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Question: Which blockchain should Jackpot coin be relaunched with ?
NEW Blockchain from BLOCK 1 - 43 (66.2%)
OLD Blockchain from a certain block height - 6 (9.2%)
NEW Blockchain from BLOCK 1 with old Coinswap - 16 (24.6%)
Total Voters: 65

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Author Topic: [PRE-ANN][JPC] JackpotCoin is getting relaunched [PLEASE VOTE]  (Read 3320 times)
adaseb
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January 29, 2017, 07:42:07 AM
 #1



Please Vote

A few of us are thinking of relaunching JACKPOTCOIN. We already consulted with the original developer and we're given permission for a relaunch.

If you were around in 2014 you remember how successful JackpotCoin was during the Spring/Summer of 2014. At one point it was one of the most popular coins out there. It was popular due to its various wallets available for Linux, Windows, Mac, and even Rasp Pi. It was very CPU and GPU friendly. It supported both AMD and Nvidia GPUs. Was completely ASIC-Resistant and had a large variety of exchanges and pools.

However unfortunately the old chain seems broken. A few of us are trying to sync and we are getting stuck. I propose that we start fresh at block 1 using the current setup as in 2014. However it might not be fair for some of the old coin holders so I made a poll for the community decide what they want to do.

Please vote for either:

1) Brand New Blockchain from BLOCK 1: We will create a new genesis block from block 0 and continue on with the brand new chain. All the old coins will be COMPLETELY lost.

2) Use Old Blockchain from a certain block height: We will rollback the blockchain to a certain height and continue on the chain from there. This will have already a few billions of coins in supply and might have issues getting listed on exchanges and the miner reward will be lower because the coin reward halves every few weeks.

3) New Blockchain from BLOCK 1 with old Coinswap: Start with a new genesis block from block 0 but have the option of having any old coins swapped for new coins. The formula for this is yet to be determined. Keep in mind this option might not be possible if the old chain is stuck somewhere. This option will have the miner reward start at 100,000 coins BUT the initial supply will be hard to predict because nobody knows how many are still holding on to the old coins, its after all been 3 years.








Old thread for reference: https://bitcointalk.org/index.php?topic=584481.0
INFO
Jackpotcoin (JPC) is an innovative and secure alternative to Bitcoin introducing the first independently hybrid PoW/PoS structure
with the efficient JHA hash algorithm and true random Superblocks. Jackpotcoin is the first cryptocurrency to seamlessly incorporate both features enabling lightning fast transaction speeds with an added constant layer of security for the network to combat any potential 51% attacks.

Implementing the separate PoW and PoS technologies was a feature unobtainable by the previous wave of PoW/PoS coins and allows the generation of PoS interest without affecting the PoW mining protocol because of the independent, alternating systems. Instead of stopping PoW after a few days and forking to full PoS, we’re able to maintain a shorter PoS block time to enable lightning fast transaction speed (under 5 seconds) by rapidly accelerating confirmation times without affecting the PoW blocks. In addition, the network has a constant layer of added security by modeling the coin in this manner.

Lastly, the randomized superblock payout (Jackpot) structure is unable to be exploited because the “winning” payout is confirmed by the following block. In effect, there is zero indication prior to awarding the payout which eliminates any potential discrepancies. (i.e. Multi-pools ability to select largest payouts)

SPECIFICATIONS
JackpotCoin
JPC

- PoW/PoS independent
- 3 transaction confirmations - average less than 1 min confirmation
- 70 minted block confirmations
- Total coins will be approximately 30 billions.

PoW:
- Jackpot Hash Algorithm (JHA - a variation of SHA-3 algorithm)
- Minable by both CPU and GPU, both CPU miner and GPU miner are provided
- 120 sec block target
- diff retarget each block
- Initial payout will be 100000 coins per block
- True random superblock
- Superblock payout (aka the jackpot) will starts at 10X normal block payout, and grows parabolically when the distance with last superblock increases. The average interval between superblocks will be 3.5 days. The payout starts at 10X normal payout, grows to 100X at 3.5 days, and then grows to 1000X at 7 days (if the superblock not triggered). After 7 days, the payout will stay at 1000X, but at the end of the 8th day if still no superblock is triggered by the random number, the system will gradually increase the chance for a superblock until a 1000x superblock is triggered.
- block payout will be reduced 10% each week (will be halved at approximately each 7 weeks).
- minimum payout for PoW will be 1 coin/block (will be reached after 2+ years)

PoS:
- 20 sec block target
- diff retarget each block
- PoS daily interest payout initially at 0.1% per day (equivalent to 44% annual interest rate), gradually dropping down to 0.01% per day (equivalent to 3.7% annual rate), the decrease will be over a period of 5 years (rate adjusted each 3 months). Then it will stay at this rate.
- minimum holding time before the pos will be generated: 1 day.
- max accumulated coin-day is 30 days (after 30 days, only the 30-day coin-day will be counted).

1% premine to cover development costs (website, server, development), code maintenance/enhancements, bounties, shops/games, faucets/giveaways etc.


FAQ
Q1. What is Jackpot Hashing Algorithm? And what’s the purpose of it?

A: JHA has designed using Random Hashing Method and Random Variable Hashing Round using SHA3, Blake, Grøstl, JH, Skein. and, Archive the highest Secure Level via the currently announced methods without increase the requirements such as electric or hardware cost.  and Permanently ASIC resist because of there are multi-level of anti-parallelism in instruction, sub module, even full rounds of hashing.
We using SHA3 512 Hashing for input round, and 0~7 extra random hashing rounds are followed. The length of round will be adjusted by time.

Reduce the hashing load but increase the security
JHA is using variable random hashing rounds, it will reduce the hashing power requirements to 1/2 compare the linear hashing method. but, Up to 16234 times higher security. And, The rounds will be increased by time via increasing of mining hardware to protect the old CPU and GPU miner.

Permanent ASIC resist without increase the hardware power usage.
To archive the large scale miner such as ASIC miner, JHA need the very high power host processor to increase the threads of compute unit in ASIC or the modern GPU. It will increase the mining hardware cost (not just chip level) and make impossible to use with coin.

Power saving for GPU.
Using heavy anti-parallelism, it using < 75% of ALU in the modern SIMD GPU. and, It force to work GPU in the lower power consumption mode.


Fair Mining Performance Distribution

CPU Mining (Intel i7-2600)  180k   (un-optimized CPU miner)
     > 320K (with optimized CPU miner, under developing)
AMD 6970M @    ~600k
AMD R9 280X    ~1000k


Q2. What is the true random? Why previous random superblocks are not true random?

A. Most previous coins that contain the random block payout are based on the algorithm first developed in LuckyCoin, the algorithm relies on the previous block hash to determine if the current block is a superblock, or to determine its payout, because the current block hash is not available at the time where payout is computed. This causes a problem: because previous hash can be seen by everyone, people will know if the next block will be a superblock or not. If it is, then those with big hashpower such as multipool can jump in and mine the next block, and jump out if the next block is not a superblock. This gives multipools and other cheaters a chance to get big block payouts (often the superblocks are 10x or even 100x the normal block payout).

The true random superblock was first developed in Grain (GRA). Where it enhanced the algorithm the LuckyCoin developed. It gives the superblock to the finder of the hash where it meets the superblock criteria. So the cheaters can no longer use the previous block hash to determine their lucks, as if the superblock is triggered based on the previous lucky hash, the superblock payout will go to the wallet address that receives the previous block. This is a 100% fair way to distribute the bonus superblock.

JackpotCoin enhanced the algorithm for true randomness, and added several improvements. Now it is used for the jackpot up to 1000x the normal payout. And good luck to everyone on the jackpot!


Q3. What is the jackpot? How does it work? Can you explain a little more?

A. Sure. The jackpot is the superblock payout. On average, there will be one jackpot per 3.5 days (thus 1/2520 chance). The longer the time to get a jackpot, the bigger will be the jackpot size. Jackpot size grows with the distance from the last jackpot. It starts with 10x the normal payout, grows to 100x the normal payout at 3.5 days, and if the superblock is not triggered it will grow to 1000x the normal payout at 7 days. The size will stay at 1000x after 7 days, and after 8 days the chances for getting a superblock will increase until a superblock hits.

Q4. How do I know what is the current jackpot size?
A. You can find out the current jackpot size in one of the 4 ways below:
 1. It is posted at OP of the JackpotCoin main thread:
https://bitcointalk.org/index.php?topic=584481.0
 2. You can find it also on our website:
  http://jackpotcoin.info/wp/#Jackpot
 3. You can check using the console in QT client. Open the console (Help->Debug Windows->Console), then type “getcurrentjackpot”.
 4. Use a damon (jackpotcoind) and “getcurrentjackpot” command. For example on windows: jackpotcoind.exe getcurrentjackpot.
5. Visit http://jackpotcoin.info/jackpotimg.php (Note that this is an image you can you anywhere with an IMG html tag)

Q5. Why PoW and PoS are independent in JackpotCoin? Can you give details about that?
Among the many original features Jackpotcoin provides, one important and original feature is the separation of PoW and PoS. All previous PoW/PoS coins share the same target block time for PoW and PoS. This causes a serious problem for the PoW. As we all know, the coin usually starts with PoW (since PoS based on the coins that need to be mined first). So when the PoS block kicks in, the normal PoW rhythm is broken, the block chain changes from PoW-PoW-PoW- to a mix of -PoW-PoS-PoS-PoW-PoS-PoW-PoS-PoS- etc.

Why this causes problem? well because the target block time is fixed (and are the same for both PoS and PoW). Because of this, the PoW can not keep the target block time. So the algorithm (from Peercoin/Novacoin) delays the PoW block target time (to up to 12X the normal target time). This often causes erratic diff oscillations and usually makes the PoW blocks difficult to mine (due to the huge increase of block time which causes the diff to increase big time). This is a common problem of PoW/PoS mixed coins.

Some recent coins tried to avoid this problem by making the coin transit from pure PoW to pure PoS, thus avoided the co-existence of PoW/PoS, so to avoid the above-mentioned problem. This wave of coins is led by MintCoin. Many copycat coins exist after MINT. Though intelligently avoided the problem, the MINT and its copycats (such as BC, ECC, etc) did not really handle the issue of PoW/PoS coexistence.

JackpotCoin is the first coin successfully handles the issue. By defining different target block times for PoW and PoS, and completely separation of the diff retargeting for them, Jackpotcoin separated the two mechanisms while keeping them in the same blockchain. This is a big advance of the PoW/PoS coin. For JackpotCoin, the PoW target block time is at 120 sec, while PoS at 20sec. The PoW block time matches perfectly the target block time, and the generation of PoS does no longer affect the PoW mining.

Another big advantage of this new and original feature, is that the transaction confirmations become zap fast. The transactions are mainly confirmed with PoS blocks, which is a lot faster than PoW blocks. Thus, without issuing more coins related to mining, the JackpotCoin's transaction is confirmed in less than a minutes on average. This makes the coin is a good candidate for real world spending coin.

Random Number Distribution for 6 days


For jackpot, at each pow we generate a random number from 1-25200, if the number is between 15001 and 15010 (inclusive), then the pow will hit the jackpot.
This is 10/25200 = 1/2520 chance, which corresponds to 1 in 3.5 days on average (720 x 3.5 = 2520)

Random Number with Jackpot Zone


The colored area is the jackpot zone, if the random number is inside this area, it triggers the Jackpot. As you can see, it hasn't happened so far (at the time of this writing). If nobody gets the prize, this zone will be expanded till somebody hits the jackpot.

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January 29, 2017, 07:44:36 AM
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January 29, 2017, 07:53:01 AM
 #3

   I already voted for NEW Blockchain from BLOCK 1 with old Coinswap. by the way when the launched date? Good luck guys.

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January 29, 2017, 07:54:05 AM
 #4

I do not hold jackpotcoin but i remember this coin being popular as you said, I would have vote for the first option so that previous owner's won't have an advantage over the new set of community, but it would be unfair to those people who spend effort and money just to mine or buy this coin from the exchange.  I would vote for the new blockchain and swap. Give the jackpotcoin  holder an amount of time to declare their holdings, let us say have  1 month for this and calculate the total and base your swap ratio on that.  Ignore people who failed to submit their holding during those time and move on. Harsh but setting rule will make the job easier.

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January 29, 2017, 07:55:37 AM
 #5

2 or 3
and may be change POW algo to prevent asics ?
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January 29, 2017, 07:58:10 AM
 #6

2
bit of a waste, losing the old coins
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January 29, 2017, 08:07:50 AM
 #7

meaning, if later it will be mined again with blockhain new?
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January 29, 2017, 08:16:33 AM
 #8

  I already voted for NEW Blockchain from BLOCK 1 with old Coinswap. by the way when the launched date? Good luck guys.

The launch date varies by which option people are voting for. Obviously the quickest launch would be starting from scratch from Block 0. Either way I am trying to get the coin relaunched as soon as possible.

I do not hold jackpotcoin but i remember this coin being popular as you said, I would have vote for the first option so that previous owner's won't have an advantage over the new set of community, but it would be unfair to those people who spend effort and money just to mine or buy this coin from the exchange.  I would vote for the new blockchain and swap. Give the jackpotcoin  holder an amount of time to declare their holdings, let us say have  1 month for this and calculate the total and base your swap ratio on that.  Ignore people who failed to submit their holding during those time and move on. Harsh but setting rule will make the job easier.

Yes this is a good idea. However we might run into issues with this option if we can't get the old chain to sync fully. Since we won't know who is the last holder of which coins.

2 or 3
and may be change POW algo to prevent asics ?

This algo is a SHA 3 hashing algorithm, as far as I know no other coin uses this algorithm and its completely ASIC resistant. Only possible way of mining is by a CPU or GPU.

meaning, if later it will be mined again with blockhain new?


Not sure I understand your question fully. But yes if everyone chooses option 1). It will be mined from scratch with a brand new blockchain.

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January 29, 2017, 08:34:05 AM
 #9

i prefered to vote 1 so it will start as new. this coin were once a very successful coin, once one of the best but unfortunately it doesn't last that long, now the relaunch is here and everyone is hoping that it will regain it's glory and be at the chain and stay for long, it's the literal meaning of it's name, JACKPOT.

                         
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TorCoin.....
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January 29, 2017, 08:36:48 AM
 #10

good news,i vote 1
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January 29, 2017, 09:05:58 AM
 #11

I know this coin one of old coin and being popular and little bit sad when Bittrex delisted this coin and sell my coin, i'm prefer to vote no.1, new blockchain would be the best choice for the relaunch, do you have plan to change the logo too? i hope after relaunch this will be popular again and success.

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January 29, 2017, 09:45:56 AM
 #12

iam vote 1, NEW Blockchain from BLOCK 1
new blockchain block is good to create new altcoin
i will wait to launch youre coin, and i hope next time, same use name coin in jackpot, you can open gambling site

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tontorus
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January 29, 2017, 09:55:01 AM
 #13

iam vote 1, NEW Blockchain from BLOCK 1
new blockchain block is good to create new altcoin
i will wait to launch youre coin, and i hope next time, same use name coin in jackpot, you can open gambling site

I also voted for 1 Smiley Reserved.
JackpotCoin
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January 29, 2017, 10:47:58 AM
 #14

https://bitcointalk.org/index.php?topic=584481.msg17660504#msg17660504
bathrobehero
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ICO? Not even once.


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January 29, 2017, 11:00:05 AM
 #15

- Total coins will be approximately 30 billions.

- Initial payout will be 100000 coins per block

1% premine to cover development costs (website, server, development), code maintenance/enhancements, bounties, shops/games, faucets/giveaways etc.

I loved Jackpotcoin!

But, these three things do not work together anymore in 2017.

1% premine is MASSIVE in this case.

What you should be doing is there should be a developer address where 1% of every block goes. So the devs would get their premine but not all at once.

That would prevent the devs from dumping a shitton of coins on the market and would keep them motivated.
aioc
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January 29, 2017, 11:01:54 AM
 #16

I voted for a coin swap ,this is for the old holders of jackpotcoin who supports from it's first launch,this could be a good coin for lottery and gambling,because the word jackpot suits to this two games,I hope the take over will think and plan on adding lottery and gambling too.

Mallampue
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January 29, 2017, 11:07:58 AM
 #17

I also already vote new blockchain block 1
make it to be interesting, Good luck with you project

tbearhere
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January 29, 2017, 11:21:49 AM
 #18

2) Use Old Blockchain from a certain block height:

It's all a question of balance.
adaseb
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January 29, 2017, 11:51:10 AM
 #19

Alright we'll I got a bit of bad news.


Unfortunately the old developer is not going to let us start a new blockchain without the old coins. We would need to perform a coin swap. And like the previous poster mentioned we need to get rid of the 1% premine and instead make a portion of the block reward go to the developer.

Now with the massive amount of old coins still in existence the amount of programming that would have to go into the coin is just outside of my programming scope. I would be able to perform it manually but it would be too labour intensive that way. Same with the amount of work that goes into recoding the coin to make the block reward split between miner and dev. I don't have much programming experience just can make a few simple small changes.

So it would be best if either the old developer or some new experienced developer can take over instead and perform what is required to get the coin launched again.

I will leave this thread open if anyone wants to volunteer.




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Andy2009
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January 29, 2017, 12:06:35 PM
 #20

I vote for #2 or #3

I have several accounts on the richlist and im prepared to lose some coins but not everything. If the choice is to lose everything then I'm out.

If the blockchain is intact then why not try to make the best with it. Why not ask the "rich" JPC owners to give back coins and put them into a reward program for miners or something like that? I rather lose half my coins than all of them.

or if the majority of old owners agree then force certain percentage of the coins from old owners to go back to rewards for miners etc. if possible of course.

Maybe change from billions of coins to millions.... exchange 1000 for 1 or at least 100 for 1 .... then take 10-20% from all old JPC owners coins and put into a reward program. Is it possible?

I think JPC could be great again but not if we start from ZERO.... just my opinion.
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