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Author Topic: [ANN][SIM] Simcoin - A Simple Coin  (Read 157669 times)
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NxtChg (OP)
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August 06, 2014, 07:55:59 PM
 #1141

@Nxtchg - In your opinion, will Simcoin compete mainly with Bitcoin or Stellar/Ripple in the future (which market is more suitable for Simcoin)?

The main idea of Ripple/Stellar is currency bazaar, so I'd say Simcoin is closer to Bitcoin, because it doesn't attempt to deal with multiple currencies.



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Simcoin: https://simtalk.org:444/ | The Simplest Bitcoin Wallet: https://tsbw.io/ | Coinmix: https://coinmix.to | Tippr stats: https://tsbw.io/tippr/
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NxtChg (OP)
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August 10, 2014, 10:28:49 AM
 #1142

Progress report


(guess, no ice cream for me...)

Another slow week, although things are starting to pick up:

- Continued developing improved consensus scheme.
- Network packet rounding replaced by optional junk at the end to decrease node traffic and allow better protection for clients.
- Bug fixed: one field from packet header was not encrypted.
- Account registration request is now a transaction.
- Switching to the new consensus scheme allowed to refactor transaction handling code. This, coupled with changing new account registration request to be a transaction, helped unify the code and it now uses a single transaction handling task instead of individual tasks for each transaction type.
- Trying to unify network requests for transactions as much as possible.
- Bug fixed: truncating second layer of encryption part on new account requests now requires a different way to detect it.
- Finalizing design of bootstrapping/account info requests.
- Updating wiki documentation.
- Accounts class to cache ledger accounts in memory. Simple memory pool for more efficient allocation/freeing.
- Client: adding vault accounts into the memory cache on each JS API load_vault() call.
- int5/int6 classes to handle 5- and 6-byte integer fields transparently.
- Thinking about account control.

No new version, because it looks exactly the same, just works a bit faster due to improved consensus. So no reason to waste time updating the nodes.

Nights are getting colder, woo-hoo!

Simcoin: https://simtalk.org:444/ | The Simplest Bitcoin Wallet: https://tsbw.io/ | Coinmix: https://coinmix.to | Tippr stats: https://tsbw.io/tippr/
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About smaragda and his lies: https://medium.com/@nxtchg/about-smaragda-and-his-lies-c376e4694de9
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August 11, 2014, 03:07:52 AM
 #1143

Thanks for the update.
Will we see sth big at Sep?

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August 11, 2014, 04:43:34 PM
 #1144

Will we see sth big at Sep?

Here's a broad roadmap for Simcoin:

I would like to finish the design and implementation of the core in August/September. Not sure if that's enough time, but that's what I'm aiming for.

When it's done you won't see anything big, because all the changes will be under the hood and the test client will look pretty much the same. But I might release some technical details of implementation for discussion and review, so you can peek under the hood if you understand crypto tech. Also parts of the source code will probably be released for developers and people hunting for security bounties.

To finish the core I need to:
- finalize the improved consensus and related code refactoring
- finish bootstrapping (it's mostly designed, just need to code it), so nodes could go offline and then catch up
- finish client protocol (this can take some time, depending on client's feature list. Also might need to implement these features in the test client to be able to test them)
- implement efficient subscription for clients that can handle millions of accounts

Depending on how much time is left, I would also like to implement in nodes:
- the reward tool
- voting system (it's an essential feature in decentralized systems, because they need a way to self-govern)
- flexible account control (for improved security and multisig)

Then we will need a stress test tool to make sure the system can scale and work reliably under a very heavy load.

This is where the test net will be launched and I can start hiring people to work on the real client and all the other tools and projects. At that point things should start moving much faster and hopefully you will see something "big" around Christmas. Meanwhile I will continue improving the core and adding more features and tests to it.

The official release will probably be somewhere in the spring.

So this is a rough plan, assuming nothing unexpected happens Smiley




Simcoin: https://simtalk.org:444/ | The Simplest Bitcoin Wallet: https://tsbw.io/ | Coinmix: https://coinmix.to | Tippr stats: https://tsbw.io/tippr/
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About smaragda and his lies: https://medium.com/@nxtchg/about-smaragda-and-his-lies-c376e4694de9
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August 12, 2014, 06:23:02 PM
 #1145

I would like to finish the design and implementation of the core in August/September. Not sure if that's enough time, but that's what I'm aiming for.

When it's done you won't see anything big, because all the changes will be under the hood and the test client will look pretty much the same. But I might release some technical details of implementation for discussion and review, so you can peek under the hood if you understand crypto tech.
What speed of transactions it will have?
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August 13, 2014, 01:44:40 AM
 #1146

Sometimes, I daydream:

I think:
On the one side, there is Simcoin, a wonderful, dedicated, serious software developer, doing his thing alone. Methodical.
On the other side, there is Ora: a wonderful community of people, with no software. Developing a project plan. Methodical.
Could they get together?

That would be amazingly powerful...

And then I wake up.
Pentamon

http://www.oraforum.org  *  Yoda: "One stake to every human give!"
NxtChg (OP)
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August 13, 2014, 09:35:38 AM
 #1147

Look in how many troubles a simple blunder of allowing any account put NXT: https://nxtforum.org/nrs-releases/nrs-v1-2-4/40/

That's why you need to think, think, think and don't be like "I'll just be lazy and make some crap fast and then we'll figure it out".

What speed of transactions it will have?

My design goal is "at least 100 transactions per second with confirmation time under 1 second".

By the way, transaction size:
* Bitcoin: 250 bytes (although it can easily reach 5-10 Kb, depending on the number of inputs and outputs)
* NXT: 160 bytes
* SIM: 96 bytes

Not bad.

Simcoin: https://simtalk.org:444/ | The Simplest Bitcoin Wallet: https://tsbw.io/ | Coinmix: https://coinmix.to | Tippr stats: https://tsbw.io/tippr/
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About smaragda and his lies: https://medium.com/@nxtchg/about-smaragda-and-his-lies-c376e4694de9
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August 13, 2014, 04:47:41 PM
 #1148

@Pentamon

Sim-Ipo is over, Ora "IPO" is over. Let me here your schedule to bring them in one boat. But a lovely dream indeed Wink

INVALID BBCODE: close of unopened tag in table (1)
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August 14, 2014, 12:49:54 PM
 #1149

@Pentamon

Sim-Ipo is over, Ora "IPO" is over. Let me here your schedule to bring them in one boat. But a lovely dream indeed Wink

Yes, I know. I am happy to say I am in Sim for long term. And in Ora. 
Interesting how we get split up in these different projects.
"Come together, now!"

Pentamon

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NxtChg (OP)
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August 14, 2014, 08:57:20 PM
Last edit: August 14, 2014, 09:23:12 PM by NxtChg
 #1150

Spent most of the time today trying to get rid of signatures, at least in some places, because out of 96 bytes in SIM transactions 64 is the signature.

This is very tempting. Removing signatures would allow to cut bootstrapping/history traffic by 2/3 and make database about 50% smaller!

Also verifying signatures is very expensive and puts an upper limit on TPS and bootstrapping speed.

Unfortunately, not much progress, though I managed to come up with some interesting ideas...

That's one example of why this project is a bit slow - research is a big part of it, i.e. trying to solve problems and thinking how to do something better.

This takes time and often leads to multiple dead ends, and there is no guarantee that you'll ever find a solution Undecided

Simcoin: https://simtalk.org:444/ | The Simplest Bitcoin Wallet: https://tsbw.io/ | Coinmix: https://coinmix.to | Tippr stats: https://tsbw.io/tippr/
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About smaragda and his lies: https://medium.com/@nxtchg/about-smaragda-and-his-lies-c376e4694de9
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August 14, 2014, 10:11:56 PM
 #1151

Go ahead NxtChg, these things take their time.

I think this is the first coin, that is fast enough to be used in point of sale situations.

So the future might be really bright  Grin

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August 16, 2014, 09:11:09 AM
Last edit: August 16, 2014, 09:26:30 AM by NxtChg
 #1152

One reason to implement flexible account control is that it will allow things like micropayments.

This makes it possible to execute tiny transactions off-chain.

So this is how it would work: you time-lock an account, allow only 1 outgoing transaction and then require 2 signatures to send this transaction.

The buyer sends account's passphrase to the seller.

He then keeps re-signing his part, increasing the value (same as in bitcoin), and then before the lock expires, the seller can redeem the money.

After that the buyer gains full control of his account (only 1 signature is now required), so he can take all the unspent money back.

Simcoin: https://simtalk.org:444/ | The Simplest Bitcoin Wallet: https://tsbw.io/ | Coinmix: https://coinmix.to | Tippr stats: https://tsbw.io/tippr/
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About smaragda and his lies: https://medium.com/@nxtchg/about-smaragda-and-his-lies-c376e4694de9
NxtChg (OP)
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August 17, 2014, 11:46:36 AM
Last edit: August 17, 2014, 11:59:00 AM by NxtChg
 #1153

Progress report



Improved consensus is finished and seems working, I also had a couple more ideas how to improve it further and implemented them.

--

Most of the time was spent on finalizing bootstrapping design and coding it. It's about 70% complete.

--

Spent a day trying to get rid of signatures. Guy Fawkes scheme was a big inspiration, unfortunately it means more than doubling confirmation time, so it's not an option.

It's certainly possible to at least not store signatures in the database and not verify them on bootstrapping, but I feel that relaxing security is too much of a risk at this point.

Distributed consensus is hard enough as it is, it's impossible to foresee all kinds of attacks, so for now the signatures stay. Storage is cheap, plus transaction history can be easily truncated at any point.

--

Spent some time solving a problem with one of the exchange deposit transactions.

--

Spent a day following the NXT's 50 M debacle, but it was well worth it.


(I had some NXT on Bter, so my smile was a bit fainter)

There are a few people in NXT community whose opinions I enjoy reading and I learned a lot from this incident.

At first, I was thinking that maybe Simcoin should have a built-in rollback capability, activated by the voting system, but now it seems that policing the blockchain is a bad idea.

Mature industry, account control, insurance and decentralized exchanges/services is the way to go.

--

Was thinking about micropayments (see the previous post). Seems like it will be possible with my account control.

It's actually a very nice feature to have, because such transactions are even faster, have no fee and don't bloat the database at all!

--

Started working on Sim Explorer ("blockchain explorer" in other coins).

I considered posting a bounty, but then realized that, since PHP scripts will just read SQLite database and that Simcoin doesn't have a blockchain and in general is very simple, I could write it in a day or two myself – much faster than finding somebody and then explaining to him how Simcoin works.

So hopefully you will see it in the next few days.


And somebody, please, tilt the Earth already!

Simcoin: https://simtalk.org:444/ | The Simplest Bitcoin Wallet: https://tsbw.io/ | Coinmix: https://coinmix.to | Tippr stats: https://tsbw.io/tippr/
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About smaragda and his lies: https://medium.com/@nxtchg/about-smaragda-and-his-lies-c376e4694de9
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August 17, 2014, 12:11:26 PM
 #1154

Love the updates. I enjoy reading your updates and Skycoin's updates, usually on a week to week basis.

I also spend the last two days completely occupied by the nxt debacle and was ready to go into damage control but the crisis is for the most part avoided.

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August 18, 2014, 01:41:32 AM
 #1155

Complete this great coin, be rich!

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NxtChg (OP)
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August 19, 2014, 11:11:43 AM
 #1156

As estimated, it took me less than 2 days to build a basic version of Sim Explorer:

https://simcoin.info/explorer/

This is all I need for development right now. It will grow along with the rest of the system.

Simcoin: https://simtalk.org:444/ | The Simplest Bitcoin Wallet: https://tsbw.io/ | Coinmix: https://coinmix.to | Tippr stats: https://tsbw.io/tippr/
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August 19, 2014, 12:03:26 PM
 #1157

As estimated, it took me less than 2 days to build a basic version of Sim Explorer:

https://simcoin.info/explorer/

This is all I need for development right now. It will grow along with the rest of the system.

Nice  Smiley
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August 20, 2014, 02:40:48 PM
 #1158

Progress is good news Smiley
NxtChg (OP)
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August 24, 2014, 09:51:55 AM
 #1159

Progress report



Tentacles are not always helpful... this is why it's taking so long...

--

Two days spent developing Sim Explorer, including PHP code to parse transaction blobs from the database. The fact that PHP doesn't have 64-bit integers makes things a bit more complicated.

Also converted my NxtAddress PHP classes into Simcoin format and tested.

Did some tests to make sure transaction ID doesn't cause significant collisions.

--

Working on finalizing the design and coding transaction pipeline and client protocol. Drew a detailed diagram of node's transaction pipeline.

--

The rest of the week was spent battling with SQLite performance: turns out that after I've replaced my old HDD with WD's Red, the transaction speed dropped to just 4 per second!

This makes my blood boil. Can you believe that a modern HDD can safely write only 4 things per second?! What the...

I guess, this is mostly because of WD's "intelliPower" marketing BS, which in reality probably means "5400 RPM or slower". Barracuda with 7200 RPM is about 4 times faster and SSD is about 7 times. Still, ridiculously slow.

OK, to be honest, these numbers are not yet catastrophic, they don't mean 4 TPS, because inside one database transaction I can write thousands of Simcoin transactions.

But when this transaction finally gets committed, the system will freeze for the same 500 M ticks (250 ms) and during that time I cannot do anything with the database, can't even read it, so the whole system is stalled.

If you are aiming for <1 sec confirmations, this is unacceptable. I can't just put everything on hold for 250 ms. Even 50 M ticks is too much.

The only solution seems to be switching SQLite to WAL mode and doing all writes in a separate thread. So I recompiled SQLite again, now with multi-threading turned on. I hate to do it, but using threads seems like the lesser of two evils.

Now the code needs to be reorganized to separate writes from reads and probably also to add queues to handle writing stalls.

It's annoying when libraries don't work out of the box and require a lot of reading and testing to figure out how to make them work the way you need. That's why I am a big fan of the NIH syndrome.

Anyway, I did a hell of a lot of tests with various combinations of settings, locking modes, journaling modes, multi-threading modes, checkpointing modes, page sizes, auto-checkpointing intervals, same/different database connections, tried manual checkpoints in a separate thread, all this while measuring average/peak performance of concurrent writes and reads on both WD and SSD drives. (So stop complaining that this project is taking too long – go invest in toy coins that don't pay attention to this kind of stuff).

The end result is documented in my local wiki and I am now confident that after the changes the system will be able to handle at least 100 TPS even on consumer-grade hardware or VPS.

--

I also discovered that SQLite doesn't free shared locks unless you explicitly call finalize() or reset() and this makes working with prepared statements a bit of a hassle. Had to write additional code to manage automatic destruction of these statements too...

Databases are hard!

Simcoin: https://simtalk.org:444/ | The Simplest Bitcoin Wallet: https://tsbw.io/ | Coinmix: https://coinmix.to | Tippr stats: https://tsbw.io/tippr/
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About smaragda and his lies: https://medium.com/@nxtchg/about-smaragda-and-his-lies-c376e4694de9
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August 24, 2014, 11:10:36 AM
 #1160

thank you, always nice to read the weekly progress report...

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