Post
Topic
Board Announcements (Altcoins)
Merits 1 from 1 user
[ANN][PYCH]PyChain - Python based PoW/PoS payment system [now without fork]
by
eljundrilo
on 30/09/2018, 14:32:58 UTC
⭐ Merited by tyz (1)
    https://i.imgur.com/gMgqB14.png
    • What is PyChain?
      PyChain is a Python-based Blockchain and is meant to provide two things:
      -An easy-to-understand reference implementation of a PoS coin, so that even beginners can read and understand the code with ease.
      -An easy-to-implement and easy-to-extend payment system with secure payment gateways for merchants and customers alike.
    Initially, PyChain was meant to be forked from Bismuth, as it is a really decent project with a different use case. The fact that the usecase is different and also a few untransparent features led me to decide against the fork. PyChain is now mainly from scratch.

    PyChain aims to be transparent and honest. I, for myself, encountered many scammers in the crypto market and I want to do something about that. To satisfy the oncoming PyChain community, all teammembers and I will provide transparency about our funds, spendings, and development process in the best manner.

    This project is NOT as flashy as most modern coins you can see. It is entirely built on the paradigm "Functionality over form" (We even lack a graphical designer yet)


    • Technical Summary
      • System: PoW until reference implementation for PoS is tested and ready to use
      • Hashing algorithm: Keccak384 (SHA3)
      • Signing algorithm: to be decided
      • Transaction size: to be announced
      • Mining reward: to be announced
      • Difficulty: dynamically controlled using Kimoto Gravity Wave
      • Difficulty retarget: each block
      • PoW rewards: 50,000,000 in total
      • PoS rewards: to be announced
      • Smallest unit:  0.00000001, similar to a Satoshi in Bitcoin
      • Efficiency and readability optimized
      • Asymmetric message and data encryption
    • What purpose does PyChain have?
      As mentioned above, PyChain is meant to provide an easy-to-understand reference implementation of a PoS / PoW coin in Python and will serve as a payment gateway for merchants and customers alike. Wallets for Windows and Linux(Debian based distros) are nearly ready to use.
      MacOS, Android, iOS are planned.
    • Exchanges?
      Exchange listings are expensive. As we've got no funds, we have to rely on either free exchange listings or community supported listings.


    • Any questions or concerns? Get in touch!

    For any kind of inquiries, either for hiring or any personal questions, don't hesitate to contact me!
    admin@pychain.io or  on any other of our communication channels.




    TIMELINE:

    • 24.06.2018 - Development began
    • 30.09.2018 - Bitcointalk ANN Thread
    • 3.10.2018 - Delay of Github release due to a flaw
    • 11.10.2018 - Release of Github, further announcements
    • November 2018 - Implementation Bitcoin-like RPC API and exchange listings
    [/list]