Slimcoin | First Proof of Burn currency | Decentralized Web

[johnwhitestar]

FTR:

It's PoW mining, just as Iain Stewart described it back in Dec 2012: https://en.bitcoin.it/wiki/Proof_of_burn: "Burnt coins are mining rigs!"

printf("CPUMiner started for proof-of-burn\n");

https://github.com/slimcoin-project/Slimcoin/blob/dffb8f27dae301758523acce8de4359ce0d383aa/src/main.cpp#L5618:

Code:

                //hash it as if it was not our block and test if the hash matches our claimed hash
                uint256 hasher;
                GetBurnHash(pblock->hashPrevBlock, pblock->burnBlkHeight, pblock->burnCTx, 
                                        pblock->burnCTxOut, hasher, use_burn_hash_intermediate(pblock->nTime));

printf("CPUMiner : proof-of-burn block found %s\n", pblock->GetHash().ToString().c_str());

Perhaps the advert could include a reference to the bitcoin wiki page because it attests to Slimcoin's status as a senior altcoin with a unique distribution mechanism.

Cheers

Graham

I hope there is a possibility to put hyperlinks there. Thank you for your suggestions!

[d5000]

Regarding the mining/minting issue: Both Peercoin's (and Slimcoin's) PoS "minting" and Slimcoin's PoB "minting/mining" are variations of CPU mining like Graham correctly stated. The difference with PoW mining is that difficulty in PoS and PoB is not global, but individual (per address) and depends: in PoS, from the coin-years of your UTXOs (the amount of SLM multiplicated with the years you hould them without moving), and in PoB, from the "effective burnt coins" (the coins sent to the burn address minus "decayed burnt coins").

So technically, both are "mining" - i.e., when searching for a block, the algorithm searches for a number (a matching hash) with a certain amount of zeroes at the start (the more zeroes, the more difficult it is). However, in the altcoin "jargon" PoS is referred to often as "minting" (or "forging") because the needed computing power is drastically influenced by the coins you held, and not so much on the amount of "work" the computer has to provide, so the comparison with a working real-world "miner" isn't that suitable. In PoB, it's exactly like in PoS, only that the amount of coins burnt is the decisive factor.

[johnwhitestar]

There is an interesting ongoing discussion with Graham on Discord.

So I'm editing our announcement with Graham's suggestions:

"Officially announced on May 17th, 2014 and fairly launched 4 days later Slimcoin is one of the few truly decentralized coins around. Whoever wants to join and contribute to its development in any way is welcome. Its Proof-of-Burn (or virtual mining) algorithm, that by the recent estimates provides up to 30% of yearly SLM returns, grants to everybody the possibility to mine coins without any specific hardware and with a minimal computing power employed. It also contributes to a balanced power structure without an almighty elite and to a clean environment for the future generations. The economic model that is behind the Proof-of-Burn mechanism is not within the get-rich-fast logic, but rewards the long-term involvement. So Slimcoin has a potential to shine should the traditional coin’s markets become saturated. Along with a unique mining mechanism, Slimcoin offers the ASICs resistant CPU mining algorithm dcrypt and PoS. The community is active on Discord and Bitcointalk."

I'll try to put hyperlinks on first Proof-of-Burn mention and on the words "Discord" and "Bitcointalk" at the end of the text.
If there is any other suggestion please speak now or forever hold your peace as we are already a bit late with delivery and I'd say it's mandatory to send the announcement this weekend.

[d5000]

Small typo: it's dcrypt, not dcypt. Only if you didn't see it. Otherwise, I think it's a good text.

[eddycurrent]

There is an interesting ongoing discussion with Graham on Discord.

So I'm editing our announcement with Graham's suggestions:

"Officially announced on May 17th, 2014 and fairly launched 4 days later Slimcoin is one of the few truly decentralized coins around. Whoever wants to join and contribute to its development in any way is welcome. Its Proof-of-Burn (or virtual mining) algorithm, that by the recent estimates provides up to 30% of yearly SLM returns, grants to everybody the possibility to mine coins without any specific hardware and with a minimal computing power employed. It also contributes to a balanced power structure without an almighty elite and to a clean environment for the future generations. The economic model that is behind the Proof-of-Burn mechanism is not within the get-rich-fast logic, but rewards the long-term involvement. So Slimcoin has a potential to shine should the traditional coin’s markets become saturated. Along with a unique mining mechanism, Slimcoin offers the ASICs resistant CPU mining algorithm dcypt and PoS. The community is active on Discord and Bitcointalk."

I'll try to put hyperlinks on first Proof-of-Burn mention and on the words "Discord" and "Bitcointalk" at the end of the text.
If there is any other suggestion please speak now or forever hold your peace as we are already a bit late with delivery and I'd say it's mandatory to send the announcement this weekend.

Yes looks good. Thanks for taking the initiative to get this done.

[johnwhitestar]

Small typo: it's dcrypt, not dcypt. Only if you didn't see it. Otherwise, I think it's a good text.

Edited! Thank you very much  

Yes looks good. Thanks for taking the initiative to get this done.

SLM is a good place to stay. Thank you to everybody for the help provided  

[eddycurrent]

Hello all,

If anyone running linux wants a pre-compiled binary that should work on any linux version I have made a bundle and uploaded it here https://drive.google.com/open?id=1lGadgz-miSXi5EFbW7TuYndE6c1fBqSr. This must be run using the shell script in the base directory.
This was compiled from the master branch last night on ubuntu18.04 with libdb5.3 (WARNING: this version of libdb may cause some compatibility issues with prexisting databases.)
This should have support for UPNP, QR codes, and DBUS notifications. If any of these are missing or there are other issues, please let me know.

[eddycurrent]

I have made more progress on packaging for linux. There is now a standalone flatpak bundle availalble at this link(https://drive.google.com/open?id=1o1Xi1W5T8jXh7tB66GtQuoYVx-7Cjius). If you have flatpak installed on your system you should be able to install this with the command

Code:

sudo flatpak install slimcoin-qt.flatpak

It is strongly recommended to use this over the bundle I released on saturday as it contains the same binary but is self contained and also removes an issue I found with that bundle in that it does not include the libdb5.3 file. It also provides integration with the system to place slimcoin in the application menu in the window manager. If someone can test this and give me feedback it would be appreciated.

[eddycurrent]

I have made more progress on packaging for linux. There is now a standalone flatpak bundle availalble at this link(https://drive.google.com/open?id=1o1Xi1W5T8jXh7tB66GtQuoYVx-7Cjius). If you have flatpak installed on your system you should be able to install this with the command

Code:

sudo flatpak install slimcoin-qt.flatpak

It is strongly recommended to use this over the bundle I released on saturday as it contains the same binary but is self contained and also removes an issue I found with that bundle in that it does not include the libdb5.3 file. It also provides integration with the system to place slimcoin in the application menu in the window manager. If someone can test this and give me feedback it would be appreciated.

Just as a quick note to add to this, if you are on Ubuntu 16.04 you will need to remove the "sudo" from the beginning of the command to avoid ownership issues. This may apply to other versions  but I have not tested it.

[gavrilo77]

Happy New Year to all!!!

[johnwhitestar]

Happy New Year to all!!!

Happy New Year! Hope 2020 will be a great year for SLM!

[eddycurrent]

Hello all, here are some more detailed instructions for the flatpak (https://drive.google.com/open?id=1o1Xi1W5T8jXh7tB66GtQuoYVx-7Cjius) for systems on which I have tested them.

Arch Linux:

Code:

sudo pacman -S flatpak
flatpak remote-add --if-not-exists flathub https://dl.flathub.org/repo/flathub.flatpakrepo

reboot, then

Code:

sudo flatpak install slimcoin-qt.flatpak

Ubuntu 16.04:

Code:

sudo add-apt-repository ppa:alexlarsson/flatpak
sudo apt update
sudo apt install flatpak
flatpak remote-add --if-not-exists flathub https://dl.flathub.org/repo/flathub.flatpakrepo

reboot, then (note the absence of sudo on this version)

Code:

flatpak install slimcoin-qt.flatpak

Ubuntu 18.04 and 19.10:

Code:

sudo apt install flatpak
flatpak remote-add --if-not-exists flathub https://dl.flathub.org/repo/flathub.flatpakrepo

reboot, then

Code:

sudo flatpak install slimcoin-qt.flatpak

If you have any issues, please let me know.

[johnwhitestar]

I've created a new channel on SLM's Discord and called it #ideas_brainstorming.
If you have any idea you need to brainstorm you are welcome! (not SLM only)

[eddycurrent]

Hello all,

Thanks to @johnwhitestar I have found and resolved an issue with the slimcoin-qt flatpak which meant that it could not access the .slimcoin directory. The latest version is available here (https://drive.google.com/open?id=1vSStIzz8fw_Fv6e3GUBX8Ja_1QBZ7xql).

My apologies to anyone who tried to use the previous version.

Regards

[Twinkledoe]

I've created a new channel on SLM's Discord and called it #ideas_brainstorming.
If you have any idea you need to brainstorm you are welcome! (not SLM only)

But are there any activities planned for slimcoin this year? That may affect its current price in frei? At least achieve the 10-20sats price level. This is already an old coin so I understand maybe the development is laid back. But time to regain the enthusiasm from its supporters? I guess.

[johnwhitestar]

I've created a new channel on SLM's Discord and called it #ideas_brainstorming.
If you have any idea you need to brainstorm you are welcome! (not SLM only)

But are there any activities planned for slimcoin this year? That may affect its current price in frei? At least achieve the 10-20sats price level. This is already an old coin so I understand maybe the development is laid back. But time to regain the enthusiasm from its supporters? I guess.

Hi Twinkledoe,

thank you for asking!

I'd say we are doing a very intense brainstorming work on SLM's Discord these days. There are some ideas we looking into. Please come and judge by yourself what I'm speaking about and don't hesitate to participate if you feel like. The basic idea is to let everybody in, differently from many other more or less centralized coins around.

@d5k has recently reported the work on the PoD token is going on, so there is a good hope in that direction as well.

However I'm seeing a relatively big wall around 8 sats on freiexchange, so quite a significant enthusiasm would be needed to break though.

But of course you never know what the future brings. 

[dzarmush]

Green day on Frei, especially great to see during these sad days

[johnwhitestar]

Green day on Frei, especially great to see during these sad days

Yep, SLM x13 and n° 5 on Freiexchange right now  

[d5000]

That's cool! Probably this weekend I will back to the discussion about the PoD token. The simple PoD token alpha has already been released in early March (see here and the Github repo linked in the article) but it's still running on Peercoin Testnet and is still difficult to use.

[gavrilo77]

Can we put SLM on https://c-patex.com/voting-en.php for voting?