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Essex343 (OP)
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August 13, 2014, 06:31:46 PM
Last edit: August 22, 2014, 04:39:34 PM by Essex343 |
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Please read ClusterCoin white paper http://clustercoin.org/docs/clustercoin_whitepaper.pdf |
ICO Progress:
SOLD OUT
ICO coins has been sold out! Our team thanks everyone who invested in ClusterCoin Project!
08/17/2014 Number of ICO coins is reduced according to investors demand from 7,000,000 down to 3,500,000 (rest was destroyed by Bittrex)
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I am glad to announce that fairglu agreed to set up a block explorer for ClusterCoin
Block Explorer: https://chainz.cryptoid.info/clstr/
Please note that it is now up to Bittrex to get rid of remaining 3,500,000 CLSTR that were supposed to be destroyed during the ICO
Note that the ICO coins are still 7 millions as far as the blockchain goes, once bittrex actually performs the destruction, let me know the burn address and/or transaction and I'll tag it and adjust the outstanding coin count.
You may want to get that clear before (or when) publicizing the explorer link!
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In order to fund the development of ClusterCoin we decided to organize the Initial Coin Offering. A total of 3,500,000 CLSTR will be sent upon the end of ICO to ICO investors. ICO service hosted by Bittrex
ClusterCoins reserved for ICO: 3,500,000 CLSTR (~9% of total coins)
ClusterCoin ICO price: 10,000 satoshi = 0.00010000 BTC
ICO success criteria: at least 20% of max amount sold in the ICO, i.e. at least 700,000 CLSTR
To achieve these truly ambitious goals that we set in the white paper we would need a considerable amount of funds. Our team consists of 4 experts in C/C++, web development and PR. We love crypto too! However, bitcoin has many shortcomings and we are going to significantly improve it. Anyone will be able to use ClusterCoin in their everyday life as blazing fast, anonymous and secure currency!
Message from Bittrex:
Bittrex will be hosting the ClusterCoin ICO. As a reminder, we are providing as escrow for the development team. We are not endorsing this coin or any others on our exchange. Please do your own research before trading. Below are the terms of the ICO.
* We will review the walet before initially adding it.
* We will hold all Premine Coins - 7,000,000 CLSTR
* The ICO will run for 7 days starting August 15th, 2014
* If success conditions are met, we will destroy all remaining coins.
* If success conditions are NOT met, we will buy back all outstanding coins at the ICO price
* Once the ICO is over we will verify there is working wallet and block explorer
* We will hold onto the funds in escrow for 3 days - at which time, we will release the funds.
* No sales of the coin will be allowed until after the ICO ends
* ALL SALES ARE FINAL AND THERE WILL BE NO REFUNDS - except if the success criteria isn't met. |  |
Coin name: ClusterCoin
Symbol: CLSTR
Algorithm: SHA-256
ICO coins: 7,000,000
Block rewards:
• 1st block: 7,000,000 CLSTR (ICO coins)
• 2 - 13,000 blocks: 0 CLSTR (no mining reward during ICO)
• 13,001 - 10,000,000 blocks: 30 3 CLSTR
Confirmations for blocks to mature: 100
Re-target difficulty each block
Total CLSTR coins generated during pow: 36,610,000 CLSTR
Block time: 60 seconds
Transaction confirmations: 5 |  |
In this project we are going to change the fundamental rule of block chain generation and improve block confirmation timing to mere few seconds.
The key factor that currently prevents us to do this is a requirement to synchronize block chain between all parts of the network, located all over the world. If blocks will be generated too fast and users will not receive new blocks fast enough we have a huge risk to trigger fork in block chain that will eventually have a devastating effect on the currency and the market.
For this project we invented a completely new clustering algorithm that will aggregate all transactions within several geographic clusters in order to minimize transmission time of transactions within certain cluster. each cluster will process transactions independently and then periodically synchronize transactions between geographic clusters.
This approach will allow significantly speed up the block chain refresh rate on all nodes of the network, that will allow reduce block generation time and consequently reduce the time of transaction confirmation.
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Download and read whitepaper here (pdf) http://clustercoin.org/docs/clustercoin_whitepaper.pdf |  |
http://clstr.minerpools.com/
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How do we collect and analyze information about previous transactions and make a split decision?
Any coin consists of two types of nodes. Transaction nodes – nodes that generate only transactions (common users) and Block nodes – nodes that generate blocks and transactions (pools). It is important to mention that not all of the transaction nodes have direct contact with pools – much of them only contact pools via other nodes. From the network synchronization perspective latency between a pool and a node becomes critical if we want to reduce the confirmation time, i.e. how fast information reaches from the node that initiates the transaction to the pool and how fast block information travels from the pool back to the node. This information can easily be gathered and used in order to make a decision about requirements of creating additional managed fork. Practically,statistical data of latency time between nodes will be used. It is expected to use all nodes information in the network for this procedure.
How a node will choose the appropriate fork to work with?
Every node connected to the network will constantly determine effective latency to all fork gateways. The closest gateway will be used to serve this node. For example if you live in the USA and you use your wallet installed on a smartphone – your managedfork will be the one of the US forks – all transactions (buys/sells) that you generate will be served by this fork. Then at some point you take a flight to China. As soon as you arrive and connect your smartphone to the Internet your wallet automatically detects that now the nearest fork is the one of China forks. While in China all your transactions will be served by the nearest Asian fork.
How do I make inter-fork transactions?
In between synchronizations each node will receive only blocks that belong to its nearest fork. Therefore, local transaction (i.e. payment in the local store) will be confirmed very fast. Information of the transactions in other forks will be received as soon as next Synchronization block is generated. This is absolutely adequate timing for the international transactions, presuming that amount of such transactions will be relatively low compared to the local transactions.
So this means that now everyone will know my location?
No. Everyone will know what fork is serving you. We expect that single fork will be able to serve thousands of miles and millions of users. Besides, big brother already knows about you much more than just that.
Who will generate synchronization blocks?
Synchronization blocks will be generated by pools located all over the world. In order to maintain high speed of block generation those pools will maintain direct connection to each other and coordinate each synchronization block generation. There will be separate reward for these kind of blocks. For synchronization, there is a need to update node network interaction protocol. After this update, all sync-block generator nodes (pools) will automatically connect to each other.
How does the network deal with unstable block generation speed in managed artificial forks?
It is common knowledge that block generation time is not constant but rather an approximate value. This is why sometimes before generating split block some of the forks will not be fast enough to process through the usual 999 blocks. In this case, a custom algorithm will be used to generate special dummy-blocks that will fill remaining blocks in the blockchain.
Will this require rebuilding all mining software?
No. All pools will be able to continue using stratum and mpos/nomp. The only difference in pools is that every pool will be now mining only one of the managed forks. Synchronization blocks will be generated by the coin daemon without utilizing the pool software interference.
How big will be the changes in BitCoin source?
Huge. In order to test and implement such changes we will have to completely rewrite BitCoin core and it will require quite a lot of resources to do that. This is probably one of the most ambitious project in AltCoin history, but we have a clear vision how to make it work.
How does the fork life cycle looks like?
Clustering algorithm will constantly analyze previous transactions. If at some point it becomes evident, that new geographical cluster is required to serve the network then next split block will contain new managed fork signature with its own unique 64-bit ID. Along with fork ID, split block will receive cluster creation command and GEO information about the new cluster. New fork will start serving its own dedicated GEO cluster as soon as it is created (starting from the next generated block). Splitting transition will be seamless for all users and unnoticeable.
How will GEO cluster demarcation lines look like?
In modern world, we are literally surrounded by the invisible GEO clusters. We just do not notice them. Easiest example is geographic telephone number that indicates subscriber’s country, region and city. At the beginning of ClusterCoin implementation clusters borders will be similar to the geographical borders of the continents. Countries usually have relatively similar networks and lower latencies within their borders so first clusters will cover most active countries, or even states. Initially, we believe that the most important part of the clustering algorithm is to cluster large economic hubs that have a lot of financial activity in order to maintain fast transaction confirmation time. Overall, we estimate that common GEO-cluster territory will be comparable to one state.
How is the user balance calculated?
When you launch your wallet for the first time, your address will be generated and encrypted in wallet.dat just as it is any other crypto-currency. However in the future, your balance will be calculated independently for all managed forks. This means that at the same time your balance may be different for different forks because your transactions are allocated to different forks until the next sync block is generated. If you want to transfer part or all of your balance from one fork to another you would have to initiate the cross-fork transaction and then after the next sync block your coins will be transferred to the fork that is serving you now. In order to keep separate balances across different forks the transaction format will be changed. Every transaction will be marked with additional destination parameter – 64-bit fork ID. If the transaction destination fork ID matches the fork ID that is serving you, your transaction will be accounted in the blockchain of the serving fork and therefore balance will be displayed accordingly. If the transaction destination fork ID does not match the serving fork ID – your transaction will not be accounted in the blockchain of the serving fork and the only way to transfer balance is by initiating the cross-fork transaction. Given the structure and design of blockchains and transactions, double spending risk is eliminated.
As a user do I have to care about all this forks ID`s and stuff in order to get access to my coins?
No, you do not. In this white paper, we describe the general idea of ClusterCoin implementation. The software will automatically manage your transactions. Users will not be bothered with any technical aspect of the coin implementation.
How does the split algorithm work?
We are still actively working on the decision-making algorithm. This is not a trivial task. Splitting forks will be managed by split-blocks that are based on proprietary Proof-Of-Split algorithm. The Proof-Of-Split algorithm will involve the following steps:
- All pools and solo miners will gather stats about how long it takes for newly created blocks to propagate through the network.
- When the next split block is about to be generated pools and solo miners from any given fork will submit their “votes” regarding what should be done with the fork. Two votes are possible: do nothing or split the fork into two forks
- Before determining the outcome for the split block, each vote will be weighted by the number of blocks solved by each voter since last split block. Based on this “vote” split block is being generated.
How many pools are necessary?
In order for split algorithm to function properly node network should be spread out as much as possible. It is necessary to have at least several nodes that will generate new blocks. This should be easily achievable. At the first stage, solo miners will be those nodes that generate new blocks. At the very beginning, there will be a need to have at least couple of dozens of solo miners. Next step will kick in when transaction activity becomes sufficiently large and pools will start to mine on separate forks.
How is the block reward calculated?
New coin generation rate is a constant value. Block reward will be equal to the generation rate divided by the number of active forks.
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http://clustercoin.org
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We do not prioritize anonymity over speed of transaction, however it is clear that after each synchronization all of the transactions will be automatically mixed. Therefore Inter - Cluster transactions are practically unbreakable. If you are willing to sacrifice transaction confirmation speed to extra anonymity - you may enable "Use Sunc pool as mixing pool option" and send all your, even In-cluster, transactions through Sunc pool. The price is 109 second confirmation time instead of 3 seconds.
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Knowing about recent frauds, we decided to make this coin as transparent as possible and instead of posting Source Code at the last moment before the launch - we decided to use our proprietary launch scheme. We are launching coin with premine in 1st block, and 0 block rewards during the ICO stage. You will have a whole ICO period to inspect the source code and make reasonable decisions about your investments.
https://github.com/ClusterCoin/ClusterCoin
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