[ANN] Cannacoin (CCN) | PoW->PoSV | No premine | No IPO

[Cannacoin]

Please don't worry about the trolls.  Cannacoin (CCN) is a completely transparent blockchain with a 0% premine.  It was fairly launched on March 28th 2014 nearly 40 days after it was announced publicly.  We are our own developers and we are going to transition to POSV through a hard fork.  We have all of our resources currently focused on this effort and after we finish we will bring Cannapay out of beta and will launch NWGT.tv.  That's just the beginning.

Thanks for the support everyone.

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[Cannacoin]

To the dev team -

How is moving to PoS going effect CCN emission, both in time and final mintage? If this information is already public, I missed.

Thanks!

Well, final mintage is hoping to be around 4,200,000 coins at ~1% yearly interest.

So only about 1/3 of the PoW mintage, which was planned to be 13,140,000. So CCN will be one of the rarest of the cannabis targeted coins by a huge margin.

That's right.  It was not intended that way originally.  Nobody really predicted the level of asic development as well as multipools which have change the dynamics of the market.  We spent nearly 3 months researching the proof-of-work specifications of this protocol before launching on March 28th 2014.

This is a long-term protocol with an extremely fair distribution.   Our largest holders are long-term miners and community members.  This coin has no trading whales that we are aware of.  The largest wallet is believed to be the Bittrex wallet with nearly 100 active addresses (~600k CCN) and we are going to confirm this.  

The Reddcoin codebase is excellent for coins with a wide distribution that were not originally launched as proof-of-stake.  We expect to have a very strong network thanks to the distributed nodes that will result from this long-term project - which is only in year 1 of what we anticipate to be a 3-5 year rollout.

Thanks for your support.

[Razerglass]

To the dev team -

How is moving to PoS going effect CCN emission, both in time and final mintage? If this information is already public, I missed.

Thanks!

Well, final mintage is hoping to be around 4,200,000 coins at ~1% yearly interest.

So only about 1/3 of the PoW mintage, which was planned to be 13,140,000. So CCN will be one of the rarest of the cannabis targeted coins by a huge margin.

That's right.  It was not intended that way originally.  Nobody really predicted the level of asic development as well as multipools which have change the dynamics of the market.  We spent nearly 3 months researching the proof-of-work specifications of this protocol before launching on March 28th 2014.

This is a long-term protocol with an extremely fair distribution.   Our largest holders are long-term miners and community members.  This coin has no trading whales that we are aware of.  The largest wallet is believed to be the Bittrex wallet with nearly 100 active addresses (~600k CCN) and we are going to confirm this.  

The Reddcoin codebase is excellent for coins with a wide distribution that were not originally launched as proof-of-stake.  We expect to have a very strong network thanks to the distributed nodes that will result from this long-term project - which is only in year 1 of what we anticipate to be a 3-5 year rollout.

Thanks for your support.

Can't wait for everything to come.. Cannapay.. POS everything is so soon

[FryguyUK]

pwahahahahahaaa

[ReserveToken]

Wow  decent market activity.

[Cannacoin]

The Cannacoin team were featured guests on YouMeAndBTC for Episode 45: http://youmeandbtc.com/podcasts/ymb-podcast-e45-understanding-altcoins/

[fartbags]

[2Give] / GiveCoin 2.0 is also trying to switch from PoW into PoSV. The CCN devs may want to be in contact with the devs from 2GIVE who are trying to go to ReddCoins PoSV. The devs can all discuss things and help the process along which would make sure things go as well as possible.

[tokyopotato]

[2Give] / GiveCoin 2.0 is also trying to switch from PoW into PoSV. The CCN devs may want to be in contact with the devs from 2GIVE who are trying to go to ReddCoins PoSV. The devs can all discuss things and help the process along which would make sure things go as well as possible.

That would be interesting to chat with them and see their progress.

[8-bit]

Wow  decent market activity.

It seems like people are buying up coins before the POSv change. The upcoming projects for cannacoin look very promising indeed : )

[ReserveToken]

Feel free to explore the Cannacoin POSV github while we work on it: https://github.com/Cannacoin-Project/ccn-redd

5% annual interest in PoSV phase

Will this also be for CCN?

Best regards!

[Cannacoin]

The rate of anual interest for CCN will be 1%

[binpool]

our pool wait miners - http://ccn.binpool.com/ - hashrate - 502,645.391 KH/s

[8-bit]

thanks for bringing a new pool to the community

[LuckyKey]

How's the PoSV code update progressing?

[8-bit]

How's the PoSV code update progressing?

from what i've heard from the IRC chatroom they are working on it all day, everyday.

dedicated group of coders for sure

[tokyopotato]

How's the PoSV code update progressing?

Here's the deal with the POSV transition... we believe the code is correct, but it can't be tested without launching it on the entire network - which is risky.  Josh and I have looked through the code repeatedly over and over and we know exactly where the issue that is preventing us from properly testing the protocol is (generating stake blocks) and we believe we know why it is happening.

So we have decided to setup a Cannacoin testnet in order to test everything before launching it.  Unfortunately, we didn't realize how necessary this would be until now.  It will be very valuable for us to launch a test-net for future protocol changes and testing, so better late than never.

We should have the test-net setup by this afternoon and begin testing late tonight.

Anyone that is interested in compiling the testnet client and setting up a node would be providing a very helpful service - however, you will need to have some linux/unix skills.  Alternatively, if you like you can setup an Ubuntu installation and install TeamViewer so we can access it as a remote PC

[tokyopotato]

We've already had a few people approach us to run test-net nodes... thank you to those folks.  

If you need some help jump on #cannacoin IRC freenode https://kiwiirc.com/client/irc.freenode.net/cannacoin/

If anyone wants to join our Mumble server for real-time assistance, send me a pm for login details

[fartbags]

How's the PoSV code update progressing?

Here's the deal with the POSV transition... we believe the code is correct, but it can't be tested without launching it on the entire network - which is risky.  Josh and I have looked through the code repeatedly over and over and we know exactly where the issue that is preventing us from properly testing the protocol is (generating stake blocks) and we believe we know why it is happening.

So we have decided to setup a Cannacoin testnet in order to test everything before launching it.  Unfortunately, we didn't realize how necessary this would be until now.  It will be very valuable for us to launch a test-net for future protocol changes and testing, so better late than never.

We should have the test-net setup by this afternoon and begin testing late tonight.

Anyone that is interested in compiling the testnet client and setting up a node would be providing a very helpful service - however, you will need to have some linux/unix skills.  Alternatively, if you like you can setup an Ubuntu installation and install TeamViewer so we can access it as a remote PC

The guy from this site is an honorable person (I think...)
http://altcoin.center/

I would recommend getting in on their services early. There isn't much more than addnodes right now but I expect big things with their services 6 months from now. I would try to pre-pay for 1 or 2 years as prices for services like this will only increase.

[tokyopotato]

How's the PoSV code update progressing?

Here's the deal with the POSV transition... we believe the code is correct, but it can't be tested without launching it on the entire network - which is risky.  Josh and I have looked through the code repeatedly over and over and we know exactly where the issue that is preventing us from properly testing the protocol is (generating stake blocks) and we believe we know why it is happening.

So we have decided to setup a Cannacoin testnet in order to test everything before launching it.  Unfortunately, we didn't realize how necessary this would be until now.  It will be very valuable for us to launch a test-net for future protocol changes and testing, so better late than never.

We should have the test-net setup by this afternoon and begin testing late tonight.

Anyone that is interested in compiling the testnet client and setting up a node would be providing a very helpful service - however, you will need to have some linux/unix skills.  Alternatively, if you like you can setup an Ubuntu installation and install TeamViewer so we can access it as a remote PC

The guy from this site is an honorable person (I think...)
http://altcoin.center/

I would recommend getting in on their services early. There isn't much more than addnodes right now but I expect big things with their services 6 months from now. I would try to pre-pay for 1 or 2 years as prices for services like this will only increase.

Thanks, I'm going to forward that info.

We have the test-net up and running now and we will setup seed nodes and a test-net faucet soon.

[tokyopotato]

We got the test-net up, and after some initial issues and investigations, we were able to get some blocks staked.  This is good news because it means we were right about our hunches.   More info soon

*edit*

Test-net properly staking and we are making transactions.

Exciting times for Cannacoin folks  

Special thank you to dfletcher the Shibecoin dev for giving us a few minutes of his time to help us out!