Proof of Stake Explained

Posted on May 5, 2017

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What Type of Algorithm is used in BitcoinPlus - XBC ?

BitcoinPlus is now entirely Proof-ofStake (Pos).

Up until block 400,000 it was a hybrid coin in that Proof-ofWork (PoW) was also an option. The reward for PoW was set at ZERO in BitcoinPlus. It was only added to assist in securing the network if it was ever needed.

PoS Inflation is set at 20%. This means that over the course of 1 year, the total supply of XBC will increase by around 20%. These minted coins are shared equally amongst XBC Wallets. The PoW part of the XBC Network is set to receive 0% of these coins whereas the PoS part of the XBC Network is set to receive 100% of these coins.

What is Proof-of-Work ?

Proof-of-Work happens through miners trying to solve exceptionally difficult math problems. Finding a solution is basically a guessing game,...

Bitcoinplus -XBC Added To Coinomi Android Wallet (Beta)

Posted on Apr 16, 2017

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Coinomi Android Wallet is a Free Secure Source-Available Multi-Coin Multi-Asset HD Wallet for Bitcoin and Altcoins.

https://coinomi.com/

We have partnered with Coinomi who have been working on adding Bitcoinplus to their Software over the last couple of weeks.

Coinomi have now released Version 1.6.9 available in Beta Only. This Version includes Bitcoinplus - XBC

The release version available on the Google Android Play store is Version 1.6.8 so in the next release Bitcoinplus will be pushed to their Release Version.

The Version 1.6.9 is available to download direct from the Coinomi Website at

https://...

Block Size And Transactions Per Second

Posted on Mar 9, 2017

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Edit - 16/11/2018 -This article was written based on an earlier BitcoinPlus Client 2.6.0. The latest BitcoinPlus Client is 2.7.0 which has SegWit included.

Scalability has always been an issue with Bitcoin. The most relevant issue is the block size which is currently limited at 1MB or 1000000 Bytes.

The chart below details the average 1 Week Transaction Size since May 2010. The average BTC Transaction size is around 495 Bytes.

Data is taken from https://tradeblock.com/bitcoin/historical/1w-f-tsize_per_avg-11101

transactionsize.png

So how many BTC transactions will fill a Bitcoin Block ?

This is simply -

Maximum Block Size / Average Transaction Size = Average Transactions Per Block

...

TOR Network And XBC - (BitcoinPlus 2.6.0)

Posted on Feb 21, 2017

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Edit - 11/11/2018 - This article is only relevant for BitcoinPlus 2.6.0 Client. The latest release of 2.7.0 does NOT have TOR built in. You could if you wished still use TOR with XBC client 2.7.0 and that will be covered in a seperate tutorial in the future.

To understand the TOR network we are going to go back to basics. Let's imagine for a second that computers and the internet don't exist and everyone still communicates using written letters.

In this imaginary world, people still like to order things without leaving the house. How could you buy for instance a brand new top of the range Car Shaped Red Pen when you can't be bothered to leave the house.

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If you know the address of where you want to buy the Red Pen you could send them a letter. In that letter you would say that you would very much like to purchase...

How Do I Make a .conf File For My Bitcoinplus Wallet

Posted on Oct 23, 2016

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BitcoinPlus Wallet has numerous nodes hardcoded into the wallet. These nodes are managed by The XBC Project to ensure there are nodes running 24/7. If for whatever reason you are unable to sync your BitcoinPlus Wallet you might want to create a configuration file and add the details that are actually being used at that time.

The file you need to create is called -

bitcoinplus.conf

This is done by using a notepad or a similar Text Editor.

For a current live list of nodes simply visit one of the BitcoinPlus block explorers.

This can be found at - http://block.bitcoinplus.org/network

The nodes you need to add are shown in the address column.

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You will then need to create you configuration file.

1) Open notepad or any text editor. Add a few of the...

How Do I Find The Private Key And Import To New Wallet?

Posted on Oct 23, 2016

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For private keys lets use example address B539KQtetSJRZo3JJLc1XRNEZRzGyVgU2W. So in this case ........

Start your XBC wallet If it is locked just unlock it but uncheck "For staking only" Go to menu Help > Debug window > tab Console In bottom input box type the following line and press enter " dumpprivkey B539KQtetSJRZo3JJLc1XRNEZRzGyVgU2W " Write down code returned on few papers / files / whatever and keep it safe, that is private key for address B539KQtetSJRZo3JJLc1XRNEZRzGyVgU2W Later if your HDD fails again, computer ends up stolen or something like that just use " importprivkey privatekey label "

To import address to some other XBC wallet. Label is name for address that will be imported, it can be anything you want.

Setting up your BitcoinPlus [XBC] wallet for messaging

Posted on Oct 17, 2016

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This article refers to an earlier BitcoinPlus Client 2.6.0. Messaging is not available in the latest BitcoinPlus Client of 2.7.0. This article will be removed once all users have updated to 2.7.0.

In order to start using your new wallets messaging over heightened security features you will need to create a public key. Open your wallet and go to Help>Debug>Console In the box enter the following command: smsgscanchain and wait until wallet returns the response: Scan Chain Completed

Then enter: smsggetpubkey " your receiving XBC address "

Example if your address is : BLo8EAZzVsnGnvrb4i1GnHVv1bSMRemejp then the command would be

smsggetpublickey BLo8EAZzVsnGnvrb4i1GnHVv1bSMRemejp A compressed public key will now...