New Hashing Algorithms

[Chaoskampf]

Is there anyone working on a coin with a new hashing algorithm? SHA256 and scrypt have been thoroughly exploited in the last couple months. I'm by no means an expert in cryptography, but I've been looking into different properties of hash functions. Would there be any benefit to RIPEMD-320 over our other 2 favorites?

[JohnyBigs]

Is there anyone working on a coin with a new hashing algorithm? SHA256 and scrypt have been thoroughly exploited in the last couple months. I'm by no means an expert in cryptography, but I've been looking into different properties of hash functions. Would there be any benefit to RIPEMD-320 over our other 2 favorites?

try eMunie

[eddyfitz]

I'd really like to see more *completely* different altcoins. like emunie

[mercSuey]

I'd really like to see more *completely* different altcoins. like emunie

Problem with new algos is confidence in security and integrity of the network.  It will take time for EMU to gain the confidence that SHA256 and Scrypt has.  Plus, I'm pretty sure there's an exploit waiting to be discovered/used.  I personally have dozens of Amazon EC2 cores ready to own that coin.  And when I say 'own' I mean that perjoratively. 

[Chaoskampf]

Is there anyone working on a coin with a new hashing algorithm? SHA256 and scrypt have been thoroughly exploited in the last couple months. I'm by no means an expert in cryptography, but I've been looking into different properties of hash functions. Would there be any benefit to RIPEMD-320 over our other 2 favorites?

try eMunie

I just signed up for the beta, but haven't gotten an email yet. I'm probably too late? The counters were at 0.

[eddyfitz]

Is there anyone working on a coin with a new hashing algorithm? SHA256 and scrypt have been thoroughly exploited in the last couple months. I'm by no means an expert in cryptography, but I've been looking into different properties of hash functions. Would there be any benefit to RIPEMD-320 over our other 2 favorites?

try eMunie

I just signed up for the beta, but haven't gotten an email yet. I'm probably too late? The counters were at 0.

go and sign up on their forum: http://forum.emunie.com

[Chaoskampf]

So what exactly is the advancement that eMunie offers?

[forsetifox]

I'm in the beta and right now it's not too interesting. We literally have a client with 3 buttons and 2 fields. Your total is in the amount of a sentence IE "You have 1.011 Emunie to use!".

Also I have no clue how money gets created but right now it looks like it all comes from the Emunie people themselves.

I really have no idea why people are so excited about it.  

[Chaoskampf]

I'm in the beta and right now it's not too interesting. We literally have a client with 3 buttons and 2 fields. Your total is in the amount of a sentence IE "You have 1.011 Emunie to use!".

Also I have no clue how money gets created but right now it looks like it all comes from the Emunie people themselves.

I really have no idea why people are so excited about it.  

From what I gather it doesn't seem like there's very much innovation here. Maybe this is my ignorance speaking, but nothing in the forum tells me that there's any substantive advancement within eMunie.


so.....any other hashing algorithm advances I should know about? maybe some that are actually legitimately new and of some distinct quality?

[forsetifox]

I might be wrong but a coin that uses a similar scheme to what Yacoin or Onecoin uses.

A locked N factor of 12 might work well. With an N factor of 12 it should be very hostile to GPU/ FPGA/ ASICs.

http://yacexplorer.tk/graphs.htm#tech

[Visin]

I'm in the beta and right now it's not too interesting. We literally have a client with 3 buttons and 2 fields. Your total is in the amount of a sentence IE "You have 1.011 Emunie to use!".

Also I have no clue how money gets created but right now it looks like it all comes from the Emunie people themselves.

I really have no idea why people are so excited about it.  

lol. Obviously you have no clue what separates the btc clones from eMunie then. I really don't want to explain all the advancements over every coin that you have seen before, but feel free to stick with your 51%-able coins, we will be relaxing on our side

If you have any constructive questions like normal people, please feel free to ask. We may be in a good mood

[forsetifox]

I'm in the beta and right now it's not too interesting. We literally have a client with 3 buttons and 2 fields. Your total is in the amount of a sentence IE "You have 1.011 Emunie to use!".

Also I have no clue how money gets created but right now it looks like it all comes from the Emunie people themselves.

I really have no idea why people are so excited about it.  

lol. Obviously you have no clue what separates the btc clones from eMunie then. I really don't want to explain all the advancements over every coin that you have seen before, but feel free to stick with your 51%-able coins, we will be relaxing on our side

If you have any constructive questions like normal people, please feel free to ask. We may be in a good mood

Sure. Where does the currency come from? How does it come into existence?

[Visin]

I'm in the beta and right now it's not too interesting. We literally have a client with 3 buttons and 2 fields. Your total is in the amount of a sentence IE "You have 1.011 Emunie to use!".

Also I have no clue how money gets created but right now it looks like it all comes from the Emunie people themselves.

I really have no idea why people are so excited about it.  

lol. Obviously you have no clue what separates the btc clones from eMunie then. I really don't want to explain all the advancements over every coin that you have seen before, but feel free to stick with your 51%-able coins, we will be relaxing on our side

If you have any constructive questions like normal people, please feel free to ask. We may be in a good mood

Sure. Where does the currency come from? How does it come into existence?

Hatchers clear transaction and by doing so perform work.  This work can be calculated from the public ledger.  Every how, all the nodes in the system vote whether to create 60 new EMU. 

If the vote is a yes, 48 EMU are created and distributed to the Hatchers proportional to the work they did in the past hour, the remaining 12 EMU is distrubited using a proof-of-stake method to all other accounts in the system.

[markm]

I might be wrong but a coin that uses a similar scheme to what Yacoin or Onecoin uses.

A locked N factor of 12 might work well. With an N factor of 12 it should be very hostile to GPU/ FPGA/ ASICs.

http://yacexplorer.tk/graphs.htm#tech

Both are already mined on gpus since day 3 of launch iirc.....

Also it looks like they are designed to give massive numbers of coins to the early GPU users initially then maybe eventually lock out competing GPUs leaving those early GPU people with massive haords in case someday the things do actually become valuable.

As GPUs advance 12 might not continue to block them out so maybe it would be better to start at 14 or more especially if going with a fixed forever value?

Still in the long run wouldn't they just end up as botnet coins? And because they are mined with general purpose equipment, very hard to secure since it is hard to have more general purpose equipment than the rest of the world has? Even with scrypt it might be too hard to have more hashing power than the rest of the world has if FPGAs and ASICs cannot really do a whole lot better than GPUs, so the classic merged-mined SHA256 coins (including bitcoin) look better to me every day.

-MarkM-