Been gone for a few days and noticed the last question regarding the LNC token utility aspect.
Are 100% of the fees going to be distributed among tribunal voters? Or is a part going to token holders in a way that a dividend would be distributed?
Also, since Ethereum had some major issues with that crypto kitty game (which only added 7~8 tx/sec to the blockchain), do you intend to implement further currencies for paying in the future if the slow transcations become an issue? The new Waves platform already supports over 100 tx/sec and can go up to ~1000 tx/sec, which is quite a leap from what Ethereum offers right now. Without a doubt the ERC20 blockchain will get upgraded down the line and you've already mentioned potential fiat gateways, but this in general still is something that is unclear to me.
Have the new technical papers been released yet by the way?
Hi,
I don't believe that it is currently a huge problem because if I make a quick calculation.
If we add 1 transaction per second to the Ethereum Blockchain we generate 86400 transactions (60*60*24) per day. On current freelancing platforms every job has at max ~3 bids which results in 6 transactions per job (1x creation, 3x bid, 1x accepting, 1x payout). If we divide the transactions per day (86400) by the amount of transactions per job we get the result of 14400 jobs per day. As comparison Freelancer.com currently handles ~8600 jobs per day. This proves very well that we don't need that many transactions as for example a decentralized exchange
.
All fees are distributed to the voter in the Tokenholder Tribunal to encourage voting on the platform.
Regarding Waves, it is currently no solution because they don't support smart contracts as of now but I will keep an eye on them. Other currencies are no problem to implement especially Ethereum Tokens.
The new whitepaper is already released you can find it
here.
Thanks for your great question and best regards,
The Blocklancer Team
I'm mostly concerned about Ethereum breaking down again and causing delays for freelancers and clients. Or at least I was until I saw your calculations. If Ethereum doesn't upgrade its transaction throughput significantly, Blocklancer could actually end up congesting it on its own. With the Freelancer market growing at a rapid pace filling up 14400 jobs a day doesn't seem like a too outlandish target, especially if campaign managers ended up throwing their bounties onto Blocklancer to ensure that the people that join their bounty campaigns are of a high calibre.
Fortunately that's still a few years into the future though, so by then ERC20 should be much more efficient than it is right now.
With fees being distributed to the voters, would that (in analogy) make the voters similar to miners on traditional PoW blockchains? E.g. with difficulty being the amount of votes, rewards being the amount of fees and hashrate being the amount of tokens held by a given voter?
Thanks for the Whitepaper, will be reading through it over the holidays.