Topic: [ANN][DRIP][POS][MN] Now offering masternode monitoring and hosting services - page 6. (Read 5925 times)

zDRIP activation is complete

As with every other milestone in DRIP's life to-date, it has gone without a hitch.

A Brief Guide to Zerocoin and zDRIP

Within the DRIP ecosystem, there are two versions of the coin:

DRIP - the standard version of the coin
zDRIP - the private version of the coin

Both versions of the coin are of equal value and should be considered as one and the same. When you send zDRIP, it arrives at its destination in the form of DRIP (but is untraceable back to you). As such, you can even send your zDRIP to your DRIP exchange account.

zDRIP Terminology

Mint - To convert DRIP to zDRIP
Spend - To send zDRIP to a DRIP recipient
Denomations - The different sizes of zDRIP - 1, 5, 10, 50, 100, 500, 1000, 5000 (think of them like casino chips)
Accumulator - Each denomination has it's own accumulator where coins of that denomination are accumulated for mixing and spending (think of them like the slots in a casino chip rack)


Usage of zDRIP


Step 1: The Mint

The first step required if you want to spend DRIP privately is the mint. It should be noted that your DRIP needs to have 6 confirmations before it can be minted to zDRIP. There is a small fee for minting - 0.01 DRIP per minted zDRIP denomination.

In technical terms, the mint can be considered as the burning of your DRIP and, in return, the DRIP network makes a note that it owes you the equivalent number of zDRIP. Your own zDRIP is stored within your wallet, completely off the blockchain, and you can also see the network wide count of each denomination within the 'Privacy' tab of your wallet.

Step 2: The Wait

There is an enforced wait between the time of mint and the time you are able to spend the minted zDRIP. It is during this waiting period that the zDRIP mixing occurs. This adds to the privacy but does mean that you need to be holding zDRIP already if you want to spend it now without waiting.

This wait is generally 20 confirmations (minutes) or 1 mint added to the accumulator after yours is added - whichever is longest. This is part of the reason for the default 10% automint within the DRIP wallet - when most people are on the default, you'll generally find that the 1 mint to each accumulator come long before the 20 standard confirmations.


Step 3: The Spend

As some point in the future, you will want to spend your zDRIP. The spending of zDRIP is done from the 'Privacy' tab of your wallet and zDRIP can be sent to any normal DRIP address. When you spend zDRIP, there will be newly generated DRIP with no history or connection to you created by the masternode and sent to the recipient. Of course, this does not impacted circulating supply because the newly generated DRIP simply replaces DRIP burned by you during the minting process. There is no fee for spending zDRIP.

When you spend an uneven amount (a fractional spend), the required zDRIP to cover that spend will leave your wallet and you will receive change back (as default, this will be in the form of DRIP). For example, if you spend 4.6 DRIP and have some 5 denomination zDRIP 'chips', one of these will be spent and you'll receive 0.4 DRIP change.

The maximum spend for a zDRIP transaction is 35,000 zDRIP and a maximum of 7 denominations can be used in a single transaction. Neither of these limitations should pose any problems but we will monitor and, if necessary, increase.

Fasten your seatbelts, there's less than 24 hours remaining until zDRIP activation 

No problem. Let us know if you have any further questions or concerns.

One day left for zDRIP activation 

quick update - looks like this did the trick. thanks drip!

On Discord Channel you'll find some guides. You'll find some good infos here: https://www.dripcoin.tech/masternode-setup/

how to setup the mastenode

Thanks drip, maverick93. I'll try the wallet repair option first and then jump into the discord if I see the problem continue.

You should try the following in your wallet:

[Tools > Wallet Repair > Recover Transactions 1]

Try to join in DRIP Discord channel, anyone will help you to solve this issue..

I've been staking but have been getting a ton of orphaned blocks recently. Today alone I have 10 stake transactions, but 9 of them are orphaned. I'm on the 1.0.2.1 version of the wallet... is there anything I should be troubleshooting?

Don't forget to enter our Twitter competition before tonights game:

https://twitter.com/DRIP_crypto/status/1016736711768969217

DRIP is now listed on LiveCoinWatch.

We are also having a closer look at potential marketing campaigns - the original thoughts were that word-of-mouth would be sufficient until we reach a point where we can market DRIP as a method of payment but it looks like we'll need to market to new investors in the near-term as we need a much wider distribution of coins before retailers would consider us as a form of payment. Several approaches have been made and there will be more to come on this.

https://www.livecoinwatch.com/price/DRIP-DRIP

Enter Game 4 of the DRIP world cup competition on Twitter or Discord. Details can be found at the link below:

https://twitter.com/DRIP_crypto/status/1016736711768969217

As we approach the activation of zDRIP and the zerocoin protocol within the DRIP environment, we must start to educate DRIP coinholders as to what this entails. One of the main things that would cause confusion if we simply activated zerocoin right now is that all wallets connected to the network would begin the automatic conversion of 10% of everyones DRIP coins into zDRIP (unless they've already changed the default settings).

The first in a series of additions to our website to provide you all with information on zDRIP is now available at the link below. Further guides will be provided with respect to the process to manually mint zDRIP as well as the fees involved in the minting process which, whilst extremely small, are present.

https://www.dripcoin.tech/zdrip-staking-and-automint/

Hi drag0s. We see that you already had all the required assistance with setting up your masternode on our Discord channel. If you've further questions, please let us know.

Thanks ndurenin. If you've any questions, technical or otherwise, just let us know 

Amazing trading fees!
A rather interesting plan, responsive project.  Good luck!

Have you created a new address? Try to rename its tag in MN1 for example. After that, send 10000 DRIP to this address (MN1 tagged), you'll be fine. You will see avery time 10015 DRIPs because your coins still will be on your wallet. It's normal!