Good on you @SarahPentland for reaching out to a pretty popular youtuber! CryptoLark is a lot of people’s first stop into the crypto sphere, excellent work and looking forward to it.
Hoping we see the Safecoin video at DevCon
I’m not so sure about huge project updates from Maidsafe at DevCon, I feel like that would have been too hard to predict but DevCon is going to be sweet!!! Bravo @maidsafe!
This is excellent news! Can’t wait for this interview to drop. I also really enjoyed listening to Nick’s interview with Ernest Hancock.
Marketing racing full speed ahead, DevCon around the corner, the SAFEnetwork coming together full throttle—there are just too many things to be excited about right now! It’s like watching an epic painting coming together.
I haven’t read it yet but I guess it’s an excellent update as usual. So, thanks for this great update!
I promised to make a graphic for this update but due to personal issues I can’t. I’ll probably have a lot of not too fun stuff to deal with in the next couple of weeks, so I’ll put my creativity for this forum on ice for a little while
Thanks for the JAMS shout out @SarahPentland. At this point I would only describe it as a music player but things will be expanding in relatively short order. Great interview! Keep em coming if and when you can.
I’m wondering based on this video how network spam gets addressed as well. You can add rate-limits sure but what if I want to harness the power of safe coin for say a new secure tx network backed by the safe network that would deal in 10-100’s of thousands of transactions per second against SAFE just using the coin as a currency. I mean this coin is obviously designed as a utility token sure, but if you tell people that it can send/receive for free as well then you certainly will get people wanting to use it like a currency too probably based on the fiat value of the coin in a given second. Simple rate limiting logic can’t compensate for some of these valid use cases. Maybe the simple answer is sorry Jeremy we are going to be a utility token so keep your filthy free loading credit card replacement app off our network lol.
Right, just confirms my point the free nature of transacting safe coin will not make it a viable solution for rapid payments as a crypto currency based on rate limiting implementation. Does not discount you can do a free store of value transfer(The value of the Safe Coins) between friends on small scale though which is nice. I suppose a network could still be made for transacting against safe as a credit card network if I found a huge base of nodes that would basically be slaves under the hood of my theoretical network so I could move safe coin from outside a centralized node and keep it distributed. Talking 10k+ nodes here with distributed safe balances probably and my solution would have each node sending a certain amount of coin to a given node. Would be complicated .
Flow would be like so:
My high tx network -> pick a slave with the balance of coin I need to move to a specific safe address and has a send age older than ___ amount of time -> to the receiver node of the transaction. As long as my safe coin slave army keeps adequate safe balances could be feasible I think.
Depends on what you call fast. It has never been implied that a single person can send 1000’s of coins per second. The transaction rate is limited for you, but if you have 10,000 sections then each section could be doing 100 transactions per second (for 100 people). So any one person sees 1 transaction per second but this smallish network is doing 1 million transactions per second.
If only 10 per second per section then its 100,000 per second. And when the network grows and you have 100’s of thousands of sections then the rate is even faster across the network.
Nice interview with my favortie crypto guy, he is a realy nice guy and helped guide the interview well. There is alittle FUD and Substratum keyborad warriors in the comments. It would be great if some more people could check out the comments and reply and so on. I have been trying my best the last 24 hours and will continue to hold the barricades but a little help would be appreciated. Have a good weekend everybody and hope you all are getting alot of spring time sun.
What’s the problem to use the safe network as rapid payment? The rate limiter runs on the relay node of a particular client but the network does not limit the number of transactions it can perform. In fact, it would be a suicide, from the point of view of the security, that a large company manage the transfers from only one or a few clients. Usually, depending on the size of the company and the number of TPS to reach, hundreds or thousands of clients would be created that would be able to perform hundreds or thousands of TPS.
The only thing that has to be monitored is that the same safecoin is not sent in different transactions at the same time. A standard FIFO algorithm would be enough to achieve this.
Jesus! Masterful, pretty and smart. @SarahPentland definitely has the complete package for interviews. I love the rest of the team but never have they presented the network with such grace or as concisely IMHO. This is the person of great oratory I foresaw coming to present us to the world ( @Zoki is a naturally great orator but possibly inundated) . I could sense the tension in you at the beginning but it’ll soon dissolve. If you stay with us, you WILL be the face of Maidsafe. No doubt.