Topic: Altcoins With A Second Tier / Overlay Network eg Masternodes - page 2. (Read 2622 times)

Readers after puking up your coffee too, I suggest framing this statement and hanging it on the wall, as a reminder when looking back some year or two from now and see how this turned out.


 

I guess it takes one to know one.  

(never mind the well documented premine and reduction of the future coin supply fraud Evan is alleged to have done, just focus on your claim of his polymath abilities)

Hi Graham,

So I looked into it.  First of all, Evan is a genius.  I love all the things that he is doing on Dash.  By 2nd tier on Dash, it is the masternodes that are servicing APIs and special services.

The problem is that Dash started out as a fork of Bitcoin and Bitcoin code is shit for things like APIs so Evan built a network on top of it, which was great and something that nobody else has done in crypto, seriously.  In Bitcoin Coinbase has its own API, Bitpay has its own API, Blockchain.info has its own API and each small business building on Bitcoin just chooses one and it can't play well with any other company using a different API.  Evan is building a universal API so that people can connect to Masternodes for some of the transactions on Dash.  So now any company wanting to build on Dash can play with other companies.  As far as Bitcoin typish coins go, that is awesome and a huge improvement. To fund the masternodes though, to access those APIs small fees have to be paid to the masternodes.  

But.... NEM has a new architecture built from scratch which took care of this problem.  In NEM ALL wallets are light all the time and any wallet can access any node for any transaction safely and securely.  All API calls are also free, always.  

Let me just say NEM just didn't fix the API issue but a slew of other problems from the very first block.  It has addressed other issues with centralization of mining, making a 2.0 multisig that just works how you think (again with APIs and not Coinbase using their version and Blockchain.info using a diffrent one) with a lot more utility.  NEM also has names as domains 3 levels deep, assets that are highly configurable by so many criterion, messages on chain in normal, encrypted, and hex formats, a node reputation system to make sure only honest nodes are listened to, spam protection and so much more.  

Terminology is all over the place (thanks to eduffield), afaict the most general term is ...

https://en.wikipedia.org/wiki/Overlay_network


Cheers

Graham

What do you mean by a 2nd tier exactly?  And what does this 2nd tier really do?  

NEM was built with two tiers of architecture from day one with each part always being completely separate.  These two parts are servers and wallets.

The network of nodes have two tiers too though.  Regular nodes people run from home to harvest fees from making blocks based off of their PoI, and Supernodes which are nodes that may or may not harvest fees from making blocks (but in reality all do), and get additional fees paid to them for being high performance nodes.  http://supernodes.nem.io/

So the point of the super nodes are to secure a network with high bandwidth for all light clients.  NEM's lightwallet is written in 100% Javascript and run as single html file.  It needs some servers to connect to though so that is where Supernodes come in.  

All transactions can be performed via API in NEM, and of course lots of other things have APIs too.  And any 3rd party light client can communicate with any node (not just super nodes but any node) do do any API for any transaction always for free.  

NEM has an Android App and iOS app that are fully functional but in the last days of testing before official release to compliment the light wallet.  

Each NEM Supernode additionally acts as a web wallet provider for anybody that has made a pass phrase wallet.  These can be accessed via any web browser.  

I hate auto-in-correct. Lol

Spurious inclusion or inside knowledge?

I have an interest in creating such list (because DOACC). I'll publish as complete a list as I can assemble (at least for those alts which still have accessible code repositories).


Cheers

Graham

Blitz

Vanillacoin - Incentive Nodes (3rd tier)

http://vanillacoin.net/wiki/Technologies/Node%20Incentives.md

List of altcoins using a second tier such as Masternodes, by market cap

Dash - Masternodes
Spreadcoin - Servicenodes
BitCredit - Bank Nodes
Crave
Sling
MasterMint
Amsterdam Coin
CryptBit
NodesForAll
iCash
NEM
Transfer
Gridmaster
CryptoSpots
LIMX
ShellCoin
Vibranium
Eclipse ECP
Pharma
Vanillacoin
Blitz

Let me know of any others.