Topic: [ANN][XEL] Elastic Project - The Decentralized Supercomputer - page 329. (Read 450549 times)

Oh I thought you were asking about the crowdfund block time thing sorry. I do not know this it may still be up in the air.

I don't know about the blocktime but, it was mentioned before that the "miner" will be sandboxed in a way that the task can't directly interact with the host machine.

What is the blocktime of ELC?  not BTC.

How does ELC protect against bad dudes running malicious code on people machines?

Every 10 min a new block on bitcoin chain is created.

What is block time?

No once the ELC runs out no more btc should be sent

The ELC will be divided to everyone who contributed, the more BTC you donated the more ELC you get. There is no ELC-BTC conversion rate yet.

Thanks.

How possible?  Can't people can send as much BTC as they like in the presale and each 1 BTC creates 8K-4K ELC?  Or is there a hard cap of how much BTC is accepted?

When I sell my Lisk and Augur rep I am going to buy a few percent of remaining coin. I will then offer some bounties for some github contributions. Currently I am pondering which method of verifying computation to pursue. Soon I will be developing on code valley I will see what I can do for this there. 

Sorry, missed that! Maximum supply is 5 million ELC.

Thanks for your answer.  Your solution sounds good to me and the whitepaper is well written.  You have a killer idea.

But you didn't answer my first question.

What is the total max supply of ELC?

Interesting project, invest some btc

I have a great idea :-) I think what would be awesome is a graphic explaining the proof-of-stake and proof-of-work combination in a way that everyone understands it.
It is completely different than in other pos/pow hybrid coins. I think we should explain this new approach visually  

There have been many discussions in this thread about how to do it correctly.

For now we have settled on
- ensuring the blockchain security using a reliable proof-of-stake scheme (here, only the fees are earned and no new coins are emitted)
- doing the proof-of-work thing (that means people perform work and get rewarded with coins that the buyer of the processing power had to spent when he broadcasted his work package) independent from the blockchain security, but with the cryptographic security that blockchains offer.
- to prevent "blockchain bloating" (which in inevitable when everyone can submit more-or-less large work packages) we go with a scalable mini-blockchain approach where old stuff can be purged safely.

The reason to go this "dual approach" was a special attack termed the "faster algorithm attack" (FAA) where malicious "buyers" could create an algorithm/work package which is very hard to solve but for which they know quicker, more efficient way to solve it. If the blockchain security would be tied to solving the buyer's work, the attacker could solve his own work using the faster method and so faster than anyone else resulting in him mining the majority of the blocks. This would then allow him to pull off a 51% attack easily and revert transactions / double spend coins / etc.

So to sum up:
The proof-of-stake miners ensure the blockchain security, but they only earn a little namely the tx fees.
The "real income" of the "miners" (or should we better call them "workers"?) is produced using the "proof-of-work scheme" in which users get rewarded for contributing processing power.

What is total max supply of ELC?

Is it POS or POW of what?  What does reward structure look like?

I like the detailed staking screen.  And the fact it's on a separate tab a user only needs to look at it if they are interested.

and I don't like his avatar
the ignore button could be of help if no one quotes him

An interesting coin concept for sure!

Thanks! Not to forget, I also worked on parts of the official Bitcoin client as you can see in these change logs:
https://github.com/bitcoin/bitcoin/blob/master/doc/release-notes/release-notes-0.10.1.md

I wish someone can make this Greed guy just go away and never come back. His incompetence and his constant fudding is becoming exhausting.

Dont spread wrong info.
As I know,Evil-Knievel is a respectable and qualified dev.
He found the flaw of Nxt source code one year ago,and actively with XCP development.