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 Author Topic: [ANN] Elacoin | Released | Fair Elastic Scrypt Mining | No Premine  (Read 133861 times)
mat5x
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 June 01, 2013, 08:01:14 PMLast edit: June 03, 2013, 06:34:57 PM by mat5x

yes no one suggest 25x or 50x reward increase. however, if your purpose is to FUD the coin to death, then keep trying. community concensus here, people. no central authority: remember what BTC is about! Milkshake hasnt been around since 4hrs after launch, so, he's pretty much gone.

The hashrate is low and the blocktimes are in the 2-4hr range, 60-120+x slower than intended right now.

Ultimately, the idea is scaling the reward with difficulty, as per the original release. However the original code didnt start doing this til diff=24 and we never got there. Also, it said "halving every 9 months (194400 blocks)" but the math in the code doenst reflect that. It's * 1/(n+1) where n is # of 270-day periods. (UTSL / RTFM!)

Right now with a diff of 4.35 things are slow. And the reward is 1.00.

Ultimately we've mostly agreed on this:

- reward = difficulty, smoothed to ELAtoshis. this means if you throw 1MH/s into the coin, you get 1MH/s worth of coins out, always, forever, modulo the time-based scaling mentioned below
- keep the 1/(n+1) 270-day periods scaling, smoothed out (ongoing smooth reduction, not a 'halving' event like with BTC)

- fixing current situ with hard fork:
- set difficulty=1.1, giving a 1.0 ELC block now (due to 270d period scaling), ie exactly what the reward is right now
- min reward based on diff is always 1 (then scaled by 270d-period scalings, keeps miners interested producing a minimal threshold hashrate for the coin)
- allow a difficulty retarg in 1/4 the normal interval (we're jsut past 8*2160 '3-day' intervals now, so at 8.25 * 2160 = 17820th block retarg
- another retarg at 8.5 * 2160 = 18360th block to allow proper readdjusting for new miners joining on (or lack of hash power to reduce diff more if slow)
- one more adjustment retarg at 8.75 * 2160 = 18900th block for more adjusting
- regular retarg schedule at 9 * 2160 = 19440 and every 2160 blocks ('3 days' if we hit a proper hashrate giving 2 min blocks)
- keep the 4x and /4 maximum retarg scaling parameters (bet you didnt know about those! yes max 4x increase or decrease)
- keep the max # of coins as is
- hard fork around block #17760 (at 17747 now with 2-4hrs/block)

Theory behind this:

- original idea of ELC was thus. Milkshake said 18 month periods (moore's law) but picked 9. Not sure why. Maybe he's bad at math. Changing it to 18 would be a major disruption to orig. schedule, so leaving it is best
- many coins right now are just valued by those mining them. there's no global market of trading corn for ELC, or CNC or even BTC's right now. only miners and speculators are valuing them.
- btc has serious delfation. there's no 'set right amount' of inflation that should counter it, but pegging a coin to the amount of mining power required to produce it seems fair
- there will be improvements in technology (maybe not for scrypt?) - so we'll keep the 9 month 1/(n+1) reduction, which is LESS aggressive than BTC, LTC, etc, and will be a deflating force on the inflation of more miners/higher diff = more coins per block
- anyone who says with any certainty "they know whats going to happen" and "the coin will inflate insanely!" or "delfate insanely! do we need another BTC?" is just wrong - you have no idea what will happen, neither do any of us. Right now, immediate and medium term APPEAL seems to be a good mode of addressing coin's creation/management, and pegging it to mining power seems equitable. If it inflates insanely, big deal, we're just as bad as any other coin (check out the trading rates for many new coins, i dont have enough decimal 0's around to price them).

The increasing diff/reward vs the decreasing 9 month 1/(n+1) will balance out the coin (not perfectly, but how could you without pegging it against a real world currency - and how you going to do that, flood the market with buys and sells with your \$1million float in the same way real govts manage currencies?). Any more than that no one can say.

EDIT:

We didnt set diff to 1.1, we let it scale down by up to /16 (which is what it will likely be in 3 blocks at the fork). However, reward is 1.00 fixed until block 18360, then reward = diff * scaling on the 270d period applies. 1.1 woulda been a slow block rate unless we got major hash power in which we werent certain of.

At the 0.27 difficulty, the reward of 1.0 will be higher than usual but is designed to re-attract miners to the coin. However, its only 270 coins worth (so dont whine about total devaluation of the coin

Elacoin/ELC - block reward proportional-to-difficulty coin! http://elacoin.com
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BrewCrewFan
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 June 01, 2013, 08:04:15 PM

Good to see a few still working on this. I am sure Milkshake is around just under another name

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mat5x
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 June 02, 2013, 05:52:59 AM

Indeed we are working on it. We've tested the code a bit today and will release tomorrow likely with appropriate repo's and what not. We'd love feedback on any bugs or whatnot. Stay tuned.

This is a benefit to everyone to revive an otherwise soon-dead coin, so any shenanigans are pointless on our or anyone else's side.

Elacoin/ELC - block reward proportional-to-difficulty coin! http://elacoin.com
barwizi
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 June 02, 2013, 08:49:29 AM

the community is small enough, if the code is available, maybe you should release now and let people see the changes before they decide to join the band wagon
mat5x
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 June 02, 2013, 07:10:22 PM

the community is small enough, if the code is available, maybe you should release now and let people see the changes before they decide to join the band wagon

yep that's fair we're just testing things out now to make sure we're not totally breaking things.

will post this aft tho i dont know if everyone should adopt the code immediately til we decide it's good. not just good coin parameters, but good code syntax, no bugs

retarg is looking like @ block #17820, which is 8.25 * 2160 (ie exactly 1/4 into the 2160 block retarg cycle) and just a few dozen blocks ahead of us. (at 17790ish now)

for simplicity we've also decided to set the reward to 1.00 ELC as it is right now, until the network settles down with miners after the retarg, then after 1/4 * 2160 blocks (ie 540 blocks) the scaling of the 270 day cycle will apply (and block will be slightly less than value 1 ELC due to scaling of course, as we're 9% of the way to 194400 (270days) at #18360 (8.5 *2160))

the blockrate has been very slow, so trying to add code that allows scaling to give something closer to the proper block rate. however, if diff drops < 1, rewards are still given as if diff = 1 to give a minimum incentive to keep mining (as mentioned previously).

so summary:

block 0-17820: reward 1, retarg diff at 17820
block 17821-18360: reward 1
block 18361+: reward scaled by (block#+194400)/194400

Elacoin/ELC - block reward proportional-to-difficulty coin! http://elacoin.com
mat5x
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 June 02, 2013, 10:05:47 PMLast edit: June 03, 2013, 06:06:54 AM by mat5x

godamnit. BTCtalk went down middle of my post and i lost it all. :/

diff of code changes to the 2 main functions in main.cpp:

http://pastebin.mozilla.org/2478635

sorry the comments are cut off in the diff.

github:

https://github.com/elacoin/elacoin/tree/master/src

comments also cut off there unless you download it, can view here the 3 files that were changed.

full code in there. only 2 functions changed in main.cpp (reward and diff retargetting). net.cpp has 1 debug line extra to see who sent you a block, and irc.cpp changes the irc channel so old and new clients dont collide as much. (actually the line is in main.cpp for the debug, not net.cpp, so its untouched except increasing max clients, a local mod for myself, removing it from git)

edit: net.cpp is now stock original.

-mat5x

Elacoin/ELC - block reward proportional-to-difficulty coin! http://elacoin.com
nonameo
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 June 02, 2013, 11:23:57 PMLast edit: June 07, 2013, 02:35:40 AM by nonameo

For clarification, most of the fixes I managed to find scouring through threads on bitcointalk. So, I think I pulled a fix by comparing tyrone70's .pro? and I can't remember where I got the fix for the net.cpp. I had other problems that were just me being stupid. I can't remember everything

To Compile windows QT client(get sources from github? :

If you want to compile for windows, you need to do 2 things:

1. In the elacoin-qt.pro file you need to add(no quotes) "__NO_SYSTEM_INCLUDES" to the DEFS(it's at the top). If you're compiling elacoind.exe do "-D__NO_SYSTEM_INCLUDES" instead, and do it in Makefile.mingw instead.

in net.cpp, you need to remove the "/miniupnpc/" from all the UPNP header includes. Not an ideal solution but it works.

I compiled with UPNP support. You don't have to, but I don't see why it would hurt to compile it with it. You'll get some noise from qmake either way.

Otherwise, follow the instructions for building the headless windows bitcoin QT client here:

NOTES:

1. You can ignore the leveldb stuff
2. make sure your directory slashes are unix style "/" in elacoin-qt.pro and makefile.mingw

https://bitcointalk.org/index.php?topic=149479.0

I'll upload the client to google drive just as soon as I can get it compiled.

nearmiss
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 June 03, 2013, 05:39:47 PM

New pool up and ready to go for the hard fork.  http://elc.scryptmining.com  stratum-only, proportional payout per block.  Check us out!

Profit-Switching Pool w/ Vardiff -> http://hashco.ws  Optionally keep the alts we mine or auto-trade for BTC. In addition can be paid out in any of: 365, AC, BC,  BTC, C2, CINNI, COMM, FAC, HBN, MINT, PMC, QRK, RDD, WC, XBC
mat5x
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 June 04, 2013, 02:11:59 AM

hard fork working well, we're at 1.95 minutes per block. cant get any better than that (target was 2 minutes.)

next diff will likely move us from .27 to .3 , leaving the block time as is! sweet. this is working properly.

high value coins coming out now til 18360 before regular scaling takes hold. set your miners on KILL!

I WISH COINCHOOSE WOULD UPDATE it's showing 16x LOWER than actual. get in before everyone finds out.

Elacoin/ELC - block reward proportional-to-difficulty coin! http://elacoin.com
mat5x
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 June 04, 2013, 02:54:52 AM

REORGANIZE
REORGANIZE: Disconnect 282 blocks; 7f24078d4a4e023e2d6c..01fd900e3436f1df4b46

cant fight someone with a giant rig just by having a nice coin setup with a supportive community. that's worth nothing.

Elacoin/ELC - block reward proportional-to-difficulty coin! http://elacoin.com
nearmiss
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 June 04, 2013, 03:18:17 AM

So....we just got screwed eh?

Profit-Switching Pool w/ Vardiff -> http://hashco.ws  Optionally keep the alts we mine or auto-trade for BTC. In addition can be paid out in any of: 365, AC, BC,  BTC, C2, CINNI, COMM, FAC, HBN, MINT, PMC, QRK, RDD, WC, XBC
sal002
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 June 04, 2013, 03:24:10 AM

hard fork working well, we're at 1.95 minutes per block. cant get any better than that (target was 2 minutes.)

next diff will likely move us from .27 to .3 , leaving the block time as is! sweet. this is working properly.

high value coins coming out now til 18360 before regular scaling takes hold. set your miners on KILL!

I WISH COINCHOOSE WOULD UPDATE it's showing 16x LOWER than actual. get in before everyone finds out.

I updated (elacoind kept crashing).  But is there an issue?
mat5x
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 June 04, 2013, 03:37:37 AM

is there an issue? maybe. someone went and mined their own chain of 283, and beat our chain.

hows that possible? by them having more hash power. I dont think its any of the pools as I know individuals with as much power as the pools, and there's 2-3 of them out there who are acting (as far as Iknow...) on good faith. just like every other coin.

what can we do? continue mining. someone with a lot of hash power thinks the coin is worth something, so we got someone's attention. it's up to us if we want to maintain the value in the coins we already have or not.

the difficulty is slightly lower than it should be (.15 instead of .3) so current coins worth more than later coins too, so that's a (kinda, wierd) bonus for now til 18360 when regular reward takes over.

only more hashing power by fair-dealing miners will stop this, or else its worth nothing to anyone.

Elacoin/ELC - block reward proportional-to-difficulty coin! http://elacoin.com
mat5x
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 June 04, 2013, 03:40:02 AM

I updated (elacoind kept crashing).  But is there an issue?
[/quote]

Thanks for the update, now we might get some real hashpower to cement things in place properly to stop this kind of attack.

Elacoin/ELC - block reward proportional-to-difficulty coin! http://elacoin.com
barwizi
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 June 04, 2013, 05:10:49 AM

i really hate these people.
mat5x
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 June 04, 2013, 06:35:04 AM

i help run ZeroPool.

it is finding new blocks, but this Pool software which all 3 pools run, are reporting stats wrong. So do not fear. its a reporting bug, not a bug that will affectshares and payouts:

BitcoinMiner:
proof-of-work found
hash: 000000000f58129f05a2de1c1128eff79dbfb6624ca08ef06ed1615bef8aa1b9
target: 00000000cce90000000000000000000000000000000000000000000000000000
CBlock(hash=1e314295a5ebd3aa2578, PoW=000000000f58129f05a2, ver=1, hashPrevBlock=381151d6190187646a4e, hashMerkleRoot=9866b6f29a, nTime=1370326748, nBits=1d00cce9, nNonce=2013293824, vtx=1)
CTransaction(hash=9866b6f29a, ver=1, vin.size=1, vout.size=1, nLockTime=0)
CTxOut(nValue=0.90979200, scriptPubKey=022b9212cea3821d494cd934dde681)
vMerkleTree: 9866b6f29a
generated 0.909792
keypool keep 260
SetBestChain: new best=1e314295a5ebd3aa2578  height=18955  work=30760650524082  date=06/04/13 06:19:08
ProcessBlock: ACCEPTED

for eg.

someone comment on the pools' bug? (I didnt install the pool or set it up, i just helped update the client behind it properly.)

Elacoin/ELC - block reward proportional-to-difficulty coin! http://elacoin.com
mat5x
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 June 04, 2013, 06:30:20 PM

scryptmining pool reporting bug fixed, payouts coming.

elacoinpool should be soon./

Elacoin/ELC - block reward proportional-to-difficulty coin! http://elacoin.com
mat5x
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 June 07, 2013, 06:50:22 AM

is their any windows version for this yet ?

Windows version at github:

https://github.com/elacoin/elacoin/tree/master/windows-binaries

and mac too!

Elacoin/ELC - block reward proportional-to-difficulty coin! http://elacoin.com
WindMaster
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 June 16, 2013, 10:11:37 PM

More of the same, it seems:

Code:
06/16/13 22:06:27 REORGANIZE: Disconnect 168 blocks; aa0c7d4a4175c0a7e60f..d46843aec3fa51f1d936
06/16/13 22:06:27 REORGANIZE: Connect 169 blocks; aa0c7d4a4175c0a7e60f..753aef9f7df2242cc154
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