Topic: [JBS] Jumbucks - No IPO/ICO - Proof of Stake - Slack - DCR Stake Pool - 2+ Years - page 2. (Read 48247 times)

Round 12 DCR stake pool pay out complete

14.82259281 DCR sold for 0.02519914 BTC
210.77928822 JBS bought for 0.02518601 BTC

.. except i kinda messed up and sent out 556.6492266 JBS total instead of 210.77928822 JBS. this will be reflected in later payouts.


The pool is slowly growing and represents 4.401% of all live Decred staking tickets.

So far the pool has paid out over 5546.94667026 DCR in total stake subsidy.

The pool was officially announced and opened on July 18, 2016, 11:18:29 AM.

Sign up today at: http://dcrstakepool.getjumbucks.com

If you require assistance, we are always happy to help in Jumbucks Slack.

Sign up to Jumbucks Slack to be a part of a growing community of over 640 crypto enthusiasts and Jumbucks fans!

Well, not actually true: https://chainz.cryptoid.info/jbs/#!rich
As you can see in block explorer Top 100 addresses have 98.27% of coins.
How can we say that this coin is fairly distributed if only 100 people of 7,000,000,000 control almost 100% ?

Let me know if you need a Canadian translation Dev.   

This coin differs from ETC by having a fair distribution of coins.

This coin differs from ETC by having a fair distribution of coins. There is no developer premine, no funds obtained from exploits and no issues with replay attacks.
Also the improvements to the consensus systems will help with securing the chain and providing confirmations to exchanges. I wouldn't be surprised to see these improvements merged to other ethereum code bases


The coin is a currency for a lasting community from early in the altcoin days, jumbucks gets used quite regularly for tipping and friendly bets in the slack. Their have been several beta apps for the old code base that proved to be limited by the bitcoin code base to warrant further development. So in addition to the contracts developed in solidity being used, there will be several existing apps rewritten and services in place to provide value and use cases.

Why would anyone use this instead of ETC?

What is this coin for? How anyone can use it?

Hi, here is a previous response I wrote to that question here on September 12 https://bitcointalksearch.org/topic/m.16230472

For the near term (at least 1 year) we intend on being Proof of Work.

Re-written now that the new name Ubiq is public:


This question has come up a few times.

Will Ubiq switch to 100% Proof of Stake when Ethereum's Proof of Stake Casper is released?

A switch to PoS isn't definite but we will evaluate and monitor Ethereum's Proof of Stake when it is released and had time to iron out any issues that may arise. A switch to PoS depends on the overall health of the Ubiq network and other factors such as ongoing distribution. It can make sense to just stay on PoW or a hybrid PoW/PoS network.

Another thing to factor in is that when Ethereum switches to PoS there will be excess mining capacity, so that can be another pro for sticking with PoW or a PoW/PoS hybrid.

Interesting project.

 Correct me where Im wrong...
You are changing algo to the forked eth algo
Name change
Equal swap out
Pow only until eth writes the casper code for pos
Basically like exp? Kr? Shift? Soil?

Thanks

Very nice work. I am anticipating this launch.


Will solidity be compatible with this chain for development?

Exponentially Subjective Scoring & Entering the final phases for Launch

So here's something I alluded to in a previous post. I wanted to take a look at eliminating the possibility of a long range re-org attack on the chain as this has been observed in other Ethereum forks.  Ultimately the best security for proof of work is having "sufficient" hash rate such that such an attack reaches the point of "not being feasible." The first idea I had for this was setting a limit on re-org depth, say 1 day. This solution on the surface seemed simple.. a little too simple so I sent Vitalik an email to see if he had any thoughts.

Here is Vitalik's reply:


Exponentially Subjective Scoring is also further mentioned in this article that Vitalik wrote November 2014 - https://blog.ethereum.org/2014/11/25/proof-stake-learned-love-weak-subjectivity/

I'm pleased to say that I have coded this up and it works great. Here are some log lines which demonstrate this. ESS is basically another check which decides whether or not a re-org should take place.


The above lines are additional debug lines which I which are from a live test I did on the Testnet.  It's slightly confusing so here is a re-written version in Go which outlines the function using the exact figures from above.


The output is as follows.


This code change actually took a bit longer as it required a lot of testing and learning how Ethereum handles new blocks being processed and the different scenarios. i.e. had to run through a lot of the following cases:

1 new block comes in
2 new blocks come in
3+ new blocks come in
1 new mined block pushed out the network
2 new mined blocks pushed out to the network
3+ new mined blocks pushed out the network

So most of the work was actually figuring out how block processing works and testing the scenarios and thinking more about "when should this be checked?" and further thinking of other cases where it could go wrong.


So just to re-cap JBSEE will come out with 2 new consensus level changes.  These are:

Exponentially Subjective Scoring - A deterministic scoring system when comparing two chains. The longer the reorg, the higher penalization, and the less likely the new chain will become the main chain. It is more expensive to attack a well publicized good chain.

Rewritten difficulty algorithm based on Digibyte's Digishield V3 - Difficulty algorithm that is battle tested on numerous coins and is far better suited to longer block times and fluctuations in hash rate.

It is also worth noting that no other Ethereum fork has the level of new code and consensus changes that the JBSEE network will have.


Here are the priority items in the next few weeks. It is a tight deadline but we are aiming for a launch of the network before October 11th next month.

Launch of new coin

All the technical details set and we are co-ordinating with exchanges.

PRE-ANN thread

The details are being written up. This will be up shortly.

Swap system

This has been outlined in a previous post and will again be outlined in the PRE-ANN. The sites for a non-exchange swap are being completed.

Code modifications

These are complete for the launch. We are also thinking of paying a Geth dev to code review the new code changes I have made just to have another pair of eyes go through the code.

Logo and branding

The new logo and name has been chosen.