[ANN] official NovaCoin thread - the original PoS+scrypt coin.

[satriani]

ok thanks,
but i still think that we need a few FAQ about the most important thing like:
...
5. where we can follow the charts

Here:
http://www.cryptocoincharts.info/period-charts.php?period=alltime&resolution=day&pair=nvc-btc&market=btc-e

well.. i know this.. but potencial investors dont.

why apple earn so much money - becouse of simplify everything in their stuff. As i said - a few weeks ago my friend had interested about alt-cryptocoin, but after 2days he scared about so much scam and so much complex and detail in this subject that he let it go. we need to educate people how everything is work.

sorry - my english is not very well.

[1715282557]

1715282557

[pmconrad]

can i send 1 NVC to my wallet and get POS after one month ?

Takes a little longer but works:

http://nvc.cryptocoinexplorer.com/block/d570c5334b23fb5d70e78622182a1bb9dc0720e086744ccf28a12d3f86d5d726
http://nvc.cryptocoinexplorer.com/block/b02bea730727e84af3b74001812be59f9729fc5124622b97d50b28927eb9be75

[Bitinvestor]

ok thanks,
but i still think that we need a few FAQ about the most important thing like:
...
5. where we can follow the charts

Here:
http://www.cryptocoincharts.info/period-charts.php?period=alltime&resolution=day&pair=nvc-btc&market=btc-e

well.. i know this.. but potencial investors dont.

why apple earn so much money - becouse of simplify everything in their stuff. As i said - a few weeks ago my friend had interested about alt-cryptocoin, but after 2days he scared about so much scam and so much complex and detail in this subject that he let it go. we need to educate people how everything is work.

sorry - my english is not very well.

There is a FAQ here:
https://github.com/CryptoManiac/novacoin/wiki/FAQ

I agree that it should be updated to answer some more questions.

[Balthazar]

Well... I'll add some answers soon.

no one answered me the question if there is a minimum amount for POS.

can i send 1 NVC to my wallet and get POS after one month ?

There is no minimum or maximum input limit.

[Bitinvestor]

I recently found out about Coin Control and I think it's awesome:

https://bitcointalk.org/index.php?topic=144331.0

Is there any chance that you could implement it in Novacoin?

[True___Blue]

How do I set up POS mining?

[Balthazar]

Is there any chance that you could implement it in Novacoin?

Yes, it was planned for 0.4.5.

How do I set up POS mining?

You shouldn't do any thing to "set up" PoS mining, because it works by default and there is no option to disable it. Except for encryption of wallet or reservebalance option in the config file.

[meeh]

MinWG64 adapted branch published:

https://github.com/CryptoManiac/novacoin/commits/novacoin-win64

There are some OutputDebugStringF related warnings yet, will deal with it later.

P.S. Thinking about the ZeroCoin integration.  

That's cool. We are too. But are you aware of the technical issues here? If you wish a "anonymizer" in your chainblock. Wee're working on another "anonymizer" implementation as well. This will not require changes to the chainblock, but would require all users to download a updated wallet. If you would like to discuss it more please PM me.


DigitalHermit did a great job highlighting the biggest flaw with the implementations yet.

FYI:

how far is your zerocoin implementation?

Was just coming here to ask the same thing. Any updates?

It's still in an early stage. The first part will be implementing the early alpha of Zerocoin into the Anoncoin testnet, then comes the testing to discover bugs within Zerocoin itself that the Zerocoin devs will be working on. I would not expect a fully working zerocoin implementation until the end of the year at best. If it works flawlessly the first time around (personally I believe there's a ~1% chance of that happening) it would probably be complete during november.

Are you integrating the Zerocoin v1 library as is or do you have plans to deal with the two major flaws in Zerocoin first, before releasing it for use against the "production" AnonCoin blockchain?

Flaw #1: Zerocoin v1 is highly inefficient (not production ready).

https://github.com/Zerocoin/libzerocoin/wiki/Frequently-asked-questions

The current implementation of Zerocoin has two efficiency problems. First, the 'coin spend' zero knowledge proofs are somewhat large (>25 KB). We intend for these proofs to reside in the block chain, but their large size makes this challenging. As a result it may be necessary to distribute them via some other mechanism such as a Distributed Hash Table.

Additionally, Zerocoin spend proofs are somewhat time consuming to verify, at least as compared to ECDSA signatures (they take a larger fraction of a second). This creates problems with latency when all nodes verify them, though we are hopeful that there are engineering solutions to this problem.

We are currently working on improvements to the Zerocoin cryptography that we hope will bring smaller and faster proofs. At this point we will release a 'Zerocoin v2' protocol and users will have to decide if they want to deploy this protocol in their networks.

Flaw #2: Zerocoin as currently implemented requires configuration with a trusted non-secret integer of 1,026 bits in length generated by multiplying together two factors p and q. That means you need a "trusted party" to configure Zerocoin; more importantly, if this trusted party decides to hold on to the p and q factors they used (rather than destroying them) or shares them with anybody, then they will be able to double spend any zerocoins. This is a fatal flaw if we wish Zerocoin to operate in a zero-trust manner.

https://github.com/Zerocoin/libzerocoin/wiki/Generating-Zerocoin-parameters

Security Warning: It is critical that the modulus N be generated properly and that the factors p, q and all related information be destroyed. These factors are not needed in the protocol. Moreover, any party who learns these factors will be able to double-spend zerocoins. Note however that knowledge of p, q does not jeopardize the anonymity of Zerocoin.

...

A second project (not currently planned) is to implement distributed multiparty generation of the modulus N. Some protocols exist in the literature to do this. We are not aware of any that have been implemented.

If you plan on integrating Zerocoin as is, that's fine. I just hope you realize that by doing so you'll be turning the AnonCoin blockchain into more of a test/research blockchain that may not scale well (due to Flaw 1) and can't be fully trusted (due to Flaw 2).

[captainfuture]

Hey!

I really believe in NVC and try to get our mining pool at coinEX running.
We have found 5 blocks already, but we still need more hash. We would be glad if someone could join us and help us.
I have all my rigs pointed to this pool for the next months, so together we can do it 

https://coinex.pw/mining/pools/NVC

I will pay the next 5 blockfinders an extra nvc 

[Balthazar]

meeh

Flaw #1: Zerocoin v1 is highly inefficient (not production ready).

That's correct, ZeroCoin isn't ready for production yet. That's why it will be available for the testnet only.

Flaw #2: Zerocoin as currently implemented requires configuration with a trusted non-secret integer of 1,026 bits in length generated by multiplying together two factors p and q. That means you need a "trusted party" to configure Zerocoin; more importantly, if this trusted party decides to hold on to the p and q factors they used (rather than destroying them) or shares them with anybody, then they will be able to double spend any zerocoins. This is a fatal flaw if we wish Zerocoin to operate in a zero-trust manner.

It's not a serious problem for the real-life scenario. Nobody will hold such information, it's too risky for health. Especially if you are a public person, like me. Destroying is a preferred solution, in terms of safety. There is no thing which could be used to pay for p and q holding related risks.

This will not require changes to the chainblock, but would require all users to download a updated wallet. If you would like to discuss it more please PM me.

It seems interesting. I'll send PM later.

[meeh]

Flaw #1: Zerocoin v1 is highly inefficient (not production ready).

That's correct, ZeroCoin isn't ready for production yet. That's why it will be available for the testnet only.

Ok  And you're aware of that the 'coin spend' zero knowledge proofs are somewhat large (>25 KB). That means it's too large for the block chain itself, and the client must have a DHT network or something in that area as well for distributing those. Have you found any good libraries? 

I'm on the hunt myself!

[Balthazar]

Ok   And you're aware of that the 'coin spend' zero knowledge proofs are somewhat large (>25 KB). That means it's too large for the block chain itself, and the client must have a DHT network or something in that area as well for distributing those. Have you found any good libraries?  

DHT usage is too risky option, because it adds a point of failure into the system.

In my tests resulting proof sizes vary from 23 to 26kb. This could be handled by using the following approach:

1) Introduce the 520 blocks maturity window for coinspend transactions;
2) Include ZeroCoin transactions into Proof-of-Work blocks only;
3) Implement spent outpoints removal option (similar to "Ultraprune" branch, which merged into bitcoin 0.8.x);
3) Use gzip/bzip2/lzma/whatever in-memory binary compression in combination with standard 0.01/1kb fee.

[meeh]

Ok   And you're aware of that the 'coin spend' zero knowledge proofs are somewhat large (>25 KB). That means it's too large for the block chain itself, and the client must have a DHT network or something in that area as well for distributing those. Have you found any good libraries?  

DHT usage is too risky option, because it adds a point of failure into the system.

In my tests resulting proof sizes vary from 23 to 26kb. This could be handled by using the following approach:

1) Introduce the 520 blocks maturity window for coinspend transactions;
2) Include ZeroCoin transactions into Proof-of-Work blocks only;
3) Implement spent outpoints removal option (similar to "Ultraprune" branch, which merged into bitcoin 0.;
3) Use gzip/bzip2/lzma/whatever in-memory binary compression in combination with standard 0.01/1kb fee.

Good point! Thanks, I will check it out  

But we still got a problem since the zerocoin library isn't a fully implementation of the zerocoin extension AFAIK.

[Balthazar]

But we still got a problem since the zerocoin library isn't a fully implementation of the zerocoin extension AFAIK.

Yes, but available functionality is enough for transactions validation. There are only a few issues with accumulatorblockhash/transactionhash, which implemented in the constructors, but actually not used by the library.

[Balthazar]

New p2pool release is planned for this weekend. It will start an independent shares chain due to some incompatible changes.

• Fee for coinbase isn't required since 20 Sep 2013, so this code will be removed;
• ECDSA signature isn't required for PoW blocks since 20 Sep 2013. This allows us to remove a few serious limitations, such as requirements for public node fee and wallet unlocking;
• -a option support, wallet address as worker name support;
• No truncation for rewards lower than 0.01 coin;
• 15s shares target spacing.

[Jude Austin]

New p2pool release is planned for this weekend. It will start an independent shares chain due to some incompatible changes.

• Fee for coinbase isn't required since 20 Sep 2013, so this code will be removed;
• ECDSA signature isn't required for PoW blocks since 20 Sep 2013. This allows us to remove a few serious limitations, such as requirements for public node fee and wallet unlocking;
• -a option support, wallet address as worker name support;
• No truncation for rewards lower than 0.01 coin;
• 15s shares target spacing.

Can't wait.

Keep up the good work.

[Balthazar]

I recently found out about Coin Control and I think it's awesome:

https://bitcointalk.org/index.php?topic=144331.0

Is there any chance that you could implement it in Novacoin?

Merged into 0.4.4.5, testing build for win32 is available:

http://sourceforge.net/projects/novacoin/files/novacoin-0.4.4.5-nosetup-win32.zip/download

[satriani]

when we can see some logo/banner ?

[xorxor]

is it normal to wait 6hours after 30days, input over 1k coins to POS reward? still dont get anything..

After 30 days you have A LOT of coindays, but still no stake power, it just started building up. With 1k coins input it shouldn't be to long.
Run your client after few days, unlock the wallet, and you should get a block quite quickly.

[captainfuture]

we want to get our NVC-Pool running with more hash. So please join and get an extra NVC for finding a block!

https://coinex.pw/mining/pools/NVC

i am mining for weeks there and have 99,5% accepted.