crypto182
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April 01, 2016, 06:15:03 PM |
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oh wow that was really cool, it instantly retrieved it. thanks man.
This coin is so cool, and way more valuable than people think at the moment.
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YarkoL
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April 02, 2016, 10:14:54 AM |
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oh wow that was really cool, it instantly retrieved it. thanks man.
This coin is so cool, and way more valuable than people think at the moment.
It retrieves instantly because delegate transaction is a type of smart contract. It is a signed IOU from the sender to delegate, which is voided only when the sender has reimbursed the delegate. In case that does not happen, all the delegate has to do is to broadcast the contract to the network, and the coins committed in the contract are transferred to the delegate's balance.
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“God does not play dice"
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HarryPorter
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April 04, 2016, 09:07:44 PM |
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oh wow that was really cool, it instantly retrieved it. thanks man.
This coin is so cool, and way more valuable than people think at the moment.
It retrieves instantly because delegate transaction is a type of smart contract. It is a signed IOU from the sender to delegate, which is voided only when the sender has reimbursed the delegate. In case that does not happen, all the delegate has to do is to broadcast the contract to the network, and the coins committed in the contract are transferred to the delegate's balance. could you make some picture how its works, I think visual explanation will help to understand the idea of delegate transaction?
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YarkoL
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April 05, 2016, 04:23:47 AM Last edit: April 05, 2016, 07:59:16 AM by YarkoL |
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There were some images in the opening post of this thread, but they were hosted on a server that wasn't controlled by me and has gone down since. I'll see if I can find them on one of my machines.
If you think of Bitcoin, you probably know that it has something called "Script", which makes possible to ascertain ownership of the coins. Every time a transaction is broadcast to the network, all the full nodes run that script to see that the transaction is valid.
Now Ethereum makes that script completely programmable, which makes all kinds of smart contracts possible in theory (in actual practice I'm doubtful it will work in long term but that's another story)
Millenniumcoin is more modest: it extends the Bitcoin's script operation set just a little to enable just one kind of smart contract, namely anonymous transfers via delegate, and it aims to do that one thing very well.
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“God does not play dice"
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lanshop2010
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April 05, 2016, 09:37:19 AM |
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Your explanation is very interesting Yarkol. I'm not a developer but because MIL already has a smart contract, would it be possible to extend that feature in the future to have other smart contracts for other purposes? The idea is that from a coin designed for extreme privacy and anonymity with an infrastructure for vendors and buyers, another layer or feature set will be added to enable other smart contracts like those being pushed by other altcoins. Does that make sense or even practical?
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YarkoL
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April 05, 2016, 11:46:05 AM |
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Your explanation is very interesting Yarkol. I'm not a developer but because MIL already has a smart contract, would it be possible to extend that feature in the future to have other smart contracts for other purposes? The idea is that from a coin designed for extreme privacy and anonymity with an infrastructure for vendors and buyers, another layer or feature set will be added to enable other smart contracts like those being pushed by other altcoins. Does that make sense or even practical?
That makes sense, but whether it is practical is another question. When you extend the script, you also need to extend the protocol. In MIL we have about a dozen additional network messages to make the delegate process run smoothly and semi-automatically, and right now I'm adding few more for the split transactions. All this adds to bandwidth requirements and extending the script increases the need for processing power as well. With regard to MIL the bandwidth issue is important since we operate on Tor. I hope to include a significant optimization on the level of communicating block data - more of that later. Perhaps there are some additional contract types that could be supported by the existing functionality without placing too much pressure to network, but I don't know what they are. I'd rather specialize and do one useful thing really well than cause a feature bloat.
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“God does not play dice"
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lanshop2010
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April 05, 2016, 12:05:46 PM |
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Thank you for the explanation Yarkol, that was very informative. I can't wait for the next version of MIL. I have a feeling you have some pretty cool surprises. ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
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crypto182
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April 16, 2016, 03:31:32 AM |
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when i try to run my wallet, its not working and i get an assertion failed message?
if i click ignore, i get an error loading blkindex.dat popup
anyone know what i can do?
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YarkoL
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April 16, 2016, 10:01:49 PM |
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when i try to run my wallet, its not working and i get an assertion failed message?
if i click ignore, i get an error loading blkindex.dat popup
anyone know what i can do?
I think your block database has become corrupted for some reason. Before anything else, backup your wallet. That's wallet.dat in your data folder. You need to re-sync from scratch. Download IanShops bootstrap file. https://mega.nz/#!MZ90VCLA!qbgx2QvzlGaK07Un51l-xtFIaED1RAy8N6OWQBrtvLM Delete everything in the data directory except the wallet.dat - which you have backed up - and your MillenniumCoin.conf. Unzip the bootstrap file. Rename it to bootstrap.dat if it wasn't that already (I don't remember). Put it into the data directory. Restart. The wallet will read the block data from the bootstrap and afterwards it will sync with the nodes in the conf file. This kind of thing happens infrequently with altcoins. What I have just described is a very basic procedure. The fact that no one but me has responded tells something about the size of the community.
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“God does not play dice"
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lanshop2010
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April 17, 2016, 05:13:21 PM |
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The fact that no one but me has responded tells something about the size of the community.
Many of the original supporters or community of MIL when it debuted in Poloniex with its ICO are probably gone now. We all know what happened after that ICO. The community maybe small but if I take a look at the page views of this thread, there is some interest but the readers are just quiet. The hope that is giving life to MIL now is your development, innovation and hard work for MIL. A new bigger community may come when they see the unique features of MIL when it is complete. Trading has picked up for the coin and you are now giving updates on development. I hope it's just a matter of time for the community to grow.
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crypto182
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April 19, 2016, 11:40:30 PM |
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Thanks for the info Yarkol.
I followed your instructions and now my wallet opens, but ive been out of sync for a day.
I added the node you posted a while back as well, so hopefully it connects to the network soon.
In terms of the community, i think Once word gets out that we have a really great and honest dev, who in my experience alone, has been beyond helpful, combine that with the really interesting and unique idea here, im sure people will see how valuable this project could be, it may take time to build it bigger. all we can do for now is share the info and tweet about it and hope that people jump on board.
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YarkoL
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April 20, 2016, 09:22:29 AM Last edit: April 20, 2016, 02:43:32 PM by YarkoL |
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I followed your instructions and now my wallet opens, but ive been out of sync for a day.
I added the node you posted a while back as well, so hopefully it connects to the network soon.
I had been doing some things on the server and had stopped the node - sorry about that! It's back now.
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crypto182
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April 20, 2016, 02:39:10 PM |
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haha no problem man, i woke up today and it was fully sync'd and up to date. thanks again ![Grin](https://bitcointalk.org/Smileys/default/grin.gif)
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VladimirAmfodent
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April 26, 2016, 02:36:49 PM |
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haha no problem man, i woke up today and it was fully sync'd and up to date. thanks again ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) Wow what a big price hype on polo. why is that?
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YarkoL
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April 26, 2016, 03:08:31 PM |
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Wow what a big price hype on polo. why is that?
Maybe someone came across this thread and thought this was a bargain. And that my friend wouldn't have been very far from the truth.
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“God does not play dice"
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lanshop2010
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April 27, 2016, 06:11:10 AM |
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Almost every day I check this thread for news and also the daily trading of MIL in polo. My jaw almost dropped to the floor today when I saw the 50 BTC worth of MIL traded. Somebody scooped up that many MIL. Wow! That will surely attract attention. ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif)
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YarkoL
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April 27, 2016, 04:01:00 PM |
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Almost every day I check this thread for news and also the daily trading of MIL in polo. My jaw almost dropped to the floor today when I saw the 50 BTC worth of MIL traded. Somebody scooped up that many MIL. Wow! That will surely attract attention. ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif) As for me, I only learnt about it when VladimirAmfodent posted here, above, and by then it had already come down a lot. I'm not sure if this occurrence will convert to anything useful. No new nodes are appearing, and no traffic in this thread. Just some confusion on the poloniex trollbox (although one or two comments I've read there indicate an understanding of what we're aiming to accomplish here) To tell the truth, that kind of crazy hike is a symptom of an unstable currency, and I did not anticipate such a thing happening before the next release. At the same time I'm happy for those holders who have had faith for so long and I hope that some of them benefited amply. A status update - I'm still working on the vendor/buyer communication with regard to split transactions. After that another test round to see that the retrieval works as it should on splits. At the same time I'm looking for a new employment, which can again be a slowing factor.
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“God does not play dice"
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lanshop2010
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April 28, 2016, 01:00:16 AM Last edit: April 28, 2016, 02:01:56 AM by lanshop2010 |
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Thank you for tempering our expectations Yarkol. If I remember it right, this is the only time that a big investor bought that much MIL for that big amount of BTC. You are right, if the coin has generated an interest in someone or some group, new nodes should appear and trading activity should be high for a number of days. Whatever the reason of the buyer, I still welcome it as a positive development.
Increased traffic in this thread can take some time, as some details about MIL in the first page need to be updated, especially with the new features you are adding.
Thanks for the update, I hope the testing goes well. I also hope you find a good employment soon. If by any chance MIL gets the interest of traders, that would be great and may give you more time and resources to concentrate on improving the coin.
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HarryPorter
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April 28, 2016, 05:33:07 PM |
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Happy to see this coin doing well, wish you to stay on uptrend for long. ...Since now I shell keep visiting this thread more often.
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lanshop2010
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May 16, 2016, 01:57:05 AM |
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What's also interesting is the volume of trades. I haven't seen that amount of BTC coming into MIL trading for a very long time.
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