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Author Topic: Introducing Storecoin zero-fee payments and p2p cloud computing platform  (Read 1221 times)
storecoindev (OP)
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August 02, 2019, 01:12:21 AM
 #121

When you saying 0 fee, you should explain how system know which transaction should be processed first! This is a main purpose of fees and blocks are limited in size!


Please see Slide 9 in this presentation. The transactions are *not* prioritized based on the transaction fee, but are processed as they arrive.
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There are several different types of Bitcoin clients. The most secure are full nodes like Bitcoin Core, which will follow the rules of the network no matter what miners do. Even if every miner decided to create 1000 bitcoins per block, full nodes would stick to the rules and reject those blocks.
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storecoindev (OP)
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August 02, 2019, 01:15:05 AM
 #122

When you saying 0 fee, you should explain how system know which transaction should be processed first! This is a main purpose of fees and blocks are limited in size!

How do they order the blocks (agree on previous and next block) if it is async/parallel?


Please see Slide 9 in this presentation. The consensus process essentially involves "agreeing" to assemble a set of transactions into the "next" empty block. The details are in the slide.
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August 02, 2019, 01:18:55 AM
 #123

Is blockfin protocol peer reviewed and formally verified? If not, how do we know it will do what it claims?


Public peer review is coming soon. In the meantime, a simulation of the consensus algorithm is published, which demonstrates nodes agreeing on the the same set of transactions for a block and ordering of the blocks in the presence of Byzantine actors.
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August 02, 2019, 05:29:41 AM
 #124

Is blockfin protocol peer reviewed and formally verified? If not, how do we know it will do what it claims?


Public peer review is coming soon. In the meantime, a simulation of the consensus algorithm is published, which demonstrates nodes agreeing on the the same set of transactions for a block and ordering of the blocks in the presence of Byzantine actors.

Why did you hire a bumping service to bump your thread? Don't you know this is a tactic primarily used by scammers? If you are dishonest enough to have to pay people to create fake buzz in your project, what does that say about the rest of your project? You obviously don't care about anything except for raising ICO funds.

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