Obyte: Totally new consensus algorithm + private untraceable payments

[jwinterm]

Market Rank   #350

oof

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[wudackprod]

Want to remind that It is now possible to buy Bytes with credit card or bank transfer directly from the main page of our website👏🏼
The service is provided by http://CryptoCoin.pro

Check it out here: https://obyte.org/#checkout

[wudackprod]

Great news from Obyte: listing of Gbyte at the new exchange! 🚀 Folgory - Top 20 Exchange Ranked by Coinmarketcap (https://coinmarketcap.com/exchanges/folgory/)

Start trading GBYTE / BTC using the link: https://folgory.com/trade-crypto/GBYTE_BTC

[wudackprod]

Great news! We want to inform that we have made a huge step for our development - a new website has been launched - https://obyte.org.
It contains more information about the platform, products, technologies, etc. We are looking forward to your opinion and feedback! 🚀🚀🚀

[wudackprod]

Read the benefits of running Obyte full node #DAG (Directed Acyclic Graph) by one of the lead developers @tarmo888: https://twitter.com/tarmo888/status/1293336265446903813

[bitcampaign]

Dear community, I launched a crowdfunding project named “404monster” on MOO platform, 404monster is designed as a google chrome extension which enables common users to save valuable text to the DAG network of Obyte.

I'm afraid if implemented  the DAG network will be flooded with the garbage messages. Does Obyte really need that? I don't think so. I  would advise you to challenge something else, DeFi for example. Ethereum  had gotten high kudos for that, recently. Why wouldn’t Obyte do the same.

Obyte doesn't have to do the same thing with ethereum, although ethereum is getting credit with the DeFi project but unfortunately that's on the investor side but not the community currently complaining about the high transaction fees of the ETH network and whereas ETH is not ready to launch ETH 2.0 yet, that's true broken right

[Artifex]

Read the benefits of running Obyte full node #DAG (Directed Acyclic Graph) by one of the lead developers @tarmo888: https://twitter.com/tarmo888/status/1293336265446903813

Hi! Why complicate the way nodes communicate with each other? An ordered communication method is the best way to build a stable blockchain architecture.

[tarmo888]

Read the benefits of running Obyte full node #DAG (Directed Acyclic Graph) by one of the lead developers @tarmo888: https://twitter.com/tarmo888/status/1293336265446903813

Hi! Why complicate the way nodes communicate with each other? An ordered communication method is the best way to build a stable blockchain architecture.

It's not a graph of nodes communication, but graph of transactions. The transactions are not put into blocks, transactions have DAG structure. Obyte doesn't use blockchain.

[Artifex]

Then what is the advantage of this method of sending transactions? The ordered grid allows fast communication to nodes across the network and gives a speed of 1000tps

[tarmo888]

Then what is the advantage of this method of sending transactions? The ordered grid allows fast communication to nodes across the network and gives a speed of 1000tps

There is no block producers (miners), everyone with a full node can add a transaction directly to DAG and you don't have to bribe miners to include your transaction to block. Transactions are linked to each other, no linked blocks and no reorgs of already confirmed transactions.

You can read more about it there https://medium.com/obyte/dag/home

[Artifex]

Then what is the advantage of this method of sending transactions? The ordered grid allows fast communication to nodes across the network and gives a speed of 1000tps

There is no block producers (miners), everyone with a full node can add a transaction directly to DAG and you don't have to bribe miners to include your transaction to block. Transactions are linked to each other, no linked blocks and no reorgs of already confirmed transactions.

You can read more about it there https://medium.com/obyte/dag/home

for example, the TERA blockchain does not have a commission for sending transactions.

please tell me what bandwidth Obyte gives

[tarmo888]

Then what is the advantage of this method of sending transactions? The ordered grid allows fast communication to nodes across the network and gives a speed of 1000tps

There is no block producers (miners), everyone with a full node can add a transaction directly to DAG and you don't have to bribe miners to include your transaction to block. Transactions are linked to each other, no linked blocks and no reorgs of already confirmed transactions.

You can read more about it there https://medium.com/obyte/dag/home

for example, the TERA blockchain does not have a commission for sending transactions.

please tell me what bandwidth Obyte gives

Well, that's great that it doesn't have fees, but why would anybody value those coins if they are not needed for anything? Their value is only based on speculation? You sure it's not security token? Obyte Bytes are not security token, they have real utility, you need them to make transactions on Obyte.

I think you didn't read the link I posted or you didn't understand it because you only care about TPS. Obyte is not blockchain, so it doesn't have blockchain problems and it can do more TPS on mainnet that there is demand. Even more bandwidth can be done using payment channels (already possible) or with sidechains (soon).

Amount of basic payments TPS is meaningless measurement, everybody measures it differently and payments are just one type of messages that can be stored on Obyte DAG - there are many other possibilities that many blockchains can't do.

[Artifex]

Then what is the advantage of this method of sending transactions? The ordered grid allows fast communication to nodes across the network and gives a speed of 1000tps

There is no block producers (miners), everyone with a full node can add a transaction directly to DAG and you don't have to bribe miners to include your transaction to block. Transactions are linked to each other, no linked blocks and no reorgs of already confirmed transactions.

You can read more about it there https://medium.com/obyte/dag/home

for example, the TERA blockchain does not have a commission for sending transactions.

please tell me what bandwidth Obyte gives

Well, that's great that it doesn't have fees, but why would anybody value those coins if they are not needed for anything? Their value is only based on speculation? You sure it's not security token? Obyte Bytes are not security token, they have real utility, you need them to make transactions on Obyte.

I think you didn't read the link I posted or you didn't understand it because you only care about TPS. Obyte is not blockchain, so it doesn't have blockchain problems and it can do more TPS on mainnet that there is demand. Even more bandwidth can be done using payment channels (already possible) or with sidechains (soon).

Amount of basic payments TPS is meaningless measurement, everybody measures it differently and payments are just one type of messages that can be stored on Obyte DAG - there are many other possibilities that many blockchains can't do.

just remembering the predecessor of Obyte, namely Byteball, you can see that the latter had serious problems with bandwidth in the working network. I wonder how the situation is at the moment with Obyte. Therefore, I am interested in this question

I will not say here what is the value of TERA, since it is still a branch of another project. But everyone can get this information, it is freely available

[tarmo888]

just remembering the predecessor of Obyte, namely Byteball, you can see that the latter had serious problems with bandwidth in the working network. I wonder how the situation is at the moment with Obyte. Therefore, I am interested in this question

Obyte is Byteball, it was just a rebranded, rest of the project is same, just improved a lot since mainnet launch (works now even on IoT devices).
It didn't have and still doesn't have problems with bandwidth, it hardly ever reached even 1% of bandwidth that it could actually do.

The difference between then and now is that now Obyte has Autonomous Agents and thanks to that can do Payment Channels, which decreases the need to have small payments on mainnet even more and it even makes these streaming payments almost free (only paying fees for opening/closing the channel).
https://github.com/byteball/aa-channels-lib

Not sure where do you get this bandwidth problem, do you mean the stress test that spammed mainnet in 2018 with hundreds of transactions that all got confirmed at once or you mean the incorrectly done DAGbench test with IOTA and Nano that couldn't even get 1TPS out of Obyte because they were using light obyte.js library for web?

[Fallenkeith75]

just remembering the predecessor of Obyte, namely Byteball, you can see that the latter had serious problems with bandwidth in the working network. I wonder how the situation is at the moment with Obyte. Therefore, I am interested in this question

Obyte is Byteball, it was just a rebranded, rest of the project is same, just improved a lot since mainnet launch (works now even on IoT devices).
It didn't have and still doesn't have problems with bandwidth, it hardly ever reached even 1% of bandwidth that it could actually do.

The difference between then and now is that now Obyte has Autonomous Agents and thanks to that can do Payment Channels, which decreases the need to have small payments on mainnet even more and it even makes these streaming payments almost free (only paying fees for opening/closing the channel).
https://github.com/byteball/aa-channels-lib

Not sure where do you get this bandwidth problem, do you mean the stress test that spammed mainnet in 2018 with hundreds of transactions that all got confirmed at once or you mean the incorrectly done DAGbench test with IOTA and Nano that couldn't even get 1TPS out of Obyte because they were using light obyte.js library for web?

Aha, so that's what happened to Byteball. Byteball / Obyte is a pretty old and good project. I hope the developers keep on working on the project into the future.

[tarmo888]

just remembering the predecessor of Obyte, namely Byteball, you can see that the latter had serious problems with bandwidth in the working network. I wonder how the situation is at the moment with Obyte. Therefore, I am interested in this question

Obyte is Byteball, it was just a rebranded, rest of the project is same, just improved a lot since mainnet launch (works now even on IoT devices).
It didn't have and still doesn't have problems with bandwidth, it hardly ever reached even 1% of bandwidth that it could actually do.

The difference between then and now is that now Obyte has Autonomous Agents and thanks to that can do Payment Channels, which decreases the need to have small payments on mainnet even more and it even makes these streaming payments almost free (only paying fees for opening/closing the channel).
https://github.com/byteball/aa-channels-lib

Not sure where do you get this bandwidth problem, do you mean the stress test that spammed mainnet in 2018 with hundreds of transactions that all got confirmed at once or you mean the incorrectly done DAGbench test with IOTA and Nano that couldn't even get 1TPS out of Obyte because they were using light obyte.js library for web?

Aha, so that's what happened to Byteball. Byteball / Obyte is a pretty old and good project. I hope the developers keep on working on the project into the future.

https://medium.com/obyte/byteball-rebrand-the-next-step-to-real-world-adoption-6a0a924390de

[tonych]

We launched a totally new kind of stablecoins - bonded stablecoins.

Unlike the predecessors, such as DAI, there is no overcollateralization, no liquidations, no insolvency risk.

The design is based on bonding curves. It is the first time bonding curves are used for creating stablecoins.

Along with stablecoins, there are two other tokens:
- interest token (a stable+ coin) that earns interest on top of stable value;
- growth token whose price grows as more interest tokens are issued.

We launched 3 sets of coins pegged to 3 assets but anyone can easily create more.

USD-pegged:
OUSD - a stablecoin pegged to 1 USD;
IUSD - a stable+ coin that earns 16% interest;
GRD - growth token which grows with the amount of IUSD issued.

BTC-pegged:
OBIT - a stablecoin pegged to 1 BTC;
IBIT - a stable+ coin that earns 11% interest in BTC;
GRB - growth token which grows with the amount of IBIT issued.

Gold-pegged:
OAU - a stablecoin pegged to 1 ounce of gold;
IAU - a stable+ coin that earns 8% interest in gold;
GRAU - growth token which grows with the amount of IAU issued.

Trade and learn more: https://ostable.org/

Introductory article (very long and has a lot of math): https://medium.com/obyte/using-multi-dimensional-bonding-curves-to-create-stablecoins-81e857b4355c

[tarmo888]

I'm a big fan of Obyte, follow the development from the very beginning but only yesterday learned of both ostable and odex services. Why so bad ads? At least both deserves separate threads here on bitcointalk. Stablecoins is a hot topic nowadays. Regarding odex, would be nice to have  the option to become the liquidity provider for this DEX, the option similar to that one realized in smart contracts of Uiniswap. Anything in Obyte  development to indicate as to whether it makes steps in this direction?

Bonded Coins on https://ostable.org/ was just released yesterday, so you couldn't know about before because it was just released, that domain was previously used for Discount Stablecoins, which is now moved there https://discount.ostable.org/

Anybody can add liquidity to https://odex.ooo/ or https://oswap.io/ already today.

IMO, article with long  math is good for tech savvy guys but ordinary ppl need simple words sounded on all media including youtube channels.

The content on https://ostable.org/ is made for ordinary people, the blog post is more like white-paper.

And finally the last questions. If buy IUSD on ostable.org where my stablecoins will be holding? In Obyte wallets or where? How to claim the interest earned? Definitely a good and easy to understand guide is needed.

If you buy GRD and IUSD from there https://ostable.org/trade/26XAPPPTTYRIOSYNCUV3NS2H57X5LZLJ#buy or just IUSD from there https://ostable.org/buy then the AA (or smart-contract in Ethereum world) will send them to your wallet. If you want to make them earn interest, you need to deposit them back to AA via Deposits tab.
If you are buying GRD and IUSD then there is also option "Immediately convert to stable token OUSD", which will automatically deposit the IUSD for you and give GRD and OUSD instead.

[tonych]

If you want to make them earn interest, you need to deposit them back to AA via Deposits tab.

That's only if you want to have OUSD and earn interest in OUSD - the truly stable token that is always 1 USD and doesn't accrue interest.

Another option is just holding IUSD. Interest is baked-in in it its price, which grows 16% p.a.

[tarmo888]

If you want to make them earn interest, you need to deposit them back to AA via Deposits tab.

That's only if you want to have OUSD and earn interest in OUSD - the truly stable token that is always 1 USD and doesn't accrue interest.

Another option is just holding IUSD. Interest is baked-in in it its price, which grows 16% p.a.

Assuming that IUSD has liquidity to be traded at fair value. Why would anybody want OUSD, if they could use IUSD alone?