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Obyte Witness Overview PDF
Obyte Witness Overview PDF
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DAG VS. BLOCKCHAIN
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DOUBLE-SPENDS
Obyte needs witnesses to be able to prevent double-spends. A transaction is always
referred to by someone else’s transaction. Most of them are referred to by
transactions by unknown users. But some transactions are made by known users
called witnesses. These could be big merchants, exchanges, or just reputable
individuals or organizations.
If a full node sees 2 conflicting transactions, the full node validating them will look for
the 2 transactions’ previously referenced transactions and check if some of those are
created by known users. The transaction with most “witness” referenced transactions
is “best” and the other is deemed invalid. We call these users “witnesses”, because
they “witness” the reality for those who come after them.
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WITNESS DIFFERENCE
A witness is just a regular, frequently posting full node, with one big difference:
the identity of the person or organization running it is publicly known.
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WITNESS REQUIREMENTS
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Have a lot to lose (material and/or nonmaterial) in
case of misbehavior. The loss is trust in your
business (outside Obyte) and/or reputation;
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CONSIDERATIONS - RISKS & BENEFITS
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Consider the following implications if you want to become a witness:
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Your reputation in the real world should not be negatively affected by bad actors
on the Obyte platform, it should only be affected if you misbehave by:
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Right now it’s barely profitable to run a witness, you would do it mostly to help
out the network and set yourself up for a good position in the future;
Helping Obyte to decentralize by becoming one of the first witnesses will most
likely give you a large amount of credit and fans in the community. This can
become important later on when the price of Bytes is much higher and the
payload fees will actually generate a steady income for you.
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REQUIRED INVESTMENTS
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MORE DETAILED INFORMATION
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We threw out miners and introduced witnesses. Doesn’t that make them a new
privileged class?
While miners look at your transactions and decide if they like the transaction or not
(usually based on how much in fees you pay), a witness has no direct influence. It’s
users that look for witnesses to determine the consensus order of transactions.
Witnesses don’t decide anything about individual transactions. They ensure the
integrity of the network simply by being there.
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MORE DETAILED INFORMATION
The platform was set up with 12 witnesses all being the founder, Tony Churyumoff
(Tony). He is, of course, "a highly reputable user with a real-world identity", and totally
trustworthy. But whilst Tony controls the majority of witnesses, Obyte is centralized;
unwelcome in a going-to-become decentralized world. At the time of writing (October
2019) Tony runs 10 witnesses, independents run 2.
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FURTHER RESOURCES
Wiki page about witnesses, including Frequently Asked Questions
Video and written interview with the first independent witness candidate
(community feedback was largely positive and the candidate was added to the witness list
of the default hub)
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INTERESTED IN BEING A WITNESS?
Please let the community know by posting on either
Obyte Discord
http://discord.obyte.org
Obyte Subreddit
https://www.reddit.com/r/obyte
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