Topic: TAUCoin “Proof of Transaction” - features debate and bounty for 12 months - page 8. (Read 26488 times)

I am really a newbie on this thing and so far I need to clarify things. I haven't seen tps average anywhere here. Does it mean that the tau blockchain has not included it amongst to be criticizedor it is not relevant since it is POT? I think there are many coins out there who are also taking time to increase tps to allow faster and more convenient ways of dealing with personal and other matters. Second is that transaction power would be overloaded over time due to a more frequent transactions especially when it's high time to include taucoin in other exchanges thus increasing its fee. There was a time when i had too many small transactions in my account that it is not counted already. I read in the whitepaper about iTAU and i think it's great. Third it could be said that mining club leaders have the advantage for the distribution of coins per transactions. Also, regarding the Telegram bounty for communities, the owner of the group has the capacity to involve or not involve the rest of the community in its designated reward distribution. With regards to application of protocols and programs, I wish the devs have planned in advanced what courses to take especially that they have chosen POT as consensus mechanism over POW,POS and others. not that I think about involving the community is a bad idea but truth is, most of the time, without solid future plans, it slows the progress no matter how great the team is. Maybe we could also update the roadmap, shoud I say? And lastly mass adoption will require a lot of partnerships from big and small companies and entrepreneurs. A p2p-like transaction would be good example or a good start and these prospects in today's genaration are generally pointed towards the young people and young adults with exposure to their common interests like online shopping, gaming, ebooks, shared apps, music and video downloading, and other economic and societal and most especially governmental operations.

Yes, in my opinion, it is good information for Bounty and airdrop lovers like me that TAUCOIN held a gift distribution for bounty hunters and airdrop for 12 months. Let's use it to save TAUCOIN in our Wallet, who knows later it will be valuable as time goes by. We must think positively in everything.

Hello mate I think this one is clearly explained already by one of the member here. Please refer to the link https://bitcointalksearch.org/topic/m.46516203

Also Imorpheus already response that it will take into account but as far the issue goes. I think erc-20 still the best for TAUT. Advancing it on the higher token of eth smart contract will be done on a later stage. Plus as you mentioned it is imperfect so verdict here will stick still on the common use of erc20 tokens as by product of Taucoin.

Thank you imorpheus for the response actually we will see the impact of the pooling system when the exchange goes live. I already saw the medium post just a while ago that you will no longer put coins for swap. So it means community will dictate the value of it. I'm curious how the exchange would be ( UI DESIGN). Anyways, still have a week for the show and dont want to spoil it.

For TAUT, actually I don't see any reason for it to launch soon. Too much activity with different perspective. since the team already hiring experienced developer and talents, you can improve the native taucoin platform for other project interaction, product improvement, bugs fixing, and etc.

Additional suggestion: I know you're after the producy development right? the purpose of TauX is to gain liquidity of the coins right? Since its an exchange and its design for trading, it will be lousy if theres no activity happening. To make things sweet. During the launch, make a promo for trading. like bonus taucoin for those who will gain high amount of trades of taucoin. Something like that. I can give you sample of this from other project, but will not disclosed here, if you like can send you via pm.

There are significant consensus level pro and cons in lpos, tpos, pot. I would advise you to read our whitepaper v0.4 for much detail. POT is closer in gene to POS than POW. However, POT is different from POS in terms of value on circulation than hoarding. Because of the same reason, POT is more censorship resisitant than POS when 51% attack happenning.

What's different lpos with tpos? I have only figured of that one different is tpos u need join mining club' without using your balance (every transaction you made Will increase your balance) and lpos need leasing their balance for joining node (balance will change it to power)...is there any different thing in detail ...

Difficulty adjustment only changes expected block time (base target in NXT), it doesn't lead to arms race. Block time change doesn't have to be hard fork, it can be achieved through difficulty adjustment.

For block size, what is the advantage of multiple blocks over one large block?

The swapping rate will be depending on the community that will fund btc on the pool. Every swap will be determined the exchange value for it as long as there are btc investment on the pool.

For DEV: will you fund as well btc value on the pool or solely taucoin? I think liquidity is also needed just in case no btc investment during the first day of tauX but Im betting there would be.  Also, how it is working, is it like bancor? Direct swap? Im really intrigued how the exchange platform will work. But already seen some sneak peek on discord but trying it is much better. 

Hello imorpheus, I can see that the more community for taucoin will be good in awareness of the project. It's a good way to promote the Taucoin project over many people out there. The bounty for the project really helps in building taucoin massive community out there. However, what I don't like is the referral system being conducted as of the moment. The purpose of the referral system is to disseminate the projects objective by rewarding them through their help. Agree! But, some people abuse it and clearly using fake accounts and multiple signup just to acquire taucoin. Meaning to say, its not the community that grow on that process, hence the coins of the greedy people who are not helping the project but himself. I'm not suggesting to remove it cause it's clearly helpful and I'm not on any position to order that. Hope you can think of some other way on how to market them in a clean way. I like the project and want to promote it on the community. Well, you can see how much my dedication to help here. By raising issues to be address.

The ideal plan is to make all mining mobile, so that difficulty kind of adjustment is not nice option. Once the offchain arms race starts, cell phone can not compete. Blocktime adjustment seems to be likely to done via hardfork, when many miner feels that 1 min is too long, then hardfork will appear. Adjustable blocksize is currently implemented in plan through multiple blocks such as eos. I think this is a safe bet for now. Looking forward to hear more.

erc20 token standard is usable but now some masterminds are considering it imperfect, a stage will come when ERC223 token Standard will be considered imperfect,
nothing can be perfect with technology, but still now ERC223 token standard is not yet adopted, so let the TAu management replicate TAUT(ERC-20 compatible token) and  we go with the erc-20 compatibility issue  if needed in long-term

Thanks, i am thinking this issue every day in fact. Google and facebook has done amzing job recently to get rid of bots, i think they are 5% fake rate which is still acceptable to us. We are monitoring that closely.
In terms of counting method. This morning we annouce the daily 5m maximum for sign-on. Our program will auto adjust referral bonus in few days.

I would also prefer adjusting block size or difficulty when transaction volume is high. Transaction volume, block size limit, difficulty can be written into consensus with relative ease.

But consecutive blocks by one node has its advantage of reducing hand-over (propagation and verification) time. This could be a better solution if a fair and easily verifiable consensus algorithm is found. EOS and other BFT based approaches let one node produce consecutive blocks. Their blockchain is permissioned and block generating nodes are known in advance.

I'm in a mood for getting a couple more alt projects under my radar and eyeing them. Now we have seen many coins try to tackle this problem of mining arms race but so far none have succeeded (in terms of price which I guess while is not a success indicator normally, has become the point that decides whether projects continue or die).

Need more information on this "allowing" miners to make multiple blocks during high transaction volume. Instead of allowing a single miner/node to make multiple blocks, why not have an algorithm that detects the high tx volume and then adjusts the difficulty or adjust the block time, so that it also encourages easier mining as usage increases? I know it's a dumb idea if you consider spamming networks could artificially do this but there are preventive mechanisms for that.

Tau Foundation will not participate swapping other than 60,000 TAU per swap. In fact, this is not even necessary given current momentum. Plus why 60,000, that is hard to justify. Since the new whitepaper, we are likely to be the next currency, why should we sell at all. If there is no BTC, the TAU pool will piling to be very attractive for fans to grab it. The swap is currency centralized swap, since we are expecting huge volumn.
For ERC20 TAUT, i am more incline to not doing TAUT by foundation. It seems more like an startup opportunity for community member. It is kind of unfair for foundation to run TAU-T, since we are huge supply at lower cost than market. Any linkage from low cost TAU to market by foundation seems very dangerous to me now.
What do you think?

Hello everyone,

As the first author of TAU White Paper, I'd like to introduce several new features in the latest version (v0.4), which will soon appear on our website. Suggestions and opinions are welcome.

• Epoch is groups of blocks that ends with a checkpoint. No roll back is allowed beyond checkpoint that has certain age (currently 1 epoch). This can help to stop double spend attack.
• Mining power, mining club delegation, block reward are all calculated on epoch level, after checkpoint is finalized. This reduces node's computation load by avoiding large scale roll back on mining power and reward.
• Reward clipping mechanism stops abusive transactions to make any profit. The clipped reward is transferred into a "reward pool", which gives "coinbase"-like block reward for mining club leader.
• Epoch rotation significantly reduces the possibility of super power attack that can cause block denial and transaction censorship. Address that participates in mining has cooldown period after every epoch.

-Since we are at stage moving fast on content and ideas, it is very hard to maintain multiple language site. I think for the meantime, let’s just let community to translate and publish on each one server or social media. Then google can always help to find them. Thanks for your suggestion.
-We do not define exchange rate. That is community collective decision. Welcome to raise ideas on how to use TAU, we in fact will invest into nice ideas.
-I happen to be good at physics. I do not believe quantum computing is any where close. The noise on the earth will contaminate quantum entanglement. You just can never read signal as observer brings in too much noise.
-Violin8, thank you for the analysis, i keep that in my notes. In all security concerns, the most I am concerned is the “censorship on transctions once achieving 51%”. Soon or later, crypto world will face a real war against fiat super power, who does not care about economics. They can just do not allow anyone else to make transactions. POW is super secure whiling consuming entire USA electricity, but not possible to resist super power censorship at all, due to off-chain competition nature cause power could always hide themself behind infinite address.That is why POW is not the future of crypto.
POS and POT has potential, but POT is more scientific to be censorship resisit. If you are interested in exploring security and attack of TAU, welcome you to join our whitepaper writing. You just simply annouce, we will include you in.

I would like to suggest that the work I have tried to start with the translations has been expanded. Expanded to a possible translation of the site, and even the white paper in the main languages. Today, I can not find anything even talking about the TAU in my language, and I believe that the lack of translations mainly on the site discourages some potential users, like Japanese and Russians for example.

It's quite hard to pulled off a 51% attack on the network. Remember the attack that was performed quite recently on the Verge blockchain. The attacker here discovered a bug in the source code of the verge blockchain which allowed him to create a new genesis block at very high speed enabling him to create a longer version of the Verge blockchain in a short period of time.

51% attack is actually quite hard to perform but this is possible if there's bug in the network that can be used for this. I'm still studying the POT system and understanding the technicalities of it. With a very early stage of this project, I know flaws can still be observed here. Look what happened on the bug and error that occurred last week, coins are lost on the wallets of some taucoin holders, problem like this shouldn't happen once the testnet already proceed on higher stage of its development.

 I think, Taucoin still need to add more security features and hire more experienced developers to prevent stuff like this. 51% attack is higher than this and hopefully the team can handle this at extreme cautious way so users can ensure a relief of confidence on your project.  Especially when TAUX exchange hits on 18th which will consume more transactions the network due to trading activities.

I think a developer so composed to detect a bug from the blockchain can easily sustain an attack to the network.

Based on the Proof Of Transaction which prioritize the transactions processed in the network  increases rewards for the miners and club mining group will likely tells us that blockchains with a lot of active harvest power become relatively hard to compromise since the system isn't favor miners through expensive way of generating or mining a block but through system of transactions acquired.

However, smaller blockchains with a common protocol such as POW system, may be much more vulnerable to such attacks considering there is way less computational power to compete with for the attacker. But POT build on a different purpose compared to POW but there still at chance that Taucoin can still be penetrated at such time. What are the preventive measures the team can offer or at what protection levels the team can handle such incident?