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Author Topic: [ANN] Ember: An instant and feeless cryptocurrency for the future.  (Read 18801 times)
EmberCrypto (OP)
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October 21, 2018, 08:30:07 PM
Last edit: April 07, 2019, 01:50:55 PM by EmberCrypto
 #1



Ember is an entirely new, instant, and feeless cryptocurrency, designed to live up to the term and be a currency. Our goal is to enable payments between anyone, anywhere. We don’t believe in shouting buzzwords or centralization. We believe in providing the best tech possible (instant, feeless, trustless, decentralized, secure), for the best currency possible, focusing only on elements that improve the currency itself. We started this journey, and have gotten this far, with:
  • No ICO.
  • No Corporate Backing.
  • No Venture Capital.

For a quick summary, all Ember transactions are stored on a DAG, allowing non-latent transactions, yet a blockchain also secures the network, providing heightened security via Proof of Work. The two work together according to the brand new Merit Caching Consensus Mechanism, designed and written for Ember. Ember also offers data transmission, yet makes sure that transactions will always be prioritized over data.

Our purpose in this announcement is to start building the Ember community and acquire new members for our core team! If you are interested in developing Ember, and have the skills to contribute, please get in contact with our lead developer at lukep@meroscrypto.io.

Specifications:
  • Name: Ember
  • Symbol: EMB
  • Block Time: 10 Minutes
  • Block Reward: Not finalized.
  • Total Supply: Not applicable.
  • Mining Algorithm: Argon2d (CPU only)
  • Signature Scheme: Ed25519 (DAG Entries) and BLS (Verifications)
  • Address Format: Bech32
  • Premine: The equivalent of 2 weeks of the block reward at launch. Then, 1 more week every 6 months, for a total of 7 weeks.

FAQ

How far along is Ember?
Ember has been in development for over 5 months now. We currently are running a Developer Testnet, which means it's public to anyone who can compile the Node.

How is Ember instant if it uses a blockchain?
This is due to the Merit Caching Consensus Mechanism. The Merit Caching Whitepaper is linked above, yet to summarize it:
  • All transactions are published to the DAG.
  • Verifiers submit Verifications, which are valid as soon as they are received.
  • A transaction is confirmed when it gets 50.1% of the weight.
  • The blockchain archives these verifications.

How is this PoW if there’s Verifiers and weight?
The blockchain is mined via Argon2d. Mining the blockchain earns weight, which is used to verify entries on the DAG. Verifications are then archived on the blockchain, and new EMB is distributed based on those Verifications.

Why does Ember have data transmission but not a smart contract engine?
Data transmission enables a smart contract engine, yet we believe that is a separate project than a currency, best left to a second layer. We will offer a BTC style scripting engine though.

How does Ember handle spam?
Typically, transaction fees stop spam. Since Ember doesn’t have those, we have an adjustable spam filter where users must ‘spend’ CPU cycles to prove their transaction isn’t spam. Data transmission has a separate spam filter, which is how we make sure transactions will always be prioritized over data.

Why is the total supply not applicable?
In order to continue to reward miners, when there’s no transaction fees, there will always be a block reward.

Why are you using two different signature schemes?
Ed25519 is simply a better algorithm than the ‘traditional’ SECP256k1 algorithm. That said, BLS allows signature aggregation. This means we can have one signature for hundreds, or even thousands, of Verifications, and verify them all at once.

Why are you doing a premine and not an ICO?
A time-locked premine means we only make money if we deliver a working product and the coin succeeds. An ICO means we make money for having a great marketing team. It’s fairer to the community to do a premine.

When will Ember be launched?
Once Ember’s protocol is finalized, we’ll create a public testnet, and have the codebase audited. While this happens, we’ll build an Explorer and start work on mobile wallets. When the testnet is proven secure, the Ember mainnet will be launched! This is planned for the first quarter of 2019.

dkbit98
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October 21, 2018, 08:31:31 PM
 #2

Nice thing that there is No ICO, but can you give as more information
about total coin supply and premine?

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..CASINO....SPORTS....RACING..
Memnon
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October 21, 2018, 08:35:03 PM
 #3

Great project, great main dev.
Supporting 100%.
EmberCrypto (OP)
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October 21, 2018, 08:40:53 PM
 #4

There is no total supply, just like Ethereum. That said, the block reward will decrease over time, yet the details on how aren't finalized.

The premine is equivalent to 7 weeks of the block reward. 2 weeks are unlocked at launch, and 1 week is released every 6 months after.


---

Thanks for the support, Memnon and gkhang!

---

Since Ember is a brand new codebase, no existing pool software is compatible with Ember. We will make sure to build one before we launch. That said, as pools increase centralization, we do have some on chain features to decrease centralization.

When a block is mined, you earn 100 units of weight. You can pay out these 100 units to any one. You can take all 100, or distribute all 100. This means pools can give voting power directly to the participants, and not become a centralized monolith threatening the system.

cryptopathic
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October 21, 2018, 08:44:32 PM
 #5

Is there a connection to the already existing EMBER (EMB)?
EmberCrypto (OP)
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October 21, 2018, 08:48:54 PM
 #6

Not at all. Their original dev team left/scammed the community. The community has continued the coin, but only under plans to swap to a new coin called Atheneum. As soon as the swap is over, both the original team, and the revival team, will have left Ember, and there will be no community.

When we picked the name, I didn't know of any project called Ember. I did find Ember Coin a few weeks after, but thought it was dead/the revival team already did the coin swap. Only a few weeks ago did I realize they were still preparing for the coin swap.

By the time of the testnet, they'll likely have swapped. If this proves to be an issue, we'll pick a new name.
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October 21, 2018, 09:39:56 PM
 #7

Interesting, it looks like a mix of NANO with other mined cryptos, but it's not fork so it's something new. I'm following this project ...

DYOR
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October 21, 2018, 09:49:05 PM
 #8

res
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October 21, 2018, 09:54:03 PM
 #9

Kayaba is a great dev, a real star in the making.

Check out a few more bits of information on Ember from his Token Tv Developers corner interview.

https://www.youtube.com/watch?v=_KfRBtoKdnY

I will certainly be keeping a close eye on this one
EmberCrypto (OP)
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October 21, 2018, 09:57:46 PM
 #10

We did get a lot of inspiration from Nano, yet we aim to provide better security, more decentralization, and faster transaction handling (via a mix of better technology and incentivizing consensus participants).

---

Thanks for posting the Token TV interview!
EmberCrypto (OP)
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October 22, 2018, 01:17:25 AM
 #11

We did publish our 6th Biweekly Update today. It should be an interesting read for anyone who's just hearing about Ember! https://medium.com/@EmberCrypto/ember-biweekly-update-6-38b7b568911f
TimeTeller
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October 22, 2018, 01:25:54 AM
 #12

There is no total supply, just like Ethereum. That said, the block reward will decrease over time, yet the details on how aren't finalized.

The premine is equivalent to 7 weeks of the block reward. 2 weeks are unlocked at launch, and 1 week is released every 6 months after.



Meaning, your supply is infinite?
Also, are you going to provide us your block explorer?
EmberCrypto (OP)
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October 22, 2018, 01:28:18 AM
 #13

Correct.

We don't have an explorer yet as we've been focusing on the coin itself. When we do have one (if it is 'us' who makes one), it will be fully open source.
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October 22, 2018, 03:48:10 AM
 #14

Looks like an interesting project.  What is your strategy to keep someone from spamming the network with transactions given that there are no feeds? 
EmberCrypto (OP)
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October 22, 2018, 03:52:43 AM
 #15

We have an adjustable spam filter. It's the same process as mining, but much much less intensive. There are some other projects which do the same.
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October 22, 2018, 05:05:01 AM
 #16

Sounds like a great project. EmberCrypto, can you PM me. I was not able to PM you since I have newbie status and your setting don't allow messages from newbies. Thanks.
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October 22, 2018, 05:25:17 AM
 #17

you should have named it as [Pre-Ann] because a lot of thing need to be done and it seems you are still trying to figure out how to make it based on your coin specification.
Quote
Block Reward: Not finalized.
Total Supply: Not applicable.
also, i think you need to check this out ; https://bitcointalk.org/index.php?topic=4799548.0 (your competitor)
you and them are doing the same thing, feeless and instant payment. i ever used their network once or two, and they were doing it very good.
it was very fast and did not require any fees when i tried to send it from my wallet to another wallet.

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CASINO
EmberCrypto (OP)
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October 22, 2018, 05:37:08 AM
Last edit: October 22, 2018, 06:09:50 AM by EmberCrypto
 #18

P2P: PMed. You can also email us, PM us on Twitter, or join our Discord though!

DaMut: Fair enough! We should've used "PRE-ANN".

About x42:
  • They are not instant. They have a 60 second block time (on their main chain).
  • They offer side blockchains, which splits up the network, We use a DAG and a singular blockchain, which work together.
  • They premined 25%. We have a premine, which after 3 years (the amount of time it's supposed to last for), will be 4.5% of the total supply.
  • They offer smart contracts. We have a personal belief that smart contracts shouldn't be layer one objects.

I would not call them a competitor (of course, all cryptocurrencies are competitors).
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October 22, 2018, 06:50:17 AM
 #19

I would try to build without theses 4.5GB of deps to download and install before compiling. Are you the first to use this dev framework stack ?
EmberCrypto (OP)
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October 22, 2018, 07:13:17 AM
 #20

Our dependencies, besides the common things like GCC/G++, are "Nim, Nimble, GMP, Chia's BLS library, and LibSodium". The only unusual ones there are Nim/Nimble and BLS.

We are the first to build a cryptocurrency with Nim. We aren't the first to build a cryptocurrency node in Nim. That credit goes to Status who built an Ethereum node with Nim. We picked it because it compiles to C/C++, has full interop, and is very elegant. If you want to know more, I talked about it on the previously linked podcast.

We are one of the first cryptocurrencies to use BLS. That said, ZCash, and I assume ZClassic, also uses it, and it is in the Eth 2.0 spec. I do not know what specific lib ZCash uses though. We use the one from Chia.

The Nimble packages are:
  • A GMP wrapper.
  • A BLS wrapper.
  • A WebView wrapper (GUI).
  • A Nim event-based programming module that we wrote ourselves.
  • A Nim cryptography lib (SHA and so on).
  • A RocksDB wrapper (currently unused).

Finally, we do ship Argon2 inside the Ember repository. A couple of other cryptocurrencies use that, and there's pretty much one lib for it.
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