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Title: [MNet][XMC] Payment Protocol | Wallet Testers Pre-recruitment | Update: 22 Dec. Post by: Fathedin on November 30, 2014, 01:16:26 PM https://i.imgur.com/tsGlDTI.png Munita Network | MunitaCoin https://i.imgur.com/tsGlDTI.png [ Introduction (#post_mnet_intro) | News (#post_mnet_news) | Contacts (#post_mnet_contacts) | About MNet (#post_mnet_about) | Network Specifications (#post_mnet_specs) | Roadmap (#post_mnet_roadmap) | Documentation (#post_mnet_docs) | Recruitment (#post_mnet_recruit) | Bounties (#post_mnet_bounties) | Distribution (#post_mnet_distrib) | Promotion (#post_mnet_promotion) | Pictures (#post_mnet_pictures) | FAQS (#post_mnet_faqs) ] https://i.imgur.com/BmjIF4e.png INTRODUCTION MunitaNet (MNet) is a new payment protocol and the first to use the "Proof-of-Existence" (PoE) technology. Build from scratch, this future tech. reveal a new horizon for 2015 and compete against the PoW and PoS. The development is still under progress, a lot of work, and communication has still to be done. Something is unclear, you have a question, or you want to support the project ? Just leave a message here or follow on twitter ! https://i.imgur.com/BmXLDN7.png (https://twitter.com/MunitaNet) https://i.imgur.com/FCncSIQ.png (http://www.reddit.com/r/munitanet/) https://i.imgur.com/9ZS3myv.png (https://cryptocointalk.com/topic/24490-no-date-munita-network-a-new-payment-protocol-build-from-scratch-supporting-sidecoins-instant-tx/) https://i.imgur.com/fC0gBKp.png NEWS [22 Dec. 2014] OP reworks: Added the menus Bounties (#post_mnet_bounties), Distribution (#post_mnet_distrib), FAQS (#post_mnet_faqs) & Documentation (#post_mnet_docs). Opened the Reddit page on: http://www.reddit.com/r/munitanet/. [18 Dec. 2014] Discover how to create your Sidecoin with MNet (https://bitcointalk.org/index.php?topic=878406.msg9881693#msg9881693). [15 Dec. 2014] More pictures (#post_mnet_pictures) of the wallet. [13 Dec. 2014] I'm pre-recruiting testers for the wallet. Bounties pending (more details on Recruitment (#post_mnet_recruit)). [12 Dec. 2014] An other OP rework [11 Dec. 2014] Wallet introduction (https://bitcointalk.org/index.php?topic=878406.msg9807329#msg9807329) [04 Dec. 2014] OP rework < Back to the top > (#post_mnet_top) https://i.imgur.com/fC0gBKp.png CONTACTS Website: work in progress EMail: munitanet@gmail.com Twitter: https://twitter.com/MunitaNet Reddit: http://www.reddit.com/r/munitanet/ CryptocoinTalk: https://cryptocointalk.com/topic/[...] (https://cryptocointalk.com/topic/24490-no-date-munita-network-a-new-payment-protocol-build-from-scratch-supporting-sidecoins-instant-tx/) < Back to the top > (#post_mnet_top) https://i.imgur.com/fC0gBKp.png ABOUT MNET MNet is a decentralized payment protocol using the "Proof-of-Existence" technology to handle transactions and build the block chain. The MunitaCoin (XMC) is the main coin of this protocol. The PoE is unique and is going to be a competitor to the PoW and PoS since it open new possibilities. The MNet objective is mainly to propagate faster the cryptocurrencies across the Internet, with a new approach for the Webmasters adoption, more conveniences for the Users and an high flexibility for the Developers. A lots of Webmasters are not adopting the cryptocurrencies into their website because every altcoin, and even Bitcoin, require a core running on your server (bitcoind, altcoind, ...). It's a big issue, 95% of them are paying for a simple webhosting solution, and don't want to bother with a VPS or dedicated server. MNet is resolving the Webmasters adoption: you have no core to run. You can communicate and interact on the network with few lines of Javascript, PHP, or any other language that can send and receive in a JSON format. The Developers will enjoy working with MNet too ! Including the protocol into your iOS game, Android app, ... is easier and faster. At the moment it's a pain to accept a Bitcoin payment on your game or to create an Altcoin app without involving a 3rd party. Only a few did it open-source, ...and are copied by the others. Possibilities are infinite unless you don't know how to communicate with an external server. The release is going to be a demonstration of strength: MNet is "Sidechainable", every User is free to create a Sidecoin/Asset on the network. For the first time, a protocol support this feature with no special tricks. All transactions are -almost- instant, thanks to the PoE. We also want a strong open-source wallet, making your coins management easy: coldstorage, block chain explorer, network overview, sidecoins creation, encryption, pin code protection, cross-OS compatible, no block chain download (like Electrum with Bitcoin), ... ...and more will come like a built-in faucet, dice, exchange and chat. < Back to the top > (#post_mnet_top) https://i.imgur.com/fC0gBKp.png NETWORK SPECIFICATIONS MunitaCoin Short name: XMC XMC Maximum supplies: 1.000.000 XMC Transaction fee: 0.00001000 XMC Transaction speed: 15s to 1min Proof-of-Existence The PoE is a green algorithm that require no mining nor staking. The Oracles are a kind of miners; instead of resolving a puzzle they will create a block by checking your coins until the genesis (or until a checkpoint), confirming/validating their existence and their position. Basically and without any technical details, an Oracle is just checking the ledger, and sharing his/her finds with the others. Once the majority of the Oracles on the network are agree to say that a transaction is legit, it's print in a block forever. Network entities The Users, the Gates and the Oracles. Unlike the others decentralized digital money, all the entities are not peer-to-peer connected: the Users need no interactions with the other Users. The privacy is very high, most of the time an User will only connect to a Gate. The Gates and Oracles are securing the network. Oracles are "resolving" the transactions, while the Gates are answering to the Users queries. The protocol can work without the Gates, they are mostly here to keep safe the Users privacy and to lighten the Oracles by reducing the load. All Gates and all Oracles are peer-to-peer and sharing a similar code (with NodeJS) and the same block chain. < Back to the top > (#post_mnet_top) https://i.imgur.com/fC0gBKp.png DEVELOPMENT ROADMAP The development is still going, we have no release date at the moment. However we will start the run through the following steps. A. Promotion and Recruitment period We are here. I'm promoting the protocol and recruiting Gates, Oracles and testers. B. Release deployment period 1. Day 0: Wallet open-source for the testers, Oracle/Gate server closed source (= compressed JS) for the early volunteers. 2. Day 2: Wallet open-source for all, Heavy recruitment of Oracles & Gates to get a solid network, Starting with the XMC distribution. 3. Day 16: Oracle/Gate server closed source for all. 4. Day 23: Oracle/Gate server open source for all. C. Improving the wallet & protocol The objective of this period is to create the most comfortable wallet for the users and the best API for the developpers. Should be included in the wallet:
Additional API are expected, depending of the need. D. MNet/XMC Adoption & Goodies This period is to push aggressively the adoption: exchanges, merchants, websites, games, ... Goodies will come along: cards, paper wallets, stamps, etc... (<= only example) < Back to the top > (#post_mnet_top) https://i.imgur.com/fC0gBKp.png DOCUMENTATION Full protocol description (#post_mnet_prodesc) < Back to the top > (#post_mnet_top) https://i.imgur.com/fC0gBKp.png RECRUITMENT Wallet testers I need testers for the wallet release day (roadmap B1). I'll grant 10 XMC to each, so you can try all features while keeping an extra for yourself. There is a bounty for every bug found, between 1-10XMC depending of the bug's severity. Right now, I'm looking for 20 testers maximum. The XMC you'll earn during this period are real. Oracles / Gates I'm already looking for the firsts Oracles and Gates (roadmap B1). I need peoples:
< Back to the top > (#post_mnet_top) https://i.imgur.com/fC0gBKp.png BOUNTIES The bounties will be delivered only on the protocol release (roadmap B1).
< Back to the top > (#post_mnet_top) https://i.imgur.com/fC0gBKp.png DISTRIBUTION The XMC distribution start on the roadmap B2. This is still a prototype, but it should happen this way. You'll be updated. On 1 Million XMC:
The Staking simulation During 20 days (starting on roadmap B2), your coins will stake. Technically your coins won't really staking, it's only a simulation to make the distribution more attractive. Every hours, a fixed amount of 500 XMC will be distributed to all existing addresses who hold XMC. The more you have on your address, the more you get. The maths are easy: If 100.000 XMC has been sold, and you own 1.000, you have 1%. So your stake will be 1% of 500 XMC (= 5). The stake will trigger only 490 times (490 * 500 = 245.000 XMC, 490 / 24 = 20.4 days). All the unsold coins are not staking. ICO The price per unit is set on 0.00012500 BTC, which is a very low price for a coin with only 1M units. Keeping the bar low is mandatory to make the coin accessible for all, and to make sure that the coin will be profitable to the initial investors. A big part of this money will be used in the value increases, the other part will deserve to pay services/devs and help the MNet to grow. The ICO will last until all coins are sold. However, the staking is only for 20 days. Transparency Every single transaction will be registered into a spreadsheet, open to all. < Back to the top > (#post_mnet_top) https://i.imgur.com/fC0gBKp.png PROMOTION Vote for us on AskCoin.net: https://askcoin.net/votes < Back to the top > (#post_mnet_top) https://i.imgur.com/fC0gBKp.png PICTURES (click to enlarge) https://i.imgur.com/P7kDrws.png (https://i.imgur.com/qSXjXPN.png) https://i.imgur.com/30pqG5P.png (https://i.imgur.com/1fMiRua.png) https://i.imgur.com/rgfHUDP.png (https://i.imgur.com/gTWQRRs.png) https://i.imgur.com/g1gPkS0.png (https://i.imgur.com/AP4oSdF.png) https://i.imgur.com/EUgraPc.png (https://i.imgur.com/3rCjlfl.png) https://i.imgur.com/ahJgfTZ.png (https://i.imgur.com/UZKPlHG.png) https://i.imgur.com/BDwOsNN.png (https://i.imgur.com/8taZEbj.png) < Back to the top > (#post_mnet_top) https://i.imgur.com/fC0gBKp.png FAQS How can I contribute for the release ? Any bounties ? I'm researching peoples who willing to be Gate/Oracle or Wallet tester. You can contribute to the project by being one of them, and by speaking about MNet around you. Following on Twitter (@MunitaNet) helps too. The bounty for the wallet testers is 10 XMC + an extra for every bugs found. Gates and Oracles will share all the transactions fee. Unlike mining, running a server is not consuming a lot of electricity. You'll probably grab more fees by starting this early. I would to be a Gate or an Oracle, which is better ? In term of profit, the both should be alright. The Gates profit is smaller but they work on more transactions, more sidecoins creations. As the Gates & Oracles are sharing the same code, you can switch anytime. But switching mean that you'll need to be accepted again by the network. With a good bandwidth, you can go Gate, because you'll receive a lot of user's queries. A small example of an Oracle profit: Let's say today you validated 250 transactions and 3 sidecoins creations (1.000.000 units per sidecoins). Transactions earnings: (250 * 0.00001000) * 75% = 0.001875 XMC Sidecoins earnings: (3 * 10) * 75% = 22.5 XMC < Back to the top > (#post_mnet_top) https://i.imgur.com/fC0gBKp.png FULL PROTOCOL DESCRIPTION [ Proof-of-Existance (#post_mnetp_1) | MunitaCoin (XMC) (#post_mnetp_2) | Network Structure (#post_mnetp_3) | Wallet (#post_mnetp_4) | Sidecoins (#post_mnetp_5) | Chain-of-Peoples (#post_mnetp_6) | Oracles (#post_mnetp_7) | Gates (#post_mnetp_8) | Users (#post_mnetp_9) | Transactions chain (#post_mnetp_10) | Keys & Digital Signatures (#post_mnetp_11) ] https://i.imgur.com/a2gsGle.png 1. Proof-of-Existence (PoE) The protocol use a PoE algorithm to secure the transactions. It's a certification that you coins exists and come from the genesis. The PoW/PoS force peoples to enter in a competition, where every actor need to 'solve a puzzle' to create a new block and earn money. The PoE is not a competition but a trip from the genesis (or checkpoints) to your transaction. This allow the transaction speed to be -almost- instant (between 15s and 1min). This process is green and consume few resources. To be short, it's working this way: if the network's majority (+51%) confirm a transaction, it's print on the Chain so the transaction is successful and done. < Back to the Protocol Desc. > (#post_mnet_prodesc) < Back to the top > (#post_mnet_top) 2. The MunitaCoin (XMC) The XMC is the main coin of the network. More coins can be created through the Sidecoins feature (details following) ! 1.000.000 XMC (1 Million, divisible to 8 decimals) exists. This value will never change, no more will be generated or burned in any way. The PoE imply that all the coins must be created on the genesis transaction, this process is not reversible. The transaction fee is set to 0.00001000 XMC, the fee deserve to feed the peoples who are securing the network. < Back to the Protocol Desc. > (#post_mnet_prodesc) < Back to the top > (#post_mnet_top) 3. The Network Structure 3 entities constitute the network:
Unlike the others decentralized digital money, all the entities are not peer-to-peer connected: the Users need no interactions with the other Users. The privacy is very high. They are well deserved and don't need to store the transactions chain on the computer, to setup nodes, or to keep the wallet open. They just send|receive transactions, manage and secure their wallet. Your hard drive space is safe ! The Oracles are like the Bitcoin miners, they works to secure the network, to achieve the transactions. They validate & verify transactions though the PoE algorithm, plus they make sure that the network is safe with the Chain-of-Peoples (details following). Between the Oracles and the Users: the Gates. Like the Oracles, the Gates securing the network with the CoP, but they aren't resolving any transactions. Instead they lighten the Oracles stains by answering to the Users queries. The protocol can work without the Gates, but the reduce a lot the network load, they also add extra privacy to the users. Usually the Users will communicate exclusively with the Gates. All Gates and all Oracles are peer-to-peer and sharing a similar code (with NodeJS) and the same chain. < Back to the Protocol Desc. > (#post_mnet_prodesc) < Back to the top > (#post_mnet_top) 4. The Wallet The particularity of the wallet is that you don't need to download the Chain nor run a core server (bitcoind, thiscoind, ...), the Gates/Oracles provide all the informations and manage queries. It's very handy for the developers, you don't need a special web-server (VPS, dedicated, ...) to join the network. You could program your XMCDice game on a simple $1/month (or free ?) web-hoster. I'm developing the official wallet with HTML and Javascript. We don't need more, and that will provide a lot of advantages compared to a C wallet. However, any dev can create a wallet, or interact with the chain with an other language. My wallet include some nice features:
< Back to the Protocol Desc. > (#post_mnet_prodesc) < Back to the top > (#post_mnet_top) 5. The Sidecoins MNet support the Sidecoins, any user can create an altcoin on the Chain. Technically, when you send this request to the network, a new genesis is generated, which is the begin of your Chain. To avoid an overflow of altcoins, the creation isn't free. This tax is given to the Gates and Oracles. The price is now set to 1 XMC per 100000 units of your coin. The minimum input is 1 XMC, you can't make an altcoin with 0.99 XMC. So an altcoin with 498871 units will cost 4.98871 XMC. The Sidecoins sharing the same XMC rules: once created, no more will be ever generated or burned, this amount remain the same... forever. < Back to the Protocol Desc. > (#post_mnet_prodesc) < Back to the top > (#post_mnet_top) 6. The Chain-of-Peoples We can say that the protocol have 2 Chains: the Transactions Chain and the Chain-of-Peoples. The Chain-of-Peoples is an extra security. When someone want to become an Oracle or a Gate, he need to be accepted by the majority of Oracles and Gates. The CoP is a peer-to-peer ledger that provide -a kind of- list of all the Oracles and Gates decisions regarding your integration into the network. When an Oracle resolve a transaction, he is sharing it with all the other Oracles for a verification (details following). As soon as the majority of the MNet accept to work with you (= you're sending valid PoE results), you are legit on the CoP: you're an Oracle/Gate. For any reasons, and even if you send good PoE results, the Oracles and Gates can choice to stop or to not work with you. In this case, every communication attempt with the MNet will generate orphans. The Chain-of-Peoples is like voting. < Back to the Protocol Desc. > (#post_mnet_prodesc) < Back to the top > (#post_mnet_top) 7. The Oracles The Oracles roles are:
The MNet is decentralized: Oracles aren't gods who can manipulate the protocol and the transactions. They don't own nor can find your private keys. Transaction pickup Most of the time Oracles aren't receiving any transactions. They have to pickup them to the Gates, of course this process is automatic. On the other side you'll have to select manually your favorite Gates. An Oracle if he want, can accept to receive direct transactions from the users, or queries. The risk is an overload. Validation & verification process Once he get a transaction, he can validate it. It mean he is going to check the source of the transaction (mostly the sender's signature) and the origin of the coins (PoE). Then he propagate his result along with the elements that led to it for the verifications. A transaction is print on the Chain only if the majority of the network agree that the result is correct. Remuneration The Oracles are not in a competition. Once the transaction is verified, the transaction fees are unlocked and divided between the Gate who received the transaction and the Oracle who validated it. Trustworthy and transparency By default, if an unknown Oracle sending good results to the network, the others will accept to work with him. But they can decide otherwise. Various informations helps, and are factors of decision, to configure your Oracle server. Refusing to work with someone can be done manually with ease, or automatically depending of your configuration. If a source become insolvent, or for any other reasons, peoples of the network can eject it (auto. or manu.). < Back to the Protocol Desc. > (#post_mnet_prodesc) < Back to the top > (#post_mnet_top) 8. The Gates The Gates roles are:
Digital signature Each transaction passing through a Gate, is signed by it, so the origin of every transaction is clear. By default the Oracles aren't accepting unsigned transactions. Remuneration Picking up a pending transaction to a Gate is free. But once the transaction is confirmed, the Gate keeper receive a small amount from the transaction fee. < Back to the Protocol Desc. > (#post_mnet_prodesc) < Back to the top > (#post_mnet_top) 9. The Users The Users have no direct role on the network, except feeding Gates & Oracles with the transactions fees. They are pretty much isolated: they share no data on the background, they only connect to the Gates. Sending a query The queries are to explore the transactions chain and the CoP. You can:
Communication with the Gates/Oracles The Gates/Oracles scripts are written on NodeJS. They support receiving GET & POST JSON requests; they reply with an other JSON. < Back to the Protocol Desc. > (#post_mnet_prodesc) < Back to the top > (#post_mnet_top) 10. The Transactions Chain|Ledger A verified transaction is a block. 1 block = 1 transaction. Unlike the Blockchain, which is sequential and linear, the Tx Chain is multi-level. It begin from the genesis transaction; the XMC coins existence start from here, it's the only absolute factor of the network, everything else is relative. No more XMC will be generated, no Coins will be burned, 1.000.000 XMC are somewhere. The Oracles and the Gates share this chain, but only the Oracles build on it. All Users can send queries to get the chain data. It's the Gates job to share those data to the Users. If a Gate refuse do to it, you just have to select an other Gate. Doing this, the Gate keeper penalizing himself, because if Users switch to an other, he receive no transactions and can't earn a part of the fee. < Back to the Protocol Desc. > (#post_mnet_prodesc) < Back to the top > (#post_mnet_top) 11. Keys and digital signatures Every entities of the MNet are identified: Users, Gates & Oracles, you all have a public & private key. On the Users side, the keys are required to sign your transaction (it's the same rule for every digital currency). Like for the Bitcoin and any other altcoin, the one who catch your private key get your wallet. They Keys & signs for the Oracles & Gates are identifiers for the CoP and PoE. A public key look like: fbea360f3b92193e52aa52e9fcb1bfac943e96ffaf3dad2e8adaa6418f2dff760b9df56862e2d5a cc875b8c9a19df1a1d5e6a844d626642e215bc926aec6640b It's harsh to read, so we compress to: XMC1d2fb5a350fe200fda5ea0dc82969cb0ef0ce64f33935 Note the 'XMC1' on the begin it's the XMC identifier. A Sidecoin's creator have to select an available identifier. This combination of 4 alphanumerics is case sensitive, allowing the creation of 677039 different altcoins. A private key example: 540006d44e636f35cfd8e693f21ef061cce10000ba642346a2f9edfcb47da5b6 < Back to the Protocol Desc. > (#post_mnet_prodesc) < Back to the top > (#post_mnet_top) Title: Re: [MNet][XMC] A new payment protocol Post by: BallOOner on November 30, 2014, 02:24:31 PM WOW. i cannot believe I read all that. I didn't :D A TLDR version would be helpful Title: Re: [MNet][XMC] A new payment protocol Post by: Fathedin on November 30, 2014, 02:27:03 PM WOW. i cannot believe I read all that. Sorry for the big blob, did you understood this overview ? Quote I didn't Cheesy A TLDR version would be helpful You're right, I'll work on it. Title: Re: [MNet][XMC] A new payment protocol Post by: soronto on November 30, 2014, 03:27:33 PM In theory it looks very promising. I can't wait to see it implemented.
Title: Re: [MNet][XMC] A new payment protocol Post by: Fathedin on November 30, 2014, 03:41:31 PM Short version done.
Tell me if you think some details are missing in it. Ask your questions, softs to technicals. Title: Re: [MNet][XMC] A new payment protocol Post by: Fathedin on December 01, 2014, 03:04:24 PM Some news of the transactions fees & sidecoins (sidechains).
I want low fees on the protocol while not penalizing the Gates and Oracles. The fee is set to 0.00001000 XMC per transaction, a tx can't be sent without the fee. The Gates and Oracles (who validated up to 51%) will share it: it's a payment to them. Here the formula: (1000 = 0.00001000) gate_payment = (1000 / (oracles + 1)) / 2 oracle_payment = (1000 / (oracles + 1)) + (((1000 / (oracles + 1)) / 2) / oracles) If we have 4 Oracles, the payment will be: gate_payment = (1000 / (4 + 1)) / 2 = 100 oracle_payment = (1000 / (4 + 1)) + (((1000 / (4 + 1)) / 2 ) / 4) = 225 100 + 225 = 1000. I can now confirm that the sidecoins feature will be available for the release. At the moment a transaction with a sidecoin is fee free. Instead you'll have to pay a tax for your coin creation. This tax is an other payment for the Oracles and Gates, they share the tax as they share a tx fee. The price is set to 1 XMC per 100000 units. If you want to create a sidecoin and generate 547800 units, the price is so 5.478 XMC. Once the units are generated, it's impossible to change this value. Title: Re: [MNet][XMC] New payment protocol FromScratch|Anon|Sidecoins|InstaTX|Customizable Post by: Jean Bax on December 01, 2014, 06:58:55 PM When the coin release ?
Title: Re: [MNet][XMC] New payment protocol FromScratch|Anon|Sidecoins|InstaTX|Customizable Post by: Fathedin on December 02, 2014, 02:10:36 AM When the coin release ? I have no date for the release yet, it's going fast, but the unexpected events catch you easy. I'll keep the thread updated and work on the communication, the development is still my main target, the release have to be perfect. Stay here or follow on Twitter to be updated, I'll show screen-shots as soon as I can. Title: Re: [MNet][XMC] New payment protocol FromScratch|Anon|Sidecoins|InstaTX|Customizable Post by: earlz on December 02, 2014, 08:27:51 PM This all looks rather interesting, but how do you avoid entire network forks?
For example. My name is Bob and I want to kill the network. So, I replicate all conditions from genesis and make myself an oracle on my own private network. I DDoS the "gates" and setup my own to attempt to replace them, possibly hacking one of the existing gates to redirect to one under my control on my private network. Alice is a major user of mnet, and now she sees two versions of the network that are "correct" in their own right. How does Alice reach a consensus as to which network is legit? There are a few workarounds and none of them are good 1. Whichever network with more gates wins (IP addresses are cheap and it's easy to make a gate unavailable by DDoS) 2. You only trust the network you saw first (eventually, you'll have to do a fresh install, or if you're a new user, this still doesn't work) 3. Whichever has more transactions, activity, oracles, etc (without a time-consuming function like PoW, this is trivial to make more than the legit network) So, how exactly do you solve the consensus problem? Everytime I see one of these "we've solved every problem!" coins, they never have an actual answer to this and assume that things will just fall into line somehow Title: Re: [MNet][XMC] New payment protocol FromScratch|Anon|Sidecoins|InstaTX|Customizable Post by: Fathedin on December 03, 2014, 03:44:51 AM This all looks rather interesting, but how do you avoid entire network forks? For example. My name is Bob and I want to kill the network. So, I replicate all conditions from genesis and make myself an oracle on my own private network. I DDoS the "gates" and setup my own to attempt to replace them, possibly hacking one of the existing gates to redirect to one under my control on my private network. Alice is a major user of mnet, and now she sees two versions of the network that are "correct" in their own right. How does Alice reach a consensus as to which network is legit? There are a few workarounds and none of them are good 1. Whichever network with more gates wins (IP addresses are cheap and it's easy to make a gate unavailable by DDoS) 2. You only trust the network you saw first (eventually, you'll have to do a fresh install, or if you're a new user, this still doesn't work) 3. Whichever has more transactions, activity, oracles, etc (without a time-consuming function like PoW, this is trivial to make more than the legit network) So, how exactly do you solve the consensus problem? Everytime I see one of these "we've solved every problem!" coins, they never have an actual answer to this and assume that things will just fall into line somehow It's always a matter of power, the bigger win. Darwinism may never be solved. If the hashrate matter for the Bitcoin, here it's the size of the network. It's easier to be an Oracle or a Gate than being a miner, the MNet style is look like the Zergling on Starcraft: weaks but a lot. On the long term an attack will require to keep down a lots of servers/computers. The issue with most altcoins is that if a fork succeed, everybody fork on the new 'best chain'. It's a bit different with MNet. Let's suppose our implementation in various services is going well (exchanges, games...), even if someone create a fork, he'll have to convince all the services to run on his new network. A transaction to or from any service will not work on a fork. The Gates and Oracles are all identified (nicknames, public key, digital signs, chain of peoples), users can see them and their activity, from the past to now. It's easy for the Oracles and Users to exclude a not legit network, the information propagation is fast. Maths are involved in this algorithm, but the humans are also a big factor. That the reason pushing me to build a sane root. For many technical, and also other human reasons, if the attacker want to win, it's not by creating a new fork and shutting down the Gates, but by controlling the Oracles on the main network. Title: Re: [MNet][XMC] New payment protocol FromScratch|Anon|Sidecoins|InstaTX|Customizable Post by: tobeaj2mer01 on December 03, 2014, 05:52:35 AM Wow, side-chain, I think it's still in research phase, do you already have a solution?
Title: Re: [MNet][XMC] New payment protocol FromScratch|Anon|Sidecoins|InstaTX|Customizable Post by: Fathedin on December 03, 2014, 08:52:19 AM Wow, side-chain, I think it's still in research phase, do you already have a solution? The Sidechain is still in research stage for a blockchain based on a PoW algorithm = For this I have no solution. The system is different here due to the multi-level transaction chain and Proof-of-Existance. To be short, the existence of you coins are proven by the genesis block; the trip that lead to your transaction, is also leading to a verifiable result. That's why no funds can be created or removed from the chain: it'll be 1.000.000 XMC forever. Nevertheless you can send a request to the network to turn your transaction into a new genesis block which is the begin of your sidecoin. Title: Re: [MNet][XMC] New payment protocol FromScratch|Anon|Sidecoins|InstaTX|Customizable Post by: Fathedin on December 03, 2014, 04:12:04 PM Full OP reworks,
Title: Re: [MNet][XMC] New payment protocol FromScratch|Anon|Sidecoins|InstaTX|Customizable Post by: jokumat on December 06, 2014, 08:26:58 PM So at the beginning there will be only the dev GATE/Oracle. Everything will work at this moment - all transactions verified by single entity, no trouble here.
The dev might even add some more oracles secretely operated by him. He will just keep 51% majority with these secret oracles and everything will be seemingly OK and look somewhat decentralized and functional. ICO escrow funds will be released at this moment. After some time (when profit is maximized), everything collapses and newbie dev nowhere to find. Good scheme. I like it. Title: Re: [MNet][XMC] New payment protocol FromScratch|Anon|Sidecoins|InstaTX|Customizable Post by: Fathedin on December 06, 2014, 11:44:53 PM So at the beginning there will be only the dev GATE/Oracle. Everything will work at this moment - all transactions verified by single entity, no trouble here. The dev might even add some more oracles secretely operated by him. He will just keep 51% majority with these secret oracles and everything will be seemingly OK and look somewhat decentralized and functional. ICO escrow funds will be released at this moment. After some time (when profit is maximized), everything collapses and newbie dev nowhere to find. Good scheme. I like it. You misunderstood the release concerns, or my explanation isn't good enough. I'm looking for Oracles right now, while the development is still going. So far I'll have less than 51%; also I have no reason to keep this level, that will be impossible to maintain. I'll have only 1 Gate and 1 Oracle server, rest will be other peoples. The first step of the launch is to build a sane network and perform the live tests: who want to be Oracle need my approbation. Then, I'll make the code source live: anyone will be able to setup an Oracle or Gate server and try to join the network. I don't want to let someone or a group of persons taking the control on the release. Title: Re: [MNet][XMC] New payment protocol FromScratch|Anon|Sidecoins|InstaTX|Customizable Post by: cakir on December 06, 2014, 11:49:47 PM This project looks really interesting, I would like to be involved.
Can you send me details about files, so I can run a Oracle on a server? Title: Re: [MNet][XMC] New payment protocol FromScratch|Anon|Sidecoins|InstaTX|Customizable Post by: Fathedin on December 07, 2014, 12:29:34 AM This project looks really interesting, I would like to be involved. Can you send me details about files, so I can run a Oracle on a server? cakir, the code isn't ready yet, I'm doing a pre-recruitment. I sent you a private message. Title: Re: [MNet][XMC] New payment protocol FromScratch|Anon|Sidecoins|InstaTX|Customizable Post by: askcoin2 on December 07, 2014, 12:31:28 AM Quite interesting protocol... Let's see if it is popular.
Title: Re: [MNet][XMC] New payment protocol FromScratch|Anon|Sidecoins|InstaTX|Customizable Post by: Fathedin on December 08, 2014, 12:25:30 PM Some quick news of the development progression,
Both Oracle and Gate codes are almost finalized, the main parts leaving are the API and the GUI. The Wallet is on the road, I should publish some pictures soon. I didn't started the MNet website yet. I'll do an open beta on the firsts days of the release. I'll giveaway some coins, so you can try the wallet, and I'll set bounties for the bugs reporters. I'm here for any questions. Title: Re: [MNet][XMC] New payment protocol FromScratch|Anon|Sidecoins|InstaTX|Customizable Post by: cwrmyy888 on December 08, 2014, 01:01:56 PM The release date？ So download a wallet? POW？ POS？ IPO？ Title: Re: [MNet][XMC] New payment protocol FromScratch|Anon|Sidecoins|InstaTX|Customizable Post by: Fathedin on December 09, 2014, 08:02:11 AM The release date？ So download a wallet? POW？ POS？ IPO？ Everything is in the OP. No release date, Still in dev, PoE, Distribution undecided, no sales before any release anyway. Title: Re: [MNet][XMC] New payment protocol FromScratch|Anon|Sidecoins|InstaTX|Customizable Post by: Fathedin on December 11, 2014, 02:16:15 PM Let's introduce the MNet's official wallet.
I'll show the funds management part. https://i.imgur.com/P7kDrws.png (https://i.imgur.com/qSXjXPN.png) https://i.imgur.com/30pqG5P.png (https://i.imgur.com/1fMiRua.png) (click to enlarge) The design is basic, straight and responsive. You can use it from your desktop, tablet or smartphone. Some features helps you to manage your funds:
Extra pictures... https://i.imgur.com/ege4baW.png (https://i.imgur.com/8Sj8iuF.png) https://i.imgur.com/PRtIedc.png (https://i.imgur.com/J1qYTlw.png) Title: Re: [MNet][XMC] Payment Protocol > FromScratch|InstaTx|PoE|Sidecoins < UPDATE:11 Dec Post by: Jean Bax on December 11, 2014, 07:55:05 PM Release date, distribution ? can't wait
Title: Re: [MNet][XMC] Payment Protocol > FromScratch|InstaTx|PoE|Sidecoins < UPDATE:11 Dec Post by: tylerderden on December 11, 2014, 08:16:25 PM so theres oracles and gates and shit. ok have all my btc.
Title: Re: [MNet][XMC] Payment Protocol > FromScratch|InstaTx|PoE|Sidecoins < UPDATE:11 Dec Post by: Fathedin on December 11, 2014, 08:46:00 PM Still no date, however I should able to provide one in the following days.
Also I'm working on the MNet future plans already. We need a roadmap. Quote so theres oracles and gates and shit. ok have all my btc. Oracles are like PoW miners, Gates are only to answer queries so lighten the Oracles and add extra privacy to the users. The network could work without the gates. Title: Re: [MNet][XMC] Payment Protocol > FromScratch|InstaTx|PoE|Sidecoins < UPDATE:11 Dec Post by: Fathedin on December 11, 2014, 10:42:39 PM An other OP rework...
Should be more accessible now. Title: Re: [MNet][XMC] Payment Protocol > FromScratch|InstaTx|PoE|Sidecoins < UPDATE:11 Dec Post by: Fathedin on December 13, 2014, 10:31:31 PM Coding is progressing fast, the wallet is ~75% terminated. I'll release more screenshots during the next week, as I'll be absent tomorrow.
I can't give a date for the release yet. However, I need testers for the wallet. I'll grant 10 XMC to each, so you can try all features. There is a bounty for every bug found, between 1-10XMC depending of the bug's severity. Right now, I'm doing a pre-recruitment of 20 testers maximum. The XMC you'll earn during the test period are real. Contact me by private message, email or twitter. Title: Re: [MNet][XMC] Payment Protocol >Wallet Testers Pre-recruitment, bounties pending< Post by: sniveling on December 13, 2014, 11:13:48 PM If you have an IPO it will probably put people off.
Title: Re: [MNet][XMC] Payment Protocol >Wallet Testers Pre-recruitment, bounties pending< Post by: Fathedin on December 14, 2014, 08:48:56 AM I'll reveal the distribution plan on the next week ;)
Still looking for 17 testers ! Title: Re: [MNet][XMC] Payment Protocol >Wallet Testers Pre-recruitment, bounties pending< Post by: Fathedin on December 15, 2014, 07:02:32 PM New pictures of the wallet, showing the chain explorer.
https://i.imgur.com/rgfHUDP.png (https://i.imgur.com/gTWQRRs.png) https://i.imgur.com/g1gPkS0.png (https://i.imgur.com/AP4oSdF.png) https://i.imgur.com/EUgraPc.png (https://i.imgur.com/3rCjlfl.png) (click to enlarge) Title: Re: [MNet][XMC] Payment Protocol >Wallet Testers Pre-recruitment, bounties pending< Post by: Corleone1918 on December 17, 2014, 02:32:17 PM New pictures of the wallet, showing the chain explorer. https://i.imgur.com/rgfHUDP.png (https://i.imgur.com/gTWQRRs.png) https://i.imgur.com/g1gPkS0.png (https://i.imgur.com/AP4oSdF.png) https://i.imgur.com/EUgraPc.png (https://i.imgur.com/3rCjlfl.png) (click to enlarge) great work Title: Re: [MNet][XMC] Payment Protocol >Wallet Testers Pre-recruitment, bounties pending< Post by: Fathedin on December 17, 2014, 04:23:41 PM New pictures of the wallet, showing the chain explorer. https://i.imgur.com/rgfHUDP.png (https://i.imgur.com/gTWQRRs.png) https://i.imgur.com/g1gPkS0.png (https://i.imgur.com/AP4oSdF.png) https://i.imgur.com/EUgraPc.png (https://i.imgur.com/3rCjlfl.png) (click to enlarge) great work Thanks ! More screenshots are coming, tonight or tomorrow. I'll show the 'Network' part and the Sidecoin creation panel. Title: Re: [MNet][XMC] Payment Protocol >Wallet Testers Pre-recruitment, bounties pending< Post by: Equate on December 17, 2014, 04:39:45 PM Looks good so far , watching this thread...Keep us updated...
Title: Re: [MNet][XMC] Payment Protocol >Wallet Testers Pre-recruitment, bounties pending< Post by: Jackson86 on December 17, 2014, 04:42:12 PM ;D maybe this would be another good coin you know :o
Title: Re: [MNet][XMC] Payment Protocol >Wallet Testers Pre-recruitment, bounties pending< Post by: Fathedin on December 18, 2014, 01:34:22 AM Thanks,
I keep providing updates of the development progression; the easy way to catch them is to follow on Twitter (@MunitaNet (https://twitter.com/MunitaNet)). It's going nice and fast, but we can expect a slow down for Christmas. I may release the wallet for tests on the first week of 2015, the official release will follow few days after. Anyway, more screenshots are coming tomorrow, the Sidecoin GUI is ready but require some more polishing. I'm very excited by this feature, it has never been implemented in any protocol, except with Counterparty. I hope a lots of dev will create 'copycats' of the MNet, which means success. I'm still recruiting testers for the wallet, so far I have 11/20 peoples now. I'm minding to find some more peoples to check for typos on the wallet, everything need to be perfect. I'll set more bounties soon for this kind of job. Title: Re: [MNet][XMC] Payment Protocol >Wallet Testers Pre-recruitment, bounties pending< Post by: fox19891989 on December 18, 2014, 01:40:43 AM :o A huge passage, do u need a Chinese translation thread?
Title: Re: [MNet][XMC] Payment Protocol >Wallet Testers Pre-recruitment, bounties pending< Post by: Fathedin on December 18, 2014, 11:52:00 AM Hi fox,
yes I'll need translations, however the OP require some changes and updates before I start to find translators. I'll come back to you once it's ready ! Thanks. Title: Re: [MNet][XMC] Payment Protocol >Wallet Testers Pre-recruitment, bounties pending< Post by: Kearney52 on December 18, 2014, 03:49:49 PM i wish distribution will not be an ico ipo ...
Title: Re: [MNet][XMC] Payment Protocol >Wallet Testers Pre-recruitment, bounties pending< Post by: Fathedin on December 18, 2014, 08:09:21 PM Make your own Sidecoin/Asset with MNet ? Easy.
Anyone can do it from the Official Wallet, few clicks are required. Fill this form to create a new genesis for your Sidecoin: https://i.imgur.com/ahJgfTZ.png (https://i.imgur.com/UZKPlHG.png) (click to enlarge) Wait some seconds, and ... https://i.imgur.com/BDwOsNN.png (https://i.imgur.com/8taZEbj.png) (click to enlarge) ... your delivery is here. No headaches, low cost, safe. Reminder: Creating a Sidecoin require XMC. The price depend of your coin supplies. It cost 1 XMC every 100000 Units. This tax is shared between the Gate & Oracle who created your Sidecoin's genesis transaction. This transaction point to an address generated by your wallet. You're the only one to own this address private key. Make a transaction with your Sidecoin require (at the moment) no fee. Title: Re: [MNet][XMC] Payment Protocol >Wallet Testers Pre-recruitment, bounties pending< Post by: Jackson86 on December 20, 2014, 02:53:28 AM Make your own Sidecoin/Asset with MNet ? Easy. Looks great , let's see what will happen when launchAnyone can do it from the Official Wallet, few clicks are required. Fill this form to create a new genesis for your Sidecoin: https://i.imgur.com/ahJgfTZ.png (https://i.imgur.com/UZKPlHG.png) (click to enlarge) Wait some seconds, and ... https://i.imgur.com/BDwOsNN.png (https://i.imgur.com/8taZEbj.png) (click to enlarge) ... your delivery is here. No headaches, low cost, safe. Reminder: Creating a Sidecoin require XMC. The price depend of your coin supplies. It cost 1 XMC every 100000 Units. This tax is shared between the Gate & Oracle who created your Sidecoin's genesis transaction. This transaction point to an address generated by your wallet. You're the only one to own this address private key. Make a transaction with your Sidecoin require (at the moment) no fee. Title: Re: [MNet][XMC] Payment Protocol | Wallet Testers Pre-recruitment | Update: 22 Dec. Post by: Fathedin on December 22, 2014, 08:21:33 PM Development update
Hi lads, The development is still very active, The wallet is almost over, only few features and some fix left. I also need to sort/review the code for the open-source. I'm preparing, testing, the Oracle/Gate servers for the release. As said before, with Christmas and new Year, the development is slowing, but the release should happen on January. Here a listing of all updates I've done:
Title: Re: [MNet][XMC] Payment Protocol | Wallet Testers Pre-recruitment | Update: 22 Dec. Post by: jokumat on December 23, 2014, 07:37:30 PM So you want 90+ bitcoins in the ICO. Why should anybody trust you? You have no reputation to lose. You are not using your main bitcointalk account for this coin. Escrow doesn't help here. I'm not even asking for it.
Title: Re: [MNet][XMC] Payment Protocol | Wallet Testers Pre-recruitment | Update: 22 Dec. Post by: -Greed- on January 27, 2015, 10:31:00 AM Is the development in progress? No updates for quite a while.
Title: Re: [MNet][XMC] Payment Protocol | Wallet Testers Pre-recruitment | Update: 22 Dec. Post by: jokumat on February 02, 2015, 08:09:32 PM Scams are in progress all the time.
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