[TEK] TEKcoin Hi-PoS hybrid pos/pow no premine/ipo/ico

[presstab]

I don't have sha256 miners, but the way I understand it, the same asics that are used to mine bitcoin can be used to mine tek. I am not sure if sha256 is the most efficient hash to use, but I don't think the hash is the most important aspect of a coin. On a PoW/PoS mixed coin, if things turn out as planned, PoS should take over the network overtime (well most of it).

Sorry I missed answering that question. I don't believe there is a high staking coin, but I am not sure. There are so many coins out there.

Tek has been a bit neglected in my opinion. As you may know, I am a huge HBN fan. When I first came across HBN it was very quiet.  I did my part to do all that I could to create a community centered around HBN.  I created a website that was easy to read and navigate to the various HBN discussion threads, created a wiki, and posted regularly.  Obviously HBN is successful because of Tranz, the dev, but having an active community and easy to use website really helps.

Right now there is a website being worked on for Tek. I am not involved in it and don't know much about it. I have focused on the wallet for now because it was missing essential features like coin control.  You can see changes I have made by looking at my commits on github. Coin control, stake weight monitoring, etc.

What HBN has that Tek doesn't is a community and a crazy smart dev. Right now we are working on getting Tek into the light and more well known. It will happen over time but we need the infrastructure. Tek does not have a crazy smart dev... but I have recently been getting into the code and comparing it directly to HBN code. And fortunately, I have a decent relationship with Tranz and he has helped me with several questions I have had in the source code.

The activity on this thread will hopefully increase as the word gets out. I am working on getting the word out, but I am not willing to spam people with tek.

[thundertoe]

Just saw a preview of the website it looks really good!. Its in the hands of good Tek supporters, they also did the logo and are gearing up to help with twitter, reddit, social media promotion.
You can mine TEK with Asic like bitcoin, however because of the stake rate, and the PoW mining adj. algo. there is really no need to worry about if there is "enough" miners on the chain to keep it  secure. I am going to copy paste some info i wrote awhile ago about TEKcoin that may help.


Proof of Stake/Proof of Work system.

Proof of Stake


TEKcoins major difference from Bitcoin is that it uses a proof-of-stake/proof-of-work hybrid system for coin generation. With this system, coins are generated based on proof-of-stake blocks in addition to proof-of-work blocks. This works out to about 40% interest paid on coins in your wallet that have not been moved for 30+ days.

Increased Security


Proof-of-stake block generation could reduce the risk of 51% attacks for at least two reasons. First, the cost of acquiring 51% of all stake could in theory be much higher than the cost of acquiring 51% of all mining power, thus raising the cost of attack. Second, in a 51% stake attack the attacker's investment would be directly at risk of losing value. TEKcoin also enforces transaction fees at protocol level to defend against block bloating attacks.

Energy Efficiency

Proof-of-stake blocks require minimal energy consumption. Thus, with TEKcoin is a very energy efficient coin. The stake rate is increased from PPC code and should also mean increase in energy efficiency. The difficulty algorithm adjustment in TEKcoin will climb faster than it will come down. The effect being as miners jump on to profit the difficulty rockets up causing a miner drop off. Tekcoin will be in this drop off phase more often than in the mining profitability phase especially being a sha-256 coin its very unlikely to surpass btc mining for long periods of time. This however will help increase the energy efficiency even more as the network will tend to rely heavier on stake blocks to move it.


tldr Tekcoin is a fast, secure coin. Transactions are fast regardless of miners jumping in or out, the stake minting keeps the chain moving.

[presstab]

Awesome write up Thundertoe!

Here is a preview of the new buttons I had my graphic design friend make, I think they match the new look of Tek quite well.

[thundertoe]

I read about TEKcoin thanks to tokyoghetto on his famous HBN investment journal. I see that TEKcoin has a 480% interest rate per year, that's truly impressive for fire-and-forget people like me (I am not good at day-trading, that's for sure).

Four questions:
- Is there any coin with a higher interest rate than this one?
- Why this coin was created? To get the highest interest rate or there is more to it? I suppose the goal is to discourage any attempt at selling, even at high prices (or only the result of your stake) and I guess there is a coin-control wallet, right?
- Why a shacoin? Sha is much more energy-hungry that scrypt If tek was created now, I would use X11 for the purpose of energy efficiency (or CryptoNight if CPU draws less energy than GPU, which I don't know). Maybe the least energy-intensive would be an scrypt-ASIC (scrypt has a lower energy footprint than SHA and ASIC are more efficient than anything else)
- Where is the source for the wallet? Where is the Linux wallet?

Thank you.

higher interest rate: yes cent

why was coin created: I had already done the scrypt concept with HBN and Tranz took that over (awesome! i knew it was better off in his hands. looks like i made a good call  ) and wanted to work on the next project along the same lines but push the stake concept more and try sha256.

Why sha? At the time it was in concept and released Asic was just coming down in price enough to put them in a lot of hands,(erupters and blades etc just getting to the price point of massive adoption) and there wasn't many sha coins to pick from(aug/sept).

Energy efficiency has changed since for all the mining gears, however TEKs design is such that the  PoS can move the chain efficiently and keep it secure. If you watch the profitability of mining TEK it almost always stays lower than btc, and if it jumps higher it wont stay long.

TEK doesnt need alot of hashpower to be secure, you cant 51% with hash alone on a PoS coin. You cant lock the chain of tek with large PoW miner drop off, or with a sudden massive increase like a multipool hitting it. Its been done and it was not an issue when it happened.

[thundertoe]

so our webguy Spirey went nab the twitter and its being held hostage for 100k TEK https://twitter.com/TekCoin  i wonder. lol does that guy know there are only about 750k tek total right now? 

so i have nabbed this one https://twitter.com/TEKcoins , Spirey may take it over and run it as well as the reddit here http://www.reddit.com/r/TEKCoins/

and yea we tried to get the owner of http://www.reddit.com/r/TEKCoin/ to let Spirey run it and the guy wants .5 btc

[SpiryGolden]

so our webguy Spirey went nab the twitter and its being held hostage for 100k TEK https://twitter.com/TekCoin  i wonder. lol does that guy know there are only about 750k tek total right now? 

so i have nabbed this one https://twitter.com/TEKcoins , Spirey may take it over and run it as well as the reddit here http://www.reddit.com/r/TEKCoins/

and yea we tried to get the owner of http://www.reddit.com/r/TEKCoin/ to let Spirey run it and the guy wants .5 btc

We are working on ! I don't say much here yet since i am working on it . I like to do stuff then announce them  . Thanks to TEK Coin Community !

[Biomech]

I don't have sha256 miners, but the way I understand it, the same asics that are used to mine bitcoin can be used to mine tek. I am not sure if sha256 is the most efficient hash to use, but I don't think the hash is the most important aspect of a coin. On a PoW/PoS mixed coin, if things turn out as planned, PoS should take over the network overtime (well most of it).

Sorry I missed answering that question. I don't believe there is a high staking coin, but I am not sure. There are so many coins out there.

Tek has been a bit neglected in my opinion. As you may know, I am a huge HBN fan. When I first came across HBN it was very quiet.  I did my part to do all that I could to create a community centered around HBN.  I created a website that was easy to read and navigate to the various HBN discussion threads, created a wiki, and posted regularly.  Obviously HBN is successful because of Tranz, the dev, but having an active community and easy to use website really helps.

Right now there is a website being worked on for Tek. I am not involved in it and don't know much about it. I have focused on the wallet for now because it was missing essential features like coin control.  You can see changes I have made by looking at my commits on github. Coin control, stake weight monitoring, etc.

What HBN has that Tek doesn't is a community and a crazy smart dev. Right now we are working on getting Tek into the light and more well known. It will happen over time but we need the infrastructure. Tek does not have a crazy smart dev... but I have recently been getting into the code and comparing it directly to HBN code. And fortunately, I have a decent relationship with Tranz and he has helped me with several questions I have had in the source code.

The activity on this thread will hopefully increase as the word gets out. I am working on getting the word out, but I am not willing to spam people with tek.

Heh. One of the reasons I initially liked TEK was that it wasn't spammed on every page, and I could actually read the whole thread

Yes, I can tell you for certain that you can use the same miners to mine TEK that you do BTC. I mine both, with the same rig as the mood strikes me. To my knowledge, it is not merge minable, which I think would be an interesting twist, but it would drive the difficulty to the moon. Good for the coin, in some ways, but bad for guys like me with little rigs.

I wasn't in on the beginning of TEK, but I've been mining it off and on for about three months. It's not a troublesome coin, it's trade value is good, and I like the POS concept to some extent. The low block reward seems to keep it stable more than most coins.

It seems to be getting a bit more popular, as I am unable to mine as much as before due to difficulty, and it frequently tops the Coinwarz charts, until the diff adjusts.

[David Latapie]

Tek has been a bit neglected in my opinion.

Which is good, it leaves room for newcomers like me (although the price of one TEK is already quite expensive)

You can see changes I have made by looking at my commits on github. Coin control, stake weight monitoring, etc.

I can't compile it on Manjaro (it happens a lot to me - Linux is increasingly becoming "Ubuntu"n which is slow as hell compared to the nimble Manjaro, based on Arch). Could you give a link to precompiled binary? Usually, Binaries for Ubuntu work in Manjaro too - it is only compilation that is getting difficult.

What HBN has that Tek doesn't is a community and a crazy smart dev. Right now we are working on getting Tek into the light and more well known. It will happen over time but we need the infrastructure. Tek does not have a crazy smart dev... but I have recently been getting into the code and comparing it directly to HBN code. And fortunately, I have a decent relationship with Tranz and he has helped me with several questions I have had in the source code.

Thank for your great answer.

[presstab]

Tek has been a bit neglected in my opinion.

Which is good, it leaves room for newcomers like me (although the price of one TEK is already quite expensive)

You can see changes I have made by looking at my commits on github. Coin control, stake weight monitoring, etc.

I can't compile it on Manjaro (it happens a lot to me - Linux is increasingly becoming "Ubuntu"n which is slow as hell compared to the nimble Manjaro, based on Arch). Could you give a link to precompiled binary? Usually, Binaries for Ubuntu work in Manjaro too - it is only compilation that is getting difficult.

What HBN has that Tek doesn't is a community and a crazy smart dev. Right now we are working on getting Tek into the light and more well known. It will happen over time but we need the infrastructure. Tek does not have a crazy smart dev... but I have recently been getting into the code and comparing it directly to HBN code. And fortunately, I have a decent relationship with Tranz and he has helped me with several questions I have had in the source code.

Thank for your great answer.

I will build with ubuntu and see if I can get you the right files.  If you want you can try the tekcoin-qt-linux.pro that I just put on my github repo.  It removes the windows library locations that chokes up Linux compilations.

Edit - Also keep in mind that if you are working from command line and not looking for GUI, then you will need to build with one of the makefiles in the src directory rather than building the qt client.

[ryanb]

can someone work on a rich list?

[presstab]

can someone work on a rich list?

I have discussed getting blockx.info to provide a block explorer for TEK. Unick would really need another machine to run the explorer and also the time to put it together. If we can get a bounty put together for it I am sure it would be much more compelling.

[subSTRATA]

can someone work on a rich list?

As of yesterday, I have 7500+ TEK which are split into 6000 TEK in my local wallet and three 500+ TEK sell orders at Cryptsy, at 0.0003, 0.00035 and
0.0004 so you don't have to be afraid of me, I never ever dump coins. Placing multiple buy and sell orders is much better deal overally, it seems.

[breakbeater]

i am poor as fuck, with only 500 TEK... 

[subSTRATA]

i am poor as fuck, with only 500 TEK...  

I mined like 200 and bought like 3000 for BTC so it is not like TEK riches rained from the sky down on me.

Few issues with newest wallet on Win7 64bit:

1. Icon is too small and ends up stretched to oblivion, compare it with old TEK and some other cryptocoin wallet icons below.



2. Logo inside the wallet is located too high and too far to right and that makes "Recent Transactions" box pushed too far to right, addresses cropped.



3. getpeerinfo shows connected remote wallets as "subver" : "/tekcoin:1.9.1/" I asume those are all newest wallets so they should be version 1.0.1

4. Wallet window size and location are not saved between sessions.

5. PoS mined blocks still use wording "PoFMined".

6. At Debug window, "Estimated total blocks" is always behind "Current number of blocks" and it seems once it hits some value it does not change
until the next session.

[5Dzz]

I'm going to use the original funky wallet for now,  as long as it has the right synch and blockchain. Then just probably upgrade it later when the new wallet is finalized.

 

[ryanb]

i can donate 200 tek for the richlist

[SpiryGolden]

Wow heavy movement on TEK Front I like it . Website it's almost ready . It's simple for presentation but better then none at all . Soon a custom TEK Reddit & TEK Twitter Promo .

[presstab]

i am poor as fuck, with only 500 TEK...  

I mined like 200 and bought like 3000 for BTC so it is not like TEK riches rained from the sky down on me.

Few issues with newest wallet on Win7 64bit:

1. Icon is too small and ends up stretched to oblivion, compare it with old TEK and some other cryptocoin wallet icons below.



2. Logo inside the wallet is located too high and too far to right and that makes "Recent Transactions" box pushed too far to right, addresses cropped.



3. getpeerinfo shows connected remote wallets as "subver" : "/tekcoin:1.9.1/" I asume those are all newest wallets so they should be version 1.0.1

4. Wallet window size and location are not saved between sessions.

5. PoS mined blocks still use wording "PoFMined".

6. At Debug window, "Estimated total blocks" is always behind "Current number of blocks" and it seems once it hits some value it does not change
until the next session.

Awesome feedback, this is what I like to see.  There are tons of improvements that need to be made.

1 - I already fixed this, it is committed to github. I made a stupid mistake when I made the release and accidentally put the .ico as 16x16. It is now 256x256.  The only problem I have now is that with the new release that windows must have the icon cached and doesn't replace it.  On new machines the full res icon works fine. Maybe renaming the .exe might help I am not sure.  Open for suggestions and help with this.

2 - I don't have the QT gui editor but I can see if I can hard code it to push further left.

3 - v1.0.1 is flagged that way in the client, I am guessing this might come from one of the other versions like funky with colors?  I will look into this.

4 - Not sure how to handle this, help appreciated.

5 - Already fixed this and it is already committed to github a few commits ago.

6 - I see this now and will see if I can get into the code.

[presstab]

i can donate 200 tek for the richlist

I will throw in 500 TEK.

[subSTRATA]

i am poor as fuck, with only 500 TEK...  

I mined like 200 and bought like 3000 for BTC so it is not like TEK riches rained from the sky down on me.

Few issues with newest wallet on Win7 64bit:

1. Icon is too small and ends up stretched to oblivion, compare it with old TEK and some other cryptocoin wallet icons below.

https://i.imgur.com/bbyvroK.png

2. Logo inside the wallet is located too high and too far to right and that makes "Recent Transactions" box pushed too far to right, addresses cropped.

https://i.imgur.com/85yG7D4.png

3. getpeerinfo shows connected remote wallets as "subver" : "/tekcoin:1.9.1/" I asume those are all newest wallets so they should be version 1.0.1

4. Wallet window size and location are not saved between sessions.

5. PoS mined blocks still use wording "PoFMined".

6. At Debug window, "Estimated total blocks" is always behind "Current number of blocks" and it seems once it hits some value it does not change
until the next session.

Awesome feedback, this is what I like to see.  There are tons of improvements that need to be made.

1 - I already fixed this, it is committed to github. I made a stupid mistake when I made the release and accidentally put the .ico as 16x16. It is now 256x256.  The only problem I have now is that with the new release that windows must have the icon cached and doesn't replace it.  On new machines the full res icon works fine. Maybe renaming the .exe might help I am not sure.  Open for suggestions and help with this.

2 - I don't have the QT gui editor but I can see if I can hard code it to push further left.

3 - v1.0.1 is flagged that way in the client, I am guessing this might come from one of the other versions like funky with colors?  I will look into this.

4 - Not sure how to handle this, help appreciated.

5 - Already fixed this and it is already committed to github a few commits ago.

6 - I see this now and will see if I can get into the code.

1 - There are multiple ways to rebuild icon cache, check below.

http://www.winhelponline.com/blog/refresh-icon-cache-windows-7-quickly
http://www.sevenforums.com/tutorials/49819-icon-cache-rebuild.html

4 - Some of wallets that save window size and location are Bitcoin, Maxcoin, Primecoin, Mooncoin, Datacoin, Zetacoin and Flappycoin. Some of wallets
that does not save window size and location are Tekcoin, Sexcoin, Corgicoin, Yacoin and Tagcoin. You might wanna compare source-codes and other
files on GitHub for some clues on how it is done.