Latest posts of: georgem

This is the new official thread of spreadcoin. For the old thread go here

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Completely Decentralized Digital Currency without Pools

SpreadCoin is a new cryptocurrency which is more decentralized than Bitcoin.
It prevents centralization of hashing power in pools, which is one of the main concerns of Bitcoin security.

SpreadCoin was fairly launched on 29 July 2014, 9:00 UTC with no premine.

	Hash algorithm:	SpreadX11
	Total supply:	20 million
	Block time:	1 minute
	Block halving:	smoothly halved every 4 years
	Initial block reward:	6.66 SPR
	Port:	41678
	RPC-Port:	41677

One of the first apps to be built into the wallet is the vanity generator (or vanity gen) which allows anyone to create personalised payment addresses.

The easy to use wallet lets you search through trillions of payment addresses allowing you to find one or multiple vanity addresses,
which are then stored safely along with the private keys on your own computer - and nowhere else.

Searching using the vanity gen is probabilistic, so the amount of time required to find your chosen address patterns depends on how complex the pattern is,
the speed of your computer, and a little bit of luck.

You can use the vanity gen for a bit of fun, to make your address standout from the crowd or to create a link to a brand, business or other organisation.
You can even search for addresses that others might be willing to buy from you.

Watch the VanityGen tutorial:

(created by e1ghtSpace)

Additional advanced features (see whitepaper) that are unique to spreadcoin:

SpreadX11 is different from plain X11 by introducing a sophisticated pool prevention mechanism.

With SpreadX11 every block header contains additional information (MinerSignature and hashWholeBlock).
With the help of this information the protocol ensures that the miner of a new block is always also the first one to know the content of the whole block
and the private key to spend the coinbase transaction. (contrary to pool mining where the pool operator is the first one to know those things)

So when a miner finds a block, he must himself sign and transmit the block to the network (like solo mining), instead of having a pool handle this for him.

This effectively prevents pools by making their rules non-enforceable,
since any miner in any assumed pool can always just steal the block reward
instead of following the rules set up by the pool.

SpreadCoin uses a more compact representation for signatures in transactions.

SpreadCoin as well as Bitcoin uses ECDSA signatures. While bitcoin keeps a copy of the public key of the corresponding signature around,
SpreadCoin ommits this by recovering the public key on the fly directly from the signature.
This way it is not necessary to keep the public key of every ECDSA signature in the blockchain,
so this leads to *smaller transactions and hence a smaller blockchain (at the cost of a few CPU cycles more).

(*reduction in size of transaction from 139 or 107 bytes in Bitcoin to 67 bytes in SpreadCoin.)

Unlike Bitcoin, there are no abrupt reward halvings in SpreadCoin. Block reward is smoothly decreasing over time.

The time stamp field in the block header is now 64 bit instead of 32 bit (Bitcoin) so that much farther date times are possible (>Year 2106)


Linux	Windows	Mac	Github
(spreadcoin-linux64.zip)	(spreadcoin-win32.zip)	(SpreadCoin-Qt.dmg)	(Source Code)

	AMD		Nvidia
	(Spread-GPU-miner.7z)		(spreadminer_v0.1r3.zip)
	(Source Code)		(Source Code)

Watch the mining tutorial:

(created by e1ghtSpace)

cryptoid.info

Cryptopia
Yobit

Bootstrap Files:

http://www.spreadcoin.info/bootstrap_files.zip

(how to apply bootstrap files: shut down your wallet, go to SPR blockchain folder, delete all folders (blocks, chainstate), paste the zip content so that the folders get replaced. Done)

If you have problems connecting,
use these Seednodes:

Code:

addnode=5.35.253.206
addnode=94.23.23.194
addnode=52.17.253.8
addnode=37.59.18.108

WARNING! SPREADCOIN USES COMPRESSED PUBLIC ADDRESSES

Be careful when creating paper wallets or addresses with third party sites, like walletgenerator.net or universalwalletgenerator.net.
There have been cases where people sent SPR to the non-compressed public address.
This has fatal consequences since SPR uses compressed public addresses ONLY.

Always send SPR to the compressed public address, or else your SPR are lost forever.