Aeon (AEON) is a private, secure, untraceable currency. You are your bank, you control your funds, and nobody can trace your transfers.
Disclaimer: This is my editing, so there could be always some misunderstandings and exaggerations, plus many convos are from 'spec channel', so take it with a grain of salt, pls.
+ I added some recent convos afterward. --------------------------------------------------
📷 Luigi Vigneri [IF]어제 오후 8:26 Giving the opportunity to everybody to set up/run nodes is one of IOTA's priority. A minimum amount of resources is obviously required to prevent easy attacks, but we are making sure that being active part of the IOTA network can be possible without crazy investments. we are building our solution in such a way that the protocol is fair and lightweight.
📷 Hans Moog [IF]어제 오후 11:24 IOTA is not "free to use" but it's - fee-less you have tokens? you can send them around for free
📷 Hans Moog [IF]어제 오후 11:25 you have no tokens? you have to pay to use the network
📷 lekanovic어제 오후 11:25 I think it is a smart way to avoid the spamming network problem
📷 Hans Moog [IF]어제 오후 11:26 owning tokens is essentially like owning a share of the actual network and the throughput it can process
📷 Hans Moog [IF]어제 오후 11:26**** if you don't need all of that yourself, you can rent it out to people and earn money
📷 Hans Moog [IF]어제 오후 11:27 mana = tokens * time since you own them simplified
📷 Hans Moog [IF]어제 오후 11:27 the longer you hold your tokens and the more you have, the more mana you have but every now and then you have to move them to "realize" that mana
📷 lekanovic어제 오후 11:28 Is there any other project that is using a Mana solution to the network fee problem ?
📷 Hans Moog [IF]어제 오후 11:28 nah the problem with current protocol is that they are leader based
📷 Hans Moog [IF]어제 오후 11:29 you need absolute consensus on who the current leaders are and what their influence in the network is that's how blockchains works
📷 Hans Moog [IF]어제 오후 11:29 if two block producers produce 2 blocks at the same time, then you have to choose which one wins and where everybody attaches their next block to IOTA works differently and doesn't need to choose a single leader we therefore have a much bigger flexibility of designing our sybil protection mechanisms in a way, mana is also supposed to solve the problem of "rewarding" the infrastructure instead of the validators in blockchain only the miners get all the money running a node and even if it's one that is used by a lot of people will only cost you won't get anything back no fees, nothing the miners get it all
📷 Hans Moog [IF]어제 오후 11:31 in IOTA, the node operators receive the mana which gives them a share of the network throughput
📷 Hans Moog [IF]어제 오후 11:32 because in blockchain you need to decide whose txs become part of the blocks and it's not really based on networking protocols like AIMD
📷 lekanovic어제 오후 11:33 And the more Mana your node have, the more trust your node has and you have more to say in the FPC, is that correct?
📷 Hans Moog [IF]어제 오후 11:33 yeah a node that has processed a lot of txs of its users will have more mana than other nodes and therefore a bigger say in deciding conflicts its a direct measure of "trust" by its users
📷 lekanovic어제 오후 11:34 And choosing committee for dRNG would be done on L1 protocol level? Everything regarding Mana will be L1 level, right?
📷 Hans Moog [IF]어제 오후 11:35 Yeah Mana is layer1, but will also be used as weight in L2 solutions like smart contracts
📷 lekanovic어제 오후 11:35 And you are not dependant on using SC to implement this
📷 Hans Moog [IF]어제 오후 11:35 No, you don't need smart contracts That's all the base layer
📷 Hans Moog [IF]어제 오후 11:37 'Time' actually takes into account things like decay So it doesn't just increase forever It's close to "Demurrage" in monetary theory
📷 lekanovic어제 오후 11:36 For projects to be able to connect to Polkadot or Cosmos, you need to get the state of the ledger. Will it be possible to get the Tangle state? If this would be possible, then I think it would be SUPER good for IOTA
📷 Hans Moog [IF]어제 오후 11:38 Yeah but polkadot is not connecting other dlts Just inhouse stuff
📷 Hyperware어제 오후 11:39 Is there still a cap on mana so that the rich don't get richer?
📷 Hans Moog [IF]어제 오후 11:39 Yes mana is capped
📷 TangleAccountant어제 오후 11:39 u/Hans Moog [IF] My first thought is that the evolution of this renting system will lead to several big mana renting companies that pool together tons of token holders mana. That way businesses looking to rent mana just need to deal with a reliable mana renting company for years instead of a new individual every couple of months (because life happens and you don't know if that individual will need to sell their IOTAs due to personal reasons). Any thoughts on this?
📷 Hans Moog [IF]어제 오후 11:41 u/TangleAccountant yes that is likely - but also not a bad thing - token holders will have a place to get their monthly payout and the companies that want to use the tangle without having tokens have a place to pay
📷 TangleAccountant어제 오후 11:42 Oh I completely agree. That's really cool. I'll take a stab at creating one of those companies in the US.
📷 Hans Moog [IF]어제 오후 11:42 And everybody who wants to run a node themselves or has tokens and wants use the tangle for free can do so But "leachers" that would want to use the network for free won't be able to do so I mean ultimately there will always be "fees", as there is no "free lunch". You have a certain amount of resources that a network can process and you have a certain demand. And that will naturally result in fees based on supply / demand what you can do however is to build a system where the actual users of that system that legitimately want to use it can do so for free, just because they already "invest" enough by having tokens or running infrastructure they are already contributing to the well-being of the network through these two aspects alone it would be stupid to ask those guys for additional fees and mana essentially tries to be such a measure of honesty among the users
📷 Hyperware어제 오후 11:47 It's interesting from an investment perspective that having tokens/mana is like owning a portion of the network.
📷 Hans Moog [IF]어제 오후 11:48 Yeah, you are owning a certain % of the throughput and whatever the price will ultimately be to execute on this network - you will earn proportionally but you have to keep in mind that we are trying to build the most efficient DLT that you could possibly ever build
📷 semibaron어제 오후 11:48 The whole mana (tokens) = share of network throuput sounds very much like EOS tbh Just that EOS uses DPoS
📷 Hans Moog [IF]어제 오후 11:50 yeah i mean there is really not too many new things under the sun - you can just tweak a few things here and there, when it comes to distributing resources DPoS is simply not very nice from a centralization aspect
📷 Hans Moog [IF]어제 오후 11:50 at least not the way EOS does it delegating weights is 1 thing but assuming that the weight will always be in a way that 21 "identities" run the whole network is bad in the current world you see a centralization of power but ultimately we want to build a future where the wealth is more evenly distributed and the same goes for voting power
📷 Hans Moog [IF]어제 오후 11:52 blockchain needs leader selection it only works with such a centralizing component IOTA doesn't need that it's delusional to say that IOTA wouldn't have any such centralization but maybe we get better than just a handselected nodes
📷 Phantom3D어제 오후 11:52 How would this affect a regular hodler without a node. Should i keep my tokens elsewere to generate mana and put the tokens to use?
📷 Hans Moog [IF]어제 오후 11:53 you can do whatever you want with your mana just make an account at a node you regularly use and use it to build up a reputation with that node to be able to use your funds for free or run a node yourself or rent it out to companies if you just hodl
📷 semibaron어제 오후 11:54 Will there be a build-in function into the node software / wallet to delegate ("sell") my mana?
📷 Hans Moog [IF]어제 오후 11:55 u/semibaron not from the start - that would happen on a 2nd layer
📷 dom어제 오후 9:49
suddenly be incentive to hold iota? to generate Mana
📷 Hyperware오늘 오전 4:21 The only thing I can really do, is believe that the IF have smart answers and are still building the best solutions they can for the sake of the vision
📷 dom오늘 오전 4:43 100% - which is why we're spending so much effort to communicate it more clearly now we'll do an AMA on this topic very soon
📷 M [s2]오늘 오전 4:54 u/dom please accept my question for the AMA: will IOTA remain a permissionless system and if so, how?
📷 dom오늘 오전 4:57 of course it remains permissionless
📷 dom오늘 오전 5:20 what is permissioned about it? is ETH or Bitcoin permissioned because you have to pay a transaction fee in their native token?
📷 Gerrit오늘 오전 5:24 How did your industry partners think about the mana solution and the fact they need to hold the token to ensure network throughput?
📷 dom오늘 오전 5:26 u/Gerrit considering how the infrastructure, legal and regulatory frameworks are improving around the adoption and usage of crypto-currencies within large companies, I really think that we are introducing this concept exactly at the right time. It should make enterprise partners comfortable in using the permissionless network without much of a hurdle. They can always launch their own network if they want to ...
📷 Gerrit오늘 오전 5:27 Launching their own network can’t be what you want
📷 dom오늘 오전 5:27 exactly but that is what's happening with Ethereum and all the other networks they don't hold Ether tokens either.
📷 Gerrit오늘 오전 5:32 Will be very exciting to see if ongoing regulation will „allow“ companies to invest and hold the tokens. With upcoming custody solutions that would be a fantastic play.
📷 Hans Moog [IF]오늘 오전 5:34 It's still possible to send transactions even without mana - mana is only used in times of congestion to give the people that have more mana more priority there will still be sharding to keep the network free most of the time
📷 Hans Moog [IF]오늘 오전 5:35 but without a protection mechanism, somebody could just spam a lot of bullshit and you could break the network(수정됨) you need some form of protection from this
📷 M [s2]오늘 오전 5:36 u/Hans Moog [IF] so when I have 0 Mana, I can still send transactions? This is actually the point where it got strange...
📷 Hans Moog [IF]오늘 오전 5:37 yes you can unless the network is close to its processing capabilities / being attacked by spammers then the nodes will favor the mana holders
📷 Hans Moog [IF]오늘 오전 5:37 but having mana is not a requirement for many years to come currently even people having fpgas can't spam that many tps and we will also have sharding implemented by then
📷 M [s2]오늘 오전 5:39 Thank you u/Hans Moog [IF] ! This is the actually important piece of info!
📷 Basha오늘 오전 5:38 ok, i thought it was communicated that you need at least 1 mana to process a transaction. from the blogpost: "... a node with 0 mana can issue no transactions." maybe they meant during the congestion
**, but if that's the case maybe you should add that**
📷 Hans Moog [IF]오늘 오전 5:42 its under the point "Congestion control:" yeah this only applies to spam attacks network not overloaded = no mana needed
📷 Hans Moog [IF]오늘 오전 5:43 if congested => favor txs from people who have the most skin in the game but sharding will try to keep the network non-congested most of the time - but there might be short periods of time where an attacker might bring the network close to its limits and of course its going to take a while to add this, so we need a protection mechanism till sharding is supported(수정됨)
📷 Hans Moog [IF]오늘 오전 6:36 I don't have a particular problem with EOS or their amount of validators - the reason why I think blockchain is inferior has really nothing to do with the way you do sybil protection and with validators I mean "voting nodes" I mean even bitcoin has less mining pools and you could compare mining pools to dpos in some sense where people assign their weight (in that case hashing power) to the corresponding mining pools so EOS is definitely not less decentralized than any other tech but having more identities having weight in the decision process definitely makes it harder to corrupt a reasonable fraction of the system and makes it easier to shard so its desirable to have this property(수정됨) -------------------------------------------------
📷 Antonio Nardella [IF]오늘 오전 3:36
https://twitter.com/cmcanalytics/status/1310866311929647104?s=19 u/C3PO [92% Cooless] They could also add more git repos instead of the wallet one, and we would probably be #1 there too..
I'm sorry, maybe I'm fueling some confusion through posting this mana-thing too soon,
but, instead of erasing this posting, I'm adding recent convos.
Certain things about mana seem to be not clear, yet.
It would be better to wait for some official clarification.
But, I hope the community gives its full support to IF, 'cause
there could be always some bumps along the untouched, unchartered way.
-------------------------------------------------------------------------------------- Recent Addition;
Billy Sanders [IF]오늘 오후 1:36
It's still possible to send transactions even without mana - mana is only used in times of congestion to give the people that have more mana more priority u/Hans Moog [IF]
Im sorry Hans, but this is false in the current congestion control algorithm. No mana = no transactions. To be honest, we havent really tried to make it work so that you can sent transactions with no mana during ties with no congestion, but I dont see how you can enable this and still maintain the sybil protection required. u/Luigi Vigneri [IF]
What do you think?📷
Dave [EF]오늘 오후 2:19
Suggestion: Sidebar, then get back to us with the verdict.(수정됨)📷2
dom오늘 오후 2:27
No Mana no tx will definitely not be the case(수정됨)📷5
]***Billy probably means the previous rate control paper as it was written by Luigi. I'll clarify with them📷
Hans Moog [IF]오늘 오후 2:29
When was this decided u/Billy Sanders [IF]
and by whom? Was this discussed at last resum when I wasnt there? The last info that I had was that the congestion control should only kick in when there is congestion?!?***[오후 2:29
]***📷 📷 📷📷
Navin Ramachandran [IF]오늘 오후 2:30
Let's sidebar this discussion and return when we have agreement. Dave has the right idea