MC2: A cryptocurrency based on a hybrid PoW/PoS system

[Y3llowb1ackbird]

I just read the MC2 whitepaper. I am very impressed. I will be following this with great interest.

[tobeaj2mer01]

Hope there will be an IPO for this coin.

[lynn_402]

Hope there will be an IPO for this coin.

It's 100% minable, which is the main reason why it isn't a scam.

[beitris.dwlul]

The concept looks good but let's see how it will be in practice.

[adept]

I wonder if tacotime will bother now that there is so much do to with XMR!

[_ingsoc]

I wonder if tacotime will bother now that there is so much do to with XMR!

He's been working on it almost every day. Things are looking better for MC2 than ever before. Have faith, oh, ye of little faith!

[statdude]

I wonder if tacotime will bother now that there is so much do to with XMR!

He's been working on it almost every day. Things are looking better for MC2 than ever before. Have faith, oh, ye of little faith!

Whoa, where'd you hear that?

[tacotime]

I wonder if tacotime will bother now that there is so much do to with XMR!

MC2 is most of what I do.

[CoinHoarder]

I wonder if tacotime will bother now that there is so much do to with XMR!

MC2 is most of what I do.

Glad to hear that. I am excited about this. 

[statdude]

Says on page one it will be Scrypt based. Will this be a standard algo, or some variant?

Important to me as I can only rent hash.

[adept]

When can we expect this to go out?

[tacotime]

When can we expect this to go out?

There should hopefully be a closed source testnet in the next month or two that people can muck around with.

[canth]

When can we expect this to go out?

There should hopefully be a closed source testnet in the next month or two that people can muck around with.

Excellent. I'm sure you'll get plenty of testers - looking forward to participating. What environment do you envision supporting first? Linux/Windows? Or just Linux first?

[tacotime]

When can we expect this to go out?

There should hopefully be a closed source testnet in the next month or two that people can muck around with.

Excellent. I'm sure you'll get plenty of testers - looking forward to participating. What environment do you envision supporting first? Linux/Windows? Or just Linux first?

It should build pretty much anywhere as it's written in Golang. Initial daemon/wallet will be command line.

[David Latapie]

It should build pretty much anywhere as it's written in Golang. Initial daemon/wallet will be command line.

Golang crypto? Yam yam.

[pa]

The main advances over BTC in MC2 are 51% attack-resistance, less blockchain bloat, and a democratic system of altering certain parameters; is that correct?

The democratic aspect worries me a bit. I'm not so impressed with the results of democracy in the real world, where it appears that democracies are susceptible to hijacking by wealthy factions, who then alter the laws to favor themselves. Eventually these factions make themselves into oligarchs. Isn't it better to have a philosopher-king dev who is committed and incentivized to "do the right thing" vis a vis the coin?

[tacotime]

The main advances over BTC in MC2 are 51% attack-resistance, less blockchain bloat, and a democratic system of altering certain parameters; is that correct?

The democratic aspect worries me a bit. I'm not so impressed with the results of democracy in the real world, where it appears that democracies are susceptible to hijacking by wealthy factions, who then alter the laws to favor themselves. Eventually these factions make themselves into oligarchs. Isn't it better to have a philosopher-king dev who is committed and incentivized to "do the right thing" vis a vis the coin?

Voting by stakeholder for anything aside from voting on PoW will be unspecified from my prototype, I'm just laying the groundwork for the voting.

Update:
- Core consensus code for the PoW/PoS completed but virtually untested
- Auxiliary database code completed
- Supporting RPC calls at about 50% complete
- Simulation network for testing about 50% complete
- Test coverage approx. 15-20%
- New difficulty algorithm for PoS system

Will be moving onto simulation network testing this month, progress is more or less on time.

[tobeaj2mer01]

When can we buy or mine this coin, is there an ICO/IPO?

[presstab]

hmmm i am thoroughly interested in the technology this coin will employ.

[tacotime]

Code:

2014/11/02 18:22:11 Spent/Missed Ticket Ntfns ----------------------------
2014/11/02 18:22:11 Spent for missed tickets for block Hash: 209928e582553c958dd11305b3a8a77f00a25d8283bbdd66edf2153ffbac856b, Height: 756
2014/11/02 18:22:11 Spent or missed tickets: 
2014/11/02 18:22:11 Ticket hash: f2ac1d8268bd571e95fbbefa4f7f938c9dbab3dccf8a7a9b98f8be6f5f8d85ab Ticket status: Spent
2014/11/02 18:22:11 Ticket hash: 5f18b61ee9f048751b7b24c67ed67649a0e31d17e2a7cd556c37d85e007e490c Ticket status: Spent
2014/11/02 18:22:11 Ticket hash: 704c764d72f44e578b30878b4a5acecbb618a04739058b0a3230b7f0c1f66ea1 Ticket status: Spent
2014/11/02 18:22:11 Ticket hash: aaac41a106a22f1aabc340515f5aa872bf88c86c4d2ccc5a9fcefec7d6115814 Ticket status: Spent
2014/11/02 18:22:11 Ticket hash: caf80942bb9d29fc307950d1490e5b55d19979383754c9e8c5d0a4fdcc089cea Ticket status: Spent
2014/11/02 18:22:11 End Spent/Missed Ticket Ntfns ------------------------
2014/11/02 18:22:11 New Ticket Ntfns -------------------------------------
2014/11/02 18:22:11 New tickets for block Hash: 209928e582553c958dd11305b3a8a77f00a25d8283bbdd66edf2153ffbac856b, Height: 756
2014/11/02 18:22:11 New tickets: 
2014/11/02 18:22:11 Ticket hash: 4e2de8bbd8b2e77400f973aaf50bc4f31153410605d99d20d3f4d2c8c97efa03 Ticket number: 15
2014/11/02 18:22:11 Ticket hash: 8303375227da584351ac5831ca8cb59e9f1b138884a8a104af231417fcd650b0 Ticket number: 28
2014/11/02 18:22:11 Ticket hash: ee3e853c33a2be97eb15c18ca2a3203ffee2c19de8b02566b66cbc72608f69c8 Ticket number: 46
2014/11/02 18:22:11 Next block winner: 58, overflow 0
2014/11/02 18:22:11 Current active tickets in pool: 492
2014/11/02 18:22:11 End New Ticket Ntfns ---------------------------------
2014/11/02 18:22:11 Block connected: Hash: 209928e582553c958dd11305b3a8a77f00a25d8283bbdd66edf2153ffbac856b, Height: 756

Simulation network is operational and fairly well functioning, there are a number of issues that need to be fixed including a rather severe memory leak. Test coverage is still low.