Really? But even if btc-e delists nvc I think only you can 'destroy' it, sort of, but just like all other dead altcoins, someone might decide to pick up where you have left and suddenly it's back to life.

If by 'destroy' you mean market cap drops like a stone that's very likely though.

I can only interpret that by choosing to fork from ppcoin Balthazar thinks the design has merits. Other than that I have no relation to novacoin and its developers, nor did they ever communicate with me about the project privately.

While I am also critical of the release management of novacoin, but if Balthazar can sustain the project and not intend to scam people then I do welcome new competition. When ppcoin was released I said it had 'same license term as Bitcoin to help advancing cryptocurrency technology', yeah even though novacoin hasn't really invented anything new but still I don't mind anybody forking ppcoin project and do whatever they want. Yes forks from ppcoin are preferred over forks of bitcoin to me Although please don't take my position as if I approve of these forks and always be aware of the risks involved.

Are you sure your stats are correct? TRC is supposed to have block every 2 minutes, and very fast adjustment (30 block difficulty adjustment), so I would think there should be more like ~3000 blocks in a 4~5 day period?

I added an option to 'getblock' in ppcoin to dump details about transactions in it.
Combine this with 'getblockhash' and a few lines of scripts shoud get you all transaction info, some more filter should be able to get you all the large transfers.

TRC release was not announced I think that constitutes a premine. FRC was only announced on their own forum, also with 80% tax for the foundation. So I cannot agree with your statement here.

Yes, I am aware of that. Although the release could certainly be managed much better and be fairer to all interested users. But I am not going to repeat all the criticisms voiced by the community here, as I am sure you are already under enough fires.

From my point of view I actually appreciate the work you have done to provide another avenue for the ppcoin design to compete against say litecoin, currently still in a dominating market position among all altcoins. By forking from ppcoin I assume that you actually do appreciate the design and see its value. Now that you have a good stake in novacoin I hope that you would be sincere in maintaining the project for the long haul, and possibly joining the discussion of developing ppcoin project further.

Quite impressed with this feat, you surely got some good hands helping you there 

Difficulty started at 0.00024414 at block 1.
I would have started difficulty between 0.2 ~ 1.0 for scrypt.
Still ppcoin's continuous adjustment worked beautifully for novacoin now it's at difficulty >8, more than 4 orders of magnitude than the starting difficulty.

If you can do that that would be a whole new different kind of 'proof-of-work'. However so far no one has come up with a proof scheme using other resource types.

The above change proposed by dreamwatcher is currently under review.

It appears to me that the base58 version of wallet private key is only used with dumpprivkey and importprivkey. However if anyone is aware of potential other uses that might cause compatibility issues with existing block chain/wallet please voice your opinion. I assume that there is no one using non-regular transaction types right now. I am also not aware of any transaction type that may involve base58 version of private keys.

At this point I am in favor of accepting a version of this proposal into v0.3, which means previously dumped keys via dumpprivkey would need to be dumped again once upgraded to v0.3, in terms of compatibility impact.

Any comments and concerns are very welcome.

Looking at your chart my guess is that you just feed an array of actual block spacing to the calculation of block difficulty. If this is not what you did then you can disregard this post.

If you did that say keep feeding a 9-minute actual spacing into the difficulty calculation, yeah I could imagine your result in the chart. However that's not the correct way of simulating things. With a different difficulty adjustment algorithm, you wont get the same actual spacing series. This is because unlike bitcoin's 2-week adjustment, ppcoin's adjustment is every block. You would quickly raise the difficulty and then given the same network hashrate, you would see a completely different series of actual block spacing. If you still doubt it, you can try devcoin's adjustment as well I bet it's gonna look the same as ppcoin's on your chart.

I hope this would clear some misunderstandings here.

Can you not throw baseless accusations around? What do you mean that I 'DDoSing you off the internet'? Why do I even do that assuming even if I have such capability? I genuinely view all altcoin developers as all part of a big team and I truly hope all can be friends of each other and help each other.


Please do describe details the process you derive the chart. The equation I gave is the way to estimate network hash rate, I never said you could get exact hash rate of the network, it's an approximation.

The difficulty adjustment is not complicated but based on a very easy to understand moving average. And it has been observed to produce difficulty matching the formula above. If you set spacing target to a fixed 600 second (the same as bitcoin), then it should generally match the bitcoin curve only a bit smoother. Please do describe how you derive your chart in more detail so we can look at what might have gone wrong.

Looks like it either has problem with cgminer, or it has problem with getwork for solo mining. Blocks are being rejected due to wrong hash submitted via getwork. Balthazar, are you sure that getwork is properly supported? Have you tested with cgminer?

It's protected with automatic checkpoints same as ppcoin.

You are of no fault, it's always prudent to remind others to double-check 

Source code is presumably here:
https://github.com/CryptoManiac/novacoin

Files do not need to be in an 'aux chain'. That would complicate things unnecessarily. Gavin once pointed me to his proposal for bitcoin metadata here:
https://gist.github.com/gavinandresen/4073937

Maybe you can do something similar and just drop file (chunks) to a subdirectory in the wallet. The tough job is to balance the storage/availability but as it is a coin so it has the advantage over traditional file sharing networks in that you can hopefully leverage the economics to do the dirty work. My recommendation is that you allow each user to set upload/download fees for his storage, and each node to keep some availability/bandwidth metrics for peers. Then when you search for a file to download you can set a max price and client negotiates the best peers for you. Keeping the download/payment atomic is likely very challenging. Overall I think it's quite an ambitious but interesting project.

Well congratulations to the first running ppcoin fork Okay I am a bit surprised but happy I think forks are endorsements of the value of our work and I don't mind more competition

Sure, I will compile the list the projects and status as new proposals coming in and projects complete.

Weekly Update #25

• Testing of 0.3 release continues on testnet. System has stabilized and no significant issues have been found this week.
• Windows Qt build testing is successful this week, and works have been done so it is now confirmed that Qt begins support in 0.3 release.
• Current plan is to have a final week of testing. Barring further issues, v0.3 will be released afterwards.

Have fun!