Also can i ask when the skycoin will become fractionable? broken to less than one round unit?
And locked coins through an API for the next 14 years.
I did not get the comment about devs only gettin coins after 20 years. you lost me there..
Fractional coin support and timelocked distribution are in the v0.20 milestone, which also includes a new wallet.
This is the v0.20 milestone tracker:
https://github.com/skycoin/skycoin/milestone/2Timelocked distribution is already merged to the develop branch.
25% of the coins are immediately distributable (although we do not intend to distribute these in less than 1-2 years, and maybe up to 5 years).
Once this 25% is distributed, another 5% immediately becomes distributable (with a software update; the timestamp of the block that reached 25% distribution will be hardcoded). This 5% is the first unlocked year and each subsequent year will unlock another 5%. There is no requirement to spend the 5%, the unlocked amount will accumulate if unspent.
We are considering slowing down the timelock even further:
* 5% each year for 5 years
* 4% each year for 5 years
* 3% each year for 5 years
* 2% each year for 5 years
* 1% each year for 5 years
This make it last for 25 years instead of 14, and is better suited to our growth forecasts. Note that for technical reasons, locking is handled in 1% chunks, otherwise we would be doing exponential decay.
Fractional coin support requires some API changes. Internally, the blockchain always supported up to 6 decimal places, but some APIs are using whole coins instead of 1e6 coins (droplets). This is a priority because it affects the minimum exchange withdrawal fee.
Someone mentioned a bug about 0 balance. I am not sure if this is the wallet frontend or because of the database file in the ~/.skycoin folder. You can try deleting the *.db files in ~/.skycoin (do not delete your wallets!).
Wallet encryption is another important feature request but it is set for the v0.21 milestone. We want to get the new wallet out first and add some improvements to assist in exchange integration for our coin. One of the difficulties with getting skycoin listed on more exchanges, is that it has its own API so the exchanges can't reuse their bitcoin or erc20 code and add it in an afternoon. So we are trying to make the integration process smooth for them.
Skycoin wallets use a bip32 mnemomic seed by default. The addresses in the wallet are generated deterministically. So with this mnemonic seed, you can generate infinite addresses. As a workaround to the lack of wallet encryption, you can memorize your mnemonic seed and delete the wlt file in ~/.skycoin/wallets. Note that you will have to delete the wlt file after you close skycoin, it might save loaded wallets on shutdown.
We will be adding "temporary load from seed" for wallets in v0.21, which will not save the seed in the wallet file. We can also do electrum style encryption, where we use a master key to encrypt the wallet files. Each approach is different.