Topic: Closed Thread - page 372. (Read 677687 times)

1) How do you confirm the transaction
-When Adding transaction peers sends it all when another peer receives a new transaction, and it is valid, it again sends it to all active peers, if the transaction is already with peer and came transaction is valid - it is added confirmation

With this work we want to achieve high speed confirmation, so you can get more than 50 - 100 confirmation in less than 1-3 seconds
If the user Node will pay in the store will receive a quick result as Visa or PayPal

2) How does the verification blocks
- Similar to confirm the transaction

At Node double verification blocks
- When the blocks generates all of its peers are checked for validation
- At the start of the client

Node checks the transaction and blocks
- Not validate the transaction will not be added to the block,
- Not valid block will not be added to blockchain

Therefore, we take more time beta testing we want to debug the Node.

We are preparing a white paper, you will soon learn the full functionality of

How to get this coin?

in aprox. 2 weeks

When an exchange coming?

What if each node has to go through a ntp check on startup to make sure they are within a certain time frame (can't more then 10 secs out)? When a node sends a txs it is checked against other nodes to see if it falls within that time frame, if not then that txs gets rejected and the node that sent it would get blacklisted. There would have to be checks in place to stop someone from adjusting the time once your node is running.

There is a crypto out there that does this, it is still in beta but it works. I don't want to give the name because for personal reasons I don't want to give support to the crypto.

If there is demand for CNY?

If you use coinmarketcap, most alternates have between 5% to 60% of their volume being CNY and another big percentage being BTC on Chinese exchanges.  I would say the demand looks sufficient for CNY.

The intent of a blockchain is to secure a time-stamped historical log by proving that time has passed since the history was logged, and that the network as a whole has agreed this time has passed.

What prevents someone from warping the clock consensus of the network with a classic Sybil attack?

I'm thinking that since the txs is confirmed by many nodes then a block is made and since the txs in the block have already been confirmed then the block is secured and becomes part of the blockchain or whatever it is called.

If i install the client would i be able to get a small of coins to do some testing?

Well it is as fast as paypal it seems lol now as HunterMinerCrafter said there may be some security matters ? Interesting concept though !

It is certainly fast, although  we have't compared it with other cryptos yet! We are pioneering and further testing has to be performed in order to reveal the full potential of this idea!

Is this different from the original code, or did I misunderstand BlockGenerator.prototype.handleVerifiedPeer?


So if I make a transaction and then no-one else does, what serves to secure my block?  How can we trust the ledger state without a continuous volume of transactions?

Wow so the thing is blazing fast to confirm (faster than any other crypto ?) and blockchain is less bloated without unnecessary blocks. Sounds great !

When a transaction is generated, it is instantly sent to all available peers to be confirmed! The total confirmed # is calculated and displayed instantly - that is why we refer to them as instant transactions. The transaction then is putt in line for the block creation,  A block is generated at a 60 s interval. Containing at least 1 transaction. The Empty transaction issue is ignored as the mining concept is removed.

You can see the source for the first test version here http://pastebin.com/a7JzU7kv still.

Of course some changes will have been made, but you can see the general idea.  I've only skimmed portions of the code, I've been meaning to get back to it but have been a little busy with Moto, HEH.

Actively forging peers maintain a list of other "verified" forging peers who are online and logged in.  "Verified" basically means that their claim of historical transaction volume matches your own.  Transactions and blocks are "confirmed" independently.  "Confirmed" basically means the thing has been passed around and signed by verified peers.  There is a particular (fixed, in the original version?) amount of "passing around" that needs to occur on trasactions, but I'm not sure why this is.  I'm not sure if there is something similar for blocks.  EDIT2: I found it... for blocks it just needs to get to a 50% "go ahead" from verified peers.

SO, basically what you are seeing for "comfirmation" on blocks/tx is the amount that the thing has been passed around and signed so far, not a block depth.  (Assuming I'm understanding things correctly, which is a big assumption.)

EDIT: This is very similar to how Credits works as well.  In both cases, block security is established by consensus voting rounds instead of a lottery voting mechanism as in traditional PoS/PoW.

That what i'm thinking yeah something like that cause if you look at old blocks the number of confirmations is totally random, like it depends on the number of nodes on the cloud when the block was generated.

Either it's genius or dumb i don't know yet lol

I have wondered this also, and not just about nodecoin.  I'm growing increasingly convinced that a 100% pre-mine is somewhat incompatible with proof-of-stake, for a multitude of reasons.  Although it "could work" it has some potentialities that are unpleasant.  What you've brought up here is one of the two primary reasons - unless the coin has a continuous transaction volume right from the beginning, and maintains it perpetually, there would be no incentive to stake if there is no associated coin-base claim, and no blocks would be produced without transactions coming along and giving incentive via the fee.  If no blocks are consistently produced time-stamping easily becomes unreliable and the whole rest of the crypto-currency model falls over from there.

I will not go into the other major problem that I see with the combination, as I've already detailed my thoughts on that in the Credits thread.  It also suffers from both potential problems.

I still hold some hope for nodecoin but they need to get their act together and start openly discussing these matters, and potential solutions, before the wheels fall off.

Maybe the txs get sent to various nodes to be confirmed in the same block? Now i'm really curious 

I just made a small transaction i'm the last block and it's marked as 5 confirmations already with no blocks behind haha

I don't know how this thing work i'm curious 

No whitepaper?