dzimbeck (OP)
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Activity: 2412
Merit: 1044
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July 07, 2014, 07:05:01 AM |
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Ok, so after reading white paper... is this the gist of it: alice makes pk1 and pv1
bob makes pk2 and pv2
bob creates tx1 which puts funds into "temp funding account"
tx1 is not relayed
bob sends alice his pk2 and the txid for tx1
alice makes multisig account with bob's pk2 - "escrow"
alice creates tx2 which puts funds into "temp funding account 2"
tx2 is not relayed
alice creates tx3 which puts funds from tx1 and tx2 into "escrow"
alice signs tx3
alice creates txTimeout which puts 99.9% from tx3 to miners
alice signs txTimeout
alice signs tx2
alice sends bob tx3 and txtimeout, but keeps tx2 private
bob creates txTimeout2 which puts 99.9% from tx3 to miners
bob signs tx1, tx3 and txtimeout2
bob sends alice tx1, tx3 and txtimeout2
alice broadcasts tx1, tx2, and tx3
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example 1:
alice sends bob £50 for 0.2BTC agreed by both alice/bob
alice puts 0.00005btc into escrow, bob puts 0.2btc into escrow
alice creates transaction paying herself 0.2btc from escrow
signs it and sends to bob.
after receiving money, bob signs transaction and alice is paid.
if no money is received... bob loses 0.2btc to locked account
Yeah thats about right lets see... it pays to 6a now not miners because we dont want collusion. There is many more little tricks to it than that and I do lots of things to avoid malleability. The escrow funding I think is about a thousand+ lines of code and maybe another thousand+ for escrow checking. 7000 lines total in the main. However example one is not double deposit escrow. Double deposit would be: Alice wishes to buy 1 bitcoin ($600) so she sets a contract with Bob 1 BTC purchase 1BTC deposit for him and 1 BTC for her. So Alice 1 1 Bob 1 $600 Bob starts out with the advantage but both are stuck in escrow Alice: -1 -1 +$600 Bob: -1 -$600 Deposits returned funds released to bob upon confirmation... Alice: $600 Bob: 1BTC |
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"Bitcoin: mining our own business since 2009" -- Pieter Wuille
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Lauda
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Activity: 2674
Merit: 2965
Terminated.
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July 07, 2014, 08:03:34 AM |
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This is excellent. I'm not sure that everyone has yet realized how important it is.
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"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks" 😼 Bitcoin Core ( onion) |
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TheCoinFinder
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Activity: 938
Merit: 1001
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July 07, 2014, 08:27:22 AM |
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Ok, so after reading white paper... is this the gist of it: alice makes pk1 and pv1
bob makes pk2 and pv2
bob creates tx1 which puts funds into "temp funding account"
tx1 is not relayed
bob sends alice his pk2 and the txid for tx1
alice makes multisig account with bob's pk2 - "escrow"
alice creates tx2 which puts funds into "temp funding account 2"
tx2 is not relayed
alice creates tx3 which puts funds from tx1 and tx2 into "escrow"
alice signs tx3
alice creates txTimeout which puts 99.9% from tx3 to miners
alice signs txTimeout
alice signs tx2
alice sends bob tx3 and txtimeout, but keeps tx2 private
bob creates txTimeout2 which puts 99.9% from tx3 to miners
bob signs tx1, tx3 and txtimeout2
bob sends alice tx1, tx3 and txtimeout2
alice broadcasts tx1, tx2, and tx3
----
example 1:
alice sends bob £50 for 0.2BTC agreed by both alice/bob
alice puts 0.00005btc into escrow, bob puts 0.2btc into escrow
alice creates transaction paying herself 0.2btc from escrow
signs it and sends to bob.
after receiving money, bob signs transaction and alice is paid.
if no money is received... bob loses 0.2btc to locked account
Yeah thats about right lets see... it pays to 6a now not miners because we dont want collusion. There is many more little tricks to it than that and I do lots of things to avoid malleability. The escrow funding I think is about a thousand+ lines of code and maybe another thousand+ for escrow checking. 7000 lines total in the main. However example one is not double deposit escrow. Double deposit would be: Alice wishes to buy 1 bitcoin ($600) so she sets a contract with Bob 1 BTC purchase 1BTC deposit for him and 1 BTC for her. So Alice 1 1 Bob 1 $600 Bob starts out with the advantage but both are stuck in escrow Alice: -1 -1 +$600 Bob: -1 -$600 Deposits returned funds released to bob upon confirmation... Alice: $600 Bob: 1BTC Yeah, I removed a few things to simplify the overall (such as the tx4 part where alice sends "fee + penalty" in tx2, then spends "penalty" in tx4 - meaning if the txid changes (due to making it malleable), she loses the penalty - which bob/alice agree beforehand. |
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XbladeX
Legendary
Offline
Activity: 1302
Merit: 1002
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July 07, 2014, 09:05:29 AM |
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This is excellent. I'm not sure that everyone has yet realized how important it is.
At the end it will bring P2P protocols on next lvl. Look at that you wont sell something in BTC/BC and you aware of scam. Eg. I want buy Steam cd key but i fear that i will be scammed. Key cost 0.1 BTC. Me and seller are setting 0.1 BTC contract i am sure that he wont won't scam me. Ok guys now best... CD key is invalid not enable to use on eg EU servers so i talk to seller it is not working. When seller sell key ot other person and that one use it he cancel 1st order(or setup new refund contract) that way both HONEST buyer and seller are always secured. Scamers will always avoid this systemThis can be truly revolutionary especially in crypto where is so many SCAMS. |
Request / 26th September / 2022 APP-06-22-4587
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UrsaMajorisBeta
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July 07, 2014, 02:14:38 PM |
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Once this starts picking up.....boom!
BC could be the new LTC. This innovation is way ahead the rest of cryptos.
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▀▀▀▀▀▀▀▀▀▀▀▀▀▀ | | | | | FIRST P2P BETTING PLATFORM | | | | | TRY NEW BETA FIFA WORLD CUP | | | | | [ | | See our website: | | ] |
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dzimbeck (OP)
Legendary
Offline
Activity: 2412
Merit: 1044
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July 07, 2014, 02:47:22 PM |
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So when will the world see? This technology benefits everyone. Of course it benefits dark markets and freedom lovers. But even moreso it benefits consumers and employers. It benefits people who have no way of buying crypto. It benefits china and removes the fear of a ban. It eliminates 3rd parties which brings the cost down of everything. So........ whats up
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megamann
Newbie
Offline
Activity: 6
Merit: 0
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July 07, 2014, 04:53:50 PM |
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Once this starts picking up.....boom!
BC could be the new LTC. This innovation is way ahead the rest of cryptos.
Agreed. This will unseat Litecoin guaranteed. I own DC too but this is clearly superior. |
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megamann
Newbie
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Activity: 6
Merit: 0
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July 07, 2014, 05:03:47 PM |
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Once this starts picking up.....boom!
BC could be the new LTC. This innovation is way ahead the rest of cryptos.
Agreed. This will unseat Litecoin guaranteed. I own DC too but this is clearly superior. I will add I expect to see BC break $2 in the short term. Long term likely much higher. |
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chrissibel
Sr. Member
Offline
Activity: 336
Merit: 250
Got Crypto?
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July 07, 2014, 07:40:56 PM |
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This is amazing work. Great job!
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noerc
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July 08, 2014, 01:59:37 AM |
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Great blackcast David. Can't wait for the linux release of your groundbreaking software.
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poncrypto
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July 11, 2014, 04:19:53 AM |
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Really amazing work guys!
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johnnystjohn
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Activity: 53
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November 24, 2014, 04:07:45 PM |
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Is there a new thread for this?
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thedok
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November 24, 2014, 04:42:41 PM |
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well done blackcoin
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dzimbeck (OP)
Legendary
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Activity: 2412
Merit: 1044
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September 11, 2015, 08:29:24 AM |
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Is there a new thread for this?
Same thread, this is the only BlackHalo thread, no need to start another. Plus, the newest client is really awesome maybe one day people will start caring about crypto and use the software made for it. |
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Financisto
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January 17, 2016, 05:03:35 AM |
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Is there a new thread for this?
Same thread, this is the only BlackHalo thread, no need to start another. Plus, the newest client is really awesome maybe one day people will start caring about crypto and use the software made for it. OMG, I really don't know why this thread remains so small after almost 2 years of intensive and active development over this outstanding project. Halo's team have my admiration for doing so much without presale coins, ICOs, IPOs, crowdfunding etc. Congratulations! Price Growth, no more volatility
An upcoming revolutionary change is coming to crypto-currency in the Halo platform. We are working on a currency that has the ability to inflate and deflate. Interest rates are controlled by votes and thus, users can grow their own coin in a stable fashion ending the era of the infamous “pump and dump”. You will be able to sell reserve bonds, perform advanced contracts and be your own bank. For Blackcoin, this sister currency will be a stable hedge adding health to the economy. Isn't that idea already available and developed by the Nu project? "currency that has the ability to inflate and deflate" = Nubits"interest rates are controlled by votes" = Nushare holders vote Nubits' supply and park rates. Wouldn't just be easier integrating that cryptosystem inside Halo? |
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alexcfr
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February 11, 2016, 09:12:30 AM |
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Hi david,
can you post some news of the developpement on this thread ?
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dzimbeck (OP)
Legendary
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Activity: 2412
Merit: 1044
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March 13, 2016, 10:31:09 AM |
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Is there a new thread for this?
Same thread, this is the only BlackHalo thread, no need to start another. Plus, the newest client is really awesome maybe one day people will start caring about crypto and use the software made for it. OMG, I really don't know why this thread remains so small after almost 2 years of intensive and active development over this outstanding project. Halo's team have my admiration for doing so much without presale coins, ICOs, IPOs, crowdfunding etc. Congratulations! Price Growth, no more volatility
An upcoming revolutionary change is coming to crypto-currency in the Halo platform. We are working on a currency that has the ability to inflate and deflate. Interest rates are controlled by votes and thus, users can grow their own coin in a stable fashion ending the era of the infamous “pump and dump”. You will be able to sell reserve bonds, perform advanced contracts and be your own bank. For Blackcoin, this sister currency will be a stable hedge adding health to the economy. Isn't that idea already available and developed by the Nu project? "currency that has the ability to inflate and deflate" = Nubits"interest rates are controlled by votes" = Nushare holders vote Nubits' supply and park rates. Wouldn't just be easier integrating that cryptosystem inside Halo? The thing is, the Nu project is not decentralized and it uses custodial wallets and elective parking. Its basically front running. And this system I'm making is not any of that. It works like so: You control the total supply by allowing miners to vote for +1% or -1% inflation/deflation. When the total supply deflates, individual inputs are deflated. Thus if the total supply is 50% deflated and you have a coin that was never spent since 100% you need to pay 50% back to yourself frozen This creates 2 classes of coins frozen and liquid. It also creates premium and subpremium liquidity based on the rate and input is set to deflate. In summary, you can turn a 1 billion supply of coins into a 999 million frozen and 1 million liquid coins increasing the price artificially. This mechanical/decentralized control of price is not limited to $1 in NuBits case but actually allows holders to set any price they see fit. Supply and Demand the most basic law of economics in existence. Control that and you control price. If Supply < Demand price goes up. If price seems too high inflate and Supply < Demand price will go down. And thanks, yeah i agree, the project has come far. The new client has decentralized markets and is very stable. More templates are headed our way for easier interaction with smart contracts. |
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dzimbeck (OP)
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Activity: 2412
Merit: 1044
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March 13, 2016, 10:35:03 AM |
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Hi david,
can you post some news of the developpement on this thread ?
Yeah sure, the project is still very much alive. Both BlackHalo and BitHalo have advanced tremendously. The most recent client has decentralized markets and templates. The first template "Cash for Coins" is already live. It allows you to post to the market with a price tracker that tracks the fiat value of your sale. This is perfect for new users who just want to buy their first crypto. Combined with unbreakable contracts its like a localbitcoins totally decentralized and trustless. The custom template can still do anything you put your imagination too. And the new client translates to over 92 languages and has an updated pay to email system. The rest of the templates will be finished this year completing Halo. If time allows and the protocol is robust enough, i will complete NightTrader as well (I've yet to decide if microtrading is a marketable way to do decentralized exchange because of waiting for confirmations) |
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lightpuma
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June 25, 2016, 07:36:31 PM |
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This is amazing. Don't know why this isn't bigger.
Best of luck. So many innovative ideas in one.
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