BitShares X Status Update

[JakeThePanda]

Initial bugs from margin calls have been resolved.  I am sure there are a few more lurking in there..

Items on my todo list include:
1) Implement Trx Fees
2) Automate mining (it is currently manual and dependent upon manual trxs)
3) Dynamic fee adjustment based upon block size
4) Validate difficulty adjustment
5) Import bitcoin wallets and bitcoin private keys
6) Generate genesis block from PTS snapshot
7) Fix bugs / security / robustness of wallet.

Items I am leaving out of the MVP
1) Options
2) MultiSig Transactions
3) Cross Chain Trading
4) Escrow
5) Interest

I suspect that items 1 through 4 should be complete by Monday.  I will be taking Friday through Sunday off to spend time with my kids.    If all goes well we should be MVP feature complete by Valentines Day and can focus the last several of weeks on testing and robustness for a launch the first week of March.

Is the first snapshot still 02/28?

[bytemaster]

Initial bugs from margin calls have been resolved.  I am sure there are a few more lurking in there..

Items on my todo list include:
1) Implement Trx Fees
2) Automate mining (it is currently manual and dependent upon manual trxs)
3) Dynamic fee adjustment based upon block size
4) Validate difficulty adjustment
5) Import bitcoin wallets and bitcoin private keys
6) Generate genesis block from PTS snapshot
7) Fix bugs / security / robustness of wallet.

Items I am leaving out of the MVP
1) Options
2) MultiSig Transactions
3) Cross Chain Trading
4) Escrow
5) Interest

I suspect that items 1 through 4 should be complete by Monday.  I will be taking Friday through Sunday off to spend time with my kids.    If all goes well we should be MVP feature complete by Valentines Day and can focus the last several of weeks on testing and robustness for a launch the first week of March.   

[santaclause102]

Today I made some more progress on the margin call code.   The majority of the code is in place and I am actively tracking down one bug at a time.  The effort to setup the test cases is getting increasingly complex. 

More updates to come tomorrow.

[bytemaster]

Today I made some more progress on the margin call code.   The majority of the code is in place and I am actively tracking down one bug at a time.  The effort to setup the test cases is getting increasingly complex. 

More updates to come tomorrow.

[aasl]

Is the latest BTS compatible with previous bts wallet? I compiled the latest code and import my previous bts wallet, but got this error when launching:

Out of Range(out_of_range)
read datastream of length 65 over by 18446744073709551613
error reading last item from database
error loading blockchain database datadir/chain

The code does not lie.  I have tweaked the blockchain structure so the items in the database are not compatible.

Does this mean that my testing bts and usd are gone? If so, can I get new testing bts and usd in the next testing period?

Of course we will give fresh BTS for the new tests.

The next test chain will have margin call support and mining with Trx as Proof of Stake... I am working on the margin call code now.

Great! I will wait for the new updates

[bytemaster]

Is the latest BTS compatible with previous bts wallet? I compiled the latest code and import my previous bts wallet, but got this error when launching:

Out of Range(out_of_range)
read datastream of length 65 over by 18446744073709551613
error reading last item from database
error loading blockchain database datadir/chain

The code does not lie.  I have tweaked the blockchain structure so the items in the database are not compatible.

Does this mean that my testing bts and usd are gone? If so, can I get new testing bts and usd in the next testing period?

Of course we will give fresh BTS for the new tests.

The next test chain will have margin call support and mining with Trx as Proof of Stake... I am working on the margin call code now. 

[aasl]

Is the latest BTS compatible with previous bts wallet? I compiled the latest code and import my previous bts wallet, but got this error when launching:

Out of Range(out_of_range)
read datastream of length 65 over by 18446744073709551613
error reading last item from database
error loading blockchain database datadir/chain

The code does not lie.  I have tweaked the blockchain structure so the items in the database are not compatible.

Does this mean that my testing bts and usd are gone? If so, can I get new testing bts and usd in the next testing period?

[bytemaster]

Is the latest BTS compatible with previous bts wallet? I compiled the latest code and import my previous bts wallet, but got this error when launching:

Out of Range(out_of_range)
read datastream of length 65 over by 18446744073709551613
error reading last item from database
error loading blockchain database datadir/chain

The code does not lie.  I have tweaked the blockchain structure so the items in the database are not compatible. 

[aasl]

Is the latest BTS compatible with previous bts wallet? I compiled the latest code and import my previous bts wallet, but got this error when launching:

Out of Range(out_of_range)
read datastream of length 65 over by 18446744073709551613
error reading last item from database
error loading blockchain database datadir/chain

[bytemaster]

My BTS testing address:

LPfW6ExR2fzxzJj8fnSH8ejGP1z

Please send some Test Bitshares!

No testing is going on at the moment... but I will have a new test chain soon.

[bitcoinerS]

My BTS testing address:

SnXRh3rJLuWWEyDAcWSvJAUzV3s

Please send some Test Bitshares!

[yidaidaxia]

The latest changes to the client make it incompatible with earlier alpha test chains. 

I will put together a new white paper before Valentines Day (Feb 14) which updates everything.    I am effectively following the Trx as POS white paper Nov 28th with a few small tweaks.

Excellent! Looking forward to all these great progress!

[bytemaster]

The latest changes to the client make it incompatible with earlier alpha test chains. 

I will put together a new white paper before Valentines Day (Feb 14) which updates everything.    I am effectively following the Trx as POS white paper Nov 28th with a few small tweaks.   

[oco101]

Today I made more progress on the block generation and validation algorithm.   The wallet has successfully mined a few blocks and the difficulty goes up when there is not enough Proof of Stake. 

Tomorrow I will do the following:
1) Select inputs from your wallet oldest-first so that your transactions can be validated as quickly as possible and contribute the most to securing the chain.
2) Automatically generate transactions to yourself if it will generate enough CDD to reduce the difficulty to the minimum amount.

In response to the question about eliminating mining, I have concluded that ripple-style consensus would have more downsides than straight up POS mining.  Namely, even with 100 nodes people would call it centralized.   I will probably work on a consensus based system in the future, but the POS mining is easier now.

Unlike NXT most of the transactions fees are paid as dividends and only a small portion paid to miners.   Also unlike NXT, everyone is contributing to the security of the network when they make a transaction.

To my understanding, at least in the MVP, the Ripple style consensus and the neural network style positive feedback loop is abandoned. Am I wrong?

If it is true and you have already made the decision, I suppose a more clear and official announcement needs to be made.

[peterzz]

Today I decided to focus on the JSON-RPC API so that people could start building block explorers, web wallets, and other user interfaces that interact with my backend.  To that end there is now a relatively complete JSON-RPC interface for communicating with the wallet, though the documentation on how to use it is sparse.   Perhaps someone can update wiki.invictus.io with information on this RPC interface?   

I am pleased to announce an alpha test period available to anyone who can compile the code.   If you generate an address I will send you some test BTS to play around with.    At this point it is very likely that we will find many bugs so I may reset the chain every day while I get the bugs fixed and this is why I am not releasing binaries right now.

Margin calls, trx fees, and interest are still left to be implemented and the only BitAsset right now is USD. 

Let the testing begin

Please send some BTS or BitUSD,Thanks~
M6uPxhBuaRMHn7gJJn2mZ3Kh8RC