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SLIMCOIN SLM

 

Slimcoin (abbreviated SLM) is the first known cryptocurrency designed with a proof-of-burn block generation system along with both proof-of-work/proof-of-stake systems. Proof-of-burn mining can be compared to proof-of-work mining, differing in that it can be mined without powerful hardware and that faster and more powerful hardware offer absolutely no advantage over slower hardware. Slimcoin also uses a special "Dcrypt" hashing algorithm for proof-of-work. The Dcrypt hashing algorithm uses SHA256 as a back end, but in such a way that makes it extremely ASIC/FPGA resistant. Slimcoin is built upon Bitcoin and Peercoin, but unique in the fact that it is more energy-efficient, as both proof-of-burn and proof-of-stake blocks require minimal energy consumption. Proof-of-burn is made to be the energy efficient counterpart to proof-of-work, with the added benefit of a much easier setup and maintenance. Proof-of-burn eliminates the need for powerful hardware, thus eliminating the need for an ASIC implementation, making Slimcoin an even more ASIC-proof.

 

Short and Simple Proof of Burn Explanation:

Proof-of-burn mining is like proof-of-work mining without all of the hassles (maintenance, pre-order queues, etc...). Anyone can mine, regardless of what hardware they have in their possession. Having a fast computer offers absolutely no advantage over a slower computer in proof-of-burn.

 

What is Proof of Burn?

Simply put, proof-of-burn can be compared to proof-of-work, as they are both mined. Proof-of-work mining requires many hashes to be calculated until a valid hash is found. Proof-of-burn mining requires a valid hash to be found also, but the hashing is different. For a burn hash to be calculated, the user has to burn coins (explained in detail below). Burning coins can be related to proof-of-work as buying a powerful computer. Once the coins have been burned they are forever gone and in-spendable. Each burning is recorded as a burn transaction and each burn transaction can be used to generate a unique burn hash. Having a fast computer offers absolutely no advantage over a slower computer in proof-of-burn as proof-of-burn only allows 1 burn hash for each burn transaction to be calculated every ~90 seconds.

 

How does Proof of Burn really work?

Proof of Burn is mainly centered around the burning of coins and calculation their corresponding burn hashes. In order to burn coins, there is a special address, called a burn address.  No one has ownership of that address, thus when coins are sent to that address, they are considered "burnt". It is impossible for coins to be "un-burnt". That sending of coins to the burn address is recorded as a special type of transaction, a burn transaction. After the coins have been burned, a cycle of calculating so-called burn hashes begins. Each burn hash is specific and unique to each burn transaction sent in the network. The more coins that are burnt, the smaller this unique burn hash will be, making it more likely to be valid and accepted by the network. What differentiates the proof-of-burn algorithm from the proof-of-work algorithm is the fact that powerful computational resources are not needed. Once some coins have been burned, all that is needed to perform proof-of-burn mining is a low power computer running 24/7. The proof-of-burn algorithm is not demanding and having a faster computer offers no advantage over a slower computer. That is because every burn hash is also dependent on the last proof-of-work block to be accepted by the network. That means that until a new proof-of-work block enters the blockchain, if the burn hashes were to be recalculated, they would remain constant. Thus, for every burn transaction, only 1 burn hash has to be calculated. The hashing computer can then remain idle again until it receives another proof-of-work block. This low intensity work is what makes proof-of-burn a much more energy efficient form of mining.

 

Website
https://slimcoin.org/

 

Whitepaper

https://slimcoin.org/images/downloads/slimcoin_whitepaper.pdf

 

Block Explorer / Crawler
None Available.

 

Contact
None Available.

 

SPECIFICATIONS

  • Uses Dcrypt algorithm, an algorithm made to be difficult to implement on an ASIC.  This is done so that by the time any ASICs are made, Proof-of-Burn hash became bigger than Proof-of-Work
  • Tri-Hybrid Blocks: Proof-of-Burn blocks, Proof-of-Stake blocks, Proof-of-Work blocks
  • Block time is 1.5 minutes (90 seconds)
  • Difficulty re-targets continuously
  • Block Rewards:
  • Proof-of-Burn blocks: max 250 coins
  • Proof-of-Work blocks: max 50 coins
  • Block rewards decrease in value as the difficulty increases
  • Total 250 million coins

 

DOWNLOADS

 

Windows
https://github.com/slimcoin/slicmoin-executable

 

MacOS
None Available.

 

Linux
https://github.com/slimcoin/slicmoin-executable

 

Source Code
https://github.com/slimcoin/slimcoin

 

Sample slimcoin.conf

rpcuser=username
rpcpassword=password
rpcallowip=127.0.0.1
rpcport=41683
port=41682
gen=0
server=1
addnode=76.127.202.17
addnode=96.237.174.192
addnode=107.181.250.216
addnode=107.181.250.217
addnode=144.76.142.47
addnode=144.76.142.49

MINERS

 

Slimcoin Miner

Source Code:  https://github.com/slimcoin/slimminer

Windows:  http://www37.zippyshare.com/v/42180814/file.html

 

PORTS

  • RPC Port:  41683
  • P2P Port:  41682

 

POOLS

 

http://www.slimcoinpool.com/

https://slm.blockquarry.com/

http://new.hashharder.com/dcrypt/slimcoin

 

EXCHANGES

 

https://bter.com/trade/slm_btc

https://exarena.net/markets/slim-btc/

 

SOCIAL

 

Twitter
https://twitter.com/slmcoin

 

Facebook
None Available.

 

Reddit

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

 

SERVICES / OTHER

 

None Available.

Edited by Jimmy
Added / Updated Information.

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can't get wallet to connect... maybe noob error, don't know. care to help?

 

Make sure you add the nodes in the conf file.  Create a config file slimcoin.conf add the info above and put it in your C: > Users > Username > AppData > Roaming > Slimcoin folder.


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Make sure you add the nodes in the conf file.  Create a config file slimcoin.conf add the info above and put it in your C: > Users > Username > AppData > Roaming > Slimcoin folder.

so, i've downloades slicmoin-executable-master then unziped it to c:\. created the conf file, opened slimcoin-qt.exe, still does not connect :| must be doing something wrong

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so, i've downloades slicmoin-executable-master then unziped it to c:\. created the conf file, opened slimcoin-qt.exe, still does not connect :| must be doing something wrong

 

Did you put the conf file in the location I stated above?


CRYPTOCURRENCYTALK.COM

Discussing the world of cryptocoins and cryptocurrencies.

 

https://cryptocurrencytalk.com
Support:  https://cryptocurrencytalk.com/support/

Rules:  https://cryptocurrencytalk.com/guidelines/

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My wallet wasn't connecting at first either, but after I created the conf file everything seems to be working great!  So far, so good!

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Question: what do we need the miner for, can we just setgenerate true from the wallet?

is there a precompiled one for windows available?

Wallet synced so that works...

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"WARNING:Checkpoint is too old. Wait for block chain to download, or notify developers of the issue"

 

what's the problem??

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"WARNING:Checkpoint is too old. Wait for block chain to download, or notify developers of the issue"

 

what's the problem??

 

Make sure you have the latest client - link in OP.

 

Checkpoint warning isn't a big issue.  You can sill mine the coin.  That warning just means that the developer needs to add checkpoints to the client.


CRYPTOCURRENCYTALK.COM

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Make sure you have the latest client - link in OP.

 

Checkpoint warning isn't a big issue.  You can sill mine the coin.  That warning just means that the developer needs to add checkpoints to the client.

 

hi, thanks admin, this is my info , i've already  added all the node in my config file,

 

 
{
"version" : "v0.3.0.0-g154b52a-alpha",
"protocolversion" : 60003,
"walletversion" : 60000,
"balance" : 0.00000000,
"newmint" : 0.00000000,
"stake" : 0.00000000,
"blocks" : 0,
"moneysupply" : 0.00000000,
"connections" : 4,
"proxy" : "",
"ip" : "204.152.218.53",
"difficulty" : 0.00024414,
"testnet" : false,
"keypoololdest" : 1402164395,
"keypoolsize" : 101,
"paytxfee" : 0.00000000,
"errors" : "WARNING: Checkpoint is too old. Wait for block chain to download, or notify developers of the issue."
}
 
block height is 0 ?? any problem~

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{
"version" : "v0.3.0.0-g154b52a-alpha",
"protocolversion" : 60003,
"walletversion" : 60000,
"balance" : 0.00000000,
"newmint" : 908.33000000,
"stake" : 0.00000000,
"blocks" : 21,
"moneysupply" : 908.33000000,
"connections" : 5,
"proxy" : "",
"ip" : "204.152.218.53",
"difficulty" : 0.00062385,
"testnet" : false,
"keypoololdest" : 1402164395,
"keypoolsize" : 102,
"paytxfee" : 0.00000000,
"errors" : "WARNING: Checkpoint is too old. Wait for block chain to download, or notify developers of the issue."
}

 

it seems working now~~ good work, but the reward of a block is 40.29 ?? not 50??

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There's never been a coin that I could solo mine profitably before. Can some one help me with this? I'd also like someone to explain what happens when I "burn" coins. I'm new to the concept of proof-of-burn, and also new to solo-mining. Any help is greatly appreciated. Thanks in advanced.

 

EDIT: I figured out how to solo mine, but now I've got another problem.

 

I've been mining on Slimcoinpool.com, and I've got over 375 Slimcoin that I'm waiting on receiving. It says it's paid out, but it's not showing up in my wallet. I've had the entire block chain downloaded for several hours now, with no sign of any of my coins. Am I just not patient enough? Or is there some problem I don't know about?

 

Still would like to know about burning.

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