January 2015

Dear fellow Reddheads:

We are happy to announce that Reddcoin social wallet is now open source under GNU Licence v2. It’s a cross-platform desktop application written in Javascript, based on nodewebkit and AngularJS frameworks. Although it has some compatibility issues under Mac OS X and some other outstanding issues, it’s an excellent attempt at improving the Qt wallet with a better GUI and social functionalities.

We welcome Reddheads to help improve it and add more desirable features. Happy hacking!



Dear fellow Reddheads:

I’ve committed the fix that makes staking stuck when certain blocks with abnormal timestamps are accepted and made a new release v.

This is not a fork of any kind, just a routine fix. I urge everyone to upgrade ASAP, especially stakers.

I’m only able to release the binary for Mac OS X at the moment. If you are using Linux, you should be able to compile the binaries yourself. I’ll release the binary for Windows tomorrow night.

I’ll explain the bug later tonight. Many thanks to everyone for the patience and help (especially to @Gnasher) during the last few days.



Sorry guys. I’m on a business trip so only saw this last night. I’d like to clarify some technical details.

First, it’s incorrect to say the Reddcoin network is down. The network works as it should: nodes relay block and transaction information to each other and most importantly all the nodes on the network agree on one single longest chain, which is the cornerstone of our decentralised network. There is no magic switch to turn our decentralised network off or on. Being a truly decentralised crypto-currency is what Reddcoin Project is all about.

Second, minting a block is an action carried out by each staking node (staker) independently. All the information required to create a coinstake transaction and its corresponding PoSV block is available locally after being relayed on the network. When hundreds or thousands of stakers compete to mint the next block, there is no coordination required among them. Not only no coordination, it’s actually a fierce competition in nature.

So what could be causes? I can think of three potential reasons:

  • A software bug that exists in all Qt wallets that prevent all clients from successfully finding a PoSV block. I’ve looked through debug.log file and seen nothing suspicious.
  • Some major stakers went temporarily offline. If this is the case, block difficulty will drop gradually and it is indeed.
  • Pure bad luck. Block interval follows geometric distribution. PoSV has been working with zero problem for 5 months now, producing over 200K blocks since inception. It’s statistically quite possible that we see a fat tail by now, even one that looks very unusual.
  • A combination of some of the above.

I’m keeping an eye on this and will investigate more when I’m back next week. But one thing is indisputable: we always need more stakers! I’m finalising the technical details of PoSV 2.0 which will distribute the interests given up by inactive wallets to active stakers. I’ll write up a design document and start a discussion in the next couple of weeks. It’ll be part of our Social X release.


Dear fellow Reddheads:

A crucial piece of Social X is a decentralised system that allows storage and verification of public proofs of a person’s social network identities. For example, to send Reddcoin to a person on Youtube, we need to first verify that the Youtube user (represented by a username) is the actual owner of a private key that corresponds to a public key which is the receiving Reddcoin wallet address (e.g. address of her tip jar in the browser wallet).

It’s a very exciting technical project that I’m working on. And before it’s ready, I think it’s important that members of the community are at least familiar with the related concepts.

Keybase.io is the state-of-the-art at the moment and it’s in closed alpha. I have 5 invitations that I’d like to send to active community members. Once they set up their accounts properly, each of them should have 10 new invitations to send to others. It can then snowball from there.

You can find my Keybase profile here. For those of you who are interested in the invitation, please post your emails below.


EDIT: Keybase works on all platforms but it’s highly technical at the moment. So at this stage it makes more sense for you try it out if you are tech-savvy.