Topic: Slimcoin | First Proof of Burn currency | Decentralized Web - page 97. (Read 137076 times)

Well the questions are addressed to anyone who can answer them.

I had assumed you were the primary developer, since you have created commits to the slimcoin-project.

Both sources seem to be "the C++ source", so I'm confused.

Does slimcoin-project not have proof-of-burn, while slimcoin does?

You're examining the C++source. To whom are the questions addressed?

Cheers

Graham

Difficulty went down to normal level

There's no -one  listening, just serried ranks of machines, endlessly and tirelessly mechanically sifting probabilities for their owners' benefit.

Cheers

Graham

Sure, that one's easy for me. I'm not a software developer.


I provided a link: https://github.com/slimcoin/slimcoin/commit/88237916bf8452b182b8e1c942b9a14e26ee1415

Implemented Basic PoB
 master  v0.3.2.0
1 parent 33e1e34 commit 88237916bf8452b182b8e1c942b9a14e26ee1415  John Smith committed on 17 Feb 2014


Cheers

Graham

I urgently appealed to the guy/guys, who are staking - stop it. You are hurting network with this nonsense. At least stop until there is some solution to this problem.
I can send a few SLM, if you are so in need, ok? Just stop this nonsense, because nodes, and nethash are going down, with these spam attacks of POS blocks on blockchain.
Balance must be - max 10% blocks should be POS, and normally lower. For now it's 75-85%, it's too much.
If I was this big holder, I would stop this nonsense immediently, because I would see that i'm disturbing power to wrong hands, but as I see greed, is worser enemy here.
At least we can have some dumping on exchange, with healthy correction.

If that won't work - we should figure out, which node is doing this and block him, until solution is found.

Is proof of stake needed when you have POB and POW?

I'm looking over the block creation code (https://github.com/slimcoin/slimcoin/blob/afd8ef7e18e17f876f0bc7b44e79ee867f0b3ac1/src/main.cpp#L4931) and I'm wondering:

What is stopping miners from changing the block decay to a constant? What is stopping them from replacing that whole statement with something that makes nEffectiveBurnCoins an absurdly high number?

Likewise what is stopping miners from exceeding MAX_MINT_PROOF_OF_BURN? I see no other checks in the codebase (for receiving a block that exceeds this or verifies it). Could you point me to where it does, or how?

Clever using torrents to store data like that. Very similar to how ColoredCoin's meta data is distributed.

Overall I have to say I'm very frickin' impressed with Slimcoin. How do I get in on this? I'm currently looking at the code to understand how proof-of-burn technically works so I can write about it and annotate it for others.

It makes me wonder, perhaps we (the cryptocurrency community) should be focused on modular proof-of-* systems, so they can be easily swapped, mixed and matched.

I had this idea the other day for a dynamic proof-of-work, where actual algorithm parameters change so ASIC production is literally impossible. Perhaps a list of hashing algorithms where the order of execution can change as well as their parameters. These are then stored on the blockchain as well to verify things later.

http://slimco.in/about/

What is Web2Web, and is it actually released or any source available?

3. I would add currently developed and introducing in future Web2Web, apart one project (which doesnt have the same technology and I think different usage) I didnt see it anywhere in crypto world, and I think I'm quite well acknowledge, so far.
5. Gjhiggins, as you can see with his commits also contributed to Peercoin, as far as I have seen on his github profile.

Well you can answer point 5 if you want....

How come you linked to a different repository, and not the original one in the topic?

A quick search doesn't have the PoB commit appear in the original repository (literally just searched for the commit title).

Thank you very much! Super appreciate it.

The first commit is https://github.com/slimcoin/slimcoin/commit/c65e2ac7dcfd9b319de8971e3a582569ee0f9436


I'll hazard a guess that it's the one with the commit message: “Implemented Basic PoB”?


Er, proof of burn?


You will need to address these questions to the original developer: https://github.com/slimcoin

Cheers

Graham

Hello Slimcoin developer,

It is time to investigate your coin. This is the second time I investigate a coin early in its birth. It would be very appreciated if you could take the time to answer these questions:

1. What is the first commit of Slimcoin? I think it's https://github.com/slimcoin-project/Slimcoin/commit/7c453189b87d717a4d0e943c3e283719e0074f0c but I can be wrong.
2. Where is the commit you have implemented or started to implement proof-of-burn?
3. What innovation does Slimcoin bring to the table?
4. How come you've chosen to build Slimcoin on Peercoin, rather than implement it from the ground up?
5. Why not contribute to Peercoin? (Which, IMO, is a very strong and solid project.)

Thank you very much, and I will post back when I'm done my research.

No mechanical problem, just people abandoning the network.

Cheers

Graham

Proof of Burn it is antagonist of Proof of Stake, correct? 1st case deflation via burning coins, 2nd case - inflation with new coins... Do you have any statistics how burning of coins reflects on market rate?

@muf18: I agree that there should be a continuous improvement of the algorithm. So I would principally not opposed to hard forks, only that they must have ample support in the community. For me, for example, the 10% staking reward is a bit high - I would reduce it to 3% or 4% but distribute it only to nodes that are online for a longer time, like @dzarmush proposed.

The only problem is to find a suitable algorithm (see below), because the solution to that problem is not trivial (how do you check collectively which nodes are online without cluttering the blockchain?). Until now, I only knew about Timekoin (one of the first altcoins, but it used a completely different algo that was not easily portable to Slim) and the theoretic concept of "Proof of Activity" that I think has never been implemented in a real coin.


Thanks. Lisk, as far as I know, is a DPOS coin where only "delegates" (that must be voted) get Proof of Stake rewards. They must be online, but the DPOS algorithm type is flawed for me (it is open to social engineering attacks because the validator list is limited) and it should be very, very difficult to port it to a bitcoin-based currency like Slim.

But Particl could be interesting as a model to follow because it seems to be built on the Bitcoin code, so it could be implemented more easily. I didn't know it until now, so I'll investigate it.

Particl and Lisk, I think, have yearly inflation that goes to nodes that stay online. I thought Nxt is also the same, but now I remember it's not.

There are enough nodes to validate transactions, without POW miners on this point of development, because there isn't any real transfer of coins yet, there is some real power behind network. POW miners must have some inncentive to mine - when you have quite powerful computers and you mine like below 50 cents (even tho I believe in Slimcoin and that the value will be higher in future), I cant agree to such terms, because it's a waste of electricity for me.

And to other will be too. 1/3 of the network disconnected, because of this event today, and until it will be fixed - they wont connected as a full node with POW or POB mining again.

Ofcourse it will weaken security of network - but with events like this I think more dangerous is POS minter/s who is/are attacking network with their spam validating blocks, which shouldnt be validated imo. It's much more dangerous, because there can be fork/chain split and again network can be in really bad shape.

I think I have done quite some work to propagate and distribute knowledge about this fantastic project - but still I'm not blind to see some failures/drawbacks, and what we have to do to make it better.
Hard fork is ok, if we must correct some base drawbacks and fragile errors in the projects, that can be dangerous for the network of Slimcoin, because can be used against it, even tho it wasnt designed to do so (to be against network - but this 'feature' is actually against it).

It actually makes every big holder almost a manipulator of network, when he wants to mint some coins once a year.