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

[Videlicet]

skunk,

The source code will be made fully available post-launch, at the launch of the Coinshield Exchange Channels. I will be releasing Doxygen documentation for the Coinshield Core [Pre Launch] to help amplify just that, trust, while protecting the innovation.

Viz.

[gjhiggins]

The source code will be made fully available post-launch

I shall bide my time until then. You have perhaps made an unfortunate choice of boost 1.54 for the Ubuntu build, many altcoin READMEs refer to 1.54 as problematic. I have 1.55, via Ubuntu 14.04.

Cheers

Graham

[KryptoKash]

Good work Videlicet!
I been on testnet since last night. No issues to report here. Windows 7. Ill be updating OP, homepage, and forum (Coinshieldtalk.org) shortly 

[gatra]

III. Multiple Mining Channels: Coinshield has more options as a miner to help make the distribution as fair as possible. Dense Prime Clusters are found on the CPU channel from an SK1024 hash, while GPU miners do conventional SK1024 hashing. Each channel has its own difficulty adjustments and released rewards. The block trust is calculated to prevent streaks per channel, so in other words a different channel block will always break a streak of 2 or more blocks on a single channel. This makes each mining channel reinforce each other to prevent a 51% attack on any of them forcing an attacker to need 51% of all 3 mining channels [CPU, GPU, POS].

hi!
sorry but the thread became tl;dr - could you please specify more about these Dense Prime Clusters? or point me to where it is explained?

I like the idea of adjusting block trust "ony the fly" to prevent streaks, btw

[Videlicet]

The source code will be made fully available post-launch

I shall bide my time until then. You have perhaps made an unfortunate choice of boost 1.54 for the Ubuntu build, many altcoin READMEs refer to 1.54 as problematic. I have 1.55, via Ubuntu 14.04.

Cheers

Graham

Thanks Graham, I'll be sure to update the Ubuntu boost build to 1_55 and re-upload a binary. Seems fitting since I used boost 1_55 for the windows builds.

III. Multiple Mining Channels: Coinshield has more options as a miner to help make the distribution as fair as possible. Dense Prime Clusters are found on the CPU channel from an SK1024 hash, while GPU miners do conventional SK1024 hashing. Each channel has its own difficulty adjustments and released rewards. The block trust is calculated to prevent streaks per channel, so in other words a different channel block will always break a streak of 2 or more blocks on a single channel. This makes each mining channel reinforce each other to prevent a 51% attack on any of them forcing an attacker to need 51% of all 3 mining channels [CPU, GPU, POS].

hi!
sorry but the thread became tl;dr - could you please specify more about these Dense Prime Clusters? or point me to where it is explained?

I like the idea of adjusting block trust "ony the fly" to prevent streaks, btw

Thank you, you can check out the code for the primeminer in my Github if interested in reading further. The guts of the prime number searching is located in "prime.cpp". Each whole number of difficulty is cluster size, and each decimal is the rarety of the cluster by the proportions of the fermat remainders of last composite number in the cluster.

Viz.

[LTCMAXMYR]

good work

[siliconchip]

When could we mine CoinShield?

[Videlicet]

good work

Thank You 


siliconchip,

You can mine it on the Testnet right now to help get familiar with the mining, and LLP [possibly help test?]. The Main Net will go live on the Equinox at Noon, this is when you can mine for profits either with your CPU or GPU. Staking will begin 1 month after the Equinox.

Viz.

[KryptoKash]

good work

Thank You  


siliconchip,

You can mine it on the Testnet right now to help get familiar with the mining, and LLP [possibly help test?]. The Main Net will go live on the Equinox at Noon, this is when you can mine for profits either with your CPU or GPU. Staking will begin 1 month after the Equinox.

Viz.

The Equinox [9/23/2014 12:00 PM UTC]
:-)

Ill be sure to get a countdown later today.

[skunk]

skunk,

The source code will be made fully available post-launch, at the launch of the Coinshield Exchange Channels. I will be releasing Doxygen documentation for the Coinshield Core [Pre Launch] to help amplify just that, trust, while protecting the innovation.

Viz.

then hopefully there will be some pools available at launch because my system is on boost 1.55 so your linux builds don't works here...
please either rebuild for boost 1.55 or rebuild it statically.

[cwrmyy888]

Testnet Launch: Now!
Mainnet Launch: The Equinox [9/23/2014 12:00 PM UTC]

Coinshield Core is done, well, ready for launch. This is a Testnet only client, to start the distribution of binaries, and help to ensure everyone who wants to be involved from the launch date can have a binary that works [and I can verify there are no more bugs]. The binaries included here are compiled for Ubuntu and Windows. Now as lovely as Linux is, there is the flaw of not-so-portable binaries. From my research Ubuntu Binaries should work on most Linux Distros, but in case it doesn't work on yours, please post here, or send me an email or PM with your OS version, and I'll install that OS on a spare computer and compile it for you. This way you will be sure to be ready for the Coinshield Launch.

Here are the links to the binaries [For linux remember to allow Coinshield through your firewall]:
Coinshield Core - Ubuntu x86
Coinshield Core - Windows x86

I removed the internal miners, it is unnecessary code considering I took the time to write external miners.
So to mine, you must download a CPU Miner, or compile it from my Github

Here are compiled binaries for the CPU Prime Miner [x64 coming when my TODO list is smaller ]:
Primeminer - Windows x86 If you want a linux binary for the primeminer, let me know and I'll compile one.

Now, I would like to take this opportunity here to give the Finals of all the Features in Coinshield.

I. SK Hashing: Using the new SHA3 hashing algorithms Skein and Keccak, Coinshield runs as a pure SHA3 network. The SK templates range from SK64 to SK1024. Here is the usage of each SK hashing template:
SK64: Hash for Modifier Checksum as second fingerprint for Decentralized Checkpoints.
SK256: Hash to generate an Address from your Public Key Hash.
SK512: Hash for Transactions
SK576: Hash of Public Keys, which is then Hashed with SK256 to generate your Address.
SK1024: Hash for Block Generation. Used by both the CPU and GPU miners [and Stake Minting] to create new Blocks.


II. Private Key Upgrades: Using the EC_KEY algorithms allocated in OpenSSL, I upgraded the private keys to a non prime based elliptical curve encryption of 571 bits. This was the largest algorithm that was available, and also not dependent on prime numbers. The reason for this is simple: Coinshield CPU Miners are searching for very large prime numbers, so if any 'discoveries' happen from such actions, it could compromise the whole private key system. The exact algorithm Coinshield uses is secp571r1 compared to sect256k1 that is utilized by most cryptocurrencies today. This compliments the upgraded hashing algorithms to ensure the highest security possible by today's standard.


III. Multiple Mining Channels: Coinshield has more options as a miner to help make the distribution as fair as possible. Dense Prime Clusters are found on the CPU channel from an SK1024 hash, while GPU miners do conventional SK1024 hashing. Each channel has its own difficulty adjustments and released rewards. The block trust is calculated to prevent streaks per channel, so in other words a different channel block will always break a streak of 2 or more blocks on a single channel. This makes each mining channel reinforce each other to prevent a 51% attack on any of them forcing an attacker to need 51% of all 3 mining channels [CPU, GPU, POS].

Block structure for Mining uses a 64 bit nNonce to overcome the 1Gh/s issue bitcoin had, part of the reason getblocktemplate was developed. At 1 Gh/s, it will take 18446744073 seconds before a new block is required, apposed to 4-5 seconds for Bitcoin. This helps in smoother operation of large pools, and accommodation for very large hashrates without necessary modifications to the LLP.


IV. Proof of Stake: Developed by Sunny King for Peercoin, and adapted to fit in the multiple channel designs of Coinshield. Distribution is held on a timed release to only allow a maximum of 2% inflation yearly. Proof of Stake will begin after 1 month, so I can finish the modifications / upgrades that I am implementing, while allowing the launch to not be delayed further. The coins will stake for 2 years, to keep longevity in block production.


V. Time Locked Distribution: This feature ensures that you will always have accurate data of the total CSD supply, and have an accurate prediction on what the Supply will be after X amount of time. General results are within ~0.1% margin of error which means that you will always know the given supply at any time whether past, present, or future.

With the time-locked distribution, it will prevent anyone with a large hashrate from inflating the currency while the difficulty adjusts. This is done by basing the block reward off of the time it took to create your block. This is complimented by the Exponential Decay Equations that will slowly reduce the total supply released per minute to ease reduction of supply to the miners. This ensures that miners won't be left 'in the red' after the block reward halves.

The Time Locked Distribution is split 50-50 for the CPU channel and the GPU channel. This ensures that neither channel gets more supply than the other, I believe this is the fairest approach.


VI. Shield Target Difficulty: This is an asymmetrical difficulty adjustment which gives higher priority to reduction in difficulty than inflation. This will keep the blockchain from getting 'stuck' for periods of time. The second aspect is that of reduced difficulty if too much supply has been released. This will continually reduce the difficulty as long as there is more than 8 minutes of supply available. From this point, miners will be getting a Full Subsidy while the difficulty deflates, to ensure more stimulation in block production, rather than difficulty.


VII. Unified Time: The Unified Time System synchronizes your clocks worldwide from an initial time seed. This seed is then propagated through the network, and maintained. Once the seed is held in the network, it can be retrieved from any node making this a Decentralized, Trustless, Clock synchronization method. Another function is to reduce any dependencies on centralized sources, such as Network Time Protocol [NTP] which has just been found to have very large Amplifiction Attack Vectors [In other words, anything running NTP is vulnerable to DDOS].

The difficulty with this time system though, is that each computer sees a second 1-2 microseconds from each other, which means computer clocks are always drifting + - 2 seconds per day. The way I compensated for this is keeping the Unified Average Moving, so that we get the most recent time seeds from last X hours. This allows the clocks to stay tight, but slightly fluid. The LLP Clock Regulator periodically grabs the Unified Seed from the Seed nodes to continually build and move this average. I usually see about + or - 1 second over a day or so.


VIII. Lower Level Protocol: From my many years of experience in Network Programming, I put this knowledge to the test in the development of the Lower Level Protocol. It uses template classes to allow anyone to 'build your own protocol' without having the need for any Network Programming knowledge. It gets rid of the "1 connection per thread" limitation still lingering on a lot of servers, to allow it to scale to your hardware maximums. I maxed the bandwidth on a Server before I broke 1% CPU usage. These results come from the simplicity, but power of this protocol. From these templates, I developed two extra Protocols for Coinshield Core, the Core LLP and the Mining LLP.

The Core LLP is responsible for the Unified Time functions, to have the quickest responses from the Server to ensure the Time Seed isn't diluted by Network Propogation. I have personally run tests with no allowable clock drift with no forks, but to be sure this Testnet is running with an 8 second allowable clock drift.

The Mining LLP is what miners will connect to in order to generate blocks. This protocol allows any developer to 'plug and play' the LLP Client into their miner to remove the need for Network Programming associated with Mining. In my opinion, the focus of a miner developer should be in the optimization of their algorithms, not messing around with tedious Sockets.

The Lower Level Protocol also has built in DDOS protection that functions on a moving average to determine your Score. You as a Client will have a Request Score and a Connection Score. This is because certain operating systems have limitations on the maximum active sockets, and their corresponding timeouts so if you go over 200 Connection Requests per Second without modifying this data, your whole Network Interface will reboot. Not a fun experience. The moving average makes the DDOS protection based on Throttled Requests rather than Normal LLP Request. This helps to distinguish the difference between real traffic, and an active DDOS attack. The more a Client gets banned, the longer they will be banned for to also give slight tolerance to the average user if their client accidentally pushes the requests over the limit [could be public wifi with same IP, etc.]


IX. Decentralized Checkpointing: I am really happy how this one came together, it became much simpler than my initial system. It works by passing a checkpoint that is flagged from being the block to set a new time interval through the blockchain onto another time interval. Once this new time interval is reached, that pending checkpoint becomes hardened and a new pending checkpoint is flagged. Currently this Testnet has a Checkpoint Timespan of 10 minutes which means, after you send a transaction, it will be behind a Checkpoint within 10 minutes. This helps to further prevent attackers from causing any harm, for they are only able even with 51% of all three Mining Channels to reorganize the chain for the past 10 minutes. The Checkpointing also uses the Stake Modifier Checksum generated from a CBlockIndex as a second fingerprint for the Checkpoint, so each checkpoint operates on a pair of Stake Modifier and Block Hash for extra security. Stake modifier checkpoints before were hard coded into kernel.cpp, and manually updated as with Peercoin.


Alright, so that's the rundown of my work over the past 4 months of Developing Coinshield. If you may have noticed in my signature, there is a link. This will take you to my Github where there is the source code of the External Prime Miner [CPU]. During this time we can test the network, find bugs, and maybe if you are kind enough e-mail me your debug.log file so I can read through it an ensure there aren't any 'funny' things happening. This will continue to help make Coinshield stronger.

With The Testnet Launch I am releasing the LLP Client which includes the LLP types that are shared with the LLP Template Servers. This is in the External Prime Miner, ripe for the picking. Of course, it requires the LLP Server templates which I will be releasing at a later date integrated with an LLP Pool Server with Variable Difficulty, etc. I do have more pressing things to build currently though, so that is on the lower end of my list.

If you want to run a Daemon, you need a coinshield.conf file. No addnodes here [I really dislike seeing that in config files when there is a perfectly functional DNS seeding system Satoshi took the time to Develop.]

Minimum Config to run Daemon would be:

server=1
rpcuser=user
rpcpassword=password

If you love to watch realtime logging like myself, add printtoconsole=1. This will show you "under the hood" of the Coinshield Core if you are interested in seeing what is happening. I will be distributing another set of binaries that are launch prepared a few days before launch, so please keep your eyes on the thread. This client will not work on the Real Coinshield Network come launch time. I am doing this to help establish a frame of reference for who is going to be an active participant from day 1, and what tools they will need to be successful.

Remember, if you need a Launch Binary for Linux, and none work that are available, please contact me with your operating system specifications so I can ensure you can be an active participant from day 1.

Bitslapper currently has made great progress with the GPU Miner, I'm impressed with his perseverance and dedication to developing something new, and doing it well. Without him, we would not be making this launch date; this whole process ended taking way more time than anticipated, but I have no regrets. Coinshield incorporates a lot of new Technology that will hopefully not just make the Crypto world a better place, but make the Internet a better place; and show us all that we are the ones that change things. You are changing the Crypto Landscape if you even use Coinshield, if you tell your neighbor, if you spread the word. If you petition for Verification and Destruction on CoinShieldTalk.org, or even if you mine 50 CSD. Remember that, and remember that it spreads. Those of you that have been dedicated from the beginning I thank you, your support and ideas have brought me to develop what I did: Made by the People, for the People.


As Coinshield was conceived on the Solstice, it is born on the Equinox. The revolution has begun.
Viz.

Start the CPU channel how to excavate the wallet
The wallet help
Without this command

[Videlicet]

Good to know, I'm working on a Boost 1_55 static build at the moment. To mine with wallet you need to compile external CPU miner from my Github and run command: "make -f makefile.unix" which requires openssl and boost. You could then start it from linux commandline: alias miner='/home/viz/coinshield-cpuminer/coinshield_prime 127.0.0.1 4447' then 'miner' to run and see debug output.

I'll post once I have the updated wallet build. Would you like a cpu miner binary while I'm at it?

As to pools, as mentioned in my post; I will be developing a pool as soon as my TODO gets smaller. This will be how the server side LLP templates will be released, since Coinshield is incorporating so many new features, all existing pool software will not work. Solo mining should work fine for now and early launch until I get to developing the pool.

edit: once finished, the LLP pool will be released fully open source so anyone can start their own pool or modify and improve my codebase.

Thank You,
Viz.

[skunk]

Good to know, I'm working on a Boost 1_55 static build at the moment. To mine with wallet you need to compile external CPU miner from my Github and run command: "make -f makefile.unix" which requires openssl and boost. You could then start it from linux commandline: alias miner='/home/viz/coinshield-cpuminer/coinshield_prime 127.0.0.1 4447' then 'miner' to run and see debug output.

I'll post once I have the updated wallet build. Would you like a cpu miner binary while I'm at it?

As to pools, as mentioned in my post; I will be developing a pool as soon as my TODO gets smaller. This will be how the server side LLP templates will be released, since Coinshield is incorporating so many new features, all existing pool software will not work. Solo mining should work fine for now and early launch until I get to developing the pool.

Thank You,
Viz.

thank you viz, building miner from source was easy enough under linux (i usually never install binary blobs but always build from source).
solo mining is not a problem until the net hash rate is low, but a pool is critical imho when it raises for desktop miners like me...

[Videlicet]

Yes I completely agree, everyday desktop miners are what the CPU channel is designed for anyway; I'll put the Pool higher on my TODO then 

Thanks for the Feedback,
Viz.

[KryptoKash]

OP has been updated. 11 new features in all. Good work Viz. Countdown has been added.
Please Note:This coin will go live on:The Equinox [9/23/2014 12:00 PM CDT]
Countdown: http://bit.ly/Zonumm

 

    

Coinshield was created to protect the quality standard in cryptocurrency design.
It maintains this quality by absorbing economies that the community votes to have destroyed.
Less coins in the marketplace, and tougher launch requirements are only the beginning of Coinshield.

Please Note:This coin will go live on:The Equinox [9/23/2014 12:00 PM CDT]
Countdown: http://bit.ly/Zonumm
Homepage: http://Coinshield.io
Forum: http://CoinshieldTalk.org

Testnet: Make sure everything is working on your miners prior to launch.

Here are the links to the binaries [For linux remember to allow Coinshield through your firewall]:
Coinshield Core - Ubuntu x86
Coinshield Core - Windows x86

We removed the internal miners, it is unnecessary code considering we took the time to write external miners.
So to mine, you must download a CPU Miner, or compile it from my Github

Here are compiled binaries for the CPU Prime Miner [x64 coming soon]:
Primeminer - Windows x86 If you want a linux binary for the primeminer, let us know and Videlicet will compile one.

CSD- Unique Features

The following features are unique to Coinshield and were created by Videlicet.


SK Hashing: Increased Security
SK-1024, SK-512, and SK-256 hashes used for Coinshield Core (to replace SHA2). It is Skein (second runner up in NIST SHA3 Competition) and Keccak (New SHA3 Standard) hashed together. Coinshield is the first to run as a pure SHA3 network.

The SK templates range from SK64 to SK1024. Here is the usage of each SK hashing template:

SK64: Hash for Modifier Checksum as second fingerprint for Decentralized Checkpoints.
SK256: Hash to generate an Address from your Public Key Hash.
SK512: Hash for Transaction
SK576: Hash of Public Keys, which is then Hashed with SK256 to generate your Address.
SK1024: Hash for Block Generation. Used by both the CPU and GPU miners [and Stake Minting] to create new Blocks.


Private Key Upgrades:
Using the EC_KEY algorithms allocated in OpenSSL, Coinshield has upgraded the private keys to a non prime based elliptical curve encryption of 571 bits. This was the largest algorithm that was available, and also not dependent on prime numbers. The reason for this is simple: Coinshield CPU Miners are searching for very large prime numbers, so if any 'discoveries' happen from such actions, it could compromise the whole private key system. The exact algorithm Coinshield uses is secp571r1 compared to sect256k1 that is utilized by most cryptocurrencies today. This compliments the upgraded hashing algorithms to ensure the highest security possible by today's standard.


Coinshield will use Multiple Mining Channels + Proof of Stake
Coinshield has more options as a miner to help make the distribution as fair as possible. Dense Prime Clusters are found on the CPU channel from an SK1024 hash, while GPU miners do conventional SK1024 hashing. Each channel has its own difficulty adjustments and released rewards. The block trust is calculated to prevent streaks per channel, so in other words a different channel block will always break a streak of 2 or more blocks on a single channel. This makes each mining channel reinforce each other to prevent a 51% attack on any of them forcing an attacker to need 51% of all 3 mining channels [CPU, GPU, POS].


CSD Unified Time Model - Synchronizes Clocks Worldwide
Miners can no longer try to gain an unfair advantage by manipulating their clocks. The Unified Time System synchronizes your clocks worldwide from an initial time seed. This seed is then propagated through the network, and maintained. Once the seed is held in the network, it can be retrieved from any node making this a Decentralized, Trustless, Clock synchronization method. Another function is to reduce any dependencies on centralized sources, such as Network Time Protocol [NTP] which has just been found to have very large Amplifiction Attack Vectors [In other words, anything running NTP is vulnerable to DDOS].

The difficulty with this time system though, is that each computer sees a second 1-2 microseconds from each other, which means computer clocks are always drifting + - 2 seconds per day. The way Coinshield has compensated for this is by keeping the Unified Average Moving, so that we get the most recent time seeds from last X hours. This allows the clocks to stay tight, but slightly fluid. The LLP Clock Regulator periodically grabs the Unified Seed from the Seed nodes to continually build and move this average. We usually see about + or - 1 second over a day or so.


CSD Fractional Rewarding - Prevents Inflation / Locks Distribution to Timed Release
Coinshield will use a fractional rewarding system, this helps to ensure coin generation stays “on target” regardless of the number of blocks actually being created by the miners. It will be based per mining channel, which means each channel is awarded 50% of the time released supply (to keep distribution fair). No more instamine. Multipools will no longer profit.


No More Block Reward Halving
Coinshield was designed to have longevity, and be a stable container for wealth for many years to come. This is why Coinshield block reward will never half over night. Coins produced per minute is based on a slow decaying curve. This eases shock to the market by following a very natural time based curve. Mining should be considered “long-term” (~1% inflation after 10 years).


SK-1024 (New GPU Mining Algorithm)
Skein-1024 will be hashed to Keccak-1600 to produce an SK-1024 hash.


Prime Search (New CPU Mining Algorithm)
 This was created for the betterment of Mathematics and Number Theory. CPU miner will look for dense prime number clusters from a 1024 bit hash (~308 digits). This will help in the proving / disproving of The Twin Prime Conjecture, Polignac's Conjecture, and The Hardy-Littlewood Conjecture.


Shield Target Difficulty
This is an asymmetrical difficulty adjustment which gives higher priority to reduction in difficulty than inflation. This will keep the blockchain from getting 'stuck' for periods of time. The second aspect is that of reduced difficulty if too much supply has been released. This will continually reduce the difficulty as long as there is more than 8 minutes of supply available. From this point, miners will be getting a Full Subsidy while the difficulty deflates, to ensure more stimulation in block production, rather than difficulty.


Decentralized Checkpoints
We are really happy how this one came together, it became much simpler than our initial system. It works by passing a checkpoint that is flagged from being the block to set a new time interval through the blockchain onto another time interval. Once this new time interval is reached, that pending checkpoint becomes hardened and a new pending checkpoint is flagged. Currently this Testnet has a Checkpoint Timespan of 10 minutes which means, after you send a transaction, it will be behind a Checkpoint within 10 minutes. This helps to further prevent attackers from causing any harm, for they are only able even with 51% of all three Mining Channels to reorganize the chain for the past 10 minutes. The Checkpointing also uses the Stake Modifier Checksum generated from a CBlockIndex as a second fingerprint for the Checkpoint, so each checkpoint operates on a pair of Stake Modifier and Block Hash for extra security. Stake modifier checkpoints before were hard coded into kernel.cpp, and manually updated as with Peercoin.


Lower Level Protocol
The LLP uses template classes to allow anyone to 'build your own protocol' without having the need for any Network Programming knowledge. It gets rid of the "1 connection per thread" limitation still lingering on a lot of servers, to allow it to scale to your hardware maximums. We maxed the bandwidth on a Server before it broke 1% CPU usage. These results come from the simplicity, but power of this protocol. From these templates, we developed two extra Protocols for Coinshield Core, the Core LLP and the Mining LLP.

The Core LLP is responsible for the Unified Time functions, to have the quickest responses from the Server to ensure the Time Seed isn't diluted by Network Propagation. We have personally ran tests with no allowable clock drift with no forks, but to be sure this Testnet is running with an 8 second allowable clock drift.

The Mining LLP is what miners will connect to in order to generate blocks. This protocol allows any developer to 'plug and play' the LLP Client into their miner to remove the need for Network Programming associated with Mining. In my opinion, the focus of a miner developer should be in the optimization of their algorithms, not messing around with tedious Sockets.

Lower Level Protocol also has built in DDOS protection that functions on a moving average to determine your Score. You as a Client will have a Request Score and a Connection Score. This is because certain operating systems have limitations on the maximum active sockets, and their corresponding timeouts so if you go over 200 Connection Requests per Second without modifying this data, your whole Network Interface will reboot. Not a fun experience. The moving average makes the DDOS protection based on Throttled Requests rather than Normal LLP Request. This helps to distinguish the difference between real traffic, and an active DDOS attack. The more a Client gets banned, the longer they will be banned for to also give slight tolerance to the average user if their client accidentally pushes the requests over the limit [could be public wifi with same IP, etc.]

Coinshield: Shitcoin Cleanup

Destroying a coin in the following context means to reduce the coins value to a minimum, and keep it there.

What Does Coinshield Do?
Coinshield will rid the industry of shit/clone coins. It will crash the economies of these coins, and in the process expand its value. It will set a standard to what is accepted by the community and what is not. It will effectively let all coin developers know that if they release another clone they are just wasting their time, because the coinshield community will kill it. They will not profit from it. Ever! Coinshield will provide security for all innovated coins. Coins that show innovation will be granted Coin Shield Verification (more on this below). Coinshield will help every trader that has fallen victim to buying and holding shit coins and now find themselves in the red. Not only will Coinshield help you get your money back, it will be your tool to declare that coin shit, and effectively destroy it. Coinshield is the tool/coin that will take this industry from "the wild west" where anyone can just copy any coin and expect a return to an industry of innovation.


How Does Coinshield Do All That?
There is a long version and a short version answer to this question. The short version is simple: YOU! Let me explain. The Coinshield process begins when a user of our community (sign up and register your username now before someone else does http://coinshieldtalk.org) creates a petition declaring that "Flyingtoes Coin" is a shitcoin and needs to be stopped (of course we all know "Flyingtoes Coin" is not a real coin, this just an example). This petition will contain a poll (so users of the community can vote if the coin is a shitcoin or not), and an argument as to why the OP feels so strongly that the coin is a shitcoin and needs to be destroyed.

If The Community Agrees
If the petition gains majority support, it is passed continuing to the next step on its journey into a faded memory. Each "winner" will be put to vote on our main page (http://coinshield.io). We will then chose the coin with the most votes and deem it the shittiest of all shitcoins. After winning that title it is then given a once in a life time opportunity (mainly because it will be dead shortly after) of moving on to the final stage of being destroyed. It will then be added to our trading section of our site.

Trading Section?
That's right. We can't just figure out how to kill a shitcoin and say too bad to all the shitcoin holders. It's not their fault that the coins they were holding were deemed to be shit and will die. So we figured out a way to make this process a win(Coin Holder) - win(Coin Shield) - win(Industry). We will take your shit coin and give you Coinshield. Each coin that gets added to our trading section will get a trade "channel" . Here users will be given their own deposit address and will view an exchange rate. This exchange rate is not static. How much CSD you receive is decided by a very complex algorithm which will take into account the following:

• How many buy orders the shitcoin has
• The shitcoins value
• Coinshields value
• Total amount of shitcoin transferred to channel prior.
• Total market cap of that shitcoin.

Please keep in mind the first traders WILL make THE MOST PROFIT just for giving us shitcoins! The way the algorithm works will allow a profit to be made here...but only if you are one of the first few transaction it made. Keep in mind with every trade the system does the amount of Coinshield you receive will be less and less. This is because as soon as the system receives the 1st shitcoin the destruction of that coin begins and its value begins to drop.

The Death Of The Shitcoin.... Oh Did We Forget To Mention You Earn Even More Money From This?
You might be asking yourself why does Coinshield want your shitcoins? Well as it turns out we don't. As soon as the system gets them, they are automatically transferred to the nearest exchange! (Okay maybe not the nearest but the one with the highest buy order). Once in that exchange, they are dumped on that buy order. This will not only begin to crash their value, it will also generate Bitcoins! The Coinshield Exchange System will then use these Bitcoins to build buy walls. Coinshield does not just destroy a shitcoin, it also absorbs their economy! Remember those shitcoins you traded to us for Coinshield? Well not only did we use them to kill that coin we also used them to raise the value of the coins we gave you. Amazing right? well it doesn't end here...

What Is Coinshield Verified?
Coinshield's purpose is to promote innovation and to aid in the prevention of non-innovated coins. When a coin becomes Coinshield Verified, it means it is immune to the Exchange Channels. It is then protected against forgery, because if another coin clones it, we will open a trade channel for that coin without a petition ever being made to expedite its death.

Who Decides What Coin Is Coinshield Verified?
Well once again there is a long and a short answer. The short is simple: YOU! Anyone (Dev's included) who want any coin to become Coinshield Verified can go over to our forum (As mentioned above please sign up, register your username now before someone else does http://coinshieldtalk.org) and submit a petition to become Coinshield Verified. These petitions will have a voting poll and all supporting facts as to why the said coin is not a shitcoin. The community will discuss it and vote. Once verified, the coin will gain a rank from Coinshield Verified Ranks on main website by a voting system. This allows investors to get a decent idea of what is good, and what is shit.  

Shitcoin Cleanup is simply a tool for everyone to use... or not use.

Following Us On Twitter: https://twitter.com/CoinShieldTalk


Now For The Fun Stuff:
Maximum Supply: ~ 100 Million [3% Annual Inflation after 10 Years]
Block Times: 1 Minutes
Block Reward [Miners]:50 * e^(-0.0000011 * nHeight * [Chain Time Modular]) + 1
Block Reward [Channels - Coin Trade in]:10 * e^(-0.00000055 * nHeight * [Chain Time Modular]) + 1
Block Reward [Developers]:1 * e^(-0.00000059 * nHeight * [Chain Time Modular]) + 0.04
Mining Channels: [CPU] Prime Search, [GPU] SK-1024
Difficulty Retarget: Shield Target [Chain, Channel, and Time Proportions]
Proof of Stake: 1 Month, 2 Year Limit, 2% Annual Inflation
Coinbase Maturity: 360 Blocks ~ 6 Hours
Transaction Confirmation: 5 Blocks ~ 5 Minute
CoinShieldTalk Forum: coinshieldtalk.org
Premine: None

SUPPORT: CLICK HERE
Though we try, we are not always able to reply to bitcointalk.org posts.
The best place of support for Coin Shield is coinshieldtalk.org.

[sdersdf3]

OP has been updated. 11 new features in all. Good work Viz. Countdown has been added.
Please Note:This coin will go live on:The Equinox [9/23/2014 12:00 PM CDT]
Countdown: http://[Suspicious link removed]/Zonumm

haven't followed this closely - has there been a long delay in getting this off the ground? if so, why?

[Videlicet]

sdersdf3,

If you read through the features, you will come to see that development takes time.

The delays came from my perseverance to build unique and useful features for a coin, and not settle for anything less. Keep in mind it took Satoshi a few years to build Bitcoin, now; I compliment that same work by enhancing and reconstructing the original code base.

It only takes a day to clone a coin, but takes months to build one.

Viz.

------------------------------------

Graham and Skunk,

As previously stated in my update, I said one reason for the Testnet launch is to ensure that everyone who wanted to be involved would have a binary to use. Graham you pointed out to use boost 1.55, and skunk you said the binary wouldn't load. I compiled using boost 1.55 and updated the linking to static, lastly changed the archiving format as there seemed to be issues with the previous zip. From my tests, the Ubuntu binaries look good; but if anyone continues to experience issues, would like it compiled for different version of linux, or any other request, please do not hesitate to let me know.

Ubuntu Wallet

Thank You,
Viz.

[gjhiggins]

Graham and Skunk,
I compiled using boost 1.55 and updated the linking to static

I can confirm that the Qt wallet now executes and syncs on 14.04.

Cheers

Graham
 

[Videlicet]

Graham and Skunk,
I compiled using boost 1.55 and updated the linking to static

I can confirm that the Qt wallet now executes and syncs on 14.04.

Cheers

Graham
 

Graham,

Thanks for the confirmation =)

Viz.

[gjhiggins]

Thanks for the confirmation =)

Oh, I forgot to mention, the Ubuntu CoinShield tray icon has a white background. You might want to change that to transparent.

Cheers

Graham