Topic: [ANN][SIM] Simcoin - A Simple Coin - page 63. (Read 157763 times)

Long posts without pictures are boring, so I think this is an appropriate one:



Ok, today is the last 100% safe day when the IPO won't be closed, so I thought I'd post a progress update for the last 12 days since the announcement.

You saw the address generator and lookup tool that I've posted here. Did some tests and settled on how account ID's will be generated.

The 3 main cryptoprimitives, which should be enough to build the system, were ready before the announcement. I found a bug in my Blake2s implementation when I did the address generator, so I wrote a unit test for it to compare to the reference implementation, and plan to do the same for Salsa and Ed25519, as well as other code.

Did some experiments with key stretching algorithms.

Converted Reed-Solomon addresses from NXT to the new format. Updated test addresses generator. Did extensive testing with 1 million corrupted test addresses.

Wrote a wrapper classes for SQLite, which will be used as our main database. The database interface code is now 90% done.

Did a lot of timing tests, both for crypto and database performance to assist me in making design decisions. Figured out protection from data corruption for the database. Wrote the code to do ledger verification on loading. Created a test ledger with 100,000 test accounts (about 10 Mb at this point). Verification takes less than 1 second, but that's without transaction history.

You've seen wiki, that took some time. I also keep documenting things in my local copy to be published later.

Console server skeleton is mostly finished, ini and log files, graceful shutdown, that kind of stuff. Ready to be filled with meat.

A lot of thinking went into trying to figure out the best encryption scheme for packets and at the same time protect from application-level DDoS attacks. I think I finally settled on how it will work.

Implemented transparent encryption/decryption in network code. Tested UDP connection between my home PC and the simcoin.info server – it worked perfectly. Also made sure that VPN indeed hides IP's for our UDP packets.

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"Boehm and Basili (2001) say that it is 100 times more expensive to fix errors in production than during the earliest development phases."
 -- Robert L. Glass, Facts and Fallacies of Software Engineering.

So the rest of the time was eaten by lots of reading and thinking about overall system design

I have just joined the team. Am very curios how this experiment will go.

Too late: 103 with 63 BTC.

Guess, we have to wait for the next round number. What is it, a thousand?



Of course not.

When the IPO is closed for new investors. Can the investors that already have invested, invest some more BTC? Thanks.

+1.....
 
100 investors sounds soooooooooo good.

You need to be logged in.

NxtChg, I suggest you stop the ipo at 100 investors. We are at 98 right now and tomorrow is April 20. You will have kept your word and 100

investors sounds soooooooooo good.

I'm interested to know why you have removed the total btc investment figure from your IPO webpage?

I invested in simcoin because you understand where crypto is so therefore hopefully know where it is going.

We should totally start a branding consulting firm to help people choose better names.

By the way, I won't be surprised if tomorrow somebody announces Peecoin in here.

Heck, they're probably already busy registering domains for it! It's a race to the bottom when it comes to crazy coin names.

Actually I forgot that PAY would be the symbol. I like it. You see PAY on an exchange or in a store and its like an order. "PAY!" people
will be like "okay okay I'll PAY now sheesh"

Hmmm. In your effort to discredit Paycoin you discovered Peecoin. An inadvertently superior name. All the kids will beg mom to pay with peecoin.
And Peecoin will be in the mainstream news before bitcoin and nxt. In the future when I buy eggs for 2.99 the cashier will say "that will be 2.99
or 2 Peecoins and 99 Dogecoins please".

Clever.

You should patent it and sell to Ripple, would be perfect for their idea to be a currency bazaar

I will try one last time

Yescoin, ¥€$coin. Plain and simple.

3-letter code will be "PAY"? Confusing?

One thing I do is try to pronounce the word really quickly several times in a row and see how it holds up.

Simcoin is Ok, Paycoin becomes Peecoin

Thought about it. One thing BCNext did right was placing intentional flaws in the code and setting a reward to find them. That's a smart move to make people thoroughly review your code. Should probably do the same.



Yeah, this is a problem with cryptocoins. That's why I hesitate to publish too much info on the wiki.

Since I do quality work, it takes a lot longer, so by the time I get to release, Simcoin's features might be implemented in some other coins and won't look so new and exciting. As investors, you probably don't want that.

SS coin, total amount: 6 million.

Like you said when said aloud it will be confused with peso but I like it. But what about just "Paycoin". Sounds silly and simple at first but the more
I think about it what is simpler than a coin that is just meant to pay? That is what simcoin wants to be. Paycoin just pays with one second
confirmation and irreversibly secure hopefully. Is paycoin already taken? Who can keep track of all the alts.

NxtChg please give us a long head start in regards to open source. Nxt had a head start but still we already have NAS muddling up the Nxt name.

Wouldn't it be too confusing?

- Have you heard about a new currency - paysos?"
- New? They had it in Mexico for hundreds of years!

Also, it's probably not a good idea to associate "Internet money" with any particular country.

Yeah delay for a few months is the best plan then sprinkle in some traps for good measure.

You'll have to forgive me, but i'm just drinking my first cup of coffee, so I do not have all my faculties yet, so here goes.

Perhaps "Payso" coin, a play on the spanish word Peso.

Pay so simple
Pay so quick
Pay some one

Ok, back to my coffee.

Well, that's how open-source works. I'll try to delay releasing the source code to give us a head start.

Besides, nobody would take a cryptocurrency seriously unless it's open-sourced. I know I wouldn't