I've listened to 13 of your videos now. Not sure how you do it but great job! When a client wants to do a transaction, how does it know where to begin looking for the two nodes whose transactions it must do? Doesn't it have to go to a central computer for that? If so, won't there always be a Coordinator? And won't that Coordinator always be a single source of transaction failure?
Yes, but to keep things simple AND safe: 1) Always send to a new address, which means: create a new address AND attach this address to the tangle before using it! 2) Now you can send iotas from another address in this wallet to this NEW address. 3) NEVER send iotas from another address in this wallet to an EXISTING address in this wallet. ALWAYS SEND TO A NEW ATTACHED ADDRESS. Please try this out with test coins on the testnet. I have NOT tried this before!
Very good explanation but I hope IOTA solves the problem with compromised addresses in the new wallet. It really has to be idiot-proof that noone can mistakenly receive money on a compromised address. I don't know if this is technically even possible but this would be awesome: You have only one address - in the best way something human readably like "myaddress@iota" - and then the wallet itself does all these "attach address to tangle", "Receive money only to a not compromised address" and "Spend from the correct address" in the background that a normal user doesn't even notice that. Do you think something like this is possible?
I do not think this is possible. You are making an alias "myaddress@iota" to a specific IOTA address you own. However when you are transferring IOTAs from this specific IOTA address to an unused address in your wallet, you create outgoing transactions from this specific IOTA address which you do NOT want. But I can be proven wrong.... Note: You can use a trusted third party, but do we want this solution?
I do not know how much computing power is required, but: An IOTA seed has 27^81 = 8.7 x 10^115 possible combinations A Bitcoin private key has 2^256 = 1.15 x 10^77 possible combinations Given these numbers I have a better "chance" to find a Bitcoin private key.
- In your video you state: "after a snapshot always attach the same number of adresses".. do i have to keep that counter myself?.. is there somewhere i can see what the indexnumber was before snapshot? (or do i just generate new adresses until i get to the same balance as in the snapshot -but then there could be adresses with 0 balance after that) - in your video you suggest a method for re-occuring donations.. i don't see a very good solution.. when i have weekly payments to a certain adress i cannot spend the money or i will have to inform my users to change to a new adress (very impractical) whenever i spend some of the IOTA's.. is there another solution for this?? THNX
A. Question: "do i have to keep that counter myself": Answer:Yes B. Question: "is there somewhere i can see what the indexnumber was before snapshot": Answer: No C. Question: "or do i just generate new adresses until i get to the same balance as in the snapshot -but then there could be adresses with 0 balance after that": Answer: Yes and Yes D. Question: " or i will have to inform my users to change to a new adress (very impractical) ": Answer: If you spent IOTAs from your donation address, you should not use the donation address anymore! You must create another donation address. Yes it is very impractical and no at this moment there is no other solution (IOTA Foundation are working on this problem..) A, B and C should not be a problem anymore using the iOTA mobile wallet (Trinity). Please note: Trinity wallet is in BETA. A new IOTA desktop wallet will soon be available (Beta??) and A,B and C should be solved. However D will not be solved ..yet.
No need to correct the error, its fine. Normally you attach the address to the tangle before handing it out. This step is needed to inform the wallet that the address is in use. As you mentioned, the payment is already in this address so there is no need to inform the wallet it already knows the address is in use. I assume AFTER you handed out the address you have not made any outgoing transactions?
Question: "but what should I do before I make a transaction?" Answer: You do not have to do anything before making a transaction, just make the transaction (I assume to another address NOT in the same wallet)
I assume you have installed the latest wallet version and the node you are connected to is synced. Reasons: 1) Too few public nodes available to process transactions 2) Many people are using the same nodes (switch to another node: iota.dance/nodes) If your transaction remain pending more than 30 min, try reattach or promote.
i changed nodes,reattach to tangle created more then 20 address already but no luck. it is showing 2 days pending transactions for my wallet in thetangle.org
ok So i did what u suggest and got "Error: Invalid Bundle provided". I am creating a list of input addresses while attaching using sendTransfer method in java implementation.
I thought you had problems with a transaction made using the IOTA wallet, but it seems you are creating your own transaction with the sendTransfer method. In that case I have no idea what you are doing and I can not provide you with a meaningful solution..
as always, your videos are one of the best iota explanations out there.
I've listened to 13 of your videos now. Not sure how you do it but great job!
When a client wants to do a transaction, how does it know where to begin looking for the two nodes whose transactions it must do? Doesn't it have to go to a central computer for that? If so, won't there always be a Coordinator? And won't that Coordinator always be a single source of transaction failure?
Great Videos!
Thanks for your help Mobilefish, have another question, am I allowed to make a transaction between different addresses in the same wallet?
Yes, but to keep things simple AND safe:
1) Always send to a new address, which means: create a new address AND attach this address to the tangle before using it!
2) Now you can send iotas from another address in this wallet to this NEW address.
3) NEVER send iotas from another address in this wallet to an EXISTING address in this wallet. ALWAYS SEND TO A NEW ATTACHED ADDRESS.
Please try this out with test coins on the testnet. I have NOT tried this before!
Very good explanation but I hope IOTA solves the problem with compromised addresses in the new wallet. It really has to be idiot-proof that noone can mistakenly receive money on a compromised address. I don't know if this is technically even possible but this would be awesome: You have only one address - in the best way something human readably like "myaddress@iota" - and then the wallet itself does all these "attach address to tangle", "Receive money only to a not compromised address" and "Spend from the correct address" in the background that a normal user doesn't even notice that. Do you think something like this is possible?
I do not think this is possible. You are making an alias "myaddress@iota" to a specific IOTA address you own.
However when you are transferring IOTAs from this specific IOTA address to an unused address in your wallet, you create outgoing transactions from this specific IOTA address which you do NOT want.
But I can be proven wrong....
Note: You can use a trusted third party, but do we want this solution?
How much computing power is required to brute force an address?
I do not know how much computing power is required, but:
An IOTA seed has 27^81 = 8.7 x 10^115 possible combinations
A Bitcoin private key has 2^256 = 1.15 x 10^77 possible combinations
Given these numbers I have a better "chance" to find a Bitcoin private key.
- In your video you state: "after a snapshot always attach the same number of adresses".. do i have to keep that counter myself?.. is there somewhere i can see what the indexnumber was before snapshot? (or do i just generate new adresses until i get to the same balance as in the snapshot -but then there could be adresses with 0 balance after that)
- in your video you suggest a method for re-occuring donations.. i don't see a very good solution.. when i have weekly payments to a certain adress i cannot spend the money or i will have to inform my users to change to a new adress (very impractical) whenever i spend some of the IOTA's.. is there another solution for this??
THNX
A. Question: "do i have to keep that counter myself": Answer:Yes
B. Question: "is there somewhere i can see what the indexnumber was before snapshot": Answer: No
C. Question: "or do i just generate new adresses until i get to the same balance as in the snapshot -but then there could be adresses with 0 balance after that": Answer: Yes and Yes
D. Question: " or i will have to inform my users to change to a new adress (very impractical) ": Answer: If you spent IOTAs from your donation address, you should not use the donation address anymore! You must create another donation address. Yes it is very impractical and no at this moment there is no other solution (IOTA Foundation are working on this problem..)
A, B and C should not be a problem anymore using the iOTA mobile wallet (Trinity).
Please note: Trinity wallet is in BETA.
A new IOTA desktop wallet will soon be available (Beta??) and A,B and C should be solved.
However D will not be solved ..yet.
I have done a mistake, hand out an address before attach to tangle, and now payment already in it, what should I do to correct the error?
No need to correct the error, its fine.
Normally you attach the address to the tangle before handing it out. This step is needed to inform the wallet that the address is in use. As you mentioned, the payment is already in this address so there is no need to inform the wallet it already knows the address is in use.
I assume AFTER you handed out the address you have not made any outgoing transactions?
Your assume is right, I have not made any outgoing transaction yet, but what should I do before I make a transaction?
Question: "but what should I do before I make a transaction?"
Answer: You do not have to do anything before making a transaction, just make the transaction (I assume to another address NOT in the same wallet)
can u pls tell me why transactions are pending status for so long
I assume you have installed the latest wallet version and the node you are connected to is synced.
Reasons:
1) Too few public nodes available to process transactions
2) Many people are using the same nodes (switch to another node: iota.dance/nodes)
If your transaction remain pending more than 30 min, try reattach or promote.
i changed nodes,reattach to tangle created more then 20 address already but no luck.
it is showing 2 days pending transactions for my wallet in thetangle.org
Goto www.reattach.online/, paste your tail transaction hash and select node: nodes.thetangle.org:443
and press the button
ok
So i did what u suggest and got "Error: Invalid Bundle provided".
I am creating a list of input addresses while attaching using sendTransfer method in java implementation.
I thought you had problems with a transaction made using the IOTA wallet, but it seems you are creating your own transaction with the sendTransfer method. In that case I have no idea what you are doing and I can not provide you with a meaningful solution..