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Author Topic: Idena is the first Proof-of-Person Blockchain  (Read 44086 times)
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August 06, 2021, 10:04:39 AM
 #2101

What are the minimum requirements for computer performance?

Remember, to be able to mine you must validation first and the number of mining coins available every day is 25,920 IDNA per day for each node that is active and successfully validates.
Next validation will be on August 12, 2021 at 08.30 PM (UTC +7). You can use Google Chrome or other browsers to validation,

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August 12, 2021, 09:03:13 PM
 #2102

The number of people who successfully validated increased by 10% from the previous epoch. I think this number will increase greatly if developers support the emergence of an official mobile application from Idena that can be used for validation anywhere.
Not everyone has a greater opportunity to carry a laptop or macbook than a smartphone. Smartphones are more flexible and can even reach many people. With the expansion of users, a larger Idena community network will be formed.

Is there any news regarding the official release of the Idena app for smartphones?

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August 15, 2021, 07:42:03 AM
 #2103

The number of people who successfully validated increased by 10% from the previous epoch. I think this number will increase greatly if developers support the emergence of an official mobile application from Idena that can be used for validation anywhere.
Not everyone has a greater opportunity to carry a laptop or macbook than a smartphone. Smartphones are more flexible and can even reach many people. With the expansion of users, a larger Idena community network will be formed.

Is there any news regarding the official release of the Idena app for smartphones?

But you can make validation using Idena Web App on your phone. Or use app developed by community dev:

"Dear Idena community,

There is an Idena mobile app developed by @reddwarf03:

https://apps.apple.com/us/app/my-idena/id1535914607

https://play.google.com/store/apps/details?id=io.reddwarf.my_idena

It's a community-driven development that could be supported with Idena foundation wallet funds.

We have blocked 5000 iDNA (https://scan.idena.io/address/0x7a7c9eb1ff4e7df0889637bc3b19a38b8bedcf19) using the OracleLock (https://github.com/idena-network/idena-desktop/wiki/OracleLock) smart contract. In case of 51% support, the funds will be automatically unlocked in favor of the wallet of @reddwarf03.
"
https://t.me/IdenaAnnouncements/688

Access to validation is not the thing that limit network grow. Its the token price. Currently with 8$ per epoch (12$ per month) from mining and around 10$ from rewards total 22$ minus 8$ for VPS = 14$ its not worth the effort for many. As soon as price will pump network will come back to 20% growth per epoch just like during Aug-Sep 2020.
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August 15, 2021, 11:17:53 AM
 #2104

If I could remember I have Idena invitation before but I forgot about this project, I would like to know what's the status of the Idena or where I can find the announcement or news about the project. I really do miss the verification part however the time zone is a little bit on my location and some times I do missed this part.

ya.ya.yo!

.
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August 15, 2021, 11:47:54 AM
 #2105

If I could remember I have Idena invitation before but I forgot about this project, I would like to know what's the status of the Idena or where I can find the announcement or news about the project. I really do miss the verification part however the time zone is a little bit on my location and some times I do missed this part.

ya.ya.yo!

lucky for you 15 days ago devs prepared "Idena Chronicles'

https://medium.com/idena/idena-chronicles-ea6577c1c335

You can find there everything that happens in and around IDENA.

There is also Idena Announcements channel on telegram where Devs announce everything together with validation reminders and validation results.

https://t.me/IdenaAnnouncements
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August 21, 2021, 03:16:57 AM
 #2106

are you one of the members who developed the blockchain Huh Huh, it is as you mentioned earlier that each blockchain does not require money, only materials such as lattops and others are needed to be able to participate in any blockchain. Grin Grin

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August 21, 2021, 10:25:54 AM
 #2107

Idena being mentioned at EthCC4


https://www.youtube.com/watch?v=0ss-uSsPpRw

Proof of Humanity protocols being mentioned by Vitalik as much important outside DeFi


https://www.youtube.com/watch?v=oLsb7clrXMQ

If vitalik is interested in IDena technology with proof of humanity, it seems very interesting if etherium will have a partnership with idena for voting systems on blockchain, and maybe in the future IDena will become a pioneer of proof of humanity, for voting on presidential elections of a country, is that possible?

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August 21, 2021, 05:37:39 PM
 #2108

If vitalik is interested in IDena technology with proof of humanity, it seems very interesting if etherium will have a partnership with idena for voting systems on blockchain~
Vitalik doesn't specifically mention Idena. Though, he does have some awareness about Idena and talk a little bit about it. Take a look at https://disqus.com/home/discussion/vitalik-ca/hard_problems_in_cryptocurrency_five_years_later/#comment-4701734342. I know it from the idena FAQ site that created by @realRioda

and maybe in the future IDena will become a pioneer of proof of humanity, for voting on presidential elections of a country, is that possible?
I don't think it would be beneficial to use things like this, it would be overkill. Also, they won't do it for a sovereignty reason, and I don't understand why it should be used PoH, they already have all of our identity.
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August 21, 2021, 08:46:53 PM
 #2109

and maybe in the future IDena will become a pioneer of proof of humanity, for voting on presidential elections of a country, is that possible?

i think that people too often sees blockchain technology as a best solution for every problem. Its expensive and slow. It applyies only in situation where you dont want to relay on any centralized organization. Like bitcoin. If you need a hedge against global monetary system you dont want to use for this purpose an asset that is in any way centralized.

While during voting you take part in centralized event. Centralized elections to choose centralized authority that will rule the country in a centralized way. Country that knows all your data ... even more than you think they know.

If vitalik is interested in IDena

Vitalik, former coinbase CEO ... who else ?? Smiley There are many different rumors but they are all kinda unlikely with coin evaluated at 5 mln $. Freaking 5 mln $. I just cant bealive its so cheap.

BTW If anyone need invitation - PM ME
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August 21, 2021, 10:36:33 PM
 #2110



Vitalik, former coinbase CEO ... who else ?? Smiley There are many different rumors but they are all kinda unlikely with coin evaluated at 5 mln $. Freaking 5 mln $. I just cant bealive its so cheap.

BTW If anyone need invitation - PM ME

Thank you for giving me an invitation code I miss mining Idena, this is one of the news that made me want to comeback mining Idena, I just knew this is one of the projects that has potential in the market soon, I still have my IDENA I mine months ago but I want to continue mining and get an update on the continuous development of Idena

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August 22, 2021, 12:39:10 PM
 #2111

Thank you for giving me an invitation code I miss mining Idena,

No problem. Good luck with validation. If you need more codes for friends/family members feel free to PM me.

this is one of the news that made me want to comeback mining Idena, I just knew this is one of the projects that has potential in the market soon, I still have my IDENA I mine months ago but I want to continue mining and get an update on the continuous development of Idena

I don't think that any of rumors that big players such as vitalik or coinbase CEO are interested in IDENA is real:

Thanks realRioda. We need more technical stuff here. Hope to see more post like that in future.


I will pass here a rumour about coinbase. Telegram community is pretty excited about that and that's why i decided to copy/paste it here. Note that this is only a rumour. Judge it by yourself.


Quote
@jerkasscapital let me sum it up:

the project team is anonymous but there is this one known and related image from the main dev: https://ibb.co/nmZ4S4L same image was also posted as the profile pic of the initiator of the initial meetup group in berlin (where it all started): https://secure.meetupstatic.com/photos/member/9/e/2/b/highres_289840491.jpeg but the thing is, it's an AI generated image.

then there is Graham Jenson. seemingly unrelated to IDENA but, he wrote this article: https://maori.geek.nz/proof-of-human-2ee5b9a3fa28 and there he is basically talking about IDENA. he is describing the whole concept there. now Graham Jenson isn't just someone, he is the Infrastructure Tech Lead at Coinbase... https://blog.coinbase.com/@GrahamJenson

notice how similar the image of Graham and Andrew is. the image from Andrew is generated from the image of Graham. and notice also how it says "New Zealand" here https://ibb.co/nmZ4S4L and that Graham is connected to that too: https://twitter.com/GrahamJenson/status/998080157394132993

and another thing: the IDENA node is coded in Go: https://github.com/idena-network/idena-go and Graham definitely is working hard with Go too: https://github.com/grahamjenson and https://maori.geek.nz/golang-desktop-app-with-webview-lorca-wasm-and-bazel-3283813bf89

last hint: https://cdn.discordapp.com/attachments/693765642662182913/703714929307287563/unknown.png this is talking about a RPC interface that the IDENA node has. interestingly, this plays perfectly into Coinbase profiles: https://cdn.discordapp.com/attachments/693765642662182913/703715019132502054/unknown.png

question is, what is more likely: project is a side project from Coinbase employee or actually a secret Coinbase project...
https://t.me/idena_trading/19581


Quote
Furthermore: Idena team had access to seed investors. You gotta know people to have access to private equity like that, which lends credence to the idea this isn't just a run of the mill project by a bunch of nobodies with an idea, but actually a secret project by a large institution.

Though they could just have someone with a good finance background on the team, who knows.
https://t.me/idena_trading/20853

Mainly because of how low Marketcap Idena is. If vitalik o Graham Jenson was involved in Idena wouldn't they want to invest a bit? A bit for them are couple millions ... more then whole marketcap.
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August 27, 2021, 06:59:10 PM
 #2112

I just cant bealive its so cheap.

Well believe it... It will stay this cheap for a long time imo if the things won't change. I don't want to spread fud but, that's the reality.
And the reality is that the price is the same since late 2019 i know because I'm in Idena and mining since the epoch was 3 days back in 2019 and the price was ~$0.1, and its been only gone up 3x as ATH to near $0.3.
Here are the 2 reasons I personally see why the price tanked for so long and nothing will change, unless something will change:
 - 1. Inflation. Near 20 millions (18.9M if my memory serves - like Dash&Monero total supply) inflation per year is a lot... Let's think about it: in 5 years from now, circulating supply will be 3 times more than it is now and from an investor perspective this is a lot.
 - 2. Reward for miners is very low, and many leave (selling their coins), new one come, old ones leave... is a cycle, I can understand but on Idena is very aggresive. There is very little money to be made as miner (6 coins per block / 8000+ miners => ~3.2 coins / day / miner). I know makes no sense, I want more coins for miners and I want the inflation reduced. No. I think reducing the number of miners is the way.

Again this is my pure opinion about Idena. I may be wrong, I may not.

Peace!


realRioda
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August 27, 2021, 09:31:52 PM
 #2113

Uh, when I joined, validations were 5 days apart, there were no exchanges so DNA, yes DNA, traded OTC in the discord for 125 sats which was $0,01 at that time. So $0,01 to $0,30 that was 30x.
But I think that this is still early on. I'm interested in ads and how will they drive additional burning of iDNA and how will that reflect on future price.

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August 28, 2021, 03:27:39 AM
 #2114

Uh, when I joined, validations were 5 days apart, there were no exchanges so DNA, yes DNA, traded OTC in the discord for 125 sats which was $0,01 at that time. So $0,01 to $0,30 that was 30x.
But I think that this is still early on. I'm interested in ads and how will they drive additional burning of iDNA and how will that reflect on future price.

3 days, 5 days.. you got the point (I know that it was very short since at the time was pissing me off the constant validations Tongue )

As for the price, I was talking at what price had started, not at what price went after a while ...

36 million premine to 0.1$ price at this moment(i asked to buy from team and they offer me DNA to 0.1$) ...

Anyways, I'm o hodler, so I hope I am wrong. Wink

Tytanowy Janusz
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August 28, 2021, 07:08:27 AM
Last edit: August 28, 2021, 07:54:37 AM by Tytanowy Janusz
 #2115

Anyways, I'm o hodler, so I hope I am wrong. Wink

Yes you are wrong Smiley

- 1. Inflation. Near 20 millions (18.9M if my memory serves - like Dash&Monero total supply) inflation per year is a lot... Let's think about it: in 5 years from now, circulating supply will be 3 times more than it is now and from an investor perspective this is a lot.

Inflation presented in number of coins is useless. You should always devide it by number of coins in circulation.

51,840 coins per day = 18,9 mln coins per year - here you are correct

Circulating Supply 47,718,592.04 IDNA

Inflation for next year - 39% - yea that big but idena is 2 year old. Inflation will go down with every year because number of coins in circulation will go up. In 5 years from now (7 year old coin) inflation will drop to 13%. (in fact much lower because of burns - ~100k each epoch and expected burns in future from ads)

Bitcoin while being 2 year old had inflation around 50%, 7 year old bitcoin has inflation around 10%. Current CAKE inflation is around 200% (150% if you consider that some of newly minted coins are burned).

So inflation is not the case that IDNA is only 5 mln $ coin.

- 2. Reward for miners is very low, and many leave (selling their coins), new one come, old ones leave... is a cycle, I can understand but on Idena is very aggresive. There is very little money to be made as miner (6 coins per block / 8000+ miners => ~3.2 coins / day / miner). I know makes no sense, I want more coins for miners and I want the inflation reduced. No. I think reducing the number of miners is the way.

Rewards are low because price is low. Not because miners should get more coins becasue more coins = bigger inflation = even lower price = even lower rewards. So in this point you state that price is low because price is low.

So p1 and p2 contradict each other. You cant lower inflation in the same time make higher reward.

But in the end of the day the only sensible conclusion from point 2 is that ... price is low and 5 mln $ for innovative coin with 8000 nodes is insane.
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August 28, 2021, 02:39:31 PM
 #2116


Rewards are low because price is low. Not because miners should get more coins becasue more coins = bigger inflation = even lower price = even lower rewards. So in this point you state that price is low because price is low.

So p1 and p2 contradict each other. You cant lower inflation in the same time make higher reward.

But in the end of the day the only sensible conclusion from point 2 is that ... price is low and 5 mln $ for innovative coin with 8000 nodes is insane.

As I've stated in the first place at p2, I know it contradicts, that's why I've suggested that the miners number needs to get lower, not inflation higher. Tongue

Time will tell if I am wrong or not...

Cheers!

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August 28, 2021, 02:48:32 PM
Last edit: August 28, 2021, 03:18:45 PM by Tytanowy Janusz
 #2117

As I've stated in the first place at p2, I know it contradicts, that's why I've suggested that the miners number needs to get lower, not inflation higher. Tongue

So you are saying here that lower number of nodes will be better for IDNA price? Thats the oposit of what logic say. Lower amount of nodes = less secured network (creating centralized 100 node farm and attack network is easy, creating 100 000 centralized node farm is impossible). The whole point of idena is having as much nodes as it is possible to attract advertisers, to be faster and cheaper (with sharding) and many many more. First time I hear that destroying coin fundamentals (forcing nodes to quit to lower nodes amount) will benefit the price.
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August 29, 2021, 05:29:43 AM
 #2118

As I've stated in the first place at p2, I know it contradicts, that's why I've suggested that the miners number needs to get lower, not inflation higher. Tongue

So you are saying here that lower number of nodes will be better for IDNA price? Thats the oposit of what logic say. Lower amount of nodes = less secured network (creating centralized 100 node farm and attack network is easy, creating 100 000 centralized node farm is impossible). The whole point of idena is having as much nodes as it is possible to attract advertisers, to be faster and cheaper (with sharding) and many many more. First time I hear that destroying coin fundamentals (forcing nodes to quit to lower nodes amount) will benefit the price.

I agree about the nodes (more is better), but not all nodes should be miners imo. If all nodes are miners, how can you stop coin dump from let's say 100K nodes (from your example)? Let's assume 50% are selling, 50% are holders, that's a lot of coins reaching the market.

I think a mechanism can be done, to reward more the holders and less the dumpers. This can be achieved through different ways, For example, if an identity kill itself to get the stake out should get less coins (this can be done easy using the identity age) and / or if a node-miner (since on Idena is the same thing) get's out more than 25% of the wallet, should have the reward decreased, maybe introducing a minimum DNA amount to join the mining pool will help the price and will also separate miners from nodes (like some sort of masternodes), if you like.

Regarding the coin age, can be done a tier and nodes can get increasing rewards with age, stimulating nodes to not leave the network, miss validation or kill the identity. BTW, anyone knows what is the point of identity age right now?

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August 29, 2021, 06:07:01 AM
 #2119

I agree about the nodes (more is better), but not all nodes should be miners imo. If all nodes are miners, how can you stop coin dump from let's say 100K nodes (from your example)? Let's assume 50% are selling, 50% are holders, that's a lot of coins reaching the market.

It's already like that. Older nodes gets more coins from validation. Also gets coins from making flips (0 epoch node don't do flips for first validation and can do less flips for first few epochs), do not have an option to invite someone and get invitation rewards before epoch 5?. so person who is killing his node each epoch is mining like 2 times less than 5 epoch old account thanks to validation rewards. 5 epoch old account is a 100 day hodler... that super long comparing to average in crypto.

About coins outside of stake - you cant block people from spending their coins its not what its all about ... all you will get is making new nodes enter the network harder = slower network grow = lower fundamentals. You need to build use-cases that will burn coins (like ADS network that should be done in this year) and other activities. You need to make access to idena as easy as possible. Otherwise you will make all this dumpers to join farms, because farms will pay them after each epoch from coins dumped from older nodes while holding "dumper" node coins till "full node maturation day" to dump without penalty.

Its not tokenomics what makes idena to be locked in super low cap coins range. Its lack of marketing and big exchange. Not surprising. Before validation sharding price explosion is dangerous.
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September 11, 2021, 08:42:49 AM
Merited by Tytanowy Janusz (2)
 #2120

Let me add my 2 cents to your conversation.

Any coin needs quick and constant growth of its metrics (not price!) in order to draw attention of investors - smart people with some money. And only after this attention is drawn buy orders start to grow. Most of people behave some kind of opposite to investors - they see price pumps and then start to pay their attention to that asset and even buy it hoping of further growth. This is a losing strategy for most of the people besides maybe small portion of really smart traders.

So, the main thought here is that you need to have some parameter or characteristic of your blockchain which is rapidly growing and outperforming other rivals. For Idena these parameter are number of unique users (identities) and full nodes number. An interesting thing is that in idena each identity automatically implies miner. So every user which takes part in validations automatically gets his small reward. This is mind boggling property in terms of potential user base size. Besides, these consecutive validations are very interesting and entertaining events on their own, they seem like online multiplayer game or some kind of smart mob event. So validations naturally draw people's attention without any guaranteed rewards. People join the network just for fun, regardless to its current market capitalization, emission, price, etc.

I bought Idena at average price of $0.04 in the beginning of 2020. At that time the network did grow every epoch exponentially and I was sure that made a right decision of buying it. But then some technical and scaling issues started to appear. People could not connect the network right before validations and thence their identities were kicked out and then killed (I mean 'suspended -> zombied -> killed' cycle). So the growth started to decline of even go back. For now I think it is obvious that Idena need sharding in order to continue its growth.

So the team recently has announced 27th hardfork which includes long awaited sharding:
https://medium.com/idena/idena-hard-fork-announcement-validation-sharding-ca910bac3599

I hope that this technolodgy will help Idena in terms of scaling. And when (and if) that happens we will see investors putting their money in Idena massively.

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