News

New Webseite

 

Work on the new website has begun.

New block explorers, Seeder and 1Credit Nodes are done.

The work on the new wallet and graphics, video continue.

Social media is in the planning.

News

June 12th, 2014

With deep humility I must request everyone upgrade again, and I sincerely apologize for this being the third time in as many days.

As I had previously posted, the planned change at block 4000 underwent weeks of testing in the -testnet environment.  However, even with a half-dozen people mining against the -testnet tree, we could not completely duplicate the production current block history.

As such, when the block time continue to climb, we, well, honestly, we panicked.  We didn’t trust our own work, or our testing, and presumed we had something backwards and pushed out the previously release.   The block after that (which we are currently on) proved that indeed, we had it right with the block 4000 patch after all.  What we were seeing was simply the impact of historical quick blocks on the current timing.

Today, we pulled in another developer (thanks Wes!) to do code reviews.  We spent the time recoding the algo from being ‚inserted‘ to ’native‘, changing all related variable names to meaningful ones, instead of trying to make the code adapt to the portions that were common with the Litecoin base.

Although our confidence is high, we also enabled additional debugging statement.  Blocks on 1CR are rare, so an extra few lines in your debug.log will hardly be noticed, but should serve to build confidence that things are working as designed.

We also instituted some additional limiters – like not allowing the difficulty to adjust up or down more than 2X – something that is unlikely given a per block check.

Finally, we put a „safety valve“ in the code.  Should block times ever go extreme, like they are now, the next block will default to a minimum difficulty, giving the community a handful of quick blocks and allowing the difficulty algo to re-engage.   We hope that this will be „one-time-only“ code, which will take effect at block 4008, but it will be there no matter what happens.

Anyhow, new git source has been pushed and the windows wallet is updated and available in it normal spot off http://www.1creditcoin.org

Again, our sincere apologies

Cassey and team.

News

1 Credit Coin Relaunch

Today, we are announcing some dramatic improvements to the 1CR coin to address some of the impediments to adoption that have occurred in the past few months.

The coin was designed to be very secure, have little adoption by the multipools, and to be used for longer term investment uses (such as banking in the simulated worlds of OneBillionHex. One of the chief complaints to many of the pool operators was the extended time before pool users were able to receive their first payouts.  This was due to two security measures of 1CR: 1) 256 required confirmations, and 2) a defensive difficulty retargeting, designed to discourage mulitipool raiding of the coin during low diff periods.

Without pool cooperation, we found that general adoption of the coin was low, and the coin would be mined in a very dramatic roller coaster difficulty fashion, which led many to give up.

After careful lab testing – a new source code has been release, that goes into effect at block 4000 – probably within the next day or so.

The new source code will reduce the confirmations to a still very secure 156.  Note that most wallets add 20 to this.  As well, the difficulty retargeting has been ‘dampened’ to still discourage multipool raiding but provide a more consistant coin time.  We hope these changes will encourage pool owners to re-adopt the 1Credit Coin (1CR).  This should start to produce a bit more coins daily, and allow the pool users to receive their coins in a targeted 25 hours, versus 3-4 days the old settings yielded.

The coin is still a very rare coin, and is designed to have minimal forks (several months old and still not a single fork!), and minimal risk of double spend attacks.  There was zero premine, there are not secret payouts in the code, no IPO, and the only way the Dev or the team can make money on this is the same way you can, mining the coin.  It has held a pretty good value on Poloniex so far, even with the earlier design inconveniences, and we expect it to be a great coin to buy and hold as it gets integrated into the Crypto Ecosystems.

We need some community support, in the form of a few new pool operators, to really make this relaunch a success.  PM the Dev and he can introduce you to a few experts if you need a hand.