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Various small clarifications

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Ignotus Peverell 2018-05-28 00:27:28 +01:00 committed by GitHub
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@ -18,7 +18,7 @@ As explained in the previous section, thanks to the MimbleWimble transaction and
Pushing that further, between blocks, most outputs end up being spent sooner or later by another input. So *all spent outputs can be safely removed*. And the whole blockchain can be stored, downloaded and fully verified in just a few gigabytes or less (assuming a number of transactions similar to bitcoin). Pushing that further, between blocks, most outputs end up being spent sooner or later by another input. So *all spent outputs can be safely removed*. And the whole blockchain can be stored, downloaded and fully verified in just a few gigabytes or less (assuming a number of transactions similar to bitcoin).
This means that the Grin blockchain scales with the number of users (unspent outputs), not the number of transactions. At the moment, there is one caveat to that: a small piece of data (called a *kernel*, over about 100 bytes) needs to stay around for each transaction. But we're working on optimizing that as well. This means that the Grin blockchain scales with the number of users (unspent outputs), not the number of transactions. At the moment, there is one caveat to that: a small piece of data (called a *kernel*, about 100 bytes) needs to stay around for each transaction. But we're working on optimizing that as well.
## Scripting ## Scripting
@ -31,13 +31,13 @@ Maybe you've heard that MimbleWimble doesn't support scripts. And in some way, t
## Emmission Rate ## Emmission Rate
Bitcoin's 10 minute block time has its initial 50 btc reward cut in half every 4 years until there are 21 million bitcoin in circulation. Grin's emission rate is linear, meaning it never drops. The block reward is currently set at 50 grin with a block goal of 60 seconds. Bitcoin's 10 minute block time has its initial 50 btc reward cut in half every 4 years until there are 21 million bitcoin in circulation. Grin's emission rate is linear, meaning it never drops. The block reward is currently set at 50 grin with a block goal of 60 seconds. This still works because 1) dilution trends toward zero and 2) a non-negligible amount of coins gets lost or destroyed every year.
## FAQ ## FAQ
### Wait, what!? No address? ### Wait, what!? No address?
Nope, no address. All outputs in Grin are unique and have no common data with any previous output. Instead of relying on a known address to send money, transactions have to be built interactively, with two (or more) wallets exchanging data with one another. Practically speaking, this isn't so much of a problem as there are multiple ways for two programs to interact privately and securely. This interaction could even take place over email or Signal (or carrier pigeons). Nope, no address. All outputs in Grin are unique and have no common data with any previous output. Instead of relying on a known address to send money, transactions have to be built interactively, with two (or more) wallets exchanging data with one another. This interaction **does not require both parties to be online at the same time**. Practically speaking, there are many ways for two programs to interact privately and securely. This interaction could even take place over email or Signal (or carrier pigeons).
### If transaction information gets removed, can't I just cheat and create money? ### If transaction information gets removed, can't I just cheat and create money?
@ -47,6 +47,8 @@ No, and this is where MimbleWimble and Grin shine. Confidential transactions are
You can figure out which outputs are being spent by which transaction, but the trail of data stops here. All inputs and outputs look like random pieces of data, so you can't tell if the money was transferred, still belongs to the same person, which output is the actual transfer and which is the change, etc. Grin transactions are built with *no identifiable piece of information*. You can figure out which outputs are being spent by which transaction, but the trail of data stops here. All inputs and outputs look like random pieces of data, so you can't tell if the money was transferred, still belongs to the same person, which output is the actual transfer and which is the change, etc. Grin transactions are built with *no identifiable piece of information*.
In addition, Grin leverages [Dandelion relay](dandelion/dandelion.md), which provides additional anonimity as to which IP or client the transaction originated from, and allows for transactions to be aggregated.
### What about the quantum computaggedon? ### What about the quantum computaggedon?
In every Grin output, we also include a bit of hashed data, which is quantum safe. If quantum computing was to become a reality, we can safely introduce additional verification that would protect existing coins from being hacked. In every Grin output, we also include a bit of hashed data, which is quantum safe. If quantum computing was to become a reality, we can safely introduce additional verification that would protect existing coins from being hacked.