The rankings of coinmarketcap is being criticized and for good reason, it turned out. The blockchain transparency institute set out to gather data on exchanges' actual volumes and for more than a year, their team has grown and their reports become more and more detailed. I highly suggest people check out their work. https://www.blockchaintransparency.org/december-2018-rankings
But I'm actually fine not having a huge bag. Whenever money gets in the picture, things start to turn irrational and emotional. I prefer to focus on the use cases and to explore the opportunities of the platform
But yeah, that's the thing with a lot of those huge projects. They inflate to incredible size in a very short amount of time. They completely lose track of their expenses and things spiral out of control
Hubs and witnesses are the two core elements that will potentially have a financial incentive. Witnesses from the transaction fees and hubs can in time build a model of income from being "first in line" full nodes seeing transactions a fraction of a second before everyone else, thereby making it possible for it to post a transaction of its own to reference that new transaction, thus collecting the payload part of the fee. Another income model could be to offer bot operators a high rank on the bot store, promote a certain bot through a time limited campaign etc.
Yup - you can spend it after a year. The second condition is for safety - after 2 years, if people have still not moved their bytes from their wallets, we will start initiatives to inform people that they should get out the bytes. But a lot of users will have completed the attestations only to get some quick bytes and have uninstalled their wallets after selling their bytes. So to prevent a lot of bytes (more than 73,000 users attested) from being lost forever, there is that safety condition.
You need only a full backup for safe smart contracts and private assets (like blackbytes).If you receive only bytes you dont need all time a backup 😉 you can try this with a small amount.Attention!If you make a backup and after you generate a new address and receive to this address bytes, you must after restore generate this new address again.sorry for my english 🤡
Thanks. I'm asking more on technical side. The witness server listens to requests, I presume via the config option exports.port = 6611 determines that the witness can be accessed externally via requests to that?
There's basically nothing more to it, then 😊As Peter says, as long as the witness posts transactions at a regular interval, that the full nodes of the network can use as a sort of "beacon" to determine a transactions position on the main chain, you are pretty much all set and ready to go.
They offer an option to apply various additional checks like credit worthiness but we don't do that. Whether people have a good or bad credit history is totally irrelevant to Byteball since the ID isn't used to provide any kind of credit to users.