Weekly Update #159 Have fun! |
|
|
|
Weekly Update #158 Have fun! |
|
|
|
Weekly Update #157 - There appears to be a competing protocol team in the bitcoin community, known as bitcoin-xt. The situation is new to bitcoin. We are watching the situation closely.
- B&C exchange team has launched their website with a teaser wallet client: https://bcexchange.org/
Have fun! |
|
|
|
Weekly Update #156 - Happy birthday peercoin!
- It's been a bit slow last few months. We plan to speed up peercoin development for the next months. Stay tuned.
Have fun! |
|
|
|
Weekly Update #155 - Walletnotify feature is now supported in peercoin's master branch. Please give it a try if you needed this feature.
Have fun! |
|
|
|
Weekly Update #154 Have fun! |
|
|
|
Weekly Update #153 - It has been reported that some exchanges running the latest master branch have run into a bug that always sends the change output back to the input address (like in the avatar mode, but should not be the default behavior), which is causing the exchange software problems. This issue only affects the recent master branch of peercoin, not affecting official v0.4.0 release. If you build your own binaries from the latest master branch due to feature requirements, please consider update to the latest with the fix as soon as possible. See https://www.peercointalk.org/index.php?topic=4208
Have fun! |
|
|
|
Weekly Update #152 - There is an interesting article written by Ray on proof-of-work: https://www.peercointalk.org/index.php?topic=4200.0
- Some of our users are still having trouble understanding the way wallet works: https://www.peercointalk.org/index.php?topic=4199.0. I would say this is not the user's fault, as I always thought the way the 'change address' works in bitcoin wallet is very inconvenient, especially with a brain wallet. Bitcoin introduced this mechanism to obfuscate the sending graph on blockchain, so it's a purely privacy feature. However it's more natural for users to associate balance toward fixed addresses. That's also why a feature was added to peercoin that I call 'avatar mode', where it disables the privacy feature and returns the change back to the sending address. Though it's still a development feature with peercoin. The latest peerunity release should support this mode.
Have fun! |
|
|
|
Weekly Update #151 - Since I mentioned the topic of transaction fees last week, l should mention the exact kind of simplification of fee policy in peercoin/primecoin. As I explained last week, blockchain technology is not well suited as an ultra high volume transaction processing system, thus we want to discourage tiny payments such as a fragment of cent, also known as 'dust' in bitcoin. Bitcoin charges additional fees for these dust transactions. In peercoin and primecoin, each transaction output must have a value at least 0.01. For the next release of peercoin, the output value can also be 0 to accommodate data transactions. But still, dust is not allowed, you either have an output value greater than or equal to 0.01 or a value of 0.
- Another simplification is that we don't allow no-fee transactions, so the default 0.01 per KB fee is a requirement, not an option as in bitcoin. This eliminates the complication for user to understand the tradeoff between no-fee and quality of service.
- Some might question the consistency of the approach as we move to allow data transaction in peercoin's next release. Data transaction is simply a mechanism to allow user to explicitly declare extra data in the transaction, otherwise user could still stuff data into transaction in obscure ways. In principle transaction fee is the only cost associated with blockchain space usage.
Have fun! |
|
|
|
Weekly Update #150 - With the recent transaction volume on bitcoin network, I would like to discuss the transaction fee policy of peercoin/primecoin. I have always felt that the transaction fee design of bitcoin is overly complex, so peercoin/primecoin simplified it quite a bit, so users could have easier understanding of the policy. However, the deeper issue with bitcoin's technology is that, due to the nature of the decentralization technology, it's inherently a rather expensive settlement network. This means it's more suitable to act as a backbone network for financial systems, rather than to compete with centralized payment networks on volume and cost. This isn't obvious when bitcoin userbase is still limited, but the situation will get more and more obvious as its popularity grows.
- Originally bitcoin's transaction fee was defaulted to 0.01BTC. In fact I think this original default value was quite good, it beats having an overly complicated system in my opinion. Think about it, at current valuation it's still only one tenth the cost of bank wire networks. To prematurely increase the scale of the network, to compete against networks such as paypal or credit cards, would cause a significant loss of decentralization which by the way is what bitcoin technology and philosophy is all about. It appears that bitcoin developers are not guarding the fundamental principles with enough vigilance.
- In such spirit both peercoin/primecoin set default transaction fee to a required 0.01 coin per KB of data, in a simplified and effective fee policy from old bitcoin. The situation in bitcoin is closedly watched, the current fee policy in peercoin/primecoin likely would remain in place when upgrading to latest bitcoin codebase in the future.
Have fun! |
|
|
|
Weekly Update #149 Have fun! |
|
|
|
Weekly Update #148 - B&C funding has reached 100%, congratulations to Jordan and the nubits team! This is another significant event in DAO's, eyes are on the team to pull this important project off.
- B&C shares still for sale, so one still has a chance to better support its development.
Have fun! |
|
|
|
Weekly Update #147 - B&C exchange funding goal is reportedly 89% reached.
- Aside from B&C's own blockshare and blockcredit, the exchange plans to support peercoin, nubits, nushares together with bitcoin and a few other popular cryptocurrencies.
- Upon user request, walletnotify should be included in the planned next peercoin release.
Have fun! |
|
|
|
Weekly Update #146 Have fun! |
|
|
|
Weekly Update #145 - B&C funding raising ongoing, 75% reached. Nubits team appears to be planning its development after the upcoming nubits 2.0's release.
- Mably is raising fund to port btcd to ppcd: http://peer4commit.com/projects/130
Have fun! |
|
|
|
Weekly Update #144 - Tyke's book "Peercoin -- A first year history" is now published on amazon: https://www.peercointalk.org/index.php?topic=3870.90
- v0.5 protocol adjustment is under testing. Once testing and reviews are completed testnet deployment would follow. Schedule will be fixed after testnet deployment completes sucessfully.
- B&C funding raising is still ongoing with nubits team this week.
Have fun! |
|
|
|
Weekly Update #143 - Tyke's book "Peercoin -- A first year history" is almost finished: https://www.peercointalk.org/index.php?topic=3870.0
- B&C funding event is rebooted, where B&C shares are offered instead of additional nushare issuance. B&C is Nubits team's venture into decentralized exchange. With the experience gained from nubits liquidity operations, the team is certainly well positioned for such a monumental task.
Have fun! |
|
|
|
Weekly Update #142 Have fun! |
|
|
|
Weekly Update #141 - Emeth has updated latest peermessage/peerapp project to run against peercoin master (to become v0.5): https://www.peercointalk.org/index.php?topic=4102
- Current peercoin protocol does not allow outputs with value < 0.01PPC, to discourage dust problem. This also prevents the zero amount on outputs, unlike bitcoin. To fully support OP_RETURN, from v0.5 on, zero output amount will be allowed, but nonzero amount less than 0.01PPC is still not allowed.
- v0.5 release will be mandatory upgrade, with a 2 month upgrade window. Once testing completes on the protocol change, I will announce a release schedule.
Have fun! |
|
|
|
Weekly Update #140 Have fun! |
|
|
|
|
Show Posts
