[PRE-ANN][NUM] Nummum

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[PRE-ANN][NUM] Nummum

January 05, 2014, 11:47:49 AM
Last edit: January 07, 2014, 01:01:22 AM by Nummum

Nummum

Nummum is yet another alternative crypto-currency with code based on bitcoin core developer Jeff Garzik's libccoin and picocoin.

Nummum's main purposes are educational (for me) as well as experimental. All the better if it has some benefit for others too.

Nummum does not re-invent the wheel. It takes several working crypto-currency concepts and amalgamates them into a single modular and scalable solution.

It is very much a work in progress. Most of the features in the feature list have not yet been implemented (see TODO lists) so at the moment it is more of a wish list than a feature list.

All forms of contribution and constructive criticism are most welcome.

Key Features

No pre-mining
Built-in pseudo-anonymity as well as an ūber-anonymous module with Zerocoin-like functionality
P2P pool mining module with p2pool-like functionality
Messaging module similar to Bitmessage for messaging between addresses
Coloured coin / token module
P2P exchange module that uses the DML/chan feature of the messaging module to announce, discover and agree potential trades then set up trading contracts (needs more thought)
See Trading across chains
Gambling / betting module that uses the DML/chan feature of the messaging module to announce, discover, agree and settle wagers
Ability to add other crypto-currencies as a module
Ability to add tax module for governmental use
Unlike bitcoin, which is the name of network, the protocol, the client and the currency unit (sometimes confusing when explaining to new users) Nummum has a slightly different name for each of these layers
Reference client can operate as either a full-chain client or a header-only client (SPV mode)
See Thin Client Security
Reference client can optionally use a truncated block chain
Initial block reward 255
Gradual, non-linear decay of block reward
Block reward never reaches 0. Starts at 255 then gradually reduces to and settles at 1 after ~51 years
Ūber-anonymity incurs a larger fee
Block interval 63 seconds
Difficulty adjustment every block, calculated using a moving average
Uses SHA-3 (SHAKE-512 instead of SHA-256 and RIPE-160)
Uses scrypt
Uses Proof of Work / Proof of Stake hybrid (maybe not, needs more thought)
Currency units divisible to 9 decimal places
Written as a C library (libnummum) with reference executables including a relay daemon (commeō), a Nummum client (nummus) and a messaging client (nūntius)
Each module written as a C library

Definitions

https://en.wiktionary.org/wiki/nummus

Nummum
The protocol
Nummnet
The network
nummus
The reference command line client
nummulus
The reference GUI client
Nummō (singular) & Nummī (plural)
The currency units
Currency Symbol
# (Number / hash symbol)
Currency Code
NUM
Anonummum
The ūber-anonymous module of Nummum (https://www.youtube.com/watch?v=8N_tupPBtWQ)
Numminas
The P2P mining pool module of Nummum
Nūntium
The P2P messaging module of Nummum
Exonummum
The coloured coin / exonumia / token module of nummum
Cambium
The exchange module
Bitcoinum
The bitcoin module
Āleārum
The gambling and betting module
Tribūtum
The tax module where taxes may be deducted at transaction source
commeō
A reference relay daemon
nūntius
A reference command line messaging client
nūntiō
A reference messaging client GUI
Codex
The ledger / block database
Cassifile
The nummus and nūntius wallet and keystore
Motto
Nummus parit nummōs

Code:

scale=9
initial_reward=255
block_interval_seconds=63
final_reward_reduce_interval_blocks=4194303

reward_reduce_interval_blocks=0
total_nummi=0
total_time=0
year_in_seconds=60*60*24*365

for (i=initial_reward; i>=1; i--) {
	reward_reduce_interval_blocks = final_reward_reduce_interval_blocks/i
	total_nummi += reward_reduce_interval_blocks*i
	total_time += reward_reduce_interval_blocks*block_interval_seconds
}

"Total nummī in existence after final reward reduction = "; total_nummi
"Time to final reduction to 1 nummō reward (years) = "; total_time/year_in_seconds
"Total nummī rewarded per year when reward is 1 nummō = "; year_in_seconds/block_interval_seconds
"Percentage of total nummī rewarded per year when reward is 1 nummō = "; ((year_in_seconds/block_interval_seconds)/total_nummi)*100
quit

give the following results :

Total nummī in existence after final reward reduction = 1069547264.999985588 Time to final reduction to 1 nummō reward (years) = 51.283339378 Total nummī rewarded per year when reward is 1 nummō = 500571.428571428 Percentage of total nummī rewarded per year when reward is 1 nummō = .046802100

Source Code

https://github.com/Nummum/Nummum

Further Reading

http://nummum.github.io/Nummum

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