Topic: Time to boost Bitcoin circulation, Million Transactions Per Second, more privacy - page 2. (Read 324 times)

If you can please explain a bit better how exactly are you using mobile phone wallets as ''nodes'' and emails, because this sounds to me like a privacy nightmare.

You say there is no central authority but most email providers are centralized and they track and read your emails like gmail for example that most people are using nowadays.

Sorry but I see a lot of holes in your theoretical medium post.

So, what happens if I send a transaction of 1BTC with a fee of 0.99 BTC?
I will be a bad creditor but at the same time, all the money is lost, so who will cover for this loss?

Also, as far as I understand the creditor will only give you access to the UTXO that covers the amount in the SABU protocol, it's all nice in your models to overcome an "evil" creditor but you have only counted a simple tx, not if he plans to combine inputs and use it to pay to different outputs, he will have another fee advantage over you as as a 1input, 2 outputs tx is 180 bytes and a 2 in / 10 out is 552 bytes so he will outbid you and still manage to save on the fees for the other transactions he was supposed to do.

And now to the SABU protocol, it's a centralized system, right?

Thanks jackg for your comments, but what you sommented, has nothing with Sabu protocol. The Sabu protocol doesn't care about hash-rate or "Current cost per phs" etc.
Please read the article carefully and "think out of the box". The protocol is based on UTXOs and potential valid transaction which people use them as a kind of debt-proving-document instead of sending it to Bitcoin network.
Potentially nodes would be millions or more with no limitation, since the nodes (mobile wallets) are standalone and it is not necessary everyone know everything about every transaction.

Have you thought of the international limit you're going to set on how much a node can hold on your network?

At current, I think I worked out a resync of every 2 weeks (the point where a new utxo is made) would take 0.5btc to be able to confirm within that time with neutral luck.

Hashrate current: https://www.coinwarz.com/mining/bitcoin/hashrate-chart
Current cost per phs https://www.nicehash.com/pricing

Values given are 116EHs and 0.0062/phs

116000x0.0062=719.2btc to take over the whole network for a day (obviously this is theoretical).

719.2btc/(144*14)=0.357btc

Thus, at 3000 transactions a block, each channel at the moment should be limited to 0.0001btc?
(blocksize ref: https://www.blockchain.com/btc/block/0000000000000000000489d050be1cb87b11ff2e77c9c6768b44f47f6eae6136)

Hey guys,
Sabu has nothing with Lightning at all.
It looks you do not know how lightning works, neither how Sabu works!
As a short answer in lightning both parties(sender & receiver) have to open channel and put the fund in a multi-sig account, but in Sabu no one has to replace its fund. The issuer just creates a valid transaction and deliver it to creditor. Indeed in 99.99% of time they do not need to record their money transfer on Bitcoin blockchain!
Please! read this post first.
https://raymo-49157.medium.com/time-to-boost-bitcoin-circulation-million-transactions-per-second-and-privacy-1eef8568d180

I am humbly looking forward to your conscious critique and helps about Sabu.

This looks really similar to LN, why not do a comparison to tell us more?

edit: looking at the paper is this not just the lightning network? Is it compatible with the lightning network?
You can check my link to the left of here for my summary of it, I linked the paper in the op too.

Could you ass to your post an explanation of how it would be decentralised (mainly with fund spending, would all coins be burnt to produce the one your protocol is issuing or are people able to sign funds out, how is this done with bitcoin having a limit of 15 signatures per multisig address - afaik?) , how it incentivises people to keep it decentralised, and how it stops attacks against decentralisation? Additionally is privacy fully assured - there's no gaps for reverse engineering how the system behaves to determine who has what funds?

by Ray Makan Otas (Raymo)


I am going to introduce a solution for Bitcoin low throughput (TPS) and its week privacy. It solves Bitcoin scaling problem and help its prevalence, particularly in small payments. It also highly increases the privacy level of Bitcoin users. It is a layer two protocol named “Sabu” and works perfectly with current Bitcoin core protocol. Sabu protocol is fully decentralized although it does not implemented based on blockchain or side-chains or any kind of DLT. In order to use Sabu protocol users only need to download the mobile wallet app (Gazin) and install it. No need to pay Bitcoin transaction fee, no need to open/close channels, no need to record transaction in Bitcoin blockchain, no need to run any server, no need to deposit or block money or Bitcoin in smart contract or stacking or any other third parties interference, even no need to have technical skills. And the last but not least no KYC at all.

How Bitcoin transaction works?
Owning Bitcoin, means having some UTXO (recorded in Bitcoin blockchain) under your control. That is you can sign that UTXO to prove you are the legitimate owner of that money. So if you want to spend your Bitcoins, you create a transaction by which sign your under-controlled UTXO(s) and represent your desire to transfer this ownership to the other person. This transaction is a document that issued by you and provides a legitimate order for this money transfer. In order to execute this money transfer, you need to broadcast your signed document to Bitcoin network aimed to record it in Bitcoin blockchain, otherwise, no money transfer has taken place. After recording this transaction in Bitcoin blockchain, “Everyone” will be aware of the new owner(s) of that particular spent coins.

How Sabu protocol works?
You -as a UTXO owner- are an “issuer”, and always can issue a document(AKA transaction) by which you represent your will to transfer some of your UTXOs to others. As long as this document is not registered in the Bitcoin blockchain, it is nothing more than a debt-document. i.e you owe some Bitcoins to someone else. That guy naming her/him “creditor” payed money to you or provided goods or services for you, in exchange of this transaction. Thus s/he has a copy of this transaction in her/his wallet. The creditor can send this transaction to Bitcoin blockchain network aimed to record this money transformation in Bitcoin blockchain, or keep this transaction in wallet. The creditor always can broadcast this transaction to Bitcoin network, but due to the high transaction fee on the Bitcoin blockchain and the insignificance of the amount transferred (a few Dollars), the creditor will not send the document to the Bitcoin network, instead s/he prefers to use this document as a payment method and exchange these documents in Sabu protocol and in an off-chain manner.
In this exchange process, you as the issuer will be informed of this credit transformation between two Sabu users and you have to issue a new document in which you owe the new creditor(s).
Sabu protocol is an off-chain protocol in which the UTXO owners (issuers) can issue debt documents and give them to creditors in exchange for fiat money or goods or services. The creditors can spend these documents and give them to other creditors or other issuers in exchange of money, goods, or services.
The issuers earn small Sabu-transaction-fee per each money transfer (10 Sat per transaction). Millions of issuers and creditors can exchanging these documents (transactions) in a pure peer-to-peer network continually, with no central authority. There is no blockchain nor public ledger. Users do not need to open/close channel or pay Bitcoin transaction fee neither routing fee at all.
After each dealing, the issuer cancels the old transaction and creates a new document, and updates the creditor balances. These documents will be in circulation between issuers and creditors in the Sabu network forever meanwhile less than one percent of these transactions will be recorded on the Bitcoin blockchain.
Either issuers or creditors in order to use Sabu protocol need to install Sabu mobile wallet (called Gazin) and start to deal. That is all they need. No technical skill or extra cost needed.

read full paper on
https://raymo-49157.medium.com/time-to-boost-bitcoin-circulation-million-transactions-per-second-and-privacy-1eef8568d180