It's basically just catia, we do have another developer but he doesn't get much time to work with us and catia ended up doing the vast majority of the work. But honestly catia is a genius so he didn't really need much help along the way, he understood what needed to be done and made it happen remarkably quickly. When we go fully open source we'll be able to expand the dev team and get more eyes on the code.

Thanks a lot LazyCoins Exchange! I appreciate your consideration of our coin for your exchange. Your platform is well designed and seems to have some impressive security features so I look forward to trading XCN on it. We are both just getting started so hopefully we can help each other succeed.

It'll take a while to get services like that, the M7 algorithm was custom made for Cryptonite.

I believe catia already tried changing it to this but it obviously hasn't worked:

"Cryptonite will download and store a copy of the Cryptonite block chain. A small amount of data will be stored in this directory, and it may grow over time. The wallet will also be stored in this directory."

A "small amount" probably isn't the best phrasing, in the future it might be quite large, but it'll probably take a few years before it even becomes more than a gigabyte in size. Keep in mind I'm only talking about the amount of data required to sync with the network, the longer a node runs the more disk space it will use up. To free up disk space you could just run resync to delete all the old data and start again, but we'll also have a prune/purge command which will delete old blocks without requiring a resync.

Well as the authors we think this is the best course of action, and investors will simply have to buy it from miners at free market prices instead of paying arbitrary prices.

Please try to make it reasonably different, there are already enough things close to cryptonite.

It might not be written in the thread but if you download the test client you will see it uses XCN, and it has been using XCN for many weeks now. There's no reason you should require that exact currency code.

We're already dedicated to a coin with no pre-mine, no ipo, or anything else like that, and we're not going back on our word now. It's very tempting to just cut ourselves a slice of the pie before anyone else gets a piece, especially considering the amount of money spent on development so far, but I don't want to do that because it damages credibility and people pay more attention to fair coins.

Yeah I'll get that RSS thing fixed in the next release. Still not sure when the next release will be since I'm quite busy with Cryptonite at the moment.

I have to respectfully request that you change the name and currency code of this coin. As mentioned by rethink-your-strategy, I am a week away from releasing a coin called Cryptonite, nearly 4 months has been been spent on development and it took us a long time to come up with a decent name which wasn't already taken. We have been publicly testing Cryptonite for a long time and we claimed the name and the currency code way before you announced this coin. So please, don't be a douche.

That's just a warning message left over from Bitcoin. It will be changed.

I'm guessing what you want is listtransactions.

Btw you guys may find this wiki page quite useful:

Cryptonite API

No.

Well for a start we wont have a blockchain which is hundreds of gigabytes in size in a short period of time. In fact we have the exact opposite, a highly scalable mini-blockchain scheme. But the one thing Cryptonite doesn't have is improved anonymity, it's just about the same as the level of anonymity Bitcoin provides. But if improved anonymity requires a blockchain as large as the Monero blockchain then I say we're better off without it. If users really want more anonymity they can use Tor and be careful about how they make transactions.

Same way you do with Bitcoin, use the setgenerate command.

It's much longer than 100 years, half of all coins will be mined in 100 years. But if they choose to turn away based on a quick glance then it's their problem.

Well then it doesn't really matter either way, the end result is the same, a smaller coin supply for the time we do use it.

Honestly I'm so confident in the features of this coin that I think it will market its self. I will try to do some marketing but I don't like using social networks like Facebook for marketing. But most importantly, I don't want to generate a bunch of hype and then have the whole network explode. It's important to keep in mind how experimental Cryptonite is, I'd rather wait until we have some traction before doing any serious marketing. And by that time we will also have some services such as mining pools and blockchain explorers set up. It will take a while to adapt current bitcoin-based technology to Cryptonite because it really does work differently to all the current coins on a low level.

Well there were time constraints but we also wanted to stick as close to Bitcoin as possible. Plus I don't exactly buy into the whole PoS thing. I recently read about one coin having to roll back their blockchain because someone owned too many coins. And the last reason is because we wanted to leave something for the clones to do. If we did include PoS then someone else would have made a pure PoW clone anyway.

Well the amount of power you burn up mining doesn't really depend on the PoW algorithm so much as it depends on the difficulty or how many people are mining. Memory hard algorithms might be a bit more energy efficient but M7 should use just as much energy as X11 if I'm not mistaken.

Well you can read the wiki and the features this coin has and make up your own mind. My opinion is that Cryptonite has many features which make it useful for actually conducting transactions instead of just holding. For a start we can handle more transactions and micro-transactions are feasible because of transaction prunability. And fundamentally Cryptonite is a more pure sort of currency, it's more like transferring money between bank accounts instead of treating the transactions like money by using scripts. And lets not forget that we've eliminated transaction malleability and have extra security features like withdrawal limits, which are both only possible in the mini-blockchain scheme. Cryptonite is purposely crafted to function as a powerful and pure form of P2P currency.

Well there's obviously CPU mining built into the client but it'll be solo mining only until we or someone else gets a pool online. It'll be a little be tricky to adapt existing pool software to Cryptonite since so much of the protocol is different.

Ok after carefully considering all your concerns about the total coin supply we decided to do something about it. We had several options but ultimately we decided not to lower the total coin supply, instead we decided to stretch out the time it takes for all the coins to be mined. So instead of having a 10 year half life, we have increased it to 100 years, meaning it will take 100 years before half of all the coins are mined. That should mean about 1 billion coins mined in the first year.

There are several reasons we decided to take this approach, first of all it's the easiest, and it mimics the same type of coin scarcity we would get simply by lowering the total coin supply. Secondly, this type of ultra long mining period will ensure a very fair distribution of coins over a very long period of time. Thirdly, a it's a more organic solution to the problem because we don't have to mess around with any constants and it comes with some advantages such as fairer distribution.

As mentioned previously in the thread, a GPU miner will probably not be available upon launch, but there will be one eventually. It's better if the coin remains CPU only for a period of time anyway because it makes it fairer.

There's no reason you can't do the opposite thing and use larger units to denominate values.

Maybe that's just because there have been no innovative coins which use billions of coins? I don't think having billions of coins really has anything to do with why a coin will fail.