[BOUNTY] 🔥🔥WINNER-GETS-ALL / PROOF-OF-TRANSACTION CONSENSUS DEBATE BOUNTY!🔥🔥

[makarios]

Telegram username : @Makarios91

Tau wallet add:TPzz1XUd9HVQDXPyr7DFZUfySe2exNj8px

[1714009912]

1714009912

[yoman55]

Proof of Authentication
Telegram Username : @BinaSarkar55
TAU wallet address : TDYugHcDU6HnXB82v4YJDZaZifBvwFCfMz

[jpnl0002]

the idea of proof of transaction consensus is just saying or sending a different signal about the technology. i can imagine how cold it will be if the life in entirety will be like a cold classroom where everyone goes to school to learn an age old tradition, in such cases, there is no development or advancement in such fields or areas.

[Snaguit321]

the idea of proof of transaction consensus is just saying or sending a different signal about the technology. i can imagine how cold it will be if the life in entirety will be like a cold classroom where everyone goes to school to learn an age old tradition, in such cases, there is no development or advancement in such fields or areas.

This is definitely the first and one of a kind coin, that is not implemented yet. We have POW and POS - TAU is proudly representing POT (Proof of Transaction)

Sounds great yea? All fields can always be a success of each development it matters only on how the team will accelerate and fasten the implementation of the platform.

[kallingal03]

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.

[lodyman]

CONSENSUS DEBATE BOUNTY!

kinda thrilled with that title  *thumb up*

i was thinking about why do we need to store all previous tx ..
how about crunching every epoch of say 100,000 blocks in a balance block and previous hash as the genesis of the next epoch and so on
wouldn't that make it more efficient and usable till the year 2040 ..
 probably few petabytes hard disks will be available on the markets by then but why not decreasing the foot print further

[lodyman]

Tau foundation has not fixed up plan to control minging club to operate under 51%. One potential way during mean time is simply keeping foundation nodes to stay above 40% transaction mining power, this makes it very hard to achieve 51%. (Our current labor is focusing on mainnet, balance system, wallet, signal voting and removing time. )
It is our goal to have PC be able to intermittently run full nodes since there is no heavy computing neither storage work engaged. PC is getting more powerful everyday.
The way I understand TAU fairness is not by equalizing everyone, but reducing the entry barrier to common people. Both tau technology and coin econemy address fairness in following way: we are running bounty program for very long time to allow mininum effort to get on board TAU, hope 20 years from my perspective. We keep coin out of inflation. We reward common people essential behavior, spending money for living, rather than rich people racing on hardware and asset hoarding. I would claim we are more fair than POW and POS, but never want to claim the best and abosolute, even thought that is our long term mission.
For DDOS resistance, our mining signal system can easily allow mining leaders to randomly delegate to different address to avoid DDos. Here it is, mining club leader rent 1,000,000 IP addresses, each address associate to one TAU wallet address, then using TAU signal system randomly assign mining power to one of those 1,000,000 address, because DDos never knows club randomness to find IP to attack. I always trust randomness algo, which bitcoin is designed around, than oracles. It is our design purpose use TAU onchain signal system efficiently resist DDos and many other cool things.

1- Tau foundation has not fixed up plan to control minging club to operate under 51% !!

As it doesn't require no heavy computing neither storage work engaged it might be easy for someone who have more servers than the foundation nodes to make easy chain splits and 51% attacks ..
besides why should we trust the foundation nodes at the first place ., what if it failed ?!! would the coin be dead ?

2- Mining leaders , Mining club leader ?

who are they ?
can anyone be one of them ?
what do they do exactly ?
how are they get chosen ? votes ? delegation?


If mining only gets the tx fee and the tx fee was worth 0.1 TAU with average of 50k tx per day that will sum to 5k tau
which means if there is 5k miners each one will take 1 TAU a day would that be a great incentive in a 10bln coin
on 100X of number of TX which is near the current daily cap and 10X number of miners it will still sum to 10 TAUs a day

[Sone11]

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

Yeah. The debate will just start if someone opposes your suggestion or opinion about the project. I like this marketing campaign to know more about the project and what are the strength and weaknesses that could lead to some improvements and adjustments if spotted early on.

[shainasaz]

TAUcoin made by consensus mechanism called POT. It proposed a fast circulation without inflation and deflation. By doing it, users can easily access their network security transactions on time.

[cryptocurrenciesboom]

Let me ask one provocative question, what is the reason for the tight binding of the wallet to the account on Facebook? And is the loss of a Facebook account a threat of losing or stealing funds from my wallet?

[imorpheus]

Let me ask one provocative question, what is the reason for the tight binding of the wallet to the account on Facebook? And is the loss of a Facebook account a threat of losing or stealing funds from my wallet?

This is for initial launch of web wallet. App wallet will release in one week. That does not need Facebook logon.

[TheMobius8]

Let me ask one provocative question, what is the reason for the tight binding of the wallet to the account on Facebook? And is the loss of a Facebook account a threat of losing or stealing funds from my wallet?

Actually I wondered of a FB linked web wallet might make it easier to integrate Tau into other applications such as FB linked games or apps (casino games!)

[imorpheus]

Let me ask one provocative question, what is the reason for the tight binding of the wallet to the account on Facebook? And is the loss of a Facebook account a threat of losing or stealing funds from my wallet?

Actually I wondered of a FB linked web wallet might make it easier to integrate Tau into other applications such as FB linked games or apps (casino games!)

Wallet of tau eventually will be App Store. Any ones can build their wallet. We will be welcome everyone build wallet and App Store.

[Balti143]

Telegram Username: @Zuhair123
TAU Wallet Address: TUWM8MLirFyx6N5Fe18jGzVziX7nAse5iu

[cryptocurrenciesboom]

Is it really so serious a problem with the electricity consumed by mining centers to maintain pow? With each new year, the mining hashrates is only increasing, and there have been no serious statements about this problem, besides, it did not lead to black out. May be mining stimulate the growth of electricity power industry?

[shainasaz]

The speed of internet allows decentralized nodes to communicate it fster, POT network will be available to support 1000 times transactions, which is equivalent to 10 billion transactions every day.

[cryptocurrenciesboom]

If I correctly understood the algorithm of the Harvest Club, the first published application on tau, especially if it is popular, like CryptoKitties, will collect around itself the target audience and will be collect the main awards of the network. That is, the first developed applications will collect the main awards, as well as create an unfavorable and non-competitive atmosphere for the blockchain, but with the growth in the number of such applications, there should be some kind of balance. Explain to me if I'm wrong?

[imorpheus]

If I correctly understood the algorithm of the Harvest Club, the first published application on tau, especially if it is popular, like CryptoKitties, will collect around itself the target audience and will be collect the main awards of the network. That is, the first developed applications will collect the main awards, as well as create an unfavorable and non-competitive atmosphere for the blockchain, but with the growth in the number of such applications, there should be some kind of balance. Explain to me if I'm wrong?

Very interesting perspective to view harvest club is an app. I never thought so, but from this line. Our onchain voting and delegation signal system could prsent some interesting apps. We focus on one currency only. Tau focus on chain solutions for mining, speedup, voting and transaction.

[imorpheus]

Tau foundation has not fixed up plan to control minging club to operate under 51%. One potential way during mean time is simply keeping foundation nodes to stay above 40% transaction mining power, this makes it very hard to achieve 51%. (Our current labor is focusing on mainnet, balance system, wallet, signal voting and removing time. )
It is our goal to have PC be able to intermittently run full nodes since there is no heavy computing neither storage work engaged. PC is getting more powerful everyday.
The way I understand TAU fairness is not by equalizing everyone, but reducing the entry barrier to common people. Both tau technology and coin econemy address fairness in following way: we are running bounty program for very long time to allow mininum effort to get on board TAU, hope 20 years from my perspective. We keep coin out of inflation. We reward common people essential behavior, spending money for living, rather than rich people racing on hardware and asset hoarding. I would claim we are more fair than POW and POS, but never want to claim the best and abosolute, even thought that is our long term mission.
For DDOS resistance, our mining signal system can easily allow mining leaders to randomly delegate to different address to avoid DDos. Here it is, mining club leader rent 1,000,000 IP addresses, each address associate to one TAU wallet address, then using TAU signal system randomly assign mining power to one of those 1,000,000 address, because DDos never knows club randomness to find IP to attack. I always trust randomness algo, which bitcoin is designed around, than oracles. It is our design purpose use TAU onchain signal system efficiently resist DDos and many other cool things.

1- Tau foundation has not fixed up plan to control minging club to operate under 51% !!

As it doesn't require no heavy computing neither storage work engaged it might be easy for someone who have more servers than the foundation nodes to make easy chain splits and 51% attacks ..
besides why should we trust the foundation nodes at the first place ., what if it failed ?!! would the coin be dead ?

2- Mining leaders , Mining club leader ?

who are they ?
can anyone be one of them ?
what do they do exactly ?
how are they get chosen ? votes ? delegation?


If mining only gets the tx fee and the tx fee was worth 0.1 TAU with average of 50k tx per day that will sum to 5k tau
which means if there is 5k miners each one will take 1 TAU a day would that be a great incentive in a 10bln coin
on 100X of number of TX which is near the current daily cap and 10X number of miners it will still sum to 10 TAUs a day

Thanks for all feedback. Hashing history transactions off chain is in our plan, since we just started, those are already established plan, we will for to use that down the road, thanks for the reminder.
Removing hardware arms race brings concern on how secure it is to avoid 51%. This is the area we are experimenting to use transacion fee as accumulated weight, fee has a cost to prevent sybil. TAU coin started with 5 nodes running by foundation different team member independantly. We see more nodes coming. In intial stage, fundation need to perform protection for 51% attach, once the coins are distributed widely and normal transaction arises. We believe foundation nodes no longer need to be existing.
Our upcoming white paper talks about mining leader and its voting and delegation system. In short, users delegate mining power to leader, leaders mining and voting.
The transaction fee ratio is totally up to the market, it is hard to say how much transaction fee it is in future. Half of the transaction fee will be “club wiring” to all users, half will be “club wiring” to local club and the leader. With auto block time interval, we donot have a daily cap for transactions.

[imorpheus]

Is it really so serious a problem with the electricity consumed by mining centers to maintain pow? With each new year, the mining hashrates is only increasing, and there have been no serious statements about this problem, besides, it did not lead to black out. May be mining stimulate the growth of electricity power industry?

Most advanced technology are solving more problems with less energy. Bitcoin seems to using more energy to do less transaction. From my gut feeling, it can not be right.
Tau aims to deal with huge amout of transaction using less computing power, the more transaction, the faster the network.
Using off-chain hardware to form up security will always cause arms race in the real world, energy and material is burned to select leader endlessly in every block. I also rather than compare POW and POT, it is more efficient to focus to getting POT better without concern of POW existing.