Topic: | Nxt | Blockchain Platform | Proof of Stake | Official - page 427. (Read 941285 times)

I'd like to announce a new feature. Today I committed code related to Economic Clustering (EC). This concept is a development of the idea of Economic Majority introduced by Meni Rosenfeld.

In his notes BCNext states that EC solves the most critical flaw of Proof-of-Stake concept, according to the description this flaw is what others call "Nothing-at-Stake" problem. The 3rd part of the Plan contains such the words:
That was said about EC.

The concept of economic clustering is quite simple. Words "economic majority" say enough to explain how it works. From technical point of view it means that if someone decides to rewrite the history of the blockchain he won't be able to include transactions of those who don't take part in the attack, because every transaction contains the id of one of the recent blocks. When Alice sends money to Bob in exchange for something she'll get what she wants only if Bob validates the transaction. And this can happen only if they are both on the same branch.

Forgers can't forge all branches at once, they are faced with a choice, an attempt to forge more than one branch will lead to their exclusion from one of the clusters.

The proposed technical solution will also be used for analysis of transactions to detect forks. This is one of the reasons why I decided to implement part of EC without waiting for complete TF. Another reason is that proposed solution should be peer reviewed. Recent hot debates on BitcoinTalk regarding Nothing-at-Stake show that people are paying a lot of attention to PoS cryptocoins. This is a good opportunity to get a lot of reviews.

Extra consensus rule mentioned in the 1st part of the Plan is a rule that defines choice of an economic cluster a node sticks too. I can't reveal all the details yet, we still need to build infrastructure of nodes and hubs and (this is more important) to form such a cluster...

someone just opened up a short sale window, and rumor has it there is going to be a forex futures exchange coming soon.

also I'm working on the Virtual Corporations feature.

-bm

Can NXT do more?

What features are coming soon?  I know the exchange is up and running now...

What should we expect in the coming months??

Anon136, I assume the tokens on the AE represent a share in these bars you are showing. The bars are obviously in your possession. So claiming your share would mean that you have to send/ship the physical stuff to that person. We have to trust you for this. So is there a way in which we can eliminate this trust (the crypto world is all about finding trushtless solutions). Even if you are trustworthy then there is the problem of a limited lifespam. What happens if you die (i hope you life long, don't get me wrong).

So i think it would be nice if you could setup a company/organisation/foundation that legaly possesses the silver and would deliver them to anyone who has the tokens. So this company needs to legally acknowledge the NXT blockchain and the silver tokens that are traded on it.

 

im not sure if i want to do that or just have a more general brand. but yes i will definitely be getting a stamping machine and some custom stamps at some point. i really need more feedback from the community. there are soo many things that i could do to improve my business. like literally 2 dozen things that i know of already and of course i can only do one at a time so it would be great if i knew what was most important to you guys so i could put that at the top of my list.

some potential upgrades (in the order i think is most important):
buying a tumbler so that bars will come out with a mirror shine
moving into refining
having a custom 10 ounce mold made so i can start pouring 10 ounce bars
getting stamps and a stamping machine
moving into gold