How to elect our reputed signers?


#1

Question 1: Can I vote more than 3 signers for Up and down respectively?

Question 2: Can I input any number in “weight” such as 1.53 and 2.06?

Question 3: How many signers do we need to vote? Maximum 15, Minimum 6?


#2

@sigmike , could you answer my questions?

It’s time for us to elect the reputed signers, I know B&C 's future is uncertain, but only in this situation can we know which one has attic faith and which one is just a trader.

Some members disappears, some become silent and return to real world. Some are selling tons of BKS. Some have been driven out of this forum.

Now, it’s time to fight, come back! Show me the shareholders are not cowards. I will never vote for those cowards who are inactive in this period, even B&C eventually die in future, I’ll cast my final vote!!

After some signers elected, they have quite some work, to make decisions for B&C’s development, such as fund holding, crowdfunding(if nessesary), discuss the big direction of B&C.


#3

Yes. Only 3 votes will be included in each block though. They will be chosen randomly according to the weight you provide. The weight itself is not put in the blockchain, it’s only used in the selection process.

It’s described in the design paper and I copied it in the issue where some details were discussed: https://bitbucket.org/JordanLeePeershares/bcexchange/issues/15/reputation-voting

You can choose any integer between 0 and 127. Zero means he’ll never be chosen. Anything else is a weight relative to the others (up and down votes included).

For example if you have an upvote with weight 2 and two downvotes with weight 1, you upvote will be chosen 2 out of 4 times (50%) for each of the 3 reputation votes that you are allowed to include in a block.

There’s not really a “number of signers”. But there is:

  • a number of signers who get a reward. This is voted along with the reward itself. The minimum is 0 and the maximum is very large (32k)
  • and a number of signers required on each asset. The minimum is 1 and the maximum is 255.

The rewarded signers get a reward proportionally to their reputation (although each block only rewards one signer). Some details here: https://bitbucket.org/JordanLeePeershares/bcexchange/issues/16/reputed-signer-reward).

The number of signers required can vary from an asset to another. The signers are chosen from the most reputed ones (who may or may not be rewarded) at the time a deposit address is create (the signers will forever stay the same for this deposit address).


B&C signer voting watch
#4

E.g. LTC asset has 255 reputed signers, and at the time a LTC deposit address is created, how many signers will be chosen and get rewarded eventually?

255? or 15?

BTW, a miner can cast 3 votes at the same time in one block. Why 3 votes? I suggest just one vote per block, this may reduce the block size, and his voting is still proportional to the weight he defined.


#5

@cryptog, @Sentinelrv, @mhps, @masterOfDisaster, @Cybnate, @jooize, @Phoenix @Dhume, @backpacker @Financisto, @crypto_coiner @creon, @Ben and other reputed forum members, let’s vote our reputed signers now.

Anyone wants to be elected can provide his/her BKS address on forum, or you can just vote for yourself.

Although B&C not in operation now, we need a team like FLOT, so I guess the most reputed signers should form a team to hold the development fund.

There are quite a lot NBT in Angela/Jordan’s hands, and it’s time to hand over to the community, we need a transparent developing process.


#6

Will probably publish a proposal in the next few days. Still need to prepare a B&C wallet with addresses and the reputed signer address and setup a ToR config for the client.

BTW Does the reputed signer address used for voting needs a balance as collateral or are we providing the collateral by other means? Couldn’t really grasp that from the white paper. Really hope that I can continue minting with any collateral I need to provided as reputed signer.


#7

I am interested in becoming a reputed signer but i need first to understand the various parameters as well as the meaning of their values.


#8

According to my understanding, there is no need of collateral, natually some voters like those reputed signers with big balance, but it’s not a must.


#9

The client that requests the deposit address will need 255 public keys published from the top 255 signers. If there’s not enough distinct signers who published LTC keys he won’t be able to make that request. If he’s able to make that request the signers will have to generate the multisig address and will probably fail because LTC probably doesn’t support multisig with 255 signers. So the user will never get a deposit address for his request.

So shareholders should be careful when they choose the number of signers for each asset.

The reward is not related to that. Signer reward distribution is only based on the reputation, and not linked to assets or the messages they send.

I don’t know. Probably to allow more precision on small shareholders who can only cast a few votes during the vote duration.

The protocol doesn’t require any balance on the signer’s address.


B&C signer voting watch
#10

Theoretically, can we build multiple rooms for reputed signer? E.g. There are 17 rooms with each room has 15 reputed signers for LTC asset.

Another thing, assume some BKC are generated and ready for sale, who will take the charge of selling BKC? Use Nubot on B&C?


#11

I don’t understand. What is the purpose of these rooms?


#12

To be more decentralized and different rooms compete with each other: lower reputed rooms may have lower fee.

I remember a scene in “prison break” when Michael Scofield hired Roland Glenn to hack the company’s system.

Roland decrypts the data card, but realizes that the information is incomplete. Deducing from an excerpt from The Odyssey left behind by Linc and Michael’s father about a necessary sacrifice of six men by Odysseus to pass the monster Scylla, Michael realizes that Scylla is actually made up of six cards being held by different people. The gang has not completed their mission. They have to now track down the five others.

If the attacker locate our 12 reputed signers one by one…


#13

And I admit the 17 rooms issue is not an emergency because our task is to survive first, but if we can prepare for it so that in future we can easily add Room2 Room3… without much source code modified.

If in future 30 types of cryptos supported on B&C, signers have to sync 30 blockchains which put heavy burden on their hardware and error probability is high. If different rooms have different asset portfolio, issue solved by Room1 has BTC/LTC, Room2 has ETH, DAO, Room3 has XPM/PPC…

Just my two cents, ignore it if you believe it’s unnecessary.


#14

I say we start with something simple and stupid and get a hang of how the software, operation, and economy works.

how about first trading testnet coins so if someone loses 10k coins it;s just a good laugh.


#15

We can limit the quantity of trade in early trade days, even if you lose real 0.01BTC, still a good laugh.