Announcing the PoC Consortium Stage 2: The Burst Dymaxion

[davidcrumble2]

I think the community should put some work too in reviewing and helping to spread the word

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[pinkflower]

Guys! We need system like masternodes with rewards!

hi Mr_Burst .
can you explain better?
what do you mean with "We need system like masternodes with rewards!"
more reward for miners or introduce a POS reward?

thank you

No idea what was meant by the proposer  but the ideas from the masternode world, that could be considered are:

- additional rewards for the nodes-tangle initiators
- budget system, but with the miners voting

all those would be paid from the miners rewards, like it's done in the masternode networks

I would be open to that idea only if the master node owners are open to revealing their identities in public. The master node system can be attacked by a user or a group of users by running multiple nodes themselves and controlling more than 50% of them.

Another take on this is to have master node witnesses voted by the community.

[Yefet]

No idea what was meant by the proposer  but the ideas from the masternode world, that could be considered are:

- additional rewards for the nodes-tangle initiators
- budget system, but with the miners voting

all those would be paid from the miners rewards, like it's done in the masternode networks

I would be open to that idea only if the master node owners are open to revealing their identities in public. The master node system can be attacked by a user or a group of users by running multiple nodes themselves and controlling more than 50% of them.

Another take on this is to have master node witnesses voted by the community.

Dymaxion is another take on scaling and doesn't need real masternodes for that.
Talking about tangle initiators, I see no points in voting for them (in Bitcoin network nobody votes for the LN nodes  )
they're not block-signers - so they don't endanger the BURST blockchain.

[pinkflower]

No idea what was meant by the proposer  but the ideas from the masternode world, that could be considered are:

- additional rewards for the nodes-tangle initiators
- budget system, but with the miners voting

all those would be paid from the miners rewards, like it's done in the masternode networks

I would be open to that idea only if the master node owners are open to revealing their identities in public. The master node system can be attacked by a user or a group of users by running multiple nodes themselves and controlling more than 50% of them.

Another take on this is to have master node witnesses voted by the community.

Dymaxion is another take on scaling and doesn't need real masternodes for that.
Talking about tangle initiators, I see no points in voting for them (in Bitcoin network nobody votes for the LN nodes  )
they're not block-signers - so they don't endanger the BURST blockchain.

I know. I am the biggest supporter of Burst in the forum. Although rico666 and the rest in /r/burstcoin doubts it because I ask all the hard questions.

But on masternodes, I was only saying that it would be better if the owners of the nodes have their identities published to try to keep it away from a 51% attack.

[cesmak]

Why Masternode ? This coin is so wide mined with a lot of users, the technology behind this is ok, i really don't see a benefit to have in this coin masternodes that, at the end, lead to centralization.

[Yefet]

I know. I am the biggest supporter of Burst in the forum. Although rico666 and the rest in /r/burstcoin doubts it because I ask all the hard questions.

But on masternodes, I was only saying that it would be better if the owners of the nodes have their identities published to try to keep it away from a 51% attack.

- There're no masternodes in BURST network and there won't be any in the foreseen future 
- BURST is a mineable coin, so only miners can launch 50+% attack.

- strict KYC rules would make the blockchain even more centralised as you should establish an authorization centre to check and verify the data.
Without such an authority all that KYC would have no sense at all, as it's easily circumvented by the users.

[pinkflower]

I know. I am the biggest supporter of Burst in the forum. Although rico666 and the rest in /r/burstcoin doubts it because I ask all the hard questions.

But on masternodes, I was only saying that it would be better if the owners of the nodes have their identities published to try to keep it away from a 51% attack.

I know this. I was only making another discussion and argument because of Mr_Burst's idiotic comment.

On the idea of masternodes, holders or a group of holders owning 51% of them can attack the cryptocurrency or control it. Look for a coin with masternodes implemented and see if it has a premine or instamine. I can already think of one lol.

[Mr_Burst]

When will MasterNodes be? I'm waiting for MasterNodes!!

 

[Bombardier]

stop trolling

[pinkflower]

Hi rico666, I have another question that begs an answer.

Some people in the community are maybe under the impression that the PoCC has contacted the exchanges about Burst's pending hard fork. If you already did, then did the exchanges express support for the hard fork and will we be expecting an announcement from them soon? Just double checking lol.

With that said, I saw Bittrex's announcements and support on Syscoin's blockchain 3.0 hard fork and Tron's mainnet launch coin conversion. I am assuming that they will do an announcement about Burst if they support the hard fork.

[rico666]

Hi rico666, I have another question that begs an answer.

Some people in the community are maybe under the impression that the PoCC has contacted the exchanges about Burst's pending hard fork. If you already did, then did the exchanges express support for the hard fork and will we be expecting an announcement from them soon? Just double checking lol.

With that said, I saw Bittrex's announcements and support on Syscoin's blockchain 3.0 hard fork and Tron's mainnet launch coin conversion. I am assuming that they will do an announcement about Burst if they support the hard fork.

All relevant exchanges (Polo, Bittrex/Upbit and others) will support the "hard fork".
Which technically is a hard fork, but practically an upgrade. As others already mentioned, there will be no 2 new coins.

This "Pre-Dymaxion HF" will boost Tx capacity quite significantly (4-40 times depending on Tx types)
without putting more strain on blockchain space.

E.g. a 40-fold Tx-increase will put only a 3-fold increase on block size (~178KB versus ~49KB)
178KB for 9600 transactions is pretty nice IMHO.

-> https://www.burstcoin.ist/2018/04/30/weekly-burst-report-34/

World Domination. Fast.

[pinkflower]

That is all we needed to know. I am also making sure that the greater altcoin community is aware of Burst's development. I make sure that I post all the weekly updates in my thread.

https://bitcointalk.org/index.php?topic=2231841.0

Ty to you and the PoCC, Burst is still alive and its having a brighter future.

[pinkflower]

Rico, what is your opinion on this blog by Siacoin's lead developer? Do you think it is possible that some solo miners in Burst are exploiting the time memory trade off "attack" by using ASIC miners on Burst?

The State of Cryptocurrency Mining

Maybe if after the hard fork to PoC2, we see a significant reduction in total mining capacity, it would be proof that Burst was exploited, no?

[rico666]

Rico, what is your opinion on this blog by Siacoin's lead developer? Do you think it is possible that some solo miners in Burst are exploiting the time memory trade off "attack" by using ASIC miners on Burst?

The State of Cryptocurrency Mining

Maybe if after the hard fork to PoC2, we see a significant reduction in total mining capacity, it would be proof that Burst was exploited, no?

We analyzed the won blocks in the high scoop range for any suspicious patterns like being won by certain individuals and have found nothing.
If someone is using PoW to time-memory trade, he's either hiding it very well or not existing.

I don't think anybody is using SHABAL ASICs for that, as the $1M upfront cost (minimum and only in case all went well very fast and on the 1st try) seems not economically viable given the current Burst MktCap.

[pinkflower]

Rico, what is your opinion on this blog by Siacoin's lead developer? Do you think it is possible that some solo miners in Burst are exploiting the time memory trade off "attack" by using ASIC miners on Burst?

The State of Cryptocurrency Mining

Maybe if after the hard fork to PoC2, we see a significant reduction in total mining capacity, it would be proof that Burst was exploited, no?

We analyzed the won blocks in the high scoop range for any suspicious patterns like being won by certain individuals and have found nothing.
If someone is using PoW to time-memory trade, he's either hiding it very well or not existing.

I don't think anybody is using SHABAL ASICs for that, as the $1M upfront cost (minimum and only in case all went well very fast and on the 1st try) seems not economically viable given the current Burst MktCap.

Good! I brought it up because I know someone who is as paranoid as me will sooner or later. But its nothing PoC2 cannot fix.

Having that said, maybe the next order of business is mitigating the possible grinding attacks on Proof of Capacity, or is that not a capable attack on Burst?

Ty for taking some time to reply to your fans lol.

[flysohigh.noshy]

This looks huge, I hope all the plans get implemented soon and BURST gets really popular as it should.

[pinkflower]

rico666, can you answer this question? Ty.

I find it hard to understand that mining with hard drives would be unprofitable just because there are lots of unused space. What the Chia FAQ didnt explore is that miners will only mine for a profit and mining farms is a natural result of this.

[Rowane]

I made my registration and I liked the platform , it seems very friendly and intuitive navigation. I will be following the next steps of the project

[Mr_Burst]

After the arrival of the FPGA, the mining at the GPU will die.
However, BURST will continue to live! It's great!

 

[_QuiBus_]

Rico, what is your opinion on this blog by Siacoin's lead developer? Do you think it is possible that some solo miners in Burst are exploiting the time memory trade off "attack" by using ASIC miners on Burst?

The State of Cryptocurrency Mining

Maybe if after the hard fork to PoC2, we see a significant reduction in total mining capacity, it would be proof that Burst was exploited, no?

We analyzed the won blocks in the high scoop range for any suspicious patterns like being won by certain individuals and have found nothing.
If someone is using PoW to time-memory trade, he's either hiding it very well or not existing.

I don't think anybody is using SHABAL ASICs for that, as the $1M upfront cost (minimum and only in case all went well very fast and on the 1st try) seems not economically viable given the current Burst MktCap.

Good! I brought it up because I know someone who is as paranoid as me will sooner or later. But its nothing PoC2 cannot fix.

Having that said, maybe the next order of business is mitigating the possible grinding attacks on Proof of Capacity, or is that not a capable attack on Burst?

Ty for taking some time to reply to your fans lol.

Grinding attacks is not possible on burst. This is because a wallet can rollback maximum of 1440 blocks and it must match current chain.