[ANN][DRIP][POS][MN] Now offering masternode monitoring and hosting services

[drip]

Here's a screenshot of the 'Privacy' tab from our upcoming wallet - a much cleaner screen now that you can hide the breakdown of denominations if you so desire. The screenshot also incorporates a mini Monday-morning tease that the most observant of you will find pretty quickly.  BTC

[1715162866]

1715162866

[1715162866]

1715162866

[1715162866]

1715162866

[drip]

Hack Currently Impacting a Number of PIVX Forks - DRIP IS NOT IMPACTED

It has been brought to our attention that a number of PIVX forks have a bug that is being exploited by bad actors on their respective chains.

The issue itself doesn't place peoples' coins in jeopardy but, instead, allows hackers to adjust block rewards so that, every time they receive a stake, they receive the entire block reward and the masternode gets nothing.

By doing this at an early stage in the coins life, the hackers secure extremely large holdings in each coin meaning they receive lots of stakes - and receive the payment that should be going to the masternodes every time.

This announcement is being made to provide DRIP coin holders with the reassurance that we have fully investigated the issue and DRIP is not impacted.

If someone were to attempt the same with DRIP, the block would end up being orphaned and the person attempting the hack would loss, not only their attempted theft of a masternode payment, but would loss their valid staking reward too.

[Dradden]

Solid project and definitely worth keeping an eye on.

[drip]

  Quick Development Update  

The time has come for an update on our development and to provide the community with a little further detail on our plans.

As many of you will be aware, our community and the DRIP team are constantly monitoring other projects development in an attempt to see whether there are any lessons we can learn whilst continuing with development within the DRIP team.

One such project is MDEX, who have completed the beta-release of an exchange similar to CryptoBridge - phase 1 in their goal to introduce a fully decentralized cryptocurrency exchange. MDEX is a project that many within the mining community and crypto-world in general are aware of. Despite this, the total exchange volume during the past 24 hours has been just 0.106 BTC. There are also wide variations in prices obtainable for MDEX - even when selling small amounts.

Whilst we intend DRIP, after 'Spend Privately as Bitcoin', to surpass awareness levels of many of the new DEX projects, we cannot guarantee volume on our own DEX - especially in the short-term. For this reason, and some others, we have decided to move away from our originally-intended three-layer architecture shown below.

DRIP Wallet > DRIP Masternode > DRIP DEX

We are now going to move to a four-layer architecture by introducing what we are calling the 'DRIP Trading Engine'.

DRIP Wallet > DRIP Masternode > DRIP Trading Engine > DRIP DEX/Other Exchanges

Whilst the original architecture works well, it's not as flexible and robust as what we can offer by introducing the 'DRIP Trading Engine'. One of the main advantages this new 'DRIP Trading Engine' will offer is that we can integrate it with, not just the DRIP DEX, but with other exchanges on which we are currently listed as well as Cryptopia (or similar) and Binance (or similar) when we eventually list on those higher-tier exchanges (we fully understand that, despite us having our own DEX, we still need to proceed as planned with listing on such traditional exchanges).

The DRIP trading engine will constantly monitor prices in all DRIP exchanges with which it is integrated and select that which offers the best price to fulfil each trade. In fact, whilst one of you may create a single request to spend, for example, 0.05 BTC privately as DRIP, the 'DRIP Trading Engine' at the backend may end up choosing to fulfil this trade in multiple exchanges if doing so offers you a better price. This would be seamless and invisible to the DRIP wallet user.

There are other features that we will be able to offer via usage of the 'DRIP Trading Engine' that we would not be able to provide otherwise. These features became apparent to us when designing the 'Spend Bitcoin' screen for our wallet and coming up with ideas of the flexibility users may want to see when deciding to 'Spend DRIP Privately as Bitcoin'. These other features will be revealed to all when we provide additional screenshots during the next couple of weeks.

[drip]

Here's a sneak preview of our upcoming 'Spend Privately as Bitcoin' screen. It's being previewed now to allow for community discussion and input on options you may like to see added to the facility when it is fully implemented later this year. Please feel free to let us know if you have any suggestions, questions or concerns.

[CharlesCobaxter]

Still can't believe I was lucky enough to find this coin on Twitter just before the free air drop. Biting my fingernails off waiting for this one pager to release tomorrow~!

[Dradden]

Gamechanger!!

[drip]

Gamechanger!!

Thanks Dradden.

We were somewhat reluctant to release the screenshot just yet and were going to leave it until next month. However, we are at the stage in development now where it'll be relatively easy to incorporate community suggestions, if any, into the design. This would take a lot more time and effort if we were to release nothing until the final product was complete and release-ready.

[gnargnar]

Here's a sneak preview of our upcoming 'Spend Privately as Bitcoin' screen. It's being previewed now to allow for community discussion and input on options you may like to see added to the facility when it is fully implemented later this year. Please feel free to let us know if you have any suggestions, questions or concerns.

hm, very interesting feature   

great entry price at crypto-bridge

I will follow the development closely. It might be the gem I was looking for

[drip]

Here's a sneak preview of our upcoming 'Spend Privately as Bitcoin' screen. It's being previewed now to allow for community discussion and input on options you may like to see added to the facility when it is fully implemented later this year. Please feel free to let us know if you have any suggestions, questions or concerns.

hm, very interesting feature   

great entry price at crypto-bridge

I will follow the development closely. It might be the gem I was looking for

Thanks gnargnar. The market downturn of recent days, which has hit altcoins particularly bad, has indeed given a great entry point for DRIP.

Feel free to join our growing Discord community at https://discordapp.com/invite/n93p2BW. This is where most discussion occurs and there's quite a few interesting posts in the #informative-posts channel (our community requested this to allow us to isolate some of the great nuggets of knowledge we post from time-to-time - the separate channel stops them being lost after some time).

[Padilla Otsu]

On the notes that it will be a privacy coin, is the plan to mainly to follow what is being done by other coins like dash, or do something else.

[drip]

On the notes that it will be a privacy coin, is the plan to mainly to follow what is being done by other coins like dash, or do something else.

Hi Padilla Otsu. We are already a privacy coin similar to PIVX (which is based upon DASH). At the moment, we have the added feature of 'Retailer Rewards' available in our coin. This is a small feature that will, primarily, come into play when we switch from a high-ROI coin to a more stable coin that can be accepted by retailers as payment (we'll be approaching that status next Summer).

However, the main innovation our coin will have is the 'Spend Privately as Bitcoin' feature - for which we've just released a screenshot (above). Imagine a version of DASH/PIVX where, directly from the desktop/mobile wallet, you could spend your DASH/PIVX coins privately anywhere that accepts Bitcoin. That will be DRIP 

Basically, if you walked into a pizza shop that accepted Bitcoin with your DRIP android wallet (in the works), and a pizza costed 10,000 sats, you could enter 10,000 sats and a Bitcoin address into your DRIP wallet. The DRIP value of 10,000 sats would leave your wallet and go to the 'DRIP Trading Engine' which would convert that DRIP automatically to 10,000 sats and send to the pizza shops Bitcoin address. The pizza shop would have no idea of your DRIP or BTC addresses as the payment isn't coming directly from you.

Basically, DASH is great as a privacy coin and Bitcoin is great as a coin with widespread acceptance - DRIP merges the two.

[drip]

The Quote calculations will be based upon best available prices pulled by the DRIP Trading Engine from the various exchanges at which DRIP is traded.

Slippage is a user defined parameter and can be set to a sats amount or a percent. Lets say you are in a pizza shop where a pizza costs 10,000 sats. Basically, slippage is how far from the price quoted you find acceptable to still complete the transaction. It's to allow for slight variations in price between the time the quote is calculated and the time you click Send and Confirm to complete transaction. In this case, I might say "this pizza is costing me 100 DRIP - but let the trade continue, even with a 3% slippage, if it ends up costing 103 DRIP".

In Force is the time the transaction will remain in force. If the transaction doesn't complete within this timeframe due to the initial price no longer being available on the exchange (someone could cancel a buy order at the same time as you click 'Send'), the DRIP is returned to your address.

Partials is a checkbox where you indicate whether partial trades are acceptable. It would be used, for example, if you were sending a family member 100,000 sats at the quoted price but were willing to send smaller amounts if the full 100,000 wasn't available at that price.

If the quoted price is no longer available and we're still within the 'In Force' time, the following happens:

• If you have Partials selected, the trade itself will be placed on the backend exchange and visible to others to take portions of
• Otherwise, the trade is held within the DRIP Trading Engine and would be held off exchanges. Instead, the DRIP Trading Engine would monitor the exchanges to which it's linked for trades that would allow your transaction to complete, in-full, when carried out

[!vanovi4]

I agree with the fact that few crypto-currencies offer the opportunity not just to spend privately, but to earn evidence of interest at rates while maintaining anonymity. I like that the DRIP coin is one of these currencies.

[drip]

I agree with the fact that few crypto-currencies offer the opportunity not just to spend privately, but to earn evidence of interest at rates while maintaining anonymity. I like that the DRIP coin is one of these currencies.

Thanks !vanovi4. Feel free to contact us here or on Discord if you have any questions - technical or otherwise

[drip]

We've replied to all private messages. Please post here, in public, if you have questions that you feel the answers to which will be useful for others to know too.

[Maverik93]

We've replied to all private messages. Please post here, in public, if you have questions that you feel the answers to which will be useful for others to know too.

Hi DRIP, Spend Privately as Bitcoin is an amazing feature would you be able to add some other coins like ETH or similar? Thank you!

[drip]

We've replied to all private messages. Please post here, in public, if you have questions that you feel the answers to which will be useful for others to know too.

Hi DRIP, Spend Privately as Bitcoin is an amazing feature would you be able to add some other coins like ETH or similar? Thank you!

Yes Maverik93. It's always been the intention to add any coin that shows signs of gaining some traction with regards to widespread adoption as a form of payment. Introducing the feature with BTC alone makes most sense for now. That will get the DRIP name out in the mainstream resulting in increased volume. This increased volume will then allow us to consider additional options.

[Maverik93]

Yes Maverik93. It's always been the intention to add any coin that shows signs of gaining some traction with regards to widespread adoption as a form of payment. Introducing the feature with BTC alone makes most sense for now. That will get the DRIP name out in the mainstream resulting in increased volume. This increased volume will then allow us to consider additional options.

Sure, atm BTC market is mandatory, other coins are not required soon, but after a volume stabilization. Thank you about your answer DRIP!
Best dev ever!

[kelseydustin]

What number of coins, needed for a masternode?

For MN you need 10,000 coins.