Post
Topic
Board Altcoin Discussion
Re: TexaiCoin Pre-Release Development Diary
by
Scumby
on 21/09/2014, 16:21:59 UTC
I have only a basic understanding of Bitcoin's internals, so if there is nonsense here due to my own ignorance I apologize.  I think you are doing a tour-de-force job of assimilating a wide cross-disciplinary breadth of ideas here, but I am concerned that the TexAI/Cyc ontology stuff is so alien to most developers that it could torpedo your adoption if you make it too front-and-center.  The AI integration into the CPOS "stew" feels a bit forced; it's evidently a treasured ingredient in your own intellectual "refrigerator" and provides you continuity with your AI work, but you're going to have a hard enough time getting mindshare without having to also persuade engineers that symbolic programming with ontologies is worthwhile for cryptocurrencies.  My .02.

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I think of KSI as envisioned above as a skip list of Merkle trees, with the skip list built around hashing that is one-way not only in calculation, but also in time.  It does this in a way that is far more bandwidth-efficient than replicating massive blockchains around like Bitcoin.  Guardtime markets this to governments as a way of signing documents and Linux OS log entries with keys that can't be tampered with, in order to defeat future Edward Snowdens from modifying system logs.  I think this same concept could be used for ledger integrity for micropayments as you note, or just about any kind of ledger for that matter.

The implementation envisions a newspaper or central service that would broadcast a top level hash, and providing this service (or enabling a central government agency to provide it, as is done in Estonia) is how Guardtime thinks it will make money.  A nomadic mint performing this function would seem to be preferable to a fixed commercial or government source. 

What has not been explored AFAIK, is what if the nomadic mint's KSI calculation had a publicly visible component that could be cross-checked by any client?  I.e. if the hash function had to mix in a widely observable source of chaos, such as the S&P 500 index closing price or solar flux index.  People might relax about cooperation if the public could "trust, but verify" the calculations of the population of nomadic mints subject to attack by a powerful adversary.  KSI + chaos could be immutable in the past (cannot reconstruct a historical hash with KSI) and the future (chaotic processes are immune to time series forecasting).