[ANN][OMBRE] Cryptonote privacy coin

[paololuk]

After 6 hours at 500 H/s only have 5 OMB. Why a newborn coin is so difficult to mine?

It does not matter if a coin is old or new, look at the Network Hashrate when you mine. That is all about

Thank you. I don't dispute this. I'm only skeptic about a coin with one trillion supply with so high difficult and low reward.

[1714050148]

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[1714050148]

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[1714050148]

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[infinitytech]

After 6 hours at 500 H/s only have 5 OMB. Why a newborn coin is so difficult to mine?

It does not matter if a coin is old or new, look at the Network Hashrate when you mine. That is all about

Thank you. I don't dispute this. I'm only skeptic about a coin with one trillion supply with so high difficult and low reward.

It is partly due to a verry good diff algorythm which retagrets diff every block, partly due to alot of miner joining in at the same time, and finally due to our emission schema which is lsow at the beggining then faster then slows down again...

[ninjaskip]

Can't the mixing only be done if enough people want to transact at the same time? If you enforce a higher minimum of mixing rounds, could that lead to waiting times or how does it work?

Hey, essentially, the mixins automatically are routed through existing wallets - they don't need to necessarily be running a transaction at the same time.

However, you are correct, enforcing a higher mixin results in longer waiting times as you need to wait for the funds to be routed through the increased number of 'proxy' wallets.

Additionally, a higher mixin size can result in higher transaction costs.

We picked a ring-size of 10 for a couple of reasons. Firstly, there is no evidence to suggest that a ring-mixin size of 12 is statistically safer than a size of 10. Some evidence was put forward to suggest that there would be no security benefit incurred above a size of 4 (which is what Monero originally used, you can read about their original decision in this Monero Research Lab paper: https://lab.getmonero.org/pubs/MRL-0004.pdf).

However, a paper was put forward suggesting that this default ring-size was linkable (https://arxiv.org/pdf/1704.04299.pdf). Monero labs published an official response addressing this paper.

In a nutshell, lots of discussion happened within community, and many believe that 10 is the ideal minimum for preserving security (https://github.com/monero-project/monero/issues/1673).

We countered the downside of the increase in transaction time by reducing the mean time between blocks from 240s to 60 seconds (which is still considered safe, even though it can increase the number of orphan blocks created, causing the blockchain to become a little more bloated). This substantially increased transaction speed, even when using a mixin size of 10. Additionally, we (@SadBatman) implemented some compression on the blockchain to counter the effects of transmitting/ downloading the slight additional bloat this incurred.

Finally, some other things were done to reduce transaction costs such that the cost incurred from this ring-size was negated. I wasn't directly involved with reducing the transaction costs, so I can't speak in great detail about it. But, I believe we actually reduced the transaction costs by significantly more than just the amount required to counter the incurred ring-size cost.

A lot of interesting input from you, I appreciate it. Your explanation shows that you gave your coin specifications some thought beforehand! That's sadly not too often the case with all these copy coins appearing every day.

[Kashalotik]

W10x64
GUI Wallet 1.1 - working good
GUI Wallet 1.2 - can't sync

[infinitytech]

W10x64
GUI Wallet 1.1 - working good
GUI Wallet 1.2 - can't sync

Problems partially fixed in release 1.3.
we are still fighting to patch up any issues.
Thanks for the input.

[Kashalotik]

Problems partially fixed in release 1.3.
we are still fighting to patch up any issues.
Thanks for the input.

thx, 1.3 - good work ))

[Bathmat]

where is list pool sir ?? just 3 pool ??

Feel free to check out this pool: ombre.bathmatminingpools.com

Thanks!

[infinitytech]

Thank you. I don't dispute this. I'm only skeptic about a coin with one trillion supply with so high difficult and low reward.

I believe the supply is 1 billion?  - Which is also quite high, to be sure.

We thought it whould be better to have a decent size emission instead of lowering to 100mil or 80mil.
We can also keep the fees to a decent minimum without compromising anything.

[DigDeepMining]

Whats the latest devs?

Do you plan to apply for some exchanges? Not seen a reply from you since I asked the question a few days back, hopefully you are working hard behind the scenes

[Bluecore]

Whats the latest devs?

Do you plan to apply for some exchanges? Not seen a reply from you since I asked the question a few days back, hopefully you are working hard behind the scenes

Latest developments include - Continued work on the GUI wallet to ensure working order, as well as adding more content to the Ombre website.
We hope to have Ombre listed on Stocks.exchange in the next couple of days. We will update you all as soon as it is listed.

Come check out the Telegram channel, you will be able to keep updated with the latest Ombre happenings. 

[Gpuhog]

I'm trying to import my old wallet into the new gui wallet 1.3 but running into an issue.

I didn't set a password on the old wallet.  When i try to import it, the gui wallet keeps asking for a password.  I hit enter but it continues to ask for a password when there wasn't one set on the old wallet.

[infinitytech]

I'm trying to import my old wallet into the new gui wallet 1.3 but running into an issue.

I didn't set a password on the old wallet.  When i try to import it, the gui wallet keeps asking for a password.  I hit enter but it continues to ask for a password when there wasn't one set on the old wallet.

Open the old wallet inside cli, use "seed" the Cli will print the mnemonic seed of the wallet then import the mnemonic seed into GUI to recreate the wallet with password. If you need anymore help please consider joining our telegram channel.

[Bluecore]

If you are trying to import an old wallet, the GUI wallet will ask you to set a new password for that wallet. If you never set a password using the GUI wallet before, then it shouldn't ask you to put in a password, unless it is asking you to set a new password for the new wallet you are about to create using your private key/seed or one it generated for you.

You can tell it is asking for a new password when it asks you to set the password twice. (To ensure you typed it correctly) Any time after that, you will only need to enter the password once.

Keep in mind; this password is just so only you can access your wallet using the GUI. Your seed/private key is not tied to any password you set. So even if you forget your password you still have access to your funds as long as you have your seed/private key.

[mineallcrypto]

Can't get the wallet to sync, always stays one number below target height (e.g. Height 10192 / 10193). Used v1.1 and v1.2 of the linux binaries. Can't pay out the miners on my pool. Any updates?

[Bluecore]

Can't get the wallet to sync, always stays one number below target height (e.g. Height 10192 / 10193). Used v1.1 and v1.2 of the linux binaries. Can't pay out the miners on my pool. Any updates?

So Ombred isn't fully syncing the blockchain? Have you tried using the GUI wallet to sync it, just to test if it will work? It should pick up where the cli wallet left off.

[infinitytech]

Can't get the wallet to sync, always stays one number below target height (e.g. Height 10192 / 10193). Used v1.1 and v1.2 of the linux binaries. Can't pay out the miners on my pool. Any updates?

Please rebuild the wallet using mnemonics. We are aware of this small bug, didn`t catch why it happens.
But 100% the solution is to recreate the wallet from seed.
To do that, open the wallet without daemon, this will ensure it will not remain stuck at sync. Then use the "seed" command in wallet, and recreate the wallet using

Code:

ombre-wallet-cli --restore-deterministic-wallet

[mineallcrypto]

Thanks. That resolved it. Always something new to learn.

I also noticed that there's now a mismatch between incoming amount and the actual block reward. I got in my wallet showing a incoming transaction of 84.688669172 but the block reward was 90.089869300.

[infinitytech]

Thanks. That resolved it. Always something new to learn.

I also noticed that there's a mismatch between incoming amount and the block reward. I got in my wallet showing a incoming transaction of 84.688669172 but the block reward was 90.089869300.

That is because OMBRE has a dev fee per block instead of premine which currently sits arround 6% but will gradually fall. It's normal for block reward to be 84.

[BtcVolcano]

As far as I understand the project is calculated on many years ahead. Demanding design further and completions of details. Interesting of course concept of approach to business. I intend to take part in this project too, but at first probably it is better to study in more detail.

[infinitytech]

As far as I understand the project is calculated on many years ahead. Demanding design further and completions of details. Interesting of course concept of approach to business. I intend to take part in this project too, but at first probably it is better to study in more detail.

Hope you and many more people get to trust in our team and in the future development of our project. We are working fast to bring you the full roadmap of our project although currently we are focused on fixing any and all issues.