Search content
Sort by

Showing 4 of 4 results by Solution42
Post
Topic
Board Announcements (Altcoins)
Re: [ANN] [SUMO] SUMOKOIN - 🔏 Digital Cash For Highly-Confidential Transactions 🔏
by
Solution42
on 11/03/2018, 19:32:49 UTC
ASICs for cryptonight were recently announced.  How is the Sumo team going to address this issue?

This ASIC (if a 60Watt ASIC really exists) has an output of 20 kH/s.

Now bare with me

Sumokoin has a global hashrate at the moment of 20 MH/s while its peak was 60 MH/s. Lets use an average of 40 MH/s
In order just to double the average total network hashrate of Sumokoin, which is 40,000kH/s, it would take 2,000 ASICs mining Sumokoin only.
Each ASIC costs 3600$, which means that people will have to spend 7.2 million dollars to buy ASICs and mine only Sumokoin with them
This is 2.3 times more money than the entire Sumokoin current marketcap

Now lets talk about Monero, Monero's average total hashrate is 1 GH/s https://www.coinwarz.com/network-hashrate-charts/monero-network-hashrate-chart
In order just to double the average total network hashrate of Monero which is 1,000,000kH/s it would take 50,000 ASICs mining Monero only.
Each ASIC costs 3600$ which means that people will have to spend 180 million dollars to buy ASICs and mine only Monero with them.

Baikal must produce and sell hundreds upon hundreds of thousand asics for them to have any actual effect on any coin

IMHO it would be irresponsible to risk the integrity of the coin for an insufficiently proven threat.

EDIT: If an ASIC with an output so large that can potentially affect our network's total hashrate is produced in the future then we will start considering a solution, but that's a hypothetical issue, not a real current one, so we wish to remain focused on improving our coin cryptographically atm.


Maybe a better question would have been 'is it an issue?'  Apparently not.  Thank you for your explanation.
Post
Topic
Board Announcements (Altcoins)
Re: [ANN] [SUMO] SUMOKOIN - 🔏 Digital Cash For Highly-Confidential Transactions 🔏
by
Solution42
on 11/03/2018, 16:41:18 UTC
ASICs for cryptonight were recently announced.  How is the Sumo team going to address this issue?
Post
Topic
Board Announcements (Altcoins)
Re: [ANN][Airdrop] - Electronic Dollar
by
Solution42
on 01/03/2018, 20:24:23 UTC


The second receiving wallet has the balance received but has no transactions/the transaction history is empty.

Same over here.  The spent amounts are showing in the CLI wallet though.  Just not the GUI.  Also on the Dashboard, it only displays 'Sent' transactions under latest transactions, and not 'Received' transactions.
Post
Topic
Board Announcements (Altcoins)
Re: [ANN][Airdrop] - Electronic Dollar
by
Solution42
on 01/03/2018, 18:07:15 UTC
Terrific update!  Just downloaded and started the GUI wallet, and thought to share my experience.  Had a problem importing from wallet file, as it would not connect to the daemon.  It suggested to manually start the daemon, but chose not to.  So I used the 'Restore from seed' function, and that got it moving properly and synced up after a minute or two.  After closing and reopening again, I chose the 'Restore from wallet file' and it worked perfectly.  Closed and reopened different wallets multiple times, works every time.  When trying to send to another address, right clicking in the address box of the 'Send' tab brings up a list of greyed out options, leaving you unable to paste the destination address.  This was worked around by using the keyboard shortcut.   *Don't know what happened that time, whoops.* The transaction took about 6 minutes from initial send pending to confirmation.  Seems to work great.

The layout is nice and easy on the eyes.  And I like the blue-purple tone.

Thanks for the hard work!