[ANN] VAULT | NIST5 POW/POS | PARABOLIC MINING | 8/12/14 STATUS UPDATE

[Onionpizza]

questions from someone new to this coin to others in this discussion thread who've been more closely following it:
could anyone summarise what's special about it?

were basic aspects ready at launch - wallet, blockexplorer, website, whitepaper and/or features, etc. - or is the [ANN] promise-heavy?
have the devs delivered on their promises?
Any hidden problems -
premines?
instamines?
well distributed? is there a rich list?
buggy code?
are these are hard core programmers, not "copy-paste" devs or middlemen? When bugs/fork challenge pop up, are they fixed quickly?
dev squabbles?
dev complacency?
missed deadlines?
any "proof of developer"? Is the entirte dev team anonymous -- and even if so, does it at least have a solid reputation here on bitcointalk?
How does the coin production/distribution setup provide insulation from the risk of massive miner/whale dumps? Is there an estimate out there of the max # of daily BTC trading volume that might be needed to absorb mined coins?
Anything to worry about?

When is the next significant development update (code, screenshots and/or whitepaper/proof-of-concept or something else?) expected to come out?

read the thread. things are going relatively well.

[tekke]

Any news about Dedicatedpool? I wrote to Binaryclock in their IRC but no answers.

[n3rfherder]

Any news about Dedicatedpool? I wrote to Binaryclock in their IRC but no answers.

Business as usual.

[Sev0]

Diff is exploding 
What can we reach after the pow on a exchange like bittrex 
Still mining and holding.

[entervault]

https://i.imgur.com/RPRYAoP.pnghttps://i.imgur.com/RPRYAoP.pnghttps://i.imgur.com/RPRYAoP.png

Mining update: The end of Vault's POW period approaches. If you'd like to mine, now would be the time.

https://i.imgur.com/RPRYAoP.pnghttps://i.imgur.com/RPRYAoP.pnghttps://i.imgur.com/RPRYAoP.png

[francism]

Diff is exploding 
What can we reach after the pow on a exchange like bittrex 
Still mining and holding.

Bought some, I'm expecting that the price will explode too once it get listed on bittrex.

[Sev0]

https://i.imgur.com/RPRYAoP.pnghttps://i.imgur.com/RPRYAoP.pnghttps://i.imgur.com/RPRYAoP.png

Mining update: The end of Vault's POW period approaches. If you'd like to mine, now would be the time.

https://i.imgur.com/RPRYAoP.pnghttps://i.imgur.com/RPRYAoP.pnghttps://i.imgur.com/RPRYAoP.png

POW ends on block 2862?!
Or more?

[entervault]

https://i.imgur.com/RPRYAoP.pnghttps://i.imgur.com/RPRYAoP.pnghttps://i.imgur.com/RPRYAoP.png

Mining update: The end of Vault's POW period approaches. If you'd like to mine, now would be the time.

https://i.imgur.com/RPRYAoP.pnghttps://i.imgur.com/RPRYAoP.pnghttps://i.imgur.com/RPRYAoP.png

POW ends on block 2862?!
Or more?

Block 2880 is the LAST_POW_BLOCK, a three day parabolic proof of work period as documented in the original post.

V.

[yellowduck2]

Mining update: The end of Vault's POW period approaches. If you'd like to mine, now would be the time.

POW ends on block 2862?!
Or more?

Block 2880 is the LAST_POW_BLOCK, a three day parabolic proof of work period as documented in the original post.

V.

2880 is 2 days. How is it 3 ?

Coin is 1 min block right ?

[entervault]

https://i.imgur.com/RPRYAoP.pnghttps://i.imgur.com/RPRYAoP.pnghttps://i.imgur.com/RPRYAoP.png

Mining update: The end of Vault's POW period approaches. If you'd like to mine, now would be the time.

https://i.imgur.com/RPRYAoP.pnghttps://i.imgur.com/RPRYAoP.pnghttps://i.imgur.com/RPRYAoP.png

POW ends on block 2862?!
Or more?

Block 2880 is the LAST_POW_BLOCK, a three day parabolic proof of work period as documented in the original post.

V.

2880 is 2 days. How is it 3 ?

Coin is 1 min block right ?

90 second block time, not 60 second.

[entervault]

User announcement and reminder

Maturity for staked coins is 120 blocks so if you do not wish to stake please add the below to your vaultcoin.conf

reservebalance=1500

This file can be found/created in:

Windows: %appdata%\VaultCoin\
Mac: /Users/yourusername/Library/Application Support/VaultCoin/
Linux: /home/yourusername/.vaultcoin (or your home folder location)


Thanks!
V.

[krixzaok]

What are the chances of entering the Bittrex?

[entervault]

Development Update #2

https://i.imgur.com/RPRYAoP.png New wallets released, updated to 1.0.4, with links added to the main post. This includes a mandatory update before block 2880. We have sent emails to relevant pools to make sure the correct fork is used beyond the Proof Of Work period.

https://i.imgur.com/RPRYAoP.png We have anticipated a further issue with the proof of stake function from the previous codebase Vault is forked from. We'd like to summarize the complexity of the issue before going into detail about how we're going to handle it and maintain network integrity.

Since the original codebase is a modification of ppcoin, the value of COIN is only 6 decimal places. When used with the low supply of Vault, this raises an issue with stake rewards. In more detail, the transactions generated as rewards for low balances supporting the Vault network via staking will be below 0.000001, and therefore will effectively have no PoS reward for smaller balances (due to the internal integer representation).

As a quick fix to allow staking users to see reward, we could increase the stake reward by a multiplier, but we would prefer to instead stick to the original technical outline for Vault.

Further complexity is raised when attempting to alter the value of COIN, which is a very delicate variable, highly integrated into the core codebase. It is certainly not something we'd like to be pushing fixes for with limited time until the PoS switchover. A full fix to this issue will require a codebase cleanup, thorough checks and a little stress-testing, something we'd like to take a period of time to complete to a level we're confident with.

For these reasons, we have decided to implement a temporary repression of staking rewards until we are satisfied with a cleaner, bug-free codebase. What does this mean for you?

Well, not much, besides a short period of staking with zero reward. The core members of the development team have managed to mine around 22 Vault which we will commit to staking 24/7 during the zero reward period, allowing the network to continue it's mobility and allow transactions to confirm as normal. We are already working on the permanent solution, and integrating this solution with VaultNodes, which is the first novel unique innovation we're implementing into Vault.

Please remember, this update is mandatory. Any staking you perform with previous clients will exist on a fork that is not valid to the main network. We will provide another update when the permanent fix is prepared for public upgrade.

Thank you for your continued support, we hope that we have displayed a devotion to the continued development of Vault and the avoidence of problems before they occur.

https://i.imgur.com/RPRYAoP.png Approaching the end of the Proof Of Work period, only 100 or so blocks remaining to mine.

https://i.imgur.com/RPRYAoP.png We are preparing a documentation of future development plans, including an explanation of VaultNodes, and additional technical contributions, but would like to fix the ppcoin codebase's staking issues before we proceed with announcing the more complex developments.

Thanks for your patience and continued support!

1.0.4 Windows client: (download)
1.0.4 Mac client: (download)
See code changes: (github)

[ebeth08]

Development Update #2

New wallets released, updated to 1.0.4, with links added to the main post. This includes a mandatory update before block 2880. We have sent emails to relevant pools to make sure the correct fork is used beyond the Proof Of Work period.

We have anticipated a further issue with the proof of stake function from the previous codebase Vault is forked from. We'd like to summarize the complexity of the issue before going into detail about how we're going to handle it and maintain network integrity.

Since the original codebase is a modification of ppcoin, the value of COIN is only 6 decimal places. When used with the low supply of Vault, this raises an issue with stake rewards. In more detail, the transactions generated as rewards for low balances supporting the Vault network via staking will be below 0.000001, and therefore will effectively have no PoS reward for smaller balances (due to the internal integer representation).

As a quick fix to allow staking users to see reward, we could increase the stake reward by a multiplier, but we would prefer to instead stick to the original technical outline for Vault.

Further complexity is raised when attempting to alter the value of COIN, which is a very delicate variable, highly integrated into the core codebase. It is certainly not something we'd like to be pushing fixes for with limited time until the PoS switchover. A full fix to this issue will require a codebase cleanup, thorough checks and a little stress-testing, something we'd like to take a period of time to complete to a level we're confident with.

For these reasons, we have decided to implement a temporary repression of staking rewards until we are satisfied with a cleaner, bug-free codebase. What does this mean for you?

Well, not much, besides a short period of staking with zero reward. The core members of the development team have managed to mine around 22 Vault which we will commit to staking 24/7 during the zero reward period, allowing the network to continue it's mobility and allow transactions to confirm as normal. We are already working on the permanent solution, and integrating this solution with VaultNodes, which is the first novel unique innovation we're implementing into Vault.

Please remember, this update is mandatory. Any staking you perform with previous clients will exist on a fork that is not valid to the main network. We will provide another update when the permanent fix is prepared for public upgrade.

Thank you for your continued support, we hope that we have displayed a devotion to the continued development of Vault and the avoidence of problems before they occur.

Approaching the end of the Proof Of Work period, only 100 or so blocks remaining to mine.

We are preparing a documentation of future development plans, including an explanation of VaultNodes, and additional technical contributions, but would like to fix the ppcoin codebase's staking issues before we proceed with announcing the more complex developments.

Thanks for your patience and continued support!

1.0.4 Windows client: (download)
1.0.4 Mac client: (download)
See code changes: (github)

Great to see a Dev doing such great work. A++++++

[Late 80s]

Wow, awesome, dedicated dev team

If they keep this up, along with some innovation and the limited supply, I can see this coin reaching 0.6-8!

[Crypto_Enthusiast]

Professional dev, rare coin - this is looking promising!

[Late 80s]

Vault on c-cex!

[czvezda]

Development Update #2

New wallets released, updated to 1.0.4, with links added to the main post. This includes a mandatory update before block 2880. We have sent emails to relevant pools to make sure the correct fork is used beyond the Proof Of Work period.

We have anticipated a further issue with the proof of stake function from the previous codebase Vault is forked from. We'd like to summarize the complexity of the issue before going into detail about how we're going to handle it and maintain network integrity.

Since the original codebase is a modification of ppcoin, the value of COIN is only 6 decimal places. When used with the low supply of Vault, this raises an issue with stake rewards. In more detail, the transactions generated as rewards for low balances supporting the Vault network via staking will be below 0.000001, and therefore will effectively have no PoS reward for smaller balances (due to the internal integer representation).

As a quick fix to allow staking users to see reward, we could increase the stake reward by a multiplier, but we would prefer to instead stick to the original technical outline for Vault.

Further complexity is raised when attempting to alter the value of COIN, which is a very delicate variable, highly integrated into the core codebase. It is certainly not something we'd like to be pushing fixes for with limited time until the PoS switchover. A full fix to this issue will require a codebase cleanup, thorough checks and a little stress-testing, something we'd like to take a period of time to complete to a level we're confident with.

For these reasons, we have decided to implement a temporary repression of staking rewards until we are satisfied with a cleaner, bug-free codebase. What does this mean for you?

Well, not much, besides a short period of staking with zero reward. The core members of the development team have managed to mine around 22 Vault which we will commit to staking 24/7 during the zero reward period, allowing the network to continue it's mobility and allow transactions to confirm as normal. We are already working on the permanent solution, and integrating this solution with VaultNodes, which is the first novel unique innovation we're implementing into Vault.

Please remember, this update is mandatory. Any staking you perform with previous clients will exist on a fork that is not valid to the main network. We will provide another update when the permanent fix is prepared for public upgrade.

Thank you for your continued support, we hope that we have displayed a devotion to the continued development of Vault and the avoidence of problems before they occur.

Approaching the end of the Proof Of Work period, only 100 or so blocks remaining to mine.

We are preparing a documentation of future development plans, including an explanation of VaultNodes, and additional technical contributions, but would like to fix the ppcoin codebase's staking issues before we proceed with announcing the more complex developments.

Thanks for your patience and continued support!

1.0.4 Windows client: (download)
1.0.4 Mac client: (download)
See code changes: (github)

pool.mn has updated to v1.0.4

[AlexformPr]

Block explorer went down just when I found a block worth 1.53k it was number 2448 hmmm 

[entervault]

Block explorer went down just when I found a block worth 1.53k it was number 2448 hmmm  

Coinbase TX of block 2448:

Code:

{
"txid" : "35e56449ce1602a53eef4c4b52054374f762fb931035e2cb1499b267d5a59de5",
"txid" : "35e56449ce1602a53eef4c4b52054374f762fb931035e2cb1499b267d5a59de5",
"version" : 1,
"time" : 1407561582,
"locktime" : 0,
"vin" : [
{
"coinbase" : "029009062f503253482f0470afe55308f800888eda0100001a2d7777772e706f6f6c2e6d6e2d7374726174756d2d706f6f6c2d",
"sequence" : 0
}
],
"vout" : [
{
"value" : 0.76562600,
"n" : 0,
"scriptPubKey" : {
"asm" : "02aaf0929c0656b93c9af87c0f44aed02c2bd650f77417c211ef4ef0a1b4bc3588 OP_CHECKSIG",
"hex" : "2102aaf0929c0656b93c9af87c0f44aed02c2bd650f77417c211ef4ef0a1b4bc3588ac",
"reqSigs" : 1,
"type" : "pubkey",
"addresses" : [
"VNKo1EVjGk9FsuS8dAVauopb4Ey8FMYzFw"
]
}
}
],
"blockhash" : "00000000002aea11698c3ec2d335d11a69b87127676592e44f537913d91f2be3",
"confirmations" : 397,
"txntime" : 1407561582,
"time" : 1407561582
}

Value = 0.76562600

Please ensure you are running an up-to-date wallet.


Let us also remind you again to add the following to your vaultcoin.conf if you do not wish to stake:

Code:

reservebalance=1500

Due to the original code staking=0 will not work.