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Author Topic: [ANN] [NYZO] Nyzo (Nyzo.co) | Proof of diversity | Fairly distributed | Original  (Read 4806 times)
jimhsu
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July 03, 2019, 03:26:35 PM
 #81

There are other projects with similar initiatives (eg STEEM, LBRY), but exposing the HTTP backend like this seems to allow for many more use cases other than blog/video content. E-commerce stores would probably be trivial to build. More interesting would be services (web hosting, cloud storage, advertising, even renting/leasing). But the right front ends need to be built.

Dans les champs de l'observation le hasard ne favorise que les esprits préparé
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July 03, 2019, 03:30:25 PM
 #82

The Micropayment stuff is quite nice, overall NYZO is an extremely underrated Project.
Is the micropay feature trying to achieve something similar to what BAT is doing?

That's the fun part, pretty much anything is possible right now.
You could, if you wanted, build BAT upon Nyzo.
That's the power of the 32 bits of sender data and it doesn't require complex and faulty "smart" contracts as is the case with Ethereum.
The developer can choose the language which suits him right and can use the micropay faciliation to receive payments and deliver products.

A browser extension like Metamask to pay these micropay invoices or a mobile app would be the next idea, right now you still have to run the verifier codebase to run the Micropay client.
Once something like that is in place nothing is stopping people from building mobile apps which incorporate the micropay server, or a browser extension with micropayments for functionalities, or games, or netflix, ...

Really, the possibilities are endless here.
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July 03, 2019, 05:05:16 PM
 #83

The Micropayment stuff is quite nice, overall NYZO is an extremely underrated Project.
Is the micropay feature trying to achieve something similar to what BAT is doing?

That's the fun part, pretty much anything is possible right now.
You could, if you wanted, build BAT upon Nyzo.
That's the power of the 32 bits of sender data and it doesn't require complex and faulty "smart" contracts as is the case with Ethereum.
The developer can choose the language which suits him right and can use the micropay faciliation to receive payments and deliver products.

A browser extension like Metamask to pay these micropay invoices or a mobile app would be the next idea, right now you still have to run the verifier codebase to run the Micropay client.
Once something like that is in place nothing is stopping people from building mobile apps which incorporate the micropay server, or a browser extension with micropayments for functionalities, or games, or netflix, ...

Really, the possibilities are endless here.
Something like MEGA but with clientsided file encryption before uploading it to the vendor seems to be the best approach for storage purposes.
It's about excluding trust in the vendor in that case. Then again you're expecting them not to disappear overnight with your encrypted files.
Veracrypt integration? What about longevity of the service?
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July 03, 2019, 06:59:41 PM
 #84

The Micropayment stuff is quite nice, overall NYZO is an extremely underrated Project.
Is the micropay feature trying to achieve something similar to what BAT is doing?

That's the fun part, pretty much anything is possible right now.
You could, if you wanted, build BAT upon Nyzo.
That's the power of the 32 bits of sender data and it doesn't require complex and faulty "smart" contracts as is the case with Ethereum.
The developer can choose the language which suits him right and can use the micropay faciliation to receive payments and deliver products.

A browser extension like Metamask to pay these micropay invoices or a mobile app would be the next idea, right now you still have to run the verifier codebase to run the Micropay client.
Once something like that is in place nothing is stopping people from building mobile apps which incorporate the micropay server, or a browser extension with micropayments for functionalities, or games, or netflix, ...

Really, the possibilities are endless here.
Something like MEGA but with clientsided file encryption before uploading it to the vendor seems to be the best approach for storage purposes.
It's about excluding trust in the vendor in that case. Then again you're expecting them not to disappear overnight with your encrypted files.
Veracrypt integration? What about longevity of the service?
Since blocks are consolidated I could image merely paying someone to host everything unconsolidated would be worth money.
That way your encrypted file can reside on the blockchain itself (hope that you use a very strong password then Wink) by splicing the HEX code and injecting it into transactions.
Something like blockchain.com but for unconsolidated block files.
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July 03, 2019, 11:18:05 PM
 #85

These are excerpts from the youtube video, I feel like they are relevant here


MSMW
Correct me if I'm wrong, but is there a concern that most verifiers are hosted on centralized cloud providers (like Amazon)?

Sanford
They can be moved at any time once in mesh. Sentinels protect them. Also the centralization argument goes nowhere. Electricity is pretty centralized. Bitcoin mining is pretty centralized at this point. Internet use at all is pretty centralized. It’s a real world issue that might be a “weak” point but it applies to almost all projects proclaiming decentralization 100%


Refortuna Analytics
This is a valid concern, I encourage everyone to spread their nodes across the IP landscape. Linode login screens were defaced and logins were jacked by hackers back in 2011/2012 targeting users who had bitcoin nodes running over there. So that shows the extent people will go to. The current top supporters of the network are AWS, vultr and hetzner. This could be better but can not be enforced. It is recommended to spread your nodes and sentinels across a variety of providers or even to run them locally in case of any outages/maintenace/hacks/.. This is part of the risk analysis.
 
Austin Gilbert
It seems to me an attacker would likely use cloud providers or bot-nets for their nodes. In the case of hosting on cloud providers, the attacker's nodes would be masks because they'd be coming from the same IP ranges as known good nodes. In the case of bot-net zombies, the IP addresses would be basically random...

I'm wondering how you could possibly distinguish between cloud providers/bot-net/valid participants? Doesn't seem possible.

Refortuna Analytics
@Austin Gilbert No, that is indeed not possible. The time constraint which is present is not present for PoW projects, this means that it would take a very long time to carry out such an attack and it would be a costly endeavor. Essentially the mathematical equations which PoW rests on have been substituted for time. This is ecologically more efficient and while an attack is still possible in the case of a persistent attacker which has a lot of funds and time available the likelihood of such an attack taking place is smaller than with a PoW system. The reason for this is that your verifier behaviour is individually extinguishable from other verifiers in the cycle, if you cast a vote to approve a malicious double spend with your 51% cluster everyone in the cycle knows you did so and they are able to act upon that. While the chain may suffer temporarily as the malicious nodes are excluded (which is the same for PoW to be honest) - the interval in which such an attack can take place afterwards is reset back to zero. This means that the attack has to spend a lot of time all over again to redo the attack. As also said both with PoW and PoD, if you abide by the consensus rules you actually get rewarded Nyzo and you make a profit. The consensus mechanism and its incentives ensure proper network conformity. Meanwhile the time progresses, nodes drop out due to unforeseen circumstances, VPS maintenance take place, networks go down, bills don't get paid or new nodes get added to the queue leading to a changed status quo for the attacker and less probability to get in the expected amount over a set period of time. Altogether this is as strong, if not stronger than PoW (atleast from a 51% perspective) and is at the same time ecologically responsible.

Austin Gilbert
​@Refortuna Analytics I wasn't disputing the fact it will take "longer" to infiltrate the network. I understand the attack would not be instantaneous as it would be on a pure PoW chain. I was disputing the claim that you would be able to detect infiltration happening, you can't.

And since I'm an attacker and I know you can't detect infiltration, I can send many more nodes at a time than you suggested. Perhaps the first month I send 100 nodes, then 200 the month after, then 400, then 800, until I have the 51% majority. To the network participants, my nodes would just look like a positive trend in uptake. And I wouldn't stop sending infiltrators when I hit 51%, I would just keep sending them. Why? Because they're cheap and I need/want to.

You see, it would not cost an attacker $1 or $2 per node as you suggest. I could get many nodes for free by joining Planet Lab (https://www.planet-lab.org/) for the cost of dedicating a cloud host or two to their project. And bot nodes actually only cost between $0.02 and $0.10 per node, an order of magnitude cheaper than your estimated cost per node (see https://threatpost.com/how-much-does-botnet-cost-022813/77573/).

In your example, to gain 51%, it would only take me around 7 months at a cost of around $630. And as you point out the infiltrators would be earning tokens while waiting for critical mass, so the attack might even be cheaper since the cost per node is offset by what they've been earning.
 
Austin Gilbert
I would also point out, while approving double spends is the most obvious thing a 51% majority could do, it isn't the only thing. Approving double spends would be a glaring red flag something was wrong, but there are more subtle 51% attacks. To name a few:

- censoring network transactions; meaning ignoring a subset of transactions and never adding them to a block created by my attacking majority (though they will likely still be included eventually if there was a cycle I didn't have a majority in)
- minting token more quickly than it should happen. why wait for the regular block interval when I can mint a block now and collect rewards faster?
 

Refortuna Analytics
@Austin Gilbert  These are interesting takes. I also never said that it is detectable, as I mentioned the drip feed example in the video.

Now considering the current price of an IPv4 block and the price of low tier VPSes and individual IPv4 proxies, I can not understand where you get the 0.10$ metric from.
Besides, the mere existence of a bot is not sufficient for it to have any eligibility to join the cycle, the node ought to regularly interact with the network to keep its position in the timetable and to stay up to sync.

You could certainly, slowly, ramp up the amount of nodes you are adding to the queue. They will all have to sustain a solid connection for 30 days and keep their blockchain in sync to become eligible to join at all. The incentive to sustain the attackers' operation by selling Nyzo is correct, however,  keeping them running in a conform manner and securing the network yields more future gains, whereas the malicious use of your nodes would jeopardize this income source.

Then there is the example of not including TXs which you are right about, you can however achieve that with any number of nodes. The not-included-TX can be included by the next node in line. There is the seed account which's transactions are pregenerated, no coinbase is present. But yes, in the case of a malicious 51% attack you do, in fact control many possible directions of the network, I can not deny that.

There have been talks in the discord about actively analyzing node behaviour to see if it corresponds 1:1 with the version they are broadcasting, something which could come of use in that case.

All in all you bring up very solid arguments and I am sure the development team would love to hear them / talk about it with you in the discord or by email.
 

Austin Gilbert
​@Refortuna Analytics did you follow the link to Threat Post? Actually, it seems YouTube has broken the link somehow. If you go to Threat Post and search for "botnet cost" it will pull up the article titled "How Much Does A Botnet Cost?". It might be a bit dated, but in 2013 you could buy 10,000 nodes in the US for $1000 - or $0.10 per node. Certainly, the quality of the nodes would likely vary greatly, so you'd probably have to over purchase due to loss of connectivity.

https://threatpost.com/how-much-does-botnet-cost-022813/77573/
 


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July 05, 2019, 12:07:57 AM
 #86

It's now possible to get free nyzo stickers in the us, europe and canada

https://twitter.com/nyzo_currency/status/1146930153622294528

direct link:
https://nyzo.net/stickers
panagot
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July 06, 2019, 04:52:17 PM
 #87

Discord community member f!nex has created an explorer for Nyzo!

http://nyzo-explorer.com/

Provide a little Bitcoin with bitfortip.com to give the incentive for people to search for you online in order to win the bitcoin reward.
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July 08, 2019, 06:53:43 PM
 #88

Information about the protection mechanism from the developers:

https://twitter.com/foxxxycrypto/status/1147630711458816000

"One reason I have become so interested in the $NYZO project is the dev's ability and willingness to engage/respond to issues from the community and general public.  Detailed responses regarding an issue raised on a recent YouTube video regarding 51% attack"
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July 09, 2019, 08:25:31 AM
 #89

Information about the protection mechanism from the developers:

https://twitter.com/foxxxycrypto/status/1147630711458816000

"One reason I have become so interested in the $NYZO project is the dev's ability and willingness to engage/respond to issues from the community and general public.  Detailed responses regarding an issue raised on a recent YouTube video regarding 51% attack"
Nice post! The ecologically friendly standpoint from Nyzo is an important one to remember.
The substitution of electricity for time is fascinating, why did it take 10 years for someone to look at it this way?
panagot
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July 11, 2019, 04:08:37 PM
 #90

Update regarding the dev-fund.

https://nyzo.co/buildingNyzo

Provide a little Bitcoin with bitfortip.com to give the incentive for people to search for you online in order to win the bitcoin reward.
ThebigTHICC
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July 12, 2019, 07:50:23 AM
 #91

Update regarding the dev-fund.

https://nyzo.co/buildingNyzo
So this basically pegs the remaining dev fund to the global tx volume and adoption.
If there is no adoption then the devs will not get many Nyzo in return.
This is quite a genius way of doing it in the sense that it incentivises them heavily to make this a success
nEglibb
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July 12, 2019, 05:01:45 PM
 #92

Update regarding the dev-fund.

https://nyzo.co/buildingNyzo
So this basically pegs the remaining dev fund to the global tx volume and adoption.
If there is no adoption then the devs will not get many Nyzo in return.
This is quite a genius way of doing it in the sense that it incentivises them heavily to make this a success
Exhilarating ! This was the main argument against it for a long time, now that this is out the way the worries are alleviated, very nice development
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July 15, 2019, 11:39:45 AM
Last edit: September 23, 2019, 02:55:16 AM by mprep
 #93

A handy calculator for new entrants has been made by a discord community member!

You can find it here: https://nyzo.today




Update instructions:

https://nyzo.co/updateInstructions

Provide a little Bitcoin with bitfortip.com to give the incentive for people to search for you online in order to win the bitcoin reward.
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July 27, 2019, 10:06:24 AM
 #94

can someone explian to me how i get coins when running it??

This should help clear things up, it explains the whole process of joining the cycle:
https://twitter.com/My_Altcoins/status/1153723195519901698
nEglibb
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August 09, 2019, 12:23:55 AM
 #95

The dev fund lock is about to become in effect.
No more worries about the dev fund  Shocked
panagot
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August 14, 2019, 08:33:09 PM
Last edit: September 23, 2019, 02:56:00 AM by mprep
 #96

NYZO is now listed at https://bihodl.com/

Deposit and withdraw instructions here: https://bihodlteam.zendesk.com/hc/zh-cn/articles/360031929792



A nice medium article where the team answered questions from the community throughout a several day period.

https://medium.com/@CryptoJungle/the-understory-series-nyzo-54d394c28c8f

Provide a little Bitcoin with bitfortip.com to give the incentive for people to search for you online in order to win the bitcoin reward.
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August 21, 2019, 11:56:55 AM
 #97

A nice medium article where the team answered questions from the community throughout a several day period.

https://medium.com/@CryptoJungle/the-understory-series-nyzo-54d394c28c8f

Yes it is an excellent article. Nyzo is really a great project

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panagot
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August 31, 2019, 11:38:21 PM
Last edit: September 23, 2019, 02:56:37 AM by mprep
 #98

https://twitter.com/nyzo_currency/status/1167863574443618305

Please upgrade to version 542+ before 2019-09-12 14:00:00.000 UTC, or you may be removed from the cycle.

https://nyzo.co/upgradeWarning



Setting up a Nyzo verifier and sentinel on a VPS

https://www.youtube.com/watch?v=HIF4RHoNx2U



Nyzo updated to  v1 blockchain version.

Developer funds are locked.



Nice Medium Article:

https://medium.com/@getshell3d/invest-in-blockchain-best-crypto-coins-2019-752b5b42c78f





NEW  $NYZO Developer fund update:
developers are forfeiting the entirety of the adoption-based developer fund to the cycle fund.

Read more here:

https://nyzo.co/buildingNyzo2

Provide a little Bitcoin with bitfortip.com to give the incentive for people to search for you online in order to win the bitcoin reward.
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September 20, 2019, 04:34:04 AM
 #99

NEW  $NYZO Developer fund update:
developers are forfeiting the entirety of the adoption-based developer fund to the cycle fund.

Read more here:

https://nyzo.co/buildingNyzo2
Yes, the devs now only hold 0.6% of the coins.
Dubrov12
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September 22, 2019, 12:03:05 PM
 #100

NEW  $NYZO Developer fund update:
developers are forfeiting the entirety of the adoption-based developer fund to the cycle fund.

Read more here:

https://nyzo.co/buildingNyzo2
Yes, the devs now only hold 0.6% of the coins.
And then where will you get development funds from? From investors?
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