[PRE-ANN] Gapcoin: prime gap based hashing - page 2.

tromp

legendary

Activity: 990

Merit: 1108

Quote from: j0nn9 on June 11, 2014, 08:08:18 AM

Quote from: liutiaoming1 on June 11, 2014, 07:47:21 AM

Suggest you update logo

I know its just a template, but there could be a logo contest.

You could use this prime-sieve program as a logo:

Code:

000100011001100101000110100
 000000101100000100100010101
 11110111          101001000
 11010000          111001101
 000000000010110111001110011
 11111011110000000011111001
 10111000
 00010110
0000110110

j0nn9

full member

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Quote from: liutiaoming1 on June 11, 2014, 07:47:21 AM

Suggest you update logo

I know its just a template, but there could be a logo contest.

liutiaoming1

sr. member

Activity: 262

Merit: 250

Suggest you update logo

KIRAZ

sr. member

Activity: 392

Merit: 250

Seems interesting, will keep a watch.

j0nn9

full member

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Merit: 154

Quote from: platorin on June 11, 2014, 06:37:17 AM

I wouldn't pass the source code to anyone before start. You should know why.

Source code will be available before launch (excluding the PoW function).
The hashing part will only contain prototype functions.
You won't be able to do anything with it, except checking if you setup your compile environment correctly.

Quote from: naphariel on June 11, 2014, 07:07:34 AM

Anonymously, or "anonymously"?

Anonymously as in Bitcoin "anonymously" Wink

Quote from: powersup on June 11, 2014, 07:14:32 AM

So does this mean the primecoin gpu miner could be ported to this coin.

Theoretically yes, but it will be much harder than just copy paste.

Quote from: powersup on June 11, 2014, 07:14:32 AM

If I understand correctly, you need to find prime numbers to work out prime gaps?

Yes

powersup

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Activity: 406

Merit: 250

Quote from: j0nn9 on June 10, 2014, 09:45:16 PM

Quote from: powersup on June 10, 2014, 09:35:40 PM

Interesting idea. Will you be releasing a whitepaper?

Maybe, but the website covers already the most parts.

Thanks, Nice read. You guys have done your homework.

So does this mean the primecoin gpu miner could be ported to this coin. If I understand correctly, you need to find prime numbers to work out prime gaps?

naphariel

newbie

Activity: 59

Merit: 0

From the website:

Quote

With Gapcoin, you will be able to anonymously send money...

Anonymously, or "anonymously"?

platorin

sr. member

Activity: 392

Merit: 250

I wouldn't pass the source code to anyone before start. You should know why.

GreekBitcoin

legendary

Activity: 1428

Merit: 1001

getmonero.org

Interesting

Keeping an eye on it.

j0nn9

full member

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Merit: 154

Quote from: powersup on June 10, 2014, 09:35:40 PM

Interesting idea. Will you be releasing a whitepaper?

Maybe, but the website covers already the most parts.

powersup

sr. member

Activity: 406

Merit: 250

Interesting idea. Will you be releasing a whitepaper?

youbob

member

Activity: 90

Merit: 10

Ok this will be my first coin ever to mine right as it lunches! I can't wait!

j0nn9

full member

Activity: 177

Merit: 154

Quote from: pozmu on June 10, 2014, 08:58:04 PM

CPU only, right?

Yes

Quote from: pozmu on June 10, 2014, 08:58:04 PM

Such block reward scheme will probably lead to dumping I'm afraid :/

In the beginning maybe, but once the difficulty has stabilized, the block reward won't change much.
Due to the logarithmic difficulty increase, the block reward will only have significant increase at the start.
This will effectively avoid instamine!

MsCollec

legendary

Activity: 1400

Merit: 1000

Seems interesting.

reflector

sr. member

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Any estimation for release?

pozmu

hero member

Activity: 770

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(っ◔◡◔)っ🍪

CPU only, right?
Such block reward scheme will probably lead to dumping I'm afraid :/

j0nn9

full member

Activity: 177

Merit: 154

GAPCOIN

The largest, decentralized prime gap search

Website: gapcoin.org
Twitter: Gapcoin

Specifications:

PoW: custom, prime gaps
Block target time 2.5 minutes
Block reward proportional to the current difficulty
Block reward halving every 420000 (about 2 years)
Cap: about 10 - 30 million GAP
Difficulty adjusts every block and increases logarithmic (it will probably take years to get to 50)

Fair launch:

Gapcoin was not designed to enrich the early adopters or the coin creators! The more people mine Gapcoin, the more coins per block will be produced. (Coin supply will increase logarithmic with the difficulty, this means it will grow in the beginning, but later, it won't change much.)
There won't be any premine!
To avoid instamine, the reward of the first 1152 blocks (about 48 hours) will increase quadratically to its absolute value: the current difficulty. Block reward will be 1/1152^2 * blockheight^2 * difficulty for the first 1152 blocks. This should guarantee that the difficulty is stable until the blocks yield a worthwhile amount of coins.
Source code will be available before launch (excluding the PoW function), so everyone can setup their own environment, compile the software, and check if everything works.
Windows and Linux binaries will be distributed in an encrypted container before launch, the password will be revealed at launch.

Launch date: Tue Oct 21 2014 - 18:00 UTC

Edit: Website now contains a mailing list.
Edit: Reward scheme changed: Block reward halving every 420000 (about 2 years) with about 10 - 30 million GAP.
Edit: We have an new and unique logo.
Edit: Launch date released

Launch thread: https://bitcointalksearch.org/topic/anngap-gapcoin-prime-gap-search-new-math-algo-cpu-gpu-zero-premine-822498

Topic: [PRE-ANN] Gapcoin: prime gap based hashing - page 2. (Read 4914 times)