Topic: NXT :: descendant of Bitcoin - Updated Information - page 626. (Read 2761629 times)

Again these are "trade offs" you might decide to make (as a retailer for example) in regards to "trust vs. speed".

The fundamentals of how the system works remains the same.

This is insanity. Reading this mysterio crapo, I am very much considering dumping back to BTC. maybe the Emunie people are not so fucking full of themselves. You sound like a moonie.

There was one guy who pointed out that you clearly have an agenda with the post (which you clearly do), then went on to say he had no problem with that. I think you over-reacted and came across like a hyperventilating dogecoiner. Appreciate the effort but 'ripping people to shreds' does not help the cause.

For this, CfB said something like "they can send their transactions to trusted nodes for immediate confirmations". Could it be, he talked about trust?

It the decentralization part a metaphor?

These special accounts do not represent centralization in any way (as far as I can see it). For these accounts, you've already paid the confirmation time in the past.

Yes - you have got it (people often confuse these things thinking that if they have a fast internet connection it will be fast *everywhere*).

That is *exactly* the problem - you might be able to fit thousands of txs into a block down the track - but they are still not confirmed until they are confirmed are they?

Alright.

So, as I understand it the 1000 TPS is just like the bandwidth of my Ethernet cable. And the 60 seconds for a block addresses the network latency.

Sure - I know where you are headed with the idea - but *still* we can end up with "forks in different countries" as I don't believe you can be sure to achieve what I have put in bold.

My point is human nature will not change....two facts...1) Humans are not perfect 2) "Evil" will always exist.

So even though we might think that whatever system we come up with is perfect against human nature we are surely deluding ourselves.

I think CfB mentioned regional block chains or something similar some day. Can't recall it correctly now.

So 1000 tps is not possible? Even if 1000 tps is possible, they wouldn't be confirmed, you would need to wait at least 1 minute to get the first confirmation?

I never expected it to be easy or inexpensive. Doing the "impossible" is usually difficult or expensive or both.

You said yourself that unless I was talking about an in-country solution I am just fantasizing. So, I went with that assumption, that networks incountry are fast pretty much worldwide. That makes sense.

This directly leads to a connected hub and spoke topology. Each country has its own hub and spoke topology and we connect all the country's hubs with a fast backbone.

If we can reduce the problem to creating a hub to hub fast backbone, I am sure out networking experts here can chime in with solutions, especially if we have some budget for it. I think it is more productive to identify the actual bottlenecks we are faced with, rather than glossing it over as fantasy due to network latency. Going from that dismissal to "we need a way to connect hubs across all the countries" seems like we have reduced the problem from the "impossible" category to "very difficult and probably expensive". Of course I was hoping we would get TF in April that will magically do the impossible without expensive and complicated solution.

In any case, we are actively talking about client side signing and submitting to public servers, so we are already headed to this sort of topology.

James

I have not heard anything about this but basically I think such "special" addresses would have to be under the control of a 3rd party (that the vendor will have to decide to "trust" not to attempt anything nefarious).

Just a reminder: BCNext don't want NXT to be a currency. Coins on top of Nxt should be. Does this change anything?

Well, 0.7.6 working without any trouble >24 hours. Forging is ok.
Can not understand what was wrong with 0.8.x

+1440

Enough with the wax on, wax off bullshit.

Note the "special" here - I am guessing this is probably something like the "green addresses" of Mt. Gox.

Basically you are once again trading "decentralisation" for "convenience" (I don't doubt the appeal though).

It is though a very *correct* way of looking at it - as a retailer you always have to "take a risk" about your shop security vs. convenience and "atmosphere" (no-one would be very comfortable with a shop that demanded to "strip search you" before leaving).

Remember even *cash* can be fake (something I know well about here as I have unfortunately ended up receiving a couple of fake notes over the years despite the fact I do normally check them).

Imagine that we have 10 min between blocks. We could move to 5 min and get 2x faster transactions without losing reliability (this doesn't work in Bitcoin). But we have 1 min between blocks and this is already very close to the limit where we have a high rate of forks. We can move to 10 sec and get 6x faster transactions but reliability will be 6x lower (network needs 1 minute to converge). If at some point in the future we get a "better" Internet, then we can move to 10 sec without losing reliability (doesn't work for PoW coins as I said).

Right now we could try to find the optimal time between blocks, but unfortunatelly this will be an optimum only for the current topology. 5 minutes later - and we will get another topology with another optimal interval.