Topic: [ANN] [PPC] PPCoin Released! - First Long-Term Energy-Efficient Crypto-Currency - page 110. (Read 684839 times)

LTC had about 5 million LTC in the first 3 months. It's just a number.

why are there over 14 million ppc coins? (more than btc all time) in just a few months?

Bitcoin 0.7 features would be supported in a future update release, but is still at least a couple months away I estimate.

If you need the pool running soon then maybe need to patch ppcoind, or use your older code for now.

Good luck!

ppcpool.bitparking.com ?

and guess what: https://github.com/ppcoin/ppcoin/wiki/List-of-services-on-market

Cheers!

Sunny,

Any chance of BIP 22 functionality in the next release?

It would be nice to use eloipool for the PPC portion of the mining pool I am working to bring online.

If it is not going to happen, just let me know, so I can start working on an older piece of pool software for the PPC section.

Did you change worker type to "PPC"? ( "My Account" page )

no connection to the PPC or ltc pools connection refused and when btc coins no problems

What problem are you having with coinotron?  It is working just fine for me. 

getinfo does not deal with specific transactions. Relevant commands would be 'listtransactions', 'gettransaction' and 'getblock'. Although currently it is still a bit tricky if you want to know whether a given transaction is a stake transaction from only these commands.

where can i mine ppc as coinotran is not working

is it possible to also see this with the daemon "getinfo" or something else? i am developing an web gui for all kinds of cryptocoins as using the RPC api calls for interaction...

Upgrading to a v0.2.2 gui should show it properly as a 'mint by stake' transaction.

There is a random arrival rate for each input (with the probability of arrival per unit time proportional to input value*age, with age accumulation capped at 60 days). You are constantly trying to find a winning permutation with all the inputs you have. The inputs from 10/29 happened to get lucky. These inputs probably won't find a block for another month or so [I'm guessing]. Your other inputs are still making attempts and should get lucky soon enough (provided you keep the client running).

Thanks cunicula, that explains a lot.

Why didn't I use the even older inputs I had to mint the proof-of-stake block? Like the 500.824654 PPC from 10/28?

That is stake generation.
 
You had 284.491818 coins which you withdrew from bitparking about 34.7 days ago on 10/29 before this txn occurred. These inputs have sat in your wallet accumulating age.

As time passes, your client has tried to combine these inputs to mint a stake block. Each new second (or milisecond or some time unit) generates a new iteration which can allow the inputs to mint a block meeting the difficulty target. (Much like running a mining rig using the inputs as hardware.) The success rate (probability of minting per unit time) increases linearly with the product of coins*min(time since coins were received,90 days).

On Dec 3, attempts using the 284.491818 coins succeeded and you minted a block. The coins were approx 34.7 days old when your success occurred. You are entitled to 1% interest per year as reward. Your interest entitlement is then 34.7/365=0.095%. The principal was 284.491818 PPC. Therefore the interest is 0.27 PPC. The outputs will be escrowed for a while and then become spendable again (I think 30 days).

Congratulations you are 0.27 PPC richer. Your block was empty. However, had it contained txns, the fees for these txns would have been destroyed.

If you want to try double-spending, then you can accumulate a huge amount in 6 different inputs and try to get 6 blocks in a row. Just keep trying to do this in secret until they arrive fast enough to overtake the main chain. It is not clear how difficult this is. It depends on 1) how many coins you have and 2) how many other coins are searching for blocks concurrently. If most of the other coin holders are online, it is probably almost impossible (too expensive to ever be worth doing). If no one else is online, then it is trivial.

Of course this consideration is moot until checkpoints are removed.

BTW As I understand it, PoW blocks don't do anything useful in PPCoin at all. They are just there to pass out free coins. Aside from checkpoints, txns in PoW blocks are not secured with any confirmations until a PoS block is mined. (i.e. [w/o checkpoints]  Txn in PoW block = uncomfirmed txn)  This is the justification for the checkpoints.

Of course, you could ask if so, then why allow PoW blocks to have txns at all? I don't know the answer. I guess the checkpoints secure your block reward. It would seem better to include PoW generation as a txn in a proof of stake block rather than make it a "block".


 

I still don't fully understand ppcoin.



Maybe it would help if someone explained this tx to me.

+1 on the keep up the good work.

Could you consider removing mandatory checkpoints? You can always reintroduce them if problems arise. If users find checkpoints beneficial, then they will accept their reintroduction.

Keep up the good work, Sunny King. Whether or not PPCoin will succeed, I'll always pay attention to it. It may not be perfect at the beginning, but I believe it's an important step towards a better alternate cryptocurrency.

Gui work has been largely done in v0.2.2. What's left is to support gui builds in official build. Currently there are gui builds done by community members.

I have outlined my plan for 2013 in my other post about an auxiliary transaction design. This design allows transaction to expire and reclaim the space it uses in the block chain. Then supporting features similar to those of namecoin would be considered, and allow ppcoin to be used by other apps as a distributed key-value store with expiration. This design would allow ppcoin to scale better than namecoin for these applications.

I am also going to look into making a test app for a web-of-trust system, to utilize the above feature.

In the meantime, security and proper operation of ppcoin network is still my top priority. So the auxiliary transaction proposal is secondary depending on other more important work.