Topic: BitDNS Bounty (3500 BTC) - page 2. (Read 15555 times)

Namecoin is the software and the blockchain.
Dot-BIT is the DNS servers, tools, wiki resources and support forum.

If you donate here, it'll go to the namecoin software author (vince) who promised a least 30% to "other developers and promoters"*.

So, they are pretty much the same, except people are differents :p
I don't want to steal the bitDNS bounty neither, so, donate to vince who initiated all this (i'll track him with my whip to get some BTC :p).

Pretty much? Are the current Namecoin currency compatible (on the same system) as this?

They are pretty much the same.

Is this different than the current Namecoin (dot-bit.org) bootstrap project, or are they one in the same?

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Hash: SHA512

Thank you for the vote of confidence.  Sounds like there are no major objections.

The next steps for the project are:

- - building more client side tools, including an easy to use resolver drop in
- - better registration tools
- - public relations
- - marketing to distributions (Debian), ISPs

Here are my addresses.  Please pick from the list and send a maximum of 100 BTC per address if possible.

19HR5wcUtcb5PEtkGpTyKChcivD61JdcRf
1CKhTKK7knGokt7Vtk7mazR4Y9hJhJzSX1
1J18zj3dKKiZkGTEggveBEzxFtWMAXQ73C
16BRzMegdGAAR2ZZxX3TrZf6r3zEsSDKBH
1P7mCfFrYxsTk9NQdJqvF4YnSTN35vy4j8
1Juuy8QZXAYd6B4aaW3c9mb5PG6YbySboz
14Sn9aBYqfeZrrCo5Z8ycBwgNVaqe2oc3T
19MsNrskooodH56tS3vVeLs7zKNKNPKWgm
1A8daVTcuvm2Q7Vfw9rfLMua6exybDe2nK
1K44aRWSLkmC5KLvzp8awetNob6H99L9ND

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iQEcBAEBCgAGBQJN2wVYAAoJEJz+siqjwOQOFhMH/2QbhcbshNx8UnkvFEfZeM4x
Oe4J0R8aKufJbDN7DKWG065XAPa5xYRa+rSal395VtS5mC2CtIGhxX3/N53hQFp5
ZBpv4kMioQnP3ueQ2QqITEmBjhXO9rCR+4UTA7keSrBx1+IjedK8Wclpz3QxMw/y
gCTtG8cd+DFWvapffNe2SZilWhDBCq9zsREE3jhmaTJCNZod15LAqwxewDp7dyVZ
c+v/B4TgIVb04y4e5pwyVzVHD3fG5zg23Us5orlmoN1D9i2S4WoSm06g8t7p6vjl
Ya9oYfwDS+tRVavaXs56LmLUiuE8JfIf3yce6BV9oRhGfotwOM3LA3QKNlouHiM=
=+Umt
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I'll be using an untrusted computer without access to my Bitcoin wallet from late tomorrow until 13 June. So unless the donation address is published tomorrow, it will be a couple of weeks before I can send my payment. No need to panic, the coins are reserved.

No, I'm happy to pay my 50 BTC. 

This is now going to be the most valuable single donation I have ever made in my life.    But the developer deserves every Bitcent of it for making Namecoin reality. 

How should we go about this, kiba? Are you going to collect the donations first, or should we send them to the developer directly?

thanks for clarifying/pointing links.
thats sounds cool and also can help other decentralised systems, unconnected[yet :}] to bitcoin
or at least this project prevent dns-hijacking at least.

p.s. my ips detect "someone start sinffing you"-things on regular basis, after im start visiting THIS forum. on ISP side[accoring to IPS/IDS] :/

Aim of the BitDNS concept is to have a decentralized DNS system (and domain name registration) which can't be controlled by external entities.
You can read the homepage of the dot-bit project and the about page, which is an implementation of BitDNS concept based on the namecoin software.

sorry for newb question, but what that about ?
something like multicastDNS[which is insecure in "vanilla" state]fork ?
with DNSsec and IPv6 support ?

ill look into this and see if i can do this, or at least start a team of programmers that would be interested in making an underlying framework for it. at the time though, im very busy, so im sure i wont be the first done if more people decide to work on it as well.... pm me if you would be interested in something.

~motsu

Thanks for clarifying, vinced. If the fees can be arbitrarily small, then the 21 million limit is not a problem. And the block size can be increased as necessary. I no longer have any reservations.

The design is better than I had initially thought, and the business model seems sound and sustainable too. I wonder if theymos still has reservations following these clarifications.

Anyway, I'm totally happy and ready to pay my bounty. Namecoin is a great project!

One more point - I will sign the destination address with my PGP key when I post it.  Please verify first.  The PGP key is in the github repo: https://github.com/vinced/namecoin/tree/master/docs.

khal is right on all points, except for the 0.01NC coin attached to the name.  That coin value can be anything, including one micro bitcoin.  There is no lower limit to the attached coin, the network fee or the transaction fee, so that does not limit the number of names.

The block size limit is shared by bitcoin, and will probably be resolved in the same way.  It will be increased when the need arises with plenty of advance notice.

Please go ahead and vote on the bounty.  I will share at least 30% with other developers and promoters.

Thank you khal for your response. I've updated my previous post to reflect your clarifications. The points that are still unclear for me are:

1. Does the block reward stay at 50 coins, or does it reduce over time.

2. Is there a 21 million limit for generated namecoins.

3. The "special 0.01NC that is sent to you and reserved" is the coin that represents the domain name, right? It sits in your NC wallet but can never be spent, even if you let the domain name lapse, right? Where does this unspendable coin come from: the domain reservation, the first update, the renewal, or all of these?

This shouldn't be a problem, same thing apply for bitcoin scalability.

True.


I don't think so, but it should be confirmed by vince (the code seems the same than bitcoin).


It's the same thing for bitcoin. Just a mater of deciding what value will scale well.


The lower limit is 0.01NC for a first update. Cost of a domain is constantly decreasing (second per second), at the rate of 50% each 8192 blocks (57 days) if i understood the code. Vince says "The network fee decreases 2x every 2 months" in the FAQ.
I've reproducted the formula of the source code here : http://dot-bit.org/tools/domainCost.php?block=3561
This is to limit the rush on domain names.


Yes.
All that you pay is lost, except for the fees that go to miners (like bitcoin), and the special 0.01NC that is send to yourself and reserved.
As Vince said, if you want to update sex.bit, it'll cost 0.01NC (lost) + a fee (like bitcoin, miners may refuse your transaction if the fee is too low)


As you promised a bounty for that, you've the right to put some conditions, and explain them. It's up to the implied people to find them reasonable or not. But, for that part, as i'm not the main developper of namecoin, my opinion imply myself only, even if i implied myself a lot in this project.

Vinced estimated a maximum of 30 million names. It seems that this is limited by block size, which can be increased.

So let's see if Namecoin scales reasonably. I haven't used Namecoin, so please correct me if I've misunderstood anything. I'm just looking at Namecoin from the point of view of "do I feel satisfied paying out my bounty?".

Here is my understanding (edited to reflect replies up to 17 May). Please correct any errors:

1. 50 namecoins are generated with every block.
2. The block target time is 10 minutes.
3. Generation difficulty scales the same way as Bitcoin.
4. The number of namecoins per block doesn't decrease. It's 50 forever.
5. There is no 21-million limit to the number of namecoins generated.
6. To reserve a domain costs 0.01 NC plus mining fees, so there is a hard limit of 720000 new names per day, but in practice the limit will be much lower because not all namecoins are used to reserve domains.
7. To activate a domain costs an amount that started at 50 NC but halves every two months, down to a minimum of 0.01NC plus mining fees. So after about two years, the activation cost (cost of "first update") will be as low as the renewal cost ("name update").
8. The renewal cost is 0.01 NC plus mining fees, at least once every 12000 blocks. In practice a figure of twice per 12000 blocks seems realistic, to allow for DNS changes and also for people to renew before the 12000-block deadline to avoid the risk of losing their domain names.
9. The mining fees are kept by the miner who generates the block containing the transaction. The 0.01NC fee to reserve a domain is sent back to you in the form of an unspendable coin that represents the reserved domain. The "first update" and "name update" fees are burned.

If these points can be confirmed or corrected, I'll have a better feel for namecoin's scalability.

(PS: Kiba: chaord's bounty had an expiry date, so the total bounty is lower than your figure.)

Can you say precisely what is limiting the number of domain names ?

The only thing which i'm sure of: the current maximum block size (1M) is limiting the possible number of updates. But, the maximum block size is not a real problem.

Is there any other limit ?

...and bitcoins are divisible. A quarter of a domain name isn't much use to anyone.

Agreed. Limiting the amount of bitcoins was a good idea, because it is a currency. Namecoins is not meant to be a currency, so I don't see the point of limiting the total amount to be created.