Jump to content

Close
Photo
* * * * * 2 votes

Butterflycoin BFC Information

butterflycoin bfc information cryptocoin cryptocurrency crypto-currency

23 replies to this topic

#1 DakotaEllington

DakotaEllington

    Butterflycoin Developer

  • DEVELOPER
  • Pip
  • 20 posts
  • 2 topics

Posted 30 August 2013 - 02:45 PM

raz0vq.png
 
BUTTERFLYCOIN BFC
 
Butterflycoin is based off of the SHA-256 hashing algorithm and adds support of POS block minting to help protecting against 51% attacks. Butterflycoin is based off the Bitcoin open sourced code, and like Bitcoin, is still in the beta phase. Plans are to follow the latest Bitcoin patches and releases as new updates are pushed. The Butterflycoin project is set to move along with them.
 
There are two big advantages of Butterflycoin. The first being, it uses the SHA-256-based hashing algorithm. This offers a different solution than most scrypt-based alt-coins, because scrypt-based coins can’t be mined with the latest ASIC mining technology. Butterflycoin fixes this by giving miners the ability to participate in mining the coins, no matter what type of hardware they use. From CPUs to ASIC miners, Butterflycoin can be minted with whatever hardware you choose.
The second advantage is, Butterflycoin implements Proof-Of-Stake (POS) block minting. This not only helps protect the network against against 51% attacks, but it also allows miners to mint coins by just holding them in their wallets for period of time. PPC is a great example of a SHA-256-based coin that implements POS, and has warded off 51% attacks because of it.
 
Butterflycoin is decentralize so than there is no singe point of attack. It has super fast 30 sec confirmations and network rewards 30 Butterflycoins for each new block solved. Difficultly re-targets every 2 blocks, and is set to adjust so that 1 block is solved every 30 second (so an average of 60 Butterflycoins are mined each minute). Frequent block re-targets help ensure transactions don’t get stuck on a high difficulty and cause the network to grind to a halt. Butterflycoin has a total supply limit of 7,000,000,000 (7 Billion) coins. This equals one coin for each human alive at the time of its creation. The idea is that there will always be enough coins to go around, but still an upper hard limit of 7 Billion.
 
Website
http://butterflycoin.com/
 
Block Explorer / Crawler
https://andarazorofl...ock_crawler.php
 
SPECIFICATIONS

  • SHA-256 Algo
  • POW and POS minting
  • Block target is 30 seconds
  • Block reward is 30 coins per block
  • Difficulty changes every 2 blocks
  • Block reward stays 30 coins per block
  • POS minting rewards 1%
  • An average of 1 Butterflycoin is set to be generated each second
  • Supply Cut-off at 7 Billion

 

DOWNLOADS
 
Windows
http://bit.ly/16WMssl
 
Source Code
Github: https://github.com/D...gton/SourceCode
Download: http://butterflycoin.com/wp/download/
 
Sample butterflycoin.conf


rpcuser=USERNAME
rpcpassword=PASSWORD
rpcallowip=127.0.0.1
daemon=1
server=1
listen=1
rpcport=18477
port=18377
addnode=69.85.86.195

Getting Started:
1. Start Butterflycoin-qt.exe, wait for it to load, then exit.
2. Download and put Butterflycoin.conf (see sample file above) in your c:/users/**yourcomputername**/AppData/Roaming/Butterflycoin
3. restart Butterflycoin-qt.exe, and you should connect and sync.
4. For solo mining, launch Debug window, go to console tab, type: “setgenerate true”
 
PORTS

  • P2P Port:  18377
  • RPC Port:  18477

 

POOLS
 
Coinex Mining
https://coinex.pw/mining/pools/BFC [CLOSED ATM]
 
Dsync Pool
http://bfc.dsync.net
 
EXCHANGES
 
Coinex Exchange
https://coinex.pw/trade/bfc_btc [CLOSED ATM]
 
SERVICES / OTHER
 
Twitter
https://twitter.com/EndSuck
 
Donate to Developer
Butterflycoin: BHPBzGHyZ9nQXQEPeMuyWPJxEnLrGXibWR
Bitcoin: 13wvQD8Ao8ttyc1iYL5nt9zLP4e5RDVr9h
Litecoin: LMeHjXLSaVG4VPTUVZCkuQpidub1egC3Gs



Cryptocointalk.com doesn't endorse any ads. Warning: ads my be illegal or untrustworthy in your jurisdiction. Advertising Here.

#2 Jimmy

Jimmy

    Cryptoforumologist

  • ADMIN
  • PipPipPipPipPipPip
  • 4,152 posts
  • 1,190 topics
  • LocationPennsylvania, USA

Posted 30 August 2013 - 03:59 PM

Are there anymore addnodes I can add to this BFC info thread?


CryptoCoinTalk.com

Discussing the world of cryptocoins and cryptocurrencies
 
Information posted on CryptoCoinTalk.com doesn't constitute legal or financial advice.  Please consult a licensed trained professional.  CryptoCoinTalk.com does NOT host cryptocoin mining software nor does it create or develop any cryptocoins.  Cryptocointalk.com doesn't endorse any cryptocoins or cryptocoin services.  Please follow all local, state, federal, and international laws.  Any views expressed are provided for informational purposes only and represent only the opinions of this CryptoCoinTalk.com website and should not be construed in any way as an offer, an endorsement, testimony, or inducement to invest.  All cryptocoin launch announcements / information threads are informational threads created to provide information about a new cryptocoin.  In no way do these launch announcements / informational threads denote that CryptoCoinTalk developed the launched cryptocoin.  Download links come without any warranties implied.  Download and use cryptocoin / cryptocurrency software, mining pools, or any listed services at YOUR OWN RISK.


#3 feeleep

feeleep

    New Member

  • MEMBER
  • Pip
  • 9 posts
  • 0 topics
    • Time Online: 4h 18m 23s

Posted 31 August 2013 - 12:30 AM

link to source doesn't work...



#4 Jimmy

Jimmy

    Cryptoforumologist

  • ADMIN
  • PipPipPipPipPipPip
  • 4,152 posts
  • 1,190 topics
  • LocationPennsylvania, USA

Posted 31 August 2013 - 06:47 AM

link to source doesn't work...

 

Works fine for me.


CryptoCoinTalk.com

Discussing the world of cryptocoins and cryptocurrencies
 
Information posted on CryptoCoinTalk.com doesn't constitute legal or financial advice.  Please consult a licensed trained professional.  CryptoCoinTalk.com does NOT host cryptocoin mining software nor does it create or develop any cryptocoins.  Cryptocointalk.com doesn't endorse any cryptocoins or cryptocoin services.  Please follow all local, state, federal, and international laws.  Any views expressed are provided for informational purposes only and represent only the opinions of this CryptoCoinTalk.com website and should not be construed in any way as an offer, an endorsement, testimony, or inducement to invest.  All cryptocoin launch announcements / information threads are informational threads created to provide information about a new cryptocoin.  In no way do these launch announcements / informational threads denote that CryptoCoinTalk developed the launched cryptocoin.  Download links come without any warranties implied.  Download and use cryptocoin / cryptocurrency software, mining pools, or any listed services at YOUR OWN RISK.


#5 DakotaEllington

DakotaEllington

    Butterflycoin Developer

  • DEVELOPER
  • Pip
  • 20 posts
  • 2 topics

Posted 02 September 2013 - 01:03 AM

Are there anymore addnodes I can add to this BFC info thread?

 
 

Works fine for me.

 
Okay, Github link has been added.
 
As for more addnodes, I don't have anymore atm. Are you having any issues with the current addnode?



#6 Jimmy

Jimmy

    Cryptoforumologist

  • ADMIN
  • PipPipPipPipPipPip
  • 4,152 posts
  • 1,190 topics
  • LocationPennsylvania, USA

Posted 02 September 2013 - 07:51 AM

Okay, Github link has been added.
 
As for more addnodes, I don't have anymore atm. Are you having any issues with the current addnode?

 
No, things are working fine here.  No problem connecting.  Just figured I would add any additional addnodes if there were any.


CryptoCoinTalk.com

Discussing the world of cryptocoins and cryptocurrencies
 
Information posted on CryptoCoinTalk.com doesn't constitute legal or financial advice.  Please consult a licensed trained professional.  CryptoCoinTalk.com does NOT host cryptocoin mining software nor does it create or develop any cryptocoins.  Cryptocointalk.com doesn't endorse any cryptocoins or cryptocoin services.  Please follow all local, state, federal, and international laws.  Any views expressed are provided for informational purposes only and represent only the opinions of this CryptoCoinTalk.com website and should not be construed in any way as an offer, an endorsement, testimony, or inducement to invest.  All cryptocoin launch announcements / information threads are informational threads created to provide information about a new cryptocoin.  In no way do these launch announcements / informational threads denote that CryptoCoinTalk developed the launched cryptocoin.  Download links come without any warranties implied.  Download and use cryptocoin / cryptocurrency software, mining pools, or any listed services at YOUR OWN RISK.


#7 Jimmy

Jimmy

    Cryptoforumologist

  • ADMIN
  • PipPipPipPipPipPip
  • 4,152 posts
  • 1,190 topics
  • LocationPennsylvania, USA

Posted 02 September 2013 - 09:02 AM

Butterflycoin is having fun with the new cgminer 3.4.1.  I hit one block in the last hour... my accepts read:  2903.  I wonder if there is a bug in the new version of cgminer.  I will have to check it out on another coin.


CryptoCoinTalk.com

Discussing the world of cryptocoins and cryptocurrencies
 
Information posted on CryptoCoinTalk.com doesn't constitute legal or financial advice.  Please consult a licensed trained professional.  CryptoCoinTalk.com does NOT host cryptocoin mining software nor does it create or develop any cryptocoins.  Cryptocointalk.com doesn't endorse any cryptocoins or cryptocoin services.  Please follow all local, state, federal, and international laws.  Any views expressed are provided for informational purposes only and represent only the opinions of this CryptoCoinTalk.com website and should not be construed in any way as an offer, an endorsement, testimony, or inducement to invest.  All cryptocoin launch announcements / information threads are informational threads created to provide information about a new cryptocoin.  In no way do these launch announcements / informational threads denote that CryptoCoinTalk developed the launched cryptocoin.  Download links come without any warranties implied.  Download and use cryptocoin / cryptocurrency software, mining pools, or any listed services at YOUR OWN RISK.


#8 Jimmy

Jimmy

    Cryptoforumologist

  • ADMIN
  • PipPipPipPipPipPip
  • 4,152 posts
  • 1,190 topics
  • LocationPennsylvania, USA

Posted 02 September 2013 - 09:13 AM

Yup looks like it's cgminer and not BFC.  I tried another coin and got the same results.


CryptoCoinTalk.com

Discussing the world of cryptocoins and cryptocurrencies
 
Information posted on CryptoCoinTalk.com doesn't constitute legal or financial advice.  Please consult a licensed trained professional.  CryptoCoinTalk.com does NOT host cryptocoin mining software nor does it create or develop any cryptocoins.  Cryptocointalk.com doesn't endorse any cryptocoins or cryptocoin services.  Please follow all local, state, federal, and international laws.  Any views expressed are provided for informational purposes only and represent only the opinions of this CryptoCoinTalk.com website and should not be construed in any way as an offer, an endorsement, testimony, or inducement to invest.  All cryptocoin launch announcements / information threads are informational threads created to provide information about a new cryptocoin.  In no way do these launch announcements / informational threads denote that CryptoCoinTalk developed the launched cryptocoin.  Download links come without any warranties implied.  Download and use cryptocoin / cryptocurrency software, mining pools, or any listed services at YOUR OWN RISK.


#9 DakotaEllington

DakotaEllington

    Butterflycoin Developer

  • DEVELOPER
  • Pip
  • 20 posts
  • 2 topics

Posted 02 September 2013 - 03:33 PM

Yup looks like it's cgminer and not BFC.  I tried another coin and got the same results.

 
Right now, I'm pool mining with BFGMiner and it's working fine with me. I'm not so sure of the pool I’m mining with though, because they keep miscalculating my balances (which is why I’m hesitant to make a tut on it). I’m going to see if I can get BFGMiner to solo mine, and if that works, then I’ll be making a tut on that.



#10 rusBruin

rusBruin

    New Member

  • MEMBER
  • Pip
  • 5 posts
  • 0 topics
    • Time Online: 9h 6m 35s
  • LocationLA, CA

Posted 02 September 2013 - 08:06 PM

Can you please provide instructions on how to set up and pool mine with BFGMiner? Thank you.



#11 DakotaEllington

DakotaEllington

    Butterflycoin Developer

  • DEVELOPER
  • Pip
  • 20 posts
  • 2 topics

Posted 02 September 2013 - 10:56 PM

Can you please provide instructions on how to set up and pool mine with BFGMiner? Thank you.

Yes, I'll be making a video tut on BFGMiner soon. Just doing some more testing right now



#12 MaxGuevara

MaxGuevara

    Quark Developer

  • DEVELOPER
  • Pip
  • 10 posts
  • 0 topics

Posted 03 September 2013 - 05:50 PM

This coin will produce more than 7 Billion coins. It will produce an infinite amount.
 
You have to change this:
 
// miner's coin base reward based on nBitsint64 GetProofOfWorkReward(int nHeight, int64 nFees, uint256 prevHash){int64 nSubsidy = 30 * COIN; return nSubsidy + nFees;}


#13 Jimmy

Jimmy

    Cryptoforumologist

  • ADMIN
  • PipPipPipPipPipPip
  • 4,152 posts
  • 1,190 topics
  • LocationPennsylvania, USA

Posted 03 September 2013 - 06:00 PM

 

This coin will produce more than 7 Billion coins. It will produce an infinite amount.
 
You have to change this:
 
// miner's coin base reward based on nBitsint64 GetProofOfWorkReward(int nHeight, int64 nFees, uint256 prevHash){int64 nSubsidy = 30 * COIN; return nSubsidy + nFees;}

 

 

I believe this coin's template is based off of Shakezula's Blehcoin.  https://github.com/geocoin/blehcoin

 

I also checked the new CryptoBuck code and it's pretty much the same thing:

// miner's coin base reward based on nBitsint64 GetProofOfWorkReward(int nHeight, int64 nFees, uint256 prevHash){    int64 nSubsidy = 11 * COIN;	if(nHeight < 300)      {        nSubsidy = 1 * COIN;    }	else if(nHeight < 35000)      {        nSubsidy = 33 * COIN;    }    else if(nHeight < 70000)       {        nSubsidy = 22 * COIN;    }    return nSubsidy + nFees;}

So are both of these coins going to produce an infinite amount?  I've never created a coin, just curious.


CryptoCoinTalk.com

Discussing the world of cryptocoins and cryptocurrencies
 
Information posted on CryptoCoinTalk.com doesn't constitute legal or financial advice.  Please consult a licensed trained professional.  CryptoCoinTalk.com does NOT host cryptocoin mining software nor does it create or develop any cryptocoins.  Cryptocointalk.com doesn't endorse any cryptocoins or cryptocoin services.  Please follow all local, state, federal, and international laws.  Any views expressed are provided for informational purposes only and represent only the opinions of this CryptoCoinTalk.com website and should not be construed in any way as an offer, an endorsement, testimony, or inducement to invest.  All cryptocoin launch announcements / information threads are informational threads created to provide information about a new cryptocoin.  In no way do these launch announcements / informational threads denote that CryptoCoinTalk developed the launched cryptocoin.  Download links come without any warranties implied.  Download and use cryptocoin / cryptocurrency software, mining pools, or any listed services at YOUR OWN RISK.


#14 MaxGuevara

MaxGuevara

    Quark Developer

  • DEVELOPER
  • Pip
  • 10 posts
  • 0 topics

Posted 03 September 2013 - 06:12 PM

I believe this coin's template is based off of Shakezula's Blehcoin.  https://github.com/geocoin/blehcoin

 

I also checked the new CryptoBuck code and it's pretty much the same thing:

// miner's coin base reward based on nBitsint64 GetProofOfWorkReward(int nHeight, int64 nFees, uint256 prevHash){    int64 nSubsidy = 11 * COIN;	if(nHeight < 300)      {        nSubsidy = 1 * COIN;    }	else if(nHeight < 35000)      {        nSubsidy = 33 * COIN;    }    else if(nHeight < 70000)       {        nSubsidy = 22 * COIN;    }    return nSubsidy + nFees;}

So are both of these coins going to produce an infinite amount?  I've never created a coin, just curious.

 

Yes.

 

Any coin that doesn't eventually reduce the subsidy to 0 will generate an infinite amount of coin.

 

As is, Butterflycoin will produce about 30 million coins per year, every year.

 

So it will take 233 years to reach 7 Billion. Lots of time to fix the bug :)

 

Or keep it as an experiment in an inflationary coin.

 

The Inflation will be: 100% year 1-2, 33% year 3, 25%, year 4, 20% year 5, .... 5% year 20, ...



#15 DakotaEllington

DakotaEllington

    Butterflycoin Developer

  • DEVELOPER
  • Pip
  • 20 posts
  • 2 topics

Posted 08 September 2013 - 04:19 AM

Yes.
 
Any coin that doesn't eventually reduce the subsidy to 0 will generate an infinite amount of coin.
 
As is, Butterflycoin will produce about 30 million coins per year, every year.
 
So it will take 233 years to reach 7 Billion. Lots of time to fix the bug :)
 
Or keep it as an experiment in an inflationary coin.
 
The Inflation will be: 100% year 1-2, 33% year 3, 25%, year 4, 20% year 5, .... 5% year 20, ...

 
Okay found the cut off. Take a look at main.h 
 
static const int64 MAX_MONEY = 7000000000 * COIN;//7 billion
 
As for BFC PoS it is, 30/90 days at 1%:
 

unsigned int nStakeMinAge = 60 * 60 * 24 * 30; // minimum age for coin age
unsigned int nStakeMaxAge = 60 * 60 * 24 * 90; // stake age of full weight

 
static const int64 MAX_MINT_PROOF_OF_STAKE = 0.01 * MAX_MINT_PROOF_OF_WORK; //1% annual interest
 

Sorry for the confusion of the previous reply, like I said, I'm new to this and this is my first digital coin, lol.
 
I have removed my previous post so not to confuse others :)







Also tagged with one or more of these keywords: butterflycoin, bfc, information, cryptocoin, cryptocurrency, crypto-currency

0 user(s) are reading this topic

0 members, 0 guests, 0 anonymous users