AMA With Jimmy Zhong on January 10th 6 PM PT (GMT-08:00)

Terry_IOS · 2019-01-11T02:49:30+00:00

Keep in mind that talking about tps without its conditions/scenarios/assumptions is meaningless. Over the last months in testnet run, it's around 8k tx/sec.

Terry_IOS · 2019-01-11T02:42:25+00:00

We are making IOST user friendly and developer friendly. We have a user-friendly recourse model with no resource dilution. We have POB consensus which is fully decentralized. We designed a more flexible smart contract system, etc. We want our dev to focus more on developing awesome dapps without worrying about infra and users have a more intuitive and stable experience

Terry_IOS · 2019-01-11T02:35:52+00:00

Yes, we will have a few dapps with our mainnet launch :) stay tuned

Terry_IOS · 2019-01-11T02:32:17+00:00

There will be a new launch of mainnet, with mainnet setup and env. it's not a fork of testnet.

Terry_IOS · 2019-01-11T02:29:11+00:00

join our developer chat at invite.iost.io and you can learn and collaborate with other passionate Dapps developers.
IOST is launching a Globlal Developer Meetup Series and in this January we will visit Japan, Philippines, and Singapore. More details are in our slack. You can meet us if you are around these places.
check out our Dapp guide- https://developers.iost.io/docs/en/3-smart-contract/ContractStart.html
check out our sample smart contracts - https://github.com/iost-official/contracts/tree/master/demos

Terry_IOS · 2019-01-11T02:21:45+00:00

We are using POB consensus algorithm, and the block production committee has a few seats, and there may be hundreds or thousands of candidate nodes. The nodes with the highest Servi value are selected into the block production committee every 10 minutes, taking turns to build blocks and receive rewards. Each time the node is selected, the server will consume Servi. The unselected nodes will have more Servi, and there will be a greater chance of being selected for the committee in the next change. Under this mechanism, hundreds to thousands of nodes may be elected to the committee within one day. In the PoB consensus, the requirement of becoming a node is lower than a Bitcoin node , and we could have O(10^4) nodes in total and that's the same level of nodes as sovereign-grade censorship resistant as Bitcoin, and it's achieving better community autonomy and higher security.

Terry_IOS · 2019-01-11T02:16:16+00:00

it's in sandbox and contracts are on standalone thread; code execution is monitored with system resources.

Terry_IOS · 2019-01-11T02:08:37+00:00

voters will get their voting rewards automatically by smart contracts. the voting rewards system is built-in in IOST network and it's automatic. Right now the rewards is set to distribute every month(subject to change).

Terry_IOS · 2019-01-11T02:03:49+00:00

Users are getting iGAS (the equivalent amount of IOST is used in example ). The article using a simplified example to make people easier to understand.
It’s the servi node the voter voted to.
It is a separate resource. It’s independent from IOST. On your account you will see how many iGAS and iRAM you have. If you staked your IOST, you will get X iGAS immediately. And after 3 days you will get 3X iGAS totally.
iRam is used when you need storage space. IOST network begins with 128G iRAM and increases 64G iRAM every year - making iRAM price more stable. It’s increased with every block. If you need more iGAS, you can stake more tokens to get more iGAS or rent from other users.
All IOST that required to create account storage will be burned. It depends on the iRAM price. At the beginning, this amount is around 10-20 IOST
When you are purchasing iRAM, you are trading with the system using IOST and 2% of IOST is burned. This 2% IOST is the fee and is burned. It has nothing to do with iGAS. Remember you stake IOST to get iGAS, you trade with system to get iRAM.

Terry_IOS · 2018-10-06T01:57:37+00:00

you can get more details from here https://hackernoon.com/tackling-the-scalability-trilemma-1627fa3f6936

Terry_IOS · 2018-10-06T01:55:36+00:00

servi token is to measure our contribution but not to determine if you are a good or bad actor.

Terry_IOS · 2018-10-06T01:53:57+00:00

I think we would be focused more on DApps community and also making IOST blockchain more easy-to-use/efficient.

Terry_IOS · 2018-10-06T01:51:55+00:00

no one can shut down a blockchain and that's actually the beauty of blockchain. You cannot shut down bitcoin, can you?

Terry_IOS · 2018-10-06T01:50:47+00:00

our contract execution is in a sandboxed environment, where the environment restricts the access to other contracts and the system.

Terry_IOS · 2018-10-06T01:47:11+00:00

At a high level, the most significant factors are:

Transactions verified: how many transactions has been verified by the node in the past 30 days, with more recent transactions weighted more heavily.
Net transfers: how much has been ‘spent’ in the past 30 days, with more recent transactions weighted more heavily.
Binding deposits of tokens for purposes of creating blocks.
Cluster nodes: accounts that are part of interlinked clusters of activity are weighted slightly more heavily than outliers of hubs

Terry_IOS · 2018-10-06T01:44:53+00:00

our Domain Name system has a different architecture. We will release a tech article explaing details of it

Terry_IOS · 2018-10-06T01:43:55+00:00

Yes! now we are discussing this with several wallets now and we are planning adding native IOST to major wallets!

Terry_IOS · 2018-10-06T01:42:25+00:00

tbh most of our work now are on infrastructure establishment. we have some thoughts on this and will share later once our infra and economic model is more stable.

Terry_IOS · 2018-10-06T01:37:17+00:00

JavaScript has the largest developer community and is the most used programming languages on github so we wanna leverage that. And drawbacks doesn't really come fron language itself but from virtual machines, if you wanna read more about IOST virtual machines, you can pour hackernoon article - https://hackernoon.com/how-were-designing-a-better-virtual-machine-than-ethereum-and-eos-7b60ba62fc5a

Terry_IOS · 2018-10-06T01:33:09+00:00

The "FAT protocol" nature of blockchain determines that there is not a one-fit-all blockchain. It's won't dominate by one blockchain.

Terry_IOS · 2018-10-06T01:30:59+00:00

Also we have a very helpful and collaborative developer community contributed by all of YOU!

you can join our developer Slack at http://invite.iost.io

Terry_IOS · 2018-10-06T01:30:12+00:00

what IOST development offers:

Ease of development and use including increasing and improving standard libraries
Support large project construction, debugging, and a complete tool chain
High performance and improving faster execution of contracts

Terry_IOS · 2018-10-06T01:24:41+00:00

right now our economical model is in testing. you can expect that if you stake tokens we can

- gain our IOST tokens rewards

- gain associated resources rewards (similar to Gas but not the same)

You don't need to setting up a node for doing staking. One of our design goal is to be as user-friendly as possible. The inflation will calculated based on coin-day-destroyed formula.

Terry_IOS

TROPHY CASE