The whitepaper is complete!!!
sha256 hash: 4e4a832b2471e59fa730b4cc071e1f75bd516da8af68732fb8597f2ef3dd894a
It's sha256 hash was successfully completed and forever embedded in the Bitcoin Blockchain on Pioneer Day (July 24th), 2023.
It is located in block #800,127.
With a txid of 5043ea3bd....
Genesis Block has been forged!!
merkle hash: f19430c99d84d77f07c9183c802b147ed9e183840e0df93d3d51c9948b7ed076
Genesis Hash: 00000000006854af34b85cccb4bb867ae0095aa714fc34a9a7a9ca243897cbc2
pszTimestamp: "BTC BLK: 000000000000000000050c443844cd8f5418afcf98d6919f8c4a3fa16422219b TXID: 5043ea3b..."
pubkey: "04678afdb0fe5548271967f1a67130b7105cd6a828e03909a67962e0ea1f61deb649f6bc3f4cef38c4f35504e51ec112de5c384df7ba0b8d578a4c702b6bf11d5f"
time: 1690242443 (Mon Jul 24 17:47:23 2023 - Mountain Daylight Time)
bits: 0x1c00ff00 (difficulty)
value: 700000000 (brigs / block)
nonce: 1960094637
Deseret Money (Utah)
Deseret Money (Utah)
Last edited by mqpickens on Wed Jul 26, 2023 4:12 pm, edited 3 times in total.
Re: Deseret Money (Utah) Whitepaper
Reviewing...
Re: Deseret Money (Utah) Whitepaper
Ok,
So, I've looked into adjusting the initial difficulty of the genesis block and it is totally doable.
Increasing the difficulty will prevent the first few weeks of the new blockchain from being mined in just a few days.
FYI, The genesis difficulty for Bitcoin required a hash rate of 7.15 Mh/s to maintain constant blocks
where AZ Money required a hash rate of 35.79 Mh/s.
In comparison, the latest in a single USB miner pumps out around 250 GH/s or 7,000 times faster than what it took to maintain the initial difficulty of the AZ Money network.
The only challenge is the program used create a genesis block can't handle very high difficulties without it taking literally years.
So, for Deseret money, a modest bump in difficulty of 257 will be used which isn't much, but it's better than nothing.
In comparison, this will require 9 Gh/s to maintain this initial blockchain (257 times more than AZ Money).
In the future, for other microcurrency launches, we will need to modify the genesis block program to handle asics so it can produce much higher difficulties in a reasonable amount of time. Anyone up for the task? It would require both c and python programming.
#time: 120 seconds
#blocks: 1440 per difficulty epoch
#bits: 0x1C00FF00
#target: 0x0000000000FF0000000000000000000000000000000000000000000000000000
#difficulty: 257.0
#hashrate: 9.1983 Gh/s
So, I've looked into adjusting the initial difficulty of the genesis block and it is totally doable.
Increasing the difficulty will prevent the first few weeks of the new blockchain from being mined in just a few days.
FYI, The genesis difficulty for Bitcoin required a hash rate of 7.15 Mh/s to maintain constant blocks
where AZ Money required a hash rate of 35.79 Mh/s.
In comparison, the latest in a single USB miner pumps out around 250 GH/s or 7,000 times faster than what it took to maintain the initial difficulty of the AZ Money network.
The only challenge is the program used create a genesis block can't handle very high difficulties without it taking literally years.
So, for Deseret money, a modest bump in difficulty of 257 will be used which isn't much, but it's better than nothing.
In comparison, this will require 9 Gh/s to maintain this initial blockchain (257 times more than AZ Money).
In the future, for other microcurrency launches, we will need to modify the genesis block program to handle asics so it can produce much higher difficulties in a reasonable amount of time. Anyone up for the task? It would require both c and python programming.
#time: 120 seconds
#blocks: 1440 per difficulty epoch
#bits: 0x1C00FF00
#target: 0x0000000000FF0000000000000000000000000000000000000000000000000000
#difficulty: 257.0
#hashrate: 9.1983 Gh/s
Last edited by mqpickens on Fri Jul 21, 2023 5:45 pm, edited 1 time in total.
Re: Deseret Money (Utah) Whitepaper
Currency name ideas: ( with ticker symbol idea)
1. Bees - BEES
2. Hives - HIVES
3. Pioneers - PI
4. Lillies- LIL
5. Honey - HON
6. Snowflake - FLAKES
7. Seagull - GULLS
8. Salt - SALT
9. Deseret - DES
10. Arches - ARCH
1. Bees - BEES
2. Hives - HIVES
3. Pioneers - PI
4. Lillies- LIL
5. Honey - HON
6. Snowflake - FLAKES
7. Seagull - GULLS
8. Salt - SALT
9. Deseret - DES
10. Arches - ARCH
Re: Deseret Money (Utah)
Thanks Ice!
I like Salt. That is actually the root word for salary... I think.
A few others..
Combs or Honey Combs
Briggs (for Brigham Young who was the original founder of "Deseret Money")
Utes (conflicts with the utah utes)
Re: Deseret Money (Utah)
a few more name
arches
oxyn
arches
oxyn
Re: Deseret Money (Utah)
White paper is almost complete. Check out the link in the OP.
Will post it to the Bitcoin Block Chain soon and give a final update.
FYI, With a the initial difficulty set to 257 it may take a few days to mine the genesis block and update the forked (microcurrency) bitcoin core software: viewtopic.php?p=87#p87.
We'll likely rent a several Dozen CPUs to get it done within a reasonable amount of time.
Will post it to the Bitcoin Block Chain soon and give a final update.
FYI, With a the initial difficulty set to 257 it may take a few days to mine the genesis block and update the forked (microcurrency) bitcoin core software: viewtopic.php?p=87#p87.
We'll likely rent a several Dozen CPUs to get it done within a reasonable amount of time.
Re: Deseret Money (Utah)
The whitepaper is complete!!!
It has successfully been added to the Bitcoin Blockchain!!
On July 24th (pioneer) day as planned and hoped for!
Check out the OP to download a pdf.
Next step is create the genesis block with a difficulty of 257.0.
The software tools to generate a genesis block with this level of difficulty may prove challenging.
Hopefully on the next few microcurrencies, the genesis block tool can be upgraded to support ASICs.
It has successfully been added to the Bitcoin Blockchain!!
On July 24th (pioneer) day as planned and hoped for!
Check out the OP to download a pdf.
Next step is create the genesis block with a difficulty of 257.0.
The software tools to generate a genesis block with this level of difficulty may prove challenging.
Hopefully on the next few microcurrencies, the genesis block tool can be upgraded to support ASICs.
Re: Deseret Money (Utah)
Thanks!!