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

[altcoinUK]

We are looking for test users to stress test the forging feature and security of the software. Please let us know if you are willing to run a peer node and we will create an account for you on the GadgetCoin test network. First we will run your node in our test network and later the node will run on your computer. It would be great if you could allow to run the node on a completely empty dedicated Linux virtual box to which we could remote log-in to monitor the node. The participating test nodes will forge coins and all coins will be transferred to the live genesis block to say thank you for your help in testing and finalizing the software.

I am happy to help. Our business have plenty of Linux virtual machines. These are low end 1 GB memory boxes. My understanding was from what you said in this thread that low end boxes could run the nodes. Do you need SSH access to the boxes? How many you need? 1, 5, 10? How many forged coin could we get from one node/box?

[1714028302]

1714028302

[1714028302]

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[1714028302]

1714028302

[mtomcdev]

We are looking for test users to stress test the forging feature and security of the software. Please let us know if you are willing to run a peer node and we will create an account for you on the GadgetCoin test network. First we will run your node in our test network and later the node will run on your computer. It would be great if you could allow to run the node on a completely empty dedicated Linux virtual box to which we could remote log-in to monitor the node. The participating test nodes will forge coins and all coins will be transferred to the live genesis block to say thank you for your help in testing and finalizing the software.

I am happy to help. Our business have plenty of Linux virtual machines. These are low end 1 GB memory boxes. My understanding was from what you said in this thread that low end boxes could run the nodes. Do you need SSH access to the boxes? How many you need? 1, 5, 10? How many forged coin could we get from one node/box?

Wow, thank you very much, 10 virtual box would be great and 1 GB memory would be more than enough. Could you email the access and login details to developers@gadgetcoin.org please? Also, please email the account names you want to use for each node. The account names you give us will be the live account name of the nodes as well. Alternatively, should we use the altcoinUK01 - altcoinUK10 account names?

The forging intensity determines the number of forged coins. Forging intensity is a configuration setting, similar to the Bitcoin difficulty setting. We start with a high setting value to reward our early adopters and helpers with "free" GadgetCoin, but we don't know exactly how many forged coins will be by the end of the test period. One of the purposes of the test is to fine tune and finalize our forging algorithm.

[altcoinUK]

We are looking for test users to stress test the forging feature and security of the software. Please let us know if you are willing to run a peer node and we will create an account for you on the GadgetCoin test network. First we will run your node in our test network and later the node will run on your computer. It would be great if you could allow to run the node on a completely empty dedicated Linux virtual box to which we could remote log-in to monitor the node. The participating test nodes will forge coins and all coins will be transferred to the live genesis block to say thank you for your help in testing and finalizing the software.

I am happy to help. Our business have plenty of Linux virtual machines. These are low end 1 GB memory boxes. My understanding was from what you said in this thread that low end boxes could run the nodes. Do you need SSH access to the boxes? How many you need? 1, 5, 10? How many forged coin could we get from one node/box?

Wow, thank you very much, 10 virtual box would be great and 1 GB memory would be more than enough. Could you email the access and login details to developers@gadgetcoin.org please? Also, please email the account names you want to use for each node. The account names you give us will be the live account name of the nodes as well. Alternatively, should we use the altcoinUK01 - altcoinUK10 account names?

The forging intensity determines the number of forged coins. Forging intensity is a configuration setting, similar to the Bitcoin difficulty setting. We start with a high setting value to reward our early adopters and helpers with "free" GadgetCoin, but we don't know exactly how many forged coins will be by the end of the test period. One of the purposes of the test is to fine tune and finalize our forging algorithm.

No problem, I am happy to help, especially if the forged coins will be redeemed in the live network. I will email you the requested config details and don't create the node accounts, I will email you the account names I want to use.

[zsp]

I can make my linux virtual server available for a test. I will email you the details.

[mtomcdev]

Thank you all for your wonderful support in this thread and sent to us directly in emails! We will try to allocate the participating nodes equally to allow for everyone to forge coins. We are configuring the test nodes and the the test will be started in the next few days, so please keep the virtual machines running.

[mtomcdev]

There were questions why the test is necessary in such a large scale with many virtual machines? GadgetCoin is a completely new system that is written from scratch to implement the smart contract concept that fits into the Internet of Things paradigm. The system doesn't include any software codes from Bitcoin nor any altcoins and as it's the case with every new system we need to be extra careful to ensure that the system is robust and secure.

[Edward_Cryptonit]

Thank you for all the valuable discussion here. Have been following this thread for a while.

Any feedback concerning the distribution model though?

Regards
Edward

The distribution model hasn't been finalized yet. We're still looking for more feedback from the community.

Thank you for your interest! Your Cryptonit exchange, which is by the way a very nicely done crypto currency exchange, sets an exemplary standard by listing only open source software based currencies. Thanks, and it's really great to see you here!

Thank you for feedback, appreciate it. We are really admire the targets, which Gadgetcoin is aiming for. We are following the development closely and would be glad to adopt on the early stages.

Regards

[mtomcdev]

Development Update

Thank you all for helping us for test the network. It is really great that this new coin with currently zero value and non existent market cap is bringing together users to develop a novel technology!

Currently there are over 50 test nodes on the network both on Linux and Windows OS. Several hard forks have been carried out during the last week to fix errors and faults. These aren't fundamental design flaws, but mainly performance related issues and software bugs. The role of this combined test effort is to finalize the protocol and software code. As the test goes on the number of nodes will be increased and new accounts will be added to the test network.

As we promised, the coins that were forged during the test will be transferred to the live network. This process will be transparent and the number of coins forged by each user account will be verifiable on the block chain.

We received several messages regarding the ICO and pre-sale. The distribution method has not been finalized yet, but as it stands now, the developer team is not comfortable enough to enter into an ICO or pre-sale process and to ask money for this coin. It seems most of the ICO process inevitable results in a lower price than the initial coin offering price was, it causes losses to investors and puts day trading pressure on the coin while we develop this technology with a longer view. We think the best way to handle the coin distribution is to allow forging process generate the coins and the free market decides the price. The forging is even more democratic, transparent and accessible for average computer users than mining, and in this case no GadgetCoin developers nor the GDC Foundation will take money from investors. Please let us know what you think?

[albert_mt]

Development Update

Thank you all for helping us for test the network. It is really great that this new coin with currently zero value and non existent market cap is bringing together users to develop a novel technology!

Currently there are over 50 test nodes on the network both on Linux and Windows OS. Several hard forks have been carried out during the last week to fix errors and faults. These aren't fundamental design flaws, but mainly performance related issues and software bugs. The role of this combined test effort is to finalize the protocol and software code. As the test goes on the number of nodes will be increased and new accounts will be added to the test network.

As we promised, the coins that were forged during the test will be transferred to the live network. This process will be transparent and the number of coins forged by each user account will be verifiable on the block chain.

We received several messages regarding the ICO and pre-sale. The distribution method has not been finalized yet, but as it stands now, the developer team is not comfortable enough to enter into an ICO or pre-sale process and to ask money for this coin. It seems most of the ICO process inevitable results in a lower price than the initial coin offering price was, it causes losses to investors and puts day trading pressure on the coin while we develop this technology with a longer view. We think the best way to handle the coin distribution is to allow forging process generate the coins and the free market decides the price. The forging is even more democratic, transparent and accessible for average computer users than mining, and in this case no GadgetCoin developers nor the GDC Foundation will take money from investors. Please let us know what you think?

I have buyers for the coin, investors waiting for the launch, if there won't be ICO how can i sell it to my investors?   

can the forged coins put on the market for sale with the broker smart contracts?

[mtomcdev]

Development Update

Thank you all for helping us for test the network. It is really great that this new coin with currently zero value and non existent market cap is bringing together users to develop a novel technology!

Currently there are over 50 test nodes on the network both on Linux and Windows OS. Several hard forks have been carried out during the last week to fix errors and faults. These aren't fundamental design flaws, but mainly performance related issues and software bugs. The role of this combined test effort is to finalize the protocol and software code. As the test goes on the number of nodes will be increased and new accounts will be added to the test network.

As we promised, the coins that were forged during the test will be transferred to the live network. This process will be transparent and the number of coins forged by each user account will be verifiable on the block chain.

We received several messages regarding the ICO and pre-sale. The distribution method has not been finalized yet, but as it stands now, the developer team is not comfortable enough to enter into an ICO or pre-sale process and to ask money for this coin. It seems most of the ICO process inevitable results in a lower price than the initial coin offering price was, it causes losses to investors and puts day trading pressure on the coin while we develop this technology with a longer view. We think the best way to handle the coin distribution is to allow forging process generate the coins and the free market decides the price. The forging is even more democratic, transparent and accessible for average computer users than mining, and in this case no GadgetCoin developers nor the GDC Foundation will take money from investors. Please let us know what you think?

I have buyers for the coin, investors waiting for the launch, if there won't be ICO how can i sell it to my investors?   

can the forged coins put on the market for sale with the broker smart contracts?

It will be absolutely possible to sell the forged coins in the GadgetCoin wallet using smart contracts. If your investors are interested in GadgetCoin then they will be able to purchase it via the broker smart contracts. Perhaps it would be a better way to start selling the coin via our wallet and network instead of start selling it in exchanges. The beauty of smart contracts that the agreement between you and you investors determines the price. Alternatively, if the community ask, GDC Foundation can determine the price and then all forged coins will be sell for the same price.

[altcoinUK]

I am happy with the decision that no ICO nor pre-sale will be with GadgetCoin. I am fed up from all ICO, IPO, ITO or name it as you want the money collecting jamboree. Let users forge exactly how Satoshi Nakamoto wanted Bitcoin operate (as he never imagined that large mining corporations will take over the BTC mining process) and lets build up the coin price naturally instead of day trade never mind P&D with an ICO coin. All of us here for the dollar, but must be a way to do it in the right way without scam the hell out from each other.

[tobeaj2mer01]

Development Update

Thank you all for helping us for test the network. It is really great that this new coin with currently zero value and non existent market cap is bringing together users to develop a novel technology!

Currently there are over 50 test nodes on the network both on Linux and Windows OS. Several hard forks have been carried out during the last week to fix errors and faults. These aren't fundamental design flaws, but mainly performance related issues and software bugs. The role of this combined test effort is to finalize the protocol and software code. As the test goes on the number of nodes will be increased and new accounts will be added to the test network.

As we promised, the coins that were forged during the test will be transferred to the live network. This process will be transparent and the number of coins forged by each user account will be verifiable on the block chain.

We received several messages regarding the ICO and pre-sale. The distribution method has not been finalized yet, but as it stands now, the developer team is not comfortable enough to enter into an ICO or pre-sale process and to ask money for this coin. It seems most of the ICO process inevitable results in a lower price than the initial coin offering price was, it causes losses to investors and puts day trading pressure on the coin while we develop this technology with a longer view. We think the best way to handle the coin distribution is to allow forging process generate the coins and the free market decides the price. The forging is even more democratic, transparent and accessible for average computer users than mining, and in this case no GadgetCoin developers nor the GDC Foundation will take money from investors. Please let us know what you think?

Actually I prefer an IPO but I respect the developer team's decision, let us forge this great coin.

[altcoinUK]

Development Update

Thank you all for helping us for test the network. It is really great that this new coin with currently zero value and non existent market cap is bringing together users to develop a novel technology!

Currently there are over 50 test nodes on the network both on Linux and Windows OS. Several hard forks have been carried out during the last week to fix errors and faults. These aren't fundamental design flaws, but mainly performance related issues and software bugs. The role of this combined test effort is to finalize the protocol and software code. As the test goes on the number of nodes will be increased and new accounts will be added to the test network.

As we promised, the coins that were forged during the test will be transferred to the live network. This process will be transparent and the number of coins forged by each user account will be verifiable on the block chain.

We received several messages regarding the ICO and pre-sale. The distribution method has not been finalized yet, but as it stands now, the developer team is not comfortable enough to enter into an ICO or pre-sale process and to ask money for this coin. It seems most of the ICO process inevitable results in a lower price than the initial coin offering price was, it causes losses to investors and puts day trading pressure on the coin while we develop this technology with a longer view. We think the best way to handle the coin distribution is to allow forging process generate the coins and the free market decides the price. The forging is even more democratic, transparent and accessible for average computer users than mining, and in this case no GadgetCoin developers nor the GDC Foundation will take money from investors. Please let us know what you think?

Actually I prefer an IPO but I respect the developer team's decision, let us forge this great coin.

You could be right about the IPO and can be some positives there which I can't see, so could you explain please, how exactly an IPO/ICO can be beneficial for us, investors in a market where 95% of the coins are scam. Isn't a big risk to pay money for a coin prior to the software is released and fully operational?

[tobeaj2mer01]

Development Update

Thank you all for helping us for test the network. It is really great that this new coin with currently zero value and non existent market cap is bringing together users to develop a novel technology!

Currently there are over 50 test nodes on the network both on Linux and Windows OS. Several hard forks have been carried out during the last week to fix errors and faults. These aren't fundamental design flaws, but mainly performance related issues and software bugs. The role of this combined test effort is to finalize the protocol and software code. As the test goes on the number of nodes will be increased and new accounts will be added to the test network.

As we promised, the coins that were forged during the test will be transferred to the live network. This process will be transparent and the number of coins forged by each user account will be verifiable on the block chain.

We received several messages regarding the ICO and pre-sale. The distribution method has not been finalized yet, but as it stands now, the developer team is not comfortable enough to enter into an ICO or pre-sale process and to ask money for this coin. It seems most of the ICO process inevitable results in a lower price than the initial coin offering price was, it causes losses to investors and puts day trading pressure on the coin while we develop this technology with a longer view. We think the best way to handle the coin distribution is to allow forging process generate the coins and the free market decides the price. The forging is even more democratic, transparent and accessible for average computer users than mining, and in this case no GadgetCoin developers nor the GDC Foundation will take money from investors. Please let us know what you think?

Actually I prefer an IPO but I respect the developer team's decision, let us forge this great coin.

You could be right about the IPO and can be some positives there which I can't see, so could you explain please, how exactly an IPO/ICO can be beneficial for us, investors in a market where 95% of the coins are scam. Isn't a big risk to pay money for a coin prior to the software is released and fully operational?

I read the whitepaper and all of their posts and I trust them, they will deliver a great software, so they deserve the IPO money for their hard work, as you know developer team is the most important factor in a project.

[loveyouforever]

Development Update

Thank you all for helping us for test the network. It is really great that this new coin with currently zero value and non existent market cap is bringing together users to develop a novel technology!

Currently there are over 50 test nodes on the network both on Linux and Windows OS. Several hard forks have been carried out during the last week to fix errors and faults. These aren't fundamental design flaws, but mainly performance related issues and software bugs. The role of this combined test effort is to finalize the protocol and software code. As the test goes on the number of nodes will be increased and new accounts will be added to the test network.

As we promised, the coins that were forged during the test will be transferred to the live network. This process will be transparent and the number of coins forged by each user account will be verifiable on the block chain.

We received several messages regarding the ICO and pre-sale. The distribution method has not been finalized yet, but as it stands now, the developer team is not comfortable enough to enter into an ICO or pre-sale process and to ask money for this coin. It seems most of the ICO process inevitable results in a lower price than the initial coin offering price was, it causes losses to investors and puts day trading pressure on the coin while we develop this technology with a longer view. We think the best way to handle the coin distribution is to allow forging process generate the coins and the free market decides the price. The forging is even more democratic, transparent and accessible for average computer users than mining, and in this case no GadgetCoin developers nor the GDC Foundation will take money from investors. Please let us know what you think?

Actually I prefer an IPO but I respect the developer team's decision, let us forge this great coin.

You could be right about the IPO and can be some positives there which I can't see, so could you explain please, how exactly an IPO/ICO can be beneficial for us, investors in a market where 95% of the coins are scam. Isn't a big risk to pay money for a coin prior to the software is released and fully operational?

I read the whitepaper and all of their posts and I trust them, they will deliver a great software, so they deserve the IPO money for their hard work, as you know developer team is the most important factor in a project.

Forging is a good idea, IPO/ICO will attract malicious investors, they buy the coins in IPO/ICO phase and sell them out after it hits exchange, it will hit long-term project very much.

[tobeaj2meraa]

I have two questions, kindly comment them:

1. What's the advantage to use blockchain in IoT,  we can do it well without blockchain and some companies already  have solutions of IoT, e.g. smart home, smart grid.

Company located in China:
http://www.shuncom.com/plus/list.php?tid=258

2. Do you have a plan to build a company which will focus on IoT solutions.

[mtomcdev]

I have two questions, kindly comment them:

1. What's the advantage to use blockchain in IoT,  we can do it well without blockchain and some companies already  have solutions of IoT, e.g. smart home, smart grid.

Company located in China:
http://www.shuncom.com/plus/list.php?tid=258

2. Do you have a plan to build a company which will focus on IoT solutions.

Thanks for the questions and it is great to see your interest in GadgetCoin.

We started to work on the solution in July and IBM announced something similar on 7 September, which was a very encouraging feedback. To think that IBM are having the same trains of thought as us indicated that we are indeed going in the right direction. We were trying to find a solution for an existing problem and IBM thought a block chain enabled solution is perfect for hardware management because one relatively simple, easy to use and flexible application can handle device
a) Security
b) Configuration
c) Provisioning
d) Firmware upgrade
e) Payment services

To answer your question of why we believe that a blockchain application is the correct infrastructure to address IoT requirements, we think a blockchain architecture system could dramatically simplify the security, configuration, provisioning, firmware upgrade and payment service aspects of device management. Currently there are closed source, bespoke applications for each of the aforementioned tasks – the GadgetCoin system will provide users users with tools to address all requirements using one relatively simple concept and system.

The GadgetCoin smart contract application is lot more than a simple hardware control i.e. opening a garage door. A better use case is to open a security vault that is described in our white paper. Using this technology allows a more secure and simplified hardware management. As we speak there are dozens or perhaps hundreds of bespoke systems being designed, all of them using a custom written technology. What IBM and we are trying to achieve is to provide hardware integrators with an application that can handle the most challenging aspects of device management. IBM wouldn't enter into the business if there was no potential for a multibillion dollar market. I understand that we should not pull numbers like this multibillion dollar market from the air, but there will be 50 billion internet connected devices by 2020 and all of those devices need an application that addresses security, configuration, provisioning and upgrade requirements. Without addressing these requirements none of these devices can operate. Therefore, IBM came to the conclusion just like we did, that perhaps the most ingenious invention of the last decade - the block chain - and smart contracts could address all those requirements.

The beauty of blockchain and smart contracts from device management viewpoint that its underlying PPKI (public-private key infrastructure) security enables an elegant and robust security policy implementation on devices. Even application development that must comply with complex security standards like HIPAA could be dramatically simplified using the GadgetCoin blockchain enabled, smart contract system.  

Apart from the security company we mentioned in this thread, we have signed a partnership agreement with a medical device manufacturer and it seems our application will be used to manage the full life cycle of their wearable medical device. The block chain technology would mean the wearer of the device can be authenticated by their doctor as they are on the same peer to peer private network. The data is fully encrypted with the PPKI keys, meaning that it is protected from any malicious and external threats. Then comes the provisioning aspect – each device must be assigned to a patient by the doctor, and then re-assigned on a constant basis if there is a leasing model in place. Smart contracts handle this aspect easily. After this another complex business problem presents itself – firmware updates. How do you update thousands of devices that are deployed with the touch of a button? Again, smart contract technology does this without making it a logistical nightmare. Then comes authentication, the peer to peer network for the clinic or the doctor has to be secure and private enough to transmit medical data. The need for complex server infrastructure is bypassed with our solution. The resulting combination of factors gives this technology alone the potential to revolutionize the data transfer of modern medicine – it all comes down to hardware integration.

Please refer to our white paper for more information on how GadgetCoin aims to address IoT requirements.

As for the question about building a business, yes absolutely, the developers aim to build a business to offer application development, consultancy and infrastructure services for GadgetCoin hardware integrator businesses.

As for the company in China, yes we are aware of many IoT companies but none of them offers such comprehensive solution what GadgetCoin will, not even Thingworx nor Xively which are large publicly listed companies.

[altcoinUK]

Very valid questions from @tobeaj2meraa, but as I said several times to the Bitbay and TileCoin crew, the same apply to GadgetCoin:  I totally get it, IoT can be a perfect area for the blockchain and smart contracts. IBM wouldn't start to work on this if it wouldn't be a billion $ business opportunity. If this and other IoT coins don't do anything else but secures devices then they will have more usage than all other digital currencies combined. But of course the biggie is the payment for IoT services, at least for me that is the most attractive in gadgetcoin.




 

[loveyouforever]

Looks promising, waiting for the launch!

[tobeaj2mer01]

I have two questions, kindly comment them:

1. What's the advantage to use blockchain in IoT,  we can do it well without blockchain and some companies already  have solutions of IoT, e.g. smart home, smart grid.

Company located in China:
http://www.shuncom.com/plus/list.php?tid=258

2. Do you have a plan to build a company which will focus on IoT solutions.

Thanks for the questions and it is great to see your interest in GadgetCoin.

We started to work on the solution in July and IBM announced something similar on 7 September, which was a very encouraging feedback. To think that IBM are having the same trains of thought as us indicated that we are indeed going in the right direction. We were trying to find a solution for an existing problem and IBM thought a block chain enabled solution is perfect for hardware management because one relatively simple, easy to use and flexible application can handle device
a) Security
b) Configuration
c) Provisioning
d) Firmware upgrade
e) Payment services

To answer your question of why we believe that a blockchain application is the correct infrastructure to address IoT requirements, we think a blockchain architecture system could dramatically simplify the security, configuration, provisioning, firmware upgrade and payment service aspects of device management. Currently there are closed source, bespoke applications for each of the aforementioned tasks – the GadgetCoin system will provide users users with tools to address all requirements using one relatively simple concept and system.

The GadgetCoin smart contract application is lot more than a simple hardware control i.e. opening a garage door. A better use case is to open a security vault that is described in our white paper. Using this technology allows a more secure and simplified hardware management. As we speak there are dozens or perhaps hundreds of bespoke systems being designed, all of them using a custom written technology. What IBM and we are trying to achieve is to provide hardware integrators with an application that can handle the most challenging aspects of device management. IBM wouldn't enter into the business if there was no potential for a multibillion dollar market. I understand that we should not pull numbers like this multibillion dollar market from the air, but there will be 50 billion internet connected devices by 2020 and all of those devices need an application that addresses security, configuration, provisioning and upgrade requirements. Without addressing these requirements none of these devices can operate. Therefore, IBM came to the conclusion just like we did, that perhaps the most ingenious invention of the last decade - the block chain - and smart contracts could address all those requirements.

The beauty of blockchain and smart contracts from device management viewpoint that its underlying PPKI (public-private key infrastructure) security enables an elegant and robust security policy implementation on devices. Even application development that must comply with complex security standards like HIPAA could be dramatically simplified using the GadgetCoin blockchain enabled, smart contract system.  

Apart from the security company we mentioned in this thread, we have signed a partnership agreement with a medical device manufacturer and it seems our application will be used to manage the full life cycle of their wearable medical device. The block chain technology would mean the wearer of the device can be authenticated by their doctor as they are on the same peer to peer private network. The data is fully encrypted with the PPKI keys, meaning that it is protected from any malicious and external threats. Then comes the provisioning aspect – each device must be assigned to a patient by the doctor, and then re-assigned on a constant basis if there is a leasing model in place. Smart contracts handle this aspect easily. After this another complex business problem presents itself – firmware updates. How do you update thousands of devices that are deployed with the touch of a button? Again, smart contract technology does this without making it a logistical nightmare. Then comes authentication, the peer to peer network for the clinic or the doctor has to be secure and private enough to transmit medical data. The need for complex server infrastructure is bypassed with our solution. The resulting combination of factors gives this technology alone the potential to revolutionize the data transfer of modern medicine – it all comes down to hardware integration.

Please refer to our white paper for more information on how GadgetCoin aims to address IoT requirements.

As for the question about building a business, yes absolutely, the developers aim to build a business to offer application development, consultancy and infrastructure services for GadgetCoin hardware integrator businesses.

As for the company in China, yes we are aware of many IoT companies but none of them offers such comprehensive solution what GadgetCoin will, not even Thingworx nor Xively which are large publicly listed companies.

It's very clear, I recall a common scenario regarding smart contract, how will Gadgetcoin deal with reverse transaction/transaction dispute?