[ANN][SBC] StableCoin ¦¦ A new breed of cryptocurrency ¦¦ v1.2 RELEASED

[artos]

From Death Comes Life – The Rebirth of StableCoin

StableCoin has been relaunched. Please refer to the new thread from now on: https://bitcointalk.org/index.php?topic=349198.0

VERSION 1.2 RELEASED - UPDATE YOUR CLIENT

This update reduces transaction fees (by 50%). Updating is therefore highly recommended.

Windows Client: https://github.com/stablecoin/stablecoin-qt/archive/master.zip
GitHub: https://github.com/stablecoin/StableCoin

RETHINKING CRYPTOCURRENCY FROM THE BOTTOM UP

Extensive testing using network simulation software has shown that 40 seconds is the optimal block time. This allows ample time for blocks to propagate across the entire network. It gives us fast confirmations, while minimizing orphans and forking issues that we saw affect faster coins like WorldCoin and FastCoin. Long term, it will also help keep blockchain bloat down. Our testing has shown that a block time lower than 40 second makes a coin unsuitable for long term stability and growth. We recognize the desperate need for a fast confirming coin, and offer the sweet spot between speed and stability.

Scrypt was chosen as an encryption algorithm. Other candidates were Blue Midnight Wish, SHA3, and Skein. After much analysis we came to the conclusion that such algorithms make for a nice selling point, but fall short of Scrypt in terms of securing a blockchain. Our aim is to create the best coin possible, not lure you in with gimmicks.

We've changed the magic number for StableCoin. What is the magic number? It's an often overlooked, but very important, variable within the code of bitcoin. This value affects how the entire blockchain is formatted, and is a key factor in determining how peers are matched up over the network. Failure to change this value opens the door to many vectors of attack. Ever load up an coin client and have it start to download the Litecoin blockchain? That is because the developers of that coin neglected to change the magic number to a unique value.

Block reward is 25 coins per block, with a block target time of 40 seconds. Difficulty will be recalculated every 90 blocks, which is much lower than other coin releases. We choose this value for several reasons:

1) It allows the network to find it's natural difficulty much faster, ensuring a fair and accurate spread of coins.
2) It prevents blockchain stalling from ever happening. No one likes having to issue a hardfork.

We want StableCoin to be a steadily mined currency, not one that is pumped and dumped. These values will assist us in reaching that goal. A total of 250 million coins will be minted, with block reward halving every ~3.7 years.

We believe the strongest asset a coin can have is active, talented developers. We will be on the forum daily answering questions and resolving issues, as well as helping to grow StableCoin by working behind the scenes to develop and deploy services that will ensure success.


STABLECOIN SHOP

The StableCoin Shop is currently in development and will provide you an outlet through which to spend your coins. Gift cards, Steam games, and other digitally deliverable items will be offered for sale initially. Long term plans include Amazon.com integration, allowing you to order any item off of there. We plan on launching the shop sometime after release, after the market plays out and determines what each StableCoin is worth.

More information: https://bitcointalk.org/index.php?topic=235287.0


COIN MIXING SERVICE

Bitcoin is a relatively anonymous protocol, but there are still several ways to track the flow of coins and make associations. Thus, we plan on launching a free coin mixing service for StableCoin to make it the most anonymous coin out there. For example, a user can send in 1000 coins, and receive back 1000 completely different coins. This will be done in daily batches and in such a way that ensures complete anonymity. An amount (0.5% of total coins) has been created by us to act as the  basis for this service. A small amount of these coins may be used for giveaways and bounties, as the community sees fit.

It will also be possible to use this service to send coins anonymously. The benefits of that should be obvious.

FAIR LAUNCH

In addition to a 12 hour preannouncement, StableCoin will use the fairest scaling reward system of any coin so far to ensure the fairest launch possible. This is to ensure that early miners do not have an advantage over join late. Our goal is to not have a disproportionate amount of coins created within the first 24 hours. Mined blocks will mature after 35 blocks.

Block 0-90        0 coins
Block 90-180     1 coins
Block 180-270   2 coins
Block 270-360   3 coins
Block 360-450   6 coins
Block 450-540   8 coins
Block 540-630   12 coins
Block 630-720   15 coins
Block 720-810   18 coins
Block 810-900   22 coins
Block 900+       25 coins

RELEASE - VERSION 1.2

Windows Client: https://github.com/stablecoin/stablecoin-qt/archive/master.zip

GitHub: https://github.com/stablecoin/StableCoin

[artos]

INITIAL SETUP

Create a file called stablecoin.conf and place it in C:\users\YOURNAME\appdata\roaming\stablecoin and fill it with the following:

Code:

rpcuser=username
rpcpassword=password
server=1
daemon=1
addnode=198.143.188.42
addnode=113.162.188.201
addnode=203.59.132.204
addnode=86.22.130.144
addnode=59.167.189.49
addnode=72.84.189.238
addnode=85.217.147.117

P2P Port is 17500. If you have issues connecting to the network, forward this port.
RPC Port is 17501. This is the port you will point your miner at when solo mining.

MINING

Pushpools are available for your usage:

http://silverwolf.ath.cx/sbc/
http://swmining.mine.nu/sbc
http://sbc.ub3rl33t.com
http://stc.coinmine.pl (stratum only)
http://stablecoin.miningpool.co/

P2Pools are also available:

http://coinminer.net:17777/static/ - Fee unknown
http://23.21.160.166:9500/static/ - Fee 1%
http://www.play4.co.uk/ - 1% fee

USEFUL SERVICES

Block explorer: http://coinminer.net:2750/chain/StableCoin
Faucet: http://stablecoin.me.ly/

MEDIA

Help raise StableCoin awareness by using one of the following avatars

       

[artos]

Reserved

[MineDMC]

Reserved

[imperatron]

Reserved

[mebezac]

Not that much different, but if you don't screw up the release, could be one of the rare "fair releases" without instamine.

[UniversalTrek]

More shit thatll die day after tomorrow.. no different... pass

[noel]

worth a look

[worldinacoin]

40 seconds will be extremely fast!  Really testing the coin.  Will try to mine some at GMT 1700 hrs.

[mebezac]

Are you going to be releasing windows binaries?

[artos]

Are you going to be releasing windows binaries?

Yes, binaries and source code will be posted at 17:00 GMT.

[FiiNALiZE]

Reserved. Looks good

[Charles999]

Looks real crappy.. Could be the worst of the bunch.  Hope there's no virus in your Windows Binaries. Cuz I will call you out!!

[Hazard]

You have my attention

[Mr.V]

I think its pretty solid, I wish I could mine this coin I like the 40sec block time, and ascending block rewards fuck I gotta get a rig already

[boogerthe2nd]

An amount (0.5% of total coins) has been created by us to act as the  basis for this service. A small amount of these coins may be used for giveaways and bounties, as the community sees fit.

What do you mean by this? So you will already have 1.25m coins from the getgo to provide this 'service'?

[Mr.V]

An amount (0.5% of total coins) has been created by us to act as the  basis for this service. A small amount of these coins may be used for giveaways and bounties, as the community sees fit.

What do you mean by this? So you will already have 1.25m coins from the getgo to provide this 'service'?

I don't mine a pre-mine if they use it to develop the coins. Also nobody should do this for free so some douch bag with plenty of hashing power can get rich off of the developers hard work.

[aa]

I haven't mined any coins yet, but from what I can tell, this coin's release is excellent. Less than 1800 blocks at 0100EST on the 8th and diff is already 2.3x. Looks like there's quite a bit of hash on this coin (over 200Mh/s). I'm going to throw a couple of rigs at it and see how it goes.

[artos]

An amount (0.5% of total coins) has been created by us to act as the  basis for this service. A small amount of these coins may be used for giveaways and bounties, as the community sees fit.

What do you mean by this? So you will already have 1.25m coins from the getgo to provide this 'service'?

A pool of "clean" coins is necessary for a service like this to work. Coins will be processed in a FILO (first in last out) fashion to ensure maximum anonymity. It will also be possible to use this service to send coins anonymously, the benefits of which should be obvious. It will be one of the core services that will set StableCoin apart from the competition.

All funds will be stored in a transparent fashion, fully accounted for, and traceable through a block explorer.

[mastadonballs]

great research and presentation, but name sucks... the name itself will be the end of the coin.