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

[bitfreak!]

For example, Counterparty has an in-built decentralized exchange which uses the Order Message. These messages could be offloaded to an MBC side-chain for fast order matching. Periodically, the results of the trades on the side-chain could still be embedded in the Bitcoin Blockchain like they are currently doing.

Again, I need to stress that I am talking about using both the Bitcoin Blockchain and an MBC at the same time to complement each other. The MBC would ephemerally store recent data and offload the balance of this data back to the Bitcoin Blockchain.

Ok that makes it much clearer for me. The account tree structure is particularly useful for acting as a dynamic balance sheet as it does in Cryptonite, and if you need to store that type of data in a decentralized way then a MBC type of scheme is probably a good approach. I'll listen to that Beyond Bitcoin discussion you linked to when I have some time and learn more about Counterparty.

[CasualSam]

Yep you got it exactly. Haven't thought about implications of accounts with same pubkeyhash. Anyway it is nothing revolutionary but still pretty neat I reckon

Well having human readable addresses is actually a pretty big problem in cryptocurrency and the solution you suggested is workable, so I agree it's pretty neat. Maybe if we had thought of that solution back when we were thinking about this issue we would have implemented it, but the changes necessary to make it work are too extensive to apply them now.

I think you could almost almost implement it without forking, but obviously all nodes would need to be updated before it could be used.

Otherwise I'll have to add it to my spacebucks research coin

[Equality 7-2521]

For example, Counterparty has an in-built decentralized exchange which uses the Order Message. These messages could be offloaded to an MBC side-chain for fast order matching. Periodically, the results of the trades on the side-chain could still be embedded in the Bitcoin Blockchain like they are currently doing.

Again, I need to stress that I am talking about using both the Bitcoin Blockchain and an MBC at the same time to complement each other. The MBC would ephemerally store recent data and offload the balance of this data back to the Bitcoin Blockchain.

Ok that makes it much clearer for me. The account tree structure is particularly useful for acting as a dynamic balance sheet as it does in Cryptonite, and if you need to store that type of data in a decentralized way then a MBC type of scheme is probably a good approach. I'll listen to that Beyond Bitcoin discussion you linked to when I have some time and learn more about Counterparty.

Great! That's what I was thinking. In hindsight, that particular interview doesn't discuss the fundamentals of the Counterparty Protocol enough. This episode of Lets Talk Bitcoin might be a better on-ramp - http://letstalkbitcoin.com/blog/post/ltb109-the-ideal-counterparty.

It would be really great to see that example of an MBC enabling a faster and more efficient (less Bitcoin Blockchain bloat) decentralized exchange/market side-chain!

I'll give you a chance to think about some of this. I'll re-iterate that the Counterparty Devs are great guys and really approachable, as you also seem to be, so I think you guys could have some great conversations. Drop me a PM when you're ready to chat.

[iCEBREAKER]

aliased account names
...
Domain aliased accounts

A domain alias is a domain name you own that you use as your cryptonite address. Bitfreak owns bitfreak.info so he could use xcn:bitfreak.info as his cryptonite address.

I like both ideas, although the domain aliasing seems like a (minor) PITA.  The Namecoins I spend landgrabbing and squatting on .bit domains never turned a profit, but human-friendly vanity addresses are still very popular with the kids nowadays.   

Since Namecoin is merge-mined with BTC and thus very secure and more decentralized than (higher barrier to entry) ICANN DNS, perhaps we should just register one .bit address to store/resolve all of our various coin addresses?  EG [btc/ltc/xpm/xmr/bbr/xdn/via/xcn]:bitfreak.bit

The land-grab (but not cybersquatting) may be curtailed by only allowing block solvers to register aliases.  BBR uses this constraint and limits alias creation to one per block, which also creates an additional incentive to solo mine.  OTOH, pools could create an additional revenue (and dev donation) stream by offering alias registration services via flat-rate, priority, or auction based pricing mechanisms.

[iCEBREAKER]

Beyond Bitcoin interview with Bitfeak is out!
http://letstalkbitcoin.com/blog/post/beyond-bitcoin-18-cryptonite

 Bitfreak, great job of explaining the features and benefits of the system! I hope everyone takes the time to check it out.  

I gave it a listen; great job BF.  Nice to hear the voice behind the coin, and especially delightful to discover BF is a fellow Discordian (FNORD)!   

The fascinating (Hidden Troll Chain Surprise) attack vector vs scalability trade-off discussion prompts me ask about the applicability/possibility/priority of incorporating Monero's advanced new checkpointing techniques into XCN.

Distributed democratic polymorphic blob-based hybrid checkpointing sounds like exactly the kind of BCX-TimeWarp-defeating Gallifreyan alien tech I expect to see in XCN.   

[bitfreak!]

I gave it a listen; great job BF.  Nice to hear the voice behind the coin, and especially delightful to discover BF is a fellow Discordian (FNORD)!  

Lol yeah I was expecting him to edit out that first part of the convo but I'm glad he didn't, everyone should read Principia Discordia.

The fascinating (Hidden Troll Chain Surprise) attack vector vs scalability trade-off discussion prompts me ask about the applicability/possibility/priority of incorporating Monero's advanced new checkpointing techniques into XCN.

I did mention "community checkpoints" some where near the end of the discussion. Where can I read more about this Monero checkpointing?

[iCEBREAKER]

Where can I read more about this Monero checkpointing?

https://github.com/monero-project/bitmonero/commits/master?page=3

https://twitter.com/monerocurrency/status/519850497323196418

MoneroPulse: a loosely distributed checkpoint alert system. Normal nodes occasionally check and warn, but you can also force the right fork

https://bitcointalk.org/index.php?topic=583449.msg9109547;topicseen#msg9109547

The addition of MoneroPulse, a loosely distributed checkpoint alert system. MoneroPulse will allow us to add both block hash checkpoints and blob hash checkpoints (to defeat attacks like the Block 202612 attack). For ordinary nodes that are checked at least occasionally, the daemon will notify you in angry red letters when your local chain doesn't meet a checkpoint. If you run an unattended node (merchant systems, pools, etc.) you will want to turn on the "--enforce-dns-checkpointing" flag so that these checkpoints are enforced and not merely notified.

https://bitcointalk.org/index.php?topic=583449.msg9190733#msg9190733

support for long / blob hash checkpointing on both the file and DNS side.
...
Core: DNS checkpointing is now asynchronous, and doesn't prevent blocks from being received (in testing)

Core: file and DNS checkpoints now also support blob hash (longhash) checkpointing (in testing)

These steps were the result of BCX the evil supervillain forcing evolution through a threatened Timewarp attack.

[bitfreak!]

These steps were the result of BCX the evil supervillain forcing evolution through a threatened Timewarp attack.

Well I'm not sure what they mean when they say "a loosely distributed checkpoint alert system" but I'm guessing it's some sort of decentralized checkpoint system, which might be a plausible solution to the Secret Chain Attack. We could release a new checkpoint hash each week but then users would have to trust our decision about which chain is the right one and that could introduce an unwanted level of centralization, which is why a decentralized or "distributed checkpoint alert system" could be an interesting solution. But when they say "loosely distributed" it gives me the impression there's still some level of centralization in the Monero checkpoint alert system. There doesn't seem to be a whole lot of technical information on how it works.

[UberMakedonische]

I just listen the  interview on the Beyond Bitcoin. Very good job bitfreak.

[digiClone1]

Beyond Bitcoin interview with Bitfeak is out!
http://letstalkbitcoin.com/blog/post/beyond-bitcoin-18-cryptonite

 Bitfreak, great job of explaining the features and benefits of the system! I hope everyone takes the time to check it out.  

Yeah I thought the interview went quite well. There are a few interesting bits cut out of the published version but overall I think Arthur did a good job of editing and cutting out the irrelevant parts. I should also amend one incorrect comment I made near the end of the discussion. I said the maximum transaction rate for bitcoin is 7 tx's per block which is obviously too low, it's 7 tx's per second.

extremly good interview. very informative! make sure to put it on the main page so everyone can see it!

Tweeted this -

https://twitter.com/Kolin_Quark/status/522714382812196864

- I think you left out a key opportunity to educate the interviewer around the economics and how your m7 algo should inspire a better distribution due to a resistance against monopoly -

awesome educational pod cast

- also lol at interviewer saying "anon" is "popular" if you take into account a rigged market sure, this  freshly done dog turd is both popular and anon as well -

lets see a "Popular" Anon crypto that is distributed with a known , common CPoW algo - ha ha.  

this market is very "talking candy from baby" like, sometimes.

[appbox]

Asia node for chinese users (many friends of mine cant sync):

Code:

addnode=xcn.uuzcloud.com

[kalon]

Was promoting Cryptonite in an Alt-coin forum I share with some friends the other day. Some interest though I got a fairly quick comment about the README.md file on the github page being just stock Bitcoin's.

Perhaps this is a small thing would could be fixed easily to convey more relevant information to newcomers and lend extra credibility as well.

I'm sure there are people better suited to this but I can have a go of it as I have more time.

[jwinterm]

Was promoting Cryptonite in an Alt-coin forum I share with some friends the other day. Some interest though I got a fairly quick comment about the README.md file on the github page being just stock Bitcoin's.

Perhaps this is a small thing would could be fixed easily to convey more relevant information to newcomers and lend extra credibility as well.

I'm sure there are people better suited to this but I can have a go of it as I have more time.

semi-related, the icon in the windows 7 tray notification area icons (Control Panel\All Control Panel Items\Notification Area Icons) says "Bitcoin Core (OSS GUI for Bitcoin)"

[argon1]

I let my Bitcoin wallet and Cryptonite wallet get out of sync by eight days. I then started them both at the same time to see which would finish syncing first.
I was expecting Bitcoin to lose badly.
Bitcoin won by six minutes. 

[Jungian]

I let my Bitcoin wallet and Cryptonite wallet get out of sync by eight days. I then started them both at the same time to see which would finish syncing first.
I was expecting Bitcoin to lose badly.
Bitcoin won by six minutes. 

Why? There are thousands of full BTC nodes.

My XCN wallet syncs up very fast though

[bitfreak!]

I let my Bitcoin wallet and Cryptonite wallet get out of sync by eight days. I then started them both at the same time to see which would finish syncing first.
I was expecting Bitcoin to lose badly.
Bitcoin won by six minutes.  

Well in that case there isn't much difference between what they need to do. If you wait like a few weeks then Cryptonite should definitely win, because Cryptonite will only attempt to download the last 10k blocks, but Bitcoin will attempt to download every block it has missed. Bitcoin may have been faster in your test simply because there are more bitcoin seed nodes or because Cryptonite lost a few minutes downloading the trie.

EDIT: actually it's also very important to remember that Cryptonite has a block rate of 1 per minute where as Bitcoin is 1 every 10 minutes, and that's probably why Bitcoin won in your test, because there were less blocks to download. But like I said Cryptonite will still win if you wait a few weeks and run the same test because Cryptonite only needs to download the last 10k blocks regardless of how long you stay offline.

[e6ug]

xcn wins every time! this coin is the only reason i haven't sold my gpu's.

[ltcnim]

the features are very good, so all we need is an experienced promoter for this coin. XCN looks so nice with the mini-blockchain, it would even work perfectly on a mobile device because of that.

[chompyZ]

Just a pointer to something that on the surface seems very interesting.
Would love to hear your thoughts.

https://bitcointalk.org/index.php?topic=822100.0

[iCEBREAKER]

Just a pointer to something that on the surface seems very interesting.
Would love to hear your thoughts.

https://bitcointalk.org/index.php?topic=822100.0

TYVM for the link.  This looks very interesting, like SuperNet and XC's Blocknet/XBridge, but without all their disconcerting Ponziesque shuck and jive.

Now we may combine the smart contract services available in Clearinghouse (XCH) with the zero confirmation abilities of XCN to create killer Holy Grail applications like decentralized, trustless online casinos/poker tournaments and prediction markets!

XCH might not even be required, if this AT example is applicable:

http://ciyam.org/at/at_lottery.html