Obyte: Totally new consensus algorithm + private untraceable payments

[shinjikun]

I don't think its safe to store bitcoins in an address that you already made a payment with.
If you do that your real public key is revealed and then it is possible to find out your private key and spend the bitcoins you have in that address.

How is it possible to get someones private key from his public key?
The idea behinde public-key-encryption is that this it not possible

[tonych]

Version 1.2.0 is released https://github.com/byteball/byteball/releases.
It includes ability to partially recover from seed:



As was said before, the seed doesn't allow to recover blackbytes because they are not stored on the public database.
Recovery works only in full wallets because it scans the local copy of the database for addresses generated from the seed.

To restore your bytes (but not blackbytes) from seed, you will need to download the wallet, choose "Full wallet", wait that it syncs and then go to the Recovery menu in Settings.

Also, a number of small bugs fixed in this release.

[Limx Dev]

Version 1.2.0 is released https://github.com/byteball/byteball/releases.
It includes ability to partially recover from seed:



As was said before, the seed doesn't allow to recover blackbytes because they are not stored on the public database.
Recovery works only in full wallets because it scans the local copy of the database for addresses generated from the seed.

To restore your bytes (but not blackbytes) from seed, you will need to download the wallet, choose "Full wallet", wait that it syncs and then go to the Recovery menu in Settings.

Also, a number of small bugs fixed in this release.

Great job tonych. Is this update mandatory?

[tonych]

Great job tonych. Is this update mandatory?

It is not mandatory but highly recommended.

[SatoNatomato]

BB has a great market cap right now, almost $10M, the big milestone has been completed. Next target is to be listed on BITTREX, am I correct?

Why do you say market cap when you can just say price?

[coinzcoinzcoinz]

New to Byteball; couple of questions that I couldnt figure out myself:

1) what is the difference between bytes and blackbites? Why are there 2 tokens?
2) On Coinmarketcap it says available supply: 100,000 GByte. Why is it called Gbyte there and not bytes?
3) The total supply on Coinmarketcap (100,000), is that the eventual total supply (all coins that will ever exist), or is it the current total supply (10% of the eventual coin supply -- the coins that were released in the first distribution round)?

Thanks!

[kola-schaar]

Version 1.2.0 is released https://github.com/byteball/byteball/releases.
It includes ability to partially recover from seed:
...

THX Tony

thanks for 1.1.0 and a feature request:

I like to keep my cryptocoin data directories on an encrypted drive, so it would be nice if byteball was flexible in where it puts it's data directory.
A start paramater like bitcoin's -datadir=... would be just fine for a start.

Yeah thats nice but I guess you could always crate a symlink from ~/.config/byteball to where you want it to be, until the "feature-request" is fulfilled.

I would recommend this too.
If someone still wants to implement -datadir option, we accept pull requests in our github repo https://github.com/byteball/byteball.

You are always so incredibly fast in the development - crazy. 
I get scared of what you would do with a good developer team..

[SatoNatomato]

New to Byteball; couple of questions that I couldnt figure out myself:

1) what is the difference between bytes and blackbites? Why are there 2 tokens?
2) On Coinmarketcap it says available supply: 100,000 GByte. Why is it called Gbyte there and not bytes?
3) The total supply on Coinmarketcap (100,000), is that the eventual total supply (all coins that will ever exist), or is it the current total supply (10% of the eventual coin supply -- the coins that were released in the first distribution round)?

Thanks!

1) Bytes is the main currency of the Byteball network, is the currency fees are paid in. Blackbytes are a defined asset which can be used for private untraceable exchange of said currency, blackbytes only paying the network fee in bytes.

2) Gbyte because its easier to say and spell out than whole 100 000 000 000, like we use MegaBytes, KiloBytes etc, standard SI notation.

3) Dunno the first post says something about 10^15 total supply, 10% of that is distributed. 

[coinzcoinzcoinz]

New to Byteball; couple of questions that I couldnt figure out myself:

1) what is the difference between bytes and blackbites? Why are there 2 tokens?
2) On Coinmarketcap it says available supply: 100,000 GByte. Why is it called Gbyte there and not bytes?
3) The total supply on Coinmarketcap (100,000), is that the eventual total supply (all coins that will ever exist), or is it the current total supply (10% of the eventual coin supply -- the coins that were released in the first distribution round)?

Thanks!

1) Bytes is the main currency of the Byteball network, is the currency fees are paid in. Blackbytes are a defined asset which can be used for private untraceable exchange of said currency, blackbytes only paying the network fee in bytes.

2) Gbyte because its easier to say and spell out than whole 100 000 000 000, like we use MegaBytes, KiloBytes etc, standard SI notation.

3) Dunno the first post says something about 10^15 total supply, 10% of that is distributed.  

Thanks for the answers! Can someone clarify the current total supply (final total supply-90%) and the final supply (current total supply+90%)? 10^15 can't be right?! Thanks!

[crypt0hash]

New to Byteball; couple of questions that I couldnt figure out myself:

1) what is the difference between bytes and blackbites? Why are there 2 tokens?
2) On Coinmarketcap it says available supply: 100,000 GByte. Why is it called Gbyte there and not bytes?
3) The total supply on Coinmarketcap (100,000), is that the eventual total supply (all coins that will ever exist), or is it the current total supply (10% of the eventual coin supply -- the coins that were released in the first distribution round)?

Thanks!

1) Bytes is the main currency of the Byteball network, is the currency fees are paid in. Blackbytes are a defined asset which can be used for private untraceable exchange of said currency, blackbytes only paying the network fee in bytes.

2) Gbyte because its easier to say and spell out than whole 100 000 000 000, like we use MegaBytes, KiloBytes etc, standard SI notation.

3) Dunno the first post says something about 10^15 total supply, 10% of that is distributed.  

Thanks for the answers! Can someone clarify the current total supply (final total supply-90%) and the final supply (current total supply+90%)? 10^15 can't be right?! Thanks!

There are a total of 1000000 giga bytes. 100000 was distributed.

[starik69]

As was said before, the seed doesn't allow to recover blackbytes because they are not stored on the public database.
Recovery works only in full wallets because it scans the local copy of the database for addresses generated from the seed.

To restore your bytes (but not blackbytes) from seed, you will need to download the wallet, choose "Full wallet", wait that it syncs and then go to the Recovery menu in Settings.

Also, a number of small bugs fixed in this release.

Can something be done to store bb not in full database but in some sort of backup file that can be imported into a wallet?
Or this is on purpose - to store gbb you will need gb on hd as database grows?

[str4wm4n]

Will there be a way to backup private assets via a seed in the future?

I love paper wallets and it's a shame I can't make one for Blackbytes!

[tonych]

We recently updated our transaction explorer https://explorer.byteball.org.
Now it shows detailed information about transactions in blackbytes:



This is all we know about them.

[Bimmerhead]

Sorry if this has already been asked...

I'm trying to send 1 GB from my wallet to cryptox.pl, but it changes the quantity I'm sending from 1 to zero. Cryptox is seeing the transaction and confirming, but sees 0 as being sent.

Anyone else having this?

[tonych]

Sorry if this has already been asked...

I'm trying to send 1 GB from my wallet to cryptox.pl, but it changes the quantity I'm sending from 1 to zero. Cryptox is seeing the transaction and confirming, but sees 0 as being sent.

Anyone else having this?

There was a bug, please upgrade to 1.2.0.

[jacaf01]

Version 1.2.0 is released https://github.com/byteball/byteball/releases.
It includes ability to partially recover from seed:



As was said before, the seed doesn't allow to recover blackbytes because they are not stored on the public database.
Recovery works only in full wallets because it scans the local copy of the database for addresses generated from the seed.

To restore your bytes (but not blackbytes) from seed, you will need to download the wallet, choose "Full wallet", wait that it syncs and then go to the Recovery menu in Settings.

Also, a number of small bugs fixed in this release.

Nice work, I saw the update on twitter. Byteball steady progress is great, very soon it will be in the top 10 marketcap, I just hope Poloniex would be rational and list Byteball on their exchange.

[pol5]

   my antivirus displays threats when unpacking and installing a new version of the client. it is a false positive?  I hope that this is just an error       https://supload.com/HkwYB7Mdx

[coinzcoinzcoinz]

New to Byteball; couple of questions that I couldnt figure out myself:

1) what is the difference between bytes and blackbites? Why are there 2 tokens?
2) On Coinmarketcap it says available supply: 100,000 GByte. Why is it called Gbyte there and not bytes?
3) The total supply on Coinmarketcap (100,000), is that the eventual total supply (all coins that will ever exist), or is it the current total supply (10% of the eventual coin supply -- the coins that were released in the first distribution round)?

Thanks!

1) Bytes is the main currency of the Byteball network, is the currency fees are paid in. Blackbytes are a defined asset which can be used for private untraceable exchange of said currency, blackbytes only paying the network fee in bytes.

2) Gbyte because its easier to say and spell out than whole 100 000 000 000, like we use MegaBytes, KiloBytes etc, standard SI notation.

3) Dunno the first post says something about 10^15 total supply, 10% of that is distributed.  

Thanks for the answers! Can someone clarify the current total supply (final total supply-90%) and the final supply (current total supply+90%)? 10^15 can't be right?! Thanks!

There are a total of 1000000 giga bytes. 100000 was distributed.

Wow so you are saying the true market cap is $100 million! Crazy! Byteball is awesome, but it is not worth so much at this stage! I'm staying away for now, but will be participating in the next round of free coins. Really cool project btw, beautiful UI/UX for the wallet as well. I wonder if this is truly the next evolution of decentralized distributed networks, it could be. Vitalik and Satoshi will feel pretty stupid if this stuff turns out to be superior to blockchains.

[escapefrom3dom]

   my antivirus displays threats when unpacking and installing a new version of the client. it is a false positive?  I hope that this is just an error       https://supload.com/HkwYB7Mdx

accordind to 2/56

http://i045.radikal.ru/1702/35/27349509e65d.jpg

it's ok.

[freezal]

Hi tonych,

Shower thought (almost certainly a stupid one as always happens when you don't exert deep thinking, as I haven't finished reading the white paper, and have no time right now to research feasibility):

Would it be possible to optionally (because it changes somewhat the privacy/anonymity model) save assets (including blackbytes) in the public DAG as a compressed and encrypted payload (not much differently of what is saved locally today) paying due commissions?
Maybe we could now use a different seed for each asset to generate private keys for them and some hash of these to encrypt assets payload after each transaction.
Wallets would scan the DAG trying to decrypt asset payloads to get balance and history (some optimizations may apply).
Somehow old saved payloads in the DAG could be pruned as assets carry their own history.

Pro:
- Massive improvement in usability, no need to back-up local assets after each transaction (simplicity is beauty).
Cons:
- Privacy model changes (thus to use it optionally) as now assets history only remains private as long as no one discover a way to decrypt the payload which is now publicly available.
- Increased storage requisites for the DAG (but it'd be optional and has costs)