[ANN] SpreadCoin | True Decentralization (No Pools) | Testing New Masternodes

[sdelgit]

i7-3770K  4,6GHz

{
"blocks" : 8371,
"currentblocksize" : 1000,
"currentblocktx" : 0,
"difficulty" : 0.00675380,
"errors" : "",
"generate" : true,
"genproclimit" : -1,
"hashespersec" : 143708,
"networkhashps" : 1032704,
"pooledtx" : 0,
"testnet" : false
}

[A-tM]

Code:

CPU Haswell i5 3,2Ghz

22:11:55
?
{
"blocks" : 8365,
"currentblocksize" : 1000,
"currentblocktx" : 0,
"difficulty" : 0.00673692,
"errors" : "",
"generate" : true,
"genproclimit" : -1,
"hashespersec" : 121798,
"networkhashps" : 1012733,
"pooledtx" : 0,
"testnet" : false
}

CPU same as above

22:15:02
?
{
"blocks" : 8371,
"currentblocksize" : 1000,
"currentblocktx" : 0,
"difficulty" : 0.00675380,
"errors" : "",
"generate" : true,
"genproclimit" : -1,
"hashespersec" : 124004,
"networkhashps" : 1032704,
"pooledtx" : 0,
"testnet" : false
}


CPU i7 Ivy 3,6 Ghz

22:10:52
?
{
"blocks" : 8365,
"currentblocksize" : 1000,
"currentblocktx" : 0,
"difficulty" : 0.00673692,
"errors" : "",
"generate" : true,
"genproclimit" : -1,
"hashespersec" : 115811,
"networkhashps" : 1012733,
"pooledtx" : 0,
"testnet" : false
}

CPU same as above

22:15:49
?
{
"blocks" : 8372,
"currentblocksize" : 1000,
"currentblocktx" : 0,
"difficulty" : 0.00675469,
"errors" : "",
"generate" : true,
"genproclimit" : -1,
"hashespersec" : 115363,
"networkhashps" : 1013163,
"pooledtx" : 0,
"testnet" : false
}

EDIT: That were multiple results from the two different CPUs, I do not have two haswells and two Ivys

[A-tM]

EDIT: That were multiple results from the two different CPUs, I do not have two haswells and two Ivys

Anyway, hashing nicely.

So, should there be 1440 blocks each day?
Does it mean, during these few days, when block reward is approx. 6.65 SPR, there are minted approx. 9576 new coins a day?

And, if the reward is halving gradually (incidentally, what I appreciate much) each two years, it means right after first year had passed there will be 5 SPR block reward,
so during first year there will be minted 3,066,666 coins?
Am I right?

[Mr. Spread]

So, should there be 1440 blocks each day?
Does it mean, during these few days, when block reward is approx. 6.65 SPR, there are minted approx. 9576 new coins a day?

There are 1440 minutes per day, blocks are generated approximately every minute thus there are approximately 1440 blocks per day.

And, if the reward is halving gradually (incidentally, what I appreciate much) each two years, it means right after first year had passed there will be 5 SPR block reward,
so during first year there will be minted 3,066,666 coins?
Am I right?

It is halved every 4 years just like in Bitcoin. After first year (525600 blocks) reward will be 5.79066833 SPR, after two years (1051200 blocks) it will be 4.91466833 SPR. During the first year there will be 3'405'811 SPR.

EDIT: Here is comparison of Bitcoin (blue) and SpreadCoin (brown) rewards per block over time:


When looking at this graph keep in mind that SpreadCoin blocks are 10x faster and reward per block is 10x lower.

[zeca pagodinho]

Hello!
Could someone help a noob?
Wanted to know where or how to use these commands? 

options:
   -? This help message
   -conf = <file> Specify configuration file (default: spreadcoin.conf)
   -pid = <file> Specify pid file (default: spreadcoind.pid)
   -gen Generate coins (default: 0)
   -datadir = <dir> Specify the data directory
   -dbcache = <n> Set the size of the database cache in megabytes (default: 25)
   -timeout = <n> Specify the timeout (timeout) the connection in milliseconds (default: 5000)
....

Thanks in advance for your attention!

These are command line parameters.
Please create a shortcut for "spreadcoin-qt.exe".
Then edit the command line:

C:\ ... {Your path to wallet} \spreadcoin-qt.exe -gen

Then launch with this shortcut, and you will immediately see CPU usage top at 100%. Mining is on.

Regards,
Andy

Many thanks for your explanation! 

[A-tM]

Mr. Spread, can you explain what was going on in the first blocks?

block zero has 1 SPR generated, but
each of the next 2201 blocks has approx 66.66---- SPR generated.
The first blocks runs really fast, with high reward.

Mining began a few seconds earlier from 2014-07-29 11:01:16 when the first block was generated,
then first 200 blocks run with incredible speed just during less than 15 minutes.  2014-07-29 11:14:47 (diff 0.0016)
The next 200 blocks were created until 2014-07-29 12:05:58. (diff 0.0693)
only then the generation speed started to slow gradually.
so during first hour there was minted 26,666 coins.
Block 600 was generated much later, on 2014-07-31 at 03:58:26.

Until the fork at block 2202 there was minted approx 146,750 coins.
When taken as a whole, the number of coins minted in first 2201 blocks before the hard fork was done, the coin almost fits the specs -
2201 blocks between 2014-07-29 11:01:16 and 2014-08-11 18:03:03, which was 319 hours, 1 minute and 47 seconds, it should be around 1915 blocks.

But, somebody took great advantage until difficulty algorithm sets it right, and then, miners who joined later, were penalized, because the coin generation was slowered more, to compensate the initial speedup.

I am not trying to offend anyone here, as I do not know if it is even possible to avoid these initial fluctuations. I am just sharing what I have found.
Initially, it seems to me like (not so big) instamine, but with all these numbers the dev seems fair to me.

Maybe he will add some words to mine.

I wish nice hashing to everyone
What are the next plans with the coin?

Regards,
Andy

[gjhiggins]

Mr. Spread, can you explain what was going on in the first blocks?

I don't see a mention of it in your post, but you'll need to account for the hardfork reducing the block time to 60s and a corresponding reduction to the block reward to preserve the overall rate : https://bitcointalk.org/index.php?topic=715435.msg8280156#msg8280156

Cheers

Graham

[A-tM]

I don't see a mention of it in your post, but you'll need to account for the hardfork reducing the block time to 60s and a corresponding reduction to the block reward to preserve the overall rate : https://bitcointalk.org/index.php?topic=715435.msg8280156#msg8280156

Cheers

Graham

Yes, I know about it - the block reward was reduced 10-times, as well as a block time, so the resulting rate of minting new coins stays the same.

In my calculation - I have used 6 blocks each hour - 319 hours - times 6 blocks an hour - equals 1914 plus maybe one block - the genezis one.

[Viper1]

as I do not know if it is even possible to avoid these initial fluctuations.

I think the only way to avoid that sort of thing at the start is to have 1 or 0 reward for a few hundred blocks or more so the algorithm can kick in and stabilize.

[Mr. Spread]

block zero has 1 SPR generated, but

Block 0 reward is not spendable, so it doesn't actually matter, I just set it to 1.

each of the next 2201 blocks has approx 66.66---- SPR generated.
The first blocks runs really fast, with high reward.

Mining began a few seconds earlier from 2014-07-29 11:01:16 when the first block was generated,
then first 200 blocks run with incredible speed just during less than 15 minutes.  2014-07-29 11:14:47 (diff 0.0016)
The next 200 blocks were created until 2014-07-29 12:05:58. (diff 0.0693)
only then the generation speed started to slow gradually.
so during first hour there was minted 26,666 coins.
Block 600 was generated much later, on 2014-07-31 at 03:58:26.

Until the fork at block 2202 there was minted approx 146,750 coins.
When taken as a whole, the number of coins minted in first 2201 blocks before the hard fork was done, the coin almost fits the specs -
2201 blocks between 2014-07-29 11:01:16 and 2014-08-11 18:03:03, which was 319 hours, 1 minute and 47 seconds, it should be around 1915 blocks.

Difficulty was very low at launch and I saw somethig like 25-30 connections right after the launch, I don't know how many peers there actually were and how many of them were mining.

But, somebody took great advantage until difficulty algorithm sets it right, and then, miners who joined later, were penalized, because the coin generation was slowered more, to compensate the initial speedup.

I am not trying to offend anyone here, as I do not know if it is even possible to avoid these initial fluctuations. I am just sharing what I have found.
Initially, it seems to me like (not so big) instamine, but with all these numbers the dev seems fair to me.

Yeah, at least this is not Darkcoin instamine where they mined first 575 blocks in 15 minutes with reward 100x higher than current: https://chainz.cryptoid.info/drk/block.dws?000007d91d1254d60e2dd1ae580383070a4ddffa4c64c2eeb4a2f9ecc0414343.htm

What are the next plans with the coin?

There will be announcement soon (in several days I hope). I just need to implement everything right and write whitepaper.

[MadGhost]

EDIT: That were multiple results from the two different CPUs, I do not have two haswells and two Ivys

Anyway, hashing nicely.

So, should there be 1440 blocks each day?
Does it mean, during these few days, when block reward is approx. 6.65 SPR, there are minted approx. 9576 new coins a day?

And, if the reward is halving gradually (incidentally, what I appreciate much) each two years, it means right after first year had passed there will be 5 SPR block reward,
so during first year there will be minted 3,066,666 coins?
Am I right?

as the reward per block is less and also it shows that there will be less coins mined now.

[Frigga77]

{
"blocks" : 9841,
"currentblocksize" : 1000,
"currentblocktx" : 0,
"difficulty" : 0.01336316,
"errors" : "",
"generate" : true,
"genproclimit" : 1,
"hashespersec" : 35630,
"networkhashps" : 996998,
"pooledtx" : 0,
"testnet" : false
}
The hashrate and difficulty are increasing every day, nice!

[Mr. Spread]

There will be announcement soon (in several days I hope). I just need to implement everything right and write whitepaper.

This will take somewhat more time; I was quite busy in real life.

Manwhile I added more info to OP about current features of SpreadCoin: transactions in SpreadCoin are smaller than in Bitcoin. Although it was known for a long time that digital signatures in Bitcoin are space-inefficent I don't know about any other Bitcoin fork that cared to fix them.

Compact Transactions
SpreadCoin uses more compact representation for signatures in transactions. This leads to smaller transactions and, hence, smaller blockchain. See e.g. this transaction in SpreadCoin and similar transaction in Bitcoin, both transactions have 15 inputs and 1 output but SpreadCoin transaction takes 1661 bytes while Bitcoin one takes 2744.
See this thread for more info: https://bitcointalk.org/?topic=6430.0%29%3F

Also there is a Linux build for those who don't want to build it themselves.

[Viper1]

There will be announcement soon (in several days I hope). I just need to implement everything right and write whitepaper.

This will take somewhat more time; I was quite busy in real life.

Manwhile I added more info to OP about current features of SpreadCoin: transactions in SpreadCoin are smaller than in Bitcoin. Although it was known for a long time that digital signatures in Bitcoin are space-inefficent I don't know about any other Bitcoin fork that cared to fix them.

Compact Transactions
SpreadCoin uses more compact representation for signatures in transactions. This leads to smaller transactions and, hence, smaller blockchain. See e.g. this transaction in SpreadCoin and similar transaction in Bitcoin, both transactions have 15 inputs and 1 output but SpreadCoin transaction takes 1661 bytes while Bitcoin one takes 2744.
See this thread for more info: https://bitcointalk.org/?topic=6430.0%29%3F

Also there is a Linux build for those who don't want to build it themselves.

Good stuff.  Keep it up.

[zeca pagodinho]

SpreadCoin
I support this project! 
There are no pools to monopolize mining;
Dev is active;
low difficulty;
Dev is doing updates, fixes and notifying enough;
So far one of the most fair coins left;
What did you waiting?

Mining Tutorial:
Open your wallet.
Go to the tools tab;
Activate the Debug Console;

In the window that opens, select the Console tab;
Enter the command: setgenerate true;

Okay, you are mining for!
 

[zeca pagodinho]

Translation to Portuguese:

https://bitcointalk.org/index.php?topic=750353.new#new 

[Lucky Cris]

Is this still active???

Mr, Spread - you here? I want to make my first installment payment for the bet I lost...

[zeca pagodinho]

Is this still active???

Mr, Spread - you here? I want to make my first installment payment for the bet I lost...

Is active.
And by the way working great! 

[Lucky Cris]

Is this still active???

Mr, Spread - you here? I want to make my first installment payment for the bet I lost...

Is active.
And by the way working great! 

k, good   I just want to make sure dev hadn't jump ship - that's all. No need to pay him if he's no longer here

[Mr. Spread]

Translation to Portuguese:

https://bitcointalk.org/index.php?topic=750353.new#new 

Added to op

Is this still active???

Mr, Spread - you here? I want to make my first installment payment for the bet I lost...

Yes, I'm here