[DEAD] Coiledcoin - yet another cryptocurrency, but with OP_EVAL!

[makomk]

Well, looks like this is pretty much dead courtesy of a >51% attack by Luke Jr. The more interesting features should in theory be available in Bitcoin eventually - including the removal of existing legacy Bitcoin addresses if Luke Jr gets his way (he was threatening to refuse to mine transactions using them). No idea when though and I certainly won't be developing the tools to make use of them.

Since there aren't quite enough shamefully Bitcoin-cloning cryptocurrencies out there yet, I'm launching another one - Coiledcoin. It has all the features you might expect from a modern Bitcoin clone, plus a handful more:

• Merged mining and OP_EVAL support from the start
• No legacy addresses. Anyone and anywhere that can pay to a Coiledcoin address can pay to one that requires signatures from multiple parties to spend, such as an escrow account or a business account requiring approval from two managers. It makes no difference to the sender - all addresses use OP_EVAL and look the same. (The infrastructure to spend these is fairly poor right now though.)
• Block every 2 minutes on average, difficulty adjustment of up to 100% up/50% down every 720 blocks (nominally 24 hours), ArtForz timestamp exploit fixed.
• 10 CLC reward per block initially, halving every 525000 blocks (nominally 2 years) until it reaches 1 CLC where it will remain forever. This is an inflationary coin, at least until you take coin loss into account.
• Minimal 1337 50 CLC premine in the genesis block
• Note that internally Coiledcoin addresses and transactions are formatted differently to normal Bitcoin clones. Do not use Bitcoin tools like vanitygen or PoolServerJ's workmaker support to create new addresses or transactions, and do not import keys with pywallet either. In theory you can safely use PoolServerJ for merged mining with Coiledcoin as an aux chain, just don't turn on workmaker for the Coiledcoin aux chain - it'll look like it works but the payouts will be unspendable.
• More neat stuff (instant payments, light clients, possibly wallet protection services that require confirmation of large spends, etc) coming soon once I or someone else gets around to writing it.
• Not sure what the initial difficulty will be yet, most likely 16

Download it from here
Windows release
Windows installer
Linux release
Source code

Not sure if there'll be a pool available at the time of launch yet though. If not, once the difficulty rises and the block rate drops off you can use merged mining to solo mine it at the same time as mining Bitcoins on p2pool. In addition to those instructions, you need to set rpcuser, rpcpassword and server in coiledcoin.conf, run the Coiledcoin client, and when starting p2pool add "--merged-url http://127.0.0.1:8367/ --merged-userpass user:password" to the end of the p2pool command line. (Also, I'd recommend setting your RPC password to something stronger than "password" for security reasons!) Again, do not pooled mine on Coiledcoin with p2pool - it should stop you but payouts would be unspendable.

Edit: Apparently I'm not as 1337 as I thought; forgot to change the premine back from the rather smaller 50 CLC.

[maxcarjuzaa]

Where is the client for linux? what miners can we use to mine your coin in linux?

Thank you

[Remember remember the 5th of November]

It's not linux we should be worrying about, it's windows.

OP, if you don't provide Windows binaries, there is no point in the alt chain.

[bulanula]

Exchange or it is useless.

When ?

[makomk]

Where is the client for linux? what miners can we use to mine your coin in linux?

Thank you

There'll be source and clients for Windows and Linux once the chain actually officially launches; got the build process for them setup already. Any standard Bitcoin miner will work. This is a slightly rushed launch so I unfortunately don't have a public client out for a test version of the chain. (Obviously there's my private one which could in theory be released but it's probably not a good idea.)

[bulanula]

Where is the client for linux? what miners can we use to mine your coin in linux?

Thank you

There'll be source and clients for Windows and Linux once the chain actually officially launches; got the build process for them setup already. Any standard Bitcoin miner will work. This is a slightly rushed launch so I unfortunately don't have a public client out for a test version of the chain. (Obviously there's my private one which could in theory be released but it's probably not a good idea.)

Fail ScamCoin altchain is fail.

We need the exchange to open ASAP. These will be worth 10 BTC each !

Buy, buy, buy !!!

[makomk]

Fail ScamCoin altchain is fail.

We need the exchange to open ASAP. These will be worth 10 BTC each !

Buy, buy, buy !!!

Well, we'll see what happens - partly depends if anyone manages to launch any interesting services with it.

[caston]

So what is OP_EVAL?

Do you plan to add support for Open Transactions?

It looks like i'll be a sleeping when this launches.

[makomk]

So what is OP_EVAL?

It's a way of letting you send to addresses that have more complicated restrictions on how the coins can then be spent - such as requiring signatures from multiple people or devices - without the sender having to worry about what the exact requirements are. It also makes it easier to, for example, set up an escrow arrangement where some coins can only be transferred either with the agreement of either the buyer and seller, or by the escrow agent and one of the two parties agreeing - so the escrow provider can't just run off with them. Sadly the tools to actually make this kind of escrow possible aren't quite ready yet.

There's a good technical description here. It was originally going into Bitcoin, but I think they've pretty much abandoned it in favour of something similar which may or may not get enough support. It's all a tad messy on their end right now.

Do you plan to add support for Open Transactions?

Not really. That'd probably best be done externally by someone with more experience with Open Transactions, if at all.

[doublec]

There's a good technical description here.

It's receiver pays for fees too isn't it? Or did I misread somewhere?

[kjlimo]

Exchange or it is useless.

When ?

FALSE, if anything no exchange will give it a chance of actually being adopted before the pump & dumpers happens.

[kjlimo]

I'll mine it if there's a pool available.

DoubleC, feel like adding another coin?  Or testing this coin in an alternative pool to start?  I would only point one GPU at it to start to help for testing.

[Stokkie]

Exchange or it is useless.

When ?

FALSE, if anything no exchange will give it a chance of actually being adopted before the pump & dumpers happens.

Well I would say trade from the start would prevent pump & dumping. If you wait for a while some are already sitting on tons of coins which makes your scenario possible. The more people mine/adopt this coin the better chance it has

[kjlimo]

Exchange or it is useless.

When ?

FALSE, if anything no exchange will give it a chance of actually being adopted before the pump & dumpers happens.

Well I would say trade from the start would prevent pump & dumping. If you wait for a while some are already sitting on tons of coins which makes your scenario possible. The more people mine/adopt this coin the better chance it has

I guess that's a fair statement.

My priority is pool first.... Exchanges second, so that I can pump & dump   haha

[makomk]

It's receiver pays for fees too isn't it? Or did I misread somewhere?

In a way. The sender's side of the transaction is the same size no matter how complex the rules are - the actual script is only included when the transaction is spent, so the receiver pays any extra fees that result from them choosing to have more complex restrictions on how it can be spent.

[makomk]

OK, so this is somewhat later than originally anticipated, partly because of a slight last minute change and mostly because the Windows build is really slow, but it's out:

Windows release
Windows installer
Linux release
Source code
 
The website is coming eventually.

[bulanula]

OK, so this is somewhat later than originally anticipated, partly because of a slight last minute change and mostly because the Windows build is really slow, but it's out:

Windows release
Windows installer
Linux release
Source code
 
The website is coming eventually.

Logo ?

[makomk]

Logo ?

There's a placeholder at www.coiledcoin.org but it really wants replacing.

[doublec]

You can register accounts with Coiled Coin addresses at mmpool and they'll start receiving coins once I've tested and enabled it.

[Stokkie]

Difficulty is up for the first time