[NEW XBY ANN] XTRABYTES - BECAUSE THE BLOCKCHAIN CAN BE BETTER - page 260.

realistic1

full member

Activity: 155

Merit: 100

Quote from: ?? on ??

Newsletter is good. Nicely done, simple but effective.

This coin 'should' be at 1000 sat by now.

I dont know whats holding it back, but I suspect over the next week a push for 1000 sat and beyond is inevitable.

Probably just being on low vol exchanges I expect. Easy to manipulate price down. Even at this early development stage we would be much higher on a Bittrex or similar exchange.

Fourwinds117

member

Activity: 102

Merit: 10

Yes! Thank you for the newsletter 😊

dissident

sr. member

Activity: 280

Merit: 250

Thank you for the newsletter. Little stuff like this and keeping the information up to date makes a big difference.

jaychaps

newbie

Activity: 14

Merit: 0

Is there likely to be another chance to buy a Static node? Or perhaps a master node of some kind? I am interested in this coin.

TOTO6131

member

Activity: 102

Merit: 11

http://docdro.id/tfvjcHG

vanfly

member

Activity: 103

Merit: 10

XBY Newsletter released: http://docdro.id/tfvjcHG

CCRevolution

sr. member

Activity: 602

Merit: 255

Yesterday, one of our dedicated Community Members gathered questions from the Slack that people wanted to ask Borzalom.

Below are the questions, followed by his answers:

1. Here is my question: CCrevolution said : If 1 or several StaTiC nodes go rogue, the others ask them to correct themselves and if they do not correct...they get blacklisted - BOOM Shutdown attack. Now if something would go very wrong and only 1 'good' STaTiC would be left, would it still be able to protect against the rest that went rogue?

1.) If the client isn't fake and it uses the correct last version of code, it will never get blacklisted. This is the reason why we will never have only one client controlling the network.

2. How many nodes would you need to be compromised for the system to be considered insecure, is a 51% attack via nodes possible?

2.) The PoSign is not a voting system therefore 51% or any other percent does not exist. All blocks are signed by all STaTiCs. If only one STaTiC signs the block then it is still valid. Later, if other STaTiCs validate they will also sign.

3. Will the project send coins anonymously and if not will it be possible to add that as a feature in the future?

3.) Anonymity is not the goal, trust is the goal.

4. Can you comment on scalability, will we have no problems if this coin became as big or bigger than Bitcoin?

4.) Scalablity is unlimited.

5. If someone owned ALL the nodes or even 99% of the nodes what could they do? Steal the beats of the coins or shutdown the system? I know it might not be economically profitable to do so but what if a Government later with unlimited resources tried, could it be done?

5.) This is not POW, therefore unlimited resources means nothing.

6. Its a very general question and has already been hinted at. But please can you say more about what makes this more secure than other coins on the market right now. And could you explain the kind of scenario that would have to happen for the system to be hacked even if that is theoretically a long shot. Can you say this coin is 100% unhackable? Or are we talking almost impossible?

6.) I hope 100% unhackable. Please join us in Slack now as we discuss this further... https://young-basin-20186.herokuapp.com/

7. Is it possible to implement a smart contract platform into XtraBYtes in the future, similar to Etherium's smart contracts?

7.) Yes, i have lot of better plans than ETH

Another set of questions:

1. Are the virtual nodes and their network generated exclusively by a new block/transaction that is created by the STaTiC and nonSTaTiC nodes?

1.) The XBY owners create transactions. Nodes validate the transactions only. Nodes never create transactions. The virtual nodes will be creating blocks from validated transactions.

2. Is the number of individual chord nodes possible the same as the number of STaTiC and nonSTaTiC nodes online?

2.) No. The number of virtual nodes is fixed. All virtual nodes are controlled by one or more STaTiC and nonSTaTiC nodes. If the number of STaTiCs is less than virtual nodes then random STaTiCs will control additional virtual nodes.

3. If a virtual chord node is generated only by a new block/transaction created by the STaTiC and nonSTaTiC nodes, then can’t the STaTiC and nonSTaTiC nodes be attacked and disabled by DDOS?

3.) Example: S1 STaTIC controls V1 virtual node. If attacker attacks and disables S1 STaTiC then other ( S2 or S3 ... etc...) STaTiCs will take control of the V1 virtual node until the S1 STaTiC DDOS has stopped.

Thank you for the questions. We will get deeper and deeper into understanding how all of this works once Borz and his Team are able to start showing final results of the work that needs to be fully completed.

CCRevolution

sr. member

Activity: 602

Merit: 255

Quote from: kubricktrader on May 28, 2017, 12:39:55 AM

Quote from: criptix on May 27, 2017, 08:15:44 PM

Hello,

Can someone give me the link to the white paper please?

Edit

I only read the OP. Reading the latest post there is probaly no paper or explanation except code?

We are a young community run project working with no premine budget so all we do is largely volunteer....just keep that in mind.

If you dig into OP and thread and slack you will find more answers to the tech and also we will soon update the ANN with more tech info. The truth is once you read up you will realize there has been no time to write a whitepaper as the tech is still being put in place. If this was an ICO it's would be the same, someone has a set of ideas they want to build, they build a beta and then write a whitepaper explaining it in formal language. The problem is we didn't have that luxury of time so its happening in real time as we go along. Exciting but we all admit not you usual project timeline. And of course there are plans for a whitepaper in acouple of months or so when the tech is done.

I am not part of team just relaying information the community knows. The slack is very active and is where to get more info.

+1 again, thank you!

But we cannot give solid dates for completion of anything, because the innovation here is immense and experimental based on 7 years of theory which resulted from observation and other programming in the crypto world. Therefore, if Borz runs into a road block, he needs to figure out a new way (which he always does). So, this just makes it impossible to give hard dates... ASAP is always the case because we want this as much as everyone else. But, he will not sacrifice security and effect over demands of completion because people want to cash out sooner.

We are in this for the long haul and anyone who understands what is really happening behind the scenes is also in this for the long haul. Contributors are what makes us successful, not speculators... So, the choice is up to each person how they wish to participate.

CCRevolution

sr. member

Activity: 602

Merit: 255

Quote from: kubricktrader on May 28, 2017, 12:32:33 AM

Quote from: CryptoCash17 on May 27, 2017, 11:20:39 PM

Hello, I'm still trying to figure out exactly what it is that XBY does. I have an idea but I'm not sure I'm correct. So it's basically a wallet that allows you to keep your coins online with the same security as with a cold wallet?

Anything else?

Thanks!

Simply it's a new way to do a blockchain. Brand new code, no clone of another con ( pun intended or typo? Cheesy

). The focus is on security using fixed static nodes imbedded into the block in that are trusted and signed. This along with another virtual layer based on Chords P2P technology aims to be fast, scalable and more secure than any other blockchain in in existence. The aim is to solve many of the problems other coins have. The first application will be storage but there are plans for other services to be built upon the coin.

This is very well said... Thank you!

robelneo

legendary

Activity: 3346

Merit: 1214

Payment Gateway Allows Recurring Payments

Quote from: eggsandspamm on May 28, 2017, 01:30:38 AM

Quote from: RedNovember on May 28, 2017, 01:26:09 AM

Quote from: kubricktrader on May 28, 2017, 12:32:33 AM

Quote from: CryptoCash17 on May 27, 2017, 11:20:39 PM

Hello, I'm still trying to figure out exactly what it is that XBY does. I have an idea but I'm not sure I'm correct. So it's basically a wallet that allows you to keep your coins online with the same security as with a cold wallet?

Anything else?

Thanks!

Simply it's a new way to do a blockchain. Brand new code, no clone of another con. The focus is on security using fixed static nodes imbedded into the block in that are trusted and signed. This along with another virtual layer based on Chords P2P technology aims to be fast, scalable and more secure than any other blockchain in in existence. The aim is to solve many of the problems other coins have. The first application will be storage but there are plans for other services to be built upon the coin.

ok sounds interesting. I am trying to understand how the fixed static nodes work if people break the nodes. For example I read through this thread and you've got something like 496 static nodes on the first block at 50k. So that's pretty good. Now, what happens when the price spikes as it did to 700 satoshi, and those people who own the nodes break the nodes and sell? Does the security of the system go down? what if half sold (which i know did not happen, but theoretically?) I'm just trying to understand the security of the system when there is such a large pressure to break node and sell for profit

Of course there will be financial incentives to not break nodes such as monthly payouts etc but from what I have gathered there are plans to allow static nodes that get broken to be replaced, don't know specifics or details but if some nodes get broken to sell, the system won't go down, the node will just be replaced by another.

That is a good plan it's an assurance that the nodes will continue to exist,XtraBYtes will have people who will continue to support by having a set of master nodes to support the system I'm accumulating more XtraBYtes so I can run one I'm glad that Yobit finally fix the wallet I can now withdraw the XtraBYtes I've purchased.

realistic1

full member

Activity: 155

Merit: 100

Quote from: CryptoCash17 on May 28, 2017, 05:28:23 AM

Quote from: kubricktrader on May 28, 2017, 12:32:33 AM

Quote from: CryptoCash17 on May 27, 2017, 11:20:39 PM

Hello, I'm still trying to figure out exactly what it is that XBY does. I have an idea but I'm not sure I'm correct. So it's basically a wallet that allows you to keep your coins online with the same security as with a cold wallet?

Anything else?

Thanks!

Simply it's a new way to do a blockchain. Brand new code, no clone of another con. The focus is on security using fixed static nodes imbedded into the block in that are trusted and signed. This along with another virtual layer based on Chords P2P technology aims to be fast, scalable and more secure than any other blockchain in in existence. The aim is to solve many of the problems other coins have. The first application will be storage but there are plans for other services to be built upon the coin.

What are some of the other services that will be built upon this coin? Can you give me an idea? Thanks

We don't know the developer doesn't want to give too much away at such an early time. But we do know storage is the first service. Decentralised safe as houses storage, thats not such a small thing to start with.

CryptoCash17

newbie

Activity: 4

Merit: 0

Quote from: kubricktrader on May 28, 2017, 12:32:33 AM

Quote from: CryptoCash17 on May 27, 2017, 11:20:39 PM

Hello, I'm still trying to figure out exactly what it is that XBY does. I have an idea but I'm not sure I'm correct. So it's basically a wallet that allows you to keep your coins online with the same security as with a cold wallet?

Anything else?

Thanks!

Simply it's a new way to do a blockchain. Brand new code, no clone of another con. The focus is on security using fixed static nodes imbedded into the block in that are trusted and signed. This along with another virtual layer based on Chords P2P technology aims to be fast, scalable and more secure than any other blockchain in in existence. The aim is to solve many of the problems other coins have. The first application will be storage but there are plans for other services to be built upon the coin.

What are some of the other services that will be built upon this coin? Can you give me an idea? Thanks

aarell

sr. member

Activity: 392

Merit: 250

Quote from: CryptoCash17 on May 28, 2017, 01:45:57 AM

Thanks for your answers!

I see so it's to do with the Blockchain.

So for investors owning more than 1,000,000 XBY coins that means they qualify to now become a STATIC NODE which in essence allows them to profit share in the company?

Is this correct?

I'm obviously not a tech and I don't pretend to be but I find it fascinating and believe in it fully. My partner and I own a healthy investment in XBY.

I heard there was some great news last couple days about breaking the 50 block. What is this 50 block I keep hearing about?

Thanks!

https://www.youtube.com/watch?v=VnweayYyhlQ
Registration of nodes was open till 50k block.Second round of nodes registration is expected to start within few days.To acquire a static node the requirement is 500100 xby.

CryptoCash17

newbie

Activity: 4

Merit: 0

Thanks for your answers!

I see so it's to do with the Blockchain.

So for investors owning more than 1,000,000 XBY coins that means they qualify to now become a STATIC NODE which in essence allows them to profit share in the company?

Is this correct?

I'm obviously not a tech and I don't pretend to be but I find it fascinating and believe in it fully. My partner and I own a healthy investment in XBY.

I heard there was some great news last couple days about breaking the 50 block. What is this 50 block I keep hearing about?

Thanks!

eggsandspamm

full member

Activity: 299

Merit: 100

Quote from: RedNovember on May 28, 2017, 01:26:09 AM

Quote from: kubricktrader on May 28, 2017, 12:32:33 AM

Quote from: CryptoCash17 on May 27, 2017, 11:20:39 PM

Hello, I'm still trying to figure out exactly what it is that XBY does. I have an idea but I'm not sure I'm correct. So it's basically a wallet that allows you to keep your coins online with the same security as with a cold wallet?

Anything else?

Thanks!

Simply it's a new way to do a blockchain. Brand new code, no clone of another con. The focus is on security using fixed static nodes imbedded into the block in that are trusted and signed. This along with another virtual layer based on Chords P2P technology aims to be fast, scalable and more secure than any other blockchain in in existence. The aim is to solve many of the problems other coins have. The first application will be storage but there are plans for other services to be built upon the coin.

ok sounds interesting. I am trying to understand how the fixed static nodes work if people break the nodes. For example I read through this thread and you've got something like 496 static nodes on the first block at 50k. So that's pretty good. Now, what happens when the price spikes as it did to 700 satoshi, and those people who own the nodes break the nodes and sell? Does the security of the system go down? what if half sold (which i know did not happen, but theoretically?) I'm just trying to understand the security of the system when there is such a large pressure to break node and sell for profit

Of course there will be financial incentives to not break nodes such as monthly payouts etc but from what I have gathered there are plans to allow static nodes that get broken to be replaced, don't know specifics or details but if some nodes get broken to sell, the system won't go down, the node will just be replaced by another.

RedNovember

member

Activity: 112

Merit: 10

Quote from: kubricktrader on May 28, 2017, 12:32:33 AM

Quote from: CryptoCash17 on May 27, 2017, 11:20:39 PM

Hello, I'm still trying to figure out exactly what it is that XBY does. I have an idea but I'm not sure I'm correct. So it's basically a wallet that allows you to keep your coins online with the same security as with a cold wallet?

Anything else?

Thanks!

Simply it's a new way to do a blockchain. Brand new code, no clone of another con. The focus is on security using fixed static nodes imbedded into the block in that are trusted and signed. This along with another virtual layer based on Chords P2P technology aims to be fast, scalable and more secure than any other blockchain in in existence. The aim is to solve many of the problems other coins have. The first application will be storage but there are plans for other services to be built upon the coin.

ok sounds interesting. I am trying to understand how the fixed static nodes work if people break the nodes. For example I read through this thread and you've got something like 496 static nodes on the first block at 50k. So that's pretty good. Now, what happens when the price spikes as it did to 700 satoshi, and those people who own the nodes break the nodes and sell? Does the security of the system go down? what if half sold (which i know did not happen, but theoretically?) I'm just trying to understand the security of the system when there is such a large pressure to break node and sell for profit

kubricktrader

full member

Activity: 384

Merit: 103

Quote from: criptix on May 27, 2017, 08:15:44 PM

Hello,

Can someone give me the link to the white paper please?

Edit

I only read the OP. Reading the latest post there is probaly no paper or explanation except code?

We are a young community run project working with no premine budget so all we do is largely volunteer....just keep that in mind.

If you dig into OP and thread and slack you will find more answers to the tech and also we will soon update the ANN with more tech info. The truth is once you read up you will realize there has been no time to write a whitepaper as the tech is still being put in place. If this was an ICO it's would be the same, someone has a set of ideas they want to build, they build a beta and then write a whitepaper explaining it in formal language. The problem is we didn't have that luxury of time so its happening in real time as we go along. Exciting but we all admit not you usual project timeline. And of course there are plans for a whitepaper in acouple of months or so when the tech is done.

I am not part of team just relaying information the community knows. The slack is very active and is where to get more info.

kubricktrader

full member

Activity: 384

Merit: 103

Quote from: CryptoCash17 on May 27, 2017, 11:20:39 PM

Hello, I'm still trying to figure out exactly what it is that XBY does. I have an idea but I'm not sure I'm correct. So it's basically a wallet that allows you to keep your coins online with the same security as with a cold wallet?

Anything else?

Thanks!

Simply it's a new way to do a blockchain. Brand new code, no clone of another con. The focus is on security using fixed static nodes imbedded into the block in that are trusted and signed. This along with another virtual layer based on Chords P2P technology aims to be fast, scalable and more secure than any other blockchain in in existence. The aim is to solve many of the problems other coins have. The first application will be storage but there are plans for other services to be built upon the coin.

CryptoCash17

newbie

Activity: 4

Merit: 0

Hello, I'm still trying to figure out exactly what it is that XBY does. I have an idea but I'm not sure I'm correct. So it's basically a wallet that allows you to keep your coins online with the same security as with a cold wallet?

Anything else?

Thanks!

aarell

sr. member

Activity: 392

Merit: 250

Quote from: criptix on May 27, 2017, 08:15:44 PM

Hello,

Can someone give me the link to the white paper please?

Edit

I only read the OP. Reading the latest post there is probaly no paper or explanation except code?

Whitepaper not released yet.

Topic: [NEW XBY ANN] XTRABYTES - BECAUSE THE BLOCKCHAIN CAN BE BETTER - page 260. (Read 371137 times)