[ANN] Purple Protocol - The Global Decentralized Ledger Infrastructure

[octavonce]

After receiving feedback that the text on our website makes bold claims, we have updated it to indicate that the technology is still at an experimental stage and that the numbers posted are only theoretical.

If anyone has any more feedback we are happy to hear about it either here or at contact@purpleprotocol.org

[Ohgreatanotherone]

Been checking in daily for updates - yeah, I know, I'm jobless like that. Haven't heard a peep - yeah, I know, new blockchain development is time consuming. So, just asking if there's a morsel of an update to be had 

[octavonce]

Been checking in daily for updates - yeah, I know, I'm jobless like that. Haven't heard a peep - yeah, I know, new blockchain development is time consuming. So, just asking if there's a morsel of an update to be had 

We have received feedback that the technical side is not detailed enough so we began writing the protocol's wiki which will contain an in depth explanation of everything. We will announce here when it is released.

[Ohgreatanotherone]

Been checking in daily for updates - yeah, I know, I'm jobless like that. Haven't heard a peep - yeah, I know, new blockchain development is time consuming. So, just asking if there's a morsel of an update to be had 

We have received feedback that the technical side is not detailed enough so we began writing the protocol's wiki which will contain an in depth explanation of everything. We will announce here when it is released.

Back to twiddling my thumbs and hoping for the best.
This waiting game can make a saint out of anybody.
Could you help a saint with an ETA? 

[octavonce]

Been checking in daily for updates - yeah, I know, I'm jobless like that. Haven't heard a peep - yeah, I know, new blockchain development is time consuming. So, just asking if there's a morsel of an update to be had 

We have received feedback that the technical side is not detailed enough so we began writing the protocol's wiki which will contain an in depth explanation of everything. We will announce here when it is released.

Back to twiddling my thumbs and hoping for the best.
This waiting game can make a saint out of anybody.
Could you help a saint with an ETA? 

We open sourced the repository containing the wiki today. It's still a WIP but you can check it out here: https://github.com/purpleprotocol/wiki/wiki

[octavonce]

I have written a new article about smart contracts. Check it out: https://medium.com/purple-protocol/how-smart-contracts-will-revolutionize-law-and-finance-e2515dcb8845

[octavonce]

A few updates regarding the status of the project:

- Because of several issues regarding sharding (cross-shard smart contract calls are very hard to implement right, shards are difficult to merge and partition tolerance pretty much fails with sharding) we have decided to stop focusing on it at this moment, simplifying the whole architecture and making the codebase much smaller.

- Because sharding has been dropped, we have decided to re-write the code in the Rust programming language in order to optimize the consensus algorithm as much as possible and such we are now looking for contributors who either know Rust or C/C++.

- I have moved a few weeks ago to Berlin and the legal entity will most probably be established here in Germany.

- Because of the regulatory issues regarding ICOs we do not believe any longer that we will host an ICO. This will only happen if the legal landscape gets better in the following months.

[Ohgreatanotherone]

A few updates regarding the status of the project:

- Because of several issues regarding sharding (cross-shard smart contract calls are very hard to implement right, shards are difficult to merge and partition tolerance pretty much fails with sharding) we have decided to stop focusing on it at this moment, simplifying the whole architecture and making the codebase much smaller.

- Because sharding has been dropped, we have decided to re-write the code in the Rust programming language in order to optimize the consensus algorithm as much as possible and such we are now looking for contributors who either know Rust or C/C++.

- I have moved a few weeks ago to Berlin and the legal entity will most probably be established here in Germany.

- Because of the regulatory issues regarding ICOs we do not believe any longer that we will host an ICO. This will only happen if the legal landscape gets better in the following months.

So, no crowdsale or offering of any kind? How are people going to get a hold of the crypto then? By mining it?
Does that mean we have to hold on till the blockchain is release before we can acquire it. No placeholder ERC20 to keep first and swap later?
Also, sharding isn't off the table right? Just on hold?

[octavonce]

So, no crowdsale or offering of any kind? How are people going to get a hold of the crypto then? By mining it?

This is not definite. We are waiting for the legal landscape to stabilize.

If it will make sense at some point to hold a crowdsale we will do it. Right now however, there are too many complications on all levels. It is a matter of choosing what's best for the project in the short-term vs the long-term.

Since the coin is mined, a launch without a crowdsale is viable because the distribution is handled by the protocol itself.

Does that mean we have to hold on till the blockchain is release before we can acquire it. No placeholder ERC20 to keep first and swap later?

Most probably.

Also, sharding isn't off the table right? Just on hold?

There are too many hoops you have to jump through to get sharding right and even if you do, the attack surface area is still quite big. Now let's assume that all of this is handled, you then still have to solve the issues of inter-shard contract calls.

Now, there may be a way to solve all of these and if there is, a hard fork can be performed to update the protocol. But right now, sharding is too far fetched.   

[Ohgreatanotherone]

Reading between the line, seems like a lot of thought has been put into the long-term sustainability of this project and how it's gonna improve on existing tech. Love it. Can't wait for further development and get my mints on the coin. Wish there was a more concrete ETA

[octavonce]

Reading between the line, seems like a lot of thought has been put into the long-term sustainability of this project and how it's gonna improve on existing tech. Love it. Can't wait for further development and get my mints on the coin. Wish there was a more concrete ETA

I wish that there would be a more concrete ETA available however with the drop of ICOs our options for funding have shortened and I do not want to promise unrealistic things.

With all this in mind, I can say that we are continuously trying to catch lightning in a bottle and create the best protocol that there is. This requires an incredible amount of effort and preparation and with limited options for funding, unfortunately this also means that a lot of time has to be spent and I would rather have the launch delayed if it means that at the end of the day everything works flawlessly.

Launching early is the capital sin of open blockchain projects.

[Ohgreatanotherone]

Reading between the line, seems like a lot of thought has been put into the long-term sustainability of this project and how it's gonna improve on existing tech. Love it. Can't wait for further development and get my mints on the coin. Wish there was a more concrete ETA

I wish that there would be a more concrete ETA available however with the drop of ICOs our options for funding have shortened and I do not want to promise unrealistic things.

With all this in mind, I can say that we are continuously trying to catch lightning in a bottle and create the best protocol that there is. This requires an incredible amount of effort and preparation and with limited options for funding, unfortunately this also means that a lot of time has to be spent and I would rather have the launch delayed if it means that at the end of the day everything works flawlessly.

Launching early is the capital sin of open blockchain projects.

This I can agree with. While it's gonna be sad, popping in from time to time for signs of life and being met with an empty room, my confidence in the project has grown immensely.  Would rather wait for everything to be ship-ready. Seen my own fair share of early launches and its attendant damnation

[octavonce]

Reading between the line, seems like a lot of thought has been put into the long-term sustainability of this project and how it's gonna improve on existing tech. Love it. Can't wait for further development and get my mints on the coin. Wish there was a more concrete ETA

I wish that there would be a more concrete ETA available however with the drop of ICOs our options for funding have shortened and I do not want to promise unrealistic things.

With all this in mind, I can say that we are continuously trying to catch lightning in a bottle and create the best protocol that there is. This requires an incredible amount of effort and preparation and with limited options for funding, unfortunately this also means that a lot of time has to be spent and I would rather have the launch delayed if it means that at the end of the day everything works flawlessly.

Launching early is the capital sin of open blockchain projects.

This I can agree with. While it's gonna be sad, popping in from time to time for signs of life and being met with an empty room, my confidence in the project has grown immensely.  Would rather wait for everything to be ship-ready. Seen my own fair share of early launches and its attendant damnation

I can assure you that everything is going really well. The protocol is getting more and more refined with each passing day. It is an iterative process that the more it is applied, the higher the quality of the product will be.

I am currently working on a new and improved version of the whitepaper which will describe everything in greater detail. We are also be constantly adding content to the wiki: https://github.com/purpleprotocol/wiki/wiki

Stay tuned.

[octavonce]

I have just added more information in the original post. If anyone has any questions, do not hesitate to ask!

[octavonce]

We have just released a new and improved version of the whitepaper. Check it out here: https://purpleprotocol.org/whitepaper/

[octavonce]

We now have a blog! Check it out here: https://purpleprotocol.org/blog/we-finally-have-a-blog

[octavonce]

We have posted a new article which explains in detail the way in which the consensus algorithm of Purple works: https://medium.com/purple-protocol/presenting-the-consensus-algorithm-behind-purple-sspow-784ebadb983d

[octavonce]

Help us raise funds to further develop the Purple Protocol by participating in our crowdfunding campaign! Read here how.

[Ohgreatanotherone]

Help us raise funds to further develop the Purple Protocol by participating in our crowdfunding campaign! Read here how.

Market seems to be on the uptick. An ICO with a softcap of $250,000 is actually feasible with the right tools and contacts. The question is what do they get in turn for contributing? Based on the gofundme campaign, can't see any sort of return for contributing atm

[octavonce]

Help us raise funds to further develop the Purple Protocol by participating in our crowdfunding campaign! Read here how.

Market seems to be on the uptick. An ICO with a softcap of $250,000 is actually feasible with the right tools and contacts. The question is what do they get in turn for contributing? Based on the gofundme campaign, can't see any sort of return for contributing atm

There aren't any. This is not an ICO. It still is quite risky to host one at this moment and this is why we are more looking for donations at this point. Any amount can help a lot since we do not have almost any funds at our disposal. If the ICO makes sense in the future maybe it will be on the table again but I can't promise anything.