[ANN] RootCoin [ROOT] - rootEX™ announced - ANON-tx using BitKey™- PoW/PoS/PoI

[bitsta]

rootcoin.co

NEW THREAD: https://bitcointalk.org/index.php?topic=911742

dev-progress: 2016:  new dev team to be announced

dev-progress: Fri 02/01/2015:  New droid-app going online shortly - thanks to Youplab!

dev-progress: Tue 30/12/2014:  librootcoin released - special thanks to S4n!

dev-progress: Mon 22/12/2014:  Ostabiz & Youplab are now part of the dev-team!

dev-progress: sun 21/12/2014: rootcoin.co new website online. check it out!

Richlist
https://chainz.cryptoid.info/root/#!rich

Blockexplorer
https://chainz.cryptoid.info/root/
http://explorah.net/root/
http://root.explorer.ssdpool.com:9083/

TEAM
Collegestudent: community-manager & special supporter
Youplab: CO-DEV
Ostabiz: CO-DEV
CECVW: special supporter
enunrom: special supporter

Pools
[PoW is over!]

ROOT burn-address: R9HC5WtHbpoa51NCUAz86XLCmGTbkf45NT

Wallet/Source v2.0
| | | |

sample config-file:

Code:

rpcuser=username
rpcpassword=password
listen=1
server=1
rpcallowip=localhost
addnode=192.99.223.96
addnode=198.23.160.13
addnode=212.91.189.164
addnode=195.34.100.2
addnode=94.156.237.70

Exchanges






https://bter.com/voting#ROOT

https://cryptoine.com/voting#ROOT

https://askcoin.net/votes

Services
http://coinmarketcap.com/currencies/rootcoin/
http://whatmine.com/coin/913/-
https://myaltcoins.com/

Translations
         

roadmap for end 2014 - jan 2015

#RootCoin v2.0 changelog: gui-tweaks and extension of functionality  (TBA)
#RootCoin v3.0 changelog: integrated mixing functionality and minimization
of tx-fee.
#BitKey v2 changelog: extended communication layer and rootEX-integration
for absolute anonymity.

I am announcing my cryptocurrency project named "RootCoin" [ROOT]. This is just an (my) economic/technical project/experiment. 
Please inform yourself about cryptocurrencies and their risks before making any investment (money, time, hashingpower,..).
All sales are final!

RootCoin is in final development stage. This is my first own cryptocurrency-project and
i am going to do this as a fulltimeproject by myself. I ve been involved in a couple of altcoins and
also did/am doing a lot of contract based work within the cryptocommunity.

IRC: #rootcoin
Chinese QQ Group: 310988665 


RootCoin will be an oldschool scrypt PoW/PoS/PoI coin with a 4-stage-distribution model: 

Stage 1: Proof of Investment (Initial coin offering  -> crowd fund)
Stage 2: pure PoW -> first 10 days will be pure PoW
Stage 3: hybrid PoW/PoS -> 2 weeks will be a hybrid PoW/PoS stage
Stage 4: 10+ PoS  -> after that the PoS system will be generating blocks for +10 years (total of 68,950 ROOT will be generated with PoS in first year)


Specifications:
algorithm: scrypt (community voting)
blockreward: 99 ROOT
total coins: 3 million coins
blocktime: 5 minutes
PoS reward: 3%
rpcport: 27377
p2pport:28388
qrcode support
POW-CUTOFF: block 3700

+100 blocks were instamined at the offical pool.
about 380 blocks were instamined through solominers AFTER launch
and before the official pool started hashing. thats a total of 38k ROOT. 
The codebase of ROOT was fork from another scrypt-coin
and the GetNextTargetRequired(), the function which settles the difficully,
reset the first 450 blocks with the starting diff. leading the first 450 blocks
to be mined superfast. - as this was topic for some FUD/troll posts, i just
added it to the OP to make it public. 

ROOTCOIN-distribution

The final specification is: 53% ICO, 12.21% PoW and 34.79% PoS

Launch: On the launchdate ROOT will be ready with wallets for OSX, LINUX, WINDOWS. ANDROID coming soon.
Blockexplorer and official mining-pool will also be provided at launch.

economical feature: BurnPool™
BurnPool™ will be a new kind of multipool. Users will be able to choose between two mining-options.
First option will be payout in RootCoins. Second and NEW option will be to multimine RootCoins
which get "burned" automatically by transferring them to an "proofen unspendable" public-key. 
So with this step coins get burned, the coincap minimized and the value higher. 
 

BOUNTIES:
Translations: 0.01 BTC per translation (translation has to meet our basic requirements)
baby222 - chinese
Yza_azY - italian
majningmaster - french
majningmaster - polish

Articles: 0.02 BTC per article (article has to meet our basic requirements)


future plans: 
TBA

[KeyserSozeMC]

Reading

Could TxID's be provided for more transparency? I believe you'll be able to complete the entire IPO if people see transparency.

Good luck!

[baby222]

you have good plan for this coin....

[bitsta]

you have good plan for this coin....

of course...

[UGETHIT]

Would you consider going with the fresh algo?  Is that possible because I like how cool it ran.

[bathrobehero]

SHA256 OR SCRYPT?

Self moderated.

[trdiablo]

Interesting

[hash77away]

Would you consider going with the fresh algo?  Is that possible because I like how cool it ran.

+1, or NIST5

[bitsta]

SHA256 OR SCRYPT?

Self moderated.

sure.

sick of shitty posts.. and def. not going to put loads of work into something i am not able to protect like i want
to protect.

[TrollboxChamp]

PM sent

[UGETHIT]

Would you consider going with the fresh algo?  Is that possible because I like how cool it ran.

+1, or NIST5

Nist5 is hotter than a 3 peckered  billygoat hehe.

[TrollboxChamp]

I think sha-256 produces a smaller community than more CPU/GPU friendly algos.

I'm Glad to invest in a fresh coin with a solid dev.

[bitsta]

I think sha-256 produces a smaller community than more CPU/GPU friendly algos.

I'm Glad to invest in a fresh coin with a solid dev.

thanks for the feedback. i ll count one vote towards scrypt for you.

(or do you evtl. prefer x11/x13??)

[TrollboxChamp]

Scrypt sounds good to me!

[t95]

BitKey™ is going to be an secondary channel for transactions. The idea behind it is that an anoymous transaction
won't be an transaction which is traceable through the blockchain. Example: you want to transfer 100 ROOT from A to B.
Client A will automatically transfer the coins to an public address and then send it's encrypted private key with the
100 ROOTs to client B. Finally client B will have received the coins from client A without making an real transaction.
Users will be "identified" through a public key and a boradcasted RootCash-index with all clients/keys.

There's one thing I don't understand: Who chooses to which public address the coins are sent? How can you assure (or can you even assure) that client B is the only one who has the private key of this address. Because if not, client B would have to transfer the coins to a new address to make sure they really "belong to him" and therefore transaction fees would be charged two times. Please correct me if I'm wrong.

[bitsta]

BitKey™ is going to be an secondary channel for transactions. The idea behind it is that an anoymous transaction
won't be an transaction which is traceable through the blockchain. Example: you want to transfer 100 ROOT from A to B.
Client A will automatically transfer the coins to an public address and then send it's encrypted private key with the
100 ROOTs to client B. Finally client B will have received the coins from client A without making an real transaction.
Users will be "identified" through a public key and a boradcasted RootCash-index with all clients/keys.

There's one thing I don't understand: Who chooses to which public address the coins are sent? How can you assure (or can you even assure) that client B is the only one who has the private key of this address. Because if not, client B would have to transfer the coins to a new address to make sure they really "belong to him" and therefore transaction fees would be charged two times. Please correct me if I'm wrong.

please read the whitepaper as it explains the tx-mechanism which is used here more detailed.
(there are NO tx-fees used for BitKey-transactions)

to your question regarding the public key redundandce:
keep in mind that the BitKey-IDs of each client are representations of an secp256r ECDSA keypairs public key.
so there is no need to worry about somebody to generate the same priv-key. (with actual resource-limit not possible)

[bitsta]

Reading

Could TxID's be provided for more transparency? I believe you'll be able to complete the entire IPO if people see transparency.

Good luck!

yes of course!
the list you see are just reservations. i will post signed msg with BTC-addr for the initial distribution.
i ll also send it to every investor.

thank you!

cheers,
bitsta




#edit: added to OP

[provenceday]

watch this.

[infofront]

SHA or Scrypt? No thanks.

[stoneone]

SCRYPT is good