A new trend is coming in the Altcoin scene, why make a new Coin when you can build equity onto an existing coin?

ColossusCoin



The issues:

Multiple errors in the code, several hardforks, missing balances from BTCLTC, missing balances to Cryptsy (holds approximately 30-40% of the Coins and halted withdrawls)

The Benefits

The name ColossusCoin

Website http://www.colossuscoin.org/

Forums http://www.colossuscointalk.org (Mod)

Facebook https://www.facebook.com/Colossuscoin (Mod)

Twitter https://twitter.com/Colossuscoin

reddit http://www.reddit.com/r/ColossusCoin/


Possible solution?

I am thinking a full swap for a new Blockchain would be best, off the exchanges for a period of 3-4 months but that would involve extra coding. I'm not confident in myself that I could do it all on my own since I also work full time and less than a years worth of coding experience but I do have a few prototypes to work with along with a lot of ideas, resources and guides, contact with several exchanges.

What do you guys think? there is more available than just this bit and how would the Coins be handled? What to do about exchanges so that it can remain Proof of Stake only without Exchanges becoming a risk (eg. Moolah)


UPDATE FEB 3, 2014

I am closing this thread since I don't want to have multiple threads cluttering up the forums and confusing everyone as we progress into the final version. All further discussion will be moved to our launch thread at https://bt.irlbtc.com/view/941433.0 but keeping this thread as reference to the active progression of the project.


UPDATE NOV 6, 2014

I will be away from Nov. 10th to Nov 20th, heading to Vegas for 30th birthday celebrations. The source here is provided for final improvements. I have added 350k Multiwalletcoin to the development fund and also have another 150k to add as well along with some Mary Jane coin that was given to me. I have contacted a couple people for quotes and will also try to provide a more comprehensive list of funds available for the bounty plus a teaser video which is one of many promotional videos we have ready.


UPDATE NOV 9, 2014

fire rabbit provided a few promotional videos for me and said it was alright if I hosted them here, he does great video work for Crypto and did some work for LiteCoinDark as well.

Here is part 1 of a mini-series to help get people more interested in the ColossusCoin project.

https://www.youtube.com/watch?v=fRHpZcIqb6I&feature=youtu.be

UPDATE JAN 3, 2015

ColossusCoin 2.0 is now LIVE and Staking

Proof of Work has ended and is now Proof of Stake only

Sourcecode: https://github.com/Crestington/Colossuscoin2test

The Specs

Algorithm: X11

2 minute Blocktime

Proof of Work

190 Million per Block the first 100 Blocks
1000 Coins per Block from Block 100 to 7200 (10 days)
0 Coins per Block after Block 7200

POW ends after Block 7200 (approx. 10 days)

Proof of Stake

7 day minimum age
28 day maximum age
8% a year inflation halving down to 4% every 64 times difficulty (8%, 6%, 5%, 4.5% etc...)
Maximum Stake reward is 25,000 (max block size 4-16 million)
Fee is 20 Coins per 1 kb transaction (sending one transaction up to 6-7 combined inputs)

The reward is Stake Reward (up to 25,000), plus Fees included in the Block

Stake Split threshold is 10 days
Stake Combine threshold is 200,000 Coins

This means that if your Coins Stake before 10 days, it will split your reward into 2 equal sized Blocks regardless of size. If a Block of Coins Stake after 10 days and are less than 200,000, it will combine the Coins and Stake reward into one Block.

Coin Control

Coin control lets you view your transactions and the amount of Coins in each Block you have along with it's confirmations.

You can enable it by going into "settings" then "options" and under the "display" tab, choose "display Coin control" and apply the changes.



Then you go back to the Wallet and go to "Send Coins" and you can now view a list of all your Blocks and can sort it by size, confirmations or addresses.



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Staking reward changes and planning a hardfork

I am looking for some help with reward changes and creating a hardfork. There are two bugs here in which need to be resolved.

Bug #1 Actual reward for Staking is almost always the subsidy limit of 25,000 Coins which would lead to an actual amount of inflation of approximately 6 Billion a year.

Bug # 2 Fees are doubled in the Proof of Stake reward. When a fee is collected as part of the transaction, the Proof of Stake Block that confirmed the Block receives the Fee reward twice.

ColossusCoin 2.0 is currently in Private Beta, we can offer Bounties for upgrades and final tweaks to the rewards