BitShares Forum
Main => General Discussion => Topic started by: clemahieu on October 23, 2015, 03:49:31 pm
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I posted a while ago during our beta and since the live network is active I thought some people might be interested in trying it out.
RaiBlocks https://raiblocks.net/ is focused on the currency aspect with instantaneous native transactions and no transaction fees.
Wallets and faucet are provided, go to the Wiki in the Devs section if you want technical details.
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For those that asked we threw together some animations on the confirmation and consensus procedure.
https://github.com/clemahieu/raiblocks/wiki/Double-spending-and-confirmation
Our transaction throughput profiling shows the system roughly at ~700 t/s for generating 1 million transactions in 90 seconds.
Mass activity iteration 983040 us 366046 us/t 1429
Mass activity iteration 987136 us 356276 us/t 1391
Mass activity iteration 991232 us 381316 us/t 1489
Mass activity iteration 995328 us 362204 us/t 1414
Mass activity iteration 999424 us 357342 us/t 1395
real 1m26.899s
user 0m30.368s
sys 0m28.712s
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RaiBlocks Cryptsy voting is up on
https://www.cryptsy.com/coinvotes/ under "RAI"
We have a new client version up 7.1.2 https://github.com/clemahieu/raiblocks/releases/tag/V7.1.2 with some synchronization performance improvements and some minor internal improvements.
If there are any questions I'll definitely answer them.
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Cool
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If there are any questions I'll definitely answer them.
Where do you think RaiBlocks and BitShares can work better together ? :)
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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.
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I think both systems are pretty much compatible.
Happy to hear that :D
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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.
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Are there transactions fees with this system?
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There are no transaction fees, the relevant section is "Block reward incongruent with system’s health".
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What is the anti-spam mechanism/incentive ?
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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.
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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.
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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.
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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.
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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 ?
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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
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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