[PRE-ANN][ZEN][Pre-sale] Zennet: Decentralized Supercomputer - Official Thread

[ohad]

From Crowd Computing conference on Almere http://vimeo.com/111871002

[ohad]

If there are any Auction theorists here, I'll be glad for a discussion regarding this http://zennet.sc/vickery_draft.pdf

[ohad]

I always get asked "how many coins there will be on Zennet?"
Of course it doesnt economically matter, but it does matter for technical and convenient reasons - since the system is micropayment-based, small amounts need to be human-readable and precise enough. This is why we need relatively large amount of coins.
On Bitcoin's code, an amount of coins is represented as a 64 bit integer, representing the number of satoshis (avoiding floating point to avoid rounding errors). it can hold numbers up to 2^64=18446744073709551616=1.844E+19. Isn't it a nice number?
So this will be the number of satoshi-zens. The number of total zens is therefore 184 billion. So we have both 2^64 and 1E-8 precision for compatibility with existing systems. We will officially call 1E-8 of zen a "satoshi-zen" in honor of Satoshi Nakamoto, as common in Bitcoin.

EDIT:
Number of coins will be 147B rather 184B due to compatibility issues.

[xenmaster]

Important notice:
Zennet Facebook page and twitter account have been hacked. I currently have no access to them.

[mishax1]

Did you lose your btt account ("ohad") as well ?

[ohad]

Did you lose your btt account ("ohad") as well ?

no, only the mentioned accounts. the theif has been discovered.
the hacker also tried to mess up with our domains. but he only half succeeded: it's now not on my nor his hands but at the hands of name.com. ofc i mailed them my passport and explained everything. it's taking them far too long.

[kimmel]

Do you know about 2FA for preventing hacks 

[xenmaster]

Our twitter account is back into my hands (ohad)

[mr.coinzy]

I have very positive beliefs and high expectations regarding this project because of the huge potential, both in the idea, but also in the driving force behind it in this case. Exciting times are yet ahead!

[xenmaster]

I have very positive beliefs and high expectations regarding this project because of the huge potential, both in the idea, but also in the driving force behind it in this case. Exciting times are yet ahead!

thanks. i'm working on models to give much more value into zen coins. will be published when ready (don't expect it to be ready tomorrow:) )

[allanj]

Hi team zennet , this all sounds pretty exciting. Didnt think id see this in my generation.. waiting for the pre-sale!!

[ohad]

Presentation at InsideBTC http://youtu.be/MTARBWPRmxk?list=PLiOFfTVghPYjKbkjeYo2LOYEgUgNbIh9t

[ohad]

I'd like to give a few important updates that I think will give a lot more value into both Zennet and its coins, Zens:

1. HunterMinerCrafter and myself have been working on a generalization of the Blockchain algorithm. The Blockchain is made of proofs, very certain proofs. We generalize the chain to support generalized claims and proofs. This new chain will be able to implement many coins and apps over it (a lot more than the classic chain), by anyone, anytime. Distributed Appstore/Google play is only one single face of this many-faces system. Zennet will be one of them. So Zennet's design is very different now, yet the features and economy (also w.r.t. coin buyers) will remain the same if not better.
I'll soon publish a paper describing the new chain. You can join our IRC channel and participate on discussions about it.

2. We also put more value into the coins of Zennet with Bitagoras. Bitagoras will support Bitcoin and Zens (and of course will be implemented over the new chain), while Zens will be much faster and micropayment-oriented.

3. We will probably do have an intermediate token (e.g. over Counterparty) so buyers will have something tradeable even before the genesis is out.

4. Again I apologize for the delay in the public and automatic sale. The change of the infrastructure do require some legal work to be redone.

If you're is interested in pre-buying Zens now, please contact me privately at ohadasor@gmail.com

[*Sakura*]

How will I have enough resources to rent out when I'm using it to mine POW?

as mentioned above, if it'll be ASICs, no such concern.

Sounds like you're thinking merge mine with bitcoin.

no, this won't happen. merged mining has its own vulnerabilities

Well eventually POW electricity cost will take this project out of my home.  I don't think mining is even needed with this type of project. I feel Zennet  falls more in line with Storj  and their idea of farming. Cultivating a resource we all ready have.

So....Mining earns Zencoin and Zencoin is also earned by renting out resources?  In my opinion, issue the coins through counterparty and not put so much effort on managing the coin.

You won't have to have an ASIC in order to rent you PC on Zennet.
Renting has nothing to do with mining.

Let's hope that a reliable and economical blockchain algo will come soon.
Currently, not much options.
Coins using insecure algos is a fact, it's not saying we should do so as well.

Counterparty is on a reliable blockchain.

not fast enough for Zennet

Then I would advise you to try ClearingHouse.

And what about DPOS? A final decision has already been made?

[ohad]

Then I would advise you to try ClearingHouse.

And what about DPOS? A final decision has already been made?

No DPOS, no BTC - but the new algo. The new chain of proofs generalizing the existing ones.

[unsoindovo]

Then I would advise you to try ClearingHouse.

And what about DPOS? A final decision has already been made?

No DPOS, no BTC - but the new algo. The new chain of proofs generalizing the existing ones.

do you have ever considered using POC algo for securyng blockchain???

[ohad]

Then I would advise you to try ClearingHouse.

And what about DPOS? A final decision has already been made?

No DPOS, no BTC - but the new algo. The new chain of proofs generalizing the existing ones.

do you have ever considered using POC algo for securyng blockchain???

POC algo?
I know POC for proof-of-concept

[unsoindovo]

Then I would advise you to try ClearingHouse.

And what about DPOS? A final decision has already been made?

No DPOS, no BTC - but the new algo. The new chain of proofs generalizing the existing ones.

do you have ever considered using POC algo for securyng blockchain???

POC algo?
I know POC for proof-of-concept

no no...
"C" stay for "Capacity"

POC --> proof of capacity!!!

if you do not know BurstCoin here are some details:

https://bitcointalk.org/index.php?topic=731923.0

in a few word you use HDD capacity to ensure transaction/block chain...
the main advantage are the very low power consumption.
so CPU could be free for other purpose...

[ohad]

Then I would advise you to try ClearingHouse.

And what about DPOS? A final decision has already been made?

No DPOS, no BTC - but the new algo. The new chain of proofs generalizing the existing ones.

do you have ever considered using POC algo for securyng blockchain???

POC algo?
I know POC for proof-of-concept

no no...
"C" stay for "Capacity"

POC --> proof of capacity!!!

if you do not know BurstCoin here are some details:

https://bitcointalk.org/index.php?topic=731923.0

in a few word you use HDD capacity to ensure transaction/block chain...
the main advantage are the very low power consumption.
so CPU could be free for other purpose...

the new generalized blockchain will generalize this as well. they're all very special cases of it

[ohad]

a bit old, but for having some orders of magnitudes http://www.extremetech.com/extreme/161772-microsoft-now-has-one-million-servers-less-than-google-but-more-than-amazon-says-ballmer