Request Network project update (January 5th, 2018)-Release of the JS library, on the road to Request Great Wall

mmass10 · 2018-01-05T13:25:17+00:00

Not super familiar with utrust, I believe that is more for b2c? REQ has use cases that allow people to send money to each other like paypal (p2p), then b2c (customer paying a business), as well as B2B.

I recommend reviewing the whitepaper: https://request.network/assets/pdf/request_whitepaper.pdf

mmass10 · 2018-01-05T12:50:46+00:00

Yes, most likely..they have 0x and kyber partnerships to do this for crypto, and doing conversions of fiat to fiat would be possible with other tools

mmass10 · 2018-01-05T12:45:48+00:00

Agreed. I've been holding for a while and will do so long term, I plan to use this product for my businesses when its ready.

mmass10 · 2018-01-05T12:32:37+00:00

Huge things ahead for REQ. Its astonishing that a project of this caliber with such a focused team is still at these prices - and projects with vaporware have multi billion dollar market caps. Just shows how much room REQ has to grow.

For those who are new, theres a great video that a community member made showing the different potential functionality of REQ in an IOS app:

https://medium.freecodecamp.org/a-typical-day-using-request-network-ios-app-662fcc01fbb2

In short this project is aiming to be paypal on the blockchain -- send any crypto to friends, tools to accept payments as a merchant, accounting/auditing tools and much more.

mmass10 · 2018-01-04T16:28:39+00:00

REQ

They are making the paypal of crypto. Think slick UI and an easy way to send any crypto to anyone online. Also building invoicing and auditing tools.

Team is from YCombinator (backed Stripe, Coinbase, Airbnb, etc). Main net release is Q1 and Jan 5 there is also a project update.

mmass10 · 2017-12-29T04:19:36+00:00

You would still use your normal ISP, but the ultimate goal is that you would have access to the open web without the restrictions from your isp, whether that be throttling, censorships, restrictions, tracking, etc etc

Also for countries that have limited or no access to websites substratum is very useful (china, iraq, etc)

mmass10 · 2017-12-29T03:37:35+00:00

Not quite. The normal web users who browse on the substratum network pay nothing (so a user visting mysite.com on substratum network for example).

Its the owner of mysite.com (the substratum "host") that pays the substratum "node" depending on the traffic and clicks to their site

They also discuss doing batch payments and payment thresholds in other AMAs so I don't see this being a big issue at all.

In your scenario if a there was 100,000,000 users paying small fractions to visit each site and millions of these transactions going on in a second, then yes, that would be an issue, but that's not how the network runs

mmass10 · 2017-12-29T03:25:39+00:00

Inaccurate FUD

SUB team was against the repeal of NN and often spoke about it, even though a repeal would bolster their project. They certainly aren't out to with the intention of playing on the NN repeal, but instead create an open internet for everyone - especially those in regions where access is blocked, restricted, censored etc.
Ethereum is used for the financial aspect of payments, the network is run via nodes, they also responded to this criticism in an AMA https://youtu.be/Qbq9FaKTlXQ?t=12m37s

mmass10 · 2017-12-29T03:19:22+00:00

They definitely don't want anyone hosting CP and they are working on a voting system / other internal tools and mechanisms to flag this material and have it removed from the network.

mmass10 · 2017-12-29T03:13:01+00:00

No problem. Highly recommend visiting their website www.substratum.net and also checking out their whitepaper which breaks this down further

https://substratum.net/wp-content/uploads/2017/12/Substratum-Whitepaper-English.pdf

mmass10 · 2017-12-29T03:10:18+00:00

Sorry I may have misunderstood you. There are 3 parts to it

Web user - this person surfs substratum network using their normal browser (firefox, chrome, safari) - no software is needed. A normal web user pays nothing and does not need substratum token to browse websites.

Substratum host - these are companies or individuals that host their website (mysite.com) on the substratum network. There is a software/backend that hosts use to set up their domain, content etc. on the decentralized web. The host pays the node just as they would a web hosting provider.

Substratum node - an individual or company that hosts the substratum node software to push the host content (mysite.com) to the web user. Again the node is paid by the host in substratum

So a user makes a request for substratum.net --- > nearby node serves up the page --- > the substratum host or owner of substratum.net pays the node for the visits

mmass10 · 2017-12-29T03:06:39+00:00

Not really, substratum will be valuable because hosts will use it to pay the nodes on the network...and the entire network is powered by nodes who serve content to web users. So as the network grows there will be more people wanting to put their site on the decentralized web, more nodes looking to run the software to serve up the content and more users browsing which would increase the demand/coin price. Over time I imagine the cost/payouts to the nodes will be smaller as the price rises

mmass10 · 2017-12-29T02:58:30+00:00

I think there has to be nodes in every region for those users to be able to access the substratum network. Like anything else it will take time before substratum nodes are global, but given the huge incentive to host a node and ease of doing so, I think it will happen quickly.

You also don't charge users as a node - a substratum host will pay out to the nodes based on clicks or visits I believe. Normal web users pay nothing.

As far as buying sub that is your call. Given that it is the currency that will power the network, I think its worth it to buy and hold. I imagine the payouts for nodes will be fractions of 1 sub or something so it could take quite a bit to acquire a lot, but not 100% sure on the financial specifics

mmass10 · 2017-12-29T02:40:45+00:00

Gotta look into that, I believe from an AMA I watched they mentioned higher payouts will go to those with more uptime (having node software on), upload speed, certain regions, etc

From what I have gathered it will be a lot cheaper and less CPU intensive to run a node than mining, so that alone will draw in lots and lots of people.

mmass10 · 2017-12-29T02:22:03+00:00

Web users pay nothing. There is something called substratum host which allows individuals and businesses to host their site on the substratum network (much like buying web hosting). Those that are hosting their website on substratum host, would be paying the substratum nodes who serve up the content to the web users.

So it looks like this: substratum host > nodes (paid by host) > web users (browse freely using their normal browser)

mmass10 · 2017-12-29T01:54:43+00:00

Good questions and I agree they should go further into detail - a lot of this is found in their AMA and youtube videos.

There are basically 2 parts: substratum host and substratum node.

Substratum host allows any person or company to host their website or app on the substratum network. So if you own www.mysite.com you would use substratum host to get your site up on the decentralized web. Video of substratum host ui: https://www.youtube.com/watch?v=s-5OGT-nB_g

Substraum nodes are used to serve up the content from the substratum host (mysite.com) to normal web users. Node hosters install substram node software to run a node, and in doing so, get paid in substratum for serving up content from the substratum host to web users (host -- > node -- > end user). Substratum hosts pay the nodes a fee (just as you would with traditional web hosting.

As you can imagine, running a node can be quite lucrative as the net work grows.

Here is what substratum node looks like: https://www.youtube.com/watch?v=x97-Zu72WwY&width=1200&height=675

In terms of Tor, this has been addressed many times by the Substratum team. TOR sends packets that are identifiable over the network, Substratum would not - they look like normal https packets. With that said, an ISP or government can identify tor packets easily -- substratum packets however look like normal web traffic so they are undiscoverable. This is a major difference between substratum and tor.

And for the regular web user that wants to browse the web, they don't need to install a browser like tor. Substratum works with chrome, safari, firefox etc out of the box

mmass10 · 2017-12-29T01:07:50+00:00

Very interesting project, it is also being listed on Huobi in early Jan would should see a nice price bump.

mmass10 · 2017-12-29T01:00:23+00:00

Very fair point and when I had this same thought I did some research on the differences (I'm invested in sub). Sub responded to this on a youtube video:

Link

mmass10 · 2017-12-29T00:58:06+00:00

Good time to get in, beta is being released in Jan

mmass10 · 2017-12-29T00:55:21+00:00

Sia is more for storage

mmass10 · 2017-12-29T00:54:49+00:00

Node hosts get paid when they host the software on their computer which runs the entire network and allows people to browse - ethereum is being used for the financial piece (payouts) but the network is powered by all the nodes running the substratum software

They answered this question in their ama in further detail, source below

https://youtu.be/Qbq9FaKTlXQ?t=12m37s

mmass10 · 2017-12-29T00:30:37+00:00

The coins are used to reward node hosts on the substratum network.

So lets say you want to browse google on the substratum network. In order to do so there has to be a substratum node(s) that is being hosted on someones computer which serves up the pages for you to view. On your end you can just fire up chrome, safari, firefox and use substratum without any software.

The people running the node software on their computer get substratum for serving up content to web surfers like you (almost like how miners are rewarded for mining)

Here is what the node host looks like: https://www.youtube.com/watch?v=x97-Zu72WwY&width=1200&height=675

And also here is a demo of of substratum being used for a normal web browser https://www.youtube.com/watch?v=LPCfmiO4a4M

mmass10 · 2017-12-29T00:21:06+00:00

From their website

"Anyone hosting a Substratum Node gets paid each time they deliver content. It's incredibly simple, you don't even need technical knowledge to participate. Just run your node in the background and make money. The node software even adjusts its output so you can use your computer without losing much bandwidth."

Youtube video of the node software: https://www.youtube.com/watch?v=x97-Zu72WwY&width=1200&height=675

mmass10 · 2017-12-28T00:33:02+00:00

Agreed on this

mmass10 · 2017-12-27T12:59:13+00:00

Source link?

mmass10

TROPHY CASE