Obyte: Totally new consensus algorithm + private untraceable payments

[gembira]

Byteball: Exclusive Interview with developer tonych in English:
https://altcoinspekulant.wordpress.com/2016/10/06/byteball-exclusive-interview-with-developer-tonych-in-english/

Great interview, thank you very much! 

Everybody, please retweet: https://twitter.com/altcoinspekulan/status/784122634095235072

https://twitter.com/altcoinspekulan/status/784122634095235072
done retweeted 
thanks to @WorldCoiner for share it
#byteball #blockchain #Airdrop

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[tonych]

we might also have to delay the launch if we see that we are getting too few people on board, hence we don’t get the desired network effects right from the start

Do you have a number in mind on how many signed up accounts will you consider enough for start up?

This may sound like I'm thinking too big, but I'm looking to roughly 10% of bitcoins in circulation to be linked.

Do you have any strategy on how to reach such number? Will there be paid marketing or some other efforts?

Currently trying a few ideas, not to say I have a strategy at the moment.
However, I'm not to reach that alone, the community initiatives and efforts are most welcome.

[tonych]

P.S. History in linux GUI shows me whom did I send bytes, but does not show me whom did I receive them from,

We might add the sender address(es) in a future version, but not sure it is informative.  A typical wallet has dozens of addresses; when a payment is sent, any of these addresses may be used, and their relation to the real person is usually not known.

and when I download CSV file, it shows me Chinese hieroglyphs.

I tried and opened the CSV in a text editor, and I can't see any hieroglyphs.  How did you get them?

[tonych]

Coin and project looks great. Sadly the distribution is not the best. If exchanges don't agree to distribute the bbs to their userbase then the project is doomed before it starts. Imagine the exchanges all holding huge bags and manipulating the markets they essentially already make.


Also the coins should be available for a very short time after the snapshot. Hopefully the super rich super whales won't pay any attention until it's too late to claim their huge stakes they seem entitled too just for already being super rich.

The claim of wanting wide involvement but essentially leaving out huge swathes of the crypto community with LTC and DOGE like clams did does not seem like a good plan either. I don't see that people will switch back to btc for the snapshot and if they did in any great numbers it would cause havoc for those alts.

The article essentially asks this and the answer is i want to reward early adopters of BTC? that is the only logical explanation. Wanting a wider distribution is not a reasonable explanation for not using other large alt communities and getting them involved.

In all honesty a well advertised ICO could be seen as way fairer.

In every monetary system, there are those who are rich, it's inevitable, and it is not a problem we are trying to solve.

You seem to have special preference for LTC and Doge; if you have any data that supports your point of view that their communities are comparable to Bitcoin's to justify complexity, go ahead and present the data.

[yvv]

P.S. History in linux GUI shows me whom did I send bytes, but does not show me whom did I receive them from,

We might add the sender address(es) in a future version, but not sure it is informative.  A typical wallet has dozens of addresses; when a payment is sent, any of these addresses may be used, and their relation to the real person is usually not known.

and when I download CSV file, it shows me Chinese hieroglyphs.

I tried and opened the CSV in a text editor, and I can't see any hieroglyphs.  How did you get them?

Text editor indeed shows English. Encoding must be messed up in my spreadsheet. As for payment, some hint on where did it come from would be definitely useful. The faucet bot sends some note with a payment which does not make much sense to me, but better than nothing, however this note is not shown in GUI. I can see it only if I export my history into CSV.

[CryptoSporidium]

Coin and project looks great. Sadly the distribution is not the best. If exchanges don't agree to distribute the bbs to their userbase then the project is doomed before it starts. Imagine the exchanges all holding huge bags and manipulating the markets they essentially already make.


Also the coins should be available for a very short time after the snapshot. Hopefully the super rich super whales won't pay any attention until it's too late to claim their huge stakes they seem entitled too just for already being super rich.

The claim of wanting wide involvement but essentially leaving out huge swathes of the crypto community with LTC and DOGE like clams did does not seem like a good plan either. I don't see that people will switch back to btc for the snapshot and if they did in any great numbers it would cause havoc for those alts.

The article essentially asks this and the answer is i want to reward early adopters of BTC? that is the only logical explanation. Wanting a wider distribution is not a reasonable explanation for not using other large alt communities and getting them involved.

In all honesty a well advertised ICO could be seen as way fairer.

New projects require committed early adopters. Most bitcoin early adopters learnt enough, and made enough money to follow crypto semi full time,  and they are most likely people to get a new coin off the ground. An army of privates will never win a war, there must be sergeants,  captains,  lieutenants,  majors, colonels above, and then a few generals. Without a few whales a coin has no generals. It is the painful truth, rich guys have more incentive to 'act' than small hobbyists

[tonych]

Will there be an asset exchange marketplace (something like Nxt AE and Counterparty) in Byteball?

There is a smart contract example in the white paper on pages 29-30 that can be used to set up a decentralized exchange.  Anyone can start from there and build an exchange.  I could do that myself but would rather allow somebody else to be first as I'm not willing to control all important pieces of infrastructure.

[yvv]

Will there be an asset exchange marketplace (something like Nxt AE and Counterparty) in Byteball?

There is a smart contract example in the white paper on pages 29-30 that can be used to set up a decentralized exchange.  Anyone can start from there and build an exchange.  I could do that myself but would rather allow somebody else to be first as I'm not willing to control all important pieces of infrastructure.

This network makes a little sense without practical applications on top of it, like decentralized exchange. You better give some bytes to companies who will build such applications.

[tonych]

Will there be an asset exchange marketplace (something like Nxt AE and Counterparty) in Byteball?

There is a smart contract example in the white paper on pages 29-30 that can be used to set up a decentralized exchange.  Anyone can start from there and build an exchange.  I could do that myself but would rather allow somebody else to be first as I'm not willing to control all important pieces of infrastructure.

This network makes a little sense without practical applications on top of it, like decentralized exchange. You better give some bytes to companies who will build such applications.

Agreed about practical applications, but an exchange is a business, it is supposed to earn money, do you say it needs to be subsidized?

[yvv]

Will there be an asset exchange marketplace (something like Nxt AE and Counterparty) in Byteball?

There is a smart contract example in the white paper on pages 29-30 that can be used to set up a decentralized exchange.  Anyone can start from there and build an exchange.  I could do that myself but would rather allow somebody else to be first as I'm not willing to control all important pieces of infrastructure.

This network makes a little sense without practical applications on top of it, like decentralized exchange. You better give some bytes to companies who will build such applications.

Agreed about practical applications, but an exchange is a business, it is supposed to earn money, do you say it needs to be subsidized?

It is not subsidizing, it is incentivizing to choose your platform for their business over competitors. Otkat

[Tobo]

Agreed about practical applications, but an exchange is a business, it is supposed to earn money, do you say it needs to be subsidized?

It is a good model that you build a good infrastructure and let the people with entrepreneur spirit build more efficient business and applications on top of it.  

It seems the financial assets trading market is a good starting market for Byteball to target. This market is in the front line being heavily explored by both public and private chains. Lots of promotion work have been done by the existing platforms. The network effect and the awareness in this front will benefit Byteball if Byteball is much better than the existing platforms.

[Krypt]

Will there be an asset exchange marketplace (something like Nxt AE and Counterparty) in Byteball?

There is a smart contract example in the white paper on pages 29-30 that can be used to set up a decentralized exchange. Anyone can start from there and build an exchange.  I could do that myself but would rather allow somebody else to be first as I'm not willing to control all important pieces of infrastructure.

This network makes a little sense without practical applications on top of it, like decentralized exchange. You better give some bytes to companies who will build such applications.

Agreed about practical applications, but an exchange is a business, it is supposed to earn money, do you say it needs to be subsidized?

No, Touque asked not about business, but about core feature - built-in Asset Exchange like Nxt or Counterparty have. Its absolutely musthave.

[tonych]

Will there be an asset exchange marketplace (something like Nxt AE and Counterparty) in Byteball?

There is a smart contract example in the white paper on pages 29-30 that can be used to set up a decentralized exchange. Anyone can start from there and build an exchange.  I could do that myself but would rather allow somebody else to be first as I'm not willing to control all important pieces of infrastructure.

This network makes a little sense without practical applications on top of it, like decentralized exchange. You better give some bytes to companies who will build such applications.

Agreed about practical applications, but an exchange is a business, it is supposed to earn money, do you say it needs to be subsidized?

No, Touque asked not about business, but about core feature - built-in Asset Exchange like Nxt or Counterparty have. Its absolutely musthave.

In Byteball, a trustless exchange is not a built-in core feature, but rather an application based on smart contracts as a platform.  That's a technical distinction that doesn't negate the fact that an exchange is important for liquidity of user issued assets.

[allwelder]

Will there be an asset exchange marketplace (something like Nxt AE and Counterparty) in Byteball?

There is a smart contract example in the white paper on pages 29-30 that can be used to set up a decentralized exchange. Anyone can start from there and build an exchange.  I could do that myself but would rather allow somebody else to be first as I'm not willing to control all important pieces of infrastructure.

This network makes a little sense without practical applications on top of it, like decentralized exchange. You better give some bytes to companies who will build such applications.

Agreed about practical applications, but an exchange is a business, it is supposed to earn money, do you say it needs to be subsidized?

No, Touque asked not about business, but about core feature - built-in Asset Exchange like Nxt or Counterparty have. Its absolutely musthave.

In Byteball, a trustless exchange is not a built-in core feature, but rather an application based on smart contracts as a platform.  That's a technical distinction that doesn't negate the fact that an exchange is important for liquidity of user issued assets.

Yeah,centralized exchange is also important for investors or speculators.

[galaxiekyl]

why do an copy of copy..like you said..nxt and counterparty exist and other also..i see "augur" have made something of different.. may be that it's better watching in other direction

[bitcoinuserz]

Coin and project looks great. Sadly the distribution is not the best. If exchanges don't agree to distribute the bbs to their userbase then the project is doomed before it starts. Imagine the exchanges all holding huge bags and manipulating the markets they essentially already make.


Also the coins should be available for a very short time after the snapshot. Hopefully the super rich super whales won't pay any attention until it's too late to claim their huge stakes they seem entitled too just for already being super rich.

The claim of wanting wide involvement but essentially leaving out huge swathes of the crypto community with LTC and DOGE like clams did does not seem like a good plan either. I don't see that people will switch back to btc for the snapshot and if they did in any great numbers it would cause havoc for those alts.

The article essentially asks this and the answer is i want to reward early adopters of BTC? that is the only logical explanation. Wanting a wider distribution is not a reasonable explanation for not using other large alt communities and getting them involved.

In all honesty a well advertised ICO could be seen as way fairer.

New projects require committed early adopters. Most bitcoin early adopters learnt enough, and made enough money to follow crypto semi full time,  and they are most likely people to get a new coin off the ground. An army of privates will never win a war, there must be sergeants,  captains,  lieutenants,  majors, colonels above, and then a few generals. Without a few whales a coin has no generals. It is the painful truth, rich guys have more incentive to 'act' than small hobbyists

Agree. So who is the general? 

[syahril]

so
what byteball good for future??/

[CryptoSporidium]

Will snapshot be in october?

[d-trix]

Will snapshot be in october?

According to OP at the end of this month or early November depending on the additional work needed to be done before mainnet launch.

[Skatebird]

Cant wait to see some developpment here !!