State of the Network

The network is still going strong without a single report of chain split for almost two months now. There has been a slight drop in difficulty over the last few week. Now is the time to spin up the old rigs and grab some easy MCM !

Development

A new version of the Mojo wallet has been published. A long list of new features and bug fixes have been packed into this release: automatic archival of spent addresses, simple overview of accounts, lookup and recovery of tag from unused addresses, reduced network load, etc.

The development of the mobile wallet has reached a new milestone with the implementation of the Winternitz One-Time Signature+ and Networking modules. The next phase of the development will focus on connecting the low level operations to the UI.

A new feature has been added to the API which allows users to retrieve the historical transactions pertaining to a tag.
Exchanges

Mochimo has been listed on CoinMarketCap ! This is a big step toward the recognition of Mochimo in the crypto space.

Mochimo is now listed on VinDAX exchange with ETH and BTC pairs !

Citex organized a Net-Buy competition with a prize pool of 4000 MCM. The event will be running until January 31.

Our AMA has been uploaded to our you tube channel, make sure to check it out and subscribe!

https://www.youtube.com/watch?v=MuZI4wan8bU&t=274s

Windows Miner 1.6-beta3 now available. Now shows per GPU temperature, power use, and haikurates in the GUI, as well as application uptime.


https://github.com/mochimodev/winminer/releases/tag/v1.6-beta3

Please update your wallets to 2.4, links have been updated.   

The new Mojo wallet has a new design and a lot of new features. Make sure to make the switch since the old 2.3 wallet wont work after the trigger block for 2.4.

With this code we have a return to GPU-only mining, as well as the addition of multi-destination transactions.  Our codebase has undergone around 160 separate commits since the v2.3 release. including security fixes, bug fixes, improvements to the network protocol and stability, as well as hundreds of minor fixes to improve/standardize the C code base.  Finally, we have the addition of the Peach algorithm, which replaces the original Trigg's algorithm. This is a custom FPGA-tough algorithm that is optimized for GPUs and removes the FPGA advantage entirely

To clarify:

1. We are very scalable, as was mentioned above we use a ChainCrunch Technology to condense the blockchain and account tags to make it user friendly. Read our white paper, you will see what we mean

2. We are not hiring beta testers. We are currently in open beta phase and we invite everyone to join! Mainnet will be released on June 30th   

You are invited to take a look through out Github and review the algo. Everything is built from scratch by us. Additionally, feel free to join our clack channel the dev team is around most of the time and is very responsive.

You can join our slack channel. All the material is there!

We are sorry that you feel this way however, for now, we are sticking to the BTC Airdrop.

---------------------------------------------------------------------------------------- OFFICIAL UPDATE ----------------------------------------------------------------------------------------


The Mochimo Testnet went live for the first time on Saturday 5/12 at 5 p.m. EST. The Testnet was live for for a few hours and was taken down overnight to make a few updates.
On Sunday 5/13 Testnet went live again and at 5 p.m. EST and the first block of Mochimo was mined shortly after by an individual outside of the Dev Team!! On block 50 we took the network down again to make additional adjustments and the Testnet we will be up again shortly.

For real-time updates, guidance on becoming a beta miner, open bounties, and other shenaniganz please join our slack channel.

Additionally, our re-branded website is live, please visit us at www.mochimo.org.

Dev Team

Launch got pushed to June 30th. We are patenting significant parts of our technology which is taking longer than expected. For more details please join our slack channel.

Thanks for asking.  We have a slack channel.  Here is an invite link:

https://join.slack.com/t/mochimo/shared_invite/enQtMzA4NDc3NDU3MzY2LTUwOGExMmM1YWFmMzhiYzdmOWQ5MzcxYzE1MmM3YTA5ZGVlNzZjMGJkZTc1YjM3NGQ3MTVlNWMxYzhiYWQ4NDg

This is the best place to ask questions about the project.

Thank you!

Well.  Check out our reasoning, and tell us what you think:  Mochimo is taking a long-game approach to being a replacement for all these quantum-vulnerable cryptocurrencies, like $BTC.  The thought process behind releasing $MCM 1:1 to holders of the flagship currency in the ecosystem ($BTC) is to carry all of the most active players in the space into $MCM, thereby incentivizing participation in our currency.  Now to answer your question regarding distribution:

There are something like 16.8 Million Bitcoins in circulation with a total cap of 21 Million.  With Mochimo $MCM we have 2^56/10^9 coins =  72,057,594 $MCM, what that means is that yes - existing $BTC whales and long term HODLers of $BTC will get a significant stake.  However, the remaining coins (after the ~4 Million $MCM premine) with still be mineable, and that's roughly 51.2 Million coins.

Now, as of Friday, the team has finalized our selection of mining algorithms.  We had three finalists, a) typical HASH256, which is a sha-in-sha a la Bitcoin, b) Cryptonight, c) Trigg's Algorithm.  There was a discussion, to describe it politely.  It lasted four hours, and we came to a final consensus.  Of the arguments on offer, the thing that really closed the deal for the people on the HAS256 and Cryptonight contingents (I was one of them), was that Trigg's algorithm is a brand new, level playing field that is ASIC-resistant.

We concluded, in summary, that we are already rewarding the existing crypto community sufficiently with the 1:1 BTC:MCM distribution, and that newcomers should be able to mine at home using Trigg's Algorithm, thus making it possible for our engaged early-adopters to accumulate large amounts of coins early with commodity hardware (home PCs, etc).

All of that said, the Mochimo Dev team is doing everything possible to take the long view on this coin and its development.  We welcome your input and feedback on these ideas.  Please feel free to find out slack page and jump into the discussions.  It is linked on our website.

One of the things that has been missing from the crypto world is a project built with the intention of providing a reference architecture to the community at large, and a codebase that is carefully documented so as to be easily understood.  Our cryptocurrency literally has a manual. 

Now, an important distinction: The Mochimo Project has produced a cryptocurrency engine.  Our flagship proof-of-concept transaction network & currency is $MCM.  The source code for the engine is available with a "compile-only" EULA, meaning the end-user is only allowed to compile and run it, not modify it or clone it.  Everything else is open-source w/attribution under the MIT license, including the miner, wallet software, blockchain explorer, etc.

What this means is, if a person or organization wants to create a clone of the Mochimo currency (for example for the purposes of extending it or adding something new to it), two things are true:

1) It will be super easy, because it is a very well-documented code-base designed to be understood and modified by future generations.
2) They will have to pay the Mochimo Steering Committee a licensing fee for the privilege.

Do we think everyone will respect our license requirements?  Let's just say the 800K premine of $MCM that is allocated to the Mochimo Steering Committee is expected to go to legal fees for those who don't want to respect our intellectual property.

As for your last question about pools:  This really comes down to how quickly we can deliver on our other targets.  It is not a pre-launch priority, just a nice-to-have.

Things have changed quite a bit in this space, but I agree pre-mines have gotten larger over time.  With coins and tokens unabashedly retaining 25-50% of their coins to sell under ICO these days, we view the premine as relatively small. 

The thing I'd like to add here is: Mochimo is a completely new architecture, and has been coded from a blank page.  We're not cutting and pasting or re purposing other people's code like 99%+ of the players in the crypto space.  It's all brand new and it is a LOT of work.  It is also one of the best-documented codebases in the space, and has been designed from day one with the intention of being easy to understand/modify to allow future generations to improve on it.

That being said, we have several very accomplished engineers on this team (I am, myself, a CCIE and expert network security engineer and I haven't taken a contract since August).  Many of us work on it more than full-time.  Our lead C developer logs 60 hour weeks and forgets to eat.

We're all in on this, so I hope that people will allow us the 4.44% premine we've set aside for the developers.

Hi Niknik,

The basic premise of our coin and transaction network, aside from the fact that we've added a number of innovations to blockchain and distributed ledgers in general, is that it addresses the threat posed by quantum computers to the existing cryptocurrency ecosystem.

To summarize that threat, with protocols like Bitcoin, the user address/private key pair is actually just a public/private key generated by ECDSA, a cryptographic signature algorithm that is secured by the computational intractability of factoring extremely large polynomials in order to find their prime roots.  That sort of math problem would take a conventional super computer something like the lifetime of the universe to sort out.

However, it is exactly the sort of mathematical problem that quantum computers are designed to solve easily, and so they will eventually (in a few years or less) be able to crack ECDSA.  As a consequence everyone's public/private keypairs will be wide open, and protocols like Bitcoin will be broken / worthless.

Some forward-looking people have been working in the area of "Post-Quantum Cryptography", notably the working group PQCRYPTO, funded by a commission of the European Union.  They have identified several post-quantum algorithms that operate under difference principles from things like DSA/ECDSA, and so will not be any easier to crack once we have quantum super computers around blowing everything up.

If it from the recommendations of that working group, that the Mochimo Dev Team has selected its quantum-proof algorithms.  We have designed our currency around that.  When Bitcoin and its many cousins have fallen to the quantum computer revolution: Mochimo will be doing just fine.

Please contact support@mochimo.org if you are interested in working to improve Mochimo's social media footprint.

Hey thanks for asking.  We will be doing both, eventually.  With Trigg's Algorithm, the gains from using a GPU will be limited compared to a CPU.

To directly address you concern:  We do not intend to do an ICO.  If there is an ICO, there will not be a pre-mine for the Dev Team.

The consensus among the Dev Team right now is that ICOs have become increasingly associated with speculation and out-right scams. That being said, if we stick with the current "no-ICO" plan (and I see no reason why we would deviate), the total pre-mine for this coin is 5.55%, of which 1.11% is held in long-term escrow for future development.  So only 4.44% going to Dev Team compensation.

5.55% is on the very low end for pre-mines.

Please contact support@mochimo.org if you would like to do translation for this project.

The PoW algorithm in the current version of the Mochimo Project is called "Trigg's Algorithm", which is a custom PoW algorithm that is designed to make ASIC/FPGU use infeasible.  We are having internal discussions about its efficacy in that regard.  It is performing as expected in our alpha mining test.  Detailed information about the mining algorithm will be available in the upcoming whitepaper release.  Please follow the twitter feed or join the slack channel to receive updates.  Thank you.