Topic: [ANN] [KEY] KeyCoin | Fair Launch | 10/24 Update: KeyTrader v2 - Windows + Mac - page 43. (Read 100897 times)

Dev Update - 7/30/2014 Recap

Hello, Investors, Contributors, and fans. We would like to take some time to do a quick recap on some of our achievements and goals,

We offer our continued progress and commitment to this project, to prove our dedication not only to the community of investors who have taken the risk and continue to join us early in the life of this coin, but to the entire industry of crypto itself to legitimize and raise the bar for what makes an alt coin worthy of being listed on an exchange, and gaining value from our investments.


Raising the bar:

Since the launch of the project and our very first dev posts, we have been honest and devoted to our community.In our first post we explained our desire to make sure we don’t build a coin based upon the hype of forthcoming features only to continuously fail to meet them like other coins out there, but to deliver on time updates and improvements over time to create a coin that grows in value and creates a unique and safe trading environment for our supporters. we accomplish this instead by setting deadlines and meeting them with our diverse, forward thinking, and efficient team. A team so strong and that it even gained the endorsement of a prominent and well respected developer in the community that has a currency of his own.

The review by Dan Metcalf can be read here:
https://bitcointalksearch.org/topic/m.8092391

What we have accomplished:

• An extremely fair launch with a diverse and powerful hash rate within moments of release. No premine, No instamine and No IPO.
• A dedicated dev comprised of over 20 team members and growing that posts and answers questions 24/7 in both our ann.
• Slow and steady growth on the exchanges to allow for fairness in the distribution of the coin. ( we didn’t buy up our own coin to accumulate for pump purposes, we want to give the keys to the world, and buy and sell with the traders)
• Public demonstrations of our anon system in which blocks of 20 key were given to all those who were willing to participate.
• A powerful and unique anon system that keeps your transactions secure using advanced encryption techniques, and randomized nodes that make it impossible even for the sender to trade the transaction through the block chain.

Goals (in no particular order and not a complete list):

• To maintain a level of progress, community outreach, and professionalism that proves our dedication to KEY, eventually gaining large scale adoption and trading across major exchanges.
• Increased adoption by prominent figures in the industry.
• To set the bar and change the alt market for the better by keeping things consistent and of a high quality. We believe that this will change the alt ecosystem for the better.
• Release an anonymous USB key based os that comes free with integrated trading tools, and an introduction to trading kit complete with a trading plan template for your personal use.
• Make improvements to our anonymous system as they are developed.
• Remain connected and in constant communication with our community, and taking their input and turning it into a reality.

In the spirit of sharing progress with KEY investors and supporters, we’d like to show a preview clip of the custom made informational video we have underway:

https://docs.google.com/file/d/0B_90UCWsvCdYejU4dG5QTGVZRk0/edit

KeyOS is also coming along well and we are testing and customizing the distribution in our dev group this week.

People keep dumping into the buy orders that keep appearing. That can't go on forever so just wait it out and soon the weak hands will have empty bags.

7/29 Update

As requested by the community, our anonymous transaction system has been reviewed by a cryptocurrency programming expert. Here is his review:

https://bitcointalksearch.org/topic/m.8092391

Review by XC Developer Dan Metcalf:

Quote from: atcsecure on July 29, 2014, 10:42:14 PM
Dear KeyCoin Community,


I have always been a strong advocate for advancements in technology, dating back throughout my career and I support anything that can have a positive effect on the path to greater freedom and I regard crypto-currency as key part  of the solution to a decentralized and free society.  You can see my extensive list of accomplishments at http://www.linkedin.com/pub/dan-metcalf/12/1a8/b82

The KEY code:

KEY is 100% Proof-of-Stake, with checkpoints, active POS checkpointing server, and a POS Maximum Age of 120 days to prevent long term accumulation attacks. The code has been well audited by both members of the community and exchange operators.

Key’s anonymous solution is an unique hybrid which leverages on-demand encryption and clustered pools to randomize mixing.  To prevent leakage the transaction is passed through the clustered mixing pools twice, thus rendering the transaction untraceable on the blockchain and also prevents even the sender from tracing the transaction on the block chain. While the anonymous system is indeed based on XC, it is a highly modified and unique version.

The KEY team and invite for review:

At first when the KEY team reached out, my initial response was to say no due to my workload and commitment with XC, but since I am always open to new innovation, I finally decided to accept the request.  I was invited to a private channel with an extremely organized and eager development team. There are over 20 guys in here with skill sets ranging from proficiencies in various computing languages, graphic designers, web developers, 2 3D rendering studios, Linux system admins, they even have guys with 3D printers exchanging custom designs for the KEYos and merchandise.
I also noted a great deal of cross collaboration, with many prominent developers from the community contributing to the success of the coin and the quality of the code.

They have their ears open and they are open to acting on not only my suggestions, but those that emanate from the community itself. Since innovation is what drives cryptocurrency, I decided to accept the opportunity to review the code and the team.
 
Peer Review:

In reviewing the code, I did a basic review of the entire code base and a more in-depth analysis of the anonymous related portions.
The additional clustering abilities within the protocol itself provide an ideal solution in preventing block analysis, and to take it even 1 step further, the developers have implemented a ring layer on the protocol allowing the transaction to take multiple pass’s through the cluster, further anonymizing the transaction.
Since the entire protocol including the enhancements are encrypted it is impossible to gain any information by sniffing the network.
The protocol enhancements have been integrated correctly and based on my own testing perform as expected and haven’t created any security vulnerabilities.


As my time very limited, I will leave it up to the Key Dev's to handle any questions

Sincerely,

Dan Metcalf

July 20, 2014

Quote
I find it funny how the altcoin community complains about all the "shitcoins" that come out, but for every new coin, they dump the ones that are works in progress and jump on the newest released coins.

It's not really the devs to blame for this trend, releasing all these scam and shit coins. It the altcoin community, they show with their bitcoins that they dont care about many projects, they just want to jump on the next train. Stop blaming the devs for creating more coins and then abandoning them and moving to the next. They abandon them because their communities and investors do first. If you believe in a project, we should all work together and support and promote it.


With that said, KEY has had some tumultuous price waves over the last two days. We the dev team are still strong and believe in our project. We're moving forward. Anon is working and underway and we will have an explanation and infographics on this soon.

Yes, the USB metal key is going to be a mix of Tails, Tor, and the KEY wallet. You will be able to plug the usb KEY into any usb port on your pc, boot up and be connected only to Tor encrypted without any DNS leaking or other programs making connections through regular IP. Coins will be sent through the anonymous mixers and through Tor. Best would be to use the KEY on a laptop and a public wifi.

There's a lot of things to be done and we're doing our best to meet all the goals. We've brought a couple more members on the team to help with content writing and infographics so we can present more to the community. I'm working on the website and hope to be live tonight, or possibly tomorrow.

Thanks to KEY believers for staying with us.

July 19, 2014

Quote
Tor nodes are running but are still in testing. They are currently at:

addnode=sy4mk7kcf5wy7od.onion
addnode=pmgisvikfkw2ertq.onion
addnode=3oyjqy4olc6jkmz4.onion

but we are still doing some testing. I post this update to meet my promises of daily updates. They will be live soon. The Tor nodes are part of a larger project we have in store but have not announced yet.

The anonymous coin sending system is still under testing. We are aiming for a launch day of Wednesday - please note this is not 100% solid but it is the target. If there is any delay it won't be much more time.

A sponsored a KEY logo contest is currently running on 99designs.com.

July 18, 2014 - Third update of the day.

Quote
Tor nodes are being set up now, we will post the addresses for those who wish to use them. They are being set up as part of a larger project that we haven't announced yet.


Anonymous sending tech is currently working, and in testing. We will have a functional beta release in one week, possibly sooner. We'll provide more details on its workings ASAP but we're really busy right now.

Funds are currently being raised to sponsor a KEY logo contest. We're deciding if we should do it on the forums or with one of the professional site contest holders like 99designs.com.

More updates coming soon. We will check in at least daily, yesterday we updated twice.

Thanks  just re posting news now

July 18, 2014:  More news from KEY Developers. Second update today,

Quote
We're now listed on coinmarketcap.com and doing quite well.

A website is under development, for now our holding page is up at www.keycoincrypto.com

As mentioned in the previous post, we leased more servers. We are now running 8 nodes for the coin, all staking to increase POS network health.

12 more servers have been rented so we can implement our anonymous coin sending technology. We aren't making a huge deal out of this yet, but yes, it is working, and yes, it will be completely finished and released in the next few days. We will have explanations and infographics closer to the release - for now, we don't want to hype things up too much. More features are coming, and will be announced closer to their completion.

GudLuck to ur team and Gl to All of us who still trusting on dev team even after a lot fud attacks lets keep going:)

July 18, 2014:
Quote
KEY Proof-of-Work has ended and the coin has gone into full POS.

Thank you for helping us mine securely through the small blocks at the end of POW.

We're currently working together the KEY website, and today we leased 6 more servers to start testing features.

July 17, 2014:

Quote
A Message to the Community From the KEY Team


We've spent the last 12 hours making sure our network is as stable and secure as possible. More nodes have been added and the checkpointing depth has been tweaked.

We're releasing a new wallet with DNSSEED updates so that wallets automatically connect to to nodes without editing the keycoin.conf file.

POW checkpoints have been added to the code to improve blockchain security. 

A hello to the KeyCoin community from the KeyCoin team.

Our official introduction statement: https://mega.co.nz/#!YA82hLTB!Eh-qvTzt_0fLWfPjn_jn--uyuZEEAxa3dEtngD4f4Yw

Also here for those with problems with MEGA:

KeyCoin - “Security is KEY”
An Informal Message from the KeyCoin Team
July 16, 2014


Hello community, and all our fanatical supporters. Hello to the trusty FUDsters, as well.


We the developers decided not to post until the coin had passed the large block rewards that were intended as a community bonus, and to ensure a more fair distribution. We thought this would be beneficial to our miners, investors, and community. we also wanted to measure the reaction to a unique and fair distribution method.

The rewards were originally stated as Block 2001 - 2100 would be 550 KEY payout. However, the actual large blocks came before that, from Block 1601-2000.

This was intentional. We want to reward members of the community who were mining all along, not the multipools and giant hash farms who will wait for the target block and use so much hashrate.


The actual block rewards are very similar, as follows:

Block 1 - 400: 500 KEY
Block 401 - 700: 450 KEY
Block 701 - 1000: 350 KEY
Block 1001 - 1300: 300 KEY
Block 1301 - 1600: 250 KEY
Block 1601 - 2000: 550 KEY
Block 2001 - 2100: 150 KEY
Block 2101 - 3000: 100 KEY
Block 3001 - 4000: 50 KEY
Block 4001 - 4500: 1 KEY

The last 500 block rewards are very small, to make up for the huge rewards in the middle 400 blocks. We will be assisting the mining of these if the community lacks interest.







KeyCoin Team

There are 4 full time members on this project, with the backing of some very large investors. For now, we want to keep our identities confidential. We will consider naming ourselves in the future.

We are:
Member 1 - Full time C++ programmer, skilled with QT and cryptocurrency development.

Member 2 - Python, Ruby, and PHP programmer, with a focus on web application development and API integrations.

Member 3 - Well rounded, full time graphic designer specializing in usability and interface development.

Member 4 - Community relations and PR manager, will be maintaining our website, twitter, other social media, and press releases.

We have several technologies currently in the development phase that will bring meaning and understanding to both the name “KEY” and “Security is KEY.” To separate ourselves from current hype based white paper style coin releases, we will not be announcing all of these features at launch. Instead we will be releasing them and implementing the technologies in a controlled fashion over time to ensure continuous healthy movement in the coin, and a rewarding, unique trading experience for those that choose to invest. Our goal is to create something worthy of being added to larger exchanges, eventually reaching the point of larger scale adoption, we have the devs and the financial backing to accomplish this goal.



Questions and Answers: (from BitcoinTalk Thread)

Question: Why such a low coin count?

Answer:
Several reasons, in short:

The POW mining period was limited, we did this to eliminate the ominous presence of multipool dumps as our coin grows in value over the next few weeks.

Also, we want the value of each coin to be significant, as it is one of our goals to have an eventual USD pairing.



Question: Was this coin premined or heavily instamined by the devs?

Answer:
Absolutely not! We did have a bit of hash power distributed throughout the first few pools to ensure that things went smoothly with the launch. Things went incredibly well however and we experienced a massive amount of distributed hash power on the network that continues even today. This has created a healthy environment for the coin and it’s robust network.



Question: What is different about KEY?

Answer:
KEY is a forward thinking coin. We have made some small tweaks to Proof-of-Stake code after discussing the potential hazards with other experienced developers. These small changes, and the fact that we run the nodes and private checkpointing server on powerful machines, ensure a more secure network, which proves resilient to accumulation attacks.

KEY has attracted the eyes of the crypto community. KEY has large investors onboard, a focus on security, and KEY has a fair block reward structure, with the largest payout blocks in the middle of the rewards.

We will have ongoing announcements of development work, and MEET the target dates.



Question: What are some of the upcoming milestones for KEY?

Answer:
Now that the largest blocks, the community blocks, have been mined through, we will begin establishing a presence on social media and news outlets. We will reach out to the altcoin media, and the mainstream media in the future. A website is being developed, and useful features are currently being added to the QT wallet. A new logo is underway and being tested by a hired professional focus group for it’s branding potential.

We have chosen to limit the discussion of other work related to future developments as we believe that steady growth over time is the best means of establishing longevity in this economy.

Please, do not hesitate to ask us more questions in the future, we will answer them as time permits.




We will be releasing a detailed roadmap with a clear layout of our feature development and goals, with target release dates shortly.

Stay tuned and happy trading,

The Key Team
“Security is KEY”



You will be hearing more from us, now. We wished to remain silent until the largest blocks in the middle were fairly mined - at 150gh+, these blocks were well distributed.

Self mod, I see

Guess that way trolls wont talk cr@p