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Author Topic: [ANN][GALI][AIRDROP/BOUNTIES] - MN/PoS/zPoS Hybrid - Dynamic Zerocoin Staking  (Read 6364 times)
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December 14, 2018, 06:15:06 PM
Last edit: February 13, 2019, 09:09:33 AM by mbroemme
 #1

[ WHITEPAPER TRANSLATION BOUNTY OPENED ]


[ WEBSITE  |  EXPLORER  |  GITHUB  |  INFO  |  WHITEPAPER  |  WALLETS  |  DISCORD  |  TWITTER  |  FACEBOOK ]



[ Galilel Coin ]

Galilel Coin (GALI and zGALI) is an open-source public and private Proof-of-Stake digital crypto currency for fast (using SwiftX), private (Zerocoin protocol) and secure micro transactions. Our main goal is to create a decentralized fully secure and anonymous network to run applications, which do not rely on any central body control. By having a distributed system, thousands of users will be responsible for maintaining the application and data so that there is no single point of failure.

While Zerocoin solves the traceable reward generation problem, Galilel will implement hybrid mobile Proof-of-Stake (ghPoS) for public and private coins. The Term Deposit (gTD) function allow to lock coins for a certain period and generate predictable rewards. Masternode owners get the possibility to vote for reward reduction or complete burning for a specific period to reduce coin generation. The Galilel Money Supply Control (gMSC), effectively Proof-of-Burn v2 burns only rewards, never term deposits and development budget. The period for coin burning will be 1 month with a range between 0% - 100%. Every month is applicable for voting. Galilel Instant On Masternode (gIOMN) implements a shared blockchain to run one-to-many wallet daemons in a client server model. It is comparable to "Instant On" model available in Electrum client.

With early release of Galilel wallet v3.1.0 we delivered the worlds first crypto currency which has proportional Zerocoin Proof-of-Stake (zPoS) rewards depending on the block reward!



[ Coin Specifications ]
________________________________________________________________________
DescriptionParameter
Coin nameGalilel
Coin tickerGALI
Hash algorithmQuark
Consensus algorithmPoS + zPoS Hybrid
Coin typePoW/PoS/zPoS/MN
Wallet letterU
Block size2 MB
Block time60 Seconds (Re-targeting every block)
RPC port36002
P2P port36001
Minimum staking age2 hours
Maturity120 confirmations
Send eligibility6 confirmations
Masternode collateral15,000
Last PoW block1,500
Rewards (till block 1,500)MN 60%, PoW 40%
Rewards (till block 205,000)MN 60%, PoS 40%
Rewards (from block 205,001)MN 70%, PoS 30%
Max Coin Supply (January 2020)19,035,999 GALI
Max Coin Supply (January 2030)45,315,999 GALI
Max Coin Supply (January 2040)71,595,999 GALI
Max Coin Supply (January 2050)97,875,999 GALI
Dynamic Coin SupplyTransaction fees & zGALI minting fees are burnt
Community donation address (BTC)13vZmvxWcpMxZPr2gtf4QBS8Q2En6kB3mo
Community donation address (GALI)UUr5nDmykhun1HWM7mJAqLVeLzoGtx19dX
Community donation address (LTC)MAfouCFTBX4hJWTmAvTpFSuwzUZr4gtxDv
Community donation address (DOGE)DFY1iAcbX8uQDaFAFQckSGJfYBb6QzTuMi
Dev Budget (from block 250,001)10% in monthly superblock

[ Zerocoin Specifications ]
________________________________________________________________________
DescriptionParameter
Zerocoin v1 activationblock 245,000
Zerocoin v2 activationblock 245,000
zGALI automint10%
zGALI rewards (from block 245,001)1 zGALI
zGALI rewards (from block 340,001)MN 40%, zPoS 60%
zGALI rewards (from block 430,001)MN 40%, zPoS 60%
zGALI denominators1, 5, 10, 50, 100, 500, 1000, 5000
Accumulator modulusRSA-2048
Maturity240 confirmations
Send eligibility20 confirmations
Fees (mint)0.01 GALI per minted zGALI denomination
Fees (spend)No fee

[ Proof-of-Work Rewards Breakdown ]
______________________________________________________________________
StagesBlock HeightRewardMNPoWCoin SupplyPeriodStage End
Stage 1Block 1220,000 GALI60%40%220,0000 days2018-05-25
Stage 2Block 2-1,5001 GALI60%40%221,4991 day2018-05-26

[ Proof-of-Stake Rewards Breakdown ]
______________________________________________________________________
StagesBlock HeightRewardMNPoSCoin SupplyPeriodStage End
Stage 11,501-12,000100 GALI60%40%1,271,3997 days2018-06-02
Stage 212,001-22,00090 GALI60%40%2,171,3097 days2018-06-09
Stage 322,001-42,00080 GALI60%40%3,771,22914 days2018-06-23
Stage 442,001-100,00070 GALI60%40%7,831,15940 days2018-08-02
Stage 5100,001-160,00060 GALI60%40%11,431,09942 days2018-09-13
Stage 6160,001-205,00050 GALI60%40%13,681,04931 days2018-10-14
Stage 7205,001-250,00025 GALI70%30%14,806,02431 days2018-11-14
Stage 8250,001-340,00013.5 GALI70%30%16,156,00962 days2019-01-15
Stage 9340,001-430,00010 GALI70%30%17,055,99962 days2019-03-18
Stage X430,001-infinity5 GALI70%30%ongoingongoingongoing

[ Competitive Analysis ]
______________________________________________________
FeatureGalilelDashPIVXROI Coin
Public StakingYNYN
Private StakingYNYN
Instant SendYYYN
Private SendYYYN
MasternodesYYYN
Decentralized Governance VotingYYYN
Variable Reward Distribution1NNYN
Dynamic Zerocoin Proof-of-StakeYNNN
Proof-of-TransactionYNNN
Variable Reward BurningYNNN
Disconnected BlockchainYNNN
Mobile Proof-of-StakeYNNN
Term DepositsYNNY
1 Possible to implement in Galilel using Seesaw algorithm



[ Community ]

Get in touch with the core team of Galilel, join our Discord channel, follow us on Twitter and Facebook or write a post in BitcoinTalk forum.

image loading...          image loading...          image loading...          image loading...

[ Marketing ]

Partners and market capitalisation websites promoting Galilel and providing monitoring or masternode hosting services.

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Maik Broemme
Miles Clay
Manuel Gogoll
Babyface#7772
Bossteck#6262
Cryptogerman#8070
Founder & Developer
Co-Founder & Designer
Marketing & Campaigns
Pascal Rebholz
Alex Mesquita
Sascha Volland
crypto5.0#6432
Alex Mesquita#9361
coreyou#6882
Marketing & Campaigns
Partnerships & Business Development
Partnerships & Business Development
Armand Pers
Christian Grieger
Ehsan Khademi
Bio_Logik#7089
Swooty#5527
eshby#4291
Designer
Front-End & Back-End Developer
Business Manager



[ Paper Wallet ]

Galilel Paper Wallet is an offline wallet, regarded as cold storage.



[ Binaries ]

We release new wallets with new features frequently as we are a blockchain development coin. To simplify maintenance you can always find latest version at our website.

Wallet Downloads

[ Repositories ]

Galilel repositories include wallet, backend and daemon source as well as media files.

image loading...

[ List of official active seeds ]

Code:
addnode=seed1.galilel.cloud
addnode=seed2.galilel.cloud
addnode=seed3.galilel.cloud
addnode=seed4.galilel.cloud
addnode=seed5.galilel.cloud
addnode=seed6.galilel.cloud
addnode=seed7.galilel.cloud
addnode=seed8.galilel.cloud



[ Exchanges ]

Galilel Coin can be traded on the following exchanges:

image loading...           image loading...          image loading...          image loading...           image loading...           image loading...



[ Help us to spread the word about Galilel Project worldwide! ]

For translating the ANN into one of the languages below you will be rewarded with 1000 GALI.
We do not accept the Google translate translations!

Arabic
Chinese - DONE
Croatian - DONE
Czech
Dutch - DONE
Filipino
French - DONE
German - DONE
Hungarian
Indian
Indonesian - DONE
Italian - DONE
Japanese
Korean
Polish
Portuguese
Romanian
Russian - DONE
Slovak
Spanish - DONE
Turkish
Ukraine
Vietnamese - DONE

[ WHITEPAPER TRANSLATION BOUNTY - OPENED - 2019-02-01 ]

For translating the whitepaper into one of the languages below you will be rewarded with 1000 GALI.
We do not accept the Google translate translations!

Arabic - DONE
Chinese
Croatian
Czech
Dutch
Filipino
French - RESERVED
German - RESERVED
Hungarian
Indian
Indonesian
Italian - DONE
Japanese
Korean
Polish
Portuguese
Romanian
Russian
Slovak
Spanish - RESERVED
Turkish
Ukraine
Vietnamese

For Word version of whitepaper, please send PM or come to our Discord

[ WHITEPAPER SPECIAL STAR TREK BOUNTY - 5000 GALI ]

This is a very special translation bounty and no joke. We will pay 5000 GALI to him/her who translates the whitepaper into Klingon language!



Open and ongoing in our Discord
__________________________________________________________
__________________________________________________________
__________________________________________________________

[ WEBSITE  |  EXPLORER  |  GITHUB  |  INFO  |  WHITEPAPER  |  WALLETS  |  DISCORD  |  TWITTER  |  FACEBOOK ]

______________________________
______________________________
______________________________

Your galilel.cloud Team

Founder of Galilel Coin
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December 14, 2018, 11:27:19 PM
 #2

Very interesting project which will implement unique blockchain features. I see DEV is very active. I can see his real identity and he absolutely has knowledge as well as experience to implement all blockchain improvements/features. I've really never seen such professionalism and commitment before. I hope this project will be equally successful as PIVX project.
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December 15, 2018, 04:20:08 AM
 #3



 a fairly well-prepared project that I see lately. I can not find the date of your launch of mining, and the last block shows a few days ago ??
287210   7bcaba211cde3ef22b7300930d6cfb83579de89b3e2e88c4fda9476d842cd6cb   2   13.50000000   Tue, 11 Dec 2018 23:08:41 GMT
 https://explorer.galilel.cloud/

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R  E  P  U  B  L  I  A
PRE-SALE :  23.08 - 23.09
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Highly Efficient Technology
Secure & Transparent
Full Democracy
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December 15, 2018, 10:59:55 AM
 #4



 a fairly well-prepared project that I see lately. I can not find the date of your launch of mining, and the last block shows a few days ago ??
287210   7bcaba211cde3ef22b7300930d6cfb83579de89b3e2e88c4fda9476d842cd6cb   2   13.50000000   Tue, 11 Dec 2018 23:08:41 GMT
 https://explorer.galilel.cloud/

The Genesis block is from May 25th and we had already an announcement in an old thread here at https://bitcointalk.org/index.php?topic=4238243.0 But it was with old specs and old use case. It was changed completely to a blockchain development coin and our users made already 2 hard forks with us, one for zGALI activation and another one for zPoS.

The explorer is currently a bit unstable. The Iquidus explorer and their forks are not working well for zPoS, we are going to change this next week to better one.

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December 15, 2018, 11:21:46 AM
 #5

It is a long waiting time, when all bounties, airdrops will be paid or opened on the 51th week.
More than one year after the launch of GALI main net, it is a long period, honestly.

Anyway, I have added the topic into my Following Spreadsheet for later use (one year from now).

Absolute.    ●    The First Proof of View Cryptocurrency    ●    Absolute.
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December 15, 2018, 04:39:15 PM
 #6

It is a long waiting time, when all bounties, airdrops will be paid or opened on the 51th week.
More than one year after the launch of GALI main net, it is a long period, honestly.

Anyway, I have added the topic into my Following Spreadsheet for later use (one year from now).

May 25th 2018 was the launch of Mainnet. Actually I can understand that it has been a long time, but I don't like to announce only myths and promises. I really dislike it, like with so many coin announces and orphaned blockchains after a month or so. I usually announce only stuff which has already been done, or when deliverables have been correctly scoped. Smiley Look at it from the other side. The Genesis block is from May 25th and the chain is constantly and actively developed. Even if I haven't posted much at BitcoinTalk, my account is almost 5 years old, so I read the forum carefully. And thanks for the feedback, very much appreciated.

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December 15, 2018, 05:12:15 PM
 #7

You wrote. "With the early release of Galilel Wallet v3.1.0, we delivered the world's first cryptocurrency, which has a proportional Zerocoin Proof-of-Stake (zPoS) reward, depending on the block reward!". Is it possible to develop this idea in more detail? What is the reward scheme?

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December 15, 2018, 06:48:18 PM
 #8

You wrote. "With the early release of Galilel Wallet v3.1.0, we delivered the world's first cryptocurrency, which has a proportional Zerocoin Proof-of-Stake (zPoS) reward, depending on the block reward!". Is it possible to develop this idea in more detail? What is the reward scheme?

Let me explain it in hopefully simple words:

1. If you fork recent PIVX and enable zPoS, the zPIV stake rewards are hard-coded in the source, so you always get 3 zPIV. The reason is because in PIVX there was no need to make it dynamic according to the block reward as they are already in ongoing 5 PIV reward phase which runs forever.
2. zPIV/zGALI are minted in so called denominations which represents a natural number of specific coin amount. In PIVX and GALI case it are: 1, 5, 10, 50, 100, 500, 1000 and 5000.
2. zPIV/zGALI has to be an integer value because smallest possible denomination is 1, so 1 zGALI. This means the whole reward scheme has to be carefully reviewed. To be honest I'll made some mistake here as well during activation, that's why we have currently the decimal 13.5 GALI reward phase.
3. We implemented zPoS in our phase 8 of rewards and we still have 2 phases coming with coin reduction to 10 GALI and 5 GALI. So, one option was to hard-code the zGALI rewards to 3 as well, but this doesn't give zGALI stakers a benefit until rewards are decreased to 5 GALI. That was the reason to make it dynamic. In our case it means the following:

PhaseRewardMNPoSzPoS
___________________________________________________________________
Phase 813.50If PoS: 9.45 / If zPoS: 12.50PoS: 4.05zPoS 1.00
Phase 910.00If PoS: 7.00 / If zPoS: 4.00PoS: 3.00zPoS 6.00
Phase 105.00If PoS: 3.50 / If zPoS: 2.00PoS: 1.50zPoS 3.00

4. In Galilel v3.1.0 this is really a preliminary feature because we still use zGALI denominator 1, so it means in Phase 9 we need to generate 6 * 1 zGALI which is very CPU intensive and probability to generate an orphan block is higher since a public coin staker can solve the block later but distribute it to the chain faster. This will be changed in upcoming optional wallet which will auto resolve best denomination structure. That is the reason why we currently are in slow startup zPoS phase with 1 zGALI. In our case it would be:

v3.1.0: 6 * 1 zGALI (6 mints, each requires CPU time)
v3.1.1: 1 * 1 zGALI + 1 * 5 zGALI (2 mints, lower probability to generate orphan block)

Actually the biggest benefit for blockchain developers is that #4 makes coin forks with zPoS much easier as auto resolve of best denomination structure will even work for coins which generate very high amounts per block.

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December 16, 2018, 03:45:03 AM
 #9

why every first time I turn on the wallet, my wallet always generates a new address

my problem was solved when I locking my wallet
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December 16, 2018, 04:06:45 AM
 #10

I would like to reverse myself for Vietnamese(ANN thread, wp, website)
Bitcointalk name: BannedHMD
Bitcointalk url: https://bitcointalk.org/index.php?action=profile;u=2427281
Tele: @haoanhhungxt2
Eth address: 0x2c9e21119751F4b2f2484810752CE57a138f7777
Portfolio: https://docs.google.com/document/d/1SXGn6-6rHzRcOGd5-O6ph5DZb8mp32zhPqxReMXerfU

Please PM me if i'm accepted.
Thank you.
Contact me: haminhdiem@gmail.com
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December 20, 2018, 11:50:52 PM
 #11

Now, we are listed on exchange Cratex.io with the following pairs:

https://cratex.io/index.php?pair=GALI/BTC
https://cratex.io/index.php?pair=GALI/LTC
https://cratex.io/index.php?pair=GALI/BTCZ

Also the following partners have listed Galilel:

https://coinranking.com/coin/galilel-gali
https://coinlore.com/coin/galilel

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December 20, 2018, 11:55:32 PM
 #12

great to see being list in exchange
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December 21, 2018, 02:10:49 AM
 #13

The GALI team should re-design GALI's signature codes with better graphic designs.
And, I propose the team to run promotions with new redesigned codes.
Please spend a couple of mins to think of it.

DarkPayCoin - [100% community governed and built]
[-] Website  [-] ANN Thread  [-] Discord  [-] Twitter  [-] Telegram
\ HIGH ROI, Low supply / - \ A privacy focused MN/PoS coin /
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December 21, 2018, 02:02:26 PM
 #14

The GALI team should re-design GALI's signature codes with better graphic designs.
And, I propose the team to run promotions with new redesigned codes.
Please spend a couple of mins to think of it.

I'm not the designer, only the dev and coin owner. Smiley So could you please explain it in more detail. If you want even as PM. I'm open for any suggestion.

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December 21, 2018, 03:28:31 PM
 #15

Interesting project that is running already for a while I notice. Happy to see that a bootstrap is available to catch up. Well done.
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December 22, 2018, 02:04:25 PM
 #16

It's nice to see a project with an active dev (here and in Discord). I hope the community will continue to grow. I will be following GALI for sure.

░▒▓█ / / /X42/ / / WELCOME TO FEELESS FUTURE! █▓▒░
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December 22, 2018, 11:24:30 PM
 #17

Great looking project, dev is VERY active, loads of updates but most of all communication is top notch.

Potential is there for big things.
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December 23, 2018, 09:42:40 AM
 #18

I already had several interesting discussions with the lead dev about his ideas and the future of the project in the Discord. He always answers every question and is highly active. So best to check out the Discord and ask what you want to ask. Also a lot of very helpful Community members there that always help out even technically not well-versed coin holders. The recent two hard-forks worked out well and even people like me who are not tech heads and did it for the first time had no problems with it due to the very high community engagement of the team and other community members.

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December 23, 2018, 11:39:38 AM
 #19

I already had several interesting discussions with the lead dev about his ideas and the future of the project in the Discord. He always answers every question and is highly active. So best to check out the Discord and ask what you want to ask. Also a lot of very helpful Community members there that always help out even technically not well-versed coin holders. The recent two hard-forks worked out well and even people like me who are not tech heads and did it for the first time had no problems with it due to the very high community engagement of the team and other community members.

Yes, community is quite active and engaged. I hope this is going to grow even more and lead to a nice long-term project. The backup tech-wise seems solid.
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December 23, 2018, 02:13:39 PM
 #20

Dutch local thread is now live, check it out here.
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