[ANN][PYCH]PyChain - Python based PoW/PoS payment system [now without fork]

[eljundrilo]

https://i.imgur.com/gMgqB14.png

• What is PyChain?
  PyChain is a Python-based Blockchain and is meant to provide two things:
  -An easy-to-understand reference implementation of a PoS coin, so that even beginners can read and understand the code with ease.
  -An easy-to-implement and easy-to-extend payment system with secure payment gateways for merchants and customers alike.

Initially, PyChain was meant to be forked from Bismuth, as it is a really decent project with a different use case. The fact that the usecase is different and also a few untransparent features led me to decide against the fork. PyChain is now mainly from scratch.

PyChain aims to be transparent and honest. I, for myself, encountered many scammers in the crypto market and I want to do something about that. To satisfy the oncoming PyChain community, all teammembers and I will provide transparency about our funds, spendings, and development process in the best manner.

This project is NOT as flashy as most modern coins you can see. It is entirely built on the paradigm "Functionality over form" (We even lack a graphical designer yet)

• Technical Summary
  
  • System: PoW until reference implementation for PoS is tested and ready to use
  • Hashing algorithm: Keccak384 (SHA3)
  • Signing algorithm: to be decided
  • Transaction size: to be announced
  • Mining reward: to be announced
  • Difficulty: dynamically controlled using Kimoto Gravity Wave
  • Difficulty retarget: each block
  • PoW rewards: 50,000,000 in total
  • PoS rewards: to be announced
  • Smallest unit:  0.00000001, similar to a Satoshi in Bitcoin
  • Efficiency and readability optimized
  • Asymmetric message and data encryption
• What purpose does PyChain have?
  As mentioned above, PyChain is meant to provide an easy-to-understand reference implementation of a PoS / PoW coin in Python and will serve as a payment gateway for merchants and customers alike. Wallets for Windows and Linux(Debian based distros) are nearly ready to use.
  MacOS, Android, iOS are planned.
  
• Exchanges?
  Exchange listings are expensive. As we've got no funds, we have to rely on either free exchange listings or community supported listings.
  
  
  
• Any questions or concerns? Get in touch!
  
  • Discord:   https://discord.gg/q5Mzpuw
  • Telegram:https://t.me/joinchat/DWUX60UhH9I13Pfq1VK8tg
  • Github:   https://github.com/DanielChain/PyChain-nofork
    

For any kind of inquiries, either for hiring or any personal questions, don't hesitate to contact me!
admin@pychain.io or  on any other of our communication channels.



TIMELINE:

• 24.06.2018 - Development began
• 30.09.2018 - Bitcointalk ANN Thread
• 3.10.2018 - Delay of Github release due to a flaw
• 11.10.2018 - Release of Github, further announcements
• November 2018 - Implementation Bitcoin-like RPC API and exchange listings

[/list]

[1714249192]

1714249192

[1714249192]

1714249192

[gpu-pool.com]

reserved

[gold969]

• What is PyChain?
  PyChain is a Python-based Blockchain and is meant to provide two things:
  -An easy-to-understand reference implementation of a PoS coin, so that even beginners can read and understand the code with ease.
  -An easy-to-implement and easy-to-extend payment system with secure payment gateways for merchants and customers alike.

PyChain uses several bits  of code from Bismuth, because it is an already excellent implementation of a Python-based dApp platform which provides many references for implementations used in non-dApp-platforms too.

PyChain aims to be transparent and honest. I, for myself, encountered many scammers in the crypto market and I want to do something about that. To satisfy the oncoming PyChain community, all teammembers and I will provide transparency about our funds, spendings, and development process in the best manner.

This project is NOT as flashy as most modern coins you can see. It is entirely built on the paradigm "Functionality over form" (We even lack a graphical designer yet)

• Technical Summary
  
  • System: PoW until reference implementation for PoS is tested and ready to use
  • Hashing algorithm: SHA224
  • Signing algorithm: PKCS1_v1_5
  • Transaction size: to be announced
  • Mining reward: to be announced
  • Difficulty: dynamically controlled
  • Difficulty retarget: each block
  • PoW rewards: 50,000,000 in total
  • PoS rewards: to be announced
  • Smallest unit:  0.00000001, similar to a Satoshi in Bitcoin
  • Efficiency and readability optimized
  • Asymmetric message and data encryption
• What purpose does PyChain have?
  As mentioned above, PyChain is meant to provide an easy-to-understand reference implementation of a PoS / PoW coin in Python and will serve as a payment gateway for merchants and customers alike. Wallets for Windows and Linux(Debian based distros) are nearly ready to use.
  MacOS, Android, iOS are planned.
  
• Exchanges?
  Exchange listings are expensive. As we've got no funds, we have to rely on either free exchange listings or community supported listings.
  
  To do this, we will provide full transparency on all transactions of our funds:
  You, as an investor, can see how much we spend and for what.
  
  As we need funds for exchange listings, we will have to do a fundraise:
  Every 500 Satoshi nets you 1 PYCH.
  => 1 BTC = 200000 PYCH
  
  This "presale" is limited to 10*200000= 2 Million PYCH, because this should be enough to list PYCH on exchanges such as Cryptobridge and Cryptopia.
  
  To participate in this presale, please proceed as following:
  
  • 1. Send me a message, either via Telegram, Discord or Bitcointalk PM, before you send BTC. This way, I can confirm a certain transaction is from you.
  • 2. Send the corresponding amount of BTC to:  3GszLsAmQiEs1GrDMx7NALHgaKwqvh1kYP .
    In case you're somehow concerned about that, please don't hesitate to communicate. I will answer as soon as possible via all communication channels listed below.
  • 3. As soon as the wallet is up and live, download it from the official github (listed below, links will be posted here too), send me your address and I'll send you the amount of PYCH you bought.
    
• Any questions or concerns? Get in touch!
  
  • Website:  Pychain.io (under construction until 2nd of October 2018
  • Discord:   https://discord.gg/jCFjpp
  • Telegram:https://t.me/joinchat/DWUX60UhH9I13Pfq1VK8tg
  • Github:    Release on 3rd of November 2018, 12:00 GMT
    

For any kind of inquiries, either for hiring or any personal questions, don't hesitate to contact me!
admin@pychain.io or  on any other of our communication channels.



TIMELINE:

• 24.06.2018 - Development began
• 30.09.2018 - Bitcointalk ANN Thread
• 31.10.2018 - End of presale, release of stable Wallet V1
• November 2018 - Implementation Bitcoin-like RPC API and exchange listings

[/list]

 you have little information to attract investors, for example, what are your personal interests? pre-mined?

[eljundrilo]

https://i.imgur.com/gMgqB14.png

• What is PyChain?
  PyChain is a Python-based Blockchain and is meant to provide two things:
  -An easy-to-understand reference implementation of a PoS coin, so that even beginners can read and understand the code with ease.
  -An easy-to-implement and easy-to-extend payment system with secure payment gateways for merchants and customers alike.

PyChain uses several bits  of code from Bismuth, because it is an already excellent implementation of a Python-based dApp platform which provides many references for implementations used in non-dApp-platforms too.

PyChain aims to be transparent and honest. I, for myself, encountered many scammers in the crypto market and I want to do something about that. To satisfy the oncoming PyChain community, all teammembers and I will provide transparency about our funds, spendings, and development process in the best manner.

This project is NOT as flashy as most modern coins you can see. It is entirely built on the paradigm "Functionality over form" (We even lack a graphical designer yet)

• Technical Summary
  
  • System: PoW until reference implementation for PoS is tested and ready to use
  • Hashing algorithm: SHA224
  • Signing algorithm: PKCS1_v1_5
  • Transaction size: to be announced
  • Mining reward: to be announced
  • Difficulty: dynamically controlled
  • Difficulty retarget: each block
  • PoW rewards: 50,000,000 in total
  • PoS rewards: to be announced
  • Smallest unit:  0.00000001, similar to a Satoshi in Bitcoin
  • Efficiency and readability optimized
  • Asymmetric message and data encryption
• What purpose does PyChain have?
  As mentioned above, PyChain is meant to provide an easy-to-understand reference implementation of a PoS / PoW coin in Python and will serve as a payment gateway for merchants and customers alike. Wallets for Windows and Linux(Debian based distros) are nearly ready to use.
  MacOS, Android, iOS are planned.
  
• Exchanges?
  Exchange listings are expensive. As we've got no funds, we have to rely on either free exchange listings or community supported listings.
  
  To do this, we will provide full transparency on all transactions of our funds:
  You, as an investor, can see how much we spend and for what.
  
  As we need funds for exchange listings, we will have to do a fundraise:
  Every 500 Satoshi nets you 1 PYCH.
  => 1 BTC = 200000 PYCH
  
  This "presale" is limited to 10*200000= 2 Million PYCH, because this should be enough to list PYCH on exchanges such as Cryptobridge and Cryptopia.
  
  To participate in this presale, please proceed as following:
  
  • 1. Send me a message, either via Telegram, Discord or Bitcointalk PM, before you send BTC. This way, I can confirm a certain transaction is from you.
  • 2. Send the corresponding amount of BTC to:  3GszLsAmQiEs1GrDMx7NALHgaKwqvh1kYP .
    In case you're somehow concerned about that, please don't hesitate to communicate. I will answer as soon as possible via all communication channels listed below.
  • 3. As soon as the wallet is up and live, download it from the official github (listed below, links will be posted here too), send me your address and I'll send you the amount of PYCH you bought.
    
• Any questions or concerns? Get in touch!
  
  • Website:  Pychain.io (under construction until 2nd of October 2018
  • Discord:   https://discord.gg/jCFjpp
  • Telegram:https://t.me/joinchat/DWUX60UhH9I13Pfq1VK8tg
  • Github:    Release on 3rd of November 2018, 12:00 GMT
    

For any kind of inquiries, either for hiring or any personal questions, don't hesitate to contact me!
admin@pychain.io or  on any other of our communication channels.



TIMELINE:

• 24.06.2018 - Development began
• 30.09.2018 - Bitcointalk ANN Thread
• 31.10.2018 - End of presale, release of stable Wallet V1
• November 2018 - Implementation Bitcoin-like RPC API and exchange listings

[/list]

 you have little information to attract investors, for example, what are your personal interests? pre-mined?

There is no premine and there will be no premine. The first 2 Million PYCH will be generated and sold in the presale. Anything leftover from the presale will be burned.

We will profit from this coin when merchant payment gateways will be implemented, because we will take a small fee (0.1%) of each merchant transaction.

[ruplikminer]

How to mine? is it ASICS resistant? GPU? CPU?

[eljundrilo]

@ruplikminer

Yes, the coin will be ASIC resistant. First there will be only a CPU miner. A AMD and NVIDIA miner will be released later.

[eljundrilo]

@ruplikminer

Yes, the coin will be ASIC resistant. First there will be only a CPU miner. A AMD and NVIDIA miner will be released later.

is your coin made from scratch?

Not entirely. Some major components are forked from Bismuth.
My goal is to alter this code and expand it with my own to fit our use case and write decent documentation (because that's what bugged me the most when I tried to understand Bitcoin, Dash and similar coins).

[mnprosoft]

discord link broken.

[eljundrilo]

Thank you, I renewed the discord link:

https://discord.gg/WwnMVSm

[eqpoolcom]

reserved

[LITEX-DEV]

Don't trust! He is a scammer!!! This dev wanted to overtake another coin and he scammed the dev team!!!

He is without money and he will make money with this presale!

Daniel his name from Paderborn in Germany.

Even for this project he have no money to list it on a exchange. You will loose every cent when you will invest here!

[/color][/b]

[Fearlessfight3r]

Do you need translation

[MassiveStroke]

Where can i find Roadmap or white paper?I did not see

[ImaginePeresti]

What is this a joke )

[lukireyuzi]

They are upgrading it to a supergroup now - you will be allowed to join soon.

[ImaginePeresti]

I still can mining do solo this coin?

[E1k2n]

Do you need translation

Always possible in the future, keep watching the progress and announcements on discord

Where can i find Roadmap or white paper?I did not see

As for now, roadmap and white paper has not been officially released

They are upgrading it to a supergroup now - you will be allowed to join soon.

Dev is still looking for workers who wants to dedicate their time on the project

I still can mining do solo this coin?

There is no pool or miner available at this point in development

[E1k2n]

Great project, looking forward  a pleasant cooperation, we want to list you coin on our exchange. A great start, search MXshine! or  marketing@mxshine.com

www.mxshine.com

Thanks for your application. As a community coin we will look into your offer when time is there.

[eljundrilo]

Thanks @E1k2n  for answering the questions.
I'm in contact with hiim via our Discord, sorry for checking back on Bitcointalk so seldom.
For further inquiries about listings or questions, please also feel free to refer to our Telegram Group or official Discord as mentioned above.

A full whitepaper and a roadmap are to be released in the upcoming 2 weeks.

[kexukamugu]

Hoping for the best for this project.