Imperial Coin (IPC) - Announces Neoscrypt Algorithm Fork

[Jerrietg]

there are thousand of Crypto Currency say that they are make for the 21st Century

  oh really ? why we need so much

[odyssey]

there are thousand of Crypto Currency say that they are make for the 21st Century

  oh really ? why we need so much

You are correct - we do not need all the alt coins out there right now.  Only the coins, who upgrade and stay current with coin technology will survive.  IPC is one like that.  Our upcoming fork, will make IPC a very competitive and technologically sound coin.  Thanks for your interest and comments.

[odyssey]

Quick status update.......

1) We just had our 700th Twitter follower yesterday!
2) Our fork is complete and appears to be working.  Another day of testing and we will announce it soon.

[odyssey]

We have finally completed our upgrade of Imperial Coin (IPC) from the Scrypt algorithm to the Neoscrypt algorithm. While this was not an easy choice as there are so many options out there now.  It has become clear to us that Neoscrypt will most likely be one of the next generation proof-of-work (PoW) algorithms designed to replace Scrypt. It consumes a lot less memory than Scrypt, but yet is more memory intensive and stronger cryptographically. The Neoscrypt algorithm combines the power of Salsa20/20, ChaCha20/20, BLAKE2s and FastKDF into a very secure ASIC-resistant solution. It is a VERY solid, well-designed and well thought out algorithm which we feel represents the next generation of coins that will now include Imperial Coin (IPC).

NeoScrypt has been running successfully on Phoenixcoin (PXC) since late July and will be on Feathercoin (FTC) starting in late October also. If you remember, the hashing technologies used by the Scrypt algorithm starts with PBKDF2-HMAC-SHA256 key derivation, and ends with 8 rounds of the Salsa20 cipher as its mixing engine. However, it has since been shown that only having 8 rounds of Salsa20 can be broken through differential cryptoanalysis - not as secure as we all thought.

So the Neoscrypt creator designed NeoScrypt to be compatible with Scrypt, but to have functional differences which provide significant advantages over Scrypt. With Neoscrypt, he has written a custom key derivation algorithm which is much stronger and faster. NeoScrypt's mixing engine employs 20 rounds of Salsa20, followed by 20 rounds of ChaCha20. Not only is this combination faster and more secure than standard Scrypt, but it only takes 32KB to 64KB of memory, compared to the 128KB of memory used by Scrypt.

We are thoroughly convinced that NeoScrypt based currencies are set to become the best option for those who have a low to medium budget for mining equipment and therefore cannot afford ASIC rigs. With the adoption of NeoScrypt by Imperial Coin (IPC), we ensure that our loyal miners, small businesses in need of payments systems and newbies everywhere will always be able to viably mine IPC by never having to compete against miners who have bought the next generation of expensive Scrypt ASICs.  Without and algorithm like Neoscrypt, the smaller hobbyist miner will have no place left to mine anything on Scrypt-based coins, just like GPUs have no place on Bitcoin any more. Only those with deep pockets can mine Bitcoin and this will end up being just a few large companies or well-funded individuals. In our view, this does not make a good case for decentralization and not where Imperial Coin (IPC) needs to go.

We thank you for your patience while we upgraded our algorithm and went through some minor programming difficulties causing some delays.  It is running now on several machines and on our seed nodes and has a delayed switchover that will make the switchover to the Neoscrypt algorithm on Block 66,000 - in about 3-4 days.  At that point, everyone will need to be switched over to the new version and be mining with either a CPU or GPU as your ASICs will cease to work properly with Imperial Coin after Block 66,000. Here are some links of interest regarding Neoscrypt.

Documentation / White Papers:
   https://github.com/ghostlander/NeoScrypt
   http://www.feathercoin.com/neo-scrypt-press-release.pdf
   http://phoenixcoin.org/archive/neoscrypt_v1.pdf

Mining Tools:
   https://github.com/ghostlander/cpuminer-neoscrypt
   https://github.com/cqtenq/cgminer
   https://github.com/cqtenq/sgminer

We still have much left to do in getting everyone alerted and switched over as well as our wallets and websites updated.  At this time, ONLY the Windows wallet is available as well as the source code for IPC V1.3.0.6 available from the links below only. Please upgrade to the new code as soon as you can and do not forget to backup your wallets first!

IPC Source - https://github.com/ipcguy/imperialcoin-ipc (Primary)
                    http://www.imperialcoin.org/wallet/source/IPC-1.3.0.6-src.rar (Backup)

Windows Wallet - http://www.imperialcoin.org/wallet/windows/IPC-1.3.0.6-WIN.rar

[odyssey]

OK, we have updated the new source code into our GitHub account and updated all the links on our website and this thread.  In regards to the fork, please note that we have also included a built in miner, so that the wallet is now self-contained.  You can solo or pool mine with the new wallet.  Prior to Block 66000, the miner will mine Scrypt normally. From Block 66000 forward, when the Neoscrypt algorithm begins in use, you will be using a Neoscrypt type miner.  Please let us know if you have any questions.  We have put links in the this thread and on our website relating to Neoscrypt and Neoscrypt mining.

[odyssey]

Impressive!

Thanks for your support.  By our calculations, the switchover to the new Neoscrypt algorithm will occur in about 3.6 days from now or late Tuesday (EST).  At this time, we have updated our seed nodes, the block explorer (http://blockexperts.com/ipc), the website and notified all the pools and exchanges. They will all get reminders from us in a few days if we have not heard from them.  We will be working to get Linux and Apple wallets for you this weekend.

In regards to mining IPC, we have seen some recent spikes in hash rate - most likely with ASICs trying to get the most out of them before the changeover.  After the switch, you will need to use the CPU miner mining software specially modified for Neoscrypt or a new beta version mining SW for GPUs. We will add these to our Neoscrypt links page as we get them.  FYI, one of the pools (https://ipc.theblocksfactory.com/) has a good write up on mining Neoscrypt coins.  Again, we thank you for your support of ImperialCoin.

[odyssey]

Impressive!

Thanks for your support.  By our calculations, the switchover to the new Neoscrypt algorithm will occur in about 3.6 days from now or late Tuesday (EST).  At this time, we have updated our seed nodes, the block explorer (http://blockexperts.com/ipc), the website and notified all the pools and exchanges. They will all get reminders from us in a few days if we have not heard from them.  We will be working to get Linux and Apple wallets for you this weekend.

In regards to mining IPC, we have seen some recent spikes in hash rate - most likely with ASICs trying to get the most out of them before the changeover.  After the switch, you will need to use the CPU miner mining software specially modified for Neoscrypt or a new beta version mining SW for GPUs. We will add these to our Neoscrypt links page as we get them.  FYI, one of the pools (https://ipc.theblocksfactory.com/) has a good write up on mining Neoscrypt coins.  Again, we thank you for your support of ImperialCoin.

We only have 530 blocks to go until ImperialCoin (IPC) switches over to the Neoscrypt algorithm. Please update your wallets ASAP.

[odyssey]

New updated wallets for Linux.....

   Linux (32bit Ubuntu): http://www.imperialcoin.org/wallet/linux/IPC-ubuntu-14.04-i686.zip
   Linux (64 bit Ubuntu): http://www.imperialcoin.org/wallet/linux/IPC-ubuntu-14.04-x86_64.zip

[odyssey]

Here is a pool that is already setup for mining IPC using the Neoscrypt Algorithm.

https://ipc.theblocksfactory.com/


FYI, we have 133 blocks more to go before the changeover.

[damm315er]

About 1 hour to switchover..

[damm315er]

D-day...

[cisahasa]

i have a feeling everything did not go fine this time..

[damm315er]

It apparently did not..  

The wallets report still block 65999, yet the neoscrypt mining software is reporting rejected blocks about every 5 minutes, while no "new block detected on network"..

[lucazane]

i have a feeling everything did not go fine this time..

The pow is neoscrypt but the diff hasn't been reset. (switch pow @ block 65999 & diff reset @ 66000) IMO.

[cisahasa]

p2pool wont connect, solo mining wont work

cryptominingpool, not accepting any shares

[lucazane]

p2pool wont connect, solo mining wont work

cryptominingpool, not accepting any shares

cryptominingpool is still scrypt

[damm315er]

i have a feeling everything did not go fine this time..

The pow is neoscrypt but the diff hasn't been reset. (switch pow @ block 65999 & diff reset @ 66000) IMO.

Dev said via pm that the diff was supposed to reset.

But I'm throwing about 120 kh/s at it via gpu, so if that is the issue, I'll hit it eventually..

[lucazane]

https://ipc.theblocksfactory.com/

first neoscrypt block mined
successfuly switch to neoscrypt

[cisahasa]

https://ipc.theblocksfactory.com/

first neoscrypt block mined
successfuly switch to neoscrypt

that was me

[damm315er]

SCHWEET!!!!!!!!!!!