Bitcoin Forum
June 23, 2024, 04:32:50 PM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
  Home Help Search Login Register More  
  Show Posts
Pages: [1]
1  Alternate cryptocurrencies / Tokens (Altcoins) / Re: [PRE-ANN] Sigmoid: An ASIC-resistant, mineable KIP-7 token. on: March 12, 2022, 09:17:26 AM
Thanks for the translation mate!
2  Alternate cryptocurrencies / Tokens (Altcoins) / [PRE-ANN] Sigmoid: An ASIC-resistant, mineable KIP-7 token. on: March 11, 2022, 09:53:47 PM

Sigmoid

An ASIC-resistant, mineable KIP-7 token.


Website: https://sigmoid-token.github.io/
Whitepaper: https://sigmoid-token.github.io/whitepaper/
CPU Miner: https://github.com/sigmoid-token/sigmoid-cpu-miner

  • ASIC-resistant: Balloon hashing algorithm makes Sigmoid ASIC-resistant.
  • Easily exchangeable: Since Sigmoid is an KIP-7 token, it is easily exchangeable for Klaytn or other tokens, thanks to KLAYswap.
  • Secure: The token is immune from 51% attacks unless Klaytn itself gets attacked.

Specifications
  • PoW: Balloon Hashing or Keccak-256. (Initially Keccak-256)
  • Block target time: 10 minutes
  • Block reward: 50 tokens
  • Max supply: 21000000 tokens
  • Block reward halving: yes
  • Difficulty adjustment: DigiShield implementation (Same as Dogecoin)

Pre-mining
  • 0.1%~1% of the max supplies will be pre-mined
  • Will not sell until the pre-mined amount becomes less than 5% of the total supply
  • Will mainly be used for another KIP project about IPFS and deep learning dataset. Stay tuned!

Launch Date: Before 2022.08.
(might be much sooner than that... 2022.04. if the project goes well)

Progress
  • Smart Contract(solidity): 100% complete.
  • CPU Miner: 90% complete. The part sending results to the pool must be done.
  • Mining pool: 40% complete. Move from Ethereum to Klaytn API complete. Needs testing.

If you want this project to go faster... please check https://www.buymeacoffee.com/sigmoidtoken

What is KIP-7? What is Klaytn?

Klaytn is an enterprise-grade, service-centric platform developed by Kakao, Korea.

Klaytn, the currency running on the platform, is the 39th largest cryptocurrency in crypto market capitalization.

KIP-7 is a fungible Klaytn Compatible Token (KCT) that has properties of uniformity and divisibility, which is very similar to ERC-20 from Ethereum.

Differences with ERC - 20 are:

1. More optional functions are included (e.g. mint, burn and pause extension).
2. Every token transfer/mint/burn MUST be tracked by event logs. This means that a Transaction MUST be emitted for any action related to transfer/mint/burn.
3. The KIP-13 interface for each method group MUST be implemented.

KIP-7 tokens are easily exchangeable in KLAYswap, the Klaytn’s DeFi solution that can take advantage of this high liquidity environment.

How can Sigmoid be ASIC-resistant?

Because Sigmoid uses Balloon hashing for its key derivation function.

Balloon hashing is a NIST-recommended key derivation algorithm which is theoretically proven to be memory-hard. Memory-hardness of this particular key derivation function enables Sigmoid to be ASIC-resistant. Also, parameters for Balloon hashing can be easily modified, which makes Sigmoid even more ASIC-resistant.

Stay tuned!

About me: Normal Korean student from SNU, Electrical and Computer Engineering Dept. BION
Pages: [1]
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!