Justmake Ico Review

Justmake Ico Review – Justmake It Work

About Justmake

The Just make Foundation is an advisory organization setup to steer the Justmake Ecosystem and oversee the development of the Justmake Platforms, Products, and Services. The Justmake Core consists of the Just make Wallet, Personal Accounts (Public/Private), and Business Accounts. All parties within the Justmake Ecosystem will be able to collaborate via JM. If the jackpot for a given task were a fixed amount and equally divided among challenging participants, then one could potentially flood the set of participants with aliases to obtain more than one’s share of the jackpot.

A Cartel in which members inform each other about forced errors could therefore have the economic means to flood the network with challenges and monopolize jackpot payouts. This in turn would dilute jackpots for legitimate Versifier which would, in turn, degrade Verified incentives for participation. While such a Cartel might successfully detect forced errors, it might also cause tasks with unforced errors to go unverified. In order to dissuade a Cartel from flooding the network with harmful challenges, Justmake must reduce the total jackpot payout based on the number of challenges that occur.

Justmake Key Information

Token NameJustmake
ICO start25th Sep 2017
ICO end10th Oct 2017
Distributed in ICO60%
Average price0.35 USD
Token SymbolALV
Token TypeERC20
Price in ICO0.3700 USD
WhitepaperClick Here For View Whitepaper
WebsiteClick Here For Visit ICO Homepage

Collusion pools

In this section, Justmake analyze the potential effects of pooling computational, informational, and financial resources among Verifiers and Solvers. Participants in TrueBit may voluntarily form a Cartel which may in turn use external smart contracts to enforce cooperation among its (mutually distrusting) members, however, Solver and Verifier deposits in Justmake alone prevent many potentially harmful financial Justmake designed to extract jackpot funds without exerting computational effort. Secondly, carefully chosen jackpot payout amounts, together with Solver and Verified incentives and private commitment channels, prevent financial gain from unintended signaling of private random bits or challenges.

Rich but powerless

First, consider a Cartel of Solvers with limited CPU bandwidth but deep pockets which volunteers to solve each and every task that comes along. The Cartel makes no attempt to provide correct solutions to any of these tasks, but instead intends to absorb lost Solver deposits until a forced error comes along, at which point it splits the jackpot among its members. By construction (see Section 4.3), Solver deposits exceed the expected jackpot payout per task. Therefore, in the long run, such a Cartel strategy loses money. Justmake members of the Cartel instead decide to start producing correct solutions, this does not harm security because that’s what they are supposed to do anyway.

A flood of Challengers

Timely information about forced errors has economic value. While Solvers can earn jackpots by challenging their own forced errors, they risk sharing jackpot payouts by divulging information about such errors. It follows that Solvers have incentive to keep their knowledge of forced errors private and their fake solutions convincing. Information about active challenges also has economic value because a challenge posted to the blockchain could be a tip-off about a forced error.

For this reason, Versifier have incentive to announce “fake” challenges rather than remaining silent on tasks in which they don’t detect errors (See Step 5. in Section 4.6). “Fake”challenges serve as noise to mask real challenges and protect Versifier’ jackpot revenue from potential copycats who might challenge just because they see someone else doing it.

Easy winners

Justmake the jackpot for all tasks were equal, rational Versifier might choose to verify only simple tasks and ignore complex ones. For this reason, the jackpot for each task scales proportionally with the task’s complexity (Step 5. in Section 4.6). Scaling ensures that a Versifier expected jackpot payout per CPU cycle remains constant across all tasks, and it equally incentive Versifier to inspect simple and complex tasks. Solvers always appear to perform tasks since the minimum task reward suffices to compensate them for their work (see Section 4.6 and assumption (ii) in Section 2.2, ).

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