What I Think I Like About Respectonomy's Whitepaper
I'm not an expert in studying whitepapers, but there seems to be some novel ideas found in the Respectonomy whitepaper that are quite interesting to me. Despite its mix of free-to-play and pay-to-play (I could be wrong here), their focus on the concept of "respecting" content itself may draw certain-type of content creators with such a straight-forward name.
Respectonomy is designed to implement an open social network in a layer above a peer-to-peer network built using BitTorrent-like protocol, that runs using a blockchain.
I don't even know how it'll work or if I even understood the mission of Respectonomy yet, but I like some of the solutions they've proposed to solve the problem of expensive data bloat. The size of nodes maintaining a social-media platform blockchain will inevitably grow large over time. Instead of burdening the network with everybody's data, curators / vouchers will be the only ones seeding the content. The earliest curator (or seeder) will be the one receiving the most "respect" if it were to be accesssed by others.
Respectonomy modifies the bittorrent protocol to only host content with users that endorse it; when users ‘share’ a content they become a seed in a sub-network of only those respectonomy users that have shared that content. Thus, only the supporters of a content bear the burden for hosting it.
Here's another interesting part that seems profound, but then I'm pretty much just reading words / squiggles on the screen here like a mindless zombie!
Some social networks try to determine the desirability and reliability of data by votes. When extreme downvotes are received the content is often censored. The problem in this scenario is sybil attack. The power to upvote can be easily replicated using bots and sock-puppet accounts.
A proof-of-work blockchain offers a solution to this as described in the hashcash protocol. The stake of tokens earned through proof-of-work then represents an identity’s reputation. The premise of this representation is that an individual identity is indistinguishable from multiple identities encapsulated as one. Rather than trying to solve it, the system assumes it.
Haven't had much time to really think about this whitepaper, just saw @wingz posted it on Steemit.chat yesterday and I went through it during my toilet break lol. What do you think about it? Here's the whitepaper: https://respectonomy.com/Whitepaper.pdf
Sounds like it's going to be a somewhat slow network.. anyway -
It's Lunar New Year today and I'm rushing to head out soon to visit friends and all. Best wishes to you guys!
On this point from the whitepaper:
"Others tried to decentralize the data-storage aspect of publishing by attempting to store data on the blockchain such as Alexandria, or using distributed databases such as Akasha that uses IPFS, whereas some like Steem use both. In such systems users bear the burden of storing data for using the system since fee analysis shows that blockchains are not free databases."
I'd argue Steem is solving this problem elegantly via the "witness" role. Witnesses are paid a reward to bear the burden of storing copies of the blockchain (running full nodes). Regular users that go through a hosted frontend (like steemit.com) do not have to bear that burden since there are no transactional fees. Instead, only users that wish to run a full node must have the infrastructure to handle the growing size of the chain.
Thanks for the input @robrigo :)
Not an expert on hardware, so I'm just left thinking what if activities on Steemit surpasses Reddit, is it really that easy to support such a network? What i like about the solution above is that authors/endorsers are the only ones hosting the content. Not sure if that's actually a great idea, but when I think of spammers, if they want it existing in the network, they'd need to support their spammy contents by hosting it indefinitely. The same goes to content creators that are serious about their stuff. Maybe a halfway solution would help out with the bloat - but that's for some other time. Steem's blockchain size is still quite small atm :)
My first impressions when looking at their team page, only one picture of the founder.... Miss Budchai...
...then her anonymous team... with such characters as 'FireBird' 'Thunder Bolt' and 'Fantastic Mr. Fox'...
Like, what the FUCK... really?
As for the whitepaper, to be honest it was pretty convoluted, I had a whisper of understanding here and there.
Notably the storage issue of a decentralized social network. Then they started talking about bittorrent, pay-to-play, solving the problem of trolls and making valuing content more 'objectively'.
I dunno maybe something like this would work as a potential YouTube competitor with some random revenue streams. Isn't that what Decent is doing. Isn't storage what Storj is doing?
Ultimately it was incredibly confusing, like trying to piece together a bunch of random crypto puzzle pieces to create a SUPER CRYPTO puzzle.
Smells like an ICO scam to me.
https://respectonomy.com/team
Enjoy the Lunar New Year!
I think Steem has solved the sybil attack problem pretty well for a f2p system. Think anyone reading that would be confused too lol. Thought there would be something noteworthy since this essentially an attempt after many various proposals like Yours, Synereo, and the already-operating Steem.
Lol this is the problen with complete anonimity.. unless those names are already well known in certain circles, but still..
Maybe they were just being romantics - the spirit of cypherpunks?
Lol reread it again and this is super funny!
Maybe they are being romantic... :P
I just think ICO's are getting pretty dangerous these days and their whitepaper reads like some kind of 'unified crypto theory' with anon developers.
It's like they went into the kitchen and sprinkled a little bit of everything into their magic crypto sauce...
Albeit this is just my first impression, I imagine there's probably a lot more below the surface :)
Will see what they come up with.. 4 days til ICO. 2000 btcs sounds a bit too much with nothing much to show yet though
Vaporware. They need to lose the porn star nicknames before people will take them seriously.
Lol.. now that you mention it..
I would have said "vaporware" too, just like @donkeypong, but then I stopped to think for a while. From a technical point of view, "vaporware" is incorrect. Their technology (i.e. a decentralized social network built on top of torrents, backed by a blockchain) is quite good and promising. OP_RETURN is a thing with which you can build such stuff even on the Bitcoin blockchain (very primitive, I agree, but you can). What they ignore, though, is the fact that technology by itself won't draw people in. What it's lacking from their value proposition is what is the problem they actually solve. Looks like they found a hammer and now everything they see looks like a nail.
So it's not even vaporware, it's a bit less.
I think the paper may appeal to those who are familiar with btc and bittorent though.. perhaps that's something that'll get it going, although it's possible those aren't the best solutions for what they're trying to achieve. Can't wait to see their solution for content upkeeping when it goes live :) I think it makes good sense for endorsers to host the content itself, and quite a good way to manage spam too.
I want to learn more about this, thanks for sharing and informing us about this! I need to learn more. I need to think about some more and re-read it too.
Namaste :)
Thanks to wingz talking bout it, so i thought there are some ideas which may help steem in the future. Best to look around and learn may be beneficial :)
Hope you are having a great new year.
Happy new year buddy @ace108! Gong xi fat chai :)
Thank you