Update:
Release builds are being prepared.
Design paper would be available by tomorrow.
Release is still on schedule for tomorrow.
2013-07-07 18:00 UTC
Topic: [XPM] [ANN] Primecoin Prerelease Announcement - Introducing Prime Proof-of-Work - page 16. (Read 71645 times)
July 06, 2013, 07:17:37 AM
July 06, 2013, 07:11:09 AM
Ron, it's an issue of innovators vs copycats. There is good reason your proposed release process is not followed by us, neither by any copycat altcoins.
As far as I am concerned, I don't mind other people copying our work, but the ethics in the altcoin development community is questionable, most copycats don't give credit to original authors, not even following basic things like displaying proper copyrights in the client, sometimes even touted the innovations as their own.
As far as I am concerned, I don't mind other people copying our work, but the ethics in the altcoin development community is questionable, most copycats don't give credit to original authors, not even following basic things like displaying proper copyrights in the client, sometimes even touted the innovations as their own.
You replied only to my P.S
July 06, 2013, 07:07:56 AM
Ron, it's an issue of innovators vs copycats. There is good reason your proposed release process is not followed by us, neither by any copycat altcoins.
As far as I am concerned, I don't mind other people copying our work, but the ethics in the altcoin development community is questionable, most copycats don't give credit to original authors, not even following basic things like displaying proper copyrights in the client, sometimes even touted the innovations as their own.
As far as I am concerned, I don't mind other people copying our work, but the ethics in the altcoin development community is questionable, most copycats don't give credit to original authors, not even following basic things like displaying proper copyrights in the client, sometimes even touted the innovations as their own.
July 06, 2013, 03:36:44 AM
Release Schedule
Primecoin release is tentatively scheduled for 2013 July 7th 18:00 UTC
Primecoin release is tentatively scheduled for 2013 July 7th 18:00 UTC
Why are we so close to the release date and still not enough details have been released yet?
They key missing ingredient right now is something that would convince us that Primecoin does indeed "do useful work", being the key feature.
BTW, I love your work at PPCoin, and am excited to see Primecoin launched. Just two days ago a friend asked me if there's a way to design a Bitcoin fork that does useful work, and I arrogantly gave him my standard answer that "there are strong theoretical reasons to believe it can't be done" ... and then 20 minutes later I found this thread. Glad to be proven wrong.
Why not follow a release schedule like coblee did with Litecoin, where the client was released ahead of time to let people install & test it, and the release itself consisted of simply releasing a config value?
P.S. I refer you to the alt-chain release RFC that I wrote almost 1.5 years ago.
I can't say that it was adopted in any way whatsoever by the authors of alt-coins, but perhaps it should.
(It's up for editing of course)
Anyway, good lunch with the launch. I'll be mining and am also interesting to purchase some.
July 06, 2013, 03:34:12 AM
Any updates on this Sunny? Still planning to launch? Really interested to see some detail on how the prime PoW functions...
July 05, 2013, 11:50:11 AM
Why do you people waste your time with stuff like that?
If you spend all your time on improving bitcoin, that would really help.
What does a different proof of work change?
- it does not change that transactions have to be collected in a block
- it does not change that you have to wait for x confirmations
- it does not change that blocks have to broadcasted
- it does not change .. anything
If you spend all your time on improving bitcoin, that would really help.
What does a different proof of work change?
- it does not change that transactions have to be collected in a block
- it does not change that you have to wait for x confirmations
- it does not change that blocks have to broadcasted
- it does not change .. anything
Traditional PoW methods are quite wasteful of our energy resources. We need a solution that either reduces energy consumption massively, or at least puts the energy to more use than just maintaining a blockchain.
If you hadn't heard, Sunny King developed a potential solution to this several months back.
http://ppcoin.org/
http://ppcoin.org/static/ppcoin-paper.pdf
July 05, 2013, 11:40:58 AM
I am happy to announce that the primecoin project is now close to beta quality and will be released to public soon. Please keep in mind this is experimental technology and we reserve the rights to rollback or restart the blockchain should severe bug/vulnerability require such actions. However we would try our best to avoid such scenarios and further develop it into reliable public infrastructure.
Introducing primecoin
ppcoin + primecoin
ppcoin vs primecoin
Release Schedule
Primecoin release is tentatively scheduled for 2013 July 7th 18:00 UTC
Introducing primecoin
- First non-hashcash proof-of-work in cryptocurrency, pure prime number based proof-of-work
- Cpu mining at launch, gpu mining to be developed by market participants
- Pure proof-of-work, no proof-of-stake (unlike ppcoin), not energy efficient, but with additional potential scientific value derived from proof-of-work energy consumption (energy multiuse)
- Scarcity enforced by Moore's Law similar to ppcoin, mint rate gradually drops as difficulty rises, without sudden halving shock
- Security model similar to bitcoin
- Continuous difficulty adjustment like ppcoin
- Reasonably high starting difficulty to limit instamining
- 1 minute target block spacing
- Zero premine, zero tax
ppcoin + primecoin
- Sharing the same goal of real innovations, moving cryptocurrency technology forward and demonstrating our technical capabilities
- Sharing the same value, open source, no premine, no tax, advancing cryptocurrency technology for humanity
- Cpu mining initially for primecoin to cater to a larger mining community, now covering all mining hardwares with both ppcoin (gpu+fpga+asic) and primecoin (cpu)
- New innovations in primecoin catering to a wider audience including the mathematical and other scientific computing community, and users who prefer pure proof-of-work cryptocurrencies.
- Sharing development resources and infrastructures
- Different innovative cryptocurrency designs provide cryptocurrency investors with diversified advanced technology portfolio
- Strategic positioning for the next 5 years in cryptocurrency market
ppcoin vs primecoin
- ppcoin is our first innovative cryptocurrency design to focus on energy efficiency. Almost a year after its release ppcoin's design remains the only proof-of-stake design on the market, with seven forks/clones (NVC, BTB, YAC, BTG, BOT, CGB, YAB). primecoin is our second innovative design to focus on alternative proof-of-work system producing additional scientific values. The two networks would work in synergy to achieve our long-term cryptocurrency strategy.
- Cryptocurrency market has now split into two sectors, energy intensive sector and energy efficient sector. In the longer term (5+ years) I believe the energy efficient sector would begin to challenge the energy intensive sector due to its cost advantage. In the shorter term though energy intensive market would likely remain dominant and we would like to have an innovative and competitive offering in this sector as well. The innovations in primecoin give us this opportunity, and would complement ppcoin to strengthen our strategic position in the market.
- The energy intensive sector currently has two major types of proof-of-work, both of the hashcash type, one is SHA-256, the other is scrypt. There have been some new variations of the hash functions recently, with modified scrypt and SHA-3 series hash functions as well, or even compositions of different hash functions. Though existing cryptocurrencies are all still based on hashcash proof-of-work. primecoin introduces the first non-hashcash proof-of-work in cryptocurrency, the first type of proof-of-work that not only secures the block chain, but also provides additional potential scientific value, paving the way for future proof-of-work types with more diverse scientific interests and uses.
- Both ppcoin and primecoin demonstrate our design prowess and capability in real innovations. We are fully dedicated to provide long term support and further development to both cryptocurrencies.
- For existing ppcoin users our dedication to the continued development of ppcoin and its market has not changed. ppcoin's advanced proof-of-stake technology has long-term advantage over pure proof-of-work designs, and is an innovative environmental-friendly solution to the escalating energy consumption on cryptocurrency. In my opinion the energy intensive sector will fragment into many different types of proof-of-work, a single type of proof-of-work is unlikely to maintain dominance. More fragmentation is likely even within a single type of proof-of-work. Meanwhile the energy efficient sector would rise to challege the energy intensive sector, and ppcoin is among the leading contenders in the energy efficient sector. So in terms of our long term strategy ppcoin is of more importance than primecoin.
Release Schedule
Primecoin release is tentatively scheduled for 2013 July 7th 18:00 UTC
When an exchange is made will someone allow me to purchase PPcoin with Primecoin?
I think this is critical so whoever is making the exchanges, we will need this ability to exchange back and forth between PPcoin and Primecoin because many of us are going to be mining one or the other but not both.
July 05, 2013, 11:22:37 AM
I will keep an eye on this~~
July 05, 2013, 02:38:39 AM
Why do you people waste your time with stuff like that?
If you spend all your time on improving bitcoin, that would really help.
What does a different proof of work change?
- it does not change that transactions have to be collected in a block
- it does not change that you have to wait for x confirmations
- it does not change that blocks have to broadcasted
- it does not change .. anything
If you spend all your time on improving bitcoin, that would really help.
What does a different proof of work change?
- it does not change that transactions have to be collected in a block
- it does not change that you have to wait for x confirmations
- it does not change that blocks have to broadcasted
- it does not change .. anything
Traditional PoW methods are quite wasteful of our energy resources. We need a solution that either reduces energy consumption massively, or at least puts the energy to more use than just maintaining a blockchain.
If you hadn't heard, Sunny King developed a potential solution to this several months back.
http://ppcoin.org/
http://ppcoin.org/static/ppcoin-paper.pdf
July 05, 2013, 02:36:56 AM
I would urge that if this project is to be scientifically significant, you do a payout per number tried starting in mainly mersenne prime territory (in the millions of digits). My reasoning is that searching numbers from the beginning would just be validation of currently known primes and if payout were per prime the gain in research will not exist since people won't continue when in takes many years to find one, unless the payout increases and divides among everyone involved, but then huge chunks of currency would be released all at once devaluing it. Therefore, for research it would be best starting where needed and paid out per number tried.
He'll have to start in uncharted territory. Otherwise some smart aleck could just go look up all the known primes and generate a huge string of blocks for himself.
July 04, 2013, 11:34:09 PM
I would urge that if this project is to be scientifically significant, you do a payout per number tried starting in mainly mersenne prime territory (in the millions of digits). My reasoning is that searching numbers from the beginning would just be validation of currently known primes and if payout were per prime the gain in research will not exist since people won't continue when in takes many years to find one, unless the payout increases and divides among everyone involved, but then huge chunks of currency would be released all at once devaluing it. Therefore, for research it would be best starting where needed and paid out per number tried.
July 04, 2013, 10:16:34 PM
True, but is finding prime really important to the world if everyone keeps running this til the next century ? At the end, it's just another scheme of coin distribution. Prime might be cool in 1920, now it's quite yawn. If it's like trying to find new patterns in human gnome or something I would approve.
Traditional PoW methods are quite wasteful of our energy resources. We need a solution that either reduces energy consumption massively, or at least puts the energy to more use than just maintaining a blockchain.
Why do you people waste your time with stuff like that?
If you spend all your time on improving bitcoin, that would really help.
What does a different proof of work change?
- it does not change that transactions have to be collected in a block
- it does not change that you have to wait for x confirmations
- it does not change that blocks have to broadcasted
- it does not change .. anything
If you spend all your time on improving bitcoin, that would really help.
What does a different proof of work change?
- it does not change that transactions have to be collected in a block
- it does not change that you have to wait for x confirmations
- it does not change that blocks have to broadcasted
- it does not change .. anything
Traditional PoW methods are quite wasteful of our energy resources. We need a solution that either reduces energy consumption massively, or at least puts the energy to more use than just maintaining a blockchain.
July 04, 2013, 09:57:32 PM
Will be waiting for Primecoin to launch, I am definitely interested in this coin.
July 04, 2013, 05:20:18 PM
Well this is rather interesting time to use some supercomputers to fast mine all of this 
July 04, 2013, 04:57:28 PM
Why do you people waste your time with stuff like that?
If you spend all your time on improving bitcoin, that would really help.
What does a different proof of work change?
- it does not change that transactions have to be collected in a block
- it does not change that you have to wait for x confirmations
- it does not change that blocks have to broadcasted
- it does not change .. anything
If you spend all your time on improving bitcoin, that would really help.
What does a different proof of work change?
- it does not change that transactions have to be collected in a block
- it does not change that you have to wait for x confirmations
- it does not change that blocks have to broadcasted
- it does not change .. anything
Traditional PoW methods are quite wasteful of our energy resources. We need a solution that either reduces energy consumption massively, or at least puts the energy to more use than just maintaining a blockchain.
July 04, 2013, 01:11:32 PM
Well done Sunny, I am looking forward which results will bring this new step.
July 04, 2013, 12:48:56 PM
Why do you people waste your time with stuff like that?
If you spend all your time on improving bitcoin, that would really help.
What does a different proof of work change?
- it does not change that transactions have to be collected in a block
- it does not change that you have to wait for x confirmations
- it does not change that blocks have to broadcasted
- it does not change .. anything
If you spend all your time on improving bitcoin, that would really help.
What does a different proof of work change?
- it does not change that transactions have to be collected in a block
- it does not change that you have to wait for x confirmations
- it does not change that blocks have to broadcasted
- it does not change .. anything
July 04, 2013, 11:13:24 AM
So much expectation 
July 04, 2013, 09:33:11 AM
Finally something that will actually have real value.
I wouldn't go that far.I know not yet. But I would like to see a proof of work linked to something like finding new primes and this project is the closest I've seen.
but we haven't seen anything yet! please give more details on what this project is about
July 03, 2013, 06:24:17 PM
Not for now Charles...cpu only mining via wallet at launch.
Should be fairly interesting, I have high hopes in this and eMunies/Microcash.
Should be fairly interesting, I have high hopes in this and eMunies/Microcash.
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