[SKY] Skycoin Launch Announcement

[yapiee]

How I can take a stake?

[Tobo]

Development Update:

The hash function for Skycoin deterministic wallet generation is finished. We believe our new deterministic wallet hash function is the most secure hash function against GPU and ASIC brute forcing to date. We are using a new hash called "secp256k1 Hash" that combines SHA256 with elliptic curve signature operations.

Secp256k1 Hash Implementation:

1> SHA256 seed value
2> Compute deterministic private key, pubkey pair from seed value
3> Generate deterministic secp256k1 signature from seed and generated private key
3> Append signature to seed and compute its SHA256 hash

+1.

[skycoin]

Development Updates:

We are updating the Skycoin wire protocol. This is the last thing on checklist before launch.

=== Blob Replicator ===

The Blob Replicator is done. Blob replicator is used for transaction replication and the emergency messaging system.

- https://github.com/skycoin/skycoin/blob/master/src/sync/blob_replicator.go

This uses a gossip protocol to replicate data among a swarm of peers.
- A blob is a series of bytes. The id of a blob is its SHA256 hash
- On connect a peer receives a list of all the hashes of the Blobs the peer has.
- the client requests any blobs peers have that the local client doesnt have
- When a client downloads a new blob, it announces the hash of the blob, so other peers know it exists
- There is a callback function that determines if blob is valid, should be ignored or if peer sending the blob should be kicked
- Blobs are only replicated if they  are "valid" and the callback function judges validity

Uses of blobs include
- emergency messaging system (criteria: blobs contain valid signature)
- transactions (criteria: transactions must be valid and meet various criteria)

Example of using Blob Replicator:
https://github.com/skycoin/skycoin/blob/master/run.go

=== Request Manager ===

Request manager is under development and almost done. Request Manager rate limits requests and is used to protect against DDoS and Sybil attacks.

https://github.com/skycoin/skycoin/blob/master/src/sync/request_manager.go

Request Manager
- queues up requests for data and spreads them over times
- keeps tracks of what requests are in progress
- limits requests per peer
- disconnects clients who are not responding to requests
- disconnects clients who send data that was not requested
- stores information for detecting DDoS and Sybil attack nodes
- kicks nodes that are slow, to speed up blockchain downloads

=== Hash Chain Replicator ===

This is like the Blob Replicator, but used for block chain replication. This component is used for downloading the blockchain and for Obelisk.

This is last component of the wire protocol before launch.

[Korean]

ETA? Also, are you going to test the system before we launch? Just like how you guys discovered a problem with the coin hours previously?

[MsCollec]

do you have the timeline for the IPO.

[CraigM]

What license is the code under? Currently I don't see any license on the client or the darknet project. That implicitly puts it under standard copyright, which is pretty crippling; I won't use a client I can't fork and patch.

[KyLins]

Compared with the NXT and what kind of advantages

[kripto]

thx for the update

[DawgDCG]

So is there a date for the IPO?
What is the max amount per person?

[jevin]

keep watching

[provenceday]

will wait

[kripto]

I was trying to build/run the skycoin client  on ubuntu64 without success. Is there a thread/forum/system for technical issues or bugtracking?

Thx

[Touque]

Development Updates:

We are updating the Skycoin wire protocol. This is the last thing on checklist before launch.

=== Blob Replicator ===

The Blob Replicator is done. Blob replicator is used for transaction replication and the emergency messaging system.

- https://github.com/skycoin/skycoin/blob/master/src/sync/blob_replicator.go

This uses a gossip protocol to replicate data among a swarm of peers.
- A blob is a series of bytes. The id of a blob is its SHA256 hash
- On connect a peer receives a list of all the hashes of the Blobs the peer has.
- the client requests any blobs peers have that the local client doesnt have
- When a client downloads a new blob, it announces the hash of the blob, so other peers know it exists
- There is a callback function that determines if blob is valid, should be ignored or if peer sending the blob should be kicked
- Blobs are only replicated if they  are "valid" and the callback function judges validity

Uses of blobs include
- emergency messaging system (criteria: blobs contain valid signature)
- transactions (criteria: transactions must be valid and meet various criteria)

Example of using Blob Replicator:
https://github.com/skycoin/skycoin/blob/master/run.go

=== Request Manager ===

Request manager is under development and almost done. Request Manager rate limits requests and is used to protect against DDoS and Sybil attacks.

https://github.com/skycoin/skycoin/blob/master/src/sync/request_manager.go

Request Manager
- queues up requests for data and spreads them over times
- keeps tracks of what requests are in progress
- limits requests per peer
- disconnects clients who are not responding to requests
- disconnects clients who send data that was not requested
- stores information for detecting DDoS and Sybil attack nodes
- kicks nodes that are slow, to speed up blockchain downloads

=== Hash Chain Replicator ===

This is like the Blob Replicator, but used for block chain replication. This component is used for downloading the blockchain and for Obelisk.

This is last component of the wire protocol before launch.

+1.

[td services]

Trying to install and run client on windows. I've installed mingw basic package on Windows in c:\minGW directory and downloaded and extracted the skycoin-master.zip file from github. Skycoin instructions sayto use universal instructions in mingw shell, but I can't find any instructions anywhere on how to launch mingw shell, no mingw entry under start/programs, and no program under c:\mingw like "mingw.exe" or "mingwshell.exe" - just a bunch of executables for specific tasks.

Are there any clearer instructions anywhere?

[rosequee]

the coin looks crazy.

[provenceday]

any update now？

[Jr.peng]

any more info   

[skycoin]

Development Update:

We are compiling binaries for the testnet. Will release binaries and instructions for running testnet from source. You will be able to get testnet coins by posting address in github thread.

[twistelaar]

Already a IPO date? thanks.

[kache]

Development Update:

The hash function for Skycoin deterministic wallet generation is finished. We believe our new deterministic wallet hash function is the most secure hash function against GPU and ASIC brute forcing to date. We are using a new hash called "secp256k1 Hash" that combines SHA256 with elliptic curve signature operations.

Secp256k1 Hash Implementation:

1> SHA256 seed value
2> Compute deterministic private key, pubkey pair from seed value
3> Generate deterministic secp256k1 signature from seed and generated private key
3> Append signature to seed and compute its SHA256 hash

So it's gonna be CPU only at launch?