[ANN] the Internet of Coins

[TomcioxPL]

-

[suphakrit2012]

It is a good idea too. I encourage you to do it quickly. It will benefit for other people. Fighting!!! 

[Dotrego]

Hi everyone

Now that the crowdfunding website is live at Coinstorm.net, we´ve started a new thread to keep everyone updated on the campaign.
Will post dev blogs and updates here: https://bitcointalk.org/index.php?topic=1760129

To stay informed about the crowdfund, you can check out Coinstorm.net as well and leave an e-mail address. We´ll be sending updates about the campaign, dev blogs and tech updates.

[internetofcoin]

Lets rock the launch on 21st March 2017. I am Eagerly waiting for its launch

[topesis]

What I don't get about this project is that it seems to me as a discentralised exchange, also why do I need Internet of coins tokens.

[tyz]

Interesting concept. On the first reading, the whole principle reminded me on SuperNet which also claims to be a kind of internet of coins. How is the approach fundamentally different?

[Dotrego]

What I don't get about this project is that it seems to me as a discentralised exchange, also why do I need Internet of coins tokens.

We start with the multiwallet, release end of this summer. Then we add Shapeshift functionality, then the option to run your own DEX. (See the roadmap.)

The tokens form the bridge between blockchains; not all chains support multisignature for atomic transactions. It is an approach we chose because it works on all types of chains. The client can choose from multiple ways to transfer value, atomic being the mode of preference.

Plus, the crowdfund gives us the opportunity to scale up development. We have funded the development with a small team and research grants first. Now that we have a working prototype (see GitHub) we chose to crowdfund. Because crowdfunds based on nothing but promises only suck.


@tyz; Agent725 will respond to you. James (Jl777) had a similar idea when we started in 2014, the approach turned out to be different in our projects.

[memequiserle]

internet of coins is very long time project
the first idea in 2014 , and now project is run and open ico selling
i hope ico selling succes so project can run, because good idea and good project

[agent725]

@tyz: We published our whitepaper just before SuperNET was announced. Indeed the projects look similar, but there are some notable differences.

First of all, back at the time, coins that are to be part of SuperNET had to alter their code to be able to participate in it. We differ from that in that we have created a modular approach in which coins need to make no changes to their codebase.

These days SuperNET it looks like parts of it have been rebranded to Komodo and Iguana. The code of SuperNET is written in low-level C. We have designed our system in NodeJS, and continuously approach other systems from a meta-perspective.

The "Shapeshift" functionality @Dotrego mentions is the ability to swap coins in an easy way, without having to be a trader or know how to use an orderbook. Instead liquidity is provided by allocators on the network that create

We have a unique take on inter-blockchain connectivity which is hybrid assets. This type of asset can exist on multiple blockchains simultaneously, spreading the technical risk, and making for an automated, diversified portfolio. Hybrid assets can also be used to transfer value between the blockchains they operate on.

For the rest, our approach is not-for-profit, which is different than the approach many other cryptocurrency projects have. We want to ensure our platform stays objective and independent of profit-oriented objectives. This way we can ensure to be inclusive to the entire cryptocurrency market, and not only the financially more powerful parts of it.

[agent725]

  Woot woot!

[laugh2btc]

How many coins are needed to become an allocator?

[Dotrego]

How many coins are needed to become an allocator?

You need to be hosting at least 2 types. (One for incoming value, one for the outgoing value). The client can take care of this for you under the hood.
As for reserves, in theory anything from 1 satoshi and up can be used to swap. For the incoming currency, in theory you wouldn't need any reserves as long as you can perform the payout of the outgoing value on the other chain.

Of course, a higher contribution in reserves opens you up for bigger transactions as an allocator, or more simultaneous transactions. Successful transactions add up to a good reputation on the network,  giving preference over others and earning you more.

[redhero]

find the original post

[Dotrego]

Update: most of the project news is of course currently happening in the thread for our crowdfunding campaign.

We have recently surpassed $300,000.- in funding for development and have now launched both a Twitter and signature campaign.

Albeit the distraction of the campaign, development has continued. You can find a presentation about the current status here.

We thank everyone for their interest in the project

[P E K K A]

why you dont update thread?

[Dotrego]

why you dont update thread?

Hi!

Due to the current fundraiser we have organized, most of our efforts are made towards the campaign which we are updating everyone on here and in our newsletters (for which you can sign up here). Last update: recently the ERC20 token for the Ethereum chain was released.

We have several bounty campaigns as well, if anyone is interested. After the HYBRID distribution in July, we will focus more on posting about our tech updates again.

[DWW]

Hi,

I was searching for a decentralized exchange and came upon this project. All with all, I find it very impressive what you're trying to establish and therefore would love to fund you guys. However, one thing I do not completely understand: What is the added value of Hybrid? If I rephrase you correctly you state that: "Hybrid can be used as an intermediar when a blockchain does not support multie signature for atomic transactions".  Can you list examples of blockchains which do not support multi signature?

Also I cannot find anything about the total supply of Hybrid. Did you ignore this on purpose? If not, can you state the number in your answer?

Greetings,
Daan

[Dotrego]

Hi Daan, thank you for your interest

However, one thing I do not completely understand: What is the added value of Hybrid? If I rephrase you correctly you state that: "Hybrid can be used as an intermediar when a blockchain does not support multie signature for atomic transactions". Can you list examples of blockchains which do not support multi signature?

I'll ask Agent725 to post some example situations. In general, I was referring to the incompatibility of writing a transaction (value) from one blockchain to another. (Since the start of the project, the support of multisignature has become more common.)

Because the HYBRIDs we created are indexed on their own metalayer (the 'weavechain' we published a bit about) they can actually be matched by an escrow in the network. The resulting transactions are written to the blockchains themselves, so the match for the transactions in the weavechain can afterwards be discarded. Atomic transactions are an alternative, just like the protocol Interledger is creating... there are multiple approaches. We try to incorporate our solution as well, to make sure there is maximum inclusiveness. Most new initiatives only support trading on a specific chain, or favor the top list at Coinmarketcap. We want to make sure this becomes a decentralized exchange where anyone can implement support for an asset or currency, including the ones which are just used locally. (Like with our test group)

Also I cannot find anything about the total supply of Hybrid.

There is a maximum of 7,000,000 (1,000,000 per asset system). They will be released to participants in July, after the crowdfund period has ended June 21st. The unissued ones will be burned, similar to what Counterparty did.


And... if you want to test the first public version of the system, you can do so here via TOR. We now support Bitcoin and Lisk:

Alpha Wallet v0.2
"just a wallet"



Live now for testing on TOR!

http://kth3qittpclsdrk6.onion/

This alpha release contains recipe's for Bitcoin and Lisk, and
makes it possible to send and receive these cryptocurrencies.
We want to test the use and security of deterministic transactions
and the code infrastructure thoroughly before building towards
more advanced functionality.

Have fun, and please give us your feedback!

[notindexed]

I just started an unofficial IOC community Telegram channel since there's none yet.


https://t.me/coinstorm

[llildur]

I didn't receive my HYBRID AFAIK only the NXT chain is pending in the distribution, i participated in the crowdfund with BTS any help?