Topic: Question on Darkcoin - page 2. (Read 1997 times)
It's one of the most innovative coins around.
Darkcoin is one of the more interesting coins to me.
A competent, innovative developer not afraid to use his real name.
A proprietary anoymizing system , Darksend.
X11 chain hashing algorithm which is super secure, ASIC resistant and runs cooler on GPUs and with less wattage than Scrypt. X11 is being copied by other coins.
A difficulty retargeting system, Dark Gravity Wave, that is being copied by other coins.
As other coins steal Darkcoin's innovations, it focuses the spotlight more on Darkcoin.
I see better days ahead for Darkcoin.
A competent, innovative developer not afraid to use his real name.
A proprietary anoymizing system , Darksend.
X11 chain hashing algorithm which is super secure, ASIC resistant and runs cooler on GPUs and with less wattage than Scrypt. X11 is being copied by other coins.
A difficulty retargeting system, Dark Gravity Wave, that is being copied by other coins.
As other coins steal Darkcoin's innovations, it focuses the spotlight more on Darkcoin.
I see better days ahead for Darkcoin.
X11 and SHA3 ( Keccak ) are not ASIC resistant at all, according to NIST (National Institute of Standards and Technology), if you want to become SHA3 candidate, you need to be able to create by ASIC. AND every algorithms in X11 used to be SHA3 candidate until Keccak win the competition and become SHA3.
Here is the paper : http://csrc.nist.gov/groups/ST/hash/sha-3/Round2/Aug2010/documents/papers/SCHAUMONT_SHA3.pdf
Here is the paper : http://csrc.nist.gov/groups/ST/hash/sha-3/Round2/Aug2010/documents/papers/SCHAUMONT_SHA3.pdf
Each algorithm in X11 may individually be non resistant but it is not the case when they are combined. X11 is a set of hash functions and SHA3 is a hash function, apples and oranges.
X11 and SHA3 ( Keccak ) are not ASIC resistant at all, according to NIST (National Institute of Standards and Technology), if you want to become SHA3 candidate, you need to be able to create by ASIC. AND every algorithms in X11 used to be SHA3 candidate until Keccak win the competition and become SHA3.
Here is the paper : http://csrc.nist.gov/groups/ST/hash/sha-3/Round2/Aug2010/documents/papers/SCHAUMONT_SHA3.pdf
Here is the paper : http://csrc.nist.gov/groups/ST/hash/sha-3/Round2/Aug2010/documents/papers/SCHAUMONT_SHA3.pdf
The whole point of X11 is to try and get the same network growth cycle as Bitcoin. Once Darkcoin is worth enough, people will invest the capital to create the ASICs. I never really had an issue with that, in fact that was the point of creating a new hashing algorithm, I think it will be healthy in the end to move to ASICs.
Recently I taken a liking in Crypto investment, and so far returns appears to warrant me to keep going.
to disclose. I have the following:
50% LTC <- doing well in china.
20% Doge <- also doing well in china.
20% WDC <- incredible speed and development.
10% others <- Test stuff.
around 300k USD in total, not a lot.
Recently, I am looking to add some funds in, at first, I thought of Vertcoin, but after a bit of discussion, I realize Vertcoin offers nothing different then Doge, in fact, it is a slower version of it only. Asic protection is a nice perk, but I am convinced that it is not going to be effective. As such, I moved on to my next research, Darkcoin.
Now, this one seems interesting, I do think it has enough difference to have its own niche of survival.
can anyone here tell me more about it?
how does Darkcoin does it?
and will their innovation be vulnerable to any newer tools to unveil them?
Let me know. and thanks.
One of many things that brought me in was that I'm finding myself wondering what eduffield (main developer) will come up with next. Not because I'm looking for more, but because it seems like every week the guy comes and does something fantastic.
From what I can tell, there is a team of developers but the main announcements come from his account . . very well controlled approach.
Next on the list . . the question comes up as to why people mine the coin in the first place . . even though there's still a slim but definite margin in mining profitability. The push for people to continue to mine the coin, even through the few cents less a day they could produce if mining a different coin shows a strong community of supporters.
Leading into how the price held almost horizontal for some time . . this makes me think that the mining community here is not bent on immediate sales to other currencies and isn't looking to take this directly to the bank in less than a day. Backing this up so far is that the price grew by 25% and I didn't see everyone dumping immediately.
Then there's the rest of what comes with the coin itself . . which is the first coin to offer the x11 chained algorithm, the first coin to offer the DGW difficulty retargeting mechanism, a new approach to a trustless anonymous transaction system still in active beta, and a full time transparent software developer with many years of experience.
I guess what I'm trying to say is that in just a few months . . there's a lot more than just a good potential already on the table.
Can people currently use the new approach to a trustless anonymous transaction system even though it is still in active beta? Does active beta mean it runs on the testnet or real network?
The beta testing is on the mainnet. In the OP for the coin this is quoted as well . . along with directions on how to try it out.
Recently I taken a liking in Crypto investment, and so far returns appears to warrant me to keep going.
to disclose. I have the following:
50% LTC <- doing well in china.
20% Doge <- also doing well in china.
20% WDC <- incredible speed and development.
10% others <- Test stuff.
around 300k USD in total, not a lot.
Recently, I am looking to add some funds in, at first, I thought of Vertcoin, but after a bit of discussion, I realize Vertcoin offers nothing different then Doge, in fact, it is a slower version of it only. Asic protection is a nice perk, but I am convinced that it is not going to be effective. As such, I moved on to my next research, Darkcoin.
Now, this one seems interesting, I do think it has enough difference to have its own niche of survival.
can anyone here tell me more about it?
how does Darkcoin does it?
and will their innovation be vulnerable to any newer tools to unveil them?
Let me know. and thanks.
One of many things that brought me in was that I'm finding myself wondering what eduffield (main developer) will come up with next. Not because I'm looking for more, but because it seems like every week the guy comes and does something fantastic.
From what I can tell, there is a team of developers but the main announcements come from his account . . very well controlled approach.
Next on the list . . the question comes up as to why people mine the coin in the first place . . even though there's still a slim but definite margin in mining profitability. The push for people to continue to mine the coin, even through the few cents less a day they could produce if mining a different coin shows a strong community of supporters.
Leading into how the price held almost horizontal for some time . . this makes me think that the mining community here is not bent on immediate sales to other currencies and isn't looking to take this directly to the bank in less than a day. Backing this up so far is that the price grew by 25% and I didn't see everyone dumping immediately.
Then there's the rest of what comes with the coin itself . . which is the first coin to offer the x11 chained algorithm, the first coin to offer the DGW difficulty retargeting mechanism, a new approach to a trustless anonymous transaction system still in active beta, and a full time transparent software developer with many years of experience.
I guess what I'm trying to say is that in just a few months . . there's a lot more than just a good potential already on the table.
Can people currently use the new approach to a trustless anonymous transaction system even though it is still in active beta? Does active beta mean it runs on the testnet or real network?
Recently I taken a liking in Crypto investment, and so far returns appears to warrant me to keep going.
to disclose. I have the following:
50% LTC <- doing well in china.
20% Doge <- also doing well in china.
20% WDC <- incredible speed and development.
10% others <- Test stuff.
around 300k USD in total, not a lot.
Recently, I am looking to add some funds in, at first, I thought of Vertcoin, but after a bit of discussion, I realize Vertcoin offers nothing different then Doge, in fact, it is a slower version of it only. Asic protection is a nice perk, but I am convinced that it is not going to be effective. As such, I moved on to my next research, Darkcoin.
Now, this one seems interesting, I do think it has enough difference to have its own niche of survival.
can anyone here tell me more about it?
how does Darkcoin does it?
and will their innovation be vulnerable to any newer tools to unveil them?
Let me know. and thanks.
One of many things that brought me in was that I'm finding myself wondering what eduffield (main developer) will come up with next. Not because I'm looking for more, but because it seems like every week the guy comes and does something fantastic.
From what I can tell, there is a team of developers but the main announcements come from his account . . very well controlled approach.
Next on the list . . the question comes up as to why people mine the coin in the first place . . even though there's still a slim but definite margin in mining profitability. The push for people to continue to mine the coin, even through the few cents less a day they could produce if mining a different coin shows a strong community of supporters.
Leading into how the price held almost horizontal for some time . . this makes me think that the mining community here is not bent on immediate sales to other currencies and isn't looking to take this directly to the bank in less than a day. Backing this up so far is that the price grew by 25% and I didn't see everyone dumping immediately.
Then there's the rest of what comes with the coin itself . . which is the first coin to offer the x11 chained algorithm, the first coin to offer the DGW difficulty retargeting mechanism, a new approach to a trustless anonymous transaction system still in active beta, and a full time transparent software developer with many years of experience.
I guess what I'm trying to say is that in just a few months . . there's a lot more than just a good potential already on the table.
X11 and SHA3 ( Keccak ) are not ASIC resistant at all, according to NIST (National Institute of Standards and Technology), if you want to become SHA3 candidate, you need to be able to create by ASIC. AND every algorithms in X11 used to be SHA3 candidate until Keccak win the competition and become SHA3.
Here is the paper : http://csrc.nist.gov/groups/ST/hash/sha-3/Round2/Aug2010/documents/papers/SCHAUMONT_SHA3.pdf
Here is the paper : http://csrc.nist.gov/groups/ST/hash/sha-3/Round2/Aug2010/documents/papers/SCHAUMONT_SHA3.pdf
300k in USD? I wish we had more rich investors like you
I'm also curious between darkcoin and blackcoin. I was interested in both of these for a hodl, longterm.
It is first with x11 algo, first to make an improvement over KGW, and has a special feature called darksend. Darksend makes your transactions not so obvious in the blockchain. It also takes half the electricity of scrypt.
Recently I taken a liking in Crypto investment, and so far returns appears to warrant me to keep going.
to disclose. I have the following:
50% LTC <- doing well in china.
20% Doge <- also doing well in china.
20% WDC <- incredible speed and development.
10% others <- Test stuff.
around 300k USD in total, not a lot.
Recently, I am looking to add some funds in, at first, I thought of Vertcoin, but after a bit of discussion, I realize Vertcoin offers nothing different then Doge, in fact, it is a slower version of it only. Asic protection is a nice perk, but I am convinced that it is not going to be effective. As such, I moved on to my next research, Darkcoin.
Now, this one seems interesting, I do think it has enough difference to have its own niche of survival.
can anyone here tell me more about it?
how does Darkcoin does it?
and will their innovation be vulnerable to any newer tools to unveil them?
Let me know. and thanks.
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