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Author Topic: [SKY] Skycoin Launch Announcement  (Read 381425 times)
keepwalking1234
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March 03, 2014, 10:34:40 AM
 #521


IPO Update:

The IPO may be drawn over a week, instead of being a single day period. The IPO may look like this
- you go to website.
- you put in a skycoin address where coins will go
- you put in a return bitcoin address  where coins that could not participate in IPO will be returned
- you receive a deposit address to send Bitcoins to
- the three addresses will be concatenated, hashed and signed with a special IPO Public key, so that they can be verified
- each day over the week long IPO, the Skycoins will be deposited into your address
- the Bitcoin that did not participate in the IPO will be sent to the return address, minus 0.0001 transaction fee

Privacy
1. The output address and coin amount for each Skycoin address that received coins in the IPO will be published
2. The input and return address will not be published unless the user chooses to publish this information.
3. If you did not receive coins or coins were not refunded, you can publish your signed address tuple and it can be publicly verified

We may do a one day mock IPO with testnet coins, so everyone can see how it works.

Software Update:

The design of Obelisk is finalized. All the pieces come together and its a major milestone for cryptocoins. We believe that Skycoin will be the most secure, most difficult to attack non-mined cryptocoin to date.

Changes:
- there is now list of things for developers to do https://github.com/skycoin/skycoin/wiki/SOFTWARE-DEVELOPERS-CLICK-HERE
- we introduced proof of work and difficulty re targeting to keep block production rate constant. As the network scales from 10 nodes to 100,000 we need to keep the block rate constant and prevent it from growing linearly with the number of nodes. This minimizes the number of decisions and rounds Obelisk needs to converge to network consensus. Proof of work will be used for block minting, but not for block consensus. There will be no reward for block minting. Malicious blocks (blocks with no transactions or few transactions) will be weighted against, to deter abuse. The proof of work is not in the block headers, but occurs at a higher level that wraps the blockchain. This makes it more modular and easy to swap out and modify without causing a hardfork.
- we proved that probability of a block fork under Obelisk approaches 0% exponentially quickly with block depth.
- transaction and block replication in /src/daemon are being abstracted into a library. The emergency messaging system and transaction propagation will use "blob replication". Blockchain and obelisk replication will use "hash chain replication". This will make the system more modular and make improvements to block and transaction propagation easier.
- we are working on builds for testnet client. Obelisk is not implemented yet, but you will be able to run client and send coins around and hunt for bugs
- There is a massive refactor going on. Replication functionality  in /src/daemon is being moved into /src/sync. /src/visor functionality is being moved into /src/blockchain and the top level of Skycoin is being moved, to make changes required for Obelisk integration.
- /src/coin and the cryptography libraries are "done".  The changes to this part of program will be minimal going forward.
- we are finalizing the JSON RPC for exchanges and wallets



that's  great!

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nightengale
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March 03, 2014, 01:52:37 PM
 #522

But when?!?
superresistant
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March 03, 2014, 02:09:32 PM
 #523

But when?!?

Not any time soon as OP need to setup a special wesite with a payment system and maybe do a testnet period.

songshunyue
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March 03, 2014, 02:31:08 PM
 #524

How to get some gold coins
gs02xzz
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March 03, 2014, 02:48:36 PM
 #525


IPO Update:

- we introduced proof of work and difficulty re targeting to keep block production rate constant. As the network scales from 10 nodes to 100,000 we need to keep the block rate constant and prevent it from growing linearly with the number of nodes. This minimizes the number of decisions and rounds Obelisk needs to converge to network consensus. Proof of work will be used for block minting, but not for block consensus. There will be no reward for block minting. Malicious blocks (blocks with no transactions or few transactions) will be weighted against, to deter abuse. The proof of work is not in the block headers, but occurs at a higher level that wraps the blockchain. This makes it more modular and easy to swap out and modify without causing a hardfork.

So this will be a combination of Obelisk and PoW. But if there is no reward for minting, what is the incentive for minting?
Ada_and_Alternative
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March 03, 2014, 03:49:14 PM
 #526

BTW you better have another name for coin. Because one Skycoin [SYC] is already dead and another Skycoin  [SKY] was announced today

Both of your links go to the "dead" skycoin.

sorry
https://bitcointalk.org/index.php?topic=492014.0 - not dead. and renamed Cheesy
13Darko
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March 04, 2014, 07:25:58 AM
 #527

We may do a one day mock IPO with testnet coins, so everyone can see how it works.

That would be nice.

So the IPO will start somewhere within the month (until April I guess)


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skycoin (OP)
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March 04, 2014, 01:29:40 PM
Last edit: March 04, 2014, 02:14:54 PM by skycoin
 #528

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

provenceday
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March 04, 2014, 03:32:01 PM
 #529

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


 Smiley nice!
tank
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March 04, 2014, 04:32:39 PM
 #530

I only have nxt but no btc,Can I send some NXT for the IPO?
Thanks

Sanglotslongs
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March 04, 2014, 04:59:31 PM
 #531

I only have nxt but no btc,Can I send some NXT for the IPO?
Thanks


You can trade NXT for BTC, it's easy, bter.com, cryptsy, poloniex etc.
Issac
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March 06, 2014, 01:38:20 PM
 #532

I read all the replies,skycoin is great, but the IPO is too expensive,how can I do?

lemfuture
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March 06, 2014, 10:57:03 PM
 #533

I read all the replies,skycoin is great, but the IPO is too expensive,how can I do?
how much?

1ADLcfwTofFXb95pKhebpeRkJ4WTWsvQXB
yshuifejng
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March 07, 2014, 05:43:29 AM
 #534

Continue to pay attention to the follow-up development ,I hope it is true.

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skycoin (OP)
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March 07, 2014, 06:56:05 PM
 #535

Development Updates:

- fixed coin hour calculation bug. Each coin is 1 million "droplets". Due to integer rounding error, user would not receive coinhours from output s with a balance less than one million droplets. Bug is fixed.
- Coinhour calculation is now based upon the block time of the previous block, not the block the transaction executed in.
- Unit tests in /src/coin are fixed
- RFC for wallet is being redone to support multiple coin wallets
- design for emergency messaging system is done
- more developers have joined the darknet/meshnet project

Launch Checklist:
- a new wire protocol is being developed for transaction propagation and block replication.
- refactoring of /src/blockchain and /src/visor


JakeThePanda
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March 07, 2014, 07:01:16 PM
 #536

Skycoin, when the offering is open, how will you make the announcement?  Will you update the OP, New thread, what?
lemfuture
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March 07, 2014, 07:31:10 PM
 #537

i hope this coin is trickier to hack than bitcoins  Roll Eyes for common people's sake

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March 08, 2014, 04:46:37 AM
 #538

Development Updates:

- fixed coin hour calculation bug. Each coin is 1 million "droplets". Due to integer rounding error, user would not receive coinhours from output s with a balance less than one million droplets. Bug is fixed.
- Coinhour calculation is now based upon the block time of the previous block, not the block the transaction executed in.
- Unit tests in /src/coin are fixed
- RFC for wallet is being redone to support multiple coin wallets
- design for emergency messaging system is done
- more developers have joined the darknet/meshnet project

Launch Checklist:
- a new wire protocol is being developed for transaction propagation and block replication.
- refactoring of /src/blockchain and /src/visor




great!
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March 08, 2014, 01:12:35 PM
 #539

This looks like an interesting idea, i'll keep an eye on it.
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March 08, 2014, 01:24:32 PM
 #540

Let me know when the ipo start my friends  Cool
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