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Author Topic: [BOUNTY] 🔥🔥WINNER-GETS-ALL / PROOF-OF-TRANSACTION CONSENSUS DEBATE BOUNTY!🔥🔥  (Read 3986 times)
genie854
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August 28, 2018, 03:32:46 AM
 #21

You also mention that TAUcoin is the most environmentally friendly blockchain, this means that the effects of its operation must be smaller than any other blockchain currently operating. However, because TAUcoin requires harvest club leaders to run a full node, there is an additional carbon footprint associated with its operation, which may not be necessary. There are a number of other blockchains that do not require specialist hardware to operate nodes, for example, using mobile devices instead. Until TAU can move to a similar system, without requiring the production of additional dedicated hardware, it cannot claim to be the most environmentally friendly.

I also suspect that the TAU network will be unusually vulnerable to denial of service attacks, by requiring only the harvest club leader to run a full node, the reduce the number of attack points to just a few. Even if we have 10,000 harvest clubs each with 100,000 members (total 1B users by 2040), there would still only be 10,000 points of attack. This means that a particularly large harvest club could instigate a DDOS attack on its nearest competitors to quite easily achieve a 51% share of the network harvest power. I think this could be potentially resolved by having only the harvest leader require a full node, whilst also having 3-5 oracles per harvest club run a partial node to achieve majority consensus if the club leader gets taken down. The IPs of these oracles should be masked to prevent a DDOS. Ideally, these oracles should be running a partial node on a mainstream device, perhaps being built into the wallet application on iOS/PC/MAC and Android. It would be quite simple to implement a centralization attack on a network with so few nodes, as the harvest club power will automatically lead to users gravitating towards the clubs with the largest harvest power, hence leading to just a few very large harvest clubs by 2040.  

For environmental friendliness, I think TAU is close to the best possible. It is running on already existing platforms such as PC and mobile phone. Energy consumption is significantly lower than POW with hash calculation. Yes, there is project with even lower hardware/energy requirement, but the difference is small.

For DDOS attack, TAU currently follows Bitcoin's communication protocol and transaction pool rules. As of today, nearly 10,000 Bitcoin full nodes are running and DDOS is not a major concern.
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jdeanne92
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August 28, 2018, 02:20:55 PM
 #22

This would be the best way to know more about this type of consensus mechanism since i only know POW and POS. And by the way the site is very user friendly.
I just be sitting in the corner and reading all the ideas shared on.
imorpheus
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August 28, 2018, 04:55:03 PM
 #23

If anyone wants to be miner for TAU upcoming mainnet, we will help you and provide nice coins to start. Just message me....

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August 28, 2018, 05:16:50 PM
 #24

If anyone wants to be miner for TAU upcoming mainnet, we will help you and provide nice coins to start. Just message me....

I believe there are some sort of club and harvest right? will that be considered as staking?

I am amaze with the concept and the ease of transaction with TAU. The only concern im having right now is when its massively adopted will the transaction be the same as what we are seeing right now?

As far as I know all type of wallet that are shared over the network are still hackable.. Im looking forward to also let the team create a offline wallet.
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my only address Eth: 0xa3beBBea49563A6D6D....


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August 28, 2018, 05:26:39 PM
 #25

Well, how can I participate in what you say, in General, if you want some help from me, what is in my power to help you for your token, thank you Smiley

STOP ERC20 SCAMS
TheMobius8
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August 28, 2018, 07:07:14 PM
 #26

So, as I have been posting on the telegram Convo...

I think that the PoT needs a small scale initial application where keeping track on a network specific transaction, such as school lunch sales could benefit. The Tau tokens would be purchased and used to buy the lunches at an initial rate of value. Then as the market of tau fluctuates the accounts would up/down as dictated by market.

This would also be a great test case for speed and volume since schools would be processing a few hundred transactions at a time and the tau coins could be used at any school utilizing the system. (Currently most commercial solutions limit the amounts in accounts to be spent a one school or district).
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August 28, 2018, 09:36:18 PM
 #27

The term handling this project are good term which will have to make sure that this new concept come to reality because developing a new concept is not easy. We are only familiar with proof-of-stake and proof-of-work. good luck.
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August 28, 2018, 10:16:40 PM
 #28

So, as I have been posting on the telegram Convo...

I think that the PoT needs a small scale initial application where keeping track on a network specific transaction, such as school lunch sales could benefit. The Tau tokens would be purchased and used to buy the lunches at an initial rate of value. Then as the market of tau fluctuates the accounts would up/down as dictated by market.

This would also be a great test case for speed and volume since schools would be processing a few hundred transactions at a time and the tau coins could be used at any school utilizing the system. (Currently most commercial solutions limit the amounts in accounts to be spent a one school or district).

Keeping my eye on this idea. Deserves more attention because it talks about use case -- something that needs alot more discussion
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August 29, 2018, 02:28:46 AM
 #29

If anyone wants to be miner for TAU upcoming mainnet, we will help you and provide nice coins to start. Just message me....
I want to be a miner for the TAU of the upcoming network.
To do this, I need a static IP?
cryptotycoon33
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August 29, 2018, 02:56:53 AM
 #30

TAUcoin, has proposed a brand new consensus mechanism called Proof-of-Transactions. It proposes a fast circulation currency without inflation. Users collectively maintain the network security by doing normal economical behavior - transactions through time. With the technical innovation of "Proof Of Transaction", users are incentivized to making necessary transactions by sharing the future block reward. No advantage is given to accumulating wealth and hardware.
Learn about TAUCOIN here

We believe that Proof-of-Transaction is the best consensus mechanism when it comes to being:

•   The most secure decentralized network
•   The fairest decentralized network
•   The most environmentally friendly decentralized network

Let’s jump to the year 2040, with the assumptions that:
1.   Internet Speed has dramatically increased, from 4G to 10G.
2.   Coins (TAU) with Proof-of-Transaction mechanism are widely distributed to billions of holders
3.   TAU foundation team has successfully developed “automatic block sizes” that allows all miners to define their size and time of block generation.

The increase of internet speed allows decentralized nodes to communicate faster. With the implementation of automatic block sizes, POT network will be able to support 1000 times more transactions than today, which is about roughly 10 billion transactions every day.

By Shannon’s theory, it is impossible for one node to collect all transactions in a world-wide competitive decentralized network. Thus, there will be thousands of “mining clubs” around the world to pick up transactions from different parts of the network. They are all competing on reducing commissions and capturing as many transactions as fast as they can. Under these circumstances, it is very difficult to form a 51% attack to obtain any significant share of the 10 billion fee based transactions daily, especially when one is trying to manipulate a massive amount of transactions in a 1 year sliding window.
*Proof-Of-Transaction Whitepaper*


Rules
1.   The debate starts today. Anyone in Bitcointalk is able to participate anytime until the end of the debate. The debate ends on the 30th of September.
2.   Users are required to challenge Proof of Transaction’s consensus mechanism, with no limitation to proofs, arguments and ideas. Mathematical models are welcomed.
3.   The community votes among the top 3 best arguments/ideas/proofs, and 1Million TAU + $1,000 worth of BTC are being awarded to the highest vote.
4.   The vote will happen in TAUcoin’s telegram group on 1st October, and the result is finalized on the 24th hour.
5.   The arguments/ideas/proofs are defined to be the first user to propose it under TAU’s bitcointalk thread, with supported evaluations.
6.   TAU foundation team’s arguments will not participate on the result voting. The winner of the debate can be anyone else, but TAU.
7.   TAU foundation team will reward users that propose an interesting point of view or idea. This is purely defined by the TAU foundation team; an act to encourage everyone to share their thinking.




I think TAU Proof of Transaction's consensus mechanism is quite an innovative idea which has come to revolutionized the global financial economy through the blockchain technology,even though there is no complete perfect ecosystem in the universal, the 21st century innovation will improve on the 2 oldest consensus mechanisms; POW and POS by increasing the transactional incentives of users and the velocity of money through a very fair process of mining with a little degree of knowledge and low level of investment outlay. This is a welcome development to the cryptocurrency space. Thanks
genie854
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August 29, 2018, 03:35:57 AM
 #31

If anyone wants to be miner for TAU upcoming mainnet, we will help you and provide nice coins to start. Just message me....
I want to be a miner for the TAU of the upcoming network.
To do this, I need a static IP?

Mining client is under development and will be on-line next week. The version will support Ubuntu only.
imorpheus
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August 29, 2018, 04:35:11 AM
 #32

If anyone wants to be miner for TAU upcoming mainnet, we will help you and provide nice coins to start. Just message me....
I want to be a miner for the TAU of the upcoming network.
To do this, I need a static IP?
I will message u for setup.

commander11
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August 29, 2018, 04:40:36 AM
 #33


CLICK THE IMAGE TO PARTICIPATE
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August 29, 2018, 04:40:52 AM
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CLICK THE IMAGE TO PARTICIPATE ON THE AIRDROP!
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August 29, 2018, 04:50:15 PM
 #35

i suggest you that everything about ico must be clear at yhe beginning.Just a suggestion
TheMobius8
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August 29, 2018, 11:56:35 PM
 #36

So, as I have been posting on the telegram Convo...

I think that the PoT needs a small scale initial application where keeping track on a network specific transaction, such as school lunch sales could benefit. The Tau tokens would be purchased and used to buy the lunches at an initial rate of value. Then as the market of tau fluctuates the accounts would up/down as dictated by market.

This would also be a great test case for speed and volume since schools would be processing a few hundred transactions at a time and the tau coins could be used at any school utilizing the system. (Currently most commercial solutions limit the amounts in accounts to be spent a one school or district).

Keeping my eye on this idea. Deserves more attention because it talks about use case -- something that needs alot more discussion

Another thought occurred to me on creating a simple qr reading register app to do the transaction. Student shows wallet qr, register app (on phone or register terminal) reads the transactions similar to how the Dunkin or mcdonalds app reads its gift cards and coupons.
Miles123
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August 30, 2018, 03:49:58 AM
 #37

It's wonderful if that speed of the internet will be true in the future and I am looking forward for that. Yes, it can really help everyone to have a quick transaction or don't have any delay. And everyone can benefit on that.
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August 30, 2018, 05:14:32 AM
 #38

Any product, company and corporation who've undergo an intense debate and criticism is the company of success.. I'd like to eat in some restaurant that have a prepared box for comments, suggestion and criticism , you know why? they want to improve their service to their clients.. Same with this project!

I don't want to be part of this debate, coz i'm not good in debate.. lol!

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ViaBTC

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imorpheus
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August 30, 2018, 05:52:51 PM
 #39

Any product, company and corporation who've undergo an intense debate and criticism is the company of success.. I'd like to eat in some restaurant that have a prepared box for comments, suggestion and criticism , you know why? they want to improve their service to their clients.. Same with this project!

I don't want to be part of this debate, coz i'm not good in debate.. lol!
Tau foundation has learned a lot from debate. Already actions taken according to debate.
At same time, We welcome new miners and will do best keep miner happy and easy to setup. Will you be interested in being a mining club leader?

cryptotycoon33
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August 30, 2018, 08:25:31 PM
 #40

Any product, company and corporation who've undergo an intense debate and criticism is the company of success.. I'd like to eat in some restaurant that have a prepared box for comments, suggestion and criticism , you know why? they want to improve their service to their clients.. Same with this project!

I don't want to be part of this debate, coz i'm not good in debate.. lol!

I think you can participate in the debate because what you have suggested above about product, company and corporation is part of debate, there is nothing so peculiar about debating, so put in your best and read the whitepaper so as to contribute to the topic whether against or for. Thanks
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