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
    • X11 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

    Darkcoin Innovations:

    • 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.
        With 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:
        Every 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.
        Depending on 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.
        At 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
      • In addition to traditional Proof of Work rewards for mining Darkcoins, users are also rewarded for running and maintaining special servers called “Masternodes”.
        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.
        In 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
      • X11 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.
        With 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 scrypt.
    • Dark Gravity Wave
      • Dark 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”)
      • In 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.
        We 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)
      • This 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 twenty seconds.

        Full paper can be read at the link below: