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Topics - sparkles

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General Discussion / NeuCoin Inspired Ideas
« on: April 16, 2015, 04:59:49 am »
The recent posts about NeuCoin and its staking schedule gave me an idea that could help BTS or a BTS competitor. 

NeuCoin is promoting the fact that the company behind it owns 2.5 billion coins that are locked away for 5 years.
NeuCoin is promoting the fact that "staked coins" which are locked up and do not move will dramatically inflate the supply diluting the unstaked coins.

It occurred to me that these are both desirable properties because it encourages people to keep funds in the system and rewards those who hold long term relative to those who hold short term.   The 2.5 billion coins that are locked away for 5 years provide a big incentive for the backing company to make it successful and enables them to raise capital.  These coins are not a threat because most coins are either successful in 5 years or worthless. 

What if a new chain were to share drop 100% on BTS, but only 10% of the share drop was liquid and the other 90% was locked up for 5 years.   Anyone could unlock their remaining 90% for a fee based upon how long they held it.   Suppose you held it for 1 year, you could unlock 20% and pay an 80% fee.   If you held it for 4 years then you could get 80% and pay a 20% fee.   

Under this system no stakeholder would be diluted and the chain would be a 100% share drop.  If everyone held for 5 years then there would be no change in ownership.  Someone looking to cash out early would face less sell pressure (because more people have incentive to hold) and the result would be they would get a better price, but they would be selling a smaller percent of the DAC than if they had waited.   

The question is, should Sparkle (to be launched once BTS hits 1.0) use this approach and would it be considered a 100% share drop?   

The bigger question is what if BTS did the same thing.  At an appointed block issue EVERYONE 9x their current balance in a balance that they can only claim in full if they hold for 5 years.     Those looking to sell BTS after the appointed block would have to ask themselves whether the value of  1% of the new shares today is worth more than 100% of the new shares in 5 years.   2 years from now they would be asking if 40% today is worth more than 100% in 3 years.   Would this be considered an unfair "dilution" or would this be to the benefit of all shareholders who are "long term oriented"?   

In some ways this would be like sucking 90% of the liquidity from existing stakeholders and selling it off at a profit to those who willingly gave up their liquidity. 

I don't think BTS could handle such a change, but I think it is something that new chains may want to consider.

Meta / Unable to Access My Messages [5]
« on: December 19, 2014, 12:44:35 am »
I have 5 messages but get a database error when I attempt to read them.   Anyone else having this issue?

General Discussion / Making Proof of Work as Predictable as DPOS
« on: November 29, 2014, 05:17:30 pm »
So it has been really bugging me that Sparkle lacks the nice predictable block times that DPOS provides so I set out to design a better approach to proof of work.

Imagine if you will that miners don't create a block at the same time that they find a hash.  Imagine instead that every time a miner produces a hash they get put in a queue to sign a block.   Now imagine this queue is processed every 10 seconds just like DPOS.   It would be like a buffered video stream.

If the queue length is less than X blocks difficulty decreases, if it is more than X blocks difficulty increases. 

So now you end up with two "chains" the proof of work chain to determine the signers and the transaction chain that executes every 10 seconds exactly.  The proof of work chain would have to reference the head of the transaction chain and thus support and confirm the transaction history.   

The issue becomes what new attacks can be executed:

1) a bad miner (who is anonymous) could easily sign many different blocks when their turn shows up.
2) a bad miner would know in advance when they have a run of blocks
3) what would a good "confirmation time" be? 

We can mitigate the first attack by having their mining reward vest for X blocks and allow any crypto graphic proof to the contrary to deny their pay.

Just a wild idea :)  Perhaps too complex and untested and Sparkle should simply stick with what is known.

General Discussion / Marketing Help - How Should we get the Word Out?
« on: November 28, 2014, 10:58:55 pm »
It is clear that the announcements on this forum and bitcointalk have not informed many people.   What is the best way to bootstrap awareness of Sparkle?

I have started a test network and will honor all blocks produced in the genesis of the real network.

Download the client...  to enable mining go to console and type"

"wallet_enable_mining account_to_mine_with true"

Once you have enough connections your computer will start mining.

As Bytemaster suggested I will honor all mined blocks from the test network in the real network genesis block.

General Discussion / Sparkle Snapshot Date Announcement - December 14th
« on: November 28, 2014, 05:49:56 pm »
I will do the snapshot on December 14th, the anniversary of the American Revolution:

The first military encounter of the American Revolution occurred, when on the report of news carried by Paul Revere that the British intended to station a garrison at Portsmouth, New Hampshire; Major John Sullivan led a band of militia to Fort William and Mary, broke into its arsenal, and carried off arms and ammunition, 1774

This applies for BTS and PTS.   I will only use the PTS snapshot *IF* someone from the PTS community can produce it for me by December 16.  I will take the BTS snapshot.  BitAssets will not be honored, shorts will gain 2x and this is intentional because I want to reward those most heavily invested in BTS.

This will be the LAST block produced on December 14th UTC.   I will not ask any exchanges to honor the snapshot and will ask everyone who wants to participate in it to remove it from the exchanges.  In fact I will go so far as to declare that the exchanges OWN the snapshot of funds deposited in them as an incentive for them to list Sparkle and to reward them for supporting the BitShares ecosystem.

Lets make life easy on the exchanges and NOT ask them to honor this snapshot, but DO ask them to list it after we launch.   

General Discussion / First Test Net Release
« on: November 26, 2014, 10:47:47 pm »

No seed nodes right now, so you will have to manually add nodes once someone has a public IP/port.

General Discussion / [ANN][SPK] Sparkle - BitcoinTalk Announcement Thread
« on: November 26, 2014, 09:14:11 pm »

Give it some love and show your support as BTS holders benefit from any publicity produced by Sparkle and have a stake in the system.

Marketplace / $1000 in BTC for Sparkle Wallet Theme
« on: November 25, 2014, 02:38:59 pm »
I am looking for a graphics designer who can produce the following:

1) A Sparkle Logo
2) A Sparkle Splashscreen
3) A Sparkle Icon
4) Update the BitShares web_wallet to use the new logos.


General Discussion / Sparkle - Because real money sparkles!
« on: November 23, 2014, 09:22:18 pm »
Sparkle combines the features of BitShares with the consensus of Proof of Work and is targeted at those who don't trust anything other than proof of work. 

All of the "Bitcoin 2.0" block chains are based upon proof of stake or are hobbled by Bitcoin's slow transaction times.   As a result there exists an opening in the market for a next generation system built on top of proof of work.   I recognize that in the BitShares community POW means Proof of Waste, but if you review comments from Bitcointalk and around the web there must be 10's of thousands of proof of work die-hards that are looking for a system they can trust.

Sparkle is attempting to mirror all of the benefits of BitShares while using Proof of Work for its security model.   This will give Sparkle the advantage of allowing many people to try BitShare's unique features for the first time.   

Sparkle is fully honoring AGS/PTS in recognition of their support and belief in many 3rd party DACs.   BitShares will not be honored because of their view of everything else as competition.   

I have been refining the specs a bit since my first post.

0) Spark (SPK) is the base currency
1) 100 million initial allocation among AGS/PTS
2) 20 second average block times 
3) 100 Sparks per block will be created, 50% paid to miner and 50% divided among elected workers.
4) About ~160 million sparks will be created the first year representing 60% of the total supply, After 2 years 75% of the supply, After 3 years 82%

In this thread I hope to have a fresh start where I am looking for those who would like to help with the project and to provide support.  Right now I am looking for someone to host a seed node and help with graphics.   

I would like permission to keep this single thread in general discussion until the DAC has some momentum of its own.

General Discussion / Introducing Sparkle - BitShares meets Proof of Work.
« on: November 23, 2014, 04:39:39 am »
Sparkle is the first next-generation block chain built around proof-of-work but with all of the latest innovations provided by BitShares, including BitAssets and paid workers.

Sparkle uses the SHA512 hashing algorithm for proof of work and expects to change the proof of work algorithm based upon delegate consensus.     

General Info
  • The unit of account will be the “spark” (SPK)
  • 100 million initial sparks allocated 50/50 AGS/PTS as of November 5th.
  • 1 minute average block times.
  • 101 paid workers elected by the sparklers (aka spark-holders)
  • 50 Spark Mining reward halving every 4 years
  • 50 Spark Worker reward halving every 4 years divided among all workers proportional to their pay rate every block.
  • 100% Transaction fees are paid to miners.

Other than replacing the consensus algorithm with proof of work and tweaking the worker pay Sparkle will continue to evolve to incorporate all of the latest features being produced by the BitShares delegates. 

It is our firm belief that BitShares is a great product but that it is hindered by using an unproven (no offense) consensus system.  By adapting BitShares to Proof of Work we hope to bring BitAssets to the masses and gain wide acceptance among the huge proof of work community.

I cannot post links yet being a new account, but development is underway here:  github /sparkle5/

I am looking for help creating the logo and a web page for Sparkle.   Creating such a page is a great way to get elected as a paid worker.   

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