Aral BalkanMay 13, 2021

I wish more people were looking into $NANO not because some dickhead billionaire wrote a tweet but because it actually is a sustainable and useful alternative cryptocurrency.

PS. Here’s a free/open Nano donation component we made for not-for-profits, etc., if you want to accept donations in $NANO: https://github.com/small-tech/svelte-nano-donate

You can see it in action here: https://small-tech.org/demo/svelte-nano-donate/

(Any donations on the demo go to Small Technology Foundation, same as on https://small-tech.org/fund-us)

#Nano

small-tech/svelte-nano-donate

A donation component for the Nano cryptocurrency built using Svelte (which you can use in non-Svelte projects also). - small-tech/svelte-nano-donate

Show threadDeadly HeadshotMay 13, 2021
@aral How can a cryptocurrency be sustainable? Even without the environmental issues, the idea of depreciating returns for mining means eventually there's a point where mining has no (or negligable) returns and thus transactions are no longer processed!
Show threadRyanMay 13, 2021
@aral @dheadshot Mining operations scale up and down with profitability. Fewer mining machines makes blocks easier to mine (difficulty adjusts downwards); so the cost of securing the chain (also cost of *attacking* the chain) falls until it's below income from transaction fees. It's self-balancing, though not by any means stable.
Show threadDeadly HeadshotMay 13, 2021
@ryan @aral But mining is required to process any transactions, so eventually, there can't be transactions as it's not profitable to mine?
Show threadAral BalkanMay 14, 2021
@dheadshot @ryan Not all cryptocurrencies use proof of work mining for global consensus like Bitcoin does. (Nano, for example, doesn’t.)
Show threadDeadly HeadshotMay 14, 2021
@aral @ryan OK, I'm reading about how $NANO works now. First obvious question: does the "Principal Representative" thing in ORV mean that rich accounts have more sway than poorer ones, allowing someone to hijack the network if they have more money?
Show threadDeadly HeadshotMay 14, 2021
@aral @ryan Is 1.15*10^77 max possible transactions (without collisions, assuming a perfect hashing algorithm) going to be enough for the lifetime of the currency?
Show threadDeadly HeadshotMay 14, 2021

@aral @ryan I realise this could be considered spam, but I'm about halfway through the simple version of the Docs and I have more questions:

1) What happens if the representative nominated by an account isn't online at the time of the vote (and neither is the account, so it can't update its representative)?

2) If Account A sends to Account B while B is offline, then goes offline itself, can B accept when it comes online while A is still offline?

Show threadDeadly HeadshotMay 14, 2021

@aral @ryan
3) Won't the PoW be less effective as AntiSpam for fast machines than for slower ones?

4) How does an account know to rebroadcast a transaction that wasn't accepted by some peers that were offline and what if it now isn't online?

5) "Forks in RaiBlocks are never accidental", yet it also says forks can be a result of "poor programming" - how is that not an accident? Does this mean that a piece of software can result in your account no longer being trusted?

Show threadDeadly Headshot
@aral @ryan 6) So a "NANO/Nano" is 10^30 raw, a "nano" is 10^24 raw and a "nnano" or "nanonano" is 10^15 raw... Isn't that a bit confusing?
May 14, 2021 at 2:44pmWeb