May 2016



Reddcoin Weekly Development Update


Welcome again Reddheads to another weekly update of Reddcoin Development.

Now that we have it up and running again, I will be posting this article on the Reddcoin Facebook page also.

So this last week we have really been getting on with the job:.

  • Continuing testing of the wallet for network switching to v4 blocks on testnet
  • Testing of wallet upgrade and downgrade options
  • Translations continue to be submitted to Transiflex
  • Writing up of release notes and other documentation
  • Investigating the performance and behaviour of PoSV

New v2.0 Wallet and testing progress

During this last week, I have continued performing testing on both the switch-over logic from v3 to v4 blocks and wallet upgrade and downgrade processes.

The switchover using Super-Majority logic on testnet is performing very solidly. I have been pushing it with various scenarios by forking the network, and allowing the old fork to continue to propagate, and then bring the new wallets back online (with the majority network weight) to allow the network to find the right fork again.

It is quite exciting (in a geeky sort of way) to see the block chain re-organise the blocks, once the correct chain-tip is determined. This has all been working very well.

Testing the Reddcoin network continues using both the version 1.4.1 wallet and version 2.0.0 wallets.

Getting into the house maintenance with release notes and documentation being brought up to date.

Redd-ID status

The last few weeks I have put the Redd-ID development on hold so that I could focus on getting the major development works completed for the v2 wallet.

The wallet forms the foundation of the future development of most projects, so it is important that it gets completed. That said, I have a fairly good start on Redd-ID done already so it should progress along quite well. And it does give me time to explore some ideas.

Translations

Translations continue to be updated which is great to see. Thank you to all those who are contributing their time and effort.

Notable mentions go to:
@Serkan34 @Syar @ricklopez @hyoung @elcryptotrader @Maxamus @Erkan_Yilmaz @tecopos @xDeadp00lx @clickerz@Kasvain @collab @lionzeye @Ragnarice

@Serkan34 continues to dominate on most of the languages by converting from the original Bitcoin tx to Reddcoin.

This is the running list of desired languages, and if you like you can also check the overall running list on transiflex here.

  • French (100% completed
  • Spanish (100% completed)
  • Dutch (100% completed)
  • German (99% completed)
  • Chinese (99% completed)
  • Turkish (99% completed)
  • Swedish (98% completed)
  • Danish (97% completed)
  • Russian (97% completed)
  • Italian (97% completed)
  • Portuguese (96% completed)
  • Icelandic (88% completed)
  • Romanian (82% completed)
  • Indonesian (81% completed)
  • Hungarian (78% completed)
  • Polish (46% completed)
  • Ukrainian (44% completed)
  • Tagalog (15% completed)
  • Hindi (0% completed)

Performance of PoSV

I have been continuing to look at PoSV metrics this last week. A part of this is putting into a visual display to help visualise the performance over the last 2 years(almost). Current results are quite raw, so more details need to be extracted.

I am currently focussing on a method to extract the number of coins staking at any particular time. You would know that ‘NetworkWeight’ represents the overall difficulty and coins staking on the network, but it is not equivalent to the number of coins. It is actually a little more complex,as the weighting algorithm will skew the results depending on the age.

The results will help me determine some of the foundations for PoSV2.

Getting involved

We are a global community, and cross many borders but boundaries do not need to hinder us.

The crypto currency world has not reached its tipping point yet, but when it does, it is sure to escalate at an amazing rate. There are going to be many ups and downs, and an interesting ride for sure.

If you would like to get involved and dont know where to start, reach out and we will see where you can jump in@Deadpool has a great Trello site going with activities that need looking at.


In Closing

There is still plenty to do, but I feel we are getting close to a public release. I have been holding off announcing a release until I feel confident that the integrity of the network will not be impacted.

I thank you all for your patience and support, it has been a long road, but the journey has been worth it.

So where ever you are, enjoy your week ahead

Keep on staking!

x-posted on (https://www.reddcointalk.org/topic/842/state-of-the-redd-nation-may-30-2016)

Reddcoin Weekly Development Update


Welcome again Reddheads to another weekly update of Reddcoin Development.

This past week has achieved quite a few updates.

  • Testing of the wallet for network switching to v4 blocks on testnet
  • Translations continue to be submitted to Transiflex
  • Further analysis of wallet recovery tools with another large corrupt wallet.dat
  • Further investigating of micro transactions in the last weeks
  • Investigating the performance and behaviour of PoSV

New v2.0 Wallet and testing progress

During this last week, I have been performing testing on the switch-over logic from v3 to v4 blocks on testnet using both the version 1.4.1 wallet and version 2.0.0.0 wallet. Results have been better than expected and I am very happy with the progress so far.

Network Testing with Super-Majority

The recent testing with testnet was performed by setting the super-majority to 510/1000 blocks (51%). That is, when there have been 510 v4 blocks created in the last 1000 blocks, the rules for v4 blocks are enabled (Enforce DER Signatures). v3 blocks will then be rejected by the network.

On mainnet, the setting will be updated to be a Super-Majority 85%

Staking with different versions

Wallet StakingBlock VerAccepted by v1.4.1Accepted by v2.0.0Rejected by v2.0.0
Ver 1.4.1YESv3YESNOYES
Ver 2.0.0YESv4YESYESNO

SOME NOTES: After the switch of Super-Majority completes, version 1.4.1 nodes will continue to stake however, the network will reject those blocks. This is expected behaviour.

Transferring between versions

v1.4.1v2.0.0
v1.4.1YESYES
v2.0.0YESYES

SOME NOTES Current testing of transferring coins between different wallet versions has been successful. Current indications are that if you are not staking, you will be able to continue to use v1.4.1 wallets. More testing to be done.

If you have any questions, or would like to know more on this, please let me know.

Translations

Translations continue to be updated which is great to see. Thank you to all those who are contributing their time and effort.

@Serkan34 continues to dominate on the European languages.

This is the running list of desired languages, and if you like you can also check the overall running list on transiflex here.

  • French (100% completed
  • Spanish (100% completed)
  • Dutch (100% completed)
  • German (99% completed)
  • Chinese (99% completed)
  • Turkish (99% completed)
  • Danish (98% completed)
  • Swedish (98% completed)
  • Russian (97% completed)
  • Portuguese (96% completed)
  • Icelandic (88% completed)
  • Romanian (82% completed)
  • Hungarian (71% completed)
  • Ukrainian (44% completed)
  • Tagalog (15% completed)
  • Hindi (0% completed)

Wallet Recovery

As mentioned last week, wallet recover is no easy task. There are a few tools around on the net that can help, but it is no way guaranteed to provide 100% recovery.

So, it is important that you get in the habit of routinely backing up your wallet.dat file

For the second time in as many weeks, I have used the utility called pywallet that in my case has done a reasonable job to recover broken wallets. It is a python based tool that allows some low level manipulation of wallet files.

In this second case, it involved recovering the private keys from a testnet wallet (100K keys in total). The wallet.dat would load into Reddcoin-Qt, but then the application would sit spinning its wheels, without error, and no way to dump. Running the QT application with -salvage wallet would truncate the number of addresses that should have been available ion the wallet.

So, using the pywallet, I was able to load up read the available privatekeys in the wallet and dump the keys to a text file. This essentially was the same as last week. 100% of the privkeys were salvageable

I still have some problems importing those directly into a new wallet using the pywallet tool, and with such a large number of private keys, manual input was not an option.

I wrote a little script to pull the private keys from a text file and send a importprivatekey RPC command to the wallet. A little slower, but none the less it was effective and successful.

After starting the wallet with -rescan, it brought everything upto date with those associated addresses and their tx’s into the wallet.

Large number of Micro Transactions on mainnet

Over the course of several weeks, there have been a number of instances where a large number of small transactions were broadcast onto the network.

It was brought up in a couple of forum messages on reddit and reddcointalk, so I thought it might be worthwhile just to touch on it again here.

Firstly, I would like to say, this is similar to reports that occurred on Bitcoin network where small transactions were sent to fill blocks. So I was interested to monitor just how such behaviours would occur on Reddcoins Mainnet and what the effects might be.

Reddcoin mainnet has in effect a 10x larger capacity that Bitcoin. The blocksize for Reddcoin is 1M, and the block generation time is targeted every minute (Bitcoin is 1M blocks every 10 minutes).

In the ‘worst’ case the maximum capacity that these transactions took on the network, was to occupy less than 25% of each block (about 230K in total)

With the number of transactions that were occurring, there were at times excesses of transactions that spilled over into subsequent blocks (again, only filling each of those to 25% capacity). When this occurred,e there were runs of up to 10-12 blocks that were filled.

In the current state of the network, where volume of transactions generally is low, it has been a good exercise to monitor the behaviour of sudden peak demand. I didnt hear of nay cases where normal transactions or staking were affected.

Thats is not to say, we are immune,
If the normal operating capacity of a block was 50% or more, this would be more a concern and there could be an impact to the time of confirmation of a transaction.

Suffice to say, the current side effect is, a number of you may have a lot of small transactions sitting in your addresses. I would not be too concerned at this point, and would suggest to let the PoSV staking take care of those in due course (it will take a while to get selected due to the size), or in your next transfer, manually select a few to send them on their way.

Performance of PoSV

One of the things that has interested me for a long time with Reddcoin is how the POS mechanism behaves over time.

PoSV is unique amongst the POS crypto-currencies in the way that the weighting mechanism works, and in the way the stake reward is weighted depending on how long the coins have had to age.

A lot of things can influence the amount for each of your stake rewards,

  • The number of coins held online
  • The number of addresses the coins are spread over
  • the number of network nodes staking
  • the overall network weight(how many total coins are staking)

Working with @deadpool, and @reddibrek, they have been trying to define it is simple to understand terms

But I am also studying the network in much greater detail in relation to a post on the ReddcoinTalk forum regarding PoSV v2.

  • “PoSV 2.0, implements a much needed enhanced version of PoSV inside Reddcoin blockchain that rewards active stakers with interests of the total money supply. For example, if only 50% of the Reddcoin are staked, those Reddcoins will generate 2x interests, i.e. 10-12%. This will be implemented in the full-node Qt wallet first.” {laudney}

This was the original statement made about 1 year ago, and I believe there is merit in re-visiting this PoSV v2 proposal. It provides and extra incentive to everyone who continues to stake, and in doing so get a bigger percentage of return.

So in my spare time I have been extracting information about the current network, the blockchain and the metrics of how it is functioning, what returns stakers currently get and whether this remains a viable option.

Getting involved

We are a global community, and cross many borders but boundaries do not need to hinder us.

The crypto currency world has not reached its tipping point yet, but when it does, it is sure to escalate at an amazing rate. There are going to be many ups and downs, and an interesting ride for sure.

If you would like to get involved and dont know where to start, reach out and we will see where you can jump in@Deadpool has a great Trello site going with activities that need looking at.


In Closing

There is still plenty to do, but we are getting closer and I look forward to another productive week.

So where ever you are, enjoy your week ahead

Keep on staking!

 

x-posted (https://www.reddcointalk.org/topic/839/state-of-the-redd-nation-may-23-2016)

Reddcoin Weekly Development Update


Welcome again Reddheads to another weekly update of Reddcoin Development.

This last week has been quite a productive and busy one.

  • There have been a few more updates to the new wallet
  • Translations have been coming a long quite well with more people contributing
  • I sent a far bit of time working on wallet recovery tools after a fat wallet got hosed
  • Investigating a bit of a surge in super micro transactions in the last weeks
  • Looking at some of the trading volumes on different exchanges in the last week

New v2.0 Wallet progress

This last week I have been getting some amazing feedback on the operation of the new wallet.

While I think it is close, there is always the fine tuning so that the average user has a good experience.
Some of the things that have been ticked off the list include:

  • converting some of the remaining RPC and console messages to be Reddcoin specific
  • Pause Staking while the blockchain is syncing
  • redirect some remaining printf debug messages from console to debug.log

I have also performed a pull of the recent translations into a separate git branch for testing, and this was successful.

Before final release, a couple of things still need to tested in regards to block versions as this wallet will bring the block version up to v4 (DER signatures). So we need to make sure everything is operating 100%

Testnet is running with a mixture of wallet versions that will be tested against

If you have any questions on this, please let me know.

Translations

There has been some great input to the translation this last week. Thank you to all those who are contributing their time and effort.

Dutch was just completed to 100%, thank to @elcryptotrader

Some of the other notable mentions are that @Serkan34 has completed a majority of the following languages

  • Turkish
  • Danish
  • Swedish
  • Hungarian

All the while, there are others also contributing or offered to contribute.

This is the running list of desired languages, and if you like you can also check the overall running list on transiflex here.

  • French (100% completed
  • Dutch (100% completed)
  • Chinese (99% completed)
  • Russian (97% completed)
  • Turkish (96% completed)
  • Danish (92% completed)
  • Swedish (91% completed)
  • Romanian (82% completed)
  • Hungarian (71% completed)
  • Portuguese (56% completed)
  • Ukrainian (44% completed)
  • German (42% completed)
  • Spanish (40% completed)
  • Tagalog (7% completed)
  • Hindi (0% completed)

Wallet Recovery

There are not too many free services to recover wallets when they become inaccessible (and it happens)

I have used over time a utility called pywallet that does a reasonable job.

My latest testing with it was to recover a wallet with about 200,000 addresses and about 4Billion testnet coins

Using the tool I was able to extract most of those private keys

Importing those keys back into a wallet has been a little more troublesome. Normally, you would take an empty wallet and just run the import routine, but alas, it does not take them all (more troubleshooting to follow)

The way around this has been to use reddcoin-cli importprivkey (coming in v2.0, but available as a RPC call in v1.4.1) with a batch script. The script reads the privkeys from a file, and sends the importprivkey command to the wallet.

With 200K files, it is a little slow, but seems effective as a last resort option.

At the completion of the import, all that is left to do is restart the wallet with -rescan to bring in all the historic transactions.

Suffice to say, PLEASE make sure you keep good backups of you wallet.dat file. With that it is a relative painless operation to get going again. If your wallet does become corrupt, there is no guarantee to get the contents of your wallet back.

Chinese Exchanges

Since Gobiw introduced Reddcoin on the 30 April, I have checked in from time to time to see the progress of this exchange.

A quick comparison of the trading volume across Poloniex, Bittrex and Gobiw this last week.

DatePOLOBITTREXGOBIW
14 May20MM21MM22MM
13 May44MM16MM59MM
12 May31MM08MM115MM
11 May51MM14MM39MM
10 May70MM17MM234MM
09 May70MM24MM194MM
08 May102MM26MM309MM
total388MM126MM972MM

What is interesting is Gobiw had nearly 2 times the volume of trade this week compared to Poloniex and Bittrex combined.

It is early days in this market and Gobiw is leading the way, in the coming months I am look forward to a stronger Chinese interest.

Getting involved

We are a global community, and cross many borders but boundaries do not need to hinder us.

The crypto currency world has not reached its tipping point yet, but when it does, it is sure to escalate at an amazing rate. There are going to be many ups and downs, and an interesting ride for sure.

If you would like to get involved and dont know where to start, reach out and we will see where you can jump in@Deadpool has a great Trello site going with activities that need looking at.


In Closing

I am looking forward to another productive week. With much to do, there is little time to delay.

So where ever you are, enjoy your week ahead

Keep on staking!

 

x-posted https://www.reddcointalk.org/topic/838/state-of-the-redd-nation-may-16-2016

Reddcoin Weekly Development Update


Welcome again Reddheads to another weekly update of Reddcoin Development.

It is good to be back on track with development.

So this last week, I have spent quite a bit of time looking at how to bring over previously translated files of Bitcoin to Reddcoin. In this way hopefully saving everyone a lot of time and reducing duplication.

Also on my agenda this last, was handling the switch-over to v4 blocks.

We are getting into the final stages for this wallet released

Going into this week, I am starting to compile contact details for the various exchanges and utilities using Reddcoin wallets.

Translations

As I address various parts of the v2 build, translations are now at the front of my activities. I would like to get a significant amount of this complete before the first public release of the wallet is made. The devs for Bitcoin v0.9 had completed about 22 different languages at 100% complete and various others at less levels of completion

As you could imagine, this would be of great advantage to Reddcoin

So as a part of my work this week, I managed to take the Chinese translation from 50% to 98% complete. And most of this was done by transposing the Bitcoin translations to Reddcoin. This was a somewhat slow process as I completed it by hand (with the help of gedit, transiflex, and QT Linguist). Hopefully I can script some of this to make it a little bit less tedious.

If I have any Chinese readers, I would like your opinion on placing the translation of Reddcoin into the wallet. Currently translation being used on local Chinese Exchanges for Reddcoin is 瑞迪币 (English Translation: Reddy credits). For us english speakers, Bitcoin translates 比特币

Reddcoin does have some specific differences in the language files to do with the customisations specific to our wallet and functions around staking.

Again, I would like to show support the countries who have the most nodes currently online:

  • French (100% completed
  • Chinese (99% completed)
  • Russian (84% completed)
  • Romanian (82% completed)
  • Dutch (82% completed)
  • Portuguese (56% completed)
  • Ukrainian (44% completed)
  • German (42% completed)
  • Spanish (40% completed)
  • Tagalog (7% completed)
  • Hindi (0% completed)

My focus will be on completing these first for the release.

Chinese Exchanges

Trading on the new exchanges Gobiw and BTC023 has been progressing along, although the trading volume in not in the league of Poloniex or Bittrex. I am looking forward in the coming weeks that we can see the trade volume increase as Chinese traders find these new sources.

I am in contact with both the exchange teams and there have been no reported issues since trading was enabled.

During this last week, I spent some time researching Reddcoin in the Chinese market, and the results were interesting. I was surprised to see that on one of the larger Chinese exchanges BTC38 have a page dedicated to Reddcoin. The information is outdated, but at least relevant

In order to get listed on BTC38, we are currently sitting at number 24 on the list and have quite a bit of effort to achieve the result.

Wallet

We are getting close for a public release.

A couple of things still need to tested in regards to block versions as this wallet will bring the block version up to v4 (DER signatures). So we need to make sure everything is operating 100%

Testnet is running with a mixture of wallet versions that will be tested against

The switch over logic will use the same supermajority logic as in Bitcoin v0.9. We will be considering that once 85% of the blocks staked are v4, then the switch will be made to reject earlier blocks.

I have been operating a couple of nodes now with the new wallet on mainnet, and everything is operating as it should.

If you have any questions on this, please let me know.

Getting involved

We are a global community, and cross many borders but boundaries do not need to hinder us.

The crypto currency world has not reached its tipping point yet, but when it does, it is sure to escalate at an amazing rate. There are going to be many ups and downs, and an interesting ride for sure.

If you would like to get involved and dont know where to start, reach out and we will see where you can jump in@Deadpool has a great Trello site going with activities that need looking at.


In Closing

There is still plenty to do with the final stages of releasing the wallet. Most of it is now mundane release notes and documentation. The tedious but none the less important component paired with the technical side. And reaching out to as many contacts as possible so that they can prepare wallet upgraded

So where ever you are, enjoy your week ahead

Keep on Staking!

 

x-posted on (https://www.reddcointalk.org/topic/835/state-of-the-redd-nation-may-9-2016)

Reddcoin Weekly Development Update


Welcome again Reddheads to another weekly update of Reddcoin Development.

My apologies for missing last few weeks development update. I have had an urgent project that required my attention and travel to Vietnam over the last weeks. Suffice to say, most of my attention needed to be focussed on completing that activity. The unfortunate side effect is that some of the previous planned activities I had for Reddcoin have now slipped to this week.

The positive side is, these side projects do help pay for development time.

The highlight of last few weeks would have to be the addition of Reddcoin onto two Chinese exchanges. This was fantastic news, and I thank the 2 teams involved from those exchanges for being able create a successful launch to each of their user bases.

The Chinese users have in themselves contributed a significant amount of traffic to Crypto in general and have strong user bases. I look forward to being able to help them promote Reddcoin in their region.

Also in the last weeks, I continue to get offers for helping with translations which I am truly grateful for. I think this shows that we have strong ongoing support of the international community.

Chinese Exchanges

The big news of the week was the inclusion by 2 Chinese exchanges of Reddcoin into their trading platform. This news had kind of crept up on me and I only found out in the weeks before launch. Suffice to say, I am available for any such engagements when integration is required. Dont be afraid to ask. I am also available on QQ (2766851549) for those using that platform

Gobiw and BTC023 are relatively new onto the crypto exchange scene in China but both have taken steps over recent weeks to include Reddcoin paired with the local Yuan (CNY). These exchanges are modest in size, but none the less I look forward with working with the operators to help promote Reddcoin the “Social currency” for the benefit of users in China.

A special thanks to @huige007 for reaching out to the btc023 operators for me.

I am not sure of how many Chinese users we have, but I would be interested in discussions and opinions on improvements (the wallet definitely needs an updated translation).

Translations

I continue to be heartened by the increase in offering to do translations for the wallet. It is no easy task to allocate time to go through and identify what needs to be updated and to also put it into a context that is acceptable. One of the interesting side effects is the discussions that arise on how to promote Reddcoin in the geographic areas where those languages come from.

I lot of my decision making on selecting languages to update was done purely on the statistics of what countries are contributing most nodes.

With the browser wallet, when it comes time, it will also need to be translated to help promote into those regions.

A special thanks to @serkan34 for taking on the Turkish translation

PoSV Staking

One of the things I enjoy putting together and analysing are performance metrics. It is actually what originally got me involved in more of the core activities.

One of those things I have always wondered about was how many Reddcoin are staking at any particular point in time. Certainly as I view the metrics of network weight on the QT wallet and how many nodes are active on the network. It makes for understanding the overall health of the network.

Tipbots

We seem to be getting a lot more traffic towards the twitter and reddit tipbots. This last week, I have upgraded the VPS to the next higher level to help meet demand.

Getting involved

We are a global community, and cross many borders but boundaries do not need to hinder us.

The crypto currency world has not reached its tipping point yet, but when it does, it is sure to escalate at an amazing rate. There are going to be many ups and downs, and an interesting ride for sure.

If you would like to get involved and dont know where to start, reach out and we will see where you can jump in@Deadpool has a great Trello site going with activities that need looking at.


In Closing

The last few weeks were full of interruptions with RL, but I have tried to maintain some focus and not ‘totally disappear’ during the time. The coming weeks for me seem clear for coding.

So where ever you are, enjoy your week ahead

Keep on staking!

John (Gnasher)