Topic: [PRE-ANN] Ergo Platform is coming, the AAA class of blockchains - page 5. (Read 33840 times)

I think to start uncovering Ergo details here.

It will be ~100 million Ergs, and emission will be done in just 10 years. Each Erg is consisting of 1 billion smallest units called nanoErgs.

What will replace emission? How miners will survive? Here we solve few problems with one shot. Namely, we use demurrage to stabilize miners income, and also to have dust cleaning procedure, reduce blockchain bloat, and return lost coins into circulation.

How demurrage is implemented? If a coin is not being touched for 4 years, anyone (presumably, a miner) may spend the coin, but it is needed to recreate the coin with all the fields to be the same but monetary value which is to be reduced by "storageFee" max. Storage fee is defined by coin size in bytes, and pricing factor (cost to store 1 byte for 4 years). The pricing factor default value is 1,250,000 nanoErgs/byte, and the factor could be readjusted via miners voting withing the range (0; 2,500,000), thus miners can potentially switch off demurrage by setting the coefficient to 0.

Also, to avoid creation of coins not profitable to spend, there is another parameter in the system, minimum value per byte of a coin. Default value for this parameter is 360 nanoErgs/byte, and possible range is (0, 10000).

Some simulations for default values:

Storage fee factor: 1250000
Output size: 107 B
Simple tx size: 350 B
Block size: 512000 B
Storage fee for ordinary output: 0.13375 Erg
Min dust value of standard-size box: 38520 nanoErgs
=====================
Assume that Ergo state has the same number of outputs (60000000), as in Bitcoin.
Reward per block: 7.63 Erg + tx fees

 
(please note block size adjustable by miners as well)

https://twitter.com/ergoplatformorg/status/1078698824921686017

1.9.0 is ready, but we postponed the release to avoid stressful holidays. Also, there is some good rework in progress towards block extension section.
A block in Ergo is consisting of few parts: header, transactions, proofs of state transformations (for non-mining fullnode willing to avoid storing the state), and also extension with additional data. It will contain current system parameters (in the first block of an epoch), interlink vector(for PoPoW), and from now, via softfork it will be possible to add more standardized data there, with non-updated node skipping validation.

So 1.9.0 will be released right after New Year.

A next step is to finalize elliptic curve being used, after that 2.0.0 will be released immediately. No much coding work here, only research.

UTXO snapshot downloading (alternative to "warp" or "fast" mode in Parity/Geth clients of Ethereum) is also done and will be released as 1.9.1 of 2.0.1.


And now we would like to get in touch with GPU mining software developers! Please spread the word about that!

Ergo Platform Testnet 1.8.1 released: Updated algorithm for block candidate creation from mempool transactions and wallet fixes. Off to 1.9 with changing system parameters through voting.

https://twitter.com/ergoplatformorg/status/1075810464095977472

https://github.com/ergoplatform/ergo/releases/tag/v1.8.1

First Ergo Platform meetup in Hong Kong with Dmitry Meshkov: from prototypes to survivable cryptocurrency on Jan 8, 2019. This event is free. Big thank you to Genesis Block HK

https://twitter.com/ergoplatformorg/status/1074953516953886720

https://www.meetup.com/ru-RU/genesisblockhk/events/257300607/

https://twitter.com/ergoplatformorg/status/1074705164819402754

Voting system is under review https://github.com/ergoplatform/ergo/pull/540. This is about testnet 1.9.0 and the last big change before testnet 2.0 (which will be different from 1.9 in transactional language interpreter update, which is already mostly done, and also review of cryptographic primitives used).

We also have changes for 1.8.1, will be out in next few days.

Our Autolykos: New, practical, non-outsourceable and memory-hard PoW protocol was accepted and will be presented at "2019 International Blockchain Technology Conference (IBTC 2019)" Engii in China.

https://twitter.com/ergoplatformorg/status/1072790805901905920

Introduction to Ergo Platform by Dmitry Meshkov is now available. Basic info about vision, decentralization, survivability, applicability and roadmap included. More info to come.

https://twitter.com/ergoplatformorg/status/1072807940506173440

Another Testnet, a new player getting ready when the game is over. 
Hope success

Ergo Platform Testnet 1.8 released. Autolykos: New, practical, non-outsourceable and memory-hard PoW protocol included. Off to 1.9 with changing system parameters through voting.

https://github.com/ergoplatform/ergo/releases/tag/v1.8.0

https://twitter.com/ergoplatformorg/status/1070753090977054722

https://twitter.com/ergoplatformorg/status/1068622203829329920

PoW code is still under review, current plan is to release 1.8  with PoW around Tue.

Voting System is getting soft-fork voting and activation rules, maybe 1.9 with it will be out next Fri.

2.0 testnet realease ETA is clear? Going to support your network with some ETH GPU rigs

Interesting, imo you need more than a brief teaser to describe Ergo 
[/quote]

You are very right! We have a new PoW scheme (first non-outsourceable ever?), a very new approach to contracts,  system parameters readjusting, and a new kind of economy!

Purely technical improvements lead to a lot of conceptual, even more, philosophical breakthroughs. A lot of efforts are needed to deliver the technicalities and the vision. 

https://twitter.com/ergoplatformorg/status/1066257802698600448

Interesting, imo you need more than a brief teaser to describe Ergo 

Both voting system and PoW are under review. PoW scheme has been slightly improved (simplified).

We are also willing to deliver new script cost estimating procedure and finalized curve points serialization in 2.0. Thus a next release will be 1.8 with voting system, or Pow, or both, whatever comes first.
I think the next week a release will come.

2.0 will be about minor changes then, and ready to start client-side libraries and wallet developments.

We are also starting to describe what is really done in Ergo (a brief teaser).

Vasily Kharin from Research Institute, presented Autolykos: Practical, non-outsourceable PoW protocol, joint work with Alexander Chepurnoy and  Dmitry Meshkov which is coming to Ergo Platform

https://twitter.com/ergoplatformorg/status/1063780846220517376

https://twitter.com/ergoplatformorg/status/1063504147616550914

Voting system conceptually done, now it is possible to set desirable target parameters, and then a mining software will automatically propose a vote for increasing or decreasing (gradually) in the beginning of a voting epoch, or vote if a desired change proposed by another miner in the epoch. It is possible to change 2 parameters per voting epoch + also vote for soft-fork (over many voting epochs). A step for some parameters is set, for others 1% of current value.   

A simple example, if voting epoch is just about 4 blocks.

Initial values:


And then, at height 348.



PoW scheme and code are under review.

We're discussing what constitutes Testnet 2.0 as we announced that it will be almost the same as the mainnet. A decision on a next release will be given in coming days.