Welcome to the Radix Technical Forum. Introduce yourself on this thread, and tell us how you are using the Radix ledger in your application tech stack.
I’m Henri - irl - but I often use skywave or skipper as my online names…
Have enjoyed the ride together with Dan and a bunch of other great folks for almost 6 years.
My name is Eddy, I’m 33 years old and I’m from Spain and I’m very interested in Radix’s new technology. I come from the blockchain (I’m not a developer) but I hope to move forward and learn everything about this technology. Greetings to all
Hi, my name is Faraz - I discovered Radix about a year ago in my search for a DLT that actually attempts to address the blockchain bottleneck. I was fortunate enough to meet some of the team at the Alpha launch in London last year and have been following the chat on Telegram intently ever since!
I’m not a developer but I am a huge fan of the tech, and look forward to seeing how things develop this year!
Hello- my name is John- I’ve been thinking about getting more involved with Radix off and on for several months. I would like to contribute somehow- even if it means proving at first how much inbound traffic I can generate for Radix. So I’m looking to talk to Laura Woods too on here (if anyone knows if she is on here).
Copy Manager, XTRABYTES
Hello my name is Sebastian from Bolivia. I am trying to develop a online platform to trade green coffee, and perhaps radix is the infrastructure to use. I hope to learn more of it on the different communities. Cheers.
My name is Habil Kantur, I am 42 years old and I live in Sweden.
Last year I wrote my master thesis in Informatics and thats when I came in contact with distributed ledger technologies such as Blockchain, DAGs and Radix DLT. The thesis was about how smart contracts could change the insurance industry and the writing resulted in more questions than I had answered.
One thing in particular that I realized was that the fuzz about Blockchain is wasted time. Due to its inherent properties it cannot scale well. Then I looked at DAGs and found IOTA which looked promising. Started researching its potential and found that there were still issues that prevented it from becoming a future-proof platform. (They were not really into smart contracts either, which I found strange).
Soon after that I came across Radix DLT. Started reading and learned that the team behind Radix were not interested in an ICO, they were building something useful that would benefit people around the world. Perfect, just what I was looking for! This could genuinly be the foundation of the paradigm shift that will come to be.
And thats why I am here, to get to know like-minded people and learn more about how to utilize the Radix network to create real-life value. I am very much interested in value creation and I have some ideas on how to disrupt the insurance industry.
I am on linkedin if you want to connect: https://www.linkedin.com/in/habilkantur/
Welcome Habil. Glad to have your here! That sounds like an interesting thesis. Can you go into more details on how the Radix DLT could be useful for, or even disrupt, the insurance industry?
Micro insurances that can be bought through apps and guarantees automated pay outs based on smart contracts is one example.
We interviewed employees working w car insurances and there are many ways to automate the work processes. Automation reduces costs which allows for lowering of fees resulting in bigger market shares.
I also have ideas on life insurances and health insurances.
The bottom line is that DLT’s allows for new and more efficient business models.
How will the smart contact verify that the event has happened that triggers an insurance payment?
With data from trusted sources directly or from middle ware such as oracles. The details around the creation of smart contracts requires an analysis from different perspectives, such as legal, technical and business which must be done for each customer and each smart contract.
Howdy, I’m a software engineer. Oldie in the field, but newer to blockchain.
A story about how I finally found RadixDLT, and how it confirmed my intuitions about DLTs. And then some praise for the project:
Story: Obsessed with Time and blockchain
I decided to dig into how bitcoin works and the consensus algorithm, which I thought was beautiful at first, until some questions started popping into my head.
How does bitcoin actually ensure that transactions are accurate? Dig, dig, dig.
Answer: it doesn’t. And nobody’s talking about it. And it doesn’t incentivize accuracy in the ledger. Huhh???
All this work, carbon emissions the size of a medium sized industrial country - supposedly to solve the double spend problem, is all just to agree on the canonical chain and make it expensive to act badly?
I thought: “This is crazy. A transaction system should be ordered in time. That shouldn’t be an afterthought.” I was driving along, and it kept popping into my head, “double-send…TIME…double-send…TIME.” And then, “Proof of time” and “Proof of time protocol.” I became obsessed.
A blockchain should be based on each transaction being the next transaction in a chain on the axis of time. If transactions were ordered, we wouldn’t need proof-of-stake, proof of work, or any of these other algorithms. But how would we order them? Timestamps are so unreliable. You can’t send time over a network. We need a timeslot for each transaction. A transaction should get a timeslot like an OS gives out cpu time to processes. But it can’t be centralized like an OS. Briefly I came across the Lamport protocol, and I thought this is what we need, but surely it’s too simple, and that’s why nobodiy’s using it.
For 3 weeks I couldn’t get proof of time and proof of time protocol out of my head. Somebody has to have figured this out. Distributed systems have existed for a long time. Distributed computing even. Isn’t this just another distributed system??
I got sidetracked on opentimestamps, and roughtime. But I started to realize this was a distributed database problem. Plain and simple (well except for the bad actors part and the money part) I started to come back to the Lamport clock. It seemed too simple at first. Integers??? Someone could just change them. But then i saw the chaining of timestamps in Roughtime. I was like, “maybe something like this could work.” I hadn’t found merkle trees yet or come up with a good protocol. I felt there needed to be separation between the request for transaction and adding the transaction in an ordered fashion though. I started trying to come up with an architecture. Should there be a sidechain that stored the time-order?
Late afternoon at work, I remember reading in a github issue on opentimestamps that proof of time does not solve the double spend attack. With no explanation why.
This rankled me. But I’m a newbie, so I must be missing something or oversimplifying this. How many great minds are working on blockchain? Foundations, IBM. People way smarter than me. As I was heading home on the BART in San Francisco, and I searched for “why doesn’t proof of time solve the double spend problem?” I was still consumed by this idea that time units chained together were the solution to all these crazy consensus mechanisms.
And then I saw “Radix - a DLT based on logical time”. I was like Holy ****!!!
At once I was vindicated, exhilarated, and disappointed. Disappointed, because I thought I was onto something big. I started to dig into the architecture and the material, and realized I wasn’t even close to fleshing this out.
The core of this architecture is wonderful: logical time with merkle trees. Shardable, lightweight. It’s beautiful. Merkle trees are immensely scalable and efficient. Hashed logical time works across networks. And the other layers take care of a lot of potential exploits, communication, dissemination, and provide a robust system. I haven’t gotten into the economic model yet, but easy of fiat transfers and stability of currency are essential. I am in agreement with that. You can make the purest DLT, but if someone has to go to a central authority (a terrible exchange) to buy and sell tokens, who cares? I’d rather the platform make a few sacrifices.
I have a feeling that decentralized ledgers and apps are really important for the future as a bulwark against increasingly centralization of money and power, and control of a few companies of the internet, banking and commerce. The combination of AI and data-hoarding monopolies (including governments) is an existential threat to our way of life. And that’s why I’m passionate about this project. I’m getting to that age, where I want to leave the world a better place.
The breakthrough that Dan and his team have made is truly historic and heroic.
I’ll help out in any way I can. May the force be with you.
Hi Jim, welcome to the community. That’s a cool Radix-discovery story! You’ve obviously thought about this deeply and were onto the same track as Dan and the Radix team. Another great aspect of the Radix team is how they’re approaching it the right way, with patience and not just an eye on the potential personal gains. We’re all looking forward to seeing how it comes to fruition.
Thanks Steve. After learning more about Radix architecture, I realize I wasn’t even close. It’s incredible what Dan and his team have accomplished - a foundational architecture. And I agree with your assessment of Dan and the team. It’ll be fun to watch this platform in action.