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I am proud to introduce V SYSTEMS, a project aiming to bring the Virtual Economy Era one step closer. During the development last year, the team worked hard to develop a new blockchain model based on the Supernode Proof of Stake Consensus system. Now we want to make sure that we have the necessary corporate structures in place to take the project to the next level. V SYSTEMS will allow us to achieve the next stage of our vision. I would also like to take this opportunity to say a big thank you to the project team for their dedication and commitment. The team has made huge strides toward making our vision a reality. There will be more detailed development updates coming from the V SYSTEMS team, but today I want to highlight some of the progress: - The new Supernode Proof of Stake Consensus (SPOS) is more resistant to 51% attack than Proof of Work Consensus (POW).
- A flexible smart contract system is under development that will allow support for different languages.
- Database functionality is being developed in stages with close integration with smart contract system in mind.
From today, the team will be updating the community on the progress of project V SYSTEMS. While the company may be new, our vision and mission remain the same. We want to solve the scalability and cost issues that are holding back the true potential of blockchain technology. Through our efforts we are laying the foundations for a future where blockchain databases provide the fundamental infrastructure running businesses, economies and perhaps society itself. Today we make an important step toward accomplishing such a vision. Cheers! |
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https://github.com/primecoin/primecoin/wiki/Primecoin-Reaches-13-primes-MilestoneSeptember 16th, 2013 For immediate release On September 10th, only two months after Primecoin started its operation, it achieved yet another important milestone with a record-shattering 13-primes. The record prime chain is found at block 159217, with a 94-digit Cunningham chain of 2nd kind as its proof-of-work. The new world record has already been confirmed by Jens Kruse Andersen, the maintainer of world's simultaneous primes record book. Primecoin now holds 4 out of the 21 existing world records in simultaneous primes, namely the 10-primes, 11-primes, 12-primes and 13-primes records, while the old-time favorite distributed computing network GIMPS (Great Internet Mersenne Primes Search) holds the 1-prime record with its 17-million digit Mersenne prime discovered in January of this year. Primecoin network launched on July 7th, with an unique proof-of-work system designed around searching for prime number chains, known as the Cunningham chains and bi-twin chains. It introduces the first proof-of-work system for cryptocurrency with scientific computing value. Number theorists have been searching for prime number chains and formations for many years before Primecoin. Dr. Dirk Augustin, an expert on Cunningham chains and notable record holder of 5 out of the 21 world records, from 5-primes through 9-primes, enthusiastically congratulated Primecoin's breakthrough after its launch. 'I am very glad to see that the Primecoin project increased the interest in searching for prime chains, something I am doing now for over 10 years,' says Dr. Augustin. The new 13-primes record came early as a bit of surprise, according to Sunny King, the architect and lead developer of Primecoin project. Originally it's estimated that it could arrive around the end of the year. However the network got a bit lucky. The new record almost doubles the length of previous record, a prime tuplet found by Roger Thompson earlier this year. Interestingly, someone has yet to claim to be the discoverer of the world record. As a cryptocurrency network similar to Bitcoin, Primecoin also offers strong protection of privacy. The 'miners', users that searches for the prime proof-of-work for the network, are often incentivized by the currency value alone. Primecoin is currently mined by CPUs of many thousands of personal computers around the world, in contrast to Bitcoin, which saw a swift shift from GPU mining into ASIC mining this year. As a cryptocurrency network, Primecoin natually provides incentive to the development of prime searching software and continued improvements to prime searching techniques. Although a 14-primes record would seem out of reach to Primecoin network for many years at current pace, with further advancement of its mining software, it could once again arrive earlier than expected.
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In v0.1.2 release: - Miner performance improvement. This release includes several miner performance improvements, which have also been incorporated into several miners on the market. The official client is not expected to be competitive with market solutions, so serious miners should explore the current best performing miners on the market.
- chainsperday estimate is included in getmininginfo output. This stat is experimental so it should not be taken as an accurate estimate of prime chain rate of the miner.
- listprimerecords command for users to check all record primechains in Primecoin network.
- Miscellaneous gui and bug fixes.
This release is not mandatory. Upgrade Instructions: - Backup wallet and take note of balance.
- Uninstall previous version.
- Set up the new version v0.1.2.
- Start up primecoin and check wallet balance.
Contributors to the release: David L. Unger geeknik joebauers mikaelh Sunny King Cheers! Update: Windows+Linux builds ready at https://sourceforge.net/projects/primecoin/files/ |
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I am happy to announce that mikaelh has agreed to join the Primecoin core development team and share responsibilities with me for future development and maintenance of Primecoin network.
It is well known that Mikael's high performance edition of primecoin client now accounts for a majority of solo mining market in primecoin network. Since primecoin's release, Mikael has been working diligently to improve on miner performance with a proven track record. There is no doubt his work has already established reputation in the market and demonstrated his capability. It is my honor to have Mikael join me in primecoin core development team, let's all cheer for his excellent work and looking forward to his future contributions!
Cheers!
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In v0.1.1: - Improved built-in miner performance
- Minor GUI display fixes
Credits to those who also contributed to this release: Mike270 pankkake Reed G. Law This is not a mandatory upgrade, but for miners it is recommended to upgrade. Instructions: - Backup wallet, record your balance.
- Uninstall v0.1.0.
- Set up v0.1.1. Double check you balance is correct when client starts.
Have fun! http://primecoin.orghttps://sourceforge.net/projects/primecoin/files/Update (July 13): Linux build is now ready for download. |
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I am thrilled to see the level of enthusiasms for primecoin in the mining market. I suspect maybe we already broke some world records but hadn't the time to fully research this. So I hope more of you can keep an eye on this and keep the record book updated  The Cunningham chain record book is maintained by Dirk Augustin here: http://users.cybercity.dk/~dsl522332/math/Cunningham_Chain_records.htmThe bi-twin chain record book is maintained by Henri Lifchitz here: http://www.primenumbers.net/Henri/fr-us/BiTwinRec.htmUpon a quick examination I have found that 2CC09 is the first world record claimed by primecoin:
Block #2044 New World Record for 2CC09 (131 digits)
Block #5355 New World Record for 2CC09 (158 digits)
So for the miners of #2044 and #5355 please step up and give us a proof you are the miner and the name you would like to be written for the record book To look up if you are the lucky miner who mined a new world record you can go to help->debug window->console and typevalidateaddress <record_holding_address>If the validate shows 'ismine' as 'true' that means you own that address.Note: Since v0.1.2 one can use the 'listprimerecords' command to quickly check ownership of the records. The 'ismine' field indicates whether the wallet owns the given record.You can check and verify these records at http://primecoin.21stcenturymoneytalk.org/ (primality tests and queries through Wolfram Mathematica courtesy of Petr1fied)References: A summary of current Primecoin records and milestones is here:
https://github.com/primecoin/primecoin/wiki/World-records |
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I am happy to announce that the primecoin project is now close to beta quality and will be released to public soon. Please keep in mind this is experimental technology and we reserve the rights to rollback or restart the blockchain should severe bug/vulnerability require such actions. However we would try our best to avoid such scenarios and further develop it into reliable public infrastructure. Introducing primecoin- First non-hashcash proof-of-work in cryptocurrency, pure prime number based proof-of-work
- Cpu mining at launch, gpu mining to be developed by market participants
- Pure proof-of-work, no proof-of-stake (unlike ppcoin), not energy efficient, but with additional potential scientific value derived from proof-of-work energy consumption (energy multiuse)
- Scarcity enforced by Moore's Law similar to ppcoin, mint rate gradually drops as difficulty rises, without sudden halving shock
- Security model similar to bitcoin
- Continuous difficulty adjustment like ppcoin
- Reasonably high starting difficulty to limit instamining
- 1 minute target block spacing
- Zero premine, zero tax
ppcoin + primecoin- Sharing the same goal of real innovations, moving cryptocurrency technology forward and demonstrating our technical capabilities
- Sharing the same value, open source, no premine, no tax, advancing cryptocurrency technology for humanity
- Cpu mining initially for primecoin to cater to a larger mining community, now covering all mining hardwares with both ppcoin (gpu+fpga+asic) and primecoin (cpu)
- New innovations in primecoin catering to a wider audience including the mathematical and other scientific computing community, and users who prefer pure proof-of-work cryptocurrencies.
- Sharing development resources and infrastructures
- Different innovative cryptocurrency designs provide cryptocurrency investors with diversified advanced technology portfolio
- Strategic positioning for the next 5 years in cryptocurrency market
ppcoin vs primecoin- ppcoin is our first innovative cryptocurrency design to focus on energy efficiency. Almost a year after its release ppcoin's design remains the only proof-of-stake design on the market, with seven forks/clones (NVC, BTB, YAC, BTG, BOT, CGB, YAB). primecoin is our second innovative design to focus on alternative proof-of-work system producing additional scientific values. The two networks would work in synergy to achieve our long-term cryptocurrency strategy.
- Cryptocurrency market has now split into two sectors, energy intensive sector and energy efficient sector. In the longer term (5+ years) I believe the energy efficient sector would begin to challenge the energy intensive sector due to its cost advantage. In the shorter term though energy intensive market would likely remain dominant and we would like to have an innovative and competitive offering in this sector as well. The innovations in primecoin give us this opportunity, and would complement ppcoin to strengthen our strategic position in the market.
- The energy intensive sector currently has two major types of proof-of-work, both of the hashcash type, one is SHA-256, the other is scrypt. There have been some new variations of the hash functions recently, with modified scrypt and SHA-3 series hash functions as well, or even compositions of different hash functions. Though existing cryptocurrencies are all still based on hashcash proof-of-work. primecoin introduces the first non-hashcash proof-of-work in cryptocurrency, the first type of proof-of-work that not only secures the block chain, but also provides additional potential scientific value, paving the way for future proof-of-work types with more diverse scientific interests and uses.
- Both ppcoin and primecoin demonstrate our design prowess and capability in real innovations. We are fully dedicated to provide long term support and further development to both cryptocurrencies.
- For existing ppcoin users our dedication to the continued development of ppcoin and its market has not changed. ppcoin's advanced proof-of-stake technology has long-term advantage over pure proof-of-work designs, and is an innovative environmental-friendly solution to the escalating energy consumption on cryptocurrency. In my opinion the energy intensive sector will fragment into many different types of proof-of-work, a single type of proof-of-work is unlikely to maintain dominance. More fragmentation is likely even within a single type of proof-of-work. Meanwhile the energy efficient sector would rise to challege the energy intensive sector, and ppcoin is among the leading contenders in the energy efficient sector. So in terms of our long term strategy ppcoin is of more importance than primecoin.
Release SchedulePrimecoin release is tentatively scheduled for 2013 July 7th 18:00 UTCUpdate: 2013-JUL-07: Primecoin blockchain now up and running. Main discussion thread at: https://bitcointalk.org/index.php?topic=251850.0Thanks for your support  |
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Sifcoin (SIC) is a new coin currently with CPU mining only. It presumably introduced 6 hash functions composed for proof-of-work. I have added it to PPC Marketplace ( http://ppcoin.org/market) to help its users to trade. Good luck SIC! |
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PPC Marketplace thread is here: https://bitcointalk.org/index.php?topic=224012.0In this thread I introduce the 'PPC rating' for the marketplace on ppcoin.org. This is intended to be a web-of-trust rating system. The way it works is that forum users can post ratings of other users in this thread. Only posts in this thread will count in the marketplace. The rating format is, you can say 'ppc market rating 1000 Sunny King' to mean that you can trust me with 1000 PPC worth of trading risk. This sentence must be posted on one line without other words, also note the capital letters and spaces in the username. The words 'ppc market' can be omitted.If you say 'ppc market rating 0 NewComerName' that means you don't know about this identity, this is the implicit trust state between users if ratings are not previously posted. If you have been scammed by someone you can say 'ppc market rating -100 ScammerName' then other users would understand that you had bad experience with this user and lost around 100 PPC worth of value. Some valid examples: ppc market rating 1000 Sunny King
rating 1000 Sunny King
PPC Market Rating -500 scammer
Rating -100 Spammer
Again, note the capital letters and spaces in username are significant per bitcointalk rules. But you can freely use 'PPC' and capitalize the first letter of words 'market' or 'rating'. If you want to change your rating of a user, you can either edit your old rating post, or make a new rating post. It is then understood your old rating is updated. If rating of the same user appears on multiple lines of the same post, the line below overwrites the lines above. The number in the rating should be whole number (no fractional) bounded by -2 billion and 2 billion.The ratings will be displayed on PPC Marketplace in the future. Have fun Update: [BONUS GIVEAWAY CLOSED 2013 JUNE 30]To help me get started testing the rating system, I'm giving away 10PPC bonus each to the first 20 users making a rating post. Qualifications: - Must contain at least one rating line
- Must rate at least one user not rated by anyone else before you
- PPC address on the first line in the same post
Bonus is paid out every day, so please expect a delay in bonus payment. |
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Bitgem (BTG) is the 4th PPC fork (after NVC, BTB, YAC). Although it doesn't have much innovation the dev appears to be actively maintaining it. An active fork of PPC is an acknowledgement of our work and let more developers get familiar with PPC's design and code. Bitgem is not currently traded on an exchange. So I added it to PPC Marketplace ( http://ppcoin.org/market) to help its users to trade. Good luck BTG! |
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This marketplace is intended to encourage our users to trade using PPC as a currency. Now limited testing of minimum functionality at http://ppcoin.org/marketSupport posting buy/sell offers for given asset type. Support user created asset types. If you are a new altcoin supporter you are welcome to trade it with ppcoin in this marketplace. Please note: the marketplace is intended to address user-to-user trading, currently only support trading among bitcointalk forum users. More features would be introduced to better support user trading. It is not meant to be an all-inclusive marketplace like amazon/ebay. We do not manage user accounts/personal information. Please exercise care and common sense when trading with other forum users. We are not responsible for your loss due to trading dispute/scam. The offers listed on the marketplace should not be interpreted as contract obligation, please contact the listing user for further information. Please report bugs in this thread. Have fun! Update: rating thread is up at https://bitcointalk.org/index.php?topic=241054.0Update: XPM<->PPC trading start |
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Abstract: A proposal to relieve stake minter the risk of running online hot wallet. Description: This proposal is simpler than the previous dual-key proposal [1]. A special transaction type called cold-locked transaction is introduced so that a designated spending address is specified in its first output. Protocol enforces that, spending of any of the outputs in the transaction must be sent to this designated address, or to itself (for stake generation purpose). When stake is generated, the stake transaction is also cold-locked and the designated key in stake must match all designated keys where all the inputs come from. How hot wallet is protected: By providing a cold-wallet address as the designated spending address in cold-locked transactions, stake minter can now run their entire balance online in a hot wallet to earn 1% annual interest with minimum risk, while providing maximum security to the entire network. This would allow even the exchanges, pools, and other online wallet providers to participate in network protection without risking public assets, and reduce fees or even pay interest to its users. For public review and discussion. References: [1] https://bitcointalk.org/index.php?topic=115608.0 |
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Following is a summary of the Terracoin vulnerability I communicated to Gavin and Terracoin developer. It is now fixed in the latest Terracoin release.
Summary: Possible manipulation of difficulty by a miner collusion, or a direct 51% attack, to collapse the difficulty and block generation interval to almost 0.
Impact Level: Critical.
Description: because terracoin employed a very short adjustment interval of 30 blocks, while the target spacing is 2-minute, below is what I come up with as an experimental attack scenario (not tested yet but just for illustration purposes for now). The way the attack works is that a miner collusion attempts to artificially inflates the time span of each retarget section. When the collusion gains momentum theoretically for terracoin I think the difficulty will collapse and block spacing drops close to 0. This is because terracoin 1) didn't fix the time travel vulnerability 2) used a too short retarget interval.
diff --git a/src/main.cpp b/src/main.cpp
index 87b8abf..f28ea0b 100644
--- a/src/main.cpp
+++ b/src/main.cpp
@@ -1238,6 +1238,15 @@ void CBlock::UpdateTime(const CBlockIndex* pindexPrev)
{
nTime = max(pindexPrev->GetMedianTimePast()+1, GetAdjustedTime());
+ // If the time-travel vulnerability is present (nActualTimeSpan is
+ // computed between the first and last block of the retarget section)
+ // the following patch can gradually attract miners to join a 'collusion':
+ // inflate nActualTimeSpan on both ends of the retarget section
+ if ((pindexPrev->nHeight+1) % nInterval == 0)
+ nTime = max(GetBlockTime(), GetAdjustedTime()) + 105 * 60;
+ else if ((pindexPrev->nHeight+1) % nInterval == 1)
+ nTime = pindexPrev->GetMedianTimePast()+1;
+
// Updating time can change work required on testnet:
if (fTestNet)
nBits = GetNextWorkRequired(pindexPrev, this);
Acknowledgement: this class of attack was first disclosed by ArtForz in 2011 I think. It's well known among bitcoin developers and old-time altcoin developers.
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http://ppcoin.org/bitaddressWorks with ppcoin v0.3+ only. I have not tweaked the paper graphics so it's still bitcoin. But I like the bitcoin graphics so please just mark it for ppcoin if you print it out. Please report bugs in this thread 
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Official faucet is now operational on http://ppcoin.org/. Faucet has a regeneration period and each user can get 2 coins. Please post bug/outage report in this thread. Donation is welcome but please keep the purse below 5000 for now. Higher purse means faster regeneration. I don't solicit donations for our work so please only donate for the faucet, which belongs to the entire PPC community even though I maintain it. Here I would like to thank lightlord ( https://bitcointalk.org/index.php?topic=124369.0) and Liquid ( https://bitcointalk.org/index.php?topic=134993.0) for their selfless work on the faucet threads before the official faucet is available. Have fun |
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I don't know any website does this, so let's update it here maybe weekly. Please note market cap can vary wildly day-to-day so this is only a ballpark figure. If you know that my estimation is way off please post your correction. Current Cryptocurrency Market Capitalization Ranking Feb 28, 2013 (1 BTC ~ 30 USD) Currency Market Cap (in BTC)
BTC 10,000,000
XRP* 1,500,000
LTC 35,000
NMC 6,000
NVC* 4,000
DVC 2,000
PPC 1,500
FRC 600
IXC 500
TRC 300
* XRP estimate based on interlagos bid * NVC estimate excludes 110K destroyed coins. Mar 1, 2013 Update: dust has now included real time market cap on his website http://dustcoin.com/mining
Good job dust!
So I will no longer update the ranking here. |
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Ripple is 100% premined, true. But I believe it's an ambitious project born with a good purpose. In addition to its credit system ambition, it's also an alternative cryptocurrency design that does not consume lot of energy like bitcoin, the original goal that was my project ppcoin. Even though I think such a project might be doable on a bitcoin fork ala namecoin style, but that's not the point. The developers need income to support them, or a reward/risk that is competitive in the job market. Looks like ripple has a few tricks to package and sell their product, if they succeed this way it would speed up the development of peer-to-peer free-market a lot I think. So I am cheering for them, as I always believe we are all part of a big team. Since an exchange to bitcoin and altcoins are still not ready inside ripple, nor outside ripple, feel free to use this space to buy/sell ripples and experiment. Have fun and good luck OpenCoin ********************************************************** Offer will be updated periodically. PM me if interested.
Buying XRP in 10k lots or more
1,000,000 : 1 vs BTC
100 : 1 vs PPC
100 : 1 vs FRC |
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