July 2015

Viewing posts from July , 2015

Hard Fork at block 347000

Vertans,

I am pleased to announce that the new version of Lyra2RE is ready. We will be hard forking to the new mining algorithm at block number 347000 (estimated to be around the 10th of August). In order for this to go ahead smoothly, everyone must update their wallet software to the latest version and miners must use the new miner software after the fork block. This update is MANDATORY; failure to upgrade could see your coins getting lost on the wrong fork. As referenced in my previous post, this update is intended to thwart the botnet mining on the network. The new algorithm provides a far greater ratio of GPU to CPU hashrate meaning that once again GPUs will become the dominant Vertcoin mining force.

Binaries for most platforms can be found here: https://github.com/vertcoin/vertcoin/releases/tag/v0.10.0.0. A 32-bit Windows variant is missing but if it has popular demand then I will get one released, otherwise I do not think one is really needed. The mining software for AMD, nVidia and CPUs are done and will follow shortly.

Kind Regards,

James

July Development Update

Vertans,

Since my last blog post, a botnet has started mining on the network and is taking up a large portion of the mining power (easily over 50%). As a result we have decided to hard fork the network to a refactored version of Lyra2RE with new parameters and different padding algorithms. Our current experimental changes have produced at least a 5x ratio of GPU to CPU hashrate. We hope with additional changes and optimisation we can further increase this ratio in order to nullify the botnet. I imagine the fork itself will occur some time in August after the wallet has been updated and new miners have been written.

The new test coin is effectively ready for release but is currently on hiatus due to our efforts in dealing with the botnet. It will be released shortly after the hard fork has occurred and the network has stabilised. It makes sense to hard fork Vertcoin first and then release the new coin so that we only have to fork one network rather than two. The coin itself will act as a testbed for future Vertcoin features and updates with more regular wallet releases. Most future changes will first be made to the new coin before being merged into Vertcoin itself once we have determined they are stable. This will allow us to be far more agile when prototyping new features without the fear of endangering the maturity and stability of the long established Vertcoin network.

I have not as of yet received any offers from people wishing to help us update the Android wallet. The bounty was originally set at 1000 VTC but I am willing to take offers from developers stating the bounty which would be required for them to complete the task. Once again, please do not hesitate to contact me at: jameslovejoy1@gmail.com.

Kind Regards,

James