[ANN][COS] COSMOS, internet of blockchains

[Flomess]

Interesting project, keeping an eye on this

[cowboys]

is this the cosmos mentioned in the par.io paper? 

[jaekwon]

is this the cosmos mentioned in the par.io paper? 

Yes

[Bannedseller]

is this the cosmos mentioned in the par.io paper? 

Yes

I just read few pages from their whitepaper. PAR already invested in Tendermint.

[lestherat]

Looks like decentralized wallets are the hype for the last months.

Your ann need to be more attractive.

You must show your face and the face of your team if exist, man, you want a crowfund of 9 million dollars. Please show who are you.

We are tired of anonymous developers.

Watching this.

[cryptospreader]

Good luck first of all for your venture. I wish to see one another successful crowfunded project from this thread. Keep going. Don't give up.

[Cryptorials]

Looks really interesting.

I had to read the crowdsale info page a couple of times to understand it though and just to make sure I'm clear now:

 A 'bonded atom holder' is just someone who has voted for a validator, or is a validator, and therefore gets rewards? And getting 'unbonded' just means you don't get those rewards anymore? There is no definition of these terms so its very confusing.

Also there is a section which says: "One third of the total number of atoms will be distributed back to the bonded atom holders for having a stake in consensus. This is a tax (disincentive) for not putting atoms at stake, and not participating in governance during the first two years after genesis. " I presume this actually means one-third of the block reward rather than one-third of the total number of atoms?

[Bannedseller]

Looks like decentralized wallets are the hype for the last months.

Your ann need to be more attractive.

You must show your face and the face of your team if exist, man, you want a crowfund of 9 million dollars. Please show who are you.

We are tired of anonymous developers.

Watching this.

You can have check their web Site
http://tendermint.com/about/
many presentations:
https://www.youtube.com/watch?v=EfFVh1DIKds
https://www.youtube.com/watch?v=lYX7VIVz578
https://www.youtube.com/watch?v=9krAQzN6tbc
and much more ...

[join2]

good
i will bookmarks this thread
 

[quehuaiknrzr602]

I think you should provide more imformation

[Sam123]

I think you should provide more imformation

Check http://tendermint.com/

[jaekwon]

Looks really interesting.

I had to read the crowdsale info page a couple of times to understand it though and just to make sure I'm clear now:

 A 'bonded atom holder' is just someone who has voted for a validator, or is a validator, and therefore gets rewards? And getting 'unbonded' just means you don't get those rewards anymore? There is no definition of these terms so its very confusing.

Also there is a section which says: "One third of the total number of atoms will be distributed back to the bonded atom holders for having a stake in consensus. This is a tax (disincentive) for not putting atoms at stake, and not participating in governance during the first two years after genesis. " I presume this actually means one-third of the block reward rather than one-third of the total number of atoms?

Thanks for your questions.  A bonded atom holder (or bonded stakeholder) is someone who put their atoms at stake by posting collateral with those atoms.  These atoms are said to be "held in bond".  Bonded atoms can't move unless they've become inactivated, and wait the "unbonding period".  Then they become unbonded and can be moved freely.  This is partially what solves the "nothing at stake" problem.  (Bonding is not a sufficient solution to the nothing at stake problem, the other solution is "fork-accountable" BFT consensus.)

A bonded atom holder earns inflationary rewards and tx fees, in proportion to how many atoms they have bonded (compared to the total number of other bonded atom).  Getting unbonded means waiting the "unbonding period", and yes, during the wait time and afterwards you are no longer earning rewards or tx fees.  In short, you're earning rewards and fees only if you put your tokens "at stake".

Block rewards and transaction fees *only* go to the bonded atom holders.  Besides the tx fees, there are inflationary atoms that are given to the bonded atom holders.  Every year, 1/3 of the total atom supply is inflated and given to the bonded atom holders.  As you can see, atoms are not a good store of value -- if you're not using them, putting them at stake by running a validator or delegating to other validators, you're paying the inflation tax.

Atoms aren't a good store of value, but other tokens on Cosmos may very well be.  If you just want to hodl, atoms aren't for you.  Otoh, if you want to have good op-sec and help secure the Cosmos zones, or if you think you know how to determine which validators are more likely to succeed/get-hacked, then atoms are for you.

Atoms are like virtualized proof-of-work miners.  There's no point holding them if you're not going to use them.

[killerjoegreece]

This project looks really nice. One question for you dev. Will there be any translation bounties?

We will pay for good translations.  If you want to apply, first try translating the introduction of this whitepaper.

https://github.com/cosmos/cosmos/blob/6a15f001eac3cbceb0765b5b03b28a998acdc41a/WHITEPAPER.md

Don't post it here, just email it to us at translations@cosmos.network with subject "Whitepaper intro translation in YOUR_LANGUAGE".

Cheers =J

done but have received no answer. waiting on answer


EDIT: i got answer on email. the guys are looking into it and are validating my work

[jaekwon]

Looks like decentralized wallets are the hype for the last months.

We're not about decentralized wallets What makes you say that?

[pugilist555]

Introduction for Hindi (indian) translation has been emailed.

Also, The crowdfund will be uncapped for the first 24 hours, but then capped at $9M equivalent of bitcoins after the first 24 hours. After 24 hours since the beginning of the crowdfund, when the total amount raised exceeds $9M given the price of bitcoin at 9am PDT the morning of, or after 42 days, whichever comes first, the crowdfund will immediately stop.

So the Cap amount is $9m + First 24 Hours funds collected? What is the bonus for investing in the initial 24 hours?

[jaekwon]

Also, The crowdfund will be uncapped for the first 24 hours, but then capped at $9M equivalent of bitcoins after the first 24 hours. After 24 hours since the beginning of the crowdfund, when the total amount raised exceeds $9M given the price of bitcoin at 9am PDT the morning of, or after 42 days, whichever comes first, the crowdfund will immediately stop.

So the Cap amount is $9m + First 24 Hours funds collected? What is the bonus for investing in the initial 24 hours?

The only way to make sure you get in is by bidding in the initial 24 hours.

BTW, here's an announcement related to the crowdfund.

Announcement

We are currently considering an alternative private funding plan where we start funding with non-US/accredited investors.
If you qualify and are interested in bidding over $50K, please PM me or email us, prefund@cosmos.network.
Alternatively, if you have good-standing public reputation and have excellent op-sec and sys-admin skills, and are interested in running Cosmos hub validators, please PM me.
The ideal candidate meets both requirements, and is a legal entity.

[Sam123]

Also, The crowdfund will be uncapped for the first 24 hours, but then capped at $9M equivalent of bitcoins after the first 24 hours. After 24 hours since the beginning of the crowdfund, when the total amount raised exceeds $9M given the price of bitcoin at 9am PDT the morning of, or after 42 days, whichever comes first, the crowdfund will immediately stop.

So the Cap amount is $9m + First 24 Hours funds collected? What is the bonus for investing in the initial 24 hours?

The only way to make sure you get in is by bidding in the initial 24 hours.

BTW, here's an announcement related to the crowdfund.

Announcement

We are currently considering an alternative private funding plan where we start funding with non-US/accredited investors.
If you qualify and are interested in bidding over $50K, please PM me or email us, prefund@cosmos.network.
Alternatively, if you have good-standing public reputation and have excellent op-sec and sys-admin skills, and are interested in running Cosmos hub validators, please PM me.
The ideal candidate meets both requirements, and is a legal entity.

Then there will be no ICO? or this is an addition to the ICO?

[FruitBucket]

Tendermint sounds quite similiar to Etherum's Casper https://blog.ethereum.org/2015/08/01/introducing-casper-friendly-ghost/

[Kray]

It looks like interesting project with good prospect but i don't know if is it achievable

[jaekwon]

It looks like interesting project with good prospect but i don't know if is it achievable

It's certainly achievable.  I have a background in programming, so for us, the software isn't the hard part.  Getting the message out is the hardest part.  We need enthusiasts who believe in the formal approach to spread the message.

Slack is our biggest active community.  http://forum.tendermint.com:3000/

Cheers -J