[ANN] [CryptoNightV7] ⚡ Electroneum Classic ⚡

[resdi1]

https://i.imgur.com/96ikvTjg.png

⚡ Electroneum Classic ⚡

ETNC

Electroneum without the BS

Website: http://electroneum-classic.com

Features:

 - CryptonightV7
 - 60 second block time
 - 21,000,000,000 total supply
 - Zawy LWMA diff algo
 - No 60% premine
 - No simulation miner


Roadmap:

 - Bulletproofs
 - Mobile Wallet
 - Possible cryptonight-etnc variant?


Why Electroneum Classic:
Electroneum Classic takes Electroneum v2.0.0.0, which is pre-hardfork back to ASICS, and improves it.  
We added Zawy LWMA difficulty algo to prevent hashrate fluctuations and make 51% attacks much harder.
We are sticking to CryptonightV7, with a custom variant of cryptonight a future possibility if new threats arise.

Instead of a hardfork we decided to restart the blockchain from genesis.
This is because Electroneum had a 60% premine of 12.6 Billion coins, with a total supply of 21 Billion.
This is clear dishonesty and there is about ~7 billion unaccounted coins (mined to an untraceable wallet in block 1) from what was stated in their ICO.
The current circulating supply is not 7,309,891,787 ETN as coinmarketcap states but it is ~14.9 billion.

Code:

print_coinbase_tx_sum 0 324157
Sum of coinbase transactions between block heights [0, 324157) is 14912359342.20 consisting of 14911859354.20 in emissions, and 499988.00 in fees

If we hardfork, these 7 billion coins could easily be dumped by the wallet controller.

Why no mobile miner:
The moblle miner is just a simulation that does not have emissions to warrant anywhere near the rumoured 7 billion coins allocated to it.
There are 7 billion coins rumoured to be allocated to the mobile mining simulation, this is 105 million dollars worth of Electroneum at todays price of ~$0.015.
The mobile mining simulation pays out 0.36 ETN per hour at 50 h/s at 120k users, and 0.26 at 50 h/s at 180k users.
If the emissions stay the same, that's (7,000,000,000 / (0.36 * 24 * 120000)) / 365 = 18.5 years.
Basically there is way too much allocated to that pool, as we cannot expect emissions to stay the same as they are,
unless we speculate that Electroneum will not go up in price.
Also this is assuming every mobile miner mines at the maximum allowed speed of 50 h/s.

Stance on ASICS:
Electroneum hardforked back to ASICS because their difficulty algorithm responded very poorly to hashrate spikes,
arbitrage miners would jump on when the NiceHash (~0.15 BTC per 1m/H) -> ETN (~0.48 BTC 1m/H)  ratio was 3+ times and
in this timespan they would mine 3-4x the normal amount of blocks (1 block per ~15 seconds), then the difficulty
would sharply spike 4x, and they would leave for the remainder of the day, so 20+ hours the blockchain would be stuck.
Stable honest miners (24/7 mining ETN) would lose by mining the high difficulty blocks, often taking home much less ETN then calculators would say.

The problem with cryptonight ASICs is that 80% of them are produced by 1 company that is privately held and non-auditable.  
Also there is no way to know how many ASICs are lying in warehouses ready to be turned on to attack any network.  
GPU manufacturers provide inventory counts and sales numbers, they have accountability and fair distribution can be vetted for.

Electroneum is centralisation and decisions made from shareholder interest.
Electroneum Classic is decentralisation, voting and ASIC resistance.


Premine:
5% of total coins (1.05 billion) have been premined in block 1.
3% is for operations encompassing everything from developer salaries to team equity.
1% is for exchange listings.
1% is for airdrops, marketing, PR, and social media.

Use cases:
We want Electroneum Classic to become the go to for private and fast transactions.  
Paying for a coffee, transferring a large balance or even paying for a VPN should be possible within minutes with full privacy.

Road Map:
We are looking to implement bulletproofs as this would reduce the blockchain size and as well as reduce wallet load, exchanges will be happy!
Remote nodes to enable light-wallets (TOR friendly nodes as well)
We also want to push out a mobile wallet to allow easy payments.
Of course threat protection and security is our top priority as well.

Exchanges:

Pools:
https://etnc.pool.yt/ (GERMANY)
https://electroneum-classic.clevery.xyz/ (FRANCE)
http://pool.baikalmine.com/en/etnc/ (RUSSIA)
https://classic.etnminers.com/ (GERMANY)
https://etnc.cnpools.space/ (UNITED STATES)
http://the-miners.de/ (GERMANY)
https://etnc.thepiratemine.nl/ (NETHERLANDS)

Pool Share:
https://miningpoolstats.stream/electroneumclassic
https://www.nicehash.com/marketplace/cryptonightv7

Block Explorers:
https://explorer.electroneum-classic.com
https://etnc-explorer.thepiratemine.nl/

Community:
Discord: https://discord.gg/h86vs4g
Reddit: https://www.reddit.com/r/ElectroneumClassic/
Telegram: https://t.me/electroneumclassic

Wallet:
CLI-Wallet: Use the daemon
GUI-Wallet: https://github.com/electroneumclassic/etnc-gui-wallet/releases
Paperwallet: https://etnc.pool.yt/#wallet
Paperwallet: https://etncwallet.hvs.cx/


Source:
Github: https://github.com/electroneumclassic/electroneum-classic


Troubleshooting:

If your balance is 0.0 but you should have balance, try to restore the wallet from the
mnemonic seed or the private key once the blockchain daemon is online and synced.

Code:

./electroneum-wallet-cli seed
./electroneum-wallet-cli --restore-deterministic-wallet

We are looking for community manager, air drop and other marketing, contact me please if you are interested!

[Ierusalim]

Pool pls!!!

windows wallet? discord?

[maxiorek]

I just made Polish translation  
Go to: https://bitcointalk.org/index.php?topic=4602953.0

It's a good idea

I can't send you pm because "User 'resdi1' has not chosen to allow messages from newbies"

[resdi1]

Pool pls!!!

windows wallet? discord?

Discord is added, windows wallet I will compile tomorrow.

Website will go up tomorrow too.

Mining pool might need an extra day.

[bjmpoker001]

I can translate your thread into INDONESIAN language if required.

[starblocks]

Will you be releasing a whitepaper for this and what exchanges will be targeted in future for listing?

[Sn000py]

POOL.YT

https://etnc.pool.yt

Enjoy! Happy mining! Everyone is welcome!
Pool Discord: https://discord.gg/4JxbVFy

POOL UPDATED AND RUNNING!

[blockaid.net]

interesting enough... i guess

[Admkng5]

Where is pool and windows wallet?

[Janasey]

The project looks promising as well, so if possible, I would like to participate in the bonus program to spread the information about the UNZ to my community.

[y6uBaKa]

Wow! New fork? where can I see the blockexplorer and the currently difficulty of the network?

[Slimdev]

reserved

[erzascalet]

I have read your technical document, the project looks very good and deserves special attention for investors

[y6uBaKa]

POOL.YT

https://etnc.pool.yt

Enjoy! Happy mining! Everyone is welcome!
Pool Discord: https://discord.gg/4JxbVFy

EDIT: POOL DOWN TILL COIN GETS FIXED. NO BLOCKS ARRIVE AT WALLETS WHEN FOUND!

Pool currently down

[Sn000py]

POOL.YT

https://etnc.pool.yt

Enjoy! Happy mining! Everyone is welcome!
Pool Discord: https://discord.gg/4JxbVFy

EDIT: POOL DOWN TILL COIN GETS FIXED. NO BLOCKS ARRIVE AT WALLETS WHEN FOUND!

Pool currently down

Dev needs to fix blocks arriving at wallets first
EDIT: Pool back online!

[bonji77]

Reserved Indonesian Translation
my previous work:

whitepaper:
Tradove
https://drive.google.com/open?id=1QXhXxJkrHOLBu1w5UqUbLL-WjK9_ibPX
Lunes
https://drive.google.com/open?id=1Nm3TYWIRfqXlv-29tVhd3iEy6pSAXHUh
Baappay
https://drive.google.com/open?id=1-OMYhvblWvWdnfBOnthGixNkQ1KtPBLf
Merculet
https://drive.google.com/open?id=1FXgMg7o8vjIJBmmTWfKNdKMLbBbDbwm7
Lightbitatom
https://drive.google.com/open?id=1JF5XxGZ4v_pm6ui0_15u77Ho3BLmHzjC
MB8coin
https://drive.google.com/open?id=1CP-bmBXatLiZLx4dDs5eiJh5m2om8Ufd
https://drive.google.com/open?id=1TUmCtIH3ZPQgaJw-Fi3BUpO0HEHl7QD5

ANN:
Lunes
https://bitcointalk.org/index.php?topic=2897482.0
Lightbitatom
https://bitcointalk.org/index.php?topic=3522498.0
Hussy
https://bitcointalk.org/index.php?topic=3806666.0

bounty thread:
Lightbitatom
https://bitcointalk.org/index.php?topic=3522498.msg36253672#msg36253672
Lunes
https://bitcointalk.org/index.php?topic=2897482.msg29794235#msg29794235
Hussy
https://bitcointalk.org/index.php?topic=3806666.msg37280038#msg37280038

[crazyer1976]

Recently was created a project - Electronero. Also fork of Electronium with a much smaller premine and the same algorithm (CryptonightV7). https://bitcointalk.org/index.php?topic=3373837 Oh? What is the need to create another similar fork? Do you have money to promote your project? I doubt very much. Experience or known team? The answer is also negative. Are you gaining experience and experimenting?

[PlutoVYS]

We need more information about it.
Where I can get sources for pool?

[Judderz16]

Electronero had a much smaller premine? Nope...it had 3 premines, then dev dumped the lot. They also only connect to one single node. Check this out

https://bit.tube/play?hash=BRi109f4flZfWZHzTsoS&channel=8500

[resdi1]

Pool pls!!!

Where is pool and windows wallet?

Pool is up, i edited main post. Windows releases are coming today or tomorrow.

POOL.YT

https://etnc.pool.yt

Enjoy! Happy mining! Everyone is welcome!
Pool Discord: https://discord.gg/4JxbVFy

POOL UPDATED AND RUNNING!

Added to main post!

Wow! New fork? where can I see the blockexplorer and the currently difficulty of the network?

Blockexplorer should be up soon. You can check the network difficulty on the first supported pool.

I just made Polish translation  
Go to: https://bitcointalk.org/index.php?topic=4602953.0

It's a good idea

I can't send you pm because "User 'resdi1' has not chosen to allow messages from newbies"

Thanks and allowed messages from newbies.

POOL.YT

https://etnc.pool.yt

Enjoy! Happy mining! Everyone is welcome!
Pool Discord: https://discord.gg/4JxbVFy

EDIT: POOL DOWN TILL COIN GETS FIXED. NO BLOCKS ARRIVE AT WALLETS WHEN FOUND!

Pool currently down

Dev needs to fix blocks arriving at wallets first
EDIT: Pool back online!

This is due to creating a wallet / doing the sync on an unsynced blockchain. I edited the main
post and under troubleshooting section posted a solution.

We need more information about it.
Where I can get sources for pool?

Currently community pool is up, no sources available right now.

Recently was created a project - Electronero. Also fork of Electronium with a much smaller premine and the same algorithm (CryptonightV7). https://bitcointalk.org/index.php?topic=3373837 Oh? What is the need to create another similar fork? Do you have money to promote your project? I doubt very much. Experience or known team? The answer is also negative. Are you gaining experience and experimenting?

Electronero had a much smaller premine? Nope...it had 3 premines, then dev dumped the lot. They also only connect to one single node. Check this out

https://bit.tube/play?hash=BRi109f4flZfWZHzTsoS&channel=8500

Yes and Electronero did way too much, rebasing over Monero which resulted in a bug that sent the difficulty to impossible levels, locking the chain down forever.  Electroneum Classic is not pursing such error prone things and our commits and changes are very clear. Electronero had a premine, also they increased the max supply by 10x.  I have experience and am well familiar with cryptonight, one of the use cases we want is very fast and cheap anonymous payments, something like what Litecoin is to Bitcoin.