[SweepstakeCoin (SWEEP)]

SweepstakeCoin (SWEEP)

\

***** Please go to New thread: https://bitcointalk.org/index.php?topic=2112735

***** this thread is closed.



**Version 1.3 is released. Version 1.3 added checkpoints to resolve fork issue. It is a *mandatory* upgrade, so please upgrade as soon as possible. Sweepstake feature is temporarily disabled. Once the blockchain is stablized, we'll restore it. Thanks.**

About SweepstakeCoin

SweepStakeCoin (SWEEP) is a new PoW/PoS coin with many nice features.

- It integrates and enhances the sweep stake features originally defined in JackpotCoin;
- It integrates natively with TOR, so all the connections and communications in SweepstakeCoin automatically happen through TOR, thus protecting your privacy, and no client side set up needed;
- It also uses JHA algorithm for PoW. JHA (JackpotCoin Hash Algorithm) is an advanced algorithm similar to X11, but enhanced with energy saving and better security. There is no ASIC available for this hash algorithm, so as opposed to X11/X13 etc where ASICs are available, the use of JHA will ensure that we have a fair mining environment with GPU/CPU.
- It also provides integrated encrypted messaging.

All the above features are provided at the launch time, and the dev team will continue developing and enhancing the coin.

Website: www.sweepstakecoin.info

Please vote for us at NovaExchange, vote for SWEEP! : https://novaexchange.com/addcoin/



Sweepstake Details

SweepStakeCoin creates sweepstake for everyone who mines to get a chance to win big. The sweepstake will start at 50X of the normal block payment, and increases exponentially with the time. When the elapsed time reaches 5 days, which is the average expected time to win, the sweepstake will grow to 1,000X the normal payment. If still not won, the sweepstake will continue to grow with the time exponentially, until it reaches 10 days where the sweepstake will increase to maximum 20,000X the normal block payment. After 10 days, the sweepstake will stay at 20000X the normal block payment until won.

The formula to calculate the sweepstake is:



For example, if the normal payment is 1000 SWEEPs, and you win the sweepstake at 7th day 16 hours, the sweepstake payment will be
    1000 * (50 * exp(c*7 2/3)) = 4,941,772 SWEEPs

The payout curve is shown in the following diagram. Note that this is an example where the current block payout is 1000 SWEEPs.



You can check the current sweepstake size using the client. Open the wallet and go to Help->Debug window->Console, type getcurrentsweepstake, you will see the current sweepstake size.

Also the sweepstake is determined with true randomness, so no cheating from big hash powers.


Native Integration with TOR

The code-level integration with TOR ensures that we are always in an secured environment. There is no client side configuration needed. The Client will automatically join the TOR network and connects to the other TOR nodes in the network (including our seed nodes). After you connect to the SweepstakeCoin network, check your displayed IP using SweepstakeCoin client console, you will see that your client is assigned a hidden TOR address (onion address). See the following screenshot.





JHA Hash Algorithm

This hash algorithm is designed by JackpotCoin team and has many advantages over the conventional hash algorithms. Notably:
- No AISC Available
- Energy Saving
- More Secure

The following is a excerpt from the original description of the JHA.

"JHA has designed using Random Hashing Method and Random Variable Hashing Round using SHA3, Blake, Grøstl, JH, Skein. It achieves the highest Secure Level without increase the requirements such as electric or hardware cost. It is permanently ASIC resist because there are multi-level of anti-parallelism in instruction, sub module, even full rounds of hashing... JHA uses variable random hashing rounds, it reduces the hashing power requirements by 1/2 comparing with the linear hashing method. And it increases 16234 times on the security side."


Coin Specifications

- PoW/PoS
- JHA algorithm for PoW
- 3 transaction confirmations
- 50 minted block confirmations
- Total coins will be around 2 billions after 10 years.
- Connection port 17570, RPC port 17571
- 5% premine for development costs, code maintenance/enhancements, bounties, and giveaways etc.

PoW
- 60 sec block target
- diff retarget each block
- Initial payout will be 1000 coins per block
- True random sweepstake
- Sweepstake as described above
- PoW payout will be reduced by 5% every 30 days. Minimum payout will be 1 SWEEP and will stay there (it will be reached after 11 years and 3 months)

PoS
- 60 sec block target
- diff retarget each block
- PoS interest will be variable per year: 1st year: 20%, 2nd year: 10%, 3rd and subsequent years: 5%.
- minimum holding time before the pos will be generated 1 day.
- maximum allowed accumulated coin is 30 days (this is to discourage people hold the coin but never open the client).


Coin Source and Wallet Downloads

Source Code (Version 1.3)
https://github.com/sweepstakecoin/sweepstakecoin

Windows Client (Version 1.3)
https://mega.nz/#!stYFnIQZ!Cd4ycOVqiMlGGU1mvSWQjgu9fEyI9G5uLY9f42QVkeU
https://drive.google.com/file/d/0B5nPUzyLr7_IRUt0SWlkdU1yNGc/view?usp=sharing

Windows Client Virus Scan Report (Windows Client Version 1.3)
https://www.virustotal.com/en/file/e5d4a0ffa7b2df4fdfa6a278cbb43eea9dc853d9ab67df49b7b3b3eebe6e2207/analysis/1495217600/

Linux Client (Daemon, compiled on Ubuntu, Version 1.3)
https://drive.google.com/file/d/0B5nPUzyLr7_ITFNxeFNJQnNfRHc/view?usp=sharing
see FAQ on how to use Daemon


Bootstrap file - if your wallet not sync or you want quick sync, use bootstrap.dat (updated to cover to block 81250)

https://mega.nz/#!5xIkBBAA!0EOAtXHhmPxZjcaGwMRKtqWZJd0e991A1Ab15BX8cy4
https://drive.google.com/file/d/0B5nPUzyLr7_ITnJZaVlhVnA2RWs/view?usp=sharing

To use bootstrap file, download and unzip the file, exit the client. Locate your config dir. Make a backup of wallet.dat in config dir.
Then remove everything in your config dir EXCEPT wallet.dat, peers.dat and SweepstakeCoin.conf (if you have one). Again DO NOT
remove your wallet.dat. Now copy bootstrap.dat to your config dir, then start the wallet client. Now your wallet should say importing
blockchain from bootstrap.dat. Wait for it to finish, and you should be in sync.

Also pleazse temporary disable the staking (put staking=0 in conf file), once the blockchain stablized, you can restore staking.


Mining Software, Mining Pools and Exchanges

Mining Software
Basically all miners that support JHA. The following is a list with links
Original JHA miner source for CPU: https://github.com/rtc29462/cpuminer
Original JHA miner source for GPU: https://github.com/rtc29462/sgminer
GPU miner for amd by djm34, explanation and exe: https://bitcointalk.org/index.php?topic=584481.msg7485969#msg7485969
and source: https://github.com/djm34/sgminer-jpc
CPU miner: https://github.com/cbuchner1/ccminer/releases for NVIDIA users!
CPU miner: https://github.com/ig0tik3d/cpu-jackpotcoin
otila's CPU miner: https://drive.google.com/file/d/0B9h02pRWKaODQUFTOWdzbVJXZ2s/edit

To solo mine: for example using djm34's miner, just type:
# sgminer.exe -k jpc -o localhost:17571 -u yourusername -p yourpassword

Also these modules can be used to integrate with mining pools:
jackpotcoinhash python module for pool or stratum
https://github.com/rtc29462/jackpotcoinhash/
https://github.com/rtc29462/jackpotcoin_for_stratum


Mining Pools
http://yiimp.ccminer.org/


Block Explorer
http://sweepstakecoin.info:3001/


Exchanges

CoinMarkets
https://coinsmarkets.com/trade-BTC-SWEEP.htm (SWEEP/BTC)



NovaExchange

https://novaexchange.com/market/BTC_SWEEP/ (SWEEP/BTC)
https://novaexchange.com/market/LTC_SWEEP (SWEEP/LTC)
https://novaexchange.com/market/DOGE_SWEEP/ (SWEEP/DOGE)
https://novaexchange.com/market/MOON_SWEEP/ (SWEEP/MOON)
https://novaexchange.com/market/KIC_SWEEP/ (SWEEP/KIC)
https://novaexchange.com/market/ESP2_SWEEP (SWEEP/ESP2)



Bounties

Logo Contest: we are looking for a better logo, please post your design. There are two prizes:
- 1st prize: 50,000 SWEEPs, and the logo will be used as official logo for SWEEP.
- 2nd prize: 20,000 SWEEPs

Winners are:
1st prize: Vak for 50,000 SWEEPs
2nd prize: lucky80 for 20,000 SWEEPs

Thanks all for participating. Unfortunately dev team decided that the contested logo design is not good enough for replacing our existing one. So we keep our original logo.

I am always wondering this question. Of course from the computer science point of view, nothing is really random. You have a random function which may use system timestamp as a seed, or combination of mac address, computer architecture etc. So if I try to generate the bitcoin address using the similar conditions that Satoshi once had, maybe I can generate his address with a larger probability and may succeed one day, and get his lost treasure, lol. Though sounds not easy, but it is still possible, right?

I observed that many shitcoins come out on a daily basis. I call them shitcoins, because you can see clearly they are copy-and-paste coins, with nothing new other than some changes of parameters, and usually huge amount of premines. The devs aim at quick dump and try to make some money.

When these coins hit the exchanges, often there are some pump and dump. Someone, artificially pump the price for a while, then he will dump, and many such coin the price will go to 1 sat, with no one buying, usually it's the dead of the coin. The "dev" may start another coin etc.

Question is: how can these people make money? initially, there will be some people mine the coins, and they will dump all once the exchange exist. If dev artificially pump the price, will any people really follow him and buy?? I won't imagine there are people so stupid and let dev with huge premine to dump. So I think dev's pump is useless as those who mined the coin will dump regardless. But why I still see many pump then followed by dump in these shitcoins??

I read the recent whitepaper from SuperCoin's thread, it looks to me that this is the true p2p decentralized trustless system. I don't see problems there. I welcome anyone to point out defects of this system, so we can understand better the trustless system and how to implement it.

I always believe that multisig tech is the only tech that will make the trustless system possible. And thanks to Supercoin dev, the trustless system is implemented and I am looking forward to testing it.

Below is the original post by supercoindev for references:

Here is the 2nd part of the whitepaper, which gives a high level in-depth view of the trustless algorithm we use. Please refer to the part 1 if you need to understand some terms. Part 1 is here:
https://bitcointalk.org/index.php?topic=618552.msg8272890#msg8272890

==
The following diagram shows a high level description of the trustless system algorithm. It shows the “normal” case where everything goes as expected.




The next diagram shows the case where, after step 6, the Sender is not satisfied with the Mixer’s txid. This could happen if the Sender cannot verify Mixer’s transaction, or Mixer did not send enough funds to the destination. In which case Sender asks Guarantor to do the arbitration. The new scenario are marked in brown lines and explained in the diagram.



There are other possible scenarios, that we will describe in the next parts, where we will show details of the algorithm and steps. But from the above two cases you see why multisig is tightly linked with trustless system and how it creates a bonding among all parties where they have to follow the anonymous transfer rules.

OK due to many fuds I re-open this thread as self-mod thread and closed the old thread. All fuds and unreasonable posts (such as personal attacks) will be removed.

My purpose is not to attack any coins. My purpose is to seek the truth, as I myself am interested in the trustless anonymous transaction system. So please, state your facts, let's discuss, and let's understand the truth.


Well Cloakcoin claimed that their PoSA is a trustless system, but I read their whitepaper in the thread:
https://bitcointalk.org/index.php?topic=637704.0

It seems to me that this is not at all a trustless system. The reason is that the "elected" nodes have no restrictions at all to follow the rules (i.e. send coins to destination etc), he can change at will the transaction or even steal the coins. So the PoSA is a poorly designed trust system, which trust the "elected" node. Only until they cheated, they may be banned.

Creating addresses is easy, so a cheater can simply create a new address, cheat once, then move to another address and cheat again. PoSA is not a trustless system.

On the contrary, Supercoin is creating a trustless system by using multisig addresses and transactions. To be a trustless system, you must give restrictions to the middle nodes, so they must follow the rules. From what I read, the SuperCoin achieves this by creating multisig address, as an escrow, each party including middle nodes, have assets in the escrow, so they can't cheat, or they may lose the assets in escrow, which may be bigger than what they cheat.

I am not associate with Supercoin or Cloakcoin, the reason I do not post these in Cloakcoin's thread is because their thread is self-mod, so they can delete anything at will.

I welcome Cloakcoin dev to discuss here and prove me wrong, as although I am pretty experienced and understand most altcoin details, I could be wrong. But from what I read, I am pretty sure that Cloakcoin PoSA is not a trustless system, but a poorly designed trust system.

[not]

Well Cloakcoin claimed that their PoSA is a trustless system, but I read their whitepaper in the thread:
https://bitcointalk.org/index.php?topic=637704.0

It seems to me that this is not at all a trustless system. The reason is that the "elected" nodes have no restrictions at all to follow the rules (i.e. send coins to destination etc), he can change at will the transaction or even steal the coins. So the PoSA is a poorly designed trust system, which trust the "elected" node. Only until they cheated, they may be banned.

Creating addresses is easy, so a cheater can simply create a new address, cheat once, then move to another address and cheat again. PoSA is not a trustless system.

On the contrary, Supercoin is creating a trustless system by using multisig addresses and transactions. To be a trustless system, you must give restrictions to the middle nodes, so they must follow the rules. From what I read, the SuperCoin achieves this by creating multisig address, as an escrow, each party including middle nodes, have assets in the escrow, so they can't cheat, or they may lose the assets in escrow, which may be bigger than what they cheat.

I am not associate with Supercoin or Cloakcoin, the reason I do not post these in Cloakcoin's thread is because their thread is self-mod, so they can delete anything at will.

I welcome Cloakcoin dev to discuss here and prove me wrong, as although I am pretty experienced and understand most altcoin details, I could be wrong. But from what I read, I am pretty sure that Cloakcoin PoSA is not a trustless system, but a poorly designed trust system.

DUE to many fud, I re-opened the thread with self-mod.
https://bitcointalk.org/index.php?topic=713836.0