[---- GadgetCoin ----]

---- GadgetCoin ----
Digital currency for hardware, Internet of Things and M2M.
Zero pre-mine. Coin forging starts in June 2015
Total coin supply 97,210
Written from scratch in C, C++ and NodeJs.
Instant transactions, transaction time is under 1 second.
Smart Contracts.
No mining. Proof of Consensus algorithm (check out our white paper).

QQ Group 148838719

Light, web UI wallet source https://github.com/gadgetnet/gdcwallet

According to Atmel, there will be 50 billion devices connected to the Internet of Things by 2020 and we aim to target this market.

Our first application

GadgetNet - Peer to peer Video Streaming

Handling video streaming IoT devices and web-cams for porn and gaming broadcasters

Our first partners using the GadgetNet technology are

 

www.streemo.net   and   www.jizzmo.net

GadgetNet P2P Streaming Explained

Gamechanger for Adult Streaming

Peer to peer video applications

Watch our introductory video!

Web site
http://www.gadgetcoin.org/

HTML5 Light Wallet at wallet.gadgetcoin.org

Anyone can forge GadgetCoin - no investment is required.

Read about forging

Our development board

The developers believe that it is absolutely essential to provide support for hardware integrators and we are releasing our very own development board. Currently the development board is being manufactured and we aim to start selling it in Dec 2014.
We are targeting large companies, hardware integrators and the +10 million strong Arduino, Raspberry PI and Beaglebone Black hobbyist user bases with our development board.
Specifications:

• STM32F4 ARM processor
• 1024 kb flash
• 192kb RAM
• Embedded Zigbee and WiFi low power radio chips
• Comes with GadgetCoin firmware
• FreeRTOS or Nucleus RTOS (for commercial clients) options
• Implements the Gadget Protocol

Download the schematics

The Proof of Consensus protocol

1. Manages transaction processing by performing transaction audit and approval.

2. Orchestrates a network wide counter-attack against malicious nodes.

3. Governs the distribution of the network fees. The GadgetCoin network charges hardware and Internet of Things devices a network fee for using the system. The collected network fees are fully shared with the peer nodes that validate and process the transactions. Only the transaction processing nodes will be eligible for network fees.

4. Allows fair coin distribution. All honest peer to peer nodes that participate in transaction processing can forge GadgetCoins - apart from the yearly interest, that's how new GadgetCoin supply enters into the market. The Proof of Consensus protocol provides incentives for keeping the network safe and assisting transaction processing.

The Gadget Protocol

The industry needs a protocol to facilitate communication between hardware and peer to peer networks. The Gadget Protocol defines the rules, syntax and semantics of the communication of hardware and decentralized peer to peer networks. By using the easy to understand and popular JSON lightweight data-interchange format to describe the protocol. Rules for data formats for data exchange, methods, callbacks, routing, authentication, access control, error codes and error handling.

We have approached the world's largest companies including IBM, Samsung, Sony, Siemens and Phillips to recommend our protocol for industry wide recognition. We will try everything we can to make our project relevant, get large industry players on board to adopt our open source smart contract technology.

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All bitcoin blockchain explorers provide very quick transaction lookup functionality. I heard from someone in this forum that the the merkle tree allows the quick transaction lookup. I also read that the blockchain explorers actually maintains a relational database to store the the transaction data and that allows a quick lookup. My understanding was that the merkle tree itself is there to store the transactions in a verifiable manner instead of for quick transaction lookup. How the blockchain explorers actually works?

Do you know if Peter Todd's OP_CHECKLOCKTIMEVERIFY will be ever integrated into the Bitcoin source or is it a VIACOIN specific design?

Should be such innovation considered for Bitcoin as well?

I read a few discussions in this forum when experienced devs and community members said that there are ways and even services built on the Bitcoin network to speed up the confirmation time. Someone said that even instant confirmation is possible using some kind of trusted node or some other mechanism. I read those comments but never came cross with the specifics, so I am not sure what are the options and methods to speed up the confirmation time (if any).
Would you let me know please how the Bitcoin confirmation time could be speed up (even with a third party service) and if that is possible at all?

This is just a question to understand the underlining technology and concept. If I understood correctly transactions (such as sending Bitcoin from an existing address to another address) must be included by miners in a newly mined block. What's going to happen when no one is mining any more, so there is no new block, in what block will be the transaction included? I have been reading the wiki and tried to understand the concept before posting here this noob question but I don't understand how payments will be made if there are no new blocks, for example when all blocks are mined. I read on the wiki that in Bitcoin new blocks will be created even after the last block is minted, but I am having difficulty to understand how that will happen. I guess at the time when all blocks are created in bitcoin then it will be incredible difficult to create a new block or is there some way to create a block just to include the transaction?

There are lots of hypes around Ethereum's smart contracts, but I read somewhere that it is already possible to create contract using bitcoin's OP_RETURN. I am very inexperienced in this field and I was just wondering is it possible to implement contracts and smart properties with the OP_RETURN 40 bytes in the transaction? Is there any sample applications or white papers that describe such use case? If not, do you think would it be a good idea to put together a UML based design document that describes how contracts and smart properties work using OP_RETURN 40 bytes field? I would be happy to start working on a UML document if the experienced members of the community think it is a good idea, and more importantly if I could get some help or pointers because I have no idea how OP_RETURN works.