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
Topic: [ANN] [PPC] PPCoin Released! - First Long-Term Energy-Efficient Crypto-Currency - page 119. (Read 684839 times)
October 07, 2012, 01:05:09 PM
October 07, 2012, 12:05:22 PM
PeePeeCoin?
PumPndumPCoin? oh that would be PPPCoin.
PumPndumPCoin? oh that would be PPPCoin.
October 07, 2012, 11:55:33 AM
Nice update
October 06, 2012, 11:00:27 PM
October 03, 2012, 03:27:22 PM
What does PP even stand for ?
PScoin ? Proof of Sake .
PScoin ? Proof of Sake .
I'lll drink to that, for Satoshi's sake
October 03, 2012, 02:47:47 PM
Unfortunately the name has been set so there is no point to change it now. Hard to come up with a name with domains not squatted already. So this was what I could come up with a year ago. On the other hand at least the symbol has good sense as its two 'P' (peers) connected.
I would expect people to gradually disassociate the pp part from certain distasteful things, should ppcoin gets very popular. So the name is likely not a big deal in my opinion.
I would expect people to gradually disassociate the pp part from certain distasteful things, should ppcoin gets very popular. So the name is likely not a big deal in my opinion.
Thanks for responding. I can see the problem w/ finding free domains. If you somehow do get the opportunity to change the name, I for one would recommend you do. The sooner the better, while it still has low adoption and awareness levels. It would just be a superficial change really, but maybe there are difficulties that I'm not seeing. Or maybe people can just informally refer to them as PCoins when spoken, since that sounds better and is easier to say, in my opinion.
I still think PPCoin is innovative and promising, I'd just be a lot more bullish about its prospects with a different name and better website.
Good luck!
PScoin ? Proof of Sake .
October 03, 2012, 02:17:11 PM
Unfortunately the name has been set so there is no point to change it now. Hard to come up with a name with domains not squatted already. So this was what I could come up with a year ago. On the other hand at least the symbol has good sense as its two 'P' (peers) connected.
I would expect people to gradually disassociate the pp part from certain distasteful things, should ppcoin gets very popular. So the name is likely not a big deal in my opinion.
I would expect people to gradually disassociate the pp part from certain distasteful things, should ppcoin gets very popular. So the name is likely not a big deal in my opinion.
Thanks for responding. I can see the problem w/ finding free domains. If you somehow do get the opportunity to change the name, I for one would recommend you do. The sooner the better, while it still has low adoption and awareness levels. It would just be a superficial change really, but maybe there are difficulties that I'm not seeing. Or maybe people can just informally refer to them as PCoins when spoken, since that sounds better and is easier to say, in my opinion.
I still think PPCoin is innovative and promising, I'd just be a lot more bullish about its prospects with a different name and better website.
Good luck!
October 03, 2012, 01:47:26 PM
I posted this in the Newbie forum but going to post here too so Sunny King can see.
I like the idea behind PPCoins and it seems like POS is a promising and energy efficient way to secure the block chain long term.
However, I really wish the name were different. PPCoins looks ok when written down, but the way it's spoken (pee pee coins) sounds ridiculous. PCoin, PeerCoin, GreenCoin (to highlight its energy efficiency, people love green stuff) all would sound much better in my opinion, as just a few examples.
I also wish the website were easier to navigate and understand. Just something clean and simple would work. As it is I think it probably confuses a lot of people, especially if they don't already know what PPCoins are.
I only intend for this to be constructive criticism as I'd like to see PPCoins succeed.
I like the idea behind PPCoins and it seems like POS is a promising and energy efficient way to secure the block chain long term.
However, I really wish the name were different. PPCoins looks ok when written down, but the way it's spoken (pee pee coins) sounds ridiculous. PCoin, PeerCoin, GreenCoin (to highlight its energy efficiency, people love green stuff) all would sound much better in my opinion, as just a few examples.
I also wish the website were easier to navigate and understand. Just something clean and simple would work. As it is I think it probably confuses a lot of people, especially if they don't already know what PPCoins are.
I only intend for this to be constructive criticism as I'd like to see PPCoins succeed.
Unfortunately the name has been set so there is no point to change it now. Hard to come up with a name with domains not squatted already. So this was what I could come up with a year ago. On the other hand at least the symbol has good sense as its two 'P' (peers) connected.
I would expect people to gradually disassociate the pp part from certain distasteful things, should ppcoin gets very popular. So the name is likely not a big deal in my opinion.
October 03, 2012, 12:44:11 PM
I posted this in the Newbie forum but going to post here too so Sunny King can see.
I like the idea behind PPCoins and it seems like POS is a promising and energy efficient way to secure the block chain long term.
However, I really wish the name were different. PPCoins looks ok when written down, but the way it's spoken (pee pee coins) sounds ridiculous. PCoin, PeerCoin, GreenCoin (to highlight its energy efficiency, people love green stuff) all would sound much better in my opinion, as just a few examples.
I also wish the website were easier to navigate and understand. Just something clean and simple would work. As it is I think it probably confuses a lot of people, especially if they don't already know what PPCoins are.
I only intend for this to be constructive criticism as I'd like to see PPCoins succeed.
I like the idea behind PPCoins and it seems like POS is a promising and energy efficient way to secure the block chain long term.
However, I really wish the name were different. PPCoins looks ok when written down, but the way it's spoken (pee pee coins) sounds ridiculous. PCoin, PeerCoin, GreenCoin (to highlight its energy efficiency, people love green stuff) all would sound much better in my opinion, as just a few examples.
I also wish the website were easier to navigate and understand. Just something clean and simple would work. As it is I think it probably confuses a lot of people, especially if they don't already know what PPCoins are.
I only intend for this to be constructive criticism as I'd like to see PPCoins succeed.
October 02, 2012, 08:32:16 PM
FYI
Total network money supply surpassed 10M coins at block 8186.
Total network money supply surpassed 10M coins at block 8186.
October 02, 2012, 03:49:40 PM
Good,
Could you make a locked thread we can subscribe to to get these updates ?
Could you make a locked thread we can subscribe to to get these updates ?
Weekly updates are linked on wiki page: https://github.com/ppcoin/ppcoin/wiki/Weekly-updates
+1 but I don't see an easy way to get email notifications with the wiki.
Due to popular request I would start posting weekly updates to a separate thread with links in the main thread.
Thanks!
October 01, 2012, 07:47:01 PM
Sorry for the silly question but Is Sunny King / Sunny K the owner of BFL ?
Hmm I never thought of that. But it would be funny if it were.
Perhaps he can answer for himself eh Sunny?
October 01, 2012, 07:46:01 PM
Sorry for the silly question but Is Sunny King / Sunny K the owner of BFL ?
October 01, 2012, 04:27:49 PM
Good,
Could you make a locked thread we can subscribe to to get these updates ?
Could you make a locked thread we can subscribe to to get these updates ?
Weekly updates are linked on wiki page: https://github.com/ppcoin/ppcoin/wiki/Weekly-updates
+1 but I don't see an easy way to get email notifications with the wiki.
September 30, 2012, 12:27:26 PM
Weekly Update #6
Thank all for your kind support and have a great week!
- This week we have seen a lot more proof-of-stake blocks generated on the block chain. More and more users are seeing stake values and getting familiar with the proof-of-stake process. It is expected that proof-of-stake difficulty continue to drop from the current 16 in the following week. Eventually proof-of-stake block should approach 10-minute block spacing target and proof-of-work blocks approach ~30-minute spacing.
- I have published an auxiliary transaction proposal for a future major release of ppcoin. In my opinion it would enable ppcoin to serve as a general peer-to-peer infrastructure for many advanced future peer-to-peer applications, such as marketplace. Interested developers are welcome to review the proposal and give comments and suggestions.
- Work has started on v0.3. My current plan is to have v0.3 ready within four weeks approximately.
Thank all for your kind support and have a great week!
September 27, 2012, 09:07:19 AM
Thanks for doing all the hard work to create this great project.
However, for the record:
1) Proof-of-stake is brought up by Quantum Mechanic in mid-July. Meni, myself, and others, discus implementations shortly afterwards.
https://bitcointalksearch.org/topic/m.349645
2) Pure proof-of-stake implementations based on coin-age are brought up in mid-August 2011.
https://bitcointalksearch.org/topic/m.462913
However, for the record:
1) Proof-of-stake is brought up by Quantum Mechanic in mid-July. Meni, myself, and others, discus implementations shortly afterwards.
https://bitcointalksearch.org/topic/m.349645
2) Pure proof-of-stake implementations based on coin-age are brought up in mid-August 2011.
https://bitcointalksearch.org/topic/m.462913
Cunicula you are one of the more reasonable ones among fellow designers and willing to give some credit to ppcoin project. So thanks for that.
I'd give you that you and meni started your designs a couple months before us. Although we are the first to bring a working design to the market.
September 27, 2012, 04:40:45 AM
Also we came up with ppcoin design probably around or before when Rosenfeld/Cunicula did theirs (we started design work in October 2011)
Thanks for doing all the hard work to create this great project.
However, for the record:
1) Proof-of-stake is brought up by Quantum Mechanic in mid-July. Meni, myself, and others, discus implementations shortly afterwards.
https://bitcointalksearch.org/topic/m.349645
2) Pure proof-of-stake implementations based on coin-age are brought up in mid-August 2011.
https://bitcointalksearch.org/topic/m.462913
September 26, 2012, 10:52:03 PM
what is the status of this? How many adopters, market cap...please post in OP
September 26, 2012, 05:23:34 PM
Is there anything about the ppcoin protocol that will prevent bitcoin ASIC's from mining it? If there is, I'd see ppc as a legit alternate mining market where non ASIC tech could potentially thrive.
Unlike Litecoin we do not try to hamper ASIC technology based on some democratic ideology. My understanding of the market is that whoever invests in ASIC probably deserves the mining income, as everyone is free to do so by their own choice. Not to mention once ASIC is fully deployed Bitcoin network would become more secure against 51% attack. But I don't think initially ASIC owners would mine ppcoin as our mining market is quite small, and our continuous adjustment of difficulty would be too much risk for them to lose money compared to mining bitcoin.
But we shall see what happens in a few short months I guess. If so happens that Litecoin benefits a lot from this technology shift I am happy for Litecoin too as that'd be their deserved reward from the market.
September 26, 2012, 04:52:24 PM
Anything stopping ppcoin from being merge-mined ?
My understanding is that the designers of ppcoin wanted it not to be MM compatible, and its definitely not currently.
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