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RE: BEOS - Alternative proposal for Bitshares 3.0
In the long run, Bitshares 2 will not be able to compete with BEOS. I think it would be illusory to run BTS2 in parallel with BEOS. A DEX needs a lot of liquidity to take-off and there is no point to split it between two clones, BEOS having a total technological advantage. I like your BEOS idea A LOT ! From my point of view, I would prefer to do a pitch fork from BTS2 to BEOS. Imagine, an unlimited tx/sec low latency DEX with no transaction fees (no need for BEOS block producers). The scarcity (value) of Bitshares would result from using it as collateral for BitAssets (like HERO).
I agree and would prefer to pitch fork BTS 2 to BEOS, but this will require getting community consent.
Also, there is benefit to running both BTS 2 and BEOS in parallel during transition phase to ensure BEOS runs well before shutting down BTS 2.
Fun fact. Did you know, I coined the term 'pitch fork'...? as it applies to Blockchain technology anyhow. I had the Larimers laughing out loud with that one in the pre bts 2.0 days... and now it's common parlance. hahaha.
Wow, did not know that :)
First I heard the term was from Stan.
What are your thoughts on my proposal?
dex will require sequential tx processing and there are downsides with bandwidth model because you will keep running out of bandwidth unless you have a lot and thus can't run a bot properly. fee model lets you place orders when you want to at high frequency. bandwidth model tells you when you can place orders.
bts can be upgraded to lower latency dpos 3 form without using bandwidth model or inflation. bandwidth model requires inflation, while bts has no inflation.
What do you mean "bandwidth model requires inflation"?
Bandwidth model just takes your personal amount of VESTs and divides it by the total amount of everyone's VESTs and that's the % of transactions per second you can do.
So if 100 000 transactions per second are possible and I own 1% of all VESTs then I can do 1000 trx/s no?
Where does inflation come into play?
Thanks!
I don't think there will be a problem with bandwidth model provided bot owner has some base tokens staked to reserve required bandwidth.
Transaction fees are an obstacle to adoption and use and removing them is the right thing to do.