⚡|MAINNET|⚡ [VECT/VCTP] Vectorium Project ⚡

[sailor32]

I would like to know more details about the scam accusations and what'll be the defense, but it seems dev and the original accusers didn't want to get into this further. Too bad, I've made my popcorn.

Anyway, with the benefit of the doubt, why would green energy resource(s) need to be crypto-ed? It still works completely fine with conventional paper money, isn't it?

Yeah, so the function that I showed above will only allow blocks with coinbase transactions with destination addresses belonging to a predetermined set of 22 addresses. This means that all of the coins mined from now to eternity will belong to the owners of those 22 addresses and anybody mining will be at the mercy of the owners of the addresses. No private pools, no competing pools.

This project is running a rate limited pool, which bans miners with too high of a hashrate. These combined factors make it extremely easy for the project to mine a whole bunch of coins whenever they want by either lowing the rate limit on the miners of their pool, setting up their own private pool without the rate limit, shutting off the pool all together and adding some blocks, or just throwing a 50% fee onto the pool.

This code does prevents outside 51% attack, but I think there are better ways to do that. I think this code leaves too many loopholes for the project to be able to utilize if it's a scam.

[Vectorium]

I see the source code was added.

From Main.cpp line 899 to 907

   // A coinbase transaction vouts
   if (tx.IsCoinBase()) {
      BOOST_FOREACH(const CTxOut& out, tx.vout) {
         CTxDestination out_dest;
         if (nHeight >= Params().GetConsensus().GetFirstEnforcedMinerLicenseBlockHeight() && ExtractDestination(out.scriptPubKey,out_dest) && !Params().IsLicensedMiner(EncodeDestination(out_dest)))
            return state.DoS(100, error("CheckTransaction(): coinbase unlicensed miner"),
                      REJECT_INVALID, "bad-cb-miner");
      }   
   }


Looks like you are only allowing specific addresses to add blocks to the chain.

From chainparams.cpp lines 184 to 207

      vLicensedMiners = {
         "V1gUNHs9Ae2t6hCA7MkVqghe2GWsJvB8exM",
         "V1oUJSYnwUoeowB2CykMBMg9RKRt6uUPoj2",
         "V1brKJBb8Q3HxPk3by7o6aNFjTtDhMWtEmX",
         "V1iQ8LDi8QS7PJjpDWnyPyaCA93sC1NZL5f",
         "V1TgZrkism6Zj7RPh4NoZbbXEdEWLpa6SMp",
         "V1fSF2pbMdDCE6tgG1waCG7e71NWSpKcYiX",
         "V1e7vjV8esvkdvokVqdwR7Bui3bD9YLZFWT",
         "V1RVmTC7mCHFM9iGQ5yZKYEDMynhw3bDFJ2",
         "V1gsR99Sd2azGwM5wNarCEFF4SvESL7yxjf",
         "V1SXJJn6mhD6CE7W8jXdS4rxc3B9dMkYghK",
         "V1R7AFHw6U5btTrxkVkeq2ZMS5KN7HrNj5A",
         "V1j957XzHXDRdz9ainnnjrnRqfSf3XBGvL4",
         "V1b7wFTbsuQBhGgAF5f5Dt8paPazSsrFTg4",
         "V1fgNT2qyA9G8VnEHCtMV1SFsJhWVgAEgoc",
         "V1YxmmRWxTKBNSB6Pv235o16ffgWRk9ZqrY",
         "V1YuCVe2ufQHUu3NS67bcbixUY9TbfmpNaW",
         "V1Y5g3Pm2Wn7QTzytrzFxiydKwdLVV9GXip",
         "V1hNZdZVjyUcfXYfu71R2RBjmyN8kZoRE7r",
         "V1at7HqpMbffzkxCeGRZk4nrK9rsWtGdo4M",
         "V1h7Fc3XxgCYS8CW26oDf5idQiNgCQMcMqm",
         "V1bwTWLiwe23K1avvYQzGt7Ffxr1p4KeAih",
         "V1Zrkrrh3BDWqnuBfS8Y5tBAse7xM3F1wAS"
      };

Beware, this code gives the team behind this complete control over the chain. They can easy shut off their "authorized pool" and continue to add blocks without competition. They can put up a private non-rate limited pool and mine as much as they want. They don't need a premine cause they can mine as much as they want whenever they want

I'm out, I prefer my decentralized networks to be decentralized.

Hello sailor65, no need at all to put all red and bold
Vectorium Flash was tought as a private chain and so the main source code was never meant to be released to the public.
Following some comunity requests we have come up with a new locked codebase which introduces licensed miners. Actually we're talking about licensed pools. Only one is being used right now (first from the top).
Without this, probably the code would have never be released.

Because Flash is a cryptocoin tied to a real bond (VCTP), the control over mining was not maded just to prevent 51% attacks, but also to allow the chain to spread coins fairly between the miners.
Big mining farms have no advantages and little miners are incentivate by rising their probablity to hit solo blocks.

Please note that the VectoriumFlash mining system is a purely solo-system, which means that those adresses are coinbase exchange endpoints. When you hit a block on the solo pool, you get it straight on your wallet after 100 confirmations. This means that the solo pool holds 99 pending VECT at time.

Also, replying to your "it's possible for the to mine blocks without letting us know", you can see it all on the explorer, and on the pool, just if you take a look at the block count.

Just one personal tought. Throw away the dream of decentralization. Decentralization does not exist and can't even exist. We have found a way to distribuite coins as fairly as possible.

Have a nice day

[holydarkness]

I'm still waiting for your response on why do we have to go crypto for green energy while the conventional ones are still working enough.

Will it be for the sake of easier distribution? How? Or will it be for the sake of simple payment? Hmm... no, it can't be, I'm pretty sure the "old" system still works just fine

[Bisley]

Good day. How often do payments to online wallet occur?