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Unfortuntely it is not enough to be private. Do you plan to implement any functionality of smartcontracts? Or it will just coin?
Could you make some comparsion with another Cryptonote coins, it will help to se the difference.
Thanks
Could you make some comparsion with another Cryptonote coins, it will help to se the difference.
Thanks
We don't have any plans to integrate smart-contracts in the near future, however, I'll quickly mention some of our current and long-term goals.
=== Some Current Goals ===
***Note that these are not all of the projects we are working on right now, just some I felt like mentioning***
*We are currently working on a mobile app unlike the mobile wallets of other cryptos. We aim to abstract all of the complexities of using a cryptocurrency. We aim to let anyone benefit from Ombre's fast, cheap and private transactions, but without having to understand, or even think about, the underlying technology. As an example, you will be able to essentially have a balance in your wallet in USD (or whatever currency you want). If you want to transfer X amount of USD to your friend, you simply click a button saying transfer X USD to the desired person on your friend list (or by the destination's username). Without getting too specific, the app will securely and quickly handle all of this by automatic conversions to and from Ombre. This removes the need for trust in a central company (ie venmo/paypal), would be essentially free (tiny fee) to use by both parties (currently paypal makes their money by charging the vendors, not the customers), and gives you complete control over your money. There would be no need to wait 5 days to withdraw your funds from the app and wait for them to be deposited in your bank account (as is the case with Venmo). This app could appeal to everyone outside of the crypto-community, from college students sending each other money, to (hopefully, eventually) institutions using the platform to accept payments.
*Of course, we will also have a standard (but heavily optimized) mobile wallet targeted for experienced crypto users, that want complete control over their node. One of our core developers actually also created Sumokoin's mobile wallet (Sumo's wallet is actually published under his Google Play developer account!).
*Its also worth briefly mentioning that we are also actively researching various optimizations related to cryptonote coins - some of these could have drastic impacts on performance.
*We are adding more functionality to the website. It will be much more informative, and will have more useful embedded resources.
===Future Projects We Are Considering===
Please note that this list is not close to being comprehensive, its just a small sample!
Also these projects are not in active development yet, they are still in the planning and design stage.
*We are researching a better solution to ASICS than cryptonight-heavy. I personally believe that cryptonight-heavy is simply a band-aid rather than a permanent solution. It definitely will be ASIC resistant for a few months or maybe even years, but theres nothing about the algorithm that makes it financially impossible to develop an ASIC for it. The main protection it provides right now, is that current ASICs aren't compatible with it, and the time (and cost) to develop a new ASIC is relatively large. Thus, we are exploring options that would permanently prevent ASICs from being able to mine the coin (profitably). A hurdle with this, is that any algorithm run on a GPU or CPU can inherantly be performed better by an ASIC - the question is how expensive it would be to make.
*This is a long-ways away (1y+), but we also aim to build a 'debit card' that would be linked to your ombre wallet. I won't get into the details about how this would work right now, but essentially, it would allow you to buy things that require FIAT payment, using a card that automatically and instantly converts the correct amount of Ombre to FIAT. Imagine not worrying about the complications of using a credit or debit card (overdraft fees, withdrawal fees, having your funds frozen, etc), while still having access to all the benefits and conveniences associated with credit/debit cards.
======
TLDR; We are currently working on the essentials to make sure our underlying tech is rigid, and we have all the software needed to use the coin normally. Once we have the foundations working rigidly, safely, and free of bugs and problems, we will move to our next stage of development.
The following is just my opinion. If we can successfully show that Ombre can be used just as easily as FIAT, while also being safer, private and faster, we could potentially to revolutionize how society views and uses currencies. I hate using buzzwords such as 'revolutionize' or 'disrupt', but given that this could fundamentally change how currencies work in society, I think the buzzword is appropriate
I just wanted to share all of this, so that the community knows at least part of the vision of the project!
I apologize for the quality of my writing right now, I'm very sleep deprived!
If you still can't get the current wallet to work, try using the previous release, this works for most people. There are some bugs in the current release that we are working hard on fixing. The current version should be patched and fully functional soon.
I'm haveing some issues sending ombre from my wallet to VIC. Getting : address is not valid (debug message) length might may need to be set to 99.
Any ideas what might be wrong?
PS. It' not the address hats the issue, have tryed sevral
Any ideas what might be wrong?
PS. It' not the address hats the issue, have tryed sevral
Hmm, I wrote that debug message, what version of the GUI are you using?
The website does not work. 
Hey, its currently under development and a lot of bugs will be fixed soon (as well as new features being added). However, the website should work as it is in a limited form. What do you mean it doesn't work? Do you mean it won't load at all (500, 404, etc)? Do you only see a white screen? Will the website load, but parts of it aren't visible?
Also what browser are you using, the site currently does not support internet explorer, but support for that will come relatively soon.
Can't the mixing only be done if enough people want to transact at the same time? If you enforce a higher minimum of mixing rounds, could that lead to waiting times or how does it work?
Hey, essentially, the mixins automatically are routed through existing wallets - they don't need to necessarily be running a transaction at the same time.
However, you are correct, enforcing a higher mixin results in longer waiting times as you need to wait for the funds to be routed through the increased number of 'proxy' wallets.
Additionally, a higher mixin size can result in higher transaction costs.
We picked a ring-size of 10 for a couple of reasons. Firstly, there is no evidence to suggest that a ring-mixin size of 12 is statistically safer than a size of 10. Some evidence was put forward to suggest that there would be no security benefit incurred above a size of 4 (which is what Monero originally used, you can read about their original decision in this Monero Research Lab paper: https://lab.getmonero.org/pubs/MRL-0004.pdf).
However, a paper was put forward suggesting that this default ring-size was linkable (https://arxiv.org/pdf/1704.04299.pdf). Monero labs published an official response addressing this paper.
In a nutshell, lots of discussion happened within community, and many believe that 10 is the ideal minimum for preserving security (https://github.com/monero-project/monero/issues/1673).
We countered the downside of the increase in transaction time by reducing the mean time between blocks from 240s to 60 seconds (which is still considered safe, even though it can increase the number of orphan blocks created, causing the blockchain to become a little more bloated). This substantially increased transaction speed, even when using a mixin size of 10. Additionally, we (@SadBatman) implemented some compression on the blockchain to counter the effects of transmitting/ downloading the slight additional bloat this incurred.
Finally, some other things were done to reduce transaction costs such that the cost incurred from this ring-size was negated. I wasn't directly involved with reducing the transaction costs, so I can't speak in great detail about it. But, I believe we actually reduced the transaction costs by significantly more than just the amount required to counter the incurred ring-size cost.
any plan to list on a exchange?
Yes! We have reached out to a couple exchanges - we will keep the community posted as we learn more / get further along the process with them
Can't you publish your wallet?
What do you mean?nice comments in github - Start Sumokoin project at least it is clear from what coin copied )
We aren't trying to hide our roots
We are just trying to improve them.
Re: [ANN] [SUMO] SUMOKOIN - 🔏 Digital Cash For Highly-Confidential Transactions 🔏
Hello everyone - this is not a FUD post, however, it does intend to open an important dialogue for everyone that doesn't actively read the subreddit.
In a nutshell, 7m Sumos are unlocked in 2020 by the devs, meaning that they will control 25% of all coins.
The post I'm referencing can be found here: https://www.reddit.com/r/sumokoin/comments/7rb9qz/dear_core_team_can_we_talk_about_the_7million/
I'll also copy and paste it below for reference:
In a nutshell, 7m Sumos are unlocked in 2020 by the devs, meaning that they will control 25% of all coins.
The post I'm referencing can be found here: https://www.reddit.com/r/sumokoin/comments/7rb9qz/dear_core_team_can_we_talk_about_the_7million/
I'll also copy and paste it below for reference:
Quote
edit: I've gotten a couple replies saying "email the PR team" or "take it to telegram and away from here" -- aka calls for silence. What's wrong with you guys? Sumo is about transparency. I think we were above blind pumping.
Edit 2: I'd like a rational explanation from the devs for why the vesting schedule is 600k, 900k, 7.2 million. That's 1.5x from year 1-2, and 8x from 2-3. I like the vesting. But it should be a decreasing scale, not increasing. See edit 3 for why.
Edit 3: something else about premines - when done up front, each coin sold by the devs to fund development is sold at a low price per coin. This is the opposite. These coins will be sold at a high price per coin when development is less necessary. Can anyone explain why that method was selected?
I think we need to have a conversion guys.
I'm glad & relieved the team has started an open dialogue about the coins being released this summer (see here: https://medium.com/sumokoin/spring-plan-2018-9d0218c8db40). That's awesome. But I'm more concerned about the 7,200,000 SUMOs that will be released to the team in July 2020. Assuming a price per SUMO in 2020 to be $100/sumo, that's $720,000,000 - almost a billion dollars.
Did you know that? The release schedule of coins to the team is as follows:
July 2018: 600,000 coins
July 2019: 900,000 coins
July 2020: 7,200,000 coins
Community Concern
When those 7,200,000 coins unleash, the core team will hold 25% of all coins in circulation on that date. The expected total number of coins as of blockheight 416581 (the release trigger, estimated July 2020) is approximately ~28.9 million coins. I'll post the code below to calculate. This is the opposite of decentralization and extremely concerning to me. In the best case scenario, SUMO acts like a bank and sells tokens to the public. At the worst, they pocket the billion dollars. I trust the devs but avarice is unpredictable and we have no way of knowing who will be part of the team in 2020.
Re Sumo's approach to pre-mine: When I first heard 10%, I thought they got 10% up front or something to speed the coin up. That's wrong of course. It's 10% of the total coins when all is said and done and they got none up front. That's cool. And 10% of total coins is a fair premine. Total coins = 88,888,888, total to SUMO = 8,888,888.
I didn't realize the 88,888,888 coins would be mined 20 years from genesis aka in 2037. So that "10% of Final" is more accurately described as "25% Pre-Mine 3 years from launch."
This is not the point of premines. Premines are designed to be used up-front to spur development, pay devs, etc. Instead, the community is spurring development and offering to help raise community funds to get onto exchanges. I like the premine with vesting, but this is the wrong execution. We are suffering slow take-off, doing the work that is supposed to be done by the premine that will release in 2020
Fast forward. At this point, I incorrectly thought that they would receive those ~9 million over the life of the coin. Turns out no. While the 10% is calculated on coins mined by 2037, they get those coins 3 years into SUMO's launch.
Pre-Mine Analysis
The point of a premine is to accelerate development. It is not and has never been to line the pockets of developers. And I'm not saying that is what SUMO intends at all -- in fact, I suspect they'd do the opposite. But to my point, a premine as late as 2020, when SUMO coin is either clearly a success or failure, is pointless. At that stage it does just reward the developers. there's no way in hell 700 million dollars of funding are needed at that stage. Can you even imagine what injecting 7 million SUMOs into the market would do? Mass inflationary panic.
In short, I'm glad the devs posted an update because it is the perfect trigger to open a discussion about SUMO's future. And we need to have this convo NOW, while the community is small and nimble, the devs are accessible, and we are NOT on other exchanges. Frankly it just looks bad. And with bigger exposure, it'll get torn apart as a scam coin / fraud.
TLDR
We deserve to be informed what is going to happen with those 7 million coins released in 2020, in a secure decentralized manner, one where SUMO is not suddenly a bank holding nearly a billion dollars in assets, way ahead of time.
Wallet 1:
Address: SumonzyoAnidrp3B6WhbntJLRJsPRD7LiSd2e5HjRV9h6qWj6ia2ihgRXn8ZwmwfQgZ1mL9EkcsBcEL L4h84v1yhMF9opLgjM1j Viewkey: e6e58faa93dba88315f67f53cba9413ebf0f423badb62696aa28ce6c0db2df00 Locked amount: 600,000 -- Until height#: 153600 (July 2018)
Wallet 2:
Address: SumonzyopdC7egt7MWhJcNfR3ktmfWqPNcu3Sb9aejAZ48W4a1ZW95vjXyQDuLLg2gSN8GkP3474R2w Rr1h9ggy2BUHhbrLJJ51 Viewkey: 25ba5fa5abb5f99962754001ff631e01684f9a59871d798a20a1658ba31c950c Locked amount: 900,000 -- Until height#: 285091 (July 2019)
Wallet 3:
Address: SumonzyoK3hCffFQ8djaKZhokmPZsiuEaeLfEtnJfTXVQV3ce3mNHKHQ5kYLPVfNMsS7dhmyHihvhfK U6xXCrmaL4RVDo8eR3gB Viewkey: 1a8c55e52f7f80da3dfd2eadf71a74afb3242c20168ad888b57f483dbc38b00e Locked amount: 1,100,000 -- Until height#: 416581 (July 2020)
Dev Wallet:
Address: Sumoo4aMxWbLgqVazxbiNNFSDyhBEonRf99KmceTEnYUCWUQR2gXF1617P8xQxaMcGi5BAU7juzThST boV6e1gitSjkfjq2zgY2 Viewkey: e12497b6dc6c2cbaf7b311e54b93e4e5f6367acda69a49f9ef20c51d9c689f00 Locked amount: 6,100,000 -- Until height#: 416581 (July 2020)
Edit 2: I'd like a rational explanation from the devs for why the vesting schedule is 600k, 900k, 7.2 million. That's 1.5x from year 1-2, and 8x from 2-3. I like the vesting. But it should be a decreasing scale, not increasing. See edit 3 for why.
Edit 3: something else about premines - when done up front, each coin sold by the devs to fund development is sold at a low price per coin. This is the opposite. These coins will be sold at a high price per coin when development is less necessary. Can anyone explain why that method was selected?
I think we need to have a conversion guys.
I'm glad & relieved the team has started an open dialogue about the coins being released this summer (see here: https://medium.com/sumokoin/spring-plan-2018-9d0218c8db40). That's awesome. But I'm more concerned about the 7,200,000 SUMOs that will be released to the team in July 2020. Assuming a price per SUMO in 2020 to be $100/sumo, that's $720,000,000 - almost a billion dollars.
Did you know that? The release schedule of coins to the team is as follows:
July 2018: 600,000 coins
July 2019: 900,000 coins
July 2020: 7,200,000 coins
Community Concern
When those 7,200,000 coins unleash, the core team will hold 25% of all coins in circulation on that date. The expected total number of coins as of blockheight 416581 (the release trigger, estimated July 2020) is approximately ~28.9 million coins. I'll post the code below to calculate. This is the opposite of decentralization and extremely concerning to me. In the best case scenario, SUMO acts like a bank and sells tokens to the public. At the worst, they pocket the billion dollars. I trust the devs but avarice is unpredictable and we have no way of knowing who will be part of the team in 2020.
Re Sumo's approach to pre-mine: When I first heard 10%, I thought they got 10% up front or something to speed the coin up. That's wrong of course. It's 10% of the total coins when all is said and done and they got none up front. That's cool. And 10% of total coins is a fair premine. Total coins = 88,888,888, total to SUMO = 8,888,888.
I didn't realize the 88,888,888 coins would be mined 20 years from genesis aka in 2037. So that "10% of Final" is more accurately described as "25% Pre-Mine 3 years from launch."
This is not the point of premines. Premines are designed to be used up-front to spur development, pay devs, etc. Instead, the community is spurring development and offering to help raise community funds to get onto exchanges. I like the premine with vesting, but this is the wrong execution. We are suffering slow take-off, doing the work that is supposed to be done by the premine that will release in 2020
Fast forward. At this point, I incorrectly thought that they would receive those ~9 million over the life of the coin. Turns out no. While the 10% is calculated on coins mined by 2037, they get those coins 3 years into SUMO's launch.
Pre-Mine Analysis
The point of a premine is to accelerate development. It is not and has never been to line the pockets of developers. And I'm not saying that is what SUMO intends at all -- in fact, I suspect they'd do the opposite. But to my point, a premine as late as 2020, when SUMO coin is either clearly a success or failure, is pointless. At that stage it does just reward the developers. there's no way in hell 700 million dollars of funding are needed at that stage. Can you even imagine what injecting 7 million SUMOs into the market would do? Mass inflationary panic.
In short, I'm glad the devs posted an update because it is the perfect trigger to open a discussion about SUMO's future. And we need to have this convo NOW, while the community is small and nimble, the devs are accessible, and we are NOT on other exchanges. Frankly it just looks bad. And with bigger exposure, it'll get torn apart as a scam coin / fraud.
TLDR
We deserve to be informed what is going to happen with those 7 million coins released in 2020, in a secure decentralized manner, one where SUMO is not suddenly a bank holding nearly a billion dollars in assets, way ahead of time.
Wallet 1:
Address: SumonzyoAnidrp3B6WhbntJLRJsPRD7LiSd2e5HjRV9h6qWj6ia2ihgRXn8ZwmwfQgZ1mL9EkcsBcEL L4h84v1yhMF9opLgjM1j Viewkey: e6e58faa93dba88315f67f53cba9413ebf0f423badb62696aa28ce6c0db2df00 Locked amount: 600,000 -- Until height#: 153600 (July 2018)
Wallet 2:
Address: SumonzyopdC7egt7MWhJcNfR3ktmfWqPNcu3Sb9aejAZ48W4a1ZW95vjXyQDuLLg2gSN8GkP3474R2w Rr1h9ggy2BUHhbrLJJ51 Viewkey: 25ba5fa5abb5f99962754001ff631e01684f9a59871d798a20a1658ba31c950c Locked amount: 900,000 -- Until height#: 285091 (July 2019)
Wallet 3:
Address: SumonzyoK3hCffFQ8djaKZhokmPZsiuEaeLfEtnJfTXVQV3ce3mNHKHQ5kYLPVfNMsS7dhmyHihvhfK U6xXCrmaL4RVDo8eR3gB Viewkey: 1a8c55e52f7f80da3dfd2eadf71a74afb3242c20168ad888b57f483dbc38b00e Locked amount: 1,100,000 -- Until height#: 416581 (July 2020)
Dev Wallet:
Address: Sumoo4aMxWbLgqVazxbiNNFSDyhBEonRf99KmceTEnYUCWUQR2gXF1617P8xQxaMcGi5BAU7juzThST boV6e1gitSjkfjq2zgY2 Viewkey: e12497b6dc6c2cbaf7b311e54b93e4e5f6367acda69a49f9ef20c51d9c689f00 Locked amount: 6,100,000 -- Until height#: 416581 (July 2020)