Please note the required update to 0.18.2.1, available from our website.

This is an essential release for everyone.

It fixes an issue with certain transactions staying in the mempool. With this fix in place, at block 35550, these transactions will successfully complete.

Please upgrade as soon as possible. To ensure uninterrupted service, you must upgrade before block 35550.

After block 35550, non-upgraded wallets will not be able to accept blocks, and will need to upgrade to continue working.



We expect to see the first Hive mined blocks appear around 08:00 UTC in the morning. Proof-of-play blocks will be available shortly afterwards.

Exactly 5 hours until mainnet launch. Join us for the party!

Yes, it is possible to recover the keys, but you can't directly import the keyphrase into the Ring wallet.

Instead you can use https://iancoleman.io/bip39/ with your keyphrase to generate the same sequence of keypairs your hardware wallet will have generated each time it was asked for a new address. Note that you should save that tool locally and run it offline for safety.

Help getting the right derivation paths etc depends on the coin you are claiming from. Help with this *may* be available on our Discord, but the team's priorities immediately after launch will likely be elsewhere.

EDIT: Who'd have expected it -- our [ANN] is remarkably free of FUD! Thanks all for the kind words. Please do come and join our community on Discord (invite in OP and on website). The dev team does a live DJ show / exclusive news drop / AMA most Saturdays, called "Saturday Night Hive". You can watch on Twitch or listen via a Discord audio repeater.

The stream starts at 20:00 UTC. Tomorrow, the mainnet release at 21:00 UTC will of course be the highlight of our show  

We are thrilled to announce that mainnet and testnet wallets for all platforms, and with full source code, will be released SATURDAY 14 MARCH, at 21:00 UTC.

While OP will be updated with a link to the release, you should join our Discord for the absolute latest news.

- Yes, "a few" days. As ever, watch our Discord for latest news -- including at least several hours of advance notice when we are able to release.

We're launching two entirely new mining methods at once (and custom difficulty adjustments for them), and doing the widest ever initial distro. Trust us, you don't want us to rush this.

It's taken us a few days to both validate our chainstate snapshots, and to address some protocol and wallet issues identified on our private testnet. We're now happy with where we are at, but there is one last thing preventing us launching.

As the max sustainable population of Hive agents varies between the two chains (20 million bees on LCC, 1 million dwarves on RNG), we need to calibrate the chainwork scaling algorithm which works to enable the different types of mining to work together symbiotically (see Hive 1.1 WP for more info).

This means we must wait for the testnet hive difficulty to start to float correctly, which could take another couple of days.

While it's frustrating for us all to wait, getting this correct now will help to ensure a positive experience for users, minimise reorgs, and save the coin from an early UASF to repair the calibration.

This extra delay also has given us extra time to make sure that when we launch, we have all the infrastructure in place to make rollout, initial sync and user on-boarding as smooth as possible.

Quick update folks; also crossposted to Ring and LCC Discords. The team's been crunching for hours to get our Ring chainstate snapshots so that they are absolutely correct; due to some chainstate database format strangeness in Dogecoin, we're not quite there yet, though very close to having that resolved. The chainstate snapshots are the first items on an extensive pre-flight checklist. We want to be sure that when we release, not only the wallets but the supporting infrastructure are as solid as can be.

I'm not going to give any release time estimate other than to say that a release within the next 24 hours is, at this point, pretty unlikely.

Once we do have a final release, we will hold for at least a couple of hours and announce the release time across all mediums.

However, when it comes time to finally drop the links, while we'll try to drop them on all mediums as simultaneously as we can, Ring Discord #general chan will be the first on the paste list.

Proof-of-play blocks will not be available until there are Hive-mined blocks (which will take at least 2880 blocks, since the first dwarves need to mature), and Minotaur pow blocks begin on a slow-start, ramping up from zero to their final block reward of 0.2 RNG over 2000 blocks. This is to prevent early miners having an unfair advantage before everyone's had a chance to get synced, as well as to allow mining difficulty a chance to adjust to the network's collective hashrate. So, don't worry if you're not there from minute zero, you won't necessarily get left behind.

Furthermore, as with the LCC launch, it will be provable that no mining has occurred between the Initial Distribution blocks and publicly mined blocks.

Hi, our cpuminer-multi fork supporting the new algo is already publically available: https://github.com/litecoincash-project/cpuminer-multi/

Thank you (and all others) for your kind words

Less than 24 hours to go until each snapshot block!

@Gash, @Anara22; we suggest you re-read the OP.

- Are you asking about inflation, total expected issue over 6 months, or something else?

- The overall intent of Hive Mining is to both increase security against 51% attacks (esp against small-cap chains) and massively democratise the mining process in a better way than via proof-of-stake. Note that those are the LCC Hive config figures.

No probs! The LCC fixed rate claim at above market rate is to reward the LCC community, who really stuck with the team through thick and thin. Hive mining in particular was definitely a development the whole community helped build together.

Sure. At snapshot time, 1 held BTC will reward you with 1 RNG.

If, at snapshot time, the Dash market price (as per CMC) is 0.01 BTC, then 1 held Dash will reward you with 0.01 RNG.

Sure.

Any mining method represents a competition, the aim of which is to decide which network node has the right (or priority) to mint the next block.

When a Hive block is minted, a proof-of-play gameplay opportunity is created; the block hash of the Hive block is used as a game seed. In the case of the initial tile-placing game, the seed serves to shuffle the initial tile stack (which then gets subsequently shuffled every time the player places a tile, depending on the placed tile's position and rotation).

The output of all this is a vector which tracks the decisions made by the player, and allows the validation code to fully replay their game. So proof-of-play is a function of this seed hash, and the user's gameplay. Giving these as inputs to a heuristic scoring function, f(seed hash, gameplay) = score, we have a way of checking whether the player performed well enough to win the right to mint the block.

So, when a player completes the game, if the score meets a required target, and if nobody else has yet claimed the game opportunity created by the same specific Hive block, their wallet checks the mempool, assembles any waiting transactions into a block, and submits the block.

Not yet! First the snapshot needs to happen; we'll release source and binaries as soon as possible afterwards; think hours or days, not weeks!

Binaries for all platforms will be released simultaneously, including Mac and Rasp Pi.


As soon as possible after the snapshot, but for absolutely up to the minute news, join our Discord

@xxhll please see "availability" section. Keep an eye on our website and Discord!

@joe Welcome "Snapshot day" is the day on which we will take an instantaneous dump of all active addresses and balances across BTC, LCC, DASH and DOGE. Those addresses will get converted into Ring addresses, and our first 30k or so Ring blocks will pay all those converted addresses.

World Record Initial Distribution

To ensure the widest ever distribution of a new coin, on 18 Feb 2020, chainstate snapshots of BTC, LCC, DASH and DOGE were taken. A proportional Ring balance will be paid to over 30 million addresses (representing over 30 years of compressed cumulative blockchain history).

Snapshot Blocks

These blocks all occured close to 12:00 UTC (midday) Tues 18 Feb 2020.

• Bitcoin 617922
• Litecoin Cash 1907989
• Dash 1223510
• Dogecoin 3110554

Claim Rates

• Bitcoin 1 BTC : 1 RNG
• Litecoin Cash 1 LCC : 0.00020000 RNG (5000 LCC : 1 RNG)
• Dash Claim rate will be as per BTC price at snapshot point
• Dogecoin Claim rate will be as per BTC price at snapshot point

Three Ways To Mine

Our unique symbiotic chainwork scaling algorithm is designed to allow additional security on hybrid chains by encouraging the different mining dimensions to work together (see our Hardening The Hive paper for more info).

Proof-of-work using a new bespoke CPU minable hash algorithm, Minotaur. This algorithm is designed to level the playing field as much as possible; core count is far more important than core speed, with cores that have a 10x performance difference on paper showing only 2-3x performance difference while hashing Minotaur.


Hive mining: Create on-chain agents (dwarves) who mine for you during their lifespan (see the Hive mining guide or whitepaper)


Proof-of-play: Play games inside the wallet to earn rewards. This is no gimmick; gameplay directly generates blocks and secures transactions.


Scaleable Gamification

Our proof-of-play protocol is designed for integration with additional games. Right from launch you'll be able to do proof-of-play mining from within the wallet; but in the future, third party game developers could have their players earn coins while securing the blockchain.

The Rialto

We know that like us, you don't trust any of the companies promising you "end to end encrypted chat". We also know that you do trust the cryptography that protects your coins every day.

Shakespeare's Rialto was a street in Venice where merchants would meet to discretely conduct their business. Our Rialto will be a wallet-integrated chat application offering true end to end encryption and fully integrated low-friction payments. Note that we're not talking about storing your chat on-chain! Rather, on-chain keypairs will be used to negotiate secure session keys for offchain p2p chat.

Economic Parameters

• Block time: Approx 30 seconds across all block types (pow, hive, pop). Even distribution of each block type is expected.
• Transaction bandwidth: >30K transactions / minute (assuming 250 byte transactions).
• Total initial distribution: Approx 19 million RNG paid to approx 31 million addresses (exact figures to follow after snapshot point)
• Development fund: 2% of initial distribution
• Proof-of-work block reward: 0.2 RNG
• Hive mining block reward: 1 RNG
• Proof-of-play block reward: 0.05 - 0.2 RNG
• Inflation: Less than 2% per annum, tending towards zero as chain approaches infinite length. Note that Hive mining is overall zero-sum and non-inflationary.
• Hive mining parameters (see the Hive whitepaper):
  • Dwarf maturation time: Approx 24 hours
  • Dwarf lifespan: Approx 10 days
  • Sustainable population at GI=100: 1 million dwarves.

Availability

The Ring wallet will be made available in source form and as binaries for all platforms at 21:00 UTC on SATURDAY 14 MARCH.

Our Minotaur reference implementation is already available.

How to Participate

Simply hold LCC, BTC, DOGE or DASH for the duration of the snapshot day, 18 Feb 2020, on private keys that you control. See above for the specific snapshot blockheights for each chain.

You don't need to trust us in order to claim your coins. In common with an IFO, after the snapshot you should move all your funds to a fresh private key. Once the wallet is released, you can safely import the private key you used to hold your funds during the snapshot. Always practice safe forking!

Confirmed Exchanges


Confirmed Services


Links

Visit our site, ringcoin.tech for a chance to win 100 RNG - equivalent to holding 100 BTC through the snapshot point!

• Official website
• Discord
• Telegram
• Twitter
• Reddit
• Medium
• Facebook
• Github
• Email: info@ringcoin.tech

Well, we really did it!

To wrap up "Season 1" in style, we today successfully performed the first ever crypto spacedrop.



More mission info here, and full video to follow

I'll just leave this here



Full mission video will be available ASAP.

And we're in the air!

Track the flight here