Thanks! Mental harm? Au contraire, thank you for this useful input. The multisig protocol is worked out pretty well in an appendix/protocol paper that we are planning to publish somewhere the coming days.

I need to sleep now but we will try to answers your other questions tomorrow!

Good idea. We'll put it on our whitepaper todo.

In principle all keys are required. We are still looking into the possibility of using threshold encryption methods, like M-of-N, but it may be possible to do without.

Either swarms will need to be duplicated to make sure there is fail-over for nodes that drop out, or we must recreate keys from the data that a certain amount of nodes of the swarm holds.

The current graphic for a transaction only shows the process in one direction. In reality both Alice and Bob are sending value to two wallets that are controlled by the swarm. These are swapped out, and handed to the opposite user as soon as the swarm has verified both their transactions.

You are right. Something to be corrected.

In the end, we want any user to be able to issue a hybrid asset. This creates diversity and many options for groups and users. For example, someone may create a hybrid asset comprised of all the alt-coins with animal names, and call it 'Animal Farm'. This user may employ bots to increase the liquidity of that hybrid asset, draw in market participants, and make it a very attractive hybrid to use when one wants to quickly convert value between Dogecoin, Piggycoin, Kittycoin and Flappycoin (R.I.P.?).

We are still deciding on whether or how to build a reputation system. The problem with reputation systems is that a Sybil attack can quickly render them useless. Perusing block-chain track records to build a kind of reputation representation may also work, but we have not decided on this.

Hybrid assets have a one-on-one relationship between value systems. When value in a hybrid asset is not synchronized it makes for an arbitrage opportunity. Multiple hybrid assets may have similar relationships between currencies, and thus other hybrids will be used to gain value from their arbitrage, pulling the value of the hybrid asset back into sync. (If a hybrid is a unique asset combination or has very little liquidity, the imbalance could remain. In that case, traders may choose to monetize on it using arbitrage via a federated gateway, or even centralized exchanges. In this case, however, traders are taking a risk, hoping to gain reward from their arbitrage.)

That's a fine lot of good questions, if you ask me.

thanks for that

it had a circa 1990s look, when he said 6th birthday I said: "what? is this a recent vid, or is he just wrong?"  then I saw the date of upload ... oh

read the whole friggin paper. this is majorly cool shit  and I want to see it happen!!

how is development going at the moment?

Cool project, looking forward to reading how it develops

yep, good work

Thanks Nifty

In the upcoming week we'll be visiting the Amsterdam Bitcoinference to explain & illustrate the whitepaper and talk to other devs.

agent725, I'm working vigorously on PICISI, a crowdfunding site that accepts fiat and crypto, it will launch in under a month, there will be many paid sponsorship opportunities when the site launches however prior to launch I have created 20 free sponsorship opportunities.  If you are interested in one of the remaining 12 11 spaces contact me before they are all gone.

At PICISI here are our primary sponsorship opportunities:

1)  Host CC Sponsor -  One of the best ways to get your coin into the hands of someone is to simply give it to them, however the best way to get your coin used by the general public is to get your coin into their hands and have them use it in a real life application.  When an organizer starts a campaign at PICISI s/he has a choice of what CC currency type to select, the first choice is “sponsor currency” this is the organizer indicating a willingness to have his campaign sponsored at the host CC level.  Once the sponsor is finally selected that currency will be the currency that all other CCs donated to that campaign will be converted to for the duration of that particular campaign.  

This is major because everyone that visits that campaign will see your currency, but the will not only see but will likely use the funds to do business with one of the contractors at the site during the campaign.   If they don't use it during the campaign, over that month of close interaction with your currency they are very likely to want to learn more about your coin so that by the end of the campaign they will make the deliberate decision to download a wallet, open an exchange account, or simply convert out of the currency.   Regardless of what they actually choose to do your CC has certainly been branded into their mind in a very positive way.

2)  Campaign Sponsor - this is the most common type of sponsorship outside of PICISI;  the sponsor’s logo is affixed to the body of campaign text in an area set aside for campaign sponsors.  The higher your donation the higher your logo is located in the sponsorship logo area.

3)  Donor Perk Sponsor -  a sponsor provided perk escrowed by PICISI on behalf of a specific campaign where it will be used.   If the perk is not requested by any qualified donor it will be converted to host CC and donated to the campaign

4)  Advertising Perk Sponsor -  a sponsor provided perk escrowed by PICISI on behalf of a specific campaign to be used as a perk or returned to the sponsor.  If the perk is not requested by any qualified campaign donor the perk is sent back to the sponsor -- the perk is NOT donated to the campaign.

and

5)  Campaign Video Sponsor -  the first 5 second of the campaign organizer's video is allocated for the Campaign Video Sponsor, this is where the sponsor will indicate: “This video is brought to you by … [say sponsor's name, show sponsor's logo, and say sponsor's catchphrase]”

Things get more interesting for 'purpose coins'.  A purpose coin is a CC created for a specific purpose or niche, eg: EMC2, Metal, HYPER, GMC,  RPC, Gridcoin, EDU, FLDC,  etc ...  for these coins they may want to direct their sponsorship more broadly to whole categories as well as specific campaigns.  EMC2, Gridcoin, and FLDC will likely want affiliation with science research category; HYPER and GMC will want affiliation with gaming and game development categories, Metal will want affiliation with music category, EDU will want affiliation with Education category; SLR will want affiliation with the Renewable Energy category.   So that when someone is searching via the categories specific sponsorship logos will be part of the picture.


PICISI is currently sponsored by:

There are 12 11 free CC sponsorship positions remaining.  Let me know as soon as possible if you want inclusion.

Great Project

I recently posted in regards to something like this.  Much better fitting word abstractions for how a project like this exists in the blockchain ecosystem.