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Topic: [PPC] [XPM] Peercoin/Primecoin Weekly Updates - page 8. (Read 96121 times)

legendary
Activity: 1205
Merit: 1010
Weekly Update #77

  • Primecoin network reached a new record last month for 13-primes, a 107 digit Cunningham chain of first kind. This breaks the record held by Primecoin in September last year, a 94 digit Cunningham chain of 2nd kind (https://github.com/primecoin/primecoin/wiki/World-records).
  • Riecoin appears to be ready for launch. Riecoin was in development by gatra, initially hyped as a tester of Riemann hypothesis (thus the name) last year. A brief read of the its pre-launch description indicates that the proof-of-work is now a slight variation of Primecoin's proof-of-work, searching for a specific type of prime constellations instead of Cunningham chains. The author of Riecoin compared it with Primecoin, although most of his criticisms of Primecoin are due to lack of a good understanding of Primecoin's design choices. In fact I have described most of them in my Primecoin paper. I certainly welcome other work based on Primecoin however it would be nice for the author to give proper credits.

Have fun!
legendary
Activity: 1205
Merit: 1010
Weekly Update #76

  • Super3: new primecoin website preview: http://primecoin.io/
  • I am busy wrapping up peercoin v0.4 release. Stay tuned.

Have fun!
legendary
Activity: 1205
Merit: 1010
Weekly Update #75

  • There will be a change with the release plan of peercoin. I have decided to include a minor protocol change for future p2pool support so the release will become a mandatory upgrade release. There will be at least 4 weeks or more upgrade window provided to users. The previously planned v0.3.1 will become the v0.4.0 release, and the previous v0.4 development would become the v0.5 development.
  • So the new v0.4.0 release should be ready soon. I have updated the repo throughout the week and Fuzzy started publishing some test builds. Please report any bugs found to our forum. Remember to always backup wallet before switching to a different wallet client. Also you are recommended to try it out on testnet first.

Have fun!
legendary
Activity: 1205
Merit: 1010
Weekly Update #74

  • Peercoin v0.3.1 should be ready for release in the next couple days. Some high priority features have been ported to v0.3.1 in addition to bug fixes.
  • The new feature in v0.3.1 includes debug window rpc console, which allows user issue rpc commands inside the qt client. This simplifies operations such as unlocking wallet for block minting, especially for windows and mac users.
  • Another feature ported to v0.3.1 is the RPC API getblocktemplate/submitblock, which is a high priority requirement for mining pools as peercoin mining is now dominated by ASIC devices. If you are operating a peercoin mining pool, please help test the new API with the latest code in repo.
  • There is also a slight change to testnet node. Previously testnet node shares default rpc port (9902) with production node. Now testnet node has a separate default rpc port 9904. Testnet node can be run simultaneously with production node, but if you use command line for rpc access make sure you use the -testnet switch to query testnet node.

Have fun!
legendary
Activity: 1205
Merit: 1010
Weekly Update #73

  • Due to the bug affecting Peercoin minters using Qt with minting only unlock mode, I would release a v0.3.1 bug fix builds for these users. No need to upgrade if you don't use this feature.
  • Peercoin v0.4 is still under testing. I will push a development branch once testing is complete.
  • Check out gpool.net, another relatively new primecoin mining pool. I didn't realize primecoin has a few more forks now Wink

Have fun!
legendary
Activity: 1205
Merit: 1010
Weekly Update #72

  • kactech has been organizing projects for peercoin/primecoin android wallets. This is great effort as I think it is one of the important long term goals as cell phone payment is strategic market for cryptocurrency. Also, wallet app for cell phones can be more user-friendly catering to a wider audience.
  • A fix is published for testing for the block minting only unlock mode with Qt (encrypted wallet), see (http://www.peercointalk.org/index.php?topic=1917.0). This is a feature to provide additional user security for minting blocks. The feature is confirmed to not quite work for Qt in v0.3.0. Note this bug has no impact on block chain security.
  • If you sent me a private message recently that I haven't been able to get back to you, I will be reviewing my messages (both bitcointalk and peercointalk) during the week.

Have fun!
legendary
Activity: 1205
Merit: 1010
Weekly Update #71

Review of year

2013 has been a fruitful year for cryptocurrencies. Bitcoin woke up from a relatively uneventful 2012 and its marketcap reaches US$10B for the first time. China becomes one of the major markets for cryptocurrencies. Peercoin achieves 1% of bitcoin marketcap for the first time. Numerous currency networks were started, including primecoin from our team, bringing new innovations in proof-of-work consensus algorithms. Meanwhile, ripple introduces the first built-in exchange in a currency network, and establishes itself as the second most valued currency network after bitcoin.

As the competition heats up, 2014 would be an interesting year to look forward to Smiley

Happy New Year!
legendary
Activity: 1205
Merit: 1010
Weekly Update #70

No report from me this week. Wish everyone a wonderful holiday season Smiley
legendary
Activity: 1205
Merit: 1010
Weekly Update #69

  • Primecoin difficulty reaches 10.
  • I am trying to work with potential business partners to help further peercoin and primecoin, having been extremely busy last couple weeks. Peercoin development is still ongoing, so please be patient. At this time of the year, there are also quite a bit personal obligations so my response to communications might be slow.
  • I sincerely thank all your support of the innovations in peercoin and primecoin. Your support are crucial to the success of peercoin and primecoin projects.

Have fun!
legendary
Activity: 1205
Merit: 1010
Weekly Update #68

  • Jordan has made some good progress with Peershare project.
  • John and I have completed an interview with CNBC Asia.
  • There have been some discussions regarding transaction fees in PPC/XPM. I have recently explained my philosophy on the issue of transaction fees. But I am happy to see many of our users are interested in debating such subject extensively on the forum. This is part of the open source culture, that anyone interested can offer opinions and insights. As a lead developer I think it is also healthy for me to listen to inputs from community.
  • So I would like to give some summary of my thoughts on this matter. The goal of PPC/XPM projects are not to try dominate both store of value and medium of exchange in cryptocurrency. I have mentioned the concept of backbone currency. I feel the attempt to dominate every aspect of money is what drives the adjustment of bitcoin transaction fees, which has seen reduction from 0.01, to 0.0005, and now 0.0001. However in my opinion blockchain data structure has some inherent scalability limitations, so such a goal is probably not wise for a single cryptocurrency. Note currently PPC/XPM still has a lower fee than bitcoin in terms of the real fee value. So there is no need to rush this topic. In fact the minimum fee is enforced in protocol to require a hardfork when changing minimum fee, exactly to encourage long term thinking and careful decision making regarding transaction fees. We should have plenty of time to observe bitcoin's struggle with block chain capacity (in terms of both total blockchain size and throughput/block size), the delicate balance between transaction fee, block chain capacity and user experience. In contrast to bitcoin dev I value decentralization and usability over a lower transaction fee.
  • Transaction fee is also an important regulator on the transaction spamming attack, which could potentially significantly reduce network service quality (prolonging confirmation time). So this should also play an important role in the decision making of transaction fees.
  • Meanwhile I have never said transaction fees are fixed at 0.01 forever. There are many factors at play, the general hardware performance including network bandwidth, the advances in blockchain data structure etc. These factors should also play important future roles in determine a good minimum fee value.

Have fun!
legendary
Activity: 1205
Merit: 1010
Weekly Update #67


Have fun!
legendary
Activity: 1205
Merit: 1010
Weekly Update #66


Have fun!
legendary
Activity: 1205
Merit: 1010
Weekly Update #65

  • Community newsletter #2 here: https://bitcointalksearch.org/topic/ppc-peercoin-weekly-newsletter-issue-2-326659
  • Community newsletter #3 here: https://bitcointalksearch.org/topic/ppc-peercoin-weekly-newsletter-issue-3-333962
  • Primecoin has gracefully recovered from a block rate impact event this week due to problems at ypool.net. Block rate about halved after ypool.net went offline, but the difficulty continuously adjusted to the event. Primecoin network has now recovered close to 1 minute block spacing target.
  • Primecoin has its first fork named datacoin this week. Of course there are countless PPC forks already I have lost track of them long time ago.
  • Bitcoin continues the relentless climb in the exchange markets all over the world, broke $5B USD market cap and marching towards $10B USD market cap. Looking back the entire cryptocurrency community has made huge achievements together. Let's keep working together toward a better future!

Have fun!
legendary
Activity: 1205
Merit: 1010
Weekly Update #64

  • John and I have completed a round of interview with coindesk on PPC. An article has been published on coindesk regarding PPC.
  • Primecoin difficulty is approaching 10. In July at primecoin's release, the network started at difficulty 7. We have come a long way in a short four months, I have never expected such fast pace of miner improvements and adoption. Difficulty 10 is more than four orders of magnitude more computing intensive than difficulty 7 in primecoin. Current primecoin network difficulty is around 9.975.
  • Supercomputing has started working on a gpu (cuda) implementation of primecoin miner. He has reported promising results so far which could make gpu mining competitive for xpm, though currently this project is still under private development.
  • I have relocated PPC testnet seed node. PPC testnet resumes operation.
  • Don't forget to check out all the different community activities on peercointalk.org!

Have fun!
legendary
Activity: 1205
Merit: 1010
Weekly Update #63

  • New 12-primes record by primecoin: block #239833, 110 digit length 12 Cunningham chain of 1st kind.
  • Community newsletter #1 published: https://bitcointalksearch.org/topic/ppc-peercoin-weekly-newsletter-issue-1-321355
  • rpool.net back online at 15% xpm mining. ypool.net accounts for about 50% of xpm mining.
  • The Amsterdam bitcoin conference this coming week is cancelled due to lack of attendance. Although there are many more conferences coming up around the world. So stay tuned for our future participation.

Have fun!
legendary
Activity: 1205
Merit: 1010
Weekly Update #62

  • Vault of Satoshi (previously Toronto Bitcoin Exchange) now supports PPC trading.
  • I have completed a round of interview with John Manglaviti based on community member questions.
  • Thijs van den Berg will present PPC and XPM technology in Bitcoin Conference in Amsterdam early next month.
  • PPC website has been updated. Thanks Super3 and web team!
  • Both beeeeer.org and rpool.net pools were under DDoS attack. At the moment rpool appears to be restored, beeeeer.org would reopen later by xolokram.
  • Lots of activities on our forum. Feel free to participate! Fill out survey (http://www.peercointalk.org/index.php?topic=715).

Have fun Smiley
legendary
Activity: 1205
Merit: 1010
Weekly Update #61

  • Recent new records in primecoin network: 10-primes: 146 digit 1CC type at block 182690; 12-primes: 103 digit TWN type at block 212935.
  • Primecoin trading added to Coinmkt.com. Coinmkt now trades both PPC and XPM against USD.
  • RPool.net, the 3rd primecoin mining pool rises quickly in the last two weeks and now accounts for about 20% of primecoin blocks. RPool pays coins in generation transaction (coinbase) letting coins mature in miner's own wallet, similar to Eligius pool of bitcoin.
  • Effort is underway on ppcointalk.org for contributors to focus on different areas in marketing and development for PPC/XPM, everyone is welcome to participate.

Have fun!
legendary
Activity: 1205
Merit: 1010
Weekly Update #60

  • xpm reached top 5 in marketcap ranking on coinmarketcap.com.
  • btc-e added xpm trading support.
  • During the litecoin reddit event on Sunday, both coblee and wtogami claim that xpm is centralized and that I could shut it down if I am forced to. I am quite disappointed at the intellectual dishonesty of these supposedly respectable figures in altcoins. It's quite questionable whether this is only due to their ignorance of the way checkpoints work in xpm, as that has been public knowledge for quite some time. In xpm users must explicitly issue command to enforce checkpoint, I cannot single-handedly shutdown xpm network nor force a reorganization of the block chain. The decentralization level of xpm is basically the same as bitcoin or litecoin.

    Moreover, ppc would also gradually transition to this operation mode of checkpoint. Even before that happens, I cannot arbitrarily shutdown ppc network either. The checkpoint system in ppc and xpm also builds in consistency check to protect network if checkpoint key is compromised. Overall the defense mechanism is much more effective against sustained 51% attack and is a great asset to help small altcoin networks.

    I sincerely hope altcoin developers could compete honestly and fairly, keeping in mind the philosophy behind cryptocurrency movement, how else could we achieve the goal together without moral backbone?

Trade cautiously and have fun!
legendary
Activity: 1205
Merit: 1010
Weekly Update #59

  • Cryptsy opens XPM Markets section. XPM can now be traded directly with LTC and a few newly released altcoins.
  • PPC briefly touched $10M market cap, consolidating the lead over NMC as the 3rd in market cap behind BTC and LTC. Trading volume has been impressive last few days. PPC proof-of-work difficulty breaks 6 million and block reward drops under 200. The current annual inflation rate of PPC is approaching that of BTC.
  • PPC v0.4 has been making progress but it still needs some more work. Hopefully the merge with bitcoin v0.8 would be code complete this week and testing can be started. On the other hand, I am evaluating the cold-locked transaction feature proposed several months ago, it may get implemented into v0.4 if things go smooth. This feature allows PPC users to run hot wallet minting stake without the risk of losing the coins due to compromised system. This feature is particularly important for operators with public wallet such as exchanges.

Trade with caution and have fun!
legendary
Activity: 1205
Merit: 1010
September 30, 2013, 10:53:14 PM
#53
Weekly Update #58

  • New primecoin mining pools have been opened recently. Beeeeer.org have been gaining popularity. And this week a new Chinese pool called RPool opened business. Together with yPool there are over 12k workers mining in the pools.
  • PPC difficulty is now over 3 million and inflation rate continues to drop due to rapid deployment of ASIC miners.
  • I am very happy to see more and more users joining the communities of PPC and XPM, contributing ideas to help further development of the networks and services to cryptocurrency market in general.

Have fun!
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