Peercoin at the bitcoin expo conference

General
21

It was a good day for Peercoin. A good level of interest with many investors clearly starting to search for strong altcoins, although many other Bitcoin people seemed to have limited awareness. The banner was great - it gave a presence that no other altcoin had. Mcgin did really well in the altcoin forum, able to get across the PoS idea well and didn’t oversell. The other coins’ speakers focused a bit too much on rising prices and had a harder time motivating their particular coins. For next time, I think it would be good to try to get in on the organisation of any altcoin discussions so that they are a bit more structured and professional (maybe have a moderator). There is a need to be able to argue clearly for the need value of altcoins in general.

A good talk about gender imbalances got us thinking that it would be great to put some positive effort into this. It is clear Peercoin’s green credentials gives it a strong edge to get a broad range of people enthusiastic. The conference itself wasn’t totally male dominated, with a reasonable proportion of the curious newcomers and media being women.

More generally, what I saw of the meeting was pretty mixed in quality, with a lot of waffle. Makes it clear how much development is still to come.

Peercoin representin…

(bigger version: http://imgur.com/DlWxxo9)

22

"The other coins’ speakers focused a bit too much on rising prices and had a harder time motivating their particular coins. "

I’m sorry but this comment is not wholly true.

23

[quote=“Ruthie, post:19, topic:988”]Hey, Its Ruthie :slight_smile: from Feathercoin, just wanted to say it was great to meet one of the members from peercoin yesterday :slight_smile: and I will say he represented really well on the altcoin panel discussion :smiley:

Good work.[/quote]
Hey Ruthie, good to meet you and Chris as well

24

| "The other coins’ speakers focused a bit too much on rising prices and had a harder time motivating their particular coins. "
|
| I’m sorry but this comment is not wholly true.

This was just an opinion, with a Peercoin bias! I thought everyone on the panel did a good job, and made it clear that alternative currencies had a growing place. The discussion about community and trust-building, which Feathercoin does very well, was compelling.

25

Mcgin, are you in that photo?

26

Yep, I’m the good looking one holding the mic :slight_smile:

27

One big step for peerkind. Thank you mcgin, Fuzzy, and Eugen!

28

Did anybody record a video of the Peercoin talk? Somebody on the Facebook page wants to see it if it was recorded.

29

last year they podcasted and youtube all the speakers talks, there was someone filming so we’ll have to see if we can find t on there

Fuzzybear

30

Hi Everyone,
This thread may be a bit defunct at this point but I said I would just reply. It was great to meet the Peercoin guys and just to clear things up Multisignature transactions work on Primecoin and Peercoin (still some live testing on Linux to go for PPC) . It is just a case of correct manipulation of Raw transactions and some other RPC black arts. Well anyway we are working hard on integrating the multisig for Bitcoin and Litecoin and we are thinking of swapping out Primecoin for Peercoin, reasons: higher market cap and a bit more interest in Peercoin, I love proof of stake functionality and it’s environmentally friendly. We will keep you updated on progress and developments, should take a few weeks for full implementation and testing. For latest news you can catch us on twitter @cryptoauction.

Best Regards,
Daryl

31

Just realised that my last comment may have been unclear Bitcoin, Litecoin and Primecoin are all multisignature transaction capable out of the box so everything needed is already there. I am pretty sure just from an initial look at Peercoin that this is the case also. We are just rewriting the site’s code to accomodate the multisig approach at the moment but all of our multisignature transaction tests with Bitcoin, Litecoin and Primecoin daemons have been successful.

Daryl

32

I’m not really into the whole technical stuff behind the PPC, but I would like to know what this means. In other words, how would you explain this to a 10 year old? ::)[/quote]

Good explanation here What are multi-signature transactions? - Bitcoin Stack Exchange

I agree too.

33

Hi guys, just to let you know we are going ahead and adding Peercoin to Cryptoauction with full multisignature support (provided we don’t run into any road blocks, we don;t anticipate any) just thought I would let you know. McGin has my email if you need to contact me for any reason.
Daryl (Cryptoauction)

34

That’s awesome to hear, thanks for the heads up!

35

Hi Ben
Yes multisignature transactions were actually fine when we got working with them, all our intial tests worked. Essentially all that was required was using the the multisig addresses, raw transaction commands and some innovative scripts. Raw transactions can get messy and it requires familiarity with the inner workings of bitcoin-like clients but other than that there is no need to alter the existing Peercoin client daemon as required support for multisignature is all already there. We made the decision to implement Peercoin but we may have to substitute it for Primecoin, the reason being that we can generate offline Peercoin addresses using either php or java scripts for Bitcoin, Litecoin and Peercoin (and we need these to construct the multisig addresses) but we have not found a script for Primecoin. If anyone has one maybe we can keep Primecoin too. We don’t want to over extend though so maybe just the big three to start with.

As I mentioned it will take a while to refit our system as we are doing other security upgrades too such as two factor authentication of user accounts and upgrading password storage with AES, etc. I will give any updates via twitter.
Thanks for the interest in Cryptoauction from the Peercoin community.
Daryl

36

Sorry that last comment was as clear as mud let me rephrase

We made the decision to implement Peercoin but we may have to use Peercoin in place of Primecoin, the reason being that we can generate offline Peercoin addressesusing either php or java scripts and we can do this for Bitcoin and Litecoin also of course ( i.e. we’re not using the daemon and therefore not adding the keys to the wallet.dat file in the process, we need these offline addresses to construct the multisig addresses) but we have not found a script for generating offline Primecoin addresses. If anyone has one maybe we can keep Primecoin too. We don’t want to over extend though so maybe just the big three XBT, LTC and PPC to start with.

D

37

[quote=“Cryptoauction, post:35, topic:988”]Hi Ben
Yes multisignature transactions were actually fine when we got working with them, all our intial tests worked. Essentially all that was required was using the the multisig addresses, raw transaction commands and some innovative scripts. Raw transactions can get messy and it requires familiarity with the inner workings of bitcoin-like clients but other than that there is no need to alter the existing Peercoin client daemon as required support for multisignature is all already there. We made the decision to implement Peercoin but we may have to substitute it for Primecoin, the reason being that we can generate offline Peercoin addresses using either php or java scripts for Bitcoin, Litecoin and Peercoin (and we need these to construct the multisig addresses) but we have not found a script for Primecoin. If anyone has one maybe we can keep Primecoin too. We don’t want to over extend though so maybe just the big three to start with.

As I mentioned it will take a while to refit our system as we are doing other security upgrades too such as two factor authentication of user accounts and upgrading password storage with AES, etc. I will give any updates via twitter.
Thanks for the interest in Cryptoauction from the Peercoin community.
Daryl[/quote]
Hey Daryl,

Sorry only just picked this thread back up, yes was great to meet you at the conference in london… seems so long ago now :frowning: but sounds like you have been very busy with the Peercoin and the multisig transactions… just wanted to add my approval and congratulations on bringing peercoin integration to your site, well done :slight_smile: shame it is at the cost of primecoin but hopefully someone will be able to help with the primecoin script, but I get the feeling that primecoin may need to make a few advancements yet for it to attract the devs and not as you say over stretch the merchants.

Anyways gtz again and great to see you here :slight_smile:

Fuzzybear

38

Hi Fuzzybear,

Thank you. It does seem like a while back and it was only on the 30th :slight_smile:

“shame it is at the cost of primecoin but hopefully someone will be able to help with the primecoin script”

Yes indeed but the issue is just with the address generation for XPM and not a problem with the actual multisignature system

See one of our tests transactions for example…

To multisig address
a44a315cdd39695f96f14db0eda40f5dc334ea64997f068da39ddb690336bce7

From multisig address
29d057550027953f79c138b7cba4c032cf06a1e729c77935271a357e1a6b69f3

XPM Blockexplorer
http://primecoin.21stcenturymoneytalk.org/

The issue is just with generating the offline addresses in order to create a multisig address (i.e. not using the primecoind daemon for address generation so the priv keys don’t get included in the wallet) so like I said if anyone has a good offline XPM address script please share if you wish :slight_smile:
We will keep XPM as our 4th in line either way. I do think that PPC is better to run with first.
If you ever need to reach me admin@cryptoauction.com
D

39

@Cryptoauction
Hi, same script applies to all bitcoin based networks (? correct ?)
Please take a look at https://blockchain.info/tx/60a20bd93aa49ab4b28d514ec10b06e1829ce6818ec06cd3aabd013ebcdc4bb1, first output script

OP_1 04cc71eb30d653c0c3163990c47b976f3fb3f37cccdcbedb169a1dfef58bbfbfaff7d8a473e7e2e6d317b87bafe8bde97e3cf8f065dec022b51d11fcdd0d348ac4 0461cbdcc5409fb4b4d42b51d33381354d80e550078cb532a34bfa2fcfdeb7d76519aecc62770f5b0e4ef8551946d8a540911abe3e7854a26f39f58b25c15342af OP_2 OP_CHECKMULTISIG

Script is :

NUM_OF_REQUIRED_SIGNATURES | PUBKEY_A [PUBKEY_B, ...] | NUM_OF_PUBKEYS | OP_CHECKMULTISIG

Pubkey format is same for all networks- you can make valid XPM transaction with output script copied from BTC example(but of course you won’t be able to redeem it as you don’t have appropriate privkeys)
Byte representation of script for 2-of-3 multisig:

0x52 : 2 signatures (0x50 + number of required signatures) 0x21 : length of PUBKEY_A (here 33), 33 for compressed form, 65 for uncompressed PUBKEY_A_BYTES 0x21 PUBKEY_B_BYTES 0x21 PUBKEY_C_BYTES 0x53 : 3 pubkeys (0x50 + number of pubkeys) 0xAE : OP_CHECKMULTISIG
Please PM if you need any further help.

40

@Kactech

Hi , we actually figured it out. Multisignature works fine on Primecoin and is redeemable. We can produce all required keys and have managed to do sucessful multisignature transactions with Primecoin.

The issue with Primecoin was just the generation of keypairs without them being added to the wallet. “getnewaddress” puts the priv keys in the wallet as you know, this obviously defeats the purpose BUT primecoin has a useful RPC “makekeypair” which from our analysis doesn’t record the keys anywhere (correct me if I am wrong) and just returns them (JSON) and serves our purpose. So multisignature transactions on Primecoin are do-able using “makekeypair” to provide the component addresses.

as I mentioned in the last comment

Here is one of our test transactions
To multisig address
a44a315cdd39695f96f14db0eda40f5dc334ea64997f068da39ddb690336bce7

From multisig address
29d057550027953f79c138b7cba4c032cf06a1e729c77935271a357e1a6b69f3

XPM Blockexplorer
http://primecoin.21stcenturymoneytalk.org/

Peercoin’s issue is that the relevant RPC commands don’t seem to be accessible on the current client. I’ve mentioned this to McGin. I should have posted that here actually so that Fuzzybear could see also. I know that the code is available but it would be good for an official release to make the raw transaction RPCs that Primecoin has accessible

such as

addmultisigaddress <’[“key”,“key”]’> [account]
createmultisig <’[“key”,“key”]’>
createrawtransaction [{“txid”:txid,“vout”:n},…] {address:amount,…}
getrawtransaction [verbose=0]
signrawtransaction [{“txid”:txid,“vout”:n,“scriptPubKey”:hex,“redeemScript”:hex},…]
sendrawtransaction

If these were in place in Peercoin then multisignature transactions could be redeemed easily.

Unfortunately until they are activated we, Cryptoauction, must proceed with Primecoin only.
We will support Peercoin as soon as these commands are included in the official client.