[PRE-ANN][XCN] Cryptonite | 1st mini-blockchain coin | M7 PoW | No Premine - page 9.

aaaxn

sr. member

Activity: 359

Merit: 250

I think inflation looks like this:

Code:

year inflation
1 99%
2 49%
3 33%
4 25%
5 20%
6 16%
7 14%
8 12%
9 11%
10 10%
11 9%
12 8%
13 7%
14 7%
15 6%
16 6%
17 6%
18 5%
19 5%
20 5%

bitfreak!

legendary

Activity: 1536

Merit: 1000

electronic [r]evolution

Quote from: Joshuar on July 24, 2014, 08:39:25 AM

Quote from: ?? on ??

This coin looks interesting. But by halving in 100 years, I'm afraid that the result would be big inflation for too much time.

100 years?! I must of mislooked that wow...Vertcoin's 2 year halving is driving it's price into the ground, from 6 dollars to 13 cents in 1 1/2 months..

Yea, halving less than every 1 year is optimal..

I highly doubt that has anything to do with why the value of vertcoin is plummeting, 2 years is a rather short half life. It is not our goal to have a short mining period and then make all the early adopters rich because it becomes so hard to mine later on, that is a pump and dump in my books. And this way we can perhaps please those people who want infinite inflation, without actually having infinite inflation. And let me also be clear about one thing, the block reward will not halve after 100 years. The block reward drops slightly with every new block, and it will take 100 years before it has dropped enough that the block reward is half of what it started as.

Joshuar

hero member

Activity: 504

Merit: 500

eidoo wallet

Quote from: ?? on ??

This coin looks interesting. But by halving in 100 years, I'm afraid that the result would be big inflation for too much time.

100 years?! I must of mislooked that wow...Vertcoin's 2 year halving is driving it's price into the ground, from 6 dollars to 13 cents in 1 1/2 months..

Yea, halving less than every 1 year is optimal..

sleepdog

full member

Activity: 183

Merit: 100

Quote from: Yanakitu Tenatako on July 22, 2014, 03:59:32 AM

BitFreak, please consider this:

Make possible to use multiple computers on a single server for solo mining. To same wallet.
Bytecoin for example, had no such option from beginning, every comp needs own wallet and there is no conf file for daemon.

This would be greatly appreciated here too.

coinsolidation

sr. member

Activity: 294

Merit: 250

Bitmark Developer

Quote from: bitfreak! on July 23, 2014, 02:18:05 AM

When we go fully open source we'll be able to expand the dev team and get more eyes on the code.

After many discussions with all sectors of the community, we came to the conclusion that the following approach had many benefits https://github.com/project-bitmark/bitmark/wiki/IPM-Pool

Please do consider the proposal as it may help ensure the balance and longevity of your coin.

Best Wishes, Mark

btccoffee

sr. member

Activity: 516

Merit: 250

kingcasino.io

come soon！！

bitfreak!

legendary

Activity: 1536

Merit: 1000

electronic [r]evolution

Quote from: Uran0s on July 22, 2014, 03:15:30 PM

How many members @ dev team?

It's basically just catia, we do have another developer but he doesn't get much time to work with us and catia ended up doing the vast majority of the work. But honestly catia is a genius so he didn't really need much help along the way, he understood what needed to be done and made it happen remarkably quickly. When we go fully open source we'll be able to expand the dev team and get more eyes on the code.

wadili89

legendary

Activity: 1106

Merit: 1000

promising. will be watching this one

provenceday

legendary

Activity: 1148

Merit: 1000

will mine some for sure.

baseke

sr. member

Activity: 389

Merit: 256

innovations are good.

Uran0s

sr. member

Activity: 350

Merit: 250

How many members @ dev team?

catia

full member

Activity: 288

Merit: 105

Quote from: djm34 on July 21, 2014, 07:53:50 PM

did you change your mind regarding the m7 (I can't find that on the wiki page Grin

).

I think sha256/sha512 is a bit redundant
Why not replacing sha256 by skein512 (also it will be crypting only half of the hash, so placing it in the first position doesn't seem a good idea)

The page on the PoW is here http://cryptonite.info/wiki/index.php?title=M7_PoW

The thing about hashing less bits with some of the hashes doesn't really matter because the hashes are not chained. Multiplication preserves all entropy, at least if you don't allow 0 hashes, kind of like XOR the hashes together. So in this way we can safely use hashes of different lengths. Using both sha256/sha512 isn't counter productive because they use separate constants, it's analogous to taking sha256(X) ^ sha256(X + salt), which is not any more secure that just a salted hash, but it is not any worse. Since one of the goals here is to increase the amount of hardware an ASIC would require, using both hashes suits that purpose quite well since there is no way to reuse a sha512 core to compute sha256.

Btw, big fan of your miners.

billotronic

legendary

Activity: 1610

Merit: 1000

Crackpot Idealist

been testing this off and on for a month now and I must say it is super awesome to of seen this project come together!

To those who don't know: bitfreak and catia seem to have one hell of a dynamic between them and this coin could not be backed by a better dev team. I very anxiously look forward to launch day!

catia

full member

Activity: 288

Merit: 105

Quote from: discodancer on July 22, 2014, 08:10:35 AM

I am still wondering how much of the multisig will go hand in hand with this coin. While bitcoin can still process keys > 3, it certainly is a pain. will this coin handle say 6-7 keys at a time during multisig? If yes, what about the size and fees which will go along with it?

Signatures can handle up to 255 signers. The signature size is 20 bytes for every potential signer and an extra 45 for every actual signer. So for example a 2 of 3 would be, 3*20 + 2*45 + 1 = 151 byte signature. Transaction fees are set by miners and are paid by rounding up to nearest 1000 byte chunk. Default fee is 1 satoshi per byte, so your looking at minimum fee of 1000 satoshi's for even quite large multisig transactions.

bitfreak!

legendary

Activity: 1536

Merit: 1000

electronic [r]evolution

Thanks a lot LazyCoins Exchange! I appreciate your consideration of our coin for your exchange. Your platform is well designed and seems to have some impressive security features so I look forward to trading XCN on it. We are both just getting started so hopefully we can help each other succeed.

Xdragon

hero member

Activity: 543

Merit: 500

Looks very promising. I am in Grin

. Also there is coin with almost same name https://bitcointalksearch.org/topic/annkryp-kryptonite-x11-pow-dgw-landed-24th-may-2014-330pm-bst-606682

joelpina

full member

Activity: 177

Merit: 100

Do you guys have a long term plan for this coin? If so would like to know more as it seems quite intersting already.

joelpina

full member

Activity: 177

Merit: 100

No such thing as new bitcoin but a nice marketing ploy

Uran0s

sr. member

Activity: 350

Merit: 250

New bitcoin ? Cheesy

Looks freaky interesting.

joelpina

full member

Activity: 177

Merit: 100

This looks good.. I am watching this! Roll Eyes

Topic: [PRE-ANN][XCN] Cryptonite | 1st mini-blockchain coin | M7 PoW | No Premine - page 9. (Read 24108 times)