Below is a recap of Q&A from Masari’s first AMA (ask me anything) on Reddit. They are listed in descending order of upvotes for the original question.
Any sort of rough plan or timeframe for ledger nano S integration? — (u/pflmagic)
All the necessary components needed for Ledger integration are in place, and we have a tentative q4 2018 timeline. — (response by Thaer)
How will uncle mining affect the time it takes to reach tail emission? If miners are being rewarded with uncle blocks, wouldn’t this cause the 18.5 million MSR to be reached faster than the scheduled 10 years? — (u/surgingchaos)
You’re correct in observing that uncle mining would introduce rewards into the system that would affect the emission rate directly. These rewards however are partial, and would be designed in a way such that it doesn’t incentivise uncle mining. One thing we would do for example is incorporate the uncle into the difficulty calculation, and difficulty would adjust accordingly in order to reach the correct emission rate. With something like this in place, it would mean that we would roughly take the same amount of time to reach tail emission, but have “captured” uncle blocks in the process without disrupting the network. — (response by Thaer)
Would it be possible to design a proof of work that would not allow a single pool to submit over 50% of the network hash? If so would Masari consider going that route? — (u/TacoBond)
As far as we know, no that is not possible. When talking about this kind of thing you have to remember that pools submit blocks to the network the same way any other node does and are seen by the network the same way as any other node is seen, with the exception that it probably finds a lot more blocks. You could try to limit the amount of blocks that a peer could submit in a certain time frame or something like that but it would be very simple for a pool to just setup another node and act like 2 separate entities in the eyes of the network even though they are really working together controlled by a pool. So the short answer is no, miner centralization is an inherent risk of proof-of-work. — (response by Cryptochangements)
Hey guys great work you are doing! My question would he how far off you are in regards to mobile wallet release? — (u/drk__ane)
There is currently a mobile wallet in beta/testing. It’s just very, very fresh. We have to do further testing on it, but it should be available publicly by August 15.
You can check out the beta at: https://github.com/masari-project/masari-webwallet/releases/tag/0.01 (freshly released ! :) ) — (response by Gnock)
@Thaer: what are your plans with Masari after the current roadmap is completed? Does development stop or do you want to keep developing masari as long as possible?
Is your goal still to make Masari a little brother of Monero or are you willing to make Masari slowly but steady a whole unique project on it’s own? (Like Monero did after forking from Bytecoin)
What kind of new or unique feutures which are not in the current roadmap would you like to introduce to Masari?
Did you already started to work on Blocktree, how confident are you that you and the team can make Masari scale to a serious number of tps?
When do you consider POS proven and is there a slight possibility that Masari will be a POW and POS coin in the future so non miners can help to protect the network too? POW already proved that it can be problemetic for small coins meanwhile I never heart of serious problems with small POS coins…(u/bobbulleken)
Development on Masari will continue. Currently the end of the roadmap is a whitepaper (WP) on the Blocktree protocol, after which there will need to be development of the protocol, and in milestone stages.
We’re a fork of Monero, and while inherently a “little brother”, over time we would be a distinguishable coin in terms of technology being used (as Litecoin is to Bitcoin)
There are minor things like Ledger support, but for more major things, the roadmap would expand once it’s complete. With the WP for example, the protocol it would propose is expandable and a subsequent WP will build on top of prior developments (i.e. going from partially asynchronous to fully asynchronous).
The core details of the Blocktree protocol have been worked out, and with high confidence I believe it’s a feasible protocol. However, once a WP is drafted, peer review will allow us to go through it in more detail and open it to critique that would expose any flaws and propose improvements.
I don’t consider PoS proven. As a reminder, the cryptocurrency era is only ~10 years old, and what has been proven so far is PoW. While PoS might be doable, it itself is a form of exploitable centralization that needs to be addressed, which needs more time to prove itself against adversarial behaviour, and if/when that happens I would gladly change my position. TL;DR is that Masari will not be considering PoS in the near future. — (response by Thaer)
What exactly are the differences vs Monero currently?
What makes Masari different and why should someone support the project? I do not consider “be what Litecoin is to Bitcoin, for Monero” a satisfying answer. (u/Jonas_h)
Current differences from Monero include:
- Static mixin and ring size from the genesis block.
- Offering a fully client-side web wallet.
- Pioneering difficulty adjustment algorithms WWHM and LWMA
- CN-Fast developed and rolled out as algorithm.
Future differences will include:
- Uncle Mining (actively developed now)
In terms of why support the project, there are a variety of reasons to support Masari. First being the deficit of coins in the space that offer true privacy and fungibility. If you look at all of crypto, less than .5% can legitimately claim fungibility. I’d say the number of coins offering actual privacy is the same, but I haven’t looked into all the coins that purport to have privacy.
Second PoW is how crypto all started. If you’re not aware, small cap PoW coins are constantly under attack. Whether it’s asics, nicehash, bad pools or bad actors, starting a PoW coin from the ground up is a major challenge. We’ve already navigated all of the attacks above and are still standing. Personally I think PoW is the best method for decentralized consensus, and Masari is committed to PoW.
Finally, the advances Masari plans on rolling out are needed for the space. High TPS is easy to achieve in a controlled node environment like EOS or NEO. It’s a whole different ball game when you’re discussing PoW, particularly CN/RCT coins. If Masari can provide high TPS solutions, it will help keep the privacy coin space in the game. I don’t know if you’ve sent Monero before but it’s a long and expensive process. Bulletproofs will reduce the cost, but without sharding or a Blocktree protocol, the tx speed will always be slow.
There is little reason to think the private ledger space doesn’t need options other than Monero. As crypto gains in global popularity, people aren’t going to want anyone with an internet connection to be able to check their wallet balance. CN/RCT are the only coins that obfuscate data to keep your ledger balance private. In my opinion, this is a needed feature for digital money management. I know I don’t want a target on my back because anyone can see my wallet balance.
Sticking with Masari’s ethos of simple, scalable, secure, we are aiming to make using Masari as simple and noob friendly as possible. User experience is a big part of our project goals on the front end, and u/gnock_ is doing a fantastic job at working towards making Masari as simple as possible.
In short, we’re a no ICO PoW coin that has taken its lumps and still keeps on developing. With Blocktree, Uncle Mining, and a simple design process, our goal is to provide a fast and easy way to transact privately. If that sounds good to you, then we welcome your support. — (response by LoDoCrypto)
1.)Typically the whitepaper is the first thing that comes with a project. With the idea of Blocktree announced as the scalability feature, is the delay in the WP basically to nail down the exact implementation of the Block tree protocol first, before publishing?
2.) What is your future plans in regards to exchanges. Right now the main platform is Tradeogre, which is nice for now, but for real visibility and liquidity Masari needs more volume. Is your position to get the Whitepaper out first before really pushing for a top 10 exchange? That way we have the opportunity for them to approach us as opposed to buy our way on? (u/Bluepic12)
- You’re correct, however most of those whitepapers you see are equivalent to advertisement pamphlets masking the fact that they’re a fork of another coin. Masari is a fork of Monero, leveraging the RingCT (https://lab.getmonero.org/pubs/MRL-0005.pdf) and CryptoNote (https://cryptonote.org/whitepaper.pdf) protocols, both of which have articles that we can just reference (instead of prettifying in a “whitepaper” pamphlet, which also has been plagiarism in most cases). The Blocktree proposal will introduce a protocol that should be implementation ready, which will need time to subsequently nail down the exact details so that we’re introducing a secure feature in the network.
2a) The exchanges are there because the community wants to trade Masari (MSR). I’ll never tell anybody to buy MSR, and if someone asks for such financial advice my response will be “don’t buy MSR”. With all that said, liquidity is important for people, and as we get more established as a coin, higher liquidity would be subsequently needed, which would ultimately hit top 10 exchanges (without us paying an arm and a leg for it) because there is enough demand for it to be so, and it’s in their financial incentive to add trading pairs since they’d profit off the fees collected.
2b) With respect to efforts on getting listed, Jeff (BazookaJeff) and others behind the scenes have worked hard on this and reached out to many exchanges, with some top 10 exchanges coming back to us asking upwards of 60 BTC, which is not feasible. There are plenty of exchanges that list on merit, and high volume ones like Bittrex and Poloniex would list for free when they see value in listing such a coin as MSR. (response by Thaer)
Additional response from BazookaJeff:
To answer the second question, the aim is to go after a larger exchange after uncle mining is implemented. In this way, we can offer more in terms of our unique technology. Top 10 exchanges will come but you are correct in your assessment that the whitepaper would need to be out first as well as other enhancements such as blocktree sharding. For now, there are some efforts being made to get on to some decentralized exchanges and or medium sized exchanges. We did inquire about larger exchanges that charge to list such as HitBTC but the cost was upwards of 60 BTC so it was not a feasible choice.
Hi team. How do you guys plan to decentralize the hashrate more evenly? I know it is recently coming up a lot. (u/Cartman2017)
We’re trying to be as creative as possible in dealing with pool centralization, without acting as a central authority. Ideally, the miner marketplace will sort itself out, but new entrants to mining tend to go right to the pool with the most hash. This isn’t the best route financially, as their payouts will be more frequent, but smaller.
Some of the options we’re looking at include: endorsing pools, social incentives to spread hash, and working with pool aggregate sites on their listing process. There are no easy solutions for this issue, but I assure you we want the network to be as decentralized as possible. — (response by LoDoCrypto)
How does Masari plan to continue to fund development once the current funds dry up? Will there be an FFS style system put in place for Masari? Would love to see that!
What will be Masari’s plan on implementing future improvements from Monero? How about merging Masari’s improvements upstream into Monero? (u/fort3hlulz)
- the Masari fund has for the most part remained untouched and has only had one transaction so far. This has left about 93k MSR in the development fund which should last a while. In addition, with the new Masari Pay, we do have a semblance of a FFS style system. In all, this should take care of our funding for the foreseeable future.
- Masari will track any developments made by Monero and integrate improvements when available. Likewise, Masari will also contribute back upstream to Monero. In turn, we hope to cultivate a benevolent relationship with Monero. (response by BazookaJeff)
How much funds do you have in the community wallets? (u/G-tec)
We have two types of funds, the dev and exchange fund:
In the dev fund, we have about 5 BTC and ~93k MSR as of date.
In the exchange fund, we have about 0.11 BTC and 50 MSR. — (response by Thaer)
How does Masari plan to solve the scaling issues that are attached to Monero? And how soon will Masari be on an exchange with real liquidity? (u/ProgrammaticallyHip)
It depends on which aspects you’re relating to with respect to Monero? Monero has developers working on on-chain and off-chain scalability, some of which is aligned with Masari’s roadmap and some isn’t.
For example, scalability with regards to transaction size have been addressed and audited via Bulletproofs, which is something we’re enabling in the next protocol upgrade.
Other things, like network scale in general, is in Monero currently being tackled via off-chain solutions that involve MimbleWimble, and is really promising. However, we’ve committed in Masari to on-chain scalability initiatives with work on introducing a Blocktree proposal, and this is a different path that we’ll see where it takes us. (response by Thaer)
Do you plan on enabling merge mining in the future should another coin switch to your algo or you switch to theirs? (u/aironeous)
So far several other coins have adopted our PoW algorithm, cryptonight-fast, but we have no intention of doing merged mining. If one of those or any other coin wants to use our chain as a parent chain then they certainly can but we have no intention of becoming another coin’s auxiliary chain. — (response by Cryptochangements)
What would the Masari rich list look like? As in how many wallets exist, what percentage own over 10,000, 5000, 1000, 500, 100, 10 masari (I’m aware this info probably isn’t available but if you had to guesstimate).. (u/grrsed)
https://imgur.com/gallery/f7xboOy (response by LoDoCrypto)
What is the current TPS and what is the TPS goal? (u/Gr8WallofChinatown)
Current network’s TPS is fairly low due to it being a small altcoin. We have dynamic block sizes, so we’re already capable of a reasonably high throughput, however would hit extremely large block sizes at some point (assuming a large network effect at play) which would make block propagation in order to achieve consensus difficult, causing nodes to fall behind as they get bottlenecked by CPU and network constraints.
This is to be addressed via the Blocktree protocol, as it minimizes block sizes while at the same time allowing parallel blocks to be mined, with the tree splitting dynamically based on throughput requirements (similarly dynamic in a way to how we currently resize blocks). — (response by Thaer)
Can you talk a little about any plans for masaris use in the real world, point of sale payment methods etc
I know plans are in the works for a mobile wallet, but are there any plans for integration into card payment terminals, or any other third party payment systems? (u/pedropolis_crypto)
We’ve reached out to some crypto payment processing sites, as u/bazookajeff eluded to in an earlier response. The money required to be listed was really high, and at this stage of Masari’s life it’s not worth paying $50,000 for a year on coinpayments.net.
Fortunately u/gnock_ is very talented when it comes to payment processing. He has a lot of experience in the field within traditional business and has great ideas. Once we hit our development benchmarks on the roadmap, we’re going to focus much more on the usability of Masari.
Personally I’ve been dipping my toes into seeing how Masari can be introduced to local recreational dispensaries, but a lot of the business owners are hesitant to try anything that would jeopardize their license. So that’s a bit of an uphill battle. (response by LoDoCrypto)
Hello Thaer, would you consider getting a Slack for non techy peeps maybe? (u/thegeminitroubledguy)
We had a Slack in the past but it was least popular compared to Discord so we deprecated it.
Discord is actually very user friendly, feel free to join us: https://discord.gg/sMCwMqs
Our Telegram is also quite lively (and meme heavy): https://t.me/masaricurrency — (response by Thaer)
Hi, what concrete actions are you planning to get rid of the 62% hash-power of the miner.blocks pool? (u/Endogen)
Hi, someone asked about it up the thread, here was the reply:
There is nothing concrete in play right now. Keep in mind the core team doesn’t want to be a central authority on mining activities. We can’t/don’t want to restrict mining options, nor do we want to single out a pool because of their hash rate.
The miner to hash rate ratio on that pool is disproportionate to what we see on other pools. So that implies there are some larger rigs mining to it, rather than a collection of small miners. Therefore the best route in handling the pool issue would be to attract more miners who spread their hash across other pools, but there’s no guarantee new miners would avoid the biggest pool. (response by LoDoCrypto)