New Cryptographic Currency - page 2.

loremipsum

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Quote from: fl0wd3v on May 31, 2017, 07:22:24 AM

Quote from: loremipsum on May 31, 2017, 07:03:29 AM

Quote from: fl0wd3v on May 31, 2017, 06:29:39 AM

Quote from: loremipsum on May 31, 2017, 06:09:20 AM

I read that Dynamic coin has supply elasticity, meaning that the block reward changes on the fly every 15 seconds based on market price of the coin. So
- If coin price goes down, the block reward decreases to reduce supply and increase demand
- If coin price goes up, the block reward increases to increase supply and reduce demand

Are you going to keep this structure? It looks good I think, it ll have a stabilizing effect on price volatility

That isn't how Dynamic works. Duality uses collateral of both coins I believe. There is nothing in the code that does that.

Also, to do that, it would require two coins.

Yep you are right, my mistake

Quote from: fl0wd3v on May 31, 2017, 06:38:19 AM

To be honest, I have completed the codework on the new coin. The name/release is coming. It will ensure return on investment throughout the lifecycle of coin production. A complete roadmap is being drawn up, bounties/rewards for additions to the codebase and marketing/promotion of the coin is being arranged. There is no horrendous premine, the rewards are fair. It will be CPU mineable to begin with, using Argon2d with Wolf0's AVX2 improvements to ensure that we are getting the best performance from the mining algorithm and the retarget algorithm will be DELTA from Guldencoin. Styling, logo work etc. is complete. It will launch with all binaries that are possible to be built, however, due to the Argon2d algorithm, Rasp-Pi support is lacking atm. iOS wallets are on the roadmap as well as ledger wallets, trezor wallets, electrum wallets and more.

Ok, that's great! Have you decided on a name?

Also, is there currently a miner for Argon2D? I couldn't find it

Yeah name is sorted, logo is sorted. Miner is internal in the wallet as there is no external miner for Argon2d.

I am testing on an i7 4***HQ laptop CPU and its hitting 21khash with the AVX2 optimisations enabled.

This gives room for development of an external CPU miner, then progression towards GPU miners etc. hopefully nice and steady.

Okay if you need any help testing let me know. Im running Windows and can test it on an i7 at work.

In June we ll probably have an AMD Ryzen as well.

fl0wd3v

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Activity: 28

Merit: 0

Quote from: loremipsum on May 31, 2017, 07:03:29 AM

Quote from: fl0wd3v on May 31, 2017, 06:29:39 AM

Quote from: loremipsum on May 31, 2017, 06:09:20 AM

I read that Dynamic coin has supply elasticity, meaning that the block reward changes on the fly every 15 seconds based on market price of the coin. So
- If coin price goes down, the block reward decreases to reduce supply and increase demand
- If coin price goes up, the block reward increases to increase supply and reduce demand

Are you going to keep this structure? It looks good I think, it ll have a stabilizing effect on price volatility

That isn't how Dynamic works. Duality uses collateral of both coins I believe. There is nothing in the code that does that.

Also, to do that, it would require two coins.

Yep you are right, my mistake

Quote from: fl0wd3v on May 31, 2017, 06:38:19 AM

To be honest, I have completed the codework on the new coin. The name/release is coming. It will ensure return on investment throughout the lifecycle of coin production. A complete roadmap is being drawn up, bounties/rewards for additions to the codebase and marketing/promotion of the coin is being arranged. There is no horrendous premine, the rewards are fair. It will be CPU mineable to begin with, using Argon2d with Wolf0's AVX2 improvements to ensure that we are getting the best performance from the mining algorithm and the retarget algorithm will be DELTA from Guldencoin. Styling, logo work etc. is complete. It will launch with all binaries that are possible to be built, however, due to the Argon2d algorithm, Rasp-Pi support is lacking atm. iOS wallets are on the roadmap as well as ledger wallets, trezor wallets, electrum wallets and more.

Ok, that's great! Have you decided on a name?

Also, is there currently a miner for Argon2D? I couldn't find it

Yeah name is sorted, logo is sorted. Miner is internal in the wallet as there is no external miner for Argon2d.

I am testing on an i7 4***HQ laptop CPU and its hitting 21khash with the AVX2 optimisations enabled.

This gives room for development of an external CPU miner, then progression towards GPU miners etc. hopefully nice and steady.

loremipsum

hero member

Activity: 644

Merit: 501

Quote from: fl0wd3v on May 31, 2017, 06:29:39 AM

Quote from: loremipsum on May 31, 2017, 06:09:20 AM

I read that Dynamic coin has supply elasticity, meaning that the block reward changes on the fly every 15 seconds based on market price of the coin. So
- If coin price goes down, the block reward decreases to reduce supply and increase demand
- If coin price goes up, the block reward increases to increase supply and reduce demand

Are you going to keep this structure? It looks good I think, it ll have a stabilizing effect on price volatility

That isn't how Dynamic works. Duality uses collateral of both coins I believe. There is nothing in the code that does that.

Also, to do that, it would require two coins.

Yep you are right, my mistake

Quote from: fl0wd3v on May 31, 2017, 06:38:19 AM

To be honest, I have completed the codework on the new coin. The name/release is coming. It will ensure return on investment throughout the lifecycle of coin production. A complete roadmap is being drawn up, bounties/rewards for additions to the codebase and marketing/promotion of the coin is being arranged. There is no horrendous premine, the rewards are fair. It will be CPU mineable to begin with, using Argon2d with Wolf0's AVX2 improvements to ensure that we are getting the best performance from the mining algorithm and the retarget algorithm will be DELTA from Guldencoin. Styling, logo work etc. is complete. It will launch with all binaries that are possible to be built, however, due to the Argon2d algorithm, Rasp-Pi support is lacking atm. iOS wallets are on the roadmap as well as ledger wallets, trezor wallets, electrum wallets and more.

Ok, that's great! Have you decided on a name?

Also, is there currently a miner for Argon2D? I couldn't find it

fl0wd3v

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Activity: 28

Merit: 0

Quote from: richardfisk on May 31, 2017, 06:41:52 AM

Quote from: loremipsum on May 31, 2017, 04:35:03 AM

Quote from: fl0wd3v on May 31, 2017, 03:28:56 AM

One thing I do want to do is remove governance/DAO from the code. I feel that it can be manipulated by a big whale potentially buying a lot of Masternodes, creating a proposal and then voting on it and winning every budget block whilst they have majority Masternodes.

For this reason, I think it best that its removed, or, at least the budget block is made 0 for the time being and restrictions made in the code to render it useless.

I don't like the DAO thing either; you could just inactivate it.

Do you have any thoughts about enhancing anonymity, apart from PrivateSend? For example, zk-SNARKS which Zcash uses are one of the latest cryptographic tools and probably one of the best so far (even better than ringCT that Monero uses).

the DAO is very good. Ethereum and ethereum classic are the best

Tell that to the people that got hit by the fork. Until I am happy that there is no venerability, the DAO is out of this coin for now. The governance code, I have left in, but I have made it unfeasible for someone to create a proposal and even if they did and somehow managed to win the budget block, it would be 0.

EDIT: Once the Masternode count is high and distributed enough and overall user count is well above 3-4000 people, then the DAO can be enabled.

richardfisk

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Activity: 208

Merit: 100

Quote from: loremipsum on May 31, 2017, 04:35:03 AM

Quote from: fl0wd3v on May 31, 2017, 03:28:56 AM

One thing I do want to do is remove governance/DAO from the code. I feel that it can be manipulated by a big whale potentially buying a lot of Masternodes, creating a proposal and then voting on it and winning every budget block whilst they have majority Masternodes.

For this reason, I think it best that its removed, or, at least the budget block is made 0 for the time being and restrictions made in the code to render it useless.

I don't like the DAO thing either; you could just inactivate it.

Do you have any thoughts about enhancing anonymity, apart from PrivateSend? For example, zk-SNARKS which Zcash uses are one of the latest cryptographic tools and probably one of the best so far (even better than ringCT that Monero uses).

the DAO is very good. Ethereum and ethereum classic are the best

fl0wd3v

newbie

Activity: 28

Merit: 0

To be honest, I have completed the codework on the new coin. The name/release is coming. It will ensure return on investment throughout the lifecycle of coin production. A complete roadmap is being drawn up, bounties/rewards for additions to the codebase and marketing/promotion of the coin is being arranged. There is no horrendous premine, the rewards are fair. It will be CPU mineable to begin with, using Argon2d with Wolf0's AVX2 improvements to ensure that we are getting the best performance from the mining algorithm and the retarget algorithm will be DELTA from Guldencoin. Styling, logo work etc. is complete. It will launch with all binaries that are possible to be built, however, due to the Argon2d algorithm, Rasp-Pi support is lacking atm. iOS wallets are on the roadmap as well as ledger wallets, trezor wallets, electrum wallets and more.

fl0wd3v

newbie

Activity: 28

Merit: 0

Quote from: loremipsum on May 31, 2017, 06:09:20 AM

I read that Dynamic coin has supply elasticity, meaning that the block reward changes on the fly every 15 seconds based on market price of the coin. So
- If coin price goes down, the block reward decreases to reduce supply and increase demand
- If coin price goes up, the block reward increases to increase supply and reduce demand

Are you going to keep this structure? It looks good I think, it ll have a stabilizing effect on price volatility

That isn't how Dynamic works. Duality uses collateral of both coins I believe. There is nothing in the code that does that.

Also, to do that, it would require two coins.

loremipsum

hero member

Activity: 644

Merit: 501

I read that Dynamic coin has supply elasticity, meaning that the block reward changes on the fly every 15 seconds based on market price of the coin. So
- If coin price goes down, the block reward decreases to reduce supply and increase demand
- If coin price goes up, the block reward increases to increase supply and reduce demand

Are you going to keep this structure? It looks good I think, it ll have a stabilizing effect on price volatility

fl0wd3v

newbie

Activity: 28

Merit: 0

Quote from: loremipsum on May 31, 2017, 04:35:03 AM

Quote from: fl0wd3v on May 31, 2017, 03:28:56 AM

One thing I do want to do is remove governance/DAO from the code. I feel that it can be manipulated by a big whale potentially buying a lot of Masternodes, creating a proposal and then voting on it and winning every budget block whilst they have majority Masternodes.

For this reason, I think it best that its removed, or, at least the budget block is made 0 for the time being and restrictions made in the code to render it useless.

I don't like the DAO thing either; you could just inactivate it.

Do you have any thoughts about enhancing anonymity, apart from PrivateSend? For example, zk-SNARKS which Zcash uses are one of the latest cryptographic tools and probably one of the best so far (even better than ringCT that Monero uses).

I will simply set proposal fee to 96000000 which is 1000000 over the amount of coin that can be produced, thus making it impossible to set a proposal. I will also set the budget block to be 0. Also Masternodes will work without the need for Sentinel.

loremipsum

hero member

Activity: 644

Merit: 501

Quote from: fl0wd3v on May 31, 2017, 03:28:56 AM

One thing I do want to do is remove governance/DAO from the code. I feel that it can be manipulated by a big whale potentially buying a lot of Masternodes, creating a proposal and then voting on it and winning every budget block whilst they have majority Masternodes.

For this reason, I think it best that its removed, or, at least the budget block is made 0 for the time being and restrictions made in the code to render it useless.

I don't like the DAO thing either; you could just inactivate it.

Do you have any thoughts about enhancing anonymity, apart from PrivateSend? For example, zk-SNARKS which Zcash uses are one of the latest cryptographic tools and probably one of the best so far (even better than ringCT that Monero uses).

fl0wd3v

newbie

Activity: 28

Merit: 0

One thing I do want to do is remove governance/DAO from the code. I feel that it can be manipulated by a big whale potentially buying a lot of Masternodes, creating a proposal and then voting on it and winning every budget block whilst they have majority Masternodes.

For this reason, I think it best that its removed, or, at least the budget block is made 0 for the time being and restrictions made in the code to render it useless.

fl0wd3v

newbie

Activity: 28

Merit: 0

Masternodes are in place as a 2nd tier of security for the network as well as providing a steady ROI to those invested in securing the network. The same as miners are rewarded for securing the network.

Not to mention the Masternodes provide InstantSend and PrivateSend functionality which improves overall speed and privacy on the network.

Any help is welcomed, please get in touch via PM.

loremipsum

hero member

Activity: 644

Merit: 501

Quote from: fl0wd3v on May 29, 2017, 09:46:00 AM

Quote from: loremipsum on May 29, 2017, 08:16:53 AM

Quote from: fl0wd3v on May 29, 2017, 07:26:34 AM

Quote from: loremipsum on May 29, 2017, 12:55:14 AM

I have been following this thread a bit. I would choose Argon2D as the algorithm. Or, another algorithm that is CPU-only mineable, like the one HODL coin uses.

At the same time, CPU-only coins are vulnerable to mining from botnets. So, an idea would be to make newly minted coins locked for a certain period of time, for example 1 or 2 months. This will discourage botnets which usually mine and dump right away. This strategy was implemented by HODL, but the lockup time was too long (1 year) and the coin almost died. They've now changed that.

I think applying a novel CPU-only algorithm and blocking botnet mining can really make the coin stand out.

I am going to fork Dynamic(DYN) as it has what I need and can strip out what is not needed.

I checked it out, it uses the Argon2D algo, looks interesting. But couldn't find any info about the premine.

What are you planning to change/strip out?

The coin only needs PoW/Masternodes, no governance, Namecoin functionality. However, I am not going to start work on anything until I know that people will use it and that I will in one way or another be reimbursed for my time, with everyone also being happy about it too.

Why do you want to use Masternodes? Is it for anonymity reasons?

I am not a developer but there are other ways I think I can help with

KingScorpio

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Activity: 1470

Merit: 325

Quote from: fl0wd3v on May 26, 2017, 07:53:48 AM

Quote from: SigmaDev on May 26, 2017, 07:50:26 AM

Hi, very interested, also what would be your take on general staking? Would you run this as ONLY PoW and masternodes or will you have general wallet staking implemented? From what i have read i presume that you have decided that it would only be masternode staking. Do you believe that the future of the coin could be jeopardized by a " only pow/masternode setup" were only early adopters or wealthy investers would remain the majority?

I am not personally a fan of PoS as this requires inputs to be unlocked the whole time whilst staking, which exposes the private keys, also, securing the Masternodes with PoS hashes is very much a bad idea. I think the reward structure I have laid out secures ROI and secures both miners and Masternode operators at different stages throughtout the lifecycle of coin production(~35 years).

more miners arent important there has to be just enough miners that the currency is reliably decentra, and its information system unhackable, bitcoin might have one day no miners at all the reward structure isnt important to the miners its the liquidity price what they have to keep their assets running. did someone calculated how much electricity bitcoin costs the world each year? maybe one day bitcoin gets shut down by environmentalists who did a petition which got supported by banksters or ethereum and other bitcoin competitors which dont have such a big mining structure, future lobbyism will be a threat to bitcoin and bitcoin doesnt has any owner who will protect it against them. those are just thoughts of me but they arent undeniable

loremipsum

hero member

Activity: 644

Merit: 501

Quote from: Lubuntu on May 29, 2017, 08:20:31 AM

What do you think about Vertcoin Scrypt-N algo ?
Is it vulnerable to mining from botnets ?

I haven't looked into Vertcoin lately but from what I read its mainly GPU-mined, CPU mining is now slower and has a smaller share than GPU mining; so no, it shouldn't have issues with botnets. But, its not a CPU-only coin anymore.

bustomi

full member

Activity: 224

Merit: 100

Quote from: andrew2k on May 26, 2017, 09:12:15 AM

Quote from: fl0wd3v on May 26, 2017, 08:45:35 AM

Name Idea: Flow(FLW)

Icon/Logo Idea:

Same logo as my GitHub: https://github.com/fl0wd3v

EDIT: This is just an idea I am throwing out there and I am more than willing to hear suggestions and see other logo options as well as names.

The logo seems a tad bit too simple in my opinion and it lacks creativity (sorry if it sounds insulting). Let's not brand it yet, why not take some more input form the community, give it a little more time maybe you'll come up with other ideas.

People around here tend to start branding coins too early.

what a logo.., looks similiar to other crypto.. bit still good Cheesy

fl0wd3v

newbie

Activity: 28

Merit: 0

Quote from: loremipsum on May 29, 2017, 08:16:53 AM

Quote from: fl0wd3v on May 29, 2017, 07:26:34 AM

Quote from: loremipsum on May 29, 2017, 12:55:14 AM

I have been following this thread a bit. I would choose Argon2D as the algorithm. Or, another algorithm that is CPU-only mineable, like the one HODL coin uses.

At the same time, CPU-only coins are vulnerable to mining from botnets. So, an idea would be to make newly minted coins locked for a certain period of time, for example 1 or 2 months. This will discourage botnets which usually mine and dump right away. This strategy was implemented by HODL, but the lockup time was too long (1 year) and the coin almost died. They've now changed that.

I think applying a novel CPU-only algorithm and blocking botnet mining can really make the coin stand out.

I am going to fork Dynamic(DYN) as it has what I need and can strip out what is not needed.

I checked it out, it uses the Argon2D algo, looks interesting. But couldn't find any info about the premine.

What are you planning to change/strip out?

The coin only needs PoW/Masternodes, no governance, Namecoin functionality. However, I am not going to start work on anything until I know that people will use it and that I will in one way or another be reimbursed for my time, with everyone also being happy about it too.

Lubuntu

newbie

Activity: 28

Merit: 0

What do you think about Vertcoin Scrypt-N algo ?
Is it vulnerable to mining from botnets ?

loremipsum

hero member

Activity: 644

Merit: 501

Quote from: fl0wd3v on May 29, 2017, 07:26:34 AM

Quote from: loremipsum on May 29, 2017, 12:55:14 AM

I have been following this thread a bit. I would choose Argon2D as the algorithm. Or, another algorithm that is CPU-only mineable, like the one HODL coin uses.

At the same time, CPU-only coins are vulnerable to mining from botnets. So, an idea would be to make newly minted coins locked for a certain period of time, for example 1 or 2 months. This will discourage botnets which usually mine and dump right away. This strategy was implemented by HODL, but the lockup time was too long (1 year) and the coin almost died. They've now changed that.

I think applying a novel CPU-only algorithm and blocking botnet mining can really make the coin stand out.

I am going to fork Dynamic(DYN) as it has what I need and can strip out what is not needed.

I checked it out, it uses the Argon2D algo, looks interesting. But couldn't find any info about the premine.

What are you planning to change/strip out?

fl0wd3v

newbie

Activity: 28

Merit: 0

Quote from: loremipsum on May 29, 2017, 12:55:14 AM

I have been following this thread a bit. I would choose Argon2D as the algorithm. Or, another algorithm that is CPU-only mineable, like the one HODL coin uses.

At the same time, CPU-only coins are vulnerable to mining from botnets. So, an idea would be to make newly minted coins locked for a certain period of time, for example 1 or 2 months. This will discourage botnets which usually mine and dump right away. This strategy was implemented by HODL, but the lockup time was too long (1 year) and the coin almost died. They've now changed that.

I think applying a novel CPU-only algorithm and blocking botnet mining can really make the coin stand out.

I am going to fork Dynamic(DYN) as it has what I need and can strip out what is not needed.

Topic: New Cryptographic Currency - page 2. (Read 4457 times)