Siberian chervonets (SIB) Algorithm X11-gost

[a23sd12122121]

Some news coming up? Thats why sib gong to the moon!

[CipherUno]

Hey just wanna share some great news from Sibcoin team. A lot is done, a new Web Wallet is in the air and its gona have support for ColoredCoins (like erc223) http://wallet.sib.guru/ (its still alpha version) with a bit help i generated my first ColoredCoin on the Sibcoin platform.

https://sibexplorer.com is in final stages to, there you can see your ColoredCoins

example:
( https://sibexplorer.com/trans/0cdf2428090f18546ba1398de8736f5ebac5b76666842967af4b6baf895e9001 )

sibdeveloper.com is in works to and  sibcoin.news will be released for a better sibcoin news streeam.


Generate a new wallet and send me your ColorSib address, i send you some of my coins, just for fun

[CipherUno]

The team has started working on improving #sibSale service (http://sib.sale ). The improvements will result in increased security and stability of the Sib Sale service. Planned duration of works – 1 month.

[Earl_Vadim]

COINSTOCK
Cryptocurrency Exchange with fiat

https://coinstock.me   (ex. Taler-EX exchange)

Added new coins to the stock exchange.

SIB (SIB/BTC,  SIB/ETH, SIB/USD, SIB/RUR, SIB/TLR)

[cointopper]

Hello SIBCoin believers,

Our aim is to add value to the whole crypto community by giving the best user experience to analyse cryptocurrencies.

It would be really great help from your side if you can spend 60 seconds of your time and give us your valuable feedback for our two recent updates 1) Snapshot and 2) Colourful interface of SIBCoin at: https://cointopper.com/coin/siberian

Constructive criticisms are always welcome at CoinTopper.  Thank you!!

[Gabriellla]

I hope you do realize this was a bit of a d*ck move, first you announce that there are some huge news coming up and then the next day you basically say that all the new stuff comes more than a month later from now. You knew it would pump, people lost money, people made money but overall this wasn't really necessary. Maybe you and your friends made a fair amount of Bitcoin out of this.

[dvd14986]

Hello @all.
Some time ago i start a masternode of this coin that i discover past year.
I believe in the project but from two months it isn't profitable for GPU mining and the value of the coin decrease continously.

What dev think to do regarding ASIC question?
Fork or not?

I see a lot of interesting feature in this con, but not a lot of activity here.

Other channel to stay update?

[kratoz]

does SIB has discord server? if anyone has it, post link here please!

[CipherUno]

There are no Discord groups, telegram only. But you wont find much people there, because thay wont pay attention to users. They are hard "working" on dont giving a fak about people asking q.

They preparing a new website, new logo, p2p ex, colorsib, but at the end, noone will listen to them, so no moves.

[ivanR]

Hi, Everybody!

We consider to increase collateral for one masternode from 1000 SIB to one of these options: 2000 SIB, 3000 SIB or 4000 SIB. We have two reasons for that. First one is that with current price real profitability from one node is very low, about zero. Increasing collateral won't increase nominal profitability which is about 6% now, but at least it will allow to reduce costs for people who have several nodes. Of course we understand than people who have one or two nodes won't be happy. Second reason is because of first dex release which will come soon and requirements for one one will increase about 50% (CPU, RAM, etc.)

But of course before do such move we want to put it on a vote. So, if you're masternode owner and you support increasing of collateral, please use on of these options

If you support increasing to 2000 SIB, please vote:

gobject vote-many 97f9c16a7267513531f5830656df1ef700653e6e6f7c1e05086682c26a67f376 funding yes

If you support increasing to 3000 SIB, please vote:

gobject vote-many 76ad1253039a7375b44cc4d6dab0a9054a05bf285463c25dcd25da1bef02a176 funding yes

If you support increasing to 4000 SIB, please vote:

gobject vote-many 7233933bfc32c36af7c8819e6c7da0ae1046b8a4335a3a2445df48a8683a4688 funding yes


If you don't support increasing collateral and believe it should stay 1000 SIB, please vote:

gobject vote-many f9c6716fe87e648450b41d4e4c88194532426245ee298511d6612073314d6a02 funding yes

[ivanR]

does SIB has discord server? if anyone has it, post link here please!

Please join us at sibcoin.slack.com:

https://join.slack.com/t/sibcoin/shared_invite/enQtMzg3NjY5MjI3MzMwLWMwN2NkYzEyZTliZWNjZGM3NjI2ODk2NGE4ZWI4NTJkNWViYmIxZWUwZDFhZWZjYmI4OGI5ZDE1YzUzMDE1MWU

[ivanR]

Hello @all.
Some time ago i start a masternode of this coin that i discover past year.
I believe in the project but from two months it isn't profitable for GPU mining and the value of the coin decrease continously.

What dev think to do regarding ASIC question?
Fork or not?

I see a lot of interesting feature in this con, but not a lot of activity here.

Other channel to stay update?

I consider Fork, but masternode owners voted against it:

https://sibcontrol.org/proposals/change-pow-algo

But it was some time ago, so I want to put this question on a vote again next month.

[ivanR]

So, we have:

93 votes for increase collateral to 2000
228 votes for increase collateral to 3000
5549 votes for increase collateral up to 4000

So, 5,870 masternodes out of 7,700 voted for the increase of the collateral payment, i.e. 76.23% of all masternodes.  And out of them 94.5% or 72% of all masterndoes voted for the increase to 4000 SIB, which means that the decision is made.

I consider it will take one or two days for the technical preparation of the update and after that the update procedure will begin. It will take about a week, depending on how quickly all services and miners will update their nodes.

[ivanR]

Attention!

The network was attacked with 51% attack by an owner of a large number of ASICs (more than 100). In this regard, we strongly recommend that all services that accept sibcoin payments temporarily limit payment acceptance, at least for large amounts.

Regular users are advised to temporarily refrain from conducting large transactions, we take action. More information will be given later.

[ivanR]

More information about the attack

Based on the history of transactions in our blockchain and information from exchanges, we found out that, on 10th July, the attacker first purchased several thousand sibcoins, and then several times carried out an attack on the Livecoin exchange, increasing his amount several times. He did not sell "received" sibcoins, but withdrew from Livecoin exchange. Next day he took it all out and tried to get them on Bittrex, but decided to attack them too. Bittrex promptly detected an attempted attack and stopped input and output and trades. Their funds were not affected.

We are negotiating with Bittrex and Livecoin about the situation and the continuation of further work.

At the moment, repetition of the attack is possible, so you need to be careful when receiving large and medium amounts of sibcoins.

Our analysis shows that this applies not only to Sibcoin, but also to many other currencies with the Proof of Work algorithm. The rapid growth of the market in 2017 led to an unprecedented growth of mining capacities, and the fall of the market this year inspired the temptation to use these facilities not for mining, but for attacks on medium and small currencies.


What We Are Doing About It

We did not immediately give this update, as promised, since my original idea, which was born right after the attack, about the transition of the currency to Proof of Stake provoked heated discussions in the community and did not receive unambiguous support. There was also an idea to change the hashing algorithm of PoW, as an option of a quick but temporary solution to get rid of the ill-wishers with ASICs. However, the analysis of the situation shows that this is not a solution against 51% attack, because even with moving to GPU mining, the cost of the attack will be still low compared to the possible gain of an attacker.

Therefore, as a long-term solution, we see the transition to the hybrid model Proof of Stake / Proof of Work algorithm.

I will explain why this option seems to be the most optimal. Proof of Stake implies that only coin owners can mine. To carry out an attack of 51% in such model, attacker must first buy or get a lot of coins, which can be quite expensive. While with Proof of Work attacker can rent equipment for a couple of hours, which is now very inexpensive because of the low profitability of all mining. If someone has a lot of coins, then by attacking network with 51% attack he hits his own capital and it will cost him much more compared to renting mining capacity for a couple of hours.

However, pure PoS also has a number of disadvantages. Technically, it is more complex, which carries additional risks for the stability of the system. Economically, it leads to the effect of "the rich become even richer", which is not very good either.

The hybrid PoS / PoW algorithm will require both a large number of coins and a significant mining capacity to carry 51% attack. It is quite expensive economically and more difficult to implement technically. At the same time, ordinary users will still have the opportunity to mine sibcoins.

This solution, however, will take time to implement. Therefore, as a temporary solution, we will issue an update, which will require the nodes not to accept blocks whose height is more than 1-2 hours in the past.


Recommendations

Until this update is released, the threat still remains. We ask the services that accepting Sibcoin to follow these recommendations:

1. Don't accept large amounts from new or unknown users / customers.

If a new / unknown user has decided to deposit several thousands of sibcoins or more to your service, you either need to pay them back to him, or wait for a significant number of confirmations, 100-200 for example. Moreover, it is better not to announce required number of confirmations in advance, so the attacker won't know how long it will be necessary to wait, 1-2 hours or 24 hours. Also, if you decide to accept payment, it is worth checking how many transactions and how many sibcoins in the block with the incoming transaction and in neighboring blocks. Now number of payments is low on the network, so the block with the incoming transaction, in which there are other transaction(s) for thousands or tens of thousands of sibcoins, should alert you.

2. Check for forks in the network.

This can be done using the getchaintips command or the corresponding rpc method. Forks in 1-2 blocks periodically occur, this is normal, but the appearance of a long chain should immediately alert you. Another option is to subscribe your software for zmq notifications about new blocks and to sound an alarm if suddenly you get a new block which has much lower height than the current one. If a fork is detected, it is better to temporarily suspend operations, since your service can be a victim of an attack.

These recommendations do not give 100% protection, however following them reduces your risks of becoming a victim of an attack.

[truxton]

Sibcoin is now ready for cross-chain dapps with the Blocknet Protocol!



Now that SIB is compatible with the Blocknet Protocol, it can be used in cross-blockchain dapps and traded on beta Block DX!

You can read more about Blocknet, the Blocknet Protocol, and Block DX here:

https://blocknet.co

https://sites.google.com/view/blocknet/directory

To get started with trading on Block DX, follow this setup guide: https://docs.google.com/document/d/1ciwLFSXwv6CXd3QEvVW88lHXo9CSIlweYOoSbDHkies/preview

The setup is in the process of being automated/abstracted so it's much easier and streamlined to use for beginners. In addition to that, in July we are planning to release SPV support which will allow for the creation of litewallets so whole blockchains will not need to be downloaded

[Hamukione]

Sibcoin has now been added to the prelisting vote on https://sonox.io Exchange platform.
The top 3 coins will receive a contribution in SONO.
You can vote on 3 different coins every day. (No registration needed)
So remember to come back tomorrow and vote on your project!

Sonox.io is launching officially on the 28th of August.

[crackfoo]

many chain forks here in the past couple weeks.

Any idea if you will address this with an updated client?

Thanks

[cryptofarmer]

many chain forks here in the past couple weeks.

Any idea if you will address this with an updated client?

Thanks

Wondered the same,
We can see at least 10 different chains atm

[pressing207]

https://www.forbescrypto.com