[ANN] [PPC] PPCoin Released! - First Long-Term Energy-Efficient Crypto-Currency

[dreamwatcher]

What was the starting difficulty of PPC? Was it 1? Or 256?

I hope I do not regret answering what appears to be a non troll question from Smoothie:

Genesis Block was 1 Difficulty with 0 coins generated:
http://www.ppcexplore.org:2750/block/0000000032fe677166d54963b62a4677d8957e87c508eaa4fd7eb1c880cd27e3

Code:

PPcoin 0
Proof of Work
0 Coins Generated

Hash: 0000000032fe677166d54963b62a4677d8957e87c508eaa4fd7eb1c880cd27e3
Next Block: 00000000000be4e024af5071ba515c7510767f42ec9e40c5fba56775ff296658
Height: 0
Transaction Merkle Root: 3c2d8f85fab4d17aac558cc648a1a58acff0de6deb890c29985690052c5993c2
Time: 1345084287 (2012-08-16 02:31:27)
Difficulty: 1.000 (Bits: 1d00ffff)
Nonce: 2179302059
Transactions: 1
Value out: 0
Coin-days Destroyed: 0

Block 1 was 256 difficulty with 2499.75 coin generated.
http://www.ppcexplore.org:2750/block/00000000000be4e024af5071ba515c7510767f42ec9e40c5fba56775ff296658

Code:

PPcoin 1
Proof of Work
2499.75 Coins Generated

Hash: 00000000000be4e024af5071ba515c7510767f42ec9e40c5fba56775ff296658
Previous Block: 0000000032fe677166d54963b62a4677d8957e87c508eaa4fd7eb1c880cd27e3
Next Block: 0000000000fdfc564b25df5858ad9f5e3378d9102a22d5c785f9ab92ec3a304a
Height: 1
Transaction Merkle Root: 1bdae84eff34e15399335fc2a48c70fa6b0b9caf972e38b0e3bda106d223f668
Time: 1345400356 (2012-08-19 18:19:16)
Difficulty: 256.003 (Bits: 1c00ffff)
Nonce: 1915373966
Transactions: 1
Value out: 2499.75
Average Coin Age: 0 days
Coin-days Destroyed: 0

[peepee]

Awwww wierded or scared? 

Both.

Do I dare ask if you own some PPC now?

I do.

Do you?

[smoothie]

Awwww wierded or scared? 

Both.

Do I dare ask if you own some PPC now?

I do.

Do you?

I might, I might not.

But I am considering selling 1 or 2 silver eagle coins for PPC. I'm just doing my homework first.

[Liquid]

How much PPC do you want for your silver eagle ?

[smoothie]

How much PPC do you want for your silver eagle ?

I'll make a thread if I decide to sell some. 

[Liquid]

K hope you do 

[Sunny King]

Weekly Update #11

https://bitcointalk.org/index.php?topic=114994.msg1317161#msg1317161

[Sunny King]

I have done some work on the qt to allow gui users to properly see stake transactions. Total stake amount is also added to the overview page.

Expect v0.2.2 release next week to include this improvement. However there will be no official build support of qt-gui for v0.2.2 and users can self-build or acquire community released builds.

[cunicula]

Sunny, are you working on anything to help protect stake signers against theft?

It is pretty important that people with large balances feel that the benefits of stake block generation (interest) exceed the costs (theft risk).

[Sunny King]

Not right now. I saw you made some good proposal in the other thread. I will be cautious about this so when I get some time I will evaluate different options.

[cunicula]

Not right now. I saw you made some good proposal in the other thread. I will be cautious about this so when I get some time I will evaluate different options.

Great. When the time comes, I hope there can be a public discussion.

[Sunny King]

Sure of course I will comment in its dedicated thread when I get to think about it 

[EskimoBob]

I looked around a bit but did not find any information about the total network hashing power or speed.
http://www.proofofstake.com/ has some nice charts but no total network "speed" information.

[cunicula]

I looked around a bit but did not find any information about the total network hashing power or speed.
http://www.proofofstake.com/ has some nice charts but no total network "speed" information.

Yes, that website is helpful. Since difficulty is adjusted continuously (rather than once every 2 weeks), network speed should be closely related to difficulty, even over short time intervals.

[smoothie]

I looked around a bit but did not find any information about the total network hashing power or speed.
http://www.proofofstake.com/ has some nice charts but no total network "speed" information.

Yes, that website is helpful. Since difficulty is adjusted continuously (rather than once every 2 weeks), network speed should be closely related to difficulty, even over short time intervals.

The variable of stake blocks generated gives the illusion of hash power applied to the network. The overall network speed in actual GH/s is much less than you would expect.

It is an interesting concept even though it is misleading.

[cunicula]

The variable of stake blocks generated gives the illusion of hash power applied to the network. The overall network speed in actual GH/s is much less than you would expect.

It is an interesting concept even though it is misleading.

Changes in difficulty are not misleading. The difficulty levels for PoW and PoS are completely separate. The graph only shows PoW difficulty, same as in bitcoin. When difficulty doubles, hashing power has doubled.

[smoothie]

The variable of stake blocks generated gives the illusion of hash power applied to the network. The overall network speed in actual GH/s is much less than you would expect.

It is an interesting concept even though it is misleading.

Changes in difficulty are not misleading. The difficulty levels for PoW and PoS are completely separate. The graph only shows PoW difficulty, same as in bitcoin. When difficulty doubles, hashing power has doubled.

So then where is all that extra hashing power?

Both pools dont show it. So I guess it is a solo miner?

If you look at the block explorer you will see that there is much more PoS blocks than PoW blocks (recently). No way could the difficulty be going up because of more hashing power being added when there are hours between PoW blocks at times.

P.S. Last time I checked PoW difficulty is based upon how many blocks are found over time. If blocks are found less frequently wouldn't the difficulty go down? Obviously that is not the case given the current PPC PoW block generation.

I'm curious to your response to this to justify the increase in difficulty in PPC.

LOL

 

Smoothie

[cunicula]

I dunno. PPCexplore is down currently. Based on the decrease in the mint rate, you are likely right that the hash rate spiked and then went down recently. Difficulty is an estimate of the current hash rate and adjusts much more quickly than in bitcoin. If the hash rate went down, then difficulty will follow.

[smoothie]

I dunno. PPCexplore is down currently. Based on the decrease in the mint rate, you are likely right that the hash rate spiked and then went down recently. Difficulty is an estimate of the current hash rate and adjusts much more quickly than in bitcoin. If the hash rate went down, then difficulty will follow.

Which has not been the case if you watch the two pools for PPC. Hash power has not increased 2.5 times yet difficulty has.

[Sunny King]

Smoothie's observation is correct, while proof-of-stake generation approaches 10 minute target, proof-of-work difficulty would increase and proof-of-work blocks become more sparse. This is because proof-of-work generation spacing target is designed to be variable between 10 minutes and 2 hours.

If you would like to compare hashing power to bitcoin network (10-minute fixed spacing target), typically a 3x multiplier can be roughly applied. That is, if I assume proof-of-stake generation now reached 10-minute spacing target, then I estimate that proof-of-work spacing target is around 30 minutes thus in terms of hashing power in the network it's equivalent to a bitcoin difficulty of 7000 out of the 21000 difficulty.

This means you cannot directly compare the difficulty to other networks for the purpose of total network hashing power. Given the same difficulty ppcoin network would run with much less hash power than bitcoin network.

After proof-of-stake generation stabilizes, an increase in proof-of-work difficulty would again reflect a proportional increase of network hashing rate.