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Offline santaclause102

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Proof of stake and Bitshares distribution
« on: February 12, 2014, 11:52:13 AM »

Given decentralized distribution is a crucial factor for a POS system to be secure:

How is it made sure that bitshares is distributed enough (no too big players or groups of players have too much stake) and that the user base is wide enough?
What could be measures to (further) improve on this?
And most important: How can the distribution be measured?

Also flat distribution and a wide user base are quality attributes to any DAC / crypto currency apart from security reasons because it will be perceived as more fair.

Offline bytemaster

Re: Proof of stake and Bitshares distribution
« Reply #1 on: February 12, 2014, 06:59:36 PM »
Given decentralized distribution is a crucial factor for a POS system to be secure:

How is it made sure that bitshares is distributed enough (no too big players or groups of players have too much stake) and that the user base is wide enough?
What could be measures to (further) improve on this?
And most important: How can the distribution be measured?

Also flat distribution and a wide user base are quality attributes to any DAC / crypto currency apart from security reasons because it will be perceived as more fair.

Fairness is defined by equal opportunity and in the case of BTS we have 50% distributed "fairly" by CPU mining.  With AGS everyone has equal opportunity whether they have $1 per day to contribute or more.   Large investors are forced to dollar cost average their investment which gives smaller investors equal opportunity to get a stake.

I cannot think of a more fair distribution model.   Especially as the distribution occurred long before the product was on the market and thus anyone with some knowledge could get in.

As far as the largest share holders... I know one guy has been contributing an average of 10 BTC per day to the AGS address, which means he has about 20% of the AGS right now or 10% of the BitShares.   

The PTS Angel Address has about 10% of the PTS or 5% of the BitShares.

As far as I know these are the two largest positions. 
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline santaclause102

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Re: Proof of stake and Bitshares distribution
« Reply #2 on: February 14, 2014, 04:53:00 AM »
Equal opportunity is one perception of fairness. Others might feel different. There is not right or wrong. The average perception counts.
Also BTS critics will instrumentally use everything against bitshares, including a different perception of fair...

But of course there are limitations the fair distribution. I agree. Just not sure whether there are ways to make it better.

There was equal opoprtunity with nxt and the small group of whales is their biggest problem right now (no technical one).

The other thing is that if there is a way to proof that not too much is owned by a relatively small group the market gets more confident that a cartel and a 51% percent attack will be very unlikely. Is a proof possible?

How many % in stake woult it need for an attack with TaPOS?

And another small question which doesnt fit in here but I never found an answer to: How long is the block creation / transaction processing time? (relevant for much fast can I make a bet)
« Last Edit: February 14, 2014, 04:54:59 AM by delulo »

Offline bytemaster

Re: Proof of stake and Bitshares distribution
« Reply #3 on: February 14, 2014, 07:31:39 AM »
5 minute blocks. 

There will be more unique owners in our genesis block than any other system out there.   And as far as I know no one with more than 10%
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

 

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