Show Posts

This section allows you to view all posts made by this member. Note that you can only see posts made in areas you currently have access to.


Messages - ChuckOneX

Pages: [1]
1
General Discussion / Re: Ethereum & BitShares Partnership?
« on: August 20, 2014, 10:51:45 am »
So as an update on possible collaboration, I think we agreed that keeping things informal is the best way forward at this point. No official partnerships or mergers of any companies or any coins/projects, and it doesn't really make sense to copy-paste codebases in either direction either. But we are happy to participate in standardization efforts and collaborative discussions on technical issues as long as it's an open tent where any crypto-2.0 project can participate. I think there definitely are a few areas (eg. proof of stake algos, client standardization) where that would be quite beneficial.

I could not agree more.

And I am sure that most of the Nxt Community also agrees that standardization efforts might help the crypto ecosystem in general. So, if you feel Nxt should participate in such discussion, feel free to invite us. There will be many people willing to devote their time on this.

I personally feel that this is a very important issue which needs to be considered and addressed by a broader audience.

2
General Discussion / Re: Ethereum & BitShares Partnership?
« on: August 20, 2014, 10:47:28 am »
One of the things we have discussed is lessons learned from Ethereum and BTSX and ways to generalize things better:

1) We agree that smart contracts are useful
2) We agree that smart contracts + BitUSD are very powerful
3) I would like to see a full up relational DB with SQL support as the basic abstraction for the block chain.
    a)  This would allow constraints to be placed on the tables / rows
    c)  This would make indexes easy to maintain
4) I would want to use a lua scripting engine to validate transactions relative to the SQL database
    a) Ethereum currently runs at 1.3 Mhz with their C++ interpreter, storage access via level db is the most expensive operation right now.
    b) I think the data set should be kept in RAM validated by delegates.   Delegates may need $15K servers at scale, but that should be reasonable.
5) One of the major slowdowns for Eth. is the use of merkel trees to support light-weight proofs.  I would do away with this feature.
    a) On a proof of stake chain you cannot validate block headers independent of block contents because you can not use POW as a proxy for trust.
    b) With DPOS + Bonded validation agents you can get cryptographic proofs good enough for light weight clients.  Delegates can lose their job for lying.
    c) Merk. trees help serve as a "double check" on the "deterministic application of transactions", but otherwise are unnecessary.  The check can be performed independent of the consensus algorithm.

As you can see the idea that Eth. represents can benefit significantly by working with our team and we benefit from their challenges as well.   Whether or not Eth. implements DPOS you can bet that V. and I will probably keep pushing the technology forward for future chains.


Interesting that you brought that up. I am not sure much you dug into related work but in Nxt we are actually trying to achieve 3) and 1) with release 1.3 and 1.4. I redirected your thoughts to our developers. Feel free to discuss our implementation at https://nxtforum.org/smart-contracts/

It is also interesting to see how different people get to the same solution to common problems. :)

3
General Discussion / Re: Ethereum & BitShares Partnership?
« on: August 20, 2014, 10:44:29 am »
The main objection and concern I have for Proof-Of-Stake, is that it disallows mining.
It is impossible to mine NXT coin, for example,  if you don't own any.
This blocks the community from growth.

That is not true. You can mine NXTs. Have a look at https://nxtforum.org/nxt-indirect-mining/

Pages: [1]