Topic: [ANN] [PPC] PPCoin Released! - First Long-Term Energy-Efficient Crypto-Currency - page 35. (Read 685091 times)
November 25, 2017, 01:11:42 PM
PPC is one of the oldest legacy coins out there, its like a close family friend, hope it finally has a chance to go $50 next year!
November 25, 2017, 03:51:45 AM
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November 24, 2017, 02:06:11 AM
Cold minting will take a hardfork to accomplish. It is possible we will see it rolled out in the next couple updates, but as it is still somewhat controversial I would rather not specify a timeline yet.
November 24, 2017, 12:43:39 AM
I read somewhere that peercoin is working on an implementation of cold minting from a hardware wallet like Ledger Nano S. When do you foresee this to be implemented?
November 24, 2017, 12:35:32 AM
If the attacker forms a chain with higher chainweight, checkpoints won't hinder or help the reorg. That higher weight chain will replace all instances of the current chain, regardless of if they have checkpoints enforced or not. The only way to use checkpoints in an attack is to block the checkpoint server from the open internet. The thing is, it's near impossible to find the IP address of the checkpoint server, because checkpoint authority is based on a cryptographic signature rather than an IP address.
November 23, 2017, 04:58:48 PM
What do you mean when you say "lured into an attack chain"? If the false chain is does not have more chainweight than the true chain, then you would have to prevent the checkpoint server from accessing the open internet, a feat that becomes very difficult if we implement multisig. If it does have more chainweight, then it is by definition the true chain, so broadcasting it is not an issue.
I'm referring here to the "long-range attack" or "history attack" - e.g. the attacker would buy a large stake of coins, deposit them on his wallet (so he can cryptographically prove he "possessed" them), and then sell them again, but secretly minting a chain where he transfers the coins he supposedly sold to an address he controls via a double spend.
This chain would need to be "designed" so that it accumulates more chain weight than the "true" chain (so it's not a cheap attack -> he, in some moment, would have to possess a very large amount of coins, but he can sell them again).
If he can manage to spot the IP address of the "checkpoint server", I suppose he can try to lure him into a reorganization using his attack chain on multiple "fake nodes" that would try to connect to the checkpoint server.
It would be very probably worse than a normal history attack (where the attacker is trying to "lure" large minters into his chain) if most nodes still follow the centrally broadcasted checkpoints.
November 23, 2017, 04:17:25 AM
What do you mean when you say "lured into an attack chain"? If the false chain is does not have more chainweight than the true chain, then you would have to prevent the checkpoint server from accessing the open internet, a feat that becomes very difficult if we implement multisig. If it does have more chainweight, then it is by definition the true chain, so broadcasting it is not an issue.
Isolating the checkpoint server from the open internet is similar to isolating a single large minter. You really can't do limitless damage, as all transactions and blocks have to be cryptographically valid. The maximal disruption is probably along the lines of causing a fork between checkpoint enforced and checkpoint unenforced that will reorg to the heavier chain when the checkpoint server sees the open internet again.
Isolating the checkpoint server from the open internet is similar to isolating a single large minter. You really can't do limitless damage, as all transactions and blocks have to be cryptographically valid. The maximal disruption is probably along the lines of causing a fork between checkpoint enforced and checkpoint unenforced that will reorg to the heavier chain when the checkpoint server sees the open internet again.
November 22, 2017, 10:40:07 PM
Checkpoints were made optional via an easily accessible checkbox in v0.6. Developers still believe checkpoints have value as a voluntary option, especially if we do something like multisig checkpoints in the future. Turning this feature off is currently as easy as unchecking a box in settings>options.
Yep, I knew that. However, even if some nodes disable the centrally broadcasted checkpoints, some will still follow them - and that converts them, in theory, in a vulnerability (it's not that the checkpoint key owner had to be an attacker, but it could be the case that his checkpoint server gets "lured" into an attack chain by an attacker), above all, if the checkpoint option is used by nodes that are minting.I would prefer a rolling checkpoint scheme like in NXT and many other PoS cryptocoins. Or even Vitalik's exponential subjective scoring.
November 22, 2017, 06:09:02 PM
November 22, 2017, 12:27:22 PM
excellent projet .. je vais voir si je peut investir dans ce ico cette année j'ai investit dans beaucoup de ico pourquoi pas celui la 
November 20, 2017, 03:44:37 PM
centrally broadcasted checkpoints.
Checkpoints were made optional via an easily accessible checkbox in v0.6. Developers still believe checkpoints have value as a voluntary option, especially if we do something like multisig checkpoints in the future. Turning this feature off is currently as easy as unchecking a box in settings>options.
November 20, 2017, 02:59:41 PM
The chainweight in Peercoin's security model was switched from coindays to PoS difficulty some time ago, coindays are only used to determine the mint reward. So your concerns have already been accounted for in Peercoin.
Ah, ok, thanks for the information!
In this case, I think Peercoin - with the cold minting feature - would be fully prepared for the abolition of the centrally broadcasted checkpoints.
November 20, 2017, 01:56:24 PM
A maybe controversial comment: I'm for the abolition of the concept of coin-days entirely. That would, obviously, mean to follow the path that NXT and Peercoin clones like Blackcoin have taken, and for some may mean "throwing basic Peercoin principles". But afaik research on this topic, by various parties, has shown that coin-days is doing more harm than it is protecting the chain - because attackers, with this mechanism, can always accumulate more power with less stake and once they've accumulated enough power to be near an attack, can only be stopped with immense amounts of "staking coins".
The chainweight in Peercoin's security model was switched from coindays to PoS difficulty some time ago, coindays are only used to determine the mint reward. So your concerns have already been accounted for in Peercoin.
November 20, 2017, 01:16:39 PM
That are awesome news! I'm waiting for cold minting for years ...
Time to come back to Peercointalk?
I've superficially read the Medium article and so far it seems a good proposal, will re-read it later because I've still not entirely understood some of the technical details.
A maybe controversial comment: I'm for the abolition of the concept of coin-days entirely. That would, obviously, mean to follow the path that NXT and Peercoin clones like Blackcoin have taken, and for some may mean "throwing basic Peercoin principles". But afaik research on this topic, by various parties, has shown that coin-days is doing more harm than it is protecting the chain - because attackers, with this mechanism, can always accumulate more power with less stake and once they've accumulated enough power to be near an attack, can only be stopped with immense amounts of "staking coins".
Time to come back to Peercointalk?
I've superficially read the Medium article and so far it seems a good proposal, will re-read it later because I've still not entirely understood some of the technical details.
A maybe controversial comment: I'm for the abolition of the concept of coin-days entirely. That would, obviously, mean to follow the path that NXT and Peercoin clones like Blackcoin have taken, and for some may mean "throwing basic Peercoin principles". But afaik research on this topic, by various parties, has shown that coin-days is doing more harm than it is protecting the chain - because attackers, with this mechanism, can always accumulate more power with less stake and once they've accumulated enough power to be near an attack, can only be stopped with immense amounts of "staking coins".
November 20, 2017, 12:35:00 PM
Peercoin Update #8: The Peercoin Team outlines protocol changes that will enable cold minting, a way for proof of stake blocks to be securely minted offline from cold storage, helping to drastically expand the number and participation of minters, increasing network security...
https://medium.com/@PeercoinPulse/a-path-to-cold-minting-252acd310e82
We'd appreciate comments from the community.
Forum Post: https://talk.peercoin.net/t/update-8-a-path-to-cold-minting-a-way-for-proof-of-stake-blocks-to-be-securely-minted-offline-from-cold-storage-expanding-the-participation-of-minters-increasing-network-security/6465
Twitter: https://twitter.com/PeercoinPPC/status/932660836862189569
Reddit: https://www.reddit.com/r/CryptoCurrency/comments/7ea6en/a_path_to_cold_minting_a_way_for_proof_of_stake/
https://medium.com/@PeercoinPulse/a-path-to-cold-minting-252acd310e82
We'd appreciate comments from the community.
Forum Post: https://talk.peercoin.net/t/update-8-a-path-to-cold-minting-a-way-for-proof-of-stake-blocks-to-be-securely-minted-offline-from-cold-storage-expanding-the-participation-of-minters-increasing-network-security/6465
Twitter: https://twitter.com/PeercoinPPC/status/932660836862189569
Reddit: https://www.reddit.com/r/CryptoCurrency/comments/7ea6en/a_path_to_cold_minting_a_way_for_proof_of_stake/
November 20, 2017, 10:29:21 AM
peerchemistPeercoin Project Leader1d
Time to remake peercoin.net, let me know if you are interested with link to your portfolio.
2 Likes
Time to remake peercoin.net, let me know if you are interested with link to your portfolio.
2 Likes
November 20, 2017, 09:01:02 AM
Me and my uncle bought about 40 PPC at $1 each. Plan to hold them long term, felt it was a good investment because it is the first POS coin, im amazed its not gone up before now to be honest.
November 19, 2017, 01:41:50 PM
The difficulty is rising on peercoin over the last week up,about 20 percent
November 19, 2017, 07:45:54 AM
Before Peercoin's been following litecoin why now everything has changed who knows?
I guess it has to do with two factors:
- Litecoin has sucessfully "rebranded" as the first larger cryptocurrency that activated Segwit and is implementing the Lightning Network. Analyzing their price charts you can clearly see the impact of this decision.
- Peercoin had a loooooooong time without substantial updates. Even the new 0.6+ version is still based on the olde 0.8 code, but it's a significant improvement and developers - as far as I know, I asked in the Peercointalk forum - are now preparing to update the code to a really modern Bitcoin version.
So if you asked me - PPC may have bottomed now, and may be an opportunity (Disclaimer: I hold a few Peercoins).
November 18, 2017, 08:06:29 AM
Before Peercoin's been following litecoin why now everything has changed who knows?
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