[ANN] ZERO - fork of Zcash with harder mining params

[tearodactyl]

Constant block reward is not a good idea, too inflationary, it will take 100 years before the inflation hit's 1%

I disagree with the desire for a deflationary cryptocurrency. All kinds of coin is constantly 'lost' through erroneous transactions, forgotten wallets, dust TXOs.  The debate between the "digital gold" and a "settlement currency" Bitcoin camps, where the miners (and perhaps traders) are finding themselves on the "gold" side, is rooted in the imbalance between the magnitude of per-block miner rewards vs. transaction fees. If the majority of the miner revenue came from the fees, they would have a vested interest in on-chain growth of the retail business. And merchant business is enabled by the liquidity growth that, at a minimum matches the overall economic expansion.
  Tearo

[1715188528]

1715188528

[1715188528]

1715188528

[adolf512]

All inflationary cryptocurrencies has failed, i doubt this coin will be any different unless a fork is done to change the monetary policy. We already have the dollar for people that like high inflation.

Constant block reward is not a good idea, too inflationary, it will take 100 years before the inflation hit's 1%

I disagree with the desire for a deflationary cryptocurrency. All kinds of coin is constantly 'lost' through erroneous transactions, forgotten wallets, dust TXOs.  The debate between the "digital gold" and a "settlement currency" Bitcoin camps, where the miners (and perhaps traders) are finding themselves on the "gold" side, is rooted in the imbalance between the magnitude of per-block miner rewards vs. transaction fees. If the majority of the miner revenue came from the fees, they would have a vested interest in on-chain growth of the retail business. And merchant business is enabled by the liquidity growth that, at a minimum matches the overall economic expansion.

I do agree it is a terrible idea to rely on fees only(it will not work) but a constant block reward is not good either, the optimal system is somewhere in between such as https://bitcointalk.org/index.php?topic=1630098.0 or

reward = (constant-supply)³

you can have limited supply and enough tail emission to secure the network. One interesting solution with unlimited supply is to have the supply increasing logarithmic such as halving after 1,2,4,8,16,,, years.

[Flenger]

Stock Zcash version of the Vaklinov Swing Wallet will not work with Zero, as the wallet file is in a different location. I have a working prototype for Zero that was validated on Linux (the same jar file is used on Windows as well). Will ping the author to coordinate, and may release, if there is real interest.
  Tearo

Are there any successes?

[tearodactyl]

Stock Zcash version of the Vaklinov Swing Wallet will not work with Zero, as the wallet file is in a different location. I have a working prototype for Zero that was validated on Linux (the same jar file is used on Windows as well). Will ping the author to coordinate, and may release, if there is real interest.
  Tearo

Are there any successes?

vaklinov has my changes and has agreed to make a Github repo to parallel his work for the Zcash and ZClassic communities. https://github.com/vaklinov

I have committed to re-test his release, first on Linux and then on Windows, against a running Zero node. We also messaged about further improvements to the wallet and about integrating all three versions into a common codebase. Did tell him that we'll be dropping some ZER into his donation jar, once we find the wallet working and useful.
  Tearo

[tearodactyl]

All inflationary cryptocurrencies has failed, i doubt this coin will be any different unless a fork is done to change the monetary policy. We already have the dollar for people that like high inflation.

Constant block reward is not a good idea, too inflationary, it will take 100 years before the inflation hit's 1%

I disagree with the desire for a deflationary cryptocurrency. All kinds of coin is constantly 'lost' through erroneous transactions, forgotten wallets, dust TXOs.  The debate between the "digital gold" and a "settlement currency" Bitcoin camps, where the miners (and perhaps traders) are finding themselves on the "gold" side, is rooted in the imbalance between the magnitude of per-block miner rewards vs. transaction fees. If the majority of the miner revenue came from the fees, they would have a vested interest in on-chain growth of the retail business. And merchant business is enabled by the liquidity growth that, at a minimum matches the overall economic expansion.

I do agree it is a terrible idea to rely on fees only(it will not work) but a constant block reward is not good either, the optimal system is somewhere in between such as https://bitcointalk.org/index.php?topic=1630098.0 or

reward = (constant-supply)³

you can have limited supply and enough tail emission to secure the network. One interesting solution with unlimited supply is to have the supply increasing logarithmic such as halving after 1,2,4,8,16,,, years.

Finding the right balance between growth and stability and the necessary reward systems is likely impossible ahead of time, and the curve of emission rates should be tuned periodically, say annually. However, the governance of Bitcoin is proving to be no better than of many of the fiat. I suppose one could have some guiding principles, like the fact that the emission eventually ends, and what's tunable is only the rate of convergence, within pre-set bounds. And adjustments are made with a pre-determined formula, that takes into account several metrics for the distributions of fees, transaction number and value, coin valuations.  Not like I know how to generate such a formula.
  Tearo

[adolf512]

Actually what you want is
-predictable monetary polecy.
-low inflation.
-enough inflation to secure the betwork without high transaction fees.

The issue with this coin is simply that the inflation remains high for too long(50 years). When the supply of money over time is predictable the market will be able to give the coin stable value(at least with time), you do not need any governance, a good coin does not need to be forked or adjusted manually.

Also you need to solve the issue of scalability, will the network be able to deliver 100 transactions/s?

[georgeandrews]

Any news about developing this coin ? I still hold some from start .

[matejbilahora]

Any news about developing this coin ? I still hold some from start .

Well this is good question. Who knows what will future bring, I hope that zero is not abandoned.

[tearodactyl]

Any news about developing this coin ? I still hold some from start .

Well this is good question. Who knows what will future bring, I hope that zero is not abandoned.

The coin is NOT dead. https://coinmarketcap.com/currencies/zero/
Circulating Supply 372,200 ZER
Market Cap $59,684 
Volume (24h) $1,979

Since launch, the dev has been updating the initial post, and has added a boatload of trading pairs on Cryptopia:
https://www.cryptopia.co.nz/Exchange/?market=ZER_BTC
This one has 1.3 BTC of Buy orders in place.

The block explorer is working fine, and dev donation jar so far has a few hundred ZEC, worth maybe $40
https://zeroexplorer.com/?account=t1MRhTZYHawTTcuoYVAGT7evviwcH3ZStZN

zeroexplorer.com domain registration is good for another 11 months and is hosted on a respectable VPS provider
https://www.ovh.com/us/

However, the Slack channel has been slacking   Last meaningful posts were in late March.
https://zerocommunity.slack.com

Any developers who want to participate, can join and describe in the #development channel what they want to see added to the project and how they can contribute. Also, add an issue to Github and a post on this forum as well, so we know to follow-up.
https://github.com/zerocurrency/zero/issues
So far there are no pull requests for the project on Github.
https://github.com/zerocurrency/zero/pulls

I am interested in the Zero codebase tracking Zcash releases, so once stable 1.8 comes out will implore the dev to merge, or do it myself, or put up a bounty.

Once the community shows signs of life, we can schedule a small "media blitz" on Twitter, Reddit, various forum posts, article comments. Can share ideas and prior experiences on this thread, and do more detailed planning on the #promotion Slack channel.

So, quit complaining and get involved.
  Tearo

[matejbilahora]

Any news about developing this coin ? I still hold some from start .

Well this is good question. Who knows what will future bring, I hope that zero is not abandoned.

The coin is NOT dead. https://coinmarketcap.com/currencies/zero/
Circulating Supply 372,200 ZER
Market Cap $59,684 
Volume (24h) $1,979

Since launch, the dev has been updating the initial post, and has added a boatload of trading pairs on Cryptopia:
https://www.cryptopia.co.nz/Exchange/?market=ZER_BTC
This one has 1.3 BTC of Buy orders in place.

The block explorer is working fine, and dev donation jar so far has a few hundred ZEC, worth maybe $40
https://zeroexplorer.com/?account=t1MRhTZYHawTTcuoYVAGT7evviwcH3ZStZN

zeroexplorer.com domain registration is good for another 11 months and is hosted on a respectable VPS provider
https://www.ovh.com/us/

However, the Slack channel has been slacking   Last meaningful posts were in late March.
https://zerocommunity.slack.com

Any developers who want to participate, can join and describe in the #development channel what they want to see added to the project and how they can contribute. Also, add an issue to Github and a post on this forum as well, so we know to follow-up.
https://github.com/zerocurrency/zero/issues
So far there are no pull requests for the project on Github.
https://github.com/zerocurrency/zero/pulls

I am interested in the Zero codebase tracking Zcash releases, so once stable 1.8 comes out will implore the dev to merge, or do it myself, or put up a bounty.

Once the community shows signs of life, we can schedule a small "media blitz" on Twitter, Reddit, various forum posts, article comments. Can share ideas and prior experiences on this thread, and do more detailed planning on the #promotion Slack channel.

So, quit complaining and get involved.
  Tearo

I am not involved into development so I do not know how does it work, but as a community we can do some progress if there are users who are willing to help. We have all seen that price can climb high and I think that we can achieve it again.

[Flenger]

I am not involved into development so I do not know how does it work, but as a community we can do some progress if there are users who are willing to help. We have all seen that price can climb high and I think that we can achieve it again.

There is a miner with a capacity of half the power of the network. This is 3600 coins a day - the current turnover of transactions per day.

[matejbilahora]

I am not involved into development so I do not know how does it work, but as a community we can do some progress if there are users who are willing to help. We have all seen that price can climb high and I think that we can achieve it again.

There is a miner with a capacity of half the power of the network. This is 3600 coins a day - the current turnover of transactions per day.

Yes he would be using huge mining farm. 100 gpus?

[Flenger]

I am not involved into development so I do not know how does it work, but as a community we can do some progress if there are users who are willing to help. We have all seen that price can climb high and I think that we can achieve it again.

There is a miner with a capacity of half the power of the network. This is 3600 coins a day - the current turnover of transactions per day.

Yes he would be using huge mining farm. 100 gpus?

GPU miner Dev Fee ? ) IMHO 150 GPUs
I mean that if he does not sell coins now (dropping the coin price), he will sell them later.

[petko6]

ZCash has had a Denial-Of-Service security issue discovered: https://z.cash/blog/security-announcement-2017-04-13.html
It is already fixed for ZCash and ZClassic, ZERO needs a fix too! I hope the ZERO developer(s) will finally wake up and fix it!

[matejbilahora]

ZCash has had a Denial-Of-Service security issue discovered: https://z.cash/blog/security-announcement-2017-04-13.html
It is already fixed for ZCash and ZClassic, ZERO needs a fix too! I hope the ZERO developer(s) will finally wake up and fix it!

It is sad that there is no further development with Zero, it could be next good coin.

[tearodactyl]

ZCash has had a Denial-Of-Service security issue discovered: https://z.cash/blog/security-announcement-2017-04-13.html
It is already fixed for ZCash and ZClassic, ZERO needs a fix too! I hope the ZERO developer(s) will finally wake up and fix it!

It is sad that there is no further development with Zero, it could be next good coin.

Not to despair, I'll look at it today.
  Tearo

[matejbilahora]

ZCash has had a Denial-Of-Service security issue discovered: https://z.cash/blog/security-announcement-2017-04-13.html
It is already fixed for ZCash and ZClassic, ZERO needs a fix too! I hope the ZERO developer(s) will finally wake up and fix it!

It is sad that there is no further development with Zero, it could be next good coin.

Not to despair, I'll look at it today.
  Tearo

You´r the hero.. Would be great..

[zerodev2]

To move ZERO forward I think we all need to realize that “we are in it together”. We may be selfish in our own ways: developers/miners etc. but if the currency dies off, due to not being pushed forward we will all suffer. If more community members become more active I think we can push it forward together…

The main problem to tackle at this stage is indeed the lack of further code base development. Like many I hope the ZERO creator will return to active development. But even if he does not, this is no reason to close shop. Bitcoin did not die when Satoshi disappeared, ZERO can also live on supported by a community. Perhaps one or two developers like @tearodactyl could undertake to continue to develop the code-base and the miners could support them in some way … e.g. developer bounties.

At this difficult time (security issue) I wish to offer my own contribution to ZERO development: I have back-ported the Zcash 1.0.8-1 security fix to the codebase of ZERO (which is based on Zcash 1.0.6). The code is now available on the following alternative ZERO GitHub site:

https://github.com/zerodev2/zero

I wish to ask for help by 2-3 community members who understand code, to review the change and confirm it is OK with them (and write on this forum thread). The security fix is the only change. Then a few other volunteers may run it on their ZERO nodes for a few days to make sure it works for them (works for me locally). After that I will send a pull request to the ZERO creator to incorporate the change… but even if he does not, this will not stop us… if an attack is started by malicious actors we will have a fix to deploy.

For now the question of long term development remains...

Regards to all,
   zerodev2 ;-)

[tearodactyl]

I wish to ask for help by 2-3 community members who understand code, to review the change and confirm it is OK with them (and write on this forum thread). The security fix is the only change.

On it.

[matejbilahora]

Then a few other volunteers may run it on their ZERO nodes for a few days to make sure it works for them (works for me locally).
For now the question of long term development remains...

Regards to all,
   zerodev2 ;-)

[/quote]
Node is up and running..