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1  Alternate cryptocurrencies / Tokens (Altcoins) / Re: [ANN][No ICO][PoW][No PreMine][Fair Launch] PegNet: Pegged Tokens on Factom on: August 23, 2019, 12:34:08 AM
Is mobile mining in the works or planned in the future?

Well, I don't think mobile mining is going to work out so well.  While the hash algorithm does prevent just driving a battery to zero, it is still a load.  And your mobile device isn't likely to have a fast memory system, so I don't think you'd get much from it.
2  Alternate cryptocurrencies / Tokens (Altcoins) / Re: [ANN][No ICO][PoW][No PreMine][Fair Launch] PegNet: Pegged Tokens on Factom on: August 17, 2019, 02:56:18 PM
Monday is 17:00 UTC is coming fast!

If you want to get started mining, definitely join the PegNet Discord and talk through your plan!  You now have about 50 hours to get ready!
3  Alternate cryptocurrencies / Tokens (Altcoins) / Re: [ANN][No ICO][PoW][No PreMine][Fair Launch] PegNet: Pegged Tokens on Factom on: August 16, 2019, 11:32:11 PM
Just doing last minute documentation and cleanup for the launch of mining on Monday August 19.

Mining requires sources to pull data from, and now all default sources now are free data feeds are mostly free data feeds.  One costs $12 a month.

Always interested in more sources, so let us know if you have a lead on good real time market data that can be used by the PegNet Oracle Price Record Chain!
4  Alternate cryptocurrencies / Tokens (Altcoins) / Re: [ANN][No ICO][PoW][No PreMine][Fair Launch] PegNet: Pegged Tokens on Factom on: August 15, 2019, 04:55:26 PM
So far the GitHub has 15 people, with about 15 or so non developers working on other tasks.

https://github.com/orgs/pegnet/people

This link shows no public members.

My mistake.  The members have to declare themselves as public.  There are 15 developers with commit rights on the project, and more that are contributing through pull requests.  Sorry about the confusion, and the original post has been updated.
5  Alternate cryptocurrencies / Tokens (Altcoins) / Re: [ANN][No ICO][PoW][No PreMine][Fair Launch] PegNet: Pegged Tokens on Factom on: August 15, 2019, 02:14:05 PM
Hi there !

Can you introduce your development team? And What are your looking for in the market? I really want to know about your technical and solutions.

anw, good luck with your project.

If you go to PegNet.org you can follow the link to the discord, and all development is coordinated there.  I am what passes for the lead on the effort, and you can talk to me directly from the discord which I monitor pretty closely.  I am Paul Snow.
6  Alternate cryptocurrencies / Tokens (Altcoins) / Re: [ANN][No ICO][PoW][No PreMine][Fair Launch] PegNet: Pegged Tokens on Factom on: August 15, 2019, 02:12:39 PM
Is there a FPGA bitstream available ?


To answer your question, there is no FPGA support or work done on this hashing algorithm.

One would not expect an advantage to FPGA's with this miner... You are optimizing 10% of its execution (the computation). 90% of the execution time for this hash is waiting on DRAM to respond, and an FPGA can't make that faster.
7  Alternate cryptocurrencies / Tokens (Altcoins) / Re: [ANN][No ICO][PoW][No PreMine][Fair Launch] PegNet: Pegged Tokens on Factom on: August 14, 2019, 05:48:04 PM
One of the very interesting things about the LXRHash used by the PegNet is the fact that it does not target computation.

LXRHash targets the memory bottleneck.

Each byte of source data being hashed involves creating a complex state, and that state is created by xors and shifts, and random bytes selected from a 1 gb byte buffer.

In the end, the state is used to derive the resulting hash.

Because a random byte is selected intermittently in the computation of the state, the result is over 90% of the time used to compute the hash is waiting on memory.  As the largest cache on commercial processors is about 128 MB, the cache is nearly always blown, doing very little to speed up the hash.

Benefits of this for CPU mining:
  • Computation takes only 10% of the time.  Driving computation to near zero with an ASIC only gets you a 10% boost in hash power
  • When processors are waiting on memory, they are idle.  On an I7 running 8 LXRHash miners full blast, the power consumption only goes up 10 Watts .... roughly the draw of a LED light bulb
  • The most effective mining hardware becomes Single Board Computers like the Raspberry Pi 4.  With 2 GB, the hardware cost per hash is half conventional hardware, likely a quarter or less of GPUs or ASICs

Because the target isn't computation, but the memory bandwidth to 1 GB of memory, the best way to improve hash power is to fix a fundamental limitation of all hardware:  I/O speed on and off chip.  So we don't have to worry about a new ASIC coming out that blows away CPU mining.  And when caches do become effective at 1 GB, we can increase the map to 2 GB, or 4 GB, or more.  So the hash can scale with hardware advancements.

LXRHash is a Proof of Work hash, not a cryptographic hash.  As such it has been evaluated for avalanche properties, and compared to Sha256 for  bits modified due to any change in the value being hashed.  Hash restarts don't work because it does a quick first past to initialize the state prior to the main loop.  Append attacks don't work because LXRHash does an additional pass over the 32 byte hash produced by the main loop.

The cryptographic hashing securing the PegNet come from Factom, and are based on Sha256 and Sha512.
8  Alternate cryptocurrencies / Tokens (Altcoins) / Re: [ANN][No ICO][PoW][No PreMine][Fair Launch] PegNet: Pegged Tokens on Factom on: August 13, 2019, 01:28:38 PM
If there is no premine, how are you planning to take care of listing, development & promotional activities ? Also how big is your development team ?

This is more of a Bitcoin model than most projects.  The utility and functionality of providing many missing base pairs and providing conversion utility is driving investment to get listings and promotion.

So far the GitHub has 15 people, with about 15 or so non developers working on other tasks.

https://github.com/orgs/pegnet/people sorry, the people on a github project are not public outside the project. My mistake.
9  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [FCT] The Factom Protocol on: December 04, 2018, 09:59:40 PM
A new thread dawns.
10  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] FACTOM - Introducing Honesty to Record-Keeping on: November 23, 2017, 03:19:40 PM
I know that I have largely moved to the Factom slack, but will make a renewed commitment to follow this forum as well.   You guys were the first, and some of the most loyal supporters of Factom, and we are hugely thankful for you!  To that end, I've posted a Thanksgiving message to our larger forums and communities.  And that certainly includes this one!

The Factom Community is the bedrock of what we are doing. The input, the support, the observations, the critiques, the development even, etc. The community has been so incredibly wonderful, I cannot express how thankful I am simply by typing words.

We are going to do so much in the next year. And the community is what will be enabling us. I want to say, without a shadow of a doubt, we are so thankful to be on this road together with such great people.

As always, we're going to focus on what we do. Not just spewing words. But sometimes, you just have to say what you think and how you feel. A wonderful, restful, and energizing Thanksgiving to everybody, even those who technically are outside the US and not formally celebrating Thanksgiving.

You don't have to have government permission to be thankful!

Paul Snow
CEO Factom
11  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] FACTOM - Introducing Honesty to Record-Keeping on: January 03, 2017, 09:24:18 PM
We are taking down the Factom Network to deploy Factom Federation (M2).  Factom transactions  will not be processed for upto 24 hours.   

Just thought you all would like to know!

Paul
12  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] FACTOM - Introducing Honesty to Record-Keeping on: December 21, 2016, 02:42:30 AM
Ok so my question is if an entry credit is 0.05 cents, why are Factoids over $3 dollars? How does this make sense if they get swapped 1 for 1 and burned? They need to have parity....minus some demand ofc. Thats the point we make here, Factom is already way passed overvalued for the time being. Also we see clear insider trading with the pump days before M2 news. Now it will be a sell the news with sustained volume to those thinking paying $3 dollars for something currently worth $0.05 cents is a smart move short term, we will likely drop a bit lower than before then start creeping up as contracts are made and entry credit prices actually go up.

Entry credits are held around .1 cents.  There is an exchange rate, so they are not swapped 1 for 1.  At $3 an FCT, they are exchanged at 3000 Entry Credits for 1 FCT.

As the price goes up, fewer FCT are burned for the same activity in the protocol.  Once elections are in place, we grow the supply when the price goes up (fewer FCT are burned), and lower the supply (more FCT are burned) when the price goes down.  So the token is (eventually) self stabilizing.
13  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] FACTOM - Introducing Honesty to Record-Keeping on: December 20, 2016, 11:13:21 PM

The slack channel is run by the community for the community.  We at Factom are fully cooperating with Matthew, who set it up and brought us in.

We as always are anti-censorship, but the slack channel has some rules that will be enforced.  

We welcome the conversation!  One advantage of slack is channels, to let people read up on topics they care about, and ignore the rest!

Paul
14  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] FACTOM - Introducing Honesty to Record-Keeping on: December 18, 2016, 05:00:32 AM
Crazy Ivan are you awake?  Price is going nuts right now... Up to 350k

M2?

Got a newbie question. What is exactly is in Mile stone 2? Comparison to M1? Appreciate it.

We add federated servers, a key component to being a distributed autonomous protocol.  Right now the protocol is running on only our servers.
15  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] FACTOM - Introducing Honesty to Record-Keeping on: December 17, 2016, 02:42:44 AM
Did you get synced? I have waited some long times before the new blocks start syncing, maybe it scans the previous blocks and this takes time (I'm just guessing here). When I have another terminal open and enter    factom-cli get height      I see that the action has been performed in the factomd terminal and each time a different value is returned, which lets me know that it is working, as also checking CPU usage. I have had disconnections at times, not since the last released binaries,  but it tels me that in the factomd terminal. I haven't had any stalls though....   Maybe you have synced now,  if not at least this give you a bump....

Yeah I ended up going to bed and let factomd do its thing overnight.
Woke up and it was synched.
Just wondering if this is normal behavior for it to take a few hours to catch up if you stop the service for a day or two, or if something is causing delay.

Right now this is kinda normal on many blockchains, including Factom.

That said, the Genesis code (some refer to as M1, the code you are running) is getting rather long in the tooth.  We are working to get Factom Federation out ASAP (what people cal M2), and you can take a preview of the new code by running a node on the Test Net now.   The new code base handles multiple federated servers for greater security and distributed authority.   We have vastly reduced the footprint in memory, use of CPU, and increases transaction rates.   The new code even has a nice control panel and built in explorer.

Paul
16  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] FACTOM - Introducing Honesty to Record-Keeping on: December 13, 2016, 03:49:39 PM
Okay it looks like I was able to correct my syncing issue.
(I'll post what I did, hopefully it helps someone in the future.)

I had a few things running at the same time as factomd, including the Burst coin wallet and miner.
I noticed Burst miner had started throwing errors at the same time factomd stopped progressing.
Maybe there was some conflict with the factomd process and another program I was running. I have the log messages if anyone from the Factom team is interested.

I killed the process, rebooted the machine, and went into the Factom directory located at- C:\Users\Shiroslullaby\.factom
and renamed the ldb folder.
I restarted factomd and let it synch again, this time it seemed to sync to the current block, and my wallet app was showing the same info as the block explorer for my address.

Hopefully I don't have any errors in the future and will be continuing to test the wallet beta.


We would be interested in any information you have.  So if you can post or email the log messages, that would be great.  paul@factom.org would work. I don't know what we would be doing that would interfere with another coin's wallet and miner (other than with memory or cpu usage).  Also not sure why you would have to effectively delete the database and reload (what happens when you rename the ldb folder).

If you still have the ldb folder from your first attempt, it might be interesting to stop factomd, restore the old ldb folder, and restart factomd and see if that works.  It should.

Anyway, thanks so much for testing our system!

Paul
17  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] FACTOM - Introducing Honesty to Record-Keeping on: December 12, 2016, 03:46:56 AM
Is this the correct thread for technical questions?

I downloaded and installed the Windows 64bit client and started factomd.exe
It seems like the blockchain has been sitting at the same block for a while. I'm getting the message:
[INF] BMGR: At 56819: syncing to block height 67136 from peer 52.19.117.149: 8108

How long should I expect it to take for the blockchain to fully sync?
Will I get messages as it moves to other blocks so I can see the progress?
Is there anything I can do to troubleshoot and see if/ why the sync is stuck?



Depending on your connection, and the power of your machine, it can take a while to sync.  I some have reported a stall while downloading, so you can stop factomd and restart it. 

You can use your browser to monitor the progress.  On that computer, go to http://localhost:8090

Hope this helps.
18  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] FACTOM - Introducing Honesty to Record-Keeping on: December 08, 2016, 06:44:14 PM
I don't know if Paul replied to the last post, but there is no text under the quote there.

Forgot what I was doing I think.  I'll not delete the thing, but I'm guessing I hit the wrong button somewhere along the way.

Paul

No worries. How is M2 testing progressing?

We are pounding away on the Factom Federation (M2).  I'm feeling good about it.  The Test Net is holding up.  That said, we still have some work to do to make our release.  We are doing everything we can to release as soon as we **Safely** can do so.  No promise about schedules here.

Paul
19  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] FACTOM - Introducing Honesty to Record-Keeping on: December 08, 2016, 05:08:21 PM
I don't know if Paul replied to the last post, but there is no text under the quote there.

Forgot what I was doing I think.  I'll not delete the thing, but I'm guessing I hit the wrong button somewhere along the way.

Paul
20  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] FACTOM - Introducing Honesty to Record-Keeping on: December 08, 2016, 04:30:46 PM
Current amount of FCT (8.7 million) x value of FCT (1.9USD) / EC price (0.001USD) = 16.500.000.000. So this is the amount of entries that can theoretically be made with the current price of FCT, while Factom is now at 5.7 million entries. Seems like a big difference, but we all know once Factom starts to acquire big companies with big data sets to store on Factom's blockchain, it can go pretty fast. 16.5 billion is then suddenly not so much anymore. Especially if you keep in mind that a large part of the FCT will never be available for convertion into EC's, as they are used for trading/speculation and long term holdings. So in reality there are way less FCT available to really burn into EC's than the number of 8.7 million. This will drive the price.

Plus to me the inflation is not something that crazy, many fear that 73k FCT per month is crazy, but that basically means (if the company survives without burning any FCT) that it will double its supply in 10 years. So 16-20m FCT is not a huge supply either and that's the worst case scenario. That would never happen because the company will actually go out of business.

In any case and we any real usage, inflation will be very low or even deflationary. So if Factom gets any kind of traction that means the current price is a steal like many of us have said in the past.

Please note that while 5x price is quite the mark up, we expect this to be a very, very low volume service.  Someone who needs a few hundred EC to build a proof of concept will save way more than $2 to not have to mess with exchanges and wallets and go straight to application building.  And once they have real needs (100k's of entries) they can contact us (or some other FCT holder) and buy them at a much more reasonable volume based price.
I don't understand how FCT could be available to be burn into EC's before M3 as FCT's are always hold by someone in Poloniex or wallets. Actually and until M3, where burned FCT come from?

That is actually a good question. Maybe someone from Factom can answer this here?

Anyone holding FCT can convert that FCT to Entry Credits in a Factoid Transaction (our wallet handles building such a transaction).   So I am not quite sure what the confusion is.  You can buy FCT from Poloniex, then convert that FCT to Entry Credits.   Or you can buy Entry Credits directly from Factom.

 https://shop.factom.com/

(A note about shop.factom.com:  The idea isn't really to be a source of Entry Credits, given a price of .5 cents for something you can convert yourself for .1 cents.  The idea is really to provide a low friction path to Entry Credits which avoids wallets and Factoids and Exchanges.)

We expect there will be other sources for Entry Credits over time.

Paul

So is this your way of saying Factoids are useless and a way to take advantage of people in a unregulated environment as they are dumped upon us for sustained income by who knows?

If we can buy EC from the website as seen at shop.factom.com , what makes Factoids valuable or what will make them valuable? I just feel we are being misguided and tricked to be an income source for your startup.

We do the conversion of FCT -> EC for you.  We have no special place in the network, and we have to have FCT to provide the service.  The key value here is to allow users to access the protocol without having to wade through the wallet and cryptocurrency issues.

So I don't think it is accurate to claim FCT is useless.  It is required to provide the service.

Exactly. So whether you convert FCT yourself into EC's or you buy them directly from the shop, in both situations FCT are burned. But in case you do it via the shop, you pay 5 times as much. So FCT are not useless at all. Without them there is no way to get EC's. Buying via the shop means you don't need to buy FCT yourself first, but you use FCT owned by Factom. So PapOu, back in your cage again...
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