Topic: [ANN][XRB]Cryptocurrency's killer app: RaiBlocks micropayments - page 636. (Read 775172 times)

I correctly understand that the block is generated the receiver of coins?

Thank you for responding! Of course, goes without saying that attribution would be in place. That said - you stated clearly that RAI's goal is to do one thing and do it well - instant transactions.

I also have some other ideas, for example, does a transaction have to be confirmed by everyone? Couldn't a transaction confirmation be a subset of all the balances? (I'm thinking in terms of scaling). For example if you shard all the account balances such that you get the hex they end in so you split in 256.

You could have it that if A wants to send to B - you look at the shards they fall in, and only 2 shards at max would need to confirm transactions.

This would allow for parallelism. Of course, it would imply a lot more people are actually using the system.

To illustrate, let's say balances are somewhat equally distributed and you have 00, 01, ... FE, FF as last byte in the address.

Then if A ends with 84 and B ends with F7, only balances that have 84 and F7 would have to "commit" the transaction.

Not sure if this works with your system, but that's what I've been pondering on in my design.

Good job nonetheless! I really like what you've come up with.

Cool. Feel free to copy it, some attribution would be nice;)

There's some capability for this system to add new blocks if there was a desire to add them in the future.

If you wanted to roll your own some things to consider are: right now voting on balance decision is controlled in proportion by balances. If all of a sudden we were voting on things with a much higher value than the units in the network, there might be more incentive to be a network adversary.

I like the idea of smart contracts though my overall worry is the only quantity the network can prove or reverse is the unit of accounting on the network. For rai I thought there were significant uses of fast transaction of one unit enough to warrant focusing on that.

By the way - I've been pondering on a very similar design, but I was looking at how to basically combine what you do with running an Ethereum VM on top of it.

Nothing says that "Transaction" has to be just transferring from A to B, it could in theory have some smart contract capabilities on top of it. Of course if tx happens to hit a lot of other addresses, then it becomes a problem. But you could still have a contained contract as an "address" and allow instant transactions inside it.

When can I work?

We have a plan being implemented for it. We only get to put out the supply once and it's an 8 year distribution schedule.

I know everyone concerned will be happy it's done right.

Faucet still does not work?

to clemahieu, what you do is very interesting and not usual, continue in the same direction 

1) Our worry with mining as an incentive is it only incentives one specific thing, indeed, a miner has no obligation or penalty to do such essentials as republishing the block chain.  We're focusing our effort on minimizing footprint and resource usage and we hope this gives small interest groups the ability to usefully run a node for the out-of-chain incentives like direct fees and ideology.

2) Primary differences is in our protocol 1 block = 1 transaction, it fits inside a single UDP packet, and each transaction is processed individually.  Bitcoin mining does two things, it defines an order for transactions and it also makes sure no two transactions use the same unspent output.  This means even benign transactions need arbitration by the network to determine their order.  We circumvent this huge class of arbitration by having each account specify an order for their own transactions, this means the network only needs to arbitrate if an account specifies more than one order, i.e. they hacked their node and are generating double spends.  When this is detected, representatives send out voting rounds and change their chosen block to match the winner that they've tallied from other voters.  Since transactions are processed individually this means the rest of the network can continue on while this account is being arbitrated, again focusing on keeping good-actors moving along.

3) Quorum is determined by balances, since not everyone can be online, every account can name a representative account that can vote with, but not spend their balance.  The goal is to have exchanges and banks name their public node as the representative so we get a good balance of small representative nodes.

4) If there's no arbitration being done i.e. you're not generating forks there's no inherent limit on how fast it can go.  It's limited only by bandwidth and i/o.  Each account is anti-spam limited with a small proof of work generated by the transaction generator to rate limit a single node.  If you're generating forks it processes them at 32/min at the moment to limit vote traffic.

5) Our goal is to distribute the supply this way, there's no hold for developers.  Details are here https://github.com/clemahieu/raiblocks/wiki/Distribution-and-Mining  I've paid a couple bounties from my own pocket but no, we don't reserve any of the supply for bounties.  We're focusing on trying to distribute to the maximum number of people.  If we see indications of someone monopolizing it we might have to tweak it but that's our goal.

"Settings" -> "Change password"

Peers are found through DNS rai.raiblocks.net, there are about 30 or so connected at the moment.

Make sure port 7075 udp/tcp are forwarded to the wallet.

The wallet does no process control and has no ability to start itself back up again.  If you're running this inside a VM maybe the VM is broken?

My wallet won't open anymore; win 10 / x64

When I click nothing happens, and in task manager I can see processes constantly being started then shut down straight away.

Any news about the WIN32 build ?

is there also a problem with peers?
can't find something here, on website or in the group, my wallet says disconnected. is there a node-list anywhere?

it's explained why here : https://groups.google.com/forum/#!topic/raiblocks/42LBeNI5sJI

how can I creat wallet password

https://raiblocks.net/#/start - faucet dont work!

Now to the more interesting topics:

1) I love the simplicity of the system. If there are 0 fees for transfers, what incentivizes nodes to be up and running?

2) Could you try to describe the actual protocol between the nodes? I'm still trying to wrap my head around it. The whitepaper is interesting but doesn't give you the full picture. (At least not to the uninitiated)

3) What constitutes a quorum - is it between a pre-selected subset of accounts? Or is it >50% of all balances?

4) Have you done some simulation and find the limits? How many transactions per second can it actually handle? Does it get better when there are more running nodes?

5) Is all of the supply distributed in the way described, or are there portions reserved for development? If yes, would there be bounties?

Great work!

All is well - I think the wallet was in a weird state - had to restart a few times, then did "Search for Receivables" and "Refresh Wallet"

Basically the Ledger had just the genesis account listed, once it synced correctly it was all there.