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Showing 20 of 146 results by mda
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Board Development & Technical Discussion
Re: Are blockchains truly distributed systems?
by
mda
on 20/09/2020, 08:41:31 UTC

Less storage and less bandwidth than now but control of emission is still maintained.


That didn't make any sense.

User verifies all transactions in his shard to ensure that no extra coins are injected by miners - control of emission.

You said that miners/stakers are required to have all the shards. That is NOT sharding, and it makes a full node lesser than what it is in a non-sharded network.

We don't care about miners' wishes and requirements, through competition they will bear any block size as long as it brings in profit. Shards are created to accommodate reduced storage and bandwidth capacity of users.

These shards are detached from each other, basically being independent currencies. But it's not something unheard of, throughout history people have been operating in parallel standards - gold, silver, copper. In the USA there were multiple coins before establishment of the Federal Reserve. Even now people in borderline zones carry two or three sorts of banknotes in there wallets. So if a technically sound and scalable solution could long term stop corruption and legalized theft then I would say these conversions between independent currencies/shards would look like minor inconvenience.
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Board Development & Technical Discussion
Re: Are blockchains truly distributed systems?
by
mda
on 19/09/2020, 13:45:38 UTC
But what you posted DIDN'T maintain decentralization, it simply redefined a non-mining full node to be lesser than in a non-sharded network.

Less storage and less bandwidth than now but control of emission is still maintained. Think of these shards as cloned altcoins with shared (and very high) hashrate.
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Board Development & Technical Discussion
Re: Are blockchains truly distributed systems?
by
mda
on 19/09/2020, 06:37:16 UTC
All shards? Doesn't that NOT change anything except make a non-mining "full node" less than what is in a "non-sharded" blockchain?

Yes, that and 1000x bigger transaction throughput, and 100x bigger market cap. All while security and decentralization stay unchanged.
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Board Reputation
Re: MemoryDealers RogerVer scamming people again
by
mda
on 01/09/2020, 15:28:22 UTC
Go shill them and their shit somewhere else.
Well, that's quite ironic, my registration being 6 years older than yours.
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Board Reputation
Re: MemoryDealers RogerVer scamming people again
by
mda
on 01/09/2020, 14:27:35 UTC
BCH is all right, at least they don't have crazy BTC transaction fees but increased block size has been a mistake leading to centralization. I think only Roger Ver and Jihan Wu would be able to implement this and to bury Blockstream and their Lightning Network in the process:

https://bitcointalk.org/index.php?topic=5109561
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Board Development & Technical Discussion
Re: Are blockchains truly distributed systems?
by
mda
on 31/08/2020, 13:23:20 UTC
Curious. What cryptocurrency has implemented sharding successfully, and how does transfer of value happen between shards?

https://bitcointalk.org/index.php?topic=5109561
None has implemented it though, otherwise BTLightning would have already crashed.

Because what I want to know is, if miners/stakers are required to have all the shards, or trust their peers for the integrity of each shard?

Miners mine all shards, users verify few, one or none.
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Board Development & Technical Discussion
Re: Bitcoin Security vs Quantum Computing
by
mda
on 27/05/2020, 00:53:20 UTC
You don't need to worry if you don't expose public keys (address reuse). Even if the network shuts down for a while your coins will be safe and developers eventually will figure a solution.
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Board Development & Technical Discussion
Re: What is stopping people from running their own full node?
by
mda
on 13/05/2020, 02:31:07 UTC
There is no point to run full node when the network doesn't scale. Price charts look good but with 7 transactions per second bitcoin is still in an experimental stage.
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Board Development & Technical Discussion
Re: Creating semi-nodes to sustain the network
by
mda
on 11/05/2020, 13:51:49 UTC
If you're looking for scaling it's that way, one or two halvings from now.
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Topic
Board Development & Technical Discussion
Re: Drivechain critiques by gmaxwell revisited, maybe you changed your mind?
by
mda
on 12/03/2020, 15:45:49 UTC
Drivechain is a nebulous structure that few can explain and almost none cares about. There is a simple working construction of multiple altcoins/shards with common PoW and unified interface. Atomic swaps between altcoins/shards can be implemented natively to bypass centralized exchanges:

https://bitcointalk.org/index.php?topic=5109561
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Board Development & Technical Discussion
Merits 1 from 1 user
Re: Bitcoin’s race to outrun the quantum computer
by
mda
on 10/03/2020, 18:19:53 UTC
⭐ Merited by Cnut237 (1)
I've been looking for later news on the web, but not found much. Presumably (hopefully) the discussion has moved on considerably since 2016. If anyone is familiar with the latest discussions on this topic, please respond in this thread!

I'm unsure if it counts as a considerable move but my imagination has stopped there.

https://bitcointalk.org/index.php?topic=5191219.msg52769870#msg52769870
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Board Development & Technical Discussion
Merits 1 from 1 user
Re: Idea: using Atomic Swaps to make Bitcoin invoices less prone to volatility
by
mda
on 08/03/2020, 03:13:31 UTC
⭐ Merited by aliashraf (1)
There is another idea to use atomic swaps to erase volatility:

https://bitcointalk.org/index.php?topic=5109561.

With few thousand shards bitcoin price rises to one million and twenty trillion market will be much harder to move than the current one.
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Topic
Board Development & Technical Discussion
Re: Mining IP Addresses
by
mda
on 22/02/2020, 17:14:13 UTC
I think what he means is one that knows miners' IP addresses can gather and lock them all up. Greetings, the cryptocurrency problem has been solved. Therefore cryptocurrency without onion router isn't a viable concept.
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Board Development & Technical Discussion
Re: Interesting way to get millions of people run full nodes.
by
mda
on 12/02/2020, 04:24:49 UTC
Unfortunately unlike mining Bitcoin people who run a full node is only running at a cost without really earning anything, they do this voluntarily in order to keep the Bitcoin network up and running.
People invested in bitcoin run full nodes to verify what miners are doing and not to keep some network up and running. There aren't many full nodes because current bitcoin implementation is congested, dysfunctional and unusable as peer-to-peer payment system.
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Board Development & Technical Discussion
Re: Interesting way to get millions of people run full nodes.
by
mda
on 11/02/2020, 01:07:48 UTC
There are many ways to scale on-chain like
https://bitcointalk.org/index.php?topic=5109561.
However those millions of people seem to be genuinely uninterested and for now bitcoin is mostly used for trading futures and options by HNWIs.
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Topic
Board Development & Technical Discussion
Re: Proof of Stake technical dicussion
by
mda
on 21/01/2020, 22:06:14 UTC
Proof of Stake and Lightning Network require private keys to be online, so both are security disasters. No wonder they are getting support and funding from certain headquarters.
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Topic
Board Development & Technical Discussion
Re: Miner Question
by
mda
on 10/01/2020, 11:53:28 UTC
LN steals transaction fees from BTC for it's offchain network
Transaction fees can go trough the roof so it isn't a problem as many on this forum will reassure you.
The problem is LN dependence on timelocks that will wreak havoc on the world if level 1 gets disabled for an extended period of time.
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Topic
Board Development & Technical Discussion
Re: MIner Question
by
mda
on 10/01/2020, 05:18:04 UTC
There is a third way that makes possible small fees and small blocks, all secured by huge hashrate.

Sharding strategy held together by atomic swaps

Hopefully after halvings rational BCH/BSV users and miners will move that way and current BTC will become BLN.
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Topic
Board Development & Technical Discussion
Re: Will Bitcoin EVER have a bigger blocksize? Is there hope?
by
mda
on 27/12/2019, 19:52:13 UTC
Bitcoin Cash still has a block time of 10 minutes, which is makes it terrible for micropayments.

To be fair, any cryptocurrency is terrible for micropayment unless it has very fast block time (e.g. 10 seconds). People and cashier don't want to wait 10 minutes (or even 30 seconds) to wait a transaction confirmed.
With 2-of-2 multisig address where both merchant and customer park the same amount fast block time isn't necessary, even 24 hours blocks will work just fine.
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Topic
Board Development & Technical Discussion
Re: BlockReduce: Scaling Blockchain to human commerce
by
mda
on 10/12/2019, 04:05:34 UTC
Here is another idea along these lines for you

https://bitcointalk.org/index.php?topic=5109561.

It's basically a big package of altcoins with a built-in swapping mechanism where linear grow of block size leads to exponential grow of throughput.