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Author Topic: [ANN] [VELD] - Veldspar - A new type of coin, trying to solve different problems  (Read 4326 times)
editfmah (OP)
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August 05, 2018, 10:56:21 PM
Last edit: August 06, 2018, 01:03:03 AM by editfmah
 #1

Announcing  Veldspar, thinking differently and more co-operatively.

Purpose:
To think about block chain currencies differently (in this case to try to solve the issues that currently affect coin systems in production).
To use PoW & PoS to good affect. The PoS actually being the amount in hash power you apply to the network.

The concept (still in development as problems are discovered and overcome):
There are two parallel parts to the chain;

  • the ORE to be mined
  • the traditional transactions block chain

To mimic real life (resource based / effort based), there is ORE to mine, but this does not go away, you can mine this forever trying to find tokens. Once found the miner can claim that token as theirs and it will be entered into the block chain as the originating owner of that token. The token value is based on a likelihood gate, and then what is essentially a pattern match against a table of magic beans.  Exponential value based on complexity resulted in too many low value tokens and the network can only ever work well with a good mix of denominations.

Because ORE can be mined forever, hash rate will be spread across the entire block chain not just used to crack a single block. Miners may wish to mine only a single block of ORE for many months, trying to find the highest possible value token they can, before moving onto a new one.

Tokens are defined as addresses describing the position within the ore they were found in, and a reproducible path to the discovery of the pattern. Once a token has been found, it is submitted to the network with the miners’ details and an agreed timestamp (by consensus). If that miner was the first to find that token then it is written into the ledger, and that token is created, and its journey starts.

The block chain itself is signed/sealed on a fixed time basis, so every X seconds the all of the outstanding transactions in arrears will be selected, signed and entered into the chain. Once this has been done, the hash for the block is distributed to all connected nodes, and the originating nodes will receive other nodes' hashes. Then quorum is established. If the hash you supply is outvoted by a significant proportion of the other nodes, then that block is not written to the local store, and instead a copy of the transactions is gained from several sources, compared, and the process is run again.

Benefits?
Distributed
Block chain itself is just transactions, so small and fast to synchronise
ORE system, means hash rate is distributed across entire chain, therefore stopping anyone smashing the network with nicehash/asic rigs.
No fixed reward and no fixed supply. Only a likelihood of reward/total supply, based on the amount of effort used to mine the ore. This stops early adopters from getting anything more than late adopters, because they are not rewarded for being first other than the low value easy tokens.
ORE does not need to be stored on all nodes, but transactions will. This will allow for space limited installations of nodes.
You are not fighting other miners, your effort is directly rewarded with wealth. People who apply more hash-rate get proportionally more reward.

Downsides?
Low value tokens will be extremely numerous, so sending large transaction may have many 1000's of tokens within it.
As above, tokens mimic real word money, in that you can have T0.01, T0.20 & T1.00, but you could not send T0.30 to someone as you do not have the denomination to do so. The network would have to try to distribute large and small tokens to make sure there was always enough "change" to have transactions succeed.

Tokens?
Tokens are described as the positional information of their location within the ore, the method used to generate it, and the value signature.

And example would be:

<height><algorithm><value><add1>..<add n>

Which looks, for a 64bit token with 8 paths, like:

00000001-0000-00000001-00046411-00005839-0002C3CD-000B5BA9-00010B6F-00002AEA-0007E24D-000EC5F6

Algorithm
This would be an enumeration of 0-65534 possible algorithms ... Becoming ever more CPU intensive to derive more value from the find, allowing for deprecation and replacement over time.

The tokens should be hard to find, but very fast to validate, as the nodes will be required to validate all the finds, so they can be incorporated into the ledger at a point in the future.

Economy
This is tricky, as it mimics real world resource availability and therefore there are no fixed emissions of tokens, it is purely what is found in the ore provided, which is of course entirely random.

Fairness
As it is impossible (or at least not-likely) for developers to pre-mine the token, other than "knowing" about the coin first, there is no fixed pay-out, only a reward for effort applied so this should reduce the amount of bag holding that early adopters have traditionally amassed.  You also never loose out to other miners with far more horsepower.

Sequential mining is discouraged as you will be likely to find blocks which have already been claimed, therefore, randomised mining of the ore would yield the best possible return for effort.

Mining
So mining, consists of finding tokens within the ore. By default, a block of ore is 1mb of data. The miner has to try 8 x 64 byte sections of that ore, using one of 2 initial methods (prepend & append), then one of 4 hash algorithms will be used to try to find a valid token. This gives possibilities to try of approximately 1.19^58 combinations. But with there being up to 65534 algorithms, all operating on the same block of ore the possibilities are numerous. Ore blocks follow a different release schedule, so may well be every 10k blocks, or 100k.

Transparency
This is a tricky one for me to really wrap my head around, personally I love the idea of entirely anonymous currencies free from the outside snooping on what you have. But in a fair and balanced society, everyone should be held to account for what they hold. As only when something is free and open can trust be established. Also, if you are looking to create a crypto currency that is welcomed with open arms by payment providers and governments, a certain amount of auditing must be possible whist still allowing some anonymity.

This will be a tricky problem to solve as you wish to balance the two, and ensure you are protecting both sides but still allowing the network to be entirely independent and beyond the control of any single individual or agency.

Method
There will be two data structures underlying the chain.

The blockchain itself, containing <Blocks>, tied together with SHA512 hash of all it's transactions + previous block hash
Ledger, the in/out record for all tokens in the chain. Ownership can be established by looking at the last allocation of a token, and tested before spending that token. Also, registration of a token can be tested by the non-existence of an existing allocation for that token.
Because there will be no proof of work for the blockchain, we must secure it via consensus. With the seed nodes being authoritative whilst the network size is insufficient or quorum cannot be achieved.

Consensus is based (due to timing anomalies) on transactions being submitted to the network with a target block membership, which is far enough in the future to ensure it’s distribution around the network in sufficient time (say at least 1 min). Then when the next block is due to be produced the nodes will gather the outstanding transactions for the block, order the transactions by their identifier and hash them, then hash that result against the previous block.

The node will then send this final hash around to other nodes to gain consensus, each node will record the number of hits/misses of that hash it receives and write that into the blockchain as a record of the network quorum for that block. In the case where there is significant disagreement, then the seed nodes become authoritative, although this should never happen or be inconsequentially irregular as to not be a problem.

In the case where a node becomes outnumbered in it’s resolution of a block, it will not commit that block into the store, and will instead ask another node (likely a seed node) for all it’s transactions for a block, then re-process that block and check the hash now matches the consensus and if it passes then write the block into the datastore.

Roadmap:
v0.1.x - Initial seed node created, mining active, wallets created, no replication to other nodes.
v0.2.x - Live replication, p2p to other nodes, Seed nodes authoritive on token registration and spends
v0.3.x - Quorum introduced, seed nodes no longer authoritive unless 50/50 decision requires adjudication.
v0.4.x - Introduce ledger compaction, only allocation and previous allocation required to be kept past a certain point.

When does it go live?

Monday 6th August 2018, 0:00.

But there is no point rushing to be first, as there is no reward for being first over last (unless my calculations are wrong!).

Why release alpha?

Because this codebase needs the feedback and the mining to test all the concepts:

Where is the project

https://github.com/editfmah/Veldspar

Why does it only work on Mac & Ubuntu

Because this is a prototype and the miners & wallet will be ported to JavaScript at some point soon so people can use the network, and the Nodes will be made available to Windows at some point in the future as well.

I will try to answer any questions on here, but bear in mind this is Alpha and until we hit version 0.4.xx I wouldn't take it too seriously as there will be plenty of dev work to do.  So far there is a simple miner, wallet & node service.

Support and talk
https://discord.gg/95VHjn3

Many thanks.
noobwhosuckatlife
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August 05, 2018, 10:57:02 PM
Last edit: August 05, 2018, 11:09:12 PM by noobwhosuckatlife
 #2

Looks really really interesting!
The only downer --- no Windows support atm Sad

WELCOME TO MY MINE

WE ARE MINING DIAMONDS

WE AINT GONNA STRIP MINE

WE DONT HAVE TO FITE MOBS
tsik
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August 05, 2018, 11:54:48 PM
 #3

can't unzip the virtualbox image. please reupload nevermind
editfmah (OP)
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August 05, 2018, 11:59:15 PM
 #4

can't unzip the virtualbox image. please reupload nevermind

You will need to do a git pull and update the software as it will have the wrong seed which was changed to reset the service for the launch.
hankrules
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August 06, 2018, 12:13:50 AM
 #5

Does the daemon need to be running for the miner to run?  The daemon keeps crashing when I run the miner...

Code:
Veldspar Daemon v0.0.1
---------------------------
Database connection opened
Blockchain created, currently at height 0
Generating Ore
[INFO] Starting HTTP server  on 0.0.0.0:14242
Illegal instruction (core dumped)

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.SEMUX
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  Semux uses .100% original codebase.
  Superfast with .30 seconds instant finality.
  Tested .5000 tx per block. on open network
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tsik
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August 06, 2018, 12:23:52 AM
 #6

Does the daemon need to be running for the miner to run?  The daemon keeps crashing when I run the miner...

Code:
Veldspar Daemon v0.0.1
---------------------------
Database connection opened
Blockchain created, currently at height 0
Generating Ore
[INFO] Starting HTTP server  on 0.0.0.0:14242
Illegal instruction (core dumped)


same problem, miner also gives error.
editfmah (OP)
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August 06, 2018, 12:26:36 AM
 #7

Does the daemon need to be running for the miner to run?  The daemon keeps crashing when I run the miner...

Code:
Veldspar Daemon v0.0.1
---------------------------
Database connection opened
Blockchain created, currently at height 0
Generating Ore
[INFO] Starting HTTP server  on 0.0.0.0:14242
Illegal instruction (core dumped)


Nope, daemon not needed until v0.2.0 so probably a couple of weeks at this rate.
editfmah (OP)
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August 06, 2018, 12:28:27 AM
 #8

Does the daemon need to be running for the miner to run?  The daemon keeps crashing when I run the miner...

Code:
Veldspar Daemon v0.0.1
---------------------------
Database connection opened
Blockchain created, currently at height 0
Generating Ore
[INFO] Starting HTTP server  on 0.0.0.0:14242
Illegal instruction (core dumped)


same problem, miner also gives error.

Miner should have given a different error, the node was offline because we found the first bug with people sending tokens in.  This has been patched and put live again, so it should work.

If you are running software that is not working (or in the VM supplied), then you will need to rebuild from source again.
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August 06, 2018, 12:42:29 AM
 #9

ok, mining now. thanks
editfmah (OP)
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August 06, 2018, 12:51:49 AM
 #10

ok, mining now. thanks

cool, this is really early days so ironing out a couple of bugs as we go.  Mining works offline too, so you should see a message if we take the service down and then it will submit the finds again once it's back up.  Nothing should ever be lost.
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August 06, 2018, 12:57:15 AM
 #11

ok, mining now. thanks

cool, this is really early days so ironing out a couple of bugs as we go.  Mining works offline too, so you should see a message if we take the service down and then it will submit the finds again once it's back up.  Nothing should ever be lost.

Ok, awesome. What is the highest token reward? I like that it varies, but i'm curious about range.
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August 06, 2018, 01:04:54 AM
 #12

ok, mining now. thanks

cool, this is really early days so ironing out a couple of bugs as we go.  Mining works offline too, so you should see a message if we take the service down and then it will submit the finds again once it's back up.  Nothing should ever be lost.

Ok, awesome. What is the highest token reward? I like that it varies, but i'm curious about range.

for now it's 50.00, which is 5000 units.  We can actually change the denomination without breaking anyone's spoils so far.  There may be bigger denominations with the introduction of a second algo, which is much harder, but that will be based on feedback and performance.
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August 06, 2018, 08:53:27 AM
 #13

It was very interesting, but it is a pity that there is no support for Windows. I like your concept, it seems fair. so the first one and the last one was equal opportunity.
editfmah (OP)
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August 06, 2018, 09:01:41 AM
 #14

It was very interesting, but it is a pity that there is no support for Windows. I like your concept, it seems fair. so the first one and the last one was equal opportunity.

It's not quite equal, but with 1.19^58 possible combinations to test, you are unlikely to find much that other people have found.  And then new Ore is released at fixed intervals too, so as a block of ore gets depleted, a new one is created.

I am investigating learning enough javascript to create a wallet and miner.  But might just be easier to do it in C for windows as it translates fairly easily.
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August 06, 2018, 12:33:21 PM
 #15

Hello, I'm trying your alpha :
Code:
...
Found token! @2018-08-06 12:30:09 +0000 Ore:0 method:0 value:0.5
Token Address: 00000000-0000-00000032-000F92B8-00061284-0004D37B-000CDE...
Token successfully registered with Veldspar node.
...

What to do from here ?
How can we get the network and mining information ?
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August 06, 2018, 12:50:45 PM
 #16

you can open simplewallet and check your balance after some time
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August 06, 2018, 01:00:59 PM
 #17

I can see my incoming tokens, thanks.
Code:
Processing block 388 of 388
Incoming token added to your wallet with a value of 0.01
Incoming token added to your wallet with a value of 0.1
Processing block 389 of 389
Incoming token added to your wallet with a value of 0.01
Incoming token added to your wallet with a value of 0.05
Incoming token added to your wallet with a value of 0.1
Incoming token added to your wallet with a value of 1.0
Processing block 390 of 390
Incoming token added to your wallet with a value of 0.1
Incoming token added to your wallet with a value of 0.1
Incoming token added to your wallet with a value of 0.5
Incoming token added to your wallet with a value of 10.0
Incoming token added to your wallet with a value of 20.0

Anything to test with the daemon ?
editfmah (OP)
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August 06, 2018, 01:25:53 PM
 #18

Hello, I'm trying your alpha :
Code:
...
Found token! @2018-08-06 12:30:09 +0000 Ore:0 method:0 value:0.5
Token Address: 00000000-0000-00000032-000F92B8-00061284-0004D37B-000CDE...
Token successfully registered with Veldspar node.
...

What to do from here ?
How can we get the network and mining information ?

The next release of the node has a network statistics output,  showing what has been found,  what denominations etc.  I will post a link to the JSON api on here when it’s gone up.
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August 06, 2018, 04:15:56 PM
 #19

Hello, I'm trying your alpha :
Code:
...
Found token! @2018-08-06 12:30:09 +0000 Ore:0 method:0 value:0.5
Token Address: 00000000-0000-00000032-000F92B8-00061284-0004D37B-000CDE...
Token successfully registered with Veldspar node.
...

What to do from here ?
How can we get the network and mining information ?

The next release of the node has a network statistics output,  showing what has been found,  what denominations etc.  I will post a link to the JSON api on here when it’s gone up.

I upgraded to 0.0.3 and it seems that i'm finding way less tokens. Metrics are nice, but rewards have decreased.
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August 06, 2018, 04:46:00 PM
 #20

Here is a veldspar discord channel i just created if anybody would like to join: https://discord.gg/w63huZ

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  Semux uses .100% original codebase.
  Superfast with .30 seconds instant finality.
  Tested .5000 tx per block. on open network
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August 06, 2018, 04:55:56 PM
 #21

Here is a veldspar discord channel i just created if anybody would like to join: https://discord.gg/w63huZ

One already exists, it's in the main post....
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August 06, 2018, 05:06:31 PM
 #22

Here is a veldspar discord channel i just created if anybody would like to join: https://discord.gg/w63huZ

One already exists, it's in the main post....

Oops a daisy.  Thanks!

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  Semux uses .100% original codebase.
  Superfast with .30 seconds instant finality.
  Tested .5000 tx per block. on open network
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editfmah (OP)
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August 06, 2018, 05:49:39 PM
 #23

Hello, I'm trying your alpha :
Code:
...
Found token! @2018-08-06 12:30:09 +0000 Ore:0 method:0 value:0.5
Token Address: 00000000-0000-00000032-000F92B8-00061284-0004D37B-000CDE...
Token successfully registered with Veldspar node.
...

What to do from here ?
How can we get the network and mining information ?

The next release of the node has a network statistics output,  showing what has been found,  what denominations etc.  I will post a link to the JSON api on here when it’s gone up.

I upgraded to 0.0.3 and it seems that i'm finding way less tokens. Metrics are nice, but rewards have decreased.

That is deliberate.  We may tweak it again if it's not working out.  We wanted to bulk out the middle range 0.5,1,5,10's and reduce the 0.01's and introduce the 100's & 200's to try and create a more realistic spread.

If people are disadvantaged over others that mined early, then I will try to redress that issue.  Because that runs entirely counter to the whole intention of the coin.  But that is mainly because people would get upset if I reset the network and called to start it all again.
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August 06, 2018, 07:57:26 PM
 #24

** NEWS **

Mining on a miner version less than 0.0.3 will result in rejected tokens.  Upgrade is possible, download new Ubuntu image if mining on VM.

Torrent for new image on the release tag.

https://github.com/editfmah/Veldspar/releases/tag/v0.0.4

Thanks.
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August 06, 2018, 08:04:55 PM
 #25

Hello, I'm trying your alpha :
Code:
...
Found token! @2018-08-06 12:30:09 +0000 Ore:0 method:0 value:0.5
Token Address: 00000000-0000-00000032-000F92B8-00061284-0004D37B-000CDE...
Token successfully registered with Veldspar node.
...

What to do from here ?
How can we get the network and mining information ?

Here is a link to the stats:

http://142.93.36.224:14242/blockchain/stats

There are other api calls too:
http://142.93.36.224:14242/blockchain/currentheight

http://142.93.36.224:14242/blockchain/block?height=35
etc...
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August 07, 2018, 04:47:31 AM
 #26

Do you need Russian translation of yours Ann ?
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August 07, 2018, 06:37:49 AM
 #27

The project is very good and excellent with an excellent team. I look forward to this project for a long time and I like it. I am sure this project will grow well!
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August 07, 2018, 08:27:52 AM
Last edit: August 07, 2018, 08:47:16 AM by alibalhas
 #28

Veldspar Miner v0.0.4
---------------------------
Connecting to server 138.68.116.96
Unable to download ORE from the server located at '138.68.116.96', can't continue as cache is also empty.  Please try again later.

??
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August 07, 2018, 08:47:52 AM
 #29

The links are not working.
It's much more difficult to mine with this new version ?
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August 07, 2018, 08:52:31 AM
 #30

Hello, I'm trying your alpha :
Code:
...
Found token! @2018-08-06 12:30:09 +0000 Ore:0 method:0 value:0.5
Token Address: 00000000-0000-00000032-000F92B8-00061284-0004D37B-000CDE...
Token successfully registered with Veldspar node.
...

What to do from here ?
How can we get the network and mining information ?

The next release of the node has a network statistics output,  showing what has been found,  what denominations etc.  I will post a link to the JSON api on here when it’s gone up.

I upgraded to 0.0.3 and it seems that i'm finding way less tokens. Metrics are nice, but rewards have decreased.

That is deliberate.  We may tweak it again if it's not working out.  We wanted to bulk out the middle range 0.5,1,5,10's and reduce the 0.01's and introduce the 100's & 200's to try and create a more realistic spread.

If people are disadvantaged over others that mined early, then I will try to redress that issue.  Because that runs entirely counter to the whole intention of the coin.  But that is mainly because people would get upset if I reset the network and called to start it all again.

There will always be people who will have a disadvantage when it comes to mining. Even one is early, someone with a mining farm can easily overtake him with regards to number of coins mined. It is admirable though that you are trying to be fair to everyone as much as possible.

LETHEAN  (https://lethean.io/) ★ DECENTRALIZED P2P VPN ★ Whitepaper (https://lethean.io/vpn-whitepaper/)
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August 07, 2018, 09:25:51 AM
 #31

Hello, I'm trying your alpha :
Code:
...
Found token! @2018-08-06 12:30:09 +0000 Ore:0 method:0 value:0.5
Token Address: 00000000-0000-00000032-000F92B8-00061284-0004D37B-000CDE...
Token successfully registered with Veldspar node.
...

What to do from here ?
How can we get the network and mining information ?

The next release of the node has a network statistics output,  showing what has been found,  what denominations etc.  I will post a link to the JSON api on here when it’s gone up.

I upgraded to 0.0.3 and it seems that i'm finding way less tokens. Metrics are nice, but rewards have decreased.

That is deliberate.  We may tweak it again if it's not working out.  We wanted to bulk out the middle range 0.5,1,5,10's and reduce the 0.01's and introduce the 100's & 200's to try and create a more realistic spread.

If people are disadvantaged over others that mined early, then I will try to redress that issue.  Because that runs entirely counter to the whole intention of the coin.  But that is mainly because people would get upset if I reset the network and called to start it all again.

There will always be people who will have a disadvantage when it comes to mining. Even one is early, someone with a mining farm can easily overtake him with regards to number of coins mined. It is admirable though that you are trying to be fair to everyone as much as possible.

I think i'm fine with a farm doing that, as for this concept, someone producing 5k hashes/second should get (on average) 5x the reward of someone mining at 1k h/s.  Because the bigger miner doesn't affect the little guy at all (well in theory is unlikely to).  But the problem was someone mining at 1k h/s using algo v1 would have the same reward as someone producing 5k h/s using v2 algo now.

Which is a shame, and we will be far more vigilant going forward.  It's just a shame it allowed some people to amass 20k coins in a day.

But yeah, big mines should not disadvantage little miners (except for the production of coin, and therefore the dilution of it's value I guess, urgh ... there is always something).
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August 07, 2018, 11:50:44 AM
 #32

The links are not working.
It's much more difficult to mine with this new version ?

Sorry, those links above?  They should be working .....

Yes, it is more difficult to mine the ore, but the rewards have been fleshed out to be a bit bigger.
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August 07, 2018, 11:53:03 AM
 #33

Is Veldspar token on etherium blockchain,

or coin with its own blockchain ?

Where can I find and read more information about this ?

Thanks

█████████████████████████
████▐██▄█████████████████
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BC.GAME
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.
..CASINO....SPORTS....RACING..
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August 07, 2018, 12:51:22 PM
 #34

mining with 130 cpu cores...

avg'ng 1.8KH/s per core.

234KH/s

 Cool

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August 07, 2018, 06:58:10 PM
Last edit: August 12, 2018, 02:44:44 PM by Tuanken897
 #35

Hi Dev
If you are looking for Vietnamese translator, please contact me.
This is a good project. Looking forward to more updates
Thanks
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August 07, 2018, 08:44:09 PM
 #36

Is Veldspar token on etherium blockchain,

or coin with its own blockchain ?

Where can I find and read more information about this ?

Thanks

Nope it is completely original and unique.
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August 07, 2018, 08:51:32 PM
 #37

The links are not working.
It's much more difficult to mine with this new version ?

Sorry, those links above?  They should be working .....

Yes, it is more difficult to mine the ore, but the rewards have been fleshed out to be a bit bigger.

OK links are now working for me.
And about rewards I can see some 200 one minted, with my old core i7 920
Code:
Processing block 1322 of 1322
Processing block 1323 of 1323
Processing block 1324 of 1324
Incoming token added to your wallet with a value of 0.1
Incoming token added to your wallet with a value of 1.0
Processing block 1325 of 1325
Processing block 1326 of 1326
Processing block 1327 of 1327
Incoming token added to your wallet with a value of 0.5
Incoming token added to your wallet with a value of 200.0
Processing block 1328 of 1328
Processing block 1329 of 1329
Processing block 1330 of 1330
Processing block 1331 of 1331
Processing block 1332 of 1332
Processing block 1333 of 1333
Processing block 1334 of 1334
Incoming token added to your wallet with a value of 0.01
Incoming token added to your wallet with a value of 0.01
Incoming token added to your wallet with a value of 0.5
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August 07, 2018, 08:57:48 PM
 #38

The links are not working.
It's much more difficult to mine with this new version ?

Sorry, those links above?  They should be working .....

Yes, it is more difficult to mine the ore, but the rewards have been fleshed out to be a bit bigger.

OK links are now working for me.
And about rewards I can see some 200 one minted, with my old core i7 920
Code:
Processing block 1322 of 1322
Processing block 1323 of 1323
Processing block 1324 of 1324
Incoming token added to your wallet with a value of 0.1
Incoming token added to your wallet with a value of 1.0
Processing block 1325 of 1325
Processing block 1326 of 1326
Processing block 1327 of 1327
Incoming token added to your wallet with a value of 0.5
Incoming token added to your wallet with a value of 200.0
Processing block 1328 of 1328
Processing block 1329 of 1329
Processing block 1330 of 1330
Processing block 1331 of 1331
Processing block 1332 of 1332
Processing block 1333 of 1333
Processing block 1334 of 1334
Incoming token added to your wallet with a value of 0.01
Incoming token added to your wallet with a value of 0.01
Incoming token added to your wallet with a value of 0.5


Nice, gotta love those 200's.
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August 09, 2018, 10:44:52 AM
 #39

Here is an update on the upcoming maintenance of Veldspar.

https://medium.com/@napoleonbonafrog/veldspar-a-new-beginning-5bf9f08a2482
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August 12, 2018, 05:57:49 AM
Last edit: August 12, 2018, 07:59:10 AM by cyberspacemonkey
 #40

Nice to see a project with a completely new algo that is for CPU mining only, I hope it stays CPU only for a while.
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August 12, 2018, 08:03:20 AM
 #41

Nice to see a project with a completely new algo that is for CPU mining only, I hope it stays CPU only for a while.

Well we hope so, we are just completing a planned upgrade to the blockchain and with it, the mining parameters are now deterministic, so if we identify an issue we can just roll out updates to the miner algorithms.  But we are going to design GPU & ASIC algo's which are balanced with CPU's to give less of an advantage and keep a level playing field.
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August 12, 2018, 08:15:08 AM
 #42

the mined coins are not locked during the sales period, I usually see dev like that
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August 12, 2018, 08:23:17 AM
 #43

the mined coins are not locked during the sales period, I usually see dev like that

sorry I'm not sure I understand that statement.
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August 12, 2018, 09:54:00 AM
 #44

Nice to see a project with a completely new algo that is for CPU mining only, I hope it stays CPU only for a while.

Well we hope so, we are just completing a planned upgrade to the blockchain and with it, the mining parameters are now deterministic, so if we identify an issue we can just roll out updates to the miner algorithms.  But we are going to design GPU & ASIC algo's which are balanced with CPU's to give less of an advantage and keep a level playing field.


Well that's great you're considering this because I guess it's just a matter of time before someone manages to figure out a way to crack the code to give GPUs an advantage, I've noticed that happen on many coins already.
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August 14, 2018, 11:30:45 AM
 #45

luckily the algo can be changed on the fly  Wink
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August 16, 2018, 05:26:24 PM
Last edit: August 16, 2018, 05:40:23 PM by hankrules
 #46

It looks like a miner written in C has been released:
https://github.com/VeldsparCrypto/megaminer

It's fast, and there aren't many people mining.

            ▄▄████▄▄
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August 16, 2018, 08:08:30 PM
 #47

any plans for an exchange ?

SAFE.TRADE  | Max supply: 235,000 URX for 69 years | CRATEX.IO
Don't forget the old saying — it is necessary to hurry slowly.
  Website   Whitepaper   ANN thread  Explorer
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August 16, 2018, 11:40:46 PM
Merited by editfmah (1)
 #48

When moon ?  Grin
The project is at a very early stage if you read Discord the dust is just beginning to settle after a relauch today.
I would ask, when will the peer nodes become released. The answer shall not be different : we are in (pre) alpha.
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August 17, 2018, 03:50:17 AM
 #49

When moon ?  Grin
The project is at a very early stage if you read Discord the dust is just beginning to settle after a relauch today.
I would ask, when will the peer nodes become released. The answer shall not be different : we are in (pre) alpha.

Transfers and peer nodes are the next phase, and it will be a long and painful phase for sure.
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August 18, 2018, 12:54:06 PM
Merited by editfmah (1)
 #50

New Windows miner works fine. The miner on Linux WSL crashed for me every few minutes, windows miner is running smooth for over 2 hours now.
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August 19, 2018, 03:40:19 AM
 #51

New Windows miner works fine. The miner on Linux WSL crashed for me every few minutes, windows miner is running smooth for over 2 hours now.


Good to see there's a windows miner out, from what I read you have to run an instance for each CPU core you have? is the new miner able to use all cores?
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August 19, 2018, 03:43:30 AM
 #52

New Windows miner works fine. The miner on Linux WSL crashed for me every few minutes, windows miner is running smooth for over 2 hours now.


Good to see there's a windows miner out, from what I read you have to run an instance for each CPU core you have? is the new miner able to use all cores?

Feedback says that the windows one works well across all cores.  Jury is still out on the linux one despite being the same codebase I haven't had enough consistent feedback on the latest release to know for sure.
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August 19, 2018, 07:32:21 AM
 #53

Jury is still out on the linux one ...

What do you mean, the linux c miner works fine for me. Great work @editfmah
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August 19, 2018, 11:48:25 AM
 #54

May I suggest:

Share a dev-donation address on here. Then those of us not willing and/or able to compile linux wallets, can still play around with the miner.


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August 20, 2018, 06:23:35 AM
 #55

i download image 2 times, then i try to extract i get error message



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August 20, 2018, 06:31:31 AM
 #56

The project has opened, but has not seen much promotion on the social networking channel
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August 20, 2018, 07:15:41 AM
 #57

I've tried to learn about this project from the post, but still cant really get what the project means.
Is there any website link or something else that contain another information for me to learn about this project.
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August 20, 2018, 11:51:03 AM
 #58

I've tried to learn about this project from the post, but still cant really get what the project means.
Is there any website link or something else that contain another information for me to learn about this project.

Hi glasbren,

At the moment there is no website, only this ANN, and the GitHub post.   It is something we will get around to producing it, but some of the pressing questions that people would expect to find on a website we are not in a position to answer at this precise moment, they would only be very broad guesses based on limited statistical information and I feel that would be disingenuous.

Always happy to try and answer questions or explain parts of the system on our discord channel whenever I am around though.

Thanks
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August 20, 2018, 12:34:00 PM
 #59

The project has opened, but has not seen much promotion on the social networking channel

No sense to promote until it will not be stable
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August 20, 2018, 12:53:20 PM
 #60

The project has opened, but has not seen much promotion on the social networking channel

No sense to promote until it will not be stable

Yes at the moment quiet is a good thing.
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August 20, 2018, 01:22:12 PM
 #61

It was very interesting, but it is a pity that there is no support for Windows. I like your concept, it seems fair. so the first one and the last one was equal opportunity.
Is there really no support for Windows, which means mining must use miners, in my opinion it is unfair, because it will cause a token holder monopoly
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August 20, 2018, 01:31:35 PM
 #62

It was very interesting, but it is a pity that there is no support for Windows. I like your concept, it seems fair. so the first one and the last one was equal opportunity.
Is there really no support for Windows, which means mining must use miners, in my opinion it is unfair, because it will cause a token holder monopoly

windows cli wallet:
https://github.com/CaptainMeatloaf/veldspar-cs/releases/tag/v0.0.5.1

windows miner:

https://github.com/VeldsparCrypto/megaminer/releases

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August 20, 2018, 01:33:54 PM
 #63

It was very interesting, but it is a pity that there is no support for Windows. I like your concept, it seems fair. so the first one and the last one was equal opportunity.
Is there really no support for Windows, which means mining must use miners, in my opinion it is unfair, because it will cause a token holder monopoly

There are windows wallets and miners now.  But also windows users can run VM's or install Linux.  I don't think it's really that unfair.  At best it's an inconvenience.
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August 21, 2018, 03:21:01 AM
Last edit: August 21, 2018, 03:46:13 AM by holderwhale999
 #64

i have 45 cores on VM but miner running only with 4 cores, how can i mine with 45 cores ?
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August 21, 2018, 04:30:15 AM
 #65

i have 45 cores on VM but miner running only with 4 cores, how can i mine with 45 cores ?

--threads 45
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August 21, 2018, 04:39:38 AM
 #66



less hashing power with 45 cores (
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August 21, 2018, 05:05:30 AM
 #67



less hashing power with 45 cores (

Oh right, you are using the swift miner.  Use megaminer, it's about 5x faster
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August 21, 2018, 05:11:45 AM
 #68

this one ? https://bitcointalk.org/index.php?topic=2059039.0

find it

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August 21, 2018, 05:20:45 AM
 #69


https://github.com/VeldsparCrypto/megaminer/releases
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August 21, 2018, 05:21:10 AM
 #70

how i can see my hashing speed in megaminer ?
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August 21, 2018, 05:22:15 AM
 #71

how i can see my hashing speed in megaminer ?

you can't.  All you can see is the reward.  The hashing speed is, sadly irrelevant and not a good measure.
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August 21, 2018, 05:30:40 AM
 #72





now better ) thank you
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August 22, 2018, 03:17:05 AM
 #73

My miner keeps crashing and I'm getting "core dumped" error on linux does anyone know of any compiling options to fix this?
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August 22, 2018, 03:52:24 AM
 #74

My miner keeps crashing and I'm getting "core dumped" error on linux does anyone know of any compiling options to fix this?

i get this error 2 times yesterday, but now all working fine ~ 14 hours. This may be probably when the seed node goes offline for some reason.
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August 22, 2018, 05:42:17 AM
 #75

My miner keeps crashing and I'm getting "core dumped" error on linux does anyone know of any compiling options to fix this?

If you can get us that dump or indeed some kind of crash backtrace then we can try and work out where the crash is and how to stop it.
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August 23, 2018, 01:06:07 AM
 #76

My miner keeps crashing and I'm getting "core dumped" error on linux does anyone know of any compiling options to fix this?

If you can get us that dump or indeed some kind of crash backtrace then we can try and work out where the crash is and how to stop it.


It may have something to do with how I compiled it, Is there a log saved somewhere that I can copy and paste here? I'm a bit of a noob with linux.
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August 23, 2018, 02:21:02 AM
 #77

My windows cli wallet


An error occurred while reading the wallet file, showing the result

Unhandled Exception: Newtonsoft.Json.JsonReaderException: Additional text encountered after finished reading JSON content: . Path '', line 1, position 6000.
   at Newtonsoft.Json.JsonTextReader.Read()
   at Newtonsoft.Json.Serialization.JsonSerializerInternalReader.Deserialize(JsonReader reader, Type objectType, Boolean checkAdditionalContent)
   at Newtonsoft.Json.JsonSerializer.DeserializeInternal(JsonReader reader, Type objectType)
   at Newtonsoft.Json.JsonConvert.DeserializeObject(String value, Type type, JsonSerializerSettings settings)
   at Newtonsoft.Json.JsonConvert.DeserializeObject[T](String value, JsonSerializerSettings settings)
   at SimpleWallet.WalletContainer.Read(String filePath, String password)
   at SimpleWallet.Program.Main(String[] args)


How to deal with it?
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August 23, 2018, 03:35:35 AM
 #78

As this ORE things are mineable forever, does that means the total supply of this coins became unlimited?
If that how it is, then how do you maintain the price of this coins?
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August 23, 2018, 04:52:50 AM
 #79

As this ORE things are mineable forever, does that means the total supply of this coins became unlimited?
If that how it is, then how do you maintain the price of this coins?

The interesting part if you read the original post is that it has "No fixed reward and no fixed supply", depending on mining power it will adjust accordingly if I understand correctly.
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August 23, 2018, 08:31:41 AM
 #80

As this ORE things are mineable forever, does that means the total supply of this coins became unlimited?
If that how it is, then how do you maintain the price of this coins?

The interesting part if you read the original post is that it has "No fixed reward and no fixed supply", depending on mining power it will adjust accordingly if I understand correctly.

There is no calculable supply.  Only a likelihood:  So for instance there are about:

1.206*10^24 possible ore positions:

On average only 1 in 830k positions yields a hash starting in the range fff4->ffff, which is only the gateway condition, so that reduces the probability to:
1.45*10^18

Then, there are only 9000 magic beans of Unsigned 32 Bit Integer which have to be exactly matched within the hash. Those obviously have a combination of 4,294,967,295 possible values, and the key has 60 chances to match one of only 9000.

This drops the possibilities to (and i've just roughly tried to work this out so please forgive some rounding):
182,306,394,022,900

Now these on average may have a value of around 0.48 veldspar (based on running some numbers this morning).

But, as depletion takes hold an exponential chance of finding ore which has already been mined occurs. Making, the emission not a straight forward line.

AND

The ORE & Hashes are all incalculable and random.  Which makes a straightforward calculation exceptionally difficult.  It could be that some sets of bytes yeild many results and some absolutely nothing.
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August 23, 2018, 08:42:35 AM
 #81

As this ORE things are mineable forever, does that means the total supply of this coins became unlimited?
If that how it is, then how do you maintain the price of this coins?

The interesting part if you read the original post is that it has "No fixed reward and no fixed supply", depending on mining power it will adjust accordingly if I understand correctly.

There is no calculable supply.  Only a likelihood:  So for instance there are about:

1.206*10^24 possible ore positions:

On average only 1 in 830k positions yields a hash starting in the range fff4->ffff, which is only the gateway condition, so that reduces the probability to:
1.45*10^18

Then, there are only 9000 magic beans of Unsigned 32 Bit Integer which have to be exactly matched within the hash. Those obviously have a combination of 4,294,967,295 possible values, and the key has 60 chances to match one of only 9000.

This drops the possibilities to (and i've just roughly tried to work this out so please forgive some rounding):
182,306,394,022,900

Now these on average may have a value of around 0.48 veldspar (based on running some numbers this morning).

But, as depletion takes hold an exponential chance of finding ore which has already been mined occurs. Making, the emission not a straight forward line.

AND

The ORE & Hashes are all incalculable and random.  Which makes a straightforward calculation exceptionally difficult.  It could be that some sets of bytes yeild many results and some absolutely nothing.

Very good that you answer all the questions as needed. Usually the technical answers to get you need to go to the chat room and get there for a long time. With this approach, I am sure that you will succeed. Continue in the same spirit.
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August 23, 2018, 10:25:38 AM
 #82

When can we expect token distribution?
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August 23, 2018, 10:28:31 AM
 #83

When can we expect token distribution?


As in transfers?  That is currently being worked on. It is not far off, but it has fallen behind making the node software stable.

I will be writing a medium post on the progress and other issues later on.
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August 24, 2018, 04:41:43 AM
Last edit: August 24, 2018, 05:13:30 AM by cyberspacemonkey
 #84

As this ORE things are mineable forever, does that means the total supply of this coins became unlimited?
If that how it is, then how do you maintain the price of this coins?

The interesting part if you read the original post is that it has "No fixed reward and no fixed supply", depending on mining power it will adjust accordingly if I understand correctly.

There is no calculable supply.  Only a likelihood:  So for instance there are about:

1.206*10^24 possible ore positions:

On average only 1 in 830k positions yields a hash starting in the range fff4->ffff, which is only the gateway condition, so that reduces the probability to:
1.45*10^18

Then, there are only 9000 magic beans of Unsigned 32 Bit Integer which have to be exactly matched within the hash. Those obviously have a combination of 4,294,967,295 possible values, and the key has 60 chances to match one of only 9000.

This drops the possibilities to (and i've just roughly tried to work this out so please forgive some rounding):
182,306,394,022,900

Now these on average may have a value of around 0.48 veldspar (based on running some numbers this morning).

But, as depletion takes hold an exponential chance of finding ore which has already been mined occurs. Making, the emission not a straight forward line.

AND

The ORE & Hashes are all incalculable and random.  Which makes a straightforward calculation exceptionally difficult.  It could be that some sets of bytes yeild many results and some absolutely nothing.

Thanks for the very well detailed explanation, and so like you mentioned in the medium article this is also going to make it very hard to get it listed on exchanges but do you think p2p trading would be possible once transactions are working?
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August 24, 2018, 05:06:16 AM
 #85

As this ORE things are mineable forever, does that means the total supply of this coins became unlimited?
If that how it is, then how do you maintain the price of this coins?

The interesting part if you read the original post is that it has "No fixed reward and no fixed supply", depending on mining power it will adjust accordingly if I understand correctly.

There is no calculable supply.  Only a likelihood:  So for instance there are about:

1.206*10^24 possible ore positions:

On average only 1 in 830k positions yields a hash starting in the range fff4->ffff, which is only the gateway condition, so that reduces the probability to:
1.45*10^18

Then, there are only 9000 magic beans of Unsigned 32 Bit Integer which have to be exactly matched within the hash. Those obviously have a combination of 4,294,967,295 possible values, and the key has 60 chances to match one of only 9000.

This drops the possibilities to (and i've just roughly tried to work this out so please forgive some rounding):
182,306,394,022,900

Now these on average may have a value of around 0.48 veldspar (based on running some numbers this morning).

But, as depletion takes hold an exponential chance of finding ore which has already been mined occurs. Making, the emission not a straight forward line.

AND

The ORE & Hashes are all incalculable and random.  Which makes a straightforward calculation exceptionally difficult.  It could be that some sets of bytes yeild many results and some absolutely nothing.

Thanks for the very well detailed explanation, and so like you mentioned in the medium article this is also going to make it very hard to get it listed on an exchanges but do you think p2p trading would be possible once transactions are working?

Yes, I think it would be possible.  It is more about getting good feedback from the exchanges as to how they might need to operate.  So far the Exchange i have contacted has not responded.  But I have talked to lead developers from other coin systems to try and establish what kinds of interfaces they need and how wallet arrangements would work in practice.

I don't think the economics will necessarily make it difficult to get listed, that would be more a choice for the investors to make.  I am not looking to make any sweeping changes to the way the coin operates, but, there will be a point where some decisions would have to be made about wether we take everything we have learned so far, and start again, run with modifications to the existing blockchain etc.

We are still alpha, and we would not have found these issues without significant input from miners, allowing us to work out how this concept worked in reality.

I will be posting another medium article within the next day detailing my thoughts and probably have a community poll to work out where to go from here, because the next formation (based on what we know), will be the final major structural change as we move into Beta/Release.

But I do want to make this absolutely clear, no-ones effort so far will be wasted, if we decide to shrink the ORE to reduce the supply then I will be converting existing tokens over to the newer, shorter format tokens and I will do that in an open and transparent way that is easily audit-able.

Then the community will need to decide if the wish to remain with the current fiat style denominations, or go for crazy satoshi numbers (which makes no difference but somehow make people more comfortable dealing with incomprehensible fractions).

As I say, the next major upheaval will kind of be the last hurrah before it gets more serious and starts to form an actual viable product.
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August 24, 2018, 05:13:21 AM
 #86

I should say for any spectators, feedback and suggestions are always welcome.  This is not a situation where one dev (who is not an economist) just arbitrarily makes decisions that affects the input people have already made, and only as a community of interested parties can we find a solution that meets the needs of many.

The reason to do things differently is to try and solve the issues facing current systems, so to that end, the best way to avoid them it to identify them early and make good decisions and that can only happen from feedback.
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August 24, 2018, 05:54:08 AM
 #87

I should say for any spectators, feedback and suggestions are always welcome.  This is not a situation where one dev (who is not an economist) just arbitrarily makes decisions that affects the input people have already made, and only as a community of interested parties can we find a solution that meets the needs of many.

The reason to do things differently is to try and solve the issues facing current systems, so to that end, the best way to avoid them it to identify them early and make good decisions and that can only happen from feedback.

I like the idea of denominations like FIA, I also believe that this notation can make it easier for non crypto gurus understand how this tokens works.

Smiley
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August 24, 2018, 06:59:26 AM
 #88

Hi team!

We just launched a new ICO platform in Korea called CoinFocus.

We are offering FREE listing and banner services for soft launch promotion. Get in touch with us on Telegram or via our services page! The ICO packages are right now +60% off!

Good luck on your token sale!!  Grin

Very best,
Katherine from CoinFocus


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All content in English & Korean => COINFOCUS
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August 26, 2018, 08:28:42 AM
 #89

So I tried compiling the miner from source again and it still continues to crash, however I tried using the pre-compiled from the github and it works fine.
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August 26, 2018, 10:12:25 AM
 #90

So I tried compiling the miner from source again and it still continues to crash, however I tried using the pre-compiled from the github and it works fine.

Very strange is it different types of miners? In this case, the team must be corrected and equated with what is on the githab to everyone else. I usually just from what I put in the githab always take because the site is easier to hack and put the virus but the githab hack is harder.
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August 26, 2018, 10:38:12 AM
 #91

So I tried compiling the miner from source again and it still continues to crash, however I tried using the pre-compiled from the github and it works fine.

Very strange is it different types of miners? In this case, the team must be corrected and equated with what is on the githab to everyone else. I usually just from what I put in the githab always take because the site is easier to hack and put the virus but the githab hack is harder.


No, what you're saying does not make sense. The difference could be because of the versions of libraries and dependencies that I used to compile it.
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August 27, 2018, 12:35:32 AM
 #92

So I tried compiling the miner from source again and it still continues to crash, however I tried using the pre-compiled from the github and it works fine.

Very strange is it different types of miners? In this case, the team must be corrected and equated with what is on the githab to everyone else. I usually just from what I put in the githab always take because the site is easier to hack and put the virus but the githab hack is harder.


No, what you're saying does not make sense. The difference could be because of the versions of libraries and dependencies that I used to compile it.

muthafucker cant even SPELL github, and they try talk like they know how code works.  Cheesy
if he did he would have realized how what he was saying was one of the dumbest coding sentences you could ever speak
and that it would be OBVIOUSLY an environment problem if he knew what he was saying, as YOU said Tongue

this is what spammers have made this forum Sad

Looking forward to velspar development, this is finally something INTERESTING atleast

~Got this girl in my bed, a roof over my head, i mint a couple coins a week, and thats how i make bread~
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Prohashing  -- Simply the best Multipool!
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August 28, 2018, 05:18:41 AM
 #93

Another blog detailing some of the short term, future plans.

https://medium.com/@napoleonbonafrog/falling-apart-under-pressure-cdfa55636ae3
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August 28, 2018, 08:41:14 AM
 #94

Really glad to see something different, welcome Veldspar and good luck! Will keep an eye on you...

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August 28, 2018, 09:03:37 AM
 #95

So, the poll posted on Discord was as follows:  (This probably isn't the best place to hold a poll but hey!)

1) Should we stick with the current Fiat style of denomination or move to satoshi style? (0.00 :thumbsup: , 0.00000000 :thumbsdown: ) ?


2) There will be another Blockchain restart, no-one will loose any tokens, does everyone understand this or will I get loads of DM's and Mentions on here (Yes I Understand :thumbsup: , no I need to be banned :smiley:  :thumbsdown: )



You have to think about more than just the perceived value of what you have mined so far when thinking about the next question.  Because just because something is scarce does not automatically add value, there also has to be liquidity.

People HODL'ing really hurts a currency if there is not enough to have movement on exchanges, so wanting only 10MM in circulation will kill everything flat if you want this coin to succeed.  But also you do not want everything to be too numerous either.

With that in mind, would you like the economic target to be (estimated) (all at 0.00 denominations, otherwise far more tokens need to be produced :

1)   100M Veldspar (around 50M Tokens)
2)  500M Veldspar (around 250M Tokens)
3)  1BN Veldspar (you get the point)
4)  10BN, Veldspar
5)  100BN Veldspar
6)  1TN Veldspar
7)  Other(edited)
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August 28, 2018, 09:16:07 AM
 #96

So, the poll posted on Discord was as follows:  (This probably isn't the best place to hold a poll but hey!)

1) Should we stick with the current Fiat style of denomination or move to satoshi style? (0.00 :thumbsup: , 0.00000000 :thumbsdown: ) ?


2) There will be another Blockchain restart, no-one will loose any tokens, does everyone understand this or will I get loads of DM's and Mentions on here (Yes I Understand :thumbsup: , no I need to be banned :smiley:  :thumbsdown: )



You have to think about more than just the perceived value of what you have mined so far when thinking about the next question.  Because just because something is scarce does not automatically add value, there also has to be liquidity.

People HODL'ing really hurts a currency if there is not enough to have movement on exchanges, so wanting only 10MM in circulation will kill everything flat if you want this coin to succeed.  But also you do not want everything to be too numerous either.

With that in mind, would you like the economic target to be (estimated) (all at 0.00 denominations, otherwise far more tokens need to be produced :

1)   100M Veldspar (around 50M Tokens)
2)  500M Veldspar (around 250M Tokens)
3)  1BN Veldspar (you get the point)
4)  10BN, Veldspar
5)  100BN Veldspar
6)  1TN Veldspar
7)  Other(edited)


Oh, i missed this?!
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August 30, 2018, 02:15:08 AM
 #97

So, the poll posted on Discord was as follows:  (This probably isn't the best place to hold a poll but hey!)

1) Should we stick with the current Fiat style of denomination or move to satoshi style? (0.00 :thumbsup: , 0.00000000 :thumbsdown: ) ?


2) There will be another Blockchain restart, no-one will loose any tokens, does everyone understand this or will I get loads of DM's and Mentions on here (Yes I Understand :thumbsup: , no I need to be banned :smiley:  :thumbsdown: )



You have to think about more than just the perceived value of what you have mined so far when thinking about the next question.  Because just because something is scarce does not automatically add value, there also has to be liquidity.

People HODL'ing really hurts a currency if there is not enough to have movement on exchanges, so wanting only 10MM in circulation will kill everything flat if you want this coin to succeed.  But also you do not want everything to be too numerous either.

With that in mind, would you like the economic target to be (estimated) (all at 0.00 denominations, otherwise far more tokens need to be produced :

1)   100M Veldspar (around 50M Tokens)
2)  500M Veldspar (around 250M Tokens)
3)  1BN Veldspar (you get the point)
4)  10BN, Veldspar
5)  100BN Veldspar
6)  1TN Veldspar
7)  Other(edited)


Oh, i missed this?!



Is the poll still ongoing? I would vote to move to satoshi style denomination and for supply I guess I'm ok with 10BN Veldspar.
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August 30, 2018, 08:27:52 AM
 #98

So, the poll posted on Discord was as follows:  (This probably isn't the best place to hold a poll but hey!)

1) Should we stick with the current Fiat style of denomination or move to satoshi style? (0.00 :thumbsup: , 0.00000000 :thumbsdown: ) ?


2) There will be another Blockchain restart, no-one will loose any tokens, does everyone understand this or will I get loads of DM's and Mentions on here (Yes I Understand :thumbsup: , no I need to be banned :smiley:  :thumbsdown: )



You have to think about more than just the perceived value of what you have mined so far when thinking about the next question.  Because just because something is scarce does not automatically add value, there also has to be liquidity.

People HODL'ing really hurts a currency if there is not enough to have movement on exchanges, so wanting only 10MM in circulation will kill everything flat if you want this coin to succeed.  But also you do not want everything to be too numerous either.

With that in mind, would you like the economic target to be (estimated) (all at 0.00 denominations, otherwise far more tokens need to be produced :

1)   100M Veldspar (around 50M Tokens)
2)  500M Veldspar (around 250M Tokens)
3)  1BN Veldspar (you get the point)
4)  10BN, Veldspar
5)  100BN Veldspar
6)  1TN Veldspar
7)  Other(edited)


Oh, i missed this?!



Is the poll still ongoing? I would vote to move to satoshi style denomination and for supply I guess I'm ok with 10BN Veldspar.

Yes it's still open until I feel everyone has had a fair say and put their positions forward.  So is that 10BN + 8dp, would be 1,000,000,000,000,000,000 units. I'd hate to think about the size of the blockchain at that point (around 7TB).  8dp, and 100M feels more sustainable.  But I will take note of your wants.

Maybe I should phrase it as how many tokens should it be likely possible to mine.

What were your reasons for wanting satoshi 8dp?  Trading?
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August 30, 2018, 08:37:31 AM
 #99

So, the poll posted on Discord was as follows:  (This probably isn't the best place to hold a poll but hey!)

1) Should we stick with the current Fiat style of denomination or move to satoshi style? (0.00 :thumbsup: , 0.00000000 :thumbsdown: ) ?


2) There will be another Blockchain restart, no-one will loose any tokens, does everyone understand this or will I get loads of DM's and Mentions on here (Yes I Understand :thumbsup: , no I need to be banned :smiley:  :thumbsdown: )



You have to think about more than just the perceived value of what you have mined so far when thinking about the next question.  Because just because something is scarce does not automatically add value, there also has to be liquidity.

People HODL'ing really hurts a currency if there is not enough to have movement on exchanges, so wanting only 10MM in circulation will kill everything flat if you want this coin to succeed.  But also you do not want everything to be too numerous either.

With that in mind, would you like the economic target to be (estimated) (all at 0.00 denominations, otherwise far more tokens need to be produced :

1)   100M Veldspar (around 50M Tokens)
2)  500M Veldspar (around 250M Tokens)
3)  1BN Veldspar (you get the point)
4)  10BN, Veldspar
5)  100BN Veldspar
6)  1TN Veldspar
7)  Other(edited)


Oh, i missed this?!



Is the poll still ongoing? I would vote to move to satoshi style denomination and for supply I guess I'm ok with 10BN Veldspar.

Yes it's still open until I feel everyone has had a fair say and put their positions forward.  So is that 10BN + 8dp, would be 1,000,000,000,000,000,000 units. I'd hate to think about the size of the blockchain at that point.  8dp, and 100M feels more sustainable.  But I will take note of your wants.

Maybe I should phrase it as how many tokens should it be likely possible to mine.

Damn I just didn't take the blockchain size into account, what you're proposing is actually a lot more reasonable then.  
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August 30, 2018, 08:38:05 AM
 #100

So, the poll posted on Discord was as follows:  (This probably isn't the best place to hold a poll but hey!)

1) Should we stick with the current Fiat style of denomination or move to satoshi style? (0.00 :thumbsup: , 0.00000000 :thumbsdown: ) ?


2) There will be another Blockchain restart, no-one will loose any tokens, does everyone understand this or will I get loads of DM's and Mentions on here (Yes I Understand :thumbsup: , no I need to be banned :smiley:  :thumbsdown: )



You have to think about more than just the perceived value of what you have mined so far when thinking about the next question.  Because just because something is scarce does not automatically add value, there also has to be liquidity.

People HODL'ing really hurts a currency if there is not enough to have movement on exchanges, so wanting only 10MM in circulation will kill everything flat if you want this coin to succeed.  But also you do not want everything to be too numerous either.

With that in mind, would you like the economic target to be (estimated) (all at 0.00 denominations, otherwise far more tokens need to be produced :

1)   100M Veldspar (around 50M Tokens)
2)  500M Veldspar (around 250M Tokens)
3)  1BN Veldspar (you get the point)
4)  10BN, Veldspar
5)  100BN Veldspar
6)  1TN Veldspar
7)  Other(edited)


Oh, i missed this?!



Is the poll still ongoing? I would vote to move to satoshi style denomination and for supply I guess I'm ok with 10BN Veldspar.

Yes it's still open until I feel everyone has had a fair say and put their positions forward.  So is that 10BN + 8dp, would be 1,000,000,000,000,000,000 units. I'd hate to think about the size of the blockchain at that point.  8dp, and 100M feels more sustainable.  But I will take note of your wants.

Maybe I should phrase it as how many tokens should it be likely possible to mine.

Damn, I just didn't take the blockchain size into account, what you're proposing is actually a lot more reasonable then. 

Hey, i'm up for anything.  I love a challenge!
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September 06, 2018, 07:32:42 AM
 #101

So, the poll posted on Discord was as follows:  (This probably isn't the best place to hold a poll but hey!)

1) Should we stick with the current Fiat style of denomination or move to satoshi style? (0.00 :thumbsup: , 0.00000000 :thumbsdown: ) ?


2) There will be another Blockchain restart, no-one will loose any tokens, does everyone understand this or will I get loads of DM's and Mentions on here (Yes I Understand :thumbsup: , no I need to be banned :smiley:  :thumbsdown: )



You have to think about more than just the perceived value of what you have mined so far when thinking about the next question.  Because just because something is scarce does not automatically add value, there also has to be liquidity.

People HODL'ing really hurts a currency if there is not enough to have movement on exchanges, so wanting only 10MM in circulation will kill everything flat if you want this coin to succeed.  But also you do not want everything to be too numerous either.

With that in mind, would you like the economic target to be (estimated) (all at 0.00 denominations, otherwise far more tokens need to be produced :

1)   100M Veldspar (around 50M Tokens)
2)  500M Veldspar (around 250M Tokens)
3)  1BN Veldspar (you get the point)
4)  10BN, Veldspar
5)  100BN Veldspar
6)  1TN Veldspar
7)  Other(edited)


Oh, i missed this?!



Is the poll still ongoing? I would vote to move to satoshi style denomination and for supply I guess I'm ok with 10BN Veldspar.

Yes it's still open until I feel everyone has had a fair say and put their positions forward.  So is that 10BN + 8dp, would be 1,000,000,000,000,000,000 units. I'd hate to think about the size of the blockchain at that point.  8dp, and 100M feels more sustainable.  But I will take note of your wants.

Maybe I should phrase it as how many tokens should it be likely possible to mine.

Damn, I just didn't take the blockchain size into account, what you're proposing is actually a lot more reasonable then.  

Hey, i'm up for anything.  I love a challenge!

After reading your Medium article, I think it actually makes more sense switching to the fiat style denomination and 100M Veldspar would be best in order to keep the blockchain size small.
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September 06, 2018, 03:09:25 PM
 #102

Hi, here is the latest news and network plan.  Also has first semblance of economic information and supply etc.
https://medium.com/p/969b942a713d?source=linkShare-c1d186c98e27-1536246452
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September 08, 2018, 06:40:16 AM
 #103

Hi, here is the latest news and network plan.  Also has first semblance of economic information and supply etc.
https://medium.com/p/969b942a713d?source=linkShare-c1d186c98e27-1536246452


Thanks for the update dev, so I'm guessing after the update the new wallet and miner will be available this Sunday right?
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September 08, 2018, 10:09:46 PM
 #104

Hi, here is the latest news and network plan.  Also has first semblance of economic information and supply etc.
https://medium.com/p/969b942a713d?source=linkShare-c1d186c98e27-1536246452


Thanks for the update dev, so I'm guessing after the update the new wallet and miner will be available this Sunday right?

It will be next Sunday, it's too soon to test all the changes that are being made.
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September 08, 2018, 10:14:03 PM
 #105

Normally a bounty campaign should start parallel or even before ICO starts, so that you can attract more potential investors. They are still organizing the bounty campaign and the half of the ICO is already finished then.
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September 08, 2018, 10:22:30 PM
 #106

Normally a bounty campaign should start parallel or even before ICO starts, so that you can attract more potential investors. They are still organizing the bounty campaign and the half of the ICO is already finished then.

what? wrong thread perhaps?
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September 08, 2018, 10:23:02 PM
 #107

Normally a bounty campaign should start parallel or even before ICO starts, so that you can attract more potential investors. They are still organizing the bounty campaign and the half of the ICO is already finished then.

what? wrong thread perhaps?

i think he was looking for room101.
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September 09, 2018, 01:36:55 AM
 #108

Hi, here is the latest news and network plan.  Also has first semblance of economic information and supply etc.
https://medium.com/p/969b942a713d?source=linkShare-c1d186c98e27-1536246452


Thanks for the update dev, so I'm guessing after the update the new wallet and miner will be available this Sunday right?

It will be next Sunday, it's too soon to test all the changes that are being made.



Ok that's understandable, take your time. I'm confident that in due time with all the work you're doing and with the help of the community Veldspar will be a success in many ways.
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September 23, 2018, 01:12:56 PM
 #109

There were no messages here for two weeks...
How is work going on? Is there any news?
What are the plans for the near future?
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September 24, 2018, 01:26:30 AM
 #110

There were no messages here for two weeks...
How is work going on? Is there any news?
What are the plans for the near future?

It's been delayed for now, I guess the dev is probably busy doing other things but he's still active and working on an update.
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September 24, 2018, 08:39:01 AM
 #111

Yes and no, I am always busy on other things, but actually this has turned out to be quite a bit of work.  And since i'm in that place I decided to make other changes that would help in the future too.  Fixing the build on Ubuntu 18 seemed like a good idea, removing dependencies on uncommon libs etc....

I did also contemplate a re-write into c/c++, but actually as swift support spreads the issues of deployment will go away.

Having discussed the project at great length, there are also other changes we will make.  The whole "design" for exchange mentality needs to stop, as the coins provide no purpose and little benefit for humanity.  The "Ore" system, provides an opportunity to change that and to have real value and reward for humanity, but will not necessarily fit with the ideals of money markets.  But that is all future thoughts.
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September 24, 2018, 11:01:43 AM
 #112

If not a secret how many people in the team? Or do you work alone? As it seems to me it is necessary to hire more managers on work with the community otherwise there will be gaps in the answers and in communication. When there are no replies and the team disappears, there immediately appears a fool that the project has closed.

Crypto is a very unique industry, where the line between "deserves to be in jail" and "leading member of the community" is as thin as one-ply toilet paper.
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September 24, 2018, 06:04:37 PM
 #113

If not a secret how many people in the team? Or do you work alone? As it seems to me it is necessary to hire more managers on work with the community otherwise there will be gaps in the answers and in communication. When there are no replies and the team disappears, there immediately appears a fool that the project has closed.

It is just me with a couple of extra devs working on things like wallets, API services and some of the P2P network design.  We are always recruiting for more, but it's early days and lots to do.  I think PR is a problem when you have more than a handful of miners to deal with.

I am pretty active on Discord which is our main interface to the world.
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October 08, 2018, 12:03:13 AM
 #114

Any idea when transactions will be enabled? Maybe it's too soon for this but it would be nice to at least have some otc trading available. 
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October 08, 2018, 12:19:55 AM
 #115

From what I read in these last paragraphs in the ANN initial post, can it only be mined on these platforms described? For windows have any position?
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October 08, 2018, 12:59:35 AM
 #116

From what I read in these last paragraphs in the ANN initial post, can it only be mined on these platforms described? For windows have any position?

You can only run the wallet on linux for now, but there is already a miner that works on Windows.
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October 08, 2018, 01:08:43 AM
 #117

Any idea when transactions will be enabled? Maybe it's too soon for this but it would be nice to at least have some otc trading available. 
if in my opinion, it's better to be activated immediately so that many people have otc trading, sir. if it is too long, fear will be delayed and there will be many obstacles. of course it's very uncomfortable
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October 08, 2018, 08:13:50 AM
 #118

Any idea when transactions will be enabled? Maybe it's too soon for this but it would be nice to at least have some otc trading available. 
if in my opinion, it's better to be activated immediately so that many people have otc trading, sir. if it is too long, fear will be delayed and there will be many obstacles. of course it's very uncomfortable

There has been much re-work of the codebase, transactions have been completed but as of yet we have not made a release to production.  So, there will be another release, along with the much planned re-boot of the blockchain and this will be within the next 2 weeks.

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October 09, 2018, 01:06:07 AM
 #119

Any idea when transactions will be enabled? Maybe it's too soon for this but it would be nice to at least have some otc trading available.  
if in my opinion, it's better to be activated immediately so that many people have otc trading, sir. if it is too long, fear will be delayed and there will be many obstacles. of course it's very uncomfortable

There has been much re-work of the codebase, transactions have been completed but as of yet we have not made a release to production.  So, there will be another release, along with the much planned re-boot of the blockchain and this will be within the next 2 weeks.




That's great! thanks for the update and for all the work you do on the project, it's hard to come by projects that are built from scratch these days.
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October 20, 2018, 08:59:49 PM
 #120

Hopefully this will add a bit of perspective and focus.

https://medium.com/@napoleonbonafrog/whats-the-point-why-bother-d04089ea724f
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October 21, 2018, 11:54:06 AM
 #121

Hopefully this will add a bit of perspective and focus.

https://medium.com/@napoleonbonafrog/whats-the-point-why-bother-d04089ea724f


Thanks, it's definitely a good read and I like the humanitarian focus that you're putting on the project without leaving out the economics altogether.
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November 04, 2018, 01:06:55 PM
 #122

Astonishing concept  Grin I will mine this.
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December 05, 2018, 11:35:14 PM
 #123

So a bit of a status update on development, and that is that we are jumping straight to v0.2.0 in the roadmap and skipping 0.1.0 altogether.

What has been achieved:

1. Blockchain size and speed reduced and increased significantly.
2. Nodes will now be active for all functions, wallets and miners will connect to those local nodes and any changes to the blockchain will be broadcast to all connected nodes.
3. All nodes attempt to create and hash the blocks themselves but until 0.3.0 they will double check with the seed nodes that they have the correct data.  Nodes which are not accessible from the outside world will always far and will always download block data from the swarm.
4. Generation of PoW is performed serially, so cannot be optimised with more cores/GPUs.
5. Data synchronisation is optimised to flow as fast as possible even if the nodes are underpowered, this will mean that regardless of state/stage transactions should remain atomic as all transactions are sequentially numbered and replayed.
6. Swapped to 1 min blocks to reduce the impact of a block being hashed and the time it takes.
7. Target inclusion is +30 blocks to give the network plenty of time to sync.
8. Difficulty is now super hard to reduce registration impact on the service.

What is outstanding before general release:

1. Memory leak in the sync mechanism needs resolving.
2. Transaction size when performing a transfer can become painfully huge, which is a basic design compromise of this system.  This may not be resolved before release but will need to be looked into.
3. Windows wallet needs to be updated to use the new mechanism.
4. A public node will need to be made available for those unable to run Ubuntu 16/18.
5. Produce binaries for download of the wallet & miner.
6. Decide if the seed node will publish block data to a standard web server to be served up for wallets.  This will avoid people having to run a node just to populate their wallet.  Obviously this isn’t very de-centralised, but will offload one of the biggest

I have been struggling for time over the past few weeks, but just a few little niggles remain in the little bits of dev outstanding.  Chief of which is the denominations system, which although solving some problems, causes others.

If we were to fix all tokens at `0.01` VELD, then to transfer 100 VELD to another wallet would require 10,000 new entries in the blockchain to be created.  Which is quite heavy handed.  Whereas if they are mixed, that transaction on average would be around 3,000 entries which is much better.

But you could also be left with a wallet full of 50.00 VELD tokens, so would be unable to transfer say 20.00 VELD to anyone.

So in that respect, the network also has to in the future (if this even becomes and issue) include some kind of “change” system/service which will be funded from the network fee collection pot.

But for the initial version it’s just something that needs to be worked around and the community members will just have to offer that service or, indeed I will if I can.

I’m looking forward to the release, if only so I don’t have to keep restarting the current service every couple of hours.


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December 11, 2018, 03:38:31 PM
 #124

So a bit of a status update on development, and that is that we are jumping straight to v0.2.0 in the roadmap and skipping 0.1.0 altogether.

What has been achieved:

1. Blockchain size and speed reduced and increased significantly.
2. Nodes will now be active for all functions, wallets and miners will connect to those local nodes and any changes to the blockchain will be broadcast to all connected nodes.
3. All nodes attempt to create and hash the blocks themselves but until 0.3.0 they will double check with the seed nodes that they have the correct data.  Nodes which are not accessible from the outside world will always far and will always download block data from the swarm.
4. Generation of PoW is performed serially, so cannot be optimised with more cores/GPUs.
5. Data synchronisation is optimised to flow as fast as possible even if the nodes are underpowered, this will mean that regardless of state/stage transactions should remain atomic as all transactions are sequentially numbered and replayed.
6. Swapped to 1 min blocks to reduce the impact of a block being hashed and the time it takes.
7. Target inclusion is +30 blocks to give the network plenty of time to sync.
8. Difficulty is now super hard to reduce registration impact on the service.

What is outstanding before general release:

1. Memory leak in the sync mechanism needs resolving.
2. Transaction size when performing a transfer can become painfully huge, which is a basic design compromise of this system.  This may not be resolved before release but will need to be looked into.
3. Windows wallet needs to be updated to use the new mechanism.
4. A public node will need to be made available for those unable to run Ubuntu 16/18.
5. Produce binaries for download of the wallet & miner.
6. Decide if the seed node will publish block data to a standard web server to be served up for wallets.  This will avoid people having to run a node just to populate their wallet.  Obviously this isn’t very de-centralised, but will offload one of the biggest

I have been struggling for time over the past few weeks, but just a few little niggles remain in the little bits of dev outstanding.  Chief of which is the denominations system, which although solving some problems, causes others.

If we were to fix all tokens at `0.01` VELD, then to transfer 100 VELD to another wallet would require 10,000 new entries in the blockchain to be created.  Which is quite heavy handed.  Whereas if they are mixed, that transaction on average would be around 3,000 entries which is much better.

But you could also be left with a wallet full of 50.00 VELD tokens, so would be unable to transfer say 20.00 VELD to anyone.

So in that respect, the network also has to in the future (if this even becomes and issue) include some kind of “change” system/service which will be funded from the network fee collection pot.

But for the initial version it’s just something that needs to be worked around and the community members will just have to offer that service or, indeed I will if I can.

I’m looking forward to the release, if only so I don’t have to keep restarting the current service every couple of hours.




I stopped mining this a while ago. Will old coins be valid after new release?
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December 12, 2018, 06:16:43 AM
 #125

So a bit of a status update on development, and that is that we are jumping straight to v0.2.0 in the roadmap and skipping 0.1.0 altogether.

What has been achieved:

1. Blockchain size and speed reduced and increased significantly.
2. Nodes will now be active for all functions, wallets and miners will connect to those local nodes and any changes to the blockchain will be broadcast to all connected nodes.
3. All nodes attempt to create and hash the blocks themselves but until 0.3.0 they will double check with the seed nodes that they have the correct data.  Nodes which are not accessible from the outside world will always far and will always download block data from the swarm.
4. Generation of PoW is performed serially, so cannot be optimised with more cores/GPUs.
5. Data synchronisation is optimised to flow as fast as possible even if the nodes are underpowered, this will mean that regardless of state/stage transactions should remain atomic as all transactions are sequentially numbered and replayed.
6. Swapped to 1 min blocks to reduce the impact of a block being hashed and the time it takes.
7. Target inclusion is +30 blocks to give the network plenty of time to sync.
8. Difficulty is now super hard to reduce registration impact on the service.

What is outstanding before general release:

1. Memory leak in the sync mechanism needs resolving.
2. Transaction size when performing a transfer can become painfully huge, which is a basic design compromise of this system.  This may not be resolved before release but will need to be looked into.
3. Windows wallet needs to be updated to use the new mechanism.
4. A public node will need to be made available for those unable to run Ubuntu 16/18.
5. Produce binaries for download of the wallet & miner.
6. Decide if the seed node will publish block data to a standard web server to be served up for wallets.  This will avoid people having to run a node just to populate their wallet.  Obviously this isn’t very de-centralised, but will offload one of the biggest

I have been struggling for time over the past few weeks, but just a few little niggles remain in the little bits of dev outstanding.  Chief of which is the denominations system, which although solving some problems, causes others.

If we were to fix all tokens at `0.01` VELD, then to transfer 100 VELD to another wallet would require 10,000 new entries in the blockchain to be created.  Which is quite heavy handed.  Whereas if they are mixed, that transaction on average would be around 3,000 entries which is much better.

But you could also be left with a wallet full of 50.00 VELD tokens, so would be unable to transfer say 20.00 VELD to anyone.

So in that respect, the network also has to in the future (if this even becomes and issue) include some kind of “change” system/service which will be funded from the network fee collection pot.

But for the initial version it’s just something that needs to be worked around and the community members will just have to offer that service or, indeed I will if I can.

I’m looking forward to the release, if only so I don’t have to keep restarting the current service every couple of hours.




I stopped mining this a while ago. Will old coins be valid after new release?

Yes,  all mining activity has been transferred.
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December 24, 2018, 09:58:02 PM
 #126

Glad to see you're still working on it. Is there a way to check my balance without a wallet at the moment?
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December 25, 2018, 09:57:10 PM
 #127

Glad to see you're still working on it. Is there a way to check my balance without a wallet at the moment?

Not yet, but i'm just testing an online web-wallet which will be read-only, with no transfers.  I'll post here once it's up.
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March 05, 2019, 10:36:45 PM
 #128

Are the devs still making progress on this?
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March 07, 2019, 02:50:20 PM
 #129

Are the devs still making progress on this?

Very ... very slowly.  The pressure of family life and work leave little time to work on this projects.  I have several major features functionally complete but they need a few hours to really shore them up for testing on a test net, plus a backlog of support requests.

I ams till hoping for help from other developers too!  That would make a big difference.
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June 28, 2021, 04:33:56 PM
 #130

still a live ?
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