REVIEW AND PICS OF THE MEETING IN LONDON WITH DAN HUGHES AND FORUM MEMBERS Thanks to Jazzer (Forum Mod) for the following write up! Thanks to Kiaya (Beta Tester) for the pics! -Mobile clients: One of the questions was how can mobile clients work while retaining anonymity? The problem is that you need to scan the whole transaction tree to see which transactions belong to you, since you cant really ask anyone else without giving out your private keys. The answer is surprisingly simple: eMunie will have 1024 channels, and the client knows which of the channels its transactions will end up in. Therefore, it will not have to scan the whole tree, only about a thousandth of it. That could still be a lot of data, so there is a quick fail test by which the client can decide very quickly if the transaction is for him without actually trying to decode the entire transaction. Due to these enhancements, mobile clients should be able to sync up fully from scratch in about a minute on a normal 3G connection. Mobile clients will not be in the V1.0 but will be released soon after. -Escrow system: The eMunie client will support escrow transactions. Everything required to do this is already part of the main machinery. The tree structure/transactions mechanism is in place. Therefore, it should be easy to add this functionality to the client, but so far it hasnt been a priority. Escrow will be special multisig transactions, which require 2 out 2 (sender & receiver need to agree to release funds) or 2 out of 3 (third party can decide who gets the funds). Escrow transactions will be included in V1.0 -Assets: One question that came up was what the purpose is of assets which are backed by eMu. What is the use case for that? It turns out that there is a legal requirement for gift cards to be backed by a certain amount of currency. Doesnt matter how much, but there needs to be something. What they want, they get. So there has to be at least a tiny bit of eMu which is backing a gift card asset. So the uses for assets will be on the DEX, where they represent all kinds of currency, and as gift cards to be distributed by merchants. I imagine there may be some goofing around with them as well (games?). :) -United Kingdom Digital Currency Association (UKDCA): This is a non-profit organization which aims to promote digital currencies in the UK. eMunie is joining the UKDCA, which may help us out in dealing with legal/regulatory/government issues. Dan already looked into the legal issues with some lawyers he knows personally, and believes that eMunie should be in the clear as far as digital money laws go. Nevertheless it wont hurt to gang up with like minded individuals/organizations. -Transaction fee structure: Minimum fees for transactions will be set by the hatchers. Depending on the amount of income they expect from the reward pool, they may adjust the transaction fees to cover their operating cost. The fee can go as low as zero if the hatcher wants to. There was some concern that this may open attack vectors where a hatcher sets zero fees and spams transactions that it clears itself to get more work done to get a large share of the end of month reward, all the while bloating the block tree. Dan said there is a crude spam detection going on under the hood, whereby hatchers who see suspicious behavior by other hatchers can choose to ignore transactions they publish. This should prevent spam attacks. As you may know, I am still favoring changing the reward structure myself (shameless plug), but you cant win them all.. ;) -Tree pruning: eMunie works with balance keys which are updated when a transaction is completed, not unspent transaction outputs. Therefore, once fully completed the transaction data itself is no longer necessary to determine who owns what. Therefore, fully completed transactions can in principle be pruned from the tree. This is actually what happens with the snapshot mechanism, and will help a lot in restraining the tree size. -ENS addresses: When the client is released, people who have invested will get a certain amount of addresses. Obviously, when the network attracts new users they will also want to use their own short names rather than the long crypto addresses. However, the key to create new ones will not be public. New addresses can be created trough the client via a wizard in one of the menus (we didnt discuss what the fee will be). -DMP: It is awesome, just awesome. You can create listings and put them up for sale just like with your commercial marketplace site. There is categorization and easy searching of listings. Pictures, shipping options, pricing in various currencies (including native BTC) and more are all included. Since it is distributed, it is not possible to remove listings which have illegal content. This is potentially a legal issue, which is resolved by having a reporting mechanism by which people can report illegal content. If reported above a certain threshold a number of randomly selected volunteers can vote on whether this is indeed illegal content. If it is, the listing is blacklisted from viewing by normal clients (and possibly reported to the police). Blacklisted items are still present in the network since they cant be removed, and can still be accesed by enabling blacklisted items somewhere in the menu. There was concern that people may try to get listings by competing merchants blacklisted, so we will have to keep an eye on how well the mechanism works. -Beta: The auction part of the DMP depends on the DEX, so that won´t be included in the beta yet, but otherwise we should expect a fully functional system ready for testing within days. Dan said he would release a beta asap. The current demo version is not suitable as beta because it needs to populate a large database when it starts making it start up very slowly (5 min+). This can be easily optimized and when thats done we will get to play with it. -Translations: The hooks are in place to create text files for translation to other languages. This is not a top priority at the moment, but is definitely happening in the coming months. If you want to help translating to a specific language let us know! -Release date: While we were discussing the roadmap, it became clear that unfortunately further delays seem inevitable. Realistically, it seems unlikely that the V1.0 release will happen before Christmas. Well be having a longer running beta test first to prove network stability while Dan polishes the DEX and remaining features. Its tough, but all those present agreed that it is worth the wait, but we still urged Dan to not do too much gold-plating before releasing.
Posted on: Mon, 22 Sep 2014 22:35:44 +0000
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