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

[cwnt]

Keep my eye on this.

Me too. Extremely interesting proposal here.

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[tobeaj2mer01]

Is there any IPO/ICO or pre-sale for this coin, I want to invest in it.

[-Greed-]

Is there any IPO/ICO or pre-sale for this coin, I want to invest in it.

From xennet.io:

* Presale is expected. Stay tuned *

Ohad Asor
July 27, 2014

[xenmaster]

always nice to see innovation!
@Dev: can you explain more about the XenCoin? 

Sure,

On Xennet, people will trade computational resources for XenCoins.

Its purpose and design goal are to be a token for activating computational machines. It's interesting to note that XenCoin has a real intrinsic value, as it is fully backed by the right to use a certain amount of computation power.
The best candidate for now for the coin technology is Delegated Proof of Stake (http://bitshares.org/delegated-proof-of-stake/) by Dan Larimer.
On the pre-sale XenCoins will be sold, and delivered after the product is ready.
People naturally ask why we don't make it over Bitcoin. The reason is that for the Micropayment process to initiate, provider has to wait for confirmations for the multisig deposit by the publisher. Hence, publishers might have to wait 45mins until the work begins, which is unacceptalble.

[BTCat]

Interesting, but for now just a synopsis.

[takayama]

Interesting, but for now just a synopsis.

synopsis?!?
have you even read all of it?

- http://xennet.io
- https://docs.google.com/document/d/1Y-JKJtJrnGpEISgpEpGKqwmW-atg0_Uk2rJAH5YpaLc/edit#heading=h.8llwmxkra3of
- https://github.com/Xennet/xennetdocs

- http://insidehpc.com/2014/08/new-xennet-hpc-cloud-free-market-alternative-aws/ (just found this  )

[takayama]

Its purpose and design goal are to be a token for activating computational machines. It's interesting to note that XenCoin has a real intrinsic value, as it is fully backed by the right to use a certain amount of computation power.

refreshing to see a cryptocoin with real intrinsic value, that aims to solve an actual problem.

@Dev can you explain more about the Micropayment protocol? (to a non technical person please  )

[smokim87]

Guessing Windows Server OS won't able to work in this right but maybe in a few years when computers are much more powerful?

It will work on Windows and even on mobiles!
Docker will be executed inside a virtual machine (Virtualbox, QEMU etc.).
The VM will run Xennet-OS that will split containers to each publisher.
Therefore, cross-platform.

Note that since QEMU is a fully user-space hypervisor, it is compatible with any os and architecture able to compile C.

Now this is a very interesting idea. Just wondering are you part of the team?

This should take months to develop, please take your time. Perfect it, make it air tight. Bookmarked will for sure following this.

[MsCollec]

good no IPO 

[ohad]

Guessing Windows Server OS won't able to work in this right but maybe in a few years when computers are much more powerful?

It will work on Windows and even on mobiles!
Docker will be executed inside a virtual machine (Virtualbox, QEMU etc.).
The VM will run Xennet-OS that will split containers to each publisher.
Therefore, cross-platform.

Note that since QEMU is a fully user-space hypervisor, it is compatible with any os and architecture able to compile C.

Now this is a very interesting idea. Just wondering are you part of the team?

This should take months to develop, please take your time. Perfect it, make it air tight. Bookmarked will for sure following this.

Yes, I'm Ohad Asor

Its purpose and design goal are to be a token for activating computational machines. It's interesting to note that XenCoin has a real intrinsic value, as it is fully backed by the right to use a certain amount of computation power.

refreshing to see a cryptocoin with real intrinsic value, that aims to solve an actual problem.

@Dev can you explain more about the Micropayment protocol? (to a non technical person please  )

The Micropayments protocol is described here.

tl;dr version:

Denote our publisher by A and provider by B. Then A has to continuously pay to B.
A transfers some coins to a 2/2 multisig address with A's and B's addresses, but only after B signs (offline) and sends to A a refund transaction, with some nLockTime, so if B runs away, A can redeem this refund transaction after a certain period of time.
After coins were locked, i.e. the transfer to the multisig address got enough confirmations (on Bitcoin it might take very long, that's why we can't make it over Bitcoin), they begin the work and continuously sign each other a transaction where the refund amount is reduced, and the amount paid directly to B is increased. Those transaction are sent offline and not being sent, hence the continuous update is frictionsless.

[bitcoinwonders010]

when do we get details of the pre sale. its best to have the coins on a exchange where we can buy them straight away. bittrex wouldn't mind supporting this

[ohad]

when do we get details of the pre sale. its best to have the coins on a exchange where we can buy them straight away. bittrex wouldn't mind supporting this

The pre-sale will take place before the software is ready. As mentioned above, it's a lot of work. Hence using an exchange is not an option.
I can't promise now exact date for pre-sale details, but it shouldn't take too long.

[bitcoinwonders010]

when do we get details of the pre sale. its best to have the coins on a exchange where we can buy them straight away. bittrex wouldn't mind supporting this

The pre-sale will take place before the software is ready. As mentioned above, it's a lot of work. Hence using an exchange is not an option.
I can't promise now exact date for pre-sale details, but it shouldn't take too long.

how would a exchange not be good just make pre sale available when software is ready. having it on a exchange makes life easier as it won't need to be individually distributed

[ohad]

when do we get details of the pre sale. its best to have the coins on a exchange where we can buy them straight away. bittrex wouldn't mind supporting this

The pre-sale will take place before the software is ready. As mentioned above, it's a lot of work. Hence using an exchange is not an option.
I can't promise now exact date for pre-sale details, but it shouldn't take too long.

how would a exchange not be good just make pre sale available when software is ready. having it on a exchange makes life easier as it won't need to be individually distributed

The pre-sale will take place long before the software is ready. We need it to fund the dev.

[bitcoinwonders010]

when do we get details of the pre sale. its best to have the coins on a exchange where we can buy them straight away. bittrex wouldn't mind supporting this

The pre-sale will take place before the software is ready. As mentioned above, it's a lot of work. Hence using an exchange is not an option.
I can't promise now exact date for pre-sale details, but it shouldn't take too long.

how would a exchange not be good just make pre sale available when software is ready. having it on a exchange makes life easier as it won't need to be individually distributed

The pre-sale will take place long before the software is ready. We need it to fund the dev.

thats awesome but im just saying put it on a exchange so we can buy it from there

[xenmaster]

Have a look on two organic press releases:
http://www.hpcwire.com/2014/08/18/free-market-hpc-cloud-development/
http://insidehpc.com/2014/08/new-xennet-hpc-cloud-free-market-alternative-aws/
We will also mention that some worried supercomputing companies have contacted us.

[bitcoinwonders010]

Have a look on two organic press releases:
http://www.hpcwire.com/2014/08/18/free-market-hpc-cloud-development/
http://insidehpc.com/2014/08/new-xennet-hpc-cloud-free-market-alternative-aws/
We will also mention that some worried supercomputing companies have contacted us.

how much are you looking to raise hope its not a crazy ipo like ether

[xenmaster]

Have a look on two organic press releases:
http://www.hpcwire.com/2014/08/18/free-market-hpc-cloud-development/
http://insidehpc.com/2014/08/new-xennet-hpc-cloud-free-market-alternative-aws/
We will also mention that some worried supercomputing companies have contacted us.

how much are you looking to raise hope its not a crazy ipo like ether

Well the market will tell.
The market size of Xennet (HPC, Big Data, Worldwide computing resources) is so much bigger than the market of cryptocoins (in which we're huge fans of), especially in terms of demand and being a bottleneck for so many (good and wealthy) organizations. Moreover, XenCoin is by no means a coin that is designed to be useful for generic value transfer. It is optimized for use over Xennet and to rent computational resources.
So we have many people that need XenCoin (HPC consumers), and on the other hand, we do need to invest a lot on the product itself, it's audience, and build more applications on top of Xennet, like XenFS and XenTube as in the RFC (https://github.com/Xennet/xennetdocs), or a distributed and decentralized search engine.. God knows. Endless work towards us.
Anyway it's going to be a very fair sale. Details aren't closed yet, but will of course be announced here.

Note that the RFC is a bit outdated, and http://xennet.io contains a newer design of Xennet implementation.

[tobeaj2mer01]

Have a look on two organic press releases:
http://www.hpcwire.com/2014/08/18/free-market-hpc-cloud-development/
http://insidehpc.com/2014/08/new-xennet-hpc-cloud-free-market-alternative-aws/
We will also mention that some worried supercomputing companies have contacted us.

how much are you looking to raise hope its not a crazy ipo like ether

Well the market will tell.
The market size of Xennet (HPC, Big Data, Worldwide computing resources) is so much bigger than the market of cryptocoins (in which we're huge fans of), especially in terms of demand and being a bottleneck for so many (good and wealthy) organizations. Moreover, XenCoin is by no means a coin that is designed to be useful for generic value transfer. It is optimized for use over Xennet and to rent computational resources.
So we have many people that need XenCoin (HPC consumers), and on the other hand, we do need to invest a lot on the product itself, it's audience, and build more applications on top of Xennet, like XenFS and XenTube as in the RFC (https://github.com/Xennet/xennetdocs), or a distributed and decentralized search engine.. God knows. Endless work towards us.
Anyway it's going to be a very fair sale. Details aren't closed yet, but will of course be announced here.

Note that the RFC is a bit outdated, and http://xennet.io contains a newer design of Xennet implementation.

Will the beta testnet/client be available before IPO begins, it will be a very fantastic coin but at the same time it is very likely to fail ,even the basic function can't work after release for some coins.

[xenmaster]

Will the beta testnet/client be available before IPO begins, it will be a very fantastic coin but at the same time it is very likely to fail ,even the basic function can't work after release for some coins.

Note that the mining, or transaction approvals etc., is *not* done by the computational work. This work is unable to be proven. What goes between the publisher and the provider, cannot be proved to a third party to be true. Trustless network is implemented by other means. Xennet is a layer on top of the coin layer, which will use a common algorithm such as POW, or maybe Delegated Proof of Stake.

So as for the coin safety, you can feel safe.

We still didn't decide whether there will or will not be a test client, this is a possibility that depends on several considerations.

We're in contact with companies having very massive computing resources so we can test it all well. We also hired a qualified QA manager. Intensive tests will be done and nothing premature will be released. Our developers are from the top of the industry with very large expertise in bringing high quality products to the market, for example, life critical products for the medical market, software for banks, and many more.

Quality is definitely one of our main guidelines, and we shall invest as much resources as needed (yet available) to deliver a top quality product.