There was a large shortage of GPUs and ASICs for mining the SHA256 and Scrypt coins. That disabled many people who wanted to mine such coins, but could get any hardware, simply because of its shortage. As a result, a new cryptocurrency Slimcoin was created which allowed anyone to mine it, without needing powerful hardware. Such is achieved by a new block generation, Proof of Burn. In Proof of Burn, powerful computers offer no advantage over less powerful ones.

Official Website: slimcoin.org
Official Thread: https://bitcointalk.org/index.php?topic=613213.0
Link to Whitepaper: https://slimcoin.org/images/downloads/slimcoin_whitepaper.pdf

There was a large shortage of GPUs and ASICs for mining the SHA256 and Scrypt coins. That disabled many people who wanted to mine such coins, but could get any hardware, simply because of its shortage. As a result, a new cryptocurrency Slimcoin was created which allowed anyone to mine it, without needing powerful hardware. Such is achieved by a new block generation, Proof of Burn. In Proof of Burn, powerful computers offer no advantage over less powerful ones.

Official Website: slimcoin.org
Official Thread: https://bitcointalk.org/index.php?topic=613213.0
Link to Whitepaper: https://slimcoin.org/images/downloads/slimcoin_whitepaper.pdf

[Slimcoin]

Slimcoin

New Block Generation through Proof-of-Burn
Even a Raspberry Pi can competitively mine, fast hardware offers no advantage



Website
https://slimcoin.org

Slimcoin was relaunched continuing from block 15935 on the old blockchain. It encountered a few issues with blockchain synchronization, but those have been long fixed and is soaring.
Official launch thread: https://bitcointalk.org/index.php?topic=613213.0

Specifications

• Uses Dcrypt algorithm, an algorithm made to be difficult to implement on an ASIC.
                This is done so that by the time any ASICs are made, Proof-of-Burn hash became bigger than Proof-of-Work
• Tri-Hybrid Blocks: Proof-of-Burn blocks, Proof-of-Stake blocks, Proof-of-Work blocks
• Block time is 1.5 minutes (90 seconds)
• Difficulty re-targets continuously
• Block Rewards:
  • Proof-of-Burn blocks: max 250 coins
  • Proof-of-Work blocks: max 50 coins
• Block rewards decrease in value as the difficulty increases
• Total 250 million coins

General Details of What is New
Slimcoin burn mining is truly ASIC-proof.

The main point of Proof-of-Burn is that "superior and faster mining hardware offers no advantage".

With all of these ASICs coming out for Scrypt now, many people are coming up with "ASIC proof" algorithms. Those are simply patches since mostly anything can be implemented on a custom ASICs an it is wrong to claim any hashing algorithm is ASIC proof. The best ASIC resistance is to not need them at all. Slimcoin utilizes that exactly. It does not focus on proof-of-work that much. It uses a new method of coin generation called proof-of-burn. Long story short, competitive mining can be done with a Raspberry Pi (super-low-power computer), literally.

Proof of Burn and Low Power Requirements:
        Proof-of-Burn mining is different from Proof-of-Work mining. More computers and higher computational power offers no advantage over slower computers. In short, how this is achieved is: when one burns coins, that transaction can be used to calculate burn hashes. There is also a multiplier that is multiplied to the raw burn hash to calculate the final burn hash. The greater amount of coins burnt by a user, the smaller the multiplier will be and the smaller the burn hashes will be. The smaller the burn hash is, the more likely the hash will meet the difficulty target (be accepted by the network as valid). Over time, the multiplier of a single burn transaction increases slowly, lowering the effectiveness of those burn hashes, acting like "decaying burnt coins". Per transaction, only 1 burn hashes is needed to be calculated per ~90 seconds. The reason low power can mine this is because basically almost any machine can hash a few SHA256 hashes in ~90 seconds. More information on Proof-of-Burn can be found here.

Technical Whitepaper:
An extensive explanation of what Slimcoin has new to offer: Slimcoin Whitepaper PDF

Downloads:
Executable available for both Linux and Windows
https://github.com/slimcoin/slicmoin-executable

Config File:

Code:

addnode=76.127.202.17:41680
addnode=76.127.202.17
addnode=96.237.174.192

Exchanges:
BTER SLM/BTC
exarena SLM/BTC

Pools
Slimcoin pool
Block Quarry Slimcoin Pool
Slimcoin HashHarder

Slimminer Downloads
Windows
Source Code

Tutorial for Linux source code compilation: https://bitcointalk.org/index.php?topic=613213.msg7192912#msg7192912
Tutorial for Windows source code compilation: https://bitcointalk.org/index.php?topic=613213.msg7090075#msg7090075

IRC Channel
#OfficialSlimcoin

Reddit
http://www.reddit.com/r/slimcoin/

Donation Address for Bounties:
ShooqRfkshDajLTvYMEKRKxXW7ooZLBZsm

[Slimcoin]

Slimcoin

New Block Generation through Proof-of-Burn
Even a Raspberry Pi can competitively mine, fast hardware offers no advantage



Website
https://slimcoin.org

This is a Release announcement

Specifications

• Uses Dcrypt algorithm, an algorithm made to be difficult to implement on an ASIC.
                This is done so that by the time any ASICs are made, Proof-of-Burn hash became bigger than Proof-of-Work
• Tri-Hybrid Blocks: Proof-of-Burn blocks, Proof-of-Stake blocks, Proof-of-Work blocks
• Block time is 1.5 minutes (90 seconds)
• Difficulty re-targets continuously
• Block Rewards:
  • Proof-of-Burn blocks: max 250 coins
  • Proof-of-Work blocks: max 50 coins
• Block rewards decrease in value as the difficulty increases
• Total 250 million coins

General Details of What is New
Slimcoin burn mining is truly ASIC-proof.

The main point of Proof-of-Burn is that "superior and faster mining hardware offers no advantage".

With all of these ASICs coming out for Scrypt now, many people are coming up with "ASIC proof" algorithms. Those are simply patches since mostly anything can be implemented on a custom ASICs an it is wrong to claim any hashing algorithm is ASIC proof. The best ASIC resistance is to not need them at all. Slimcoin utilizes that exactly. It does not focus on proof-of-work that much. It uses a new method of coin generation called proof-of-burn. Long story short, competitive mining can be done with a Raspberry Pi (super-low-power computer), literally.

Proof of Burn and Low Power Requirements:
        Proof-of-Burn mining is different from Proof-of-Work mining. More computers and higher computational power offers no advantage over slower computers. In short, how this is achieved is: when one burns coins, that transaction can be used to calculate burn hashes. There is also a multiplier that is multiplied to the raw burn hash to calculate the final burn hash. The greater amount of coins burnt by a user, the smaller the multiplier will be and the smaller the burn hashes will be. The smaller the burn hash is, the more likely the hash will meet the difficulty target (be accepted by the network as valid). Over time, the multiplier of a single burn transaction increases slowly, lowering the effectiveness of those burn hashes, acting like "decaying burnt coins". Per transaction, only 1 burn hashes is needed to be calculated per ~90 seconds. The reason low power can mine this is because basically almost any machine can hash a few SHA256 hashes in ~90 seconds. More information on Proof-of-Burn can be found here.

Technical Whitepaper:
An extensive explanation of what Slimcoin has new to offer: Slimcoin Whitepaper PDF

Downloads:
Executable available for both Linux and Windows
https://github.com/slimcoin/slicmoin-executable

Config File:

Code:

addnode=76.127.202.17

Exchanges:
BTER SLM/BTC
exarena SLM/BTC

Pools
Block Quarry Slimcoin Pool

Blockchain Explorer
Slimcoin Blockexperts
MultiFaucet.tk

Slimcoin Faucet
MultiFaucet.tk

Slimminer Downloads
Windows
Source Code

Tutorial for Linux source code compilation: https://bitcointalk.org/index.php?topic=613213.msg7192912#msg7192912
Tutorial for Windows source code compilation: https://bitcointalk.org/index.php?topic=613213.msg7090075#msg7090075

IRC Channel
#OfficialSlimcoin on freenode

Reddit
http://www.reddit.com/r/slimcoin/

Donation Address
SNDbyMt3UPDTyLsSUumqwniJcf2pCtGosP

Donation Address for Bounties:
ShooqRfkshDajLTvYMEKRKxXW7ooZLBZsm

[no]

Slimcoin is truly ASIC-proof.

The main point of Proof-of-Burn is that "superior and faster mining hardware offers no advantage".

With all of these ASICs coming out for Scrypt now, many people are coming up with "ASIC proof" algorithms. Those are simply patches since mostly anything can be implemented on a custom ASICs an it is wrong to claim any hashing algorithm is ASIC proof. The best ASIC resistance is to not need them at all. Slimcoin utilizes that exactly. It does not focus on proof-of-work that much. It uses a new method of coin generation called proof-of-burn. Long story short, competitive mining can be done with a Raspberry Pi (super-low-power computer), literally.

I decided to make this post as Slimcoin's development is coming near to a stable release. It will be released soon, most likely mid-May of this year. I want to spread the awareness of this proof-of-burn design that completely eliminates the need for ASICs. Here is a more specific explanation of how proof-of-burn works on Slimcoin's website: https://slimcoin.org/index.php/en/resources-en/proof-of-burn.

Specifications of Slimcoin:

• Uses Dcrypt algorithm, an algorithm made to be difficult to implement on an ASIC.
                This is done so that by the time any ASICs are made, Proof-of-Burn hash became bigger than Proof-of-Wok
• Tri-Hybrid Blocks: Proof-of-Burn blocks, Proof-of-Stake blocks, Proof-of-Work blocks
• Block time is 1.5 minutes (90 seconds)
• Difficulty re-targets continuously
• Block Rewards:
  • Proof-of-Burn blocks: max 250 coins
  • Proof-of-Work blocks: max 50 coins
  • *I have not yet fully decided on these rewards, so they may change*
• Block rewards decrease in value as the difficulty increases
• Total 2 billion coins

Proof of Burn and Low Power Requirements:
        Proof-of-Burn mining is different from Proof-of-Work mining. More computers and higher computational power offers no advantage over slower computers. In short, how this is achieved is: when one burns coins, that transaction can be used to calculate burn hashes. There is also a multiplier that is multiplied to the raw burn hash to calculate the final burn hash. The greater amount of coins burnt by a user, the smaller the multiplier will be and the smaller the burn hashes will be. The smaller the burn hash is, the more likely the hash will meet the difficulty target (be accepted by the network as valid). Over time, the multiplier of a single burn transaction increases slowly, lowering the effectiveness of those burn hashes, acting like "decaying burnt coins". Per transaction, only 1 burn hashes is needed to be calculated per ~90 seconds. The reason low power can mine this is because basically almost any machine can hash a few SHA256 hashes in ~90 seconds.

[CGMiner-Monitor and Commander]

CGMiner-Monitor and Commander

Advanced monitoring and commanding python script with console display, http server, and email alerts.
Enables cgminer to be controlled remotely without ssh by using encrypted emails with specific subjects and bodies to communicate from the commander script to the monitor script. This script is also extremely configurable, allowing for every aspect of it to be modified to the user's liking.

Works on GNU/Linux, may need some modification to work on other platforms.

https://github.com/JSmith-BitFlipper/cgminer-monitor
Tested with python 2.7.3 and cgminer 3.7.2.
Additional crypto modules for the email encryption may be needed.

CGMiner-Monitor script
cgminer-monitor.py

 - Supports multi-gpu setups
 - Checks for incoming commands from the Commander script as a system for remote commanding of miner without ssh
 - Supports Email encryption (AES) for added security
 - Monitors cgminer by checking critical values
 - Emails if something is wrong
 - Checks the Internet connection periodically
 - Restarts cgminer if the GPU is sick or dead
 - Runs a dead simple http server that only serves a page with the results of the monitor (identical to the console output with a nice display)
 - Monitors MMFCE pools and display the current balance in their currencies
 - CTRL+C to stop the script
 - Extremely configurable allowing all aspects to be changed to the user's liking

Usage for the Cgminer-Commander Script
cgminer-commander.py

 - If configured correctly, handles all of the formating and encryption of emails
 - When sending command emails, specific format must be followed
 - The commands are from cgminer's API, a list of the commands can be found in cgminer's API-README file
        Format: command, parameter1, parameter2, etc;
                Example:
                        gpu, 0;
                        gpuintensity, 0, 13;
                        status;
                        quit;

 - API commands executed from top to bottom
 - Replies from cgminer's API will be emailed back

Credits
CGMinerClient class based on  WyseNynja's gist https://gist.github.com/WyseNynja/1500780
cgminer-monitor.py based on https://github.com/shazbits/cgminer-monitor

Comments
I know there are plenty of monitors for miners, yet none suited my needs. I improved this monitor from shazbits' to be able to command my miner remotely. I also added some more customization and created an entire commander script that does the formating and encryption. This monitor/commander bundle is a simple alternative to ssh'ing and is easier to setup. It is fairly lightweight and small in size, and there is no need for compilation. It still does not compensate the security factor.

Setup
1. Install python-pip in order to install the necessary modules (replace apt-get with your distro installation manager)
        sudo apt-get install python-pip
2. Install the python development headers needed to install the crypto modules
        sudo apt-get install python-dev
3. Install crypto modules
        sudo pip install pycrypto
4. Open cgminer-monitor.py in an editor and set the user configurations at the top
5. Open cgminer-commander.py in an editor and set the user configurations at the top
6. Run the scripts
        sudo python cgminer-monitor.py
                Starts the monitor, run this on the mining rig
        python cgminer-commander.py
                Starts the commander, run this on the commanding computer

*Note*
In order for the script to use the cgminer's api, '--api-listen --api-allow W:127.0.0.1' must be included in the cgminer command or configuration file