Frequently Asked Questions (FAQ)


System Components

Accounts

Install options

Transfer / Transactions

bitshares-core wiki (reference)




Assets - FAQ

Can I change x after creation of the asset

The following parameters can be changed after creation:

  • Issuer
  • UIA-Options:
    • Max Supply
    • Market Fee
    • Permissions (disable only/nor re-enable)
    • Flags (if permissions allow it)
    • Core exchange rate
    • White/Black Listing
    • Description
  • MPG-Options:
    • Feed Life Time
    • Minimum Feeds
    • Force Settlement Offset/Delay/Volume

Things that cannot be changes:

  • Symbol
  • Precision

A guide can be found here.

Can I change the issuer?

The current issue of an asset may transfer ownership of the asset to someone else by changing the issuer in the asset’s settings.

What about Parent and Child assets?

A parent/child relation ship for assets can be represented by the name of the symbol, e.g.:

PARENT.child

can only be created by the issuer of PARENT and no one else.

What happens to the asset creation fee?

50% of the asset creation fee are used to pre-fill the assets fee pool. From the other 50%, 20% go to the network and 80% go to the referral program. This means, that if you are a life-time member, you get back 40% of the asset creation fee after the vesting period (currently 90 days).


Fee Pool

If an order is created and paid in a non-BTS asset, the fee is implicitly exchange into BTS to pay the network fee. However, if the order is canceled, 90% of the fee will be returned as BTS. The result is, that if the core exchange rate is lower than the highest bid, people can simply buy your token from the market, and exchange them implicitly with the fee pool by creating and canceling an order. This will deplete the fee pool and leave the issuer with his tokens at a slight loss (depending on the offset of the core exchange rate). For this reason, we recommend to use a core exchange that is slightly higher than the market price of your asset. As a consequence, paying fees in BTS should always be cheaper.

The fee pool allows participants in the network to deal with assets and pay for the transaction fees without the need to hold BTS. Any transaction fee can be paid by paying any asset that has a core exchange rate (i.e. a price) at which the asset can be exchange implicitly into BTS to cover the network fee. If the asset’s fee pool is funded, the fees can be payed in the native UIA instead of BTS.

Note

The core exchange rate at which a fee can be exchanged into BTS may differ from the actual market valuation of the asset. A user, thus, may pay a premium or spare funds by paying in BTS.

Warning

Make sure your core exchange rate is higher than the lowest ask, otherwise, people will buy your token from the market and drain your fee pool via implicit abitrage.

It is the task of the issuer to keep the fee pool funded and the core exchange rate updated unless he wants the owner of his asset to be required to hold BTS for the fee.

Open up the issuer’s account, click the assets tab and open up the dialog to change the asset. There will be a fee pool tab that allows you to fund the fee pool and claim the accumulated fees!


Market Fees

Open up the issuer’s account, click the assets tab and open up the dialog to change the asset. There will be a fee pool tab that allows you to fund the fee pool and claim the accumulated fees!

When an asset is creatd, the issuer can set any combination of flags/permissions. Flags are set in stone unless there is permission to edit. Once a permission to edit is revoked, flags are permanent, and can never be modified again.

  • charge_market_fee: an issuer-specified percentage of all market trades in this asset is paid to the issuer
  • white_list: accounts must be white-listed in order to hold this asset
  • override_authority: issuer may transfer asset back to himself
  • transfer_restricted: require the issuer to be one party to every transfer
  • disable_force_settle: disable force settling
  • global_settle: (only for bitassets) allows bitasset issuer to force a global settling - this may be set in permissions, but should not be set as flag unless, for instance, a prediction market has to be resolved. If this flag has been enabled, no further shares can be borrowed!
  • disable_confidential: allow the asset to be used with confidential transactions
  • witness_fed_asset: allow the asset to be fed by witnesses
  • committee_fed_asset: allow the asset to be fed by the committee
  • Enable market fee
  • Require holders to be white-listed
  • Issuer may transfer asset back to himself
  • Issuer must approve all transfers
  • Disable confidential transactions

If Market Fees of a UIA are turned on, fees have to be payed for each market transaction. This means, that market fees only apply to filled orders!

The percentage of market fees that are applied can be defined and changed by the issuer and any fee generated that way will be accumulated for each asset only to be claimed by the issuer.

If the Market Fee is set to 1%, the issuer will earn 1% of market volume as profit. These profits are accumulated for each UIA and can be withdrawn by the issuer.

Suppose, I set the market fee for MyUIA market at 0.1%. and the market fee for YourUIA market at 0.3%.

In BitShares, You pay the fee upon receiving an asset. Hence, one side will pay 0.3% the other will pay 0.1%.


Market Pegged Assets

Yes!

  • feed_lifetime_sec: The lifetime of a feed. After this time (in seconds) a feed is no longer considered valid.
  • minimum_feeds: The number of feeds required for a market to become (and stay) active.
  • force_settlement_delay_sec: The delay between requesting a settlement and actual execution of settlement (in seconds)
  • force_settlement_offset_percent: A percentage offset from the price feed for settlement (100% = 10000)
  • maximum_force_settlement_volume: Maximum percentage of the supply that can be settled per day (100% = 10000)
  • short_backing_asset: The asset that has to be used to back this asset (when borrowing)



CLI Wallet - FAQ

How can I close the CLI client in a clean way?

In Windows closing the whole window produces a nasty exception. In Windows you can try ctrl-d which stops the process but stil produces a nasty exception.

Why does the CLI client crash immediately when I try to run it for the first time?

The CLI client is unable to run on its own, i.e. without being connected to the witness node (via a web socket connection). So to successfully run the CLI client you need to do this:

  • make sure you have this entry uncommented in the witness_node_data_dir/config.ini file rpc-endpoint = 127.0.0.1:8090
  • before you start the CLI client, you need to start the witness node (and wait a while till it’s up and running)

Note

Find more “How to” guide in a Tutorials section.




Witness - FAQ

How can I close the witness node in a clean way?

In windows use ctrl-c.

How do I check whether the witness node is already synceed?

Run the info command in the CLI client and check the head_block_age value.

If it seems to be unable to sync beyond a certain date

You should always make sure you use the newest build available here as earlier releases will get stuck due to hard-forks.

Is it safe to delete logs stored in witness_node_data_dirlogsp2p?

Yes, but

  • they’re rotated automatically after 24 hours anyway
  • if you don’t use them you should probably modify config.ini so they aren’t written to disk in the first place.

What is the best way to interact with the witness node?

The only way you can interact with the witness node is through the CLI client by using its API.

You can also use the GUI (i.e. the light client). Read more about : How to connect to your own Full Node (GUI)

What is the difference between public and private testnet?

Not much. The biggest difference is that public testnet are intended for wider audience and has fixed (not easy to change parameters), while private testnets can be setup with arbitrary settings.

What is the meaning of all those different text colors in the witness node console?

  • green - debug
  • white - info/default
  • yellow/brown - warning
  • red - error
  • blue - some kind of info, I don’t know

Related source files are in libraries/fc/include/fc/log/ and libraries/fc/src/log/.

Whose private key is [“BTS6MRyAjQ..”,”5KQwrPbwdL..”]? Why is it predefined in the config.ini?

It’s a shared key for some special purpose. (But I don’t remember what it is. If I remember BM or someone else has ever explained it in the forum, but I can’t find the post right now. Just let it be there. I think if you comment it out, it will appear again automatically, it’s generated by the code of witness_node.)




Developers - Questions

Developers - FAQ

Are there any sharding mechanics currently deployed?

No

Are there any special affordances made for privacy?

…such as using CoinJoin or a ZK-SNARK based privacy scheme like Zerocash? If mixing is integrated at the protocl level are you using the standards set forth by the BNMCKF Mixcoin proposal

Confidential values (same as blockstream elements using the same secp256k1-zkp lib) + stealth addresses. https://github.com/ElementsProject/elementsproject.github.io/blob/master/confidential_values.md No mixing, No CoinJoin.

Does the protocol provide mechanisms for overlay protocols to interact such as OR_RETURN?

Yes, using a custom_operation.

struct custom_operation : public base_operation
   {
      struct fee_parameters_type {
         uint64_t fee = GRAPHENE_BLOCKCHAIN_PRECISION;
         uint32_t price_per_kbyte = 10;
      };

      asset                     fee;
      account_id_type           payer;
      flat_set<account_id_type> required_auths;
      uint16_t                  id = 0;
      vector<char>              data;

      account_id_type   fee_payer()const { return payer; }
      void              validate()const;
      share_type        calculate_fee(const fee_parameters_type& k)const;
   };

How are SPV clients handled?

No SPV clients at the moment, each full node can expose a public websocket/http api.

How are transactions validated?

Each operation has a defined evaluator that checks for preconditions (do_evaluate) and modify the state (do_apply). (After signature verification)

class transfer_evaluator : public evaluator<transfer_evaluator>
   {
      public:
         typedef transfer_operation operation_type;

         void_result do_evaluate( const transfer_operation& o );
         void_result do_apply( const transfer_operation& o );
   }

Note

See a list of System Components - Evaluators information.

How do new clients bootstrap into the network?

Trusted seed nodes. Knowledge of initial witness keys.

How is accounting addressed in Bitshares? Is it a Nxt style accounting model or like Bitcoin’s UTXO

Each account has a finite set of balances, one for each asset type.

How is time addressed in the blockchain? Is NTP used or some other protocol?

NTP

Is the scripting language turing complete?

No scripting

Is there a specification for Bitshares scripting language? (assuming there is one)

No scripting

Is this done via a gossip protocol or through a federate relay?

Each node immediately broadcast the data it receives to its peers after validating it https://github.com/cryptonomex/graphene/blob/master/libraries/p2p/design.md

What data structures are used in the blockchain?

::
Blocks => transactions => operations => objects.

The blockchain state is contained in an object database that is affected by the operations. Example objects::

account_object
asset_object
account_balance_object
...
class account_balance_object : public abstract_object<account_balance_object>
   {
      public:
         static const uint8_t space_id = implementation_ids;
         static const uint8_t type_id  = impl_account_balance_object_type;

         account_id_type   owner;
         asset_id_type     asset_type;
         share_type        balance;

         asset get_balance()const { return asset(balance, asset_type); }
         void  adjust_balance(const asset& delta);
   };

What is the average block time?

Current 3 seconds, configurable by chain parameters.

What is the average size in Bytes of a Bitshares transaction?

  • Average wire size of operations is ~30 bytes.
  • Average mem size of operations is ~100 bytes.

What is the standard Bitshares address structure and format?

address = ‘BTS’+base58(ripemd(sha512(compressed_pub))) (checksum obviated)

But addresses are not used directly, instead you have an account (that can be controlled by one or more address, pubkey or another account). ** Read more about Dynamic Account Permissions

What public key system is used? If elliptic curve, then what is the curve?

Same as Bitcoin, secp256k1.

What transaction types are natively supported?

Transaction are composed of operations (about ~40 different types). Example of operations are:

  • transfer_operation
  • limit_order_create_operation
  • asset_issue_operation

Full list : System component - Operations