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

[xchrix]

thank you very very much!! its working. right now its downloading the data. i will try to get some coins on it
what is your PPC address? to send you the coins??

[1713957205]

1713957205

[rdponticelli]

thank you very very much!! its working. right now its downloading the data. i will try to get some coins on it
what is your PPC address? to send you the coins??

Nice to know it worked 

PTgX8wYxnzP7VTND55vhGWpsbeWEFfbUQS

[xchrix]

just sent you 1000 PPC

[EskimoBob]

i do really love PPC but WHY is there no QT GUI for linux?
has somebody compiled this thing? i would give away some coins for this! lets say 1000 PPC?

I have it running on my PC (KDE) as I write this. Looks good too.

The way I do it:

1. Download and install QT creator through whatever software manager your distro uses.

2. Start up QT creator and have it open the bitcoin-qt.pro file in the ppcoin.../src  folder.

3. Have QT creator then build (The hammer icon on the bottom) the binary. You can ignore the warnings, the base bitcoin client takes many liberties when it comes to programming technique, and most compilers will give warning like crazy. You will need to worry about errors as they stop the compiling process. You may need to install some dependencies. They are listed in the install read me for Linux.

4. After successful compiling you should have your QT binary ready to go.

I must be missing something here.
All I did was:

Code:

$ qmake 
$ make 

[rdponticelli]

just sent you 1000 PPC

Received, thank you. 

[dreamwatcher]

i do really love PPC but WHY is there no QT GUI for linux?
has somebody compiled this thing? i would give away some coins for this! lets say 1000 PPC?

I have it running on my PC (KDE) as I write this. Looks good too.

The way I do it:

1. Download and install QT creator through whatever software manager your distro uses.

2. Start up QT creator and have it open the bitcoin-qt.pro file in the ppcoin.../src  folder.

3. Have QT creator then build (The hammer icon on the bottom) the binary. You can ignore the warnings, the base bitcoin client takes many liberties when it comes to programming technique, and most compilers will give warning like crazy. You will need to worry about errors as they stop the compiling process. You may need to install some dependencies. They are listed in the install read me for Linux.

4. After successful compiling you should have your QT binary ready to go.

I must be missing something here.
All I did was:

Code:

$ qmake 
$ make 

Nope, your not missing anything. My thought is if somebody is having compilation problems, it can be easier to point them to a GUI app then command line utilities.

The GUI app will tend to give out more information and hints on how to solve the errors. The command line std. outputs can be quite cryptic, especially when trying to sift through all the "warnings" vs. errors 

Anyway, qmake-make is just fine, in fact QT creator uses both those utilities to compile. I just try and peel back one layer of difficulty for somebody already having problems.

[EskimoBob]

one more "requirement" in doc/readme-qt.rst is the "libdb4.8++-dev"

Code:

First, make sure that the required packages for Qt4 development of your
distribution are installed, for Debian and Ubuntu these are:

::

    apt-get install qt4-qmake libqt4-dev build-essential libboost-dev libboost-system-dev \
        libboost-filesystem-dev libboost-program-options-dev libboost-thread-dev \
        libssl-dev libdb4.8++-dev 

Why not use the latest available?
 

[rdponticelli]

one more "requirement" in doc/readme-qt.rst is the "libdb4.8++-dev"

Code:

First, make sure that the required packages for Qt4 development of your
distribution are installed, for Debian and Ubuntu these are:

::

    apt-get install qt4-qmake libqt4-dev build-essential libboost-dev libboost-system-dev \
        libboost-filesystem-dev libboost-program-options-dev libboost-thread-dev \
        libssl-dev libdb4.8++-dev 

Why not use the latest available?
 

Trying to univocally determine libdb isn't a bad idea because it could lead to compatibility and portability issues. If you open your wallet with a newer libdb, it will upgrade the wallet's db version and it will stop working with previous versions. That's why libdb version usually is determined, and even statically linked.

[EskimoBob]

New Difficulty record: 30 130 
Massive jump started on 28/29 when BTC halved and it's mining became close to 2x less profitable than mining PPC and 2.2 x less profitable than LTC 

[Sunny King]

Christian Eisenberg seems to be beta testing at http://www.cryptocoinsend.com/ where you can send ppcoin (and litecoin) to anybody via email.

Gratz to Christian 

[xchrix]

Christian Eisenberg seems to be beta testing at http://www.cryptocoinsend.com/ where you can send ppcoin (and litecoin) to anybody via email.

Gratz to Christian 

thank you for the mention its true. unfortunately this week i dont have time for this project too many daywork todo. i will give my best! there is also www.cryptocoincharts.info which i made. with some PPC charts!

[sangaman]

Sunny King, any updates on what's being done with development for ppcoin and an official GUI? Or anything about potential changes to the framework or blockchain you might be considering down the road? I also think some changes to make the website more appealing and navigable would be good to attract new users, any thoughts on this? I keep up with the weekly updates but I feel those have recently been just about difficulty and valuation, not about development or plans for the future.

[Sunny King]

Sunny King, any updates on what's being done with development for ppcoin and an official GUI? Or anything about potential changes to the framework or blockchain you might be considering down the road? I also think some changes to make the website more appealing and navigable would be good to attract new users, any thoughts on this? I keep up with the weekly updates but I feel those have recently been just about difficulty and valuation, not about development or plans for the future.

Gui work has been largely done in v0.2.2. What's left is to support gui builds in official build. Currently there are gui builds done by community members.

I have outlined my plan for 2013 in my other post about an auxiliary transaction design. This design allows transaction to expire and reclaim the space it uses in the block chain. Then supporting features similar to those of namecoin would be considered, and allow ppcoin to be used by other apps as a distributed key-value store with expiration. This design would allow ppcoin to scale better than namecoin for these applications.

I am also going to look into making a test app for a web-of-trust system, to utilize the above feature.

In the meantime, security and proper operation of ppcoin network is still my top priority. So the auxiliary transaction proposal is secondary depending on other more important work.

[rex]

Sunny King, any updates on what's being done with development for ppcoin and an official GUI? Or anything about potential changes to the framework or blockchain you might be considering down the road? I also think some changes to make the website more appealing and navigable would be good to attract new users, any thoughts on this? I keep up with the weekly updates but I feel those have recently been just about difficulty and valuation, not about development or plans for the future.

Gui work has been largely done in v0.2.2. What's left is to support gui builds in official build. Currently there are gui builds done by community members.

I have outlined my plan for 2013 in my other post about an auxiliary transaction design. This design allows transaction to expire and reclaim the space it uses in the block chain. Then supporting features similar to those of namecoin would be considered, and allow ppcoin to be used by other apps as a distributed key-value store with expiration. This design would allow ppcoin to scale better than namecoin for these applications.

I am also going to look into making a test app for a web-of-trust system, to utilize the above feature.

In the meantime, security and proper operation of ppcoin network is still my top priority. So the auxiliary transaction proposal is secondary depending on other more important work.

Keep up the good work, Sunny King. Whether or not PPCoin will succeed, I'll always pay attention to it. It may not be perfect at the beginning, but I believe it's an important step towards a better alternate cryptocurrency.

[cunicula]

Sunny King, any updates on what's being done with development for ppcoin and an official GUI? Or anything about potential changes to the framework or blockchain you might be considering down the road? I also think some changes to make the website more appealing and navigable would be good to attract new users, any thoughts on this? I keep up with the weekly updates but I feel those have recently been just about difficulty and valuation, not about development or plans for the future.

Gui work has been largely done in v0.2.2. What's left is to support gui builds in official build. Currently there are gui builds done by community members.

I have outlined my plan for 2013 in my other post about an auxiliary transaction design. This design allows transaction to expire and reclaim the space it uses in the block chain. Then supporting features similar to those of namecoin would be considered, and allow ppcoin to be used by other apps as a distributed key-value store with expiration. This design would allow ppcoin to scale better than namecoin for these applications.

I am also going to look into making a test app for a web-of-trust system, to utilize the above feature.

In the meantime, security and proper operation of ppcoin network is still my top priority. So the auxiliary transaction proposal is secondary depending on other more important work.

Keep up the good work, Sunny King. Whether or not PPCoin will succeed, I'll always pay attention to it. It may not be perfect at the beginning, but I believe it's an important step towards a better alternate cryptocurrency.

+1 on the keep up the good work.

Could you consider removing mandatory checkpoints? You can always reintroduce them if problems arise. If users find checkpoints beneficial, then they will accept their reintroduction.

[molecular]

I still don't fully understand ppcoin.



Maybe it would help if someone explained this tx to me.

[cunicula]

I still don't fully understand ppcoin.



Maybe it would help if someone explained this tx to me.

That is stake generation.
 
You had 284.491818 coins which you withdrew from bitparking about 34.7 days ago on 10/29 before this txn occurred. These inputs have sat in your wallet accumulating age.

As time passes, your client has tried to combine these inputs to mint a stake block. Each new second (or milisecond or some time unit) generates a new iteration which can allow the inputs to mint a block meeting the difficulty target. (Much like running a mining rig using the inputs as hardware.) The success rate (probability of minting per unit time) increases linearly with the product of coins*min(time since coins were received,90 days).

On Dec 3, attempts using the 284.491818 coins succeeded and you minted a block. The coins were approx 34.7 days old when your success occurred. You are entitled to 1% interest per year as reward. Your interest entitlement is then 34.7/365=0.095%. The principal was 284.491818 PPC. Therefore the interest is 0.27 PPC. The outputs will be escrowed for a while and then become spendable again (I think 30 days).

Congratulations you are 0.27 PPC richer. Your block was empty. However, had it contained txns, the fees for these txns would have been destroyed.

If you want to try double-spending, then you can accumulate a huge amount in 6 different inputs and try to get 6 blocks in a row. Just keep trying to do this in secret until they arrive fast enough to overtake the main chain. It is not clear how difficult this is. It depends on 1) how many coins you have and 2) how many other coins are searching for blocks concurrently. If most of the other coin holders are online, it is probably almost impossible (too expensive to ever be worth doing). If no one else is online, then it is trivial.

Of course this consideration is moot until checkpoints are removed.

BTW As I understand it, PoW blocks don't do anything useful in PPCoin at all. They are just there to pass out free coins. Aside from checkpoints, txns in PoW blocks are not secured with any confirmations until a PoS block is mined. (i.e. [w/o checkpoints]  Txn in PoW block = uncomfirmed txn)  This is the justification for the checkpoints.

Of course, you could ask if so, then why allow PoW blocks to have txns at all? I don't know the answer. I guess the checkpoints secure your block reward. It would seem better to include PoW generation as a txn in a proof of stake block rather than make it a "block".


 

[molecular]

I still don't fully understand ppcoin.

PIC REMOVED

Maybe it would help if someone explained this tx to me.

That is stake generation.
 
You had 284.491818 coins which you withdrew from bitparking about 34.7 days ago on 10/29 before this txn occurred. These inputs have sat in your wallet accumulating age.

As time passes, your client has tried to combine these inputs to mint a stake block. Each new second (or milisecond or some time unit) generates a new iteration which can allow the inputs to mint a block meeting the difficulty target. (Much like running a mining rig using the inputs as hardware.) The success rate (probability of minting per unit time) increases linearly with the product of coins*min(time since coins were received,90 days).

On Dec 3, attempts using the 284.491818 coins succeeded and you minted a block. The coins were approx 34.7 days old when your success occurred. You are entitled to 1% interest per year as reward. Your interest entitlement is then 34.7/365=0.095%. The principal was 284.491818 PPC. Therefore the interest is 0.27 PPC. The outputs will be escrowed for a while and then become spendable again (I think 30 days).

Congratulations you are 0.27 PPC richer. Your block was empty. However, had it contained txns, the fees for these txns would have been destroyed.

If you want to try double-spending, then you can accumulate a huge amount in 6 different inputs and try to get 6 blocks in a row. Just keep trying to do this in secret until they arrive fast enough to overtake the main chain. It is not clear how difficult this is. It depends on 1) how many coins you have and 2) how many other coins are searching for blocks concurrently. If most of the other coin holders are online, it is probably almost impossible (too expensive to ever be worth doing). If no one else is online, then it is trivial.

Of course this consideration is moot until checkpoints are removed.

BTW As I understand it, PoW blocks don't do anything useful in PPCoin at all. They are just there to pass out free coins. Aside from checkpoints, txns in PoW blocks are not secured with any confirmations until a PoS block is mined. (i.e. [w/o checkpoints]  Txn in PoW block = uncomfirmed txn)  This is the justification for the checkpoints.

Of course, you could ask if so, then why allow PoW blocks to have txns at all? I don't know the answer. I guess the checkpoints secure your block reward. It would seem better to include PoW generation as a txn in a proof of stake block rather than make it a "block".

Thanks cunicula, that explains a lot.

Why didn't I use the even older inputs I had to mint the proof-of-stake block? Like the 500.824654 PPC from 10/28?

[cunicula]

I still don't fully understand ppcoin.

PIC REMOVED

Maybe it would help if someone explained this tx to me.

That is stake generation.
 
You had 284.491818 coins which you withdrew from bitparking about 34.7 days ago on 10/29 before this txn occurred. These inputs have sat in your wallet accumulating age.

As time passes, your client has tried to combine these inputs to mint a stake block. Each new second (or milisecond or some time unit) generates a new iteration which can allow the inputs to mint a block meeting the difficulty target. (Much like running a mining rig using the inputs as hardware.) The success rate (probability of minting per unit time) increases linearly with the product of coins*min(time since coins were received,90 days).

On Dec 3, attempts using the 284.491818 coins succeeded and you minted a block. The coins were approx 34.7 days old when your success occurred. You are entitled to 1% interest per year as reward. Your interest entitlement is then 34.7/365=0.095%. The principal was 284.491818 PPC. Therefore the interest is 0.27 PPC. The outputs will be escrowed for a while and then become spendable again (I think 30 days).

Congratulations you are 0.27 PPC richer. Your block was empty. However, had it contained txns, the fees for these txns would have been destroyed.

If you want to try double-spending, then you can accumulate a huge amount in 6 different inputs and try to get 6 blocks in a row. Just keep trying to do this in secret until they arrive fast enough to overtake the main chain. It is not clear how difficult this is. It depends on 1) how many coins you have and 2) how many other coins are searching for blocks concurrently. If most of the other coin holders are online, it is probably almost impossible (too expensive to ever be worth doing). If no one else is online, then it is trivial.

Of course this consideration is moot until checkpoints are removed.

BTW As I understand it, PoW blocks don't do anything useful in PPCoin at all. They are just there to pass out free coins. Aside from checkpoints, txns in PoW blocks are not secured with any confirmations until a PoS block is mined. (i.e. [w/o checkpoints]  Txn in PoW block = uncomfirmed txn)  This is the justification for the checkpoints.

Of course, you could ask if so, then why allow PoW blocks to have txns at all? I don't know the answer. I guess the checkpoints secure your block reward. It would seem better to include PoW generation as a txn in a proof of stake block rather than make it a "block".

Thanks cunicula, that explains a lot.

Why didn't I use the even older inputs I had to mint the proof-of-stake block? Like the 500.824654 PPC from 10/28?

There is a random arrival rate for each input (with the probability of arrival per unit time proportional to input value*age, with age accumulation capped at 60 days). You are constantly trying to find a winning permutation with all the inputs you have. The inputs from 10/29 happened to get lucky. These inputs probably won't find a block for another month or so [I'm guessing]. Your other inputs are still making attempts and should get lucky soon enough (provided you keep the client running).

[Sunny King]

I still don't fully understand ppcoin.

Maybe it would help if someone explained this tx to me.

Upgrading to a v0.2.2 gui should show it properly as a 'mint by stake' transaction.