Topic: Obyte: Totally new consensus algorithm + private untraceable payments - page 123. (Read 1234271 times)

2000 GB sell wall    Bytball sinks to the new bottom.

Read last weeks Byteball email newsletter: Byteball as an ICO platform and Use-a-Thon entries

https://medium.com/@byteballjesus/weekly-byteball-email-newsletter-steem-use-a-thon-update-240429954f74

 

What is up with that giweaway, I remember maybe a year ago or even longer I saw this info that whoever installs byteball wallet will receive some free bytes. I did install a wallet then but completely forgot about it since now. ?

https://blog.goodaudience.com/byteball-main-net-under-stress-test-c131ba85b72b

sustainable transaction per second rate is 15 tps. After 17 tps any attempt to push 1 more post per second to the network has a larger negative impact over the whole network which slow downs more than 1 tps. At a load of 17 tps, the throughput is reduced to 13 tps. At 18 tps, the throughput is reduced to 10 tps. And so on.

I wouldnt trust cryptopia to even  tie my shoelaces, They have a tendency of dropping coins without warnings and ignoring devs when requests are sent to delist coins

Hello guys
What is the maximum TPS (transaction per sec) byteball has achieved..?

Thanks everybody.

I used cryptox and it worked fine.

I'm doing video interviews with them, you'll have the chance to know much more about them. You can also Google them once we make the announcement. Then it's up to you to trust them or not. If not then you can just keep 12x Tony.

Tony will only change the default witness list once a large enough % of the community had indicated that they want one of the witnesses be someone else than him, i.e. ~8% (seems logical) has taken the effort to flip the "default" switch and change the JEDxxx witness to a new candidate.

I don't understand your doublespend question, can you reword it or better explain what you mean?

A witness doesn't decide anything, it has no power over the community. In fact it's the other way around, it's up to the community to change their witness list. So if someone tries to sell their witness node + private keys then the community can just replace them with another witness.

Hope that by the end of the year Byteball will soon improve like last year, I am sure that investors are still optimistic about the future of Byteball so buying and holding is better and more profitable.

Prominent Steemian and Byteball Community member ctrl-alt-nwo on why Steemians should hang on to their Bytes. He even covers the "Russian thing" and does some public relations for Russia.

https://steemit.com/byteball/@ctrl-alt-nwo/byteball-reasons-why-it-s-a-good-crypto-and-why-steemians-should-hang-on-to-their-free-bytes

 

lmfao how big must your bags be to boycott byteball in ur sig?

are there any pumpers among them? Will they pay for bananca listing?

good news. As a member of community, what are my actions to verify the reputation of a potential witness? How do I know that a witness is really that person, and not just saying that he is he? How to check their wealth in the real world and reputation? Or tonych just change the list of default witnesses and most will accept them without even thinking?

Decentralized != n-centralized.

I already knew how byteball works. Very glad to hear those news.

Well, I believe that big companies won't want to harm their reputation. But I still haven't the security that it would be an expensive attack. Maybe the harm to their rep is too little that attack becames profitable.

Two more questions:
What happens if anyone post serially and then witness post on top (lets suppose they are colluding)? If serial units are doublespending, will this confirm the doublespend?

What will happen when a witness want to sell their right to be a witness?

What I acknowledge is, there is no true decentralization without burning energy. In this case, byteball is, by far away, the best of both worlds, I think.

I don't think you understand how witnesses work. Let me try once more:

Byteball needs witnesses to be able to prevent doublespends. A transaction is always referred to by someone else’s transaction. Most of them are referred to by transactions by unknown users. But some transactions are signed by known users. For example, big merchants, exchanges, or just reputable individuals or organizations.

If a user sees 2 conflicting transactions, the user validating them will look for the 2 transactions’ previously referenced transactions and check if some of those are created by known users. The transaction with most “witness” referenced transactions is “best” and the other is deemed invalid. We call these users “witnesses”, because they “witness” the reality for those who come after them.

A witness is just a regular, frequently posting full node, with one big difference: the identity of the person or organization running it is publicly known.

A witness ​witnesses​ transactions, they can not change them or otherwise influence them in any way. This means that a witness can not be held responsible for transactions it witnessed, they didn’t do anything to them but ​witness​ them taking place;

● This means that their reputation in the real world should ​not​ be negatively affected by bad actors on the Byteball platform but ​only​ if they, ​themselves​ misbehave by either:
○ Posting transactions out of order;
○ Not posting transactions at all;
○ Collude with other witnesses;
○ Doing anything that causes them to lose trust of the community.

There are 12 witnesses involved in every transaction. In exchange for the work involved, a witness collects part of the transaction fee (the payload fee). This list varies very little from transaction to transaction. There cannot be more than one change in the witnesses list. The witnesses majority (6+1) show the path to the “main chain”. A witness may even be down for an amount of time without it affecting the network. The security of the network would only be threatened if 6 witnesses colluded, which is theoretically possible but practically implausible.

So, we threw out miners and introduced witnesses. Doesn’t that make them a new privileged class? To some extent, but there is an important difference. While miners look at your transactions and ​decide ​if they like this transaction or not, a witness has ​no direct influence​. It’s Users that look for witnesses to determine the consensus order of transactions. ​Witnesses don’t decide anything about individual transactions.​ ​They ensure the integrity of the network simply by being there.

The platform was set up with 12 witnesses all being the founder, Anton Churyumoff (Tony). He is, of course, "a highly reputable user with a real-world identity", and totally trustworthy. Byteball is his baby, after all. But this couldn't get more centralized; unwelcome in a going-to-become decentralized system. So we need to diversify, to start trusting others willing to stand up publicly and put their reputation on the line.

So far I'm talking to more than 10 candidate witnesses, of which 4 are pretty much confirmed. We will present them to the community in the coming months. So yes, we are going to become decentralized. Step by step, but surely.

Byteball is not decentralized, and never will.

It created a new concept: a twelve-centralized coin. Actually, tony-centralized coin.

But hey, there will be big companies! Their reputation will make us sure that never will attack the system, even if it is blatantly profitable to them!

Get rid of governments to depend on big corporations... I dont think it would be a good idea...