[ANN] Announcing Galaxycoin - GLX, the new PoW/PoS coin, no premine!

[arlington]

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 **)

[arlington]

reserve

[arlington]

reserve

[flyingcat]

wow, a new one

[Vivisector999]

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

[number37]

no premine, i like it

[TheSpiral]

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

[dreamhouse]

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

[arlington]

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]

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

or really big interests there?

[TheSpiral]

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

[thisnewcoin]

I never like pow/pos, don't understand how the diff is re-targeted. Can't mine it, sucks.

[iGotSpots]

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]

$ ./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.

[iGotSpots]

$ ./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

[dreamhouse]

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

[JohnLuc]

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.

[HuuHachu]

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.

[TheSpiral]

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.

[arlington]

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.