[ANN][AMTC] 🏺AmberTime💎🕰️: 1st 🎓Education🎓 + ✈️Travel✈️+ ⛓️Blockchain⛓️

[Lantern_NPT]

  , Thank you for the explanation. As far as i'm concerned, for ETH, the structure for its blockchain is embedded in a Merkel tree. By doing so, for each new block to be written into the chain, its hash value can be validated by POW algorithm in order for the chain to be consistent. I understand the definition of this POA, but i don't understand how such algorithm can be correlated with the hash value format where traditional blockchain were using, i.e. BTC and ETH. I guess for each of those chosen validator in POA algorithm, it will be entitled with a certain amount of mining power, otherwise, how could the blockchain be maintained? if no extra mining power is needed, then how could the validator maintain its writing status in the computing world (using some license or API), in perspective of cybersecurity?

What does it mean by the POA mechanism? How could it be used to secure the application in education and travel business?

Thank you Lantern_NPT for your question 🙋🙋

AmberTime will be a Consortium Chain - one difference from the public chain is that the owners / operators of the nodes will not be anonymous. 

The ecosystem itself however will be open to the public to participate and access.



PoA stands for "Proof-of-Authority" - a sort of word-play on the other mechanisms such as "Proof-of-Work" (PoW) and "Proof-of-Stake" (PoS).

Proof-of-Authority is the consensus mechanism in which the nodes validating blocks are the ones explicitly allowed to do so. PoA is a modified form of PoS where instead of stake with the monetary value, a validator’s identity performs the role of stake in the form of reputation. In this context, identity means the correspondence between a validator’s personal identification on the platform with officially issued documentation for the same person, organization or institution, to ascertain that a validator is exactly who it represents to be.   This is a way to preserve the staking concept, with scarcity and measurability of stake, while ensuring that all who place that stake value it similarly, regardless of other circumstances.

Even if one steals a license and somehow becomes a validator pretending to be someone else, the fact that staking is public will expose a nefarious actor. A single actor with a hacked authority does not have the capacity to overwhelm the network and revert all transactions. Therefore, requiring validators to have an approver public license makes identity impossible to conceal, while a concerned party can easily cross-verify identity in publicly available open domain.  With on-chain governance making it simple to oust a non-conforming validator, losing a validator’s role eligibility is public and published in the network. With their real names at stake, validators are unlikely to act nefariously to threaten their own social standing in the real world and virtual community of the blockchain network.



In AmberTime's context, this means that there will be "Authority" nodes within the chain are preregistered and verified entities, and each of them is an organization with a proud reputation to protect, such as universities, government agencies, law firms, businesses, travel agencies etc.

Each transaction in AmberTime would be signed by a randomly selected  and voted upon by set of Authority nodes.

Since the organization's reputation is at stake, the risk of a malicious signer is reduced to minimum, and in such an unlikely event, an erring signer would be voted out by the network automatically, and can only be reinstated manually by AmberTime after thorough investigation.



Hope this helps!



Added info: Known successful examples of PoA implementations are Kovan and Rinkeby, the two Ethereum testnets named after metro train stations, which were introduced as new blockchain based on Ethereum protocol with Proof of Authority consensus. Spam attack on the original Ropsten testnet was the reason to create a new public test network. Based on data gathered on both testnets, PoA Networks provides inexpensive consensus to secure the network. Users can run Ethereum programs on Kovan and Rinkeby and spend less money on transaction fees which also translates to the network's security will also be cheaper to maintain.

[ryjin1007]

do you have an telegram group OP?

[ambertime]

What stage is the project currently?

Hi BerryCoin!👋👋

We are currently on what we call our Angel Funding Round which ends April 29.  

See our website for more details - https://www.ambertime.org




From a road map standpoint:

🚦 🚦 Q1 2018 🚦 🚦
Initial announcement of plans

Q1 2018 - Q2 2018
Launch of website and token sale

Q2 2018 - Q4 2018 <--- ⚒️⚒️ We are here ⚒️⚒️
Development in TestNet

Q4 2018 - Q1 2019
Deployment in ProdNet

Q1 2019 - Q2 2019
Wallet release

🏁🏁 Q2 2019 🏁🏁
Service commencement
and advanced features release


Our dev team 👷👷👷👷 is already hard at work ⛏️⛏️⛏️⛏️ to deliver the first alpha / demo release which we hope to bring to bear by Q3 and a solid beta by Q4 2018.



Thank you for your support!!!

[ambertime]

, Thank you for the explanation. As far as i'm concerned, for ETH, the structure for its blockchain is embedded in a Merkel tree. By doing so, for each new block to be written into the chain, its hash value can be validated by POW algorithm in order for the chain to be consistent. I understand the definition of this POA, but i don't understand how such algorithm can be correlated with the hash value format where traditional blockchain were using, i.e. BTC and ETH. I guess for each of those chosen validator in POA algorithm, it will be entitled with a certain amount of mining power, otherwise, how could the blockchain be maintained? if no extra mining power is needed, then how could the validator maintain its writing status in the computing world (using some license or API), in perspective of cybersecurity?

In PoW, miners👷⛏️ obtain rights to write on the chain by doing work. In PoA, miners👷⛏️ are pre-authorized 🛂 and given rights.

The list of valid authorities in PoA are approved by the ambertime org.  Special permission to "mine" are only given to these authorities.  Since it is not open to all for mining, we  keep the mining difficulty very low that can essentially be or almost zero.  Each block hash value 🔗 is then included in the next block hash value 🔗 like in BTCitcoin PoW algorithm.

In BTCitcoin, this chain of blocks ⛓️ makes it difficult to do a "double spend" as more confirmations are made.  In our case, we will prevent authorities from mining blocks consecutively to prevent their ability to double spend.  There will be a required number of blocks written by other authorities which acts to validate the transaction before the same authority can write again.  


Hope this explanation makes it clearer 💎💎💎  

[ambertime]

do you have an telegram group OP?

Hello ryjin1007 👋👋

In lieu of the news surrounding telegram, at the moment we have decided to defer setting up a telegram group 👁️‍🗨️

We are continuously 👂 listening 👂 to our community and we hope to get more feedback what it wants as a medium to have a secure, free and open discussion 💬

Let us know what you think! 📣  

[Lantern_NPT]

sounds pretty neat. I'm ok with the security issues in respect of the POA algorithm. What about the data structure ? what would be the advantage of using blockchain technique vs using a database storage, i.e. a piece of record or notary ? If i'm one of the authorities to write data to the blockchain main network, when i need to send certain record to the user upon request, does the traditional data structure and DBMS still applicable or even more efficient in data sorting and accessing for the blockchain main network?  I remember that all data is stored in the blockchain main network if i'm correct. 

, Thank you for the explanation. As far as i'm concerned, for ETH, the structure for its blockchain is embedded in a Merkel tree. By doing so, for each new block to be written into the chain, its hash value can be validated by POW algorithm in order for the chain to be consistent. I understand the definition of this POA, but i don't understand how such algorithm can be correlated with the hash value format where traditional blockchain were using, i.e. BTC and ETH. I guess for each of those chosen validator in POA algorithm, it will be entitled with a certain amount of mining power, otherwise, how could the blockchain be maintained? if no extra mining power is needed, then how could the validator maintain its writing status in the computing world (using some license or API), in perspective of cybersecurity?

In PoW, miners👷⛏️ obtain rights to write on the chain by doing work. In PoA, miners👷⛏️ are pre-authorized 🛂 and given rights.

The list of valid authorities in PoA are approved by the ambertime org.  Special permission to "mine" are only given to these authorities.  Since it is not open to all for mining, we  keep the mining difficulty very low that can essentially be or almost zero.  Each block hash value 🔗 is then included in the next block hash value 🔗 like in BTCitcoin PoW algorithm.

In BTCitcoin, this chain of blocks ⛓️ makes it difficult to do a "double spend" as more confirmations are made.  In our case, we will prevent authorities from mining blocks consecutively to prevent their ability to double spend.  There will be a required number of blocks written by other authorities which acts to validate the transaction before the same authority can write again.  


Hope this explanation makes it clearer 💎💎💎  

[melanie19283]

I’ve read your project and read the comments of the people who care ‘bout the project. I find that I have the same thought as many people that comment on your project. It’s very interesting.
 Have a nice day for the project

[ambertime]

I’ve read your project and read the comments of the people who care ‘bout the project. I find that I have the same thought as many people that comment on your project. It’s very interesting.
 Have a nice day for the project

Thank you melanie19283 🙏🙏🙏

We need more supporters like yourself to bring our vision of open 👐 and border less 🌎 education 🏫 👨‍🎓  👩‍🎓 into reality!

[ambertime]

sounds pretty neat. I'm ok with the security issues in respect of the POA algorithm. What about the data structure ? what would be the advantage of using blockchain technique vs using a database storage, i.e. a piece of record or notary ? If i'm one of the authorities to write data to the blockchain main network, when i need to send certain record to the user upon request, does the traditional data structure and DBMS still applicable or even more efficient in data sorting and accessing for the blockchain main network?  I remember that all data is stored in the blockchain main network if i'm correct. 

Hey Lantern_NPT! 🏮🏮 

A defining characteristic of a blockchain is its decentralized nature and making use of the horizontal scaling principles as coping mechanisms for the increased need of resources to serve more users of the blockchain.  Having said this, today the most dominant blockchain consensus convention referred to us Proof of Work (PoW), have somewhat of a contradictory constraint: each node in the network must process each and every transaction that passes through the network. This is an also a classical trait of the decentralized nature of blockchain which implies that each and every node on the system processes each activity and keeps up a duplicate of the whole state of the network.

While a decentralized PoW consensus mechanism used by popular blockchain networks such as Bitcoin and Ethereum, offers some critical benefits, such as fault tolerance, a strong guarantee of security, political neutrality, and authenticity - it comes at the cost of scalability. The number of transactions the blockchain network can process will be unable to surpass that of a single node that is contributing to the network. In effect, the blockchain essentially becomes more inefficient as more nodes are added to its network which is supposed to increase the capability of the network overall but instead have the inverse effect because of the inter-node latency required to transmit and maintain a copy of the network’s current state in every node which logarithmic-ally increases in complexity with every additional node. 

To illustrate this further, we can make a comparison to a traditional database system to which the solution to scalability is to add more servers by scaling vertically or horizontally in order to manage handle more transactions. In the decentralized blockchain where every node needs to process and validate every transaction, it would require additional compute to every node for the network to get faster. Having no feasible way to coordinate or control over every publicly joined node which are owned by many numerous individuals of diverse interests and motivations in the network resulting in no direct mechanisms to scale vertically or horizontally.  In other words, as the size of the blockchain network increases, the requirements for storage, bandwidth, and compute power required by fully participating nodes in the network increases. At some point, it becomes unwieldy enough that it’s only feasible for a few high powered nodes to process a block of transactions leading to the risk of centralization in the network.  As a result, all public blockchain employing Proof of Work consensus protocols in such a decentralized manner make the compromise between transaction throughput and degree of centralization, choosing to sacrifice the speed of processing operation resulting in a degraded experience for users executing valid transactions in order to retain the benefits of a decentralized network. 

In order to scale, the blockchain protocol must work out a mechanism to control the number of participating nodes needed to validate each transaction, without losing the network’s trust that each transaction is valid.  This is where Proof-of-Stake (PoS) was developed to address this issue which Proof-of-Authority (PoA) was inspired from and used by AmberTime as the basis for consensus mechanism.

With regards to data structure, we envision to store only the raw data / meta data surrounding a certified transaction in the blockchain.  As an example, information found in a training certificate like name, course name, date completed, etc. are recorded in the blockchain to validate a person's credentials and potentially allow dynamic generation of an image forming an e-certificate for printing purposes. 



Good questions - lets keep the discussion going! 

[Lantern_NPT]

Dear Ambertime support,
I'm so glad for the ongoing discussion, which philosophically i can't agree more on the scalability issue. Technically, I'm so eager to see that your team can nail the whole project and come up with a product that we can enjoy. One of my friends even told me that blockchain is the future of big data storage. It's a vivid approach to thrust the value of information flow where traditionally, people either needs to pay or sacrifice some privacy to have a piece of critical information safely transferred and stored in time and space. Right now, i cannot imagine how ordinary people can benefit from this project. Many people don't have much knowledge over such visionary project. We need more brave and innovative people, that 1% open enough to understand, use and then influence more people to accept all those new notations and concepts. You guys have done a great job, but i'm hoping to see more achievement to come from you.
Will come up with more perspectives when i have time. Let's keep the rock rollling.

sounds pretty neat. I'm ok with the security issues in respect of the POA algorithm. What about the data structure ? what would be the advantage of using blockchain technique vs using a database storage, i.e. a piece of record or notary ? If i'm one of the authorities to write data to the blockchain main network, when i need to send certain record to the user upon request, does the traditional data structure and DBMS still applicable or even more efficient in data sorting and accessing for the blockchain main network?  I remember that all data is stored in the blockchain main network if i'm correct. 

Hey Lantern_NPT! 🏮🏮 

A defining characteristic of a blockchain is its decentralized nature and making use of the horizontal scaling principles as coping mechanisms for the increased need of resources to serve more users of the blockchain.  Having said this, today the most dominant blockchain consensus convention referred to us Proof of Work (PoW), have somewhat of a contradictory constraint: each node in the network must process each and every transaction that passes through the network. This is an also a classical trait of the decentralized nature of blockchain which implies that each and every node on the system processes each activity and keeps up a duplicate of the whole state of the network.

While a decentralized PoW consensus mechanism used by popular blockchain networks such as Bitcoin and Ethereum, offers some critical benefits, such as fault tolerance, a strong guarantee of security, political neutrality, and authenticity - it comes at the cost of scalability. The number of transactions the blockchain network can process will be unable to surpass that of a single node that is contributing to the network. In effect, the blockchain essentially becomes more inefficient as more nodes are added to its network which is supposed to increase the capability of the network overall but instead have the inverse effect because of the inter-node latency required to transmit and maintain a copy of the network’s current state in every node which logarithmic-ally increases in complexity with every additional node. 

To illustrate this further, we can make a comparison to a traditional database system to which the solution to scalability is to add more servers by scaling vertically or horizontally in order to manage handle more transactions. In the decentralized blockchain where every node needs to process and validate every transaction, it would require additional compute to every node for the network to get faster. Having no feasible way to coordinate or control over every publicly joined node which are owned by many numerous individuals of diverse interests and motivations in the network resulting in no direct mechanisms to scale vertically or horizontally.  In other words, as the size of the blockchain network increases, the requirements for storage, bandwidth, and compute power required by fully participating nodes in the network increases. At some point, it becomes unwieldy enough that it’s only feasible for a few high powered nodes to process a block of transactions leading to the risk of centralization in the network.  As a result, all public blockchain employing Proof of Work consensus protocols in such a decentralized manner make the compromise between transaction throughput and degree of centralization, choosing to sacrifice the speed of processing operation resulting in a degraded experience for users executing valid transactions in order to retain the benefits of a decentralized network. 

In order to scale, the blockchain protocol must work out a mechanism to control the number of participating nodes needed to validate each transaction, without losing the network’s trust that each transaction is valid.  This is where Proof-of-Stake (PoS) was developed to address this issue which Proof-of-Authority (PoA) was inspired from and used by AmberTime as the basis for consensus mechanism.

With regards to data structure, we envision to store only the raw data / meta data surrounding a certified transaction in the blockchain.  As an example, information found in a training certificate like name, course name, date completed, etc. are recorded in the blockchain to validate a person's credentials and potentially allow dynamic generation of an image forming an e-certificate for printing purposes. 



Good questions - lets keep the discussion going! 

[automatical111]

I would like to know more about the team who are behind this because no profile links are available to get more details.

[Kirata]

the other information about the project, can be found on the website? As for example the amount of total project tokens, roadmap?

[ambertime]

I would like to know more about the team who are behind this because no profile links are available to get more details.

Greetings automatical111!    👋👋

Check out the team's full profile in our website

https://ambertime.org/#team

We've got a strong team with both diverse and specialized background, let us know what you think 💡💡💡

[ambertime]

the other information about the project, can be found on the website? As for example the amount of total project tokens, roadmap?

Hello Kirata!  👋👋

Thank you for taking interest in our project 

Indeed you can find more information from our website: https://www.ambertime.org


To answer some of your queries...


(1) Total token supply is set at 2 Billion AMTC tokens.

For more details on token supply check out our token page:  https://ambertime.org/tokens.php



(2) This is our current roadmap




🚦 🚦 Q1 2018 🚦 🚦
Initial announcement of plans

Q1 2018 - Q2 2018
Launch of website and token sale

Q2 2018 - Q4 2018 <--- ⚒️⚒️ We are here ⚒️⚒️
Development in TestNet

Q4 2018 - Q1 2019
Deployment in ProdNet

Q1 2019 - Q2 2019
Wallet release

🏁🏁 Q2 2019 🏁🏁
Service commencement
and advanced features release



For more details on road map check out our road map page and white paper: 

https://ambertime.org/index.php#roadmap

https://ambertime.org/media/docs/whitepaper.pdf




Thank you for your support!!! 🙏🙏🙏

[ambertime]

We have hit a milestone of 🌟🌟🌟 60,000,000 🌟🌟🌟 AMTC tokens sold! 

👏👏👏👏👏👏


Check out the latest actions on AMTC:

https://ethplorer.io/address/0x84936cf7630aa3e27dd9aff968b140d5aee49f5a


Thank you all for your support thus far! 🚀 🌚 🚀 🌒 🚀 🌓 🚀 🌕 👩‍🚀 👨‍🚀

[Javion_yang]

reserved

[ambertime]

Great idea and great project. I hope this project will be successful. Always keep up the great work!

Hey baby31115!  👋👋


Thank you for taking interest in our project   


Your support is very encouraging!!! 🙏🙏🙏

[ambertime]

AAAAnnnnddd... its a wrap! 🏁🏁🏁


🌟🌟🌟AMBERTIME ANGEL FUNDING ROUND SUCCESSFULLY COMPLETED🌟🌟🌟



More than 13,400 ETH raised!!! 🙌🙌🙌🙌



Nearly 90,000,000 AMTC sold!!!!  💰BTC💰BTC💰BTC💰



Live Trading on 💱 exchanges 💱 starts on TODAY on the following ForkDelta.com and HTT.ONE



More to come - stay tuned!!! 👂👂👂

[Lantern_NPT]

Can i ask some basics concerning this blockchain? Such as what would be the estimated block size, difficulty to mine a block? If using POA algo, how does the time delay, target adjust frequency will be configured to avoid double spending? I've already get it sorted out that the data structure typically use the JSON format for storage, and content can be asset(transactions), metadata and so on.

[ambertime]

Can i ask some basics concerning this blockchain? Such as what would be the estimated block size, difficulty to mine a block? If using POA algo, how does the time delay, target adjust frequency will be configured to avoid double spending? I've already get it sorted out that the data structure typically use the JSON format for storage, and content can be asset(transactions), metadata and so on.

Hello Lantern_NPT 😎😎😎


We are currently aiming a 10 second ⌛ block confirmation rate, the blocksize of which we have yet to finalize but will be determined during alpha phase when implemented on test net. 


In terms of mining and validation difficulty, it will be kept at a low threshold since all the ⛏️⛏️miners⛏️⛏️ in POA are pre-selected and trusted nodes.


Great ❓❓questions❓❓