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Author Topic: "Proof of Transaction" consensus debate - 10 million TAU 12 months  (Read 12233 times)

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Offline Kriptolab

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Re: "Proof of Transaction" consensus debate - 10 million TAU 12 months
« Reply #375 about: August 05, 2019, 06:13:41 AM »
Tau is a great concept but right now, it only favours the top 10 miners and their mining power will keep on increasing to an unprecedented level allowing them to control the network in perpetuity. Most of the tau mined are controlled by them because most blocks are mined by them so how can it be of value to others?
There will be no new miners since they will quit after few days of mining for absolutely nothing because they will be competing with almost 0% of success against miners with hundreds of thousands of mining power which almost certainly guarantees them the block. In this case, I wonder how there will be millions of tau coin miners.
Since it is a mobile miner, tau should be rewarded to everyone. But the current scenario is that in order to mine effectively, every miner has to cough up money in order to be able to mine so its not really useful to the majority.
My suggestion is that no matter the mining power of the miner, they should be incentivised for their contribution to the network.
I think you need to take some time and follow up closely each block and the respective miner with regard to their mining power, here are some of the miners which are out of top 10, even out of top 100 am sure and still they managed to mine blocks:

http://tau.taucoin.io/address/TJqycyGbo9G2vECQqAmwRyRWYwz6ANxWvW

Last block ( 19522) miner. Only 1 mining power 😍😍😍
-------------------
http://tau.taucoin.io/address/TMdzPeUyZBcnKEsvnXNcUmEgxTwzo3yUk7

Block 19503 miner. This wallet has 3 mining power 😍😍😍😍😍
-------------------
Block 19736 miner

http://tau.taucoin.io/address/TRXAyKMVNGiuLH7ddmVwT9yVAQ2Zz963vy

Only 13 mining power
-----------------------------
Latest Block 19810 miner

http://tau.taucoin.io/address/TDpdzfJ4QU8DmVg55wdytn8QWmHa6YDhKV

Only 8 mining power 👍

You can see, but bear in mind what has been said my CEO above, its not final, everything will be ok, only we need to bear with them, time will tell if this take is sustainable.
📌Kriptolab📌 
🏆TAU - True Asset Unit || The Decentralized Coin || An Experimental Proof of Transaction Coin On Mobile Mining || POT🏆

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Re: "Proof of Transaction" consensus debate - 10 million TAU 12 months
« Reply #375 about: August 05, 2019, 06:13:41 AM »

Offline Jerome

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Re: "Proof of Transaction" consensus debate - 10 million TAU 12 months
« Reply #376 about: August 05, 2019, 06:46:45 AM »
I think you need to take some time and follow up closely each block and the respective miner with regard to their mining power, here are some of the miners which are out of top 10, even out of top 100 am sure and still they managed to mine blocks:

http://tau.taucoin.io/address/TJqycyGbo9G2vECQqAmwRyRWYwz6ANxWvW

Last block ( 19522) miner. Only 1 mining power 😍😍😍
-------------------
http://tau.taucoin.io/address/TMdzPeUyZBcnKEsvnXNcUmEgxTwzo3yUk7

Block 19503 miner. This wallet has 3 mining power 😍😍😍😍😍
-------------------
Block 19736 miner

http://tau.taucoin.io/address/TRXAyKMVNGiuLH7ddmVwT9yVAQ2Zz963vy

Only 13 mining power
-----------------------------
Latest Block 19810 miner

http://tau.taucoin.io/address/TDpdzfJ4QU8DmVg55wdytn8QWmHa6YDhKV

Only 8 mining power 👍

You can see, but bear in mind what has been said my CEO above, its not final, everything will be ok, only we need to bear with them, time will tell if this take is sustainable.
I can understand this but you are citing examples of few instances out of thousands of miners which to me is not justified.

Offline servokot

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Re: "Proof of Transaction" consensus debate - 10 million TAU 12 months
« Reply #377 about: August 05, 2019, 09:25:44 AM »
Я могу это понять, но вы приводите примеры нескольких примеров из тысяч майнеров, что для меня неоправданно.
Given that the average daily number of miners is about 2 thousand, these examples are quite indicative
« Last Edit: August 05, 2019, 09:31:27 AM by servokot »
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Offline servokot

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Re: "Proof of Transaction" consensus debate - 10 million TAU 12 months
« Reply #378 about: August 05, 2019, 09:28:59 AM »
Where can I read the full technical information on how the TAU network works?
Maybe all the information about the network configuration is stored on a central server with which satellites - wallets on mobile phones are synchronized only with him, and are not related to each other?
Yes, I know that there is Github Tau, but to understand this information, the user needs to know the Java language - maybe there is a simpler description of the network?
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Offline jeff penaflor

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Re: "Proof of Transaction" consensus debate - 10 million TAU 12 months
« Reply #379 about: August 09, 2019, 05:32:09 AM »
is there a plan to have like bootstrap on the verifying files its takes longer for new account to go through the verifying process maybe they can a have downloadable files and put it on the mobile.. its frustrating almost 2-3 days to sync on the node or maybe a more faster way to sync on the blockchain..   

Offline Steven

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Re: "Proof of Transaction" consensus debate - 10 million TAU 12 months
« Reply #380 about: August 09, 2019, 09:54:38 AM »
What is the definitive reason for the change in the divisibility of TAU from 8 decimal to only 2 decimal?

How can TAU chain support branchchain mining using only TAU app?

Where will the "genesis coins" of branch chains be withdrawn from? Is it like the tau, from web wallet?

What is the possibility of TAUchain being attacked by the top10 miners colluding with each other? and what countermeasures does the team have in place ready?

With 1M branch chains in the future, how will TAUCOIN acquire its value separate from each of these coins?

What is the current "listing requirement" the team has set for TAUCOIN to be listed in exchanges?

When will be the last "rearrangement" of TAU sign on bonus and referral bonus and how much will it be?

Offline Kylie

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Re: "Proof of Transaction" consensus debate - 10 million TAU 12 months
« Reply #381 about: August 09, 2019, 10:01:11 AM »
I have downloaded the latest version and it sucks even more. Verifying blocks take more time than usual. It seems like we are on the earliest version back again.
I have also noticed that the website and explorer has improved. With the new explorer and the future changes that can be made, is it safe for me to say that TAUCOIN is creating
a new blockchain ecosystem entirely separate from bitcoin?

Before I finish here, I must not neglect to congratulate the team on almost finishing the basic steps for ipfs tech integration. We are truly hoping for more of it in the future.

Offline servokot

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Re: "Proof of Transaction" consensus debate - 10 million TAU 12 months
« Reply #382 about: August 09, 2019, 10:04:08 AM »
Is the wallet miner application optimized only for new versions of Android?
On a new phone with Android 8, verification takes 2-3 hours, and on an old phone with Android 4, verification takes place already the second day.
A strange limitation is only Android 4.4, on a phone with Android 4.2 it works the same way - a very long verification ...
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Offline Law

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Re: "Proof of Transaction" consensus debate - 10 million TAU 12 months
« Reply #383 about: August 09, 2019, 02:21:01 PM »
The tree
The extreme but likely case is that each person creates their own block chains on
mobile phones with family and friends to be miners to provide computing and security.
How will you verify if the person creates their own block chains on mobile phones not using it for a scam?

Offline Law

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Re: "Proof of Transaction" consensus debate - 10 million TAU 12 months
« Reply #384 about: August 09, 2019, 02:30:30 PM »
I also think a limit on mining power needs to be placed. Some people have huge amount of mining power for example. I have mining power of 200. Another person has mining power of 1. Another person has mining power of 15000. So everyone on the lower end of mining power has a disadvantage as they may not ever see a block reward based on the mining success requirement.

And yes the participation rewards must be scrapped entirely as how can one make half the amount of a block reward?

Offline Cable Media

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Re: "Proof of Transaction" consensus debate - 10 million TAU 12 months
« Reply #385 about: August 09, 2019, 07:51:28 PM »
The top 100 miners dominating the chain is Common problem for most of single blockchain. Less miners means less computing power and nodes engaged. This is a big problem. The reason we adopt the “tree” structure is to enable more miners to mine more coins. Mining is the way to provide computing resources. We hope the “tree” could mobilize more phones to form big computing power.
The main application for these days blockchain start to show on the DEFI - decentral finance. TAU is able to form a large global computer with many miners on branches of the tree, which is eventually a hosting place for global defi innovation.
For verification stuck and heating problem, we are upgrading the code to solve that. The good news is that it is solvable, bad news is it will take time.
For answer Steven’s questions. We are still in the basic code development stage, not plan to increase speed at this moment. However once the tree is there, you can consider the speed is already up 100 times as total system level. It looks the branches will take the social media role to protect the mainchain to avoid the history reorg attack.
The dark mode is a good idea.
In terms of the funding, we are well funded for long time play, not single short rush on marketing and trends following. It tooks us months to think through and making mistakes.
Combining android, ipfs, blockchain and tree all together is not simple and i do not believe many people has this experiences. So we have to learn every day.
Things like incentive for holders and miners are very hard one to think through. Now i believe i am clear that tau is an technology enablement to phones providing blockchain power to global users. If people are buying to this idea, they will stay. If poeple does not , then just leave and they might come back later. This is not excuse for our slow development. But the real chellenges on mobile mining is obvious there, and that is why every other project can not sustain and choose to quit. Tau is the currrent only mobile mining project.
In terms of proof of transactions spam; i always think as long as there is cost in it to avoid sybil attacks, it is still ok.
Still very much thank you all for the debate and please keep on doing this. TAU team will not fail you, we are here and stay very long time.
Well spoken we agree with you

Offline imorpheus

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Re: "Proof of Transaction" consensus debate - 10 million TAU 12 months
« Reply #386 about: August 10, 2019, 11:33:24 AM »
First answer qestions:
The participation reward is removed to simplify the blockchain verification speed, which is on next version. So that the speed will be hugely increase.
The fairness of mining power is depending on how devoted you into tau, it is many years project, first 2 month mining power has nothing to do with the future amount. It is too early to say it will be monopoly.
The top miners collusion is very hard due to they are not able to use any user’s money which is protected by private key. What they are aiming for? It is very little incentive for them to do that. The only case i can think of is the double spending or history attack. Those will be addressed in the future version checkpoints.
The bootstrap stratedy for increaseing the speed is in dev now. Next week,you will see faster version.
Before IPFS is ready, we are using an FTP server for helping exchange blocks information. The FTP server does not do mining, so it is still consider decentral, it is just help exchange blocks information for phones.

- We will delay the tree until IPFS is fully implemented. So for steven, we are not ready for confirm some of your questions. But here is some ideas:  2 decimals is good enough for a 2.1 billion coin system, btc is 21million, so it gets more decimals. We will use mobile app to support branch chains to reduce the tx cost for users. Genesis tx is just normal tx to withdraw from sending address. we will not extract value from branchchains, the only thing charged is the tx fee in the genesis tx, that is for every club easy to access this technology. We donot have plan for exchange at this moment. But we have something better.

We want to make sure as technology venture, we want to solve IPFS problem prior to multiple chain tree. These two features is built on uppon the other, IPFS is coming first priority.

We plan to introduce a new project under TAU , it is a DEFI project called Long Crypto. Here is a summary:
We are enable TAU community to a DAO(decentral autonomous org) managing a DEFI(decentral finance) project “Long Crypto”. Through smart contracts and transparent data, DAO will borrow stable coins. We use stable coins like USDT to buy and hold ETH to achieve long term asset growth. The supplier interests will automatic adjust from 10% - 99% per year. As DAO member, TAU coin holder will get the profit from smart contract and vote just like MakerDAO project DAI.

More detail to provide on website and reddit and medium soon.

iMorpheus
TAU - True Asset Unit - Mobile and Decentral

Offline servokot

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Re: "Proof of Transaction" consensus debate - 10 million TAU 12 months
« Reply #387 about: August 10, 2019, 11:48:13 AM »
More detail to provide on website and reddit and medium soon.
Thank you, we will wait for new great news from the team!
« Last Edit: August 10, 2019, 11:49:44 AM by servokot »
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Offline servokot

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Re: "Proof of Transaction" consensus debate - 10 million TAU 12 months
« Reply #388 about: August 10, 2019, 08:55:06 PM »
Why is the transaction cost constantly increasing?
I see this benefit only for those participants who receive the maximum number of blocks for mining and therefore often sell coins for other participants in P2P groups.
Perhaps they are constantly increasing the maximum fee (which is ultimately calculated by the median), thereby reducing the number of competitors in the struggle for blocks.
The new participant-miner, will not be able to quickly increase his power - for this, every new day, he needs more and more coins that the top miner sells to him.
Interesting game...
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Offline Muxa84

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Re: "Proof of Transaction" consensus debate - 10 million TAU 12 months
« Reply #389 about: August 13, 2019, 10:26:37 PM »
Genesis block started 00:00:00 05/21/2019  now we are ~22500 block, less than 3 months, the blockchain began to weigh 130 mb. A year later, the blockchain will weigh ~520mb. What will happen in 10 years? Okay I have a emulator on the PC, and what will happen to normal users, who use the phone...
If the problem is solved by IPFS, I wonder how much the miner will weigh

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