Topic: Obyte: Totally new consensus algorithm + private untraceable payments - page 1118. (Read 1233958 times)

Test coins are, of course, only used for testing. You may continue testing all you want, but they are not valid on the mainnet.

Stop.

Just realised.

You don't have miners! (as you say a few lines up..). This DAG paradigm is a little different..

So only you and the person you send it to care!

So.. The only validator of a txn, is the person you send it to, and the future txns that it will be a parent of (as the proof) ?

hmm..

(still digesting..)

whether the existing balance in the wallet test will be in use later her after the official ?

Hello!

..ok.. I'll try and run through my current understanding and you correct me.. 

( The basic point is : When the txn is checked by the network, how does a hidden input make a spend, if it's hidden ?

Alice wants to send Bob 10 bytes.

Alice has 1 10 output available. (That could be hidden)

Normal way :

Alice creates a txn that has her 10 input and a 10 output to Bob.
Alice sends txn to network.
The network knows that Alice has spent 10 and creates a spendable output of 10 for Bob.
Bob now has a valid 10 output that he can spend on the network.

Byteball way :

Alice creates a txn that has her 10(could be hidden) input and a 10 output to Bob.
Alice generates a random number, that she will need to share with Bob, along with ALL the previous proofs in the chain(if her 10 is hidden), to decode the spend proofs.

(And here it's a little murky..)

Alice 'hashes-the-txn' with the random number. (There are a few steps here..)
(This keeps the spend address visible for the network to check, but hides the rest.?)

Alice sends the txn to the network and the spend proof to Bob. Who can then check for himself that the txn is what Alice says it is. And that all the parents are also valid.

The network knows that Alice has spent the 10(or hidden value). but doesn't know to who or for how much.

The network doesn't know that Bob has a spendable output. So how does Bob then make a spend ? I know he knows, and he can prove the the next person, but the network won't have a record - so ..?

What am I missing..

I have checked your wallet,really quite flexible and powerful ,waiting for new update.
By the way can you tell me how to attach btc address with byteball android wallet?
Best of luck for your project

Hi spartacusrex, I'm glad to see the start of technical discussion in this thread!


It is really a lot.  And I tried to leave no questions unanswered (but apparently it's impossible).


That's what spend proofs are for.  Spend proof is a hash over the output being spent, hence if you try to spend the same output again, the spend proof will be necessarily the same, and the validators (there are no miners here) will notice that immediately.

49 Pages!

.. And, if I may, I'm glad you think 'Simplicity is Beauty' or you might have tried to cram too much in.. 

It really does a lot. Congrats! (Particularly like the 'Leave' vote.)

Can we chat about your private payment scheme.. ?


I can see how to hide the amounts, using the blinding factor, but if you hide the output addresses as well, how do the miners prevent a double spend ?

Or how does a user know that the output has not been spent already in another hidden txn ?

Or am I misunderstanding and the outputs are not hashed, just the amounts ?

You can keep it but testnet coin is worthless by definition.

Like I did before for the previous 22 months, plus I allocate 1% for myself.

Since there will be no ICO, how do you plan to fund this project in short term and long term?

sounds good dev! if i understood correctly we will not loose the testnet coin?

I'm glad you like the wallet
The only bounty we have is free bytes on testnet.

i am testing the wallet and seems to be very good! Did not take long time to sync! do you have any bounties for earlier testnet wallet dev?

New release v0.2: https://github.com/byteball/byteball/releases

After running for 3 days, a few insignificant bugs were found, most are fixed in the new release, some require more information.

Please upgrade by the above link (Android will update automatically), report any issues you encounter.

Early November, subject to change.

In this anonymous world, I can't say who is an exchange and who is not, and can't stop exchanges from using their customers' funds for themselves.

If however any exchanges are willing to link their bitcoin addresses and receive bytes for their customers (not for themselves), they are most welcome.

Interesting. Is there any tentative launch date?

One so far.

Try this https://github.com/byteball/byteball/releases/download/v0.1.1/Byteball-test-win32.exe.
Please let me know if it worked because I don't have access to a win32 machine to test.

Wallet seed is not enough because private assets, such as blackbytes, are stored only in the wallet (exactly because they are private) and get updated every time you send or receive a private asset.

To secure against loss of the wallet, I recommend that you use multisig.  For example, 1-of-2 multisig with one wallet on the phone, the other on a desktop computer.  This way, the private assets will be automatically copied to the two devices.