March 2014

Viewing posts from March , 2014

Development Team Progress

Hello all, Webbs here

Lot’s going on at the moment so here is a little catch up so you are all up to speed with whats going on in Vertland.

Paul has been very busy contacting merchants to help progress the adoption of Vertcoin, he has also been interviewed by David Seaman check it out here, David has been a great voice in the Bitcoin community and we are glad he has been so vocal on Vertcoins potential.

The SPV wallet for Android has been released on the play store (thanks Jon) – download at https://play.google.com/store/apps/details?id=de.schildbach.wallet.vertcoin

A project to use Jons base VertcoinJ implementation in a desktop SPV wallet (ie. lite version, which doesn’t need to download a full blockchain) is already under discussion.

Darren has had his head down developing the new multi pool which will mine alt scrypt coins but will pay out in VTC, which I’m sure you are all as excited about as we are. Darren has also released a really useful tool for visualising the nethash distribution at http://www.verters.com/block-analysis which makes clearer than ever that if you are mining at Bitcrush, please stop and move somewhere else – Boris posted some facts and figures at Bitcointalk and the TLDR; version is that while Bitcrush may have only around 25% of the hashrate at present, pools bigger than around 15% or 20% of the network are not ideal – secure the network and participate in the decentralisation of VTC by finding a p2pool node close to you via http://p2pool.vertcoin.org/ or if you really must stay with a traditional pool, use the pools list at https://vertcoin.org/pools.html and choose a small pool.

Othe has been looking into the difficulty adjustment and continues to model various scenarios and is working on the options in the event it is decided that any modifications are necessary – at the moment, we consider this a preparedness project rather than something we are certain needs any work.

I myself have had a very busy week or so and subsequently the animation release has drifted slightly, my apologies,  I will be putting the cherries on top this coming weekend, big thanks to Zero_Fiat for volunteering  his stellar voice over work, he has also started a Vertcoin podcast so give it a listen, Keep it up J!

With the NY Crypto Currency conference fast approaching Joe is working tirelessly with all of the preparation and I will be helping him to make the booth look great, Joe and the guys are also getting some sweet looking demo equipment together too.

It’s World Water Day on March the 22nd and everyone needs to pat themselves on the back, the Vertcoin community came together to fund the water project and Moolah will be processing the payment that we go to helping make people lives better – Good job all!

It’s also been a great week for the community as a whole and we have seen a correction in the price and that makes everyone very happy, I’m especially happy as I took a hammering this week trading on a tip from another team member, I won’t mention any names but Joe thanks for the tip ;-) I am sad to say he got Karma on my tip the very next day, isn’t it funny how the world works?

With major ASIC manufacturers taking orders this week it looks like interest in VTC will only continue to rise.

Best

Team Vertcoin

Development Update

Hi everyone and welcome to the Vertcoin developers group. We’ll be posting here regularly to give you all an insight into what’s happening behind the scenes in the development group.

This week, a few things are in the works.

There’s a possible vulnerability in the Kimoto Gravity Well retargeting algorithm. Well, to be more accurate, the possibly vulnerability isn’t actually in KGW, it’s introduced by the fact that we (like a lot of other chains) retarget every block, whilst accepting timestamps no earlier than the median of the past 11 block timestamps, and no later than 2 hours ahead of adjusted time. It seems the implications are that a 51% attacker can change difficulty at will (something they shouldn’t be able to do). We’ve been building models of various solutions and discussing a number of options so we are prepared if the vulnerability should be proven on a live chain. There’s some discussion at https://bitcointalk.org/index.php?topic=504103.0 which may be of interest. The TLDR versions is – maybe there’s a vulnerability (we think there is) but it’s not 100% proven yet, and even if it is, it’s not a “steal your VTC” type vulnerability, but needs looking at nonetheless.

Further news in the technical side of things is that Bengt has been working on cold-wallets, so our client will soon be able to show you the balances of your cold-storage accounts, whilst keeping them unspendable. There are various complications in this, since we need to import public keys and display then whilst ensuring the wallet doesn’t try to spend inputs which it has no private keys for. I was supposed to be helping with testing and debugging for this last week, but I was very busy with other things so it’s been delayed – next time I see Bengt, I’ll discuss it with him further. I can’t give an ETA yet because it wouldn’t be fair for me to be commiting Bengt to timescales when I haven’t spoken to him, and the delay is down to me being busy recently, but I will say I am going to discuss it with him ASAP and we’ll get testing and validating as soon as we can.

Webbs has nearly finished our promotional animation – it’s very cool, and I have seen an early sample, but lots of progress has been made since then and I expect I’ll see another “nearly done” sample soon. We’ll probably release this around the time of the NYC conference, which Joe contacted me yesterday about (to check over some details before we commit to paying for the booth) and I need to look at those details later today.

In terms of other outreach and promotion work, I’ve seen a lot of activity with some Chinese marketers and investors that have been in contact with several members of the team, but I don’t know the fine details right now.