Cold storage minting proposal

Fantastic! Great work! :slight_smile:

good work mate!
waiting also the gui :slight_smile:

Great job Mike!!! That was a nice present for Xmas :).

I understand what cold minting means, but I am not sure how this affects me as a user of Peerunity as a node. Do I have to update anything?

if cold minting requires coins to be put into an ā€œnon-spendableā€ address, are they locked in that address forever or can you access them anytime?

You can access them at anytime:

Only a wallet having the minting key will be allowed to mint coins sent to this new address. And only a wallet with the spending key will be allowed to send the coins.

Basically you have two private keys. The one that is used to ā€œunlockā€ your wallet for minting is the one that is used for minting. The other one is dedicated for spending your funds.
I gave a more detailed explanation here: Reddit - Dive into anything

From sigmike, commented here: https://github.com/sigmike/peercoin/commit/8df4a0360f3917e042cc0185dc39ed894c9f4148

If youā€™re not minting this wonā€™t affect you as a user, cold minting is also a non-mandatory feature for minters (youā€™ll still be able to mint with the current 0.4 version). Generally speaking, the 0.5 release wonā€™t be a mandatory update (it will).

Peerunity will still be updated as usual to include the latest Peercoin features (as well as bug fixes). So, in any case you should update Peerunity as usual whenever a new version is released.

What is sure for now is that this cold minting feature has not been merged yet to ppcoin. And it will take time to include those changes in the Peerunity client.

Thank you Thireus for answering these questions.

Just one thing:

The 0.5 release will be a mandatory update because there are protocol changes. If someone still runs the 0.4 protocol after the switch he will be isolated from the network because he will reject blocks made with the new features.

The definitive switch time will be planned with the Peerunity team when everything is ready.

[quote=ā€œsigmike, post:188, topic:2336ā€]Thank you Thireus for answering these questions.

Just one thing:

The 0.5 release will be a mandatory update because there are protocol changes. If someone still runs the 0.4 protocol after the switch he will be isolated from the network because he will reject blocks made with the new features.

The definitive switch time will be planned with the Peerunity team when everything is ready.[/quote]

Ah! Thank you sigmike for the clarification! :slight_smile:

SigMike sits, quietly, contemplating the universe, a green Peercoin cap on his head.

SigMike: Letā€™s coordinate the switch time for v0.5.0. When would it be a good time for the Peerunity team?

Ben: The sooner the better, but thatā€™s a good question. Letā€™s ask our principal developerā€¦

Ben turns to SigMike, now wearing a dark grey Peerunity ā€œspec-opsā€ baret. He is writing something on the white board.

SigMike: I suggest this dateā€¦

[quote=ā€œBen, post:190, topic:2336ā€]

SigMike sits, quietly, contemplating the universe, a green Peercoin cap on his head.

SigMike: Letā€™s coordinate the switch time for v0.5.0. When would it be a good time for the Peerunity team?

Ben: The sooner the better, but thatā€™s a good question. Letā€™s ask our principal developerā€¦

Ben turns to SigMike, now wearing a dark grey Peerunity ā€œspec-opsā€ baret. He is writing something on the white board.

SigMike: I suggest this dateā€¦[/quote]
Nice, where to get that whiteboard :wink:

Hehe Ben. We will have this discussion with my 2 selves when/if it gets merged into peercoin develop branch and the few other protocol changes are implemented.

Note that thereā€™s already a significant amount of work on Peerunity to merge the current state of this branch.

this is great news

Huge news. Thank you sigmike! Thatā€™s a big step forward.

Guys, any news here ??? ETA

Any new about?

Itā€™s being reviewed by Sunny.

But it was decided to make an intermediate release prior to this protocol change, so I guess the focus is on that right now.

[quote=ā€œsigmike, post:197, topic:2336ā€]Itā€™s being reviewed by Sunny.

But it was decided to make an intermediate release prior to this protocol change, so I guess the focus is on that right now.[/quote]

Nice, cant wait for release :smiley:

Why doesnā€™t PPC try to link with payment tool like Bitpay

That is offā€topic in this thread; I suggest that you open a new one instead if you are interested in discussing that. Thanks.