Slimcoin Relaunched bringing Proof of Burn Block Gen and New Hashing Algorithm

[slimcoin]

Slimcoin

New Block Generation through Proof-of-Burn
Even a Raspberry Pi can competitively mine, fast hardware offers no advantage



Website
https://slimcoin.org

Slimcoin was relaunched continuing from block 15935 on the old blockchain. It encountered a few issues with blockchain synchronization, but those have been long fixed and is soaring.
Official launch thread: https://bitcointalk.org/index.php?topic=613213.0

Specifications

• Uses Dcrypt algorithm, an algorithm made to be difficult to implement on an ASIC.
                This is done so that by the time any ASICs are made, Proof-of-Burn hash became bigger than Proof-of-Work
• Tri-Hybrid Blocks: Proof-of-Burn blocks, Proof-of-Stake blocks, Proof-of-Work blocks
• Block time is 1.5 minutes (90 seconds)
• Difficulty re-targets continuously
• Block Rewards:
  • Proof-of-Burn blocks: max 250 coins
  • Proof-of-Work blocks: max 50 coins
• Block rewards decrease in value as the difficulty increases
• Total 250 million coins

General Details of What is New
Slimcoin burn mining is truly ASIC-proof.

The main point of Proof-of-Burn is that "superior and faster mining hardware offers no advantage".

With all of these ASICs coming out for Scrypt now, many people are coming up with "ASIC proof" algorithms. Those are simply patches since mostly anything can be implemented on a custom ASICs an it is wrong to claim any hashing algorithm is ASIC proof. The best ASIC resistance is to not need them at all. Slimcoin utilizes that exactly. It does not focus on proof-of-work that much. It uses a new method of coin generation called proof-of-burn. Long story short, competitive mining can be done with a Raspberry Pi (super-low-power computer), literally.

Proof of Burn and Low Power Requirements:
        Proof-of-Burn mining is different from Proof-of-Work mining. More computers and higher computational power offers no advantage over slower computers. In short, how this is achieved is: when one burns coins, that transaction can be used to calculate burn hashes. There is also a multiplier that is multiplied to the raw burn hash to calculate the final burn hash. The greater amount of coins burnt by a user, the smaller the multiplier will be and the smaller the burn hashes will be. The smaller the burn hash is, the more likely the hash will meet the difficulty target (be accepted by the network as valid). Over time, the multiplier of a single burn transaction increases slowly, lowering the effectiveness of those burn hashes, acting like "decaying burnt coins". Per transaction, only 1 burn hashes is needed to be calculated per ~90 seconds. The reason low power can mine this is because basically almost any machine can hash a few SHA256 hashes in ~90 seconds. More information on Proof-of-Burn can be found here.

Technical Whitepaper:
An extensive explanation of what Slimcoin has new to offer: Slimcoin Whitepaper PDF

Downloads:
Executable available for both Linux and Windows
https://github.com/slimcoin/slicmoin-executable

Config File:

Code:

addnode=76.127.202.17:41680
addnode=76.127.202.17
addnode=96.237.174.192

Exchanges:
BTER SLM/BTC
exarena SLM/BTC

Pools
Slimcoin pool
Block Quarry Slimcoin Pool
Slimcoin HashHarder

Slimminer Downloads
Windows
Source Code

Tutorial for Linux source code compilation: https://bitcointalk.org/index.php?topic=613213.msg7192912#msg7192912
Tutorial for Windows source code compilation: https://bitcointalk.org/index.php?topic=613213.msg7090075#msg7090075

IRC Channel
#OfficialSlimcoin

Reddit
http://www.reddit.com/r/slimcoin/

Donation Address for Bounties:
ShooqRfkshDajLTvYMEKRKxXW7ooZLBZsm

[primer-]

RESERVED

[Shadow_Runner]

I do not understand this kind of "relaunch". 18K blocks mined already.

[bitspender]

Broken wallets, broken exchanges, i dumped this coin. No point in relaunch dev, sorry.

https://bitcointalk.org/index.php?topic=613213.0

Nothing but problems, bugs, forks, and tons of other shit that went wrong for this coin.

[kashish948]

looks interesting

[Richard213]

I do not understand this kind of "relaunch". 18K blocks mined already.

this cause by broken wallet that stuck in 192XX
but now they fixed it, maybe 

=================================

hey, my wallet still stuck in 191xx
is there any solution for my problem?

[primer-]

I do not understand this kind of "relaunch". 18K blocks mined already.

this cause by broken wallet that stuck in 192XX
but now they fixed it, maybe 

=================================

hey, my wallet still stuck in 191xx
is there any solution for my problem?

Its been fixed read the original thread....

[Chris001]

Looks like this will be the first time I actually mine.

Am I reading this right, that my slow computer will have equal, chance for a block as everyone who has fast computers/cards?

[primer-]

Looks like this will be the first time I actually mine.

Am I reading this right, that my slow computer will have equal, chance for a block as everyone who has fast computers/cards?

Yes.

[TheRealSteve]

Am I reading this right, that my slow computer will have equal, chance for a block as everyone who has fast computers/cards?

Depends on what part you're asking about.

PoW blocks - if you have a faster computer, you'll still get more blocks.  If you have a network with some beefy computers, you'll get a whole lot more blocks.  If you somehow figured out how to make a nice GPU miner, you'd get more blocks still.

PoB blocks - technically, yes.  I'd say read the whitepaper for some of the details.

[ordeath]

日期：2014/6/24 04:01
支出0.00 SLM
网络金额： -35.75 SLM
交易ID： 80b095668bbdacb189ad17840b3ca8c3593dcc30b108680394b478fd21058762

Staked coins must wait 520 blocks before they can return to balance and be spent. When you generated this proof-of-stake block, it was broadcast to the network to be added to the block chain. If it fails to get into the chain, it will change to "not accepted" and not be a valid stake. This may occasionally happen if another node generates a proof-of-stake block within a few seconds of yours.



Debug information

Debit: -35.75 SLM
Credit: 17.87 SLM
Credit: 17.888706 SLM

Transaction:
Coinstake(hash=80b095668b, nTime=1403553689, ver=1, vin.size=1, vout.size=3, nLockTime=0)
CTxIn(COutPoint(c407e004fccddea197df44db35567b30625114b6436c020230d895697de02c15, 0), scriptSig=3046022100c2284ea417a9a1)
CTxOut(empty)
CTxOut(nValue=17.87, scriptPubKey=038fedf1b4eea01c04800d99332b7a87078589dc4ae60e5d8b1888a73ef99ef8ae OP_CHECKSIG)
CTxOut(nValue=17.888706, scriptPubKey=038fedf1b4eea01c04800d99332b7a87078589dc4ae60e5d8b1888a73ef99ef8ae OP_CHECKSIG)

Inputs:
SewW3jcTbNzac95t34bSkY17uhUtVGUHSQ Amount=35.75 SLM IsMine=true


Why is this so?

[qiuxiang]

Our old thread is good, why do we start a new one?

[ynyjl]

日期：2014/6/24 04:01
支出0.00 SLM
网络金额： -35.75 SLM
交易ID： 80b095668bbdacb189ad17840b3ca8c3593dcc30b108680394b478fd21058762

Staked coins must wait 520 blocks before they can return to balance and be spent. When you generated this proof-of-stake block, it was broadcast to the network to be added to the block chain. If it fails to get into the chain, it will change to "not accepted" and not be a valid stake. This may occasionally happen if another node generates a proof-of-stake block within a few seconds of yours.



Debug information

Debit: -35.75 SLM
Credit: 17.87 SLM
Credit: 17.888706 SLM

Transaction:
Coinstake(hash=80b095668b, nTime=1403553689, ver=1, vin.size=1, vout.size=3, nLockTime=0)
CTxIn(COutPoint(c407e004fccddea197df44db35567b30625114b6436c020230d895697de02c15, 0), scriptSig=3046022100c2284ea417a9a1)
CTxOut(empty)
CTxOut(nValue=17.87, scriptPubKey=038fedf1b4eea01c04800d99332b7a87078589dc4ae60e5d8b1888a73ef99ef8ae OP_CHECKSIG)
CTxOut(nValue=17.888706, scriptPubKey=038fedf1b4eea01c04800d99332b7a87078589dc4ae60e5d8b1888a73ef99ef8ae OP_CHECKSIG)

Inputs:
SewW3jcTbNzac95t34bSkY17uhUtVGUHSQ Amount=35.75 SLM IsMine=true


Why is this so?

17.87+17.888706~=35.75

[idad01]

Need to restart the 15,935 it?
If it is, I will suspend my miner!

[Cashmenwa]

Our old thread is good, why do we start a new one?

Avoid mistakes
Better communication
So start a new one

[lonelygirl]

I do not understand this kind of "relaunch". 18K blocks mined already.

this is a shit coin, relaunch is just attract people.

[lonelygirl]

Our old thread is good, why do we start a new one?

Avoid mistakes
Better communication
So start a new one

maybe the dev want to hide something.

[kentwo]

how about the old thead？

[heibitchi]

Relaunch from 0 block?

[jadefalke]

Relaunch from 0 block?

no the Relaunch was after block 15935