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Author Topic: Obyte: Totally new consensus algorithm + private untraceable payments  (Read 1219089 times)
portabella
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February 16, 2017, 10:21:45 AM
 #5041



That's a valid concern and freezal got it right: the network had to start centralized and no one's showed up yet with the needed reputation and credibility.  I'm going to use every opportunity to relinquish control over 11 out of 12 witnesses in favor of reputable individuals/organizations/companies that are willing to be part of the network.  That would make the network only stronger thanks to both their involvement and the network becoming more decentralized.

You could have an election for 12 witnesses like Komodo did for their 64 notary nodes.


Why bringing politics in when there's no need for it? Human intervention shouldn't be as strong as this. I mean Bitcoin works because there's very little human intervention. There's a lot of politics outside the protocol (big blocks, small blocks, BU not BU) but that doesn't harm the continuation of the network.
I'm confused on this one  Roll Eyes

If there is a better decentralised way to select 12 witnesses than a vote by coin holders then we should do that, but is there?

look at eigentrust+ a peer2peer technology which is used to support a trust relationship in decentralized networks
NEM implemented it to create tzogether with their POI (prove of importance) a blockchain consense mechanism that can create a high secured network without any energy waste (POW) and without any human interaction needed (witnesses lists manual set by wallet owners)

https://en.wikipedia.org/wiki/NEM_(cryptocurrency)#Node_Reputation_System
"Although the NEM client is open source and available on github,[7] the NEM server based component, the NIS, is closed source and the binary is obfuscated to presumably prevent decompilers from revealing how it works."

That raises many red flags and sirens.

Another interesting algorithm for P2P networks is FairShare, it improved bittorrent seeding/leeching ratio massively, speeds up initial transfers and is very difficult to attack - since that algorithm doesnt need to ask other peers anything, is only in the client and affects the way client initiates and picks whom to talk to.

EigenTrust looks very nice and interesting, thanks!
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Vaelin
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February 16, 2017, 10:26:17 AM
 #5042

I've noticed on the website it states:

Quote
In the 3rd round, which is scheduled for the full moon of March (March 12, 2017 at 14:54 UTC), we'll distribute 62.5 MB for each 1 BTC of linked balance and 0.1 new byte for each 1 byte received in the first round.

Are they really only handing out 0.1 per byte for those who took part in the first round, or should this say that people will receive 0.1 per byte for those who participated in earlier rounds?

I don't really understand why they would credit people on the first round with even more, but ignore those on the second round.
escapefrom3dom
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February 16, 2017, 10:37:52 AM
Last edit: February 16, 2017, 12:11:34 PM by escapefrom3dom
 #5043

I've noticed on the website it states:

Quote
In the 3rd round, which is scheduled for the full moon of March (March 12, 2017 at 14:54 UTC), we'll distribute 62.5 MB for each 1 BTC of linked balance and 0.1 new byte for each 1 byte received in the first round.

Are they really only handing out 0.1 per byte for those who took part in the first round, or should this say that people will receive 0.1 per byte for those who participated in earlier rounds?

I don't really understand why they would credit people on the first round with even more, but ignore those on the second round.

everyone will receive +10 % to the byteballs balance (at the snapshot time) no matter of participation in any previous rounds and even to unlinked (to btc) bb address.

ArpFlush
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February 16, 2017, 03:03:03 PM
 #5044

New to Byteball so can anyone tell me what happens when I link a BTC address with e.g. 5 BTC and then send this 5 BTC to another address? Maybe it's in the whitepaper but this text is too difficult for me to understand.

"Panic Selling is not an Investment Strategy"
nillohit
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February 16, 2017, 03:16:52 PM
 #5045

Please, vote : byteball to be listed on Exchangers:
https://c-cex.com/?id=vote
https://mercatox.com/coins/list

Please, everyone contact to add byteball on Exchangers:

https://poloniex.com/
https://bittrex.com/
https://yobit.net
https://bter.com/
https://www.allcoin.com/
https://bleutrade.com
https://usecryptos.com/
https://hitbtc.com/
https://tuxexchange.com/
https://www.livecoin.net/
https://alcurex.com
https://www.cryptopia.co.nz/
https://www.coinexchange.io/
https://novaexchange.com/
https://www.southxchange.com/
https://www.coingather.com/
https://tradesatoshi.com/
https://liqui.io/
https://tidex.com

 Grin

П    |⧛ ☛  Join the signature campaign and earn free PI daily!  ✅ |⧛    П
|⧛         ☛  PiCoin - get in now  ✅     ☛ No ICO!  ✅          |⧛
CryptKeeper
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February 16, 2017, 03:28:07 PM
 #5046

New to Byteball so can anyone tell me what happens when I link a BTC address with e.g. 5 BTC and then send this 5 BTC to another address? Maybe it's in the whitepaper but this text is too difficult for me to understand.

If you're bitcoin address is empty at the time of the distribution snapshot, you'll get no byteball coins.
You are free to move your bitcoins around between the snapshots. You can also link another bitcoin address, they will be all summed up!

Next snapshot is on March 12, 2017 at 14:54 UTC, don't miss it!

Follow me on twitter for the latest news on bitcoin and altcoins and I'll follow you back the same day!
Obyte - An open cryptocurrency platform ready for real world adoption
ArpFlush
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February 16, 2017, 03:54:05 PM
 #5047

New to Byteball so can anyone tell me what happens when I link a BTC address with e.g. 5 BTC and then send this 5 BTC to another address? Maybe it's in the whitepaper but this text is too difficult for me to understand.

If you're bitcoin address is empty at the time of the distribution snapshot, you'll get no byteball coins.
You are free to move your bitcoins around between the snapshots. You can also link another bitcoin address, they will be all summed up!

Next snapshot is on March 12, 2017 at 14:54 UTC, don't miss it!
Ah ok, I get it now. Thanks man!

"Panic Selling is not an Investment Strategy"
str4wm4n
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February 17, 2017, 02:49:41 AM
 #5048

Is anyone developing cool projects using Byteball?

I am, but they're not to the point yet where I want to announce.

I'm really excited though!  Grin
CryptKeeper
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February 17, 2017, 06:29:28 AM
 #5049

Is anyone developing cool projects using Byteball?

I am, but they're not to the point yet where I want to announce.

I'm really excited though!  Grin

Yes, we already have some new developers starting with exciting projects, but we need more!

The best place to discuss development topics is the #tech channel at the byteball slack, get your invite here:

http://slack.byteball.org

Follow me on twitter for the latest news on bitcoin and altcoins and I'll follow you back the same day!
Obyte - An open cryptocurrency platform ready for real world adoption
SatoNatomato
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February 17, 2017, 10:34:20 AM
 #5050

Best DAG-coin ever.

Confirmation and finality times on average are less than 2 minutes for me.

When is the first lottery game coming? Is anyone working on that, "send your bytes to this address and out of all the addresses-which sent bytes, one of them will be given the full amount - casino-maker fee"?
CryptKeeper
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February 17, 2017, 10:51:34 AM
 #5051

Are you excited about Byteball as we are?  Grin

Do you want to help us spreading the good news?

Then please follow these three accounts on twitter:

@ByteballOrg
@Vindyne8
@CryptKeeperBTT

for all the latest news. There will be regular tweets about Byteball from these accounts, please retweet!

Follow me on twitter for the latest news on bitcoin and altcoins and I'll follow you back the same day!
Obyte - An open cryptocurrency platform ready for real world adoption
escapefrom3dom
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February 17, 2017, 11:02:16 AM
 #5052

Best DAG-coin ever.

Confirmation and finality times on average are less than 2 minutes for me.

When is the first lottery game coming? Is anyone working on that, "send your bytes to this address and out of all the addresses-which sent bytes, one of them will be given the full amount - casino-maker fee"?


soon.  Grin

can anybody tell about TPS rate and predictable database growth?


SatoNatomato
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February 17, 2017, 12:38:59 PM
 #5053

Best DAG-coin ever.

Confirmation and finality times on average are less than 2 minutes for me.

When is the first lottery game coming? Is anyone working on that, "send your bytes to this address and out of all the addresses-which sent bytes, one of them will be given the full amount - casino-maker fee"?


soon.  Grin

can anybody tell about TPS rate and predictable database growth?


There is no TPS set in stone as with bitcoin, where the blocksize basically determines how many transactions you can fit in a block, with Byteball, theoretically it should handle hundreds of thousands tx/s, but today its not optimized at all for this speed.

I guess the upper practical limit is the 12 witnesses, how many transactions they can see (bot dont need to see it at the same time) and post to each other and append to the database, to the main chain.

There is nothing stopping you from making really a massive amounts of transactions on your own chain - and have it merged to the Main Chain when posting it for the witnesses to see. As long as you didnt double-spend, the verification of which witnesses do takes little time compared to what you spend in making the transactions, if all is fine, your chain of massive amount of txs will be in the main chain.

And none of this needs "proof-of-work".

Isnt this nice? Yes, it is.

 

Come-from-Beyond
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February 17, 2017, 01:26:15 PM
 #5054

There is nothing stopping you from making really a massive amounts of transactions on your own chain - and have it merged to the Main Chain when posting it for the witnesses to see.

You didn't mention signatures validation...
SatoNatomato
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February 17, 2017, 01:40:08 PM
Last edit: February 17, 2017, 01:52:46 PM by SatoNatomato
 #5055

There is nothing stopping you from making really a massive amounts of transactions on your own chain - and have it merged to the Main Chain when posting it for the witnesses to see.

You didn't mention signatures validation...
Did you forget to mention that Proof-of-Work in IOTA is a waste of energy, and time, since it does not in fact enforce any consensus or even security of the protocol? Due to nature of IoT devices being orders of magnitude less powerful than even normal PCs, and you expect them to run your dumb proof-of-work, waste energy and space. Because.... ? Yeah IOTA still relies on developers deciding consensus with milestones, and still is not on exchanges despite being a year or so in development, and still lacks even basics of smart contracts. Not to mention, requires human intervention to even setup nodes.  Roll Eyes

Do I need to go on?

You're in this thread only because you are glowing red of envious, someone else made something better than you, and you are scared that Byteball will steal your lunch money, so you try to troll it away.

And your trolling is bad, I did mention signature validation, that is verification.
Tarz
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February 17, 2017, 01:44:55 PM
 #5056

Best DAG-coin ever.

Confirmation and finality times on average are less than 2 minutes for me.

When is the first lottery game coming? Is anyone working on that, "send your bytes to this address and out of all the addresses-which sent bytes, one of them will be given the full amount - casino-maker fee"?


soon.  Grin

can anybody tell about TPS rate and predictable database growth?



Soon I will provide a complete noobs guide on how the tps is calculated and what the expected roi is for an average middle -end gpu farm, but bear in mind that byteball is not mineable and does not assume any value in its current state as its not listed on any exchanges, making it impossible for u to profit off ur share in byteball or lisk.
SatoNatomato
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February 17, 2017, 01:49:42 PM
 #5057

Soon I will provide a complete noobs guide on how the tps is calculated and what the expected roi is for an average middle -end gpu farm, but bear in mind that byteball is not mineable and does not assume any value in its current state as its not listed on any exchanges, making it impossible for u to profit off ur share in byteball or lisk.
You're talking of another coin, possibly a shitcoin called Iota which requires Proof-of-Work, there is no point in "gpu farm" with Byteball. Which is also listed on the exchange https://cryptox.pl

Are you a sockpuppet of Come-from-Beyond? Id suggest to delete the post and move it elsewhere in the censored Iota thread.
Papski
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February 17, 2017, 01:53:50 PM
 #5058

balls will make me rich hehehe
Vaelin
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February 17, 2017, 02:26:45 PM
 #5059

There is nothing stopping you from making really a massive amounts of transactions on your own chain - and have it merged to the Main Chain when posting it for the witnesses to see.

You didn't mention signatures validation...
Did you forget to mention that Proof-of-Work in IOTA is a waste of energy, and time, since it does not in fact enforce any consensus or even security of the protocol? Due to nature of IoT devices being orders of magnitude less powerful than even normal PCs, and you expect them to run your dumb proof-of-work, waste energy and space. Because.... ? Yeah IOTA still relies on developers deciding consensus with milestones, and still is not on exchanges despite being a year or so in development, and still lacks even basics of smart contracts. Not to mention, requires human intervention to even setup nodes.  Roll Eyes

Do I need to go on?

You're in this thread only because you are glowing red of envious, someone else made something better than you, and you are scared that Byteball will steal your lunch money, so you try to troll it away.

And your trolling is bad, I did mention signature validation, that is verification.

It is my understanding that PoW is not performed by each device, rather the device signs a transaction and the PoW is done by a full node.

I do not have enough technical knowledge or enough knowledge of IOTA to say whether that is a viable concept. I am not trying to defend it. I just want to point out that that specific criticism is not really valid.
Come-from-Beyond
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February 17, 2017, 02:43:51 PM
 #5060

And your trolling is bad, I did mention signature validation, that is verification.

Then it seems to me that your "really a massive amounts of transactions" is not that massive as I assumed. I see you have very little understanding about cryptocoins internals and bottlenecks they have.
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