Topic: Timekoin - page 4. (Read 24578 times)
I don't know how open transactions works, but I don't like how complicated it is. Seems there are contracts to do this and that, and we want is a coin. If you had a lot of 5 and 10 coins it would save space too.
What I mean by database is that you don't have one long chain text file. Instead each coin operates as its own. Thus, you go into the database and change a coin to a new owner. However, the blockchain does not grow.
I don't know if this is how it works or even if it would work.
I don't know if this is how it works or even if it would work.
This is how the contemporary banking system solves things: keep account balances in database, protect database centrally.
Now if you go from your idea (have a list of coins and an owner attached) and change it so that the previous owner has to sign a transaction to transfer ownership to someone elses key, you'd have something like open transactions, right?
Still... are you talking about a centrally administered database? If so: how do you expect people to trust the operator? If not: how would you go about decentralizing the database?
What I mean by database is that you don't have one long chain text file. Instead each coin operates as its own. Thus, you go into the database and change a coin to a new owner. However, the blockchain does not grow.
I don't know if this is how it works or even if it would work.
I don't know if this is how it works or even if it would work.
Apparently it uses mysql, php and a webserver to run the whole thing. Thus, there seems to be no blockchain? Is that correct?
Just because it is stored in mysql doesn't mean it's not a blockchain. Hell, you could store the Bitcoin blockchain in mysql if you wanted to.It's being done all the time: https://github.com/jtobey/bitcoin-abe
I don't see how this is better than Bitcoin, and that it's written in php it's a turnoff for me.
What is the TLDR on Timekoins?
On a first quick reading it looks like knightmb is batshit insane. However that paper might make more sense on a second reading.
People said that when I first mentioned bitcoins
Yes they did and a lot of people still say that. I'd not dismiss ideas just because they seem crazy on first encounter.
However from what I got from the paper it looks like it has problems bitcoin doesn't have.
sd, what kind of problems does timekoin appear to have?
What is the TLDR on Timekoins?
On a first quick reading it looks like knightmb is batshit insane. However that paper might make more sense on a second reading.
People said that when I first mentioned bitcoins
Yes they did and a lot of people still say that. I'd not dismiss ideas just because they seem crazy on first encounter.
However from what I got from the paper it looks like it has problems bitcoin doesn't have.
I was hoping it was not a blockchain and a ledger of some sort. However, if it is webbased, you almost have to use mysql as there are read-write restictions. Any reviews?
blockchain is a type of ledger, is it not? Mysql, php, webserver (Apache?)... built on OS pieces, I like that.
Maybe a ledger, I don't know if this is used by timekoin. Each coin is an entry in a data base. If someone wants to trade a coin it must first be approved by most nodes and the coin is swapped out with the new owner in the database. If this is possible and secure, bitcoin could replace the blockchain with this. You could have fixed coin payments to 2 decimal places and can be increased if necessary, 2,100,000,000,000 entries in a database. Maybe you don't have to have a whole number as a database entry but an entry would be a certain amount of coins organised by address. Thus if an address is used to send coins, it would be deleted and reused.
I really don't understand how Timekoin generates currency and how it randomly chooses a "miner" for the award. How is that managed on a P2P network?
Also, it says that if more people join the network, then more coins can be generated? It sounds like the rate of currency generation would not be predictible. The predictibility of currency generation is what instills long-term confidence in a currency, whether it's flat of decreasing with time.
Also, it says that if more people join the network, then more coins can be generated? It sounds like the rate of currency generation would not be predictible. The predictibility of currency generation is what instills long-term confidence in a currency, whether it's flat of decreasing with time.
I was hoping it was not a blockchain and a ledger of some sort. However, if it is webbased, you almost have to use mysql as there are read-write restictions. Any reviews?
blockchain is a type of ledger, is it not? Mysql, php, webserver (Apache?)... built on OS pieces, I like that.
What is the TLDR on Timekoins?
On a first quick reading it looks like knightmb is batshit insane. However that paper might make more sense on a second reading.
People said that when I first mentioned bitcoins
Would be nice to know how many blocks/coins have been generated to date.
I've setup a node and have it running... seems the "main program processor" stalls almost every minute...
What is the TLDR on Timekoins?
On a first quick reading it looks like knightmb is batshit insane. However that paper might make more sense on a second reading.
I'm attempting to set it up to see how it runs.
What is the TLDR on Timekoins?
On a first quick reading it looks like knightmb is batshit insane. However that paper might make more sense on a second reading.
I was hoping it was not a blockchain and a ledger of some sort. However, if it is webbased, you almost have to use mysql as there are read-write restictions. Any reviews?
Apparently it uses mysql, php and a webserver to run the whole thing. Thus, there seems to be no blockchain? Is that correct?
Just because it is stored in mysql doesn't mean it's not a blockchain. Hell, you could store the Bitcoin blockchain in mysql if you wanted to.
Apparently it uses mysql, php and a webserver to run the whole thing. Thus, there seems to be no blockchain? Is that correct?
What is the TLDR on Timekoins?
I read the website... couldn't quite figure out where the timekoins come from, or what gives them value. Anyone?
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