Topic: [LAUNCHED] Staisybit - Universal Online Staking Wallet - page 34. (Read 58581 times)

Still a 'bit of mess in my head, but i got the problem to solve, the need.. and you are right so i guess you have well managed the issue. any concrete things to see or still developing locally ? 

Of course.
Firstly you need to understand which is the need, which is the problem to solve. Let's do it with an example:

There are three users: A, B and C.

- A deposits 100 today at 12:00am, B to the same. Hence, total wallet balance is 200.
- Assume that in one day 200 coins generate 2 coins.
- Tomorrow at 11:45am user C deposits 200.
- At 12:00am the wallet generates 2 coins.
- If the calcs would based only on the amount deposited, User A receives 0.5 coin (25%), User B receives 0.5 (25%), User C receives 1 (50%)

As you can understand, this is not fair for two reasons:
1) User A and User B have paid one day of Cloud Staking service, Users C has paid 0 days. If you replicate this scenario for 30 days, you will understand that User A and B would never get benefits from Cloud Staking, or even they get disadvantages.
2) As you know, in PoS coins the mining process is based on your balance. But, probably not all people know this, balance is not the only variable taken to calculate your weight in coin's net. Indeed, QT/C++ wallets do the same calcs i have explained in the Open Post: wallets weight is based on 1) your balance 2) the time that balance passed (untouched) into the wallet.

Now that you got the point, understand the math is easy:

- assume that t1, t2, t3, .... , tN are the time of each cash flow
- assume that cf1, cf2, cf3, ...., cfN are the amounts of each cash flow
- take the time of the first deposit (t1) of the user and do the difference between t1 and t2. Call the result "TimeFrame_1". In TimeFrame_1 we are sure that the balance of the user has not been touched. Now multiply it for the amount of coins deposited (cf1) => cf1 x TimeFrame_1 = w1.  The result you get is a number (which does not have a unit, a measure) which represents in numbers "the X amount which has been kept for T time", where X = cf1 and T = TimeFrame_1.  Call it "w1".
- now take the cf2 and do the same. Assume that cf2 is a withdrawal instead of a deposit. Math is still math:  t3 - t2 = TimeFrame_2 .  (cf1 -cf2) x TimeFrame_2 = w2. What w2 is? It is "X amount which has been kept for T time", where X = (cf1 - cf2) and T = TimeFrame_2.
- and so on until the end. Then do the sum of w1, w2, w3, .... , wN. That is the total weight of a certain user. Call it "TW_user_1"
- now do the sum of TW_user_1, TW_user_2, TW_user_3, ..... , TW_user_N . That's the total weight. That's the allocation base. Call it "AB"
- Finally, get the shares: TW_user_1 / AB % ; TW_user_2 / AB % ; TW_user_3 / AB % ..and so on..

Cheers

seems promising. Waiting to know pricing strategy i have bookmarked this
could you explain better the shares calcs?

Introducing Cloud Staking

If PoS is the future of mining, StaisyBit is the future of staking. You no more have to care about wallets updates, sync issues, wallet security. With Cloud Staking you just have to remember your login.
One wallet, multiple accounts. Users will get benefits in keeping their coins on StaisyBit. Indeed, in PoS coins, the probability of generate a PoS block depends on wallet balance; having one wallet for all users, StaisyBit is able to give you the same benefits that a pool gives to PoW miners; in other words, with Cloud Staking you earn more than what you could gain by keeping your coins in your computer.  

PoS is nowadays the most used consensus system. Crypto-world is growing day after day and Alt-Coin communities welcome dozens of new users, of new crypto-enthusiasts, every day. But honestly not all persons are happy to deal with wallets updates, sync issues, forks or even they do not like to leave their computers up for the whole day, or, again, they are not in tune with the functionalities of the QT wallet itself. So, StaisyBit brings staking to everyone, from newbies to experts, from small investors to whales. StaisyBit is for everyone.  


StaisyBit briefly explained
There already are few Companies/Teams whom have released a sort of Cloud Staking recently. They have done a good work, really, i am not here to disparage them. But StaisyBit is something different, it's something more. I am going to list its main features/functionalities, focusing the explanation over the features which make our service new, innovative and user-friendly.

• Coins served:
  we do not give to users a list of coin to stake. Instead, users will give us a list of coins they want to see on StaisyBit. We are willing to host all requested PoS coins, provided they have more than one request and a stable blockchain; also, we will not add coins with less than 1 month of life or without a block explorer.
  
  
• User experience:
  you can think at StaisyBit as an online staking wallet. An easy to use interface gives to users a complete overview of each coin they own: balance, coins staked, general blockchain data (block height, connections, PoS diff), transactions. All our efforts in these almost 7 months of development were focused on the user experience. Also, each wallet has a section "News" where we put the links to every coin-related web site: bitcointalk forums, exchanges, block explorers, official website and, obviously, our Cloud Staking charts. On StaisyBit you have all what you need to manage your coins and make investment decisions, just in one html page.
  
  
• Wallet functionalities:
  each user has his specific address. You can send coins to that address whenever you want, the amount will be added to your funds as soon as the transaction is confirmed. You can withdraw your funds, whenever you want. Also, generated coins will be added to your account as a credit, as soon as they are confirmed by the blockchain.
  
  
• Security:
  the web server will be entirely covered by SSL. Also, we recommend the use of 2FA. We have chosen Authy, a company which provides 2FA services through a smartphone app and a Google Chrome app, as well as through SMS and Voice Calls.
  
  
• Fees:
  Fees are set as follow:
  
  
  • Deposits: 0.25%
  • Withdrawals: 1%
  • Staking: 5% (before say "hey, 5% is too much!!", please read more about how staking fees are shared among all users)

Technical notes

• Staking fees: guess what, users share fees too
  Staking fees (5%) are applied on the value of the block generated, therefore the fee itself is shared among all the participants, ensuring a very lower impact on the single one. An example with numbers is here.
  
  
• Single-node and Multi-node Cloud Staking
  The actual staking process is done by only one wallet for each coin. To avoid issues on the blockchains, we will set a limit: StaisyBit's wallets can hold, at most, the 30% of total supply of each coin.
  To be honest, we have developed and tested a multinode Cloud Staking system, which would allow us to spread funds over different nodes, but it dramatically increases costs; hence, we may be able in the future to move from a single-node to a multi-node system, but it will depend on the cash flows size of this business.
  
  
• Cloud Staking sharing system
  "One wallet, multiple accounts" needs a well designed sharing system, the core of StaisyBit's functionalities. Shares are calculated as shown below, and updated every 20 minutes (or when the system detects a withdrawal or a deposit).
  The system calculates the weight of each user. The math used is similar to MWRR (money-weighted rate of return). An example:
  
  (i have replied to a question here, that's a good example)

Future features/development roadmap


There are lot of features we are going to add, once (and in case that...) StaisyBit will reach a substantial amount of users/cash flows. Here are some of those features:
- automatic withdrawals of staked coins, once credited/confirmed
- buy/sell directly from StaisyBit's online wallet through APIs, on exchanges where this is possible
- chat as way to communicate with others online users or Admins.
- Application for MobilePhones . This will finally bring the wallets of all cryptocoins to mobile users lovers


Make a donation


To everyone:
We are proud to say that this project has been funded by us so far. Almost 1 year of development and production phase required a lot of funds. If you like our project and want to contribute to its development, just send here 33YMZdX4MrKzJeEKejZ7w1QDGNT8xXrMvx your contribute and send us your e-mail via private message. Of course, when StaisyBit will be online we'll remember your goodness.
Thank you.

To coin developers/communities:
Staisybit servers (3 at the moment) will act as 24/7/365 nodes, contributing both to securing the network (staking) and to improving network connections. Therefore, we'd appreciate to receive donations from developers (or communities) of all currencies we serve. Donation amount is your choice, even if we usually agree for a donation of 0.2/0.3 BTC, which seems fair considering that a single node costs at least 40 $/year , while Staisybit offers 3 nodes to be paid only once. Address for donations is 33YMZdX4MrKzJeEKejZ7w1QDGNT8xXrMvx .
Thank you.


Official WebSite and Social


Web Wallet staisybit.com
API documentation api.staisybit.com (not ready yet)
Reach us on twitter at @staisybit.
Support [email protected]


SIDE NOTE: this is not a self-moderated thread, hence: we accepts critics and suggestions, as well as questions and clarifications. But we do not accept fools, FUDs or offensive statements to StaisyBit, at least before launch. Also: this is not a coin, this is a service. No ICO/IPO here. Do not ask for launch date. Do not ask for pictures (by the way, we are uploading to an Imgur album some pictures).