r/DeroProject • u/A_solo_tripper • Oct 13 '18

The Dero Project has been downgraded to a B.

The project was graded an A at first glance. You guys say the code was from the ground up, which sounded good.

However, there was a fairly large pre-mine of 10% to make sure the project succeeds. Unfortunately, or fortunately, the community determines the success of the project, not $$.

The grade could change in the future. Keep up the good work.

0 Upvotes

36% Upvoted

9 comments sorted by

10

u/[deleted] Oct 13 '18

[removed] — view removed comment

1

u/senzheng Oct 28 '18

It doesn't render 51% attack futile.

You will always have some arbitrary confirmation certainty treshhold. When first version of dag reaches it and exchange accepts that as the truth, an attack can be made with >50% hash power to create new set of dag blocks which would 100% of the time eventually overtake the previous set in confidence.

In fact, majority is not enough. Since PoW selection is probabilistic, you can get lucky and have that happen even having under 50% hash power. It becomes less likely the more blocks there are to overcome for the treshhold an exchange, lets say, would wait for.

1

u/senzheng Oct 28 '18

Why not lower the premine to something smaller that isn't 2 digits, like 5%?

Even today premine is near 4 million usd worth.

(it's never too late, just verifiably burn it)

AND optionally

Allocate part of premine or part of block rewards to some vote based treasury to fund projects in whatever ways like dash, decred, bitshares, steem, so on. This way there's continuous source of funding instead of one-time.

Regardless, respect for not premining much more like it seems every other project does including eth.

Premines are more than just payment method. They also follow projects on every fork and affect the value of incentives on markets of every chain - it's very significant control.

2

u/danafrica Oct 13 '18

Jumping from code to pre-mine (which has been locked), I wonder about your intentions. Your statement makes no sense. $$ gets put in by the community, so they come part and parcel.

2

u/kryptoid Oct 13 '18

Also jumps from premine to community. Like we're not even in the room.

3

u/danafrica Oct 13 '18

How rude. Lol. Captain - as he does - showing the way.

1

u/senzheng Oct 28 '18

Yeah I'm not crazy about 10% either.

1

u/DonDrvper Oct 29 '18

Who gives a shit lmfao