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Launch update
We are waiting for all the mainnet nodes to sync to initial mainnet blockchain before launch, several minutes and we will publish the launch post.
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The second half is 10 BTC?
It's only part of the funds, more will be sent soon. |
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Any update on that confirmation?
We will post an official 6 hours announcement for launch, once we have the final confirmations. |
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Where's the source code?
As we stated multiple times (since the original ANN), the source code will be released in a quarterly fashion, to allow competitive advantage again possible clones. |
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Bter updateWe are waiting for the final confirmation of Bter lead developer, before giving the 6 hours launch announcement. Crypti updatesWe released a new Changelog for the 0.1.1 version, that will be used as launch mainnet: http://blog.crypti.me/v0-1-1-change-log/(Several important improvements were added to ensure normal operations). We created a cross-platform Docker container, allowing Crypti users to run their own node across the 3 major platforms (Windows, Mac and Linux): https://github.com/crypti/crypti-docs/blob/master/boot2docker.md(Note that the container names are replaced by XXXX for the meanwhile, in order to prevent from launches before the official release with Bter).
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The Proof of Time is a sum of the blocks the node has been continuously running since it has either started, restarted, or generated a block.
Can you explain in details how other nodes validate the POT block (when a node has been launched)? It's quite difficult to implement to prevent the possibility of manipulation. In nutshell, all nodes are sending requests, whether ad-hock for transactions (e.g. I've sent 100 XCR to someone), or periodical ("keep-alives"). These requests are registered by other nodes with their arrival time recorded, and then added to block. In this fashion every node basically verifies the up-time of other nodes, resulting with the forged block recording the up-time map of all nodes in the block-chain. We managed to keep the size efficient, so there will not be a storage bloat. The weight system described by Bitseed also prevents an entity that managed to get control of forging (which in turn has to control the majority of nodes with balances...), from faking this up-time map for a prolonged amount of time. These and other details will appear in the white-paper, which we will update after the launch. |
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At the same time we will be filtering total spends by a block under 1 crypti and subtracting the reciprocal of the total spends of a node in a block from calculated PoP to discourage spamming the network with small transactions to boost PoP.
Does this apply only on the Main blockchain or is it implemented on the custom ones aswell? If so... I'm imagining a company/Mutual Fund selling factional shares for factional XCR is mass quantity(given the value of 1 XCR it seems unlikely but in the future). What kinda of impact would that have on users foraging ability? These are launch fees, and to be reviewed, and possibly replaced with dynamic formulas (as we do for transfer fee based on network transaction volume), as the network expands and becomes more secured. |
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Is there some deadline for launch?
Bter dev has contacted us a while, however he will require some rest after the long flight and the urgent tasks that he came for. We are waiting for him to update us he is done with the mainnet integration testing and withdrawals/deposits enabling, so we could give an advance notice to the community. |
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Would it have been possible that Bter had to chip into the Crypti funds to cover some of the lost money?
It's not possible as per our agreement with Bter, and in order to assure the community, Bter are moving the funds to external Vaults (still under control of Bter). |
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As per update both on blog and on 2nd post here in thread: Important note: Bter holds the key to this vault, and will release it to Crypti Foundation only after Crypti mainnet is launched, and the Crypti owners can withdraw their balances.
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When are you planning to launch it?
As per yesterday update, we still looking for Bter lead dev to contact us regarding his arrival to destination, mainnet testing finalization and readiness to open withdrawals / deposits, so we could do a final launch announcement. |
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Here is a theory of mine,
If I'm a Validated Merchant and I also have another standard user account (that is running a node) and I use my user account to "buy" my own goods in a closed loop, that would make me eligible to earn 50% transaction fee on my merchant account but also give my user account a high enough rating in the Proof of Purchase(PoP)+ Proof of Time(PoT) to earn the other 50% of the block reward.
This could essentially let me shark all the transaction fees on the whole network.
Due to the PoT part of the formula holding more weight than PoPs, in order to forge all the blocks and get all the forging fees, the said attacker will have to maintain a control of the majority (if not all) of all nodes participating in the Crypti blockchain, keep a minimal required balance for forging on each of them and make transaction back and forth on each of them. Moreover, any node weight decreases after a successful block forging, moving the chance to forge blocks to the other nodes, meaning other nodes will also start eventually forging. |
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I want to know if Bter released 15M XCR to the crypti team already and if they still have all of them. Can you post proof?  The launch team XCR's are already encoded in the genesis block on the address 15292791051968645847C (will be visible on mainnet both via API and on the upcoming Crypti explorer). This address will remain visible at all times (same as Foundation BTC funds), so the community could monitor it and be assured the XCR's are delivered to the team as per the vesting schedule. We will publish these addresses again after the launch in a separate blog post. |
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Bter update
The Bter lead developer is still in transit, plus likely will need some jetlag recovery time, hence the launch estimation is within the next 48 hours.
In order to make sure everything is ready, we agreed with Bter that once the developer landed and recovered, he will contact us, confirm the mainnet integration is done and the withdrawals / deposits can be enabled, allocate time to monitor the withdrawals / depostis together with us, and only then we will give an advance announcement in order to let everyone prepare.
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If the wallet was released on the 10th we all trade for a few days... price moves up the charts quickly... The hacker comes in and says while I'm here I will steal 50 million XCR as well...
XCR being stolen was not an issue. The hacker only had the password for the NXT wallet. No other coins were ever in danger. The hacker has compromised Bter servers directly, which forced them to change all wallets, BTC included. As NXT was taken due to (apparently) hard-coded password to NXT wallet, same could happen to Crypti, hence the safest way to prevent it was to regenerate the genesis block completely. |
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What is so different between the testnet and the mainnet that would require only the lead dev to oversee?
The main reason for the Bter lead dev to be present, is to monitor the withdrawals and deposits from Bter side. Crypti a new technology and a new integration for Bter, hence we agreed that both sides will be present and monitor the ongoing transactions. |
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SyRenity - Since the implementation is pause ATM, what is the Crypti team doing to utilize this down time?
As I wrote before, we currently using the time to perform some optimizations we planned to do this week anyhow, such as local storage size optimization and faster synchronization. We will update the change-log in case these improvements are stable enough to make it in the launched version. |
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