Bitcoin Forum

Purplecoin: The first stateless sharded cryptocurrency and blockchain
With the advent of Bitcoin, decentralised ledgers have sprung into existence. While revolutionary for its time, Bitcoin could not satisfy the needs of the masses due to its inability to scale to global needs. No other blockchain protocol has managed to achieve this, at least not without sacrificing the one thing that made Bitcoin as powerful as it is: being tamper-proof, even against state actors. We believe we have managed to achieve what Bitcoin couldn't. We will now present the first stateless cryptocurrency.

What is a stateless Blockchain/Ledger/Cryptocurrency?
To put it simply, a stateless blockchain allows full-nodes to validate transactions without storing past blocks or unspent transaction outputs. This is done by employing an incredible cryptographic construct known as a cryptographic accumulator. While Bitcoin can theoretically scale by increasing the block size, it would eliminate the ability of regular folks to run a node. This improvement basically allows big blocks sizes while still allowing regular folks to run a node. This also means several things:

• The initial sync to the network is more or less instant, regardless of the chain size. Further syncs are an order of magnitude faster, taking possibly seconds at most. We still have to test this but it seems really fast.
• Transaction validation first and foremost becomes more efficient because we don't need to search the disk for UTXOs as we only check the accumulator, which lives in memory. Memory is orders of magnitude faster than disk, which is the main bottleneck in Bitcoin.
• Users are responsible for storing their own UTXOs in their wallet. Besides these, a full validating node can run while storing only a few kilobytes of data. This means a full-node does not in fact need a disk to run at all.

Scalability through sharded Proof of Work
There are 16 chains, called sector chains, each representing a group of 16 shards, with a total of 256 shards. Each shard is an independent blockchain and can be processed separately along with the respective sector chain. Transactions are only possible within the same shard. The XPU token is mined therefore on different, independently running chains. As such the tps is equal to the sum of the tps of all chains. Our calculations at a block size of 380kb resulted in 14222 transactions per second assuming they are simple transfers and not complex transactions. As Purplecoin is stateless, the storage size of full-nodes doesn't increase and only relevant assets are kept.

More details about the consensus algorithm: https://github.com/purpleprotocol/purplecoin/blob/main/doc/consensus.md

Mining algorithm which consumes 50% less energy
We are using the Green PoW consensus model which elapses in epochs. Each epoch has 2 rounds. In the first round, every miner participates and has the potential to mine a block. The miner who finds the solution in the first round is not entitled to participate in the second round. Then, the rest of the miners continue mining the block in the first round. When at least 15 miners manage to mine the block, the second round begins. These miners are called runner-ups. Only runner-ups are entitled to mine the block in the second round. Once one of the runner-ups mines the second round block, the next epoch begins. This mechanism brings energy efficiency to mining (up to 50% compared to if it wasn't employed) and secures shard sectors against 51% attacks. More details around this can be found in the Whitepaper.

Now, every epoch will use a different algorithm. Half of the epochs will be mined exclusively with GhostRider, in order to prevent ASICs from mining a longer chain while allowing CPU/GPU mining. The other half of the epochs will be mined with an ASIC friendly algorithm, chosen randomly every epoch. This is in order to balance GhostRider, as fully ASIC resistant algorithms are subject to hashpower marketplace attacks, while ASIC algorithms are less likely to be subject to these attacks.

Example:

• Epoch 1: GhostRider
• Epoch 2: Sha256
• Epoch 3: GhostRider
• Epoch 4: Fugue

The following are the current proposed ASIC friendly algorithms:

• Blake2s256
• Blake2b512
• Sha256
• Keccak256
• JH
• Fugue

Find out more about mining: https://github.com/purpleprotocol/purplecoin/blob/main/doc/mining.md

Tokenomics and crowdsale
Find more info here:

Crowdsale info: https://github.com/purpleprotocol/purplecoin/blob/main/doc/crowdsale.md
Tokenomics: https://github.com/purpleprotocol/purplecoin/blob/main/doc/tokenomics.md

Links

• Whitepaper: https://github.com/purpleprotocol/purplecoin_whitepaper/blob/main/whitepaper.pdf
• Vision: https://github.com/purpleprotocol/purplecoin/blob/main/doc/vision.md
• Crowdsale website: https://sale.purplecoin.io
• README: https://github.com/purpleprotocol/purplecoin/blob/main/README.md
• Technical Roadmap: https://github.com/purpleprotocol/purplecoin-core/blob/main/ROADMAP.md
• Contributing: https://github.com/purpleprotocol/purplecoin/blob/main/doc/contributing.md
• Website: https://purplecoin.io
• Sale: https://sale.purplecoin.io
• Github: https://github.com/purpleprotocol
• Discord: https://discord.gg/5ZVZnKd
• Reddit: https://www.reddit.com/r/purplecoin
• Twitter: https://twitter.com/xpu_official
• Medium: https://medium.com/@octavianonce
• Telegram: https://t.me/purplecoin_io
• Merch: https://merch.purplecoin.io/

14222 transactions per second, that's more than half of VISA's TPS. Has this been tested and confirmed? Or is it just a prediction of what might be?

It is based on the calculations we have on the chosen parameters such as block size and shard numbers. We have indeed tested the architecture, but not on a live network. While the number can vary as custom transactions can be bigger, it gives a rough estimate when the bulk of transactions are the default format, which from what we can see with other networks seems to be the case 98% of the time.

Block size is actually smaller than Bitcoin, at 750kb. Sharding multiplies that by the number of shards which stands at 256. Nodes can listen to all shards or individual shards, depending on bandwidth. A full-node is also able to run as a cluster, with individual nodes listening to individual shards, this is useful for archival nodes, being able to scale bandwidth and storage. SPV nodes are able to sync all shards a few times per day, without requiring to download the whole backlog of transactions.

Update: Thanks to @noventrun#2672 from our Discord channel, we have chosen to change Whirlpool and Groestl to Fugue and JH as the former are vulnerable to Rebound attacks.

Update: I have just published the source code along with the technical roadmap. As such, the project is officially open to external contributors.

These can both be found on our Github page:

• Roadmap: https://github.com/purpleprotocol/purplecoin-core/blob/main/ROADMAP.md
• Source Code: https://github.com/purpleprotocol/purplecoin-core

CryptoNight should not be forgotten :)

When we can mine it?

Yes, Criptonight could be a good solution, too

We are still pre-testnet at this point. Mining will be first available on the testnet and on the mainnet once we release.

can you please explain how to compile to test

or a link to...how to build.
story that this kind of "paranormal and extraterrestrial" thing is open to everyone, even to beginners... thank you.


I feel like I'm trying to decipher Egyptian hieroglyphics... ??? :o ;D ;D

You need nightly Rust installed and clang/llvm on linux and on Windows this has to be compiled with msys.


We will post a guide soon with detailed instructions.

Looks very promising. When will it be ready for mining?

We are still pre-testnet at this point. Mining will be first available on the testnet and once we are confident in the security and performance of the network, we will release the mainnet.

Update: I have just posted a document detailing the tokenomics of Purplecoin: https://github.com/purpleprotocol/purplecoin/blob/main/doc/tokenomics.md

As we have been getting a lot of questions about our choice of tokenomics, which is dependant on Purplecoin's architecture. I have posted two other documents detailing the consensus mechanism and mining procedure. This should bring more understanding both to how Purplecoin works and our choice of tokenomics:
* Mining: https://github.com/purpleprotocol/purplecoin/blob/main/doc/mining.md
* Consensus: https://github.com/purpleprotocol/purplecoin/blob/main/doc/consensus.md

Just published another doc with information about our state model and more explanations on what a stateless blockchain is: https://github.com/purpleprotocol/purplecoin/blob/main/doc/state.md

We have been working hard for the past weeks to get the crowdsale website up and running and we would like to announce that the Purplecoin crowdsale officially starts now. In order to participate, visit one of the following links:
* Sale website: https://sale.purplecoin.io/
* Sale details: https://github.com/purpleprotocol/purplecoin/blob/main/doc/crowdsale.md
* Sale Agreement: https://purplecoin.io/tsa

I've never heard of Pink-coin

Definitely not the pink coin team.
But I said the same on their discord -> they have to rebrand now.

This won't really matter in the long-run

More information: https://github.com/purpleprotocol/purplecoin/blob/main/README.md

We now have an official Telegram channel: https://t.me/purplecoin_io

For more explanations, follow me on Twitter: https://twitter.com/octavianonce

How chain-sync works in Purplecoin: https://twitter.com/octavianonce/status/1626192607398318081?s=46&t=XUt5ykkR4Rq__GhAy1Tx0g

What you can do with Purplecoin in a nutshell: https://twitter.com/octavianonce/status/1626679436325052416?s=20

Purplecoin and the Internet of Assets: https://twitter.com/octavianonce/status/1627584461503188993?s=46&t=vQ-Cr_qrF780Me7Yi2D3Tw

The metachain: https://twitter.com/octavianonce/status/1627635221716692992

We have updated the crowdsale rate according to market fluctuations and 1 ETH = 7200 XPU now

More info on the crowdsale: https://twitter.com/octavianonce/status/1629083428627836928

How a DEX works in Purplecoin: https://twitter.com/octavianonce/status/1629479917917274112?s=20

How Purplecoin enables trading any asset directly from the wallet: https://twitter.com/octavianonce/status/1630640023086219274?s=20

How Purplecoin can enable payments in remote regions of the world: https://twitter.com/octavianonce/status/1631695401077166082

What you can do with Purplecoin: https://twitter.com/octavianonce/status/1632137560095875073

That's around 21 cents per XPU. Max supply is is 2.38 billion tokens. So you are valuing your project at $500m (fully dilutted market cap). This is not a joke, right?

2.38 billion tokens will be the supply after 80 years of operation. At launch the circulating supply will be around 119m. What depends post-launch is the demand and growth rate of the coin/platform in terms of evaluation coupled with the current supply. As the scope for this is to be used as the first blockchain in commercial transactions at scale (among others), the growth rate is entirely feasible.

How transactions work in Purplecoin: https://twitter.com/octavianonce/status/1633441885728505857

Check out the contribution guideline if you wish to participate to the project: https://github.com/purpleprotocol/purplecoin/blob/main/doc/contributing.md

Purplecoin can serve as the backend for our digital payment infrastructure. Read how in the vision document I've just published: https://github.com/purpleprotocol/purplecoin/blob/main/doc/vision.md

We have updated the crowdsale rate. The new rate is 1 ETH = 7800 XPU

I checked all the links you provided and there is literally nothing here...

Just a set of fairy tales about "how good will the project be in the future"...

Is this a joke ?

Maybe first start a working project and then go on bitcointalk to advertise it...

https://github.com/purpleprotocol (https://github.com/purpleprotocol)

Once again:  Is there a working product anywhere here ?  I mean a client/node software that average person can run on average Windows PC.

You can run it, but it is still in alpha. Testnet will be running in the next few months. I'm not in the habit of listening to random people on Bitcointalk on what I should advertise or not advertise.

Take care of nature, stop mining PoW

I agree, unfortunately PoW is the only consensus algorithm that is fully secure and decentralised. We use Green PoW to reduce electricity consumption to 50%. And miners usually use renewable energy sources anyway as they are looking to cut costs.

So currently even a testnet wasn't started ?  But you are trying projecting the price right on that stage of development...  OK.

Next one please ...

As I said before, the testnet is very close, and the architecture has been tested locally and benchmarked before posting, and then peer reviewed with no security holes found. As there is nothing experimental left to implement and it is simply a matter of time/funds, I think it is reasonable that we post this on Bitcointalk.

We have updated the crowdsale contract with the following changes:
* The minimum buy has been reduced to 0.01 ETH
* We have created the dev fund (0.5% of the supply) which will be used to reward early contributors

How XPU is more than a simple store of value: https://twitter.com/octavianonce/status/1637233085929381888?s=20

How spending assets works in XPU: https://twitter.com/octavianonce/status/1638297310701531136?s=46&t=AroQHj5KMKXnZykiZmX5hw

Learn more about stateless blockchains and XPU: https://medium.com/@octavian.once/what-is-a-stateless-blockchain-and-what-is-purplecoin-xpu-4fa14ae83647

The reasoning behind the Purplecoin/XPU crowdsale: https://medium.com/@octavianonce/the-reasoning-behind-the-purplecoin-xpu-crowdsale-3c95765a4836

"A fair launch was the initial plan behind XPU. The problem with a fair launch is that we do not have any funds to bootstrap and test the network in the initial phase"

So why you even start anything if don't have enough funds to continue ?

Only a total moron will buy your story...

We can launch everything without funding, but it will take way longer. And it will be less usable in the long-term. And it won't reach global adoption as fast. I guess time will tell if "only a total moron will buy your story".   

So the mining emmisions are 737280 xpu per day for the first 4 years. The best presale price is around $0.22 per xpu. If we take that price we would have $162k emissons a day! Thats 60 millionn dollars a year. Good luck with that. Overpriced af.

$162k for all chains. With 16 chains that would be $10,125 per day for each chain. Moreover, CPUs can only mine half of the blocks and ASICs the other half, so that would be $5,062 per type of hardware per day, per chain.

I don't see how that is a lot, as this can process an average of 1,036,800,000 transactions per day. It would be a lot for a Bitcoin or Dogecoin clone though.

Explaining the Purplecoin/XPU mining and emission mechanism and how it uses 50% less energy: https://medium.com/@octavianonce/explaining-the-purplecoin-xpu-mining-and-emission-mechanism-and-how-it-uses-50-less-energy-c100093124f4

He is looking for suckers and complete noobs ... Even if he find few it will be profitable for him.

I'll post here what I just posted on our Discord. If you want to use blockchains which are only used by a few nerds and the miners, go ahead. I believe this is priced correctly.

https://ibb.co/Q6ZNbjr (https://ibb.co/Q6ZNbjr)
https://i.ibb.co/sWJtRbL/Screenshot-2023-03-24-at-03-59-38.png (https://ibb.co/DrgLWz3)

So, in case you don't understand what Alan (not you, Alan from the screenshots) is saying is that with this you can have VPPs or virtual power plants:

VPPs are networks of small energy-producing or storage devices, like solar panels and batteries, that are pooled together to serve the electricity grid. With their participants' approval, their energy can be tapped by utilities during times of high demand, or can be reserved for later use.

As Purplecoin can be embedded in hardware (since you can run it with no disk and less than 100mb of RAM), it can function as a ledger for all of these micro-transactions.

And this is one of the use-cases.

How XPU can support 112m PlayStation players: https://twitter.com/octavianonce/status/1640325630884544512?s=20

XPU wallet sneak peek: https://twitter.com/octavianonce/status/1641125013515386906

How XPU can bring in capital to the whole blockchain ecosystem: https://twitter.com/octavianonce/status/1641458672596398081

We have a new official Twitter page as the last one was banned for unknown reasons. Follow us here: https://twitter.com/xpu_official

We have updated the crowdsale rate, 1 ETH = 13500 XPU during the pre-sale phase. Buy them here: http://sale.purplecoin.io/

Still seeking for suckers ?  Didn't you noticed you are writing only  to yourself here.

Scam is an art and you clearly don't understand it. Nobody will buy your shitcoin. You are few years late.

If I wanted to scam people, I could have done it in 2017, without KYC verification, and without an established company in a first-tier jurisdiction, and without showing my face and real name on the internet. I always said that I will not launch something unless it is worth launching. And this is.

You can say whatever you want. I understand the scam aversion, but please give informed and constructive opinions instead of shouting "scam". I fully agree with you in most of the cases, but what you are writing here shows me that you haven't even read anything I posted except "We are hosting a crowdsale".

This is a new breed of blockchains. Like how the jet engine brought a new breed of planes. Stateless blockchains have been theorised before, but never implemented. Feel free to inform yourself.

I also thought about hosting a crowdsale 500 times before doing it. The reason is: there is no other alternative. A fair launch is incompatible with this. Otherwise that would have been the plan.

Also, why would I spend 5+ years writing code 12 hours per day in the weekend and however much else I had left during work-days, without getting paid, if I wanted to scam people? Don't believe me? Inform yourself, look at the github.

I'm literally not getting hired and relying on my family to support me, right now, because I have this public on my profile. I could make at least 300k per year with my skill-set. And people like you, who are too lazy to read, shout at me "scammer". No one who has actually read what I've posted thinks I'm a scammer.

Of course, there is the alternative that you are simply a hater. In which case, please go away.

I'm not responding to any other "scammer" posts after this one as it is a waste of time.

FYI: https://twitter.com/octavianonce/status/1648744913385734144/photo/1

I have just added a new opcode to the VM specification which allows long-running computations on the blockchain to a specific limit. These are smart contracts/spending scripts which execute over the span of several blocks and represents a new way of handling the halting problem in blockchains:

Taken from the Technical Roadmap:
OP 0x05 Suspend - Suspends execution of the VM and creates an opaque output with the hash of the current execution state i.e. stack frame + input_stack + output_stack. This output can be respent to resume execution by anyone who includes it in a new transaction along with another input to pay the transaction fees. The VM must be started with special flags to resume the execution of the opaque output which must receive as arguments in the new transaction the following things: the original spending script, and the VM state binary blob.

Also taken from the Technical Roadmap:
With a limit on suspends, nodes can execute the whole chain of transactions and pre-validate them in order to determine if they will all execute whenever they receive a transaction which hits the Suspend opcode. By placing the correct upper bound on suspendable transactions, we can run long computations on the blockchain while also mitigating DDOS vectors in the mempool. The idea is that on the first transaction in a chain of these, the whole computation would be run up to either the number of suspends or the limit on suspends to validate the whole chain. Further transactions wouldn't require validating the whole chain as the VM state proves it was validated via a sequence number included in the vm state binary blob via consensus.

The optimal suspend limit parameter must still be determined by network tests.

A short summary on XPU: https://twitter.com/octavianonce/status/1655297081504825348?s=20

How Virtual Power Plants would work with XPU: https://twitter.com/octavianonce/status/1657038421309702149?s=20

Addresses in XPU: https://twitter.com/octavianonce/status/1658880977110802432?s=20

Following an assessment of the remaining tasks, we estimate the following:
* Testnet launch: August 2023
* Mainnet launch: January 2024

What does "stateless" and "stateful" mean: https://twitter.com/octavianonce/status/1661749957999853586?s=20

Stateful vs stateless blockchains pros and cons: https://twitter.com/octavianonce/status/1662886412541149186?s=20

We have a new website! https://purplecoin.io/

We have updated the crowdsale rate, 1 ETH = 21000 XPU during the pre-sale phase.

Why XPU will not be considered a security according to the SEC: https://twitter.com/octavianonce/status/1667478700638568448?s=20

Of course it's a security, you have ICO that instantly makes it a security that you are selling right now to people without an available project on hand, then you have pre-mine that is not distributed via PoW making it a double security.
Atm you can even rug anyone on the ICO since the project is not live and not even done. 

Having a pre-mine doesn't necessarily mean it is a security. What makes a token a security is if it gives ownership rights to a certain enterprise or if it promises returns to holders, for example staking. XPU doesn't offer returns or voting rights to governance. In fact, not even the foundation which will be incorporate with the sale funds will govern the project, it will rather be responsible on sponsoring and developing the ecosystem. Changes to the protocol will be agreed to by the p2p layer in a decentralised manner exactly like in Bitcoin. 

The sale is closer to selling cloud credits before deploying a public cloud. Except in this case, they are "blockchain credits" and the blockchain won't be controlled by anyone.

I've actually just posted about this:
https://twitter.com/octavianonce/status/1668659963349151754

Pre-sale IS a promise of ROI. Otherwise, why would anyone buy a pre-sale that will go down 10x on launch? Or I'm missing the basic math here again?

A presale can be made with a promise of ROI. We have made no such promise. We are simply selling part of the tokens prior to launch as a way to potentially fund, and speed up the development of the ecosystem along with offering a way for people to get their hands on it without requiring to mine. The tokens are used to pay transaction fees. If it goes up or down is related to how much the blockchain itself is used or not in the future.

This is related to future user growth, how many other assets are implemented on top, and is not promised to happen.

How XPU can run in a browser: https://twitter.com/octavianonce/status/1669085160313069568?s=20

We have updated the crowdsale rate, 1 ETH = 12000 XPU during the pre-sale phase. We will also be closing the sale on the 1st of August at 12pm GMT. Any unsold XPU will be burnt. More info on how XPU is moved from the ETH blockchain to the Purplecoin blockchain coming soon.

AresMiner is malware.  It is posted in pretty much every thread now.  Don't download it.

The crowdsale is now ended. We have renounced ownership of the crowdsale contract and authorisations will no longer be possible from this moment forward. If you have participated there is nothing you have to do to transfer your coins. In order to avoid gas fees and to avoid depending on the Ethereum chain, all purchased coins will be available directly on the mainnet and will be spendable using the ETH key you have used to purchase the coins. Both private keys and hardware wallets will be able to redeem the coins. Instructions on how to redeem them will be available directly in the wallet at launch.

Understanding shards in XPU: https://twitter.com/octavianonce/status/1693347316697010402?s=20

How to send a $100 bill through the XPU blockchain instead of through the post: https://twitter.com/octavianonce/status/1699930051804823785?s=20