Forks are just fine, competing networks are fine.
But this network that I have invested in with the plan that it has only one base layer currency, that I own my share of, should not be designed so that it can have many.
Forks are just fine, competing networks are fine.
But this network that I have invested in with the plan that it has only one base layer currency, that I own my share of, should not be designed so that it can have many.
It’s a data type that allows transactions of any digital kind.
I am not sure what that means and hence confusion.
Base level currency etc. is all new terminology. The nodes will request a payment in a currency. That will be what’s coded into them and to start that is the erc20. To change that is no easy task, there has to be a compelling reason. I believe there will be over time. Not now though, not now!!
For nodes to accept multiple currencies there would be hell on earth financial regulations and much more happening
What I have said is we (i.e. humanity, humans etc.) can create a currency with the Transaction data type. So there would be a new currency in the world. Just like a new erc20 or whatever, but this one may be super high speed, concurrent multi billions of transactions per second, but imagine it’s just another erc20 token.
Now what can you do?
I cannot answer that, but if there was a new currency like that, I suspect many projects would be interested in using it, maybe create their own for their own projects, maybe use it directly or whatever, but that’s for folk to innovate. We cannot imagine what they will create.
In my mind I have an approach that I am absolutely and definitely not going to discuss as it will lead to mayhem and the destruction of the universe in some folks eyes
So we can create currencies with the Transaction data type, like we can create erc20 currencies, that’s it! There will be differences in mode of operation and whatnot, but it’s a currency. Not a base or foundation or whatever, just a currency,.
I hope that helps, I know some of this must confuse many folk reading and I am struggling to get the message across and doing a terrible job at it I think.
Does it cost native tokens to use those currencies?
It would do if on this network, Transactions are a data type. Now there is a whole can of worms we could open here, but let’s not.
Not much has been said about the supply being halved.
Are you able to shed some light on the thinking yet?
Also related to the above, will all of the coins be created at once? And if so where will they be stored and how will those coins not allocated to EMAID/Omni holders, shareholders in Maidsafe etc be circulated?
We are gonna do a full write-up on that wit all the detail you’re desiring, so will save it for that, but in short it’s to give a lot more confidence around the emissions, and not having the 70% overhanging the economy, or with the foundation. It’s that emissions pool getting sliced down to a fraction of its size.
All else is unaffected. Idea is to leave no unanswerd Qs on the economy, nor kick cans down the road any longer.
I am not sure I can right now. @JimCollinson is working on the details there, but I am not sure it makes too much difference, except positively for holders and shareholders. There is a drive to make some changes I really like, but not public yet, so I cannot really say, but I think if we can remove anything that is friction then we should. Part of the background work is in this area and with some sign off etc. I think it will be really good and very positive.
There a politician answer, we need more of them
I think you just answered my question above
Excuse the crudeness of this image but is it something like this what you mean because I am confused myself now (it doesn’t take much I know)
Sorta kinda, I think we should all forget designing new currencies. It will need to be a tutorial I think. There is so much to it a folk seem to imagine ways any new currency will steal their shareholding and so on.
So best to forget it for now I think an imagine the transaction type is good for exchanging digital “stuff” like NFT’s or something obscure.
I love money as a way to trade services and labour, but it’s too hard to design financial systems in these threads. I am up for creating an ideas set of threads for this as we go along, but look at this thread and the amount of confusion and also accusations, just when anything to do with money is mentioned. It’s beyond insanity how folk react, but it’s all just logic and data, nobodies trying to steal, but you would think so in some comments
Anyway, let me write something up, but please let’s not take this tangent and distract launch with talk of new currency, (even though it’s possible and I feel very excited to have transactions).
Otherwise we will all get confused. So let me get something together when I get a chance and try and make it clear to folk with examples and so on,.
Looking forward to it. Please keep it simple like a sharpie on an envelope
Bux gave me thumbs up when replied, no need to create more inflation than needed.
David, never ever thought I would be saying this…
prickteaser
Congratulations I was waiting on someone to make a diagram cos all the tens of thousands of words over the past few days have left me bewildered and befuddled.
I started off with betrayed and bereft and then threatened to be silent.
Now beginning to see a little through the clouds of dust and less despondent.
Now away and do that diagram again and use your best crayons cos Southside needs visuals to get his head round this.
Nah, we are all confused already.
But there is hope on the horizon. There are reports of a diagram been spotted in the Liverpool area…
OK, so do I get it right in this way:
Data, regardless of the data type, is always paid with the currency of the network, be it ERC-20 or NATIVE.
Node only accepts the ERC-20 or NATIVE tokens as a payment for any data, including transaction data type.
There are no intentions by Maidsafe to develope the network towards such a nodes, that could accept any other currencies than ERC-20 or NATIVE tokens as a payment for data.
I truly am sorry for being such a pain, and I hope you can bear with me.
But it will be there, and will be required. This is a big problem, until you can earn it by just running a node.
Interesting, might be a good compromise but…
Initially, the network operates with its proof-of-stake consensus as a federated EVM sidechain with 15 whitelisted members, although the ultimate goal is to have a fully permissionless and decentralized node set. Think 10,000 full nodes operating in groups of 100 per multisig.
Sounds like it’s currently still far from decentralised and still no mainnet.
On the other hand Taproot assets are available on Mainnet.
Yes that’s it