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

[Hiyatus]

Please don't kill all the good projects...  

CPU algo is one of the biggest upsides (as far as i see it) of this project.
Going asic friendly will - IMHO - kill the potential for a truly decentralized network.
Asics have no other purpose than to support a coin (any coin which pays the most) and are - again IMHO - just a figment of current economists (it's just a speculation tool - again IMHO).

On the other hand, everybody has CPUs and we use them for many different purposes, and we can support the network while we don't need the CPU time for other things.

There are coins out there which have mining implemented in a way which prevents the use of pools and thus establishes a perfectly (with the exception of GPU farms) distributed network.


My suggestions would be to:

1 - make it impossible to use mining pools or greatly incentivise solo mining

and/or

2 - encourage use of transparent and sustainable botnets


ATM i have no idea how to really do either (i just fell into the thread after a month), however i'm sure we can do it if we put our heads together.

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[bbc.reporter]

@Hiyatus. I may risk sounding like a greedy person but ASIC manufacturers and professional miners are driven by profit. If a manufacturer like Bitmain enters Aeon mining then it would be in their interest that Aeon becomes one of the top 10 cryptocoins in the world.

If we don't embrace ASICs, another Cryptonote project will.

 

[Hiyatus]

@bbc.reporter yes this is #crypto vs $crypto debate unfortunately.
I'm in favor of CPUs over a quick pump.

I'm not saying my suggestions are the best i just suggested an alternative solution. And it's just my personal views and preferences, nothing more.

[DonYo]

In my opinion, if a coin wants to grow in value needs an economy around it, maybe asic industry isn't a bad idea but before must be planed how can decentralization of mining power can be forced if it's possible

[Angel Di]

In my opinion, if a coin wants to grow in value needs an economy around it, maybe asic industry isn't a bad idea but before must be planed how can decentralization of mining power can be forced if it's possible

Perhaps you call one of the main factors in order that the coin showed growth. But already coins grow not as earlier on news it is simple. Can already influence the price in the much bigger and different ways. It is possible to carry to their number also FUN, advertizing and a lot of things still another.

[Blucoba]

about the only thing that made sense to me was the argument that altering the algo could potentially introduce exploitable vulnerabilities .   Inadvertently or otherwise.

[bbc.reporter]

@bbc.reporter yes this is #crypto vs $crypto debate unfortunately.
I'm in favor of CPUs over a quick pump.

I'm not saying my suggestions are the best i just suggested an alternative solution. And it's just my personal views and preferences, nothing more.

But it is not a quick pump. If you think about it more closely, an ASIC manufacturing industry behind a coin might be beneficial to its value and survivability for the long term.

ASIC manufacturing companies like Bitmain will only enter a market if they profit big. Once they do they will do everything they can to maintain that state of profitability.

But yes, I am aware of the centralization side effects. I reckon that might be a necessary gambit if we want to Aeon to develop further and become a top 20 cryptocoin.

[Perog2]

My suggestions would be to:
1 - make it impossible to use mining pools or greatly incentivise solo mining

I think this could easily be done - to change the algorithm of AEON to softcryton like the SLD. Only cpu-solo works perfectly and the same light cryptonote as the aeon algorithm (CryptoNight-Lite) ... maybe even lighter.

[bbc.reporter]

@smooth. I am sure that you have already read this whitepaper on Monero's traceability.

https://arxiv.org/pdf/1704.04299/

I went to the Monero subreddit and what I saw was some Monerotards calling FUD quickly without properly thinking about how this seriously affects Cryptonote coins.

Can you give us your thoughts on the situation and how that affects Aeon? Would a simple sub addresses feature help?

[estenity]

@smooth. I am sure that you have already read this whitepaper on Monero's traceability.

https://arxiv.org/pdf/1704.04299/

I went to the Monero subreddit and what I saw was some Monerotards calling FUD quickly without properly thinking about how this seriously affects Cryptonote coins.

Can you give us your thoughts on the situation and how that affects Aeon? Would a simple sub addresses feature help?

@bbc.reporter,shifting to reddit and whatsapp is a general present phenomenon, evidenced by audience studies, as well as facebook decay.

so i agree (with you,I think), that it is important to keep bitcointalk alive.

[smooth]

@smooth. I am sure that you have already read this whitepaper on Monero's traceability.

https://arxiv.org/pdf/1704.04299/

I went to the Monero subreddit and what I saw was some Monerotards calling FUD quickly without properly thinking about how this seriously affects Cryptonote coins.

Can you give us your thoughts on the situation and how that affects Aeon? Would a simple sub addresses feature help?

A subaddress feature does not directly address any of the issues in the paper however it is still useful for some privacy enhancing use cases outside the scope of the paper.

The paper itself is a slightly-modified rerelease of the same one that was released last year. Both were and are heavily backed and promoted by Zcash supporters and can't in any way be considered as objective third party analysis. While some of the findings are legitimate, a lot of framing and promotion of the paper is actually very misleading (whether you want to call that "FUD" is a personal choice but I don't find it to be a terribly inaccurate label).

For example, there are many tweets etc. repeating the talking point that X% (some high number, various different numbers have appeared) of Monero transactions were found to be traceable, rarely is it explained in these attention grabbers that even the paper itself explains (if you read the whole thing) that:

1. Older versions of Monero, 2016 or earlier have some high number of traceable outputs.
2. More recent versions have essentially 0% traceable outputs.
3. Newer data from 2017 and 2018 is excluded from consideration by the paper at all, skewing the total percentages a lot higher.
4. That the paper horribly conflates percentages of actual traceability and percentages derived from heuristic guesses that skew probabilities somewhat (and even that is mitigated in recent versions) but aren't able to trace any transactions at all.

AEON is similar to Monero post-2016 but pre-RingCT (and before other mitigations, some of which will arrive with the rebase), so somewhere in between. There is some degree of traceability but nowhere near as bad as the earlier Monero versions with unlimited (and large majority in practice) 0-mixin transactions.

Users can best protect themselves by performing some degree of churn (resend to self, preferably with unpredictable delays) in high risk situations. This is especially effective in AEON since the transaction fees are much lower than Monero (post-RingCT), making churn relatively inexpensive.

[bbc.reporter]

Thank you for the indepth reply. Ok, it was nothing but FUD after all. Maybe I was too quick to judge the Monerotard hehehe. But these days, calling FUD without any explanation why has already become so annoying. It shows that some people treat a cryptocoin like their religion. That should stop, it is not healthy hehe.

In any case, I am happy that all issues are fixed. Thank you.

[stoffu]

PSA: Rebase close to completion, testers welcome
https://www.reddit.com/r/Aeon/comments/88q6wi/psa_rebase_close_to_completion_testers_welcome/

Pre-release (CLI+GUI for Linux/Mac/Windows): https://github.com/stoffu/monero-core/releases/tag/v0.1.7
Source code

• CLI: https://github.com/stoffu/monero/tree/aeon-rebase-new
• GUI: https://github.com/stoffu/monero-core/tree/aeon

Block explorer (https://github.com/stoffu/onion-monero-blockchain-explorer/tree/aeon)

• Mainnet: http://162.210.173.150/
• Testnet: http://162.210.173.151/
• Stagenet: http://162.210.173.151:8083/

Mining pool (https://github.com/stoffu/cryptonote-xmr-pool/tree/aeon)

• Testnet: http://162.210.173.150:8082/

Miners compatible with the new POW

• XMRig: https://github.com/xmrig/xmrig
• XMRig NVIDIA: https://github.com/xmrig/xmrig-nvidia
• XMRig AMD: https://github.com/xmrig/xmrig-amd
• XMRigCC: https://github.com/Bendr0id/xmrigCC
• XMR-Stak: https://github.com/fireice-uk/xmr-stak/tree/dev

Please remember not to point too much hash power to the testnet, so that others can still easily mine blocks.

[befine77]

Wow, this is a very big project

[estenity]

Hey team.I may be interested in seeing the progress of the project and looking this ICO success. Project indeed cool, let's see how the team in the project can make this ICO run smoothly.

there is not any ICO there, but an important code rebase, showing a big progress.

[bbc.reporter]

@smooth. How much is the projected reduction in hashpower once we do our own hard fork to kill ASICs mining? Monero lost 2/3.

Also, remember last year's surprising sudden increase in Aeon's hash power? It was not botnets, it was Bitmain testing their miners! Why didn't we foresee it?? hehe

[SparkIt]

@smooth. How much is the projected reduction in hashpower once we do our own hard fork to kill ASICs mining? Monero lost 2/3.

Also, remember last year's surprising sudden increase in Aeon's hash power? It was not botnets, it was Bitmain testing their miners! Why didn't we foresee it?? hehe

How expediences is this decision? A high hashpower raises a cost price and, accordingly, a coins value.

[pa]

@smooth. How much is the projected reduction in hashpower once we do our own hard fork to kill ASICs mining? Monero lost 2/3.

Also, remember last year's surprising sudden increase in Aeon's hash power? It was not botnets, it was Bitmain testing their miners! Why didn't we foresee it?? hehe

How expediences is this decision? A high hashpower raises a cost price and, accordingly, a coins value.

More likely it is higher price that leads to higher hashpower

[wudafuxup]

@smooth. How much is the projected reduction in hashpower once we do our own hard fork to kill ASICs mining? Monero lost 2/3.

Also, remember last year's surprising sudden increase in Aeon's hash power? It was not botnets, it was Bitmain testing their miners! Why didn't we foresee it?? hehe

Monero lost more than that. They dropped almost and entire Gigahash from the network. A fricken gigahash!

[SparkIt]

@smooth. How much is the projected reduction in hashpower once we do our own hard fork to kill ASICs mining? Monero lost 2/3.

Also, remember last year's surprising sudden increase in Aeon's hash power? It was not botnets, it was Bitmain testing their miners! Why didn't we foresee it?? hehe

How expediences is this decision? A high hashpower raises a cost price and, accordingly, a coins value.

More likely it is higher price that leads to higher hashpower

Agreed, but this is a closed circle: high price attracts miners => complexity increases => production costs are increasing => reduced supply at current price => a market price rises.

This rule works for any POW-mining coins.