From 052a6d740ee7a4d3f1c43ca59dd640c7b9e95935 Mon Sep 17 00:00:00 2001 From: Fabian Schuh Date: Wed, 16 Dec 2015 14:56:42 +0100 Subject: [PATCH] BSIP-0007 updates --- bsip-0007.md | 88 +++++++++++++++++++++++++++++++++++++++++++++++++--- 1 file changed, 84 insertions(+), 4 deletions(-) diff --git a/bsip-0007.md b/bsip-0007.md index 306a174..8c67d19 100644 --- a/bsip-0007.md +++ b/bsip-0007.md @@ -41,19 +41,99 @@ actions: # Implementation Aspects -This proposal will require the use of this library to perform the necessary -crypto operations in javascript (see [1]). - -# Backup Considerations +## Backup Considerations Because private transfers are not recoverable from blockchain data alone, backups of your wallet after receiving a new private transfer are required. +## Javascript Implementation + +This proposal will require the use of this library to perform the necessary +crypto operations in javascript (see [1]). + +# Funding + +BitSharestalk.org forum user `onceuponatime` has proposed to fund the +development and implementation of this feature in full as a private investor and +at zero cost to BitShares holders. + +Contract between `onceuponatime` and Cryptonomex: + + The purpose of this contract is to develop a Privacy Mode feature, Privacy Mode + fee accumulation account, Maintenance Account, Initialization Package, and GUI + interface for BitShares scoped for a firm fixed price of $45K. The following + requirements apply: + + 1. The Privacy Mode feature shall be implemented as proposed in + https://github.com/cryptonomex/graphene/issues/452 (as amended). + 2. It shall provide the following fee based services: + * Transfer from public account to their own private balance + * Transfer from one of their private accounts to one of their private contacts + * Transfer from one of their private accounts to any public account + * Register a new account using a private balance. + * Receive a private transfer from a 3rd party given a transfer receipt. + 3. Each of these services shall charge a fee initially set at 3x the standard + transfer fee, but which may be adjusted from time to time by the owner(s) of + the Privacy Mode fees account + 4. Fees shall be automatically distributed by the blockchain to the following + accounts: + * 20% to the BitShares network. + * 20% to a Maintenance Account. + * 60% to holder(s) of the Privacy Mode Fees accumulation account + 5. The Maintenance Account shall be controlled by five specified manager + accounts in a 3 of 5 multisig configuration. These managers will control + the allocation of this fund to future maintenance and upgrade tasks. + 6. The Initialization Package shall modify the blockchain to make the Privacy + Mode feature available to users. + 7. The Initialization Package shall make provision for the creation of + generic Fee Based Assets (FBA) and set the fee for such + 8. A GUI shall be provided in the OpenLedger and Light wallets to allow + ordinary users to easily use the Privacy Mode features. + 9. Documentation of the Privacy Mode feature and Maintenance and Fee + Accumulation account shall be provided on the appropriate reference web + sites. + 10. Resulting software patch to the Graphene library shall have the same + license as the rest of Graphene subject to the condition that the results + of the Initialization package and fee distribution mechanisms are not + modified. + +# Management Account + +The STEALTH asset will be issued by the "management account" for this feature. +`Onceuponatime` will be the initial owner of the issued asset (not the issuer). +This management account will have multi-sig authority assigned to the 5 largest +STEALTH holders weighted proportional to stake and will have the power to set +the fee. + +# Roadmap + +* Feedback and discussion of this thread: *December 8 to December 10, 2015* +* Presentation of an amended Cryptonomex Worker Proposal: *Dec 11, 2015* + This worker proposal should include Milestones of what is intended to be + accomplished by the end of week 1, week 2, week 3, week 4 and week 5 so that + the Community can follow progress in the github. +* Voting for Worker Proposal: *Dec 11 to January 1, 2016* +* onceuponatime forwards $45,000 to Cryptonomex: *Jan.2, 2016* +* Cryptonomex does the development and testing of the feature: *(4 to 6 weeks)* +* Hard fork for implementation of the feature: *Monday Feb, 15th* + # Discussion For the best user experience this proposal is best combined with proposal for *hosted wallets* (to be defined). +## No Participation in Referral Program + +The referral program does not play with Privacy mode transfers (because it is +private, we don't know who the parties are or who referred them). This means +that even if the fee were the same as the basic transfer, on average the +lifetime member would be paying 5x more a Private Transfer than a Public +Transfer. If you charge 3x the basic transfer fee, then life time members will +pay 15x more for a Private transfer than a Public transfer. + +Percentage based fees are not possible with Private Transfers either because the +amount being transferred is *private*! + # Copyright This document is placed in the public domain.