Topic: [ANN][DASH] Dash (dash.org) | First Self-Funding Self-Governing Crypto Currency - page 3140. (Read 9724017 times)

I think you are a little confused about how InstantX works, InstantX just locks a transaction in place for a period of time, it is secured in the blockchain separately. The cool thing about instantX is that it is adjustable, it will take around 20 secs or less (maybe 10) to lock a transaction this is  the minimum time it takes for an InstantX lock to be set. If you want to lock a transaction really quick in a smaller interval than the block time then boom you use it like that.

 But Evan created a parameter that allows you to set the transaction lock time you prefer. If you want to lock a transaction for a month you can do that too, this can be great for contracts between people you could send coins to someone but prevent them spending them with a transaction lock that expires at a later date giving you time to check that everything is good with the terms of the deal. You can even adjust it to a 10min lock and use it for POS as you are describing.

Or so many other applications InstantX is really an adjustable time transaction locking system and you can use it any way you want. Obviously the uber fast locking time is how we are marketing it right now but it is much more than that.

Plus, the blockchain still secures every transaction just like we do now. The transaction locking system is an additional more flexible layer, transactions go to blocks normally as they do now. There is no additional risk I really dont get what some users are saying.

Very good points there...

 This last question got me thinking. Like exchanges operate, right? Its just their product is buy/sell orders. So if the MN network were to adopt a payment processor, then that would be a Darkcoin proprietary technology, meaning, despite being open-source, only one processor would be able to exist. If you wanted another, you'd need to create an entirely new and independant MN network feeding off the blockchain. Sidechain is interesting for expansion and scalability and protocol overlaying, but applied to payment processor, you want anything but. Big can of worms...  But in essence, a "simple" payment processor doesn not need a sidechain.

So no, don't think those that would be an good option.

The store sends you back the price of the item. Now the item belongs to the store again. Then the item is charged from the customer behind you. Is there a problem? The store's own bookkeeping can interpret that sequence any way they wish.



Dunno about "supermarkets" specifically, but if a payment processor will take 1-2% cut I'd imagine a lot of retailers would choose a method without middlemen. They can accept the payment immediately, with a 20 seconds confirmation the risk of double spend is small, and they might get an alert or something and catch the guy before he leaves the premises if the transaction didn't actually confirm soon after?



If the 20 second confirmation is proven to be just as good as 6x10 minute confirmation time, then the only businesses that wouldn't find it credible will be those that wouldn't find Bitcoin credible because it's just internet fairy money.

If you don't trust fast confirmation times for some reason, Instant TX will be optional, just like Darksend.


PS. Can the masternode network act as a "payment processor"? What would be required for it to do so? Do we need a sidechain to do the "counting" so the main chain wouldn't become too large and choke?

II Version .... Bump ...... 

No specific dates, just "in a few weeks" mentioned a few times.  Anyway...their thread is interesting to visit and ask questions about specific plans for the future.  Not for discussion here 

That is only because Spread is a Darkcoin clone fork. LTC/BTC would have to do a lot more work to copy DRK.

You're kidding right?    He actually said that? What is Spreadcoin anyway? (disregard last question)

Spreadcoin dev seems to think that he'll have masternodes up and running in a few weeks with InstanTX a few weeks after for example.  Whether this is possible remains to be seen but people are benefiting from our dev team's work and also learning from our mistakes.

 Not lots of updates because Evan is doing all the hard work and we're his guinea pigs. Anyone is free to adapt Darkcoin's opensource technology into their coins at any time. The only thing needed is a solid Masternode network to have those features.

So absolutely yes, they'd need to fork to adapt Darkcoin's features.

I absolutely agree with toknormal. The whole sale point of Point of Sale (lol) is not clearing a transaction, but act to act as a buffer and avoid human error in the processing payments, updating stocks, and automating accounting.

 That being said, anyone can create a "coinbase" for DRK where DRK absolutely would rock as a PoSale platform. The vendor might not even need to know what the heck DRK is. But that's not the point.

 Peer-to-peer & inter-exchange arbitrage are the biggest I see. Heck, add an encrypted messaging app and you get instantly verifiable anonymous/private communication system. Opens a whole new bag of possibilities not yet even considered before.

 Along with DS, IX is a blessing! Brings real fungibility to a digital realm in a way never expected ! Not only the concept itself, but as instant as a hand-to-hand transaction, but on a global scale. Going to be a thing of beauty.

Technical question again ( wish I had some Beta brains like some of you have ), but like Crypto too much.
Is my understanding correct that in case BTC and LTC also want too add stuff that DRK already has ( like Darksend, coin mixing and InstantX ) they are forced also to be forked or "sporked" and make a lot of updates ?

 

Is it World Luddite Day or something?

Maybe you'd be more comfortable in the Litecoin thread?  

As much as I love reading your posts toknormal, I have to agree with stealth on this one!

Love your posts as always Tok but remember that Darks journey is still very young - if Evan implements InstantX and version 1 is 20 second confirmations.

What if Evan optimizes and makes confirmations 1 second upon refinement - this again could open up a new set of doors that nor you or I could have imagined.

Look at Darksend and the Masternode network refinement over time as an example.

http://en.wikipedia.org/wiki/Clearing_(finance)



A blockchain is not a POS system and never will be. http://en.wikipedia.org/wiki/Point_of_sale

great post, agree with you 100%, sorry to snip heavily but wanted to highlight this comment above. What if when implementing instantX a new set of bugs or exploits is unleashed? Is it worth it. Branching out into new territory like that puts darkcoin at risk. Why not rely on the tried and tested bitcoin transaction processing. Pros and cons...

It's not that I disagree with that, it's that I'm saying that it's a waste of time for a blockchain to be worrying about it. 20 seconds is still far to slow.

People will not be doing blockchain transaction in supermarket queues, airport coffee bars, or even online eCommerce sites. The transactions will be buffered by a payments processor who will be able to support infinitely more flexibility and speed that a 'fast' blockchain can.

They currently do 5 seconds even if your bank takes 48 hours to clear the transaction.

OMG thx dude! 

you can try two more things :

- press reset button, close & open wallet and see if that changes anything
- activate coin control (settings / options / wallet / enable coin control feautures) --> go to send --> inputs --> list mode --> check for any locked amounts -->
unlock them manually --> close and open wallet.
 

I've recovered a few coins, looks like 90% of them were sent out to a mixer or something a bunch of 1 DRK transactions then a few 0.1 DRK