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Author Topic: [ANN] Announcing Galaxycoin - GLX, the new PoW/PoS coin, no premine!  (Read 99908 times)
arlington
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July 08, 2013, 06:21:36 AM
 #1



Version 1.3 is released (download links updated). It added more checkpoints so the client will be more secure. This is not a mandatory upgrade, but you are still encouraged to upgrade to get a more secure version.


Announcing galaxycoin - GLX, the latest and innovative PoW/PoS coin! Fair start with zero premined!

Galxycoin is a descedant of Novacoin, it uses both Proof of Work and Proof of Stake. It is effectively resistent to 51% attack. It provides steady coin supply at 64 coins per block, for 8 years. The difficulty retargeted each block, with the last 10 blocks average, this ensures a fast adjustment to the network hashrate, while maintaining a stable transition. The total coins mined will be 538,214,400 coins.

Galaxycoin has a fair start and zero premined, making it one of the best of the alt coins exist today.


Specifications:
- Proof of work/proof of stake
- Scrypt
- 30 seconds block time
- 64 coins per block
- Retarget every block using last 10 blocks average
- Trade confirmation: 3
- Mint confirmation: 50
- Total number of coins 538,214,400 (8 Years)
- fair start, no premine
- port: Connection 15521 and RPC Port 15522




Exchange:

Cryptsy.com:
https://www.cryptsy.com/markets/view/78

Coins-e.com:
https://www.coins-e.com/exchange/GLX_BTC/



Mining Pool:

Feeleep's Stratum pool:
http://glx.coinmine.pl
Stratum Port: 9106


Blockchain explorer (thanks to diatonic):

http://glx.webboise.com:2790/chain/Galaxycoin



Download (version 1.3):

Windows Client Download:
https://mega.co.nz/#!Z94niaaK!g4FoHAHyoaB6oZ3zRYM38FJsBFNaOknd-qn4cTlLej8



Source Code Download:

https://github.com/galaxycoin/galaxycoin



Sample galaxycoin.conf:

listen=1
daemon=1
server=1
rpcuser=**Yourusername**
rpcpassword=**Yourpassword**
rpcport=15522
rpcconnect=127.0.0.1
addnode=107.203.9.69
addnode=139.228.150.13
addnode=113.162.172.225
addnode=72.133.203.38


Getting Started:

1. Start up galaxycoin-qt, wait for it to load, then exit.
2. Put galaxycoin.conf (see sample file above) in your c:/users/**yourcomputername**/AppData/Roaming/galaxycoin
3. restart galaxycoin-qt, and you should connect and sync.
4. For solo mining, launch cgminer or the mining program you use and begin mining.
      cgminer ex: cgminer.exe --scrypt -o localhost:15522 -u **yourusername** -p **password** (without **)



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arlington
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July 08, 2013, 06:21:51 AM
 #2

reserve
arlington
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July 08, 2013, 06:22:31 AM
 #3

reserve
flyingcat
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July 08, 2013, 06:24:55 AM
 #4

wow, a new one

Tra

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Vivisector999
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July 08, 2013, 06:33:55 AM
 #5

Wow, Thought it would have SETI application when I saw the name

Check out AC3  @ https://ac3.io/
number37
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July 08, 2013, 06:34:23 AM
 #6

no premine, i like it Smiley
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July 08, 2013, 06:44:11 AM
 #7

Oh no, a coin I can't mine massive amounts on launch Sad
Already over 2 difficulty.
The world is ending!

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dreamhouse
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July 08, 2013, 06:45:05 AM
 #8

wtf, diff shoot up straightly?? can't mine it...

           ▀██▄ ▄██▀
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.....DeepVault.....
....Blockchain File Signatures....
...deeponion.org...
arlington
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July 08, 2013, 06:46:56 AM
 #9

what the heck
{
    "blocks" : 590,
    "currentblocksize" : 1000,
    "currentblocktx" : 0,
    "difficulty" : 2.96225094,
    "networkhashps" : 351376872,
    "errors" : "",
    "pooledtx" : 0,
    "stakepower" : 0,
    "testnet" : false
}

this network hashrate is wrong.... not think of huge fish jumped in?
dreamhouse
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July 08, 2013, 06:48:38 AM
 #10

Is this hash rate for real? the algorithm screwed up? lol

or really big interests there?

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.....DeepVault.....
....Blockchain File Signatures....
...deeponion.org...
TheSpiral
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July 08, 2013, 06:53:07 AM
 #11

Not a bad idea overall, the retarget rate is a bit extreme. Looks interesting aside from that, though Smiley

[Cex.io] - Cheap virtual mining.
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July 08, 2013, 06:56:21 AM
 #12

I never like pow/pos, don't understand how the diff is re-targeted. Can't mine it, sucks.
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July 08, 2013, 06:59:22 AM
 #13

First you guys bitch that coins get mined too fast at launch, now they are coming too slow for you...make up your minds

arlington
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July 08, 2013, 07:00:13 AM
 #14

$ ./galaxycoind.exe getmininginfo
{
    "blocks" : 612,
    "currentblocksize" : 1000,
    "currentblocktx" : 0,
    "difficulty" : 1.51249740,
    "networkhashps" : 187208267,
    "errors" : "",
    "pooledtx" : 0,
    "stakepower" : 0,
    "testnet" : false
}

now is better. But looks like re-target based on the last 10 blocks still cause some oscillations... may need to average more to smooth out.
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July 08, 2013, 07:02:13 AM
 #15

$ ./galaxycoind.exe getmininginfo
{
    "blocks" : 612,
    "currentblocksize" : 1000,
    "currentblocktx" : 0,
    "difficulty" : 1.51249740,
    "networkhashps" : 187208267,
    "errors" : "",
    "pooledtx" : 0,
    "stakepower" : 0,
    "testnet" : false
}

now is better. But looks like re-target based on the last 10 blocks still cause some oscillations... may need to average more to smooth out.

Nothing wrong with that

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July 08, 2013, 07:02:47 AM
 #16

need a pool to mine this, matching network hash rate immediately with the diff is too radical, now I think instamine may make some sense, lol Grin

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DeepOnion      ▄▄██████████▄▄
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    ▀███▄▄       ▄▄███▀
      ▀▀███████████▀▀
.....DeepVault.....
....Blockchain File Signatures....
...deeponion.org...
JohnLuc
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July 08, 2013, 07:24:09 AM
 #17

diff seem oscillate, maybe algorithm is not perfect. In any case only big fishes will get the blocks, small potatoes like myself will need a mining pool.
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July 08, 2013, 07:28:05 AM
 #18

diff retarget is indeed screwed ... I'm wondering if this coin has even been tested before launch ...

diff goes back and forth from ~0.003 to 2.5 every ~20 blocks

Also, target block time (30s) is too short and will cause security problems and instability of the block-chain.

noble: 9mKQpsfLeabjFsPv3YR9zYoAVymDPyfjCp
TheSpiral
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July 08, 2013, 07:37:05 AM
 #19

Hm, yeah. I think a relaunch with a tweaked retarget would be alright. Right now it's going from a cgminer diff of ~500 to a diff of ~69.4k in 40 seconds with 8 blocks found in that span.... it's a huge roller-coaster ride. Seems decent enough besides that, again.

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arlington
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July 08, 2013, 07:39:17 AM
 #20

it's tested, unfortunately we don't have that mining power to test sudden changes of big hashrates.

Yes the diff algorithm is not perfect, it does cause diff to oscillate, however the oscillation is damping, so hopefully it will stablize after the start-time big changes in the hashpower.
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