[SKY] Skycoin Launch Announcement

[skycoin]

Can someone explain what the services are Skycoin will provide? By services I mean "remittance" or e-commerce / micro transactions which Bitcoin enables? Is Skycoin another Bitcoin with own code base that overcomes the design flaws of POW/Bitcoin? How does it enable mesh networks? And will Skycoin have applications beyond mesh networks?

Yes. Skycoin starts with security and usability. Skycoin eliminates the waste of mining and eliminates the 51% attack threat. Skycoin fixes signature malleability, hash collisions in coinbase outputs and several flaws in Bitcoin.

Then Skycoin adds a new, more usable wallet and features to make it easier to use than Bitcoin.  For instance, if you have Dogecoin in your Skycoin wallet and a merchant wants Bitcoin, you hit send and it will convert the Dogecoin to Bitcoin at an exchange at market rate and send the coins to the address. We are able to do conveniences like that. We want to support the major coins in the wallet and want to have receipts, messages and other improvements that streamline usage.

Then Skycoin is focusing on applications that drive adaption and utilize the coin. The mesh network is something we can get working quickly and see if it gets adaption. However, it just one application that we are working on. Skycoin is really an application stack and ecosystem.  Ethereum and several other projects are already using libraries that were developed under the Skycoin project.

Another example, Ethereum offers the ability to do computations in the blockchain and the Skycoin wire protocol is gradually adding support for "personal blockchains". So instead of having one global blockchain, each person can have their own blockchain, which is cryptographically secured and which the people who need the chain replicate. So it may end up making more sense to embed Ethereum's contract system and scripting language in "local" chains instead a single global chain (which can become bloated) and the moving assets between chains.  This could be the basis for an open transactions style crypto-securities system.

This is an example of a personal blockchain: https://github.com/skycoin/skywire/blob/master/chaintest.go

You generate a public key and only the person with the private key can mint new blocks, but everyone can replicate the chain if they know the hash of the public key. The block body can be any array of bytes. This is a major set forward for making it easy for developers to create new blockchain based applications.

Skycoin is not just a coin, but a set of libraries and standards.

[l4p7]

Can someone explain what the services are Skycoin will provide? By services I mean "remittance" or e-commerce / micro transactions which Bitcoin enables? Is Skycoin another Bitcoin with own code base that overcomes the design flaws of POW/Bitcoin? How does it enable mesh networks? And will Skycoin have applications beyond mesh networks?

Yes. Skycoin starts with security and usability. Skycoin eliminates the waste of mining and eliminates the 51% attack threat. Skycoin fixes signature malleability, hash collisions in coinbase outputs and several flaws in Bitcoin.

Then Skycoin adds a new, more usable wallet and features to make it easier to use than Bitcoin.  For instance, if you have Dogecoin in your Skycoin wallet and a merchant wants Bitcoin, you hit send and it will convert the Dogecoin to Bitcoin at an exchange at market rate and send the coins to the address. We are able to do conveniences like that. We want to support the major coins in the wallet and want to have receipts, messages and other improvements that streamline usage.

Then Skycoin is focusing on applications that drive adaption and utilize the coin. The mesh network is something we can get working quickly and see if it gets adaption. However, it just one application that we are working on. Skycoin is really an application stack and ecosystem.  Ethereum and several other projects are already using libraries that were developed under the Skycoin project.

Another example, Ethereum offers the ability to do computations in the blockchain and the Skycoin wire protocol is gradually adding support for "personal blockchains". So instead of having one global blockchain, each person can have their own blockchain, which is cryptographically secured and which the people who need the chain replicate. So it may end up making more sense to embed Ethereum's contract system and scripting language in "local" chains instead a single global chain (which can become bloated) and the moving assets between chains.  This could be the basis for an open transactions style crypto-securities system.

This is an example of a personal blockchain: https://github.com/skycoin/skywire/blob/master/chaintest.go

You generate a public key and only the person with the private key can mint new blocks, but everyone can replicate the chain if they know the hash of the public key. The block body can be any array of bytes. This is a major set forward for making it easy for developers to create new blockchain based applications.

Skycoin is not just a coin, but a set of libraries and standards.

Thanks for your reply.

Skycoin eliminates the waste of mining and eliminates the 51% attack threat. Skycoin fixes signature malleability, hash collisions in coinbase outputs and several flaws in Bitcoin.

Specifically, what mechanism do you want to use for selecting the party to find the next block? Proof of Stake? Something else. I haven't yet seen a meta description of that... 

For instance, if you have Dogecoin in your Skycoin wallet and a merchant wants Bitcoin, you hit send and it will convert the Dogecoin to Bitcoin at an exchange at market rate and send the coins to the address.

You would need a wallet that has an inherent market for that. Or would you just allow users to hold all kinds of coins in the one wallet and let them then spend whatever coin is required at a given exchange rate?

Ethereum and several other projects are already using libraries that were developed under the Skycoin project.

Can you point me to those libraries and/or a prove of Ethereum using them? Sorry for the dumb questions. Due diligence is necessary at a place where anonymous developers are doing IPOs...

Here is another question https://bitcointalk.org/index.php?topic=380441.msg6007937#msg6007937

The personal blockchains base, the wallet and all that is quite a big endeavour. What development time did you plan for all this? And who is "we"?

Thanks and kind Regards

[ljp7839008]

when is the release date?

[gs02xzz]

Is there a beta client for Window?

[skycoin]

The personal blockchains base, the wallet and all that is quite a big endeavour. What development time did you plan for all this?

Thanks and kind Regards

>You would need a wallet that has an inherent market for that. Or would you just allow users to hold all kinds of coins in the one wallet and let them then spend whatever coin is required at a given exchange rate?

We are able to expose exchanges as a Skycoin "service" in the wire protocol. There will be a single API and multiple exchanges implementing the API. Any exchange that runs an exchange service will be discoverable and automatically usable by the wallet. This is part of the "Gateway Protocol".

>. What development time did you plan for all this?

Personal blockchains are done.
- https://github.com/skycoin/skywire/blob/master/chaintest.go
- https://github.com/skycoin/skywire/tree/master/src/hashchain

The only thing left is the wire protocol for replicating the chain.

Exchange service is part of the "gateway protocol". The gateway protocol requires coin launch and several other components under development.

> Ethereum

We received pull request from them and they resolved the gmp dependency bug we had for OSX, so I am assuming they are using some of our libraries. Not too familiar with the code base. There are a number of golang coins in development and the toolchain is evolving faster than the Bitcoin mainline tool chain.

[LemonAndFries]

I'm not very technical on wireless systems.

I might run a node for this coin since I like the concept.

Making a guide on what is needed to run  a node for this will be very helpful.

If possible, a guide for raspberry pi also would be helpful.

[gs02xzz]

>You would need a wallet that has an inherent market for that. Or would you just allow users to hold all kinds of coins in the one wallet and let them then spend whatever coin is required at a given exchange rate?

We are able to expose exchanges as a Skycoin "service" in the wire protocol. There will be a single API and multiple exchanges implementing the API. Any exchange that runs an exchange service will be discoverable and automatically usable by the wallet. This is part of the "Gateway Protocol".

I think the Gateways and the third party exchanges are important. It can provide a trusted third party for users to trade coins when they are not able to trust each other. The inherent market will grow in the long run.

[skycoin]

Development Update:

The "services" architecture prototype is done.
link: https://github.com/skycoin/skywire/blob/master/poolExample2.go

Raw Socket/Connection Pool:
https://github.com/skycoin/skywire/blob/master/poolExample0.go

Connection Pool with Dispatcher Helper and message serialization/deserialization:
https://github.com/skycoin/skywire/blob/master/poolExample1.go

Services Architecture Prototype:
https://github.com/skycoin/skywire/blob/master/poolExample2.go

Each code example is more complex/higher level than the previous one.

A channel is like a port and each application/service receives messages on a channel. Each service has an object holding state and a set of messages (golang structs) it can receive and send, which are registered at service initialization. When a message is received, the Handle() message is called on the message.  Service have an OnConnect and OnDisconnect callback.

Channel 0 is reserved for a special service that initiates connections between other service and offers service introspection. The service on channel 0 will receive a connection/disconnect for all connecting/disconnecting clients. The channel 0 service mediates connections between services on different hosts.

In this example there are two services, SkywireDaemon (channel 0) and TestServiceServer (channel 1). A connection is created between the connection pools and SkywireDaemon is used to send a ServiceConnectMessage. The remote peer responds to the message and a connection between the TestServiceServer instances is made. This triggers the OnConnect callback on TestServiceServer. Then a TestMessage message is sent via the TestServiceServer instance and the Handle() method is called on the message on the receiving end.

You can run the example with `go run poolExample2.go`.

Blockchain synchronization and transaction relay will be exposed as "services". The service daemon (channel 0) will have functionality for finding peers for services (DHT, PEX), maintaining peer lists and handling connection timeouts.

This is a framework for creating distributed, peer to peer applications on the Skycoin Wire protocol. The top level will create a service daemon, import the desired services and then associate them with the service manager. This architecture enables extensibility through third party applications. This also enables multiple service server instances to be instantiated in a single daemon process, enabling clients to sync multiple blockchains with a single daemon and connection pool (important for personal blockchains and Obelisk servers).

[JessicaMILFson]

When you launch, are you going to have video tutorials, or things explaining this? Because I have no idea what the above means. It seems more complicated than Bitcoin, and adoption is a big concern if there is no way to simplify this.

[skycoin]

When you launch, are you going to have video tutorials, or things explaining this? Because I have no idea what the above means. It seems more complicated than Bitcoin, and adoption is a big concern if there is no way to simplify this.

This is for developers.  For end users, you will double click the icon and the wallet will pop up.

The bitcoin wire protocol is so complicated, no one knows how it works. I am leaving documentation on the Skycoin wire protocol that developers need to build applications.

[provenceday]

when skycoin will launch?

thanks

[allwelder]

Can someone explain what the services are Skycoin will provide? By services I mean "remittance" or e-commerce / micro transactions which Bitcoin enables? Is Skycoin another Bitcoin with own code base that overcomes the design flaws of POW/Bitcoin? How does it enable mesh networks? And will Skycoin have applications beyond mesh networks?

Yes. Skycoin starts with security and usability. Skycoin eliminates the waste of mining and eliminates the 51% attack threat. Skycoin fixes signature malleability, hash collisions in coinbase outputs and several flaws in Bitcoin.

Then Skycoin adds a new, more usable wallet and features to make it easier to use than Bitcoin.  For instance, if you have Dogecoin in your Skycoin wallet and a merchant wants Bitcoin, you hit send and it will convert the Dogecoin to Bitcoin at an exchange at market rate and send the coins to the address. We are able to do conveniences like that. We want to support the major coins in the wallet and want to have receipts, messages and other improvements that streamline usage.

Then Skycoin is focusing on applications that drive adaption and utilize the coin. The mesh network is something we can get working quickly and see if it gets adaption. However, it just one application that we are working on. Skycoin is really an application stack and ecosystem.  Ethereum and several other projects are already using libraries that were developed under the Skycoin project.

Another example, Ethereum offers the ability to do computations in the blockchain and the Skycoin wire protocol is gradually adding support for "personal blockchains". So instead of having one global blockchain, each person can have their own blockchain, which is cryptographically secured and which the people who need the chain replicate. So it may end up making more sense to embed Ethereum's contract system and scripting language in "local" chains instead a single global chain (which can become bloated) and the moving assets between chains.  This could be the basis for an open transactions style crypto-securities system.

This is an example of a personal blockchain: https://github.com/skycoin/skywire/blob/master/chaintest.go

You generate a public key and only the person with the private key can mint new blocks, but everyone can replicate the chain if they know the hash of the public key. The block body can be any array of bytes. This is a major set forward for making it easy for developers to create new blockchain based applications.

Skycoin is not just a coin, but a set of libraries and standards.

sounds much better

[farreli]

Its a very interesting proyect , a really cool idea. I will participate in the wireless mesh network...

[kripto]

Should port 5798 on my router be forwarded to the host running skycoin daemon to setup fully contributing node inside the skycoin network?

[yshuifejng]

Now skycoin is improving day by day.good job

[blueface]

when is the IPO date?I am in

[skycoin]

Development Update:
- the wifi controller library is a few days from completion
- the wallet update to new RPC is almost done
- the deterministic address hash function is being modified to use ECC curve multiplication instead of signature operations
- transaction relay is being moved out of daemon into the skywire repo
- blockchain replication is being moved out of daemon into the skywire repo
- all the unit test are broken or will be broken
- we wont have cross compilation of windows binaries from linux until golang version 1.3 is released. We hope binaries compiled from XP will run on windows 7

After the transaction relay and blockchain replication service is implemented in skywire, the IPO will start.

[l4p7]

How many people are working in skycoin and will the source code be released completely, possibly also a client, before or during the IPO?

[skycoin]

How many people are working in skycoin and will the source code be released completely, possibly also a client, before or during the IPO?

Yes. The source code is on github.  We are trying to release client before the IPO.

There are a bunch of people working on it. We are trying to improve coordination between the different groups. We are hiring more developers after the IPO and assigning coin bounties to speed up development.

[MadCow]

when is the IPO date?I am in

+1

A rough date for the IPO would be nice. I want to make sure my dance card is free on that date