[ANN][SIM] Simcoin - A Simple Coin

[NxtChg]

One thing that maybe you could do is to use memory tables to save transactions in memory and periodically  dump them in 1 second timeframe onto the disk.

Transactions are already queued in memory as C++ objects, so no need for memory tables.

Yes, my current approach is to accumulate them in a separate thread for some time, then group into a single DB transaction and write.

If checkpointing gets triggered it will not stall the system, because writing is now done in a separate thread and checkpointing doesn't block readers, at least not for any significant time.

https://simcoin.info/explorer/

Lookin' good!

Thanks

[Nxtblg]

Progress report

Wow...it sounds almost like you could write a textbook on DB programming.

(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).

Not complaining at all...in fact, I'm sitting here regretting that I'm fiat-broke and BTC-locked. If only I had a few thousand to spare, I'd be bothering you with another deposit to SimXchg.

[NxtChg]

2014/08/24 Monero Blockchain Spam Attack - Post Mortem

On 2014/08/24 a spam attack was launched against the Monero blockchain. Up to that point, Monero had a relatively low fixed fee per transaction of 0.005 XMR (under 1 US cent per transaction). This allowed the attacker to broadcast extremely large transactions every 5 seconds.

For the most part, the network worked as expected. The dynamic block size limit allowed the max block size to grow, and transactions were broadcast without incident. However, the (relatively) slow expansion in the median block size, among other things, lead to some transactions taking some time to confirm. This is not the usual turn of events - normally an increase in usage occurs over a couple of days in a best case scenario (Monero is featured on Dr Phil and Oprah, and every Monero user gets a whale once they check under their seat). At its worst, there were ~400 transactions in the memory pool that were waiting to be confirmed. The sudden, sharp, drastic increase means that the network needed to adjust, and in the interim some transactions took anything from a few extra minutes to an hour longer than usual.

Let me get this right, an unusually large transaction every 5 seconds brought Monero to a halt and required an urgent fork to hike up the fees.

See, what I am talking about?

Almost every coin out there now is a toy coin. The fact that they seem working is just a consequence of the fact that nobody bothered to seriously rattle them.

[klee]

2014/08/24 Monero Blockchain Spam Attack - Post Mortem

On 2014/08/24 a spam attack was launched against the Monero blockchain. Up to that point, Monero had a relatively low fixed fee per transaction of 0.005 XMR (under 1 US cent per transaction). This allowed the attacker to broadcast extremely large transactions every 5 seconds.

For the most part, the network worked as expected. The dynamic block size limit allowed the max block size to grow, and transactions were broadcast without incident. However, the (relatively) slow expansion in the median block size, among other things, lead to some transactions taking some time to confirm. This is not the usual turn of events - normally an increase in usage occurs over a couple of days in a best case scenario (Monero is featured on Dr Phil and Oprah, and every Monero user gets a whale once they check under their seat). At its worst, there were ~400 transactions in the memory pool that were waiting to be confirmed. The sudden, sharp, drastic increase means that the network needed to adjust, and in the interim some transactions took anything from a few extra minutes to an hour longer than usual.

Let me get this right, an unusually large transaction every 5 seconds brought Monero to a halt and required an urgent fork to hike up the fees.

See, what I am talking about?

Almost every coin out there now is a toy coin. The fact that they seem working is just a consequence of the fact that nobody bothered to seriously rattle them.

Few, but ripe.
-Carl Friedrich Gauss

[xiaosu]

At least NxtChg is still work and i trust this guy coz he is really have balls.

[klee]

Most coins promise so many features and breakthroughs and shills try to hype them.
I have invested in some of them too but when SIM will ROI like BTC and NXT I will be again the one who saw it again.

The rest can go follow stupid pump & dumpers at twitter and NXT AE..

[fotathan]

Most coins promise so many features and breakthroughs and shills try to hype them.
I have invested in some of them too but when SIM will ROI like BTC and NXT I will be again the one who saw it again.

The rest can go follow stupid pump & dumpers at twitter and NXT AE..

+1
I'm with you on that!

[wizzardTim]

Most coins promise so many features and breakthroughs and shills try to hype them.
I have invested in some of them too but when SIM will ROI like BTC and NXT I will be again the one who saw it again.

The rest can go follow stupid pump & dumpers at twitter and NXT AE..

Well said

[NxtChg]

Thanks for your support, guys

[NxtChg]

Code:

class Thread
{
 protected: HANDLE h;
 public:
virtual void run(){ }

bool start(){ h = (HANDLE)_beginthread(Run, 0, this); return (h > 0); }

static void __cdecl Run(void *obj){ ((Thread*)obj)->run(); }
};

Ain't this class a beauty?

[lemfuture]

i don't get it ^

[NxtChg]

https://nxtforum.org/general-discussion/public-key-for-fresh-accounts-this-is-a-wrong-decision/

why in the world wasn't that done from day one???

Indeed.

[kufan]

It seems that it will become a good coin.

[dance]

What speed of transactions it will have?

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

Ye, that's why I'm asking. How fast transactions will be in the September's core release?

Is it possible to have (and exceed) the TPS of Visa?

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.

Yes, but 100 bytes * 30,000 tps = 3MB/s. Which brings me to thoughts about decentralized currencies having decentralized hierarchy.

[NxtChg]

Is it possible to have (and exceed) the TPS of Visa?

No crypto will be able to match Visa any time soon.

Luckily, it will also probably not be needed in the nearest future.

Yes, but 100 bytes * 30,000 tps = 3MB/s. Which brings me to thoughts about decentralized currencies having decentralized hierarchy.

30,000 TPS is a ridiculous number.

And at 100 TPS it will be just 10 Kb/sec.

[dance]

Is it possible to have (and exceed) the TPS of Visa?

No crypto will be able to match Visa any time soon.
Luckily, it will also probably not be needed in the nearest future.

Yes, but 100 bytes * 30,000 tps = 3MB/s. Which brings me to thoughts about decentralized currencies having decentralized hierarchy.

30,000 TPS is a ridiculous number.

And at 100 TPS it will be just 10 Kb/sec.

25,000 TPS it is just what is written about Visa alone. There are other payment systems, plus I guess most of the people on the planet still using paper money.
I don't want to hear about crypto not trying to supersede majority of money transactions in the world.

[NxtChg]

I don't want to hear about crypto not trying to supersede majority of money transactions in the world.

I guess if you lived a century ago you would go to Wright brothers and tell them that you are very upset they do not build their planes to be able to fly to Mars...

[klee]

I don't want to hear about crypto not trying to supersede majority of money transactions in the world.

I guess if you lived a century ago you would go to Wright brothers and tell them that you are very upset they do not build their planes to be able to fly to Mars...

I HAVE A DREAM!!!!....

[NxtChg]

Distribution update



254 accounts own simcoins now vs 210 after the IPO.

The top 10 accounts own 21.26% vs 21.25% on July 20.

Progress report

Not much of a progress this week, had to take care of some real life stuff.

Nevertheless, did a major refactoring of the Heart (that's the main module that is responsible for transaction consensus). Simplified a lot, transactions are now not individual tasks anymore, but simple objects inside the Heart, this should also improve performance. Fixed a few bugs. Transaction Pipeline diagram updated to reflect all the changes.

So we are now on the homestretch before the first complete version of the core.

This is supposed to be a bare-minimum system, but with all the main functionality in place:
- encrypted network protocol
- time sync
- secure, encrypted vault
- account registration
- 'send' transaction
- fast and reliable consensus
- bootstrapping
- reorg
- arbitrary history truncation
- compact database
- client subscription/account info

I estimate that although some parts might take a bit longer, the core itself should be ready by the end of September (assuming no major interruptions, of course - things happen, you know).

Node's codebase is currently 12,500 lines of code, all the cryptographic code (blake, salsa, ed25519) takes about 3,000 lines. Also, some parts are still messy, with lots of "this should probably…"-style comments, so I expect it to shrink even further.

[marek3ball]

I didn't read your answer there. I like your confidence about SimCoin!