Reddcoin Bi-Weekly Development Update
Welcome again Reddheads to the bi-weekly update of Reddcoin Development.
This week I am going to cover off where we are up to on Reddcoin development.
The efforts are now being placed on a range of fronts in a multi pronged approach, covering a number of aspects of the Project. All the while the main focus is on delivering the project in the order laid out in the published roadmap
As you may well be aware, we have a very ambitious Reddcoin Roadmap that covers a lot of bases. The main priority is to complete the ReddID system and get it into a state that can start being used by the general public.
You may not be aware, but ReddID has been worked on over the last 12 months while development was also being done on Core and a few of our other projects.
In its current form, ReddID is operating on testnet whilst development work continues, but it is expected to switch over to the mainnet soon. Overall it is progressing very well, and at the current rate of development believe that we will hit our target deploy dates.
In the spirit of trying to make the interface into ReddID as simple and attractive as possible, we are working on providing a simple API and GUI to help kick start the registration process. This will also extended to allow for 3rd party integrations.
As per our timeline (early next year), the registration process will also integrate directly into the wallets.
Reddcoin Electrum Server and Clients
Reddcoin Electrum Client
Over the last couple of weeks, have been working on getting the Reddcoin Electrum client operational again.
A number of things needed to be addressed in the client, and to also resolve several issues regarding compiling to a self contained Windows executable (Did you know that the electrum wallet is actually written in Python).
The original Electrum Windows client(v1.0.4), had a number of items that were broken, which did not do the wallet justice operationally. Things like the plugin component are now working and we have the capability of displaying exchange rates (from a number of exchanges) within the client GUI. The new version also implements BIP44 registered coin types.
BIP44 allows for the master node (seed) to be used for any number of independent cryptocoin. Although we dont have an immediate need for this, it future proofs our design. Reddcoin is registered in the SLIP-0044 document (index 4). We were very early adopters.
There are still a number of steps to be completed before having Reddcoin Electrum up to date with the current Bitcoin version, but there is now a firm foundation on this client development and in its present form could be used as is.
The updated client (v2.0.0) is almost ready for deployment as a release candidate (RC). Let me know if you are interested in testing and providing feedback.
Electrum client with exchange rates embedded
Reddcoin Electrum Server
The Reddcoin Electrum server code has also been brought up to date with the current Bitcoin release.
As a part of the testing of the client, the server can also be provided if you are interested in running a node. This is a voluntary operation, but I have some long term goals to make this a viable and cost effective activity for those of you who are technically motivated.
The Reddcoin Electrum server, along with the Electrum protocol will provide the main portal for ReddID registration and management. An advantage of this approach is that it can then be used by other third part wallet services (eg like Coinomi) if they desire.
For the launch of ReddID, we are giving consideration to the various options as to how this will transpire.
As has been mentioned in previous posts, the act of registering an ID will have an associated cost (in RDD). This serves several purposes
- Imposing an ongoing cost on registration will help deter ID campers/squatters, particularly those who want to sweep up a number of ID’s in the early days
- The amount paid for an ID is returned back to the network as an additional reward for staking. The fee collected will allow users who are staking to receive a bonus reward.
- Unpaid or expired ID’s will return to the network and can then be claimed by a new user
To share some of the ideas, we are considering to help kick start the registration:
- The first operation of ReddID will be the registration of a NAMESPACE. The reward for generating and staking that block will be a substantial amount of Reddcoin (expect > 5MM RDD).
- The time period for generating that NAMESPACE id will be a random block within the next 3 months.
- Invite and provide the first year of registration free for a ReddID.
- Ongoing promotion and advertisent on our various social media accounts
And as potential users of this system, interested in your feedback and what you feel is both fair and reasonable.
As a timely reminder for you: If you are presently staking, and you are operating an old client (1.4.1 or lower), once the network reaches 85% your blocks will not be valid and you will lose your stake reward.
Download the latest V2 wallet here
The current status is:
- v2.0 wallet is now at 68% and now the majority client according to bitinfocharts
- v4 blocks are averaging 75% (BIP66 activation)
Reddcoin 2016-2017 Roadmap:
The Reddcoin Roadmap has been release now for a month already.
With that, we have been pushing forward with the schedule, and if the above work is any testimony we are looking good to meet with the schedule.
Although the time-line for the roadmap is linear, a lot of the work occurring is actually overlapping as we start to bring some of the new features.
Bitcointalk Reddcoin ANN Thread
This has been on the Reddcoin team radar for quite a while now, We have been investigating either relaunching a new thread, or re-enabling the existing BitcoinTalk Reddcoin ANN thread.
Both options are available but either way, there is a bit of work to do to craft the Original Post with up to date information that reflects the current status of work and goals, along with the roadmap.
This is an exciting moment, as we have not had a very strong presence on BitcoinTalk for almost 2 years. It will be good to establish this line of communication once again with the community.
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.
Thank you for your patience.
I know in this arena things projects move fast, but I am confident that we now have a platform to move forward.
There are lots of exciting projects out there, but none quite touch on the ideas I have in mind.
As always, there is still plenty to do, and there is no time for resting.
So where ever you are, enjoy your week ahead
Keep on staking!