Thank you to the Infinity Chain Club for participating in Ask Me Anything (AMA) with IDENA on November 27, 2020. This guest star,
Andrew — CEO Founder and Core Team Member
Here’s our 13th AMA recap!
We are glad to meet here :
Andrew — CEO Founder and Core Team Member
Introduction
Andrew Idena,
Hey, I am Andrew, one of the Idena founders.
I see there are many bounty hunters and crypto believers here. This is why Idena is the right blockchain project for you: It allows anyone to easily start mining and earn rewards just because you are a human being.
Q1. What’s at the core of the idea of Idena?
Andrew Idena,
The main idea of Idena is to enable democratic mining. It allows anyone to join the network and mine easily. No money for a stake or special equipment needed, you just need a laptop with Internet.
When we say that Idena is the first proof-of-person blockchain it means that every node belongs to a certain person and has equal voting power. There is no need in sharing any personal data, just solving special captchas — flips, which are easy for humans and difficult for bots.
Q2. What has Idena achieved so far?
Andrew Idena,
Today Idena is one of the most decentralized blockchains. There are 4700+ miners in the network already. The network has grown to this size from 0 during a year.
Idena is an open source project and we consider our community to be our key achievement. I guess the Idena community is over 10K now. It is hard to calculate, actually, as we have a lot of communities in many languages on various platforms. The Idena app has been already translated into 10 languages, and it is a community effort.
Q3. What makes Proof-of-Person unique, how it differs from other consensus algorithms?
Andrew Idena,
How many of you here are mining Bitcoin or Ethereum or any other cryptocurrencies? PoW/PoS blockchains tend to have concentrated mining where the rich miners become richer and the smaller miners leave. These blockchains are based on the following principle: 1cpu=1vote or 1coin=1vote. In contrast, Idena is based on 1person=1vote principle. Idena is the first Proof-of-Person blockchain in history. Idena enables equal access to mining for all people regardless of their wealth.
Q4. How to start mining Idena? How profitable mining is?
Andrew Idena,
You can easily join Idena now, prove your humanness and start mining. Download the Idena app from our website https://idena.io/ and get an invitation in the Telegram group https://t.me/IdenaNetworkPublic .
Prove that you are not a bot. All you need to do is to be at a certain time online and solve flips.
We anticipate an aggressive growth of the network size during the next year. Currently early miners enjoy high mining rewards. The bigger the network the less mining rewards per each validator, but at the same time the higher the network valuation and the higher the Idena coin (iDNA) price.
You can get rewards for the validation of your humanity, inviting your friends and mining. The older your account in the network the higher rewards.
Q5. At the moment, what is Idena development focused on?
Andrew Idena,
We are currently working on two major components:
1- Sharding phase 1, which will scale the validation ceremony by enabling participants to pass their validation in small segments (shards), but running one single blockchain at a time.
2- Oracles voting — any validated person in the network will be able to perform the function of an Oracle and receive rewards for this.
TWITTER QUESTIONS
Q1. How many chances do you give to a user to prove him identity?
What are the proofs that requires to a user for verification?
https://twitter.com/RahulJayaraj9/status/1331875050274766848
Andrew Idena,
When you join the Idena network for the first time, you get an invitation and participate in the validation session. There are 2 parts of the validation: a short session consists of six flips which should be solved in 2 minutes and a long session that lasts 30 minutes and consists of 25–30 flips. To get validated, your short validation session’s score should be 60% or more.
Read more here: https://idena.io/?view=faq#faq-validation-4
If you fail you can get another invitation and start again.
When you are validated at least four times and have the Total score>=92% you get the Human status and can fail a short and long session without being killed.
Here you can find more about various statuses in Idena:
https://idena.io/?view=faq#faq-validation-6
Q2. Idena says you can have a human status whether you make a good flip or not. If the same bad flip is used to decide someone’s status, how are these not correlated?
https://twitter.com/Shabbir30260554/status/1332191256902963203
Andrew Idena,
We define whether you are human or not by your ability to solve flips and not to make them, right.
Bad flip are not paid for. And they can do no harm. The network needs to come to a consensus about the right answer to the flip. If the flip is bad then consensus will not be reached and the flip will be disqualified. Answers for such disqualified flips are not counted.
There is also an opportunity to report a bad flip — with inappropriate content, text or no story.
Q3. PoW is known as the most secure mechanism known. Can PoP compete directly with this technology?
https://twitter.com/Ontortk/status/1331868822475706369
Andrew Idena,
PoW is a plutocratic system where big miners collude to increase their revenue in pools. It’s not profitable to mine bitcoins outside of a pool for small miners. Bitcoin was invented to decentralize production and distribution of money. However selfish mining made bitcoin mining centralized. PoW is not that secure as it seems. Several mining pools control more than 50% of Bitcoin hashrate.
PoP is a much more decentralized system where every participant has equal mining rewards and equal rights of producing blocks. Currently you need to coordinate around 4k people to make a 51% attack to Idena mining. The more people join the PoP mining the more secure it becomes.
Q4. Why does Idena Network choose its own blockchain over eth-based blockchain like other tokens
https://twitter.com/thanhhoai91/status/1332217441443844096
Andrew Idena,
The Idena validation ceremony is a mission critical task. It requires a maximum blockchain performance and the network synchronization. None of the existing blockchains can provide it. We cannot tolerate Crypokitties to break the system.
High fees is another issue for Eth-based validation. The Idena blockchain enables free transactions for the validation ceremony.
Q5. — Why does a person have to be validated every time there is a validation? If a person proved to be human, how could they “stop being human” and need a new validation?
https://twitter.com/Winterkom/status/1332050521390276608
Andrew Idena,
The human status of a participant cannot be forever. It expires when the next epoch starts. Old participants should prolong their validation status for every new epoch along with the new members of the network.
The validation needs to be repeated in order to re-validate all old participants and to verify the uniqueness of the new participants. This is how the network can grow.
Otherwise, it would be possible to verify a different account at each of the next validation ceremonies.
TELEGRAM QUESTIONS
Q1. From @nadernewell
Too many projects promise magic but never release any working product or prove any revenue, Within a short/long time of release. Is your project also like this? If not can u tell us, What makes your project different from other projects?
Andrew Idena,
Winner N 1. Idena has already been live for 1 year. You can check Github for constant activity of the dev team: https://github.com/orgs/idena-network/
Q2. From @NoyonBoss3
To join Idena network, a new person must get an invitation from a validated participant….so Is it safe to get an invitation from an unknown person?
Andrew Idena,
Winner N2: If you are invited by a person you don’t know you take a risk of losing your Idena account: The person who invites you can terminate your identity during the next several epochs before your status is “Verified”. Invitations should be granted for free by trusted people only (relatives, friends, and so on).
Q3. From @real_janewat
What are the suitable devices for mining IDENA tokens? Do you have to use hardware or something?
Q4. From @lahkoklu
Has Idena ever solved the blockchain oracle problem? and whether we should verify the data (kyc) like the others.
Andrew Idena,
Winner N4: Idena is based on the proof-of-person Sybil-protection mechanism. It is essentially a ready-made network of oracles. Each node has equal voting power and belongs to a certain individual. With appropriate economic incentives they can be used to verify objective facts on the blockchain in order to make this data available to other smart contracts or offchain apps.
No KYC needed — just a validated Idena account!
Q5. From @resa46
Can you explain to us, why person has to be validated every time there is validation? How does the validation system work in IDENA? How are transactions validated?
Andrew Idena,
Winner N5: The validation needs to be repeated in order to re-validate all old participants and to verify the uniqueness of the new participants. This is how the network can grow.
>How does the validation system work in IDENA
Every participant has to appear online exactly at the same time across the world and solve 6 captchas (FLIPS) in less than 10 minutes. Once you do it you become the validated miner for the upcoming epoch.
Follow instructions to try it out:
https://idena.io/?view=faq
>How are transactions validated?
Miners keep their nodes online and certify block proposals by voting.
- Telegram : https://t.me/IdenaNetworkPublic
- Twitter : https://twitter.com/IdenaNetwork
- Medium : https://medium.com/@idena.network
- Website : https://idena.io
- Github : https://github.com/idena-network
- Reddit : https://www.reddit.com/r/Idena/
- Discord : https://discord.gg/8BusRj7
Thank you for trusting Infinity Chain Club as the organizer of the event today, hopefully everyone can understand about IDENA.
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