It has been 2 weeks from last post in this tread. Are there any updates ? Dev is actively working on Monero project but this one seems to be a bit neglected.
I am actively working on this more than MRO right now. I will try to push some basic code outlines this week, then hack away until regtest is functional. Stay tuned. |
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Thanks for the update! I'll try it out now too. Maybe you or someone explained this already, but how does the regular update work? Does it restrict tx sizes by denying large size transactions and couple the larger ones with the higher fee? Or are all tx's going to have the same fee you set regardless of size now? What's different with the experimental update 0.8.8? Does it scale on the medium block size or something?
It's a fairly severe bug introduced by TFT. The penalty free block size is the median block size (right now ~20kb), and block reward decays exponentially with block sizes that are larger than the median block size. The maximum block size is 2 * median block size, and as you approach that you rapidly approach a reward of zero. When TFT replaced the old tx mempool getblocktemplate generating code (which had a bug that caused blockchain halting), he made it so that all tx would be included in blocks regardless of the penalty they incur. This is why we're seeing problems now with block reward. In my update, I have limited the maximum possible penalty incurred to about 9% of the block reward (so at worst instead of 16.5 you get ~15.0 MRO, and aren't penalized any more than this). The median block size will now grow more slowly. The ideal behaviour, as proposed in the cryptonote paper, is to only include tx with fees large enough to compensate for the penalty. I'm not sure this would even work as they intend as the incentives are kind of bizarre (it probably incentivizes hoarding tx and not sending them to other miners so you can reap larger rewards). I will be working on a more elaborate fees and penalty algorithm for the mempool, but this will have to do for now. The severity of the issue may be directly observed here: http://monerochain.info/charts/reward |
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Reminder for pool ops wanting to use the experimental version with fixed block reward/mempool algos, follow these instructions for linux: git clone git://github.com/monero-project/bitmonero.git
cd bitmonero
git remote add upstream git://github.com/monero-project/bitmonero.git
git checkout --track origin/0.8.8update
mkdir build
make -j4 |
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^^^ I will come out with a MIP for it (it's MIP0003), we will debate it there. Right now there's just a placeholder. I'm starting to lean towards tiny exponential inflation when we hit ~1% inflation per year. https://github.com/monero-developers/mips |
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Some additional features were added to my 0.8.8 branch: - Merged in latest PR - Temporary fix for block reward penalty being too large https://github.com/monero-project/bitmonero/tree/0.8.8updateThe latter is important for pools or miners who have been having issues with low block subsidy due to block sizes being too large. This new update will allow for the slow increase of median block size until we have a proper fees calculation, which will take more time. The codebase appears to be relatively stable, as me and several others have been using it without issue, but I would like more comments. Upgrade at your own risk. Please note if you're using this daemon for mining, you will reject all tx with less than the minimum fee (5 * 10^9 AMU). If you're using zone117x's pool, you will need to adjust your fees in your config file: to "transferFee": 5000000000, or else your payouts will not go through. |
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But I don't see much incentive to continue work on the wallet with current RPC functionality if I can't, for instance, retrieve the user's wallet address with RPC.
https://github.com/monero-project/bitmonero/pull/14I will merge that in soon, just need to test it a bit more But you're welcome to try it for yourself. |
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I simply wouldn't invest in Monero because anyone can clone Bytecoin and make their own cryptonote coin, no innovation has gone into Monero like with Bitcoin forks.
There are 4 Bytecoin clones and they are, Monero, Quazarcoin, HoneyPenny, and FantomCoin. They all have the exact same code and were forked from Bytecoin's codebase...What makes any of them special or different from the other, and future cryptonote coins to come?
I would say this is inaccurate. Monero code has been worked on by many different developers. We optimized the slow_hash code roughly 16 fold and continue to create bugfixes for the chain while keeping the code up to date with what ByteCoin is offering. A bunch of our commits have already been integrated into the ByteCoin master. Additionally, the Monero community generously donated what is now more than ten thousand USD to support the generation of the first open source pools and GUI for cryptonote coins. The major pool developer zone117x (NOMP) has gone from wanting his bounty in BTC to wanting it in MRO over the past couple of weeks, and looks forward to continuing to optimize CryptoNote pools. |
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I read it and frankly still on fence, as QCN (being a clone) seems to worth more then MRO atm?
QCN emission is slowed, so less coins are issued each day. As time goes on, it's more likely that MRO will increase in valuation comparatively (months to years), as MRO reward drops much more quickly. Although the emissions curve was hotly debated in the beginning, I'm going to guess that it's what ends up making MRO the dominant cryptonote currency in the long term. So far, issuance of MRO has been nothing but fair: http://monerochain.info/charts/coinsAnd our hash rate continues to grow exponentially: http://monerochain.info/charts/hashrate |
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very important changes! i'll be testing  Thanks, I will try to add a fix for block subsidy today too, which should help the problem with some blocks having very low reward from pools. |
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0.8.8 Test branch has been created after reviewing the code released from ByteCoin recently and merging the relevant changes. https://github.com/monero-project/bitmonero/tree/0.8.8updateChanges: - JSON RPC v2.0 compatibility
- JSON RPC over TCP added- Further optimizations
- Fixed a bug with checkpoints behavior
- UI improvements for daemon
- Fixed COIN value (10^12)
- Raised minimum fee to (1/2) * (10^10) If you're feeling brave, give it a spin. If everyone reports it to be stable after a few days, I will merge with master. |
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Hey guys, in the airport right now
I'm aware a lot of large commits have been pushed to amjuarez/bytecoin. I get back late Friday night so I probably won't get it done until the weekend, but this weekend I should be able to take care of syncing monero to the most recent code.
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We've contributed a massive amount to the infrastructure of the coin so far, enough to get recognition from cryptonote, including optimizing their hashing algorithm by an order of magnitude, creating open source pool software, and pushing several commits correcting issues with the coin that eventually were merged into the ByteCoin master. We also assisted some exchange operators in helping to support the coin.
To say that has no value is a bit silly... We've been working alongside the ByteCoin devs to improve both coins substantially.
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https://bitcointalk.org/index.php?topic=583449.msg6824562#msg6824562I will be back asap, though, sorry for delays in this, it's beyond my control Re: awarding the bounty.
We are waiting for tacotime to come back from vacation before completing the process of evaluating the submissions and awarding the bounty. He said five days, that was 2-3 days ago, so it shouldn't be long. Please stand by.
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Tacotime are planning to work on this project full time? Are you balancing this work with your MC2 project? Do you have a day job that you have to dedicate time to?
I work f/t on both chains, with weight leaning towards mc2 This is my day job Thanks for all the kind words everyone, See you guys Friday |
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This coins screams scam. I've tried to get some to cash in on the pump but seems like dev and his team are getting all the coins. Dump this shit and stick to crypto you are accustomed to.
Man, I don't even have a node running at the minute, i just logged in to post the above. If I'm getting all the coins I sure don't know about it. |
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Hey guys,
I knew I said I'd be back on Wednesday, but someone took it upon themselves to go firebomb the house next to my ex's. The fire spread to my ex's house and now my cats are dead and I need to take a detour flight out to collect their ashes.
Should be back Friday, I don't guarantee immediate productiveness. Noodledoodle should handle merging new PRs and maintaining the code base until then
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