Topic: [ANN][SLR] SolarCoin | PoW to PoS v. 2.0 | Solar Proof of Generation (§1 = 1MWh) - page 266. (Read 466822 times)

Good man keep up to good work does seem to have made a difference 

Nice! How are you making out with the Cat thingy for trading? Is it easy? I know there are lots of bot trader options but I have yet to try any out.

I have been trying to buffer the bid side and close the spread.

That's fantastic!!! Hopefully you bought up all of Ghosts offers. 

That was me this morning UK time, invested another 3.5 BTC got just under 200,000 so not bad... 

Fly solarcoin fly.

And speaking of the "what"... Holy price volatility last night!!!  All the good stuff happens while I'm sleeping. LOL

So I had a big chat with someone from BitHalo last night about the stuff Solaris33 just posted. It seems these guys are pretty knowledgable about the ins and outs of contracts so maybe they will post and offer some comments on the "how". It seems to me we have a good handle on the "what". 

Background
Overview of Smart Contracts as described by Nick Szabo (http://szabo.best.vwh.net/smart_contracts_2.html).
The four basic objectives of contract design could help us frame an approach to secure the generator pool:
 - The first of these is observability, the ability of the principals to observe each others' performance of the contract, or to prove their performance to other principals.
 - A second objective verifiability, the ability of a principal to prove to an arbitrator that a contract has been performed or breached, or the ability of the arbitrator to find this out by other means.
 - A third objective of contract design is privity, the principle that knowledge and control over the contents and performance of a contract should be distributed among parties only as much as is necessary for the performance of that contract.
  - A fourth objective is enforceability, and at the same time minimizing the need for enforcement. Improved verifiability often also helps meet this fourth objective. Reputation, built-in incentives, "self-enforcing" protocols, and verifiability can all play a strong part in meeting the fourth objective.
 
 - The threat of physical force is an obvious way to embed a contract in the world -- have a judicial system decide what physical steps are to be taken out by an enforcement agency (including arrest, confiscation of property, etc.) in response to a breach of contract. This  is called a reactive form of security.
- A proactive form of security is a physical mechanism that makes breach expensive, such as a combination lock that makes access to a room containing trade secrets expensive without explicit authorization.
 - A canonical real-life example, which we might consider to be the primitive ancestor of smart contracts, is the humble vending machine. Within a limited amount of potential loss (the amount in the till should be less than the cost of breaching the mechanism), the machine takes in coins, and via a simple mechanism, which makes a beginner's level problem in design with finite automata, dispense change and product fairly.
 
Generator Pool Security Problem Overview
 - A small number of cold storage generator pool wallets exist that have a large amount of SLR. They need to remain secure for many years (40+) and will be the supply of SLR for generator facility grants.
 - A small number of granting wallets were created to receive SLR from the generator pool wallets.
 - SLR needs be released from the generator pool wallet to the granting wallet in a small fixed increment (i.e. 100K SLR) to reduce the "at risk" SLR footprint.


In alignment with the objectives of observability, verifiability, privity and enforceability, below is an approach (open for discussion) inspired by double escrow smart contracts to secure the SLR generator pool from a needs and constraints basis.

Proactive Security Process
 - When the amount of the granting wallet drops below a trigger (let's say 10K SLR), 100K SLR from the  generator pool wallet is automatically staged as escrow in a smart contract.
 - Another 100K SLR must be put up as collateral in the smart contract from a wallet that is not from the generator pool.
 - Once the transfer of 100K SLR has been confirmed on the blockchain from the generator pool wallet to the granting wallet, then the 100K SLR of collateral is released back to the wallet it came from.
 - If the 100K SLR does not get confirmed on the blockchain by some defined criteria, the collateral is forfeited back to the generator pool wallet, keeping it whole again.

Commentary
We can add elements of multi signatures to wallets for added security, but there must be 100% "skin in the game" as collateral to guarantee that SLR is released from the generator pool according to protocol with the insurance that it will always kept whole during the process.  The 100% collateral posting in a smart contract with confirmation from the blockchain removes human intervention as the main deciding factor in the transfer process.  The vending machine analogy inspired the proposition that an equal amount of collateral (i.e. 100K SLR) must be posted in a smart contract to release coins from the generator pool wallet to the granting wallet. This proactive form of security makes breach expensive and is much easier to implement than reactive security.

Feedback
The SolarCoin Foundation would like to consider community feedback on innovative ways of securing the generator pool wallets to explore possibilities from different perspectives. (i.e. POS wallets could provide the collateral to secure and release SLR from the generator to the granting wallets). We look forward to community input on this discussion.

More good news, we have the test-net staking now!

We're going to run some more simulations and we'll be in touch

like this coin! when will the full mac wallet be released?

Have any of you tried Bleutrade yet? They have a nifty feature with the Bleutrade Shares if you own any. Every four hours it drips you coins from all the ones that trade there, like an automatic faucet. And you can set up an autotrade feature for any you don't want to keep. It's pretty cool! Here's my affiliate link if you want to check it out.  I sent them some SLR for the faucet and put a few on the offer so people could get in but I like the exchange. Chatbox is awesome too so far. I like it!

https://bleutrade.com/home/8406

Good job. Liked the facebook page

Who knows... Candlelitday could be a trivial pursuit answer one day

Hey that is pretty exciting stuff.

Nice 

Here's to looking back on this historic day when there are thousands of places accepting solarcoin!

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Guys I don't know if any other store has officially announced its support for SolarCoin. if not... then I am pleased to announce the first store to officially accept Solarcoin!

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You can send him a PM, he may take a while to respond but he'll get there eventually

I would like to make (and sell) an embedded-linux (probably beaglebone to start) based solar energy generation and energy-use monitor that uses this system, and is capable of running a local solarcoin wallet. What's the best way to get ahold of lfloorwalker and get more details. (I also need to review the new PoS code and try to get it running in my catoshi client)