State of the Redd-Nation :: Feb 12, 2016

Weekly Updates

Last Week

Another week has rolled by. So where did that week go, it seems like only yesterday that I wrote the last update. Maybe it has something to do with my age, as the time feels like only half of what it should have been.

Behind the scenes there is a lot going on and never a dull moment doing development. Sometimes it is difficult to convey all the activity that takes place. Think of it a bit like a lava flow… on the surface it moves steadily across the landscape, but under the surface it is a rolling and boiling entity.

So in the last week, the new wallet release candidate has been running very well, with not too much to report. Some typos and and such here and there that need to be rolled into the next build.

New Wallet - RC1

The new wallet is looking very promising. The changes to implement based on Bitcoin Core seem to have been well incorporated. The recent fixes are none critical and cosmetic, and will be rolled into the next build (RC2).

I have started putting release notes in order and general document tidy up. This part is quite time consuming as i need to cross reference multiple software packages.

I think we can start looking to a larger test environment, with potential to release onto mainnet in the not too distant future. I have a few migration tests to do first.

Cryptsy Withdrawals.

And for some more good news, thanks for bitnation for checking in on current Cryptsy withdrawal status.

It would seem that withdrawals have been enabled now for Reddcoin.

If you havent already, and you want to keep your coins, now is the time to get them off the exchange and into your own wallet.

Please note that Cryptsy also have a phishing attack of users to try and havest username/passwords. They have reset all passwords so you will need to re-establish

Collaborative Discussions

I have mentioned in the past that I believe we can operate in a competive, but collaborative market space. Particularly in the scope of altcoins. Whilst ever we operate in a divided (them/us) scenario, we will have a tough battle to succeed. A lot of lessons can be learnt by sharing experiences on what works and what does not.

A couple of examples I would like to mention are /u/Prohashing made a reference in his posting Progress and lessons learned from implementing BIP101 on altcoins. Steve has been doing some great work in porting BIP101 not only to litecoin, but also sharing his knowledge so that other devs can take advantage. A very interesting read if you have the time

Also /u/rnicolls of Dogecoin, has a lot to offer the community with his extensive experience and he has been active on a number of forums.

I am heartened to see such discussions happen outside of their own core work.


I want to start introducing discussion about the proposed ID system and what you can expect.
This has always been one of the main visions for Reddcoin, and a key feature for being able to make a successful social tipping platform.

Our goal is to provide a service that is both easy to access, and will provide added value.

Since early last year I have been looking various systems that have been implemented and how successful they have been, and what features they contain. This extends from embedded blockchain solutions like Namecoin, to products like keybase and Blockstack (formally OneName). Considering the options available, and based on my other RL experience, I am working on a solution that incorporates a combination of data embedded in the blockchain, and off chain storage.

The advantage is that it allows for extended data storage and manipulation. The on chain storage uses the OP_RETURN function and has an 80Byte capacity and the off chain storage is made up of DHT (Distributed Hash Table).

In essense, and if you are familiar with them, I have borrowed a lot from OneName/Blockstack as I think they have a very workable solution that can be adapted to what we are trying to achieve.

One of the other reasons for selecting this approach is that helps to seperate into layers the various services of the network.

I have been working on porting this into Reddcoin for the last few months (while taking a break from the Core Wallet). I am not putting a time frame yet, as there is still quite a ways to go.

But I would like to share some of the features that will be available:

  • Capability of registering a unique UserID (UID)
  • Capability of registering a unique NetworkID (UID)
  • There is an algorithmic generation of the fee based on complexity
  • Active wallets will have the opportunity to stake the UID/NID generated fee (on top of staking fee).
  • Name lookup embedded into Reddcoin-QT, Electrum Wallet, Browser Wallet

In the coming weeks, I will share more of what is install

In Closing

Thanks for taking the time to read Redd-Nation,

This coming week is already shaping up to be quite busy. Most of my focus is now on getting stuck into ReddID and making it reality for all of us.