Commercium Newsletter July 1, 2018
Inside:
- WHAT IS CMM?
- LISTINGS & PLATFORM INTEGRATIONS
- DEVELOPMENT PROGRESS
- 51% RESISTANCE RESULTS
CMM is Commerce Made Modern
We are ecstatic to announce the first monthly newsletter for Commercium! This is a new blockchain project focused on bringing near zero fee remittance integrated with simple, secure and scalable accounting for businesses of any size using cutting edge financial technologies. Each month we will strive to bring you the most informative content about our progress here at Commercium. The team has set out this past month to create an ecosystem of contributors to attack these challenges head on. There are now 10 contributors on board, with roles from social media, to marketing, development and administration. We have grown to over 4,000 Twitter followers, too!
The BEST place for info and progress is our Discord, which has over 1,750 members. The buzz is growing and we invite you to be a part of it today. All of the developers are there to answer questions.
You can find all of our active bounties and incentives inside the #Bounties channel in Discord. Check often as they change frequently and new ones are added all the time.
Markets, listings and apps… Oh MY!
This past month, CMM went from being tradeable only over the counter (OTC) to being listed on 3 exchanges and prepared for a 4th:
- Crex24 - https://crex24.com/exchange/CMM-BTC
- Crypro-Bridge — https://wallet.crypto-bridge.org/market/BRIDGE.CMM_BRIDGE.BTC
- BarterDEX — https://komodoplatform.com/decentralized-exchange/
- SAFEcoin Exchange — In Process https://safe.trade/
Crypto-Bridge and Crex24 listed CMM in June, and the latter had a recent CMM trading promo. The results for this promotion are pending final review. The CMM team also worked with the good people at Komodo to get the coin listed on BarterDEX, a decentralized exchange. Finally, the SAFEcoin team has decided to add CMM to their brand new exchange based on SAFEcoin community voting. Preparations are in process to add Commercium to the platform.
Cheddur — https://www.cheddur.com/coins/commercium — a mobile app for Crypto research has graciously added Commercium to the database. Stop by the site and leave a review if you have anything you want to share about our project as a user.
Coincodex — https://coincodex.com/crypto/commercium/ and CoinLib — https://coinlib.io/coin/CMM/Commercium have also added CMM for more information on the project and price history. CoinLib provides tools for website builders to include widgets and APIs for integration.
Mining calculators are a good way for miners to determine what coin is worth their time to mine at the current moment. We are listed on Crypto-Coins.net https://www.crypto-coinz.net/crypto-calculator/ as well as What To Mine www.WhatToMine.com.
Development progress is a process.
Nothing worthwhile ever happens fast in life. Greatness takes time. The lead Developer has been working more than full time to hammer out the incoming Commercium Apostille fork. In the past month we have also seen a new web wallet, as well as desktop wallets for Ubuntu, OSX and Windows.
Commercium now has 2 electrum servers set up to facilitate a light wallet installation and seamless integration with future partners. This will enable Lite mode on BarterDEX and other services that include electrum servers for wallet communication.
*************************Electrum Servers***************************
elec01.commercium.net — 50002
elec02.commercium.net — 50002
>>> without ssl, it is 50001
*******************************************************************
Once the new wallets are out of beta, the Commercium Apostille block fork can be set and this part of the project development can be put to rest, making many stakeholders very happy.
Commercium Apostille collateral requirements
With the initial coding for the Commercium Apostille complete, the collateral requirement has been set to 20,000 CMM. In the future, the developers are working on allowing for varying collateral based on increments of 10,000, up to 40,000. This would help stakeholders by being able to pay up to 75% less on VPS hosting and allow a lower ceiling for entry for receiving Apostille rewards. Server requirements will be announced within the next two weeks.
The shot heard round the world…
re·sist·ance — /rəˈzistəns/
- The ability not to be affected by something, especially adversely.
proof — /pro͞of/
- able to withstand something damaging; resistant.
In the last month, the lead developer has been working on a unique feature, unintended at first, but quickly it has become a point of focus. It appears a part of the Commercium code may make the chain resistant to 51% attacks. You can’t just claim something that powerful and not back it up. Internal simple testing showed that the chain was in fact resistant, due to a number of features of the coin and the attackers had to work for days to complete the task. Commercium reached out to the crypto community and specifically the team at Komodo, a project based on dPoW and 51% resistance, to accept a bounty offer and try to 51% attack the chain. After a few days of failed attempts (resistant) they eventually found a chink in the armor. Our lead developer has gone back to the drawing board to close this gap in our defenses.
While Commercium is not 51% proof, and no one is, not even Bitcoin, it’s a fantastic step towards resistance and better blockchain security. See Anthony’s message below regarding this recent testing and the solutions being implemented to further protect the system.
When asked for the final report on the 51% attack, Anthony responded with the following:
While it took days, it was still possible to force a reorg (reorganization of blocks which results in the blockchain switching to a malicious chain instead of its own). The only way to protect a blockchain is to have checkpoints put in every 1–5 blocks which result in the inability to swap to a malicious chain because the malicious chain will not have the checkpoint included. The ways to protect yourself are usually a PoS with PoW or just PoS blockchain. We would like Commercium to be a 100% PoW chain until the necessity to swap to PoS.
“ For this we have invented the following system”:
This system could be adopted for completely decentralized blockchains, but as Commercium is a blockchain in conjunction with business; We believe it’s necessary to have the secondary checkpoint lookup service or CLS be invite only for the moment. These ‘DNS’ servers will all load the latest tip or block on the blockchain and then write it to file as a checkpoint.
checkpointData = {
.mapCheckpoints = {
{11111, uint256S(“0000000069e244f73d78e8fd29ba2fd2ed618bd6fa2ee”
“92559f542fdb26e7c1d”)},
For example here we have checkpointData from the chainparams.cpp.
This data tells which block: 11111, and the blockhash.
These can be looked up by the node on the fly, and every 30 seconds the CLS ‘servers’ will report back to a node the current checkpoint. Resulting in the chain inputting the correct blocks every 30 second. When an attacker creates a malicious chain on the side it will not include these blocks which will result in failure when attempting to reconnect the malicious node to the network.
Another way would be master nodes, but not all chains want to include master nodes.
At Commercium we are implementing master nodes and a perfect scenario to stop attacks is to have the nodes actually mine their own block every other block or two or three. This way it would result in a failure to attack because the node did not mine a block.
These are some scenarios that we have been working on and will be implementing in the near future. Honestly when someone has drive and motivation to attack your blockchain, the chances are they may succeed. The only thing we can do is implement protections from known and unknown events. It’s critical for the survival of the blockchain that these implementations can be decentralized and trusted.
~Anthony
In Closing:
We are looking forward to sharing many more developments each and every month with you.
Be sure to subscribe to our Medium account, join our Discord and follow us on Twitter.
Things to watch for in the next month:
Commercium Apostille activation, setup guides, ROI calculators as well as new exchanges, apps, a CMM merchandise store as well as new businesses to spend your CMM at!
#PaywithCMM
