Spreadcoin

Spreadcoin is far from dead and we're not grieving. Spreadcoin's future is pretty simple. The dev claims he is creating an improved masternode system that will not require reference nodes and will not fork if enforcement is off. If he does that, we're golden. If he doesn't, then the coin will likely be DOA. In my opinion, the whole no pools aspect doesn't matter. The market determined that the value of no pools was around $150,000 in marketcap which is not interesting to me.

If Spreadcoin ends up with a superior masternode implementation to Darkcoin, things get interesting. If not, it'll join the growing altcoin graveyard. Regardless, I own plenty of DRK and SPR though so it doesn't really matter to me who gets it right first.
 
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bituzer said:
yes I also thought so. If the pool cant make it technically happen that reward gets shared, they can just use a security deposit (deposit 6 spr allows mining in pool).

So I like the idea of SPR, but their basic approach seems so weak. I am curious what the answer to the nonce-pool will be
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Exactly. You could even think about a pool, using collateral, e.g. before the pool accept your mining shares, you have to deposit x coins into your account. If you found a block, this deposit is used to pay all pool members shares. Rinse and repeat.

Or let the pool members mine into a multisig address, which only the pool can pay out.
 
flare said:
Exactly. You could even think about a pool, using collateral, e.g. before the pool accept your mining shares, you have to deposit x coins into your account. If you found a block, this deposit is used to pay all pool members shares. Rinse and repeat.

Or let the pool members mine into a multisig address, which only the pool can pay out.
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I posted that twice and the comeback was "what if they mine 2 blocks and steal, you would need them to deposit 600 spr for the coins to mature"
My answer was they they can doublespend. lol
 
Either way, SPR just doesn't seem to meet the pool-less decentralized expectations that it has set for itself. I know the pie chart that shows top 20 miners looks a lot healthier than Darkcoin's but it won't stay that way if SPR becomes more profitable to mine. The main two reasons I haven't bought into SPR (well, I did have some but sold) is that the dev is anon and that so far it is turning out to be anything but pool-less and decentralized and that was obviously going to be the case from the beginning. The model doesn't, imho, work.

The interesting thing is how Mr Spread is going to deal with masternodes and I suppose we find that out when Testnet is fired up today.
 
stonehedge said:
The interesting thing is how Mr Spread is going to deal with masternodes and I suppose we find that out when Testnet is fired up today.
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What i got so far is that he is storing the masternode votes in the blockchain - something Darkcoin has done 8 month ago and led to the RC3 fork, as the votes are not deterministic and two blocks can be solved at almost the same time.

https://darkcointalk.org/threads/6-20-rc3-post-mortem.1463/

Curious how he will solve this problem, which haunted Evan for weeks and finally was solved by not storing the votes in the chain.

Code: 
In SpreadCoin all votes for masternodes will be stored in blocks and the payee will be uniquely determined from previous blocks. Just like you can check that any transaction included in the block is correct by comparing its inputs with outputs in previous blocks you will be able to check that masternode payment is correct by checking previous blocks.
 
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To prevent there being a permanent record of the masternode network at any given moment in time?
 
flare said:
What i got so far is that he is storing the masternode votes in the blockchain - something Darkcoin has done 8 month ago and led to the RC3 fork, as the votes are not deterministic and two blocks can be solved at almost the same time.

https://darkcointalk.org/threads/6-20-rc3-post-mortem.1463/

Curious how he will solve this problem, which haunted Evan for weeks and finally was solved by not storing the votes in the chain.

Code: 
In SpreadCoin all votes for masternodes will be stored in blocks and the payee will be uniquely determined from previous blocks. Just like you can check that any transaction included in the block is correct by comparing its inputs with outputs in previous blocks you will be able to check that masternode payment is correct by checking previous blocks.
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Maybe he will make the votes deterministic.
 
Yes, its for real. People have been talking about it in private chat for months. Its not such a big deal. It doesn't really affect the decentralization model for SPR much. Other things will happen which cause a bigger risk to decentralization than people clubbing together with pools imho.
 
Moli, at present, any miner could steal all the coins from a pool. Some people have proposed workarounds which may or may not work (I suspect if someone put enough effort into it, that they could create a workaround). I personally didn't invest in SPR because of no pools, in fact, I think it's a bit of a hindrance to adoption. As the market determined no pools was worth about 150k is marketcap, I wasn't the only person not excited. I personally invested in the coin because the dev is competent. The question is whether he is competent enough to produce an improved masternode system.
 
MyFarm said:
Moli, at present, any miner could steal all the coins from a pool. Some people have proposed workarounds which may or may not work (I suspect if someone put enough effort into it, that they could create a workaround). I personally didn't invest in SPR because of no pools, in fact, I think it's a bit of a hindrance to adoption. As the market determined no pools was worth about 150k is marketcap, I wasn't the only person not excited. I personally invested in the coin because the dev is competent. The question is whether he is competent enough to produce an improved masternode system.
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So then what exactly has his competence done besides use the existing Darkcoin base (now old)? If it wasn't about the lack of pools (workarounds being collateral deposits or multi-sig), what "innovations" has he done?
 
Its not clear at this time.

Apparently masternodes will be dynamic in terms of number of SPR required to run them creating competition to keep your masternode running. No details are available on what this actually means.

Its all a little suck it and see. Github activity doesn't give much away. Neither does the dev. About 6 to 10 DCT accounts really believe that SPR will be an alt-killer though.
 
stonehedge said:
Yes, its for real. People have been talking about it in private chat for months. Its not such a big deal. It doesn't really affect the decentralization model for SPR much. Other things will happen which cause a bigger risk to decentralization than people clubbing together with pools imho.
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I agree. It's human nature. Trying to get rid of pools is like trying to make people not to be greedy.
 
If Mr. Spread is truly genuine.. and now he can see his "no pools" model doesn't really work... I wish he would join Evan and the dev team... The more the merrier here.
 
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