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Author Topic: Obyte: Totally new consensus algorithm + private untraceable payments  (Read 1165165 times)
rty
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July 10, 2018, 10:48:58 PM
Merited by LoyceV (1)
 #19521

The Future of Byteball — The Byteball Foundation
Suirelav
Crypto enthusiast, Byteball Core Team

https://medium.com/byteball/the-future-of-byteball-the-byteball-foundation-cca9d495bf46

Roadmap



Long term vision / short term focus

We will publish a long term strategic plan including the most important milestones within the coming months as well. There are two important areas we will put most effort into short term, user acquisition and decentralization:
Adoption through educated trial and error
There’s one thing you can be sure of, we will keep trying new methods to gain users for our platform. There is no clear path that we must take. This means that we will iterate a lot and improve through educated trial and error.

50% of Witnesses decentralized before January 1st 2019
Perhaps most important of all, we are going to finally decentralize the network. This is a must if we want to seriously compete in the tokenization of assets field that is going to become the next crypto battlefield. Our goal is to have at least half of the witnesses in the hands of people other than Tony before the end of the year.
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July 10, 2018, 11:35:04 PM
 #19522

The Future of Byteball — The Byteball Foundation
Suirelav
Crypto enthusiast, Byteball Core Team

https://medium.com/byteball/the-future-of-byteball-the-byteball-foundation-cca9d495bf46
...
Long term vision / short term focus

Our goal is to have at least half of the witnesses in the hands of people other than Tony before the end of the year.

Excellent. This lack of decentralization is likely byteball's greatest weakness. You're finally addressing it head-on. Thank you.

However, there is a distinct lack of 'showing your work' between 6th Witness spun out and Full Decentralization. Isn't the witness count 12? Looks like you have another 5 Witness spin outs to go before tonych is down to a single Witness - which would be the minimum criteria for Witness decentralization.

Anyone with a campaign ad in their signature -- for an organization with which they are not otherwise affiliated -- is automatically deducted credibility points.

I've been convicted of heresy. Convicted by a mere known extortionist. Read my Trust for details.
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July 11, 2018, 01:47:26 AM
 #19523


Smart contract anonymous sports betting tool BB Odds https://bb-odds.herokuapp.com/ reviewed by Milan Horvath, Byteball Community Manager.

https://youtu.be/dnndKjI3pWc

I staked 50MB for France winning. Let's see how this plays out!

You can payout after 6 hours  Wink france win

I got the payment. Thank you very much!

Can't the payout time be shortened? Waiting for 6 hrs to receive payment is a bit frustrating. It would be great if the payment could be received in 10-15 minutes after the game concludes. User experience would be even better.


Chancellor on brink of second bailout for banks
romeox6x
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July 11, 2018, 01:38:51 PM
 #19524

One thing that comes to mind directly is that waiting until 2019 Q2 for scaling improvements is too long for at least two reasons. One: new users always ask about tx speed, tx per second, space requirement, etc and at this moment these metrics are unattractive and will scare off most people
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July 11, 2018, 06:43:40 PM
 #19525

The Future of Byteball — The Byteball Foundation
Suirelav
Crypto enthusiast, Byteball Core Team

https://medium.com/byteball/the-future-of-byteball-the-byteball-foundation-cca9d495bf46

good read. i appreciate the honesty.

an absolute ton of progress would not have been squandered if a couple of painfully obvious things had been implemented.

one was signalling the change of distribution method much further ahead and offering an immediate alternative. distribution, no matter what the method, needs clarity and decisiveness or tons of people will walk away. where would bitcoin be if satoshi had decided to delete the block reward and think it over for a few months?

the second is addressing that old unit bias thing.

both were free and involved little to no actual effort. this project would've been much further along by now had they happened.

i hope some lessons have been learnt.
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July 11, 2018, 11:44:41 PM
 #19526

Wow, its a good news! I see evolution here  Cheesy
Can't wait when decentralization and scalability problems will be solved.

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July 12, 2018, 12:29:09 AM
 #19527

So go from a premine of nominally 1% to 22+% and commit to giving up control of 50% of network control (except probably at least one or two controlled by foundation which is de facto same people running network now). Wow. Such decentralization!
sailthor
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July 12, 2018, 12:41:53 AM
 #19528

So go from a premine of nominally 1% to 22+% and commit to giving up control of 50% of network control (except probably at least one or two controlled by foundation which is de facto same people running network now). Wow. Such decentralization!
Yep. No idea what they're trying to accomplish here anymore

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July 12, 2018, 10:48:32 AM
 #19529

So go from a premine of nominally 1% to 22+% and commit to giving up control of 50% of network control (except probably at least one or two controlled by foundation which is de facto same people running network now). Wow. Such decentralization!

22%?

The breakdown is now as follows:
67,2% Distributed, of which reserved (in % of total supply)
1% Tony (BZUAVP5O4ND6N3PVEUZJOATXFPIKHPDC)
1% First 100M users (TUOMEGAZPYLZQBJKLEM2BGKYR2Q5SEYS)

32,8% Undistributed (MZ4GUQC7WUKZKKLGAS3H3FSDKLHI7HFO), of which reserved (in % of total supply):
20,5% Several distribution methods (cashback, attestation rewards, textcoins, etc.)
11% Foundation funding (spent over 36 months, but hopefully lasts much longer than that)
1,3% Long term motivation plan (we don't want these foundation members to give up)

Decentralization of 11 out of 12 witnesses was always the plan, but it's not as easy as it seems. Neither is mass adoption. To achieve our ambitious goals we need a foundation with enough funding to make it happen. In the article we try to explain our reasoning behind this decision. If you have any questions or other remarks please share them.


⚪ Byteball     ❱❱❱     I T   J U S T   W O R K S .    ❱❱❱
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July 12, 2018, 12:08:39 PM
 #19530

Bringing smart contracts and betting to esports is definitely a great move.
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July 12, 2018, 12:51:48 PM
 #19531

So go from a premine of nominally 1% to 22+% and commit to giving up control of 50% of network control (except probably at least one or two controlled by foundation which is de facto same people running network now). Wow. Such decentralization!

22%?

The breakdown is now as follows:
67,2% Distributed, of which reserved (in % of total supply)
1% Tony (BZUAVP5O4ND6N3PVEUZJOATXFPIKHPDC)
1% First 100M users (TUOMEGAZPYLZQBJKLEM2BGKYR2Q5SEYS)

32,8% Undistributed (MZ4GUQC7WUKZKKLGAS3H3FSDKLHI7HFO), of which reserved (in % of total supply):
20,5% Several distribution methods (cashback, attestation rewards, textcoins, etc.)
11% Foundation funding (spent over 36 months, but hopefully lasts much longer than that)
1,3% Long term motivation plan (we don't want these foundation members to give up)

Decentralization of 11 out of 12 witnesses was always the plan, but it's not as easy as it seems. Neither is mass adoption. To achieve our ambitious goals we need a foundation with enough funding to make it happen. In the article we try to explain our reasoning behind this decision. If you have any questions or other remarks please share them.




good, I am glad to see what will happen to byteball.
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July 12, 2018, 02:49:14 PM
 #19532

once i enter the amount of currency i wanna make payment in the bot sends me the amount of tokens i will receive and the wallet address i need to make payment to. what's the process afterwards?

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July 12, 2018, 02:59:21 PM
 #19533

The Byteball wallet doesn’t support BTC directly, that’s why you have to send it to another address. You can check (on their site I assume) if that’s the correct BTC address for their ICO
If you buy tokens with Bytes you will get them directly
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July 12, 2018, 06:01:07 PM
 #19534

Steem attestation bot launched https://medium.com/byteball/introducing-a-bridge-between-byteball-and-steem-and-an-airdrop-548d7958b9e9
After attesting your Steem username, you can send/receive money to steem/username instead of a less user-friendly crypto address and receive privileges for high Steem reputation:

- The real name attestation bot offers a 30% discount to users with Steem reputation over 50;
- The “Buy Bytes with Visa or Mastercard” bot offers a 3% bonus of the purchased amount to users with Steem reputation over 50;
- The ICO bot includes an option to offer various levels of discounts depending on Steem reputation. It is up to individual ICOs to enable this option.

There is also an airdrop for Steem users, amounts depend on reputation.  Referrers receive the same rewards as newly attested users they refer.  Part of the reward is locked on a smart contract that vests in 1 year.



To use all that, you need to upgrade to wallet version 2.4.0 released today https://github.com/byteball/byteball/releases.

Other updates in this version:

* Spending unconfirmed funds
* Receiving textcoins before confirmation
* Restored the ability to send private assets between own wallets without going through textcoin files
* Fixed several bugs that could crash full wallets
* Fixed a bug in full wallets that could lead to loss of funds when trying to send a private textcoin and declining the save dialog
* Fixed a bug that sometimes prevented password-locked light wallets from starting
* Fixed weird display of one of initial screens in iPhone X
* Estonian translation, other translations improved

iOS version will be updated with some delay as it needs to be reviewed by Apple.

Simplicity is beauty
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July 12, 2018, 06:14:46 PM
 #19535

So go from a premine of nominally 1% to 22+% and commit to giving up control of 50% of network control (except probably at least one or two controlled by foundation which is de facto same people running network now). Wow. Such decentralization!

22%?

The breakdown is now as follows:
67,2% Distributed, of which reserved (in % of total supply)
1% Tony (BZUAVP5O4ND6N3PVEUZJOATXFPIKHPDC)
1% First 100M users (TUOMEGAZPYLZQBJKLEM2BGKYR2Q5SEYS)

32,8% Undistributed (MZ4GUQC7WUKZKKLGAS3H3FSDKLHI7HFO), of which reserved (in % of total supply):
20,5% Several distribution methods (cashback, attestation rewards, textcoins, etc.)
11% Foundation funding (spent over 36 months, but hopefully lasts much longer than that)
1,3% Long term motivation plan (we don't want these foundation members to give up)

Decentralization of 11 out of 12 witnesses was always the plan, but it's not as easy as it seems. Neither is mass adoption. To achieve our ambitious goals we need a foundation with enough funding to make it happen. In the article we try to explain our reasoning behind this decision. If you have any questions or other remarks please share them.



You're correct, nominally 12% not 22%, but even so I don't think it's possible to have a legitimate currency where one entity is controlling 10% of the entire supply. This is a major issue for zcash and others, imo, and for a long time even cast a shadow over Bitcoin wrt Satoshi estimated to hold 5% of ultimate supply (though I think it's fairly widely believed that those coins will never move now).

Even 1% as originally proposed is massive. This would be equivalent to someone holding like $50 trillion USD. Five or ten percent or higher is just impossible to be taken seriously as a legitimate worldwide monetary system. I know it might not seem like it based on the mania of last year, but imo there little chance such a centralized system can be seen by most as anything but a money grab or Ponzi.
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July 12, 2018, 06:24:51 PM
 #19536

Introducing A Bridge Between Byteball And Steem (And An Airdrop)

The most important reason why smartphones became so successful is that they allow connections with anyone and everything in the world around them. Their sensors, their continuous internet connection, their touchscreen, cellular networks, the built in GPS, gyroscope and cameras allow developers to build amazing apps that combine data from all of these sources. Thus giving users access to a mind-blowing amount of apps that solve real world problems, apps smartphone users have grown to love.

Byteball is an application platform too and has a similar challenge of building connections with the outside world. The protocol already has the basic mechanisms for building these connections: oracles, witnesses, attestations, and now they should be filled with useful content.
https://medium.com/byteball/introducing-a-bridge-between-byteball-and-steem-and-an-airdrop-548d7958b9e9
vlom
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July 12, 2018, 06:34:44 PM
 #19537

haha.

Quote
Your transaction failed to process
Why? You've run out of bandwidth
Actions such as posting and voting use computing resources placing a real cost on the community members who run the Steem blockchain for everyone.

To keep things free, Steem intelligently allocates bandwidth to each user based on their Steem Power holdings, their recent usage and overall network demand. This system prioritizes actions by good community members while limiting spam.

To keep interacting on Steemit:

Buy and hold more Steem Power
Wait until your bandwidth recharges
Wait until the network usage decreases

why should I..

|\¯¯ \   /¯¯/| |¯¯¯|__'  /¯¯,¯¯\     /¯¯\/¯ \'  
\  \__\/__/ /' |_____'| |\____ /|'  /__ (\/)__\
  '\|____ |/'   |_____'|  \|___ |/ °|___ |v|___|
    '                                             
    '         [/colo
p3ppymon
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July 12, 2018, 07:53:56 PM
 #19538

The financial plan seems consistent and detailed. Scripting the critical moves is also a fundamental step, and that is accomplished. Perhaps more investment in marketing should not be overlooked. The more the people know the better! Keep the good work up!
LoyceV
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Self-made Legendary outside Meta!


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July 12, 2018, 08:54:46 PM
 #19539

hi is the free byte still available to new wallets?
Yes, but it hasn't started yet.

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July 13, 2018, 12:46:01 AM
 #19540

Steem attestation bot launched https://medium.com/byteball/introducing-a-bridge-between-byteball-and-steem-and-an-airdrop-548d7958b9e9
After attesting your Steem username, you can send/receive money to steem/username instead of a less user-friendly crypto address and receive privileges for high Steem reputation:

- The real name attestation bot offers a 30% discount to users with Steem reputation over 50;
- The “Buy Bytes with Visa or Mastercard” bot offers a 3% bonus of the purchased amount to users with Steem reputation over 50;
- The ICO bot includes an option to offer various levels of discounts depending on Steem reputation. It is up to individual ICOs to enable this option.

There is also an airdrop for Steem users, amounts depend on reputation.  Referrers receive the same rewards as newly attested users they refer.  Part of the reward is locked on a smart contract that vests in 1 year.

https://i.imgur.com/oCzEsLv.png

To use all that, you need to upgrade to wallet version 2.4.0 released today https://github.com/byteball/byteball/releases.

Other updates in this version:

* Spending unconfirmed funds
* Receiving textcoins before confirmation
* Restored the ability to send private assets between own wallets without going through textcoin files
* Fixed several bugs that could crash full wallets
* Fixed a bug in full wallets that could lead to loss of funds when trying to send a private textcoin and declining the save dialog
* Fixed a bug that sometimes prevented password-locked light wallets from starting
* Fixed weird display of one of initial screens in iPhone X
* Estonian translation, other translations improved

iOS version will be updated with some delay as it needs to be reviewed by Apple.




I am glad to hear that, it's a great progress. I am buying byteball now.
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