[ANN] LitecoinPLus wallet update - PoW added

[tysimon]

Hi guys,

Litecoin Plus is very proud to announce PALADIN system, that will be present from imminent v5.0.0.1 release !

In the White Paper you can find more details:
https://litecoinplus.co/downloads/lcpwhitepaper122-en.pdf

As for the system itself, the next post of Spidersbox have a brief explanation.

Cheers,
Simone

[1714486731]

1714486731

[1714486731]

1714486731

[1714486731]

1714486731

[Spidersbox]

[Spidersbox]

Testing of Paladin functions are going well.
So far we have successfully:
turned PoW off
changed PoW reward
turned PoS off
disabled send transactions

[tysimon]

Finished one more PALADIN test:

• Changing block target dynamically (default is 30s)

Cheers,
Simone

[tysimon]

Hi there,

But we do have a MAC wallet, compiled and fully functional:
https://litecoinplus.co/downloads/LCP-v4.0.0.2.dmg

Cheers,
Simone

[tysimon]

Hi everyone. This is an article originally requested by a website, which has not yet published it to date, but summarize very well some of the advantages of Litecoin Plus, so I wanna share with you.

At first glance, Litecoin Plus (LCP, https://litecoinplus.co/) is just another hybrid crypto currency with SCRYPT encryption algo, those with PoW and PoS working at the same time. It is however still completely true to tradition of a 1 tier network and does not use any checkpoint server (the checkpoint code is in it, but is not used). No masternodes. Its very low supply of 4 million coins makes it a potentially very rare asset. After installing the full node wallet and syncing it, you will notice a few subtle things. First of all, the boot time is extremely fast for a crypto with such a large number of blocks, compared to almost all other similar wallets. It’s quite acceptable even on older hardware. Secondly, the syncing happens really fast, with block accepting speeds of almost 10x compared to Litecoin wallets. If you start both wallets at the same time after 1 day of them being off, Litecoin Plus will often be ready and fully synced before Litecoin. The former has 4+ million blocks, compared to the only 700k of Litecoin. This is thanks to the many small optimizations in the code. The team has been able to keep using Berkeley DB and obtain performances similar or better than Level DB. The former is still much more stable and resilient during unpredictable computer crashes or sudden shutdowns, with many repair tools and functions.

Enough of the tech stuff, what Litecoin Plus does is all the basic functionality of any other wallet just a little bit better. Everything about it feels better when using it, there’s no lag when operating with the interface, everything feels smooth and user interface is clean and functional. The wallet Themes are a nice feature and can be fully customized, since they are written in CSS. The Dusting function is exceptionally helpful to de-fragment the blocks when PoS has been running for some time, compacting it back to less blocks.     When the computer is being shutdown directly and the wallet is still running in background, the wallet performs a safe shutdown communicating with the operating system to hold the shutting down until is completed. This is definitely a development team that has user and safety at the top of its priority ! The range of wallets (Windows, Mac, Linux, Android) is completed by a fully functional Web Wallet (https://wallet.litecoinplus.co/), just 2-3 clicks away. Only a real email verification is required to start using it.

With the coming of the dedicated Exchange (https://lcp.exchange/) user will benefit the most, as Litecoin Plus will always have a place to be exchanged, regardless of who’s listing it. Such exchange is its small little reign, where it is the star of the show. Although initial pairs will be limited to LCP-BTC and LCP-LTC, according to the developers, almost all profits will be shared with the user, with an innovative method: “keep your Litecoin Plus deposited at the exchange, and share your part”. The exact formula is in the White Paper of the crypto, at https://litecoinplus.co/downloads/lcpwhitepaper122-en.pdf. If you have a full running node that is exposed with a public IP address, your share of profit is even higher, because you are greatly sustaining the network as well. No words yet on when other pairs will be added or allowed to be added, or whether there will be a fee or not.

It is clear to me that Litecoin Plus is not your traditional “payment method replacement” crypto currency. With its extreme stable chain and excellent software, it is an “instrument of storage of wealth”. Its value is destined to sky rocket in the long term (rate at the time of this article is about 0.02 USD, consider that it did reach 10 USD in the past). The future is all out for the investor. The main developers already pledged to setup a non-profit corporation that owns the coin once the value has reached sufficient number (according to this page https://litecoinplus.co/news.html, 2 millions USD of market capitalization). With the introduction of PALADIN (see https://litecoinplus.co/downloads/51-chart-v1.20.jpg), it will be possible for the developers to watch over the network with minimum intervention on the code in the future, allowing the team and the staff to do even greater things to safeguard the investors. When you see what has been implemented now (stuff like pausing the blockchain, and implementing global sending function suspension) you can only be very curious about what this small but innovative team has in store for us !


Cheers,
Simone

[tysimon]

Hey guys,

Litecoin Plus Web Wallet stake function will be activated December 22nd. Here are the full specifications of the staking:

- Starting date of interests calculation: 2019-12-01 00:00:00
- Interest amount: 10% yearly
- Minimum deposit: 100 LCP
- Interest pay period: weekly

Interests are cumulative, meaning that they will generate their own earnings as well. They will add up immediately to user accounts and are instantly spendable.

For any question, please refer to TECH SUPPORT #web-wallet room at our Discord channel.

Cheers,
Simone

[tysimon]

Hey guys,

Slight addition to the specification above:
- Minimum deposit duration: >= 5 days

This means that if you deposit, you need to wait 5 day cycle before your coin generate an interest. This is done to avoid people users depositing a lot of coins, getting their interests and withdraw immediately before the full node wallet has a chance to ever stake them. In 5 days, the stake will happen almost for sure.

Cheers,
Simone

[mrquackquack]

any new news?

[tysimon]

any new news?

Hi there !

Well, staking is activated and users are already receiving their LCP.

Cheers,
Simone

[mrquackquack]

could we get a big boy exchange? I think this thing is ridiculously undervalued.

[tysimon]

could we get a big boy exchange? I think this thing is ridiculously undervalued.

Yeah, I do agree with you. We have tried to ask Poloniex but there's even no reply to my submission. Anyway, we keep trying

Cheers,
Simone

[tysimon]

Hello guys,

Big news today, Litecoin Plus wallet v5.0.0.1 has been released ! Highly recommended update. You can find all downloads at our home page https://litecoinplus.co. Here is a summary of them:

Git Source etc:
https://github.com/Crypto-Currency/LitecoinPlus/releases/tag/v5.0.0.1

Windows Wallet:
https[Suspicious link removed]

Mac OS Wallet:
https://litecoinplus.co/downloads/LCP-v5.0.0.1.dmg

Linux pre-compiled:
https://litecoinplus.co/downloads/Linux-Packed-v5.0.0.1.zip

The full changelog is here:

Code:

***** Version 5.0.0.1 (RELEASE)
- Project is now fully ported to QT5
- Remove self rescan at boot under certain conditions, not necessary anymore
- BUGFIX: network did not sync with only two nodes, cPeerBlockCountsList declaration fix (don't add an initial zero value)
- BUGFIX: when network resume after sleep or offline, clear the cPeerBlockCountsList internal vectors (BUG introduced by the above BUGFIX)
- BUGFIX: icon in QT when syncing, reflect the status of the IsInitialBlockDownload() function, and not another different logic
- Start over command: dump the chain files and start syncing from fresh with 1 click
- Now possible to disable system notification by a setting in Options dialog (cannot suppress critical notifications, only informational and warning)
- BUGFIX: listreceivedbyaddress RPC call, now accepts 3 parameters correctly (at least one exchange uses the call)
- BUGFIX: on QT5, autocompleter was not automatically hidden when pressing enter to execute the RPC command
- Added listalerts, sendrule, listrules RPC calls, to handle rule sending from any node (with the alert private key)
- BUGFIX: revisited toolbars, button names, positioning and made space for one more page: Log
- Adding Events tab, to display active alerts, information, warnings and critical messages in clear
- BUGFIX: if the wallet is not encrypted, make no sense to have the "Unlock to stake" menu command enabled...
- Display a message when dameon is attempting to connect to RPC but the wallet is still loading the blockchain
- BUGFIX: changed all references to "bicoin-xxx" thread names into "litecoinplus-xxx" names
- Pre-programmed a series of rules in the code for first release of PALADIN (see white paper for version 5.0.0.1)
- "getinfo" RPC method, removed errors/alerts, exposed Rule Height/Rule Sync status as a number/boolean instead
- QT creates the LitecoinPlus.conf file if it doesn't exist
- Automatic ID management for alerts, either for direct alerts or alert/rule packets
- BUGFIX: do not show "info" and "warning" alerts as critical in the system dbus notification, just those who are
- Added a suffix letter in version format for testnet, necessary when testing ('LitecoinPlus-[x]:X.X.X.X')
- Ported back -netoffline option that was in unpublished 4.1.0.1 (possibility to start the wallet offline)
- BUGFIX: adjusted behavior of rule_sync: rules.dat no, height 0 rule_sync=false; rules.dat yes, height 1 wallet offline rule_sync=false
- BUGFIX: PoS minting icon, different logic than the thread itself, let's all use the same logic, shall we...
- BUGFIX: IsInitialBlockDownload behaves incorrectly when syncing from zero, exiting its status almost immediately
- listalerts: added an optional [show_rules=false] parameters, to hide rule packets by default, unnecessary to see for non devs, but useful for eventual troubleshoot
- MAJOR FIX: QT version wasted an immense amount of resources when sending coins from many inputs, removed an unnecessary signal when marking spent coins
- Changed threshold of 10000 bytes to 30000 bytes in advanced coin controls (about 200 inputs can be safely manually selected)
- Changed block amount from 50 to 80 for automatic dusting, considering the new found speed for the major fix above
- Make universally compile version: QT4 and QT5 at the same time (on Windows, still need to use QT4 for compile reasons...)

Thank you,
Cheers,
Simone

[Spidersbox]

It is with immense proud that I announce the 7 rules that will be included in the first release of LCP with PALADIN

(for full specs see the White Paper later, will be published here too and on the main site)

RULE_POW_ON_OFF: with this rule, we can control whether the network, within a specific range of blocks, accepts PoW or not altogether. If the rule is raised, PoW blocks are rejected by the network, and the node is soon disconnected by the clients, as the default behavior for invalid PoW found.

RULE_POS_ON_OFF: with this rule, same as above, we can lock the acceptance of PoS blocks. Along with PoW flag above, with this rule we can effectively pause the blockchain, without adverse effects on connectivity. Of course, as above, these commands are expected to be used in emergency.

RULE_CLOCK_DRIFT: an attack is often carried by advancing the nTime of blocks rapidly mined, so that other nodes are too busy re-organizing the chain, and creating mini forks. Is not necessarily a dangerous thing, just annoying, cause the users would then need to re-sync the blockchain. By adjusting this value dynamically, we can fine tune it if this is detected by our algorithm.

RULE_POS_PERCENT: possibility to adjust the % of PoS remotely. Not really directly used against the attack, but combined with PoW off under certain conditions, could be used to achieve a drastic increase in PoS mining to sustain the network.

RULE_POW_REWARD: possibility to adjust the absolute reward of PoW mining. Again, not directly linked, but since we have added PoS dynamic percent, why not adding also PoW absolute reward. It would probably never be used, but is there.

RULE_BLOCK_TARGET: dynamic block target value (at the moment is 30s). Could be used also to mitigate an attack situation by diluting slightly the block generation.

RULE_DISABLE_OLD_CLIENTS: essentially is the “PALADIN ACTIVATED” flag, and does a few things internally in the code, among which, enabling PALADIN.

RULE_SUSPEND_SENDING: when this rule/flag is activated, all legitimate wallets will be unable to send coins out. This function is essentially the equivalent of suspending withdraws for Exchanges or mining pools or web wallets when a serious problem is detected, and precautionary, stop them. Receiving cannot be stopped, but an exchange could check the status of this rule dynamically with the new RPC command “testrule <height> <rule-type>”, in which <height> is the block height to test, and <rule-type> the rule type required to test, in this case 7. Exchanges could then take immediate actions in case they are receiving coins from some nodes, because legitimate nodes shouldn’t be sending when the rule is on, meaning very likely that the system is being targeted by malicious transactions.

[cmcauliffe]

updated link for windows wallet?

[tysimon]

updated link for windows wallet?

Just go to our website, this thing doesn't let me post it.

https://litecoinplus.co/ , download section.

Cheers,
Simone

[Spidersbox]

quote from message #438

You can find all downloads at our home page https://litecoinplus.co

[karbo.io]

Hey. What is the file in the bootstrap-20190506.zip archive?

[karbo.io]

I unpacked it and launched the wallet for synchronization. But then I saw that there is a LitecoinPlus-v5.0.0.1-setup.exe file.
What do I need to install and what is the difference?

[hydroslave]

I unpacked it and launched the wallet for synchronization. But then I saw that there is a LitecoinPlus-v5.0.0.1-setup.exe file.
What do I need to install and what is the difference?

That is a standard wallet installer , it will install the wallet to your pc,   
its just another formate of the wallet for easy installing.
You can  choose to install that way or just use the standard wallet files in the zip which you manually install.
They are same thing.