Groestlcoin first to activate segwit on mainnet

jackielove4u

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Quote from: ashapasa on March 25, 2017, 06:10:23 PM

Not bad for a small coin

but are there any other plans on the horizon that we can look forward to from this coin. I bought a little

just might be worth the punt.

http://groestlcoin.org/forum/index.php?topic=482.0

ashapasa

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Not bad for a small coin

but are there any other plans on the horizon that we can look forward to from this coin. I bought a little

just might be worth the punt.

jwinterm

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Quote from: ashapasa on March 25, 2017, 04:39:38 PM

What difference does segwit make for groestlcoin? How does it improve performance? Market cap is tiny for this coin, is this the reason it could be easily implemented?

https://bitcoinmagazine.com/articles/bitcoin-politics-seep-altcoins-segwit-adoption-slow-across-board/

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Launched in 2014, Groestlcoin has a total market cap of some $365,000, earning it the 163th spot on CoinMarketCap at time of publication. This makes it the smallest of the five altcoins aiming for SegWit but also the first to have actually succeeded in activating it. The required 95 percent of hash power signaled support back in January, and the protocol upgrade has been live since.

“Jackie,” who prefers not to reveal his full name, is the project lead for Groestlcoin.

“All the FUD [Fear, Uncertainty and Doubt] is false,” he told Bitcoin Magazine. “SegWit as a soft fork is about as safe as the CSV soft fork was — and you don’t hear anyone complain about that.”

As a digital currency that isn’t used much yet, Groestlcoin never faced scaling issues like Bitcoin. But Jackie said he considers SegWit a malleability fix first and foremost, which in turn enables features like the lightning network, atomic cross-chain transactions and other innovations.

“Less useful and elegant versions of lightning [network], TumbleBit and Mimblewimble were possible with the old version of Groestlcoin, but they are greatly enhanced now Segregated Witness is activated on the Groestlcoin network,” Jackie noted.

ashapasa

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What difference does segwit make for groestlcoin? How does it improve performance? Market cap is tiny for this coin, is this the reason it could be easily implemented?

kolap

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In Crypto We Trust

segwit it is

jwinterm

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Quote from: JackH on March 14, 2017, 01:16:56 PM

Is this coin a 1:1 copy of Bitcoin, or did you change other parameters as well?

It has a different emission curve - faster and smoothly varying, no halvings. It also uses groestl algo for PoW, not sha256, this the name.

JackH

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Is this coin a 1:1 copy of Bitcoin, or did you change other parameters as well?

jwinterm

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Point of clarification - Groestlcoin activated with 95% threshold, not 75%.

jwinterm

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Here's the quote from late November:

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“Since our system cannot build C++11, I would like put this on hold for a while, until we can get our new servers online up and running,” Chun said. “Next spring, maybe.”

And link: https://bitcoinmagazine.com/articles/where-bitcoin-mining-pools-stand-on-segregated-witness-1480086424/

Honestly, I think it's just their way of being passive aggressive, but if you take them at their word then Litecoin could activate segwit next spring...maybe Cheesy

shyliar

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Quote from: jwinterm on January 25, 2017, 03:46:45 PM

Quote from: shyliar on January 25, 2017, 03:02:00 PM

Unlikely that Litecoin will need to "ram" it through. The client shows the version of connected peers and every connection to my wallet shows the latest update.

While that might be true, it's not really relevant to activation, which afaik requires 75% of blocks in a retarget period starting after the 28th be mined in support of segwit. Considering that f2pool controls nearly 50% of the network ( https://www.litecoinpool.org/pools ) and the same f2pool has so far not supported segwit for Bitcoin allegedly due to them not being able to compile c++11 they could easily block it themselves. There's also a handful of pools that control almost the entire other half of the network, so they could muster 25% between two or three of them.

By "ram it through" I just meant that Litecoin chose to go with 75% threshold like groestl as opposed to the unanimous consensus 95% threshold of Bitcoin. I said that I think it's likely it will go through in a month or so, but you have to have some skepticism considering f2pool controls half the network and how they've been acting re: segwit for Bitcoin.

Well like all things crypto only time will tell. f2pool has expressed interest in supporting litecoin in this upgrade. I was unaware of them claiming a problem with compiling c++11. I'll have to read up on that.

jwinterm

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Quote from: shyliar on January 25, 2017, 03:02:00 PM

Unlikely that Litecoin will need to "ram" it through. The client shows the version of connected peers and every connection to my wallet shows the latest update.

While that might be true, it's not really relevant to activation, which afaik requires 75% of blocks in a retarget period starting after the 28th be mined in support of segwit. Considering that f2pool controls nearly 50% of the network ( https://www.litecoinpool.org/pools ) and the same f2pool has so far not supported segwit for Bitcoin allegedly due to them not being able to compile c++11 they could easily block it themselves. There's also a handful of pools that control almost the entire other half of the network, so they could muster 25% between two or three of them.

By "ram it through" I just meant that Litecoin chose to go with 75% threshold like groestl as opposed to the unanimous consensus 95% threshold of Bitcoin. I said that I think it's likely it will go through in a month or so, but you have to have some skepticism considering f2pool controls half the network and how they've been acting re: segwit for Bitcoin.

shyliar

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Unlikely that Litecoin will need to "ram" it through. The client shows the version of connected peers and every connection to my wallet shows the latest update.

NeuroticFish

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Looking for campaign manager? Contact icopress!

I see SegWit is the new trend.
Which is somewhat funny, but also good: whoever really wants, can see SegWit in action.
Especially since it may take quite a while until this will be active for Bitcoin too.

Wosterlee

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Interesting...

Viacoin is also adopting SegWit.

https://bitcointalk.org/index.php?topic=699278.6080

Buy it now before the pump! Cheesy

jwinterm

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This kind of went under the radar, understandably so since groestlcoin is a pretty small crypto, but sometime on the 21st or 22nd the fork activated:
https://bitcointalksearch.org/topic/m.17607303

It seems like Litecoin will probably activate in the next month or so, but that is dependent on whether most miners signal they want to activate, which may be much trickier than convincing all grs miners (though clearly significantly less tricky than convincing most BTC miners). If Litecoin can't ram it through, then it's possible groestlcoin coin could be the only segwit coin for the foreseeable future, though I have also heard some rumblings about Vertcoin trying to activate in the not too distant future as well.

Topic: Groestlcoin first to activate segwit on mainnet (Read 1805 times)