We are investingating issues in the backend. Your shares and hashrate are safe and we will fix things ASAP. Findblocks disabled, new blocks will currently not show up in the frontend Blockupdate disabled, blocks and transactions confirmations are delayed Payouts disabled, you will not receive any coins to your offline wallet for the time being
[DRK] @ Hashlink.EU
posted 12/31/2014 14:33:08 by ironman
- Release date: 11PM EST, 18th January 2014 / No premine
hashing algorithm: 11 rounds of scientific hashing functions (blake,
bmw, groestl, jh, keccak, skein, luffa, cubehash, shavite, simd, echo)
- Block reward is controlled by: 2222222/(((Difficulty+2600)/9)^2)
- CPU/GPU mining
- Block generation: 2.5 minutes
- Difficulty Retargets using Dark Gravity Wave
- 7% decrease in the number of coins generated per year
- Est. ~22M Max Coins
- Decentralized Masternode Network
- Superior Transaction Anonymity using Darksend
- Darksend (coming late July/early August, 2014)
- Darksend has made some significant advances, and we’re happy to say that we’re closing in on a finished product.
the introduction of Release Candidate 4 (RC4), the Darkcoin client will
store pre-mixed, denominated Darkcoins in the user’s wallet, to be used
instantly at any time the user desires. The mixing and denomination
process is seamless, automatic, and requires no intervention on the part
of the user. The 10 DRK limit in place with Darksend v1 will be
permanently removed. With RC4, the amount that users can send via
Darksend is limited only by the available balance in their wallet.
Here's how it works:
10 blocks, user clients network-wide will send any unmixed, traceable
Darkcoins in their possession through an anonymization phase. In this
phase, Masternodes are used in chained succession to mix the coins they
receive from the network and break them down into homogenous
denominations. After being processed by a minimum of 2 Masternodes, the
coins are either sent to the next Masternode in the chain or back to the
user’s wallet at randomly generated change addresses.
the desired depth of security and privacy, users may select between 2
and 8 “hops” to successive Masternodes before their coins are sent back
to the client. Hops are made every 10 blocks, so anonymization at a
depth of 2 hops will take 22.5=5.0 minutes, 3 hops 32.5=7.5 minutes,
and so on. The desired mixing depth can be selected in the client GUI.
the end of the anonymization phase, the user’s coins are returned to
their client at randomly generated change addresses. When the user
wishes to make a transaction, the client forwards the intended amount
from these anonymous change addresses directly to the intended
receiver’s address. There is no direct involvement of of Masternodes in
the final person-to-person transaction.
Proof of payment will work as
it always has: a user can see the send transaction with the receiver’s
address in their own wallet, and the blockchain will show that the
receiver’s address received an input in the corresponding amount.
A breakdown of the improved Darksend process:
(Official statement link: http://goo.gl/GZ1VZC)
- Masternodes and the Proof of Service Reward Paradigm
addition to traditional Proof of Work rewards for mining Darkcoins,
users are also rewarded for running and maintaining special servers
Though future plans envision several roles for
Masternodes, their primary function is to carry out the anonymization
phase of the Darksend protocol. The service that Masternodes provide to
the network is the beating heart of Darksend, which, in turn, is the
defining feature of Darkcoin.
In return for providing this service,
with each block mined, one Masternode is randomly selected by the
network to receive 20% of the payout from that particular block.
order to run a Masternode, users must put up 1000 DRK as something akin
to collateral, though unlike traditional collateral, the DRK never
leaves the user’s possession. It can be moved or spent at any time by
the user - doing so simply removes the Masternode from service and makes
it ineligible to receive rewards.
- X11 Chained Hashing Algorithm
is a widely used hashing algorithm created by Darkcoin core developer
Evan Duffield. X11’s chained hashing algorithm approach utilizes a
sequence of eleven scientific hashing algorithms for the proof-of-work.
This is so that the processing distribution is fair and coins will be
distributed in much the same way Bitcoins were originally. ASICs will be
much more difficult to make for these algorithms and should take years.
chained hashing, high end CPUs give an average return similar to that
of GPUs. An added benefit of the algorithm is that GPUs require
approximately 30% less wattage and run 30-50% cooler than they do with
- Dark Gravity Wave
Gravity Wave (DGW) is a widely used mining difficulty adjustment
algorithm created by Darkcoin core developer Evan Duffield to address
flaws in Kimoto’s Gravity Well.
- Multi-Phased Fork Implementation (aka the “Spork”)
response to unforeseen issues with the rollout of RC3, the Darkcoin
development team created a mechanism by which updated code is released
to the network, but not immediately made active (or “enforced”).
Communication is sent out to users informing them of the change and the
need for them to update their clients. Those who update their clients
run the new code, but in the event of errors occurring with that new
code, the client’s blocks are not rejected by the network and unintended
forks are avoided. Data about the error can then be collected and
forwarded to the development team.
Once the development team is
satisfied with the new code’s stability in the mainnet environment - and
once acceptable network consensus is attained - enforcement of the
updated code can be activated remotely. Should problems arise, the code
can be deactivated in the same manner, without the need for a
network-wide rollback or client update.
This innovation allows for
far smoother transitions than in the traditional hard fork paradigm, as
well as the collection of test data in the live network environment.
set out with the intention of calling this method of updating the “Soft
Fork”, but the Darkcoin community quickly dubbed it the “Spork” and the
name seems to have stuck.
- Instant Transaction Technology (aka InstantX)
paper introduces a new concept called transaction locking and
masternode consensus. This technology will allow for crypto-currencies
such as Darkcoin to compete with nearly instantaneous transaction
systems such as credit cards for point-of-sale situations while not
relying on a centralized authority. If successful, such an idea could
revolutionize cryptocurrency, by shortening the delay in confirmation of
transactions from as long as an hour (with Bitcoin) to as little as
Full paper can be read at the link below: