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

[bitfreak!]

@chompyZ: the following quote is not quite true. I don't know exactly how the AT stuff works, but I highly doubt it's compatible with the mini-blockchain system because we don't have any scripting capabilities, let alone Turing complete scripting.

What it does is basically the same as Ethereum *except* that AT has been designed to be added to *any blockchain system*.

[iCEBREAKER]

@chompyZ: the following quote is not quite true. I don't know exactly how the AT stuff works, but I highly doubt it's compatible with the mini-blockchain system because we don't have any scripting capabilities, let alone Turing complete scripting.

What it does is basically the same as Ethereum *except* that AT has been designed to be added to *any blockchain system*.

This stuff is largely over my head, but I think the point of AT is to create the glue that can bind the features of XCN to script-capable coins like XCH.

[xyzzyx]

AT specifies a virtual machine that can read and write data to the blockchain of which it is connected.  It's pretty simple conceptually.

[iCEBREAKER]

AT specifies a virtual machine that can read and write data to the blockchain of which it is connected.  It's pretty simple conceptually.

Yes, "a virtual machine that can read and write data to the blockchain of which it is connected" is pretty simple. 

It's magic.   

[bitfreak!]

Ok I have finally finished a job I was doing for a client, so now I should have much more time to work on Cryptonite stuff. One good idea I have is to add XCN support to my BitShop script so that all existing shops using my script can sell products for XCN. I will ask an altcoin payment gateway such as coinpayments.net to accept XCN and in return I will add support for their gateway to BitShop, which will bring them a lot of new users. That way I can create a fairly good marketplace around XCN quite quickly.

AT specifies a virtual machine that can read and write data to the blockchain of which it is connected.  It's pretty simple conceptually.

Yes, "a virtual machine that can read and write data to the blockchain of which it is connected" is pretty simple.  

It's magic.  

But the question I have is how does it store that data in the blockchain? I'm guessing it must use normal tx's which use scripts, which clearly cannot work with Cryptonite. If it's just storing extra arbitrary data in the blockchain then it may be possible. We have a message field attached to all transactions so we may be able to use that, but I believe the length of the message field is limited to 64 characters so the AT programs would be limited in length.

EDIT: just did some brief reading on AT and it seems to me like it would require rather large changes and extensions to our protocol. It would also require extra data related to the execution states of AT's to be stored in each block and it's highly problematic to prune old AT data. It seems like a fairly complicated and bulky system which would hurt the ultra scalable system that we have now.

[bobster]

Hi guys, my name is Bobby and I'm the co-founder of CoinGecko.

We recently added Cryptonite to our ranking website. Here's the coin info page of Cryptonite.
The addition also means that you can now check Cryptonite prices here. (You may select different fiat currency and timeframe too)
We also have price ticker widget of Cryptonite that can be embedded on your website/blog.

Let us know what you think of this addition. Feel free to PM me with your thoughts. Thank you!

[enerbyte]

Hi guys, my name is Bobby and I'm the co-founder of CoinGecko.

We recently added Cryptonite to our ranking website. Here's the coin info page of Cryptonite.
The addition also means that you can now check Cryptonite prices here. (You may select different fiat currency and timeframe too)
We also have price ticker widget of Cryptonite that can be embedded on your website/blog.

Let us know what you think of this addition. Feel free to PM me with your thoughts. Thank you!

Great news!
Thanks for this.

[kalon]

Let us know what you think of this addition. Feel free to PM me with your thoughts. Thank you!

Haven't check that site out before. I quite like it and the way you have all the metrics broken down.
Not sure it would make a bit jump in ranking, but it make me think that a Cryptonite Facebook page might boost visibility.

[cryptoptic]

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. 

I have quite a different experience. Twice I've put xcn on a computer and sent coins as it was installing and updating.

Both times the download of the full blockchain was about 10 minutes and processing it another 10 minutes or so and both times the coins arrived as fast as it updated.

I'm in Hawaii and using a mobile hotspot so the vast majority of people probably have a much faster download even.

There is no question the miniblockchain or some variation will be the norm soon.

[ltcnim]

I open my wallet only maybe once a week, but it's syncing pretty fast, can't complain about the speed here.

[Raxin]

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

I'm new to XCN. I downloaded the wallet this morning, but now it's stuck on being eight days behind, after leaving it open all day. I'm using win64_cryptonite-qt_14091021.exe.

What am I doing wrong?

Thanks.

[bitfreak!]

I open my wallet only maybe once a week, but it's syncing pretty fast, can't complain about the speed here.

Like I said, unless you wait several weeks you wont really notice any advantage. Syncing once per week is the same as syncing once per day overall because you're not skipping any blocks unless you wait more than a week. If you wait more than a week before resyncing that's when you will see a difference because it will only download the last 10k blocks. Stay offline for 10 years and try to sync and it will still only download the last 10k blocks (and account tree), but that doesn't mean it's missing any data, it can still be a full node and do anything a full node can do because of the way the account tree summarizes the entire state of all addresses and since transactions become instantly spent when applied to the account tree.

[bitfreak!]

I'm new to XCN. I downloaded the wallet this morning, but now it's stuck on being eight days behind, after leaving it open all day. I'm using win64_cryptonite-qt_14091021.exe.

Try running -resync and adding the nodes listed below. If all else fails then sync using cryptonited and then once fully synced switch to cryptonite-qt. For some reason the sync process in Qt seems to be a bit buggy, especially on Windows.

47.55.147.150:8253
174.6.46.186:8253
66.45.239.67:8253
217.129.141.209:8253

[smooth]

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.

Bitcoin should have many more transactions though, and that's where most of the work of validating should be.

Figuring this out would likely require some profiling but it sounds to me like something about Cryptnite is bogging down a bit here.

[bitfreak!]

Bitcoin should have many more transactions though, and that's where most of the work of validating should be.

Figuring this out would likely require some profiling but it sounds to me like something about Cryptnite is bogging down a bit here.

Well I believe the blocks are downloaded and validated in a simultaneous fashion, so it's not quite that simple. I think it's mainly just because there are faster Bitcoin seed nodes which allow the blockchain to be downloaded at very fast speeds but there are several different factors playing a role.

[dogsAloud]

To bitfreak, I would like to say a sincere thank you for this contribution.  It seems to me the bitcoin community may have rushed to work on 2.0 apps before work was finished on a solid 1.0 money app.  A digital money that can scale to global use by billions of people (isn't that the goal?)... and IMO money is THE killer app in this space.  So thank you, bitfreak, for having your priorities straight!  Also, I still just don't trust PoS systems. After all, that's exactly what the Federal Reserve banking cartel is... a PoS system.

I'm running on an Arch Linux system, so I got the source code from GitHub and built it.  So far, cryptonite-qt seems to be running like a champ, it synced to the network very quickly (as compared to my experience with bitcoin-qt).  I even ran it with setgenerate turned on for about 16 hours with all four of my laptops CPUs cranking... but of course I didn't get any blocks.  I aquired some XCN on BTER to try out the wallet, but I want to ask a question first.

When running the configure step of the build, I got a warning about my Berkeley DB embedded database system version.  In fact, I had to rerun configure with the flag "--with-incompatible-bdb".  The build wants version 4.8, but on my system I have version 5.3.28-2.  How important is this?  Do I need to go to the trouble of rolling back my Berkeley DB to the older version?

Finally, I would like to offer to help out.  Is the BTC address on page one of this thread still valid for contributions?  I'll send what I can.  Also, I have about 18,000 LTB coin I am willing to donate if you find that useful (to go toward a sponsor token or for some other purpose).  Do you think it would be useful to repeat the XCN announcement on the LTB community forum to raise awareness?  I really want to see this succeed.

[bitfreak!]

When running the configure step of the build, I got a warning about my Berkeley DB embedded database system version.  In fact, I had to rerun configure with the flag "--with-incompatible-bdb".  The build wants version 4.8, but on my system I have version 5.3.28-2.  How important is this?  Do I need to go to the trouble of rolling back my Berkeley DB to the older version?

I believe 5.3 should work, give it a try and see. But to be on the safe side you should build with 4.8.

Finally, I would like to offer to help out.  Is the BTC address on page one of this thread still valid for contributions?  I'll send what I can.  Also, I have about 18,000 LTB coin I am willing to donate if you find that useful (to go toward a sponsor token or for some other purpose).

You can donate to either of these addresses:
XCN: CcFE7EWRuBVe4FrJoVJyEeW5GvZZ4spNqN
BTC: 15XvdRtPpon1wxx4SeNbR4WZtU5mdE8A5S

Do you think it would be useful to repeat the XCN announcement on the LTB community forum to raise awareness?  I really want to see this succeed.

I'm hesitant to repost the XCN announcement on other forums because I don't have the time to keep track of multiple Cryptonite threads on different websites. I'd rather most discussion was kept to this thread until I create our own official forum. But if you want to repost the XCN announcement in other places don't let me stop you.

[AizenSou]

You can donate to either of these addresses:
XCN: CcFE7EWRuBVe4FrJoVJyEeW5GvZZ4spNqN

Sent my donation to bitfreak. Still mining your coin like no tomorrow. This is the only reason for me to keep my farm running at a loss now.
Txid: 2b2cf389054e17ae7837d68d0e40c9a7ecd7187239bfe786357239c4f8b1cc38

[mikenz]

All Alts are down because of BTC crashing. Contrary to 99.9% of Alt(shit)coins out there, XCN will always own great fundamentals. Im not concerned at all and will buy more soon for sure.

[blahcoin]

All Alts are down because of BTC crashing. Contrary to 99.9% of Alt(shit)coins out there, XCN will always own great fundamentals. Im not concerned at all and will buy more soon for sure.

People are slow to learn or quick to forget. The Russkies are doing exactly what the Chinese did. In a few days or so news from russia will tank the bitcoin market, russian exchanges will mysteriously end up with a huge increase in physical control of bitcoin.

Actually looks like govts conspiring to distribute bitcoin among the 3 major poles.

http://abcnews.go.com/Business/story?id=7168919