This month is a bit different because we will introduce a protocol change that we will implement next month. But for those of you who might be disappointed by this, we have included a couple nice updates and one very nice surprise to keep everyone happy as we evolve with XTRABYTES.
Borzalom 777
We have once again selected 7 questions that we are willing to answer but this will be the last time this session is done this way. In the future, we will have a dedicated team taking care of this and the questions and answers will come from them, based on where we are at that moment in time on our technical journey.
We will have things explained in layman's terms so that the masses can understand clearly what we are doing, without getting into the technical details that other projects need in order to take our ideas before we are able to bring them to market.
Q1: How come our transactions are aiming for VISA speeds while PoS coins / Masternode coins can't even come close to that. Is it purely the technology that enables that? How can it be so fast?
A1: Without getting into the proprietary trade secrets we will protect at this stage, what we can tell you is that our technology is utilizing completely different methods when compared to other blockchains. Our focus is not on coming up with the next cash-grab ICO to make a few million bucks. We are literally changing the crypto tech environment and this is being done because my vision and observations over the last 8 years have shown me many ways to do things better. Some I have tested, some was just theory that I am implementing now and we are about to test these theories and see if we can not just hit bank card technology speeds, but actually hit the speeds that bank card technology needs to be able to accomplish within the next 5 years if they wish to compete with the latest advancements in crypto technology.
Q2: Will some % of the fees for the transactions (and then different services) still go to the community address when the major development will be completed? I'm asking because I think that a self-funding system is a very good thing to have (see DASH e.g.)
A2: The launch of XFUEL was an immediate solution to the development funding problem we had been facing for several months. Beyond that, there has always been a plan in place to have a small % of STATIC fees being directed into a community development fund. The percentage has not yet been finalized, but it will be enough to ensure there is always funding available and also to not take too much away from the STATIC profits pool.
Q3: Proof of Signature seems very similar to Proof of Authority networks with a minor proof of stake component. Can you explain the difference?
A3: The STaTiC network is a nonstandard p2p network. This is an intelligent network. So the first difference is the networking model. This new network model and protocol provide lot of different features which cannot be revealed at this time. Another difference is the signing consensus. Other networks choose one miner and this chosen miner signs the block. The PoSign uses another signing technique where each online miner signs the new block. Comparing these difficult techniques is much more complex and is impossible to explain this just using some words.
Q4: The future of XBY rests on adoption. While XBY's technology is far more innovative and efficient, existing platforms have the advantage of established name/brand with proven track records. Are there currently any plans for XBY to tackle this hurdle?
A4: This is not something we worry about. We have a very good marketing team and a strong community that is growing. In time, we will become a well known project and this will be the result of the grassroots and social movement we started several months ago, followed by the hard work of the new marketing team and all the community members who are also doing their part to get more and more exposure in the crypto world.
Perhaps equally important, possibly more important, will be the HOPE that our future proven track record will be much stronger than any existing projects. Our intention is to create a better system because the truth of the matter is that, even though crypto has grown in leaps and bounds over the last 9 years, there are many problems and issues because the tech is not perfected.
We can relate this to the first cars, first airplanes, and first computers... they all do the same as what today's version do, but today's versions are far superior... just like XBY will be.
Q5: What are the differences between level 1, level 2 and level 3 nodes? A level 1 node requires double the amount of deposit and there will only be 512 level 1 nodes as opposed to 1024 level 2 ones. But are there any other differences e.g. in functionality? What can a level 1 node do that a level 2 node can't? And similarly, how would a level 2 node differ from a level 3 node (other than deposit amount)?
A5: Again, we cannot get into the explanations of this without revealing trade secrets that we must keep concealed regarding our technology at this time. What we can say is that functionality and protocol differences also exist between the level of nodes... Our system is revolutionary and when we finally reveal how this all works, everyone will be amazed. We cannot say more at this time.
Q6: How exactly is unlimited blocksize possible with ZoltChain and XTRABYTES?
A6: Why do we need the blocksize limit? Because the bitcoin and other blockchain networks use the wrong protocol. If the block size is too big then broadcasting the new block is problematic. Why do we need to broadcast the blocks? Because all clients copy the blocks to the storage of the computer. The XBY network store the blocks inside of the network so we don't need to broadcast the blocks. This is the reason why it's possible to have unlimited blocksize.
Q7: Will it be possible to manage own nodes or change for example L1 500k node for L1 330+170 node?
A7: I am working on the testnet STATIC registration, so this test will open shortly. The mixed deposit feature will be available in the testnet. After the test has been successful, then the live STaTiC registration and transfer will be available immediately, along with the first incomes of the STaTiC owners. The XFUEL and XBY network will be untouched and the registration will be available on the new XCITE client.
Below you will find a couple new features our developers have been working on recently:
https://gettingstarted.xtrabytes.global/
https://bugreport.xtrabytes.global
Finally, the big news:
Borzalom has identified a 100% patent-able section of our tech and we are going to register the patent. Obviously we cannot share any more details about this at this time. But, this is a major moment for the XTRABYTES Community and it is very important to also note that the patent owners (Borzalom and CCRevolution) will enable free usage forever of the patent for the XTRABYTES Community only.
This is designed to protect the XTRABYTES Community. It is no secret that we want to prevent a fork, because we do not want to see a bunch of useless altcoins like BTC has. We want to integrate all the developer power into one project and not have the resources split.
Originally published on the XTRABYTES Community Forum