RaiBlocks: A Feeless Distributed Cryptocurrency Network [pdf]
1–10 of 44 posts
Re: RaiBlocks: A Feeless Distributed Cryptocurrency Network [pdf]
#2I would love to see a balanced discussion of pros and cons of the unusual lattice design used by raiblocks.
Re: RaiBlocks: A Feeless Distributed Cryptocurrency Network [pdf]
#3Can someone help me understand.
If a block chain (or whatever you want to call your token of choice) doesn't have any fees, how is it different from just having a database. No fees mean that every transaction has the same value so there is no transaction prioriization other than time. This seems like a glorified eventually consistent database synchronization algorithm. In a fee based blockchain, I can pay more to get my transactions through before someone else.
Again... I'm not a PHD, nor am I even that smart so can someone break this down.
Re: RaiBlocks: A Feeless Distributed Cryptocurrency Network [pdf]
#4I would love to see a balanced discussion of pros and cons of the unusual lattice design used by raiblocks.
I would too, but this is the Cryptocurrency space; When has anything ever been balanced?
Re: RaiBlocks: A Feeless Distributed Cryptocurrency Network [pdf]
#5Can someone help me understand. If a block chain (or whatever you want to call your token of choice) doesn't have any fees, how is it different from just having a database. No fees mean that every transaction has the same value so there is no transaction prioriization other than time. This seems like a glorified eventually consistent database synchronization algorithm. In a fee based blockchain, I can pay more to get…
The nodes are paid from "created coins", at the expense of everyone diluting. Could call it artificial inflation.
> This seems like a glorified eventually consistent database synchronization algorithm.
To some extend that is what a blockchain is. Also: immutable, no-need-to-trust-every-node, KV, and sometimes with the ability to perform smart contracts.
> In a fee based blockchain, I can pay more to get my transactions through before someone else.
Yes. Either way, as long as you tx comes through "quick enough"... :)
Re: RaiBlocks: A Feeless Distributed Cryptocurrency Network [pdf]
#6Can someone help me understand. If a block chain (or whatever you want to call your token of choice) doesn't have any fees, how is it different from just having a database. No fees mean that every transaction has the same value so there is no transaction prioriization other than time. This seems like a glorified eventually consistent database synchronization algorithm. In a fee based blockchain, I can pay more to get…
> This seems like a glorified eventually consistent database synchronization algorithm.
It is a form of eventually consistent databases. One that also solves the problem of nefarious actors trying to cheat.
Re: RaiBlocks: A Feeless Distributed Cryptocurrency Network [pdf]
#7Glad to see a coin that has it's own codebase (not some fork). And the lattice approach sure is innovative :)
Re: RaiBlocks: A Feeless Distributed Cryptocurrency Network [pdf]
#8I would love to see a balanced discussion of pros and cons of the unusual lattice design used by raiblocks.
I often find myself judging cryptocurrency whitepapers by the number and breath of citations. Has the author's read previous attack papers and developed appropriate countermeasures. How does it compare to other schemes? Are the authors aware of the definitions and methods used in distributed systems?
However this approach should be tempered by the fact that the Bitcoin whitepaper would score poorly on this metric.
Re: RaiBlocks: A Feeless Distributed Cryptocurrency Network [pdf]
#9So - the currency is entirely "mined" and distributed already?
And that period is over? So is a small handful of a few developers/early-adopters that are trying to sell off a currency that they already own in its entirety?
Okay.
Re: RaiBlocks: A Feeless Distributed Cryptocurrency Network [pdf]
#10So - the currency is entirely "mined" and distributed already? And that period is over? So is a small handful of a few developers/early-adopters that are trying to sell off a currency that they already own in its entirety? Okay.
RaiBlocks was distributed using a captcha faucet. https://bitcointalk.org/index.php?topic=1381323.msg14252334#...