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Question: Which domain should Ercoin use for its website?
ercoin.money - 0 (0%)
ercoin.pl - 1 (25%)
ercoin.software - 0 (0%)
ercoin.tech - 3 (75%)
ercoin.xyz - 0 (0%)
Total Voters: 4

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Author Topic: Ercoin — proof of stake, fair distribution, messages, accounts, original code  (Read 2441 times)
krzysiekj
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August 07, 2017, 06:09:47 PM
 #1

Ercoin

Ercoin is an in-development proof of stake currency written in Erlang using Tendermint. Planned features:

  • 100% proof of stake — no wasteful mining.
  • Transaction messages.
  • 1-second confirmations.
  • No chain forks.
  • Expirable accounts instead of unspent transaction outputs.
  • Fair distribution via BlackCoin burning — no premine, no ICO.
  • Accounts managed by multiple keys in arbitrary combinations.
  • Transaction fees decided by consensus.

The currency has not been launched nor distributed yet.


Contributions are welcome.

Ercoin (https://bitcointalk.org/index.php?topic=2071642): proof of stake, fair distribution, messages, accounts, flexible fees, original code
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August 07, 2017, 06:19:32 PM
 #2

Sounds Interesting!

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August 07, 2017, 06:28:28 PM
 #3

Hello Dev, I want to know anything else) Need more information, give it for us!

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August 07, 2017, 07:40:51 PM
 #4

Hello Dev, I want to know anything else) Need more information, give it for us!

For some background and further information, you can read a post to the Erlang mailing list. In case of questions, feel free to ask.

Ercoin (https://bitcointalk.org/index.php?topic=2071642): proof of stake, fair distribution, messages, accounts, flexible fees, original code
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August 07, 2017, 07:56:34 PM
 #5

wallet

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August 07, 2017, 08:04:39 PM
 #6

Hi, what is fair distribution for you? Happy to see more PoS coins hitting the market. They are better for the environment Smiley And easier for anyone to get started with.

How will people get the coins? Through airdrops?
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August 07, 2017, 08:18:22 PM
 #7

Expect more updates Wink

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August 07, 2017, 08:30:55 PM
 #8

What is distribution plan for this coin looking forward to know more in details. What is idea behind this project on which thing you will focus to promote this project. How many coins will be available for distribution.


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August 07, 2017, 08:35:01 PM
 #9

Ercoin waiting for more details also reserved if any bounties proposed to members can't participate in mining process  . Thank you
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August 07, 2017, 08:41:10 PM
 #10

Ercoin

Ercoin is an in-development proof of stake currency written in Erlang using Tendermint. Planned features:

  • 100% proof of stake — no wasteful mining.
  • Transaction messages.
  • 1-second confirmations.
  • No chain forks.
  • Expirable accounts instead of unspent transaction outputs.
  • Fair distribution via BlackCoin burning — no premine, no ICO.
  • Accounts managed by multiple keys in arbitrary combinations.
  • Transaction fees decided by consensus.

The currency has not been launched nor distributed yet.


Contributions are welcome.

Sound's well.

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August 07, 2017, 09:17:20 PM
 #11

Hi, what is fair distribution for you? Happy to see more PoS coins hitting the market. They are better for the environment Smiley And easier for anyone to get started with.

How will people get the coins? Through airdrops?

By fair distribution I mean a distribution in which no entity is privileged. Quoting the README: “Initial amount of coins will be distributed to addresses proportionally to the associated amounts of BlackCoin burnt in a selected time window using OP_RETURN.”. BlackCoin already has a command for creating OP_RETURN outputs. I’ve created a simple program for listing such outputs in a selected block range.

Ercoin (https://bitcointalk.org/index.php?topic=2071642): proof of stake, fair distribution, messages, accounts, flexible fees, original code
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August 07, 2017, 09:32:11 PM
 #12

What is distribution plan for this coin looking forward to know more in details. What is idea behind this project on which thing you will focus to promote this project. How many coins will be available for distribution.

There will be a time window (for example, blocks 1,800,000 — 1,850,00) scheduled during which people will be able to destroy their blackcoins to obtain initially distributed ercoins, proportionally to the destroyed amount. Total coin supply is not chosen yet. Marketing is yet to be worked out, though I suppose it will concentrate on features, efficient economic model and simplicity.

Ercoin (https://bitcointalk.org/index.php?topic=2071642): proof of stake, fair distribution, messages, accounts, flexible fees, original code
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August 07, 2017, 10:49:21 PM
 #13

Oh glad I could reach the first page. 

Could you perhaps expand on the advantages of using Erlang language for coins?




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August 07, 2017, 11:41:55 PM
 #14

Interested in this. You will set a date for when we should burn blackcoin and then ercoin will be set to wallets or something?
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August 08, 2017, 06:17:28 AM
 #15

why blackcoin burning?  Why not bitcoin burning? This way you limit your reach a lot.. Looks like an internal blackcoin community affair. Possibly pump attempt
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August 08, 2017, 06:24:28 AM
 #16

Looks interesting Smiley

Glad a PoS currency with no max cap was choosen for this project to initiate distribution!
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August 08, 2017, 06:28:00 AM
 #17

Looks interesting

Waiting for more updates  Wink





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August 08, 2017, 10:50:13 AM
 #18

why blackcoin burning?  Why not bitcoin burning? This way you limit your reach a lot.. Looks like an internal blackcoin community affair. Possibly pump attempt

I'm a big Blackcoin fan but the concerns you raise are valid. Some proof of burn coins use multiple coins for the distribution and limiting it to one coin does warrant scepticism.  

The advantage of burning from multiple coins is competition. The weakness though is that the added complexity of multiple coins gives more means for manipulation. A big whale could pick a coin with the lowest volume and drive down his own entry point to get access to the burn coin. That's much harder to achieve with a single point of entry.  

Bitcoin itself is not actually that well spread. The amount of active users may be much higher but there are huge whales amongst them.  

The main reason why Blackcoin is the suggested source, as laid out in his blog, is because the protocol of Ercoin is nearly identical to Blackcoin. It's the same PoS, it's the same launch principles, the same protocol. It's practically Blackcoin written in Erlang. And this makes sense because Blackcoin is a very pristine coin in this ecosystem. There's no premine, no ICO, no developer fees on transactions or on the staking, the distribution has been completely fair and transparent.  

The reasons for using Blackcoin seem pretty obvious, but if I were an outsider I would too wonder why specifically this coin. I think it also leads to the question what exactly makes Erlang so much more valuable that it warrants a new coin. This may be personal ignorance but the added value at this moment seems quite abstract.  

Looks interesting Smiley

Glad a PoS currency with no max cap was choosen for this project to initiate distribution!

Technically there is a cap, that of Blackcoin. Though practically saying any real practical cap that would be (much) lower than Blackcoin would be bad as it would create lots of opportunities to leverage the launch. Making the potential cap go as high as it's burn source is legit, especially on a coin that's well distributed. 




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August 08, 2017, 10:54:17 AM
 #19

At what stage is your project?

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August 08, 2017, 05:10:49 PM
 #20

why blackcoin burning?  Why not bitcoin burning? This way you limit your reach a lot.. Looks like an internal blackcoin community affair. Possibly pump attempt

BlackCoin is the first free, 100% proof of stake cryptocurrency with fair distribution. It is still easier to obtain BLK than to buy mining hardware needed to participate in Bitcoin distribution.

I'm a big Blackcoin fan but the concerns you raise are valid. Some proof of burn coins use multiple coins for the distribution and limiting it to one coin does warrant scepticism.

I don’t see how initial coin distribution via burning multiple coins could be reasonably done. Let’s say that one user burns 10 BTC and another burns 10,000 BLK. How do we compare these two values?

The main reason why Blackcoin is the suggested source, as laid out in his blog, is because the protocol of Ercoin is nearly identical to Blackcoin. It's the same PoS, it's the same launch principles, the same protocol. It's practically Blackcoin written in Erlang.

From a coarse perspective, there may be some similarities, but mechanisms are fundamentally different, starting from the fact that there will be no concept of unspent transaction outputs in Ercoin.

The reasons for using Blackcoin seem pretty obvious, but if I were an outsider I would too wonder why specifically this coin. I think it also leads to the question what exactly makes Erlang so much more valuable that it warrants a new coin. This may be personal ignorance but the added value at this moment seems quite abstract.

Erlang in itself may not justify making a new coin, but it has some features which make it an attractive language for such purposes. Among them are:

  • Great support for concurrency. A cryptocurrency network is a set of many nodes that send themselves messages asynchronously. This can be naturally modelled in Erlang. (Actually in case of Ercoin Tendermint mostly takes care of concurrency).
  • Libraries for creating state machines. A cryptocurrency is basically a decentralized state machine.
  • Bit syntax, making it easy to handle protocol messages.

Erlang is a functional language and there are other languages compiled to Erlang’s virtual machine, like LFE and Elixir (LFE is actually used in Ercoin). It is also praised for its fault tolerance and ability to achieve high uptime (with hot code reloading), which may have some significance for maintaining network nodes.

At what stage is your project?

Roughly speaking, to have a working network suitable for pre-production testing:

  • a few missing things need to be implemented;
  • there are some changes needed in Tendermint;
  • NIST should publish a new API for their entropy beacon.

Ercoin (https://bitcointalk.org/index.php?topic=2071642): proof of stake, fair distribution, messages, accounts, flexible fees, original code
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August 08, 2017, 05:24:27 PM
 #21

I think your thread is not detailed enough, requires more information, and needs to set more rewards to attract a large number of people to participate
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August 10, 2017, 12:46:44 PM
 #22

First pull request to Ercoin was submitted (some minor commits have also been pushed directly to the master branch). It adds apportionment modules written in LFE (Lisp Flavoured Erlang), hence should be more-or-less understandable to people familiar with Lisp syntax.

Ercoin (https://bitcointalk.org/index.php?topic=2071642): proof of stake, fair distribution, messages, accounts, flexible fees, original code
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August 10, 2017, 12:51:28 PM
 #23

how to fair distribution? how to join ? airdrop?



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August 10, 2017, 01:08:13 PM
 #24

You get it through burning Blackcoin.




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August 15, 2017, 09:51:44 AM
 #25

I’ve established two bounties for Ercoin-related development:


See the relevant issues for details.

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August 19, 2017, 08:59:38 AM
 #26

I’ve created a non-binding poll about which domain should Ercoin use for its website (which doesn’t exist yet).

Ercoin (https://bitcointalk.org/index.php?topic=2071642): proof of stake, fair distribution, messages, accounts, flexible fees, original code
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August 31, 2017, 12:42:37 PM
 #27

I’ve created a non-binding poll about which domain should Ercoin use for its website (which doesn’t exist yet).

Where is that poll? Smiley
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August 31, 2017, 12:56:13 PM
 #28

I’ve created a non-binding poll about which domain should Ercoin use for its website (which doesn’t exist yet).

Where is that poll? Smiley
Look at the top of this topic. Smiley

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August 31, 2017, 01:01:56 PM
 #29

I’ve created a non-binding poll about which domain should Ercoin use for its website (which doesn’t exist yet).

Where is that poll? Smiley
Look at the top of this topic. Smiley

Sometimes the things are literally in front of your nose Grin Thank you!
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September 05, 2017, 06:01:14 PM
 #30

A simple website is now live: http://ercoin.tech. It is crude on purpose, as its aim is to provide information and it’s targeted primarily for potential contributors, not for broad audience yet.

Ercoin (https://bitcointalk.org/index.php?topic=2071642): proof of stake, fair distribution, messages, accounts, flexible fees, original code
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September 05, 2017, 08:02:23 PM
 #31

Does accounts mean that people won't be able to mistakenly send money to a nobody's wallet?




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   ▀▀█████▀██▄        ▀██████▀    ██         ██    ▐██████▀▀       ▐█   ▀█▌   ██         ██   ▐█        ▀█▌       █▌   
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September 05, 2017, 11:02:54 PM
 #32

Does accounts mean that people won't be able to mistakenly send money to a nobody's wallet?

Yes, this is even tested.

Ercoin (https://bitcointalk.org/index.php?topic=2071642): proof of stake, fair distribution, messages, accounts, flexible fees, original code
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September 05, 2017, 11:42:28 PM
 #33

sounds is good.
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September 12, 2017, 10:34:52 AM
 #34

Some development-related news:

Tendermint has recently added a roadmap to its repository. The first two entries are the issues that Ercoin is particularly interested in:


The issue with Triq plugin for erlang.mk has been diagnosed. The source of the problem occured to be in Erlang itself. Bounty has been extended until November 1st, giving precedence to the person that debugged the issue.

NIST beacon page still states that “Version 2.0 of the NIST beacon is planned to be deployed in the Summer of 2017.” Not much time left then. Relevant TODO: https://gitlab.com/Ercoin/ercoin/blob/bbc1297188da73e95c0a46196ae1a4475c8877c7/src/ercoin_abci.erl#L561

Ercoin (https://bitcointalk.org/index.php?topic=2071642): proof of stake, fair distribution, messages, accounts, flexible fees, original code
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September 28, 2017, 10:33:56 PM
 #35

I’ve started writing a simple GUI wallet in ClojureScript. Source code is currently available at https://gitlab.com/KrzysiekJ/ercoin-wallet. Every commit is automatically built and deployed to https://krzysiekj.gitlab.io/ercoin-wallet/ (so there is already a working demo). For now, there is only account (keypair) management, without persistence, without transaction handling and without actual communication with the node (which will use WebSocket endpoint provided by Tendermint).

Ercoin (https://bitcointalk.org/index.php?topic=2071642): proof of stake, fair distribution, messages, accounts, flexible fees, original code
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January 23, 2018, 12:06:37 PM
 #36

Development news:

Fee deposit mechanism has been changed. Deposit has been divided into short (fees paid for current processing) and long (fees paid for long term storage). At the end of every epoch, short fee deposit and part of long fee deposit are divided between those validators that have less than 2/3 of absencies in block signatures, proportionally to their voting power. The sharp threshold intends to disincentivize censorship attacks. The whole mechanism allows to bypass/diminish issues with putting proposer into block header and injecting entropy into Tendermint. See comments in issue 952 in Tendermint for details.

Despite to what https://beacon.nist.gov/home says, version 2.0 of the NIST randomness beacon has already been relesased. I’ve submitted a merge request to Ercoin preparing ground for planting beacon-generated values.

There have been new versions of Tendermint (and ABCI) released. The newest one is 0.15.x (Ercoin currently runs on 0.14.x).

Ercoin now has continuous integration.

Issue related to Triq plugin in erlang.mk has been fixed (in Erlang; fix is not available in any of the released versions yet). I’m willing to pay part of the relevant bounty.

Ercoin (https://bitcointalk.org/index.php?topic=2071642): proof of stake, fair distribution, messages, accounts, flexible fees, original code
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April 25, 2018, 11:00:15 AM
 #37

Development news:

The GUI wallet now supports persistence, transaction creation (for transfer and account transaction types) and communication with Tendermint (using RPC). It can therefore be used to play with an Ercoin node.

It is now easier to run a node for testing purposes, as IPFS is no longer used to bootstrap initial state and also there is Docker support. If Docker Compose is installed, then starting a node (consisting of ABCI server and Tendermint as ABCI client) is just a matter of executing a few commands.

Tendermint has been updated to 0.17.1.

Ercoin now supports persistence, hence restarting a node doesn’t mean replaying all transactions. State is dumped to disc at the beginning of each epoch.

Note that currently the GUI wallet encodes keys using Base58, while the command line wallet uses hex encoding.

Ercoin (https://bitcointalk.org/index.php?topic=2071642): proof of stake, fair distribution, messages, accounts, flexible fees, original code
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April 26, 2018, 09:48:04 AM
 #38

Great and promising project. Looking forward for development of the project and the implementation of the long term plan for the project. I hope that many people are interested in your project
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June 14, 2018, 03:14:42 PM
 #39

News

A Telegram group and a Discord channel have been created by muf18. They are not currently bridged to the official IRC channel, though it is under consideration. As a reminder, the IRC channel is bridged with the Matrix network which has many clients.

The ercoin_abci module (over 2000 lines of code) has been split into smaller ones. This will hopefully make the code more accessible to new developers.

Validators now won’t get full rewards if an epoch lasted longer than expected (this is introduced to eliminate an incentive to delay blocks and make an epoch last longer, covering more transactions).

Calculation of genesis data has been documented and implemented. The browser wallet supports creating genesis transactions.

A new transaction type for burning coins has been introduced. Also balances of expired accounts are now destroyed instead of being put into long fee deposit. This makes Ercoin a slightly deflationary currency.

Tendermint version has been upgraded to 0.20.0.

ercoin.tech is now generated using Zodiac instead of Hakyll. The main reason for that change is that there was no caching of Hakyll compilation between CI builds and as a result they used to last very long. Zodiac is a much more lightweight solution, as it depends on Make, AWK and sh instead of 3.5 GB of Hakyll binaries.

The browser wallet has become an official one and it now supports lock transaction type.

Ercoin (https://bitcointalk.org/index.php?topic=2071642): proof of stake, fair distribution, messages, accounts, flexible fees, original code
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June 19, 2018, 06:34:58 PM
 #40

I think your thread is not detailed enough, requires more information, and needs to set more rewards to attract a large number of people to participate

Generally needs more info, more of a hook to capture peoples attention.     First five minutes of every introduction to a new entrant is vital in settling an image going forward in peoples handle on that particular product innovation I reckon

I would vote this domain from the choices listed.    I guess this is very much a work in progress so I'm always interested in new ideas and possibilities of course, good luck.
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