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Author Topic: MC2: A cryptocurrency based on a hybrid PoW/PoS system  (Read 194365 times)
luffy
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May 07, 2013, 05:23:07 PM
 #401

i wish the serious long lived coins to be handled differenlty by owners, not like a gambling card (coin)
there are a whole lot out there for gambling Wink
i believe tacotime will create something great not only to get easy and quick money!
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spoid
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May 07, 2013, 06:12:54 PM
 #402

doesn't remind me of a swastika, just a double scythe / death / reaper Cheesy

with great beard comes great liver. Reputation Thread: https://bitcointalk.org/index.php?topic=195803.0
jimhsu
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May 07, 2013, 07:02:02 PM
 #403





Tweaks to line thickness?

Another idea:


Dans les champs de l'observation le hasard ne favorise que les esprits préparé
FatMagic
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May 07, 2013, 07:18:33 PM
 #404





Tweaks to line thickness?

Another idea:



Looks like an excellent start - like where it's going. Bring up the line thickness like you mentioned (on all designs) and lets see it.

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May 07, 2013, 08:02:06 PM
Last edit: May 08, 2013, 03:14:52 AM by tacotime
 #405

Quote
Fault tolerance (it's not guaranteed that you will find exactly the same hash) and because if you reject blocks with only one Nay vote you may not invalidate any block you'd like to with only 20%.  10% stake means half the blocks, etc.  You also don't want to invalidate blocks based one one or two MIA signatories, as with 3 signatories the chain still works fine.

You also add a very easy attack vector by unanimous voting requirement, as you only need to DDoS one node per block to control the chain.
No. If you have 20% of tickets, then you will have one or more votes on 1-0.8^5 = 67% of blocks. You can make 2/3 of blocks empty, but the other 1/3 will go through. That is money burning fail, not a credible DDOS. Perhaps you meant something else?

Invalidation of draws that lack unanimity increases PoW attack resistance. By a lot. I will show you the math if it helps. As a comprimise, how about 4 yay's or more, instead of 3 or more? That would still help.

Alternatively, You can also strengthen the system by increasing the number of voters. Say 6 out of 10 instead of 3 out of 5. Again, I will show you the math if this helps. This would not be my first choice, but I think it would be fine.

Anyways, these are still parameter choices. Easily  forked. It is still the core algorithm that matters.  

I'm still not sure of your argument.  You can simulate a blockchain with this stakeholder signing agreement (and the assumption that 100% of stakeholders will vote) in the following python program:
Code:
import math, os, random

random.seed("wefkw34DfsQ3A75")

stake_percent = raw_input("Enter stake percent of attacker (0.0000-1.0000): ")
blocks = raw_input("Enter number of blocks for simulation: ")
stakeholder_pool = raw_input("Enter number of random stakeholders: ")
stake_requirement = raw_input("Enter stake requirement to invalidate block: ")

blocks_passed = 0
blocks_invalidated = 0

print("Calculating...")

for i in range(int(blocks)):
    vote_sum = 0 # The total number of attacker votes
    for j in range(int(stakeholder_pool)): # Run loop for all stakeholder tickets
        if float(stake_percent) > random.random(): # Calculate whether or not a ticket has been afforded to a malicious or non-malicious stakeholder
            vote_sum += 1 # If it has been given to an attacker, add +1 attacker votes towards invalidating the block
    if vote_sum < int(stake_requirement): # If we have don't enough attacker votes...
        blocks_passed += 1 # The block passes through the blockchain as valid
    else:
        blocks_invalidated += 1 # The block is invalidated by the attacker

final_percent = float(blocks_invalidated) / (float(blocks_passed) + float(blocks_invalidated))

print("Blocks passed: " + str(blocks_passed))
print("Blocks invalidated: " + str(blocks_invalidated))
print("Percentage of blocks invalidated: " + str(final_percent))

Now, if we run it for the round of 5 scenario you described with unanimous voting required,
Code:
Enter stake percent of attacker (0.0000-1.0000): 0.2000
Enter number of blocks for simulation: 100000
Enter number of random stakeholders: 5
Enter stake requirement to invalidate block: 1
Calculating...
Blocks passed: 32712
Blocks invalidated: 67288
Percentage of blocks invalidated: 0.67288

With majority voting required to invalidate:
Code:
Enter stake percent of attacker (0.0000-1.0000): 0.2000
Enter number of blocks for simulation: 100000
Enter number of random stakeholders: 5
Enter stake requirement to invalidate block: 3
Calculating...
Blocks passed: 94160
Blocks invalidated: 5840
Percentage of blocks invalidated: 0.0584

Now the attacker succeeds only 5.8% of the time.

What about if the stakeholder has 51% stake?
Code:
Enter stake percent of attacker (0.0000-1.0000): 0.5100
Enter number of blocks for simulation: 100000
Enter number of random stakeholders: 5
Enter stake requirement to invalidate block: 1
Calculating...
Blocks passed: 2855
Blocks invalidated: 97145
Percentage of blocks invalidated: 0.97145

Code:
Enter stake percent of attacker (0.0000-1.0000): 0.5100
Enter number of blocks for simulation: 100000
Enter number of random stakeholders: 5
Enter stake requirement to invalidate block: 3
Calculating...
Blocks passed: 47981
Blocks invalidated: 52019
Percentage of blocks invalidated: 0.52019

As expected, the malicious stakeholder gets about 51% (0.52019) in the scenario of a 3 of 5 requirement, but in a 1 of 5 requirement, the stakeholder now has 97% control of the blockchain.  It get worse quickly with increasing malicious stakeholder wealth with the unanimous system; at 30% we see 83% control of the chain, and at 40% we see 92% control of the chain.

This is a totally valid attack vector to consider, because it makes stakeholder-mining pool collusion extremely likely.  The mining pool uses the stakeholder to invalidate the blocks of all competing PoW miners on the network, gives a fraction of their earning to the stakeholder, and then themselves now gets 100% of the network income as opposed to only a fraction before.  Miners, unable to get any coins, drop off the network, difficulty goes down, and the malicious pool now gets even more coins.  The malicious pool and stakeholder wins, everyone else loses, and the system is effectively centralized.

Code:
XMR: 44GBHzv6ZyQdJkjqZje6KLZ3xSyN1hBSFAnLP6EAqJtCRVzMzZmeXTC2AHKDS9aEDTRKmo6a6o9r9j86pYfhCWDkKjbtcns
jimhsu
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May 07, 2013, 09:21:19 PM
 #406

Img and 32px icons:









Incorporating both ideas (the resemblance to a certain symbol of finance is intentional):




Dans les champs de l'observation le hasard ne favorise que les esprits préparé
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May 07, 2013, 09:28:03 PM
 #407

Do we have a qt for the NTC yet?  When is this going to be released?
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May 07, 2013, 09:36:19 PM
 #408

any ETA on the coin (at least estimate?)
saigo
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May 07, 2013, 10:16:38 PM
Last edit: May 07, 2013, 10:39:45 PM by saigo
 #409

Reply to post 415

looks good but the black background too heavy I think, how about a white background, with the N and C gold and silver, try it with either letter either colour to see which is better, maybe the N should be gold though.

Saigō Takamori : ( 1828 – 1877) was one of the most influential samurai in Japanese history. He has been dubbed the last true samurai.
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May 07, 2013, 10:19:41 PM
 #410



Bump ...  Grin
3Dfilament
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May 07, 2013, 10:29:16 PM
 #411

Img and 32px icons:

Incorporating both ideas (the resemblance to a certain symbol of finance is intentional):





I like where it is going, the rounded sides of the "N", but it might be best to avoid any resemblance to the bankster's symbols, although it is certainly worthy of exploration ...
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May 07, 2013, 10:39:27 PM
 #412

Looks promising. Can't wait 'til she's baked and ready for consumption.
FatMagic
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May 08, 2013, 01:20:23 AM
 #413

Img and 32px icons:

Incorporating both ideas (the resemblance to a certain symbol of finance is intentional):





I like where it is going, the rounded sides of the "N", but it might be best to avoid any resemblance to the bankster's symbols, although it is certainly worthy of exploration ...

I like this one the best as well. This has promise.

FreeBit
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May 08, 2013, 01:30:17 AM
 #414







Heil Dir, NaziCoin ...







Heil Dir, NaziEuro ...

This were my first thoughts. But - I'am totally german - I appreciate the irony and could live with that  Wink ...
tacotime
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May 08, 2013, 01:53:19 AM
 #415

Forum has launched

http://platinumdigitalreserve.com/forum/

Registration will open soon Open

Dedicated domain name also coming soon

Code:
XMR: 44GBHzv6ZyQdJkjqZje6KLZ3xSyN1hBSFAnLP6EAqJtCRVzMzZmeXTC2AHKDS9aEDTRKmo6a6o9r9j86pYfhCWDkKjbtcns
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May 08, 2013, 02:34:41 AM
 #416

http://i.imgur.com/Vd0l7mx.png

More like this? Just a concept


This is actually pretty good, I like it.
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May 08, 2013, 02:35:54 AM
 #417

Why is there no taco coin?

redream
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May 08, 2013, 03:11:28 AM
 #418

How about something like this for the logo? Open to any suggestions.

http://i.imgur.com/C58u6jN.png
Joerii
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May 08, 2013, 03:19:55 AM
 #419

How about something like this for the logo? Open to any suggestions.



Beautiful ! I also really like the other one eventhough, yes, it does have a faint resemblance of a swastika.

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May 08, 2013, 03:41:57 AM
 #420

How about something like this for the logo? Open to any suggestions.



Navy blue "N", bitcoin colored gradient stripes. "color coins" are an important mechanical property ... implementation of Netcoin.
Litecoin colored background, silver, and copper edge.
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