I've loaded the client and made a few test transactions and naming assignments. In those basic tests it all seems to work fine with only cosmetic issues.
My question (to beta testers, fellow investors and potential investors, and qora) is, how can we verify that the code implements functionality like:
- prevent double spends
- uses PoS to achieve consensus, and prevent 51% (90%? 99%?) attacks
- prevent transaction replays
- prevent transaction malleability
- handle fork-related scenarios correctly
- ensure no new funds are generated after equivalent of genesis block
etc?
This is especially important as we have no access to readable code, and it is not based on any existing cryptocurrency code.
Also, related to the IPO:
- Will qora be distributed proportional to BTC invested (after 10%/20% early-invest bonus is factored in)?
- Are any qora funds set aside for other purposes (e.g. kept by dev for bounties), or will 100% be going to investors?
- Will the dev be investing directly or indirectly?
- Is there a plan for the BTC invested during IPO (e.g. earmarked for bounties, mintpal extortion fees, etc)?
- double spends are prevented by using a reference system. Simply said whenever you make a transaction you have to include the signature of your previous transaction. You can check this by looking at the details of your transactions.
- The proof of stake algorithm uses a combination of randomness, your generating balance and the time since the last block to determine if a new block is valid. Currently there is no protection against 51% attacks. I will create a detailed explanation of how the system works.
- Transaction replays are handled by the reference system.
- All the transaction data is signed so transaction malleability should not be a problem.
- You should be able to check the total amount in existence by scanning all addresses and adding up their balances.
- Qora is distributed proportional.
- 100% goes to the investors I will invest a small amount the last day of the IPO to make it fair. I might use these for bounties or keep them for myself. When someone does not claim their share in time(2 months) that share will be used for bounties.
- The BTC invested will be used to develop and maintain this currency. No concrete plans has been made about this.
I understand your concerns about the fact that for most of your questions you will simply have to trust me.
I see that the beta client is having some problems with synchronizing.