TAUCoin “Proof of Transaction” - features debate and bounty for 12 months

[zityx23]

TAUcoin debate daily topic 10/25/2018

Continuation of reward clipping discussion. Do you think it is fair for a user to gain profit from making transactions? For example, without reward clipping, one can send transactions between his own addresses to increase mining power. This could be profitable if future transaction volume is greater than current.

No it isn't. Imagine if there is no limitation such as reward clipping, many users will abuse it cause they know that the more transactions increase the more mining power. I think the transaction should be in place such as peer to peer or more to say in a natural way not by doing this. 

This is the first school of thinking, and what I prefer. Making transactions solely for the purpose of profit should be stopped.

Think of a start-up where one creates an app/website that requires the use of "HIS" TAU address over and over again as payments, he then, can subdue the system by generating multiple transactions solely for DUAL purposes: 1. to earn from his app/website and 2. for block rewards system. "Transaction for profit" can happen whichever ways whether fake or start-up as this serves the coins' purpose, Proof of Transaction. OR do you mean to tell that only those who have start-ups can abuse the reward blocking mechanism?

[genie854]

TAUcoin debate daily topic 10/25/2018

Continuation of reward clipping discussion. Do you think it is fair for a user to gain profit from making transactions? For example, without reward clipping, one can send transactions between his own addresses to increase mining power. This could be profitable if future transaction volume is greater than current.

50/50 or win/win. All fake transaction should be limited in any way. From the other hand transactions that make startups on tau platform or transaction that allow growing up the tau community etc., should be awarded for example in lower fees.

TAU is a permission-less public chain, so it might be difficult to tell which transactions are "fake" and which are "start-up".

"Fake" is a transaction which overfed determined limit (day, month, year).
Startup makes a request to mods. Mods accepted startup account (accounts) and all transactions from it account is "start-up".

Time limit on "fake" transaction won't work if an entity creates lots of addresses (it's free).

Mods (foundation?) can grant "start-up" status, but this is a centralized solution.

[genie854]

TAUcoin debate daily topic 10/25/2018

Continuation of reward clipping discussion. Do you think it is fair for a user to gain profit from making transactions? For example, without reward clipping, one can send transactions between his own addresses to increase mining power. This could be profitable if future transaction volume is greater than current.

50/50 or win/win. All fake transaction should be limited in any way. From the other hand transactions that make startups on tau platform or transaction that allow growing up the tau community etc., should be awarded for example in lower fees.

TAU is a permission-less public chain, so it might be difficult to tell which transactions are "fake" and which are "start-up".

Maybe the blockchain can check if transactions are only from the same addresses mostly and therefore rewards from them could be limited. A transaction fee of 0.00250000 TAU can produce at least 40 transactions before fully burning 1TAU as tx fee so it will really be abused in the future. How about putting a limit to a transaction to be made between 2-4 addresses.? 

Addresses can be created off-chain for free.

[genie854]

TAUcoin debate daily topic 10/26/2018

Continuation of reward clipping discussion. What will happen if there is no limit on reward received from one transaction (say, someone pays 0.1 TAU transaction fee can earn 1 TAU later from this transaction)? Imagination please

[Wolf Clover]

Reserv

[zityx23]

TAUcoin debate daily topic 10/26/2018

Continuation of reward clipping discussion. What will happen if there is no limit on reward received from one transaction (say, someone pays 0.1 TAU transaction fee can earn 1 TAU later from this transaction)? Imagination please

I'd like to say that if this happens and many adopts to it, mining all 10B coins would be faster. Therefore with the "law of supply and demand", price would go up. (If we have established a price already on TAUX). The downside is, when TAUcoins comes into other BIG exchanges like Binance, Okex, Huobi etc,.. whales can manipulate the market as they have most of the coins. And even if before coming into exchanges, these whales could also create a dump or pump situation more likely.

[ValeryO]

TAUcoin debate daily topic 10/26/2018

Continuation of reward clipping discussion. What will happen if there is no limit on reward received from one transaction (say, someone pays 0.1 TAU transaction fee can earn 1 TAU later from this transaction)? Imagination please

“Says” don’t work. But if you really pay, for example, reward in 1 tau for a transaction in 0,1tau fees to the first 1000 members of the community, the community grows exponentially to 1mln, 2mln, 10mln etc. That growth will stop only you stop pay reward. It looks like a typically Ponzi scheme. On the planning horizon in 5-10 years we lose all in that case. At the initial stage, it maybe works. Need to stop in time.

[zityx23]

TAUcoin debate daily topic 10/26/2018

Continuation of reward clipping discussion. What will happen if there is no limit on reward received from one transaction (say, someone pays 0.1 TAU transaction fee can earn 1 TAU later from this transaction)? Imagination please

“Says” don’t work. But if you really pay, for example, reward in 1 tau for a transaction in 0,1tau fees to the first 1000 members of the community, the community grows exponentially to 1mln, 2mln, 10mln etc. That growth will stop only you stop pay reward. It looks like a typically Ponzi scheme. On the planning horizon in 5-10 years we lose all in that case. At the initial stage, it maybe works. Need to stop in time.

Question is, are there people right now doing that? it will only give advantage to teh first people who will actually do it. And we have to wait for the mobile mining launch to see its effects. The first 1000 members might not even be aware of this mechanism. even so, community will not grow basically just by adding transactions. It could be that only one person is doing ALL these transactions.

[imorpheus]

The foundation development team is focusing on implement java based full mobile device mining node. we found that bitcoin does not have full java version. if we launch java version, we will be first alt coin having full java implemention which supports mobile devices like android.
Anyone know any coins having full java implementation? thanks.

For the upcoming main-net, we are still using transaction numbers as counting not the transaction fee. with epoch, we believe the transaction numbers accounting is able to resist spam. looking forward to more debate.

[imorpheus]

In POT mining club power computation, after each block, all club power changes. If there are million of address and thousands of clubs in mobile network. To compute these info take big power of cell phone. We want to use epoch to make sure the computing does not have to be instant. The current epoch n only use power computed in n-2 epoch. So that the cell phone can have entire epoch to computer. Each epoch could 1 hour.
like to hear the discussion.

[zityx23]

I wonder what's the teams' priority right now. Obviously it's not the exchanges. Can anyone on the team rank these.

*mobile mining
*main-net
*mining "per se"
*monopoly game
*TAUt
*TAU X
*white paper updates
*blockchain explorer
*other TAU-based apps
 
Anyone can add some or remove some. I guess the community is eager to know which one is of the highest priority. I know the team has a lot of people working on each of their appointed projects and yet we are just more than 2k new wallets per day (I guess). I dont know but I am thinking we are eager to know where we are right now. Main-net should be ranked first, but i dont know..

[imorpheus]

Main-net is overall goal, the priority is:
1. Proof of transaction consensus implementation on java mobile device such as android.
2. Monopoly game - mining power and reputation game.
3. Speedup and resisitant to 51%
4. Consensus debate

[zityx23]

Main-net is overall goal, the priority is:
1. Proof of transaction consensus implementation on java mobile device such as android.
2. Monopoly game - mining power and reputation game.
3. Speedup and resisitant to 51%
4. Consensus debate

I am so glad that we are having this lists of priorities. As for the main net, I do think we do not need to pressure the team to hurry as we all know that time will only tell when this development will take place. I personally do not want to put a pressure on the main net issue but since it's on the FIRST priority, does this mean we are expecting it to be sooner than the monopoly game launch? Monopoly seems interesting especially that we do not have a price yet so people will abundance of TAUcoins will be at risk of spending much and people who have less (like me) will end up saving up more in the future. It could also mean that those who have less might less participate in the monopoly game.

51% attack resistance is to be maintained at all times to prevent further damage or loss. I believe we are in the right path to success.

[zityx23]

I think main-net is ready to go already. Devs are just trying it to go with mobile mining and taunopoly for a smoother transaction when all of them is up. We are all excited already to see this new feature. I myself is more intersted with the game because it can have or even more, mining power to an individual or a mining club. Whichever comes first, the community will be ready to take action and take the blockchain by flood.

I believe so much in this project as much as others who are earlier than me in this endeavor and every step of the way will be savor up to its last best bites then to another development again. I am wishing the team best of speed and skill so that we could all continue stronger! Kudos grupo. Great job.

I will have more questions in the future with our white paper as well as everything that pairs with TAUcoin. Now that taunopoly has come into discussion, I believe the team should have a deadline for this before the year ends, if possible.

[Moeda]

I think there is still a lot that needs to be improved from the Taucoin platform. Among them: The use of a private key wallet has not been functioning, meaning that when we enter a new wallet, we must enter with Facebook or email, cannot use the private key to enter. Secondly, the android application cannot transfer Coin, only serves to receive Coin.

[zityx23]

I think there is still a lot that needs to be improved from the Taucoin platform. Among them: The use of a private key wallet has not been functioning, meaning that when we enter a new wallet, we must enter with Facebook or email, cannot use the private key to enter. Secondly, the android application cannot transfer Coin, only serves to receive Coin.

Yes indeed! There are a lot since the team is starting from ground zero. Every suggestion, comment, interruption, and every thing that concerns TAU's community is of great help to the team. I believe they are doing everything they can right now to protect users and provide us with a better functionality. Mobile wallet, mobile mining, main-net, taunopoly... it adds up and yet we are just starting!

[imorpheus]

The foundation develoment team 7 poeple are all focus on mobile mainnet. We are looking to address mobile implementation than more functions now. We think getting into mobile first, then grow from there. Therefore, the mining club relationship will be counting only one layer and club wiring function is delayed. With this, we can have a light mobile full node, everyone can use.
Taunopoly game is a natural preset for full node, once node software is ready, you can one key turn on the mining.
The email and facebook signon for wallet is that we think our current value of coins is low, which is an advantage for us. We do not have to make security too much a concern to cause lots of infliction. Coin price low does have some upside in getting more pervassiveness with lower entry barrier.

[Violin8]

The foundation development team is focusing on implement java based full mobile device mining node. we found that bitcoin does not have full java version. if we launch java version, we will be first alt coin having full java implemention which supports mobile devices like android.
Anyone know any coins having full java implementation? thanks.

For the upcoming main-net, we are still using transaction numbers as counting not the transaction fee. with epoch, we believe the transaction numbers accounting is able to resist spam. looking forward to more debate.

In my findings I found a coin named Phoneum (true mobile-only cryptocurrency and mining solution) that's how it's entitled, but they are still weak because they use a combination of Proof of work (POW) and Proof of Time (POT).

To them, the more miners on the network, the higher the hashrate and mining difficulty, of course this is normal for any POW users, hence we as proof of transaction, we don't want this. Also there is so called Proof of Time, to them, the more time you spend online, the more you get rewarded, but still a problem because users are automatically excluded from mining the devices are overheated, its also a drawback that we Proof Of Transaction does not encourage excluding miners as they are important part in the ecosystem.

Further more, I even communicated to team and they say "Android runs a modified version java version", but in a closer look, I read their whole white paper seem not to mention anything with regard of full java version inclusion on there mobile mining.

Again, I even installed their mining app (Phoneum Go, anyone can check it just for learning purposes), its truelly mining when you stay online, but one major challenge is, when the mining app shut down due to device overheat, when you restart it, no previously mined record s kept, seems are arased (hahahaaa).......... I also find another called MobileCoin, but seems not to have any information regarding the use of full java version on their mobile mining activities.

All here are limitations in which we can still say no any one who managed to fully implement java version in mobile mining, I hope TAU Coin will stand out and take the lead.

[imorpheus]

Discussion on checkpoint technology.
To prevent long range attack, which is someone rebuilding blockchain from very early time to make it look like a real chain to confuse new miners, the current POT whitepaper suggests using checkpoint to make certain portion of blockchain permanent.
My worry is that if checkpoint is adopted as consensus, there will be lots hard fork to be generated because the miner made wrong choise can not come back. Blockchain itself can not prove it is genuine or or. Maybe something like Yelp service can give ranking as what fork has best chances to be real one. This situation is hard to happen in POW, but possible in both POS and POT. POT is harder due to you do need to accumulate one year transactions, but in POS you can quickly move the coins to do that.
Love to hear feedback on checkpoint thinking.

[zityx23]

Many debaters today about blockchain checkpoint points only two MAJOR pros and cons. The overruling factor of "peer to peer transactions" and security from attacks from low difficulty blocks generated in the past. ( Correct me if i understand it wrong ). Even though checkpoints do nothing relative to the consensus (as in POW), I think it has nothing to deal with POT as we live with transactions by seconds/minutes. And that a fake chain cannot be created with fake transactions in my opinion. I dont know excatly but maybe devs can give light as to HOW exactly checkpoints create security in Proof of Transaction as consensus. It has nothing to do with bitcoin in anyway aside from checking the "correct" chain or "node" and preventing the system with compiling non sense data. If an attack could be made EASILY in Proof of Transaction, then we need checkpoints to secure our miners.. but still, I don't get the point of checkpoints in POT.