Topic: [ANN] SpreadCoin | True Decentralization (No Pools) | Testing New Masternodes - page 19. (Read 20110 times)

Nice new thread MyFarm/Spreadcoin_ ! I for one will be glad to see the handful of aggressive FUDster/trolls that have plagued the other thread not able to continue their disruptive behaviour here. But I'd be keen to still ensure people asking hard or difficult questions aren't shunned either. I'm sure you'll give people a reasonable chance to ask or vent before (when it's obvious what their objectives are) they're shut down. All the best.

Done!

Thanks.

don't forget to add the new block explorer link to OP. :-)

If you have suggestions for content to add to the FAQ here: https://bitcointalksearch.org/topic/m.10359173 or suggestions for edits, please speak up.

Quick visual reminder of Spread's pool-free solo mining working as intended - this is a thing of beauty:


Source: http://104.36.83.126/spreadcoin/

For contrast, here is Darkcoin:


Source: https://chainz.cryptoid.info/drk/#!extraction

Most PoW coins suffer from mining centralisation, Darkcoin is nothing out of the ordinary sadly.

Go away. If you don't like this coin,just go away. Buy or sell, it's up to investor-self. Don't play adviser.

What was the bounty up to for the public pool?  3500 SPR?  Or 2500?  I want to add it to the FAQ.

For those that didn't see the first round of masternode testing, it went on at Spreadcointtalk.org in this thread: http://spreadcointalk.org/index.php?topic=37.0

It was a resounding success!  Mr. Spread has very much proven himself to be a top-tier developer.

He is now working on a second build which we hope to test in a couple of days and will be announced here.

Too much hate against SPR.

So nice.

Let the dumping Begin

To celebrate the new thread without trolls, I've create a nice buy wall on Bittrex

If you find yourself in need of volunteers I'm game.

No.  This is MyFarm, he gave me permission to create this thread.  He will be given the login credentials when his temp ban is lifted.  A couple other people will be trusted with credentials so the trolls can be deleted 24/7.

Mr. Spread = Spreadcoin_ ?

Frequently Asked Questions

Q.  Why was the original thread locked and discussion moved here?
A.  Trolls and FUDsters took over.  While we welcome difficult questions and want to be fully transparent, some people chose to create misinformation and make the thread unusable for normal tasks and communication.  As such, it was decided to move the discussion here.  Again, we welcome difficult questions and important ones will be added to this FAQ.  The original thread can be seen here: https://bitcointalksearch.org/topic/ann-spreadcoin-true-decentralization-no-pools-testing-new-masternodes-715435

Q.  Is it possible to create pools?
A.  If a pool is created, any miner can steal all of the blocks.  Theories have been put forth on ways to get around this such as coding in a collateral system, but none have been created.  There is currently a 3500 SPR bounty on the creation of a public pool that successfully runs with no stolen coins for 30 days.

Q.  I heard Mr. Spread (the Spreadcoin developer) lost all his coins.  Is that true?
A.  Mr. Spread mined 80,000 coins that he then lost in an unfortunate accident with his wallet.  He was never able to recover them.  As he no longer had any coins, the community stepped up and donated a little more than 65,000 coins to him so he would have cause to continue to develop the coin.  You can read about this starting here and see how Mr. Spread and the community conduct themselves. 

Q. Was there an instamine?
A. No. There was a hardfork at block 2200 to make things more suitable to solo mining. From this block forward, the block reward was reduced from 66.66 SPR to 6.66 SPR (diminishing over time as per the supply curve in the OP) and the blocktime was reduced from 10 minutes to 1 minute. The Spread generation speed and total supply thus remain the same, as one tenth of the SPR is being generated ten times as often.

Q.  What purpose will masternodes serve?
A.  Masternodes will allow for InstantX and additional functionality will be added in the future.  Stay tuned...

About Masternodes

Masternodes are nodes which have a certain amount of Spreadcoin locked within them and add additional functionality to the Spreadcoin network.  In return for this functionality, Spreadcoin masternode owners receive a percentage of Spreadcoin mined in each block (currently 30% on testnet).  The concept was originally developed by Evan Duffield of Darkcoin fame but Spreadcoin masternodes have been rewritten from scratch.

All the numbers in this post describe testnet, they can change when we introduce masternodes to mainnet.

Is SpreadCoin implementation based on DarkCoin code?
No, this is original implementation.

How is it different from DarkCoin?
In SpreadCoin there are no centralized reference nodes to decide which masternodes should receive payments, it is decided by the network in decentralized manner. In DarkCoin the messages which select masternodes are separate from the blockchain and are distributed independently. This way it is possible that nodes will have different opinion on what masternode should receive next payment. In SpreadCoin all votes for masternodes will be stored in blocks and the payee will be uniquely determined from the previous blocks. Just like you can check that any transaction included in the block is correct by comparing its inputs with outputs in previous blocks you will be able to check that masternode payment is correct by checking previous blocks. Why bitcoin is so reliable? Because all nodes have exactly the same rules how to determine which blockchains are correct and which one is better (required more work) than others, these rules are only depended on blocks themselves, not on the order in which they were received them nor on any other messages which you may or may not receive in time. The network can be unstable in the case of some major event which will break connectivity between nodes but once connectivity between nodes is reestablished all nodes will stick to the same blockchain. The same will apply to SpreadCoin.

How masternodes are elected?
Each node monitor the network and assign scores to each masternode. This scores depend on how well masternodes provide their services, for instant transactions this will be time delay between transaction and its confimation by masternode. Since there may be no transactions and only elected masternodes will confirm transactions there is an empty service - each masternode will broadcast messages signining certain blocks to prove that it is running. Miners will include votes in their blocks. Votes can either be positive (elect not yet elected masternode) or negative (deelect already elected masternode). If masternode has more than 30 positive votes in the last 60 blocks then it is added to the list of elected masternodes. If masternode has more then 30 negative votes in the last 60 blocks then it is removed from the list of elected masternodes. Note that it is possible to determine which masternodes were elected at each particular block.

Can miners cheat to elect their own masternodes?
The system is designed in such a way that all miners will make almost the same votes. Thus, unless you control more than 50% of the hashrate you couldn't actually affect the voting process because you will be outvoted by the rest of the network.

Wouldn't storing votes in blockchain make it too large?
No, there is a limit of 10 votes per block and most blocks will have less votes.

How will masternodes receive payments?
In each block part of the reward (30%) will go to masternode instead of the miner. Elected masternodes are sorted according to their identifiers and receive payments in order, there is no randomness in this process. Since it is possible to uniquely determine which masternodes are elected solely from the blockchain it is also possible to uniquely determine which masternode should receive the payment, nodes cannot disagree on this.

How much SPR is required to run a masternode?
There is a limit of 1440 masternodes, only masternodes with top 1000 amounts will be elected to receive payments, therefore the exact amount you will need to lock will be determined by the market. This amount is locked but it is still yours, when you don't want to run your masternode anymore you can spend it.

Is static IP required to run a masternode?
It is not required and for instant transactions this is not necessary.

What is instant transaction?
It is a transaction which is confirmed by masternodes within seconds after broadcasting. Once confirmed there is guarantee that this transaction (and not any conflicting one) will be included in the blockchain.

What is the state of instant transactions implementation in SpreadCoin?
Most effort was put into developing masternode election/payments mechanism, instant transactions are currenrly not fully implemented. Although masternodes confirm them there is no logic in place to replace unconfirmed transactions with the confirmed ones in the case of double spending attacks and to reject blocks with conflicting transactions. Note that rejecting blocks based on whether or not it includes transactions which conflict with confirmed instant transactions can lead to forks but this can be solved.

Which transactions can be made instantly?
Currently these are all transactions with less than 15 inputs and fee of at least 0.001 SPR per input.

How To Create a Masternode

At present, masternodes are being tested on Spreadcointalk.org.  You are welcome to join us there and this guide will work.  Or, once masternodes are released on mainnet, simply do the following:

1.  Go to the, "Receive" tab and create a new address.  Many of us like to label our masternodes in a way we can keep track such as, "Masternode1", "Masternode 2" and so on.

2.  Go to the, "Sent" tab and send at least 100 SPR to that address.  Note that once 1440 masternodes are created, the masternodes with the least number of SPR in them become delisted.  As such, you may want to fund your masternode with more than 100.

3.  On either the, "Overview" or, "Transactions" tab, wait for 50 confirmations on the coins.

4.  Once you have 50 confirmations, go to the, "Masternodes" tab and enter the amazing GUI that Mr. Spread created.  There you will see:

http://i.imgur.com/HaKeuKc.png

5.  Under the, "Control" column you should see your masternode with an empty checkbox.  If you don't, click the, "Update" button and wait a couple seconds.  Check the box for your masternode.  

THAT IS IT!  Yes, really.  Once your masternode gets elected, you'll start receiving payments.  Yes, Mr. Spread made setting up a masternode that easy!  And yes, you can have more than one masternode per IP.


How To Setup a Masternode On Your VPS

Many of us have VPS's and want to setup masternodes that way.  This guide was created by Vertoe and the discussion can be found here.  If this helps you, Vertoe's SPR address is at the bottom of this guide, feel free to send him some SPR love!

VPS: I used Amazon Webservice running Ubuntu 14.10. This will be running the masternode.
Local: I used a Qt wallet to generate the transaction input and masternode secret.

Single masternode on one VPS.

1 VPS: Get dependencies for building spreadcoin daemon:
http://i.imgur.com/h9PG2Ujl.png

2 VPS: Get the source code:

3 VPS: And switch directory:
http://i.imgur.com/rlIbJ4kl.png

4 VPS: Checkout mn-test branch:
http://i.imgur.com/gxbRahUl.png

5 VPS: Compile the daemon:
http://i.imgur.com/6ss0ng1l.png

6 VPS: Create a config file:

7 VPS: ...and "Install" the daemon:
http://i.imgur.com/5LkPI6ql.png

8 VPS: Run the daemon:
http://i.imgur.com/Zajcc0Ql.png

9 On your local wallet, get a new address and send at least 100 coins to that address and wait for 50 confirmations.

10 On your local wallet, copy the transaction id.

11 Local: Generate a masternode secret from the transaction input by going to the console at tools > debug console. if input:0 fails, try:1, and so on until you get what you want:
http://i.imgur.com/sMkOyOll.png

12 On the VPS, put it directly into the config file:
http://i.imgur.com/3zkeTtIl.png

... wait for 50 confirmations of the tx ...

13 VPS: ...and start the masternode:
http://i.imgur.com/v4hXywIl.png

If it says "true", you are done!!!einself

Multiple masternodes on one VPS.

Repeat steps 9-13 for each masternode input with >100 SPR and >50 confirmations you have. Happy masternoding.

Worked? SSHUvYeyGQcV6z1QvFiu2SppKDTbb2ZFC1

SpreadCoin is a new cryptocurrency which is more decentralized than Bitcoin. It prevents centralization of hashing power in pools, which is one of the main concerns of Bitcoin security. SpreadCoin was fairly launched with no premine.

Mr.Spread - Main Core Developer Profile https://bitcointalksearch.org/user/mr-spread-360096

Pool Prevention
To prevent pools each block must be signed with the private key which correspondents to the coinbase transaction. See whitepaper for more details.

Parameters

• Algorithm: SpreadX11
• Block generation: 1 minute
• Difficulty retargets: every block based on last 360 blocks
• Reward starts at approx. 6.66 coins per block
• Block reward is smoothly halved every 4 years
• Total supply: 20 mln coins
• No year 2106 problem

Initial reward was 66.66 coins per block and spacing between blocks was 10 minutes, this was changed after hardfork at block 2202.

Download (version 0.9.15.4, released January 24, 2015)
Windows wallet (32-bit)
Windows wallet (64-bit)
Linux wallet (32-bit)
Linux wallet (64-bit)
Mac OS X wallet

Source code

White Paper
Download

Exchanges
Bittrex
C-CEX
AllCrypt
AlcurEx

You can also help us to add SpreadCoin to other exchanges by voting:
BTER
AskCoin

Blockchain Explorers
https://chainz.cryptoid.info/spr/
Official

Hashrate distribution chart

Faucet
/index.php?faucet=SPR]MultiFaucet

Translations
Chinese
Dutch
French
Hebrew
Hindi
Indonesian
Italian
Portuguese
Romanian
Russian
Spanish
Turkish

Truly Decentralized
In Bitcoin mining power is concentrated in large pools. This puts the whole network at risk in case these pools will become malicious or if their security will be compromised. In SpreadCoin there are no pools, mining power is spread around many solo miners.

Compact Transactions
SpreadCoin uses more compact representation for signatures in transactions. This leads to smaller transactions and, hence, smaller blockchain. See e.g. this transaction in SpreadCoin and similar transaction in Bitcoin, both transactions have 15 inputs and 1 output but SpreadCoin transaction takes 1661 bytes while Bitcoin one takes 2744.
See this thread for more info: https://bitcointalk.org/?topic=6430.0%29%3F

Smooth Reward Decrease
Unlike Bitcoin, there are no abrupt reward halvings in SpreadCoin. Block reward is smoothly decreasing over time.

https://raw.githubusercontent.com/spreadcoin-project/spreadcoin.net/gh-pages/img/reward.png

Mining
You can mine directly from the wallet, just go to the mining tab and press 'Start mining', you will start mine to your wallet. Thread about mining SpreadCoin: https://bitcointalksearch.org/topic/amd-and-nvidia-miners-for-spreadcoin-solo-only-coin-are-now-available-869289

Also you can mine to a specific address (this is useful if you are mining on several computers). To do so:
1. Use existing or better generate a new address.
2. Open debug console (Tools -> Debug Console) and enter: