[SavAct] Proof of Concept | Bitcointalksearch.org

SavAct

copper member

Activity: 21

Merit: 1

Quote from: hohuan101 on August 08, 2019, 11:28:52 AM

Looks like this is a good project for me to explore. Can you point out more information to me?

Thanks for your kind feedback. You can find our announcement with all linkings here: https://bitcointalksearch.org/topic/outdated-announcement-5172990
Please let us know if you have any open questions.

SavAct

copper member

Activity: 21

Merit: 1

Welcome to the BitcoinTalk forum WikLock.
That's pretty simplified, a detailed description of the mechanism can be found in the White Paper on page 6 chapter 2.1 "Warranty by time limitation". Of course, it is difficult to prove the concept of a system which doesn't exist already and your concerns of this special case are reasonable but when you read the full Proof of Concept (PoC) your doubts will be dispelled.
You can find the derivation of the calculations of the rate of punishments on page 4 to 6 of the PoC. The results are based on analyzing about 21 million real buyer ratings, including unjustified ratings, while the trustee systems (AmazonPay and PayPal) are included for a comparison of the resulting costs. Pages 1 to 4 explain in detail how these trustee systems can be compared to SavAct.
There are many logical reasons why the rate of punishments should be even lower, see for example page 10. We always considered the worst assumptions for SavAct in the calculations. Even then, SavAct saves a lot of money for the sellers.

WikLock

newbie

Activity: 1

Merit: 0

Basically you want to build a mechanism which allows the buyer to "kill" the transaction within a limited timeframe i.e. for no reason. Insted of refunds the coins are transferred to the "Savact system". First things that pop into my mind are the unpaid merchants which actually did their job correctly and wont get paid. You assume that this result wont happen quite often but there is no proof for that, is it? Insted of secure trading, this mechanism makes trading more unsecure und unreliable. And you proove that idea by comparing it with paypal and amazonpay, which is unrelated.

hohuan101

member

Activity: 341

Merit: 10

Looks like this is a good project for me to explore. Can you point out more information to me?

Have a good day!!

SavAct

copper member

Activity: 21

Merit: 1

SavAct is a cryptocurrency with several applications. This includes a financially binding voting system and preventing fraud attempts in online shops
which both are made possible by an integrated punishment mechanism.
Click here for more information.

We created a Proof of Concept to compare SavAct with already established trustee systems.
To be able to compare the various systems in numerical values, reference values were determined to create general cost factors.
Click here for the full PoC.

As many modern startups we are working in a Continual Improvement Process and are open to new ideas.
Feel free to mention your ideas for further proof of concepts. We are looking forward to your replies.

Topic: [SavAct] Proof of Concept (Read 153 times)