[ANN] SMLY- smileycoin - for rewards in education

[Bimmerhead]

Perhaps another way to control fake accounts would be a sort of PoS+PoW (where the 'W' in PoW is Work performed completing exercises). It could be something like this:

-student logs in by demonstrating ownership of a particular SMLY coin address
-the reward they earn for completing a task is proportional to the amount of SMLY in the address

The problem with this is that it would also incentivize hoarding, meaning nobody would spend their SMLY at the University cafeteria - bad!

So, instead of basing the reward on the amount of SMLY in an address, the reward is based on the amount of SMLY the address has previously earned from Tutorweb irregardless of whether that amount is still in that address.

[1713481021]

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[1713481021]

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[1713481021]

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[gstefans]

Perhaps another way to control fake accounts would be a sort of PoS+PoW (where the 'W' in PoW is Work performed completing exercises). It could be something like this:

-student logs in by demonstrating ownership of a particular SMLY coin address
-the reward they earn for completing a task is proportional to the amount of SMLY in the address

The problem with this is that it would also incentivize hoarding, meaning nobody would spend their SMLY at the University cafeteria - bad!

So, instead of basing the reward on the amount of SMLY in an address, the reward is based on the amount of SMLY the address has previously earned from Tutorweb irregardless of whether that amount is still in that address.

That's a new one: One could give minor rewards for the first few lectures and then increase them as students complete more material.

This is definitely food for thought!

[gstefans]

Perhaps another way to control fake accounts would be a sort of PoS+PoW (where the 'W' in PoW is Work performed completing exercises). It could be something like this:

-student logs in by demonstrating ownership of a particular SMLY coin address
-the reward they earn for completing a task is proportional to the amount of SMLY in the address

The problem with this is that it would also incentivize hoarding, meaning nobody would spend their SMLY at the University cafeteria - bad!

So, instead of basing the reward on the amount of SMLY in an address, the reward is based on the amount of SMLY the address has previously earned from Tutorweb irregardless of whether that amount is still in that address.

That's a new one: One could give minor rewards for the first few lectures and then increase them as students complete more material.

This is definitely food for thought!

The functionality of rewarding with progressively more SMLY as the student finishes more lectures can be done purely within the tutor-web system, i.e. without knowing the payment SMLY address. Until now we have just had the rewards inside the system until the students choose to redeem their SMLY.

But we've learned that most students just ignore the SMLY (which is why we've set a deadline, after which the SMLY just get donated).

Your idea to link the rewards/amounts explicitly to a registered SMLY address gives an added benefit: It would allow us to reward with some bonus those students who have downloaded a SMLY wallet. So we can direct increased SMLY rewards at those who have shown an interest in SMLY.

Cool, really cool.

Unless someone sees a problem, we should just implement this!

[Bimmerhead]

The functionality of rewarding with progressively more SMLY as the student finishes more lectures can be done purely within the tutor-web system, i.e. without knowing the payment SMLY address. Until now we have just had the rewards inside the system until the students choose to redeem their SMLY.

But we've learned that most students just ignore the SMLY (which is why we've set a deadline, after which the SMLY just get donated).

Your idea to link the rewards/amounts explicitly to a registered SMLY address gives an added benefit: It would allow us to reward with some bonus those students who have downloaded a SMLY wallet. So we can direct increased SMLY rewards at those who have shown an interest in SMLY.

Cool, really cool.

Unless someone sees a problem, we should just implement this!

So currently most students aren't taking possession of their SMLY? They're just doing the exercises for the educational benefit and/or fun?

[gstefans]

The functionality of rewarding with progressively more SMLY as the student finishes more lectures can be done purely within the tutor-web system, i.e. without knowing the payment SMLY address. Until now we have just had the rewards inside the system until the students choose to redeem their SMLY.

But we've learned that most students just ignore the SMLY (which is why we've set a deadline, after which the SMLY just get donated).

Your idea to link the rewards/amounts explicitly to a registered SMLY address gives an added benefit: It would allow us to reward with some bonus those students who have downloaded a SMLY wallet. So we can direct increased SMLY rewards at those who have shown an interest in SMLY.

Cool, really cool.

Unless someone sees a problem, we should just implement this!

So currently most students aren't taking possession of their SMLY? They're just doing the exercises for the educational benefit and/or fun?

Usually they do the exercises because an instructor tells them to  

[Bimmerhead]

Usually they do the exercises because an instructor tells them to  

Maybe the instructor should get the uncollected coins.

Now there's an incentive program that could help SMLY!

[gstefans]

There was an interesting TEDxReykjavík event last week, with a discussion on cryptocurrencies, Auroracoin and Smileycoin along with lots of other good stuff. This was apparently streamed and the video is here: https://www.facebook.com/tedxreykjavik/videos/vb.247509705110/10158402844995111/?type=2&theater/

[moderneco]

The TEDxReykjavíkSalon: Beyond Economy can be found here also:
https://medium.com/tedxreykjavik/tedxreykjav%C3%ADksalon-beyond-economy-69eb080b5c53

[Winglessss]

What happened the market just fell off

[gstefans]

What happened the market just fell off

Someone is selling a bunch of SMLY...

[gstefans]

A request like this is being sent to all exchanges with markets for SMLY:

I would like to suggest that your exchange increase the number of confirmations required for SMLY deposits to 70.

The reason: one exchange apparently had a 51%-style attack using SMLY, where someone deposited SMLY, sold them and then opened another chain where the deposit did not exist.

I don't *know* this, but the sysadmin pointed out inconsistencies and there are indeed lost transactions. I can't see any other explanation that a directed attack at that exchange.

There are 60 SMLY blocks between re-evaluations of difficulty, which bounces wildly at the moment. If you set a 70-block requirement, then that can lead to a 24-hour delay in deposits followed by a very fast 60-block generation.

I would prefer safe than sorry, but it is your call of course...and any suggestions you have are most appreciated.

Gunnar

PS We will change the mining algorithms and use of the coinbase this coming summer. All of the above should then become much less of a problem.

[gstefans]

The c-cex exchange still has our wallet listed as in "maintenance".

Other exchanges have verified that there is no problem with our wallet and they have seen no problems with our blockchain.

EDIT:
cryptopia is investigating network issues with the SMLY.

[gstefans]

Back to this:

So March is almost over and there have been no objections. Also we have secured funds and people to implement stuff.

We will therefore start implementing the following changes in summer:

• Add X11 as a second mining algorithm
• Change the 10,000 SMLY block reward allocation: 1,000 to the miner; 4,500 to large SMLY holders; 4,500 as donations

A large SMLY holder is any address holding at least 25 M SMLY (i.e. untouched for some time, initially about 1.5 hours).

A collection of (10?) rotating donation addresses will be in the hands of the non-profit organisation Education in a suitcase (normally as cold storage). Suggestions on how to use the donations can be raised on this list.

It's now summer - sort of, in Iceland  - so this work has started.

In addition to the above, it's been suggested to add more algorithms than just X11 and we will try to do that; preferably something that can still be mined using just a CPU or GPU (given that there are ASICs for X11). The actual number of algorithms depends on how much code can be borrowed from other coins. Auroracoin comes to mind here but if you have suggestions on where to look for good multi-algo implementations, by all means let us know.

Here is the fair warning: This will end up with a hard fork in late summer.

[gstefans]

Does anyone have objections to reducing the maximum difficulty change for SMLY from a factor of 4 to 1.2?

[Bimmerhead]

nope

[Lw2017]

Network issues on cryptopia?

[gstefans]

Yeah, the folks at cryptopia are trying to figure out what the problem is.

Novaexchange is open for trading SMLY.

[Lw2017]

can someone link me to what i use to mine smiley coins>?

[gstefans]

can someone link me to what i use to mine smiley coins>?

If you look above, you will see that the wallets are being changed this summer to allow more options.

At the moment mining is done using scrypt and you will want to join a pool. This will change later this summer.

How you do this completely depends on what kind of hardware you have for mining.

For more info see the official SMLY information page at http://tutor-web.info/smileycoin

[gstefans]

Time for a status report.

First the bad news:

As you will have noticed, both c-cex and cryptopia have frozen the SMLY wallets so the SMLY can no longer be traded at those exchanges but it can be traded at novaexchange.

c-cex has stated that they have lost a lot of coins and are not happy with this. One possible reason may be a 51% attack back in March or so. They have not answered our requests for what needs to be done for them to reopen for trading.

cryptopia has said that they are investigating a possible fork. They have given no answer to questions on how long this may take or how it is coming along.

Decisions made at c-cex and cryptopia are not in our hands nor much we can do about these things other than to try to improve the SMLY. If you have SMLY at either exchange, your best bet is to ask their admins.

Next the positive news:

We have a team working on improving the SMLY as earlier planned. This includes multiple mining algorithms and changes to the coinbase split as discussed earlier.

The intention is to make the SMLY more robust and better behaved wrt difficulty, regular block generation and less susceptible to attack.

The plan is therefore is to complete the above development and to ask c-cex and cryptopia to re-evaluate their position, late this summer.