[ANN][XEL] Elastic Project - The Decentralized Supercomputer

[Redawn]

I want to donate for some volunteer gift XEL.
How should I send btc?
Just send btc from my account to 3Q2aKEGFTKDw3hghsBifXp39CZVMtZukxn
And than what should I do next to acces the volunteer gift XEL?

Yeah, exactly. You would have to donate to that address and backup the private key for the address linked to the first input of your transaction. Then, you will have to wait until a light version or the full version goes live. Meanwhile, your XEL appear here ... visible to anyone: https://github.com/elastic-project/genesis-block/blob/master/genesis-block.json (scroll to the bottom)

Ok clear, and no it wasn't me who send that 0.01 btc.
So I must be sure to have the private key from one of my btc address.

[Evil-Knievel]

Ok clear, and no it wasn't me who send that 0.01 btc.
So I must be sure to have the private key from one of my btc address.

Ideally for all of your addresses, to make it easier. But it is sufficient to have the private key for the first input.

So if you take this transaction for example https://blockchain.info/de/tx/035a55772c56230479826a357ed5f4e26121cbd8f8db68e006795749947851fc
then you would need the private key to the address 1BDt2KN7GcBAvzKgTLUDTogg1zZiWKmhaW because it appears first.

I have no idea who coded that donation engine (it wasn't me, I just code the wallet and backend), but that's just the way it is Don't blame it for me. But even if it's a bit trickier, its still possible to handle that. You are definitely on the safe side if you keep a full backup of your wallet.

[xxxgoodgirls]

Hey EK are you in touch with Lannister on a daily basis? I tried to reach him through bitmessage with no luck, I found a buyer of my donation.
Between did he change the publickey when you bought a donation from a user?

[Evil-Knievel]

Hey EK are you in touch with Lannister on a daily basis? I tried to reach him through bitmessage with no luck, I found a buyer of my donation.
Between did he change the publickey when you bought a donation from a user?

When I contacted him the first time I was waiting for days until the keys were exchanged. Not sure what the problem was, but I am sure he reads this thread here frequently ... at least he is online at the moment. I am sure, now that he knows you try to reach him, it will work out quickly. Btw, sad to hear that you sold your donation and yet congratulations. I just hope you stick around with us   It was always a pleasure discussing with you.

[xxxgoodgirls]

Hey EK are you in touch with Lannister on a daily basis? I tried to reach him through bitmessage with no luck, I found a buyer of my donation.
Between did he change the publickey when you bought a donation from a user?

When I contacted him the first time I was waiting for days until the keys were exchanged. Not sure what the problem was, but I am sure he reads this thread here frequently ... at least he is online at the moment. I am sure, now that he knows you try to reach him, it will work out quickly. Btw, sad to hear that you sold your donation and yet congratulations. I just hope you stick around with us   It was always a pleasure discussing with you.

I made 3 different donations,  but I am just selling only one of them! Not leaving sir

[CryptoWitch]

Invested some btc in this project, will invest more near the end of the ico

[bitbitch]

after the donation phase ends where will that amount of money be able to take this project?

will further funding be required later?

[beaver6]

It takes really a long time to sync my BTC local wallet,I'll donate some btc to XEL project.

[Evil-Knievel]

after the donation phase ends where will that amount of money be able to take this project?

will further funding be required later?

Not sure, but at least I will always work for free here ;-) I think that this will be just fine, there are many people contributing to open source projects in their spare time.

[Redawn]

Ok, the project is clear. But can someone post or direct me to some examples how Elastic can contribute to something great. Is it possible to use Elastic for processing big data? Or use it for machine learning? Can you use it to mine coins?

[Evil-Knievel]

Ok, the project is clear. But someone post or direct me to some examples how Elastic can contribute to something great. Is it possible to use Elastic for processing big data? Or use it for machine learning? Can you use it to mine coins?

There is always room for improvement and for creating new features, but for now I don't think that Big Data is an option. This would bloat the blockchain a lot. Unlike Foldingcoin or something, Elastic is entirely decentralized which means that everyone would need to sync this "big data" to verify that the claimed proof-of-work results on it are valid. This does not scale very well: imagine you have to broadcast a 5 GiG database to everyone so people can verify the proof-of-work.

Foldingcoin can of course do this big data stuff, but the price you pay is that you rely on a central authority checking on the SETI project stats and manually crediting you your reward. This also means ... SETI gone, coin gone. We all agree that we do not want to do that here.

So at the moment I would say that Elastic is suited for "brute forcing" computationally infeasible tasks. The input data is just the program itself and some small (yes, 256bit is impossible to brute force but very small to store) input. This can be used to perform some optimization (Genetic Algorithms, Random Walk, ...) or merge mine another coin.

This is just the first step, this does not mean that some bright heads do not figure out a way to extend that set of possible use cases.

What I would also love, since we have a "cloud computing coin" to embed distributed storage at some later point. But that it future work ;-) Lets focus on this one first.

[xxxgoodgirls]

Weird, I get a random error with no text on electrum when I try to sign a message, any hint?

[xxxgoodgirls]

Another weird thing, when I run the command getpublickey of the address which I donated from I get 3 different public keys, but no one of them fits with the "owner_pubkey" of the donation I made. How's that?

[BigBoom3599]

Weird, I get a random error with no text on electrum when I try to sign a message, any hint?

Well, what are you doing and whats the error message? Are you sure you're not trying to verify a message?

[xxxgoodgirls]

Weird, I get a random error with no text on electrum when I try to sign a message, any hint?

Well, what are you doing and whats the error message? Are you sure you're not trying to verify a message?

I just write the message, put the address and press Sign.  
The error has no message as well, just a blank one. Tried both on linux and windows.

[Evil-Knievel]

xxxgoodgirls,

I think I have a solution that would allow us to roll out a lite version of the coin while new donations may still create new XEL.
We go with 4 genesis blocks instead of just one.

The first one is created from the genesis block that we have in Lannisters git repository right now while the remaining three remain empty.
In two subsequent versions, we will then (one at a time) fill up the genesis block by all newly added XELs that are not yet included in any other genesis block.
In the last lite version there will be a distribution of all remaining XELs.

The lite wallet will then remain working until the full wallet goes online with all its features. Of course, after it has been tested excessively and running stable for a while.

I think we could do this pretty quickly because all basic functions (sending / receiving, messaging, ...) are working fine.
All I have to do is finish the part about the "Bitcoin public keys". I am supporting SECP256k1 signatures alongside the Curve25519 ones, but I am still having a headache about the message encryption stuff. We would need a "inter-curve-Diffie-Hellman" but I try to find a better solution here.

If the community has nothing to argue against that, I would make sure to burn some midnight oil and get this thing done as soon as possible.

In this case, I would need isarMatrose's server (and hopefully some more) as a reliable bootstrap node if that is possible.

[xxxgoodgirls]

What a volcano of ideas
I would say go ahead with a lite wallet, it would be really nice if users are allowed to utilize the basic functions before the full wallet goes online.

Between have you got any idea why the owner_pubkey of my donation does not match the actual public key of the address I sent the donation from? None of the public keys of my 3 different donations match. Does it appear as encrypted in the genesis block?

[BigBoom3599]

xxxgoodgirls,

I think I have a solution that would allow us to roll out a lite version of the coin while new donations may still create new XEL.
We go with 4 genesis blocks instead of just one.

The first one is created from the genesis block that we have in Lannisters git repository right now while the remaining three remain empty.
In two subsequent versions, we will then (one at a time) fill up the genesis block by all newly added XELs that are not yet included in any other genesis block.
In the last lite version there will be a distribution of all remaining XELs.

The lite wallet will then remain working until the full wallet goes online with all its features. Of course, after it has been tested excessively and running stable for a while.

I think we could do this pretty quickly because all basic functions (sending / receiving, messaging, ...) are working fine.
All I have to do is finish the part about the "Bitcoin public keys". I am supporting SECP256k1 signatures alongside the Curve25519 ones, but I am still having a headache about the message encryption stuff. We would need a "inter-curve-Diffie-Hellman" but I try to find a better solution here.

If the community has nothing to argue against that, I would make sure to burn some midnight oil and get this thing done as soon as possible.

In this case, I would need isarMatrose's server (and hopefully some more) as a reliable bootstrap node if that is possible.

I can always put up a simple node if you need one, how will the lite version verify blocks? Pos? PoW? Block reward? Or just tx fees?

[Evil-Knievel]

What a volcano of ideas
I would say go ahead with a lite wallet, it would be really nice if users are allowed to utilize the basic functions before the full wallet goes online.

Between have you got any idea why the owner_pubkey of my donation does not match the actual public key of the address I sent the donation from? None of the public keys of my 3 different donations match. Does it appear as encrypted in the genesis block?

If you could share your txid with us, we could take a look ;-)

[bspus]

The only problem I see (if it even is a problem) is that soon after the basic wallet is released and people get their XEL they will start pushing for an exchange.

If it is added to an exchange it will probably get dumped on. For some reason I cannot understand there are always people willing to dump even at a loss.
Then it will become a vehicle for speculation like all other basic altcoin clones.

I'm not sure what effect it will have on its reputation. It might not even matter after the full featured platform is released. Just be aware of the possibility.

Are you planning on adding it to an exchange before the full platform is released?