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Author Topic: [ANN][SPK] Sparkle - Proof of Work meets BitShares  (Read 16049 times)
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sparkles
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November 26, 2014, 09:11:30 PM
Last edit: November 28, 2014, 05:52:15 PM by sparkles
#1

Sparkle is the first "2.0" variation based upon Proof of Work.   Ripple, Nxt, BitShares, and potentially Ethereum are all Proof of Stake systems.  Sparkle will add some shine to proof of work chains.

Sparkle replaces the Delegated Proof of Stake of BitShares with good old fashioned proof of work.  The "delegates" retain the role of producing price feeds for BitAssets (market pegged, 3x collateralized, block chain enforced assets pegged to Gold, Silver, the Dollar and Bitcoin).

Currency Unit:  SPK (Spark)
Mining Algorithm: SHA512  (initial, may change subject to delegate vote.)
Initial Supply: 100M SPK  (Divided among AGS, PTS, and BTS holders)
Mining Reward:  50 SPK / block, linearlly decreasing to 0 over 100 years.
Workers Reward:  50 SPK / block, linearlly decreasing to 0 over 100 years.
Block Interval: 20 seconds
Maximum Spark Supply: 7,984,000,000 SPK after 100 years.
Precision:  5 decimal places

http://thetruesparkles.wix.com/sparkle
https://github.com/sparkle5/Sparkle

SubForum Available on BitSharesTalk
https://bitsharestalk.org/index.php?board=80.0


Sparkle is under testing right now and has a working implementation.   Mining will begin as soon as we can merge the next stable release of BitShares into the code base.  

Sparkle inherits all of the great innovations in BitShares including:
  TITAN          - transfer invisibly to any name.
  Self Funding - Elected workers can grow and promote Sparkle without having to do a crowd sale.
  BitAssets     - Market pegged assets.
  Escrow        - simple, easy to use escrow payments
  User Assets  - Users can issue their own currencies  

Sparkle will adapt and evolve to follow the feature set of BitShares including:
  Auctions
  KeyGraph
  Scripting (turing complete)
  Gateways

If you couldn't get on board with BitShares because of Proof of Stake, now is your chance to get what you always wanted.


I will do the snapshot on December 14th, the anniversary of the American Revolution:

Quote
The first military encounter of the American Revolution occurred, when on the report of news carried by Paul Revere that the British intended to station a garrison at Portsmouth, New Hampshire; Major John Sullivan led a band of militia to Fort William and Mary, broke into its arsenal, and carried off arms and ammunition, 1774

This applies for BTS and PTS.   BitAssets will not be honored, shorts will gain 2x and this is intentional because I want to reward those most heavily invested in BTS.

This will be the LAST block produced on December 14th UTC.   I will not ask any exchanges to honor the snapshot and will ask everyone who wants to participate in it to remove it from the exchanges.  In fact I will go so far as to declare that the exchanges OWN the snapshot of funds deposited in them as an incentive for them to list Sparkle and to reward them for supporting the BitShares ecosystem.

Lets make life easy on the exchanges and NOT ask them to honor this snapshot, but DO ask them to list it after we launch.   

Be very wary of relying on JavaScript for security on sites such as blockchain.info and brainwallet.org. The site can change the JavaScript at any time unless you take unusual precautions, and browsers are not generally known for their airtight security.
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November 26, 2014, 09:13:57 PM
#2

Looks interesting.
I will follow what happen Wink

Good luck anyway
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November 26, 2014, 09:16:03 PM
#3

This looks to be a coin of real value. Hola mister Bitshares forker.
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November 26, 2014, 09:28:44 PM
#4

This will be really interesting to watch.  I wonder how the network effect of sparkle will compare with BTS.  Sparkle will have a ton of POW miners to become the first users.  A noteworthy project.

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November 26, 2014, 09:40:40 PM
#5

I'm skeptical - but interested.

DPOS is either superior to POW - or it isn't.
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November 26, 2014, 09:44:15 PM
#6

I'm skeptical - but interested.

DPOS is either superior to POW - or it isn't.

Well it is definitely better with deterministic block times of 10 seconds and the ability to register names.  Also the lack of inflation required just for block security makes it a huge winner.

POW is nice because it is truly centralized, but it can never scale because of this.
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November 26, 2014, 09:44:41 PM
#7

If Bitshares with DPOS doesnt work this will (as a backup)!
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November 26, 2014, 09:48:17 PM
#8

Very interesting concept and one of the coin that I'll be watching this year end for sure.

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November 26, 2014, 09:52:26 PM
#9

I'm skeptical - but interested.

DPOS is either superior to POW - or it isn't.

This is why Sparkle exists.   Someone had to create it and let the market sort it out.   
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November 26, 2014, 10:48:23 PM
#10

I'm skeptical - but interested.

DPOS is either superior to POW - or it isn't.

POW is nice because it is truly centralized, but it can never scale because of this.

POW has a big advantage of being a great distribution mechanism in the vital early stages of a coin/DACs growth.  Having thousands of miners available to be the first users makes it a whole lot easier to get network effect, especially as the first users are the hardest to get.
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November 26, 2014, 10:55:29 PM
#11

Page 1 of what will be a very long thread...I hope.
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November 26, 2014, 11:05:31 PM
#12

interesting! Shocked
When will it be launched? windows wallet, exchange?  Grin Wink

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CLains
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November 26, 2014, 11:45:31 PM
#13

BitShares with PoW.. This will get interesting.   Cheesy
jackfruit
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November 26, 2014, 11:54:02 PM
#14

Looks interesting...I'll be watching for sure.  Wink
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November 27, 2014, 01:00:36 AM
#15

Initial Supply: 100M SPK  (Divided among AGS, PTS, and BTS holders)

Is this drop to PTS for current PTS holders or holders during the Nov 5th snapshot?


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November 27, 2014, 01:28:58 AM
#16

Interesting concept.
The focus is on your coin.

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November 27, 2014, 01:43:04 AM
#17

Thanks to the genius of the AGS/PTS social consensus, I can whole-heartedly support this direct competitor to BTS. Good luck, have fun!

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Juantzy
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November 27, 2014, 01:53:14 AM
#18

SHA512?? Why don't you use GPU friendly aglo??
I don't know why so many ASIC friendly coin those days Huh Huh

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November 27, 2014, 02:45:57 AM
#19

DPOS is POW

If you think of "delegates" as "miners"

Running a delegate is the same as running a mining rig, except that you have to be awesome to get the privilege of being voted into a mining position.

You have to "prove" to us that you can do good "work" for us (coin owners).

Also, this coin was born of a fair launch (fair distribution) POW coin (Protoshares)
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November 27, 2014, 04:56:29 AM
#20

Clarification please, sparkles.

The "miners" perform traditional PoW blockchain securitization same as bitcoin?
Is their role limited to this?

The "workers" (delegates?) provide price feeds on assets?
Is their role limited to this?


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