61–70 of 263 posts
What stops me from running multiple nodes pointing at the same stored data? Or would that not be beneficial
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BCH solved one of BTC's fatal flaws (transaction rate) but all the other fatal flaws like volatility, irrevocable transactions, being your own bank, etc. are still there.
Hm, but if we solved for those issues, we would probably just have USD. I thought the appeal of a fixed supply, non-double spend asset was to be able to keep up with previously exclusive asset inflation .
Earlier quoted context omitted.
I don’t think I have ever heard of proof of space, is it the same as proof of stake?
They are different. Chia isn't Proof of Stake because how many XCH has no impact on your odds of winning more. https://en.wikipedia.org/wiki/Proof_of_space https://en.wikipedia.org/wiki/Proof_of_stake
To be honest I kind of wish someone would build a proof-of-bandwidth crypto. Miners would overtake data centers with cheap transit, driving the build out of more long-haul network. Some would then move to different neighborhoods just to get FTTH access, enabling more incentive for last-mile build out.
Earlier quoted context omitted.
Completely different things. In Proof of Stake, the network (roughly!) allocates rewards for validating transactions based on the amount of coins you have, i.e., your stake in the network. In Proof of Space, the network allocates rewards based on you proving that you are really storing the data you were supposed to store. If you fail to produce a proof for some data item the network expected you to have stored, you l…
Another important wrinkle is that Chia’s proof-of-space needs you to prove you’ve stored the right cryptographic noise - rather than, for example, any useful data.
It took me a while to actually understand how proof-of-work mining works because seemingly every article one the subject gives too abstract of an explanation. Turns out it's not that complex if you understand what a cryptographic hash is. Just take a block (a list of recent transactions) and take a SHA-256 hash if it over and over with slight variations until you get a hash that starts with enough consecutive zeroes.…
Proof-of-space is essentially stored Proof-of-work. You are pre-filling your drive with many cryptographic hash's. When a challenge comes in the software will do a quick check to see if any of your plots could possibly have a proof (a hash with sufficient zeros for that challenge). If any of your plots pass this filter then the plot is looked up on the HDD to check if it does indeed contain a proof. The difficulty, t…
Folks here might be interested in Chia's smart contract language: https://chialisp.com/ Basically the designers saw how easily many Ethereum/Solidity contracts were hacked and saw that stateful side effects were the main culprit so they made their language have no side effects! Pretty cool.
Yeah, I doubt that
oh great, another item that will be impossible to buy soon thanks, miners the sooner someone introduces the law to ban all proof of work crypto, the better - or at least banning companies from taking or using PoW crypto would be a good start
I hold no Chia or crypto at all, however, from what I am seeing around me, Chia is going to be really, really big.
Why?
To be honest I kind of wish someone would build a proof-of-bandwidth crypto. Miners would overtake data centers with cheap transit, driving the build out of more long-haul network. Some would then move to different neighborhoods just to get FTTH access, enabling more incentive for last-mile build out.
A) Let everyone have their fair share of bandwidth
B) with DPI, choke other miners so I'm relatively better in the whole miners.
Also, bandwidth will be wasted just for the sake of proof-of-work instead of traditional work that have real values on its own.