Quote from: Solaris33 on August 05, 2017, 09:35:28 AM

Quote from: CryptoNick on August 05, 2017, 06:25:33 AM

Quote from: passionsurf on August 04, 2017, 03:37:51 PM

Quote from: Solaris33 on August 03, 2017, 01:14:08 PM

SolarCoin Generator Pool Security
The SolarCoin Foundation has made securing the SolarCoin Generator Pool a top priority for 2017 to help give future and current SLR owners certainty about the source and amount of SolarCoin released into circulation. After much research and debate, balancing security and simplicity, the SolarCoin Foundation proposes a time lock on the Generator Pool. The details are being finalized, but the approach would be similar to what Ripple has communicated: https://www.coindesk.com/ripple-pledges-lock-14-billion-xrp-cryptocurrency

Some common wallet security practices for cryptocurrencies that the SolarCoin Foundation considered are:
-Cold Storage of wallets - Currently implemented for the generator pool and would continue to be operational for any wallets not time locked
-Very small amount of coin available for issuance at any one point in time (reduce risk by shrinking the size of the target) - Timelock of generator pool accomplishes this goal.
-Multi-signature authentication (m of n) from separate resources to access wallets - Currently implemented for the generator pool distributed internationally
-Proactive security of posting 100% collateral to access wallets - Decided against because of smart contract implementation complexity

The SolarCoin Foundation welcomes the community to comment on this important security requirement.

Implementation of these factors definitely seems to be important for the health of this coin long term. I'm especially excited by limited amount of coin available for issuance at any one point in time. This coin really seems to have a strong future ahead!

That is just the security behind the Generator pool. There are always 98 Billion coin available for Claims and 500M for Development is also available at any time.

There are approx 97.5 Billion SolarCoin in there generator pool. With the time lock functionality implemented, they will NOT be available for claims at any time. Only a very small portion will be.

I wrote that wrong, I meant the 500 million would be available at any time. Unless that is also time locked? I know 500 Million is only because the devs didn't know if the price would be more than 1 satoshi which at todays price of Bitcoin is only about $15K. How much of the 500M has been used so far?