Re: [ANN][XCP] Counterparty Protocol, Client and Coin (built on Bitcoin) - Official
An interesting introduction to the Chord and Kademilia algorithms is by a bitcoin developer here: http://offthelip.org/?p=149
Hey, thanks for the link. I read a few wikipedia articles, the BitTorrent things and searched the forum + mailing list, nothing really worth to share though. I heard Mike Hearn recommended TomP2P and if you are looking for an easy implementation in Python or C#, there you go.
Edit: FreePasteryTutorial might be worth to look at, too.You know, an interesting question to ask yourself is if it's totally ok to just embed a hash of the actual data in the blockchain, and rely on the data itself being made available by some DHT or something, why can't Bitcoin itself do that to make blocks smaller and improve scalability?
Remember that Bitcoin would work just fine if miners didn't validate transactions if clients implemented client-side validation, as is done in Mastercoin and Counterparty, and to a lesser extent, Colored Coins. What's so special about actually putting those tx's in the block?
Remember that Bitcoin would work just fine if miners didn't validate transactions if clients implemented client-side validation, as is done in Mastercoin and Counterparty, and to a lesser extent, Colored Coins. What's so special about actually putting those tx's in the block?
Availability of all messages to reconstruct the latest state, right? At least that's the problem I see. To a lesser extend: each client must have at least access to the full chain of all transactions that involves one of his wallets to reconstruct his final balance and this is not necessarily given by a DHT. Altering of messages could be avoided, if OP_RETURN hash == key == H(message).
Despite that, I'm still fascinated by the idea of on overnet, slightly related: if there were a mechanism of easy communication, people could send around CoinJoin transactions, establish channels for micropayments or open a communication line for multisig signing in general.