I've taken a few days to really think hard about the changes in the future for POW and Darkcoin... it really does feel like a well thought out plan, it's just that you have to look at it in the context of InstantX... first read: https://www.scribd.com/doc/241012134/Transaction-Locking-and-Masternode-Consensus-A-Mechanism-for-Mitigating-Double-Spending-AttacksBitcoin uses proof of work to maintain consensus throughout its network of peers. Due to its technical parameters this limits the speed at which a transaction can be considered confirmed and safe against double spend attacks.
To decrease the time a transaction needs to be confirmed it’s possible to lower the block generation time. which has the drawback of blockchain bloat and has a lower boundary of ~30 seconds due to network latency.
We are proposing to combine the proof of work algorithm with an implementation of a distributed lock manager (DLM) which will utilise the masternode network: Transaction Locking. Once finalized and deployed, POW serves as a much slower "backup" to the DLM method. To support transaction locking, a robust network is required - and - logically, as the Masternodes will be doing all of the actual 'work'... doesn't it make sense to adjust the distribution of block reward to provide incentive for that network? + if(nHeight > 150000) ret += blockValue / 20; //25%
+ if(nHeight > 150000+((576*30)*1)) ret += blockValue / 20; //30%
+ if(nHeight > 150000+((576*30)*2)) ret += blockValue / 20; //35%
+ if(nHeight > 150000+((576*30)*3)) ret += blockValue / 40; //37.5%
+ if(nHeight > 150000+((576*30)*4)) ret += blockValue / 40; //40%
+ if(nHeight > 150000+((576*30)*5)) ret += blockValue / 40; //42.5%
+ if(nHeight > 150000+((576*30)*6)) ret += blockValue / 40; //45%
+ if(nHeight > 150000+((576*30)*7)) ret += blockValue / 40; //47.5%
+ if(nHeight > 150000+((576*30)*9)) ret += blockValue / 40; //50%
+ if(nHeight > 150000+((576*30)*11)) ret += blockValue / 40; //52.5%
+ if(nHeight > 150000+((576*30)*13)) ret += blockValue / 40; //55%
+ if(nHeight > 150000+((576*30)*15)) ret += blockValue / 40; //57.5%
+ if(nHeight > 150000+((576*30)*17)) ret += blockValue / 40; //60%
60% for the preferred method (DLM), 40% for the auxiliary and slower method (POW). I think the fallacy lies in the term "payment" - it's a distribution of block reward based on service provided to the network. What if down the road 95% of transactions bypass the POW network entirely? It will be funny looking back on this thread when the roles are reversed and MN owners are complaining about POW "payments" ;-) Great post - this is my thoughts exactly. Evan knows whats best from a financial and crypto perspective. To allow InstantTX to be successful and to secure the anonymity network we need more masternodes. There are other ways to give incentives to get people to purchase and configure a MN but I see this as the best approach. |
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Sigh - I cannot wait until Evan activates enforcement. I see this as such a huge step in the DRK journey.... I have lost 5+ MN payments in the past 2 days from fucking non compliant pools...If I was Evan I would do it right now - not sure why the hesitation?  ? |
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Has there been talk of reducing the number of coins for a masternode? I would love to be able to run one or two!
No - the number of coins will stay the same. The reward masternodes get might increase though which imo is great to create a financial equilibrium and strength for the MN network. |
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Put it this way, if DRK doesnt make it then you can absolutely forget about the entire alt-coin scene and any other investments you have made in it.
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Congrats to Evan and team on Open Source - now the true adoption phase can begin
You want the price to skyrocket, it needs to be utilised for a purpose.....get Darkcoin to be the new standard anon currency in the dark markets agora etc and watch it explode and hold its value.
Thats how bitcoin got its value and thats how dark should as well...
I think there is a reddit page for the darknet markets - we should let them know its been reviewed and open sourced and ready to replace btc.
Just posted on DarkNet Markets sub reddit...please go up vote!!! C'mon guys...even if you are morally against this will definitely boost the value of DRK if adopted. GO up vote and comment. Upvote and give support http://www.reddit.com/r/DarkNetMarkets/comments/2hutfj/the_smart_persons_choice_of_currencydarkcoin/Like it or not, the liquidity and amount of money that flows through these markets will make Darkcoin at $50 a coin a laugh... |
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Now - Darkcoin open sourced today! |
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Congrats to Evan and team on Open Source - now the true adoption phase can begin
You want the price to skyrocket, it needs to be utilised for a purpose.....get Darkcoin to be the new standard anon currency in the dark markets agora etc and watch it explode and hold its value.
Thats how bitcoin got its value and thats how dark should as well...
I think there is a reddit page for the darknet markets - we should let them know its been reviewed and open sourced and ready to replace btc.
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Darkcoin mentioned on NBC News: [...] Kolb said the broader cryptocurrency community understands the tensions between security and freedom. "Nobody wants the bad guys to get a bunch of money," she said. "But they don't want to lose their freedoms, either." She added that U.S. intelligence would do well to focus less on bitcoin and more on other alternative currencies that are more focused on anonymity, like Darkcoin, which Wired magazine called "the shadowy cousin of bitcoin." http://www.nbcnews.com/storyline/isis-terror/u-s-military-probing-digital-currencies-terror-fight-n212371Whoa that's some serious coverage and confirmation on how serious they are treating Evans glorious gift to the world. |
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Darkcoin
Goes open source 29th September. Has been reviewed by respected crypto expert Kristov Atlas and he has given his thumbs up on both the code review and the design if the system.
The few minor issues that were found are being resolved and tested before final relaease.
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Amazing Evan Duffield.
I was even more impressed by the comments on the bitcoin reddit giving kudos to Evan for his revolutionary ideas and constant thrive to improving the crypto world.
Bitcoin is suffering due to its 1.5hr confirmation times and this could be the tipping point where Darkcoins anonmyity and instant transactions finally shines.
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I am speachless. This is the most amazing white paper I have read since satoshis
Evan you are a genius. So privileged to be on this journey with you. Thank you.
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ok shit just got real - 0.1+ in the next hour or two!
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0.9 in the next 15-60min....came quicker than I thought...
0.1+ before the weekend....
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Looks like dumping of BTC has begun - keep your eye on DRK  |
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next stop .01?
And beyond  |
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Anyone want to bet against me?
If instant transactions work, after open sourcing, I bet that within 90 days of open sourcing, overstock.com will allow DRK as a method of payment.
Thats a big bet - although if instant transactions work - the entire crypto community will be turned on its head. Would bitcoin adopt DRK technology just to keep afloat which in turn shows its inferior. Bitcoin struggles with large concurrent transaction volume let alone waiting hours for confirmations. I cant stand watching my transactions to exchanges when the blocks are sometimes SO far apart. |
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Market is building pressure to explode again |
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Looking to buy 47000 DRK at a fixed market rate. Please drop me a message if you are interested to sell a bulk of at least 10k.
Did you sell your house for DRK lol If you bought that up on the markets in one hit that'd be a nice candle  |
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Feels like we may be ready to mount an attack on .0086 level today. Looking for more upside momentum. Next stop .01s
It's a standoff. Nobody wants to sell, and nobody wants to pay more than they have to... Pressure is mounting again, I see 0.01+ by the end of the weekend, if not before. |
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Even Dan Metcalf is laudatory about the Peersend $HAL #halcyoncoin "The solution is far superior to any of the centralized coinjoin implementations I have seen ~ Dan Metcalf, Dev of XC He spend three days to review the code ATCSECURE @ATC_SECURE · 4 sept.
@HalcyonDev Reviewing the new #peersend anonymous technology will take some time due to its decentralized and trust-less design. Impressive. So you get Dan Metcalf to review it - someone who didnt know how to code PoS into his own coin and had to pay loljosh to do it.... Quality review bro... |
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