it will harm the network as said earlier in the video. since you have a lot of stake you won't want to harm the network. i think for each of the 3 slot machine steps it will take a longer time and degrade the network
4:13 "Supermajority vote of the committee is reached for a proposal, it is considered the block ('s proposal) to be **VERIFIED**". Not certified. So "verification" is the committee casting the proposal's validity votes (running the proposal's proof and the proposer's public key over a VRF), and certification is the (newly selected) committee casting finality votes over the already verified proposal.
that´s correct they misspeled certified for verified! The newly selected committe in the final round is the one that certifies the block and propagates it to the network! You are correct
I think they're not where they even want to be yet but are heading in the very right direction. I got a few to hold, settling in for the long run. This isn't designed to be so volatile and fluctuate like a lot of other currencies, this just steadily goes up over time as more people use it. It's probably one of the safest currencies I've seen yet. The rewards gained from holding is an awesome mechanic, and I believe being inspired to hold instead of treating it like other volatile coins is what will ensure its easy adoption ability. If you look at a few prediction algorithms this is predicted to be around $2.8 USD in 2025. Refer to this tweet from 2019: twitter.com/Melt_Dem/status/1141350640670728192?ref_src=twsrc%5Etfw
@@Lolbboy555 The 66%+ part I think you got from another blockchain, not from algo. The only security is that : it will harm the network as said earlier in the video. since you have a lot of stake you won't want to harm the network. It seems to me the most illogical explanation. The one who wants to be malicious wants to do exactly that, to harm the network. No one owns a copy of the blockchain but everyone does offline wallet checks (this is clear to me as all checking is done on algo servers, so no decentralization). Until someone clearly explains to me how algo really works. I see algo as the biggest scam in the decentralized field. And as far as I can see nobody knows how algo really works.
why would the rich guy spend tons of money on algo to then corrupt the system and devalue the coin he just bought??? Wouldn´t that be kind of stupid??? And if he is chosen once there will be another committie chosen through VRF that will elect a completly diferent group of people that can verify the malicious information he brought to the network
The more you have at stake, the more money you have at risk to lose, so it evens out. A poor person (like myself) wouldn't have much to lose, but I also wouldn't have much to gain by cheating. Whereas, a rich person has so much to lose that they wouldn't want to risk cheating.
I don’t think it matters whether shortest or longest is chosen as a tie braking criteria. It just has to be a fixed criteria that breaks the tie when there are multiple equally valid candidate proofs. They chose shortest but it could have been longest or “whatever-est”, as long as the criteria can unequivocally select exactly one among any arbitrary set of presented candidates.
from developers docs: "Participation in consensus currently does not affect the proportion of rewards an account receives. Rewards are based on the amount of stake an account has, irrespective of whether the account is marked online or offline"
I will need to watch that again.
me too xD
five hundred times
If algorand hits how I think it will I’m tattooing the symbol on me!!
That would be a pretty cool looking tattoo and easy to change into something else if needed!
I think it will bro
That's actually a great idea
By far the coolest representation on the consensus mechanism. 🌱🔝
Hi, I'm curious what is the mechanism/incentive to stop the chosen staker from returning misinformation?
it will harm the network as said earlier in the video. since you have a lot of stake you won't want to harm the network. i think for each of the 3 slot machine steps it will take a longer time and degrade the network
How can I create a node in the algoran network?
I really like this project. Can I come join the algorand team!
What if you get picked to validate? What do you do?
So the block building happens in a wallet? Doesn't seem to have miners
A very good explanation.
4:13 "Supermajority vote of the committee is reached for a proposal, it is considered the block ('s proposal) to be **VERIFIED**". Not certified. So "verification" is the committee casting the proposal's validity votes (running the proposal's proof and the proposer's public key over a VRF), and certification is the (newly selected) committee casting finality votes over the already verified proposal.
that´s correct they misspeled certified for verified! The newly selected committe in the final round is the one that certifies the block and propagates it to the network! You are correct
$ALGO has been top gainers and weekly star on MXC Exchange. I'm thinking of stacking more.
I think they're not where they even want to be yet but are heading in the very right direction. I got a few to hold, settling in for the long run. This isn't designed to be so volatile and fluctuate like a lot of other currencies, this just steadily goes up over time as more people use it. It's probably one of the safest currencies I've seen yet. The rewards gained from holding is an awesome mechanic, and I believe being inspired to hold instead of treating it like other volatile coins is what will ensure its easy adoption ability. If you look at a few prediction algorithms this is predicted to be around $2.8 USD in 2025. Refer to this tweet from 2019: twitter.com/Melt_Dem/status/1141350640670728192?ref_src=twsrc%5Etfw
Silvio Micali nr. 1! 😊
What if the rich guy is malicious? VRN includes the rich guys with higher chance, you said
@@Lolbboy555
The 66%+ part I think you got from another blockchain, not from algo.
The only security is that : it will harm the network as said earlier in the video. since you have a lot of stake you won't want to harm the network.
It seems to me the most illogical explanation. The one who wants to be malicious wants to do exactly that, to harm the network.
No one owns a copy of the blockchain but everyone does offline wallet checks (this is clear to me as all checking is done on algo servers, so no decentralization).
Until someone clearly explains to me how algo really works. I see algo as the biggest scam in the decentralized field. And as far as I can see nobody knows how algo really works.
why would the rich guy spend tons of money on algo to then corrupt the system and devalue the coin he just bought??? Wouldn´t that be kind of stupid??? And if he is chosen once there will be another committie chosen through VRF that will elect a completly diferent group of people that can verify the malicious information he brought to the network
So, basically Algorand doesnt resolved Blockchain Trilemma, since lottery "tickets" are proportional to staked amounties.
Wait, so if more tokens means higher chance and winning lottery, then rich criminals could plot to corrupt so long as they are rich
The more you have at stake, the more money you have at risk to lose, so it evens out. A poor person (like myself) wouldn't have much to lose, but I also wouldn't have much to gain by cheating. Whereas, a rich person has so much to lose that they wouldn't want to risk cheating.
❤❤❤
That pure-proof-of-stake tactic means: The more money you have, the bigger is your profit… Am. I right?
That goes for any proof of stake chain the more you have the more coins you''ll get all comes down to APY
可以有中文版本嗎？
3:40 why will it only keep and propagate the one with the lowest proof? Why not the highest proof?
The only thing i still can't understand about the consensus protocol. What does it even mean to have the lowest proof?
I don’t think it matters whether shortest or longest is chosen as a tie braking criteria. It just has to be a fixed criteria that breaks the tie when there are multiple equally valid candidate proofs. They chose shortest but it could have been longest or “whatever-est”, as long as the criteria can unequivocally select exactly one among any arbitrary set of presented candidates.
daje
Mind. Blown. Still.
Would I get more rewards if I was chosen as the one "who wins the lottery"?
I don't believe you get awarded anything.
from developers docs: "Participation in consensus currently does not affect the proportion of rewards an account receives. Rewards are based on the amount of stake an account has, irrespective of whether the account is marked online or offline"
Proof of Stake is superior to Proof of Work.
Why? Not disagreeing, just wanting to understand
@@cameronhhaskins17 Much more decentralized and requiring little to none computing power
Swag
Como minerar?
Seems like Algorand stops in 2030 once the coin cap is hit
That’s when it goes to the moon.
algo foundation team & community are weak algo inc needs a better partner team
Algorand stole funds from me . I bought some on blockchain and it pended for 5 days now it’s gone
Deal with blockchain its not algorand's fault
So algorand didn't steal funds from you lol. You sure you sent it too the right wallet that supports Algo?
Not Algorand , the exchange or you messed up.