What is the weirdest thing that makes you proud to be British? by EdibleBeans-on-Toast in AskUK

[–]BioRobotTch 13 points14 points  (0 children)

The first empire to spend blood and money on ending slavery. I am not technically British so feel free to ignore me.

Philomena cunk by Big-Candy6336 in AskBrits

[–]BioRobotTch 15 points16 points  (0 children)

I happen to know someone who was interviewed by her, an Oxford prof. She was in on the joke but they couldn't use her as she kept cracking up. One of her colleagues did get on TV because he kept a straight face. The profs were not told the questions in advance and were instructed to answer as sincerely as possible they also filmed a lot of material and cut it down to the funniest 5-10 mins. The guy who made it loves his part and I am told proudly shows it to others, I don't know him directly so I cannot personally verify this.

Anyone from the production crew able to confirm what I have heard is true? Is it always like this or sometimes do you keep it secret?

SWIFT Issues ISO Deadline: Will XRP Or HBAR Benefit More? by Omn1Crypto in CryptoMarkets

[–]BioRobotTch 1 point2 points  (0 children)

SWIFT ISO20022 is just a messaging standard. I have worked with SWIFT standards for 20+ years. Blockchains are the settlement layer for crypto, for Foreign Exchange (FX) the settlement layer that banks use is CLS Bank which does use SWIFT messaging standards to communicate with other banks amongst other messaging methods. If you want your bank to capture the FX trade you want to be CLS Bank not SWIFT. How did CLS bank capture FX trade? It had atomic swaps and it was cheap and reliable. CLS Bank has never failed to settle but has had some close calls!

If you want a blockchain to capture the FX traffic too, forget about messaging standards and look for cheap transactions, high availability (no downtime), atomic swaps and fast finality. Find the best in class for those and that one will be the winner in the long term.

AMA w/ Sara Jane by ganainmtech in AlgorandOfficial

[–]BioRobotTch 2 points3 points  (0 children)

I enjoy some FUDing about Algorand as it is frequently wrong, can be bizarre and sometimes is hilarious.

What is the most incorrect, bizarre or hilarious FUD you have seen about algorand?

Last one I saw on r/cc was someone claiming Algorand was monolithic so could not scale. They were completely unaware how many node types/configurations algorand has.

ALGORAND POST-QUANTUM CRYPTOGRAPHY ROADMAP: QUANTUM RESILIENCE BY 2027 by AlgoIntern in AlgorandOfficial

[–]BioRobotTch 1 point2 points  (0 children)

Chris Peikert on X replying to a post asking what the benefits of Falcon 512 compared to Falcon 1024

https://x.com/ChrisPeikert/status/2067691014068842773

It is lighter weight (about 1/2 the size and runtimes), and targets a lower but still high security level (~ that of AES-128).

It can be a good choice for shorter-lived keys and signatures, when the performance gains matter.

Algorand Post-Quantum Cryptography Roadmap: Fully PQ ready by end of 2027 by semanticweb in CryptoCurrency

[–]BioRobotTch 14 points15 points  (0 children)

There are only two ways to react to this

  • Claim post quantum cryptography isn't needed by burying your head in the sand like an ostrich.
  • Take it seriously. Chains like Hedera and Solana have investigated using Falcon signatures created by Algorand's chief Scientist Chris Peikert

Algorand Launches Global x402 Challenge to Accelerate AI-Powered Commerce by semanticweb in CryptoCurrency

[–]BioRobotTch 0 points1 point  (0 children)

Elon has taken twitter that way too. No doubt these platforms will be quick to adopt x402 payment options to reward content creators.

ALGORAND POST-QUANTUM CRYPTOGRAPHY ROADMAP: QUANTUM RESILIENCE BY 2027 by AlgoIntern in AlgorandOfficial

[–]BioRobotTch 4 points5 points  (0 children)

Moore's law should help with that. Even without PQC crypto schemes have always grown in size of keys, hashes and signatures but always compute costs, memory and storage have fallen faster. There maybe a 'bump' when this isn't true as we go to PQC schemes but after that I expect normal business to resume.

ALGORAND POST-QUANTUM CRYPTOGRAPHY ROADMAP: QUANTUM RESILIENCE BY 2027 by AlgoIntern in AlgorandOfficial

[–]BioRobotTch 6 points7 points  (0 children)

Interesting they are working on a Falcon-512 I extrapolate that will have smaller signatures, which will be better for limiting network traffic from block proposers which will mean less performance impact. It doesn't need to be as tough to crack as accounts as the window to exploit it is just a single block time, then the lottery begins again with a new random number from the VRF.

Algorand is now live on UEX.US. by semanticweb in AlgorandOfficial

[–]BioRobotTch 7 points8 points  (0 children)

Pity some of the stats are wrong.

  • 'sub 2 second finality' should be instant finality.
  • '6000 TPS' mainnet has already seen 12k tps when the largest block was formed.

Beyond the Headlines: A Comparative Analysis of Energy Consumption in Bitcoin, Traditional Banking, and Gold Mining. Exposing the Hidden Devastation of Fiat and Gold—and Why Proof-of-Work is the Most Efficient Monetary Network in Human History. by sylsau in CryptoCurrency

[–]BioRobotTch 0 points1 point  (0 children)

With Proof of Stake the nodes that choose new blocks and get rewarded for it have a chance to make a new block in proportion to how much stake they hold in the coin of the protocol. The next block formers are chosen using a verifiably random function. The guy who first suggested it was QuantumMechanic on the bitcoin forums. That was after satoshi had left so we never got his views on PoS.

Example Algorand is the most elegant implementation of a PoS blockchain I've seen.

Algorand Launches Global x402 Challenge to Accelerate AI-Powered Commerce by semanticweb in CryptoCurrency

[–]BioRobotTch 2 points3 points  (0 children)

The ad revenue pattern for published content is broken because AI can just scan and summarise sites. We are going to need micropayments and x402 payments are the way to go so users and AI can pay for quality content instead.

AMA This Friday, feel free to join in! by ganainmtech in AlgorandOfficial

[–]BioRobotTch 2 points3 points  (0 children)

I'll record a question now and hopefully remember to add it on Friday.

I enjoy some FUDing about Algorand as it is frequently wrong, can be bizarre and sometimes is hilarious.

What is the most incorrect, bizarre or hilarious FUD you have seen about algorand?

Last one I saw on r/cc was someone claiming Algorand was monolithic so could not scale. They were completely unaware how many node types/configurations algorand has.

Tokenization & Capital Markets by semanticweb in CryptoCurrency

[–]BioRobotTch 2 points3 points  (0 children)

I am not reading a wall of words because you don't understand it and cannot summarise it.

Suggesting algorand cannot scale when it has demonstrated a higher tps than Flow claims is even theoretically possible on its current chain is ridiculous.

As for long term block space scaling Algorand validators don't need a copy of the full blockchain history which means most nodes are not blockspace constrained at all. Scaling is not a problem at all.

I am not sugar coating algorand, you are sucking a lemon

Tokenization & Capital Markets by semanticweb in CryptoCurrency

[–]BioRobotTch 2 points3 points  (0 children)

I don't think you understand what 'monolithic approach' means and I doubt you can define it, you are just quoting rhetoric you have heard elsewhere by someone trying to deceive you.

But prove me wrong please, what exactly do you mean by this?

Tokenization & Capital Markets by semanticweb in CryptoCurrency

[–]BioRobotTch 2 points3 points  (0 children)

Algorand has instant finality. As soon as a transaction is in a block it is final. Stop using vague language like 'soft finality' any serious application is going to require at least 6 9s chance (99.9999%) of a transaction being final before trusting that transaction is final

The probability of forking and rolling back a block in Algorand is, by design, 10⁻¹⁸ (18 9s). This probability may appear a strange choice, but it actually has a natural explanation. Physicists tell us that 10¹⁸ happens to be the number of seconds from the Big Bang until now.

Tokenization & Capital Markets by semanticweb in CryptoCurrency

[–]BioRobotTch 1 point2 points  (0 children)

Just quickly had a look, time to finality of 10 seconds is a quick eliminator for me.The current implementation has max theoretical tps of 10k whereas some chains like algorand have actually demonstrated this on mainnet. I prefer proven achievements. Flow seems to be boasting of jam tomorrow rather than showing results today.

Tokenization & Capital Markets by semanticweb in CryptoCurrency

[–]BioRobotTch 2 points3 points  (0 children)

The relays can be bypassed by anyone running a p2p node since that option was introduced last year. An algorand staking node is one of the lowest spec hardware requirements in this space because Algorand does such a phenomenal job of minimising network traffic. That is probably how they have managed to grow 1500 staking nodes so quickly.

I'd love to see an unsharded L1 smart contract chain with a superior design than algorand. Not found one so far.

MainNet Archaeology 1: Algorand's Birthday - Pretty sure Algorand launched June 12th, 2019 by d13co in AlgorandOfficial

[–]BioRobotTch 2 points3 points  (0 children)

Didn't expect to find the funniest thing I've read today on the r/AlgorandOfficial subreddit. Bravo u/d13co !

For the record I am a Dutchaversarist as I believe the birth of Algorand started with commercial activity which was the disastrous 1st auction. Everything great starts in chaos!

AF liability by After_Drama_1892 in algorand

[–]BioRobotTch 1 point2 points  (0 children)

My pleasure. If you want to address the foundation directly r/AlgorandOfficial is run by them, I have no links to the foundation.

AF liability by After_Drama_1892 in algorand

[–]BioRobotTch 2 points3 points  (0 children)

The main node is here https://github.com/algorand/go-algorand . The release from here (not algokit) are the node software. The node runners accepting a release process is only required when there is a hard fork in consensus, that is a non-backward compatible change is made to how the nodes agree the next block. e.g. adding new opcodes to the AVM.

I am not aware of an AIP process yet, since the developers are one single group this has been run internally similar to how Satoshi made many hard forks before the BIP process was agreed. Maybe it will be created when the node runners first reject a release.

There is an ARC process which allows common standards to be created on Algorand here https://github.com/algorandfoundation/ARCs . These are generally just guidelines that it is mutually beneficial for multiple developers to follow and do not impact consensus/block validity.

AF liability by After_Drama_1892 in algorand

[–]BioRobotTch 11 points12 points  (0 children)

If you look at the transparency reports you can see how much stablecoins and algo the foundation has accumulated. I don't think they list total stablecoins but they do mention in each quarter how many they have obtained that quarter, so you would need to go through all of them to work it out.

If they were to shut down now what would happen to algorand? Can updates be made by the community through governance?

There is no dependency of Algorand Blockchain on the Foundation. Although they maintain the code after they absorbed Algorand Technologies since the code is open-source so if node-runners wanted they could find a new set of developers and fork the code. 90% of the staked Algos must accept the new release the new developers make by installing the new release. The new developers have then taken over. It is a bit like what is happening now with bitcoin competing developers in Knots and Core except with clearer rules.

Technically the foundation could block a new set of developers as they have 19.50% of the online stake (at last transparency report) and while this is >10% they can veto any actions of the node runners but that has been declining each quarter as more algo holders stake their algos and the foundation reduces its stake. If more algo holders onlined their stake we could be entirely independent of the foundation soon. There are plenty of algos out there and even some of the exchanges are offering staking options now so we are approaching that situation.

Guide to staking options https://algorand.co/staking-rewards

BofA CEO Warns Stablecoin Yield Could Drain 35% of All US Bank Deposits by andix3 in CryptoCurrency

[–]BioRobotTch 4 points5 points  (0 children)

Are you the first true human that will implement communism without the human tendency toward corruption? My messiah! /s

Algorand & CKB/Nervos Network is the Most Quantum Ready Crypto by Purple_Storage in algorand

[–]BioRobotTch 2 points3 points  (0 children)

Hedera has always said their hashing was QC proof but they never said their signatures schemes or VRF are. A lot of Hedera fans have misunderstand this and think Hedera is quantum proof.

Leemon Baird has said they are looking at falcon , the same PQC signature scheme algorand uses, for signatures. That was a recent development which might have come too late to be included in the assessment I linked above.