Re: [ANN][PRT] Particle | CPU/GPU, Fast, Easy Mine, * NO PREMINE * | Official Thread
Alright guys, I have to apologize for going "dark" again for the last week or two. I had a problem with the provider for the pool server, I secured the server and in the process their monitoring tools can't connect - so what did it do? It rebooted the server repeatedly. So I have been working on repairing it and will get it up and going again shortly. I have done some payouts over the past week but there are still a lot in the backlog, those will go out tonight. Thank you for your exceptional patience! (and remember, I do these entirely manually by cutting and pasting from a bunch of Excel spreadsheets!)
In bigger news...
We are going to reinvent Particle as a Proof-of-Stake coin called Particle X. This time I want to have the background and supporting materials ready to go before we pull the trigger, but here are some details:
Particle X will be a Proof of Stake coin with X11. There will be a 2 week period of PoW mining before it becomes pure PoS.
I am leaning towards 250M total coins. The coins will be split. 175M of Particle X coins will be mined and reserved for a coin swap for PRT (just like Saturncoin did, with an Exodus address that we can track and a script to automatically do the swap), at a 4:1 ratio. The remainder will be PoW mined on the pool. We could also consider doing half and half, with 350M total coins.
I think having another PoW phase is important to generate some publicity and community interest again and get the miner's more active.
Particle X will have a 5 minute PoS modifier interval and the same fast transaction processing that we enjoy with PRT today.
I am leaning towards 3%/year proof of stake but I am open to suggestions from you.
I'm working on a lot of stuff and it is a little overwhelming for one person, I will give it a few days before I finalize the code for PRTX and am happy to consider suggestions for the parameters. What we want is a coin that is fast, attractive, with a good long term economic model, that builds value for the investors and doesn't erode it, and that I can use as a platform to build all of these great things on top of it like Particle Shares (yes, that site is complete and will go live with PRTX).
What does PRTX mean for the android wallet? Proof of stake coins are hard to make android wallets for, I don't know of anyone who has completed one yet. For mobile payments and integration with the payment service/Proof-of-Sale system I think we will have to go the online wallet route. This is something we can leverage the exchange infrastructure, payment site, and PRT .Net code altogether to accelerate building it. There are a couple of sites out there that provide this service as well that we can look into getting added to.
For the PRTX Qt wallet I have taken Snotty's design from the .Net wallet and tried to implement that look and feel as best as I could. It will be very nice.
There is something else out of left field I think we should look into - a high end casino for PRTX. Not a rinky dink script, but a really nice one with international translations. If anyone knows of any resources for this please pass the info along.
So let me get the pool server sorted out and the payouts out. Mine as many PRT as you can, you're going to want to be holding onto them to swap out. And then I will get all of the materials together and published for PRTX.
I am open to any suggestions on the PRTX parameters. China is our biggest market and userbase, so any feedback on what configuration would be most attractive would be very helpful.
moonmoon , i think PRTX is really a good idea , exellent work ! In bigger news...
We are going to reinvent Particle as a Proof-of-Stake coin called Particle X. This time I want to have the background and supporting materials ready to go before we pull the trigger, but here are some details:
Particle X will be a Proof of Stake coin with X11. There will be a 2 week period of PoW mining before it becomes pure PoS.
I am leaning towards 250M total coins. The coins will be split. 175M of Particle X coins will be mined and reserved for a coin swap for PRT (just like Saturncoin did, with an Exodus address that we can track and a script to automatically do the swap), at a 4:1 ratio. The remainder will be PoW mined on the pool. We could also consider doing half and half, with 350M total coins.
I think having another PoW phase is important to generate some publicity and community interest again and get the miner's more active.
Particle X will have a 5 minute PoS modifier interval and the same fast transaction processing that we enjoy with PRT today.
I am leaning towards 3%/year proof of stake but I am open to suggestions from you.
I'm working on a lot of stuff and it is a little overwhelming for one person, I will give it a few days before I finalize the code for PRTX and am happy to consider suggestions for the parameters. What we want is a coin that is fast, attractive, with a good long term economic model, that builds value for the investors and doesn't erode it, and that I can use as a platform to build all of these great things on top of it like Particle Shares (yes, that site is complete and will go live with PRTX).
What does PRTX mean for the android wallet? Proof of stake coins are hard to make android wallets for, I don't know of anyone who has completed one yet. For mobile payments and integration with the payment service/Proof-of-Sale system I think we will have to go the online wallet route. This is something we can leverage the exchange infrastructure, payment site, and PRT .Net code altogether to accelerate building it. There are a couple of sites out there that provide this service as well that we can look into getting added to.
For the PRTX Qt wallet I have taken Snotty's design from the .Net wallet and tried to implement that look and feel as best as I could. It will be very nice.
There is something else out of left field I think we should look into - a high end casino for PRTX. Not a rinky dink script, but a really nice one with international translations. If anyone knows of any resources for this please pass the info along.
So let me get the pool server sorted out and the payouts out. Mine as many PRT as you can, you're going to want to be holding onto them to swap out. And then I will get all of the materials together and published for PRTX.
I am open to any suggestions on the PRTX parameters. China is our biggest market and userbase, so any feedback on what configuration would be most attractive would be very helpful.
i think 250M is fine and the ratio is OK ,but as you know there must be some coins disappeared and some holders dont do the swap , then what happen to the rest of PRTXs after the swap ? i suggest we make a deadline to the swap , and do the swap in ratio which depends on the amount of the swap PRT .
also , what will happen to those swapped PRT ? destroyed or still keep alive ?
finally IMO the 3% POS is too low , how about make it 5%? just my opion
cascorp from China
Hi, cascorp , I don't agree with you "make a deadline to the swap" .
"make a deadline to swap" will hurt it's previous investors , some investors just bought PRT and save them in wallet , they believe the long time development , They doesn't open their PC to check news frequently. If they miss swaping for PRTX within deadline , all their PRT will be worthless . That's not fair for them .
" make a deadline to swap" is very dangerous and complicated .
People hold PRT have the right to swap PRTX at any time , that's their right . and that doesn't affect the PRTX .
I have quite a few PRT on various exchanges and my wallet, and I don't check these forums all too often. I guess I would be one of those recreational investors. In fact I just made a bitcointalk account today, and I randomly decided to read this thread. So as an investor I could have easily missed this announcement and all my coins would have gone to waste. I am a huge fan of this coin and wallet, and perhaps upgrading to PRT X is a nice idea, but it sure is unfair to give investors a deadline to swap coins. I am sure many more investors are in my shoes (not very active in these forums and don't stay tuned to crypto news on a daily basis or weekly basis) and would just feel screwed over in the end. Also, how would we swap our coins? Through exchanges? Excuse my newbness.