【ANN】◢◣ Swipp ◢◣ Modern cryptocurrency ● X11 ● POW/POS ● Masternodes

[PotatoM12]

Is masternode POW rewards working already?
If not just copy the code from Magnet (its a x11 masternode coin too) 

And while you are at it could you change to a 50% masternode rewards structure? Seems all the coolkids do a 50% masternode   

[teamswipp]

Hello everybody.

I'm going to try to answer everybody in one go.

Network hashrate is currently fluctuating somewhere between 200GH-1TH/s. Lower network hashrate means you get a bigger chunk of the pie if you mine. It will never go to zero, as we in the team have a few miners going as well.

Concerning the wallet. We have decided to bake all the fixes into one release, instead of doing a maintenance one in-between. Twiddler is hoping to get a new wallet released with improved PoS masternode rewards and fixed PoW payouts during this weekend. Again, this also fixes a few other things in the code base and graphical interface. One of the things that we have also done is that we have improved the test suite and implemented a docker image for setting up a local testnet (very important for easy testing of the wallet). The code we inherited had a completely broken test suite that had been disabled. This is also true for 95%+ of all cryptocurrencies out there - they just don't bother fixing it. Then again. why would you if you don't plan on developing the code base? The next release will set a new break block and kick in at a yet undecided block (we will announce it). Twiddler is testing it more thoroughly in a local testnet this time around.

We will not change the reward structure - we feel that the miner/staker doing the actual work should get a majority of the return.

Once we have the wallet released, the introductory post of this ANN will be updated in order to draw in more people (logo and better info). I will then also personally contact Yobit and Bittrex and see if we can get listed at one of these (or both) exchanges.

If you have any issues or tips for improvements on the wallet aside from the above, be sure to post an issue on https://github.com/teamswipp/swippcore/issues. We would love some more activity on the repo. The more active the project and community, the more chance we have to get in on an exchange such as Bittrex.

A somewhat drawn out post, but there you go. Let us know what you think.

Yours, team swipp

[ArsenalFC]

Who can explain me what's wrong? It was being sent more than 3 hours ago and hasn't being recieved yet - https://yadi.sk/i/ocoSI3Ks3PxRAA
Transaction ID is e0292233e5194924bffee047dc2cc1dec823ec5efd68e1ffa6d13f70adcfe9e6

[bitcoinexplorer]

We will not change the reward structure - we feel that the miner/staker doing the actual work should get a majority of the return.
Yours, team swipp

Don't change the reward but explain this.

Miner = the one who mines , deserves the reward - good
Staker = just keeps money in wallet and stake- gets interest
Masternode = Run a VPS and also submit a collateral as security ensuring that it keep running the VPS to serve as a node to service the network. = How come its not doing the actual work?

I really need to understand this, so please explain.

And as always, looking forward to witness swipp become a big coin and get listed on a new exchange asap.
Thanks.

[rewse]

We will not change the reward structure - we feel that the miner/staker doing the actual work should get a majority of the return.
Yours, team swipp

Don't change the reward but explain this.

Miner = the one who mines , deserves the reward - good
Staker = just keeps money in wallet and stake- gets interest
Masternode = Run a VPS and also submit a collateral as security ensuring that it keep running the VPS to serve as a node to service the network. = How come its not doing the actual work?

I really need to understand this, so please explain.

And as always, looking forward to witness swipp become a big coin and get listed on a new exchange asap.
Thanks.

It's a strange situation. I think that masternodes is more important part of network then proofing mechanism. At least both equal and must get comparable rewards.

[canonical]

We will not change the reward structure - we feel that the miner/staker doing the actual work should get a majority of the return.
Yours, team swipp

Don't change the reward but explain this.

Miner = the one who mines , deserves the reward - good
Staker = just keeps money in wallet and stake- gets interest
Masternode = Run a VPS and also submit a collateral as security ensuring that it keep running the VPS to serve as a node to service the network. = How come its not doing the actual work?

I really need to understand this, so please explain.

And as always, looking forward to witness swipp become a big coin and get listed on a new exchange asap.
Thanks.

It's a strange situation. I think that masternodes is more important part of network then proofing mechanism. At least both equal and must get comparable rewards.

+1. I also think it's strange that masternodes are getting a minority of the PoS reward. Running a masternode is a level of dedication above that of staking. What is the incentive and benefit then of locking up your 30k of coins?

Since no one is using SWP as a means of transferring value, it makes sense that miners get a bigger reward than masternode holders, but having masternode holders below stakers is strange.

[bitcoinexplorer]

We will not change the reward structure - we feel that the miner/staker doing the actual work should get a majority of the return.
Yours, team swipp

Don't change the reward but explain this.

Miner = the one who mines , deserves the reward - good
Staker = just keeps money in wallet and stake- gets interest
Masternode = Run a VPS and also submit a collateral as security ensuring that it keep running the VPS to serve as a node to service the network. = How come its not doing the actual work?

I really need to understand this, so please explain.

And as always, looking forward to witness swipp become a big coin and get listed on a new exchange asap.
Thanks.

It's a strange situation. I think that masternodes is more important part of network then proofing mechanism. At least both equal and must get comparable rewards.

+1. I also think it's strange that masternodes are getting a minority of the PoS reward. Running a masternode is a level of dedication above that of staking. What is the incentive and benefit then of locking up your 30k of coins?

Since no one is using SWP as a means of transferring value, it makes sense that miners get a bigger reward than masternode holders, but having masternode holders below stakers is strange.

I suggest that masternodes owner should have ability to accept or filter PoS blocks, personally i won't prefer getting PoS blocks because i don't want to take interest.

From my point of view i am ok with providing collateral of 30K coins without any interest to run the masternode

[anupans]

We will not change the reward structure - we feel that the miner/staker doing the actual work should get a majority of the return.
Yours, team swipp

Don't change the reward but explain this.

Miner = the one who mines , deserves the reward - good
Staker = just keeps money in wallet and stake- gets interest
Masternode = Run a VPS and also submit a collateral as security ensuring that it keep running the VPS to serve as a node to service the network. = How come its not doing the actual work?

I really need to understand this, so please explain.

And as always, looking forward to witness swipp become a big coin and get listed on a new exchange asap.
Thanks.

+1 MN rewards should be the first to fix. Due to it has important task to secure service the network.

[teamswipp]

We will not change the reward structure - we feel that the miner/staker doing the actual work should get a majority of the return.
Yours, team swipp

Don't change the reward but explain this.

Miner = the one who mines , deserves the reward - good
Staker = just keeps money in wallet and stake- gets interest
Masternode = Run a VPS and also submit a collateral as security ensuring that it keep running the VPS to serve as a node to service the network. = How come its not doing the actual work?

I really need to understand this, so please explain.

And as always, looking forward to witness swipp become a big coin and get listed on a new exchange asap.
Thanks.

It's a strange situation. I think that masternodes is more important part of network then proofing mechanism. At least both equal and must get comparable rewards.

+1. I also think it's strange that masternodes are getting a minority of the PoS reward. Running a masternode is a level of dedication above that of staking. What is the incentive and benefit then of locking up your 30k of coins?

Since no one is using SWP as a means of transferring value, it makes sense that miners get a bigger reward than masternode holders, but having masternode holders below stakers is strange.

I suggest that masternodes owner should have ability to accept or filter PoS blocks, personally i won't prefer getting PoS blocks because i don't want to take interest.

From my point of view i am ok with providing collateral of 30K coins without any interest to run the masternode

Hello. As you know, filtering is on the todo list.

Regardless of the way you consider it, PoS or PoW blocks, the masternodes are not the ones that "find" the blocks. Masternodes are just network nodes guranateed to be online. Also, PoS reward t is very minor compared to what masternodes will get from PoW blocks. Our plan is actually to add better/more ways for masternodes to get paid via services that they will offer wallets. We will announce more info on this eventually. We have a few interesting ideas. When wallets use these services, the masternodes will receive a small percentage.

I might as well share some of the things we had on the discussion table with services that masternodes may offer,

1. Completely anonymous transactions with hidden amounts. Masternodes collaborate and anonymize the transactions, getting a share of the fee paid for the service. This is not darksend, but rather an idea where the funds get temporarily "burnt" and placed in an encrypted block - then later re-introduced by consensus between the masternodes. Question is, can it be implemented in an elegant and secure way without breaking the block chain ?

2. Bounty system managed by masternodes. This would make bounties completely decentralized and managed by masternodes instead of centraly. Masternode owners create bounties which are shared between all masternodes on the network. The masternodes then build consensus and manage amounts for the bounties - also requiring consensus to unlock them and send out payments for completed bounties.

3. Bitcoin / Swipp exchange service. Where each masternode can offer different exchange rates, competing with the other nodes when exchanging currency back and forth. Theoretically, it would even be possible to offer multiple currencies, with Swipp as a base currency. This will require each masternode to hold copies of blockchains from several currencies.

Now, these are ideas with a lot of things to figure out still. They are planned down the road. Some may be implemented, some may not. Once we have worked out more details and made a proper plan, it will be announced on the roadmap. Community feedback is also welcome - that way you can steer us in a certain direction.

Yours, team swipp

[10000BTC]

What problem is your coin yet to solve? there are so many coins out there, what is so unique about your coin?

or is just here to add up to the number.

[canonical]

"Also, PoS reward t is very minor compared to what masternodes will get from PoW blocks."

Ah. From your previous message it sounded like you abandoning PoW master mode rewards and keeping it at just 40% of PoS, hehe my confusion and I think the confusion of done others that commented.

Interesting ideas for new features for the coin. Great to hear 👍

[teamswipp]

What problem is your coin yet to solve? there are so many coins out there, what is so unique about your coin?

or is just here to add up to the number.

The main motivation for us is to further develop the blockchain, add improvements and just do things better than everybody else. We are developers, not traders.

As previously stated, we plan to add many unique features and improvements. You can follow development here;

https://github.com/teamswipp/swippcore

We are one of few cryptocurrencies with an active git repository. .

Also, If anybody has an interesting idea that you think may be right for Swipp - please create an issue on the GitHub repo. We will consider them all.

Yours, team swipp

[teamswipp]

"Also, PoS reward t is very minor compared to what masternodes will get from PoW blocks."

Ah. From your previous message it sounded like you abandoning PoW master mode rewards and keeping it at just 40% of PoS, hehe my confusion and I think the confusion of done others that commented.

Interesting ideas for new features for the coin. Great to hear 👍

Ah.. I see. Yes, you are right, I can see how it might have been confusing.

So to completely clear it up, Masternodes will be receiving 40% of all new generated blocks (PoS & PoW) with the next update . Twiddler is testing everything - we don't want to stuff it up and miss something.

Yours, team swipp

[rewse]

3. Bitcoin / Swipp exchange service. Where each masternode can offer different exchange rates, competing with the other nodes when exchanging currency back and forth. Theoretically, it would even be possible to offer multiple currencies, with Swipp as a base currency. This will require each masternode to hold copies of blockchains from several currencies.

It's interesting idea. But it requires not only copies of blockchain, you need to freeze coins for future exchanges on some wallets.

[bitcoinexplorer]

"Also, PoS reward t is very minor compared to what masternodes will get from PoW blocks."

Ah. From your previous message it sounded like you abandoning PoW master mode rewards and keeping it at just 40% of PoS, hehe my confusion and I think the confusion of done others that commented.

Interesting ideas for new features for the coin. Great to hear 👍

Ah.. I see. Yes, you are right, I can see how it might have been confusing.

So to completely clear it up, Masternodes will be receiving 40% of all new generated blocks (PoS & PoW) with the next update . Twiddler is testing everything - we don't want to stuff it up and miss something.

Yours, team swipp

You are aware i support SWIPP Team since start and have no issues over %payout , what i believe is it MUST be successful. And ability for masternodes to reject PoS blocks.

Thank you for your good work, keep it up 

[ihackcoinz]

Going to try and mine some SWIPP.  Just downloaded wallet - it's taking awhile to synchronizing, do you guys have addnodes suggestion?

[ihackcoinz]

also u guys desperately need discord if dont have already

[bitcoinexplorer]

also u guys desperately need discord if dont have already

Discord https://discord.gg/ZHVVjdZ

[bitcoinexplorer]

Hello TeamSwipp

You are a passionate and hardworking team but time is running and many others coins are surfacing as well. I am surprised that just a 6 days old coin is trading at 0.00067 BTC and also listed at Cryptopia, its also a X11 Coin (PoW/PoS like SWIPP)

You guys need to speed up things and create activity in discord channel, also it is must to go to a reputable exchange asap.

thanks

[canonical]

Hello TeamSwipp

You are a passionate and hardworking team but time is running and many others coins are surfacing as well. I am surprised that just a 6 days old coin is trading at 0.00067 BTC and also listed at Cryptopia, its also a X11 Coin (PoW/PoS like SWIPP)

You guys need to speed up things and create activity in discord channel, also it is must to go to a reputable exchange asap.

thanks

Are you contributing to the development of the coin?