BitShares Forum
Main => General Discussion => Topic started by: CoinHoarder on November 04, 2014, 07:49:54 am
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I thought you guys might find this interesting.. it seems like an ambitious project.
http://www.zennet.sc/
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BitUSD ought to be marketed to AWS/EC2 as a payment alternative.
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BitUSD ought to be marketed to AWS/EC2 as a payment alternative.
That would be cool.
It seems Zennet is thinking about using DPoS to secure its network. Here's a couple quotes from the developer on Bitcointalk..
The best candidate for now for the coin technology is Delegated Proof of Stake (http://bitshares.org/delegated-proof-of-stake/) by Dan Larimer.
Xennet is a layer on top of the coin layer, which will use a common algorithm such as POW, or maybe Delegated Proof of Stake.
https://bitcointalk.org/index.php?topic=736447.0
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It seems Zennet is thinking about using DPoS to secure its network.
Yep. We should be trying to pull these folks into the fold, instead of having them duplicate all the dpos infrastructure. They could still issue their own assets/tokens if they wanted.
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nice find ..
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This is nice. Because of the potential performance needs, that may need it's own chain. Great candidate for a BTS airdrop!(20%)
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Great use case for marketing delegates:
- Community finds an outreach/marketing/PR opportunity
- Marketing delegate produces an action plan for community review
- Marketing delegate executes
- Community reviews performance
If community is satisfied, delegate remains employed/gets paid.
If community is not satisfied, delegate is replaced.
The potential is mind boggling.
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Very ambitious. Wonder if something like this would create incentive to create a supercomputer to hack things and if it provides more efficient economic model to do such a thing. (the black market)...
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For a certain class of problems this works.... but where it fails:
1) trusting strangers with your data / programs means it will not be usable by industry
2) I doubt it will be more cost effective than centralized alternatives.
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I thought you guys might find this interesting.. it seems like an ambitious project.
zennet.sc/
Thank you very much CoinHoarder !
As you can see it is my first post.
I am myself an AGS holder and as soon as i read your post
i digged deeper in to this ZenNet Project. This thing is just incredible !
Allow me just to post a few links for all,who want to read more about it and they should-
Original Bitcointalk Post: bitcointalk.org/index.php?topic=736447
About ZenNet : zennet.sc/about/index.html
and Whitepaper on Github: github.com/Xennet/xennetdocs
I encourage everyone to read about the Features like ZenTube and ZenFs,it could make
Maidsafecoin obsolete.
I hope very much that we could find a way to complement them with Bitshares,as it
would increase their Value astronomically in my opinion.
Thank you and sorry for my bad englisch.
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If they choose Proof of Work as their algo, it's game over.
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For a certain class of problems this works.... but where it fails:
1) trusting strangers with your data / programs means it will not be usable by industry
2) I doubt it will be more cost effective than centralized alternatives.
Actually the core class of problems this will not help with are those in which the transmission and subdivision overhead of data transfer outweigh the speed benefits of distributed computing. This is the primary problem with distributed computing itself.
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It can work well be projects that benefit from massive parallelism. Stuff like SETI. Projects where the data chunks can be divided into small pieces and don't require real-time results.
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If they choose Proof of Work as their algo, it's game over.
They are currently deciding which consensus algo to use. It seems the lead dev has voiced interest in using it, but that has been met with resistance. I could possibly use a little backup in the thread I posted up-thread defending DPoS and convincing them it is a better choice over PoW.
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For a certain class of problems this works.... but where it fails:
1) trusting strangers with your data / programs means it will not be usable by industry
2) I doubt it will be more cost effective than centralized alternatives.
That's a very narrow-minded view.
1) Data can be anonymized and computation can still be distributed and performed for many of the problems that need it.
2) I'm sure it can compete with Amazon EC2, for which people pay a lot more than the electricity cost.
Other use cases: bootstrapping a test network, experiments in the crypto space - that's huge, if I need real 1000 nodes to test a new algorithm with for a day or two.
EDIT: You can also incentivize and reward nodes to run if your network takes off using this system - it's an alternative to the delegate reward approach.
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An economic power of decentralisation is that it can monetise otherwise idle resources. This is possible in many areas such as storage capacity, housing, computer power, vehicles etc. The economic consequence of this should theoretically be that we make better use of existing capital and costs should come down for everybody. To get there just requires the right technological and behavioural solutions.
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It can work well be projects that benefit from massive parallelism. Stuff like SETI. Projects where the data chunks can be divided into small pieces and don't require real-time results.
Not quite. It works well in projects where the time spent wrangling the data into chunks for each worker is less than the time saved through parallel computation. Size does not matter, only time matters.
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Can someone that fully understands the technicalities of DPoS post in the thread I linked? It seems they are leaning towards PoW... I think it ould be good advertising to get more chains to use DPoS. I can see at least one misconception in their reasoning.. they mention the NaS attack which from what I have read is not possible with DPoS.
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POS through merged mining right?
Well 2 options i see are DPOS or MM POW... and POW is leaned just because of it being time-tested... if bitshares succeeds then DPOS will be an obvious choice but may not be without major convincing from someone like BM, but is it really worth it for him.
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They're having a Google Hangout meeting today to decide the security model:
Because I keep getting asked about the google hangouts plan, I thought about making the google hangouts today, around 21:00 GMT, with Q&A and me answering in video.
Will decide finally according to people's interest.
If you're interested in participating, please post here or on our IRC channel #zennet @freenode.
You can also post questions from now on, to be answered on the hangout.
If there won't be many participants (after all it's a short notice), we'll do it tomorrow or so.
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One thing I don't see is use of GPU processing power.