of that...but if you look at BOINC as a whole, I don't see any need a cryptocoin to draw people in...look at how much interest BOINC already has.  Also, I've never liked the idea of POW for any of these science coins...I don't think it helps, but it does complicate things.  I personally would have preferred if XEL got rid of it.

I always figured the market for XEL was for research on problems that aren't necessarily large / glamorous....maybe just some simple research a scientist needs extra computing power for, and is willing to pay a small bounty for miners who solve the problem...but I do agree XEL servers need to suppor larger memory usage...just not sure if it's possible in this current design.

Well, the thing is that the current system is absolutely trustless. That means that we have no "central authority" verifying anything (such as all BOINC based coins do, since they rely on an external service controlled by a single entity which anytime can turn blackhat and cripple the entire coin) so we have to make sure every node in the network verifies work by himself. Others, very well hyped project deal with it in their very own way: they just drop all that shit and assume everyone trusts everyone ... problem solved ... NOT!
Anyway, in this context we have several issues:

a) Every node must be able to verify the work, the more memory we allow, the "higher" the "required minimal hardware specifications" become.
b) Verification of work must be performed quick. Imagine the verification (one iteration of a work algorithm) takes 10 seconds and the network is so mature that we get 100 POW packages in every second: this would result in a very large back log and eventually stall the network.

What we talked about recently in private was to out-source verification to a subset of nodes, so-called supernodes which have a very potent hardware and which just sign off POW packages and bounties. I thought it might be possible to use such scheme:

- Work may use up to 5 GIG of memory
- Work may take up to 10 seconds to verify
- Verification is only performed by supernodes
- Supernodes deposit an amount of 300,000 XEL and earn x% of all work they confirm
- If a supernode behaves maliciously (when it can be proven that a result was accepted while it's bad) the 300,000 XEL are gone
- Supernodes must be permanently online and have very decent hardware
- If supernodes decide to stop, they have to wait for 1000 blocks without verifying anything to unlock the 300,000 XEL deposit.
- Problem: Malicious billionaire supernodes that do not care about money, and the danger of ending up with no supernodes at all.

This is a change I can make in one weekend, it's just the question if we want it or if we can come up with something better?

EK, can you please clarify if this proposal is just for the validation of ElasticPL submissions / solutions.  The blockchain would still be secured by POS, right?