Assuming throttling membership controls inflation (which I also doubt), it still doesn't solve the Sybil attack. Any more explanation?
This is an attempt to mint based on time without central identification service as I mentioned in another thread. Haven't got time to read the paper but if there is simpler explanations it would be appreciated.
Topic: Timekoin - page 2. (Read 24557 times)
Oh good, so the original adopters/developers can simply keep the add-node queue full so it will be forever before any newcomers get to the top of the list. Brilliant.
...I guess that is where the randomisation comes in. No top of list, just flood it so you have highest chance of being randomly selected?
-MarkM-
...I guess that is where the randomisation comes in. No top of list, just flood it so you have highest chance of being randomly selected?
-MarkM-
That'd be an attack on future adoption, but as I understand it the nodes that were already connected before the flood would still generate coins.
As long as those nodes are not disconnected from the network for more than two hours. Yes they will continue to generate. Redundancy is huge. You can run two nodes with the same private key and ensure that you generate coins if one node gets disconnected. There are different strategies i'm sure.
I like timekoin. It's still early. But given that the code is its own rewrite by KnightMB (i think thats his username) I see potential in it.
He knows the code in and out and its not a copy of bitcoin. It only adds to the concepts bitcoin put into place and setup a restriction to do with time which no one can control. So its not about how much money you have to buy equipment. Its the time commitment that matters to how much you generate etc.
Oh good, so the original adopters/developers can simply keep the add-node queue full so it will be forever before any newcomers get to the top of the list. Brilliant.
...I guess that is where the randomisation comes in. No top of list, just flood it so you have highest chance of being randomly selected?
-MarkM-
...I guess that is where the randomisation comes in. No top of list, just flood it so you have highest chance of being randomly selected?
-MarkM-
That'd be an attack on future adoption, but as I understand it the nodes that were already connected before the flood would still generate coins.
Oh good, so the original adopters/developers can simply keep the add-node queue full so it will be forever before any newcomers get to the top of the list. Brilliant.
...I guess that is where the randomisation comes in. No top of list, just flood it so you have highest chance of being randomly selected?
-MarkM-
...I guess that is where the randomisation comes in. No top of list, just flood it so you have highest chance of being randomly selected?
-MarkM-
Yup. I think in a year's time there is at max 33,000 nodes that can be added. Some number like that. Puts a restriction on just huge farms being added. Makes it a more even playing field and you dont need special equipment or waste tons of electricity on mining. The longer you stay connected to the network and contribute the more timekoins you generate in an increasing (asymptotic) way.
Oh good, so the original adopters/developers can simply keep the add-node queue full so it will be forever before any newcomers get to the top of the list. Brilliant.
...I guess that is where the randomisation comes in. No top of list, just flood it so you have highest chance of being randomly selected?
-MarkM-
...I guess that is where the randomisation comes in. No top of list, just flood it so you have highest chance of being randomly selected?
-MarkM-
I didn't realise before that there is actually software for this, I thought it was vapourware.
It looks like you can run thousands of instances and thereby get to generate more coins?
-MarkM-
It looks like you can run thousands of instances and thereby get to generate more coins?
-MarkM-
Yes you could...but each instance would have to wait 30 minutes to join the network. There is a process for node selection. One node is allowed to be added ever 30 minutes or something like that.
How does this process work? It still sounds like I could "impersonate" many people.
Also: what if 100 people want to join each day? That'd be 50 hours per day.
there is a technical paper at timekoin.org.
It was recently updated. It explains it there. Yes there is only so many nodes that can be added in 1 day's time.
That would be the restriction of trying to inflate the supply of timekoins....time restricts that supply.
Go have a read. It's good stuff.
Oh, yet another *coin... oh wait, this time's a *koin!
I didn't realise before that there is actually software for this, I thought it was vapourware.
It looks like you can run thousands of instances and thereby get to generate more coins?
-MarkM-
It looks like you can run thousands of instances and thereby get to generate more coins?
-MarkM-
Yes you could...but each instance would have to wait 30 minutes to join the network. There is a process for node selection. One node is allowed to be added ever 30 minutes or something like that.
How does this process work? It still sounds like I could "impersonate" many people.
Also: what if 100 people want to join each day? That'd be 50 hours per day.
I didn't realise before that there is actually software for this, I thought it was vapourware.
It looks like you can run thousands of instances and thereby get to generate more coins?
-MarkM-
It looks like you can run thousands of instances and thereby get to generate more coins?
-MarkM-
Yes you could...but each instance would have to wait 30 minutes to join the network. There is a process for node selection. One node is allowed to be added ever 30 minutes or something like that.
http://timekoin.org was created by knightmb:
Quote
Timekoin is the first non-experimental application of an open encrypted electronic currency system on a public network.
I think this say it all, no?
I didn't realise before that there is actually software for this, I thought it was vapourware.
It looks like you can run thousands of instances and thereby get to generate more coins?
-MarkM-
It looks like you can run thousands of instances and thereby get to generate more coins?
-MarkM-
where is the database ？
I currently have 679 timekoins.
=>
I'm curious myself how sybil attacks are prevented. Apparently there is nothing stopping me posing as millions of different identities/miners. From the looks of it, this does not appear to be implementation of the POS scheme either. If this is something novel, would the OP mind describing how it is supposed to work?
Hi
What kind of 'exchange system', is it like MtGox? can you give more details? thanks.
They are developing exchange system, so be patience
What kind of 'exchange system', is it like MtGox? can you give more details? thanks.
want to buy timekoin for bitcoin - who is selling
They are developing exchange system, so be patience
want to buy timekoin for bitcoin - who is selling
They are developing exchange system, so be patience
LOL i concur "beee payshentsss"
I'm not a robot like you, It's human make mistakes!
And also my mother language is not ENGLISH!
They are developing exchange sytem BE PATIENT
want to buy timekoin for bitcoin - who is selling
They are developing exchange system, so be patience
LOL i concur "beee payshentsss"
want to buy timekoin for bitcoin - who is selling
They are developing exchange system, so be patience
want to buy timekoin for bitcoin - who is selling
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