[UNOFFICIAL] [VNL] Vanillacoin 0.4.1 | Instant ▱ Incentivized ▱ Innovative

[MemoryShock]

I have a question - if VNL is currently operational at single confirmations than why does Polo still require 9?  If coins are spendable after a minute or two from sending and an exchange requires an additional amount of time for confirmation than how is the better technology applied?  Is this something that will be fixed in the future or is it that exchanges have their own policies which may have an effect on specs?

[pseudonymdude]

I have a question - if VNL is currently operational at single confirmations than why does Polo still require 9?  If coins are spendable after a minute or two from sending and an exchange requires an additional amount of time for confirmation than how is the better technology applied?  Is this something that will be fixed in the future or is it that exchanges have their own policies which may have an effect on specs?

Exchanges will have to understand the technology in order to know how many confirmations are necessary.  The Poloniex wallet operator said he would look into it.  Give it some time.

[MemoryShock]

I have a question - if VNL is currently operational at single confirmations than why does Polo still require 9?  If coins are spendable after a minute or two from sending and an exchange requires an additional amount of time for confirmation than how is the better technology applied?  Is this something that will be fixed in the future or is it that exchanges have their own policies which may have an effect on specs?

Exchanges will have to understand the technology in order to know how many confirmations are necessary.  The Poloniex wallet operator said he would look into it.  Give it some time.

I was presuming such; just curious.  I'm only playing with a small amount of VNL to get more and it was something that I noticed...

[john-connor]

I have a question - if VNL is currently operational at single confirmations than why does Polo still require 9?  If coins are spendable after a minute or two from sending and an exchange requires an additional amount of time for confirmation than how is the better technology applied?  Is this something that will be fixed in the future or is it that exchanges have their own policies which may have an effect on specs?

My expectation is for exchanges to use two confirmations for single confirmation transactions and one confirmation for zero confirmation transactions. Any amount of confirmations greater than this doesn't offer any increase in security.

Thank you for your support.

[MemoryShock]

I have a question - if VNL is currently operational at single confirmations than why does Polo still require 9?  If coins are spendable after a minute or two from sending and an exchange requires an additional amount of time for confirmation than how is the better technology applied?  Is this something that will be fixed in the future or is it that exchanges have their own policies which may have an effect on specs?

My expectation is for exchanges to use two confirmations for single confirmation transactions and one confirmation for zero confirmation transactions. Any amount of confirmations greater than this doesn't offer any increase in security.

Thank you for your support.

Thank you for the reply...

[stevemerkle]

I have a question - if VNL is currently operational at single confirmations than why does Polo still require 9?  If coins are spendable after a minute or two from sending and an exchange requires an additional amount of time for confirmation than how is the better technology applied?  Is this something that will be fixed in the future or is it that exchanges have their own policies which may have an effect on specs?

My expectation is for exchanges to use two confirmations for single confirmation transactions and one confirmation for zero confirmation transactions. Any amount of confirmations greater than this doesn't offer any increase in security.

Thank you for your support.

1 or 0 confirmation transactions would make this whole cryptocurrency thing seem a lot more practical.

[pokeytex]

Does anyone happen to know what the hash rate will be on a mojo v3 fpga?

[ocminer]

Does anyone happen to know what the hash rate will be on a mojo v3 fpga?

I'm interested too - and I'd love to do some beta testing as I've got several ZTEX boards over

[luckygenough56]

I have a question - if VNL is currently operational at single confirmations than why does Polo still require 9?  If coins are spendable after a minute or two from sending and an exchange requires an additional amount of time for confirmation than how is the better technology applied?  Is this something that will be fixed in the future or is it that exchanges have their own policies which may have an effect on specs?

My expectation is for exchanges to use two confirmations for single confirmation transactions and one confirmation for zero confirmation transactions. Any amount of confirmations greater than this doesn't offer any increase in security.

Thank you for your support.

Very cool John !

[STEALTHMODE]

I have a question - if VNL is currently operational at single confirmations than why does Polo still require 9?  If coins are spendable after a minute or two from sending and an exchange requires an additional amount of time for confirmation than how is the better technology applied?  Is this something that will be fixed in the future or is it that exchanges have their own policies which may have an effect on specs?

My expectation is for exchanges to use two confirmations for single confirmation transactions and one confirmation for zero confirmation transactions. Any amount of confirmations greater than this doesn't offer any increase in security.

Thank you for your support.

1 or 0 confirmation transactions would make this whole cryptocurrency thing seem a lot more practical.

I think so too, especially the zero confirmation will be very important, so it can and will be used a lot more for everyday purchases!

[maccaspacca]

I'm ever the person to do a quick pitch in the Bitcoin Reddit

http://www.reddit.com/r/Bitcoin/comments/35rcs7/only_software_can_stop_bitcoin_and_to_do_that_its/

[YarkoL]

John is going to post an explanation soon on how secure single confirmation transactions are possible on VNL. Since VNL's codebase is different to Bitcoins or Peercoins this could be made possible without risking doublespends or any security issue.

Any news on this?

sounds awesome.. but how do you prevent multiple forks?

[Nthused]

John is going to post an explanation soon on how secure single confirmation transactions are possible on VNL. Since VNL's codebase is different to Bitcoins or Peercoins this could be made possible without risking doublespends or any security issue.

Any news on this?

sounds awesome.. but how do you prevent multiple forks?

VanillaCoin uses a consensus system so forks don't happen.

[YarkoL]

VanillaCoin uses a consensus system so forks don't happen.

Hm? Is there something preventing a transaction to
be included in different blocks by different miners?

I took another glance at the whitepaper and didn't see
an explanation. Even though the single confirmation claim
is pretty revolutionary IMO

[hankrules]

the single confirmation claim
is pretty revolutionary IMO

It seems that it's already implemented?  I transferred some coins today and it appeared to complete after one transaction.

[YarkoL]

It seems that it's already implemented?  I transferred some coins today and it appeared to complete after one transaction.

It can be implemented in just any coin
by simply altering the number of required confirmations,
but doing so you'll compromise the network security.

This is how the Bitcoin dev guide addresses this issue:

1 confirmation: The transaction is included in the latest block and double-spend risk decreases dramatically.
Transactions which pay sufficient transaction fees need 10 minutes on average to receive one confirmation.
However, the most recent block gets replaced fairly often by accident, so a double spend is still a real possibility.

How does VNL prevent the recent block being replaced by reorganization without
forking the chain?

[traumschiff]

It seems that it's already implemented?  I transferred some coins today and it appeared to complete after one transaction.

It can be implemented in just any coin
by simply altering the number of required confirmations,
but doing so you'll compromise the network security.

This is how the Bitcoin dev guide addresses this issue:

1 confirmation: The transaction is included in the latest block and double-spend risk decreases dramatically.
Transactions which pay sufficient transaction fees need 10 minutes on average to receive one confirmation.
However, the most recent block gets replaced fairly often by accident, so a double spend is still a real possibility.

How does VNL prevent the recent block being replaced by reorganization without
forking the chain?

John stated that he will make an official explanation regarding how it exactly works, meanwhile he posted this on a few days ago: http://pastebin.com/fxLUsnPx

Thing is, John isn't really the man to explain everything in the smallest detail, but he never failed us with the features.

Let's wait a bit for his final words on this.

[malickie]

So my wallet doesn't appear to be staking.  I don't know if it is because I have such a small amount (6.138654) or not.

[groggin]

So my wallet doesn't appear to be staking.  I don't know if it is because I have such a small amount (6.138654) or not.

 you'll need to accumulate some coin-age to get that stack to stake. just don't move them for some time. if i remember right max coinage is 365 days

[john-connor]

John is going to post an explanation soon on how secure single confirmation transactions are possible on VNL. Since VNL's codebase is different to Bitcoins or Peercoins this could be made possible without risking doublespends or any security issue.

Any news on this?

sounds awesome.. but how do you prevent multiple forks?

In order to prevent multiple forks they'd have to first exist, instead you prevent the cause of them.

Thank you for your support.