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Show HN: My experimental take on a decentralized ledger

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11–20 of 28 posts

Re: Show HN: My experimental take on a decentralized ledger

#11
post #7

How would this prevent a flood attack ? What I mean is in Bitcoin and presumably Stellar, you need coins to create transactions. There is therefore a cost to spamming the system.

It doesn't prevent a flood attack. The challenge in this approach does not lie in "preventing it" but in "dealing with it".

Do you have some ideas on how to deal with it?

Re: Show HN: My experimental take on a decentralized ledger

#12

How would this prevent a flood attack ? What I mean is in Bitcoin and presumably Stellar, you need coins to create transactions. There is therefore a cost to spamming the system.

Stellar is 100% centralized. In fact, its owners took it down at some point to change some rules.

Re: Show HN: My experimental take on a decentralized ledger

#13
post #3

Cool. I really liked the idea of Stellar, but I just cant get over the premined coin distribution. Nice to have a truly decentralized alternative!

What do you like about Stellar? It's not decentralized at all. Being premined is just the icing on the cake.

Re: Show HN: My experimental take on a decentralized ledger

#14
post #9

> Transactions are FREE (the fee is always zero) How would you deal with DDoS attacks? Taking down a ledger like this could be easy...

Cloudflare doesn't have to charge a fee for every http request, although transaction fees do seem like the elegant solution.

Re: Show HN: My experimental take on a decentralized ledger

#15
Needs a brief documentation "how it works" or something... I really don't understand the concept, I'm very familiar with bitcoin and somewhat familiar with ripple/stellar. How is the ledger maintained? How do we form the consensus on the valid ledger? What are the incentives for running nodes? etc.

Re: Show HN: My experimental take on a decentralized ledger

#18
post #3

Cool. I really liked the idea of Stellar, but I just cant get over the premined coin distribution. Nice to have a truly decentralized alternative!

What do you like about Stellar? It's not decentralized at all. Being premined is just the icing on the cake.

Stellar is indeed decentralized but not distributed [1]. What I like about Stellar is the concept of gateways and trust. It adds a whole new dimension for transactions.

[1] http://web.cs.ucla.edu/classes/cs217/Baran64.pdf

Re: Show HN: My experimental take on a decentralized ledger

#20
post #6
post #4

It's interesting that it says that "Warning: Requires Postgres 9.5. You WILL lose sync if you run against an earlier version. YOU HAVE BEEN WARNED." Which PostgreSQL features new in 9.5 are being used that cause that? Or are earlier versions somehow buggy?

I'm using upserts... The reason I'm using upserts is basically just lazyness because I didn't feel like refactoring the source code to work around requiring upserts. Also, I'm not very confident in C++ so I did not want to take on that task.

You can fix this with basic SQL

IF record EXISTS then UPDATE else INSERT

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