Starting again, for the “final” time

So, as we discover what we hope are the final technical problems with the network, we lurch towards what could be an actual release of an actual network.

There is still much coding to complete, but recent issues with the service have sought to identify obvious pain points and bring about yet more reliability.

So this reboot, why?

This coin system is a developmental project, and having so many miners makes changing things a bit awkward, but also is the only way to find issues at scale and get production ready quickly.

Part of this was also attempting to work out what the yield would be from the 1mb of ore. This was especially difficult to discover with just a few computers running code in an isolated environment.

So, with enough data to make all of the appropriate decisions about blockchain yield, size, speed & economy.

On that note, having taken note of your feedback on ANN and Discord, I have come up with the following model which the launch will adopt.

Thank you everyone for your feedback, based on people’s opinions and the technical problems of trying to hit certain likelihood levels, I have decided that the final network will be based on this:

Ore size: 1,048,576 bytes
Token address: 3 x 64 byte addresses
Ore possibilities: 1.152921504606847e18
Hash likelihood: 1 in 4084
Bean table: 36,000 * 5 bytes
Bean likelihood: 1 in 664,900
Estimated ore yield: ((1.152921504606847e18 / 4084) / 664,900) = 424,578,182 tokens.

So that makes the likely supply around 425MM Veldspar tokens of variable denominations.

Given the exceptional reduction in potential ore yield and to reduce likelihood of finding value down to meet that level, the “difficulty” in the non-traditional sense has to be balanced.

With all the tokens so-far mined, the essential difficulty is 1 in 6887, the difficulty will then become at launch 1 in 664,900.

This means, that when I re-process current mining finds back into the new blockchain and re-launch the service, they will have a reduction factor of 0.010357948563694.

So, that would mean that someone that holds 2MM veldspar, would start the new chain with a holding of 20,715.90.

These stats have been worked out by averaging out millions of hashes and beans against random data, until reliable figures were obtained to make all of the decisions.

How will this work?

I will stop the service, empty the chain. And I have a special miner that will mine back into everyone’s wallet the exact converted amount that they held before.

Then I will open the ports again, and people can use the network as before, but with transfers and multiple nodes. This will happen over a weekend, going off on a Friday night GMT, and back on end of Sunday GMT. Details of times will be provided nearer the time.

What will I need to do?

As of Friday, the existing miner & wallet software will not work. A new miner & linux wallet will be produced ready for everyone to start again when the service is turned back on.

Thanks

Napoleon Bonafrog (editfmah)

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