[ANN] AEON: Scalable, private, mobile-friendly cryptocurrency

[Elder III]

Announcing a 40k Aeon development & rebase bounty:  



https://www.reddit.com/r/Aeon/comments/7laim2/20000_aeon_rebase_bountydev_contract_possibly

We are glad that a New team of devs is born, in harmony with smooth. 

This is very cool news. I have zero programming skills but I wish the best to those involved.  Once the rebase is done and we have a reliable GUI wallet I can see a very positive future for AEON. 2017 has really been very good for AEON already even without a noob friendly wallet and having Bittrex closed for half the year (or close to it).

[stoffu]

For those who tried to sync aeond from scratch and couldn't go beyond the height 1000 with lots of "alternative chain, block height: 406" message, please try the following:

• Delete the Aeon blockchain folder
• Run aeond with --add-exclusive-node 34.205.171.63:11180 (one of the public nodes listed here https://aeon.wiki/Node )
• Wait for a bit until it shows CHECKPOINT PASSED FOR HEIGHT 1000 <bc6458452fd0575a314089bf302f6fd68ebaa2d689c42f3365293b96bbdf1f25>
• Stop aeond and run it again without --add-exclusive-node

https://github.com/aeonix/aeon/issues/117#issuecomment-353502728

There might be some issue that needs fixing.

It's actually more efficient (in terms of bandwidth usage and maybe time) to do the whole sync with --add-exclusive-node (can pick any working node, doesn't have to be the IP listed above) then remove it once the whole sync is done.

Thanks for commenting. I thought continuing to run with --add-exclusive-node might cause some high workload on that connected node.

Anyway, I hope this doesn't become too much of a barrier to entry for new users.

[smooth]

For those who tried to sync aeond from scratch and couldn't go beyond the height 1000 with lots of "alternative chain, block height: 406" message, please try the following:

• Delete the Aeon blockchain folder
• Run aeond with --add-exclusive-node 34.205.171.63:11180 (one of the public nodes listed here https://aeon.wiki/Node )
• Wait for a bit until it shows CHECKPOINT PASSED FOR HEIGHT 1000 <bc6458452fd0575a314089bf302f6fd68ebaa2d689c42f3365293b96bbdf1f25>
• Stop aeond and run it again without --add-exclusive-node

https://github.com/aeonix/aeon/issues/117#issuecomment-353502728

There might be some issue that needs fixing.

It's actually more efficient (in terms of bandwidth usage and maybe time) to do the whole sync with --add-exclusive-node (can pick any working node, doesn't have to be the IP listed above) then remove it once the whole sync is done.

Thanks for commenting. I thought continuing to run with --add-exclusive-node might cause some high workload on that connected node.

Anyway, I hope this doesn't become too much of a barrier to entry for new users.

You're right and if people are using a node IP published on a forum that is a bad idea. Otherwise it isn't so bad because it causes less workload for all the other nodes, and less workload for the network as a whole (because the syncing is somewhat inefficient and duplicates work across nodes). I usually suggest to start the sync normally and then pick one of the IPs from the print_cn list. That way people following the advice will probably be picking different nodes and not all swarming on one.

[bbc.reporter]

What is the update on the code rebase and who is commissioned to do it? I hope it is someone with the experience and the efficiency of the Monero development team. Smooth cannot risk giving it to unknowns.

There has to be guidelines and it should be under smooth's direction, very much like Linus Torvalds job in Linux.

[ArqTras]

Yet another mining pool, supportAEON.com

New pool: supportAEON.com

Fee: 0%
Wallet Min. Payout: 0.25

Previously known as AEONpool.pl; has switched its domain towards supportAEON.com, and back-end has been moved towards French.

Why change the domain?

A more universal domain name; rather then been associated as *only* a Polish pool, we decided to switch.

Why change the back-end?

To be more accessible from multiple regions within Europe, we noticed that the network delays where marginal compare network improvements for other regions.

Our goal is to launch more pools around Europe to provide the best connectivity to our platform and support the growth of AEON!

Mining Pool Address: pool.supportaeon.com:

* Low end, port: 3333
* Mid range, port: 5555
* High end, port: 7777

Questions? Message on reddit or send an email towards: support@supportAEON.com

[smooth]

What is the update on the code rebase and who is commissioned to do it? I hope it is someone with the experience and the efficiency of the Monero development team. Smooth cannot risk giving it to unknowns.

There has to be guidelines and it should be under smooth's direction, very much like Linus Torvalds job in Linux.

Indeed.

https://www.reddit.com/r/Aeon/comments/7lrsmx/guidelines_for_rebasing_efforts/

All submissions will be peer reviewed by the community and by me prior to any release (which is a long way off in any case, first step will be a working testnet).

[RoftheN]

Why is the blocktime so slow? Does this make it safer?

[bbc.reporter]

What is the update on the code rebase and who is commissioned to do it? I hope it is someone with the experience and the efficiency of the Monero development team. Smooth cannot risk giving it to unknowns.

There has to be guidelines and it should be under smooth's direction, very much like Linus Torvalds job in Linux.

Indeed.

https://www.reddit.com/r/Aeon/comments/7lrsmx/guidelines_for_rebasing_efforts/

All submissions will be peer reviewed by the community and by me prior to any release (which is a long way off in any case, first step will be a working testnet).

Long way off. Do you mean finishing the code rebase? When, do you reckon, will there be a final release, judging from this set of less experienced developers taking on the bounty?

Can you say that there is a candidate release by March or April, 2018?

[smooth]

What is the update on the code rebase and who is commissioned to do it? I hope it is someone with the experience and the efficiency of the Monero development team. Smooth cannot risk giving it to unknowns.

There has to be guidelines and it should be under smooth's direction, very much like Linus Torvalds job in Linux.

Indeed.

https://www.reddit.com/r/Aeon/comments/7lrsmx/guidelines_for_rebasing_efforts/

All submissions will be peer reviewed by the community and by me prior to any release (which is a long way off in any case, first step will be a working testnet).

Long way off. Do you mean finishing the code rebase? When, do you reckon, will there be a final release, judging from this set of less experienced developers taking on the bounty?

Can you say that there is a candidate release by March or April, 2018?

I meant a release for the live network. There will need to be a testnet and a scheduled hard fork. Long way off is relative, and I didn't mean years.. March or April is plausible, depending on results of this bounty initiative. We'll see.

Why is the blocktime so slow? Does this make it safer?

Slower block time has some advantages for network stability but also for keeping the blockchain smaller and syncs faster, especially when usage is low (but syncs can be faster in some cases regardless of transaction rate).

[bbc.reporter]

@smooth. Thank you for the clarification. I was beginning to worry that we will be back to the standard, automatic Aeon answer of soon everytime someone asks when the release of the rebase will be hehehe.

Also, when will you announce the new roadmap?

[smooth]

There have been a few questions about how the rebase will affect current coin holdings, whether there will be a 'coin swap' etc. The short answer is that coin holdings will be completely unaffected. The rebase is about introducing new software to support the same blockchain. Coins are unaffected and there will not need to be a swap. You will probably need to restore your wallet from seed or keys using the new wallet software.

On the question of tail reward there has been ongoing discussion of this over the years and it was recently brought up on the rebase thread. My call on this is to simply adopt the same tail reward as Monero (that is, 0.3 AEON/minute). As such the rebase work should just carry over Monero's existing tail reward code. I know there have been some suggestions to try to differentiate on this basis, possibly have an exponentially growing reward (fixed annual percentage instead of fixed amount), etc. I don't think they are a good idea. The economics of a fixed reward that likely converges to a sort of fixed-ish money supply (given some percentage of annual coin loss due to lost/erased keys, deaths, etc.) both "get the job done" in terms of the reasons a tail reward is needed and also strike a decent balance with concerns over a coin serving as a store of value not having infinite dilution of coin holdings due to inflation.

Summary:
1. Existing coin holdings will not be affected by rebase
2. Tail reward to be implemented in the new code base will mirror Monero at 0.3 AEON/minute.

[estenity]

There have been a few questions about how the rebase will affect current coin holdings, whether there will be a 'coin swap' etc. The short answer is that coin holdings will be completely unaffected. The rebase is about introducing new software to support the same blockchain. Coins are unaffected and there will not need to be a swap. You will probably need to restore your wallet from seed or keys using the new wallet software.

On the question of tail reward there has been ongoing discussion of this over the years and it was recently brought up on the rebase thread. My call on this is to simply adopt the same tail reward as Monero (that is, 0.3 AEON/minute). As such the rebase work should just carry over Monero's existing tail reward code. I know there have been some suggestions to try to differentiate on this basis, possibly have an exponentially growing reward (fixed annual percentage instead of fixed amount), etc. I don't think they are a good idea. The economics of a fixed reward that likely converges to a sort of fixed-ish money supply (given some percentage of annual coin loss due to lost/erased keys, deaths, etc.) both "get the job done" in terms of the reasons a tail reward is needed and also strike a decent balance with concerns over a coin serving as a store of value not having infinite dilution of coin holdings due to inflation.

Summary:
1. Existing coin holdings will not be affected by rebase
2. Tail reward to be implemented in the new code base will mirror Monero at 0.3 AEON/minute.

very important precisions, thank you.

[mohucool]

Guys what's upcoming news for Aeon, I hope it sees same growth as Monero in 2018 as Monero did this year or even better.

[makko91]

I noticed that hash rate increased so much in the last months... this means that with the same hardware I will mine less AEON, right ?

[overboost]

Right.
It's getting harder to mine.

[jbmustaq]

Here comes the reality where inequality comes.

some people would not agree with me but the fact is large hashrate miners get the cream and less hashrate miners bear the burnt of mining on high difficulty and the fact is No Dev gives a damn about it as I see old coins & new coins the emphasis on the features but they don't think about the small hashrate miners who keep mining and support a coin.

Just to let you know I am not criticising anybody here but it's my perception of how virtual coins work.

[stoffu]

I don't understand when people say a given coin is "easier" or "harder" to mine (assuming the PoW algorithm being the same). The more worth the coin, the higher the difficulty. The ratio between the capital in (electricity + equipment) and the capital out (mining reward) should stay roughly the same over a long enough time period.

Whether that mining reward will become worth more or less in the future, is just speculation.

Aeon is easier to mine with CPU compared to other coins thanks to the CryptoNight-Lite PoW algorithm, which is the main reason why I like this coin.

[Anthony1985]

How to store safely Aeon on a Mac? Is it possible to do it in a paper wallet? could I check the balance?

[bbc.reporter]

@Anthony1985. I reckon for anything Aeon related for the Mac, the best person to contact is sammy007. Keep in mind that I am only assuming that he is a Mac user because he made the bootstrap file for Mac OSX.

[overboost]

I don't understand when people say a given coin is "easier" or "harder" to mine (assuming the PoW algorithm being the same). The more worth the coin, the higher the difficulty. The ratio between the capital in (electricity + equipment) and the capital out (mining reward) should stay roughly the same over a long enough time period.
Whether that mining reward will become worth more or less in the future, is just speculation.
Aeon is easier to mine with CPU compared to other coins thanks to the CryptoNight-Lite PoW algorithm, which is the main reason why I like this coin.

Both sides are right.
It is getting harder to mine (one gets fewer coins as difficulty is getting higher in time). Cannot combat this argument, but...
At the same time as you stated capital in vs out should be balanced, therefore it is not "harder".
It's like looking at a 9 or at a 6, depends on which side you are.
We are all speculators here.