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:

• Release of the distribution method (here).
• New bounties (here), I'm mostly looking for translators at the moment.
• Opened the FAQS (here).
• We have now a Reddit page ! The design still require some works...: http://www.reddit.com/r/munitanet/
• I'm now recruiting, not only Oracles, but also Gates (here).
• A lot of new details on the roadmap (here).
• The OP has been reworked to make translations easier.

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:


(click to enlarge)

Wait some seconds, and ...


(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.

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.

Thanks,

I keep providing updates of the development progression; the easy way to catch them is to follow on Twitter (@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.

Thanks !

More screenshots are coming, tonight or tomorrow. I'll show the 'Network' part and the Sidecoin creation panel.

New pictures of the wallet, showing the chain explorer.




(click to enlarge)

I'll reveal the distribution plan on the next week

Still looking for 17 testers !

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.

An other OP rework...

Should be more accessible now.

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.


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.

Let's introduce the MNet's official wallet.
I'll show the funds management part.


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:

• encrypt your wallets with a passphrase,
• give a name to a wallet,
• add a 2nd encryption round with a PIN Code,
• put a wallet on Coldstorage,
• backup your wallets or export a private key,
• import your wallets or import a private key,
• create new addresses,
• get a quick overview of your last transactions.

Extra pictures...

Everything is in the OP.

No release date,
Still in dev,
PoE,
Distribution undecided, no sales before any release anyway.

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.

cakir,
the code isn't ready yet, I'm doing a pre-recruitment.
I sent you a private message.

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.

Full OP reworks,

• should help the newcomers to understand the protocol by reading only the first part,
• better explanations on the voting system (CoP),
• updated some parts.

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.

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.

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.

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.