[MIL]* MillenniumCoin DAAE * TOR * Anon * Escrow "NEW GROUND FOR CRYPTO"

[crypto182]

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.

[YarkoL]

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.

[HarryPorter]

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?

[YarkoL]

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.

[lanshop2010]

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?

[YarkoL]

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.

[lanshop2010]

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.

[crypto182]

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?

[YarkoL]

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.

[lanshop2010]

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.

[crypto182]

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.

[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.

I had been doing some things on the server
and had stopped the node - sorry about that!

It's back now.

[crypto182]

haha no problem man, i woke up today and it was fully sync'd and up to date.

thanks again 

[VladimirAmfodent]

haha no problem man, i woke up today and it was fully sync'd and up to date.

thanks again 

Wow what a big price hype on polo. why is that?

[YarkoL]

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.

[lanshop2010]

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. 

[YarkoL]

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. 

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.

[lanshop2010]

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.

[HarryPorter]

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.

[lanshop2010]

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.