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MemberActivity: 84Merit: 10http://stablecoin.net [ANN][SBC] StableCoin ¦¦ A new breed of cryptocurrency ¦¦ v1.2 RELEASED June 07, 2013, 03:51:15 AM

Last edit: November 28, 2013, 12:56:02 AM by artos #1 From Death Comes Life  The Rebirth of StableCoin



StableCoin has been relaunched. Please refer to the new thread from now on:





































VERSION 1.2 RELEASED - UPDATE YOUR CLIENT



This update reduces transaction fees (by 50%). Updating is therefore highly recommended.



Windows Client:

GitHub:



RETHINKING CRYPTOCURRENCY FROM THE BOTTOM UP



Extensive testing using network simulation software has shown that 40 seconds is the optimal block time. This allows ample time for blocks to propagate across the entire network. It gives us fast confirmations, while minimizing orphans and forking issues that we saw affect faster coins like WorldCoin and FastCoin. Long term, it will also help keep blockchain bloat down. Our testing has shown that a block time lower than 40 second makes a coin unsuitable for long term stability and growth. We recognize the desperate need for a fast confirming coin, and offer the sweet spot between speed and stability.



Scrypt was chosen as an encryption algorithm. Other candidates were Blue Midnight Wish, SHA3, and Skein. After much analysis we came to the conclusion that such algorithms make for a nice selling point, but fall short of Scrypt in terms of securing a blockchain. Our aim is to create the best coin possible, not lure you in with gimmicks.



We've changed the magic number for StableCoin. What is the magic number? It's an often overlooked, but very important, variable within the code of bitcoin. This value affects how the entire blockchain is formatted, and is a key factor in determining how peers are matched up over the network. Failure to change this value opens the door to many vectors of attack. Ever load up an coin client and have it start to download the Litecoin blockchain? That is because the developers of that coin neglected to change the magic number to a unique value.



Block reward is 25 coins per block, with a block target time of 40 seconds. Difficulty will be recalculated every 90 blocks, which is much lower than other coin releases. We choose this value for several reasons:



1) It allows the network to find it's natural difficulty much faster, ensuring a fair and accurate spread of coins.

2) It prevents blockchain stalling from ever happening. No one likes having to issue a hardfork.



We want StableCoin to be a steadily mined currency, not one that is pumped and dumped. These values will assist us in reaching that goal. A total of 250 million coins will be minted, with block reward halving every ~3.7 years.



We believe the strongest asset a coin can have is active, talented developers. We will be on the forum daily answering questions and resolving issues, as well as helping to grow StableCoin by working behind the scenes to develop and deploy services that will ensure success.





STABLECOIN SHOP



The StableCoin Shop is currently in development and will provide you an outlet through which to spend your coins. Gift cards, Steam games, and other digitally deliverable items will be offered for sale initially. Long term plans include Amazon.com integration, allowing you to order any item off of there. We plan on launching the shop sometime after release, after the market plays out and determines what each StableCoin is worth.



More information:





COIN MIXING SERVICE



Bitcoin is a relatively anonymous protocol, but there are still several ways to track the flow of coins and make associations. Thus, we plan on launching a free coin mixing service for StableCoin to make it the most anonymous coin out there. For example, a user can send in 1000 coins, and receive back 1000 completely different coins. This will be done in daily batches and in such a way that ensures complete anonymity. An amount (0.5% of total coins) has been created by us to act as the basis for this service. A small amount of these coins may be used for giveaways and bounties, as the community sees fit.



It will also be possible to use this service to send coins anonymously. The benefits of that should be obvious.



FAIR LAUNCH



In addition to a 12 hour preannouncement, StableCoin will use the fairest scaling reward system of any coin so far to ensure the fairest launch possible. This is to ensure that early miners do not have an advantage over join late. Our goal is to not have a disproportionate amount of coins created within the first 24 hours. Mined blocks will mature after 35 blocks.



Block 0-90 0 coins

Block 90-180 1 coins

Block 180-270 2 coins

Block 270-360 3 coins

Block 360-450 6 coins

Block 450-540 8 coins

Block 540-630 12 coins

Block 630-720 15 coins

Block 720-810 18 coins

Block 810-900 22 coins

Block 900+ 25 coins



RELEASE - VERSION 1.2



Windows Client:



GitHub: StableCoin has been relaunched. Please refer to the new thread from now on: https://bitcointalk.org/index.php?topic=349198.0 This update reduces transaction fees (by 50%). Updating is therefore highly recommended.Windows Client: https://github.com/stablecoin/stablecoin-qt/archive/master.zip GitHub: https://github.com/stablecoin/StableCoin Extensive testing using network simulation software has shown that 40 seconds is the optimal block time. This allows ample time for blocks to propagate across the entire network. It gives us fast confirmations, while minimizing orphans and forking issues that we saw affect faster coins like WorldCoin and FastCoin. Long term, it will also help keep blockchain bloat down. Our testing has shown that a block time lower than 40 second makes a coin unsuitable for long term stability and growth. We recognize the desperate need for a fast confirming coin, and offer the sweet spot between speed and stability.Scrypt was chosen as an encryption algorithm. Other candidates were Blue Midnight Wish, SHA3, and Skein. After much analysis we came to the conclusion that such algorithms make for a nice selling point, but fall short of Scrypt in terms of securing a blockchain. Our aim is to create the best coin possible, not lure you in with gimmicks.We've changed the magic number for StableCoin. What is the magic number? It's an often overlooked, but very important, variable within the code of bitcoin. This value affects how the entire blockchain is formatted, and is a key factor in determining how peers are matched up over the network. Failure to change this value opens the door to many vectors of attack. Ever load up an coin client and have it start to download the Litecoin blockchain? That is because the developers of that coin neglected to change the magic number to a unique value.Block reward is 25 coins per block, with a block target time of 40 seconds. Difficulty will be recalculated every 90 blocks, which is much lower than other coin releases. We choose this value for several reasons:1) It allows the network to find it's natural difficulty much faster, ensuring a fair and accurate spread of coins.2) It prevents blockchain stalling from ever happening. No one likes having to issue a hardfork.We want StableCoin to be a steadily mined currency, not one that is pumped and dumped. These values will assist us in reaching that goal. A total of 250 million coins will be minted, with block reward halving every ~3.7 years.We believe the strongest asset a coin can have is active, talented developers. We will be on the forum daily answering questions and resolving issues, as well as helping to grow StableCoin by working behind the scenes to develop and deploy services that will ensure success.The StableCoin Shop is currently in development and will provide you an outlet through which to spend your coins. Gift cards, Steam games, and other digitally deliverable items will be offered for sale initially. Long term plans include Amazon.com integration, allowing you to order any item off of there. We plan on launching the shop sometime after release, after the market plays out and determines what each StableCoin is worth.More information: https://bitcointalk.org/index.php?topic=235287.0 Bitcoin is a relatively anonymous protocol, but there are still several ways to track the flow of coins and make associations. Thus, we plan on launching a free coin mixing service for StableCoin to make it the most anonymous coin out there. For example, a user can send in 1000 coins, and receive back 1000 completely different coins. This will be done in daily batches and in such a way that ensures complete anonymity. An amount (0.5% of total coins) has been created by us to act as the basis for this service. A small amount of these coins may be used for giveaways and bounties, as the community sees fit.It will also be possible to use this service to send coins anonymously. The benefits of that should be obvious.In addition to a 12 hour preannouncement, StableCoin will use the fairest scaling reward system of any coin so far to ensure the fairest launch possible. This is to ensure that early miners do not have an advantage over join late. Our goal is to not have a disproportionate amount of coins created within the first 24 hours. Mined blocks will mature after 35 blocks.Block 0-90 0 coinsBlock 90-180 1 coinsBlock 180-270 2 coinsBlock 270-360 3 coinsBlock 360-450 6 coinsBlock 450-540 8 coinsBlock 540-630 12 coinsBlock 630-720 15 coinsBlock 720-810 18 coinsBlock 810-900 22 coinsBlock 900+ 25 coinsWindows Client: https://github.com/stablecoin/stablecoin-qt/archive/master.zip GitHub: https://github.com/stablecoin/StableCoin

StableCoin Forums: StableCoin Development Fund: shQpTvLDsgCURkfqyBuCjL79aqYwti2FEJStableCoin Forums: http://forums.stablecoin.net