Topic: [ANN] ¤ DMD Diamond 3.0 | Scarce ¤ Valuable ¤ Secure | PoS 3.0 | Masternodes 65% - page 7. (Read 1260245 times)

What you need to know about POSDAO node selection
⠀


The Proof-of-Stake Decentralized Autonomous Organization (PoSDAO) algorithm is designed to create a decentralized consensus for public blockchains, based on a voting mechanism to elect the active nodes (validators) that participate in block creation. PoSDAO provides a leaderless structure that incentivizes validators to act in the best interests of the network.
⠀
DMD DIAMOND uses HBBFT as a cooperative consensus algorithm to overcome the issues of slow transaction time and limitations of competitive consensus protocols. However it requires a low maximum of 25 validator nodes to take advantage of these improvements. The problem is that permanent distribution of power in a network of 25 static nodes is not adequate.
⠀
To solve this, DMD uses a PoSDAO implementation in order to select the nodes that will act as active validators every Epoch that runs 12 hours. A cap of 438 validator candidates is possible in DMD because of the scarcity of the DMD coins. Based on the current network activity, Diamond DMD expects approximately 50 – 75 active validator candidates competing for the active Epoch set.
⠀
By electing a new subset from the candidate nodes every Epoch, PoSDAO allows for the distribution over any number of validator candidates, both maintaining the speed of the network and creating a fairly distributed mechanism of securing the system and earning rewards. Note that chances of being selected are increased for nodes that are most trusted, represented by the number of coins staked on top of them.
⠀
There is no possibility to buy one’s way in or collude to become more powerful than other validators on the network, as a maximum staking ceiling is 50,000 DMD. Even candidates with a minimum stake of 10,000 DMD have a chance to get into the active set and PoSDAO dPOS stakers can increase that chance by supporting smaller candidates via staking on them. Staking tokens allows the participants to earn rewards and take part in on-chain governance.
⠀
Also, single nodes cannot act maliciously against particular transactions because they cannot see the contents of the transaction until it is validated which makes the system Censorship-resistant.

Stay tuned not to miss decentralized news with the Diamond DMD community!

more details can be found in whitepaper:
https://bit.diamonds/DMD_WP.pdf

Stay tuned to learn more!

telegram news channel:
https://t.me/dmd_coin

newsletter sign up:
https://diamonds.us9.list-manage.com/subscribe?u=8f15ebfd0c305329a18cfe990&id=aaa4bb073e

Tesla tweet:
"Tesla has suspended vehicle purchases using Bitcoin. We are concerned about rapidly increasing use of fossil fuels for Bitcoin Mining and transactions, especially coal, which has the worst emissions of any fuel.

Cryptocurrency is a good idea on many levels and we believe it has a promising future, but this cannot come at a great cost to the environment.

Tesla will not be selling any Bitcoin and we intend to use it for transactions as soon as mining transitions to more sustainable energy. We are also looking at other Cryptocurrencies that use <1% of Bitcoin's energy/transaction"

BTC traded lower but should be bullish for proof of stake coins like Diamond DMD

Features of DMD Diamond


⠀
DMD Diamond Coin is one of the oldest cryptocurrencies on the market. It maintains its original fixed-issuance coin emission model and remains five times more scarce than Bitcoin. DMD is one of a very small number of coins, including Bitcoin, Litecoin, and Peercoin which survived from the inception (2013) to now and is still actively supported and traded.
⠀
The “coin wars” are over and it is an industry-wide imperative to create stability and interoperability among the coin and token holders across the cryptocurrency industry. For that reason, DMD is creating strong interoperability capabilities with other Ethereum-based projects (Open Ethereum, Binance Smart Chain, POA Networks, xDAI, Artis.eco, lab10.coop, etc.).
⠀
For the new upcoming DMD v4 release DMD v3 coin holders can claim their snapshot balance on a one-to-one basis. The total coin max of DMD Diamond coins stays at  4,380,000.
⠀
The DMD Diamond Features include:
● Earning rewards for active coin usage as a validator or dPoS staker aimed at protecting the blockchain.
● Network security.
● On-chain governance  is aligning the values of participants in the networks
● Network fees and deployment of smart contracts.
● DMD represents a limited and constant-size resource that has reward earning abilities.
● Payments.
⠀
In addition, DMD is highly distributed, being held by a large number of smaller investors rather than concentrated in the hands of a few. DMDv4 is also the first blockchain that implements sustainable endless coin rewards for consensus nodes and dPOS stakers while maintaining a coin maximum by utilizing a new mechanism that reinserts unclaimed and abandoned coins into circulation after a number of years.
⠀
Stay tuned not to miss decentralized news with the Diamond DMD community!

more details can be found in whitepaper:
https://bit.diamonds/DMD_WP.pdf

Stay tuned to learn more!

telegram news channel:
https://t.me/dmd_coin

newsletter sign up:
https://diamonds.us9.list-manage.com/subscribe?u=8f15ebfd0c305329a18cfe990&id=aaa4bb073e

Honey Badger BFT Protocol as one of the most promising developments
⠀

To meet the market demands of speed and security, the DMD team has analyzed different consensus algorithms available today including one of the most promising developments, the Honey Badger Byzantine Fault Tolerant consensus algorithm.
⠀
The Honey Badger Byzantine Fault Tolerant (HBBFT) consensus algorithm was developed in 2016 by Andrew Miller, Yu Xia, Kyle Croman, Elaine Shi, and Dawn Song specifically to address the issues of slow transaction times and the difficulties of having synchronous communication on a large global network.
⠀
After extensive research, the DMD Diamond team has determined that using HBBFT will dramatically increase the efficiency and improve the security of the DMD blockchain.
⠀
Advantages of moving to the HBBFT include immediate transaction approval, with no need to wait for synchronous approval, block finality is immediate, and transactions can be confirmed within seconds. The validating nodes each propose a fraction of the transactions, and all nodes author the transactions simultaneously and in a cooperative way. The set of active validators change even 12 hours via PoSDAO node election system (similar to dPOS) and the participants of the former set get equal shared rewards for their work, securing the network in the last 12 hours.
⠀
No mining is necessary to run HBBFT as it approves blocks as quickly or slowly as suited to cover the demand (process all waiting transactions). In the DMDv4 implementation, we will include a heartbeat block if there is a long period (10 minutes) with no transaction on the chain, but it will be a very small block so as not to impact the size of the blockchain.
⠀
That's why DMD Diamond v4 is implementing the HBBFT protocol-  faster throughput, higher security, dynamic block times, robustness, elimination of orphan blocks and forking potential makes HBBFT one of the most promising developments.

Stay tuned not to miss decentralized news with the Diamond DMD community!

more details can be found in whitepaper:
https://bit.diamonds/DMD_WP.pdf

Stay tuned to learn more!

telegram news channel:
https://t.me/dmd_coin

newsletter sign up:
https://diamonds.us9.list-manage.com/subscribe?u=8f15ebfd0c305329a18cfe990&id=aaa4bb073e

How the system of 4 coin pots works within the DMDv4 scarcity model
⠀
There is a system of four coin pots acceptor: Claiming, Delta, Reinsert, and Governance. In our new article, you will find out what it is and what their purpose is.
⠀
Read on more: https://link.medium.com/Vc0cTWSY5fb

06.05.2021
thursday is dmd diamond development progress update day:

# all preparations and tests to start the new closed alpha testnet with a few selected community volunteers included are progressing great we expect code to be finsihed this weekend and testnet started early next week

# the actual dev testnet runs with ultra fast epoch and block times and did run through years of real network epochs (over 3500 epochs which would on mainnet settings like 5 years of network running time) without issues

#  we have still a few slots free for community members who wants to be involved testing in this early stage running a validator candidate u need to have the skill handle a ubunto 20.04 in console to set up and configure the node following our guides and a responce time of not more then 24 hours to update software in case its needed (ur server need at least 2 core 4gb ram  40gb hdd and a static ip) if interested send a email to [email protected] for slack invite and include a motivation speach :wink: follow up test communication happens on private alpha test slack channel and its a gentlemen agreement NDA to not share news from alpha testnet as its still in a not production ready state and dont represent the final product

https://t.me/dmd_coin/45
Why become a validator in the DMD v4 blockchain
⠀
DMDv4 uses the Honey Badger BFT protocol which achieves consensus without competition, sharing rewards among validators, again making this a more distributed and democratized network. HBBFT includes a mechanism for choosing the validators using a secure random selection mechanism. This ensures that validators are selected from the validator candidate pool in a fair and secure manner.
⠀
Each elected (active) validator receives an equal share of Epoch rewards for cooperative contributing. Each active validator shares the rewards among themselves and their delegates.
⠀
Block rewards for active validators are split proportionally according to the number of coins staked for that validator. However, the minimum to the validator will be 30% of the block reward. If the validator’s share of the stacked coins is less than 30%, the validator gets 30% and the rest 70% is distributed among the coin holders proportionally according to their stakes. Validator candidates re-stake the coins they earn as rewards.
⠀
Earning rewards for active coin usage as a validator or dPOS staker aimed at protecting the blockchain is one of the functions of the DMDv4. All in all, validation is a business that allows an extremely accurate assessment of the validator's potential income, quickly transfer capacities between projects, and if the network he has chosen is successful, the validator can develop the project as a full-fledged DAO participant and responsible person, or simply provide excellent technical service for completely transparent honestly earned money.

Stay tuned not to miss decentralized news with the Diamond DMD community!

more details can be found in whitepaper:
https://bit.diamonds/DMD_WP.pdf

Stay tuned to learn more!

telegram news channel:
https://t.me/dmd_coin

newsletter sign up:
https://diamonds.us9.list-manage.com/subscribe?u=8f15ebfd0c305329a18cfe990&id=aaa4bb073e

The DMD roadmap: what happens after the DMD v4 release
⠀

Newer, faster, and much more extended DMD Diamond is coming. Build and deploy next-generation business with Smart Contracts. Use ultra-secure offline staking and manage your finances.
⠀
DMD v4 release has several stages:
⠀
— Open testnet will start with candidate release of DMD v4
— Claiming tool tests are being tested
— POSDAO dPOS staking tool tests are being tested
— DMD v4 mainnet will take place  3 months later
— DMD v4.1  core content will be on-chain governance systems (DMDDAO) that interact with POSDAO for voting weights
⠀
Future goals are set and voted on by the stakeholders and DAO participants.
⠀
First of all it is Message Bridge (AMB) development — a bridge designed for universal cross-chain data transfer.
⠀
First targets for bridges are Ethereum, Binance Smart Chain, xDAI and a later more complex goal is bridges to XYM Symbol (new NEM ecosystem primary chain) to give their ecosystem participants access to a connected smart contract able chain (DMD Diamond v4).
⠀
Also, creating DEX or protocol for automated liquidity provision with a positive impact on the DMD coin economic model on our own chain, with fees to reinsert pot and bonus rewards for active stakeholders is a possibility we consider. As the project grows any other suggestions initiated by the community of stakeholders and validators are considered.

original: https://t.me/DMDcoin/29933

Stay tuned not to miss decentralized news with the Diamond DMD community!

more details can be found in whitepaper:
https://bit.diamonds/DMD_WP.pdf

Stay tuned to learn more!

telegram news channel:
https://t.me/dmd_coin

newsletter sign up:
https://diamonds.us9.list-manage.com/subscribe?u=8f15ebfd0c305329a18cfe990&id=aaa4bb073e

i think the raise of ETH just show very clear how big the demand is for smart contract able platforms

and DMD v4 will there be a very interesting alternative way more decentral as solutions like binance smart chain and technological also far ahead of binance smart chain and even ethereum it can be more compared as a alternative way of ethereum2

the DMD v4 approach is less suited for 1000x more performance then ethereum as ethereum2 promise
but DMD v4 is more suited for a way more dynamic and efficient singlechain solution without sharding  as we able handle on a single chain easy 20x more tasks then ethereum can handle and that with many additional benefits like instant finality dynamic blocktimes zero possibility for microforks (orphans)

test of staking will be open for anyone
test for set up and operate a validator candidate in that still closed alpha testnet
is only available for people who are at our slack available to update their node software at least 24h after announcement
and be familar with run a node on a linux vps (u need static ip address) and we prefer people long term known in community.

u can apply via send me a PM why u would be a good alpha tester and be aware its NDA so not share closed testnet experience before we go open testnet

How can I help?

I am in Asia. Can a testnet be made with me?

DMD Diamond's Updates for April 🔥


Today we will tell you about our achievements and the challenges we faced in April, and how we are going to address them.
⠀
🔹 The open Ethereum 3.1 upgrade issues are now mostly solved.
⠀
🔹 A lot of development branch code updates were published to open Github:
https://github.com/DMDcoin/hbbft-posdao-contracts/pull/71
⠀
🔹 Migration to open ethereum 3.2.2 is complete, and a new testnet based on 3.2.2 was started.
⠀
🔹 Open ethereum is updated to version 3.2.4.
⠀
🔹 Thomas is working to provide some basic guides: how to add DMDv4 testnet to Metamask, how to get test coins via a faucet, and how to stake them with PoSDAO dApp. Thomas is also working on improving PoSDAO dApps to be ready for external testers and dPoS stakers.
⠀
🔹 We detected an issue of the open Ethereum extensions for Honeybadger in the area of validator messaging and caching that under some conditions messages can be lost. We are running extensive debugging to track the origin.
⠀
🔹 Regarding the detected P2P communications issues between the nodes of the actual active validator set, we are coding a new extension for the communication protocol that can detect lost messages and take care all nodes are in the same state. Even if a node did reboot, it is able to catch up to the actual state with this new state recovery/reliable message delivery protocol.
⠀
🔹 A network simulator has been implemented for the unit tests.
⠀
🔹 We also expand test cases on real network environments with multiple separated hosts as preparation for open testnet.
⠀
🔹 The DMD faucet to get test coins is finished. We will share the link when we start allowing external testers.
⠀
🔹 We have found a new approach to solve the issues with validator message lost via extensive debugging of node communication in open Ethereum sync module.
⠀
🔹 Now we can start invite PoSDAO staking testers and a few selected validator node operators in next week.
⠀
🔹 A bunch new regression tests for staking and unstaking and rewards were made.

Stay tuned not to miss decentralized news with the Diamond DMD community!

more details can be found in whitepaper:
https://bit.diamonds/DMD_WP.pdf

Stay tuned to learn more!

telegram news channel:
https://t.me/dmd_coin

newsletter sign up:
https://diamonds.us9.list-manage.com/subscribe?u=8f15ebfd0c305329a18cfe990&id=aaa4bb073e

https://t.me/DMDcoin/29782


Stay tuned not to miss decentralized news with the Diamond DMD community!

more details can be found in whitepaper:
https://bit.diamonds/DMD_WP.pdf

Stay tuned to learn more!

telegram news channel:
https://t.me/dmd_coin

newsletter sign up:
https://diamonds.us9.list-manage.com/subscribe?u=8f15ebfd0c305329a18cfe990&id=aaa4bb073e

DMD Diamond opens up opportunities for true decentralized governance

DMD introduces you a decentralized governance module. In this article, we explain why DAO is not so good and what possibilities the DMDv4 voting model gives you.

Read on here: https://dmd-diamond.medium.com/dmd-diamond-opens-up-opportunities-for-true-decentralized-governance-daaf47d25cd2

what u suggest how dmd diamond community can prepare to get DMD v4 after release listed on more exchanges

dont address some developers or founders or a foundation

address the community we need to learn act this way as with DMD v4.1 this project is full driven by its community on a blockchainbased governance way

we all are part of community each one who own coins

what we can do together to make our investment become a success


make a proposal a clear understandable step by step plan

what u need to make it happen and how we can support u

Don't get me wrong I have contributed in the past to this community. I actually also mined a fair amount of DMDs in V2 and V3 which I still have in my wallet. I also helped at that time compiling a MAC wallet from source.

7 years have past since then, but I have seen no improvement in terms of growth, quite the opposite in fact. Yes price has increased but that is somewhat artificial considering the low volumes and market cap of the coin.

At this stage DMD should already be trading in far bigger platforms than the current ones considering its maturity.

https://t.me/dmd_coin/40


The DMD Diamond solution for a state of the art blockchain technology 🔗

 

The new DMDv4 leverages the strengths of Ethereum, Litecoin, and the original Diamond to create a fast and secure low-cost blockchain for building and deploying dApps.
⠀
What are the main advantages of DMDv4?
⠀
DMD is 5 times more scarce than Bitcoin: the total supply is 4.38 million (all issued at the same time and then gradually allocated). It is also highly distributed: the top 10 DMDv3 addresses hold only 13.5% of all DMD, and the 100 largest addresses account for only 48%.
⠀
All DMDv3 holders can claim DMDv4 coins (they don't have to give up their DMDv3 in the process, so it's not a token swap).
⠀
🔹 High performance: over 400 tps thanks to dynamic block time
🔹 Complete censorship & fork resistance
🔹 High level of decentralization: uses dPoS & DAO governance;
🔹 Energy-efficient: the total energy consumption is equivalent to several households - not to a whole country as in the case of Bitcoin
🔹 Instant transaction finality instead of multiple block confirmations: once a transaction is included in a block, it’s final
🔹 Fair reward distribution: each active validator gets an equal share of the reward
🔹 dPoS-enhanced: users can stake coins on validators and earn attractive rewards
🔹 Scarcity: the supply is fixed at 4.38m DMDv4 – 5 times fewer than Bitcoin
⠀
DMDv4 uses Honey Badger Byzantine Fault Tolerant cooperative consensus mechanism. Algorithms have many advantages over competitive consensus models like POW and POS/dPOS.
⠀
The result is a more robust and secure blockchain capable of processing more than 400 transactions every second (as opposed to only 10 for the Bitcoin blockchain or 20 for Ethereum).

Stay tuned not to miss decentralized news with the Diamond DMD community!

more details can be found in whitepaper:
https://bit.diamonds/DMD_WP.pdf

Stay tuned to learn more!

telegram news channel:
https://t.me/dmd_coin

newsletter sign up:
https://diamonds.us9.list-manage.com/subscribe?u=8f15ebfd0c305329a18cfe990&id=aaa4bb073e

what do u think come first

DMD v4 release
or
bigger exchange listing

BINGO

first we need v4

we have two exchanges who support v4 upgrade with is extra effort for them

once we have v4 released

new exchange dont have the extra effort of coin allocation and claiming included from v3 v4 codebase switch
and its much more easy to get listed

The huge difference beeing that in 2017 it was listed at Bittrex which was one of the biggest excanges back then, but now there is no visibility to make that bigger technology leap even come into play in any way.

the is no founding member

DMD Diamond was abandoned 2013 by its founders and 2014 with release of DMD v2
diamond community members did take over and since then its a community run project


2017 dmd made x91 btc made x15 the whole raise of dmd was started with upgrade from v2 to v3. so its no dreaming without any hope to come true its look back on our history and see the possibility that history repeat. no gurantee can be given that it really happens but if u look what great technology leap it is from v3 to v4 its far more impressive then the v2 to v3 2017. in fact i have to say its first time in dmd history we have many industry first innovations and are not only good because of the superior coin economic setup but even more because of industry leading technology innovations.


a additional real big asset we have is that we stick true to be one of very few non corporate controled no premine no ico projects that follow the vision of satoshi nakamoto of a decentral permissionless open source blockchain system and we did combine it with all the abilities ethereum smart contract engine ÈVM give and on top expand it with a industry first honey badger hbbft cooperative smart contract  able consensus engine with dpos like node election. dynamic blocktimes instant finallity and a at least 20x higher performance then ethereum (we expect to reach even more in final stage)


this way we play not against bitcoin or ethereum we are a true alternative to ethereum 2 and a real 4th generation blockchain



there is only 2 things that can stop us


never release v4

be unable to tell the world we exist and what we add to blockchain as a additional pillar of blockchain future

first thing we have 3 developers and a bunch supporting people work intense to have a 2021 release

but for the second thing we all need to help together u too

its a comnunity driven project each coin owner is part of thus community and responsible to help make this a success

 not everyone can code but everyone can talk

spread the word make the world know whats happening here

and why u part of it


Stay tuned not to miss decentralized news with the Diamond DMD community!

more details can be found in whitepaper:
https://bit.diamonds/DMD_WP.pdf

Stay tuned to learn more!

telegram news channel:
https://t.me/dmd_coin

newsletter sign up:
https://diamonds.us9.list-manage.com/subscribe?u=8f15ebfd0c305329a18cfe990&id=aaa4bb073e