Topic: TAUCoin “Proof of Transaction” - features debate and bounty for 12 months - page 5. (Read 26435 times)

TAUcoin debate daily topic 10/24/2018

What do you think of reward clipping in POT? For example, mining reward of every address is bounded by its total historical transaction fee paid. The goal is to discourage users from making transactions for future profit (mining reward).

As we know there are two broad groups with respect to the style of cryptocurrencies transactions UTXO (BTC) and account based (ETH).

In the UTXO transactions, each coin contains essentially two different pieces of data: ownership data, and the amount it represents. Transactions inductively spend outputs generated by previous transactions and create new unspent outputs, and there is no intrinsic notion of an account associated with an address.

In the account based transactions, the currency is spread among the multiple accounts of the system, each of which has a specific balance. Each address is seen as an account with a balance, and transactions are transfers of value from one account to another. Every transaction also contains a unique nonce to protect against replay attacks.

Pros for UTXO:
First, it allows transactions to be processed in parallel for different UTXOs and transactions can be processed in any order. These parallelizability and invariance property lead to scalability benefits.
Second, it is difficult to link accounts to each other because the user uses a new address for each transaction that they receive. It leads to a little higher degree of privacy.

Cons for UTXO:
The main one it is its complexity. Second UTXO basically suited only to asset issuance and transfer applications. It’s more difficult to successfully run smart contracts on it.

Pros for account based are simplicity and efficiency before UTXO.
Simplicity means that it opted for a more intuitive model for the benefit of developers of complex smart contracts.
Efficiency means that each transaction only needs to validate that the sending account has enough balance to pay for the transaction.

Cons for account based main one is a double spending attack. Every transaction must have a "nonce" and the account must keep track of the nonces used.

Some word about TAU. In my opinion TAU devs, team and rising up community should find own decision. Maybe it will combine UTXO and account based. Or it will something innovative brand-new like a Proof of Transaction consensus mechanism. Copies are always worse an original.

References
https://medium.com/@ConsenSys/thoughts-on-utxo-by-vitalik-buterin-2bb782c67e53
https://eprint.iacr.org/2018/513.pdf
https://eprint.iacr.org/2018/262.pdf

So any ideas on which way TAU should go?

Today is supposedly the reopened of TauX but based on Imorpheus announcement, the team decide to postponed the exchange due to premature of the platform and the factor that taux cannot handle bulk amount as of the moment.

I think its possible to gain peer to peer on mobile there are lots of other projects already doing this will not mentioned all. We can't deny that some are disappointed with the postponed of the taux but the platform still need to be perfect yet and building a solid mainnet is a good move before releasing the taux. Also I noticed  encouragement to use peer to peer, on the announcement but this will not be easy for those holders. Why? In order to do a peer peer, there are lots of factor along the way such as trust, valuation of the coins, the taucoin doesn't have an ICO and the people cannot set the value of it properly. Scamming can rise from it due to no trust doing it with one another. At least escrow service for this is also good solution but it will hassle on both parties since they don't know or doesn't have idea about its current value.

I think the remedy for this is to linked on an external exchange or third-party liquidity platform so everyone can do the peer to peer with a system. I can see that taucoin needs massive transactions to rise potential value. But without an ecosystem where we can do it we cannot grow faster than expected.

Congrats genie on the start of TauX I think its already a success. I can see that potential investors are really on the way, I.noticed it during the swapping of taucoin but dumpers are still many. But I don't think the second round will be the same. I salute all the team who made this possible. By the way, is there no limit on the BTC pool? I mean I think its much better if have at least minimum pool for btc before the swapping happen to preserve taucoin price. What do you think?

Thanks for the suggestions. These actually are quite similar to Electroneum's mobile "mining" APP, except that theirs only offers simulation of mining. Another big problem is that Apple and Google currently ban mining APPs in their APP store.

There are still few bounties left mate, I know not all will be able to participate on those.bounty due to difficulty to participate like developet bounty. They can participate on the debate to share idea but it seems not all are interested or hesitant to do so. I guess, we cannot do anything at the moment but wait until TauX live again. I know from this event many feels dissapointment towards Taucoin but they should remember that this project is om early stage of development and still has a lot of room for improvement. It includes room for mistake as well and this is totally acceptable on our part. I know everyone expect a lot from the project but only those easy go lucky dumpers will totally not understand the hardship the team did to get this far.

 UTXO

1. Higher degree of privacy: if a user uses a new address for each transaction that they receive then it can be difficult to link accounts to each other. Although some wallets (JAXX eth) can have multiple addresses, this has not benen brought up yet with Eth official wallet. Once a transaction is done, though it is recorded there, one cannot do anything about it.
2. Potential scalability paradigms: UTXOs are more theoretically compatible with certain kinds of scalability paradigms in such that it uses only one proof of owner ship in the Merkle tree.
 
ETH accounts

1.Large space savings: because every transaction need only make one reference and one signature and produces one output unlike UTXO's that could probably have 2 more reference for output.
2. Greater fungibility: because there is no blockchain-level concept of the source of a specific set of coins, it becomes less practical to institute a redlist/blacklisting scheme. I believe freedom is one of the concept of Etheruem and creating a restriction on coins of where they come from is not invluded in their function.
3. Simplicity: it seems easier to code and understand, especially once more complex scripts become involved. Unlike UTXO, it doesn't require proof from the Merkle tree.
4. Constant light client reference: light clients can at any point access all data related to an account by scanning down the state tree in a specific direction. In UTXO paradigm, every transaction leads to another reference therefore crating a system with more privacy than ease of tracking.

TAUcoin debate daily topic 10/23/2018

What are the pros and cons for UTXO (BTC) and account based (ETH) systems?

Sorry that TAUX didn't work as expected. We need more mature platform and community.

Back to the daily topic. I was actually asking for ideas on mobile mining and its communication issue. That is, how we build a peer to peer network over which we send transactions and blocks, without potential censorship from App store (Apple) or WWAN service provider (Verizon).

TAUcoin debate daily topic 10/22/2018

As we are doing research on mobile mining, the first issue is communication. Peer to peer network forms the basis of Bitcoin. However, communication on mobile devices, such as phones and tablets, are usually managed by WWAN provider. Is it possible to build a peer to peer network for mobile devices? There already exist ad hoc solutions.

i will check thanks

Hi atekwe, the first note on the tread explains everything.

This platform is not user friendly,  it is very difficult to explain to someone how to get tau via bounty.  I think it should be like a chat forum where a single link takes you to a page with the debate question on the top and everyone replies to it

thanks for the support. i think some speculator moving away from POT is good. We are fixing bug and will build a POT main net fully on mobile nodes. All i need is staying with us and give us some time, and always discuss the white paper here. we will still give out the bounty reward even it might not as much as we thought.

I hope you understand that TauX still at early stage and been drafting codes and trchnical writing at this time is progressive working. If you found it simple, you can apply as one of the tesm member and prove it with your skills, since they have a developers bounty. We can criticise the whitepaper considering you can support your idea that cotradicts to it. From what I see, they are working hard for this project and ao far the only conflict in the process are the inevitable bugs that occur in the network that is totally fine considered this as an esrly stage. But that alone is not an excuse for the dev since they annoucned iy opening with utmost confidence and should be prepared for this but still something went wrong. We will see if on its reopening it will succeed all the way.

earning coins from posting or sharing or liking on these social medias will be  very easy task to do, if the prices are good for TAU , i think even the TAU group considers that specific idea , they wont be offering much for posting, sharing or liking on social medias ,this is good during the airdrop phase when tokens remain simply tokens not close to the time when its going to be listed in an exchange or ready for swap