Topic: TAUCoin “Proof of Transaction” - features debate and bounty for 12 months - page 9. (Read 26435 times)

You mention that the TAU foundation will be swapping 60,000 TAU per swap during Tau-X, can you confirm the exchange rate these will be swapped at?

I see great potential for this coin, it just needs to get some actual utility rather than just being a coin.

Hi imorpheus,
As you know near future quantum computer will be a great threat for today's cryptocurrency technology. Quantum computer could hack public key and also super fast for mining. what kind of protective measure or action have you taken for this future threat?
Thank you.

Every technology, regardless of how secure it appears to be, has certain vulnerabilities that can expose the sensitive data to the potential hackers/attackers.

I appreciated the earlier initiatives that TAU founder and his team took to realize and implement strategies to minimize these scenarios from happening since this early stages of project development.

Inline with the development progress, the following should be put into considerable account to minimize or even eliminate the recurrence of which can result in a massive loss for the cryptocurrency investors and owners, more over the decline of the company.

TAU team should be extra careful before using smart contracts. You should make sure you understand the use and implementation of smart contracts before getting into a deal with a third-party vendor.

For the Organizations that want to deploy 3rd-party Blockchain apps to TAU chain, they should be aware that weak security on the  their side as vendors can lead to hacking or fraudulent activities. Vendors have to be extremely careful in making sure that the code is not flawed and all the vulnerabilities have been acknowledged before the Blockchain apps are made available to the interested companies.

Code testing issues can cause a disaster like DAO or Bitfinex exchanges some few days back. Therefore, it is important that you get the code tested properly and have it peer-reviewed before its deployment. In terms of smart contracts, make sure that they have been reviewed and tested by independent testing centers.

Nodes can become uncommunicative at times and pose a security risk that can disrupt the information flow within the network. In order to make sure that the integrity of TAU ecosystem is maintained, it is crucial to identify the nodes that transmit false information or are restricting the transmission of certain information. This will help prevent what's happed few days ago regarding the unsent transactions and missing balances to some of the users.

With the growth of the number of feature-rich dAPPs, the privacy leakage risk of blockchain will be more serious. A dAPP itself, as well as the process of communication between the dAPP and Internet or the specific Blockchain, are both faced with privacy leakage risks. There are some interesting techniques that can be applied in this problem:

✅ code obfuscation
✅ application hardening
✅execution trusted computing, for example Intel SGX

Those are the specifications that team can insists or require from dApps developers to make sure risks are eliminated in every corner of the Ecosystem

Indeed, TAU dev is young in blockchain, and we are making many mistakes. Thanks for the community still staying with us. So two actions are adopted. One, learning every day to increase our capability. 2nd, open up TAU development to community members via “developer bounty”, that is to using TAUcoins as compensation to incentivate talented programmers to help. We will annouce the bounty very soon.
Regarding how hard to perform 51% attack. For seeking financial benefits, 51% attack to the chain is not much profitable. But for destroying the chain, 51% attack is well justified for high investment, when super power want to do that. Therefore “double spend” is not primary conern, since it is seeking profit and checkpoint technology can deal with double spending. At the same logic, this is why “allow rebellion feature” is important. Assume one day, tau community found many transactions are censorshiped due to unknow power 51% attack. The epochs design will provide a chance for us to declear rebellion when major mining power is contained by previous epoch.
For keep club leader honest, i think there shall be a “yelp” service to rank their behavior. I would rather let club leader have full freedom to take all block reward, then club members just leave it alone.
Our mining energy cost is much lower than POW, and at same scale as POS. For the speed, reducing hand over frequency is way to increase TPS when lots of transactions in pool.

So, TAU epochs are great technical innovation which will save TAU community from 51% attack. That's cool and sounds good.

And based on your full discussion in this thread, i can see that you have solved really great problems that our current blockchain facing. I mean,

- Mining cost will come at 1% compared to the present mining cost of other coins.

- Transaction speed will be very fast. Normally, As blockchain grows transaction speed decrease but here in TAU i can see that as it grows transaction speed will increase more due to POT(Proof of transaction) consensus.

- Safe from 51% attack

Am i right?



But I still see the inequality between club leader will be happening soon due to the greediness of block reward. I think if you fixed a percentage of the block reward for all club leader, it will be good. I mean all club leader can only take 1-2% from the block rewarded to them individually. I hope it will bring fairness among the club leaders and also community will be safe from greediness.

What do you think about this idea?

Pow such eth epochs is used in deciding the difficulty increase of puzzle solving. TAU epochs is for reducing computing power to that mobile device can spport. For example, recomputing minging power and distribute club reward is resource comsuming. Epoch allows computing happen after the last epoch and before the next epoch starts, so that you have entire one epoch to compute. POW coins can never do this technically.
Epoch is also for partially resisit 51% attack, double spend and censorship. Double spend can be contained in announcing checkpoint after epoch.
Transaction censorship is a bigger problem to resist G20 super power, so epoch is created to allow community to rebel after censorship is found. This is a unqiue feature POT is superior to POW and POS. Hope this clearify.

Hi, I want to know how you will use your 100 ephocs? Ethereum uses 30000 blocks to update their ephoc..From where we could know hash rate. Right?
 So, what is the difference of yours?

And i also want to know how your mining power as named as harvest power work? Is it follow POS?

Thanks

Because we want to make consensus debate to be very serious and careful. What cause you not sure taucoin is good?

wow, making a bounty program for 12 months, isn't that too long? Will it be good for the future according to friends? I myself just read about TAU ​​COIN,so it can't predict whether it's good or not

Hello, to clarify my suggestion, in order to distribute TAUT, the equivalent volume of it (In Tau native coins) that will be issued to holders will be locked. It's the same with your plan. You will locked the 100million tau native coin right? then will issue the 100 million erc-20 tokens TAUT. In my plan, the TAU that will be locked depends on the erc-20 tokens that will be issued to holders.

David, have you thought about network errors when the number of transactions exceeds the volume of the miner's server? According to conversations, I realized that the number of transactions in 500k is approximately equal to the volume of 5GB. What will happen to the servers if their capacity is exceeded, and they will not be able to ignore the transaction? You have not thought to use third-party servers to store information such as Amazon & Google

Thanks for your Answer about my claim. Got it.

Last week we spent some time on ERC20. This week, I would love getting debate on 51% attack containment.
On POW and POS, once some miner has 51% power. It could generate own chain disregard other miners to perform transacton censorship and double spending, which will essentially put block chain useless.
In TAU, we envision to using many epochs such as 100 epochs to contain 51% power attack. When the super power using 51% to win in one epoch, then the winner will not alllow to participate next 99 epochs, the minging power of winner is not allow to transfer during same period.
In POW, it is hard to prevent mining pool to switch computing power. So lock up computing power is impossible.
In POS, transfer assets is harder to maintain coin age.
This is an exciting and unique advantage TAU- proof of transaction might bring us. Please give feedback.

thanks for the suggestion. The TAUT distribution plan is not yet set. We will consider yours and recogonize it when adopt. TAU-X is current the focus.

Building a YELP on mining club leadership is critical in many ways. Agree.
Building trust on off-chain physical solution is lost of beauty of blockchain. TAU driving fuel is on transaction fee, not transaction number. This prevents the sybil attack of meaningless accounts.

Hi dear imorpheus,

There are certain problems that you mentioned in your whitepaper. I have collected very important problems or attacks that will create problem  
in TAU  ecosystem which you will see by red marking here in quote.

First of all, if these problems and attack can be solved TAU will be unbeatable. Without these problems, everything can be solved gradually by time.

Problem1: leaders may take most or all of the block reward.

Solution:
I think there should have a trust system/feedback system also for mining club. So that, people can choose the best one. And to protect the feedback system you also need to reduce the creating of fake wallets. So, for this, you can add a simple physical authenticator in wallet like (yes or no).

Other Problems:

for-profit, whose goal is to maximize
profit in future block reward

whose
goal is to manipulate block generation and control the
network regardless of economic gain or loss.

This opens
door for various attacks such as double spend.

Solution: All these problems can be solved or reduce 80% by simple physical authenticator in wallet like (yes or no). or think about something like google authenticator.

What do you think?

Thanks.

thanks!

I have a suggestion for distributing TAUT, designate a certain date on which you can distribute it by minting erc-20 tokens depend on the holders of TAU native coin. You will be needing a ratio for distribution for this, like forking of bitcoin, EOS airdrop and NEO airdrop ( gas distribution). For example a tau holder of 100,000 will gain 50,000 TAUT erc-20 tokens. so the ratio there is 1TAU: 0.5TAUT. Then all, erc-20 tokens dessiminated to all holders equivalent to total number of Tau native coins will be locked. In that way, the distribution is equally achieved. What do you think? I think this is a great idea on such plan for launching the erc-20 tokens right?  If this plan will be executed, I hope you recognized me on such proposal. Thanks!

Email [email protected] , and link this thread, you will be rewarded in building tau category after admin confirm the work.

how to claim working TAU reward?

I did not find an option within "tau building". only links