[ANN] [ASIC-RESISTANT] UltraCoin (UTC) - Ultrafast 6 second transactions!!

Please Note: This thread is self moderated. Trolling and baseless accusations will be removed without consent. Please mind your manners and report incidences of malice accordingly. Thank you and enjoy!

Wallet:

NOTE for v1.5:

Code:

Go to the debug window, console and type "getmininginfo" if you want to utilize this new feature. This update is NOT mandatory.

Example:

Use "networkhashps/1000^3=hashrate in ghash/s" to calculate

Source Code (Developers Only): Download | Mirror
Linux GPU Miner Source (Developers Only): Download

Miners:

CPU Mining: Open the console from within the Wallet and type "setgenerate true" to start mining
Windows GPU | Mirror
Mac GPU
Linux GPU - BAMT 1.3 Stable

Helpful Links:

https://crypto-trade.com/
https://www.coinmarket.io/ BETA Software
http://binaryfund.co.uk/ Trading Soon!
https://poloniex.com/exchange/btc_utc

Potential Exchanges: These exchanges may require voting or BTC donations to list UTC. Please vote!

AllCrypt - Voting and BTC Donations
MintPal - Voting and BTC Donations
CryptoRush
Cryptsy - Tweet to @crypsty to get UTC listed!

Ultracoin is a hybrid proof-of-work / proof-of-stake coin, whereby active nodes are involved in the mining of blocks if they hold Ultracoin. With Ultracoin you can send and receive currency worldwide to friends, family or business partners. You may even exchange it for other currencies or simply use it to buy goods. Miners are currently awarded with 50 new Ultracoins per block, an amount which gets halved roughly every 990.000 blocks. The Ultracoin network is therefore scheduled to produce 100 million Ultracoins, which is almost 4.5 times as many currency units as Bitcoin.

Ultracoin can be mined with both CPU's and GPU's. Furthermore, with an ASIC resistant Scrypt Jane base, you can feel at ease. This will ensure that you won't be surprised by new hardware technologies. UTC is a hybrid proof-of-work/proof-of-stake coin, whereby active nodes are involved in the mining of blocks if they hold UTC.

Total coins: 100,000,000
Premine: 2% (2 million UTC, please view public premine distribution ledger below within the Orginal Post sub-text)
Block time target: 30 seconds
Block reward: 50, halving every 990,000 blocks
Difficulty retarget:max 200% per 30mins
Mined block confirmation: 50
Transaction confirmation: 5
NFactor Integration
Port: 44100
Rpc port: 44101

Please stand by as we work to bring you the utmost best in UTC promotions from lotteries, bounties, and more!

How do I solo mine?

Code:

Create an ultracoin.conf within your %APPDATA% folder and add these lines:
 
 rpcuser=youruser 
 rpcpassword=yourpassword 
 rpcallowip=127.0.0.1 
 daemon=1 
 server=1 
 listen=1 
 
Start the ultracoin client, edit solo_mining.bat with the specified user and password, and run the .bat. Enjoy mining! 
NOTE: Please set expiry = 1, scan time = 1, and queue = 0 in cgminer to receive lower rejects. Thanks!

What is Proof of Stake?

Code:

20% interest per year if you:

1. Have UTC in wallet
2. Don't spend it during that year 
3. Have wallet online all year
4. Have wallet unlocked for minting, do this like so:
    - Open debug window, then console, then type: 'walletpassphrase' yourpassword '999999999' true

In Depth Explanation of POS: https://en.bitcoin.it/wiki/Proof_of_Stake

Can you please explain the details of the pre-mine?

Code:

Absolutely! In fact, it has already been laid out. Please peruse the content of the original post below for the in-depth answer.

Original Post:

Code:

Hello, 
 
I would like to take this opportunity to announce the release of our coin called :[b]Ultracoin (UTC)[/b] on [u]February 1st[/u].

[b]which is asic-resistant[/b]

 
We have been working hard to finalize our coin, and I have been fortunate enough to work with a team consisting of a good dev and a professional external consultant to help guide the entire process. We have also commissioned custom pool software with real time API data to our website to track various statistics, such as users, hashrates and current difficulty.
 
You may know me (bumface) as a chat moderator on btc-e, however i would like to emphasize the fact that this coin is [u]not[/u] an affiliate of btc-e, but a personal endeavour with a proper team. 
 
Through our common love for crypto we got together as equal partners to make this coin a reality. We have offered rewards in BTC and UTC for many jobs, and some jobs are still open (Please view the 'Rewards and Bounties' section.)

We are currently in negotiations with multiple exchanges

 
Announcement 	                        : 13 jan.
Launch and 		                : February 1st.
Mining start                                : X

We have this logo as a temperary logo, we have commissioned a logo by a real graphic designer, if this does not work out, we will organise a competition with a reward.


[size=10pt][size=10pt][size=10pt]Launching time:7:00PM UTC
[url=http://www.timeanddate.com/countdown/generic?iso=20140201T20&p0=16]http://www.timeanddate.com/countdown/generic?iso=20140201T20&p0=16[/url]


Website:http://www.ultracoin.net/

#ultracoin on [url=http://webchat.freenode.net/]http://webchat.freenode.net/[/url]
 
[i]Please view the technical specifications and information below: [/i]
 
 
-2 equal partners (ziggy and bumface)

-Scrypt-jane  
 
-Pow/Pos 

ultracoin is a hybrid proof-of-work/proof-of-stake coin, whereby active nodes are involved in the mining of blocks if they hold utc.
this will give a strong incentive to a. hold coins and b. be an active node (e.g. have wallet open/running) on the network.

this means that, under certain circumstances, you may accrue 20% proof-of-stake interest per year on the coins you own.

a good source for more information is https://en.bitcoin.it/wiki/Proof_of_Stake
 
-Total coins: 100,000,000 
 
-Premine: 2% (2 million UTC, please view public premine distribution ledger below.) 
 
-Block time target: 30 seconds 
 
-Block reward: 50, halving every 990,000 blocks 
 
-Difficulty retarget:max 200% per 30mins
 
-Mined block confirmation: 50 
 
-Transaction confirmation: 5 
 
-Port: 44100 
 
-Rpc port: 44101 
 

[u]Windows-qt client:[/u]
[url=https://mega.co.nz/#!M9cCAaCZ!PUnxoWI8GfUgDTkwRK9NsPLrjsFQxvsMreFND6FXV_Q]https://mega.co.nz/#!M9cCAaCZ!PUnxoWI8GfUgDTkwRK9NsPLrjsFQxvsMreFND6FXV_Q[/url]

[color=red]OFFICIAL POOL 1: [/color][url=http://www.ultracoinpool.com]www.ultracoinpool.com[/url]  NOT open yet for registration

[u]CPU Mining:[/u] Open the console and type setgenerate true to start mining.
 

[color=red][u]GPU Miner:[/u] [/color]

[url=https://mega.co.nz/#!AwkFGQRR!LYwU5DXzLeVKyTXpVsNgNifre8ANFxHUVHwgt0Q-rZs]https://mega.co.nz/#!AwkFGQRR!LYwU5DXzLeVKyTXpVsNgNifre8ANFxHUVHwgt0Q-rZs[/url]
 
 Open ultracoin.conf and add these lines:
 
 rpcuser=youruser 
 rpcpassword=yourpassword 
 rpcallowip=127.0.0.1 
 daemon=1 
 server=1 
 listen=1 
 
 Start ultracoin client, edit solo_mining.bat with user and password, run the .bat, done. 
 
please set expiry = 1, scan time = 1, and queue = 0 in cgminer to lower rejects.

[u]logos:[/u] 
[url=http://nl.tinypic.com/view.php?pic=hu5dzq&s=5#.UtRZGPTuLkJ]http://nl.tinypic.com/view.php?pic=hu5dzq&s=5#.UtRZGPTuLkJ[/url]
 
[u]Source:[/u] 
[url=https://github.com/ziggy909/ultracoin]https://github.com/ziggy909/ultracoin[/url] 

[u]Twitter:[/u] [url=https://twitter.com/official_utc]https://twitter.com/official_utc[/url]
 
------------------------------------------------------------------------------------------------------------- 
 
[i]-Why is there a premine?[/i] 
 
 
You will probably have noticed a 2% premine, allow me to explain why we did this. We wish to be open about every single coin in existence, so you may see where it went and why. 



[b]Public premine distribution ledger:[/b] 
 
[u]-1.600.000 UTC[/u] are available to purchase by any potential stakeholder (Please view stakeholders proposition below.) in an open bidding system with a minimum bid of 0.00005[btc]              
 
 
[u]-100.000 UTC[/u] go to partner 1:[u]Ziggy[/u] (dev)                                                                                                                      
 
[u]-100.000 UTC[/u] go to partner 2:[u]bumface[/u] (founder)                                                                                                                
 
 
[u]-100.000 UTC[/u] go to our professional external consultant. (as well as 5 btc)                        
 
[u]-100.000 UTC[/u] go to rewards for jobs done by any capable developer, for example: making an android wallet, or making a working  
mining pool with real-time API data link to our main website. (also btc rewards)
 

 
 
Please note that every partner gets [u]0.1%[/u] of the total number of coins, we feel this is not unreasonable as a compensation for our time and investment. 
 
We will have the balance of our wallets visible on our homepage  so everybody can see when we sell coins from our personal wallet. The reason we do this is because we feel there are too many coins where the premine is left unexplained and there are vague wallets with unidentified coins and owners. 

We hope that this will foster a good relationship with the community.
 
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------  
 
[b]What is different about Ultracoin??[/b]

Let be honest, the code is not the most difficult part of an endeavour like this,although scrypt jane is not the easyest thing to do because of enhanced asic resistance.

So what is left then? ......the team.The people behind it. What is their intention? what is their vision?


Ultracoin has employed many influential people for ammounts like 5 btc, 10 btc and 15 btc per person as well as UTC rewards.Every person brings a different skillset to the table and is hard at work to make things happen for UTC.

It is not yet super evident to the public how this will unfold into actual results, but if you keep an eye on us you will see many fast and wonderfull developements.


Without this kind of support a coin is just a coin, and has no real future.We wish to stand out from a legion of altcoins and with the building of this community we will achieve that.
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ 
 
[b]Stakeholders proposition[/b]

BIDDING IS CLOSED<EXPECT A REPLY TODAY< WE MIGHT BE ABLE TO ACCEPT (ALMOST) ALL BIDS>STAY TUNED

ALL OFFERS ACCEPTED, NOBODY REJECTED
 
The reason we want to sell of coins during the launch is because not everybody has an ability to mine coins, this would give an unfair advantage to early miners. 
They would get a fairly large amount of coins due to low difficulty, giving a great advantage over traders who have to wait until our coin is accepted on exchanges. 
 
 
 
[i]Stakeholders rights:[/i] 
 
Stakeholder have a right to be anonymous for as long as they please (including in perpetuity). 
 
 
 
[u]A total of 1,600,000 UTC will be available to purchase[/u] right after the UTC launch by anybody who desires to do so. These 1.600,000 UTC will come out of the 2% premine, [u]not[/u] on top of it. This means 98% (98 million UTC) of all coins can be mined by anyone with a GPU or CPU. 
 
We will accept open offers with a coin amount and price of your choice (with a minimum bid of 0.00005 btc per unit of UTC), and will select people until all 1,600,000 UTC is sold. 

We will launch as on February 1st, however you may make an offer to us now as of [u]now[/u].

Please send your offer to [b]X[/b]. Offers will be entertained and replied between 13-1-2014 and 27-1-2014



this offer must include:

- your (nick) name this name will be on our website along with your UTC adress to offer total transparancy, if you wish to remain anonymous put an X here.

-The ammount of UTC you wish to purchase

-Your UTC unit price (with a minimum of 0.00005[btc]) and the totals in UTC and BTC.




[i]Example message:[/i] 

name			 : billy
UTC amount	 : 10.000 (ten thousand)
unit price		 : 0.00005
total			 : 0,5[btc]


you may copy & paste this

name			 : 
UTC amount        :
unit price		 :	
total			 :      [btc]

If your offer is accepted you will recieve an adress to send [btc] to, and as soon as we have received and verified your [btc], you will receive an e mail confirming your payment.We will destribute all the wallets to stakeholders on the same day as the wallet link goes up, and then you will recieve your coins( this is to prevent early mining and also reduce chance of 51% attack


please note that verification will not be optimal in the beginning since we need the miners to act as nodes (Custom pool software is being built).


 


------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------


[i]-What will happen with the [btc] that comes in?[/i] 


 
A portion of this amount will be used for rewards and bounties to further the development of Ultracoin (please view the rewards and bounties section below), as well.
 
The remainder of the BTC will be divided under the 2 equal partners to recoup the investment in this coin, and yes, we will also earn [btc] with this endeavour.
 
Also note that we are in this thing for the long haul and we are thinking long term, so because we might sell our coins years from now, the 2 partners will take some BTC at the start from the stakes that are sold. 
 
We have no intention of dumping our coins when it reaches a certain value and then abandon this project. We would also like to state that we have no intention of becoming the next hype coin, with a massive rise in the first week and then a downwards slope without recovery. If this is what you desire there are many hypecoins to choose from, but that`s not us. 
 
Bitcoin took 5 years to get to this level, so we have all the time in the world. We would rather have slow growth towards a truly stable coin than the next hype coin. 


[i]Please note that we would also like to ask larger stakeholders to sell responsibly right after launch, so that a healthy market may form.[/i]



------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ 
 
[b]Rewards and Bounties [/b]
 
 
We will be giving rewards/bounties for certain jobs paid in BTC and/or UTC.



Our dev will review your work, and if it is selected we will launch it for a 2 week evaluation period in which the community can use it so we may test it for flaws and bugs.
 
After the work has passed the quality norm,you will receive your reward, and it will be visible on our homepage. 
 
such jobs include: 
 
-Blockchain explorer       -     7500 UTC 

-Android wallet              -     3000 UTC
 
-Mac wallet                   -     3000 UTC

-mac os gpu miner         -     3000 UTC

-Linux wallet                 -     3000 UTC
  
-Linux gpu miner            -     3000 UTC


If you feel you are a capable developer, you may start one of these jobs at once, please announce that you are working on it on this thread.

------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ 
 
 
We hope to have informed you properly and openly about our project and we know that we are nothing without acceptance from the community. Crypto is an open market and we hope we can provide a stable coin with a proper and dedicated team behind it, however the community will decide our success or failure so please join us and make ultracoin a success. 
 
Thank you :D

	Author	Topic: [ANN] [ASIC-RESISTANT] UltraCoin (UTC) - Ultrafast 6 second transactions!! (Read 946611 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic.