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

[bitcoinexplorer]

Hi guys. We have extended the roadmap on the web site with two features that we now for sure plan to implement;

http://www.swippcoin.com/

Implement masternode-backed bounty system.
This implementation is intended to facilitate the future development of the Swipp cryptocurrency.
Masternodes will be in charge of creating new bounties and governing the bounty-fund which will be replenished using Swipp generated via newly created PoS and PoW blocks. Our initial plan is to allocate 5% of all the new currency generated on the network to the bounty-fund.
A web portal will be developed that will be hosted and synced between the masternodes, creating a fully decentralized system where users can create new bounties, apply for bounties and claim bounty rewards.

Implement masternode-hosted web wallet (with mobile support).
A completely decentralized wallet solution hosted by the masternodes of the Swipp network. After registering and creating a wallet, users will be able to deposit and withdraw funds directly via a web interface served by the masternodes.

Yours, team swipp

Good work teamswipp, rest assured i and the community is with you. Lets show the cryptouniverse power of SWIPP 

[canonical]

Hi guys. We have extended the roadmap on the web site with two features that we now for sure plan to implement;

http://www.swippcoin.com/

Implement masternode-backed bounty system.
This implementation is intended to facilitate the future development of the Swipp cryptocurrency.
Masternodes will be in charge of creating new bounties and governing the bounty-fund which will be replenished using Swipp generated via newly created PoS and PoW blocks. Our initial plan is to allocate 5% of all the new currency generated on the network to the bounty-fund.
A web portal will be developed that will be hosted and synced between the masternodes, creating a fully decentralized system where users can create new bounties, apply for bounties and claim bounty rewards.

Implement masternode-hosted web wallet (with mobile support).
A completely decentralized wallet solution hosted by the masternodes of the Swipp network. After registering and creating a wallet, users will be able to deposit and withdraw funds directly via a web interface served by the masternodes.

Yours, team swipp

The masternode-backed bounty system is much better than what I proposed and a nice way to combine governance and funding together. Great stuff.

[2bfree]

Do we really need another masternode coin? How many do we already have?

[canonical]

Do we really need another masternode coin? How many do we already have?

No harm in focussing just on BTC and the major alts if that appeals to you more.

[witch]

I operate a small linux vps and plan to stake your coins. There is no gui available. Is it also possible to stake the coins without a gui wallet?

[teamswipp]

Do we really need another masternode coin? How many do we already have?

Hello.

This is not just "another masternode coin". We are developing features and plan on using the masternodes in a way that has not been done so far. Our intention is to make Swipp the first masternode-enabled cryptocurrency to actually take advantage of the masternodes on the network.

The features planned will make Swipp completely unique. Please review the rest of this thread, our roadmap and our GitHub repo;

http://www.swippcoin.com/
https://github.com/teamswipp/swippcore

Yours, team swipp

[teamswipp]

I operate a small linux vps and plan to stake your coins. There is no gui available. Is it also possible to stake the coins without a gui wallet?

Yes, I think you should be able to stake with the console version as well. Just start an instance of swippd, then, running it a second time, you can do;

"swippd getstakinginfo", in order to get information about the staking process.

Yours, team swipp

[teamswipp]

Hi erverybody. New wallet release is approaching. We will be setting a break to the next version at block 125 000. Watch this thread closely in the next few days. Masternode payments will be significantly higher with this release. As before, anybody that has not updated once we reach 125 000, will be on a obsolete chain.

I also want to give everybody a heads up concerning planned changes to masternode payment distribution. These change will not be part of this update, but the next one after that:

1. Running several masternodes on the same IP under different ports will no longer be allowed - this does not benefit the network in any way. Masternodes will simply not be accepted onto the network if a similar node with the same IP is already present.

2. If there are many masternodes in a certain geographical area competing for payouts, these will receive less than a masternode which has less competition in it' area. It will also depend on the traffic. As we are planning to host services on the masternodes, we want the masternode network to be fast and responsive, with masternodes preferably being placed where they can benefit the network the most.

Yours, team swipp

[bitcoinexplorer]

Hi erverybody. New wallet release is approaching. We will be setting a break to the next version at block 125 000. Watch this thread closely in the next few days. Masternode payments will be significantly higher with this release. As before, anybody that has not updated once we reach 125 000, will be on a obsolete chain.

I also want to give everybody a heads up concerning planned changes to masternode payment distribution. These change will not be part of this update, but the next one after that:

1. Running several masternodes on the same IP under different ports will no longer be allowed - this does not benefit the network in any way. Masternodes will simply not be accepted onto the network if a similar node with the same IP is already present.

2. If there are many masternodes in a certain geographical area competing for payouts, these will receive less than a masternode which has less competition in it' area. It will also depend on the traffic. As we are planning to host services on the masternodes, we want the masternode network to be fast and responsive, with masternodes preferably being placed where they can benefit the network the most.

Yours, team swipp

Good work.

[simon_ngo]

Hi erverybody. New wallet release is approaching. We will be setting a break to the next version at block 125 000. Watch this thread closely in the next few days. Masternode payments will be significantly higher with this release. As before, anybody that has not updated once we reach 125 000, will be on a obsolete chain.

I also want to give everybody a heads up concerning planned changes to masternode payment distribution. These change will not be part of this update, but the next one after that:

1. Running several masternodes on the same IP under different ports will no longer be allowed - this does not benefit the network in any way. Masternodes will simply not be accepted onto the network if a similar node with the same IP is already present.

2. If there are many masternodes in a certain geographical area competing for payouts, these will receive less than a masternode which has less competition in it' area. It will also depend on the traffic. As we are planning to host services on the masternodes, we want the masternode network to be fast and responsive, with masternodes preferably being placed where they can benefit the network the most.

Yours, team swipp

Great.
Hope this update will make successful for Swipp

[fusionfoto]

Hello everybody.

To be honest, the idea of a dev-fee with funds going to an address controlled by us, personally makes me very nervous. So I am personally agreeing with @fusionfoto on this one.

That being said, instead of a "dev-fee", we have talked about a bounty system governed by the masternodes. Basically, we are thinking that we allocate maybe 5% of all newly generated coins to this bounty fund - the masternodes can then issue new bounties and allocate rewards..... A bounty is only enabled once a certain number of masternodes all agree upon it. The same goes for payment of the bounty - a certain amount of masternodes need to reach consensus before it is paid out. Anybody will be able to apply for the bounties (the current core dev team included).

The vision of this kind of governance is real. If you want the coin to last more than a few years and support the concept of larger scale adoption, some sort of stake-based governance is real. I think Dash has something similar. I think representing bounties in the blockchain is still up in the air a bit, but I think that with all of the ways to use the blockchain to send messaging, etc, there is a real way to build and manage consensus.

Fusion

[fusionfoto]

Hi erverybody. New wallet release is approaching. We will be setting a break to the next version at block 125 000. Watch this thread closely in the next few days. Masternode payments will be significantly higher with this release. As before, anybody that has not updated once we reach 125 000, will be on a obsolete chain.

I also want to give everybody a heads up concerning planned changes to masternode payment distribution. These change will not be part of this update, but the next one after that:

1. Running several masternodes on the same IP under different ports will no longer be allowed - this does not benefit the network in any way. Masternodes will simply not be accepted onto the network if a similar node with the same IP is already present.

2. If there are many masternodes in a certain geographical area competing for payouts, these will receive less than a masternode which has less competition in it' area. It will also depend on the traffic. As we are planning to host services on the masternodes, we want the masternode network to be fast and responsive, with masternodes preferably being placed where they can benefit the network the most.

Yours, team swipp

While making masternodes meaningful is valuable, how will distance/proximity be determined? I can buy an MN in my basement and create 40 ms between it and the rest of the world and be rewarded because I appear to be far away from all of the other MNs.

Separately, forcing MNs to not share physical hosts is not a bad idea. It will penalize hosters like Vultr -- who, while they may be on different IPs, aren't necessarily going to be far from each other.

The logical resolution of this distance issue is that instead of using hosters, people will host MNs on their residential internet connections and universities ... which improves diversity at the sacrifice of resilience.

Fusion

[fusionfoto]

With the new swipp wallet, don't forget to update for this issue:

https://github.com/bitcoin/bitcoin/issues/7086

I'll be happy to test build it on Raspberry Pi (which easily exercises the issue) as a beta tester if you'd like.

Fusion

[teamswipp]

With the new swipp wallet, don't forget to update for this issue:
https://github.com/bitcoin/bitcoin/issues/7086

I'll be happy to test build it on Raspberry Pi (which easily exercises the issue) as a beta tester if you'd like.

Fusion

Thank you for all the feedback @Fusion.

To clear up some of your questions;

Masternode distance/proximity between masternodes will be determined using a combination of geoip localization and simple tracerouting. At some point, this feature was discussed and planned in DASH but never got implemented.

We are aware of the issue discussed in https://github.com/bitcoin/bitcoin/issues/7086. This is caused by an API change between OpenSSL1.1/OpenSSL2. We plan to update the code base to SSL2 at a later point. For now (while there are some more pressing things to handle), SSL1.1 works just fine. That being said, pull requests are always welcome if anybody would like a crack at it.

When it comes to the bounty system - DASH (and a few other currencies) have a voting system where masternodes can vote on different proposals. It's still very centralized and requires the core development team to handle all the funds. We want to take it one step further and completely decentralize the process.

Comcerning test building, the whole development team currently consists of Linux nerds, so what we really need is a Windows and/or OS X maintainer.

Yours, team swipp

[Sonanh1234]

Hi erverybody. New wallet release is approaching. We will be setting a break to the next version at block 125 000. Watch this thread closely in the next few days. Masternode payments will be significantly higher with this release. As before, anybody that has not updated once we reach 125 000, will be on a obsolete chain.

I also want to give everybody a heads up concerning planned changes to masternode payment distribution. These change will not be part of this update, but the next one after that:

1. Running several masternodes on the same IP under different ports will no longer be allowed - this does not benefit the network in any way. Masternodes will simply not be accepted onto the network if a similar node with the same IP is already present.

2. If there are many masternodes in a certain geographical area competing for payouts, these will receive less than a masternode which has less competition in it' area. It will also depend on the traffic. As we are planning to host services on the masternodes, we want the masternode network to be fast and responsive, with masternodes preferably being placed where they can benefit the network the most.

Yours, team swipp

i set up masternode when 20k/node. i receive 60swp/day
then i set up masternode when 30k/node. i receive 48swp/day

the roi is very small
hope something new

[teamswipp]

Hi erverybody. New wallet release is approaching. We will be setting a break to the next version at block 125 000. Watch this thread closely in the next few days. Masternode payments will be significantly higher with this release. As before, anybody that has not updated once we reach 125 000, will be on a obsolete chain.

I also want to give everybody a heads up concerning planned changes to masternode payment distribution. These change will not be part of this update, but the next one after that:

1. Running several masternodes on the same IP under different ports will no longer be allowed - this does not benefit the network in any way. Masternodes will simply not be accepted onto the network if a similar node with the same IP is already present.

2. If there are many masternodes in a certain geographical area competing for payouts, these will receive less than a masternode which has less competition in it' area. It will also depend on the traffic. As we are planning to host services on the masternodes, we want the masternode network to be fast and responsive, with masternodes preferably being placed where they can benefit the network the most.

Yours, team swipp

i set up masternode when 20k/node. i receive 60swp/day
then i set up masternode when 30k/node. i receive 48swp/day

the roi is very small
hope something new

Hi.

Indeed. The staking rewards in Swipp are lower now (they decreased from 5 to 3 Swipp at block 93 000. The next decrease in staking rewards is at block 200 000 - it will then go to 2 Swipp per block.

With those figures, your ROI is 58.4% which isn't all that bad. Currencies with 500%+ or several thousand percent in ROI have no future. Our focus is to build something long-term.

Nevertheless, the situation will improve with the next wallet release, as masternodes will receive PoW blocks also. The ROI will jump to roughly 350-450% after this change. This will make Swipp one of the more profitable masternode coins... However, more masternodes will then likely open, so returns will probably go down slightly as they do. We are preparing the next wallet release, so keep an eye on this thread.

Yours, team swipp

[Sonanh1234]

Hi erverybody. New wallet release is approaching. We will be setting a break to the next version at block 125 000. Watch this thread closely in the next few days. Masternode payments will be significantly higher with this release. As before, anybody that has not updated once we reach 125 000, will be on a obsolete chain.

I also want to give everybody a heads up concerning planned changes to masternode payment distribution. These change will not be part of this update, but the next one after that:

1. Running several masternodes on the same IP under different ports will no longer be allowed - this does not benefit the network in any way. Masternodes will simply not be accepted onto the network if a similar node with the same IP is already present.

2. If there are many masternodes in a certain geographical area competing for payouts, these will receive less than a masternode which has less competition in it' area. It will also depend on the traffic. As we are planning to host services on the masternodes, we want the masternode network to be fast and responsive, with masternodes preferably being placed where they can benefit the network the most.

Yours, team swipp

i set up masternode when 20k/node. i receive 60swp/day
then i set up masternode when 30k/node. i receive 48swp/day

the roi is very small
hope something new

Hi.

Indeed. The staking rewards in Swipp are lower now (they decreased from 5 to 3 Swipp at block 93 000. The next decrease in staking rewards is at block 200 000 - it will then go to 2 Swipp per block.

With those figures, your ROI is 58.4% which isn't all that bad. Currencies with 500%+ or several thousand percent in ROI have no future. Our focus is to build something long-term.

Nevertheless, the situation will improve with the next wallet release, as masternodes will receive PoW blocks also. The ROI will jump to roughly 350-450% after this change. This will make Swipp one of the more profitable masternode coins... However, more masternodes will then likely open, so returns will probably go down slightly as they do. We are preparing the next wallet release, so keep an eye on this thread.

Yours, team swipp

i always keep my eyes in this project. but remember total node now is 23. roi is 35% when  total node is 230

[simon_ngo]

Hi erverybody. New wallet release is approaching. We will be setting a break to the next version at block 125 000. Watch this thread closely in the next few days. Masternode payments will be significantly higher with this release. As before, anybody that has not updated once we reach 125 000, will be on a obsolete chain.

I also want to give everybody a heads up concerning planned changes to masternode payment distribution. These change will not be part of this update, but the next one after that:

1. Running several masternodes on the same IP under different ports will no longer be allowed - this does not benefit the network in any way. Masternodes will simply not be accepted onto the network if a similar node with the same IP is already present.

2. If there are many masternodes in a certain geographical area competing for payouts, these will receive less than a masternode which has less competition in it' area. It will also depend on the traffic. As we are planning to host services on the masternodes, we want the masternode network to be fast and responsive, with masternodes preferably being placed where they can benefit the network the most.

Yours, team swipp

i set up masternode when 20k/node. i receive 60swp/day
then i set up masternode when 30k/node. i receive 48swp/day

the roi is very small
hope something new

Hi.

Indeed. The staking rewards in Swipp are lower now (they decreased from 5 to 3 Swipp at block 93 000. The next decrease in staking rewards is at block 200 000 - it will then go to 2 Swipp per block.

With those figures, your ROI is 58.4% which isn't all that bad. Currencies with 500%+ or several thousand percent in ROI have no future. Our focus is to build something long-term.

Nevertheless, the situation will improve with the next wallet release, as masternodes will receive PoW blocks also. The ROI will jump to roughly 350-450% after this change. This will make Swipp one of the more profitable masternode coins... However, more masternodes will then likely open, so returns will probably go down slightly as they do. We are preparing the next wallet release, so keep an eye on this thread.

Yours, team swipp

i always keep my eyes in this project. but remember total node now is 23. roi is 35% when  total node is 230

Actually, we only have 17 master nodes alive and 07 MN dead at this moment

[Sonanh1234]

Hi erverybody. New wallet release is approaching. We will be setting a break to the next version at block 125 000. Watch this thread closely in the next few days. Masternode payments will be significantly higher with this release. As before, anybody that has not updated once we reach 125 000, will be on a obsolete chain.

I also want to give everybody a heads up concerning planned changes to masternode payment distribution. These change will not be part of this update, but the next one after that:

1. Running several masternodes on the same IP under different ports will no longer be allowed - this does not benefit the network in any way. Masternodes will simply not be accepted onto the network if a similar node with the same IP is already present.

2. If there are many masternodes in a certain geographical area competing for payouts, these will receive less than a masternode which has less competition in it' area. It will also depend on the traffic. As we are planning to host services on the masternodes, we want the masternode network to be fast and responsive, with masternodes preferably being placed where they can benefit the network the most.

Yours, team swipp

i set up masternode when 20k/node. i receive 60swp/day
then i set up masternode when 30k/node. i receive 48swp/day

the roi is very small
hope something new

Hi.

Indeed. The staking rewards in Swipp are lower now (they decreased from 5 to 3 Swipp at block 93 000. The next decrease in staking rewards is at block 200 000 - it will then go to 2 Swipp per block.

With those figures, your ROI is 58.4% which isn't all that bad. Currencies with 500%+ or several thousand percent in ROI have no future. Our focus is to build something long-term.

Nevertheless, the situation will improve with the next wallet release, as masternodes will receive PoW blocks also. The ROI will jump to roughly 350-450% after this change. This will make Swipp one of the more profitable masternode coins... However, more masternodes will then likely open, so returns will probably go down slightly as they do. We are preparing the next wallet release, so keep an eye on this thread.

Yours, team swipp

i always keep my eyes in this project. but remember total node now is 23. roi is 35% when  total node is 230

Actually, we only have 17 master nodes alive and 07 MN dead at this moment

can you check my mn??? 123.24.59.189:24055 is it still alive?
17 mn = 450%... what about 300mn

[MadStuntman]

windows version 2.0.2 shows that i need 20.000 for a masternode. did i miss something???