Topic: [ANN][FLT] Fluttercoin Ƹ̵̡Ӝ̵̨̄Ʒ | Proof of Transaction 3.0 | Update v0.7.5.22 - page 13. (Read 151664 times)

a little update, THIS DOES NOT AFFECT MAIN WALLETS at this time
testnet will be checked on 12/17 to do a test softfork, and then 12/20 for hardfork, I am testing syncs on both current main, and testnets to make sure it syncs and everything lines up with existing chain.  If all goes well during the testing, we will test a few clients doing a switch from current reward to reward reduction.  After testing is successful, we will decide on firm soft/hard fork dates so we can notify everyone.  Anyone have a preference on timeframe?  Thinking 2weeks for soft switch, then another 2weeks before hard switch.

--o

We will test the changes on testnet first.  A dev branch will be opened up in nearterm so we can use it for testing things like this.  Properly testing these changes is very important as many of the changes will require complicated code updates.  If there are additional devs that want to contribute to the project please join us on discord where we are discussing features.

Once this is successful, we will schedule the changes, first a soft fork to run the new client by a certain date and then it only talks to the other new clients, and then the reduction starting at block x.  Similar to what we did when we need to update the code to prune off the outdated clients.  I'm thinking first part of Q1, maybe earliest mid january if everything lines up properly.

--o

Great news! I see already moving in exchange.
when does the new changes take effect? I guess first you should update wallet?

Almost decided stake reduction to 5%.  Maturity will stay the same initially.  Running the numbers 5% on a 25k block 1 day maturity is 3.xx and butterfly is .17, I don't like.  Same number over 30 where we are now is 104 and 3 respectively.  I do want faster stake provisions but if we lower to 1 day maturity then flat block reward of 20 would be my choice.  With this pot shares 1flt.  Note I spent long hours developing the PoS transaction sharing piece including rewrites of the transaction code to do randomized sharing on PoS, I iike it because you get random rewards.

This is a huge change for fluttercoin, almost a shock, but continuous sell pressure effects new investors coming in who look at inflation and other items to gauge future earnings.

FYI effective immediately staking wallets will be referred as "Butterfly nodes" to better reflect the coins purpose and that is proof of transaction..

I know many of us continued in this project because we believed in something greater than just the money.

a few things to newcomers...we are a zero premine coin, we are 100% community developed and supported.  Originally designed by thekidcoin, community took over after he left the project earlier on.  Personally I took a leave from most crypto for two years.  Fluttercoin needs some maintenance, it has been running well but it's time to get the engine tuned a little better.

More info from behind the scenes happening in discord chat.  I have requested help from a graphic designer about a new logo or reworking the current one (I like) and new theme graphics that we can use.

Wallet is themeable, colors backgrounds, etc.  it really is a pretty wallet if you download the theme packs.  Lot of thought has gone into it.

Use Fluttershare to send flt to friends automatically via your stake rewards.

Flutterspeed is also going to be reworked, not sure if it is back up and running fully, this allows for quickly bootstrapping the blockchain.  It's already in our client, the backend needs to be brought up.

Market has been very good to fluttercoin.  A few years ago we were trading at 6 or 7 sats, today we are at 10 sats which considering the meteoric well deserved rise of bitcoin we have grown with it.

Please join us in discord, if you can help, or just to hang out.
--o

As an early investor, I am very happy to see that Fluttercoin project is still alive. The promotion in recent years has gained some market recognition. Next year's roadmap is also being planned and implemented step by step.

Good news, the prices are cheap now

2018 roadmap is being worked on a few things to think about.

We are approaching 410million Fluttercoin.  I don't want this to exceed 500million Fluttercoin overall so steps need to be taken to reduce the inflation rate.

To identify issues with this the following is currently happening:

Proof of Work is 1FLT now after halving, Proof of Transaction is now 5%of this or .05FLT.  This is pretty useless reward, I'm not sure why there's hashrate toward it.

Proof of Stake fluctuates between 100% - 5%.  Many times this is at 100% which explains the inflation issues.  When the coin was created it was supposed to be 5% (notes say at least 5% which it is I guess).  PoT pays 5% now on the PoS block as well which will have a random reward depending on the stake reward.

Couple of things i am thinking of...
  Leave PoW at 1FLT for now, but phase out PoW, it could be used as a vulnerability if someone wanted to throw a large amount of hashrate at it.

  Reduce Proof of Stake top end reward with the following options
    option 1 - top end halve with the blocks, so 100%, 50%, 25%, 10%, 5%  (at the 5% level and 410million that's another 20million coins yearly.  However, there's possibly not all coins are staking.
    option 2 - set a flat reward of 20FLT, PoT would then be 1FLT when it hits.  With about 1000blocks on average, should be about 720ish, that's 7million per year or 1.7% inflation.

Also we are considering lowering the stake minimum age, right now this is 30days.  Reducing this to 12hours or 24 hours with weight adjustment.  Then we would increase blocks staking on the network, which would help for times when the diff is high and blocks do not get found often.  More blocks, more steady staking.

--o

no masternodes at this time, we are a hybrid coin, PoW (work), PoS (stake), and PoT (reward potential for transacting)

I do like the masternode idea, but would require a complete coin code change or to bring in masternode functionality.  We are discussing these options in discord now on which directions to go.  PoT is unique to fluttercoin, it's the only coin to do so using PoW and PoS.

Here is the whitepaper for this technology...
http://fluttercoin.me/specifications/

has this project masternodes?

looks like there is, but I would recommend to join Discord channel to find out for sure.

seed node has been updated, should allow sync without any addnodes!

--o

A few updates, discussions happening over in discord...
    Discord channel is up - https://discord.gg/YkCEYER

Testnet Up
We have activated testnet and put some clients on it.  This will allow us to test changes without impacting the main chain which is running stable as it always has.

Explorer - http://flt.presstab.pw/

Regards,
--ofeefee  (fyi my personal account is locked for some reason, will update as I can)

Is there any developer protection for this project? Basically already dead?

Flutercoin  has a fully functional wallet(check OP or browse post history) from which can be sent anytime, anywhere.

So if you would buy some tokens right now, do they stay on that website or can we download a wallet somewhere and send it there immediately?

Hello FLUTTER team,

I'm happy to announce that your coin has been listed to ItalYiiMP 2.0 for mining,

to get paid in FLT just set c=FLT as password in your configuration.

As an additional service, the explorer is available at the address http://italyiimp.com/explorer

visit http://italyiimp.com.

best regards.

Ragarg.

Yes. Looks very inviting too hah.

Just checked their website again and it's working now so if you still wish to learn more about the coin you can check it out now http://www.fluttercoin.me

Thanks. Hopefully they will fix soon. I am very interested in learning more about this coin. I usually like to see the white paper on the official websites.

Yea their website (http://www.fluttercoin.me) is not working for me as well always keeps giving me some sort of connection error.