Topic: [ANN][1CR] 1CRedit Coin Relaunch - page 22. (Read 290038 times)
Relaunch? If something failed in a begining, then there is no reason to have another launch. Sorry to say that.
Sorry about that, went to put a proper title and fix a few bolding mistakes, but this forum doesn't allow me to delete my own post apparently.
Sorry about that, went to put a proper title and fix a few bolding mistakes, but this forum doesn't allow me to delete my own post apparently.
Sorry about that, went to put a proper title and fix a few bolding mistakes, but this forum doesn't allow me to delete my own post apparently.
Today, we are announcing some dramatic improvements to the 1CR coin to address some of the impediments to adoption that have occurred in the past few months.
The coin was designed to be very secure, have little adoption by the multipools, and to be used for longer term investment uses (such as banking in the simulated worlds of OneBillionHex. One of the chief complaints to many of the pool operators was the extended time before pool users were able to receive their first payouts. This was due to two security measures of 1CR: 1) 256 required confirmations, and 2) a defensive difficulty retargeting, designed to discourage mulitipool raiding of the coin during low diff periods.
Without pool cooperation, we found that general adoption of the coin was low, and the coin would be mined in a very dramatic roller coaster difficulty fashion, which led many to give up.
After careful lab testing – a new source code has been release, that goes into effect at block 4000 – probably within the next day or so.
The new source code will reduce the confirmations to a still very secure 156. Note that most wallets add 20 to this. As well, the difficulty retargeting has been ‘dampened’ to still discourage multipool raiding but provide a more consistant coin time. We hope these changes will encourage pool owners to re-adopt the 1Credit Coin (1CR). This should start to produce a bit more coins daily, and allow the pool users to receive their coins in a targeted 25 hours, versus 3-4 days the old settings yielded.
The coin is still a very rare coin, and is designed to have minimal forks (several months old and still not a single fork!), and minimal risk of double spend attacks. There was zero premine, there are not secret payouts in the code, no IPO, and the only way the Dev or the team can make money on this is the same way you can, mining the coin. It has held a pretty good value on Poloniex so far, even with the earlier design inconveniences, and we expect it to be a great coin to buy and hold as it gets integrated into the Crypto Ecosystems.
We need some community support, in the form of a few new pool operators, to really make this relaunch a success. PM the Dev and he can introduce you to a few experts if you need a hand.
Mission:
• To create the investment coin for long term security and stability
• To avoid Mulitpool Mining that drives the value down
• To create a stable coin to encourage long term mining (set it and forget it)
Supply:
• To date – there are less than 4000 coins
• Each block generates 1 new 1Credit coin
• No IPO
• Total Supply – The current block number! One coin per block of course!
Current specs:
• Algorithm: Scrypt PoW
• Started: April 19th
• Blocktime: 8.5 Minutes
• Blocks confirm: 156 confirms (most wallets add 20)
• Transaction Confirms: 16
• Retarget: every block (Modified KGW)
• Block rewards: 1
Website and forums:
www.1creditcoin.org
https://cryptocointalk.com/forum/1225-1credit-1cr/
Wallets:
Source https://github.com/1credit/1credit
Windows Wallet
http://www.mediafire.com/download/n851l3345n5yitd/1credit-qt.exe
Mac Wallet
http://www.mediafire.com/download/gci1u4n5l5654ie/1CRedit-Qt.dmg
Ports:
Listen: 6666 (16666 for testnet)
JSON-RPC: 6667 (16667 for testnet)
Sample Configuration file (totally optional!):
/* 1credit.conf */
rpcuser=
rpcpassword=
listen=1
gen=1
Like all high quality coins, 1CRedit maintains an active DNSSEED network. You should NEVER have to specify addnodes. All wallets should simply work upon launching.
Pools: http://mpos.1creditcoin.org - basic site available for the health of the coin
http://mineblocks.no-ip.org:2627/pool/1CR/
Block Explorers: https://prohashing.com/explorer/1CRedit/
Exchanges: https://www.poloniex.com
Social: IRC Freenode: #1credit
Game: 4th coin in 1BillionHex game.
Other information:
IRC is NOT used by the codebase for anything (unlike many coins)
UPnP is disabled for your protection!
Blocksize limited to 16KB for fast propagation. Note this significantly restricts the number of transactions/second supported by 1CRedit, but as an investment coin, designed for fewer, larger, mostly paid transactions, this is not viewed as an issue.
The coin was designed to be very secure, have little adoption by the multipools, and to be used for longer term investment uses (such as banking in the simulated worlds of OneBillionHex. One of the chief complaints to many of the pool operators was the extended time before pool users were able to receive their first payouts. This was due to two security measures of 1CR: 1) 256 required confirmations, and 2) a defensive difficulty retargeting, designed to discourage mulitipool raiding of the coin during low diff periods.
Without pool cooperation, we found that general adoption of the coin was low, and the coin would be mined in a very dramatic roller coaster difficulty fashion, which led many to give up.
After careful lab testing – a new source code has been release, that goes into effect at block 4000 – probably within the next day or so.
The new source code will reduce the confirmations to a still very secure 156. Note that most wallets add 20 to this. As well, the difficulty retargeting has been ‘dampened’ to still discourage multipool raiding but provide a more consistant coin time. We hope these changes will encourage pool owners to re-adopt the 1Credit Coin (1CR). This should start to produce a bit more coins daily, and allow the pool users to receive their coins in a targeted 25 hours, versus 3-4 days the old settings yielded.
The coin is still a very rare coin, and is designed to have minimal forks (several months old and still not a single fork!), and minimal risk of double spend attacks. There was zero premine, there are not secret payouts in the code, no IPO, and the only way the Dev or the team can make money on this is the same way you can, mining the coin. It has held a pretty good value on Poloniex so far, even with the earlier design inconveniences, and we expect it to be a great coin to buy and hold as it gets integrated into the Crypto Ecosystems.
We need some community support, in the form of a few new pool operators, to really make this relaunch a success. PM the Dev and he can introduce you to a few experts if you need a hand.
Mission:
• To create the investment coin for long term security and stability
• To avoid Mulitpool Mining that drives the value down
• To create a stable coin to encourage long term mining (set it and forget it)
Supply:
• To date – there are less than 4000 coins
• Each block generates 1 new 1Credit coin
• No IPO
• Total Supply – The current block number! One coin per block of course!
Current specs:
• Algorithm: Scrypt PoW
• Started: April 19th
• Blocktime: 8.5 Minutes
• Blocks confirm: 156 confirms (most wallets add 20)
• Transaction Confirms: 16
• Retarget: every block (Modified KGW)
• Block rewards: 1
Website and forums:
www.1creditcoin.org
https://cryptocointalk.com/forum/1225-1credit-1cr/
Wallets:
Source https://github.com/1credit/1credit
Windows Wallet
http://www.mediafire.com/download/n851l3345n5yitd/1credit-qt.exe
Mac Wallet
http://www.mediafire.com/download/gci1u4n5l5654ie/1CRedit-Qt.dmg
Ports:
Listen: 6666 (16666 for testnet)
JSON-RPC: 6667 (16667 for testnet)
Sample Configuration file (totally optional!):
/* 1credit.conf */
rpcuser=
rpcpassword=
listen=1
gen=1
Like all high quality coins, 1CRedit maintains an active DNSSEED network. You should NEVER have to specify addnodes. All wallets should simply work upon launching.
Pools: http://mpos.1creditcoin.org - basic site available for the health of the coin
http://mineblocks.no-ip.org:2627/pool/1CR/
Block Explorers: https://prohashing.com/explorer/1CRedit/
Exchanges: https://www.poloniex.com
Social: IRC Freenode: #1credit
Game: 4th coin in 1BillionHex game.
Other information:
IRC is NOT used by the codebase for anything (unlike many coins)
UPnP is disabled for your protection!
Blocksize limited to 16KB for fast propagation. Note this significantly restricts the number of transactions/second supported by 1CRedit, but as an investment coin, designed for fewer, larger, mostly paid transactions, this is not viewed as an issue.
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