[ANN] ECC

[kiklo]

i can say from experience, any study of inflation in the non-crypto world has almost no application to crypto inflation/prices. just purely due to the way the market works.

the reason why i wanted to cap it at 21 now is because i want it to completely mine out

Well, we'll just have a difference of opinion,  But I agree with the 21B cap for what ever your reasons are. 


 

 

[huige007]

The ECC total quantity How many POS interest every year。。

[Griffith]

The ECC total quantity How many POS interest every year。。

25 billion total. 25% PoS interest per year.

however, over 15 billion have not moved from their wallets in over a year and may be lost.

[huige007]

The ECC total quantity How many POS interest every year。。

25 billion total. 25% PoS interest per year.

however, over 15 billion have not moved from their wallets in over a year and may be lost.

25% PoS interest per year. Not POS finished soon.
Then new progress?

[bgberrgrg]

25 billion total, i think this is too much supply

[Griffith]

25 billion total, i think this is too much supply

it might be a little high. but if you really think  about it and what the point of crypto is in the end, it is probably fine

[huige007]

Everyone holds a 100 million, that number is scarce.

[RJF19]

i can say from experience, any study of inflation in the non-crypto world has almost no application to crypto inflation/prices. just purely due to the way the market works.

the reason why i wanted to cap it at 21 now is because i want it to completely mine out

Well, we'll just have a difference of opinion,  But I agree with the 21B cap for what ever your reasons are. 


 

 

Agree with the cap as well.

[sulfurtank]

Everyone holds a 100 million, that number is scarce.

There emerges the need for a coin that would introduce the limitless supply, say 2.3 X 10^195, and to figure to what a coin can be pegged to, to be tradabale on the exchange, u would need to run python script for 70 trillion years to compute the amount of tokens in circulation.

[Griffith]

Everyone holds a 100 million, that number is scarce.

There emerges the need for a coin that would introduce the limitless supply, say 2.3 X 10^195, and to figure to what a coin can be pegged to, to be tradabale on the exchange, u would need to run python script for 70 trillion years to compute the amount of tokens in circulation.

i feel like this post is just a string of words because it doesnt make sense.

1)there are already limitless supply coins.
2) a coin can be pegged to anything you want to peg it to, you just have to have the right means to peg it to that thing
3) if there is a limitless supply, you need to run a python script for 0 seconds to figure out the amount in circulation because the wallet tells you. unless u mean what the max supply will be in which case limitless = infinity?

i dont understand what you were trying to say

[kiklo]

Whether intended or not , feels like a reference to The Hitchhiker's Guide to the Galaxy ,   

In The Hitchhiker's Guide to the Galaxy (published in 1979), the characters visit the legendary planet Magrathea, home to the now-collapsed planet-building industry, and meet Slartibartfast, a planetary coastline designer who was responsible for the fjords of Norway. Through archival recordings, he relates the story of a race of hyper-intelligent pan-dimensional beings who built a computer named Deep Thought to calculate the Answer to the Ultimate Question of Life, the Universe, and Everything. When the answer was revealed to be 42, Deep Thought explained that the answer was incomprehensible because the beings didn't know what they were asking. It went on to predict that another computer, more powerful than itself would be made and designed by it to calculate the question for the answer. (Later on, referencing this, Adams would create the 42 Puzzle, a puzzle which could be approached in multiple ways, all yielding the answer 42.)

The computer, often mistaken for a planet (because of its size and use of biological components), was the Earth, and was destroyed by Vogons to make way for a hyperspatial express route five minutes before the conclusion of its 10-million-year program. Two members of the race of hyper-intelligent pan-dimensional beings who commissioned the Earth in the first place disguise themselves as Trillian's mice, and want to dissect Arthur's brain to help reconstruct the question, since he was part of the Earth's matrix moments before it was destroyed, and so he is likely to have part of the question buried in his brain. Trillian is also human but had left Earth six months previously with Zaphod Beeblebrox, President of the Galaxy. The protagonists escape, setting course for "The Restaurant at the End of the Universe". The mice, in Arthur's absence, create a phony question since it is too troublesome for them to wait 10 million years again just to cash in on a lucrative deal.

 

[RJF19]

Whether intended or not , feels like a reference to The Hitchhiker's Guide to the Galaxy ,  

In The Hitchhiker's Guide to the Galaxy (published in 1979), the characters visit the legendary planet Magrathea, home to the now-collapsed planet-building industry, and meet Slartibartfast, a planetary coastline designer who was responsible for the fjords of Norway. Through archival recordings, he relates the story of a race of hyper-intelligent pan-dimensional beings who built a computer named Deep Thought to calculate the Answer to the Ultimate Question of Life, the Universe, and Everything. When the answer was revealed to be 42, Deep Thought explained that the answer was incomprehensible because the beings didn't know what they were asking. It went on to predict that another computer, more powerful than itself would be made and designed by it to calculate the question for the answer. (Later on, referencing this, Adams would create the 42 Puzzle, a puzzle which could be approached in multiple ways, all yielding the answer 42.)

The computer, often mistaken for a planet (because of its size and use of biological components), was the Earth, and was destroyed by Vogons to make way for a hyperspatial express route five minutes before the conclusion of its 10-million-year program. Two members of the race of hyper-intelligent pan-dimensional beings who commissioned the Earth in the first place disguise themselves as Trillian's mice, and want to dissect Arthur's brain to help reconstruct the question, since he was part of the Earth's matrix moments before it was destroyed, and so he is likely to have part of the question buried in his brain. Trillian is also human but had left Earth six months previously with Zaphod Beeblebrox, President of the Galaxy. The protagonists escape, setting course for "The Restaurant at the End of the Universe". The mice, in Arthur's absence, create a phony question since it is too troublesome for them to wait 10 million years again just to cash in on a lucrative deal.

 

Loved that book! (and the Movie) I wonder if Vogons traded with crypto?

[Griffith]

updated roadmap in second post. instead of jan 1st, website and services will launch january 10th due to a failure of some kind (not sure what it is, need to drive to the building to look still).

had decided not to make a graphic for the roadmap as things change too often and it would need to keep being updated. it is easier to just use text will clean up that post tomorrow though and add additional coin info the the first post

[Griffith]

im considering re-adding PoW alongside PoS in the future for ECC. it would be re-added along with a new algorithm to determine the max coin supply and whether or not coins are to be minted. i will post more about how that will work in the future (once i get the exact details ironed out)

[kiklo]

im considering re-adding PoW alongside PoS in the future for ECC. it would be re-added along with a new algorithm to determine the max coin supply and whether or not coins are to be minted. i will post more about how that will work in the future (once i get the exact details ironed out)

Hmm,

You should read this Topic.
Security analysis of PoW/PoS hybrids with low PoW reward
https://bitcointalk.org/index.php?topic=551861.0

It is a known security issue of Hybrid coins.


 

[Griffith]

im considering re-adding PoW alongside PoS in the future for ECC. it would be re-added along with a new algorithm to determine the max coin supply and whether or not coins are to be minted. i will post more about how that will work in the future (once i get the exact details ironed out)

Hmm,

You should read this Topic.
Security analysis of PoW/PoS hybrids with low PoW reward
https://bitcointalk.org/index.php?topic=551861.0

It is a known security issue of Hybrid coins.


 

from what i can see, most of that thread is people shit posting to get more people to buy blackcoin or to call blackcoin a scam, although there is some intent to keep the conversation legit. the main point rat pointed out about the chain of PoW being overrided by a PoS block in the OP is just plain wrong for the way coins run PoW PoS chains now(it may have been correct at the time but most systems use a more ordered mining sequence now because of problems like this)

edit: and then on page 4 crestington comes in and promotes his (now dead?) coin. which was just halarious timing

edit edit: to what i said about rat being wrong. this conversation might be the reason people use an ordered sequence now

[kiklo]

im considering re-adding PoW alongside PoS in the future for ECC. it would be re-added along with a new algorithm to determine the max coin supply and whether or not coins are to be minted. i will post more about how that will work in the future (once i get the exact details ironed out)

Hmm,

You should read this Topic.
Security analysis of PoW/PoS hybrids with low PoW reward
https://bitcointalk.org/index.php?topic=551861.0

It is a known security issue of Hybrid coins.


 

from what i can see, most of that thread is people shit posting to get more people to buy blackcoin or to call blackcoin a scam, although there is some intent to keep the conversation legit. the main point rat pointed out about the chain of PoW being overrided by a PoS block in the OP is just plain wrong for the way coins run PoW PoS chains now(it may have been correct at the time but most systems use a more ordered mining sequence now because of problems like this)

edit: and then on page 4 crestington comes in and promotes his (now dead?) coin. which was just hilarious timing

edit edit: to what i said about rat being wrong. this conversation might be the reason people use an ordered sequence now

Are their any links to the ordered sequence the hybrids use now, I like to read it. 


 

[Griffith]

im considering re-adding PoW alongside PoS in the future for ECC. it would be re-added along with a new algorithm to determine the max coin supply and whether or not coins are to be minted. i will post more about how that will work in the future (once i get the exact details ironed out)

Hmm,

You should read this Topic.
Security analysis of PoW/PoS hybrids with low PoW reward
https://bitcointalk.org/index.php?topic=551861.0

It is a known security issue of Hybrid coins.


 

from what i can see, most of that thread is people shit posting to get more people to buy blackcoin or to call blackcoin a scam, although there is some intent to keep the conversation legit. the main point rat pointed out about the chain of PoW being overrided by a PoS block in the OP is just plain wrong for the way coins run PoW PoS chains now(it may have been correct at the time but most systems use a more ordered mining sequence now because of problems like this)

edit: and then on page 4 crestington comes in and promotes his (now dead?) coin. which was just hilarious timing

edit edit: to what i said about rat being wrong. this conversation might be the reason people use an ordered sequence now

Are their any links to the ordered sequence the hybrids use now, I like to read it. 


 

what i mean by that is: if you look at the thread it shows how they proved the mint PoW PoS was broken by forcing it to only PoW for an hour and PoW difficulty was next to nothing. A few possible fixes were suggested, a few of them i see used in newer coins. The first one was that the PoW difficutly was very low compared PoS due to having almost no reward and it made it easy to fork. I have seen coins using the same difficulty system for both PoS and PoW.

also it forced the chain into only PoW for an hour and then the chain resumed as normal, i now see chains that require a certain number of PoW and PoS blocks per every X length segments of blocks.
Example would be: every 10 blocks requires at least 4 PoW and 4 PoS blocks. This makes that fork the chain into very low attackable PoW attack a lot harder

The last thing i have seen is a not 1 coin low PoW system. keeping the PoW system in a reward rate that is good enough to compete with PoS so the difficulty doesnt shrink down to nothing.


i personally was considering having the chain rotate between PoS and PoW requiring a certain number of both in any given segments of blocks that is X long.  was also on planning on making PoW reward beteen 10k and 20k coins which is about the same as most PoS rewards i see on the chain. PoW and PoS would also share the same difficulty, since ECC is a scrypt coin asics are more than welcome as they keep a network more secure.

[kiklo]

what i mean by that is: if you look at the thread it shows how they proved the mint PoW PoS was broken by forcing it to only PoW for an hour and PoW difficulty was next to nothing. A few possible fixes were suggested, a few of them i see used in newer coins. The first one was that the PoW difficutly was very low compared PoS due to having almost no reward and it made it easy to fork. I have seen coins using the same difficulty system for both PoS and PoW.

also it forced the chain into only PoW for an hour and then the chain resumed as normal, i now see chains that require a certain number of PoW and PoS blocks per every X length segments of blocks.
Example would be: every 10 blocks requires at least 4 PoW and 4 PoS blocks. This makes that fork the chain into very low attackable PoW attack a lot harder

The last thing i have seen is a not 1 coin low PoW system. keeping the PoW system in a reward rate that is good enough to compete with PoS so the difficulty doesnt shrink down to nothing.

i personally was considering having the chain rotate between PoS and PoW requiring a certain number of both in any given segments of blocks that is X long.  was also on planning on making PoW reward beteen 10k and 20k coins which is about the same as most PoS rewards i see on the chain. PoW and PoS would also share the same difficulty, since ECC is a scrypt coin asics are more than welcome as they keep a network more secure.

Ok , will be interesting to see how the PoW miners take to ECC.

FYI:
Since you are going hybrid, Theymos was actually proposing BTC switch to a 3 way Hybrid
https://bitcointalk.org/index.php?topic=1654457

 

[Griffith]

what i mean by that is: if you look at the thread it shows how they proved the mint PoW PoS was broken by forcing it to only PoW for an hour and PoW difficulty was next to nothing. A few possible fixes were suggested, a few of them i see used in newer coins. The first one was that the PoW difficutly was very low compared PoS due to having almost no reward and it made it easy to fork. I have seen coins using the same difficulty system for both PoS and PoW.

also it forced the chain into only PoW for an hour and then the chain resumed as normal, i now see chains that require a certain number of PoW and PoS blocks per every X length segments of blocks.
Example would be: every 10 blocks requires at least 4 PoW and 4 PoS blocks. This makes that fork the chain into very low attackable PoW attack a lot harder

The last thing i have seen is a not 1 coin low PoW system. keeping the PoW system in a reward rate that is good enough to compete with PoS so the difficulty doesnt shrink down to nothing.

i personally was considering having the chain rotate between PoS and PoW requiring a certain number of both in any given segments of blocks that is X long.  was also on planning on making PoW reward beteen 10k and 20k coins which is about the same as most PoS rewards i see on the chain. PoW and PoS would also share the same difficulty, since ECC is a scrypt coin asics are more than welcome as they keep a network more secure.

Ok , will be interesting to see how the PoW miners take to ECC.

FYI:
Since you are going hybrid, Theymos was actually proposing BTC switch to a 3 way Hybrid
https://bitcointalk.org/index.php?topic=1654457

 

eh. not looking to run something that expiremental