[ANN] Blacknet BLN | Staking | Future of zApp & ZeFi

[rat4]

Notice how ComputeNextStakeModifier typically includes PoW blocks; you can visualise this if you turn on the debug flags.

By the way, comment in code says it should favor PoS blocks  

kernel.cpp:

Code:

        // the selection hash is divided by 2**32 so that proof-of-stake block
        // is always favored over proof-of-work block. this is to preserve
        // the energy efficiency property

What could happen when you don't include PoW blocks and you're only using entropy bits from PoS blocks (GetStakeEntropyBit() from main.cpp)?  Especially if you're producing most of the previous PoS blocks?

If attakers are producing most of blocks they can double spend and so on. If not then chanches to influence to the modifier are too low.

I don't think there's any easy fix not including PoW, and if you make the chain completely PoS you run into the forking issue (that miners can mine both forks of a chain easily and without consequence, so when forks are started they continue to propagate forever).

Nodes do not propagate double stakes.

Okay; how do you select which chain is the correct one?

The longest in terms of cumulative difficulty.

[yannis7777]

BTW guys mint have come up with a beautiful logo. We will need something distinctive and competitive. Just my two mBC. 

[tacotime]

What could happen when you don't include PoW blocks and you're only using entropy bits from PoS blocks (GetStakeEntropyBit() from main.cpp)?  Especially if you're producing most of the previous PoS blocks?

If attakers are producing most of blocks they can double spend and so on. If not then chanches to influence to the modifier are too low.

Unless the attackers start with a small percentage of stake and then progressively begin to burn more of it.

By the way, comment in code says it should favor PoS blocks  

kernel.cpp:

Code:

        // the selection hash is divided by 2**32 so that proof-of-stake block
        // is always favored over proof-of-work block. this is to preserve
        // the energy efficiency property

Yes, but no where does it say to completely remove PoW.

Okay; how do you select which chain is the correct one?

The longest in terms of cumulative difficulty.

You see no issue with this at all?  What would happen to Bitcoin if the cost of generating PoW blocks was negligible and an orphan was generated?

[colinfx]

There's a big pump tonight coming up on MintPal, let's hope it isn't BlackCoin, it just gives a coin a bad rep.

[brightlight]

people, who sold recently, are trying to buy back

[colinfx]

people, who sold recently, are trying to buy back

Yup, looks like it. Price just isn't coming down. Anyone reading this thread would have known this would happen!



You'd have to be blind not to be able to see these support areas.

[brightlight]

people, who sold recently, are trying to buy back

Yup, looks like it. Price just isn't coming down. Anyone reading this thread would have known this would happen!

For a moment I regret not selling in a hype, but now am happy that I was strong and kept coins in garage.

[blade87]

people, who sold recently, are trying to buy back

This works well for coins that have a constant generation through PoW and mine + dump. But with BC you're in 100% competition with others trying to do the same. It's a risk because at some point the coins just might not be there for anyone to rebuy. So you'll end with cases of "bought at 500, sold at 1000, rebought at 1200" much more frequently than with the traditional PoW alts.

[colinfx]

people, who sold recently, are trying to buy back

This works well for coins that have a constant generation through PoW and mine + dump. But with BC you're in 100% competition with others trying to do the same. It's a risk because at some point the coins just might not be there for anyone to rebuy. So you'll end with cases of "bought at 500, sold at 1000, rebought at 1200" much more frequently than with the traditional PoW alts.

+1

You explained that so much easier than I could!!!

[colinfx]

people, who sold recently, are trying to buy back

Yup, looks like it. Price just isn't coming down. Anyone reading this thread would have known this would happen!



You'd have to be blind not to be able to see these support areas.

Each leg up is one-way - there is no coin inflation!

[MuffinMaster]

people, who sold recently, are trying to buy back

This works well for coins that have a constant generation through PoW and mine + dump. But with BC you're in 100% competition with others trying to do the same. It's a risk because at some point the coins just might not be there for anyone to rebuy. So you'll end with cases of "bought at 500, sold at 1000, rebought at 1200" much more frequently than with the traditional PoW alts.

+1

You explained that so much easier than I could!!!

someone thought they could drive the price down and get in cheaper, I don't think it worked out for them.

[jacek1973]

bought for 1000 sold for 1095
I bought for 910 sold for 1150
today a good day

[brightlight]

people, who sold recently, are trying to buy back

This works well for coins that have a constant generation through PoW and mine + dump. But with BC you're in 100% competition with others trying to do the same. It's a risk because at some point the coins just might not be there for anyone to rebuy. So you'll end with cases of "bought at 500, sold at 1000, rebought at 1200" much more frequently than with the traditional PoW alts.

+1

You explained that so much easier than I could!!!

As I always think... One bird in hand is worth two in the bush

[brightlight]

bought for 1000 sold for 1095
I bought for 910 sold for 1150
today a good day

You are lucky trader. Not everyone is ready for risk. I have lost much on other coins, so I switched to long term investment. Today I was lucky accidentally to earn 3k, but it was more a risky fun that I took by myself

[CoinBitch]

Status: conflicted
Date: 2014/3/12 Wednesday 10:54
Debit: 0.00 BC
Net amount: -32512.24186592 BC
Transaction ID: 645391e76684a2d87999880f0b66f2bd7fb769fd3ce9ab32fbce3279ef1963bc

Hi, I changed to newest wallet, but the mined 1.68460715 BC became conflicted, what's the problem?

you solved this problem?

[brightlight]

Let's hit 2000 tonight!

It's up to all those, who are involved in market with their coins. Let's not to over pump the coin. It's is better to establish new resistance level, for example at 1200 or 1300.

[colinfx]

Let's hit 2000 tonight!

I could imagine a spike to 2000 but next support floor might be 1500 area.

[brightlight]

Let's hit 2000 tonight!

I could imagine a spike to 2000 but next support floor might be 1500 area.

+1 in a very optimistic insight

[rat4]

What could happen when you don't include PoW blocks and you're only using entropy bits from PoS blocks (GetStakeEntropyBit() from main.cpp)?  Especially if you're producing most of the previous PoS blocks?

If attakers are producing most of blocks they can double spend and so on. If not then chanches to influence to the modifier are too low.

Unless the attackers start with a small percentage of stake and then progressively begin to burn more of it.

Stake modifier does not give direct advantage unless you know a vuln in sha256(sha256())
(Indirect one is that you can start precomputation earlier)

Okay; how do you select which chain is the correct one?

The longest in terms of cumulative difficulty.

You see no issue with this at all?  What would happen to Bitcoin if the cost of generating PoW blocks was negligible and an orphan was generated?

Which aspect of orphans worries you?

[brightlight]

44th place at coinmarketcap.com. Niiiiiice!