◈◈Bitcredit ◈◈ Migrating to UniQredit◈◈

[bitcreditscc]

Meanwhile......i have an small untested idea i want to pitch so i'm just going to throw this cat in the fray

In typical mining, we struggle to find a hash smaller than the target...as a result as we get more competitive this target gets smaller ie more difficult. I would like us to consider the technical implications of a system that replaces difficulty with signatures. This means that forever, the blockchain has a static difficulty, and instead relies on signatures in the block. If difficulty is always low, then blocks will always fly by faster with no "dry spells" of blocks. At a well chosen target , a tx could get confirmed in under ten seconds.

In order to block active attacks that try to centralize mining by throwing overwhelming power, we could utilize one of two methods

1) Limit the number of consecutive blocks a node can produce, this simply just says that miners cannot produce too many consecutive blocks, the point of failure i see in it is that it could result in a couple of high power miners running the show still.

2) Create a system similar to BN winning process that ensures that all miners generally produce blocks , with additional limits using elements from  (1).

I don't understand why there needs to be any hashing at all. If the txes in the block are judged valid by consensus - and any conflicting double-spend attempts etc are rejected - then once that quorum is reached can the block not be simply added to the permanent chain? This should be a pretty quick process, set to run every x seconds.

I'll get around to understanding this stuff better eventually...

WRT your propositions though, if BNs were elected to do what was needed in strict succession, ie. with 100 BNs each one would process each 100th (101st, whatever)  block - would that help/solve the issue? Right now BNs get paid more or less at random it seems and it evens out over time; SPR had what seemed like a very reliable blockchain based voting system for BN payments, could something like that be employed?

I think removing hashing is way too much in one go for now, i want to keep compatibility with btc based chains and avoid making changes whose consequences i can't even try to imagine... but it's definitely in line for the chopping block.

I will look at spr code tonight and see what they had. Whatever election method we decide to use must be robust and secure, if that Mr Spread guy were around i bet we could make a ton of progress working together.

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[bitcreditscc]

By Wednesday i will give an example of the node classes

[doesntmatter]

Lets see if I can make this a little easier... It would not matter how many blocks in a row someone hashes if all blocks pay all nodes, not all wallets, but all nodes... with each node having a required deposit that can be verified... in this simple way a single machine hashing a block a min could easily keep the entire network secure.... this drops all incentive to try to steal blocks, in any way!!!

[bitcreditscc]

Lets see if I can make this a little easier... It would not matter how many blocks in a row someone hashes if all blocks pay all nodes, not all wallets, but all nodes... with each node having a required deposit that can be verified... in this simple way a single machine hashing a block a min could easily keep the entire network secure.... this drops all incentive to try to steal blocks, in any way!!!

but why are we paying those nodes? what activity have they done that helps the network?

[thelonecrouton]

Lets see if I can make this a little easier... It would not matter how many blocks in a row someone hashes if all blocks pay all nodes, not all wallets, but all nodes... with each node having a required deposit that can be verified... in this simple way a single machine hashing a block a min could easily keep the entire network secure.... this drops all incentive to try to steal blocks, in any way!!!

but why are we paying those nodes? what activity have they done that helps the network?

They get paid for being full nodes on fast connections, posting collateral and participating in the consensus mechanism.    Anyway, above my pay grade.

Proposed change to block browser page:



One result batch at a time, looks a bit neater IMO...?

[catotune]

I currently run one 250K Banknode. If I update from Github today, can I run 5 BNs for 50K each?

[thelonecrouton]

I currently run one 250K Banknode. If I update from Github today, can I run 5 BNs for 50K each?

You can at block 145000, we're now at 142200-ish. Another few days.

Proposed changes to bankstats page:



I didn't think any of this was wired up, you just have to push the button and wait 5-10 secs. We need to get all this stuff working properly. Reported market cap is a bit optimistic right now.  

[catotune]

I currently run one 250K Banknode. If I update from Github today, can I run 5 BNs for 50K each?

You can at block 145000, we're now at 142200-ish. Another few days.

Thanks crouton! Will older BNs suddenly stop working at block 145000? E.g. If someone has a 250K BN using an older version, say 301607, will that stop working? Alternately, if someone has a 250K BN, but using the latest from Github as of today, will that continue to work?

Apologies if this has been covered in the thread - I read over the last few pages, and wasn't able to figure out exactly what this transition will look like.

[bitcreditscc]

I currently run one 250K Banknode. If I update from Github today, can I run 5 BNs for 50K each?

You can at block 145000, we're now at 142200-ish. Another few days.

Thanks crouton! Will older BNs suddenly stop working at block 145000? E.g. If someone has a 250K BN using an older version, say 301607, will that stop working? Alternately, if someone has a 250K BN, but using the latest from Github as of today, will that continue to work?

Apologies if this has been covered in the thread - I read over the last few pages, and wasn't able to figure out exactly what this transition will look like.

Yes older BNs will cease to receive payments. While it is bothersome to split it into 5 (assuming you wish to maximise your profits ) it is essential for the new business and security models we are introducing over the next few updates.

[bitcreditscc]

I currently run one 250K Banknode. If I update from Github today, can I run 5 BNs for 50K each?

You can at block 145000, we're now at 142200-ish. Another few days.

Proposed changes to bankstats page:



I didn't think any of this was wired up, you just have to push the button and wait 5-10 secs. We need to get all this stuff working properly. Reported market cap is a bit optimistic right now.  

I will allocate some time to updating the engine, but there are things that are still a few months away that I need to design. I am actually using some parts of my days to design the banking API allowing a server-client type of relationship between normal nodes and real Bank nodes.

I'm also exploring a escrow solution , if successful would be the first Class II node available in the reference client.

So much to do, so little time , even less hands. 

[bitcreditscc]

Lets see if I can make this a little easier... It would not matter how many blocks in a row someone hashes if all blocks pay all nodes, not all wallets, but all nodes... with each node having a required deposit that can be verified... in this simple way a single machine hashing a block a min could easily keep the entire network secure.... this drops all incentive to try to steal blocks, in any way!!!

but why are we paying those nodes? what activity have they done that helps the network?

They get paid for being full nodes on fast connections, posting collateral and participating in the consensus mechanism.    Anyway, above my pay grade.

Proposed change to block browser page:



One result batch at a time, looks a bit neater IMO...?

Definitely, it looks a lot cleaner , less busy.

[catotune]

I currently run one 250K Banknode. If I update from Github today, can I run 5 BNs for 50K each?

You can at block 145000, we're now at 142200-ish. Another few days.

Thanks crouton! Will older BNs suddenly stop working at block 145000? E.g. If someone has a 250K BN using an older version, say 301607, will that stop working? Alternately, if someone has a 250K BN, but using the latest from Github as of today, will that continue to work?

Apologies if this has been covered in the thread - I read over the last few pages, and wasn't able to figure out exactly what this transition will look like.

Yes older BNs will cease to receive payments. While it is bothersome to split it into 5 (assuming you wish to maximise your profits ) it is essential for the new business and security models we are introducing over the next few updates.

Thanks for your response, I appreciate it. At the risk of asking one more dumb question, how can I best prepare for block 145000? Is the ideal strategy to create wallet(s) holding 50K just before that block, and then run "banknode start" right when we hit block 145000?

If I don't want to stay up all night waiting for that specific block to hit, will I be able to run "banknode start", for example at block 144500, and expect it to turn into a BN at block 145000?

[bitcreditscc]

I currently run one 250K Banknode. If I update from Github today, can I run 5 BNs for 50K each?

You can at block 145000, we're now at 142200-ish. Another few days.

Thanks crouton! Will older BNs suddenly stop working at block 145000? E.g. If someone has a 250K BN using an older version, say 301607, will that stop working? Alternately, if someone has a 250K BN, but using the latest from Github as of today, will that continue to work?

Apologies if this has been covered in the thread - I read over the last few pages, and wasn't able to figure out exactly what this transition will look like.

Yes older BNs will cease to receive payments. While it is bothersome to split it into 5 (assuming you wish to maximise your profits ) it is essential for the new business and security models we are introducing over the next few updates.

Thanks for your response, I appreciate it. At the risk of asking one more dumb question, how can I best prepare for block 145000? Is the ideal strategy to create wallet(s) holding 50K just before that block, and then run "banknode start" right when we hit block 145000?

If I don't want to stay up all night waiting for that specific block to hit, will I be able to run "banknode start", for example at block 144500, and expect it to turn into a BN at block 145000?

If you want to be right on the spot, then ~ block 144960 move your coins to a new address, create 5 new ones , send the coins, generate your BN keys and run the instances. Once block 145000 passes and your coins are already confirmed in new addresses, your BNs will show up.

[SRBOOTH]

I keep getting APPCRASH after loading new wallet 0.30.16.8  , I have had earlier version and wanted to upgrade and play along. Also loaded fresh wallet and get this also ....?? Any ideas?
Wallet rescans everytime I try to load , here is crash details:

  Fault Module Timestamp:   003e0158
  Exception Code:   c0000005
  Exception Offset:   00000000009c9040
  OS Version:   6.1.7601.2.1.0.768.3
  Locale ID:   1033
  Additional Information 1:   7891
  Additional Information 2:   78919d816993304b4b9317e282839814
  Additional Information 3:   458d
  Additional Information 4:   458df8454a027dcd13c9be03e524d289

[bitcreditscc]

I keep getting APPCRASH after loading new wallet 0.30.16.8  , I have had earlier version and wanted to upgrade and play along. Also loaded fresh wallet and get this also ....?? Any ideas?
Wallet rescans everytime I try to load , here is crash details:

  Fault Module Timestamp:   003e0158
  Exception Code:   c0000005
  Exception Offset:   00000000009c9040
  OS Version:   6.1.7601.2.1.0.768.3
  Locale ID:   1033
  Additional Information 1:   7891
  Additional Information 2:   78919d816993304b4b9317e282839814
  Additional Information 3:   458d
  Additional Information 4:   458df8454a027dcd13c9be03e524d289

Windows i take it? Back up your wallet.dat, remove all but wallet.dat and try again.

if issue persists , pm me your debug.log.

[SRBOOTH]

I keep getting APPCRASH after loading new wallet 0.30.16.8  , I have had earlier version and wanted to upgrade and play along. Also loaded fresh wallet and get this also ....?? Any ideas?
Wallet rescans everytime I try to load , here is crash details:

  Fault Module Timestamp:   003e0158
  Exception Code:   c0000005
  Exception Offset:   00000000009c9040
  OS Version:   6.1.7601.2.1.0.768.3
  Locale ID:   1033
  Additional Information 1:   7891
  Additional Information 2:   78919d816993304b4b9317e282839814
  Additional Information 3:   458d
  Additional Information 4:   458df8454a027dcd13c9be03e524d289

Windows i take it? Back up your wallet.dat, remove all but wallet.dat and try again.

if issue persists , pm me your debug.log.

OK, also how do I minimize wallet gui?

[alganonim]

Please update your clients

BN owners please note that @ block 145000 you will need to re-intialize your BN with a 50K input.

All other users can start a Bn with 50K @ 145K

Newest win wallet force close after update for me right after "Loading Done" message, so I deleted all except wallet.dat, all was ok until next opening and closing, same force close, so it's not stable for me.

As for BankNodes I will wait for compiled version and passing block 145K, don't see any sense in doing it now.

Ehhh and 4 days ago, I will try tomorrow again and will send you debug too, but it look like not only my problem.

Compiled new linux wallet would be useful too, for now I don't have even how to upgrade.

[bitcreditscc]

I keep getting APPCRASH after loading new wallet 0.30.16.8  , I have had earlier version and wanted to upgrade and play along. Also loaded fresh wallet and get this also ....?? Any ideas?
Wallet rescans everytime I try to load , here is crash details:

  Fault Module Timestamp:   003e0158
  Exception Code:   c0000005
  Exception Offset:   00000000009c9040
  OS Version:   6.1.7601.2.1.0.768.3
  Locale ID:   1033
  Additional Information 1:   7891
  Additional Information 2:   78919d816993304b4b9317e282839814
  Additional Information 3:   458d
  Additional Information 4:   458df8454a027dcd13c9be03e524d289

Windows i take it? Back up your wallet.dat, remove all but wallet.dat and try again.

if issue persists , pm me your debug.log.

OK, also how do I minimize wallet gui?

Click on the minimize button next to the close button

[bitcreditscc]

Please update your clients

BN owners please note that @ block 145000 you will need to re-intialize your BN with a 50K input.

All other users can start a Bn with 50K @ 145K

Newest win wallet force close after update for me right after "Loading Done" message, so I deleted all except wallet.dat, all was ok until next opening and closing, same force close, so it's not stable for me.

As for BankNodes I will wait for compiled version and passing block 145K, don't see any sense in doing it now.

Ehhh and 4 days ago, I will try tomorrow again and will send you debug too, but it look like not only my problem.

Compiled new linux wallet would be useful too, for now I don't have even how to upgrade.

I didn't see this post , will investigate. Mine works though

[thelonecrouton]

Please update your clients

BN owners please note that @ block 145000 you will need to re-intialize your BN with a 50K input.

All other users can start a Bn with 50K @ 145K

Newest win wallet force close after update for me right after "Loading Done" message, so I deleted all except wallet.dat, all was ok until next opening and closing, same force close, so it's not stable for me.

As for BankNodes I will wait for compiled version and passing block 145K, don't see any sense in doing it now.

Ehhh and 4 days ago, I will try tomorrow again and will send you debug too, but it look like not only my problem.

Compiled new linux wallet would be useful too, for now I don't have even how to upgrade.

I didn't see this post , will investigate. Mine works though

After every new build I need to delete mncache.dat, after doing that the wallet loads fine.