[ANN] [PPC] PPCoin Released! - First Long-Term Energy-Efficient Crypto-Currency - page 118.

AndyRossy

sr. member

Activity: 448

Merit: 250

Quote from: Sunny King on October 14, 2012, 12:35:07 PM

Quote from: Remember remember the 5th of November on October 14, 2012, 12:23:15 PM

I am sure it's been asked a lot, but there are dozens of pages here and searching would not be effective. But can someone tell me how you generate proof-of-stake blocks?
I know that you need to let the money "rot" for 30 or so days and then automagically blocks 'might' appear, but I'd really like a better explanation.

And what about the stake part? By stake I assume gambling where it's a win OR lose meaning I could find a proof-of-stake block or lose my money?

No you don't lose the stake it's only withheld for a few days after generating a block for the network. Here stake means more like shares than the gambling stake.

For more explanations on this topic please see our FAQ: https://github.com/ppcoin/ppcoin/wiki/FAQ

I will probably in next couple weeks put all the information together and form a secondary FAQ.

Remember remember the 5th of November

legendary

Activity: 1862

Merit: 1011

Reverse engineer from time to time

Ok, but is it possible in future versions to add a field in listtransactions that shows the age of the coins(in days if possible)? So I can for instance calculate faster and easier how much till they are stake?
Also, in the FAQ it says it will TRY to generate a stake block, what conditions control if I generate one or don't? And how often will it try to generate a stake block?

Sunny King

legendary

Activity: 1205

Merit: 1010

Quote from: Remember remember the 5th of November on October 14, 2012, 12:23:15 PM

I am sure it's been asked a lot, but there are dozens of pages here and searching would not be effective. But can someone tell me how you generate proof-of-stake blocks?
I know that you need to let the money "rot" for 30 or so days and then automagically blocks 'might' appear, but I'd really like a better explanation.

And what about the stake part? By stake I assume gambling where it's a win OR lose meaning I could find a proof-of-stake block or lose my money?

No you don't lose the stake it's only withheld for a few days after generating a block for the network. Here stake means more like shares than the gambling stake.

For more explanations on this topic please see our FAQ: https://github.com/ppcoin/ppcoin/wiki/FAQ

Remember remember the 5th of November

legendary

Activity: 1862

Merit: 1011

Reverse engineer from time to time

I am sure it's been asked a lot, but there are dozens of pages here and searching would not be effective. But can someone tell me how you generate proof-of-stake blocks?
I know that you need to let the money "rot" for 30 or so days and then automagically blocks 'might' appear, but I'd really like a better explanation.

And what about the stake part? By stake I assume gambling where it's a win OR lose meaning I could find a proof-of-stake block or lose my money?

AndyRossy

sr. member

Activity: 448

Merit: 250

Quote from: Liquid on October 11, 2012, 06:49:24 AM

We need PPC on https://btc-e.com/ Cheesy

+1, although doublec's bitparking exchange is still nice.

Liquid

hero member

Activity: 826

Merit: 500

Crypto Somnium

and mtgox

luffy

hero member

Activity: 607

Merit: 500

I would prefer mtgox Wink

Liquid

hero member

Activity: 826

Merit: 500

Crypto Somnium

We need PPC on https://btc-e.com/ Cheesy

MaximousDarwin

newbie

Activity: 14

Merit: 0

Please continue the good work

Cheers!

AndyRossy

sr. member

Activity: 448

Merit: 250

woop thanks to doublec, ppc has now been actively traded on bitparking exchange for just over a month, with most days having volumes in the hundreds of thousands

cunicula

legendary

Activity: 1050

Merit: 1003

So price volatility is amplified by downward sloping supply. Weird, but okay. It doesn't matter in the long-run.

AndyRossy

sr. member

Activity: 448

Merit: 250

Quote from: Jutarul on October 08, 2012, 09:27:55 AM

Quote from: Sunny King on October 08, 2012, 08:56:18 AM

Quote from: cunicula on October 08, 2012, 03:00:08 AM

Question: Is the proof-of-work mint rate path dependent (i.e. does it depend on both current and past difficulty?); (or does it only depend on current difficulty?)

Question: Assuming the mint rate is path dependent, if someone was to take huge hashing power online and offline repeatedly (say one week online; one week offline; repeat), would this process progressively drive down the mint rate?

No memory involved, only current proof-of-work difficulty determines mint: mint = 9999 / (difficulty ** 0.25)

But the difficulty is a running average, correct? IMHO, that may explain the large oscillations we've seen: Someone with huge hashing power hashes for 3-4 days and waits for a few days, for the difficulty to cool down, rinse and repeat. It's rational: In the beginning the huge hashing power is more effective since the difficulty weighting takes into account prior times for lower diff. These leads to a situation where the baseline of miners effectively pays for the efficiency gain in mining of the large entity miner... Sad

When the large-entity miner stops, the casual miner now enjoys lowering mining difficulty levels too without any cost aswell though.

The reason we're seeing the oscillations is, that as soon as it becomes more profitable to mine PPC compared to BTC, people move over. It's like pool-hopping, but, on a currency level.

Jutarul

donator

Activity: 994

Merit: 1000

Quote from: Sunny King on October 08, 2012, 08:56:18 AM

Quote from: cunicula on October 08, 2012, 03:00:08 AM

Question: Is the proof-of-work mint rate path dependent (i.e. does it depend on both current and past difficulty?); (or does it only depend on current difficulty?)

Question: Assuming the mint rate is path dependent, if someone was to take huge hashing power online and offline repeatedly (say one week online; one week offline; repeat), would this process progressively drive down the mint rate?

No memory involved, only current proof-of-work difficulty determines mint: mint = 9999 / (difficulty ** 0.25)

But the difficulty is a running average, correct? IMHO, that may explain the large oscillations we've seen: Someone with huge hashing power hashes for 3-4 days and waits for a few days, for the difficulty to cool down, rinse and repeat. It's rational: In the beginning the huge hashing power is more effective since the difficulty weighting takes into account prior times for lower diff. These leads to a situation where the baseline of miners effectively pays for the efficiency gain in mining of the large entity miner... Sad

Sunny King

legendary

Activity: 1205

Merit: 1010

Quote from: cunicula on October 08, 2012, 03:00:08 AM

Question: Is the proof-of-work mint rate path dependent (i.e. does it depend on both current and past difficulty?); (or does it only depend on current difficulty?)

Question: Assuming the mint rate is path dependent, if someone was to take huge hashing power online and offline repeatedly (say one week online; one week offline; repeat), would this process progressively drive down the mint rate?

No memory involved, only current proof-of-work difficulty determines mint: mint = 9999 / (difficulty ** 0.25)

AndyRossy

sr. member

Activity: 448

Merit: 250

Quote from: Jutarul on October 07, 2012, 01:21:57 PM

Quote from: wachtwoord on October 07, 2012, 01:05:09 PM

Regarding the proof of stake, can someone explain to me exactly how it works? I understand that blocks are signed by a means of how many coins you have multiplied by how long you have them, but how does it work in practice? For example:

1) Who decides when a proof of stake block is "mined"?
2) Can you only "mine" such blocks when you have ppcoind running?
3) What happens when a block is mined? I understand the traditional mining process but I am completely lost how this should work. Coins are passive right? How can they sign anything?

So can someone give me a heads up? The FAQ (https://github.com/ppcoin/ppcoin/wiki/FAQ) is really lacking

Unfortunately the most reliable information is the source code. I doubt that there will be plenty of design documents anytime soon because nobody really has an incentive to create them.

I might start a wiki and gather up as much information as I can find around these threads, quite a lot of the tech-stuff has been posted, just yes, very hard to find Sad

cunicula

legendary

Activity: 1050

Merit: 1003

Quote from: DoomDumas on October 08, 2012, 12:58:36 AM

Sunny King like Sunny K from BFL !! the same person ? (like others ask, did'nt saw any answer) !

Question: Is the proof-of-work mint rate path dependent (i.e. does it depend on both current and past difficulty?); (or does it only depend on current difficulty?)

Question: Assuming the mint rate is path dependent, if someone was to take huge hashing power online and offline repeatedly (say one week online; one week offline; repeat), would this process progressively drive down the mint rate?

DoomDumas

legendary

Activity: 1002

Merit: 1000

Bitcoin

Sunny King like Sunny K from BFL !! the same person ? (like others ask, did'nt saw any answer) !

Jutarul

donator

Activity: 994

Merit: 1000

Quote from: Liquid on October 07, 2012, 10:57:09 PM

1 question say you have a lot of coins in a wallet say 1 million would it be safer to encrypt the wallet so you don't get hacked or put into cold storage .. but if you do this will you miss out on minting the coins / POS or is it safe to leave it unencrypted ?

sorry for my ignorance still learning

For the minting the wallet has to be unencrypted/unlocked. I don't know what the max lock time is. E.g. you could start an instance of ppcoin and then unlock it for a few months (3600*24*90). This would give you a little bit of protection.

The problem with cold storage is that there is currently no way to mint coinstake. I tried to get the discussion started in a dedicated thread: https://bitcointalksearch.org/topic/ppcoin-offline-coinstake-creation-115608
One of the issues seems to be that the information for the signature currently has to reside with the validation node, which makes cold storage impractical for POS mining.

Liquid

hero member

Activity: 826

Merit: 500

Crypto Somnium

1 question say you have a lot of coins in a wallet say 1 million would it be safer to encrypt the wallet so you don't get hacked or put into cold storage .. but if you do this will you miss out on minting the coins / POS or is it safe to leave it unencrypted ?

sorry for my ignorance still learning

Jutarul

donator

Activity: 994

Merit: 1000

Quote from: wachtwoord on October 07, 2012, 01:05:09 PM

Regarding the proof of stake, can someone explain to me exactly how it works? I understand that blocks are signed by a means of how many coins you have multiplied by how long you have them, but how does it work in practice? For example:

1) Who decides when a proof of stake block is "mined"?
2) Can you only "mine" such blocks when you have ppcoind running?
3) What happens when a block is mined? I understand the traditional mining process but I am completely lost how this should work. Coins are passive right? How can they sign anything?

So can someone give me a heads up? The FAQ (https://github.com/ppcoin/ppcoin/wiki/FAQ) is really lacking

Unfortunately the most reliable information is the source code. I doubt that there will be plenty of design documents anytime soon because nobody really has an incentive to create them.

Topic: [ANN] [PPC] PPCoin Released! - First Long-Term Energy-Efficient Crypto-Currency - page 118. (Read 684864 times)