Elacoin: THE FAIR MINING COIN - reward ~= difficultyUpdate #10 12/25: Still not dead. Find us on #elacoin on irc.freenode.org
Update #9 06/22 18:00Z: Not Dead Yet[tm] Still around after being busy on other stuff, going to get the difficulty retargetting fixed so we can deal with CoinChoose hashwaves. Everything else will be the same (valuation, threshold value at diff 1 = 1 still, etc etc.) So no major changes, just getting back to reasonable block times, and code to deal with yet another CC hashwave.
Also we checkpointed block 21980, update your src's, WIN-QT is coming soon to github, stay tuned.
Update #8 06/10 02:40Z: Checkpoint 21600 (the 10th nInterval), retarg'd to .888 diff. Coinchoose is back up and causing stupidity. Update clients (src and .exe's updated, MAC
soon is up now 06/10 05:17Z).
Update #7 06/09 06:45Z: Checkpoint 20940. Retarg'd at 19440 to .31 diff as expected. Hashing continues apace, this time without CoinChoose's disruptive influence, cuz it's down right now. next retarg at 21600, < 600 blocks
Update #6 06/07 07:21Z: MOAR checkpointz! update your clients: checkpoints.cpp: block 19400 hash: ce70abf9c0930d5cdcff555ceec6e6777f70f3a8bbc4b1efc9ac5c49a3b6c8e6
Update #6 06/06 21:15Z: update your clients plz: checkpoints.cpp: block 19350 hash: c6c725fb3c376a2cc4a0796ab4aa04af1ff472628c8e82ece55657b60b3150a5
Update #5 06/05 18:10Z: new checkpoint in the code, update your clients for all our mutual benefits. (was for block 19200)
Update #4 06/05 05:17Z: minor brainfart: 19440 is the next retarg. 2160 * 9.
Update #3 06/04 21:27Z: http://elc.Scryptmining.com pool working fine. Use that for now. Idea for a lottery give away for mining on it, base reward for mining + more for hashpower so everyone gets a chance. Ideas on parameters?
Just want to keep things going to 19400 so we maintain a viable coin & value.
COMMENT: Next natural retarg is at 9*2160 = 19400th block. Diff now is 1.25, and max factor is /4. 1.25/4 = .3125. Profitability will increase by 4x. Worth sticking around for to get to 19400.
GIVEAWAY UPDATE: Done with the giveaway, but considering to give bounties for mining
UPDATE #2: Scryptmining.com fixed their reporting bug. Elacoinpool should be soon. No shares are lost, and all will be paid out.
UPDATE: All pools were updated and are serving shares. However there is a reporting bug. Shares will be paid out properly, but blocks are not being reported in stats. Pool owners have been notified. Continue mining, you will receive shares. This is a bug in pushpool.
There will be a hard fork at #17820.We have updated ELC clients at
https://github.com/elacoin/elacoinWe have a WinQT binary at GitHub. Additionally a compile guide for WinQT (see orig thread linked below).
Please see the original thread here for details on the changes:
https://bitcointalk.org/index.php?topic=203647.msg2352798#msg2352798Summary:
- base reward = difficulty. This means you always get the same reward for the same hashing power, factored by the 270day scaling factor. No worrying about 10x the hashrate giving you 1/10th the coins.
- difficulty retarg will occur at 17820 and again 270, 540 and 1080 blocks later before returning to every 2160 blocks.
Estimated next diff
.15 ish (40x easier than current way high diff) WILL BE 0.27 (due to the code's max /16 retarg divider) but min reward is based on diff = 1, so high benefit for mining diff < 1.
Additionally we have properly implemented the original ideas behind the coin, fixing up some of the code to get rid of side effects and produce as well a smooth scaling feature uncommon in other coins to avoid a violent 'halving' event situation like with BTC.
As you can see we have kept this coin alive through hard work and commitment of the community. This is not a pump and dump coin or opportunity. There is no < 0.001 difficulty opportunity here. This should be attractive to lower end miners, and trouble big rig farmers who count on blocktimes faster than network diameter to ensure orphan dominance. Sorry. Everyone will get rewards equal to their hashpower, regardless of how many new miners join the effort.
Infrastructure:
Please discuss ELACOIN in the original thread linked above, as this thread will be a giveaway thread.
