Topic: How the XtraBytes Blockchain works. Mind Blown. (Read 1106 times)

After reading a bit more about this coin on the actual official website. The "Static" nodes do in fact have to be trusted. If 50% + 1 of them are "bad", they can reject the blocks from all other nodes and eventually blacklist them. If there was a real financial incentive, someone could come along right now and take over the network.  So it doesn't solve anything. I also don't see anything on there that says that other nodes can actually validate the blocks and thus act as a way to double check the static nodes and ensure they're honest. Maybe it exists but it's not there.

Reviewing the the post history of the key people involved is also concerning. Nothing in their early post history shows any indication of them actually knowing much about actual development etc. No posts in any technical discussion whatsoever, just posts in other coins talking about investing etc. In fact, the lead developer talks about how he has money in the orginal XBY and so wants to resurrect the project in order to get it's value back up.  At one point the lead developer posted a pre-ann about starting some new coin which went no where but had this "All trusted online node sign the accepted blocks. The trusted keyless nodes help the transaction validation processes and preventing abuse. Untrusted nodes collect "node bounty" from trusted nodes.". Notice the similarities and how many things have to be trusted?

Anyway, I've wasted enough time on this. I'll wait for a whitepaper now.

Saying something won't work just because isn't a valid point, you simply didn't point out any issues. Yes you are right you should come back when there is a whitepaper.

Saying it solves a 51% problem does not make it so. Until there is a white paper and it's reviewed by all the real cryptographers/devs (that have years and years working on this stuff) out there it's all just words and promoting it as the answer to all the issues out there is disingenuous at best. Not one single coin has solved all the problems with cyrpto currencies and neither will this one.

Why is it was soon as someone starts pointing out issues with a coin it's immediately labeled as FUD. Do you expect people to just be good little sheeple and follow along like good little boys and girls? Have you even gone and read all the dev emails etc on bitcoin? Those guys "fight with each other back and forth all the time and don't consider it FUD. They're simply debating issues.

I'll tell you what. I'll stop saying anything until there's a serious whitepaper. Then I'll review it and I'll start to point out all the flaws and attack vectors etc. Will I still be FUDing at that point? Again. I do not have a favorite coin. They ALL have problems and I'll point them all out to anyone. Without real facts, putting money into something is just foolish.

You are twisting words now, I said the static nodes were signed and therefore trusted....no one said anything about the system not being trust less...Domyou want to understand this or just FUD?

As you know there are flaws in cryptos security, 51% attack for one which has gone from theoretical to a genuine threat from miners. If you know the crypto world are you honestly going to say IF 51% attack is solved its not a big thing? Lol

https://blog.sldx.com/whats-wrong-with-proof-of-stake-77d4f370be15

Serious real crypto currencies are trustless. They don't rely on trusting some entity that could end up going bad or being copted. That was one of the ENTIRE purposes of even doing crypto currencies in the first place.

You can read on masternodes here related to Dash masternodes.

https://dashpay.atlassian.net/wiki/plugins/servlet/mobile?contentId=1867864#content/view/1867864

BUT this is NOT a masternode, XBY has two types of node, Static and non static. Static are hard wired into the chain and are signed and trusted, they will give an income in form of fees and also later services. Non static nodes I believe will just be like normal masternodes and will earn fees, but are not hard wired into the chain.

BTW You know what. I have every reason and right to hype this coin as it seems at least to solve the security flaws in POW and POS. So how about you fuck yourself for not being intelligent enough to look more closely and falling back on cliques about hyping holdings.

I apologise for this other member, he is in error. There are no 'Masternodes' they are signed static nodes which behave very different to masternodes, we would have to hard fork to put them in place again. It's a semantic mistake.

I thought it was pretty obvious I am 'hyping' praising, get excited about, call it what you want in this thread. Was that in anyway hidden in the title! Lol

The other thread is a genuine call to higher level people to validate my beliefs, at all times very willing to be wrong. They are what they are. I still didn't get any answers yet so gave up.

that's ur opinion, stop talking like it's a fact

Are you insane. Not one serious crypto currency developer would say that. They're a single point of failure. Given what I watched happen to spammers in the early days of the internet as they got pushed out of hosting companies until they were limited to a handful of countries, I can guarantee you that all coins with masternodes will eventually get killed off.

Really? So given the OP started this other thread awhile ago, it's now clear he's just trying to hype/promote his favorite coin. How stupid can you be.

https://bitcointalksearch.org/topic/are-there-any-smart-people-who-can-evaluate-this-1927144

Blatant troll post. XBY emphasizes security. Masternodes prevent centralization. There's no coins inside them which further eliminates incentives. If you somehow manage to corrupt a single node, you get a 0 coin reward and the node gets instantly blacklisted by all other nodes. All keys related to that node become worthless, and the only other key that node contains is the address of the spendable wallet just in case the hackers want to give some xby to the owner of that node 

Though to be fair you are the developer of a coin called healthyworms to encourage and support the farming of worms. Not reeeealy normal is it. I mean what is your target audience......serial killers?

Neither

You are either trolling or clueless.

Hahaha Centralised? How can P2P be centralised? Me thinks you don't understand CHORDS.

https://www.slideshare.net/mobile/GertThijs/chord-presentation

Looks fairly centralized. No thanks. Plus masternodes lol

Opens up plenty of new attack vectors with no actual work being done other than signing blocks. Insecurity for the sake of buzzwords if you ask me

I was already a fan of XtraBytes but after reading a blog post today a community memeber made I was blown away by how revolutionary this thing is going to be.


https://medium.com/@xxxxxxxddfeutt/how-the-xtrabytes-blockchain-works-69979081bf42