Also, regarding "instant transactions":
As the name implies the transaction verification is executed at blazing speeds, allowing to have more than 50 confirmations within a second.
WOW, that sounds amazing! But...
That transaction is temporarily stored in local memory of all the active nodes that participated in the confirmation process, until the next block is generated.
60s block generation timeframe
How could they be "instant" if blocks are generated every 60 seconds? I think the Node developers are misusing the term "confirmation". Going by their definition, every cryptocoin in the world has instant transactions!
Nice try to take things out of context.
Here's the full statement in the WP:
"Blocks
As accepted by the crypto community the Node’s Ledger is a conceived series of blocks linked together in a chain - referred as Blockchain. The Ledger or Blockchain provides a transparent access to all the transactions that had or will happen in Node.
There are major differences between Node’s implementation of the blockchain concept, le’ts examine them:
No Empty blocks;
Lightweight;
60s block generation timeframe;
Double verification;
In comparison with other major cryptocurrencies such the 1st gen. Bitcoin and 2nd. gen. Nxt, Node doesn’t create empty blocks on top of already secured existing blocks, this measure assures quality over quantity. Forgers are rewarded with value, which increases their activity in the long run, the blockchain doesn’t get bloated and verification takes less time. Due to the fact that blocks are created only on a demand basis, it gradually minimizes its size. Allowing for faster download and synchronization, this way reducing the physical size required to operate it locally, and amount of buffer to load it.
As already mentioned in the transaction section, blocks are generated on a demand basis, if there is at least 1 valid transaction the block is generated by the selected forger. So the indicator here is time, after a transaction is validated by the network, it automatically starts a countdown of 60 seconds, if more transactions are made within this timeframe, all of them will be included in the current block. The cron will restart after a new transaction is validated. These formula allows a maximum of 1440 Blocks per day ( 24h x 60s intervals). "
So to put it simply, I'm sure they meant that a block is created ONLY if within those 60 seconds there is a transaction, if there is no transaction, block creation is skipped and the timer restarts and scans for new transactions. This slims down the block chain by not creating empty blocks and thus creating a smaller blockchain. After those 60 seconds, if a block is created then that block will be trasmitted and instead of waiting another 60sec for another confirmation. That block will be confirmed almost instantly.
From the whitepaper:
Node relies on an new mechanism for a secured an equitable forging process.
I don't think this is a fair statement, as the forging mechanism that Node is
planning on using has already been done by Crypti. The Node developers should give credit to Crypti.
Source code is not even released, yet you want to claim it's a copy. How so if you don't even know how it actually was coded and how it really works.
