Topic: [ANN] [GDGC] GadgetCoin | IoT | M2M |Smart Contracts on Hardware - page 12. (Read 88533 times)

Internet of Things is more and more important even on the IFA 2015

http://eandt.theiet.org/news/2015/sep/ifa-iot-2015.cfm

lets hope the best for us with GadgetCoin and Internet of Things

Thank you for promoting GadgetCoin and spreading the word about the project.
 
As for creating a separate project for the adult them, we already started to recruit web-cam models and studios and at this stage it would be difficult to separate it from the core software. Though we can remove the references to the adult business from the OP and marketing materials if it is really necessary.

Sounds good.

I spoke to a few people to promote GadgetCoin. The general response is that everyone is excited about M2M/IoT but the association with the adult theme seems a big NO for them. I have a Chinese investor friend, he also interested but wouldn't touch the project because porn is illegal (or at least a slippery slope) in China. Shouldn't be the adult theme separated from the core project by creating a fork for the adult use case?

There will be most definitely shares allocated to the VICR investors from the GadgetNet business. If GadgetNet will make money then we definitely will share that with the few people who are interested in this project and helped us with the start. In case if we are lucky and a venture capitalist offer is materialized then both the developers and VICR investors will profit from that. We said that we appreciate the support of the VICR owners and we will act accordingly.

We are working on the details to allow anonymous holding of the shares most likely via an other company and to program the ownership into the blockchain via smart contracts.

As this isn't a public share offering - that would be illegal - we will discuss the details with VICR owners privately in the slack channel.

Well, that's it what it is. Armstrong was never wrong on those issues, he predicted accurately all major collapses so far - the biggie which will bring rioting and revolution to the streets is coming now. And he doesn't even considered and he hasn't taken into account the impact of the M2M/IoT revolution which will wipe out 50% of the jobs. Of course new jobs will be created with the new economy, but until that there will be lots tears and suffering.

The only reason I brought this shit here because the M2M/IoT revolution that will wipe out 50% of the jobs and change the world is clearly happening, and it is quite relevant to GadgetCoin.

I hope the devs will take this shit seriously, it motivates them and will come up with a killer app. The work with the AllJoyn, IoTivity and W3C's WoT frameworks is a very good start. That combined with a micropayment solution is what we need to get M2M/IoT consumers into the GadgetNet platform.

cheers! very good news before I go to sleep 

Since the whole digital currency movement is completely fucked up people are realising the main issue with digital currencies, what we have been discussing in this thread for a while that there are no consumers only speculators.


As GadgetCoin isn't a speculative asset, it's a consumer asset the future of this coin is brighter than ever.

Thanks mtomcdev!

I always thought mining is an unnecessary complication for digital currencies and they add too much risks, politics and cost to the process by processing the transactions.

What's happening to the DAC? Is it still on the table? Have you decided, do you want form partnership with the VICR investors?

Thanks for visiting the thread, we really appreciate it. Not sure whether we succeeded or not in that sense, but we have been reading and tried to learn a lot from your posts, so thanks for sharing your views on the BCT forum.

Trust in the currency

You quoted Armstrong in your above post. Armstrong stated in one of his interview that the trust in currency is nothing else but the trust in the government. The currency of the ancient Roman Empire was an universal medium of exchange as long as the symbol of the Roman government was on the coin. Similarly, the US dollar value is based on the trust in the US government and according to Armstrong that was the case even before 1971 when the gold standard was the monetary system. The strong governments ensures that the currency and its ecosystem, the banks, payment processors, credit card issuers are regulated and can be trusted.

We believe in digital currency the trust is pretty much based on similar factors. There are organizational and ecosystem components in the trust, though due to the decentralized manner of digital currencies the developers who governs the software have a less significant role than the government in FIAT. Still, trustworthy developers could establish and increase the trust in the currency (for instance Vitalik Buterin with Ethereum who is also mentioned in your post) in the sense that users will assume that trustworthy developers will release trustworthy sources and binaries for download. The ecosystem, namely the software is the most significant element in the digital currency trust. PoW system such as Bitcoin utilize miners to ensure the trust. Ironically, even if a trustworthy software in place - which is the case in Bitcoin - 51% of miners could compromise the trust. PoS systems rely on the staking, but the 51% attack is more or less an issue. Not to mention the politics, centralization of mining and large coin stack that are related to PoW and PoS systems respectively.

When we started to design GadgetCoin the basic assumption was: if the users execute a trustworthy software (which is clearly the case with Bitcoin), but some of the users can still compromise the system then there is surely a fundamental design flaw/weakness in the protocol. We thought it is reasonable to expect that if the users execute a trustworthy software then the system delivers the expected result. It is unfortunately not the case with Bitcoin nor with PoS coins. Despite the trustworthy software dishonest users can compromise the BTC and other PoS networks.

In our opinion, it is an impossible task to solve the trust issue on protocol level. The basic premise in GadgetNet security is that if the system is the composite of only trustworthy software then there cannot be bogus payments in the network. Therefore, we believe the most reliable method to guarantee security is to ensure that the software is indeed trustworthy.

The GadgetNet balance is based on accounts instead of addresses. Let say Alice has 100 coins, Bob has 50 coins, Bob send 10 coins to Alice and the new balances will be 110 and 40 coins.
Ab = Alice's original balance
Bb = Bob's original balance
Anb = Alice's new balance
Bnb = Bob's new balance

Ab = 100;
Bb = 50;
Anb = Ab + 10;
Bnb = Bnb - 10;

In the GadgetNet system this four lines of code manages the transaction of Bob send 10 coins to Alice. There is no mining no staking required instead of the system must ensure that the simple tasks of
a) account balances are indeed what the nodes submit in the transaction data
b) account balances are correctly adjusted

If the software is trustworthy that populates the first two line of code (account balances) and perform the 3rd and 4th line of code (adjust balances), if the software does what it is intended to do then the network is safe. Therefore, we just need to guarantee that there is only trustworthy software perform transactions on the network.

Trustworthy software in this context that is
- open source
- written by the developers
- continuously reviewed by the users and peers
- ideally compiled by the end users

Extra safety and protocol level measures also exist in GadgetNet, for example there are minimum three trusted node signatures required to complete the transaction, but the basic premise is that the software is trustworthy (i.e. it is the original software that is written by the developers) then the network security is guaranteed.


Ensuring trust with infrastructure level measures

Infrastructure refers to software and system that are not part of the digital currency software, but suitable to ensure that the digital currency software is trustworthy and it is not altered by malicious users/processes. These are mostly operation system applications, but it could be third party as well.
Ensuring the trustworthiness of the software on infrastructure level means validating and monitoring the software (nodes) that performs the transactions.
- Ensure the binaries are compiled from the correct source by validating the hash of the software
- Ensure the process that executes the software is indeed start the correct binaries
- Ensure there is no malicious process compromise the trusted node process context
There are several other measures as well that performed and we will explain that.

The infrastructure level measures performed by automated processes, but any user any time can perform them manually.

The bottom line is, the trusted software node must reside on a system that provides read only write to anyone to review the logs of the infrastructure level measures. We think it is worth to sacrifice such security privilege and open up the system for read only visitors as this design substitutes PoW and PoS with a more robust and secure mechanism. At least, we think that's the case.  

Btw, this looks interesting, but no time to study the details now.

How does that work? I would like to believe there is other way to perform transactions than using PoW and PoS to check the account/address balance, but how does that work with "infrastructure related measures"?

Bitcoin is in real trouble. I am less concerned about the XT fork and the price, in normal circumstances those could be sorted out eventually. The main issue is that no new money is coming into Bitcoin. There are only 100,000 active Bitcoin users after 5 years of intense development, hype, hundreds of millions venture capitalist investments and limitless media presence. A web commerce or a lame community site could do better than the adoption rate of Bitcoin.
Most of other digital currencies are in serious and unmanageable trouble. Litecoin is used by nobody. That's true for the other 1,000 digital currencies as well. There are only a very few projects based on real use cases. A few others try to handle darknet use cases, but of course I agree with Martin Armstrong ( http://www.armstrongeconomics.com/ ) that governments won't allow that digital currency projects hide money from the tax collectors. It's just can't happen in the world that is heading to a totalitarian state control. Armstrong explains why and how the world is heading into chaos which start be unfolding from October, 2015 and will be complete in 15 years from now. Just like Armstrong, all rational persons are in pretty much in agreement that law enforcement won't allow hiding the money from the tax man. Not to mention large majority of businesses and individuals don't even want to hide the money on the dark net. Some smart fellow of this forum like TPTB_need_war (formerly Anonymint) or Fuserleer could come up with a magic protocol and system that allows full anonymity and privacy. I fully respect their effort and aims, I understand the need for privacy, but I like the GadgetNet project from the beginning because it states honestly that the aim is to work with real world businesses that typically couldn't care less about privacy (sorry, but this is the reality) and must comply with laws and regulations (of course it would be nice to have an extension that allows anonymity in GadgetNet, I would support that too for privacy reasons and I assume the developers will address that if there is a need for such functionality).

Armstrong is most likely correct that the world economy is collapsing, but one thing is certain, innovation won't stop, not even in the inevitable economic chaos. Moreover, the main innovation areas will be M2M and IoT. M2M/IoT will change the world and not Bitcoin, thought the decentralized ledger from Satoshi is a remarkable innovation. That's what GadgetCoin does, provide solution for the M2M/IoT fields. There is a consensus that due to IoT/M2M 50% of the current jobs will be gone by 2030. Automated cars, hotel receptionist, bank clerks, cleaners, health care, etc. devices will make obsolete 50% of current jobs. I think (if the developers deliver) the work with AllJoyn, IoTivity and W3C will put this project in a prime position on the payment front while the world is changing by M2M/IoT.
It is music to my ears that the developers started to work with the AllJoyn, IoTivity and W3C's WoT platforms, as well as integrating open standards. Don't worry about the rejections by the exchanges - venture capitalist will understand what is the value of an M2M/IoT project that is based on open standards and provides interfaces to AllJoyn, IoTivity and W3C's WoT.
The average audience of this forum, the headless coin buyer chickens that are after 1-2 BTC P&D profit, the miners, the average of 22 years old digital currency fan boys simply don't understand that M2M and IoT is changing the world. We, the VICR investors of this project do understand the significance of M2M and IoT and I hope the developers will reward us with a nice profit for our support.

I agree with others that the exchange is not a priority. The exchanges are only platform for P&D, and at the end of the P&D chain there are always tears and disappointments for someone. Of course the exchanges could bring new users into GadgetCoin, but as you said probably we are better off without the pump and dump that associates with the exchanges. No digital currency can exists without a community, but probably it is better if the community is formed without the exchanges. Once the platform is operational users slowly but surely will come one by one. I think you can build this coin without the exchanges by trying to reach out to real world businesses instead of rely on the average exchange driven crypto user. You get all the nonsense with the average crypto user who come via exchanges. The average crypto user is perfectly fine with the fact that nobody is using the fucking coins. Miners, early ICO/IPO adopters hype the coins on the exchanges to bring newbies money into their projects. You see what happened with Ethereum? The miners started to involve with the process and then the hype and nonsense took over, because the miners must sell the coins. Sell to who and for what reasons? Nobody is using the fucking thing, but they still mine the coin and sell it. I am disappointed in Vitalik that he allows the mining nonsense with Ethereum. I sold the majority of my Ethereum coins with an average profit of 450%, I am out from Ethereum and from now I will support only innovative projects like GadgetCoin or Skycoin or TPTB_need_war's coin (once that is available).

Great to see some activity here. M2M and IoT technologies will rule the world and digital currency exchanges won't rule a thing. Bittrex, BTC-E and Bitstamp will be long gone when M2M and IoT techs will be integral part of businesses and personal life. It would be nice to trade this on exchanges, but I think you can make it without the exchanges. If you can make it without the exchanges and pump and dump hyping then it means you have a real business with a solid foundation.

thanks for the update DEV and working on the project!  I am back from holiday too and look forward to supporting this coin in the rest of the year!  
no worries about the exchanges, they understand pump and dump only, let them do what they can do best and you will do the innovation.

Yes,  I don't think anyone want to dump their coins at this stage, please concentrate on your major work, this is more important.

Thanks for the update! You continue to impress. Don't worry too much about getting on an exchange, especially during this time of uncertainty with the bitcoin fork. You are doing exactly what you need to be doing. Like I said before, any coin would kill to have what you have going. 

Update



Exchange integration

We have applied at the 4 major exchanges for listing GadgetCoin , but we still need to wait for the implementation to be completed.
One of the exchanges states that "we look for coins that have high community demand, innovations to digital currency technology, or a contribution to science or humanity". Well, we believe that we tried our best to come up with an innovative digital currency design by
- not copying a single line from any other crypto currency but writing GadgetCoin from scratch to address for example privacy
- publishing and implementing first the concept of public/private blockchain, implementing 1 seconds (instant) transaction time
- using accounts instead of addresses to send money which feature makes easy using digital currency for users and businesses that aren't familiar with crypto currencies
- having account balances instead of address outputs/inputs to make easy using a crypto currency for not crypto currency users
- securing the network using trusted nodes instead of relying on miners.
Also, GadgetNet allows models and gamers (who currently receive typically only 50% of their earnings from large corporations) to cash out as much as 95% from GadgetNet, and therefore, we thought there is a rather positive social aspect of GadgetCoin. Also we have a fully functional blockchain explorer and operational network. Regardless of what we thought about an innovative design it seems it is not so easy to get exchange listings if a currency is not a Bitcoin or Litecoin clone. It seems the exchanges require design principles and interfaces that are based on Bitcoin or Litecoin.
In order to get listed on the exchanges we started to design a Bitcoin compatible RPC API interface for GadgetCoin. We will try to complete this modification by the end of this week, 30th of August. Once we have a fully functional BTC compatible RPC API there shouldn't be any reasons to be refused by the exchanges.

We understand the exchange listing is important for the community as well as it is very important to build a user base for GadgetNet, and we will do everything we can to get GadgetCoin to the exchanges.

We would like to ask our supporters please contact the exchanges and request GadgetCoin to be added to their trading platforms.



Wallet based coin trading

The slow response from the exchanges with regards to the listing of GadgetCoin is very disappointing and we decided to roll out a wallet based trading function instead of 100% relying on the acceptance of exchanges. That means users will be able to sell their GadgetCoin for BTC (an later for FIAT) within the wallet without using exchanges. We will complete this feature by the end of this week, 30th of August.



Research and Development (R&D)

We completed a quite significant amount of research, design and development work in the last few weeks to make a few more steps in establishing GadgetNet as the primary platform for Internet of Things micropayments. We are integrating the CoAP and MQTT protocols so the GadgetNet devices will be exposed via HTTP REST API, CoAP and MQTT.
We are also integrating all relevant open standards such as Authentication and Authorization for Constrained Environments (ACE), Javascript Object Signing and Encryption (JOSE), JSON Web Tokens (JWT), JSON Web Signature (JWS), JSON Web Encryption (JWE). The plan is to use only open standards on the GadgetNet network for security, data and network management.
We have started integrating the GadgetNet network with Alseen Alliance (AllJoyn) and IoTivity the two leading IoT frameworks. AllJoyn itself has 170 member companies, some of them the world's largest technology companies and the plan is to provide them with an open source IoT payment solution what GadgetNet will be within a few weeks once everything is released in the open source domain.
Also, the work with W3C has been continued, it is currently mainly related with research rather than actual coding. The W3C project is in a very early stage and lots of researches required to come up with a robust, scalable, extensible, maintainable and sensible design. It is very time consuming task but we are very excited to work on the W3C WoT project.

We are updating the white paper to explain with more clarity
a) The trusted node concept of GadgetNet. We thought at the beginning of the development of GDC that digital currency is possible, in fact it could be more faster, user friendly and secure without mining. We understand the mining is very useful to build a community and bring supporters to the project, and unlike other coins we certainly don't have such support from the mining community, but we believe in the long term GadgetCoin is better off, more secure and can generate more revenue for the stakeholders without the miners. The GadgetNet network security is simplified by using trusted nodes (and not relying on the miners), but we need to explain this in the white paper. Very briefly, we secure the network, address attacks such as sybil, DoS, etc attacks and the Byzantine generals problem with using trusted nodes and the trusted node role is based on enforcing rules on infrastructure instead of protocol level. That means the most important (and in fact the only) task is to ensure that the trusted nodes run an honest software. GadgetNet ensures this on infrastructure level instead of using protocol based implementation or mining. Other currencies implement PoW, PoS, etc and then mine or stake or allow both to process transactions. We believe such implementation is an unnecessary complication and we can achieve network security and transaction processing by simply ensuring with infrastructure related measures that the trusted nodes or in fact any nodes which assist in transaction processing don't run a malicious software.
b) The public/private blockchain concept



Jizzmo and Streemo
The exchange integration was a distraction to the development of the Jizzmo and Streemo sites, but we will concentrate on this task from now. GadgetNet is built on the idea of serving real world businesses and users. The aim is to create demand for GadgetNet and GadgetCoin by offering services and saving money to end users. The holiday season is ended, all team team members are back and we will continue integrating the CCTV cameras to Streemo and signing up the models to Jizzmo. We hope the first live users start using the network within two weeks.

Bitcoin is crashed. i am happy I sold some bitcoins and got GDC.