Topic: [XCR] Crypti | Dapps | Sidechains | Dapp Store | OPEN SOURCE | 100% own code | DPoS - page 121. (Read 804700 times)

Congrats, Passion!  Just a few more hours and it will be time to update your sig!

Got it 

It was also irony of dzarmush.

its a trick

The block chain will be stopped at 0700 UC.  So any transaction in XCR after that is a ghost transaction.  But not in BTC.

Then the new 0.2 DPOS block chain will be enabled.  Transactions in 0.1 will no longr show on your node account page, just the balance.

1000 sat per XCR  Why so cheap?

Feels like it has taken ages to get here and now that we are in the here, the journey has just begun.
Congratulations Crypti team and all supporters.

WTS 1M Crypti for 10 BTC, tomorrow after 7:00 UTC 

Great news guys!

v0.2.0 release

We are proud to announce the release of v0.2.0 alias Chronos! Chronos, the personification of time, marks the beginning of a new Crypti era, from here on there only one path exists and this is the path to the top.

All latest tests by our team were very successful and the public beta is running for 3 weeks without any problems. Therefore we are finally able to launch it. The Chronos update includes hundreds of backend improvements and fixes and a whole new consensus mechanism called DPoS (Delegates Proof-of-Stake).

With DPoS, our blockchain will have an entirely different structure, therefore we will create a new blockchain from scratch. For this we will save every balance from the old blockchain and transfer it to our new one. All transaction history will be deleted and only the final XCR amount will be left in your account. So if you need your transaction history you have to save it now.

Due to this we make this pre-announcement so that everyone can prepare themselves. We will start to update our nodes tomorrow at 7:00 AM UTC. It is very important that you don't do any transactions in this time frame, until we give our OK! (It may take several hours or the whole day!) Every transaction after 7:00 AM UTC in the v0.1.9g Crypti branch will not appear in the Chronos (v0.2.0) branch.

We already contacted the exchanges and they will stop the withdrawal and deposit tomorrow as well.

If you are a Crypti node owner we ask you to turn off your nodes tomorrow at 7:00 AM UTC. We will upload v0.2.0 as soon as possible tomorrow so you take a look yourself.

In the beginning we will host the entire network on our own delegate nodes. These are the so called genesisDelegates and will be replaced one after another with "real" delegates. It will be very important that you will upvote the delegate nodes of our loyal community members in the future. But we will give you more information and tutorials about this soon.



For now we want to thank you all for your trust.

The Crypti Foundation

I would be very interested in seeing a PDF checklist for dummies on how to set this up and do this at your favorite cloud service vendor.


I totally agree this dev team and its flexability is the biggest benefit of being involved with Crypti!

Mal,

Due to the very low system requirements, we anticipate being able to run a delegate on a $5 a month cloud server. We also anticipate that many would simply be running their nodes from rigs they already own and run for other cryptos or purposes. Once DApps are launched, many of the nodes voted in as delegates will likely be those same node being run in order to interface with the main chain and secure their custom chain (or nodes being run by the author of a DApp). In this case, it's a tradeoff you would be willing to make to possibly lose a couple bucks a month on running a delegate in order to secure the network.

The biggest benefit of the being involved in Crypti and supporting Crypti, is that we don't function like most other teams. We will constantly monitor and discuss these fees and the ROI for delegates as well as any options available. Up until we have all core features developed and launched, we still consider Crypti to be in a beta phase and we are more than willing to consider any and all improvements that can be made. We have discussed all kinds of options from 0 fees, to 0.5% fees, all the way to allow delegates to publicly vote (and determine by majority / average) on what they think the fee should be and then allowing users to to factor that into whether or not they vote for a delegate.

Bottom line, this is a fluid attribute of the network and something that I believe we will see being discussed again in the future.

There is a link to the WIki on the OP.  Please go there for all links for Crypti.  We have been keeping it updated.

There is a full explanation by GreXX a few pages back.  But to summarize........... THIS IS NOT NXT OR NODE !!!!

WIth XCR, Crypti, you can forge with 0 XCR in your node, as long as your delegate has enough votes to be in the top 101 delegates.

To forge XCR, you make a node/wallet and have 10,000 XCR in it.  You pay the 10K XCR for forming a delegate, which is just the forging part of your node.  After that, you do not need to have any other XCR, unless you want to vote.  The 10K XCR delegate fee is paid 90% to the other delegates that are forging, and 10% goes to the Foundation for the Node Reward Program and the Faucet.  

You can vote for your own delegate, and other delegates, or just convince other nodes to vote for you.

Votes are cast by the nodes (wallets), and count 1 per XCR in that wallet. A node with 500,000 XCR has 500,000 votes per delegate.

To vote,  that node needs to pay 1 XCR, and then can cast its 500,000 votes for 33 delegates. Thats 500,000 each, not 500,000/33.

The node may vote again by paying another 1 XCR, during which vote process, the node may remove votes from nodes it voted for previously, and add votes to other nodes.  Total votes, up or down, cannot total more than 33.  

The node can vote for max 101 delegates, which will take 4 vote cycles.

The delegates are ranked by total votes... #1 to #101 and then all other delegates are listed as reserve delegates, and advance to active forging only if there is a vacancy in the top 101.  

A cycle of forging is 101 blocks forged.  This starts off with the delegates being chosen in random order to forge a block, one every 10 seconds.  When all 101 blocks have been forged, the cycle ends.  The fees are totaled and paid EQUALLY to all forging nodes.  Delegate #1 earns the same fee as Delegate #101.  

There is no advantage to having massive amounts of XCR, other than the money you will make as the price of XCR climbs.

Then a new cycle of 101 blocks to be forged is begun, and the delegates are chosen in random order to forge.  If a delegate s unable to forge a block, the block is sent to the next delegate for forging.  Every cycle will have 101 blocks forged, even if several delegates drop out before forging that cycle.  Only delegates that actually forged a block will share the fees at the end of the cycle.

I'm a relatively new comer to the new system and its rewards..
Say I have 500K coins, does that mean I will get more rewards? Or does it depend on the number of nodes?
Is there a wiki somewhere on this..
Regards,
Brian

And one could also say this is whats wrong with the current system. People don't want to be held responsible for careless actions. Your right a credit card company refunds you, but if you think thats where it ends your mistaken. We all pay for this with High fees, and Higher prices at the stores. The think that Crypto solves it taking out singel points of failure. Meaning you hold your own Key to your funds, and if some one breaches this only your account is affected, However if Target is hacked then 100k accounts are affected. Do we have every detail ironed out in Crypto yet? No but we are getting better and better every day.

Mal,

I am only running one delegate, because I feel that I should leave room for the community to run delegates, and not hog all the fun.

When the new DPOS system is launched, there will be already 101 delegates.  This is necessary to have a functioning system.  They will have few or no votes, and thus are designed to be voted out of the top 101 as other delegates come online from the community.  They will also serve as backup delegates for when there are less than 101 online delegates.  A delegate, once created, cannot be deleted, and will show forever in the delegate list.  

It is my understanding that each delegate from the same node would share the same blockchain.db.  You must have a node to make a delegate.  A delegate, or two, or three, is just a forging account for a node.

We think that you will find running a delegate will prove profitable as we grow.

It's on your hard drive or SSD of course. It's theoretically possible, but why should the community vote for two delegates on one node? They will probably vote for another one.

The DRP sounds like it will just "artificially inflate" the baseline transaction traffic with "test transfers", and so "just" be a (perhaps significant) component of 10M or 100M or whatever Crypti per month changing hands during the live 0.2.0 test phase.  Not insignificant, potentially, and definitely worthwhile from a test standpoint, but you can't keep that up forever.


So you are running multiple instantiations of the 0.2.0 software on one machine?   Are they each running their own individual copies of the blockchain or all accessing a single common one?

I have some concerns because I don't understand how blockchain memory management is implemented and it scares me when you say terabyte blockchains are coming, presumably with Custom Chains.  I want to turn a node on and have it run a year or more as my goal.  At 2.5MB a day I get a 75MB main blockchain in a month and a gigabyte main chain in a year.  Is this all in RAM?  Getting read on and off the hard drive?  Per instantiation?

I just don't want things to go great and hit a memory limit and crash at some unknown time in the future.

Also - no limit to the number of delegates a person can run on at one IP?  THAT doesn't sound very fault tolerant.  I would have thought you would be more likely to specify 101 Delegates on 101 IPs and no more than 40 per North America / Europe / Asia or something like that.  Isn't dispersion of nodes better than concentration of nodes?  

Mal, you did not consider the Delegate Reward Program in your calculations.  We cannot promise $10 a month in earnings, but the DRP will mitigate the expense of paying to have a running delegate on a cloud server.  I will be running mine on a miner that is on all the time anyway.
You might do the same.

There is no limit to the number of delegates a person can run on the same IP.  The electrical cost of an "always on" laptop with 1 delegate is the same as the same laptop with 5 or more delegates.  

This week. We can't give a specific time right now because we still test a few parameters specifically for the release. (like main net snapshots or genesis delegates)