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Author Topic: [ANN][PRE-ICO] Graft - credit card and crypto payment processing network  (Read 9590 times)
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November 23, 2017, 05:54:34 PM
 #201

Introducing Superstake: Important Enhancement of Graft Network Protocol

If you have read Graft white paper, you should remember that in Graft Network only full supernode is allowed to perform real time authorizations (instant approvals) which are issued by an authorization sample – a group of full supernodes that are selected by special algorithm. The main eligibility criteria for becoming a full supernode are combined PoW (Proof of Work) and PoS (Proof of Stake): the full supernode must have both a recently mined block and a stake wallet with a minimum balance of 500 GRF.

With that said, only full supernodes – authorization sample members receive transaction fees, while mining nodes receive block rewards only. But every mined block opens the door for the mining node to become a full supernode and earn even more on real time authorization and service broker hosting.

At the very beginning, right after the mainnet launch, the mining can be done using regular CPU. However, once miners start connecting their GPU cards and rigs, the hashrate will go up. We realize that at some point, sooner or letter, the miners will start consolidating into mining pools due to the raising hashrate. Such consolidation will reduce the overall number of “unique” mining supernodes, which may affect the number of supernode candidates that are eligible to become a full supernode.

In order to maintain the combined PoW/PoS scheme relevant while keeping up with constantly rising hashrate, we introduce superstake – a mechanism which allows a single mining supernode associated with mining pool to be linked to more than one stake wallet. Thus, a single mining wallet can be linked to multiple stake wallets, which allows a single miner to maintain multiple full supernodes, which will increase an income from transaction fees. However, only up to 3 full supernodes linked to the same mining wallet can participate in the same authorization sample. Also, the stake for extra full supernodes added to the same miner is doubled in order to compensate for the fact that a single miner controls a larger piece of the network (and receives extra portions of transaction fees).

The superstake approach does not change the existing requirement to have at least 500 GRF stake plus recently mined block in order to become a full supernode. However, the second full supernode connected to the same miner will increase the required stake amount to 1000 GRF each. The three supernodes will require a 2,000 GRF stake per each “sister” supernode, etc. Although there is no limit for a number of superstake supernodes, only up to three “sister” supernodes can participate in a single authorization sample. The superstake supernodes can be also used for hosting service brokers that cannot be hosted together with real time authorization for any reason (for example, elevated security or privacy requirements).

Original blog post: https://www.graft.network/2017/11/23/introducing-superstake-important-enhancement-of-graft-network-protocol/

GRAFT ║║║ Decentralized Universal Payment Processor ║║║ GRAFT
ANNOUNCEMENT THREAD▬║║║▬ICO STARTS ON JAN 18, 2018
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November 23, 2017, 07:56:32 PM
 #202

Hi,

May I suggest you to add a higher resolution ANN image in OP? The current image (http://i.imgur.com/mgZbhUl.png) is very blurred on big screen.
It's good that you have text version under the image, but the user must scroll to find it.





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▬▬▬ANN▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬WP▬▬▬
.CHALLENGES ON SMART CONTRACTS.
▬▬▬▬▬▬▬▬ICO STARTS 7th DEC, 2017▬▬▬▬▬▬▬▬







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November 23, 2017, 11:51:50 PM
 #203

Introducing Superstake: Important Enhancement of Graft Network Protocol

Original blog post: https://www.graft.network/2017/11/23/introducing-superstake-important-enhancement-of-graft-network-protocol/
I’m not sure I fully understand all of this.  So basically, you need 500 graft to do anything?  When does this all go live? 

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November 24, 2017, 11:04:10 AM
 #204

Introducing Superstake: Important Enhancement of Graft Network Protocol

Original blog post: https://www.graft.network/2017/11/23/introducing-superstake-important-enhancement-of-graft-network-protocol/

If I run a supernode (miner and full node for service brokers), my miner cannot join mining pool? Instead I need superstake node to be able to join the mining pool and be a valid supernode?



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November 24, 2017, 05:01:41 PM
 #205

Hi,

May I suggest you to add a higher resolution ANN image in OP? The current image (http://i.imgur.com/mgZbhUl.png) is very blurred on big screen.
It's good that you have text version under the image, but the user must scroll to find it.

Thank you for your feedback, we are already working on the update!

GRAFT ║║║ Decentralized Universal Payment Processor ║║║ GRAFT
ANNOUNCEMENT THREAD▬║║║▬ICO STARTS ON JAN 18, 2018
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November 24, 2017, 05:03:49 PM
 #206

Introducing Superstake: Important Enhancement of Graft Network Protocol

Original blog post: https://www.graft.network/2017/11/23/introducing-superstake-important-enhancement-of-graft-network-protocol/
I’m not sure I fully understand all of this.  So basically, you need 500 graft to do anything?  When does this all go live? 

500 GRF is required to run the full supernode which can participate in real time authorization process and earn transaction fees. Goes live in January.

GRAFT ║║║ Decentralized Universal Payment Processor ║║║ GRAFT
ANNOUNCEMENT THREAD▬║║║▬ICO STARTS ON JAN 18, 2018
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November 24, 2017, 05:10:08 PM
 #207

Introducing Superstake: Important Enhancement of Graft Network Protocol

Original blog post: https://www.graft.network/2017/11/23/introducing-superstake-important-enhancement-of-graft-network-protocol/

If I run a supernode (miner and full node for service brokers), my miner cannot join mining pool? Instead I need superstake node to be able to join the mining pool and be a valid supernode?

Correct - you must run a solo miner in order to run your own full supernode.
If you join a pool, you want be able to own a full supernode because you don’t own the pool wallet. The pool owners will take care of superstake. I guess they will be sharing the earnings from transaction fees with all pool participants.

GRAFT ║║║ Decentralized Universal Payment Processor ║║║ GRAFT
ANNOUNCEMENT THREAD▬║║║▬ICO STARTS ON JAN 18, 2018
▬▬▬▬▬▮ TwitterFacebookTelegramReddit ▮▬▬▬▬▬
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November 25, 2017, 01:27:11 AM
 #208

Introducing Superstake: Important Enhancement of Graft Network Protocol

Original blog post: https://www.graft.network/2017/11/23/introducing-superstake-important-enhancement-of-graft-network-protocol/

If I run a supernode (miner and full node for service brokers), my miner cannot join mining pool? Instead I need superstake node to be able to join the mining pool and be a valid supernode?

Correct - you must run a solo miner in order to run your own full supernode.
If you join a pool, you want be able to own a full supernode because you don’t own the pool wallet. The pool owners will take care of superstake. I guess they will be sharing the earnings from transaction fees with all pool participants.
So, a supernode is different from a masternode in that mining is involved along with locking up coins?

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November 28, 2017, 08:20:16 PM
 #209

It seems there is a push back on the project as to the start date of the ICO but what I am surprised at is that there is no discussion about the the importance of this project and the gap that it seeks to fill in this era of several project coming out and competing for space and attention. Rather what I am seeing are only something related to mining grf or running the node which to me should be a discussion after the ICO. I might be wrong though.



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November 29, 2017, 03:23:00 AM
 #210

It seems there is a push back on the project as to the start date of the ICO but what I am surprised at is that there is no discussion about the the importance of this project and the gap that it seeks to fill in this era of several project coming out and competing for space and attention. Rather what I am seeing are only something related to mining grf or running the node which to me should be a discussion after the ICO. I might be wrong though.
We know the project is important which why we want to mine and run nodes.

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November 30, 2017, 02:50:46 AM
 #211

is there any new ico ANN thread? or this thread preico ANN thread is going to be changed to ico ANN thread?
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December 01, 2017, 04:54:45 PM
 #212

Current Graft bounty campaigns:
Signature campaign: https://bitcointalk.org/index.php?topic=2443267.0
twitter campaign: https://bitcointalk.org/index.php?topic=2447266.0

GRAFT ║║║ Decentralized Universal Payment Processor ║║║ GRAFT
ANNOUNCEMENT THREAD▬║║║▬ICO STARTS ON JAN 18, 2018
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December 01, 2017, 04:55:40 PM
 #213

is there any new ico ANN thread? or this thread preico ANN thread is going to be changed to ico ANN thread?

We keep the same thread for now. We will going to update the headers soon. If we replace the thread it will be announced here.

GRAFT ║║║ Decentralized Universal Payment Processor ║║║ GRAFT
ANNOUNCEMENT THREAD▬║║║▬ICO STARTS ON JAN 18, 2018
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December 01, 2017, 04:58:56 PM
 #214

Introducing Superstake: Important Enhancement of Graft Network Protocol

Original blog post: https://www.graft.network/2017/11/23/introducing-superstake-important-enhancement-of-graft-network-protocol/

If I run a supernode (miner and full node for service brokers), my miner cannot join mining pool? Instead I need superstake node to be able to join the mining pool and be a valid supernode?

Correct - you must run a solo miner in order to run your own full supernode.
If you join a pool, you want be able to own a full supernode because you don’t own the pool wallet. The pool owners will take care of superstake. I guess they will be sharing the earnings from transaction fees with all pool participants.
So, a supernode is different from a masternode in that mining is involved along with locking up coins?

I guess you are comparing to Dash masternode? Yes, combined PoW/PoS is one of the main differences. The authorization sample selection algorithm is different as well, and other technical solutions.

GRAFT ║║║ Decentralized Universal Payment Processor ║║║ GRAFT
ANNOUNCEMENT THREAD▬║║║▬ICO STARTS ON JAN 18, 2018
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December 01, 2017, 05:24:52 PM
 #215

I really like to see this project. Because the Graft project can involve all elements of society without choosing. With this project, it will facilitate the transaction between buyer and buyer. As we know, we also want something easy. Is not that a good project?

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December 02, 2017, 01:59:36 PM
 #216

It seems there is a push back on the project as to the start date of the ICO but what I am surprised at is that there is no discussion about the the importance of this project and the gap that it seeks to fill in this era of several project coming out and competing for space and attention. Rather what I am seeing are only something related to mining grf or running the node which to me should be a discussion after the ICO. I might be wrong though.

I m not sure why you would say this , is become someone mention me to me about the mining .. and i look into it and only i know the great game changer for it was because of the the whole mining and node function to make it possible for what you re trying to do , cause to do instant transfer with all credit card and crypto and all those exchange and additional of privacy which sound like a dream but eventually with the concept of your function of mining it make sense on how fast it going to do it and the link btw the proxy node , miner node , supernode and the stake on it .

By reading it the only problem i dont understand 1) if it host by pool as a miner pool and we host the supernode fucntion and share the transaction and service fee then it will defeat it purpose and eventually alot full supernode(staker) will give up 2) if i solo mine to fullfill my stake and to fulfill the requirement of fullsupernode will fail if the pool get too big cause eventually 3-5 day barely get a block and our supernode only verify to do it once for every block we did .

So i guess the transaction fee and service fee even distribute 100% will still see it fail cause without miner they cant get this fee , so only thing i can think of right now is the block reward is been reduces (to a point miner dont feel purely mining it is very profitable ) or block reward is to share among node (that make every miner who want to get more is to stake and host a supernode) or everystaker who are interested to get some mining hashes.. with anything getting on a pool it dont serve the unique POW/POS => supernode system


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December 02, 2017, 07:38:42 PM
 #217

I also wanna suggest an ANN thread for btt users, we are interested in updates and news related to the project. Do you have some telegram channel available?

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December 04, 2017, 03:58:02 AM
 #218

I also wanna suggest an ANN thread for btt users, we are interested in updates and news related to the project. Do you have some telegram channel available?

for discussion and engagement with the team, join the Telegram group https://t.me/GraftNet
for official announcement, check out the Telegram Channel https://t.me/graftnetofficial



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December 07, 2017, 10:57:32 PM
 #219

GRAFT NETWORK MVP DEVELOPMENT STATUS UPDATE
https://www.graft.network/2017/12/07/mvp-development-status-update-2/

GRAFT ║║║ Decentralized Universal Payment Processor ║║║ GRAFT
ANNOUNCEMENT THREAD▬║║║▬ICO STARTS ON JAN 18, 2018
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December 09, 2017, 06:47:37 AM
 #220

I commend you for this.  When mining is live, not on testnet, will it be possible to mine only on CPU.  If one doesn't have any GPU's to mine with, will a laptop suffice? 

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