Post
Topic
Re: BYTEBALL: Totally new consensus algorithm + private untraceable payments
by
njbitcoin
on 24/04/2017, 23:17:16 UTC
Of course its free and open source software, https://github.com/byteball/byteballcore

You can also see the source of the transition bot.

I see you are returning to the same tactics. I'll paraphrase his concern.

Distribution is done in a centralized manner which requires to trust tonych unless there is a way to prove cryptographically that he can't send extra byteballs to himself without being caught. So now answer this: How is it possible to make sure that tonych (or who sends the byteballs) didn't abuse his power?

I too am trying to wrap my head around this whole concept. I have a small amount of BTC, but seems that this distribution will reward each full BTC with 65.2mb? Huh? so each BTC I hold in a linked wallet will then earn a distribution of 0.062 GBYTE Coin? Interesting way to distribute. At first made me very suspicious..... (the book "To Serve Man" was a cookbook.... that is all that kept running through my head as I considered it),  but obviously I would not be sharing private key... so what could go wrong?  Of course it also seems unlikely that motives are completely altruistic, but if this system is as groundbreaking as it seems to be, it would secure it's inventor's legacy.