Does this mean that arbitrary software can be run in "trusted" way? So that everyone knows for sure what software is being run?
Ethereum: A Turing-Complete Cryptocurrency
41–50 of 88 posts
Re: Ethereum: A Turing-Complete Cryptocurrency
#42Earlier quoted context omitted.
The fee goes to the miner who happens to find the containing block, yes. But not to the thousands of validating nodes integral to the network. And over time fees are given proportional to hashpower... which doesn't make any kind of sense. The incentives are all messed up.
There aren't thousands of validating nodes. All nodes are computing on jobs in the system. The incentive is you get paid for processing code for someone. It's a trusted cloud framework with payment built in. The Dagger page is down. That'll have the detail on the rewards details for compute.
Do you have the text for the dagger page?
Re: Ethereum: A Turing-Complete Cryptocurrency
#43Ripple is also working on the same thing and is supposedly releasing them "soon": https://ripple.com/wiki/Contracts
Unfortunately, Ripple is a worst-case example of pre-mining. I would really hate to see it take off.
Re: Ethereum: A Turing-Complete Cryptocurrency
#44Trying to figure out a couple things (from pastebin link): 1. What protection against non-halting? contracts are "funded" upon creation, and by those who issue transactions to the contract. if there are specific fees required by the contract to perform an action, it must be enforced by the contract itself. the cost of computation will eventually exhaust the contract's funding it fails. 2. what are the long-term econo…
>> What protection against non-halting?
The transaction fee is determined based on the number of computational steps in the contract. My understanding is that, if the contract has not halted by the time the transaction fee has been "spent", then the transaction is rejected.
Re: Ethereum: A Turing-Complete Cryptocurrency
#45Trying to figure out a couple things (from pastebin link): 1. What protection against non-halting? contracts are "funded" upon creation, and by those who issue transactions to the contract. if there are specific fees required by the contract to perform an action, it must be enforced by the contract itself. the cost of computation will eventually exhaust the contract's funding it fails. 2. what are the long-term econo…
>> What protection against non-halting? The transaction fee is determined based on the number of computational steps in the contract. My understanding is that, if the contract has not halted by the time the transaction fee has been "spent", then the transaction is rejected.
yeah I came to the same conclusion, except lines 327/328 confuse me a little bit, as to whether the fee goes to the miner in this case, since on 328 (regular termination) it says so explicitly, but on 327 (exhaustion) it doesn't specify.
Re: Ethereum: A Turing-Complete Cryptocurrency
#46Earlier quoted context omitted.
>> What protection against non-halting? The transaction fee is determined based on the number of computational steps in the contract. My understanding is that, if the contract has not halted by the time the transaction fee has been "spent", then the transaction is rejected.
yeah I came to the same conclusion, except lines 327/328 confuse me a little bit, as to whether the fee goes to the miner in this case, since on 328 (regular termination) it says so explicitly, but on 327 (exhaustion) it doesn't specify.
I'm guessing that, if the transaction is rejected, then no fees are awarded -- I could be wrong though.
Re: Ethereum: A Turing-Complete Cryptocurrency
#47Trying to figure out a couple things (from pastebin link): 1. What protection against non-halting? contracts are "funded" upon creation, and by those who issue transactions to the contract. if there are specific fees required by the contract to perform an action, it must be enforced by the contract itself. the cost of computation will eventually exhaust the contract's funding it fails. 2. what are the long-term econo…
I don't think anyone associates ether with a drug first. From Thesaurus: "ether - the fifth and highest element after air and earth and fire and water; was believed to be the substance composing all heavenly bodies"
maybe it's just me and wikipedia.
Re: Ethereum: A Turing-Complete Cryptocurrency
#48Earlier quoted context omitted.
yeah I came to the same conclusion, except lines 327/328 confuse me a little bit, as to whether the fee goes to the miner in this case, since on 328 (regular termination) it says so explicitly, but on 327 (exhaustion) it doesn't specify.
I'm guessing that, if the transaction is rejected, then no fees are awarded -- I could be wrong though.
yeah, I'm thinking that if that is the case, it would allow you to create a "spike" contract, a highly funded contract designed to use a lot of miner resources until it inevitably fails. then you could send out transactions to this contract which would cause it to execute and fuck with all the other miners, where you just ignore it because you know it will fail. Maybe the cost for computation makes this unreasonable though, I don't really have a sense of the cost of computation .
Re: Ethereum: A Turing-Complete Cryptocurrency
#49The site is down for me.