MaidSafe Dev Update - May 24, 2018 - Introducing PARSEC

Yes, it should say “to agree on a state” :slightly_smiling_face: I just updated that part. Thanks for letting us know.

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Yes, big time. There are no known permissionless cryptocurrency networks right now which have achieved byzantine agreement in an asynchronous setting where the consensus is leaderless. If you look at the other papers on this topic in the space right now, they either lack permissionless or use complex mechanisms to get to the same result (Hybrid Consensus) involving other blockchains which can elect the voting committee. This is not just ‘a new invention’, it is the most important invention in the space right now for permissionless imo.

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Well done @maidsafe! This sounds very promising! :slight_smile:

From quickly skimming through the resources provided I understand, that PARSEC is the result of a combination of multiple existing BFT solutions. From my current understanding the major innovation (maybe not the only one) introduced by PARSEC is, that it’s not only fast & reliable, but also works in a (very) asynchronous setup. Is that correct?

I’ve only recently discovered this nice article which compares multiple consensus algorithms in quite non-technical words.

Marketing could contact the authors to write an update in the near future. Until then, can you maybe explain on a high level what the pros & cons of PARSEC are in comparison to existing BFT algorithms and how the asynchronous problem is solved?

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Well there you have it, you have proven me to be a genius for believing in you. :laughing:

Bigger than Alpha 3? Bigger than Blockchain!!!
Magnificent achievement.

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Awesome effort. The @maidsafe team is doing some pretty amazing things. Looking forward to seeing #parsec adoption and recognition for all involved.

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This!
Thank you for this!

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Way to go @maidsafe Team!!! This is phenomenally fantastic news!!! It’s like the discovery of fire in its breadth, significance and impact on how the future will be built. People will write about this day for years to come, and The SAFEnetwork will preserve those records forever. :smile::smile::smile:

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Yes, their assumption is weaker than weakly synchronous but slightly stronger than fully asynchronous where they expect messages to be delivered reliably eventually. It is a result obtained by using similar methodology than HoneyBadger BFT which is a composition of different cryptographic methods in order to reach consensus in a trusted setting. They used the same approach but their implementation is novel in that it applies to the permissionless (not trusted) setting.

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Hey @rand_om or @draw , are you around? I’ll need another slap with a trout, being part of this project when something like this is being just born…not sure I’m awake or just dreaming.

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Congratulations everyone at @MaidSafe. And thank you, it isn’t my birthday yet, but it feels like it should be. A toast to you all :slight_smile: :wine_glass:

And I’m ready for alpha 3 :champagne:

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David, does this mean that routing is ready and we are waiting for other areas (crust etc.) to catch up so that we can get the alfa 3 ready very soon? :wink:

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This is a very happy day and also a little emotional. All of you guy and girls at Maidsafe have all been fighting and working so long for this and all of you truely deserves this success, congratulationions, you are the best team in the world. I’am very happy and humble to be able to watch and follow this amazing achievement and history in the making. I hope, as Nigel also mentioned, that the marketing team goes full out on this one and that it get’s published everywhere to the point that Vitalik spills his morning coffee when he read in the tech news that the world has changed, and that a new major player is born and risen. :slight_smile:

Thanks Maidsafe, Nothing is impossible!!!
maidposs4

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Here you go :wink:

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I agree. This news needs to be on all the main crypto Reddit: cryptotechnology, cryptocurrency, cryptomarkets and bitcointalk, etc. Let’s make a lot of noise, because this is real and massive news that is bigger than anything else in the crypto world at moment!

I am about to do a 5 day trek to Machu Picchu without internet, but I will be back on the case as soon as I can after!

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The parsec (symbol: pc) is a unit of length used to measure large distances to astronomical objects outside the Solar System.

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Here you go :wink:

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Great job! Congratulations to the entire team!

I wish I had more wisdom to add, but all I can offer is cheerleading.

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Has @maidsafe put together a press release? This stuff is all very exciting to those in the know but baffling to the outside world.

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