Nexus - Pure SHA3 + CPU/GPU + nPoS + 15 Active Innovations + More to Come

[BitcoinSanDiego]

Videlicet,

Can you explain why some blocks contain larger mining rewards and some contain smaller mining rewards?

Usually they vary from ~46 to ~63

You can see the corresponding block numbers in the search bar

https://i.imgur.com/M7itqkv.png

https://i.imgur.com/puFkGEd.png

Fractional rewards, determined by the reserve amount which is what regulates the minting to a precise mathematical design. When the reserves are above 20 minutes supply, reward is worth 3 minute decayed amount. When reserves are above 4 minutes supply they are worth 2.5 minute decayed amount. When below 2.5 minute supply, reward is based on time it took to create the block which can range from 0.3 - 46 CSD.

Reserves have a decayed amount deposited every minute in which miners use to create new mint ensuring that the distribution is mapped to precise exponential decay curves:

http://coinshield.io/images/supply-graph.jpg

This ensures precisely released mint, no hidden inflation, and a transparent currency.

Current Supply rates viewable on coinshield.io platform:
Minute            48.08741 CSD
Hour                 2,885.164 CSD
Day                 69,198.73 CSD
Week             482,416.7 CSD   
Month            1,902,394 CSD   
Year               19,943,773 CSD

Each mining channel runs on their own reserve system which means they each get exactly 50% of the initial distribution spanning over 10 years. This is how we were able to have a fair launch for the GPU channel 1 month after the CPU channel launch.


Thank You,
Viz.

I had a feeling this was a function of the decay function related to time... and thanks for confirming that the rates on coinshield.io are in fact an average of sorts (even though it is the precise amount of supply overall ).  This would explain why my adding up the outputs didn't equal the supply on the website

[cestballot]

Is it possible to get the CoinShield folder zipped and available for download, so a newcomer doesn't need to download from peers?  I got stuck on a block and had to delete my databases (probably corrupted when my computer crashed) but it takes 2 days to download again

https://bitcointalk.org/index.php?topic=657601.msg10828327#msg10828327

 

Best regards

Cest Ballot

I up vote this as a feature for the next wallet ! (dl+extract on first install). perhaps share it p2p. Downloading a full BlockChain takes ages.
Who's with me ?

yes and no

I don't like sync with direct download like my fast sync option. We can't trust this. files can be corrupted.

But Viz works on fast sync solution with trust node systems.

Trust node validate the other one, like this we increase security compared to DDL.

I'm right ?

Best regards

Cest Ballot

[BitcoinSanDiego]

cest ballot, this did not work for me.  would anyone be willing to Zip their entire CoinShield folder minus the wallet.dat file?  i'm curious if that would work

https://bitcointalk.org/index.php?topic=657601.msg11016255#msg11016255

[BitcoinSanDiego]

Already on it  
Fast sync takes about 5 - 6 hours from genesis

Thank You,
Viz.

Will this be in 1.0.3?

[Videlicet]

Videlicet,

Can you explain why some blocks contain larger mining rewards and some contain smaller mining rewards?

Usually they vary from ~46 to ~63

You can see the corresponding block numbers in the search bar

https://i.imgur.com/M7itqkv.png

https://i.imgur.com/puFkGEd.png

Fractional rewards, determined by the reserve amount which is what regulates the minting to a precise mathematical design. When the reserves are above 20 minutes supply, reward is worth 3 minute decayed amount. When reserves are above 4 minutes supply they are worth 2.5 minute decayed amount. When below 2.5 minute supply, reward is based on time it took to create the block which can range from 0.3 - 46 CSD.

Reserves have a decayed amount deposited every minute in which miners use to create new mint ensuring that the distribution is mapped to precise exponential decay curves:

http://coinshield.io/images/supply-graph.jpg

This ensures precisely released mint, no hidden inflation, and a transparent currency.

Current Supply rates viewable on coinshield.io platform:
Minute            48.08741 CSD
Hour                 2,885.164 CSD
Day                 69,198.73 CSD
Week             482,416.7 CSD   
Month            1,902,394 CSD   
Year               19,943,773 CSD

Each mining channel runs on their own reserve system which means they each get exactly 50% of the initial distribution spanning over 10 years. This is how we were able to have a fair launch for the GPU channel 1 month after the CPU channel launch.


Thank You,
Viz.

I had a feeling this was a function of the decay function related to time... and thanks for confirming that the rates on coinshield.io are in fact an average of sorts (even though it is the precise amount of supply overall ).  This would explain why my adding up the outputs didn't equal the supply on the website

Those rates aren't estimations or averages, but exact projections into the future. These rates are determined by the decay equations, and compounding the amount that will be deposited in the reserves every time interval from this moment forward, so in 1 year from now, the supply will increase 19,943,773 CSD. These numbers are pulled from an extra RPC command that compounds the decay equations to give us a precise number. The inflation % shows how accurate the actual minting is compared to the compounded decay equations, you can see it never inflates  

Will this be in 1.0.3?

I'll work up a 1.0.2 binary with fast sync if you would like that. I'll post to coinshield.io and here when I upload it. What OS?

Thank You,
Viz.

[BitcoinSanDiego]

Windows 7 x64

[Vandalay23]

Hey CoinShield Community !!

Can anyone please guide me on how to create a provably unspendable burn address?

It should be obvious, for example it could contain a lot of consecutive X's.

Will appreciate your kind help.

[yampi]

How are public addresses generated?

[Razerglass]

Hey CoinShield Community !!

Can anyone please guide me on how to create a provably unspendable burn address?

It should be obvious, for example it could contain a lot of consecutive X's.

Will appreciate your kind help.

https://bitcointalk.org/index.php?action=profile;u=293467;sa=showPosts

you have spammed this question in over 5 threads

[Videlicet]

How are public addresses generated?

Public key generated from sect571r1 private key, hashed with SK576 then to SK256 for final address then bytes converted to base58 encoding.
This creates a 256 bit Base58 encoded string: 2RC9FfVXkbfbLKgUqWoPN8NHgmNqA1NxrVpPeHsNwSNtufuES6h

Thank You,
Viz.

[yampi]

Hey CoinShield Community !!

Can anyone please guide me on how to create a provably unspendable burn address?

It should be obvious, for example it could contain a lot of consecutive X's.

Will appreciate your kind help.

Here's one 5JwsFz27yQ9gRRfGXZeV2YTVEcP1W2AdSjjQM2TgmtmKRkw66P9
It's the skein256 hash of 0 converted to base58check.

[BitcoinSanDiego]

I am releasing 1.0.3 with POS activation in the coming few days. Keep posted  

Thank You,
Viz.

Hey Viz, this was over 1 month ago now since you posted this ETA.  Can you give us a little more info on when you expect to release 1.0.3 and if you have run into any difficulties preventing the release?  I appreciated your last update but it would be nice to have a little more info so community can help promote and bring in new investors/participants.

Shedding some more light on the actual progress being made by dev team behind the scenes would be great!

[Videlicet]

I am releasing 1.0.3 with POS activation in the coming few days. Keep posted  

Thank You,
Viz.

Hey Viz, this was over 1 month ago now since you posted this ETA.  Can you give us a little more info on when you expect to release 1.0.3 and if you have run into any difficulties preventing the release?  I appreciated your last update but it would be nice to have a little more info so community can help promote and bring in new investors/participants.

Shedding some more light on the actual progress being made by dev team behind the scenes would be great!

It's not due to developmental deficiencies, rather coordinating many changes in which I am implementing the PoS system with. I projected this time over a month ago before the internal changes we have been undergoing as far as the rebrand, new features, etc. in which I feel it most appropriate to release the stake system at this point. There will be no effect to the end user as their stake amount will be compensated in the extra time after postponing release - so with this being the case, I feel it is good practice to implement all the changes into a coordinated point.

I'm also working out a new technology I call "The Block Tree" in which inflation branches would be generated from the trunk via PoS systems, I am still undecided whether I will allow PoS on the Trunk, rather than their competing stake branches. This will allow rapid transaction processing as more branches are generated from their root transactions, allowing the network transaction processing to be expanded as transaction load increases because each branch will be capable of simultaneous transaction processing with other branches.

We will keep you informed with the establishing of the physical business structures such as office, corp, etc. The first will be called: Nexus Tech, Inc. in which will be responsible for the development of secure systems to be used in Nexus and many other industries.

Thank You,
Viz.

[go6ooo1212]

Thank you for that detailed explanation , Viz. You have the support from the community , cheers

[BitcoinSanDiego]

Excellent.  We've now got some great information over last few days.  Thank you for explaining more to investors/public

Note to 1.0.3: We are releasing this update with the incorporation of the Tech company, public disclosure of identities including pictures and business address, rebrand with public release of white paper. These pieces have to coordinate together as we lay the foundation for the new developments that have evolved with the maturing of the concepts and technology that create this economy. We are working to move into the real world as a legitimate currency not plagued with images of illegal activity and ponzi schemes, but a transparent useable currency that produces value in many industries besides Crypto.

Note to 2.0.0: My plan is to have the proper visibility by the time I get Core 0.2.0.0 built, which will include LLL integration [created by me] which will allow us a more efficient protocol, database, serialization, hashing, and code base. Also to come is complete rewrite of the Qt from scratch to solve many issues with its speed and efficiency. These productions will be coming from the Tech company, in which I hope by this time our visibility is strong enough for me to release 0.2.0.0 as open source.

Re: Delay of 1.0.3 Release:

It's not due to developmental deficiencies, rather coordinating many changes in which I am implementing the PoS system with. I projected this time over a month ago before the internal changes we have been undergoing as far as the rebrand, new features, etc. in which I feel it most appropriate to release the stake system at this point. There will be no effect to the end user as their stake amount will be compensated in the extra time after postponing release - so with this being the case, I feel it is good practice to implement all the changes into a coordinated point.

I'm also working out a new technology I call "The Block Tree" in which inflation branches would be generated from the trunk via PoS systems, I am still undecided whether I will allow PoS on the Trunk, rather than their competing stake branches. This will allow rapid transaction processing as more branches are generated from their root transactions, allowing the network transaction processing to be expanded as transaction load increases because each branch will be capable of simultaneous transaction processing with other branches.

We will keep you informed with the establishing of the physical business structures such as office, corp, etc. The first will be called: Nexus Tech, Inc. in which will be responsible for the development of secure systems to be used in Nexus and many other industries.

Thank You,
Viz.

Keep up good work!

[Videlicet]

You're welcome, the inquisition is likewise appreciated 

Thank You,
Viz.

[Razerglass]

Excellent.  We've now got some great information over last few days.  Thank you for explaining more to investors/public

Note to 1.0.3: We are releasing this update with the incorporation of the Tech company, public disclosure of identities including pictures and business address, rebrand with public release of white paper. These pieces have to coordinate together as we lay the foundation for the new developments that have evolved with the maturing of the concepts and technology that create this economy. We are working to move into the real world as a legitimate currency not plagued with images of illegal activity and ponzi schemes, but a transparent useable currency that produces value in many industries besides Crypto.

Note to 2.0.0: My plan is to have the proper visibility by the time I get Core 0.2.0.0 built, which will include LLL integration [created by me] which will allow us a more efficient protocol, database, serialization, hashing, and code base. Also to come is complete rewrite of the Qt from scratch to solve many issues with its speed and efficiency. These productions will be coming from the Tech company, in which I hope by this time our visibility is strong enough for me to release 0.2.0.0 as open source.

Re: Delay of 1.0.3 Release:

It's not due to developmental deficiencies, rather coordinating many changes in which I am implementing the PoS system with. I projected this time over a month ago before the internal changes we have been undergoing as far as the rebrand, new features, etc. in which I feel it most appropriate to release the stake system at this point. There will be no effect to the end user as their stake amount will be compensated in the extra time after postponing release - so with this being the case, I feel it is good practice to implement all the changes into a coordinated point.

I'm also working out a new technology I call "The Block Tree" in which inflation branches would be generated from the trunk via PoS systems, I am still undecided whether I will allow PoS on the Trunk, rather than their competing stake branches. This will allow rapid transaction processing as more branches are generated from their root transactions, allowing the network transaction processing to be expanded as transaction load increases because each branch will be capable of simultaneous transaction processing with other branches.

We will keep you informed with the establishing of the physical business structures such as office, corp, etc. The first will be called: Nexus Tech, Inc. in which will be responsible for the development of secure systems to be used in Nexus and many other industries.

Thank You,
Viz.

Keep up good work!

Thats some good stuff. Not even a small portion of what is in the works though.

[BitcoinSanDiego]

You're welcome, the inquisition is likewise appreciated  

Thank You,
Viz.

My pleasure.  I have two more questions and points I would like you to address.

#1 Are you planning on altering the minting rate?  It seems that the current high rate of minting puts a lot of downward pressure on market prices - even though mining is technically not profitable at the moment. The reason for high rate of selling in the market is most likely that some people get free electricity.  Anyone with access to a computer lab at a university or business can install CPU miners on dozens or perhaps even hundreds of computers and pass the cost of electricity off to someone else.  This is definitely the biggest downfall to CPU mining overall because it short circuits the proof-of-work profitability model. They can raise the difficulty so high with no cost.  This makes it difficult to invest knowing that someone is likely getting coins for nearly free and they have no incentive to hold them.  This can actually suck value out of the economy.

Therefore, I would argue that Proof-of-Stake should have a significantly higher reward for it's channel to start with that is also reduced on a decay function and the high minting rate from mining could be reduced and the economy balanced better.

#2 Is there any ETA or time-frame (ie: 1-2 weeks, 1 month, 3 months) at the moment for 1.0.3 release?

[Videlicet]

These graphs are the decayed amount of CSD to be produced into the market, PoS interest rates will be variable from 0.1 - 3% with 3% being for holding the longest. This will give incentive to even free electricity users to hold, to gain larger stake rewards over longer time. You'll see the decayed amounts reducing quicker now as time moves on, they are exponential decay functions so they are automatically reducing to a minimum over the next 10 years. This is to ensure fair distribution by making the public distribution phase 10 years. Keep in mind CPU channel only has 50% of the produced mint, so therefore can only effect 50% of the market.

I would like to refrain from giving time frames as it has been obvious that they have been inaccurate. I can keep you posted as to the developments of such, but as I said in my previous post - I am considering designing the PoS system into a completely new binary structure for transaction processing which is partial to the delays as well - there is no point in releasing PoS now just to depricate it at a point in the future.

Thank You,
Viz.

[BitcoinSanDiego]

PoS interest rates will be variable from 0.1 - 3% with 3% being for holding the longest.

That is a great feature and your foresight there is noted and appreciated

I understand your reluctance to give time-frames.  I would certainly hope that whatever you decide to do regarding the core protocol, it seems to me there is currently no correlation between the core protocol development and the disclosure of company/business details and plans.  So, my recommendation would be to provide as much disclosure as possible for the sake of retaining project interest and long-term investors regardless of what you decide to do in the core protocol.

Thanks for the thoughtful answers