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Showing 20 of 143 results by Sparky_eMunie
Really exited to see the Whitepaper released! Have been waiting on this day since 2013 
I must admit I have a hard time getting my head around it though. So perhaps my question is already answered in the paper and I just didn't understand it...
So the Universe is split up in X shards. Each shard is a part of the network contain transaction information, right?
Now what happens if a bad actor (Bob) sets up a lot of nodes that store, say, Shard (2) of the network and by that stores all or at least the majority of that shard.
Now Bob sends a a payment to Alice in shard (3). Alice now asks a node serving Shard (2) if that transaction is valid. But as Shard(2) is controlled by Bob, can't he return false information and thus double spend transactions over and over?
I must admit I have a hard time getting my head around it though. So perhaps my question is already answered in the paper and I just didn't understand it...
So the Universe is split up in X shards. Each shard is a part of the network contain transaction information, right?
Now what happens if a bad actor (Bob) sets up a lot of nodes that store, say, Shard (2) of the network and by that stores all or at least the majority of that shard.
Now Bob sends a a payment to Alice in shard (3). Alice now asks a node serving Shard (2) if that transaction is valid. But as Shard(2) is controlled by Bob, can't he return false information and thus double spend transactions over and over?
Bob will have to send the commitment data (see white paper) along, and by checking the hashes of the merkle tree you can prove the (in)validity of any atom.
Re: Is any crypto truly scalable to a global scale? BTC, ETH, IOTA, DCR, PIVX...?
Currently they can't. From IOTA #tanglemath channel I've received an answer similar to this:
Tiny IOT devices like temperature sensors will connect to a proxy node and send the data. The proxy node will take the data and create a TX by doing the POW.
At a later time the sensors will be able to generate the POW themselves by using the JINN processor. This will be a trinary processor with extremely low power usage. Apparently they work since 2 years on that hardware, with CFB/BCNext as the chief architect.
Also remember IOTA is not a decentralized cryptocurrency.Tiny IOT devices like temperature sensors will connect to a proxy node and send the data. The proxy node will take the data and create a TX by doing the POW.
At a later time the sensors will be able to generate the POW themselves by using the JINN processor. This will be a trinary processor with extremely low power usage. Apparently they work since 2 years on that hardware, with CFB/BCNext as the chief architect.
Currently, and since 2 years back, the PoW done on the permissioned network is for illusion of security and marketing. It is the central authority called Coordinator node, which determines the state and consensus.
To be on topic: No coin can do what you ask of today, the most promising is Byteball.
This is not true. The coordinator is an optional compotent. You can configure your node to be part of the network without the coordinator. At the moment nobody is doing it, but it would be possible at any time. If done the network would work without the coordinator, but be suspensible to a 34% attack, just like BTC and ETH are today (51% is an urban legend).
I don't think Byteball is promising. Byteball is basically a clone of IOTA (the author says IOTA inspired him) with added fees, minus the coordinator, minus oracles, minus trinary math, minus the JINN processor, minus a scientific nonprofit foundation.
Re: OTC - Buy and Sell Elastic Coin Thread (XEL) - Always use escrow
Yes please ban LamboMoonYacht from this thread. He is a troll trying to lower the price in order to buy in cheap. He was banned from the main thread and all his posts were deleted.
As to the HEAT exchange: it's not decentralized. It's run by a guy in his parents cellar with manual BTC withdrawals 24 hours after you have done a sale.
As to the HEAT exchange: it's not decentralized. It's run by a guy in his parents cellar with manual BTC withdrawals 24 hours after you have done a sale.
I also noticed PandaWhale mentioned XEL on Twitter, but in the same Tweet he said it may already be overvalued.
This is FUD. PandaWhale said that some coins are overvalued, but not specifically XEL.
Actually he tweeted once that Golem market cap is a joke compared to XEL, as XEL is an almost completed product vs the wishful thinking of GOLEM.
Re: OTC - Buy and Sell Elastic Coin Thread (XEL) - Always use escrow
Selling another 10000 XEL for 2.4 BTC. Today only. Escrow a must.
why not tomorrow. are you busy tomorrow lol
It will be more expensive tomorrow.
Re: [ANN] [XEL] :: Elastic - The Decentralized Supercomputer ::
On the website https://www.elastic.pw/
what does "Elastic Coin knows XEL" mean?
Does it mean "Elastic Coin is known as XEL".
The "So We Have" is also very weird.
Please replace it with something like "Facts", and "Distributed Coin" with "Distributed Coins".
what does "Elastic Coin knows XEL" mean?
Does it mean "Elastic Coin is known as XEL".
The "So We Have" is also very weird.
Please replace it with something like "Facts", and "Distributed Coin" with "Distributed Coins".
Re: [ANN][XEL] Elastic Project - The Decentralized Supercomputer
Great to see Elastic coming closer to launch.
Just wondering: How does Elastic go about the halting problem?
It is a turing-complete network, right?
what's halting problem ?Just wondering: How does Elastic go about the halting problem?
It is a turing-complete network, right?
We have no conditional loops, or jumps so there is no "halting problem"!
Also, in ElasticPL we cannot store unlimited amounts of memory, its limited to 64000 ints, so by definition Elastic cannot be Turing complete!
How can you do any meaningful computation without conditional loops?
Wow this enormous speed in data confirmation perhaps would be interesting to design some fast blockchain usage for bussines, a blockchain bussines model, really nice dev of this project, i hope 2016 bring EMUNIE anly good news
The speed and transaction throughput of eMunie is there because it doesn't use a blockchain.
As reported by Bloomberg, the Commodity Futures Trading Commission has now ruled that bitcoin, the peer-to-peer digital currency, is a commodity. This means the CFTC can regulate it and punish evildoers.
https://www.equities.com/news/is-bitcoin-a-commodity-or-a-currency
well we both know how american financial commissions work.. look at their blindness around the sub-prime loans that they classed as good investments..
so i dont hold much 'water in the faith of american financial commissions.
i prefer to use logic, and understanding or the reality of things. rather than what classification sits in purely based to make the commision most profit via licences, fines, taxes and fees
Well, that's the difference between theory and reality. In theory BTC may be an asset and not a commodity, but in reality it is a commodity.
In theory a bottle of water is a harmless drink, but try to exlain that to the guys of airport security.
not a speculative digital commodity.
i have to point out another fundemental flaw in your economics understanding.
bitcoin never is, was or would be a commodity.
As reported by Bloomberg, the Commodity Futures Trading Commission has now ruled that bitcoin, the peer-to-peer digital currency, is a commodity. This means the CFTC can regulate it and punish evildoers.
https://www.equities.com/news/is-bitcoin-a-commodity-or-a-currency
The sentiment change would be:
A. the vast majority of traders would stop pumps & dumps, as they would not be profitable
B. few may try a coordinated pump & dump of an incredible amount in order to defeat the system buffer
it's not impossible to defeat the system (by exhausing the buffer), but because the buffer receives new currency during the pump, it's very difficult to accomplish.
With eMunie's economic model, BTC would be a digital currency, and not a speculative digital commodity.
A. the vast majority of traders would stop pumps & dumps, as they would not be profitable
B. few may try a coordinated pump & dump of an incredible amount in order to defeat the system buffer
it's not impossible to defeat the system (by exhausing the buffer), but because the buffer receives new currency during the pump, it's very difficult to accomplish.
With eMunie's economic model, BTC would be a digital currency, and not a speculative digital commodity.
thats the utopian dream if you are the only wallet service and the only exchange available..
again failing to see the sentiment of a open and free market.
IMHO in order to achieve mass adoption outside of the IT crowd a wallet service requires the following properties:
A. Fast payment. Customers are not willing to wait for more than 10-15 seconds for payment processing.
B. Value stability. After looking at the menu and ordering a steak dinner, customers cannot be expected to pay 10% more due to market instability when they are done eating.
C. Decentralization. The payment system should not be controlled and potentially manipulated by a bunch of people.
D. Scalability. Preferably scalable to Visa dimensions..
E. Easy of use. A grandma should be able to use it without a computer science course.
Currently everything available on the market fails on at least three of these five properties.
Bitcoin fails at A, B, arguably at C (huge block chain size, Chinese miners behind a slow firewall controlling a large portion of it), D (7 TX / sec) and arguably at E.