Topic: [PRE-ANN][UBQ] Ubiq - Jumbucks (JBS) swap to Ethereum fork with new features - page 2. (Read 20094 times)
December 13, 2016, 07:45:10 PM
When pow will start ?
December 11, 2016, 07:13:48 PM
Something I would like to explain a little is the changes we have made to uncle rewards, one of the many changes ubiq has made to the stock ethereum codebase.
First the math:
uncle.reward = (((uncle.number + 2) - block.number) * block.reward) / 2
Where:
uncle.number = the block number/height of the uncle block.
block.number = the block number/height of the block which has included the uncle.
block.reward = the base block reward of the block which has included the uncle.
for example, if block 986 included an uncle of block 985.
uncle.reward = (((985 + 2) - 986) * 8 ) / 2 = 4UBQ
given our monetary policy, resulting in the block reward stepping down over time. Here's another example.
uncle.reward = (((1127 + 2) - 1128) * 7) / 2 = 3.5UBQ
you may have noticed, the uncle reward equals 1/2 of the base block reward. This holds true regardless of the base block reward. As the monetary policy steps the reward down, the uncle reward will always be block.reward / 2
So. what is the rest of the formula doing? It's ensuring a reward is only given, if uncle.number == block.number - 1.
more examples:
uncle.reward = (((985 + 2) - 986) * 8 ) / 2 = 4UBQ
uncle.reward = (((984 + 2) - 986) * 8 ) / 2 = 0
As you can see, only when an uncle of the previous block, is included in the current block, is the miner of the uncle block rewarded, any uncle blocks older than the previous block, are not rewarded.
How does this differ from ethereums formula? very subtly, but with a significant impact.
ethereums stock formula: uncle.reward = (((uncle.number + 8 ) - block.number) * block.reward) / 8
examples:
uncle.reward = (((985 + 8 ) - 986) * 5) / 8 = 4.375 ETH
uncle.reward = (((984 + 8 ) - 986) * 5) / 8 = 3.75 ETH
uncle.reward = (((983 + 8 ) - 986) * 5) / 8 = 3.125 ETH
uncle.reward = (((982 + 8 ) - 986) * 5) / 8 = 2.5 ETH
uncle.reward = (((981 + 8 ) - 986) * 5) / 8 = 1.875 ETH
uncle.reward = (((980 + 8 ) - 986) * 5) / 8 = 1.25 ETH
uncle.reward = (((979 + 8 ) - 986) * 5) / 8 = 0.625 ETH
uncle.reward = (((978 + 8 ) - 986) * 5) / 8 = 0 ETH
As you can see, ethereum is rewarding uncle blocks up to 7 blocks old. Given Ubiqs increased target blocktime of 88seconds (compared to ethereums 15seconds) we feel only rewarding uncles of the previous block makes more sense.
The reward for including an uncle in your block, remains as block.reward / 32. e.g 8/32=0.25UBQ
Edit: The approach Ubiq is taking has a couple of benefits, a) it minimizes unpredictable inflation from uncle rewards quite significantly, and b) it prevents miners from potentially being incentivized to mine uncle blocks, e.g if you mine an uncle that is 2 blocks old, you get nothing, but the miner who mined a valid (non uncle block) and includes your uncle, gets the additional reward (block.reward/32) regardless of how old your uncle block is.
Also worth noting, due to the increased target blocktime of 88 seconds, Ubiq will see a lot less uncle blocks on the network.
First the math:
uncle.reward = (((uncle.number + 2) - block.number) * block.reward) / 2
Where:
uncle.number = the block number/height of the uncle block.
block.number = the block number/height of the block which has included the uncle.
block.reward = the base block reward of the block which has included the uncle.
for example, if block 986 included an uncle of block 985.
uncle.reward = (((985 + 2) - 986) * 8 ) / 2 = 4UBQ
given our monetary policy, resulting in the block reward stepping down over time. Here's another example.
uncle.reward = (((1127 + 2) - 1128) * 7) / 2 = 3.5UBQ
you may have noticed, the uncle reward equals 1/2 of the base block reward. This holds true regardless of the base block reward. As the monetary policy steps the reward down, the uncle reward will always be block.reward / 2
So. what is the rest of the formula doing? It's ensuring a reward is only given, if uncle.number == block.number - 1.
more examples:
uncle.reward = (((985 + 2) - 986) * 8 ) / 2 = 4UBQ
uncle.reward = (((984 + 2) - 986) * 8 ) / 2 = 0
As you can see, only when an uncle of the previous block, is included in the current block, is the miner of the uncle block rewarded, any uncle blocks older than the previous block, are not rewarded.
How does this differ from ethereums formula? very subtly, but with a significant impact.
ethereums stock formula: uncle.reward = (((uncle.number + 8 ) - block.number) * block.reward) / 8
examples:
uncle.reward = (((985 + 8 ) - 986) * 5) / 8 = 4.375 ETH
uncle.reward = (((984 + 8 ) - 986) * 5) / 8 = 3.75 ETH
uncle.reward = (((983 + 8 ) - 986) * 5) / 8 = 3.125 ETH
uncle.reward = (((982 + 8 ) - 986) * 5) / 8 = 2.5 ETH
uncle.reward = (((981 + 8 ) - 986) * 5) / 8 = 1.875 ETH
uncle.reward = (((980 + 8 ) - 986) * 5) / 8 = 1.25 ETH
uncle.reward = (((979 + 8 ) - 986) * 5) / 8 = 0.625 ETH
uncle.reward = (((978 + 8 ) - 986) * 5) / 8 = 0 ETH
As you can see, ethereum is rewarding uncle blocks up to 7 blocks old. Given Ubiqs increased target blocktime of 88seconds (compared to ethereums 15seconds) we feel only rewarding uncles of the previous block makes more sense.
The reward for including an uncle in your block, remains as block.reward / 32. e.g 8/32=0.25UBQ
Edit: The approach Ubiq is taking has a couple of benefits, a) it minimizes unpredictable inflation from uncle rewards quite significantly, and b) it prevents miners from potentially being incentivized to mine uncle blocks, e.g if you mine an uncle that is 2 blocks old, you get nothing, but the miner who mined a valid (non uncle block) and includes your uncle, gets the additional reward (block.reward/32) regardless of how old your uncle block is.
Also worth noting, due to the increased target blocktime of 88 seconds, Ubiq will see a lot less uncle blocks on the network.
December 10, 2016, 05:44:16 PM
when launch?
December 10, 2016, 05:19:45 PM
Final Testnet was launched the other night.
It is ready for testing: https://github.com/ubiq/go-ubiq/releases/tag/v1.5.4-BETA
Successfully transitioning from block 1000 to block 1001 with a different reward.
It is ready for testing: https://github.com/ubiq/go-ubiq/releases/tag/v1.5.4-BETA
Successfully transitioning from block 1000 to block 1001 with a different reward.
December 08, 2016, 05:43:53 PM
So what did you think of the fork? What is the plan now?
Planning to release a new Testnet around < 24 hrs from now. There will be new binaries.
This is also planned to be the final Testnet release so consider it a final Beta release as well
Main changes are:
- Based on the latest geth 1.5.x
- Some minor code clean up and changes.
- Now known as gubiq (instead of gjbsee). Repo link: https://github.com/ubiq/go-ubiq/
- Live testing of monetary policy block rewards (this is opposed to Ethereum and other forks which have a fixed block reward). For now this steps down from 8 to 5 in increments of 1000 blocks. This will be modified in the main network. so in Testnet:
- blocks 1-1000 = 8 UBQ
- blocks 1001-2000 = 7 UBQ
- blocks 2001-3000 = 6 UBQ
- blocks 3001 onwards = 5 UBQ
- I ran some tests last night and things look good.
Some log lines:
Code:
AccumulateRewards block number: 995 Rewards: 8
AccumulateRewards block number: 996 Rewards: 8
AccumulateRewards block number: 997 Rewards: 8
AccumulateRewards block number: 998 Rewards: 8
AccumulateRewards block number: 999 Rewards: 8
AccumulateRewards block number: 1000 Rewards: 8
AccumulateRewards block number: 1001 Rewards: 7
AccumulateRewards block number: 1002 Rewards: 7
AccumulateRewards block number: 1003 Rewards: 7
...
AccumulateRewards block number: 1999 Rewards: 7
AccumulateRewards block number: 2000 Rewards: 7
AccumulateRewards block number: 2001 Rewards: 6
AccumulateRewards block number: 2002 Rewards: 6
AccumulateRewards block number: 2003 Rewards: 6
Started porting some changes to a mining pool as well:
https://github.com/ubiq/open-ethereum-pool/commit/d38fd5adbb927551e4a1065105d7d5844d56f9fb
November 29, 2016, 03:01:38 PM
So what did you think of the fork? What is the plan now?
November 20, 2016, 03:42:58 PM
Mentioned a few days ago in Slack:
quick update on development.
- Geth 1.5 is out with some new features. I'll look to port Ubiq to use this codebase.
- Going to take a look at implementing some monetary policy for mining.
- ETH hard fork is in 4.7 days. Going to observe that goes OK with no issues.
- Schedule launch and other items.
quick update on development.
- Geth 1.5 is out with some new features. I'll look to port Ubiq to use this codebase.
- Going to take a look at implementing some monetary policy for mining.
- ETH hard fork is in 4.7 days. Going to observe that goes OK with no issues.
- Schedule launch and other items.
October 29, 2016, 08:02:29 AM
Regarding the swap/launch of Ubiq:
Yes, we are waiting for the next hard fork of Ethereum to go through.
They recently posted some details today:
https://www.reddit.com/r/ethereum/comments/59vhws/update_on_imminent_hard_fork_10282016/
These are some pretty important changes such as preventing the chain from bloating in size from lots of empty accounts.
Yes, we are waiting for the next hard fork of Ethereum to go through.
They recently posted some details today:
https://www.reddit.com/r/ethereum/comments/59vhws/update_on_imminent_hard_fork_10282016/
These are some pretty important changes such as preventing the chain from bloating in size from lots of empty accounts.
When will the price move up again?
I'll check with your mother tomorrow.
In the meanwhile, don't forget to redeem your latest sig campaign.
Lol. Keep up the good work Julian.
October 29, 2016, 04:27:36 AM
Regarding the swap/launch of Ubiq:
Yes, we are waiting for the next hard fork of Ethereum to go through.
They recently posted some details today:
https://www.reddit.com/r/ethereum/comments/59vhws/update_on_imminent_hard_fork_10282016/
These are some pretty important changes such as preventing the chain from bloating in size from lots of empty accounts.
Yes, we are waiting for the next hard fork of Ethereum to go through.
They recently posted some details today:
https://www.reddit.com/r/ethereum/comments/59vhws/update_on_imminent_hard_fork_10282016/
These are some pretty important changes such as preventing the chain from bloating in size from lots of empty accounts.
When will the price move up again?
I'll check with your mother tomorrow.
In the meanwhile, don't forget to redeem your latest sig campaign.
October 29, 2016, 04:11:26 AM
Regarding the swap/launch of Ubiq:
Yes, we are waiting for the next hard fork of Ethereum to go through.
They recently posted some details today:
https://www.reddit.com/r/ethereum/comments/59vhws/update_on_imminent_hard_fork_10282016/
These are some pretty important changes such as preventing the chain from bloating in size from lots of empty accounts.
Yes, we are waiting for the next hard fork of Ethereum to go through.
They recently posted some details today:
https://www.reddit.com/r/ethereum/comments/59vhws/update_on_imminent_hard_fork_10282016/
These are some pretty important changes such as preventing the chain from bloating in size from lots of empty accounts.
When will the price move up again?
October 29, 2016, 03:49:58 AM
Regarding the swap/launch of Ubiq:
Yes, we are waiting for the next hard fork of Ethereum to go through.
They recently posted some details today:
https://www.reddit.com/r/ethereum/comments/59vhws/update_on_imminent_hard_fork_10282016/
These are some pretty important changes such as preventing the chain from bloating in size from lots of empty accounts.
Yes, we are waiting for the next hard fork of Ethereum to go through.
They recently posted some details today:
https://www.reddit.com/r/ethereum/comments/59vhws/update_on_imminent_hard_fork_10282016/
These are some pretty important changes such as preventing the chain from bloating in size from lots of empty accounts.
October 28, 2016, 04:39:17 AM
I'll have a pool up and running for you guys for sure, when will be launched ?
When will Ubiq be launched?
Hey ocminer. Yep, thanks again in advance!
So the short answer is that we are "ready to go" for launch and have extensively tested but we are delaying it for a few reasons. We will also post a new ANN thread closer to launch date.
Reasons to push it back:
The Ethereum network is experiencing some DoS attacks and they are actively improving the codebase. Their latest 2 releases are experimental/"bleeding edge". The last release was posted 3 days ago (https://github.com/ethereum/go-ethereum/releases/tag/v1.4.14) and states: "This is a Geth pre-release to counter the network DoS attacks from yesterday and those detected today. It is a prerelease (to help people get back on track fast) with further updates coming soon". We are waiting on these further updates to integrate them in.
We want to co-ordinate this with Bittrex and Bill writes "Can you make sure to send in a support ticket so we get it on our calendar.
We are considering having the code changes we have made in Ubiq reviewed by a Geth dev.
This PRE-ANN news thread will be new for a lot of people. They would need time to digest the information and speculate, buy/sell and claim their JBS addresses for the UBQ swap.
The launch will be definitely be in 2016. We are very eager to get the network up and running!
Do you think the launch will happen rather in November or December?
October 25, 2016, 06:02:08 PM
ETA on swap?
October 23, 2016, 01:55:41 PM
Just wanted to add my 2¢ to this.
What makes Jumbucks or the dev team of Jumbucks worth investing in?
The number of other Altcoins that have forked or are based on the Jumbucks source. I have noticed there are a few of them out there. Most are not easy to spot as they did not fork directly from the Jumbucks GitHub, but they are out there.
If the code of the coin is good enough to fork from, when compared to the number of choices to chose from, it does make a statement about the developers of this coin and future development to rely on for continued development.
I expect to see more of this with Ubiq. Why fork a vanilla ethereum, when you could fork Ubiq with digishield v3 and Exponentially Subjective Scoring. I'm also writing a new version of Iquidus Explorer from scratch, for eth based chains, 'ubiquidus explorer', which I also expect to be used by a large number of eth based projects (much like Iquidus is for btc based chains).
Regarding estimation for swap time.. Soon™
Both myself and Julian have had some work related stuff take up more time recently than expected. (Julian new job, me just chaos). Although I'm taking time off to focus on Ubiq as I type this. My company is also planning to focus on Ubiq smart contracts/dapps as much as possible, so I will have a lot more time moving forward dedicated to Ubiq. The attacks on eth clients also delayed the swap. We want to make sure everything is ready, and we wont encounter any issues early on that result in potential forks. Reliability and stability are primary focuses, no one wants to build enterprise level dapps on a chain that forks every couple of months. Once we are confident everything is in order we will announce a solid date. 
October 23, 2016, 11:38:47 AM
so, re there any possible dates for the swap?
October 21, 2016, 02:33:13 AM
October 18, 2016, 09:57:04 AM
It's killing me not knowing when this is gunna happen! 
October 14, 2016, 09:28:11 AM
I often mistaken this to Ubiqouin which I am staking right now, I'm not aware if they are on Yobit but if they are going to be traded there,there could be a little confusion because of the symbol.
October 14, 2016, 08:42:42 AM
Finally getting the swap all set up, lol. Keep up the great work guys! Will always hold some JBS/UBQ
October 13, 2016, 08:29:56 PM
All it need is whale with about couple hundreds btc )
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