[ANN] [GDGC] GadgetCoin | IoT | M2M |Smart Contracts on Hardware

[altcoinUK]

As I said, I am very interested in smart contracts technology and all IoT related coins (I am bombarding with smart contract ideas the VeriCoin devs for months :-))).

I did my research about BitBay, TileCoin (XTC) and GadgetCoin, the underlying tech and asked the same questions about transaction time and real time hardware control in all threads.

The TileCoin team didn't even bother to answer, it seems either they don't have the answer or don't understand the significance of transaction time in real time hardware control.

At BitBay Dave, a very knowledgeable, well known developer answered, but he skipped the question about IoT and real time hardware control. I am sure they will have the smart contract software, decentralized exchange, marketplace, etc but it seems to me their focus is certainly not on the Internet of Things (IoT) element of the solution.

The GadgetCoin dev hasn't ignored my question. GDC claims 1 second transaction time and explains clearly the technology behind the software, namely Ethereum's account balance concept and transaction processor nodes instead of miners. (I like the fact that the GDC dev understands the significance of the Ethereum's tech and willing to learn from other solutions)

If GadgetCoin works then I am very interested in this venture. Here in the United Kingdom we have a massive market for an IoT management and payment platform like GadgetCoin is, not mention the +20 billion worldwide market which is ready for a working solution. Please let me know when we can test the software and most importantly, how can we make money from this coin?

Hi AltcoinUK,

We agree with your assessment that the UK market could be potentially huge for this venture, and indeed the market is crying out for a working solution. That's why it's important for us to focus 100% on getting this software ready for the community to test now. The sooner we can get feedback the sooner we can start approaching some big players in the market for integration and pilot project opportunities.

Thank you for your continued interest, and it's nice to see some early support already, we will try to continue being as transparent and open to communication as possible. This is a community venture after all.

With regards to how we are going to make money, we will make clear the monetization strategy in the coming days, so stay tuned to this thread. We will also PM you the credentials to use our test network and software.

Great. I will be glad to sell your development board and smart contract technology in the UK & Ireland market. Give me exclusive rights for selling here the development board :-))) I will make a call to my friend he has a few self storage facilities, if we can get self storages using the GDC technology to open storage doors (as your white paper describes it) then that could be huge and game changer in the hardware control application business.

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[TheInfidel]

This is certainly a breath of fresh air in the Crypto cesspool.
Watching real close.
This is something that can be implemented into existing businesses.

Looking forward to seeing more.

Good luck

[tylerderden]

so what more bullshit ico or is it mineable?

[altcoinUK]

so what more bullshit ico or is it mineable?

It seems to me it is not mineable, as the DEV explains it, the instant transaction processing won't make possible the mining. If miners confirm the transaction, then the transaction cannot be instant.

It was said to us there is no "up front money collecting" from investors. I hope they will distribute the coins for free like BRO promised it :-)))

[Youghoor]

so what more bullshit ico or is it mineable?

ico is more of a kind.

[albert_mt]

I invested in BitBay today and I am looking forward to investing in GadgetCoin     to keep my Internet of Things eggs in two baskets       I have a feeling that both will be fine  

[altcoinUK]

I invested in BitBay today and I am looking forward to investing in GadgetCoin     to keep my Internet of Things eggs in two baskets       I have a feeling that both will be fine  

It's a smart move to diversify your investment but you will have not the same type of eggs, as BitBay and GadgetCoin seems to me are two very different eggs. I just had a very long chat with David Zimbeck the BitBay lead developer, he is a very nice guy and obviously a very knowledgeable software engineer, and he confirmed that BitBay will not work on IoT software, but they will try implementing a Mesh Network. So based on what the lead developer said your BitBay egg is not an IoT egg.

Though it doesn't really matter, in my opinion both BitBay and GadgetCoin are exciting technologies.

[mtomcdev]

Thank you every one for your interest.

We have asked the device assembly factory to speed up the manufacturing of the development board. To keep the size small we use plenty of 0402 size capacitors and resistors, and the board requires a precision SMD manufacturing process. Fortunately, it seems the factory could allocate a slot and the board will be manufactured sooner than we expected and we will be able to ship the board soon. This Zigbee/WiFi enabled board will be a great starting point for hardware integrators to develop IoT applications. We will keep you informed.

[albert_mt]

I invested in BitBay today and I am looking forward to investing in GadgetCoin     to keep my Internet of Things eggs in two baskets       I have a feeling that both will be fine  

It's a smart move to diversify your investment but you will have not the same type of eggs, as BitBay and GadgetCoin seems to me are two very different eggs. I just had a very long chat with David Zimbeck the BitBay lead developer, he is a very nice guy and obviously a very knowledgeable software engineer, and he confirmed that BitBay will not work on IoT software, but they will try implementing a Mesh Network. So based on what the lead developer said your BitBay egg is not an IoT egg.

Though it doesn't really matter, in my opinion both BitBay and GadgetCoin are exciting technologies.

Cool 

Question to mtomcdev, what will be the retail price of the development board hardware?

[mtomcdev]

I invested in BitBay today and I am looking forward to investing in GadgetCoin     to keep my Internet of Things eggs in two baskets       I have a feeling that both will be fine  

It's a smart move to diversify your investment but you will have not the same type of eggs, as BitBay and GadgetCoin seems to me are two very different eggs. I just had a very long chat with David Zimbeck the BitBay lead developer, he is a very nice guy and obviously a very knowledgeable software engineer, and he confirmed that BitBay will not work on IoT software, but they will try implementing a Mesh Network. So based on what the lead developer said your BitBay egg is not an IoT egg.

Though it doesn't really matter, in my opinion both BitBay and GadgetCoin are exciting technologies.

Cool 

Question to mtomcdev, what will be the retail price of the development board hardware?

We aim to keep the retail price under $50.00. We would like to hear from our supporters, whether the $50.00 price range is reasonable and correct for this device? Please check the schematics and let us know your opinion!

[mtomcdev]

We have just received the latest IoT white paper from Atmel. According to Atmel there will be 50 Billion connected IoT devices by 2020. Gartner projected 20 billion devices last year. It's very encouraging to hear from a reputable source that our chosen market is rapidly growing!

[albert_mt]

I invested in BitBay today and I am looking forward to investing in GadgetCoin     to keep my Internet of Things eggs in two baskets       I have a feeling that both will be fine  

It's a smart move to diversify your investment but you will have not the same type of eggs, as BitBay and GadgetCoin seems to me are two very different eggs. I just had a very long chat with David Zimbeck the BitBay lead developer, he is a very nice guy and obviously a very knowledgeable software engineer, and he confirmed that BitBay will not work on IoT software, but they will try implementing a Mesh Network. So based on what the lead developer said your BitBay egg is not an IoT egg.

Though it doesn't really matter, in my opinion both BitBay and GadgetCoin are exciting technologies.

Cool 

Question to mtomcdev, what will be the retail price of the development board hardware?

We aim to keep the retail price under $50.00. We would like to hear from our supporters, whether the $50.00 price range is reasonable and correct for this device? Please check the schematics and let us know your opinion!

I asked my friend, he is a geek and knows this stuff, he said $50.00 for a Zigbee & WiFi board is good price.

[albert_mt]

Wow, I just try to understand what smart contract is and I found something interesting 

https://bitcointalk.org/index.php?topic=428589.msg9531498#msg9531498

Ethereum has 2-3 seconds transaction time. gadgetcoin's transaction time is really 1 second?

[mtomcdev]

Wow, I just try to understand what smart contract is and I found something interesting  

https://bitcointalk.org/index.php?topic=428589.msg9531498#msg9531498

Ethereum has 2-3 seconds transaction time. gadgetcoin's transaction time is really 1 second?

I think that's a very important point and the poster is absolutely correct. Transaction time is probably the most important factor in smart contract processing. Digital currencies and smart contracts strive to compete with FIAT money, FIAT and stock exchanges. Having 10 minutes, 1 minute, 30 seconds transaction times that won't be possible when currently a FIAT transaction takes 100-250 milliseconds. Personally I worked with banking and currency trading software, and I can't remember any transaction logs where the transaction time was more than 500 milliseconds. This area is a bit overlooked by existing digital currencies. We learned a lot from Vitalik and Ethereum, and I think he is totally spot on with this one, just like with most of other design issues. I have to agree with Vitalik that smart contracts won't be able to replace conventional business processes with 10 minutes, not even with 20-30 seconds transaction time, especially not in hardware related applications.

I can confrim, our aim is that GadgetCoin to perform smart contracts within 1 second and you will be able to test this feature soon.

[chesthing]

10m coins $5/coin to start, do I have that right? if so you must hate investors.

[billotronic]

Will this also run on OpenWRT?

[gadgetcoin]

10m coins $5/coin to start, do I have that right? if so you must hate investors.

Hi there,

It's not going to be $5 per coin, as we mentioned on the first page, the $5 figure was a reference to the yearly fee for businesses using our network. We do not intend to collect $5/coin from early stage investors. Apologies if it was not clear enough

[mtomcdev]

Will this also run on OpenWRT?

Yes it will. Compared to bare-metal systems, our primary platforms or real time operating systems like FreeRTOS or Nucleus which is our secondary platform, OpenWRT is a powerful embedded Linux and will be perfect to run the software. It's quite good you have mentioned it, we discussed here earlier the potential of using our Gadget tech on routers, and OpenWRT is quite strong in that field, many routers run on OpenWRT. Before the release, the software will be definitely tested on OpenWRT!

[altcoinUK]

I invested in BitBay today and I am looking forward to investing in GadgetCoin     to keep my Internet of Things eggs in two baskets       I have a feeling that both will be fine  

It's a smart move to diversify your investment but you will have not the same type of eggs, as BitBay and GadgetCoin seems to me are two very different eggs. I just had a very long chat with David Zimbeck the BitBay lead developer, he is a very nice guy and obviously a very knowledgeable software engineer, and he confirmed that BitBay will not work on IoT software, but they will try implementing a Mesh Network. So based on what the lead developer said your BitBay egg is not an IoT egg.

Though it doesn't really matter, in my opinion both BitBay and GadgetCoin are exciting technologies.

Cool 

Question to mtomcdev, what will be the retail price of the development board hardware?

We aim to keep the retail price under $50.00. We would like to hear from our supporters, whether the $50.00 price range is reasonable and correct for this device? Please check the schematics and let us know your opinion!

With $50.00 price tag a Zigbee/WiFi enabled board is probably too cheap. Even this is an open source project, you can sell the service/product with profit. I would put the price at closer to $100.00. I checked the schematics, the board looks good, this is a dual radio network board which is quite rare, you could charge for such board a lot more than $50.00.

I like the idea of Zigbee/WiFi co-existence, it could be useful for many use cases, and of course for an IoT application you definitely need WiFi and most of the time Zigbee.

[albert_mt]

how you going to compete with ethereum and bitbay? too many coins try to do decentralized markets, exchanges, smart contracts.