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Author Topic: WAVES | Ultimate crypto-tokens blockchain platform | unofficial supporters topic  (Read 32159 times)
MaGNeT
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November 23, 2017, 06:06:50 PM
 #941

Traffic jam on the blockchain highway



edit:
* situation 1h later:



Hehe, looks like someone was really testing the blockchain Smiley

After the Waves-NG launch we can handle 8.6 million transactions per day (100tx/s) and it can be increased to at least 86 million transactions per day when needed.

Should be enough Wink Worlds most adopted cryptocurrency, Bitcoin, can only handle ~650,000 tx/day.

Unofficial Waves topic: https://bitcointalk.org/index.php?topic=2142722   |   My Waves address alias = magnet
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November 23, 2017, 06:15:38 PM
 #942

Source: http://wavescommunity.com/alex-kofman-qa-summary

Quote
Last Friday we’ve held a live Q&A session with Waves Platform Project Manager, Alexey Kofman.
In case you missed it or just want to recall something, here’s the summary.
This is a full version of the session, we keep original punctuation and even typos.

Enjoy reading!

Welcome, @alexkof
Alexey: Hi everyone! 🙂  Let’s start

Q: Hi Alexey. What are the plans for new GUI beta tests. Will it be a closed beta? Will the testing happen on mainnet or testnet?
Inga: We’re announcing closed Beta later today, it’s planned for Monday, Nov 20th, as announced earlier
A: I mostly work with backend team developing waves node, rather than UI

Q:  what exactly is your job at waves? not your position, but in general what do you do and what are you currently working on and what are some future plans? maybe a short summary of things:)
A: My role is closer to product manager of waves node and in general our blockchain. I’m defining requirements of new features and build development team. Currently mostly thinking about Waves-NG and a bit of planning for future changes like Smart Contracts.

Q:  Alexey what are next plan for matcher? Any plans to parallelize the matcher so that miners can profit from that?  With standard dex gui i mean
A:  No particular plans. Our matcher has a very good balance between centralized and decentralized exchanges. It generates a lot of transactions and already gives income to our miners and traders.

Q:  How is that? The fees for dex transactions don’t go to the nodes or do they?
A:  DEX generates Exchange Transactions with fee=0.003 waves and it goes to miners

Q:  Which part of it goes to the matcher and which to the nodes?
A:  I think almost all goes to miners, but it depends of number of partial fills of particular orders. I can share formula after this session

Q:  Could you explain MRT’s usecase?
A:  We want miners and leasers to have more profit, it’s simple 🙂

Q:  How? Plz explain more detail.
A:  If you look at bitcoin, it has rewards model based on inflation (creating new coin) we have MRT. One can sell it or hold. We plan to use it in miners voting a bit later, when prepare needed tools 🙂

Q:  I think what YeonJun might be getting at is that being rewarded with MRT is not a use case for MRT.  We would be interested to know what utility it has within the network to give it value.
A:  Once we introduce voting system, which means next year 🙂

Q:  How will you implement smart contracts? Design a new language?  Or use Scala/Java?  As smart contract language
A:  We want them to be simple and cheap. We’ll use sigma-language which allows to define expression for fast validation on transaction. Close to bitcoin scripts and very useful. Then we’ll be able to extend it as needed.

Q:  Are there any plans for allowing leasing in IOS app or any of the new portfolio functions from Waves NG?
A:  Leasing function will be done in mobile apps soon, as I know

Q:  Hi Alexey! 2 questions: Will we have the Blockchain OS beta on the 20th? Will it have the complete history of our transactions and transfers?
A:  For OS we have a bit separate team doing it. Yes, we will extend API, we need to have all the method to accessing all data apps may need. Please send your requests to me personally if you need something like this

Q: Waves-NG  has been stressed tests, are there currently any other test ongoing and what kind of tests?
A: Stress-test was really good, we have testet new node version and identified some issues. Now we are fixing them and preparing for next testnet build. Currently only internal tests on devnet.

Q: Technically why someone should use waves instead of ethereum or other options?
A: 1. Easier to create your token. 2. You don’t lose money because of bugs in complicated smart contracts. 3. Transactions are cheaper

Q:  Hi. Why is for node only 1k and before it was 10k? And why don’t you set max for 1 node at 100k. In this case big nodes stay and we small will have lot of incompetent nodes with small amount
A:  We want more decentralization so min limit should be low, but I understand that with 1k-10k you have too few blocks generated anyway. So need some balance here

Q:  For a developer who is thinking of creating smart contracts, and hesitate between ethereum and waves. Which has a lower learning curve.
A:  When Waves contracts are ready it will be easier to learn them I guess, but still there is a difference. You should choose based on your particular task.

Q: Will we have a solution to have better control of our open orders in DEX?
A: What do you mean? Can you list some examples?

Q:  cancel all open orders easily
A: Yes, now you cannot get all orders for all pairs, this will be possible with DEX API in future. And we should make it’s more simple with new DEX UI.

Q: is the dev team properly staffed or are you still looking for additional developers?
A:  We have 8 high-skilled senior Scala-developers, I can say that this is one of most professional teams I’ve ever worked with. Maybe we will get some other roles like QA or Analysts in future.

Q:  Will you make steps in reducing the wavesgo share and make sure it is more proportional given the number of waves that is leased to it?
A:  In short term we motivate people to lease to small nodes giving more MRT to them. In long-term we’ll upgrade our POS algo, not only making it more precise, but also more secure.

Q:  Anything in the pipeline that might attract new users ? besides waves-ng
A: New Wallet for users, for developers we’ll have Data Transactions allowing to store extra data, Smart Contracts, etc…

Q:  Will new UI go on beta the 20th and can it go mainnet before NG??
A:  New UI doesn’t depend on NG, I’m not sure what will be first NG activation or new Wallet

Q: How will you implement smart contracts? Design a new language?  Or use Scala/Java?
A: We want them to be simple and cheap. We’ll use sigma-language which allows to define expression for fast validation on transaction. Close to bitcoin scripts and very useful. Then we’ll be able to extend it as needed.

Q: You state you can do 100 transactions per second, can WAVES -NG be pushed to do more or is this it’s limit?
A: Yes, it can. But we need to decide together. If we are ready to spend more miner’s resources to do this. Currently 100tx/s is ok for our demands. Then we’ll work on node’s optimization and increase it when needed.

Q: Will new UI go on beta the 20th and can it go mainnet before NG??
A: New UI doesn’t depend on NG, I’m not sure what we’ll be first NG activation or new Wallet

Q: When will we see something new on mainnet?
A: This month definitely

Q:  Alex, do you plan implementation of atomic swaps on the platform in the Waves next year?
A: We don’t plan. Our goal is to make smart contracts which will allow this. And then community can implement if there is a demand for this.

Q:  Are there any plans regarding anonymous transactions?
A: Currently no plans for anonymous transactions. But this is possible in future.

Q: That’s strange. I’ve seen Sasha mention anonymous transactions many times. Is this just something in his head? 😂
A: Yes, Sasha has a lot of things in mind, I mostly think about features we are going deliver in nearest future

Q:  Hello, I’ve got a question regarding 2FA. As I’ve read it’s planned to be implemented in the future. If so, any idea when? And how will it work? Will nodes send confirmation to users and validate transactions afterwards? Thanks
A: Actually there are several ways to implement this. If you want to confirm tx from two devices, we can use multisig account and appropriate services and UX for 2FA. But we can design different ways as well.

Q: Matanzas Ronaldo:  In your opinion if guys execute everything you’re capable of are you bigger than ethereum? How quickly could that happen ?
A: I don’t know, this is difficult to predict

Q: Alex,tell me , in the system of voting ,which will be implemented next year, will involve the current WCT and MRT?
A: It will be generic system, one can use his tokens for voting. We will use MRT and WCT

Q:  Hey @alexkof  Any change Waves will get listed on Korean exchanges any time soon? BitThumb and such? ( I know we get Upbit today btw)
A:  We have separate people working with exchanges and there are lot of new exchanges coming, but I’m not aware of exact ones

Q: How do you plan to achieve decentralization? Don’t you think the current top nodes (wavesgo and wavesnode) are too big already? Why should people care to lease to other pools?
A: It’s more profitable now since the small nodes get more MRT. In future a lot of small nodes and their stake will grow

Q: Will the closed beta of the new UI work in a similar way like the closed iOS DEX beta?
A: I don’t know, Inga will tell you later 🙂

Q: Alexey there is any kind of minimum hw requirements to run a full node?
A: Yes, but it can be changed with NG. We’ll finalize hw requirements before release to mainnet this month.

Q: What stack is used in backend?
A: Node is in Scala

Q from Slack: Any new gateways going to be added soon or will it be left to community? If it is going to left to the community how will security/trust be ensured?
A: Good question, but I’m not aware of this. So many people working on different parts of the platform 🙂

Q: Hi Alexey. Could we transfer aliases to other wallets in the near future?
A: No it’s not possible and will not be possible. Register one for yourself, not for sale 🙂

Q: Are you planning on building another developer team for making not so important features?
A: Actually yes. Voting system may be developed by separate team, we’re still thinking on this. We’ll also create a team for another blockchain projects, not so closely related to Waves Platform.

Q: We’ll also create a team for another blockchain projects, not so closely related to Waves Platform <—– Huh
Tell us more about this please 😁
A: Such ones>> Q. Don’t suppose there have been any recent developments with any of Waves strategic partners you can share? From the likes of Burger King, Deloitte, Gazprombank, People of Growth, Kazakhstan, Kuna Exchange…Some states also may want national crypto-currencies 😉

Q: “As a Waves token, MRT can be transferred and traded freely on Waves’ decentralised exchange (DEX)”
As far as I know I paid fees for trading and sending MRT and WCT. Will there be a refund?
A: No 🙂

Q: Is there someone working on 2FA already? Any estimation on the implementation date?
A: We need to introduce Smart Contracts first – this is first step, then 2FA

Q: Don’t suppose there have been any recent developments with any of Waves strategic partners you can share? From the likes of Burger King, Deloitte, Gazprombank, People of Growth, Kazakhstan, Kuna Exchange…
A: This is a question to address marketing or business development, not technical PM

Q: @alexkof when next time Stout?
A: Come to Moscow, there is a lot of beer 🙂

Q: When Putin endorse waves
A: Isn’t he already?

Q: If so can you just make him tweet to buy Waves?
A: He doesn’t have twitter account 😀

Alexey: Thanks everyone, I think the session is finished, a lot of good questions!
Inga: And that’s it, folks!
Thanks everyone for joining the Q&A session, I’ll post the summary to wavescommunity.com on Monday.
Thank you, Alexey!


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Join Waves Telegram channel: http://t.me/Wavescommunity
Join Waves Twitter: http://twitter.com/wavesplatform
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November 23, 2017, 06:20:41 PM
 #943

yes, it's in good levels again :-)

until recently I saw 100-200 txs queued up, first time seeing so many

Traffic jam on the blockchain highway



edit:
* situation 1h later:



Hehe, looks like someone was really testing the blockchain Smiley

After the Waves-NG launch we can handle 8.6 million transactions per day (100tx/s) and it can be increased to at least 86 million transactions per day when needed.

Should be enough Wink Bitcoin can only handle ~650,000 tx/day.
BTCMILLIONAIRE
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Today at 02:50:46 AM
 #944

Good read, thanks for linking @Turing.

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Today at 07:38:14 AM
 #945

Traffic jam on the blockchain highway



edit:
* situation 1h later:



Hehe, looks like someone was really testing the blockchain Smiley

After the Waves-NG launch we can handle 8.6 million transactions per day (100tx/s) and it can be increased to at least 86 million transactions per day when needed.

Should be enough Wink Worlds most adopted cryptocurrency, Bitcoin, can only handle ~650,000 tx/day.

Should be enough atm, but if the DEX start to attract a lot of new users, the nodes will have to be optimized

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Today at 07:47:49 AM
 #946

Traffic jam on the blockchain highway



edit:
* situation 1h later:



Hehe, looks like someone was really testing the blockchain Smiley

After the Waves-NG launch we can handle 8.6 million transactions per day (100tx/s) and it can be increased to at least 86 million transactions per day when needed.

Should be enough Wink Worlds most adopted cryptocurrency, Bitcoin, can only handle ~650,000 tx/day.

Should be enough atm, but if the DEX start to attract a lot of new users, the nodes will have to be optimized

That is a really big push. It is understandable that there might be some sort of delays when having so much traffic. How many transactions a second would you expect when the new Dex ui will be up and running?

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Today at 07:52:42 AM
 #947

Traffic jam on the blockchain highway



edit:
* situation 1h later:



Hehe, looks like someone was really testing the blockchain Smiley

After the Waves-NG launch we can handle 8.6 million transactions per day (100tx/s) and it can be increased to at least 86 million transactions per day when needed.

Should be enough Wink Worlds most adopted cryptocurrency, Bitcoin, can only handle ~650,000 tx/day.

Should be enough atm, but if the DEX start to attract a lot of new users, the nodes will have to be optimized
It would have to attract more users than currently exist. So there's more than enough time to scale before it's required for Waves.

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Today at 09:02:17 AM
 #948

Traffic jam on the blockchain highway



edit:
* situation 1h later:



Hehe, looks like someone was really testing the blockchain Smiley

After the Waves-NG launch we can handle 8.6 million transactions per day (100tx/s) and it can be increased to at least 86 million transactions per day when needed.

Should be enough Wink Worlds most adopted cryptocurrency, Bitcoin, can only handle ~650,000 tx/day.

Should be enough atm, but if the DEX start to attract a lot of new users, the nodes will have to be optimized

That is a really big push. It is understandable that there might be some sort of delays when having so much traffic. How many transactions a second would you expect when the new Dex ui will be up and running?

IDK but 100tx/s should be enough Grin
And even if it's full, it doesn't really matter to wait a few seconds before it's executed.

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Today at 09:53:56 AM
 #949

waves is going to be a TSUNAMI soon prepare your boats folks





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the_future_now
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Today at 09:55:24 AM
 #950

If 100tx/s is "enough", why does the waves team spend budget on the whole waves ng thing? ;-)


Traffic jam on the blockchain highway



edit:
* situation 1h later:



Hehe, looks like someone was really testing the blockchain Smiley

After the Waves-NG launch we can handle 8.6 million transactions per day (100tx/s) and it can be increased to at least 86 million transactions per day when needed.

Should be enough Wink Worlds most adopted cryptocurrency, Bitcoin, can only handle ~650,000 tx/day.

Should be enough atm, but if the DEX start to attract a lot of new users, the nodes will have to be optimized

That is a really big push. It is understandable that there might be some sort of delays when having so much traffic. How many transactions a second would you expect when the new Dex ui will be up and running?

IDK but 100tx/s should be enough Grin
And even if it's full, it doesn't really matter to wait a few seconds before it's executed.
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