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Author Topic: [JBS] Jumbucks - No IPO/ICO - Proof of Stake - Slack - DCR Stake Pool - 2+ Years  (Read 47456 times)
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jyap
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May 08, 2016, 09:15:00 AM
 #141

I've been slowly working on a project that I want to bring to the proof of concept phase ASAP.  There are a lot of things going on and like a lot of coins that have actual work being done, there aren't many people assisting..  Best to say, things happen when they happen and this is a volunteer project.  Part of this is giving people (coin holders and supporters) realistic expectations.

Here are some items I'm currently working on and some extra explanations.

Jumbucks 1.9.5

This will be a minor release which removes centralized checkpointing and has the faster bootstrap (900k blocks in 1.73 hrs).  That work is already done and in Github.

The work here is in preparation for version 2.0 of the wallet/daemon and the Jumbucks project I'm working on.  The other feature I want to test is implementing libsecp256k1 (https://github.com/bitcoin-core/secp256k1), the Optimized C library for EC operations on curve secp256k1, and benchmarking that to see if it improves wallet performance.

Optional upgrade.

The point here is to improve the user experience as we on board more wallet users.  Decentralized projects will require a running wallet with the blockchain.

Jumbucks 2.0

Named 2.0 as it will be a hard fork.

1 block every 60 seconds is an issue as it leads to more block processing, disk space, orphaned blocks.  If I had to redo Jumbucks from scratch, this would be the one thing I'd really like to change.

Proposed move to 88 or 100 seconds.  This will also lead to faster start up since there will be proportionally less blocks.  Everything in terms of resource usage is basically improved with longer block times.  Shorter block times only really increase confirmation times.

Move to sha256 hashing for PoS blocks. Scrypt is brutal. Takes up more memory, is slower and is the main reason for a slower blockchain sync.

Decred code base switch

Shelving this as a “nice to have” or potential project. Breakdown below.

Pros:

  • New active code base
  • Hierarchical Deterministic wallets
  • Potential for new users through mining
  • Better multisig support

Cons:

  • Need to maintain and grow a PoW base. Pretty difficult and costly.
  • Security. Need to maintain a core mining farm to keep the chain secure and processing.
  • Switchover costs and transition time.
  • A less mature code base. No GUI wallets. Harder for general users.
  • JBS code base is very stable and hands off.
  • Slower blockchain processing.

New wallet

An actual “new wallet” with a redesign/graphics/layout, etc… is pretty low priority.

The amount of effort required isn’t really worth it considering there are very few people people using wallets.

More effort will be placed on developing selling points.


Thanks,
Julian

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jyap
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May 08, 2016, 10:16:06 PM
 #142

Jumbucks will be in the next release of Bitsquare decentralized exchange.



https://twitter.com/getjumbucks/status/729427250395815937

https://twitter.com/manfred_karrer/status/729433124745138176

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May 08, 2016, 11:18:04 PM
 #143

Thanks for the update Julian , looks great.

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May 15, 2016, 02:05:44 PM
 #144



Hi dev. Can you tell me when will be listed on Poloniex? What are the good news? I invested 0,5 BTCs in JBS and i want to see it grow because i belive in project. Thanks.
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May 16, 2016, 08:36:46 AM
 #145

Hi,

I'm maintaining Cryptocoins – the most complete vector/webfont cryptocurrency icon pack; just released a new update (2.0) including Jumbucks!


Hope you won't mind me posting here (other communities appreciate it).
If you like the work, tip me crypto and support further development:

JBS: Je9zzn91nQfknsHjqmdytsQYtXGqLny1YU
BTC: 1Aqbc5M4Wt5KiZK5mq7VzQ4gWJKJGUufpW

Cheers!
~ Allien

SNOVio – Decentralized Lead Generation  |   Telegram  |   Facebook
jyap
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May 19, 2016, 05:40:59 AM
 #146

Hi,

I'm maintaining Cryptocoins – the most complete vector/webfont cryptocurrency icon pack; just released a new update (2.0) including Jumbucks!


Hope you won't mind me posting here (other communities appreciate it).
If you like the work, tip me crypto and support further development:

JBS: Je9zzn91nQfknsHjqmdytsQYtXGqLny1YU
BTC: 1Aqbc5M4Wt5KiZK5mq7VzQ4gWJKJGUufpW

Cheers!
~ Allien

Thank you Allien!

Just tipped you 50 JBS.

https://chainz.cryptoid.info/jbs/tx.dws?75c6b703d5b62b74bbddf9cfa1e2304c085adc574473ca1a59e341df5cf8f204.html

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May 19, 2016, 09:04:48 AM
 #147


Thanks much, appreciated!

SNOVio – Decentralized Lead Generation  |   Telegram  |   Facebook
jyap
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June 08, 2016, 01:47:47 AM
 #148

Something I want to announce is that myself and @cryptokrill are in charge of one of the official Decred stake pools (there will only be a maximum of 10) which we will be launching shortly.

The TLDR is that the stake pool allows you to stake DCR without having your laptop/PC on 24/7 as Decred staking works more on a lottery type system where you buy tickets. Official stake pools are also required to run multiple voting servers which incurs a monthly cost.

The work that the Decred team has done to get the multisig cold staking, stake pools and stake pools with fees working is really impressive.

Most of the current stake pools have launched with either a straight 5% or 7.5% fee for the tickets but I want to change it up a bit so that it benefits JBS holders.

Here is the proposal.

The fee will be advertised as 8% publicly. 4% will be allocated for pool maintenance and server costs. 2% will be allocated to a JBS development fund. 2% will be for JBS market buys which will be rewarded back to stake pool users periodically.

This will make the pool competitive in fees and the cheapest in terms of straight pool maintenance and server costs. The overall changes will also help the JBS ecosystem with rewards to users and stimulated market activity.

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June 08, 2016, 09:02:08 AM
 #149

Here are some more details related to the Decred Proof of Stake pool and potential payouts mentioned in Slack.

[6:48 PM] 
saintgermaine: sounds great @julian could you help quantify the impact.. like put the expected numbers this might generate for jbs dev fund and market buys..as for the market buys how often will that happen? I dont really understand pools very well so wondering how often they process...i guess in summary im asking if you can explain a bit more but keep it simple?

[7:56 PM] 
julian: .. i'll run some numbers now

a bit of this terminology takes some explaining. to use the pool you are paying fees from your reward

currently the PoS reward is around 1.8 per staked vote. this slowly declines over time over a reward curve... but it will be around 1.7 to 1.8 for a while.

so in a PoS pool if you pay a 10% fee:
1.8 DCR * 0.1 = 0.18 DCR fee

on the lower end, if no one buys tickets or uses the pool, obviously that means 0 market buys, 0 payouts.

(screen shot of current pools and stats)

here are the numbers from the current pools for comparison

pools are relatively new, so numbers will definitely rise across the board

so we are also required to be capped at 5% of all live tickets. that's so that pools have a balance.

[8:03 PM] 
saintgermaine: so your hoping to get jbs hodlers to be decred miners/stakers so that the 8% fee is similar to other pools but the addedd benefits is a percentage of the *% goesback into JBS..?

[8:03 PM] 
julian: yes

i'll run max numbers based on 5%.. one second

[8:04 PM] 
saintgermaine: sounds like a winner

[8:04 PM] 
julian: essentially i try and build a win win situation for all

and previously we had a PoW multipool but yeah micah stopped running it

but this DCR PoS mining pool should be self sustaining

ok, so there are 5 minute block times. and 5 votes per block.

12 blocks per hour

12 blocks * 24 hours * 5 votes = 1440 votes per day

"These pools will be soft-capped at 5% of the stake tickets each" OK, yeah, it's 5%

so 5% of 1440.0 is 72 voted tickets a day

72 voted * 1.8 reward * 0.08 (8 percent) = 10.368 DCR max fees collected

2.592 DCR would be max buy back per day

[8:11 PM] 
saintgermaine: :grinning:

[8:12 PM] 
julian: so max buy back would be around $4.17312 per day based on current DCR price of $1.61 per DCR

.. so that also depends on the price of DCR.

(screen shot of DCR historical price)

but DCR USD price has been pretty steady

[8:15 PM] 
saintgermaine: thx jyap for info

[8:15 PM] 
julian: No problemo. but yeah payouts would be "periodically". i say that since i'd do them manually to begin with.

jyap
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June 12, 2016, 09:02:19 PM
 #150

Something I want to announce is that myself and @cryptokrill are in charge of one of the official Decred stake pools (there will only be a maximum of 10) which we will be launching shortly.

The TLDR is that the stake pool allows you to stake DCR without having your laptop/PC on 24/7 as Decred staking works more on a lottery type system where you buy tickets. Official stake pools are also required to run multiple voting servers which incurs a monthly cost.

The work that the Decred team has done to get the multisig cold staking, stake pools and stake pools with fees working is really impressive.

Most of the current stake pools have launched with either a straight 5% or 7.5% fee for the tickets but I want to change it up a bit so that it benefits JBS holders.

Here is the proposal.

The fee will be advertised as 8% publicly. 4% will be allocated for pool maintenance and server costs. 2% will be allocated to a JBS development fund. 2% will be for JBS market buys which will be rewarded back to stake pool users periodically.

This will make the pool competitive in fees and the cheapest in terms of straight pool maintenance and server costs. The overall changes will also help the JBS ecosystem with rewards to users and stimulated market activity.

http://dcrstakepool.getjumbucks.com

The Decred stake pool is now live. I am going to make another tab so people can add their JBS address if they want payments. You can use it perfectly fine for now.  Happy DCR staking!


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June 13, 2016, 06:06:38 AM
 #151

Good time of day. How to configure the wallet to get a coin in solo mode? Huh Huh Huh
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June 14, 2016, 09:05:32 AM
 #152

Hey guys,

3D printed a cool Jumbucks case for my raspberry pi:



Special thanks to @john over at jumbucks.slack.com for creating/adding the Jumbucks logo Smiley
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June 14, 2016, 09:34:39 AM
 #153

Hey guys,

3D printed a cool Jumbucks case for my raspberry pi:



Special thanks to @john over at jumbucks.slack.com for creating/adding the Jumbucks logo Smiley

Beautiful.

John says:

if you have a 3d printer you can print cases for rpi with the STLs here   

https://github.com/JohnHanks/mechanical/tree/master/Raspberry%20Pi

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June 14, 2016, 08:34:28 PM
 #154


Upcoming "Breakout Coin Team - Breakout Coin live AMA on Jumbucks Slack".  Set your calendars:

http://www.timeanddate.com/worldclock/fixedtime.html?msg=Breakout+Coin+Team+-+Breakout+Coin+live+AMA+on+Jumbucks+Slack&iso=20160616T13&p1=224&ah=1

James the lead dev for the coin, Gian head of gaming and someone else from the team will be available.

Sign up to Jumbucks Slack for free: http://slack.getjumbucks.com


Here is a link to a previous AMA:

https://bitcointalk.org/index.php?topic=865169.msg12690457#msg12690457

Sign up to Jumbucks Slack here to be a part of a growing community of over 520 crypto enthusiasts and Jumbucks fans!

Follow @getjumbucks on Twitter for all the latest news and announcements!

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June 15, 2016, 09:25:37 AM
 #155

Hey Jumbuckers,

Quick question as Jumbucks is the only coin I really stake. Moving my staking wallet from one PC to another. Just moving the wallet.dat is all i need to do yea? I feel like im missing some coins since booting it back up after a few months offline from an old computer. Probably not but thought i should ask.

Thanks!
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June 17, 2016, 12:56:37 AM
 #156

Hey Jumbuckers,

Quick question as Jumbucks is the only coin I really stake. Moving my staking wallet from one PC to another. Just moving the wallet.dat is all i need to do yea? I feel like im missing some coins since booting it back up after a few months offline from an old computer. Probably not but thought i should ask.

Thanks!

The Wallet.Dat should be all you need.

I have moved my JBS wallet around a few times now and have never had an issue when just moving the wallet.dat
No missing coins or anything.

Maybe you have less than you remember Tongue
I am going to say that is a sign from the crypto overlords that you need to get more Tongue
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June 17, 2016, 06:42:51 AM
 #157

Looking good!  Wink
http://i.imgur.com/h7jEY37.png
jyap
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June 28, 2016, 04:59:18 AM
 #158



The Jumbucks Decred Stake Pool is currently the 4th ranked in terms of number of Live tickets.

Recently I've set up my local development environment so I can make some changes.

Currently on my list of TODO items for the pool:

  • Implement a Theme (just quickly for now to differentiate from the other pool)
  • Add in a tab to add a JBS address to receive payments back
  • Formally announce the stake pool in an email to the mailing list and other channels

Feel free to sign up and use the pool. If you need help buying tickets the #jumbucks channel in Slack is always helpful.

jyap
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June 29, 2016, 09:47:35 AM
 #159



The Jumbucks Decred Stake Pool is currently the 4th ranked in terms of number of Live tickets.

Recently I've set up my local development environment so I can make some changes.

Currently on my list of TODO items for the pool:

  • Implement a Theme (just quickly for now to differentiate from the other pool)
  • Add in a tab to add a JBS address to receive payments back
  • Formally announce the stake pool in an email to the mailing list and other channels

Feel free to sign up and use the pool. If you need help buying tickets the #jumbucks channel in Slack is always helpful.

just rethemed it

take a look and sign up!

mostly a quick retheme and changing some minor stuff

http://dcrstakepool.getjumbucks.com

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June 29, 2016, 10:01:09 AM
 #160

where we can buy this coin , any exchange?

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