RaiBlocks coin

[clemahieu]

Version 7.4.0 released featuring deterministic wallets

https://groups.google.com/forum/#!topic/raiblocks/uOG4XNUXsdY

Supply is at 1.772% distributed.

https://raiblocks.net/#/start

[clemahieu]

Yes it's always good to back up your wallet.  More information about backups and restoring are on the wiki https://github.com/clemahieu/raiblocks/wiki/Wallet-Backups

[bitacer]

It is a type of proof of stake but stake is just used for solving forks, not inflating the currency so there's no rich-get-richer issue.

Hey,  do we need to backup raiblocks wallet ?

[clemahieu]

It is a type of proof of stake but stake is just used for solving forks, not inflating the currency so there's no rich-get-richer issue.

[clemahieu]

Hey, good to see you, I think I remember from maybe a year ago?

There's a more detailed specification on the initial distribution here https://github.com/clemahieu/raiblocks/wiki/Distribution-and-Mining but basically 100% of the supply is distributed through the site limited by a captcha.  No portion is reserved for anyone including myself.

You could go to https://raiblocks.net right now under Get Blocks and send some to yourself.

[gamey]

The anti-spam mechanism is a small proof of work attached to each block you sign, around 5 seconds of work, similar to the original hash-cash.

The write up goes over my thoughts of in-block rewards.  If someone wants to make money by speculating on currency appreciation, hold the currency and advocate.  Miners are an unnecessary function of the system so rewarding them is rewarding unnecessary work.

Well I did do a quick read through your paper, but as with most white papers...  people aren't necessarily willing to spend the energy to understand every nuance.  The only reason I skimmed it  is because we've met before where you were discussing your project at meetups. It is cool to see people finish their projects.  That is a rarity. Congrats.

I assume the distribution is all to yourself?  Then you sell/give it to others?  That will make it a bitter pill to swallow as so many will dismiss it as a pure capital grab. (Not making a judgement as to whether doing it is wrong.. )

Why is this better than POS?  That is another thing I didn't immediately grasp.

[clemahieu]

The anti-spam mechanism is a small proof of work attached to each block you sign, around 5 seconds of work, similar to the original hash-cash.

The write up goes over my thoughts of in-block rewards.  If someone wants to make money by speculating on currency appreciation, hold the currency and advocate.  Miners are an unnecessary function of the system so rewarding them is rewarding unnecessary work.

[gamey]

What is the anti-spam mechanism/incentive ? 

[clemahieu]

There are no transaction fees, the relevant section is "Block reward incongruent with system's health".

[gamey]

Are there transactions fees with this system?

[clemahieu]

Version 7.2.0 has been released which has performance and functionality improvements to the RPC system.

We also published a whitepaper for viewing.  https://docs.google.com/document/d/13s6BKzRq9oD5Me55JBRzR7BdvjJ44QKqPu2lf-JsAlU/edit?usp=sharing

Let me know if anything else could be clarified.

[DestBest]

I think both systems are pretty much compatible.

Happy to hear that  :D

[clemahieu]

If there are any questions I'll definitely answer them.

Where do you think RaiBlocks and BitShares can work better together ?  :)

I think both systems are pretty much compatible.  We're focusing on performance of one small aspect, the coin, while BTS is focused on more markets and exchanging.  Use the right tool for the right job I think.

[DestBest]

If there are any questions I'll definitely answer them.

Where do you think RaiBlocks and BitShares can work better together ?  :)

[sittingduck]

Cool