Topic: [ANN] SophiaTX Announcement - The Blockchain for Business - page 161. (Read 67301 times)

Thanks. As we mentioned just a few moments ago, the name has its meaning. It means: Software Operating Platform for Hybrid Internet Applications Transaction Xchange

Thanks. As we mentioned just a few moments ago, the name has its meaning. It means: Software Operating Platform for Hybrid Internet Applications Transaction Xchange

In fact a very advanced and exciting prototype, it is possible to identify the genius in small details of SophiaTx, I saw the video in jhimy fallon and this gave me even more credibility than what the company divulges:

I am very impressed by this project. But I was wondering, where does the name SophiaTX come from, what does it mean?

There's nothing yet to try, the work on prototype is still in progress.

Ya thats a pretty short time.
Do you have any plans to extend it?
Or maybe you already have some big private investors?

that is 100k hardcap. so 10 day isn't enough. it is possible only when their marketing team does so well. and have some whale have interesting in this project.

10 days for a ICO is not so long!
But I'm sure they will got the funding they need! This is just a great project.

I'm sure this project will got a lot more attention before the ICO date

Delegated Proof of Stake

Delegated Proof of Stake (DPOS) is a new method of securing a crypto-currency’s network. DPOS attempts to solve the problems of both Bitcoin’s traditional Proof of Work system, and the Proof of Stake system of Peercoin and NXT. DPOS implements a layer of technological democracy to offset the negative effects of centralization.
Background

Delegated proof of stake mitigates the potential negative impacts of centralization through the use of witnesses (formaly called delegates). A total of N witnesses sign the blocks and are voted on by those using the network with every transaction that gets made. By using a decentralized voting process, DPOS is by design more democratic than comparable systems. Rather than eliminating the need for trust all together, DPOS has safeguards in place the ensure that those trusted with signing blocks on behalf of the network are doing so correctly and without bias. Additionally, each block signed must have a verification that the block before it was signed by a trusted node. DPOS eliminates the need to wait until a certain number of untrusted nodes have verified a transaction before it can be confirmed.

This reduced need for confirmation produces an increase in speed of transaction times. By intentionally placing trust with the most trustworthy of potential block signers, as decided by the network, no artificial encumbrance need be imposed to slow down the block signing process. DPOS allows for many more transactions to be included in a block than either proof of work or proof of stake systems. DPOS technology allows cryptocurrency technology to transact at a level where it can compete with the centralized clearinghouses like Visa and Mastercard. Such clearinghouses administer the most popular forms of electronic payment systems in the world.

In a delegated proof of stake system centralization still occurs, but it is controlled. Unlike other methods of securing cryptocurrency networks, every client in a DPOS system has the ability to decide who is trusted rather than trust concentrating in the hands of those with the most resources. DPOS allows the network to reap some of the major advantages of centralization, while still maintaining some calculated measure of decentralization. This system is enforced by a fair election process where anyone could potentially become a delegated representative of the majority of users.
Rationale Behind DPOS

    Give shareholders a way to delegate their vote to a key (one that doesn’t control coins ‘so they can mine’)
    Maximize the dividends shareholders earn
    Minimize the amount paid to secure the network
    Maximize the performance of the network
    Minimize the cost of running the network (bandwidth, CPU, etc)