DeVCoin Pool merged mining many coin types but paying out in devcoins

[markm]

Okay, my merged-mining p2pool should now be reachable over the net as port 10332 at ot.knotwork.com

It is a p2pool set up as 100% commission to prevent it paying out any bitcoins. It merged-mines currently bitcoins, namecoins, devcoins, groupcoins, ixcoins, i0coins and coiledcoins.

Payouts will only be in devcoins. All the other types of coin will be sold, hopefully on my Open Transactions server which functions as an exchange for many types of cryptocoins and other assets, and the proceeds used to pay out in DeVCoins.

Still to do is working out the details of exactly how to compute payouts, presumably after sale of the coins it should be possible to simply divide the number of devcoins by the number of shares it took in order to figure out how much each share ended up being worth.

Part of the purpose of this pool is to provide liquidity to the exchange by using everything other than devcoins to buy devcoins; part is to help keep up the value of devcoins by creating demand for them in terms of each of the other coin-types.

-MarkM-

[Smoovious]

How are you going to handle the payouts to a different address?

-- Smoov

[markm]

DeVCoin addresses are BiTCoin addresses.

The only difference is which wallet you put their private key in. You can export a private key from a BiTCoin wallet and import it into a DeVCoin one and vice-versa.

This was originally done so that people's BiTCoin donation-addresses can be used with DeVCoin as their DeVCoin donation address, so people could get onto the developer share reievers list without having to get DeVCoin up and running first in order to do so.

But it also happens incidentally to mean the BiTCoin address a miner normally gives to p2pool for mined BiTCoins to be shared out to is equally (from the server's point of view) useable for sending out DeVCoins to miners. Miners who generate a mining address using their BiTCoin client instead of their DeVCoin client will have their priavte key in their BiTCoin wallet rather than their DeVCoin wallet admittedly, thus have to import it to a DeVCoin wallet eventually in order to access the address on the DeVCoin side, but things like proving to the admin of the Open Transactions server that you control that address can be done with any proof method that can use BiTCoin addresses, such as a signed message signed by that address created by any *coin client that can work with BiTCoin addresses, such as a BiTCoin client or a DeVCoin client.

I haven't hacked p2pool to actually send out DeVCoins itself, so I could even give people their DeVCoins in the form of dDVC (DigiDeVCoins; DigiDVC; DeVCoin tokens) on the Open Transactions server so they can trade them for whatever type(s) of assets they choose that that server supports.

I have not in fact actually looked deeply enough into the internals of p2pool to know exactly what statistics it keeps, so we should regard this as initially a test run to test out exaactly how best to do it and that it can in fact provide the statistics we need and even that setting its commission percentage to 100% will in fact cause it to not send out any bitcoins but yet to keep statistics on numbers of shares solved.

So don't redirect huge amounts of hashing there yet, lets make sure first that is will in fact keep track of everything sufficiently before relying on its accounting. Right now I do not even know whether it even pretends to work for remote users yet, I opened its port in the router but have not heard yet of anyone successfully connecting to it and using it.

-MarkM-

[FinShaggy]

Get DVC on more exchanges:
https://bitcointalk.org/index.php?topic=212727.new#new