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Title: [ANN][LOST] LostCoin - Pinging Off-the-Radar Post by: RagnarDanneskjold on March 18, 2014, 10:36:39 AM LostCoin [LOST, ¤]
http://s7.postimg.org/6j6bldsmj/lostcoiin.jpg see also: Tim Dog Coin https://bitcointalk.org/index.php?topic=464091.0 -What is LostCoin? -LostCoin is like Bitcoin, but based on Proof-of-Loss and written in CommonLisp Proof-of-Loss is similar to Proof-of-Burn (https://en.bitcoin.it/wiki/Proof_of_burn#Coin-burning_as_a_tool_for_transition_between_cryptocurrencies), the main difference being Proof-of-Loss requires demonstrable, permanently 'lost' wallet access. The computational equivalent for Proof-of-Work is accomplished with P2SH (https://github.com/bitcoin/bips/blob/master/bip-0016.mediawiki) or other provably random, destructive, 'loss-receipt' redeem script generating process - sending coins and priv keys to a final resting place or unrecoverable / lost-address. Users can then 'spend' their lost coin 'credit' by exchanging proof-of-burn/loss redeem scripts - which requires destroying/rehashing again to generate recipient users' new proof-of-loss redeem script. Note the distinction from 'burnt' coins or sending to unspendable addresses by which LostCoins technically[theoretically] could be found and recovered. The proof is spending outputs to addresses generated using 'provably unknowable' priv keys. Whereas burnt coins are the equivalent of shooting a missile @ a plane and watching it disintegrate, LostCoins are those which have just gone off the Radar. -License - -LostCoin is released under the terms of the DAYP Immunity https://github.com/RagnarDanneskjold/DAYP-Immunity. -Development and contributions - -Developers work in their own trees, then submit pull requests when they think their feature or bug fix is ready. -Frequently Asked Questions: -How much LostCoin can exist? 750,000 LOST -Block Target Every 44..444... seconds -4.444... Hour Difficulty Readjustments -Initial block reward: -4.44 -Block reward adjustment rate[ *0.444..]: 444,444 -How to get LostCoin? -Scrypt Proof-of-Loss -make lostcoind -sudo apt-get install build-essential \ -libssl-dev \ -libdb5.1++-dev \ -libboost-all-dev \ -libqrencode-dev \ -libminiupnpc-dev --cd src/ --make -f makefile.unix... ### ######## Title: Re: [ANN][LOST] LostCoin - Pinging Off-the-Radar Post by: lolcoind on March 18, 2014, 10:50:30 AM sos !!! lost
Title: Re: [ANN][LOST] LostCoin - Pinging Off-the-Radar Post by: Amph on March 18, 2014, 10:52:02 AM i'm lost too, among all these scammycoin
Title: Re: [ANN][LOST] LostCoin - Pinging Off-the-Radar Post by: RagnarDanneskjold on March 18, 2014, 11:19:37 AM http://en.wikipedia.org/wiki/Parable_of_the_Lost_Coin
Title: Re: [ANN][LOST] LostCoin - Pinging Off-the-Radar Post by: RagnarDanneskjold on March 19, 2014, 10:49:58 AM Proof-of-Lock is a method to formalize and validate a private key's loss/destruction to demonstrate ownership/control of a 'LockProof' wallet/address
Based on Proof-of-Loss, LockProofs are like indestructible piggybanks - you can deposit but cannot spend / send outputs. Proof-of-Lock requires a 'destructive' computational proof [as with ProofofLoss] - the difference being that users maintain 'ownership' of the new LockProof address / public key. The destruction / loss-proofing applies only to the private key. Proof-of-Lock users control or trade pub keys and LockProof redeem scripts. Proof-of-Lock recipients should generate new redeem scripts [hash+ of previous script] for security and to demonstrate individual ownership. |
