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Author Topic: Obyte: Totally new consensus algorithm + private untraceable payments  (Read 1227335 times)
Pinstripe
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January 17, 2018, 09:03:03 AM
 #16741


Wow, a really good read. Thanks for sharing and thanks for what you did.
I also appreciate what you said about "stepping into a slow and frustrating direction".
I know it's been frustrating for everyone, but I believe things can and are changing for the better.
Make sure you back up your wallet regularly! Unlike a bank account, nobody can help you if you lose access to your BTC.
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Pinstripe
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January 17, 2018, 09:07:31 AM
 #16742

You are getting very close to the original concept. At some point "White snowball" rolling downhill and constantly growing was a guiding image.

That's really nice to know  Grin, me being a newbie and all.

Thanks for sharing.
djpitagora
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January 17, 2018, 11:22:36 AM
 #16743

What's the typical size of a transaction (since the fee is equal to the size in bytes, right?)? I'm curious what kind of costs are incurred for typical single output tx.

Also, I assume it's possible to generate extremely large txs by creating many outputs, or many txs with one output. Does this mean that the cost to spam the network with 1 GB of data is currently ~$1k? Would validator nodes simply reject a 1 GB tx? Spammers could be banned by validator?

well they would have to pay 1 GB fee for a 1 GB size tx, so it's unlikely to see that kind of spam. Unlike IOTA and XRB that have literally no defense against spammers. A small fee is better then no fee.

Ye verily, but I'm just curious about typical tx size, as well as validation of extremely large or extremely repetitive small txs.

Consider this, iota was an ico that raised (supposedly) 1337 BTC. If byteball started to get traction, and assuming that iota still had this BTC and claimed it in initial and subsequent airdrops, would these gbytes be more valuable to them to sell on the market (probably enough to crash it several times over) or to attach their competitor with TBs of spam.

I just am wondering how an attack like this would be handled by the network and validators, since, especially at this point the network is quite centralized.

the last transaction I did had around 800 bytes in size, so 800 bytes fee.
SaintFlow
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January 17, 2018, 12:05:13 PM
 #16744

http://www.ibtimes.co.uk/jumio-offers-kyc-ico-space-byteball-1655538

Tony Churyumoff, Founder, Byteball, added: "By partnering with Jumio, we bring identity to the distributed ledger, both for ICOs and other financial transactions, creating strong connections between the crypto and the real world. For end users, we offer them a sovereign identity that is totally private, secure, and incredibly easy to use. For businesses, it is an opportunity to build applications that leverage the identity layer that was not possible before."

don't let me make you question your assumptions
ByteFan
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January 17, 2018, 01:49:58 PM
 #16745

http://www.ibtimes.co.uk/jumio-offers-kyc-ico-space-byteball-1655538

Tony Churyumoff, Founder, Byteball, added: "By partnering with Jumio, we bring identity to the distributed ledger, both for ICOs and other financial transactions, creating strong connections between the crypto and the real world. For end users, we offer them a sovereign identity that is totally private, secure, and incredibly easy to use. For businesses, it is an opportunity to build applications that leverage the identity layer that was not possible before."

This is really great! Jumio provides KYC (online ID check) tool used buy Coinbase.


https://www.jumio.com/use-cases/#kyc-aml
Jedgar
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January 17, 2018, 01:56:24 PM
 #16746

Transition Bot does not answer, what's the matter?

He is just  switched off. Check his state from time to time. He is normally  alive before distribution.
denam
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January 17, 2018, 02:02:37 PM
 #16747

Really appreciate your efforts for sharing that piece of writing above few posts. I think sooner or later people will realize to that long termed base projects like Byteball are best way to make some small profit from there which is more reliable and stable way. It is taking time but we are heading towards more clear future.
proride
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January 17, 2018, 02:08:24 PM
 #16748

Transition Bot does not answer, what's the matter?

He is just  switched off. Check his state from time to time. He is normally  alive before distribution.

Sorry, but what the main reaso of swtcing it of? Was there any announce frome dev?

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SaintFlow
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January 17, 2018, 02:24:48 PM
 #16749

Transition Bot does not answer, what's the matter?

He is just  switched off. Check his state from time to time. He is normally  alive before distribution.

Sorry, but what the main reaso of swtcing it of? Was there any announce frome dev?

Imagine hunderts of users siging up via microtransactions +BTC transaction fees.

Then comes announcement: No airdrop because we decide to distribute via Textcoin +  to people who use Byteball to purchase products with registered cash-back merchants. Grow the userbase, not holderbase....

On a scale of 1-10 how angry would you be? "But you kept the bot online!"

don't let me make you question your assumptions
maco144
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January 17, 2018, 04:51:53 PM
 #16750

http://www.ibtimes.co.uk/jumio-offers-kyc-ico-space-byteball-1655538

Tony Churyumoff, Founder, Byteball, added: "By partnering with Jumio, we bring identity to the distributed ledger, both for ICOs and other financial transactions, creating strong connections between the crypto and the real world. For end users, we offer them a sovereign identity that is totally private, secure, and incredibly easy to use. For businesses, it is an opportunity to build applications that leverage the identity layer that was not possible before."

Wow this is incredible, byteball is so cool!
Hhugh
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January 17, 2018, 04:53:33 PM
 #16751

http://www.ibtimes.co.uk/jumio-offers-kyc-ico-space-byteball-1655538

Tony Churyumoff, Founder, Byteball, added: "By partnering with Jumio, we bring identity to the distributed ledger, both for ICOs and other financial transactions, creating strong connections between the crypto and the real world. For end users, we offer them a sovereign identity that is totally private, secure, and incredibly easy to use. For businesses, it is an opportunity to build applications that leverage the identity layer that was not possible before."

This is really great! Jumio provides KYC (online ID check) tool used buy Coinbase.


https://www.jumio.com/use-cases/#kyc-aml


https://www.jumio.com/about/press-releases/byteball-ico-identity-layer/
IckyYak22871
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January 17, 2018, 05:55:50 PM
 #16752


Quote
The Jumio-verified identity will be stored securely in the user’s Byteball wallet, while a “hash” – or an encrypted shorthand form of the personal data, will be posted to Byteball’s Directed Acyclic Graph (DAG) as a proof of identity verification. When a user needs to provide their personal data to access a service, including an ICO, they can pull their data out of their Byteball wallet in just a few clicks.

Finally, a working digital id solution. People are talking about it since several years ago. What took it so long to implement?

Really cool stuff.
LoyceV
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January 17, 2018, 06:13:04 PM
 #16753

Tony Churyumoff, Founder, Byteball, added: "By partnering with Jumio, we bring identity to the distributed ledger, both for ICOs and other financial transactions, creating strong connections between the crypto and the real world.
I assume this can be used to airdrop coins on unique individuals, right?
But I doubt many people will be willing to share their private information for some Bytes.

ByteFan
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January 17, 2018, 06:15:52 PM
 #16754

http://www.ibtimes.co.uk/jumio-offers-kyc-ico-space-byteball-1655538

Tony Churyumoff, Founder, Byteball, added: "By partnering with Jumio, we bring identity to the distributed ledger, both for ICOs and other financial transactions, creating strong connections between the crypto and the real world. For end users, we offer them a sovereign identity that is totally private, secure, and incredibly easy to use. For businesses, it is an opportunity to build applications that leverage the identity layer that was not possible before."

This is really great! Jumio provides KYC (online ID check) tool used buy Coinbase.


https://www.jumio.com/use-cases/#kyc-aml


https://www.jumio.com/about/press-releases/byteball-ico-identity-layer/

This can be really hudge. Congrat @Tonych!
IckyYak22871
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January 17, 2018, 07:44:06 PM
 #16755

Tony Churyumoff, Founder, Byteball, added: "By partnering with Jumio, we bring identity to the distributed ledger, both for ICOs and other financial transactions, creating strong connections between the crypto and the real world.
I assume this can be used to airdrop coins on unique individuals, right?
But I doubt many people will be willing to share their private information for some Bytes.

You don't need to share your private information. Your ID is stored in your wallet, and you disclose it only when you really need. Hash of ID is stored in DAG, and this proves that you have a valid ID.
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January 17, 2018, 08:46:36 PM
 #16756

Quote

Not sure if people realize the gravity of this announcement. This is really huge and a game changer!!

Imagine if people could get verified on Byteball platform (with the verified ID hash stored on DAG) and have control to choose to post your verified identity publicly or privately. What do you think will be the preferred ICO platform for all the new ICOs?

Putting all the pieces together -

# No KYC/AML or regulatory hassles since the participating user's identity can be established and verified,
# Flexibility of accepting ETC, BTC and GB via the ICO-bot,
# No network congestion like the one seen in Ethereum's network during major ICOs (one word - DAG)
# Not just new crypto ICOs, just imagine if Financial Institutions want to issue tokens and comply with KYC/AML regulations, who do you think they would turn to?

# What's the incentive for a user to register on Byteball platform you ask?
         - If they verify their identity once, they can participate in any future ICOs without worrying about the email-registrations, ETH/BTC address white-listing, KYC pre-checks etc. It would just be a simple one-click participation.
         - Still not enough of an incentive you say? Think cashback from the undistributed pool for registering your identity on the platform Wink

As I said before, this is huge and we will see this happen in the coming weeks! Buy as many GB as you can before Tony announces this! Byteball is gonna blow up once people realize how awesome it is, with all of this!
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January 17, 2018, 10:20:59 PM
 #16757

Quote

Not sure if people realize the gravity of this announcement. This is really huge and a game changer!!

Imagine if people could get verified on Byteball platform (with the verified ID hash stored on DAG) and have control to choose to post your verified identity publicly or privately. What do you think will be the preferred ICO platform for all the new ICOs?

Putting all the pieces together -

# No KYC/AML or regulatory hassles since the participating user's identity can be established and verified,
# Flexibility of accepting ETC, BTC and GB via the ICO-bot,
# No network congestion like the one seen in Ethereum's network during major ICOs (one word - DAG)
# Not just new crypto ICOs, just imagine if Financial Institutions want to issue tokens and comply with KYC/AML regulations, who do you think they would turn to?

# What's the incentive for a user to register on Byteball platform you ask?
         - If they verify their identity once, they can participate in any future ICOs without worrying about the email-registrations, ETH/BTC address white-listing, KYC pre-checks etc. It would just be a simple one-click participation.
         - Still not enough of an incentive you say? Think cashback from the undistributed pool for registering your identity on the platform Wink

As I said before, this is huge and we will see this happen in the coming weeks! Buy as many GB as you can before Tony announces this! Byteball is gonna blow up once people realize how awesome it is, with all of this!

This IS HUGE!

Another massive piece falls into place - outstanding.

"ByteBall" - Simply the best P2P Digital Asset Value Transfer & Storage Platform for the Age of the Distributed Ledger.
Malek17
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January 17, 2018, 11:23:39 PM
Last edit: January 17, 2018, 11:48:15 PM by Malek17
 #16758

Quote

Not sure if people realize the gravity of this announcement. This is really huge and a game changer!!

Imagine if people could get verified on Byteball platform (with the verified ID hash stored on DAG) and have control to choose to post your verified identity publicly or privately. What do you think will be the preferred ICO platform for all the new ICOs?

Putting all the pieces together -

# No KYC/AML or regulatory hassles since the participating user's identity can be established and verified,
# Flexibility of accepting ETC, BTC and GB via the ICO-bot,
# No network congestion like the one seen in Ethereum's network during major ICOs (one word - DAG)
# Not just new crypto ICOs, just imagine if Financial Institutions want to issue tokens and comply with KYC/AML regulations, who do you think they would turn to?

# What's the incentive for a user to register on Byteball platform you ask?
         - If they verify their identity once, they can participate in any future ICOs without worrying about the email-registrations, ETH/BTC address white-listing, KYC pre-checks etc. It would just be a simple one-click participation.
         - Still not enough of an incentive you say? Think cashback from the undistributed pool for registering your identity on the platform Wink

As I said before, this is huge and we will see this happen in the coming weeks! Buy as many GB as you can before Tony announces this! Byteball is gonna blow up once people realize how awesome it is, with all of this!
Personally i value anonymity same as Satoshi,surely wouldn't  participate in any airdrop that require selfies and Passport scans
thrax
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January 17, 2018, 11:33:11 PM
 #16759

Quote

Not sure if people realize the gravity of this announcement. This is really huge and a game changer!!

Imagine if people could get verified on Byteball platform (with the verified ID hash stored on DAG) and have control to choose to post your verified identity publicly or privately. What do you think will be the preferred ICO platform for all the new ICOs?

Putting all the pieces together -

# No KYC/AML or regulatory hassles since the participating user's identity can be established and verified,
# Flexibility of accepting ETC, BTC and GB via the ICO-bot,
# No network congestion like the one seen in Ethereum's network during major ICOs (one word - DAG)
# Not just new crypto ICOs, just imagine if Financial Institutions want to issue tokens and comply with KYC/AML regulations, who do you think they would turn to?

# What's the incentive for a user to register on Byteball platform you ask?
         - If they verify their identity once, they can participate in any future ICOs without worrying about the email-registrations, ETH/BTC address white-listing, KYC pre-checks etc. It would just be a simple one-click participation.
         - Still not enough of an incentive you say? Think cashback from the undistributed pool for registering your identity on the platform Wink

As I said before, this is huge and we will see this happen in the coming weeks! Buy as many GB as you can before Tony announces this! Byteball is gonna blow up once people realize how awesome it is, with all of this!

This IS HUGE!

Another massive piece falls into place - outstanding.

"ByteBall" - Simply the best P2P Digital Asset Value Transfer & Storage Platform for the Age of the Distributed Ledger.


That jumio page says the new system is launching on the Byteball platform today. Can anyone see it integrated in the wallet yet?

I can't get access to my wallet until tomorrow.

Quote
The new Jumio-enabled identity verification feature will be launched on the Byteball platform on 17th January 2017.
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January 18, 2018, 12:05:02 AM
 #16760

That's really huge. Great news!!! Tonych surprises us again and again!

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