Topic: [PRE-ANN] +++ HUB: +++ (Read 2412 times)

+++          Ring signatures?          +++

I gotta read up on that matter a little more, but that may well be the solution to the main problem we have here: How to prevent custodians from colluding to steal the funds. If you have a system in which no one can know who controls which key for which address and the possible combiantions are out of scope, you'd have a system which could work. A X-out-of-Y solution which doesn't need all keys makes the whole thing byzantine tolerant.

Yet still, one question, that remains, is: does a custodian know, which addresses they hold keys to? Is there a way to prevent that?

There are not tokens to sell. The whole point of HUB: is, that it is not another altcoin.

Just do an ico dude. Everyone does them. Id be interested in that one honestly.

No, currently, there are no devs actively working on this project.

I'd love to, but I neither have the money, nor the prospects of generating money with this project. I could probably form a company and try to find corporate investors, but I don't really want to go corporate. There are similar businesses out there I'd have to compete with and I prefer the "linux approach" anyway.


1.: I think there are multiple answers to this question, some of which still need to be found. My general answer would be this: while I like trading from time to time, it overall slows down mass adoption for two reasons:

The price of a coin changes, sometimes dramatically. Average Joe and Jane will not buy into something, that is so volatile, especially when they plan on using it for something else than speculation. I firmly believe that price stability is one of the key features a cryptocurrency needs to be mass adopted.
At the same time, I think it would be a waste to invent such a great thing as blockchain and have it just be a value storage tool. However, blockchains dedicated to one or a few special purposes have the problem, that their tokens are effectively tethered to their usefulness and while that sounds ok at first glance, this creates a whole bunch of problems.
Just imagine, how tiring it would be, if you would need different kinds of money for bread, electronic devices, gas (which already is volatile on its own), rent and so on, and worse than that, all these different currencies change their value all the time.
Bitcoin is the least volatile cryptocurrency we have, apart from Tether, obviously, and it is the most broadly used.
HUB: tries to create a system, in which people can use bitcoin to do all that fancy stuff, they would otherwise need a special token for.

The second reason is, that getting and using alternative currencies is a pain in the ass right now. First, you have to download a wallet, which needs to sync for ages. Then, you need to buy bitcoin, because you can't buy most currencies directly. Then you need to find out where to get them. And if, by then, you are not already fed up enough, every one of these coins has their own special rules you have to learn, to be able to actually use them.
In the HUB: network, the general rules don't change and you only need one client.

As a side effect, HUB: prevents "blockchain bloat", because it consists of many small chains, instead of one big one. Not only does that make syncing way faster (you just sync the parts you need), but you also don't need gigabytes of storage.

2.: I'm not sure I fully understand that question. It needs everything other blockchains need as well: It needs people who secure the circles. Custodians will be the equivalent to miners or stakers. It needs a client, it needs devs who are working on it… That kind of stuff. Or did I misunderstand it?

About the last part: the tethering is not artificial, because you will get back the exact amount of bitcoin the token holds, minus regular bitcoin transaction fees. Think of tokens as an envelope, containing the information on how to access these bitcoins. Now, creating a system in which this can be securely achieved without a too small number of regulating entities is HUB:s main obstacle.


No, this is not an Altcoin.
There is no "total supply", because tokens are created when needed. I think this thread contains sufficient information to answer questions about what this project is supposed to be (and what it isn't).

This altcoin or what?
I dont see how much total supply. Need more information. thanks

Questions from newbie to newbie, since this project idea seems to want to avoid the outcomes of most altcoins:

1. Less important: what existing crypto problems does this project want to solve?
2. More  important: what existing crypto needs does it have?

I know the price tethering seems to be the mainstay to maintain if not steer its price but this seems to then artificially keep the value of the coin/token.

Do you have any devs currently working on this project or are you actively looking for devs?

Don't hold your breath. I tried hard to convey, that at this point, all I write here is theoretical. I think the point where I would set up an ANN would be if I had a working version that is ready for beta testing.


Coins (or, more accurately: tokens) are created when needed by the users. Every token "contains" an amount of bitcoin. But, because it isn't bitcoin, you can do crazy stuff with it, like faster blocktimes, applying Ethereums codebase to it, and so on.


Thanks, that's a huge compliment. I'd love to get other people on board to at least discuss it theoretically.

i
If you actually read the full thread , there are no coins per say they would be created when they are basically needed , so there is no coins for translations,no coins for sig campaigns  and no air drops , its more like a tool to be used for cryptos than a currency! !

People need to actually read it and the idea is actually a great idea , a lot of work but something to think about..

Thanks for the thread probly one of the most worth while thread to read and create discussion  and thought  about in like well this year just about!!

you say your coin not mining
not ico selling, not bounty not signature campaign
not open all about free coin giveaway

so how your distibution coin, or 100% coin control in dev

Still waiting on the full announcement. When will that be ready?

HUB:
+++          A Safe Exchange?          +++

This is just a realization I had about all this: as stated earlier, if HUB: works, it can be applied to just about any cryptocurrency, that allows multisig addresses. While mixing currencies sounds like a bad idea in general, this means on the other hand, that if you'd create an exchange, which uses HUB: instead of cold wallets, you could use HUB: tokens and the exchange itself wouldn't hold any funds.

The exchange would still be kinda centralized, since you'd want extremely fast transaction times, which would mean that a single-but-trusted-custodian approach would be preferable here. This custodian, however, would not be responsible for the creation of tokens, only for the transactions with them.

Thus, attacking the exchange would lead to almost nothing. An attacker could still mess up the way tokens are exchanged, since you’d probably have one or a few custodians doing transaction validations, but you may be able to implement a "kill-switch", meaning, a bunch of custodians on standby, who can shut down transactions in case of emergency.

This is just a rough sketch of the idea, though.

Well, I tried to describe the main idea in a few sentences. Maybe it’s getting drowned in all the text.

I'm writing pretty much anything I come up with which has to do with this project in here. so yeah, it is a lot of text. It has to be, since there are a lot of questions that require complex answers.


That would be the best that could happen

I agree, it's not a bad thing. It's always good to discuss ideas and see how that can be implemented. It could attract some good developers and may have an interesting project.

@OP you sure do like to type, which is actually a good thing! Effort is attractive  

I wish you all the best with your search, it does sound good to say the least!


Well atleast he's trying and enthusiastic with his ideas...

Yeah, pure idea discussion. I'm not a "dev", at least not in the strict sense. Apart from that, you are right

looks like an idea discussion here? the "dev" is still learning C++/python, it will take years for hi to be a proficient programmer and be able to implement these. Lol, time to sit back and relax

No, I myself won't be able to deliver, at least not in the near future. This is more of a thread do dream aloud for me

The best case scenario would be to get someone interested who is able to do it.

As someone who has some connections and experience in the design space, I know how annoying requests like "how about you work for free, this will make you famous!" or "you'll get a percentage of the earnings, together we can make money out of this, once you've built it!" are, I guess, programmers get to hear stuff like that, as well.

That's why I won't run around and ask people to help me (since I can't pay them). At the same time, I just don't want to write my ideas down and not show them to anybody.



When I've found people who are willing to help me actually build it (not that likely), or when I've learned enough C++/Python to build it myself (even more unlikely ).

When is the ann coming?

Wow that's a lot of stuff to read seems interesting but you'll be able to deliver?