Topic: [Ultracoin] [Est. Feb 2014] ~ ASIC Resistant & Ultrafast 6 Second Transactions! - page 62. (Read 381063 times)

thanks sambiohazard

The new investors and liquidity is the chicken/egg problem.  There must be good reasons for new investors to come to Ultracoin.

please think about these points with respect to Coinomi:

- consider the cost to pay devs to set up a Mac wallet - ?
- Set up an android wallet and
- set up an iOS wallet

is this going to cost USD 1500?

 - cost to have 2 extra full nodes (24/7)

We need more full and dedicated 24/7 nodes - will this cost  USD 600 per year?



Waves DEX (Decentralised Exchange) - this is not a WAVES asset - its a separate exchange like Polo or Bittrex - so yes any coin or asset can list if Waves release to intentions.

I am not up to speed with Komodo - Their DEX is described broadly here:   https://komodoplatform.com/dex-whitepaper/
As I understand it other blockchains can link via the Supernet. The Iguana power - Iguana Core is another SuperNET innovation that will use the Komodo blockchain. It is a software framework that provides APIs for linking multiple blockchains into a single super network. It also enables developers to create decentralized applications using the same set of APIs. Jl777 points out that Iguana Core interfaces with Komodo and bitcoin.  This has promise.

I brought Supernet to UTC attention in Sept 2014
https://bitcointalk.org/index.php?topic=727023.msg8663215;topicseen#msg8663215

Cheers - usukan

Thanks everyone for the input re 2FA, I now realise it would not bring more security for the wallet other than in my imagination.
Re coinomi, yes it was rather steep price for the service, if the community think we should go ahead with this option we need to finance it. I can stand for 10 % of the cost.
If we won't go forward with coinomi what other project should we focus on?
Thanks Usukan for getting the info from coinomi.

that seems a bit too high to me, i think we should first get some new investors and liquidity. Regarding the WAVES platform, it has to be a token swap to go on their platform, anyways it is still in development and there asset exchange is still months away. I think komodo platform's model of notarization to bitcoin blockchain for any  altcoin via their platform is much more easy to transition to.

Regarding the 2FA debate, SMS/mobile or mail based 2FA is very weak and easily hacked, otoh Google Authenticator or hardware 2FA like Yubikey is very secure. Kraken wrote an excellent article regarding this.

http://blog.kraken.com/post/153209105847/security-advisory-mobile-phones

COINOMI

here is the reply from Coinomi which details their package for adding a coin and providing a wallet service for Ultracoin that covers Windows/Mac desktops, Android, and iOS.

https://coinomi.com/




So its USD 1,500 upfront - then a minimum of USD 600 per year (for 2 servers)

USD 2,100 (approx 2.8 BTC) for the first year - then USD 600/year after that.


Community - Please discuss


Cheers - usukan

thanks for that bret - sounds like you know far more about this than me.

Spotted this story on 2FA which may interest some folk.

https://blog.trezor.io/why-you-should-never-use-google-authenticator-again-e166d09d4324#.kynb4p2wn

Cheers - usukan

In order for 2FA to work in QT the private keys would need to carry with them meta data about the 2FA which sounds like a nightmare. It would probably open up privacy concerns as it would be extremely easy to determine what keys are grouped into a wallet. You wouldn't need a central authority, but each private key would need the 2FA data associated with it so that the wallet could verify the 2FA code.


Wouldn't a strong password / pass phrase work just as well as 2FA for the wallet? That is really all 2FA protects you from, is weak / exposed passwords.


Correct me if I am wrong on any of the above points.

Hi wtfc30

see above suggestion - we are cross posting

Don't forget that Bitfinix 2FA accounts got hacked. 2FA is not the panacea.

Hi again Usukan!

Ok, I'll drop it the 2FA, we should not focus on this at the moment or maybe ever again 
Let's focus on all the other exciting stuff we can do with UTC now that we have a really well working and stable wallet and it looks like more connections to the network and even some more activity here from the community.

Hi Usukan, yea I', sorry about the qoute line, got it wrong, my bad. No intention to make it look like your words, sorry!
 

Hi wtfc30


WAVES is a completely different protocol (a Hybrid Scorex etc with diff relationships between nodes) - Its a world away from any QT wallet or any other coin at present. They are not even distantly related.  Their 2FA prototype would not work on a QT wallet - bitcoin/UTC or even ETH (and other wallets not based on the WAVES platform) etc.  

I have seen one suggestion that QT wallet coins (Bitcoin) could implement 2FA in Jan 2015 - but here we are in late 2016 and nothing has happened in this space.

https://bitcointalksearch.org/topic/m.10257539

Try and contact this "Poramin Insom" (ex Vertcoin - Last Active:   May 17, 2015, 08:30:33 AM) guy and see if the code has been used and successful if you want?

The bottom line (Mike Hearn) was that a good hardware wallet was by far the best solution - since 2fa still relies on an uncompromised PC/mobile.  Ultracoin added to for example Trezor or other hardware wallet.

Don't forget that Bitfinix 2FA accounts got hacked. 2FA is not the panacea.

Suggestion if you are ultra security conscious:
 
1 - Save your wallet.dat files to 3-4 high quality USB sticks (backups). 
2 - Delete them from any computers that go online.
3 - Store them at several locations in fire/waterproof boxes. 

You can restore at any time - but make sure you run virus/malware programs to ensure your device is clean - before you restore and transact.  Better still - buy a new clean device if its risk justified , sync, run virus/malware and then restore wallet.dat

4 - If you do any transactions - update your wallet.dat backups.
5 - Repeat 1-3

alternatively - just extract your private keys and store as in 3 above (paper or engraved titanium wallet)



Cheers - usukan

usukan - I suspect this was pre Kracko - but maybe wrong, tried it when first out but stopped working and deleted it - whatever - Kracko has vapourised...........

By the way, did anyone see this about Bittrex?
https://bittrex.zendesk.com/hc/en-us/articles/231701788

usukan - This is standard stuff. If you don't have 2FA and are not verified - you should expect just that.  It protects YOU really.


usukan - this is not my quote - its yours. As I said "With 2FA on a QT wallet - I have never heard of that solution.  2FA relies on some centralised party - so online wallets can have 2FA - but not QT.  Maybe Coinomi can have 2FA?" but I see that at present Coinomi does not seem to have 2FA.

Hi wtfc30

I have no idea who the dev was who put up the Android UTC wallet on GooglePlay - it won't work now and should be taken down - but the dev who put it on can only do that.  Unless we can just complain to Google but that really never works very well. (UPDATE - I have reported the issue via 2 routes and asked removal from the store ASAP)

With 2FA on a QT wallet - I have never heard of that solution.  2FA relies on some centralised party - so online wallets can have 2FA - but not QT.  Maybe Coinomi can have 2FA?

Cheers - usukan
[/quote]

If I'm not mistaken I believe it was Kracko that was doing the android wallet.

In Waves they presented a decentralized 2FA prototype (under Conferance and events):
https://blog.wavesplatform.com/waves-weekly-no-17-d3858e39812f#.ormmd7xnv
"The other event is hackathon http://hack4people.ru/ that took place at Digital October over the weekend, November 11–13. Waves team presented decentralized 2FA prototype during the hackathon, the source code is available already on GitHub."
Here is the link on youtube for that, to be honest I don't really understand what they did, but maybe it' working.
https://www.youtube.com/watch?v=FHrt2f1YTl0

I couldn't find 2FA on Coinomi but they have this One Time Backup:
Hierarchical Deterministic Wallet (BIP44) enables you to keep everything accessible and secure with just one super-passphrase which you only have to back-up once and for all.


By the way, did anyone see this about Bittrex?
https://bittrex.zendesk.com/hc/en-us/articles/231701788

Anyone using a 750ti? What are your hash rates plz.  thx

Yeah Waves looks promising, i think its similar to NXT in that you can issue tokens w/o maintaing a blockchain. I also liked the idea of Komodo, although if it works or not is yet to be seen. They just finisheed there ICO. You can read about it here https://steemit.com/komodo/@komodoplatform/a-guide-to-better-understand-komodo

Hi sambiohazard

The Coinomi is clearly popular

and lets keep following up on decentralised exchanges - I am following WAVES DEX and will report if its feasible for UTC when WAVES adds DEX to their platform.  There will be a LOT of publicity around WAVES shortly so an early listing by UTC can get us a lot of free promotion I imagine.

Cheers - usukan

Hi wtfc30

Yes - I'm certainly in favour of adding Coinomi.  We need to find costs to add.  I have already contacted them and discussed - I await their reply - I will advise so we have some concrete facts to discuss.

I have no idea who the dev was who put up the Android UTC wallet on GooglePlay - it won't work now and should be taken down - but the dev who put it on can only do that.  Unless we can just complain to Google but that really never works very well. (UPDATE - I have reported the issue via 2 routes and asked removal from the store ASAP)

With 2FA on a QT wallet - I have never heard of that solution.  2FA relies on some centralised party - so online wallets can have 2FA - but not QT.  Maybe Coinomi can have 2FA?

Cheers - usukan

i like the idea of coinomi and a decentralized exchange.

Let's start with the Coinomi! It's as good start as any other project and won't require that much of an effort for the UTC-Team/management.

Simple to use, we don't have to make a new android/ios wallet (the one we have is/was very slow on the phone, more like a downsized desktop version and not "applike", not sure even if it works now after the fork?).
https://play.google.com/store/apps/details?id=net.ultracoin.ultracoinqt&hl=en
What do you say, I couldn't find any price for including a new coin, just a link to contact them...
Anyway, I'll be more than happy to provide some funds (BTC) if that is what is needed. It shouldn't take that long to get UTC integrated in Coinomi app. After that we have a working version of the desktop wallet and a mobile app wallet, Ta Da!!!


And by the way I still would like the wallet to have 2FA if possible...(for the next fork that would be maybe)

Hello Usukan.

Thanks for your consideration of these ideas, and for the feedback. 

Re Coinomi:

An early Christmas present for the community?

Re Bitsquare:

I was unaware that the arrival of other decentralised exchanges was imminent.  You may well be right that Bitsquare is not the optimal choice for UTC, so these other options should certainly be looked at.  I have no knowledge of WAVES DEX; I’ll try to look into it when I get the time; I hope others in the community will do some research too.

Re POSwallet:

Yes, I was flagging this up purely for faucet purposes, i.e as a means of bringing UTC to the attention of more people. I agree with you entirely about the unattractiveness of centralised staking.

Re ROKOS:

Cost is, of course, a consideration, but I feel sure a crowdfund would yield results.

Re NOBLEmovement:

I’m in the UK (so not in SEPA), therefore as a user of £GBP, NoblePay is not yet an option for me, but it still looks like a good system, one I am quite enthusiastic about.  As I see it, their project is a work-in-progress so £GBP integration I only a matter of time, as is expansion into South-East Asia/India.

As for the WAVES asset option, OK, why not, if that proves to be the simplest and cheapest route to take?  More research needed, I think.

And finally, yes Usukan, starting a discussion is exactly what I was trying to do.  Everyone needs to get involved in charting the way forward for UTC, so let’s have many more comments/suggestions/bright ideas from the community.  Wisdom of crowds, and all that.

Hi CRYPTONAIRE

Good suggestions - my comments

https://coinomi.com/

(GREAT)

https://bitsquare.io/

(Good but there are new decentralised exchanges coming which may be better an eg WAVES DEX - I have always been a bit concerned at why Bitsquare never really has "taken off" - for eg it only does about 4 BTC per 24 hours https://coinmarketcap.com/exchanges/bitsquare/ )


https://poswallet.com/faucet.php

(Good if you are suggesting a UTC faucet - but centralised staking where coin
keys are not under your control does not appeal to me)

http://rokos.space/

(Good for more cheap nodes.  We need more full nodes.   1.1 - 1.6 BTC to get UTC integrated plus the cost of the hardware)

https://noblemovement.com/

(This is my favourite by a long way - opens FIAT gateway and simple/cheap o/s remittances for Ultracoin. Remittances is one of my special interests because its such a huge market in SE Asia especially - and ripe for further disruption. Noble is limited to EU and AU - so if it added SE Asia/India it would be the icing on the cake but EU and AU is not bad at all.  We all need to review other options with the Noble features and new opportunities. Adding UTC as a WAVES asset and utilising their FIAT gateways might be a simpler and more global opportunity in the future.  The perfect solution in the future may be for Ultracoin to set up its own FIAT gateways - but thats a big job that would take a while and cost - so for now an existing platform like Noble is attractive.  It demonstrates just how simple it is for UTC to get into real world use cases that have real utility and value.  Currently it costs 5,000 NOXT to get added to NOBLE - this is USD 40 at the last traded price? - I might add that a scary feature to NOXT is the forever falling price - this does not indicate a healthy platform  https://coinmarketcap.com/assets/noblenxt/  and worse - no currently active NOXT markets?  NOXT stopped trading June 2016? http://www.blockchainstats.org/altcoin-market-data/noblenxt-market-data/ so where you buy NOXT is a mystery?  Last NOBLE update was July 2016 just after trading stopped and there is a TBA update with many key features still outstanding.  So this all takes me back to thinking that this NXT asset might be moved into WAVES platform maybe - it has been talked about.  So adding UTC as a WAVES asset directly may be simpler and far better?  I really can't quickly unravel this NOXT/Noble story - has anybody used NOBLE wallet?  Recently? )

These are just my personal opinions from a bit of quick research - its really up to the community to decide priorities, volunteer in assistance to projects/research and fund.

Thanks for starting off this discussion - great ideas here @CRYPTONAIRE.


Cheers - usukan