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agent725
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October 18, 2014, 11:13:22 PM
 #1





WHAT The Internet of Coins aims to create a decentralized, self-sustaining economy by implementing intersystemic connectivity. Not through centralized exchanges, nor federated partnerships, or multigateways, but sustained by a hybrid P2P meta-network to leverage each of its participant's strength in numbers. Our dream is to integrate all coins into an interconnected and financially liquid nervous system.




WHY Our goal is to make every cryptocurrency autonomously part of a large swarm of decentralized economic activity. We want to do this by enabling every cryptocurrency user to create hybrid assets that interconnect value systems and blockchains. We believe there are also some useless cloned coins and assets out there, however, we see a numerous amount of innovations with valuable technology worth saving from abandonment. This provides users with an easy to use way of transferring value, while  providing businesses with a backend solution for accepting multiple  currencies.




HOW The parallel network will be run by anyone that uses the hybridd daemon. Being an allocator and part of the network is rewarded through network fees. Existing wallets and technologies need no changes or adaptations at all to have their blockchains and value systems hooked into this decentralized network. The current developments in cryptocurrencies are brimming with creativity, and we would like to see this continue in parallel, without imposing any limits. Please read our whitepaper for more details.




Public appearances:

- Bitcoinference Amsterdam Summer 2014, the Netherlands
- Ethereum & Bitcoin meetups Amsterdam, the Netherlands
- Bitcoin Wednesday meetups Amsterdam, the Netherlands
- 'Biljetten en bitcoins', Utrecht, the Netherlands
- Bitcoin 2 Business, Brussels, Belgium
- Bitcoin meetup Gent, Belgium
- Arnhem Bitcoin City, the Netherlands
- Crypto Money Expo, international
- Bitcoinference Amsterdam 2015, The Netherlands
- Virtual Bitcoin Expo, international
- Bitcoin, Blockchain, Beer 2016, The Netherlands


The team:

We are Joachim de Koning, Robert de Groot, Jelle Herold, Amadeus de Koning and Sergey Kazenyuk. You can read more about us on the Team page.


Current developments:

We started in the beginning of the summer of 2014. A working prototype, Hybrid Assets has been online with a prototype asset 'Stormwind' since June 2014.
Our website came online at the end of August 2014. It is our main communication channel where we talk about the project in our blogs. You can also converse with us via Twitter.

From August onwards, we started spreading news about the project at conferences and began talks with initial investors. November 1st 2014, we released a press release announcing an investment and development partnership from Bitalo. On the 6th birthday of the blockchain, January 3rd 2015, we released our whitepaper and became the first officially supported project of the Dutch Bitcoin Embassy.


Do you have a whitepaper?

Yes. You can download it from our website.


Can I personally invest?

Not as of now. We are currently in the pre-launch phase, where we prefer to work with entrepreneurs and companies that are willing to pioneer with us and can bear risk. If you are an entrepreneur or investor, feel free to contact us. We do not want any user to bet his wage on the financial risks of a newly established project, but aim for an evolutionary growth. When we have secured enough pre-launch capital to ensure continuous development, it will be possible to buy into the hybrid assets used to bootstrap the system.


What sets you apart from other projects?

By being a distributed autonomous organisation, instead of a foundation or corporation, we want to ensure the impartial evolution of this project. In our project there is no discrimination. Any cryptocurrency, or even  ledgerless technology, can be hooked into the Internet of Coins in order for an open market to develop. We avoid blockchain bloat by utilizing a parallel P2P communications network.

The system does not require the existing technology behind a blockchain to be adapted or updated. Our approach is modular and aims at setting solid standards in the cryptosphere on which next generation financial solutions can be built. We are building a technology for participants in the cryptosphere to use on their own. This is a system which is open source and can be used as a transaction tool by any company or person, either directly or as a backend solution.

A while back we shared our vision in an article on Cointelegraph.

Feel free to ask questions!


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Armis
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October 19, 2014, 06:43:29 AM
 #2

let me know if your want some free publicity for your project


btw, always do videos of your presentations then post them to youtube

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October 19, 2014, 06:52:37 AM
 #3

Hi guys! Sorry for my spamming of the cryptocoinsnews. I just got mad because I like hybrid assets and what you're doing and thought XC is doing a ripoff. They make all kinds of promises for new technologies and then people believe it and throw the money at them. I was scammed on Bittrex before and it felt like an abuse of trust. That made me avoid all  crypto for a long time..

Anyway, a few hours ago I registered, and got nice directions from someone to find your thread. So there's nice people on here too.

Already I have a queston. Will the daemon of your system run on both TOR and I2P at the same time? Because I thought they were very different.

☆☆☆ I ♥ all altcoins! ☆☆☆
agent725
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October 19, 2014, 01:20:57 PM
 #4

Hi Armis, thanks! Sending you a PM.


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Dotrego
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October 20, 2014, 10:01:31 AM
 #5

Hi guys! Sorry for my spamming of the cryptocoinsnews. I just got mad because I like hybrid assets and what you're doing and thought XC is doing a ripoff. They make all kinds of promises for new technologies and then people believe it and throw the money at them. I was scammed on Bittrex before and it felt like an abuse of trust. That made me avoid all  crypto for a long time..

Anyway, a few hours ago I registered, and got nice directions from someone to find your thread. So there's nice people on here too.

Already I have a queston. Will the daemon of your system run on both TOR and I2P at the same time? Because I thought they were very different.

Hi George, welcome to the forum. Yes, the client will be hooked up to both. We will initially focus on the use of TOR, however we aim to support both (and perhaps more if time permits us). Which is why we are going with a modular approach, so we can continue to support the client with new updates and plugins one at a time. A TOR binary is included, in case the user does not have an existing connection.

agent725
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October 20, 2014, 06:24:23 PM
 #6






Couldn't resist doing some touching up of this picture in the GIMP.  Grin



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October 20, 2014, 06:56:11 PM
 #7

Is this an actual WIP then of a decentralised exchange that a lot of people have been wanting to work on for years now? Do you have any screenshots or whitepaper to look at?
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October 20, 2014, 11:41:56 PM
 #8

Yes. We are currently finalizing our whitepaper, which will be published soon here and on the website. The first hybrid asset has been running since June as a testcase. We will take the code of the project to Github once it hits beta.

By the way: if you notice any assets on exchanges currently claiming to be ours, don't invest. We are in talks with a few institutional investors for now.

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October 21, 2014, 01:17:46 AM
 #9

do you know what platform the asset IPO will be listed on?






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ULTIMATE ASSET/CUSTOM TOKEN BLOCKCHAIN PLATFORM







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October 21, 2014, 09:24:51 AM
 #10

You are my favorite project  Grin and I added u to the list of favorite projects on the proj.dev board!

Yes, I also want to know if where you are doing IPO, or only investors you pick 'n choose?!

☆☆☆ I ♥ all altcoins! ☆☆☆
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October 21, 2014, 11:21:57 AM
 #11

Thanks George, very kind of you. Looks like a nice list.

An IPO will not be done until the project has some investment as a basis to ensure continuity. The reason we are currently aiming for institutional investors (entrepreneurs & companies) is that we would prefer to limit exposing individual users to the initial risk of a new venture.

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October 21, 2014, 09:02:37 PM
 #12

Updated our initial post with some more information.


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October 21, 2014, 10:13:26 PM
 #13

agent725, I'm surprised I haven't heard from you.

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October 22, 2014, 09:34:17 AM
 #14

Sent you a PM.


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CIYAM
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October 22, 2014, 09:38:07 AM
 #15

You would be most welcome to use this: http://ciyam.org/at

(a bounty to get an atomic cross-chain transfer between Qora and a Bitcoin/Litecoin clone has been created and it is hoped this will be achieved before the end of 2014)

With CIYAM anyone can create 100% generated C++ web applications in literally minutes.

GPG Public Key | 1ciyam3htJit1feGa26p2wQ4aw6KFTejU
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October 22, 2014, 05:22:02 PM
 #16

interesting, keeping watch.

Good Luck For Everyone!
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October 22, 2014, 09:24:38 PM
 #17

Hey devs!! Shall I make some nice pictures for the project? Working with photoshop is fun! Grin

☆☆☆ I ♥ all altcoins! ☆☆☆
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October 22, 2014, 11:50:42 PM
 #18

As long as they're not hurtful to others... Smiley

For anyone looking for more information, I posted a video of a presentation at the beginning of September where Joachim explains the concept in more detail. We like to use tangible examples:
http://internetofcoins.org/blog/2014-09-03-bitcoinference-summer-2014-the-internet-of-coins-in-pictures

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October 23, 2014, 08:24:48 AM
 #19

CIYAM, I took a look at your link. Good stuff there! We'll study your method and share it with a developer who may be helping us out on this. We also are looking at high-level approaches, and I think we should combine both. I.e., first try to transact atomically, and where that cannot be done, fallback to multisig., RPC controlled hacks. At the BTC2B in Brussels Vitalik Buterin told me to look into threshold cryptography, which I am doing, and looking to see what the pro's and con's are of utilizing it.

Yesterday I wrote this article, which Armis also published. If you have technical knowledge, please don't hesitate to correct me where I'm wrong. Also, if you are not technical, any other feedback is also much appreciated. Smiley


/// TITLE: Building Interconnection, We Need Eclectic Methodology

There are mainly two contrasting approaches when it comes to inter-blockchain connectivity; high-level and low-level. Both are equally important, but approach either the fundamentals or numerics of blockchain conglomeration. To create something like an Internet of Coins, we need to use both approaches concurrently and eclectically.

It could be compared to the way Michaelangelo worked to create one of his artful statues. Some of the chipping of the stone had to be done with large chisels and firm blows of the hammer. A high level approach to result in the basic and recognizable shapes of the rock being hewn. Yet simultaneously, he had to work with the utmost caution, scraping out the tiniest details to accentuate the shape of muscles and hair. The results of this combination are an artwork.

High-level connectivity focuses mainly on the controlling aspect of value trading. To make sure that one transaction finishes before sharing the access keys to another initiation for transaction can essentially be done from a high-level protocol. For example, it could be an RPC calling script that controls two daemons for different cryptocurrencies to make an allocated trade between them possible.

Low-level connectivity delves down to byte-level transactions to make atomic cross-chain trades possible. In this case two transactions are meticulously crafted using advanced cryptographic programming, by which an atomic script ensures instantaneous escrow between blockchain constructs. Assembly-like language is used to describe this process.

Both approaches contain very useful and some deterring aspects, and thus must both be held up to scrutiny. Combining them in tandem is even more of a challenge, as it requires an eclectic overview and understanding of different technologies, their strengths and weaknesses, and how they may by combined most securely and efficiently.

In another comparison it is creating a thing of architectural beauty, like for example the Obuda Synagogue, St. Nicholas Cathedral Kronstadt, or the Taj Mahal. Any one of these three architectural beauties has taken great skill in prestigious, high-level architecture as well as patiently crafted, low-level ornamental detail.

Many high-level solutions are potentially compatible even towards systems that very much differ in their underlying implementation. However, the high-level approach is difficult to properly secure, and needs a parallel cryptographic network to function safely. It also leaves open security holes in every gap between the high-level construct itself and its controlled daemon subject. Perhaps it is also easier to infuse with malware, as high-level programming is often more easily understood, and agile to work with.

The low-level approach is most robust when applied properly, besides being light weight, and can outlast high-level systemic changes. Even so, it requires very skilled programmers and presents tough cryptographic puzzles to solve. In some cases it can lead to a quest for a holy grail that is most difficult, if not near-impossible to reach in a timely manner. And if a vulnerability is ever found at a later stage, it may be very difficult to find those qualified to repair such a weakness.

To make an internet of coins possible, we need both approaches, and we must patiently find the way for us as craftsmen to all build it together.


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Ian Knowles - CIYAM Lead Developer


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October 23, 2014, 08:45:12 AM
 #20

I think that your article reads reasonably well - also note that I will be publishing the AT *API* specification tomorrow (and raising the bounty - if you guys are able to add to that bounty or - better still - try and collect it then that would be great).

The AT API spec combined with this http://ciyam.org/at/at_script.html should make the job of integrating AT with a Bitcoin clone fairly straight forward (if I wasn't so busy working on other things I'd give it a go myself).

The actual atomic cross-chain transfer AT will be provided by CIYAM either later this month or early next month but in short it will work in the same manner as the published nLockTime approach for Bitcoin (but rather than needing nLockTime to be implemented in both "mainnets" you will just need AT to be supported in both).

The new AT will be somewhat like the Dormant Funds Transfer (this is the refund part) but each AT will also contain a SHA256 hash value (whoever publishes their AT first is the one who knows the "secret"). Provided a message "that is the secret" is received by the AT (checked by hashing and comparing to the hard-coded expected hash) and that this occurs before the refund has happened then the AT will store the secret (making it now publicly visible in the ATs state) and of course transfer the funds.

The other AT on the other block chain then just needs to be sent the same secret in order for it to do the other part (again before it refunds). The AT will most likely be designed for re-use as well (so each trader would have their own).

As in the nLockTime approach the refund times need to have a reasonably large difference (say 1 hour for person going 1st and 3 hours for person going second).

Note that to send "messages" for Bitcoin clones OP_RETURN would be used.

With CIYAM anyone can create 100% generated C++ web applications in literally minutes.

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