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

[LuckyKey]

Announcement 11/17/14: PoW -> PoSV Testnet transition a success!

Good news is in! We have successfully simulated and transitioned Scrypt PoW -> PoSV twice over CCN testnet!  After hundreds of hours of code review, testing and debugging our peer to peer connections are working, we are generating PoSV blocks and transactions are broadcasting/confirming as expected!  This means we've done it! We're getting ready to compile and release a new update/wallet over the coming week or so.  You can expect a more formal and detailed announcement to follow in the coming days with exact fork numbers and protocol changes listed.  

I am personally extremely excited to bring this change to the CCN community! I am so incredibly proud of alll those involved in making this happen, after this battle I can honestly say the CCN team is a completely new team and each one has proven themselves to be true protocol specialists. Special thanks to the entire CCN dev team (James, Patrick, Phil) and also to our colleagues Kassado and Dfletcher for the invaluable tips and tricks from your experiences with the Redd/POSV codebase.  Without everyone contributing this would have not been possible!

Toke up, Cheers!
SubCreative

Great news.  Thanks to those that assisted in the development - much appreciated! 

[tokyopotato]

Announcement 11/17/14: PoW -> PoSV Testnet transition a success!

Good news is in! We have successfully simulated and transitioned Scrypt PoW -> PoSV twice over CCN testnet!  After hundreds of hours of code review, testing and debugging our peer to peer connections are working, we are generating PoSV blocks and transactions are broadcasting/confirming as expected!  This means we've done it! We're getting ready to compile and release a new update/wallet over the coming week or so.  You can expect a more formal and detailed announcement to follow in the coming days with exact fork numbers and protocol changes listed.  

I am personally extremely excited to bring this change to the CCN community! I am so incredibly proud of alll those involved in making this happen, after this battle I can honestly say the CCN team is a completely new team and each one has proven themselves to be true protocol specialists. Special thanks to the entire CCN dev team (James, Patrick, Phil) and also to our colleagues Kassado and Dfletcher for the invaluable tips and tricks from your experiences with the Redd/POSV codebase.  Without everyone contributing this would have not been possible!

Toke up, Cheers!
SubCreative

+1 on the thank you to dfletcher and kassado.

*edit* Looks like the transition is set for block 370,000... the source should be finished tonight and getting the new wallets compiled they should be ready in less than a week.

[fartbags]

Once this coin transitions to PoSV will it still need POW hashing power?

[tokyopotato]

Once this coin transitions to PoSV will it still need POW hashing power?

Nope!

[Razerglass]

discounted coins last chance before moon

[fartbags]

Once this coin transitions to PoSV will it still need POW hashing power?

Nope!

Cool. I guess you won't mind me telling all of the miners to move there hash power over to THC The Hemp Coin after the switch. XD


Wow. what's up with the price drop just now? Great news from CCN and the price drops to a 30 day all time low. I will put in some buy orders. I wish I had some buy orders set that low 5 hours ago~!

[Cannacoin]

Announcements: Finalized POSV Details & release announcement.

Checking in to provide some details on the transition proof-of-stake...  We are in the processes of completing Mac, Windows and Linux builds and will have downloads targeted for release Monday.

The details for the new PoSV network will be as follows:

1) 2% Annual Network Staking Interest
2) Coinstake maturity after 70 confirmation
3) 3 Confirms for standard transactions
4) LAST POW BLOCK = 370,000

This update will be a HARDFORK release, ALL clients must be updated PRIOR to block 370,000 in order for you to secure your funds on the CCN network.  Please check in regularly in the coming weeks as we move through this transition, there may be important announcements or updates requiring action on your behalf.

Along with the updates we have launched a brand new test network that will provide a simulation of the CCN network for development purposes, this will be accessible at startup using the -testnet flag and will be baked into the original Cannacoin QT/Daemon (no need to download another client). We are also planning a secondary faucet to be utilized for acquiring a good sum of testnet coins for testing & development.

The new code is available for peer review on github, we will be merging this repository into the main Cannacoin repository as a new branch upon release for proper maintainability and historical reference to older versions of the codebase.

https://github.com/Cannacoin-Project/ccn-redd/

Final note, for anyone with questions about "how does the new network work?" we are planning a release of a completed Cannacoin FAQ with lots of details pertaining to the new proof-of-stake model, I should have this completed within the coming days. The FAQ covers a lot of the common questions as well as providing some technical insight into the inner workings of proof-of-stake with velocity.

-SubCreative

[tokyopotato]

Once this coin transitions to PoSV will it still need POW hashing power?

Nope!

Cool. I guess you won't mind me telling all of the miners to move there hash power over to THC The Hemp Coin after the switch. XD


Wow. what's up with the price drop just now? Great news from CCN and the price drops to a 30 day all time low. I will put in some buy orders. I wish I had some buy orders set that low 5 hours ago~!

Might as well mine THC after CCN.  I haven't done much research on that coin but if they have a good development team and 0% premine, I think it's a blockchain worthy of taking an interest in.

[tokyopotato]

Announcements: Finalized POSV Details & release announcement.

Checking in to provide some details on the transition proof-of-stake...  We are in the processes of completing Mac, Windows and Linux builds and will have downloads targeted for release Monday.

The details for the new PoSV network will be as follows:

1) 2% Annual Network Staking Interest
2) Coinstake maturity after 70 confirmation
3) 3 Confirms for standard transactions
4) LAST POW BLOCK = 370,000

This update will be a HARDFORK release, ALL clients must be updated PRIOR to block 370,000 in order for you to secure your funds on the CCN network.  Please check in regularly in the coming weeks as we move through this transition, there may be important announcements or updates requiring action on your behalf.

Along with the updates we have launched a brand new test network that will provide a simulation of the CCN network for development purposes, this will be accessible at startup using the -testnet flag and will be baked into the original Cannacoin QT/Daemon (no need to download another client). We are also planning a secondary faucet to be utilized for acquiring a good sum of testnet coins for testing & development.

The new code is available for peer review on github, we will be merging this repository into the main Cannacoin repository as a new branch upon release for proper maintainability and historical reference to older versions of the codebase.

https://github.com/Cannacoin-Project/ccn-redd/

Final note, for anyone with questions about "how does the new network work?" we are planning a release of a completed Cannacoin FAQ with lots of details pertaining to the new proof-of-stake model, I should have this completed within the coming days. The FAQ covers a lot of the common questions as well as providing some technical insight into the inner workings of proof-of-stake with velocity.

-SubCreative

Thanks for the update!

[tokyopotato]

New Cannacoin wallet staking on the live testnet

[8-bit]

Glad to hear testnet went well! You guys deserve a break after all the work you've put into this : )

[popolite11]

that the news we are waiting for

[Cannacoin]

Cannacoin Proof-of-Stake Velocity: FAQ and Resources


http://cannacoin.cc/Cannacoin_PoSV_FAQ.pdf


http://cannacoin.cc/posv/

[LuckyKey]

Keep up the good work 

Great times ahead for Cannacoin!

[Razerglass]

Cannacoin Proof-of-Stake Velocity: FAQ and Resources


http://cannacoin.cc/Cannacoin_PoSV_FAQ.pdf


http://cannacoin.cc/posv/

Very nice work.

[tokyopotato]

Here you can see I am running two Cannacoin wallets on the same computer, one for the testnet (test blockchain) and one for the mainnet (real blockchain).  

We will be putting testnet coins into a testnet faucet for the community to participate and for developers to test their applications with!

You can see the test-net wallet is already staking.

[Cannacoin]

Cannacoin-QT PoSV v2.0.0.1 Released for Mac & Linux

New wallets for Mac and Linux are tested and available for download!  As planned the transition/hardfork to proof-of-stake is scheduled for block 370,000. Please make sure you update as soon as possible and as always BACKUP your wallet.dat!

[sirsmokesalot]

"It must be emphasised that PoSV is designed specifically for the digital social currency Reddcoin and is never intended to serve as a drop-in replacement for other cryptocurrencies that don't share the same economic and social goals. PoSV should be evaluated as a piece in the Reddcoin ecosystem and not stand-alone"

" In particular, Reddcoin is well positioned to ll the niche of a digital social currency that's tightly in-tegrated with human social interactions and acts as the yardstick to concretise and quantify people's intangible asset of social influence."

It appears that Reddcoin seeks to function like some type of "karma" points system. Is society that bad off where we need the gold star sticker every time we do something good. Pavlov was a genius. So for it to gain value people have to see the coin as something positive and want to have more of the coin than others have so that others think they are "the shit" for having more of something they have less of?  

I guess the function for figuring out coin age should be some where in the code if it is open for public viewing. Beyond me, but it would seem easy to "game" the system if you understand how coin age is figured out and such. That holds true to anything in life, if you understand how it works, you can make it function to your best interest. I bring this up because i noticed the open challenge to the public about trying to game the system in the faq lol

"In particular, the clone cannot adopt PoSV from inception because, as discussed in section 2, the mere knowledge of the eventual adoption of PoSV or PoS will lead to people hoarding from the very beginning. To achieve a fair and wide distribution, an element of surprise at protocol level plus dedicated eorts at community level are both indispensable."

+1 for that! Mission accomplished!

Can't wait for that windows wallet!

[tokyopotato]

I guess the function for figuring out coin age should be some where in the code if it is open for public viewing. Beyond me, but it would seem easy to "game" the system

The code is there to see... you can attempt to "game the system" but in order to game the system you have to make a compromise which is that you have to stop staking in order to try and stake more coins in the future.

I think the best way to "game" the system is to move the coins every 45 days.  Just send all your coins from one wallet to another to reset the coin age. 

The amount of time it would take to analyze the function and figure out a function to game the existing function would take so much time and energy it would hardly be economical.

Regardless, the protocol is still very young and it's entirely possible in 6 months we will update the protocol with more advanced features and refined parameters.

[KinkyPool]

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