SKYCOIN SKYCOIN SKYCOIN
What do you think about
Nolan Russell
Jace Hill
SKYCOIN THREADS SHOULD BE BANNED
Sebastian Davis
I think the ledger is maintained by one node running on synth's laptop and he can change every account balance on the network to whatever he wants whenever he wants, because that is what happens without distributed consensus.
Austin Ramirez
No.
That's incorrect, it's not 1 node.
Parker Thompson
Consensus is secured by a masternode system, which is a very reliable solution used by numerous crypto projects. As with all masternode-based crypto platforms, the masternode writes blocks into an immutable ledger which is synchronized with all nodes in the network.
Every Skycoin wallet contains a complete copy of the blockchain. Anyone with a wallet can send a transaction which creates a block that is written to the immutable ledger by the masternode and then synchronized with the thousands of other nodes in the network, creating a distributed consensus as to the state of the blockchain.
Below is the code for Skycoin's blockchain and visor, demonstrating UTXO block verification across the distributed ledger. It shows that the blockchain is distributed throughout nodes that connect to each other in a peer-to-peer fashion.
github.com
github.com
A blockchain is an immutable data structure, and when the blockchains on each node are synchronized, a consensus exists regarding the state of the blockchain. Being an immutable data structure, it is not possible for even a centralized validator node to alter the transaction history without it being very obvious what has occurred.
Even if Obelisk was never released, Skycoin could continue to run quite successfully on this masternode system forever, without negatively impacting Skywire or CX or Skycoin Fiber or any other part of the Skycoin ecosystem. Other major crypto platforms use similar central controllers (for example IOTA).
There is less concern about centralization in the case of Skycoin because there is no mining, no transaction fees, and no block rewards in the protocol. This means that a whole class of 'coin creation' attacks is eliminated. There is no way to create new coins. The worst thing a malicious block signer could do is attempt to slow the system with multiple transactions.
Isaac Fisher
remember he got kidnapped by the chinese mafia lmfao
how do you still hold after that story
Ryan Robinson
Juan Roberts
non-byzantine fault tolerant consensus = trash
Adrian Gomez
What the fuck are you smoking. It already failed with the kidnapping. Fucking idiot.
When one person holds the keys then you just threaten that person. Fuck off scammers.
Logan Price
You seem very triggered by Skycoin. Which project are you involved in, to feel so threatened?
The current consensus mechanism works perfectly well, and will continue to operate until Obelisk is released.