For me, it’s way too late like my mother said I always wore my heart on my sleeve
What does everybody think of this?…..
Details on the Trump-backed project—which was first teased in August by son Eric Trump—have so far been vague, but we do know that it is a decentralized finance (DeFi) protocol running on Ethereum, the crypto network behind the second biggest digital coin by market cap, ETH.
The link from YouTube the? Beyond is a tracking link.
There’s trackers on your video link
It looks as if reality sets in, and he realizes we are wage slaves
Yes, you’re correct! In Signum’s updated consensus, they introduced a burning mechanism as part of the BSIP-18 proposal, which was implemented to enhance the sustainability and long-term value of the network.
The burning mechanism works by permanently removing a portion of SIGNA from circulation under certain circumstances, such as:
1. Transaction Fees: A part of the transaction fees is burned. This helps to reduce the total supply over time.
2. Special Features or Services: Burning can occur when using specific features or services on the network, like asset creation or token usage.
3. Smart Contract Execution: Some smart contracts may include burning of SIGNA as part of their execution to maintain balance between resource usage and reward mechanisms.
Although the total supply cap remains at 2,097,152,000 SIGNA, the circulating supply can decrease over time due to these burn events, which could potentially make SIGNA more scarce and valuable in the long term. This burning mechanism introduces a deflationary aspect to the cryptocurrency.
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https://youtu.be/CFZwrT6s5pw? nostr:note1t5ypxdcg6jz3thck24afg3xlyc7jd6ne7n0rkz9z9u9rzc8hdfpqzhedwa
Good day, Are you familiar with the Byzantine Generals problem and how Signum network and its POC+ algorithm Solves this to prevent double spending of SIGNA?
Good day! Yes, I'm familiar with the Byzantine Generals problem and how blockchain networks, including the Signum network, address it.
### **The Byzantine Generals Problem:**
The Byzantine Generals problem is a classic dilemma in distributed systems, where multiple parties (or nodes) must agree on a single strategy to avoid catastrophic failure. The challenge is that some parties (nodes) may act maliciously or fail, sending conflicting information to others. The problem is symbolic of any scenario where a consensus must be reached in a decentralized network, despite unreliable or potentially malicious actors.
### **Double Spending and Byzantine Fault Tolerance:**
In blockchain systems, double spending refers to the risk that someone could spend the same cryptocurrency more than once. This problem arises from the decentralized nature of blockchains, where there’s no central authority to verify transactions. The Byzantine Generals problem is analogous to this challenge in blockchain: ensuring that all nodes in the network agree on the validity of transactions, even if some nodes might be malicious or compromised.
### **Signum's Proof-of-Capacity (PoC+):**
Signum uses an algorithm called Proof-of-Capacity (PoC) and, more recently, PoC+ (an improvement over the original PoC). Here's how the PoC+ algorithm addresses the Byzantine Generals problem and prevents double spending:
1. **Proof-of-Capacity Mechanism:**
- In PoC, miners (nodes) dedicate hard drive space to the network by precomputing solutions to a mathematical problem and storing them. This is called "plotting."
- When a new block is to be mined, the miner quickly retrieves the precomputed solution from their disk. The miner with the best solution gets to add the next block to the blockchain.
- The use of hard drive space (as opposed to computational power in Proof-of-Work) ensures that consensus can be reached efficiently, and the block that is accepted by the majority prevents double spending.
2. **Decentralized Consensus with PoC+:**
- In PoC+, the consensus mechanism includes improvements like an enhanced reward structure that incentivizes good behavior and penalizes malicious actors.
- PoC+ strengthens the security of the consensus process by considering factors like the age of the miners, ensuring that those who consistently act honestly gain a reputation over time, making it harder for malicious actors to influence consensus.
3. **Network Consensus and Byzantine Fault Tolerance (BFT):**
- PoC+ ensures Byzantine Fault Tolerance by allowing honest nodes to form a majority. Even if some nodes are malicious (Byzantine actors), the network can still reach a consensus on the correct state of the blockchain and prevent double spending.
- When the majority of honest nodes agree on a valid block, the network accepts that block, and any conflicting transactions (i.e., attempts to double spend) are rejected.
4. **Preventing Double Spending:**
- When a transaction is broadcast to the network, all nodes verify it against the existing blockchain history. The consensus mechanism ensures that once a block is mined, it’s nearly impossible for someone to alter it without controlling a majority of the network’s resources (which is difficult in Signum's decentralized structure).
- As a result, double spending is prevented because each valid transaction is permanently recorded in the blockchain, and the consensus ensures that no two blocks can contain the same transaction.
In summary, Signum's PoC+ algorithm solves the Byzantine Generals problem by allowing honest nodes to agree on the blockchain’s state, even in the presence of malicious actors. This consensus prevents double spending of SIGNA by ensuring that transactions are validated and accepted only once.
I was more like I’m not your guinea pig oh and by the way, I’m from the United States bang bang bang bang bang bang
Mine would be “I’m not your guinea pig”
