Topic: TAUCoin “Proof of Transaction” - features debate and bounty for 12 months - page 10. (Read 26502 times)

Violin8, Thanks for the ERC223 feedback, we will looking into this idea.
Jmlimaa, Thanks for the PT-BR whitepaper, please claim working TAU reward from your wallet.
Cryptoadictchie, would you explain in more detail. After TAUT locked, how to circulate them? Maybe i am missing some things here.

White Paper Pt-br
#VaiBrasil
https://drive.google.com/open?id=1y5FIpCzGBP4vflzTH-raZugO0VwDYp2lCq3wj6d7Ipw

I can see how the Founder wants to make the project expand. Taucoin has already ways of gaining social activity and this move expanding it through additional platform could be gone wrong if the plan was too shabby.  I understand what you want to happen and will support you if deemed profound necessary to do this. By the way, I'm not getting the part of the locked up 100million native Tau, and will mint 100million erc-20 tokens.

How do you plan to distribute those 100million erc-20 tokens,  through sales? or giveaway? You said that TauX will support the swap of TAUT tokens to TAU native coins, and the purpose of the TAUT tokens are to disseminate it through other investors right by third party exchanges since erc-20 platform is smooth for every projects out there,  So probably these 100millions erc-20 tokens will be for sale or private acquisition?  and not for giveaway. Cause if yes, The community will rather collect the taucoin native coins if only the purpose of TAUT is for exchanhing this to native coins.


Also, how does the swapping will put into ratio on TAU X? Is it 1:1  based price? cause 100millions coins for locked and 100 millions tokens for issuance right? But if you will think of it, if TAUT will be traded on other exchanges let's say Forkdelta, IDEX, or any dex or centralized exchange the price would be depend on the traders. So example, I have 5k tokens of TAUT if its 1:1 ratio with TAU, I'll have 5k coins of TAU, right? Let's just say on October 18, when the TauX already operating and it come up with a price of 0.1$ ( This is hypothetical). Then my 5k tokens would be 500$ right. But what if I purchase the 5k TAUT on DEX for only 0.01$  then if swapping it to TAU on TAUX I will have 5k? I appreciate if you would response with this. Kinda confuse.

Thanks very much to the whole TAU team to have revolutionized the  Blockchain by coming up with the new algorith, POT. But I want to have something to say about the token standard of which TAUT may be issued, i.e ERC20.

ERC-20 token standars is not perfect.There are some issues that the ERC-20 token standards do not address.

There are situations that tokens might be unintentionally destroyed when they are used for payment and the like.

To fix this bug, the Ethereum community is currently working on a new standard named ERC223. These standards are not compatible with ERC-20, my fear is that, if TAU dev habe created ERC20 TAUT to be utiled by therd party exchanges, they will again need to create another sets of TAUTs when the ERC223 compilement is done, simply because the these to request are not compartible. And if ERC20, the token standard of which TAU team want to use on issuing TAUT, seem imperfect, don't you thin are welcome potential attack windows?

In April 2018, a number of exchanges suspended token deposits and withdrawals of Ethereum-based tokens due to the bachOverflow bug. It is described as a ‘classic integer overflow issue’ and might potentially allow an attacker to ‘possess a huge amount of tokens’. How TAU team become confident to use the imperfect  ERC20 token standard? Because, it was noted, that there’s no traditional security approach to fix these vulnerabilities at the moment.

As the solution, the tau dev/team should address TAUT to ERC223 token Standard which was specially developed to solve issues of the ERC20 token standard.e

The most technically advanced developers who understand the problem, already use the new token standard. For example, Bittrex exchange has restandardized its deposit contracts to be ERC223 compliant, which seem to work best.

Discuss open TAU user base to community app developers.
Today we are hitting 33k wallets and lucky to have an increasing community. Foundation loves to give innovative app developers open access to serve our members. If developer could build a web app or game using TAU as internal payment, we will list it in our web wallet under “app store”. All of users holding some basic TAU to use the app. We are creating a app bounty to be announced.

We do not have a setup plan for distributing ERC-20 TAUT at this moment. A few potential ways such as using TAUX to swap out, deposit into some third party exchange for sales, or put into airdrop faucet, all could be discussed, we are interested in knowing your suggestions.
On TAUX exchange, technically no one can garantee it is 1:1. All members drive it. This is interesting part. This will create hedging business in TAU ecosystem among different trading world. I hope market can correct price once there is arbitage possibility.

How TAU foundation support TAU price through TAU-X.
Many people ask foundation’s plan to resist dumping TAUcoins on TAU-X. Be design, TAU-X is an efficient, free and open tool to trade massive amount of TAU and contain every thing in one swap, same as our spirit to using epoch to contain 51% power censorship attack. TAU-X will magicly support both efficient trading and also risk containment. Every swap is like a new birth,  even one want to dump 10 billion TAU, it is supported there and settled instantly.
Given all this, TAU foundation did not choose to avoid risk, but create a technology platform to faciliate all speculative actions, because we believe both punishment or award need to be supported in the same efficient way rather than put infliction on one side.
In my view, the most efficient and executable way to support TAU price is not by manipulate financial strategy or news, but by following ways:
1. Remove infliction on trading through TAU-X and TAU-ERC20 stable coin supportting all third party
2. Work out the 12 months plan and realize a fast, fair and secure crypto technology
3. Incentivate app and game developers to build apps using TAU as internal payment and allow them to access massive TAU holders.
Doing above things require time and effort, the result of executing above are always up and down. Therefore, price fluctuation on TAU is expected.
The macro crypto market is always there to affact us. But my view of crypto market is that more and more weight put on crypto currency asset than others, since many citizens from developing countries does not have a “real” non-inflation currency. The demand for a solid currency is essential and imminent. TAU website traffic flow reflects 70% of the viewers are from developing world. So the battle is not whether crypto currency is needed, but what crypto technology is the best. To becoming best crypto technology and network is how TAU foundation and I to support TAU price on TAU-X.

That is not how it works. Mining a block is based on the number of transactions carried out by members in a pool over a given time, so the only arms race is making legitimate transactions.

Thank you for the clarification at @imorpheus!

Is it the total transaction fees of all the transactions the user has made in the past that will determine the weight of the user's mining power?

Some clarification: neither mining club leader and users need to stay on line to get reward, requisite of stay online is viewed as permission based. Merely increase transaction numbers will not help,since it is the transaction fee to be counted as weight on your mining power.
For mobile mining, in fact original NXT algo can support mobile mining as well since it is low computing power no matter how many computers you own. TAU is similar in this kind. More devices will not change the arrangement structure on-chain, it is the crypto process to find right generator, so that there is no beat from a big phone over small.
Automatic swap between TAU to BTC is an effective way to distribute to more people and avoid TAU to fiat exchange. This is not a fund raising strategy, since foundation only sell 60,000 tau per swap, community members shall exchange a lot of more than foundation. TAU-X will not charge transaction fee on these swap either. This swap is an innovation for distribution and community service.
I do not believe any one include foundation and me can predict the price of TAU. The price of TAU is collectively decided by whole user base to value the consensus value of the community. To best increase value of TAU, the foundation and community shall just focus on make every feature of our plan work, and achieve true “fast, fair and secure”.

Here, i love to raise a question: how to incorporate BFT verification into TAU? I am not clear how to do that, or it is not possible.

I love the idea of using PoT as it has its advantage over bitcoin and other cryptocurrencies. One of the things that I like about PoT is that it enhances the network topology and facilitates the coin circulation. Firstly, users must stay online in order to get the reward; Secondly users should initiate more transactions to increase their share of total transactions; Finally, it will strengthen the network topology and facilitate the circulation of the coin as the number of users and transactions in the network increases.

You don't understand how PoT works... You should read the whitepaper, or the website.

At least read OP first post :


You won't increase your chance to generate a block with many wallets of your own, mining on many devices.
This is not PoW consensus, neither PoS, this is a new paradigm.
It's all about transactions :
- The harvest power of a wallet depends on the Tx fees it has accumulated within a certain time (not yet determined, probably a year).
- A wallet can decide to be a Club Leader with the signal Tx (send 0 TAU to itself) and so it can start to generate blocks.
- A wallet can delegate it's power to an other, joining it's Club, with the signal Tx (send 0 TAU to the Club Leader address) and get a share of the block rewards.
- Therefore the harvest power of a Club Leader is the sum of Tx fees accumulated by him and all his members

And there's more (club wiring, automatic block size) and all is to discuss, confront, defeat or confirm here with a chance to be rewarded for this effort.
Let's try

I have some ideas about your coin, How about I start mining it with many mobile devices just to get to generate the next block every time for myself? Then someone else would come and beat me with a higher numbers of mobile devices to generate the next block, Then the next person would do the same and there we have yet another arms race of mining. This does not seem to work as you would like to say it would. It is nice on the paper though, But it is not gonna work.

I like everything about TAU and its plan. I believe it will take only a few months to see many people into TAU community. It is growing because the plan is really good. I just want you to make clear also how you would match the price of bitcoin in the exchange or during the exchange?  If somehow i missed this, can you elaborate things to clear our mind on what will happen during the exchange and how big the price of TAU would be? I’m excited to see things that will break silence to many as TAU works in this cryptocurrency world.

Why from the first steps of building a fast, fair and secure crypto currency without inflation, the team is putting TAUcoin in a subordinate position in relation to Bictoin, Ethereum etc. I mean an automatic swap of TAU and BTC or create an ERC20 TAUT. Is it a way to attract funding? Why team is not running up a typical ICO? Is team try to avoid SEC regulations such way? In my opinion, the main goal is building a strong cryptocurrency and bridges are coming itself later. For example, more and more projects are running up on the Ethereum platform. And then everything is crushing down is crushing down yours Ethereum based coin. All this we can observe in this year on the Ethereum 's cryptocurrency example. How team plans to avoid such cases?

In response to TAU discord question on scaling potential.
In my view, scaling shall be devided to “block hand over time” and “blocks verification time”.
Hand-over is after the block generated, it takes time to find next network agreed block generator and broadcast block data, such time could be spend on puzzle solving in POW case or fixed time waiting in dPOS. Verification time depends on how many more generators to confirm the block, in permission-less chain like BTC it will take 6 block generators, in BFT such EOS, it takes ignorable time due to permission based nature.
TAU plans to reduce hand-over frequency when transaction volumn is up. This will reduce the number of hand-over times for certain number of transactions. When average transaction fee in past generator range is higher, consensus will permit the current generator to produce more blocks without hand-over to save time; when fee is lower, the less blocks the same generator can make. Generator will broadcast each block generated without holding. This is different from larger block size, that you have to hold broadcasting untill full block done.
Therefore, this is really no fixed up-limit for TAU to scaling up, it ajust itself to transaction volumn and network quality. While in the range of same generator, the speed to packing transaction is at same league as in EOS.   

Hello whats the benefit of having an erc20 token quivalent of TAU, minting erc20 tokens would only raise confusion plus the reason for it was only due to trading with third party exchanges? I prefer a better usage aside from the given reason. I like the project and want only the best for it. Hope you can cite more advantages for me to think that there are really advantage of this plan. If that's the only reason isnt enough to convince the community that TAUT is necessary for Taucoin expansion. Thanks would happy to hear more additional explanation for this topic. Actually, I found uniqueness on the proejct and I just want it not to tied with anyone such as eth. Taucoin can move best with its own features.

TAU has its unique features through Proof of Transaction. Foundation is lucky to find POT and taking an early dive into it. Since we found confidence through R&D, and I believe having more people support and access is valuable to everyone rather than holding. Pervassiveness is as important as permission-less network. ERC-20 is a platform like YouTube for TAU to distribute to many social channels, in this case it is both external exchanges and wallets. Removing infliction of the distribution is so important for such a future and profound technology.
ERC-20 ready also means many smart contract app developers can integrate us freely into their invention, which is so important. Thanks so much for your thinking.

Please search “taucoin” on google play store, you will find beta version published on sept 28th. However, there are bugs to be fixed, we did not publish it on main web. Thanks for remind the community our roadmap.

Regarding your roadmap, yesterday the mobile app has to be released right? how is it going?