Safe Exchange proposal for new network

dandabek · September 24, 2016, 2:39pm

safex/proposals/blob/master/newnetworkproposal.md

### New Network Software Proposal

September 2016

xordaniel@gmail.com

## Introduction
This document is presented to introduce a plan to consolidate exposure to third party risk for Safe Exchange Coin holders. It outlines some parameters and features needed with the intention to construct a network and transaction software that is persistent anonymous and distributed. 

A proposal on http://vote.safe.exchange that points to this outline will be active October 3, 2016 and request Safe Exchange Coin holders to vote "yes" if they should agree that third party risk should be reduced and development of backend software be produced by the Safe Exchange developer. 

If a vote of "no" is majority then the Safe Exchange developer will be required to exclusively build against the previously indicated third party network software.

Safe Exchange Coin holders will have until October 18, 2016 to submit their opinion. A majority of voters will indicate the outcome of the voting. 

For example: if 10% of Safe Exchange Coins are accounted for in the voting by October 18, 2016... and 51% of those holders voted "yes" then the proposal will pass. Abstaining from voting indicates no interest.


## Destination
The Safe Exchange Project intends to produce a client software that interfaces with a decentralized and anonymous persistent data delivery network. This network must maintain the anonymity of participants and also be able to store structured cryptographic payloads. The payloads stored within the data structure can include trade details of physical goods as well as digital cryptographic assets.

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Let’s give the world what they need. Support Safe Exchange that we should build our own safe network by voting “yes” to our focusing fire on our own implementations.

Proposal voting commences October 3, 2016 until October 18, 2016.

framelalife · September 24, 2016, 9:29pm

So, if this proposal is passed, SEC will not perform on the Safe Network? SEC will have it’s own blockchain?

troya · September 24, 2016, 11:25pm

great job daniel, i will be voting “Yes” on Oct 3. until then i will try to add to my voting weight

dandabek · September 25, 2016, 12:01pm

If the proposal is passed we will not depend on safe network.

SEC will have it’s own blockchain that is correct.

needadime · September 25, 2016, 5:18pm

im glad ur doing ur thing Dally
i have the good feeling on my investment

dyamanaka · September 25, 2016, 6:03pm

I remember an interview with @we-advance back in Jan 2016. During that interview I said… “I’m in favor of whatever works!”

https://youtu.be/OLOT86NpKjk?t=43m53s

I’ve always held that position. If @dallyshalla believes SAFEX can work without a third party network, then let’s do it.

I will be voting “yes.”

Maybe, we can do a video chat with @we-advance and answer some questions people might have. When you’re ready…

If we make our own SAFEX blockchain, what is the reward incentive for mining?
If there is a reward for mining, will there be a “new” coin and cap?
Or can we use SEC (Safe Exchang Coins) to pay for SAFEX fees?
How will current SEC holders make their ROI (Return on Investment)?
How is SAFEX different from other cryptocoin “exchanges” like https://shapeshift.io/#/coins?
Does an independent SAFEX blockchain require more funding?

EDIT: Some of these questions have answers in your recent interview, see below.

https://www.youtube.com/watch?v=CIG2Waz3MoI

dandabek · September 25, 2016, 6:43pm

Many of these logistics I want to discuss definitely to have a well planned system. I want to also keep it at logistic level and keep implementation details to myself as far as the “how” this is going to go live. Sure it may seem foggy but I hope that is ok, since I want to be the one to launch this. Sometimes things are obvious to you and once you speak them you lose traction someone beats you to the punch. Loose lips sink ships. 100% open to discussing and vetting ideas such as how much % to reward SEC holders of the new chain, how much % of transaction fees to award client interface developers, and to discuss inflation models for mining rewards. Grateful to @dyamanaka let’s score finally.

I do plan a new name for this blockchain network, I will release it with accompanying logo pending the vote outcome.

We will definitely need a new coin parallel to Safe Exchange Coin

A percentage of initial coins from the blockchain network will be distributed to Safe Exchange Coin holders, as part of ROI.
And from transaction fees through the client interface that is designated as the Safe Exchange client.

we are distributed, decentralized and private

No additional funding is expected at all, I still have budget to build the backend and push it forward.

dyamanaka · September 25, 2016, 6:48pm

I’m okay with that. I think it’s rude to tell the chef how to do his job. If the meal is great, you will have my continued support.

troya · September 25, 2016, 11:46pm

@dallyshalla when are you going to be doing snapshot of holder balances for this proposal? btw vote.forum.safex.org is empty, showing only two buttons but no content…

dandabek · September 26, 2016, 4:38am

The snapshot will be on October 3rd 2016,

The rust server got overloaded with requests, against that I am adding a “recaptcha”; completely expected that to happen at some point (server crash) until I pushed the recaptcha.

c_fox · September 26, 2016, 12:07pm

Does that mean I have to move the coins from bittrex to an address of which I control the private key?

dandabek · September 26, 2016, 12:56pm

Yes that’s correct otherwise you won’t be able to form a vote

framelalife · September 26, 2016, 9:53pm

Thanks for the update and answers. I’ll be voting yes

ForumTum · September 27, 2016, 5:27pm

@dallyshalla, I’ve watched LIFE IS PEOPLE #176 twice and liked it, but I’m still not 100% clear about everything I’ll need to do to prove my ownership of SEC so that I can vote.

Any chance of a written step-by step description of what to do - for total dummies like me - before it’s voting day?

dandabek · September 27, 2016, 7:01pm

@forumtum, definitely the commandline part of it surely may of threw you off, and I haven’t given any written instructions to use it.

Long story short:
You just need the SEC on an address to which you possess the private key.

The application I built handles the rest from your desktop.

Download proposal file
Open Voting App
Use voting app with the proposal file + private key
Choose your vote
save the vote file
upload vote file to the website: http://vote.forum.safex.org
done.

This is an informal instructions and they are not far off from what you will actually need to do to establish your ownership and selection

ForumTum · September 27, 2016, 7:57pm

Thanks @dallyshalla, that’s just what I needed. And the private key stays offline and secure throughout - have I got that right?

dandabek · September 27, 2016, 8:08pm

Yes the Vote part of the app is 100% offline.

The proposal maker does connect to omniwallet.org API to fetch the list of coin owners. So proposal app does go online just only for that, voting app does not go online ever at all.

Nothing from either app is transmitting any of your private key info. You can check the source code, and we will provide a the hash of the compiled from source to the binary of each app to verify security of the application before and after download. Source code is at https://github.com/safex/vote/tree/master/ui

yitz · September 28, 2016, 11:30am

Can you please write an instruction for us who has our SEC on bittrex and found previous instructions with onmniwallet to technical ?

dandabek · September 28, 2016, 8:42pm

I will be sure to make a video instructions for this over the next few days and post the youtube link.

DavidMc0 · September 29, 2016, 10:50am

I’m undecided as to which way to vote.

My ideal would be for Safex to be on the Safe Network, but it’s sensible to diversify risk. If this vote was held a good few weeks back, I’d definitely be voting yes.

However, with the recent Safe Network progress on data types, APIs, and stable test environment with the Alpha, as a non-developer I’m wondering whether the Safe Network is becoming less risky to the point where meaningful development could start?

What features would be needed that aren’t currently available on the Safe Alpha network + upcoming RFCs?

If the Safe Network still presents a big risk, then the risk of developing a custom blockchain based solution may be smaller than the risk of depending on the Safe Network. But if the Safe Network is looking less risky, then the risks of splitting focus between Safex and a custom back end to run it may be higher than depending on the Safe Network.

Looking forward to the outcome of the vote either way so that focus can be applied to making Safex happen!