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toychain/docs/notes.md

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layout base
simple ../

Design Notes

Initial design choices

  • note that serialization with JSON doesn't guarante key's order when using maps, so for CAS storage yaml is prefered
  • server-side fileformat : yaml
  • client-side fileformat : JSON

Language choice:

serverside: perl (or nodejs) clienside: javascript

block chain structure

minimally sized blocks :

  • segreated signature, timestamp, audit etc.
  • block: {address, previous, pow}
  • use balances for state rather than TXO to avoid the need keep txo states, and link txi to utxo

Networking layer choise

initally we thought websocket would be the simple choice for the P2P network, however the protocol implementation in perl is a little cumbersome, so we fall back to simple tcp sockets, no ssl support for the first version !

  • blocking socket

next version :

  • protocol/routing/network layer: websockets (multi nonblocking clients)

observation ...

  • revokable block if sign w/ a DH on txo and ECDSA on txi

  • txroot (merkle root can be global)

  • PoW is to slow down chainupdate to avois spam

  • consensus is on the longest length

  • /!\ maximal work is hackable (as pow is exponential to difficulties)

  • sort of tx sequence can be done on node side

  • block chain can store tx out of order (FIFO style)

  • does mining really need to be conpetitive ?

  • if mining is done by all node the recipient of txo will be willing to mine!

  • if a .2% tax on transaction can replace/solve all VAT taxes then mining rewards is "artificially" inflated to compensate for a wasteful technology

  • nano-trading is stealing (i.e. taking advantage of who has the power to be informed fast) on need to put a "lowpass" filter on trading : speculation is necessary for long term protection against future uncertainty... short term predicition make no sense !

    long unpredictable queue time (mempools) can deter speculator as it would be like "lotery" lotery is a "gamified" tax extractor.

  • PoW can be replaced by ZK proof of some Work

  • should it be txo which carries the burden of proof of work ?

  • validator already do a great job making the system "alive"

  • block reward could be proportional to the number of tx in the block i.e. the "real" work is indeed the verif not a hash-puzzle.

  • How to mitigate DDoS on Mempool ? why would we want making block more and more difficult to add when technology advance ??? (how to make spice of spamming constant through technology ?)

misc & links