Graham, d5000, muf18, thank you very much for your insights and your thoughts about the future development of Slimcoin. Very interesting!

Until now, I didn‘t realize that SPV wallets are impossible to implement for UTXO blockchains with proof of stake. But unfortunately it makes perfect sense. Too bad, because if adoption of Slimcoin grows, people would expect a „slim“ lightweight wallet of „Slim“-coin.

Thinking about it, even worse, probably SPV wallets are also impossible to implement for UTXO blockchains with proof of burn like Slimcoin, right? You need the history of all burn transactions to verify a block. Is that correct?

Summarizing, what you’ve said about updating Slimcoin‘s code, we will either be capped at core v0.9 or face a lot of development work which equals the creation of a new coin by forking the codebase of an existing codebase, right?

So unless we accept to live with the codebase of v0.9 we would have to create a new coin. I personally wouldn‘t mind this, if it involves some mechanism to migrate Slimcoin‘s balances to the new coin (think „airdrop for Slimcoin holders“). At this time we don’t really have to bother about existing exchanges that already list Slimcoin.

If we go that route, I would suggest to pick a new coin as codebase, that is actively developed and could be easily modified to include Slimcoin‘s proof-of-burn mechanism and the web2web code. A codebase that would allow for lightweight wallets would be even better (but probably that’s not possible).

Any thoughts?

Yes, these are the implications of decentralization.

So it looks like our development resources are quite limited. So Graham, what do you suggest - should we aim at updating Slimcoin's code to modern Bitcoin code? And if yes, how?

Hm, but there are many coins with less than $1000 daily trading volume:

https://coinmarketcap.com/exchanges/coinsmarkets/

Doesn't make sense to me.

Der Coin nimmt nach langer Zeit an Fahrt auf. Vermutlich weil er demnächst eine dezentralisierte Web-Lösung bieten wird. Slimcoin wird diese Tage vor allem auf coinsmarkets.com gehandelt. Es sind nur relativ wenige Coins in Umlauf (~ 16 Mio) und die Marktkapitalisierung ist super niedrig ~1 Mio USD.

@d5000: I think we have to decide on one of two routes for Slimcoin:

1. developing Slimcoin closely tied to another Cryptocurrency. In that case Slimcoin should probably only be different to this Cryptocurrency in a few points, e.g. proof of burn and web2web. It would be like Litecoin, which is tied to Bitcoin. Since Slimcoin is a fork of Peercoin, one could tie Slimcoin to Peercoin. The big advantage of this is the low programming effort involved. The disadvantage is less flexibility and a much weaker USP.

2. developing Slimcoin indepently from other Cryptocurrencies. In that case we can implement whatever the Slimcoin community wants. However the programming effort will be huge, because we cannot benefit from developments in the original forked code.

So this leads me to following question: how big is Slimcoin’s development team anyway? How many people are there? And what share of their time are they investing to Slimcoin?

Thank you for your insights!

@d5000: Thank you for your detailed answer! I really appreciate it.


That‘s a valid point. I didn‘t realize that Cryptonite‘s mini-blockchain scheme has no scripting ability at all. I agree that it’s important to have scripting. I also agree that Slimcoin will benefit from supporting atomic swaps.


I‘d like to emphasize that a small efficient blockchain is more important than the versioning feature. After all a small blockchain is the basis for decentralization. And that‘s what cryptocurrencies are all about!

But I understand that improving Cryptonites mini-blockchain scheme is too much effort.


These are good proposals! I really would like to see more effort to make Slimcoin really slim. As the name suggests Slimcoin should have a small footprint. Let‘s make its blockchain as small as possible! Let‘s make the synchronization as fast as possible! Any step towards these goals would be great. I think more important than adding to funtionality is improving performance and efficiency.

Having „Slimness“ as a long term goal would be great! It would give the whole project a direction and a core volue. We could evaluete new features by asking the question: „does it make Slimcoin slimmer?“

Then don't prune the OP_RETURN data. We could extend the mini-blockchain scheme to support key/value storage. The paradigm would be: "Just keep the final states. Forget about the old states." Do we really need to keep all history data in the blockchain? Is that "slim"? I don't think so. If we prune all old status updates we will free up 99% of the obsolete data in the blockchain and give room for the relevant data. So we're reducing the footprint of the wallet, making it more compact and more efficent. That would be "slim"!

Thank you for your answer! Are the concepts of the mini-blockchain scheme and the concept of the decentralized web really mutually exclusive? I thought the web2web service uses the blockchain just as a directory service and the actual website data is stored in a torrent? (maybe I’m mistaken here. Sorry I couldn’t find much information about the web2web publishing part) I think it‘s possible to apply the concept of the account tree of the mini-blockchain scheme to stored key/value pairs in the blockchain. Just like the account tree forgets about old account-states, it could forget about old values of keys. In this way you can store data in the mini-blockchain and minimize its footprint. To keep it „slim“, so to say.

Graham, you're right. Any truly decentralized system is free from having a well defined unchangeable goal. Slimcoin is no exception. However, if there's a majority with a common goal, it is very likely that this goal will be pursued.

So there's the question to all of us:  What is Slimcoin for you? What do you think Slimcoin's vision should be?

For me the answer lies within Slimcoin's name. Slimcoin should be a "slim" cryptocurrency in all respects. It should be a cryptocurrency for all users and all devices - even for devices with very limited capabilities. Proof-Of-Burn is a fantastic startpoint because it enables everyone to mine independently from CPU-power. That's great!

A next (big) step could be to reduce the disk-space usage of Slimcoin to a minimum. This would be possible if Slimcoin would switch to mini-blockchain scheme (http://cryptonite.info/wiki/index.php?title=Mini-blockchain_scheme) like Cryptonite. Then Slimcoin would be really slim! You could have a wallet that runs on an old smartphone, synchronizes in 5 minutes and starts to mine on that device!

I've got enough karma to post there. I'm currently on holiday - so maybe I'll find the time to write something interesting.

Btw, I'll send you a private message in a minute.

Don't worry, I know and I really appreciate what you guys are doing here! Thank you and keep up the great work!


1000 USD per day is feasible. Maybe we should write a nice article about Slimcoin and post it at r/Cryptocurrency.

I wish I could say no. For many people coinmarketcap.com is the first stop to check out a cryptocurrency. Alexa lists the site with a global traffic rank of 194. So if we care about the adoption of Slimcoin we should care about its status on coinmarketcap.com.

Looks like novaexchange has finally been removed from coinmarketcap.com. Since the trade volume from coinsmarkets.com isn‘t shown on coinmarketcap.com, coinmarketcap.com now tags Slimcoin as „inactive“. Too bad...

Thanks for letting us know, chrysophylax!

So is there any active exchange, where one can buy XCN?

Is there no active exchange left? How about AEX or BX Thailand?

@johnn_le: I posted the almost same question on reddit and got following answer:

In 300 days you should make back your 1000SLM, in 1.5-1.8 year, you should make about 1.7x-2x of your investment, but it depends on several factors (difficulty of network is the most important) We are actually working on a calculator, which will include several factors into calculations.

https://www.reddit.com/r/slimcoin/comments/7la49c/now_slimcoin_community_account_is_here/