I'm a bit skeptical about the proof of identity. Could a dev please explain to me how this is going to work? As many tech details included as you are willing to disclose.
Thanks
anyone?
id love to know how you are going to incorporate a centralised function into the code of a decentralised crypto?
who are the devs?
While I can't give you technical specifics and will have to leave that to Boris or SyRenity, I can tell you that it is intended to be a function of the custom block chains and merchants will be validated by the issuance process of new assets. It's briefly touched on in the current non-technical whitepaper and will be explained in more detail in the more technical whitepaper as we get closer to launch. If you would like more details, you could try PM'ing Boris or SyRenity, they might be willing to disclose a few details in a PM.
what i dont understand is how you intend to verify identity in a decentralised system? even using side chains it is impossible to implement because you need to actually physically look at credentials on a case by case basis. how can a blockchain tell the difference between a real business and a shell using fake credentials? its like me signing up to a site that asks for my name and address and nothing to prove that the details i enter are real. i could enter anything and it works. you need to actually look at photos of ID and scanned letters to prove identity. which means a third party person or entity is required for processing. this is not possible to incorporate into a decentralised system unless you intend to be part-centralised for the purpose of having proof of identity. how can an algorithm be used to check the identity of someone when you need physical eyes to do it?
also proof of purchase seems flimsy at best. how do you distinguish between one address and another in order to say that the transaction was done to pay for goods with out using a third party to validate that any given address is - in fact - that of a merchant? what is to stop someone from setting up multiple accounts and sending transactions back and forth from their own accounts? there is no way possible to say that "this account is undoubtedly that of a merchants" with out a person or entity to verify this. which leads to the person or entity having the ability to censor what merchants are allowed to be merchants which is no better than google censoring one website or another simply because they want to or are paid off to do so.
it is ridiculous to believe that these algorithms can be done in an automatic, decentralised manner with out the ability to manipulate the system and for this reason i call bullshit on this coin. but hey thats just my opinion. if you say you can verify a business, identity or purchase in a decentralised manner free of third parties/entities with out the ability to manipulate the system, who am i too argue.
everyone, just throw your money at projects that are obviously not possible, itl be grand. if i were anyone who has invested. id be getting a refund asap, but hey thats just me.
also. you cant say that this is the first coin writen in node.js.
not yet anyway. depends on who launches first between you and nxtlite
https://bitcointalksearch.org/topic/closed-thread-590421Much of this is covered in some of the documentation at a base level.
The PoI and validated merchant wallet will be a part of the custom blockchain and asset issuance system. The PoP will revolve around the utilization of that merchant wallet in order to determine the activity was a purchase activity. This is outlined in the whitepaper in I believe the bottom third or so. Don't think of it necessarily as us collecting social security numbers and drivers license, as that is not the intended process.
Of course as with any system I am sure someone could find a way to get a validated wallet, but they would in essence be doing all of that extra work to pay less to send themselves money, and would still be paying half of the transaction fee each time they sent themselves money, causing a net loss over time. The weight offered by the PoP calculation isn't enough to put them at the top of the block competition without them purchasing quite an extensive amount (more than they should in reality be able to afford).
