[ANN][XCP] Counterparty - Pioneering Peer-to-Peer Finance - Official Thread

[Equality 7-2521]

The contract code is totally independent of the reorg code, which does a complete reparse of all transactions each time.

How are you going to solve such the problem (not very related to your reply but logically follows from it):

Some (most of?) contracts have state that must be stored or recomputed every time a node is launched. Recomputation is impractical for big number of active contracts, storing seems to be a better way. Storing the state locally is much cheaper than storing on the blockchain, but it means that a new node have to download the blockchain and recompute all state changes of all the contracts from the very beginning. At some point amount of computations may become very big slowing down blockchain analysis (recomputation) greatly.

Bitcoin already has the problem of ever-growing blockchain (low bandwidth problem), Counterparty adds the problem of ever-growing number of computations required for catching up the network (slow processor problem). Luckily processor speed grows faster than bandwidth but if max rate of blockchain growth is limited by 1 MB block limit, max contract complexity is not limited. A bad choice of fee for contract execution (similar to gas in Ethereum) may make it cheap to create such contracts that won't allow to compute them with the rate of 10 min/block. In this case we will observe "black hole" effect, blocks will be generated faster than analyzed and new nodes (and existing ones) won't be able to keep up the rate.

Does anyone know a possible solution to the problem described above?

Just have a smart contract that makes a hash of a file that stores the solutions to all the computations and share said file via DHT for example.

[gomei]

XCP is slight sliding, but I still hold coins,
my first 2nd coin is xcp. I enjoy the community.

[Come-from-Beyond]

Just have a smart contract that makes a hash of a file that stores the solutions to all the computations and share said file via DHT for example.

What if different nodes of the DHT return different values? (Here we back to square 1, we need a solution for decentralized consensus on the value of the hash).

[romerun]

Counterparty over POS coin is being discussed

http://www.peercointalk.org/index.php?topic=3594

[Come-from-Beyond]

Counterparty over POS coin is being discussed

http://www.peercointalk.org/index.php?topic=3594

It doesn't make sense to use Counterparty over majority of PoS coins. These coins already have instruments offered by Counterparty. "Dumb" coins like Bitcoin is the only application, adding an extra level of indirection on "smart" coins gives more cons than pros.

[PhantomPhreak]

The contract code is totally independent of the reorg code, which does a complete reparse of all transactions each time.

How are you going to solve such the problem (not very related to your reply but logically follows from it):

Some (most of?) contracts have state that must be stored or recomputed every time a node is launched. Recomputation is impractical for big number of active contracts, storing seems to be a better way. Storing the state locally is much cheaper than storing on the blockchain, but it means that a new node have to download the blockchain and recompute all state changes of all the contracts from the very beginning. At some point amount of computations may become very big slowing down blockchain analysis (recomputation) greatly.

Bitcoin already has the problem of ever-growing blockchain (low bandwidth problem), Counterparty adds the problem of ever-growing number of computations required for catching up the network (slow processor problem). Luckily processor speed grows faster than bandwidth but if max rate of blockchain growth is limited by 1 MB block limit, max contract complexity is not limited. A bad choice of fee for contract execution (similar to gas in Ethereum) may make it cheap to create such contracts that won't allow to compute them with the rate of 10 min/block. In this case we will observe "black hole" effect, blocks will be generated faster than analyzed and new nodes (and existing ones) won't be able to keep up the rate.

Does anyone know a possible solution to the problem described above?

Certainly reorgs can be handled another way if it ever came to that (e.g. with frequent database snapshots---disk space is the cheapest). Moreover, there isn't a strong correlation between the value of a contract and its computational complexity. The fees will be determined in some organic manner (e.g. proof-of-stake vote) so that they'll pay for the computation time fairly (i.e. those that decide the fee will be incentivised to keep it reasonably priced). All in all, the system is much more elegant than Ethereum's, because there is no arbitrary miner/full-node distinction, and higher fees don't mean more miners and therefore also more unnecessary computation. As you suggest, I'm pretty sure that bandwidth will be a bigger problem (for blockchains in general) than computation of smart contracts.

[Jpja]

[ANN] Token Website Redirect

http://{token}.xcp.pw redirects to the token's website if a URL is included in the token's description.

Examples:
http://ltbcoin.xcp.pw
http://swarm.xcp.pw
http://fldc.xcp.pw
http://tatianacoin.xcp.pw

If the description does not include a URL, the user lands on a page with a a brief description of the token and a link to its Blockscan page; e.g. http://xgem.xcp.pw/

For Dogeparty tokens use xdp.pw, e.g.:
http://dogetunes.xdp.pw
http://dailydoge.xdp.pw

[jrmg]

Anyone know what is going with Swarm? They don't answer emails with weeks, their own forum not updated months and now that is also down. Their webpage no working long time right in half of web browsers and they don't update own forum section under Counterparty forum...?  Why they even have last one under Counterparty forum?

And what you do with Swarm coins, no other place to asking this. Where their price coming?

[Mainbrain]

think this's good concept.

[deliciousowl]

think this's good concept.

It's not a concept, it's working software  

[ANN] Token Website Redirect

http://{token}.xcp.pw redirects to the token's website if a URL is included in the token's description.

Amazing, thanks!

Anyone know what is going with Swarm? They don't answer emails with weeks, their own forum not updated months and now that is also down. Their webpage no working long time right in half of web browsers and they don't update own forum section under Counterparty forum...?  Why they even have last one under Counterparty forum?

And what you do with Swarm coins, no other place to asking this. Where their price coming?

The Swarm category on the Counterparty forums does not refer to SWARM. It is coincidentally named the same for some reason... Here is their own thread: https://bitcointalk.org/index.php?topic=664071.0

Also, the SWARM founders are in their Skype chat regularly: skype:?chat&blob=zxYZ3oyHUCoiPnoSw8xwTLK-n3uEdVXn0vJLrC9aqFJ5JRMI8SoRy5a8_x6vjvtEbihAgIn6RO3eRkmE_RiVA2Z5zCAbj5InzHatOwOxGRcx3WlXUkzZJr3SuepTCILIbhxmor9-FsBJTdc2KnOcq21Zy0obqkR-0TT5dKcF0BF2HY1JC4p8Ip1HA5HwFErJDWfMG-KM5Lt7BRIBww

For example, this was posted yesterday:

Here's the notes from the cryptoequity workshop at Harvard last week:
 https://drive.google.com/file/d/0B1CtgrRD63NJSVljQzF6Tm10RFlwT3FHa3E5djZMR3NZSzBB/view?usp=sharinghttps://drive.google.com/file/d/0B1CtgrRD63NJSVljQzF6Tm10RFlwT3FHa3E5djZMR3NZSzBB/view

[jrmg]

Thanks for answer. I thought both Swarm mean same.. That make me little confused..

[sucksyd]

To invest in XCP and Counterparty, switch Bitcoind/Bitcoin-Qt and counterpartyd over to mainnet simultaneously. Use the command-line switch -testnet=0 with Bitcoind or remove any 'testnet=1' from the Bitcoind configuration file temporarily; then do the same for counterpartyd by both not using the --testnet flag and (again, temporarily) removing 'testnet=1' from counterpartd.conf.

Make sure that Bitcoind and the counterparty server are running, and then run ./counterparty --rpc-password=PASSWORD burn --from=ADDRESS --quantity=QUANTITY, where 'PASSWORD' is the password used to access Bitcoind's RPC interface, 'ADDRESS' is an address in your Bitcoind wallet with sufficient bitcoins, and 'QUANTITY' is the quantity of BTC that you would like to burn.

No more than 1 BTC may ever be burned by any address, and the number of XCP received per BTC is between 1000 and 1500, with more XCP being rewarded the earlier in the burn period the burn takes place. The burn period is 5000 blocks, starting today, and the reward bonus decreases linearly with block index.

To see how many BTC you have burned, and how many XCP you have earned, run ./counterparty --rpc-password=PASSWORD address ADDRESS.

Of course, you can burn Test BTC on testnet to have XCP to play with there.

To get a rough idea of how many BTC have been burned so far, see https://blockchain.info/address/1CounterpartyXXXXXXXXXXXXXXXUWLpVr. Note that this page may show some false positives. You cannot just send bitcoins to that address with any client and expect to have them be properly burned. For more instructions on how to burn, e.g. with a Blockchain.info wallet, see Read The Docs.

The burn period is over. Try out the distributed exchange!

Quote from: loveyouforever on Today at 06:33:27 AM
You son of bit*h, now you are happy, fk your mother and sister, don't contact Xnova again, you bit*h.

xnova,I hardly blame you for not answering me through pm,but why do you transcript my pm to this chinese guy?now we can see this guy is part of tilescam.where is ur dignity and respect?

[deliciousowl]

I really like that XCP = Deflationary Smart Contracts Fuel.

That leaves a lasting impression.

[BldSwtTrs]

I really like that XCP = Deflationary Smart Contracts Fuel.

That leaves a lasting impression.

Yeah deflationary and also not premine, unlike ETH.

[pankogulo]

Hi guys, here's the latest Counterparty development update http://counterparty.io/news/counterparty-development-update-3/

[deliciousowl]

Hi guys, here's the latest Counterparty development update http://counterparty.io/news/counterparty-development-update-3/

We have enabled full multisig support in Counterwallet. You can create multisignature addresses, view their balances, create transactions and sign them within the wallet. These features are currently available only in develop. Feel free to give them a try and report any bugs you encounter.

Hurray!

[weex]

Hi guys, here's the latest Counterparty development update http://counterparty.io/news/counterparty-development-update-3/

We have enabled full multisig support in Counterwallet. You can create multisignature addresses, view their balances, create transactions and sign them within the wallet. These features are currently available only in develop. Feel free to give them a try and report any bugs you encounter.

Hurray!

Is this available now in the hosted testnet Counterwallet or does anyone have this running anywhere so we can try it?

[pbleak]

Some nice market movement there. Can any of you guys answer a dumb question for me (i.e. yes I could read up, but I am curious whether the following can be explained in layman's terms).

If I pick up a few XCP am I limited to an online wallet? Or has anyone developed an alternative. I prefer to keep my coins offline. However, this is more an asset and so I presume exists almost as if in the cloud?

[GeminiSimba]

Some nice market movement there. Can any of you guys answer a dumb question for me (i.e. yes I could read up, but I am curious whether the following can be explained in layman's terms).

If I pick up a few XCP am I limited to an online wallet? Or has anyone developed an alternative. I prefer to keep my coins offline. However, this is more an asset and so I presume exists almost as if in the cloud?

You can go to bitaddress.org and print a new Bitcoin public/private key pair. Then send your XCP to that address. If you ever want to redeem those XCP you go to counterwallet and import the private key.

[pbleak]

Some nice market movement there. Can any of you guys answer a dumb question for me (i.e. yes I could read up, but I am curious whether the following can be explained in layman's terms).

If I pick up a few XCP am I limited to an online wallet? Or has anyone developed an alternative. I prefer to keep my coins offline. However, this is more an asset and so I presume exists almost as if in the cloud?

You can go to bitaddress.org and print a new Bitcoin public/private key pair. Then send your XCP to that address. If you ever want to redeem those XCP you go to counterwallet and import the private key.

Perfect, thanks for the quick answer