Re: [ANN][XCO] XCoin | CPU | NEW HASH ALGO | QUANTUM COMPUTING RESISTANT

I've just pushed out a mandatory update that will increase the incentive for mining, I think the original calculation was a little to harsh too quickly. The mining reward will jump quite a bit, and then have a more loose relationship with the difficulty. I think I've made really good progress and this will be great for XCoin.

Please update if you are :

- running a linux client or daemon
- running the windows full client (this should be out soon)

Miners running minerd are fine. This update goes into effect on block 5465.

If you miss this update message, worry not, just update and remote ~/.xcoin/chainstate and ~/.xcoin/blocks. Then you'll be good to go!

I thought that once a coin was launched, it was set. Is this not so? I was wondering about this also with the future encryption update planned; where transactions would be further obfuscated to hide identities. What keeps the coin from being manipulated in the future? I'm sure this is normal, but am compelled to ask how that works

Thanks to anyone who can explain this. Also, I think it would be good for the coin if this were explained here

Ahhh, I'm learning so much! Things I didn't wholly understand before comes to lite!!! AT this early juncture, with so few users, it is not hard to make adjustments to the block chain because, though you still need to get everyone to update the wallet (or at least 51% of the users), it's much easier to get a consensus to do so. Later it may be impossible. Hence the 51% attack. If someone could get control of 51% of the hacking power, they could insert a fake block chain, and it would be recognized as the correct block chain because more systems accept it than don't.

Of course this isn't changing the block chain, it's merely changing the algorithm.

Now I'm guessing that the plans for encrypting the transactions another level at some time in the future is not going to have any effect on the block chain, and therefore will work as any other updates developers add to a coin. Right?

This is all very interesting and I don't mean to imply it's not all on the up and up, 'cause I agree it's a good idea to make the coin more attractive to mine especially now a days with all the competition out there.

So now my question is, do I need to update my wallet even so I'm in a pool to receive the proper rewards or accept payment in the future?

You're logic is pretty sound

Basically, to adjust some of the core parameters at this point all I need to do is get the pools to update their wallets. Also, it's worth noting the changes I made didn't change the block chain in the past, but they go effect in the future. Users will also experience problems if they're using a full client, because it needs to understand the changes to the algorithm. So yes, you'll need to upgrade your wallet.

Xco.lotterymining.com didn't upgrade their wallet on they pool yet so they're out of business until they do. I sent the moderator a message earlier, but he hasn't gotten back to me. So I would mine somewhere else in the mean time, pool.xcoin.co is open for business and humming along if you want to join us.

well, updating now, but really i do need a little more time than that to change over, we have something called sleep too you know :-p

compiling as we speak...

This should be the last mandatory change that needs to be made until I start rolling out my encrypted transaction changes and sleep is overrated Grin