Profits, Performance, Trust & Efficiency

[Schwede65]

Assumptions:
With the shares system we have an easy way to vote on anything.
With the TaPOS system the transaction ledger becomes immutable automatically over time as the ledger is confirmed by everyone on the network.
Generating the next block should be as efficient as possible to maximize dividends.
Transaction validation should be as quick as possible.

Solution:
Shareholders vote (off chain) on a trustee.
Trustee generates blocks every 30 seconds (or at will..... no need to require any particular rate)
If trustee is compromised or shutdown, shareholders can elect a new trustee by broadcasting their vote.
Once a new trustee has 51% of the shareholders support the network continues.

As a trustee you cannot double spend (you will be caught and fired).
As a trustee you cannot perform Denial of Service without being caught and fired.
As a trustee you cannot be coerced without being let go.

As a shareholder this maximizes your value (dividends, transaction speed, no potential of forks).

A trustee is not a paid position and requires almost no resources to run.  A trustee could even operate behind a tor node.

The result is like a 'constitutional company' where the laws are entirely defined in the constitution and the 'president' can be recalled at any time and has almost no power even when in office.

This same process can be used to resolve when a hard fork goes into effect.   

Thoughts?

this "trustee" is only one PC/IP?

why not having more of them and let them - 3, 5, 7 or 9 PCs - work together to share the multiple risks of running only one

as an example: the master-trustee is only doing the sequence of the transactions of the network
this master has to be back-upped by two silent master-trustees - second and third, who are going to work when the first master does not work anymore

after the correct order of the transactions the "slave"-trustees are finishing the transactions by generating the blocks into the chain

[svk]

The benefits do appear to be considerable, but I'm not sure how exactly this is supposed to work. I'm fairly new to all this, but here are some of the questions that come to my mind after reading this:

You say running a "trustee" requires no resources and is a non-paid position, does that mean anyone can do this from their personal computer?

Or will this become a centralized function with only a couple major trustees?

Is the voting something that is done automatically by our respective clients, or manually? If so, how do we determine whether a trustee is honest or not?

One of the things that've attracted me to Bitshares is that you generally explain very clearly what are the incentives for being part of the system, for mining/staking or whatever it is, but here I don't see the incentive for running a trustee besides the obvious "good of the system"..

 

[xeroc]

Shareholders vote (off chain) on a trustee.
If trustee is compromised or shutdown, shareholders can elect a new trustee by broadcasting their vote.

Why offchain? Why not onchain much like memorycoin is doing it?

Once a new trustee has 51% of the shareholders support the network continues.

What if you have 3 parties with ~33% each? What if there is _no_ consensus?

Personally I like the benefits .. but i dislike having one note generating the blocks ..
What about passing the trustee-ticket around after each block .. much like nxt's transparent forging?

The result is like a 'constitutional company' where the laws are entirely defined in the constitution and the 'president' can be recalled at any time and has almost no power even when in office

[bytemaster]

Assumptions:
With the shares system we have an easy way to vote on anything.
With the TaPOS system the transaction ledger becomes immutable automatically over time as the ledger is confirmed by everyone on the network.
Generating the next block should be as efficient as possible to maximize dividends.
Transaction validation should be as quick as possible.

Solution:
Shareholders vote (off chain) on a trustee.
Trustee generates blocks every 30 seconds (or at will..... no need to require any particular rate)
If trustee is compromised or shutdown, shareholders can elect a new trustee by broadcasting their vote.
Once a new trustee has 51% of the shareholders support the network continues.

As a trustee you cannot double spend (you will be caught and fired).
As a trustee you cannot perform Denial of Service without being caught and fired.
As a trustee you cannot be coerced without being let go.

As a shareholder this maximizes your value (dividends, transaction speed, no potential of forks).

A trustee is not a paid position and requires almost no resources to run.  A trustee could even operate behind a tor node.

The result is like a 'constitutional company' where the laws are entirely defined in the constitution and the 'president' can be recalled at any time and has almost no power even when in office.

This same process can be used to resolve when a hard fork goes into effect.   

Thoughts?