new approach to altcoin design, practical consideration

[Salivan]

I invite  you  to  play  with  Distributed Micropayment System (DiMS) of  my  design. This is bitcoin blockchain based cryptocurrency.  

I have made some  binaries  available:
https://github.com/salivan-ratcoin-dev-team/dims/releases

Presentation  includes:
windows  files :

dims_client.exe - this enable you to connect to the network receive and send coins  and pay for  applications   (wait prox. 1 minute for synchronization with network)

dims_appTest.exe - this  is payable  application, it  is not  functional  till  you  pay  it using DiMS coins

minGW  based environment - which  enable you  to create payable application ( static qt needed  on  your  side )


In order  to  do  anything  you  have  to gain  some coins  to  spend
There  are  3 simple ways( beside those you can earn coins running nodes within  system but I will not  discuss this topic yet )  :

1. Generate  address using client and  ask me to send you some coins

2. Spoon new coins by sending testnet bitcoins  to origin address, use  normal  bitcoin  software  for  this  step  (  mh1xFXHEPZSgeKW8mrRUrXeJJyXTrc95ku – DiMS origin address ).
Than use private address from which those  bitcoins were sent to  generate new dims address, you  can  do this  via  client.
After 6 confirmations  coins  should  be credited on your balance

3 Use  environment to  create payable  application and publish it hoping  that  there  will be  people  who  are  willing  to pay for  it. (  I will buy it for sure)

System  is  functional but  not  ready  yet
Vital  functionalities  are missing yet, among those are:
- audit  functionality  for  monitors - this is  vital  for  keeping  health  of  the  network
- anti-spamming  policies - those will keep  in check  malicious  behaviours
- small  transaction  cleaning - this  is  live  boat of the  system, prevents from  being  clogged  with  small  spam  related  transactions.
- a lot of  testing  and  bug fixing

Anyway  I  ask  you to  try  my  network  and  give  me  some feedback

Additionals:
video with small presentation:
 http://youtu.be/511lhgJzKys

http://inspector.dims.red/#testnet - this  site list  running nodes

Repository link:
https://github.com/salivan-ratcoin-dev-team/dims

[chinabreak123]

good idea

[Salivan]

small update, next I plan to deliver some pictures, not soon unfortunately (lack of time)

[Salivan]

added some pictures
work not complete yet but I am quite impatient to get some feedback 

[Griegura]

Very interesting but way out of my league! good luck!

[Salivan]

few new pictures

[Salivan]

up

[barwizi]

What is your goal exactly?

[Salivan]

What is your goal exactly?

increase bandwidth many times, relatively to bitcoin

[Salivan]

small video:
http://youtu.be/6aKujmjXg-g

sorry for poor quality, after making upload into youtube it is deteriorating

[Salivan]

fix quality   of video
http://youtu.be/511lhgJzKys

[MyLucky7]

fix quality   of video
http://youtu.be/511lhgJzKys

This looks better now.

[Salivan]

fix quality   of video
http://youtu.be/511lhgJzKys

This looks better now.

yep although vid is  quite  boring it is doing  quite good  job of illustrating what is  exceptional about  this coin.
 
but anyway  I am somehow failing on promoting the idea.
So  what left is  to focus on development. My next goal is to  fix peers  synchronization. It will enable anyone  with separate ip number, full participation in network(as monitor or tracker), all of this obviously still in testnet mode.

When software stabilizes I will start  main network as  well, and  than I will put more heart into promotion.
 When  real money is on the line it always ignites some  emotions



 

[choochimil]

Good on you for thinking a bit differently.

[Salivan]

Good on you for thinking a bit differently.

I simply want to promote idea of network with different architecture. Instead of having let  say 500 anonymous nodes. In my architecture there will be far less of them let say 40. In return those will be powerful computers  with their  identity and record  of  activities know because all communication is  signed. This way there is no need  for  blockchain within this network.
 Since state zero of  each coin is  well defined ( bitcoin  blockchain, proof of burn  coin creation ).
And  later peers  can  track in real  time who is doing valid  job and who aren't because  messages are signed.
 In the sense this  is  a  trust good peers exclude  liars  as  soon as possible philosophy.
 Obviously it is  a bit  tricky but I believe it can be done.


What  you get is  high  bandwidth because  no  blockchain exists, so no  transaction per block limit.

[Salivan]

current bitcoin spamming  concerns  me  a lot. In meantime  my  project has  stalled a  bit,  I marvel if  my  coin  will  be  able  to defeat  the  problem, only  time  will  show

[Crestington]

It looks like something like this could be used as a type of sidechain project, could you make a wallet that could connect to 50 Blockchains? You could make all payments by best price among a basket.

[Salivan]

It looks like something like this could be used as a type of sidechain project, could you make a wallet that could connect to 50 Blockchains? You could make all payments by best price among a basket.

it is not my purpose, but  quite interesting question on theoretical level, at first  glance seems  feasible.
Right now  I am struggling with basics at some  point  it may be  nice  to play  with fancy extensions but  not  now.

[mitchellmint]

Establishing the Pegs in QT is pretty easy.  We are trying to miniaturize it so infinite amount of instances can be created.  Its my belief you should PEG to a secure block chain, like an altcoin.

[Salivan]

after thinking about whole  idea in case of  my  platform attaching to more than  one  blockchain have not economical sense