Pages:
Author

Topic: [PRE-ANN][ZEN][Pre-sale] Zennet: Decentralized Supercomputer - Official Thread - page 7. (Read 57056 times)

member
Activity: 319
Merit: 10
From what I understand, and the reason I mentioned it here, is that tendermint confirmations times are limited only by the bandwidth of the network, for example, with about 10,000 validators = about  1min confirmations times and also unlike dpos doesn't rely on having trust in the 101 delegates.

"On the other hand existing proof-of-stake protocols do
not have a well defined intrinsic penalty for instigators of a double-spend attack.
This is commonly called, ironically, the “nothing at stake” problem. Newer protocols
like the BitShares delegated-proof-of-stake protocol attempt to address this problem
by placing the role of ranked-delegate at stake [3], but security is dependant on
the extrinsic ability of stakeholders to accurately predict the future performance of
delegates."


Reference on confirmation time about 19:00 mark
http://letstalkbitcoin.com/blog/post/beyond-bitcoin-21-consensus-without-mining

Directly from the developer:
Hi Keith, the conf time depends on the available bandwidth of each node and the number of validators. With say a 10Mbit connection for everyone and 5000 validators it should get sub minute confirmations.
member
Activity: 319
Merit: 10
From what I understand, and the reason I mentioned it here, is that tendermint confirmations times are limited only by the bandwidth of the network, for example, with about 10,000 validators = about  1min confirmations times and also unlike dpos doesn't rely on having trust in the 101 delegates.

"On the other hand existing proof-of-stake protocols do
not have a well defined intrinsic penalty for instigators of a double-spend attack.
This is commonly called, ironically, the “nothing at stake” problem. Newer protocols
like the BitShares delegated-proof-of-stake protocol attempt to address this problem
by placing the role of ranked-delegate at stake [3], but security is dependant on
the extrinsic ability of stakeholders to accurately predict the future performance of
delegates."


Reference on confirmation time about 19:00 mark
http://letstalkbitcoin.com/blog/post/beyond-bitcoin-21-consensus-without-mining
legendary
Activity: 2716
Merit: 1094
Black Belt Developer
what I don't like about tendermint:

"If the validator causes the blockchain to fork while its coins are locked in bond, all of its coins are destroyed."

so if the developers make some mistakes, or I have some network problems or whatever and it forks, I loose the coins. Wow!

I didnt like it (yet?), but I think this specific issue you raise is fine: only a validator loses its own bond when they fail to function whatsoever.

even if it's not their fault... that's what I don't like :-)
getting into a fork can be very easy with PoS: with a poor connection and some stake you can easily generate orphans and get them accepted by your neighbours.
hero member
Activity: 897
Merit: 1000
http://idni.org
what I don't like about tendermint:

"If the validator causes the blockchain to fork while its coins are locked in bond, all of its coins are destroyed."

so if the developers make some mistakes, or I have some network problems or whatever and it forks, I loose the coins. Wow!

I didnt like it (yet?), but I think this specific issue you raise is fine: only a validator loses its own bond when they fail to function whatsoever.
legendary
Activity: 2716
Merit: 1094
Black Belt Developer
what I don't like about tendermint:

"If the validator causes the blockchain to fork while its coins are locked in bond, all of its coins are destroyed."

so if the developers make some mistakes, or I have some network problems or whatever and it forks, I loose the coins. Wow!
hero member
Activity: 897
Merit: 1000
http://idni.org
you will definitely notice when the sale begins Smiley

There is a new Proof of Stake kid on the block called Tendermint. Tendermint.com to read the whitepaper.

I foresee no problems with losing coins in that scheme.

besides that, what problems do you foresee and how do you suggest overcoming them?
using bitcoin isn't an option unless you can make it work faster.
we can also discuss anything on the irc channel #zennet @freenode.
legendary
Activity: 3836
Merit: 4969
Doomed to see the future and unable to prevent it
you will definitely notice when the sale begins Smiley

There is a new Proof of Stake kid on the block called Tendermint. Tendermint.com to read the whitepaper.

I foresee no problems with losing coins in that scheme.
member
Activity: 319
Merit: 10
you will definitely notice when the sale begins Smiley

There is a new Proof of Stake kid on the block called Tendermint. Tendermint.com to read the whitepaper.
hero member
Activity: 897
Merit: 1000
http://idni.org
you will definitely notice when the sale begins Smiley
legendary
Activity: 1176
Merit: 1000
it seems like new technology
interested..
sr. member
Activity: 483
Merit: 250
How can I buy this gems?
legendary
Activity: 1036
Merit: 1000
I dont undestand when the IPO start?
hero member
Activity: 500
Merit: 507
Some people will object (for various reasons), some will try to minimize or even ridicule, but all of them will eat their hat once this system is up and running. The possible benefits of a centralized system are smaller than those found in a decentralized one that works well, and as stated before, the zennet system will not compete in all aspects of the old systems already running, but will offer a great alternative to many of them.
hero member
Activity: 897
Merit: 1000
http://idni.org
blah blah
let's see this working and then we'll compare it to "legacy" systems.

ahh those jealous guys.. you tried to design such a system and failed?
EDIT: i thought you talked about zennet rather ItsNotMe. apologies

haha no I just wanted that sterile discussion to end :-)

it was a good discussion until ItsNotMe got out of answers.. either he doesnt like decentralization, or crowd funding, or zennet, or myself.
PS i edited the comment for you above..
full member
Activity: 238
Merit: 100
service, marketability, market presence...ect.

can you pinpoint something? from what you say generally, there is no justification at all for decentralized systems.

I pinpointed three for you...

Service to users.
Tech support of the of the product.
Making potential users aware of the product.

companies can give services over decentralized systems and charge their clients.
the product is open source, and a the money is used to develop and support the product. like in the open source world, you know.
being aware is a bit more easy: each PC holder getting free money wouldn't stay a secret for long.

Quote
These are huge needs to a system you are proposing. A decentralized system does not work better in this use case.

poinpoint. why decentralized system won't work better on this use case?
it's also needed to say zennet is not 100% equivalent to aws, each have their own pros and cons.

I did...you are trolling your own forum. Have fun.
legendary
Activity: 2716
Merit: 1094
Black Belt Developer
blah blah
let's see this working and then we'll compare it to "legacy" systems.

ahh those jealous guys.. you tried to design such a system and failed?

haha no I just wanted that sterile discussion to end :-)
hero member
Activity: 897
Merit: 1000
http://idni.org
service, marketability, market presence...ect.

can you pinpoint something? from what you say generally, there is no justification at all for decentralized systems.

I pinpointed three for you...

Service to users.
Tech support of the of the product.
Making potential users aware of the product.

companies can give services over decentralized systems and charge their clients.
the product is open source, and a the money is used to develop and support the product. like in the open source world, you know.
being aware is a bit more easy: each PC holder getting free money wouldn't stay a secret for long.

Quote
These are huge needs to a system you are proposing. A decentralized system does not work better in this use case.

poinpoint. why decentralized system won't work better on this use case?
it's also needed to say zennet is not 100% equivalent to aws, each have their own pros and cons.
full member
Activity: 238
Merit: 100
service, marketability, market presence...ect.

can you pinpoint something? from what you say generally, there is no justification at all for decentralized systems.

I pinpointed three for you...

Service to users.
Tech support of the of the product.
Making potential users aware of the product.

These are huge needs to a system you are proposing. A decentralized system does not work better in this use case.
hero member
Activity: 897
Merit: 1000
http://idni.org
blah blah
let's see this working and then we'll compare it to "legacy" systems.

ahh those jealous guys.. you tried to design such a system and failed?
EDIT: i thought you talked about zennet rather ItsNotMe. apologies
hero member
Activity: 897
Merit: 1000
http://idni.org
service, marketability, market presence...ect.

can you pinpoint something? from what you say generally, there is no justification at all for decentralized systems.
Pages:
Jump to: