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FEATHERCOIN COMPLETE DD

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GOLDBUFFALO   Saturday, 06/12/21 09:11:20 PM
Re: GOLDBUFFALO post# 6
Post # of 15 
FEATHERCOIN COMPLETE DD

$FTC is traded on Bittrex in the USA

Since NFTs are now in the latest omnifeather release (active on block 3,624,000 around the 12th of april), an update of the Feathercoin details has been published here

https://forum.feathercoin.com/topic/9390/what-feathercoin-offers-with-links-and-explanations

See a recap here below:

Feathercoin Under the Hood (how it operates)

NeoScrypt Algorithm - This is the algorithm used in solving a block (aka mining) and is then instrumental in moving from one set of currency transactions in the block chain to the next. A white paper is available at http://phoenixcoin.org/archive/neoscrypt_v1.pdf - and the implementation is at https://github.com/ghostlander/NeoScrypt

Current Generation ASIC resistance - The NeoScrypt algorithm is designed to use enough resources, in this case memory, such that current ASICs cannot mine Feathercoin. ASICs are a dedicated circuit board to just mine coins. Creating a dedicated circuit board to mine feathercoin would take considerable investment. For a little more detail at http://forum.feathercoin.com/topic/2156/why-ftc-is-asic-resistent-for-beginners-requesting-feedback

Advanced Checkpointing - This is a method used to prevent network attacks on the currency. Details are provided at http://forum.feathercoin.com/topic/2709/advanced-checkpointing-released there is also more information in the feathercoin wallet guide https://wrapperband.github.io/FeathercoinWalletGuide/#advanced-checkpointing-acp

336,000,000 Total Coins - Eventually there will be 336 million coins in circulation. This will be pretty close to done around the year 2121 (see schedule below)

1 minute target block time - This is the average amount of time it takes for a block to be mined and transactions to appear in your wallet. The software constantly adjusts the mining difficulty to keep this time consistent as mining intensity varies. Look here for a deeper explanation of block time https://steemit.com/bitcoin/@ghayas/what-does-block-time-mean-in-cryptocurrency

enhanced Hash Rate Compensation - This is a method of adjusting the difficulty of the calculation the miners must do to find a block. Difficulty is adjusted based on the speed the blocks are being found on the network and should increase as the hash power of the miners increases. eHRC uses the time it took the last 15, 120 and 480 blocks to be solved and calculates (re-targets) the difficulty after every block using that data. Difficulty in general is explained at https://en.bitcoin.it/wiki/Difficulty a full write up on the details of eHRC can be found in the feathercoin wallet guide at https://wrapperband.github.io/FeathercoinWalletGuide/#enhanced-hash-rate-compensation-ehrc

40 coins per block (currently) - Each feathercoin block that is mined pays the miner 40 feathercoins. Every 4 years the amount paid is cut in half. (see schedule below) details at http://forum.feathercoin.com/topic/6847/block-reward-adjustment

Block halving every 2,100,000 blocks - As more and more of the feathercoin currency gets in circulation the payout of the solving a block (ie mining) is decreased. 21 million blocks is a few days short of 4 years. The intent is that miners get paid for the work in both transaction fees and from the network putting currency in circulation. As time progresses and the distribution of the source currency dries up the transaction fees become the main source of income for miners. Details on the concept can be found here https://academy.binance.com/en/glossary/halving

OmniLayer functionality - OmniFeather has been released https://github.com/OmniLayer/omnicore/releases which adds OmniLayer functionality to the Feathercoin blockchain. This allows for the creation of additional assets on the Feathercoin blockchain other than the native feathercoin. Assets can be either managed or have a fixed supply, can be introduced via crowdsale and exchanged via a decentralised exchange built into the OmniFeather protocol.

Default Feathercoin network port is 9336 - The whole Feathecoin cryptocurrency network for sending coins around and exchanging blocks runs on this port. You can retrieve the peer to peer information on various sites like this one https://www.coinexchange.io/network/peers/FTC

Default RPC mining port is 9337 - This is the port that is used by mining software to communicate via Remote procedure call (rpc) to a server when doing mining. Checkout the solo mining thread for an example of its use http://forum.feathercoin.com/topic/9058/guide-solo-mining-for-feathercoin-and-neoscrypt


What features are available


Comments - Comments can be added to transactions. The technical details for reading them are available here http://forum.feathercoin.com/topic/8640/faq-how-to-read-comments-from-the-feathercoin-blockchain further information about comments can be found here in the feathercoin wallet guide https://wrapperband.github.io/FeathercoinWalletGuide/#comments-in-the-feathercoin-blockchain

Coin control - The coin control feature allows you to control how you spend the coins in your wallet when sending a transaction. You can choose what addresses will be the ones sending the coins and which of the coins you have received will be used. The wallet interface details for this can be found here https://wrapperband.github.io/FeathercoinWalletGuide/#options-menu---wallet-tab

Setting up a wallet

download the software - To use feathercoin you just need software to handle receiving coins to a generated address (created by the wallet) . The same software allows you then send the coins to another address. Links are on the main page of the site at https://www.feathercoin.com/ or from github at https://github.com/FeatherCoin/Feathercoin/releases/
Setting up a server to do e-commerce and feathercoin block chain actions

Feathercoin rest API - the feathercoin.com site has rest APIs available for full documentation see https://www.feathercoin.com/feathercoin-api/

Payment Gateway Software from gourl.io - Their site has a number of live samples and code examples on how to do commerce with their payment gateway software. Many currencies including feathercoin are supported. They have code in php and .net available (they even have a nuget package). Their site is at https://gourl.io/ and a 3rd party forum discussing them can be found at https://bitcointalk.org/index.php?topic=1043437.0

Implementing your own - If you are going to start from scratch the best place to get example code for technical reference is from the feathercoin wallet software. The code is in C++ https://github.com/FeatherCoin/Feathercoin . You can ask for further assistance in the technical development forum area https://forum.feathercoin.com/category/71/technical-development

OmniFeather


What is the Omni Layer - The Omni Layer is a communications protocol that uses the Feathercoin block chain to enable Smart Properties (tokens) and a Decentralized Exchange. A common analogy that is used to describe the relation of the Omni Layer to Feathercoin is that of HTTP to TCP/IP: HTTP, like the Omni Layer, is the application layer to the more fundamental transport and internet layer of TCP/IP, like Feathercoin.

What is OmniFeather - OmniFeather is a fast, portable Omni Layer implementation that is based off the Feathercoin codebase. This implementation requires no external dependencies extraneous to Feathercoin, and is native to the Feathercoin network just like other Feathercoin nodes. It currently supports a wallet mode and is seamlessly available on three platforms: Windows, Linux and MacOS. Omni Layer extensions are exposed via the JSON-RPC interface. Development has been consolidated on the OmniFeather product, and it is the reference client for the Omni Layer.

Compatibility with Feathercoin - OmniFeather is based on Feathercoin 0.18.4 and can be used as replacement for Feathercoin. Switching between Omni Core and Feathercoin may be supported. However, it is not advised to upgrade or downgrade to versions other than Feathercoin 0.18.4. When switching to OmniFeather , it may be necessary to reprocess Omni Layer transactions.

NFTs in OmniFeather - NFTs are non-fungible tokens. They act as a non-duplicable digital certificate of ownership for any assigned digital asset. Once the code is written, it is then minted, or permanently published, into a token on a blockchain. Once the NFT is purchased, the owner has the digital rights to resell, distribute or license the digital asset as they please. see https://digiday.com/media/wtf-is-an-nft/ for more info

NFT - Availability - Non-Fungible Tokens are not active on mainnet until block 3,624,000, this is roughly four weeks ahead of launch and should be sometime around 12 April. This feature is already live on testnet and can be tested there in preparation for mainnet launch.

Omnifeather on github - The project is located at https://github.com/OmniLayer/omnifeather

Download the software - The releases are available for download at https://github.com/OmniLayer/omnifeather/releases


Additional Resources


OmniFeather Support - If you have any questions or problems with OmniFeather please raise a GitHub issue, send an email or post questions on Telegram linked below.

GitHub - https://github.com/FeatherCoin/Feathercoin/issuesTelegram - https://t.me/FeathercoinOfficialEmail - admin@feathercoin.com

Telegram - https://t.me/FeathercoinOfficial in recent years the telegram group chat has been the go to place to talk to others active in the feathercoin community.

Discord - https://discord.com/channels/375269855160565762/382242792518451201

Reddit - https://www.reddit.com/r/FeatherCOin/ A subreddit to talk about everything Feathercoin related

Twitter - https://twitter.com/Feathercoin

Bitcointalk.org’s thread on feathercoin - This is a 3rd party site dedicated to crypto currency. this is the feathercoin thread in their forums https://bitcointalk.org/index.php?topic=178286.0

Block Explorer: - https://fsight.chain.tips/

API - https://www.feathercoin.com/feathercoin-api/

Mining Statistics - https://www.feathercoin.com/netstats/

Mining Calculator (CoinWarz) - https://www.coinwarz.com/calculators/feathercoin-mining-calculator

Newsletter Archive -https://www.feathercoin.com/category/newsletter/

FAQ - http://forum.feathercoin.com/topic/8523/faq-new-forum-member-most-asked-questions-try-here-first
Feathercoin wallet guide - https://wrapperband.github.io/FeathercoinWalletGuide


Halving Schedule


Halving Date - Block Count - Coins Mined - New Block Payout

2017-07-10 - 1793040 - 168000000 - 40

2021-11-03 - 3893040 - 252000000 - 20

2026-02-27 - 5993040 - 294000000 - 10

2030-06-24 - 8093040 - 315000000 - 5

2034-10-18 - 10193040 - 325500000 - 2.5

2039-02-12 - 12293040 - 330750016 - 1.25

2043-06-08 - 14393040 - 333375008 - 0.625

2047-10-02 - 16493040 - 334687520 - 0.3125

2052-01-27 - 18593040 - 335343776 - 0.15625

2056-05-22 - 20693040 - 335671904 - 0.078125

2060-09-16 - 22793040 - 335835968 - 0.0390625

2065-01-10 - 24893040 - 335917984 - 0.01953125

2069-05-07 - 26993040 - 335959008 - 0.009765625

2073-08-31 - 29093040 - 335979520 - 0.004882813

2077-12-25 - 31193040 - 335989760 - 0.002441406

2082-04-21 - 33293040 - 335994880 - 0.001220703

2086-08-15 - 35393040 - 335997440 - 0.0006103516

2090-12-10 - 37493040 - 335998720 - 0.0003051758

2095-04-05 - 39593040 - 335999360 - 0.0001525879

Halving dates are a best guess and will need to be recalculated from time to time as the block times vary slightly. They are targeted at 1 minute per block but the average tends to run a few seconds more over time. It is possible for this to go lower than 1 minute as well as chance plays a factor.

These dates were calculate on feb 9th 2021 using 64.9 seconds per block which was a the block time average from that date back to the previous halving date. Ideally you would just look at block counts. the July 2017 block was 1793040 and every 2100000 after that it will be cut in half.


Legacy features


These are only available in Feathercoin-qt version 0.9.6.2.

Paper Wallet - A paper wallet is a document that contains copies of the public and private keys that make up a wallet. Often it will have QR codes, so that you can quickly scan them and add the keys into a software wallet to make a transaction. The feathercoin wallet provides an interface for you to get hold of the necessary keys to create one details are here https://wrapperband.github.io/FeathercoinWalletGuide/#paper-wallet-menu as well as here http://forum.feathercoin.com/topic/8650/faq-how-can-i-generate-a-feathercoin-paper-wallet-online an online tool for creating the actual paper wallet can be found here https://walletgenerator.net/?currency=Feathercoin

Stealth Addresses - Stealth Addresses are used to keep wallet to wallet transfers hidden from others despite being in a publicly available block chain. Details are available here http://forum.feathercoin.com/topic/8609/faq-feathercoin-wallet-advanced-feature-stealth-addresses the feature can be found here in the feathercoin wallet guide https://wrapperband.github.io/FeathercoinWalletGuide/#stealth-addresses

Multi Signature Address - A multi-sig address is a special kind of public key address. it has more than one private key. This means that you can create an address which no individual person can spend money from, but which instead requires every signer to agree before a payment can be made. details on using it can be found here http://forum.feathercoin.com/topic/7870/guide-how-to-use-feathercoins-multi-signature-address-page the feature can be found here in the feathercoin wallet guide https://wrapperband.github.io/FeathercoinWalletGuide/#multisig-button


Do your own DD, my posts are highly opinionated. If you do not agree with my posts, feel free to block me. I am not an investment professional nor do I give investing advice. You alone are responsible for your investments
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