Dogecoin hackathon definition
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Most popular debate in bitcoin community is that blockchain do not scale properly. It doesn't scale because every full node has dogecoin hackathon definition verify every transaction. The scaling doesn't really work well because of fixed block time time between two blocks creation.
If there are more and more transaction meaning system grows ; then every single node has to process more transactions in that fixed time. The transactions in Dogecoin hackathon definition are more complicated than Bitcoin.
Though, it hasn't hit it's limit yet community is working on ways to deal with scalability issue. In simple database system, the solution to the problem of scalability is adding servers which can take over the additional transactions and even up the system. Blockchain on the other hand is a distributed database, adding nodes doesn't help here because every node has to process every transaction, so it's not easing the problem. If we decide to distribute the additional transactions to few nodes only; then these nodes may cheat during verification as the transactions are not recorded with other nodes.
Dogecoin hackathon definition, this is against the basic rule of blockchain system trust that every node dogecoin hackathon definition to process every transaction.
Scalability issue in Ethereum is same as that of Bitcoin. The advantage Ethereum has over Bitcoin is that Ethereum team are aware of the issue since begenning and hence are ready for fork to deal with the dogecoin hackathon definition, if needed.
Casper is not just about POS, but also to scale the blockchain. In Casper the scaling is done based on a concept called Shardingwhich is very much similar to concept of distributed database system to deal with scalability. In Sharding, the transactions are sent to certain nodes for verifying but because casper is more secure. Raiden is the Ethereum analogy of Bitcoin's lightning network. In Raiden, the concept is to scale transactions by state channels.
It means by grouping transactions into certain way and then moved to process into a different network off chain.
At the end, multiple similar transactions are grouped and put back on the blockchain network. It simply means, more transactions enclosed into a single extra transaction. TrueBit is the third proposal to deal with the issue. In TrueBit, the concept is to scale computation through interactive verification. Only Casper requires to fork because other two can be directly implemented using smart contract codes. TrueBit uses interactive verification for offloading computations, providing help in scaling and giving a proper incentivisation scheme for doing computationally-intensive work.
The idea is that large computations are proven to be faulty by chopping them up into smaller and smaller pieces until a tiny step remains that can be easily checked by smart contracts. The difficulty lies in motivating Verifiers to watch the process. Verifiers are hard dogecoin hackathon definition reward if they do not find an error and the desired situation is precisely the one where nobody cheats and thus no computation contains an error.
TrueBit introduces an incentive layer that properly rewards verifiers "even" in the case where everyone is honest. In order to participate as solver, they dogecoin hackathon definition to pay deposit. This deposit is slashed if fraud is detected else get rewards. Majority solution is accepted. Any dispute is dogecoin hackathon definition in court blockchain using the Verification Game. Verification game will only be played in case of an attack due to incentives.
This is like blockchain with multiple miners who processes all transactions and verify each other on a blockchain. If there is dogecoin hackathon definition, fork can be done. TrueBit differs with this idea of blockchain as here everyone must be convinced. The computation results can be challenged, starting a "verification game". It helps prevent attack by Single honest verifier suffices that nobody can cheat.
The honest actor will always win this game. Presence of honest verifier is ensured by economic incentives mechanism. But they focus on performing the computations or outsourcing the computation and not on the fact that they are done dogecoin hackathon definition.
Other use blockchain to pay for cloud computation. TrueBit, on the other hand focuses on the correctness and not on the costs. Dogecoin hackathon definition is really about scaling verified computation about what can be done inside the single transaction. The reason why blockchain can't scale computation is because every node has to compute everything. Only few people perform computation off chain, where not everyone has to dogecoin hackathon definition everything.
Dogecoin hackathon definition there is a computational task for the blockchain then people perform the computational task and post the result on the blockchain. Majority answer is considered, but if there is any disagreement then the person can go to court which is actually the blockchain. The smart contract judge of the blockchain court finds out the correct answer without any error. Simple solution here could be that the entire computation should be rerun by the smart contract, but it doesn't scale.
Ethereum has smart contracts, which means computations are running on the blockchains. But they are limited in complexity and resource usage because every full node has to process every transaction and stores all state account balances, contract code and storage, etc. TrueBit provides smart contracts without gas limits.
A contract can be written in any programming language and can be executed on dogecoin hackathon definition with the help of dogecoin hackathon definition interpreter added to the blockchain. It is driven by neural networks and hence we can have AI artificial intelligence on the blockchain with filesystem access to Swarm.
It means that TB sized big files can be accessed and chunk can be read in there. It can even compute the big sums over all the gigantic file. These smart contracts will not run directly on the blockchain, because it doesn't scale but the 'Trust' promise will be the same as on the blockchain.
It can link multiple blockchains. This project tries to create a bridge from Dogecoin to Ethereum and dogecoin hackathon definition way back from Ethereum to Dogecoin.
The basic idea of this project is that one can take Doge currency of Dogecoin and move it around the Ethereum blockchain as an independent token and also move it back by destroying the token and releasing generating a new Doge on Dogecoin. To perform this transaction, we need light client for moving from one network to the other network and dogecoin hackathon definition for destroying token on Ethereum network. Since, it doesn't have gas limit, it can implement anything and verify the code for Dogecoin blockchain on Ethereum.
It can be used to verify Golem computations. Golem is a project to pay for other people to do computations. Its white paper mentions that it is actually too big to verify that their computations are actually correct.
It can also be used for project Livepeer. It is video streaming platform where people are paid to encode the videos. TrueBit can be used to verify that encoding done is correct.
It is a concept used to settle the on-chain disagreement faster. It is done not by sampling but by binary search. Suppose, someone challenger disagrees with the result by another verifier proposer and decides to go to the smart contract judge of the blockchain, then the smart contract judge doesn't check each and every step or random sampling.
It goes by binary search. Here, parties compute Merkle trees of full state memory at every single computation step and submit roots at certain step. Both the parties compute and submit Merkle tree of full state memory at Step 1, Dogecoin hackathon definitionStepStep and so on. After 20 rounds, agreement changes to disagreement in one step Step to Step Both submits the Merkle proof and smart contract verifies re-compute just a single step with no effort and finds the cheater.
It took 20 rounds which is very small in comparison to rounds and hence faster on chain than actually dogecoin hackathon definition all the computation. Cheater is found with certainty. Large disincentive to cheat. The part of deposit is destroyed of the guilty.
The person who identifies it, dogecoin hackathon definition the reward. In reality, the game will never be played because cheater will be found if someone watches.
But it has to be there in code and correct as fallback for this whole mechanism to work. The verification game is well planned and there is very less probability of cheating. Solvers are aware of the mechanism and they would not want to lose their deposit on the blockchain.
Verifiers may stop looking over dogecoin hackathon definition time because the way system works, nobody cheats yet they have to keep looking for the mistakes without any scope of incentive.
This dogecoin hackathon definition be the perfect timing for the solver to cheat and the system will break. To avoid this problem, the proposed solution is Forced Errors.
Concept of Forced Error states that inject the forced error into the system which can then be detected by the verifier and they get the reward. Since, this is dogecoin hackathon definition the actual error so solver is not punished if forced error is found.
The reward received by the verifier is dogecoin hackathon definition by the system. TrueBit system needs fee to solve the task. This fee is paid out in-part to dogecoin hackathon definition who posts dogecoin hackathon definition solution to the task and in-part is saved in an account called jackpot and if set of forced errors occurs and a verifier finds the error then the verifier is paid from the jackpot. A solver is forced to inject an error, so he is aware about the forced error.
If he denies then he will be punished. This condition is verifiable by the smart contract. The reward is for every verifier who detects the error.