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[LAB] Sciencechain Blockchain Number Generator Information and Discussion

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Sciencechain LAB
 
What is Sciencechain? Sciencechain is a 9-algorithm, 3-random hash peer to peer blockchain number verification system based on Bitcoin and Quark. It began its life as a "demo" coin from CoinLab.info (later Coinworks.info) and was abandoned when those sites went defunct. 
 
What parameters comprise the Sciencechain Blockchain? Sciencechain was designed for an unlimited number of tokens with a rapid 3-week initial distribution to 1 million tokens and then 1 token per block for ever. Currently as of this writing, Sciencechain has approximately 700,000 blocks which equates to roughy 1.7 million tokens in existence. Blocks on the Sciencechain are designed with 1-minute block intervals and 4 block averaging for difficulty readjustment.
 
SERVICES!?! EXCHANGES!?! MOAR!?! In its original CoinLabCoin LAB format, LAB was listed on prominent exchanges such as Bittrex. Its original use was as an in-house currency for purchasing cryptocoins and services on Coinworks.info. LAB was delisted from Bittrex due to lack of market action and Coinworks.info went offline in late 2014. LAB was also listed on Cryptsy, but due to their legal issues, the LAB that resides in that site should be considered lost.
 
WHY? I've been a member of the coin-scene for about two years now. My first taste of coining was a result of Coinworks.info, I purchased a coin from them partially using LAB that I had mined and some I'd acquired from Cryptsy. When they closed the doors, I lost support for my own (unreleased, ever) coin and decided I'd have to go it alone and learn about these things. I began by learning how to build wallets and compiled a few for other people as I learned. Eventually I was ready to try updating a coin to Core level code. I'd always read "DON'T START A NEW COIN, PICK AN OLD ONE!" so in that vein, I decided on LAB. I originally approached Coinworks to get permission, but got no response. I was able to use an archived Github link and the latest Quark code to update the coin to CORE level.
 
So what now? Well, for now, we have bug-fixed Core level code, a website, a working explorer with richlist and total number of coins, a pool, and an exchange.
 
Windows GUI: https://github.com/sciencechain/Windows/archive/master.zip
Macintosh GUI: https://github.com/sciencechain/Macintosh/archive/master.zip
Sourcecode: https://github.com/sciencechain/LAB
Nightly/Alpha/Testing Source: https://github.com/riftdotspace/LAB

Faucet: http://explorer.sciencechain.org:8080/
Website: http://sciencechain.org
Explorer: http://explorer.sciencechain.org
Exchange: https://novaexchange.com/market/BTC_LAB/
 
What's next? Have some great ideas actually--this is a great legacy coin with solid code, it survived the collapse of an exchange and a VERY extended dead point with zero blocks. I plan to add SCIENCE type items to the coin over time including: a way to encode data directly on to the block chain, random entropy generation APIs, dataset mining using hashing available within the Sciencechain, and useful science based items directly in the wallet. Long term, a distributed hash network of cloud computing will be integrated in to the wallet so we can open up the Sciencechain beyond the cryptocurrency space.
 
What's the catch? No catch. You can see easily the sourcecode and the explorer and see if LAB is something you're interested in. We know that one of the largest wallets on the explorer HAS to be Cryptsy's defunct and considered lost wallet so the number of coins may be less even than currently tallied. Mining is simple using the in-wallet GUI miner or any Quark based miner. 
 
Support? So here's the deal, I have a life and a full time job, a wife, 3 kids, a dog, two cats, a hamster, and some fish. This is a project thats taken me a few months to get together including the site, wallets, and everything else and is a learning experience. I have been a software designer and technical project manager for nearly 25 years though, so I can pledge that we have a plan and will make progress. Resurrecting LAB is a better idea than launching YASC (yet another shit coin). It's a fair coin and has plenty of decent distribution. Its easy to mine and cheap if you just want to get a few to sit on. I will absolutely not sit on this thread and answer questions about "when will coin have value" or "where is dev when coin need features." I will however give regular updates on what is coming and would love to have some great community learning experiences.
 
I can be contacted at @riftdotspace on twitter or via PM here.

 

 

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What's next? Have some great ideas actually--this is a great legacy coin with solid code, it survived the collapse of an exchange and a VERY extended dead point with zero blocks. I plan to add SCIENCE type items to the coin over time including: a way to encode data directly on to the block chain, random entropy generation APIs, dataset mining using hashing available within the Sciencechain, and useful science based items directly in the wallet. Long term, a distributed hash network of cloud computing will be integrated in to the wallet so we can open up the Sciencechain beyond the cryptocurrency space.

 

 

I'm liking what I'm reading here.  A lot better than reading the "copy and paste" stuff that other developers put in their "Roadmap".

 

I'm use to hearing "Andriod Wallet", Marketplace, and some other crap which 20 other developers have already done before.

 

Good to see you're thinking outside of the box!  New is good.


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It is nice to see a revival. I hope you manage to get this to where you want it to be, I used to have a decent amount but I fear I may have left it at Cryptsy. I will dust off the old drives in the hope of finding the wallet.dat otherwise I may have to buy to get back to the level I want.

 

From what I remember mining might be a bit low on rewards by now. Could be wrong. Maybe you can throw in some specs of where the coin is at now. Good luck.

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Very easy to mine right now.  Got the quark miner running solo.   :ph34r:


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Currently (and actually since block ~100,000) LAB has been one coin per block. The explorer's stats as of right now show a tally of 1704330 based on 770000 blocks. So there are sub-2 million total coins at this point and the number isn't increasing too rapidly.

 

I have also considered a halving interval fork in the future, to reduce the number of coins slowly, perhaps over a 2-3 year period to .1 or .01 coins per block. I'm less concerned with total number of coins from a value standpoint and more concerned with ensuring a reason to point even a small amount of distributed computing power at the network. If it ran out for 2-3 more years with 1, .5, .25, .125 the network will only grow by a few million additional tokens. This gives new users some chance to still "mine" some LAB and should keep the price reasonable as inflation will occur, though not at ridiculous levels.

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I have also considered a halving interval fork in the future, to reduce the number of coins slowly, perhaps over a 2-3 year period to .1 or .01 coins per block. I'm less concerned with total number of coins from a value standpoint and more concerned with ensuring a reason to point even a small amount of distributed computing power at the network. If it ran out for 2-3 more years with 1, .5, .25, .125 the network will only grow by a few million additional tokens. This gives new users some chance to still "mine" some LAB and should keep the price reasonable as inflation will occur, though not at ridiculous levels.

 

I like this idea.  Though, sounds like some time is needed to think this one out.


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Have to dust off the GPU tomorrow then I will give Jimmy a run for his money.

 

I think it re-targets every 9 blocks.  So a pool might be needed if people start mining the crap out of the coin.


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Looks like some people are mining LAB.  Difficulty has went up to 3.5.


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