[ANN][XCN] Cryptonite | 1st mini-blockchain coin | M7 PoW | No Premine

[Skarfur]

What about Electrum.

Would it be possible to adapt the miniblockchain to the Electrum server/client structure?

[1715322025]

1715322025

[1715322025]

1715322025

[1715322025]

1715322025

[bitfreak!]

What about Electrum.

Would it be possible to adapt the miniblockchain to the Electrum server/client structure?

Yes that should be a fairly easy task. We could also implement a SPV client similar to the MultiBit client so it wouldn't have to rely on a 3rd party server like Electrum. Since new nodes only need to download the last 10k blocks to sync with the network I don't see much need for a SPV client, but for those people who don't want to wait any length of time downloading the blockchain it could be a good option. Of course the node would still need to download the header chain and possibly the account tree, but that should take only a few minutes The account tree can be verified simply by comparing its master hash against the master hash in the block headers. If SPV nodes have a copy of the account tree they will even be able to check the balance of any address in the network.

[bitfreak!]

As long as the merchant can get the transaction they received from the customer into a block before that amount of time, the merchant is guaranteed to get paid.

This means that merchants are going to want to have an agreement with large miners (ideally 100% of hash rate) to ensure their transactions get into a block before the deadline.

Yes that's the contract idea I briefly mentioned. Some people think contracts may be necessary to create truly secure 0-conf transactions but I personally think the best approach is just to make sure that pools always give older tx's a higher priority, especially when dealing with a bunch of tx's which use the same input address, and discourage people from using pools which don't follow those rules. Most people tend to use a vanilla daemon anyway so if we can make the protocol rules good enough regarding the priority of older tx's then I believe we wont even need to use contracts.

[shadowmoon]

Hello to all Cryptonite community.
 We will be accepting it as payment in our shop http://bitscoinshop.com.br/en/
For currencies not yet have integration with CoinPayments, follow the instructions below for manual purchase.

These altcoins still lack integration with our payment platform because it uses coin payments Them to follow the instructions below.

1 - Select your product and Typically perform the registration on the site.

2 - Choose the way of payment via bank deposit.

3 - Leave us a message que you want to pay using one of the coins above it.

4 - After que send the value of your purchase already in the currency chosen and the address of our wallet.

5 - After the payment confirmation we will start the shipping of your product.

And now we bring more innovation, we are a paypal verified shop and we are accepting credit cards and parceling purchases at 6x via paypal.

[bitfreak!]

Hello to all Cryptonite community.
 We will be accepting it as payment in our shop http://bitscoinshop.com.br/en/
For currencies not yet have integration with CoinPayments, follow the instructions below for manual purchase.

Awesome, I have added your shop link to our list of services. It would be really cool if a service like CoinPayments.net could accept XCN because that would help other shops easily accept it too.

[shadowmoon]

Hello to all Cryptonite community.
 We will be accepting it as payment in our shop http://bitscoinshop.com.br/en/
For currencies not yet have integration with CoinPayments, follow the instructions below for manual purchase.

Awesome, I have added your shop link to our list of services. It would be really cool if a service like CoinPayments.net could accept XCN because that would help other shops easily accept it too.

I would advise to contact them, so I know the two forms to be accepted in coinpayments by vote and direct statement.
Every 2 months they make the inclusion of a coin.

[bitfreak!]

The Beyond Bitcoin discussion on Cryptonite was recorded today, it should be published some time next week.

Keep an eye on: http://letstalkbitcoin.com/blog/category/beyond-bitcoin

[darkota]

This coin should have really gone with btcd's supernet or have its own coinjoin anonymity

As I mentioned a page or two ago, the CoinShuffle protocol is compatible with the MBC Scheme, and at some point we will start focusing on anonymity features, but it's not a high priority for us right now. The anonymity scheme proposed by the supernet people just wasn't convincing to me and many other people felt the same way, so I'd rather play it safe until they have proven the supernet can work as they claim.

That's how you gain exposure in the crypto world. It would of been better to go with Supernet, if at least all it did was put Cryptonote(XCN) out in the open.(Many altcoiners don't know it exists.

[Jungian]

The Beyond Bitcoin discussion on Cryptonite was recorded today, it should be published some time next week.

Keep an eye on: http://letstalkbitcoin.com/blog/category/beyond-bitcoin

Great! Spreading the news

[joelao95]

We need BitMore talks on the things here and there. 

[kalon]

The Beyond Bitcoin discussion on Cryptonite was recorded today, it should be published some time next week.

Great to hear you could make that happen. I look forward to checking it out.

[bitfreak!]

@joelao95: sorry I've been busy working on some other jobs, but I did just finish creating a basic APi for the block explorer. The changes have been committed to the github repo and I'll update our official block explorer shortly. Next job is to keep track of pruned blocks and add some useful charts to the block explorer. Then after that I'll bring my attention back to the web wallet. Meanwhile catia should be working on optimizing slice sharing and then move onto bug fixing. Another important feature we still need to add at some point is the prune/purge command which will let users delete old blocks from disk without having to resync or restart the client.

[Coin-Moron]

How many coins are mined everyday? Can someone?

[bitfreak!]

How many coins are mined everyday? Can someone?

Current block reward is about 239.46 XCN. At 1 block per minute that's about 345k XCN per day (239.46×60×24).

[Coin-Moron]

Its around 2 btc that needed to be injected everyday to keep up the price and its something very difficult with the present scenario.
The mini-blockchain concept is really cool and thats what we need when cryptonite's been very widely accepted and dealt.

[Jungian]

Its around 2 btc that needed to be injected everyday to keep up the price and its something very difficult with the present scenario.
The mini-blockchain concept is really cool and thats what we need when cryptonite's been very widely accepted and dealt.

Well, that's if every mined coin is sold. I think most ppl who mine this at the moment are "belivers" in the coin who hold at the moment.

[yonghongtang]

Its around 2 btc that needed to be injected everyday to keep up the price and its something very difficult with the present scenario.
The mini-blockchain concept is really cool and thats what we need when cryptonite's been very widely accepted and dealt.

Well, that's if every mined coin is sold. I think most ppl who mine this at the moment are "belivers" in the coin who hold at the moment.

I think so . More developments will be better.

[kalon]

I notice there are several Cryptonite pools now, but I wonder if it's possible to configure Cryptonite to work with p2pool. This should be vastly better in terms of decentralization and it seems that Cryptonite has an advantage over Bitcoin in this regard since the blockchain needed is so much easier to work with.

Is anyone working on this? I'd look to see Cryptonite move in this direction early on.

[bitfreak!]

@kalon: catia made a comment on that issue a few pages back:

Has anyone considered a p2pool approach to decentralizing the mining? Because it would seem that the vast majority of people are mining on 1gh

p2pool is much harder on miniblockchain. Allowing the txset to be modified requires that nodes have a copy of the account trie in order to find the master hash corresponding to the txset. I suppose it could be done. Probably easiest way is to require the miner to be running the daemon and develop some rpc for processing hypothetical txset.

[argon1]

Hi-

What size would the trie be if it had as many accounts as bitcoin currently does?