Guess you need to read my post above - what I said was MTP appears to be less memory hard than the hash it replaced. I think your preoccupation with MTP as Zcoin's revolutionary development when in fact it's staring to look worse than the hash it replaces is a very big deal. The market's down 10%. I'm sure you've got a reserve to stem the flow and there will be a dead cat bounce, but not indefinitely and this will play out badly over a week.
Which is it Reuben, "We don't forsee any further changes on the MTP algorithm itself" that you wrote, or what you wrote in the post after that that you reserve the right to change the algorithm at any time so ASIC developers should be scared?
I did not say that MTP being flawed necessarily made the network insecure transactionally. Though given the lack of memory hardness supposedly now patched it poses theoretical risks of 51 per cent attacks by ASIC maker, but that's a side issue and not my point. My point is the last several months have all been about MTP, and now it turns out it could be worse than the existing Lyra2 in terms of memory hardness. That is a massive problem, spending months without fruitful result. Now you're working on functioning wallets? Like 10 months after launch or whatever we are?
I have previously posted about the Zcoin hack here
https://www.reddit.com/r/CryptoCurrency/comments/6379u9/zcoin_bug_a_deliberate_inside_job/ which I believe was an inside job. I was willing to let sleeping dogs lie on the matter, it wouldn't be the first time it had happened, and the developers would still want the coin to go up as much as investors and miners. But I just see the reputational hits keep on coming. You guys are smart, but maybe not smart enough and too young?
Look I can't really guess which way Zcoin holders should jump, for goodness sake if you're not invested wait some weeks til the dust settled, especially if the devs run out of reserves to inject liquidity to try and hold Zcoin's price from tanking.
Are you serious? This is "damage control"? The "worst case" scenario is you have staked all on a much vaunted and praised hash MTP that was designed to be more memory hard than the existing hash. In fact, it turns out to be less memory hard by orders of magnitude. This wasn't announced by Zcoin staff, but discovered by a miner who came on here to complain.
You don't have a working wallet, no roadmap for incentivised nodes, and now this MTP that consumed all your effort turns out to be worse than the existing hash. You must realise the reputational damage this causes, both the discovery, and moreover that you didn't announce the discovery as soon as you were aware of it but rather it was discovered by miner coders.
I warned weeks ago on this thread that I thought it was a mistake to focus on MTP at the expense of a wallet. I don't know if the Coinomi wallet works for Zcoin, I haven't used it, but it's clear from all the complaints on this thread that your "new" "fixed" desktop wallet does not.
Guess you need to read the paper and what I wrote. The worst case scenario is the absolute worst case scenario
WHICH HAS NOT HAPPENED. The only reason why I bring this up is that many lay people would go omg Zcoin PoW is broken gg without bothering to read what this attack entails and if we did nothing or cannot fix it (which isn't the case). What this attack (if successful) is saying is that MTP isn't as memory hard as it claims to be but it doesn't mean it's 'broken' per se. A question to ask can be is x11 broken? Is Litecoin's Scrypt broken? They're not but they weren't as ASIC resistant as they thought they were.
Again, I repeat...
THIS HAS NOT HAPPENED. MTP is still memory hard until further research shows otherwise and we welcome the scrutiny.
The paper's author itself said their proposed fixed
completely fixes the attack but remains to be seen if there are other ways to attack. Basically a 'I suspect there may be ways but I don't know and we should research further'.
Now, this isn't the first time the MTT attack was brought up and was left in comments in various news articles which I believe we responded to. We also responded to various pms to us on this. Does it technically affect Zcoin right now in anyway? No. Heck it's on testnet. Is it fixed? Yeah and will continue to be improved. Would we want a bit more clarity from the researchers before putting out a full announcement on a non critical issue? Our discussions with Dmitry only happened in the last week of June and is still ongoing. Usually how it happens is that until you fix it, you don't announce it unless you know you can't fix it. Monero does this as well as I think most projects or even vulnerabilities in general. And again, this is on TESTNET. That's the whole point of the testnet. We knew we could fix it and we wanted the fix in place before an official announcement on it and were picking some brains to just make sure we understood the current situation well enough.
The wallet upgrade Bitcoin core is proceeding very rapidly which would improve the wallet experience which right now is only bad on the first initial sync. However Coinomi completely works. We went through this discussion before so I won't repeat it.