Topic: Idena is the first Proof-of-Person Blockchain - page 9. (Read 44019 times)

Its a network with unique consensus - proof of person. Thanks to that it have different characteristics and possibilities than POW and POS which has its pros and cons.

Pros:
1- high decentralization
2- possibility of sharding (scalability without losing decentralization)
3- not money driven voting (oracles)
4- Sybil resistance, non KYC virtual identity (solution for bots on forums, twitter, metaverse)
5- after IIP-5 - far more decentralized staking than on any other staking platform.

Cons:

1- its at experimental stage (but so far network survived almost 3 years)
2- so far its AI resistant but future is unknown

But what is its utility in the real world

Hotbit was one of the worst place to trade idna. Only probit is worse. Qtrade is much better, they never did unexpected mainternance, never lost my deposit/withdrawal, dont fake trades. bitmart force KYC (I advise against doing KYC on small, bad exchanges). But the very best place is pancakeswap. The safest place and the biggest liquidity.


I agree here. This is one of the most important update that change whole project tokenomics. Its should be widely announced.

as Hotbit has been hacked/closed again, i.e. stopped use, trading, withdrawal, etc. what to use now for Idena trading?
is trading on Bitmart normal, without unexpected things?

also, my nod has been offline for a few days. I think it gets stuck during initialization because I don't even get around to counting down the remaining blocks until full synchronization.
what do I need to do? some cache to wipe?

yes indeed it depends on how many coins are at stake in the hope of attracting investors to follow this and increase the price of IDENA, unfortunately it has not really been seen until now when the staking reward event was held there was no change in the price of IDENA, so before and after IIP- 5 will not have any effect on the price of IDENA if IDENA is not widely introduced

It will change nothing. The picture you posted shows network statistics (how many farms of type x we have and how much all of them earn). It does not say that by making farm smaller you will earn more. just like average penis size in Ecuador is 17,6 cm. It does not mean that your penis will get bigger after you move there from your country (f.e Taiwan with average 12.6 cm). After IIP-5 earnings will depend on amount of staked coins. Number of nodes in farm does not matter. Their decision will be:

1- accept 30-50% lower returns
2- load each node in farm with 1000 IDNA (dont know exact number) risking your money when node fail validation
3- kill farm, start small farm with few nodes (that you are 100% sure they are decent in passing validation) and load them with 30 000 IDNA each possibly getting even higher returns

some pool owners may split their pools into family pools or medium pools or choose a solo mining path, I think before or after IIP-5 will not give any other surprises from IDENA and it is difficult to raise the price if IDENA is not well introduced by their community globally. By the way, I'm still here to support IDENA because Dev continues to work on IDENA's development even though I know IDENA can't do anything great at a time when the market is bearish like it is today.

Devs are very skimpy. They announced many marketing programs (including bitcointalk signature campaign) but all of them were very poorly rewarded. Like write article and the best wins 500 IDNA (15$ for best article XD). I think its mainly because whole marketcap is 2 mln $ and spending thousands on marketing may not be the best idea. Especially when you know your project is unique and worth 100x more. They know that its not a sprint. especially that they still work on stability of network (f.e IIP-5 update that focuses on ensuring safe/healty/stable growth of network) It would be much harder to do it with 200k nodes.


Number of nodes is decreasing because of bear market and price dump. Few farmers quit because it was hardly profitable to mine at this price. After IIP-5 we will see even bigger drop in number of nodes because farms will be even less profitable and few farm owners already declared that they will leave. Good for us, solo miners.

Dev never thought about marketing to promote IDENA widely and introduce IDENA to everyone, still a question mark now where are the ambassador funds that should be used to make IDENA widely famous?

Just look at the validated identities that are decreasing day by day because the interest of the community decreases, maybe IDENA can form ambassadors from each country so that IDENA is more widely known and the ambassador's funds should be used to finance ambassadors to promote IDENA so that it can attract local investors to adopt IDENA and make value better, Dev never think about marketing or promotion

IIP-5 is not live yet. We just won voting and update was announced:

"Dear Idena community,

The Oracle voting for IIP-5 is finished.  The vast majority (89% of voters) voted in favor of the proposed changes.

The introduction of IIP-5 is a turning point in IDENA tokenomics which was based on the principle of equal rewards. Unfortunately we've seen that such a model encourages coercion, the growth of pools and does not promote decentralization.

Idena protocol, driven by democracy, is capable of responding to the challenges. We sincerely appreciate your support! IIP-5 changes will be integrated in the next hard fork. Please follow the updates."
https://t.me/IdenaAnnouncements/1118


To be hones I lost a lot of hopes with this project when farms were discovered. I posted here many times that not fighting them is a mistake. But I couldn't quit this project. Main goal of it was so unique and beautiful.

Likely devs realized it too and find out a great solution. As far as I know many farms already declared that they are going to leave after IIP-5. We are back on track as true POP network with 1 node equal 1 vote. Without farms that were robbing solo miners from revenue, leeches that pulled capital out of the network, giving only a negative value in return - cheated flips (picture of first word, picture of second word, paints, 2 words painted in frame).

Its great to see that even with them network was able to shake them out in democratic vote showing that money/farmed identities in the end of the day wasn't able to stop democratic network from shaking off the leeches (if they will, in fact, leave).

After they leave solo miners revenue will pump and people will bring here their friends to mine. Some of them will only mine, some of them will invest. Network will start new life.

In my opinion, together with new life of network, price will fallow. I bealive it first time in months. Especially with one of a kind staking (high yeld for small/middle miners, small yeld for whales. All combined with sybil resistance).

With or without IIP, each of my coins still worth $0.03 the ATL price after 2 years.

The devs (community devs) should see that something  is not working by now, should see something needs to be changed.

My 2 cents.

New proposal from idena team is about to change the mining rewards:

"Dear Idena community,

⚡️To encourage an increase in the number of validators, we propose to change the distribution of mining rewards based on quadratic staking.
The proposed change does not affect the consensus mechanism, which implies equality of votes when verifying blocks according to the principle: one node = one vote.

Please see the IIP-5 here

 (https://docs.idena.io/docs/iip/iip-5)Join the discussion of this proposal on Github (https://github.com/idena-network/idena-docs/discussions/81)"
https://t.me/IdenaAnnouncements/1107

less coins for big farmers more coins for solo nodes.

It was just a hotbit error. Had the same thing yesterday. I think it was just a display error (order books were full and active, they were just not loading). Today everything is back to normal.

And hotbit is not the best solution for idena. Pancake swap has much better liquidity.

what is the problem with Idena on Hotbit exchange?
somehow everything seems very strange and twisted to me on the desktop app. I see only two sell orders. I know that exchange is not the best or the fastest, but for Idena it is the best solution for now.
Is this just me or does it happen to everyone?

There is a new version of the Idena Node available: 0.29.2

Changes:
- IPFS upgrade
- Validation ceremony vulnerability fix (credits to @Zen, 💰bug bounty is sent)
- Bug fixes

🚨Please read it:
1. IPFS upgrade requires extra space on your hard drive. Make sure to have free space required for another copy of your /ipfs folder.
2. If the node can not start please delete /ipfs folder.
3. IPFS upgrade may take some time when the node starts for the first time.


have you read the update here
https://medium.com/idena/idena-chronicles-0086-c80997d9c785

I have an account that I can't run in delegated staking for the next two validation periods, so I decided to terminate it.
I haven't done that so far, so is it enough to just terminate it through the wallet and will I be able to transfer the stake balance to another address later? is it just those two steps?

btw. what is the reason why I can't delegate this node in the next two epochs?

Idena validation results for epoch #88

👤 Identities validated (https://scan.idena.io/epoch/88/validation): 12,466

💸 Validation rewards paid (https://scan.idena.io/epoch/88/rewards): 545,052 iDNA

🚫 Reward for flip report: 8.197 iDNA

Minimum total score for Humans to get the second invitation and Verified to get an invitation: 100%

https://t.me/IdenaAnnouncements/1097

stay tuned to see IDENA's future growth

I have heard about this project before of being one of the most Decentralized project in the crypto world that help uses stay anonymous.
It seems to be the first proof-of-person blockchain based on democratic principles. Users can use only one wallet and stay anonymous from the market. I had so many flips then and it was a great project.

glad to hear it's released, I think we'll see the moon