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Author Topic: Electrum - State of the Alloy  (Read 15738 times)
ThomasV (OP)
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January 22, 2014, 07:28:16 PM
Last edit: January 22, 2014, 09:42:06 PM by ThomasV
 #1

Dear Bitcoiners,

Since the 1st of january I have officially left my previous job (computer scientist at INRIA) in order to work full time on the development of Electrum. My plan is to create a company, Electrum Technologies, that will distribute the Electrum software, and sell related services. This company project is now officially supported by the incubator of the french region Lorraine (http://incubateurlorrain.org/ ); we signed the contract yesterday.

I am now working on version 2.0 of Electrum. The following features are under development:

1. A Patricia tree data structure, also called "Ultimate Blockchain Compression", will be implemented in Electrum servers. This data structure allows a client to get the balance of any address instantly, and it will also generate a "proof of completeness" (the root hash of the patricia tree), that can be used to check that the server sent all UTXOs related to a given address to the client. A first implementation of this patricia tree was recently completed, and is available in the 'fulltree' branch of the Electrum server. This prototype uses a 256-way branching, and can import recent blocks at 2s/block. Following maaku's suggestion ( https://github.com/maaku/bips/blob/master/drafts/auth-trie.mediawiki ), I plan to upgrade it with binary branching. I also look forward to maaku's C++ implementation, which should be much faster than Python.

2. Version 2.0 will use BIP32 wallets with multiple accounts (this feature was initially planned for 1.9, but it had to be postponed)
Some of these accounts will have no "gap limit", so that merchants can create arbitrary numbers of addresses without messing with the internal parameters of their wallet.

3. Version 2.0 will have a daemon mode, that remains always connected, and that can be queried with json-rpc. This means that shell scripts will be able to use multiple Electrum commands without without opening and closing sockets for each command.

4. A 2-factor authentication service using multisig addresses is under development, that will be available in Electrum through a paying plugin. I made a demonstration of that service in Barcelona last fall, during the meeting organized by genjix. I am now working with lawyers, in order to define the terms of use for that service.

The ETA for version 2.0 (including points 2 and 3) is about 1 month from now. The multisig service (4) will probably require an extra month in order to be finalized.

I am looking forward to the coming months, and I hope to deliver the best possible software.

Thomas

Note: I will attend the Berlin conference in february; send me a note if you want to meet me there.

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January 22, 2014, 08:27:10 PM
 #2

Congratulations. This is awesome, seriously.

My main BTC/XCP address is 1111127SpvabYpoeDoiz5L7QPkfiSh2Q.
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January 22, 2014, 09:12:15 PM
 #3

Great news Thomas! Go Electrum!

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January 22, 2014, 09:15:41 PM
 #4

That sounds great dude! I wish you all the luck in the world Wink

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January 22, 2014, 11:02:38 PM
 #5

thanks! Just a clarification:
Electrum will always remain open source.
I would never trust a closed source bitcoin client, and you should not.

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January 23, 2014, 06:48:56 AM
 #6

thanks! Just a clarification:
Electrum will always remain open source.
I would never trust a closed source bitcoin client, and you should not.
That is good to hear. Open sourcing your software isn't a bad thing at all (except when people fork your stuff and people come to me to complain about the forked code, because it's outdated and non-functional). It's a great way for people to see how it works and it's great for you, because people can help you find and fix bugs.

By the way, do you intent to keep Electrum free or are you going to charge something for it / do you intent on creation a "Pro" version? Just wondering Wink
Once again, good luck!

.
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January 23, 2014, 08:50:26 AM
 #7

By the way, do you intent to keep Electrum free or are you going to charge something for it / do you intent on creation a "Pro" version? Just wondering Wink
I intend to keep it free. The company will sell extra services, it will not sell the software.

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January 23, 2014, 10:20:12 AM
 #8

Congratulations, Thomas!

Will you also be at the Foundation-organised conference in May? I will be visiting Berlin at the end of Feb but I think that's not the right time for any Bitcoin conference there.
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January 23, 2014, 11:57:14 AM
 #9

By the way, do you intent to keep Electrum free or are you going to charge something for it / do you intent on creation a "Pro" version? Just wondering Wink
I intend to keep it free. The company will sell extra services, it will not sell the software.
Sounds good. I hope you earn a fair buck from this Wink

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January 23, 2014, 02:50:21 PM
 #10

Congratulations, Thomas!

Will you also be at the Foundation-organised conference in May? I will be visiting Berlin at the end of Feb but I think that's not the right time for any Bitcoin conference there.

thanks!
this is the conference I was talking about: http://insidebitcoins.de/
I did not know about Amsterdam, but I will try to go there as well.

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January 23, 2014, 03:24:59 PM
 #11

A convention in Amsterdam? About Bitcoin? When, where and how can I join?
Sorry for asking this off-topic question. But I don't want to miss another Netherlands-based convention.

.
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January 23, 2014, 03:51:53 PM
 #12

A convention in Amsterdam? About Bitcoin? When, where and how can I join?
Sorry for asking this off-topic question. But I don't want to miss another Netherlands-based convention.
http://www.bitcoin2014.com/

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January 23, 2014, 03:57:19 PM
 #13

I was told by another forum member that Electrum supports offline signing of tx's via QR codes - can you confirm that?

If this is true then would you also consider the idea of signing an arbitrary small message with a Bitcoin signature (which could be used to "login" to a website entirely via QR)?

With CIYAM anyone can create 100% generated C++ web applications in literally minutes.

GPG Public Key | 1ciyam3htJit1feGa26p2wQ4aw6KFTejU
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January 23, 2014, 04:24:44 PM
 #14

A convention in Amsterdam? About Bitcoin? When, where and how can I join?
Sorry for asking this off-topic question. But I don't want to miss another Netherlands-based convention.
http://www.bitcoin2014.com/
I must go! Thanks for the link dude Wink I will now stop posting off-topic stuff.

.
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roy7
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January 23, 2014, 04:27:38 PM
 #15

Support for alt coins would be appreciated. Smiley
Abdussamad
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January 23, 2014, 11:17:46 PM
 #16

Nice!

Also 2.0 has a lot of features. About 3, that sounds a lot like http keepalive for electrum.
Daily Anarchist
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January 24, 2014, 12:27:50 AM
 #17

Will 2.0 make it to the Debian 8 stable repo?

Discover anarcho-capitalism today!
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January 24, 2014, 07:59:16 AM
 #18

Oh !!!

Didn't know that electrum was a french Product Smiley
Did you plan to use Qt5 Qml for next version ?

And if you plan in the future to hire a developper i'm the author of BitPurse, a little client for the Maemo / MeeGo (mobile linux) plateform (python / qml) Smiley

Good luck !

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January 24, 2014, 11:25:50 AM
 #19

Great to hear that you are working on Electrum fulltime now ThomasV !

As I expect you know, Gary and I are working on an HD compatible version of MultiBit.
Mike is refactoring bitcoinj to add in HD support.

The code is closed alpha at the moment (we will open it once it goes into beta but we are still tinkering at the moment).

I think it would be a good idea if we made sure the HD wallets in Electrum 2.0 and MultiBit HD work seamlessly together. When we get it all working in MultiBit HD would you like to be part of our beta testing ?
And conversely we would also like early access to your code to see if everything hooks up together properly.

Were you planning to support Trezor too ?
If so then we can probably do the same approach there.


Once wallets get created and regular users start putting bitcoin on them it starts getting expensive time and effort wise to rework things. I think it is worth us coordinating to bash our code as thoroughly as possible before it goes out on general release.

Let me know if you'd like to and we can give you access to our repo.

Cheers,

Jim

MultiBit HD   Lightweight desktop client.                    Bitcoin Solutions Ltd   Bespoke software. Consultancy.
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January 24, 2014, 12:07:42 PM
 #20

This company project is now officially supported by the incubator of the french region Lorraine (http://incubateurlorrain.org/ ); we signed the contract yesterday.

May you become the Red Hat of bitcoin wallets.

v2 sounds brilliant. Well done.
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