Topic: [ANN] ¤ DMD Diamond 3.0 | Scarce ¤ Valuable ¤ Secure | PoS 3.0 | Masternodes 65% - page 14. (Read 1260245 times)
February 16, 2021, 04:42:27 AM
February 14, 2021, 01:23:35 PM
Those are some really solid characteristics being implemented. DMD is a good coin. Perhaps 5/5 for tech with this release. 400 tps is still not enough to be a global currency but for store of value it's very sufficient. I don't buy in to the scarcity argument since the coins are divisible. Scarcity won't matter until the coin value is more than a million usd and you notice there is no way to get a cent and then the scarcity is arguably a negative. However it is sort of a fun fact in the mean time that there are so few DMD out there and it has a slight irrational appeal just like the diamond branding, I don't think it's the main selling points though. Being one of the earliest alts alive and that also had a fair launch is however very good for the credibility of this coin and with current development and low price it's actually a good time to get in now imho.
low amount of total coins add no value at all
fixed total coin cap and a revolutionary system how validators and dpos stakers can get endless rewarded
and still the total cap of coins will never raise that add value!
we created a true sustainable coin economic framework
1st of its kind in cryptospace
more details can be found in whitepaper:
https://bit.diamonds/DMD_WP.pdf
February 14, 2021, 09:59:54 AM
Those are some really solid characteristics being implemented. DMD is a good coin. Perhaps 5/5 for tech with this release. 400 tps is still not enough to be a global currency but for store of value it's very sufficient. I don't buy in to the scarcity argument since the coins are divisible. Scarcity won't matter until the coin value is more than a million usd and you notice there is no way to get a cent and then the scarcity is arguably a negative. However it is sort of a fun fact in the mean time that there are so few DMD out there and it has a slight irrational appeal just like the diamond branding, I don't think it's the main selling points though. Being one of the earliest alts alive and that also had a fair launch is however very good for the credibility of this coin and with current development and low price it's actually a good time to get in now imho.
February 14, 2021, 09:15:31 AM
February 14, 2021, 06:45:57 AM
DMD Diamond v4 whitepaper is now public!
https://blockfolio.com/coin/DMD
https://bit.diamonds/DMD_WP.pdf
https://blockfolio.com/coin/DMD
https://bit.diamonds/DMD_WP.pdf
February 13, 2021, 08:46:08 AM
is there an ETA on DMD4
February 12, 2021, 01:26:09 PM
original on medium:
https://dmd-diamond.medium.com/how-we-increased-the-decentralization-of-hbbft-with-a-dpos-based-node-election-mechanics-9740f9385749
----------------
How we increased the decentralization of HBBFT with a dPoS based node election mechanics
HBBFT is an amazingly performant asynchronous leaderless consensus model, but on its own it doesn’t guarantee decentralization. Read on to find out how DMD4 leverages the delegated Proof-of-Stake model to create one of the most decentralized blockchains out there.
What makes HBBFT so fast & efficient — and why it wasn’t enough for DMDv4
HBBFT, or Honey Badger Byzantine Fault Tolerant consensus algorithm, is very different from PoW and PoS, in that it’s cooperative, not competitive. In PoW networks like Bitcoin and Ethereum 1.0, miners obviously compete for the right to add a block, and that means a huge waste of resources — plus a long wait until the necessary number of confirmations are received.
In PoS blockchains, there is no wasteful mining, but whoever has the largest stake will also have the highest chance of adding a new block, so the ‘fattest’ nodes (usually staking pools) earn statistically more rewards — and grow even faster. In those systems that feature voting, this also means more influence over the system. For example, recent research found that in Cosmos, Kava, and Tezos the top 10 validators have more than 40% voting power — a very disturbing result.
HBBFT (created in 2016) solves the resource-wasting and speed issues. Its consensus is leaderless (every node can propose transactions) and asynchronous (there’s no set block time), and block finality is instant. However, HBBFT in itself doesn’t ensure decentralization: there is a maximum of 20–30 static validator nodes, and in theory, you could even run it with just one node.
dPoS + HBBFT: a power combo for 100% decentralization
When we began work on DMDv4, we quickly understood that HBBFT was the way to go to maximize transaction throughput and reliability (rather than the PoS + Masternodes model used in DMDv3). However, we needed a way to ensure that no single node or group would gain control over the network. The answer was POSDAO — a decentralized autonomous organization framework. It was developed by the same team that wrote a code library based on the original HBBFT research paper. We made a few further tweaks to increase decentralization even further, and here’s the result:
— Random selection of validators. At the start of every 12-hour epoch, the system randomly selects up to 25 validators from the pool. The chances to get selected depend on how many coins are staked on them. Thus, the most trusted nodes will have a statistical advantage.
— Rewards are shared between a validator and their delegates. In DMDv4, you need to stake at least 10,000 DMD to become a candidate. Other users can stake their DMD coins on you, and if you are chosen as a validator for the next block, your stakers will receive up to 70% of the resulting reward. This is a strong incentive for all users to participate in the delegation.
— No more than 50,000 DMD per candidate. This staking limit comprises both the candidate’s own stake and all the coins staked on them by other users. This solves the issue of disproportionately large nodes hogging all the rewards, the way it happens in Tezos or Cosmos. In DMDv4, nobody can buy their way in and push out the smaller validators, and even those with 10,000 coins have a good chance of getting selected.
— Large candidate pools. The original POSDAO implementation allows only 19 candidates and validators, which is too few, in our opinion. In DMDv4, there can be a maximum of 438 candidates, since the total number of DMD coins is 4.38 million and the minimum stake to be a candidate is 10,000 DMD (4,380,000/10,000=438). We expect the average number to be around 75. In each epoch, the system will pick up to 25 validators.
— Equal reward distribution. Each validator should receive an equal share of the block reward, no matter how many coins each of them has staked. Thus, a node with 10,000 DMD will earn as much as someone with 50,000 if they are both selected as validators in the same epoch. Actually, a smaller candidate can even end up with a larger personal reward if their own share in their stake (vs their delegates’ share) is relatively high.
— Every user has an influence over decentralization. The 50,000 DMD limit rule also takes care of an important psychological bias effect: users tend to stake on the largest nodes, believing that they should be the ‘best’ somehow. But in DMDv4, you can’t stake on a node that already has 50,000 coins, so the users are forced to pick smaller candidates. Users can even consciously stake coins on smaller candidates to increase the level of equality within the system. Plus, it’s in every DMD holder’s interest to pick a stable and trustworthy candidate, because the staker’s reward depends on it.
In fact, DMDv4 offers the first mainnet-ready integration of the HBBFT library with dPOS and an Open Ethereum node client — quite an achievement!
Hopefully, this short introduction will give you a rough idea of how DMDv4 works and why it’s really one of the most decentralized blockchain projects in the industry. To learn more, read our White Paper — or join our official Telegram community and ask us any questions.
Stay tuned to learn more!
https://t.me/dmd_coin telegram news channel
newsletter sign up
https://diamonds.us9.list-manage.com/subscribe?u=8f15ebfd0c305329a18cfe990&id=aaa4bb073e
https://dmd-diamond.medium.com/how-we-increased-the-decentralization-of-hbbft-with-a-dpos-based-node-election-mechanics-9740f9385749
----------------
How we increased the decentralization of HBBFT with a dPoS based node election mechanics
HBBFT is an amazingly performant asynchronous leaderless consensus model, but on its own it doesn’t guarantee decentralization. Read on to find out how DMD4 leverages the delegated Proof-of-Stake model to create one of the most decentralized blockchains out there.
What makes HBBFT so fast & efficient — and why it wasn’t enough for DMDv4
HBBFT, or Honey Badger Byzantine Fault Tolerant consensus algorithm, is very different from PoW and PoS, in that it’s cooperative, not competitive. In PoW networks like Bitcoin and Ethereum 1.0, miners obviously compete for the right to add a block, and that means a huge waste of resources — plus a long wait until the necessary number of confirmations are received.
In PoS blockchains, there is no wasteful mining, but whoever has the largest stake will also have the highest chance of adding a new block, so the ‘fattest’ nodes (usually staking pools) earn statistically more rewards — and grow even faster. In those systems that feature voting, this also means more influence over the system. For example, recent research found that in Cosmos, Kava, and Tezos the top 10 validators have more than 40% voting power — a very disturbing result.
HBBFT (created in 2016) solves the resource-wasting and speed issues. Its consensus is leaderless (every node can propose transactions) and asynchronous (there’s no set block time), and block finality is instant. However, HBBFT in itself doesn’t ensure decentralization: there is a maximum of 20–30 static validator nodes, and in theory, you could even run it with just one node.
dPoS + HBBFT: a power combo for 100% decentralization
When we began work on DMDv4, we quickly understood that HBBFT was the way to go to maximize transaction throughput and reliability (rather than the PoS + Masternodes model used in DMDv3). However, we needed a way to ensure that no single node or group would gain control over the network. The answer was POSDAO — a decentralized autonomous organization framework. It was developed by the same team that wrote a code library based on the original HBBFT research paper. We made a few further tweaks to increase decentralization even further, and here’s the result:
— Random selection of validators. At the start of every 12-hour epoch, the system randomly selects up to 25 validators from the pool. The chances to get selected depend on how many coins are staked on them. Thus, the most trusted nodes will have a statistical advantage.
— Rewards are shared between a validator and their delegates. In DMDv4, you need to stake at least 10,000 DMD to become a candidate. Other users can stake their DMD coins on you, and if you are chosen as a validator for the next block, your stakers will receive up to 70% of the resulting reward. This is a strong incentive for all users to participate in the delegation.
— No more than 50,000 DMD per candidate. This staking limit comprises both the candidate’s own stake and all the coins staked on them by other users. This solves the issue of disproportionately large nodes hogging all the rewards, the way it happens in Tezos or Cosmos. In DMDv4, nobody can buy their way in and push out the smaller validators, and even those with 10,000 coins have a good chance of getting selected.
— Large candidate pools. The original POSDAO implementation allows only 19 candidates and validators, which is too few, in our opinion. In DMDv4, there can be a maximum of 438 candidates, since the total number of DMD coins is 4.38 million and the minimum stake to be a candidate is 10,000 DMD (4,380,000/10,000=438). We expect the average number to be around 75. In each epoch, the system will pick up to 25 validators.
— Equal reward distribution. Each validator should receive an equal share of the block reward, no matter how many coins each of them has staked. Thus, a node with 10,000 DMD will earn as much as someone with 50,000 if they are both selected as validators in the same epoch. Actually, a smaller candidate can even end up with a larger personal reward if their own share in their stake (vs their delegates’ share) is relatively high.
— Every user has an influence over decentralization. The 50,000 DMD limit rule also takes care of an important psychological bias effect: users tend to stake on the largest nodes, believing that they should be the ‘best’ somehow. But in DMDv4, you can’t stake on a node that already has 50,000 coins, so the users are forced to pick smaller candidates. Users can even consciously stake coins on smaller candidates to increase the level of equality within the system. Plus, it’s in every DMD holder’s interest to pick a stable and trustworthy candidate, because the staker’s reward depends on it.
In fact, DMDv4 offers the first mainnet-ready integration of the HBBFT library with dPOS and an Open Ethereum node client — quite an achievement!
Hopefully, this short introduction will give you a rough idea of how DMDv4 works and why it’s really one of the most decentralized blockchain projects in the industry. To learn more, read our White Paper — or join our official Telegram community and ask us any questions.
Stay tuned to learn more!
https://t.me/dmd_coin telegram news channel
newsletter sign up
https://diamonds.us9.list-manage.com/subscribe?u=8f15ebfd0c305329a18cfe990&id=aaa4bb073e
February 12, 2021, 08:38:38 AM
The key features of HBBFT cooperative consensus 💻
⠀
The cooperative consensus is undoubtedly more effective than competitive consensus. This is why we used the Honey Badger Byzantine Fault Tolerant (HBBFT) consensus algorithm combined with a dPOS node election decentralization mechanic (POSDAO).
⠀
POSDAO is what makes the blockchain work truly decentralized, thanks to the random rotation of power, staking on different validators, and distributing rewards among active participants, both stakers and validators.
⠀
What are the main benefits of HBBFT cooperative consensus?
⠀
➖ Improved security for Byzantine Fault Tolerance;
⠀
➖ Immediate transaction finality as soon as a transaction is in a block;
⠀
➖ A dramatic increase in transactions per second, at least 400 TPS;
⠀
➖ Increased robustness of the blockchain;
⠀
➖ Elimination of the possibility of unintentional forks of the blockchain and elimination of the problem of orphan blocks in the chain;
⠀
➖ Identification and banning of malicious nodes;
⠀
➖ Ability to implement dynamic block times.
⠀
All this allows the DMD blockchain to reach rapid throughput thanks to the advances in asynchronous consensus protocols and the inclusion of smart contract capabilities combined with a high degree of compatibility with the Ethereum ecosystem which creates fertile ground for business creation. ⠀ (https://i.imgur.com/bmutsP2.jpg)
⠀
What do you think of HBBFT?
Stay tuned to learn more!
https://t.me/dmd_coin telegram news channel
newsletter sign up
https://diamonds.us9.list-manage.com/subscribe?u=8f15ebfd0c305329a18cfe990&id=aaa4bb073e
⠀
The cooperative consensus is undoubtedly more effective than competitive consensus. This is why we used the Honey Badger Byzantine Fault Tolerant (HBBFT) consensus algorithm combined with a dPOS node election decentralization mechanic (POSDAO).
⠀
POSDAO is what makes the blockchain work truly decentralized, thanks to the random rotation of power, staking on different validators, and distributing rewards among active participants, both stakers and validators.
⠀
What are the main benefits of HBBFT cooperative consensus?
⠀
➖ Improved security for Byzantine Fault Tolerance;
⠀
➖ Immediate transaction finality as soon as a transaction is in a block;
⠀
➖ A dramatic increase in transactions per second, at least 400 TPS;
⠀
➖ Increased robustness of the blockchain;
⠀
➖ Elimination of the possibility of unintentional forks of the blockchain and elimination of the problem of orphan blocks in the chain;
⠀
➖ Identification and banning of malicious nodes;
⠀
➖ Ability to implement dynamic block times.
⠀
All this allows the DMD blockchain to reach rapid throughput thanks to the advances in asynchronous consensus protocols and the inclusion of smart contract capabilities combined with a high degree of compatibility with the Ethereum ecosystem which creates fertile ground for business creation. ⠀ (https://i.imgur.com/bmutsP2.jpg)
⠀
What do you think of HBBFT?
Stay tuned to learn more!
https://t.me/dmd_coin telegram news channel
newsletter sign up
https://diamonds.us9.list-manage.com/subscribe?u=8f15ebfd0c305329a18cfe990&id=aaa4bb073e
February 12, 2021, 08:37:29 AM
Why is there a need for DMD v4 technologies nowadays? ⛓
⠀
The DMD Diamond project has been around since 2013. We have always tried to adopt the best technologies and adapt them to the needs of the DMD community. In this regard, we decided to be the first in the world to use a blockchain with HBBFT cooperative consensus supplemented by a dPoS based validator election.
⠀
How do DMD v4 technologies help to solve the current market problems?
⠀
🔹 Fair rewards
⠀
In the DMD blockchain, a maximum staking cap of 50,000 DMD ensures that there is no possibility to become more powerful than others. Besides, a constant rotation of power is used within 12-hour Epochs. Thus, the rewards in the DMD blockchain are distributed equally among validators.
⠀
🔹 Interoperability with other blockchains
⠀
The days when blockchains competed with each other are over. Today, the ability to move tokens or even smart contract interactions from one blockchain to another, so-called interoperability, is of great importance. This is why DMD v4 EVM is compatible with Ethereum EVM. Since the transaction speed on the DMD blockchain is higher and the fees are lower, it will be more convenient for many developers to release their dApps and smart contracts on the DMD blockchain.
⠀
🔹 A limited supply of coins
⠀
DMD v4 is the first blockchain to implement a sustainable and endless reward mechanic with a low max finite supply of just 4.38 million coins. This will allow constantly maintaining the stability of the system without additional emission of coins.
⠀
🔹 Fast throughput
⠀
DMD Diamond v4 is implementing the HBBFT protocol for faster throughput, higher security, dynamic block times, robustness, and elimination of orphan blocks and forking potential. The predictions and testing demonstrate a minimum of 400 TPS.⠀ (https://i.imgur.com/ZFWOxpr.jpg)
⠀
Those are just a few advantages DMD v4 offers to its users. Stay tuned to learn more!
https://t.me/dmd_coin telegram news channel
newsletter sign up
https://diamonds.us9.list-manage.com/subscribe?u=8f15ebfd0c305329a18cfe990&id=aaa4bb073e
⠀
The DMD Diamond project has been around since 2013. We have always tried to adopt the best technologies and adapt them to the needs of the DMD community. In this regard, we decided to be the first in the world to use a blockchain with HBBFT cooperative consensus supplemented by a dPoS based validator election.
⠀
How do DMD v4 technologies help to solve the current market problems?
⠀
🔹 Fair rewards
⠀
In the DMD blockchain, a maximum staking cap of 50,000 DMD ensures that there is no possibility to become more powerful than others. Besides, a constant rotation of power is used within 12-hour Epochs. Thus, the rewards in the DMD blockchain are distributed equally among validators.
⠀
🔹 Interoperability with other blockchains
⠀
The days when blockchains competed with each other are over. Today, the ability to move tokens or even smart contract interactions from one blockchain to another, so-called interoperability, is of great importance. This is why DMD v4 EVM is compatible with Ethereum EVM. Since the transaction speed on the DMD blockchain is higher and the fees are lower, it will be more convenient for many developers to release their dApps and smart contracts on the DMD blockchain.
⠀
🔹 A limited supply of coins
⠀
DMD v4 is the first blockchain to implement a sustainable and endless reward mechanic with a low max finite supply of just 4.38 million coins. This will allow constantly maintaining the stability of the system without additional emission of coins.
⠀
🔹 Fast throughput
⠀
DMD Diamond v4 is implementing the HBBFT protocol for faster throughput, higher security, dynamic block times, robustness, and elimination of orphan blocks and forking potential. The predictions and testing demonstrate a minimum of 400 TPS.⠀ (https://i.imgur.com/ZFWOxpr.jpg)
⠀
Those are just a few advantages DMD v4 offers to its users. Stay tuned to learn more!
https://t.me/dmd_coin telegram news channel
newsletter sign up
https://diamonds.us9.list-manage.com/subscribe?u=8f15ebfd0c305329a18cfe990&id=aaa4bb073e
February 12, 2021, 08:33:18 AM
February 04, 2021, 08:30:49 AM
Hello, community!
⠀
#DMD #Diamond is a #community enthusiasts project.
We wonder whether there are other projects that are driven by people, not companies.
We'd love to find like-minded projects and exchange experiences.
⠀
In case you know such projects kindly tag them below
twitter.com/dmdcoin/status/1356977394419130369
⠀
#DMD #Diamond is a #community enthusiasts project.
We wonder whether there are other projects that are driven by people, not companies.
We'd love to find like-minded projects and exchange experiences.
⠀
In case you know such projects kindly tag them below
twitter.com/dmdcoin/status/1356977394419130369
February 01, 2021, 12:49:53 PM
Diamond DMD News Channel🔥
Now we have a Telegram channel where we will reveal the most important details about the upcoming DMD v4 release.
Join and stay tuned for new updates! https://t.me/dmd_coin
Now we have a Telegram channel where we will reveal the most important details about the upcoming DMD v4 release.
Join and stay tuned for new updates! https://t.me/dmd_coin
January 27, 2021, 04:28:01 PM
January 21, 2021, 08:58:49 PM
I understand you guys are doing your best, but the truth is DMD v4 was announced in the middle of 2019...
This is an extremely slow development cycle and we face a serious risk of becoming completely neglectable, useless and pointless.
Crypto is in the highest point ever and we cannot afford to let all other projects ride this wave while we are taking two full years to make an upgrade.
I still believe in DMD, but the community needs to see palpable progress, and fast!
Thank you!
This is an extremely slow development cycle and we face a serious risk of becoming completely neglectable, useless and pointless.
Crypto is in the highest point ever and we cannot afford to let all other projects ride this wave while we are taking two full years to make an upgrade.
I still believe in DMD, but the community needs to see palpable progress, and fast!
Thank you!
we are community like u are
u are invited to help us to progress faster together
we use github for collaboration
https://github.com/DMDcoin/
keep in mind DMD Diamond was one of the first community takeovers in blockchain history
and one of the few thats still maintained after 8 years by community volunteers
im not even sure if there is more then a handful projects that can say similar about themself
most prominent one is for sure bitcoin which is also a community takeover (founder left) without a company after satoshi nakamoto vanished
January 21, 2021, 05:36:03 PM
I understand you guys are doing your best, but the truth is DMD v4 was announced in the middle of 2019...
This is an extremely slow development cycle and we face a serious risk of becoming completely neglectable, useless and pointless.
Crypto is in the highest point ever and we cannot afford to let all other projects ride this wave while we are taking two full years to make an upgrade.
I still believe in DMD, but the community needs to see palpable progress, and fast!
Thank you!
This is an extremely slow development cycle and we face a serious risk of becoming completely neglectable, useless and pointless.
Crypto is in the highest point ever and we cannot afford to let all other projects ride this wave while we are taking two full years to make an upgrade.
I still believe in DMD, but the community needs to see palpable progress, and fast!
Thank you!
January 21, 2021, 03:27:32 PM
January 14, 2021, 03:04:55 PM
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