IMPROVING ON BTC DECENTRALIZATION - SATOSHI'S MISSING LINK
iBTC is a NEXT generation decentralized based Feature cryptocurrency. The foundation of iBTC network is on BTC code base.
iBTC has been revived and has mined a total of 25 Million iBTC. 16 Million iBTC are for swapping the exchanges and 9 Million iBTC are for future exchange listings and bounties.
iBTC aims to be a more decentralized version of Bitcoin. This is accomplished using Satoshi's Missing Link - VBR Decentralization Algorithm. The Variable Block Reward (VBR) feature is the engine behind promoting more decentralization.
iBTC adds Variable Block Rewards (VBR), a linearly weighted moving average (LWMA) Difficulty Adjustment Algorithm (DAA) to the Bitcoin (BTC) codebase. Adding VBR increases mining decentralization and forms a natural 51%
attack deterrent algorithm. Attackers trying to freeze the blockchain will fail due to the added LWMA3 DAA algorithm.
spacing: 3 min
block size: 1MB
rpc port: 9332
Allows for near-instant transactions. iBTC InstantSend transactions are fully confirmed.
Use iBTC aims to be a more decentralized version of Bitcoin. Vagrant and VirtualBox with Ansible.
This section covers build process on macOS (linux instructions). Gitian provides a way to be reasonably certain that the iBTC executables are really built from the exact source on GitHub and have not been tampered with. It also makes sure that the same, tested dependencies are used and statically built into the executable.
Multiple developers build from source code by following a specific descriptor ("recipe"), cryptographically sign the result, and upload the resulting signature. These results are compared and only if they match is the build is accepted.
Download and install the latest version of GPG Suite from here.
Download and install the latest version of Vagrant from here.
Download and install the latest version of VirtualBox from here.
git clone https://github.com/NullFunctor/iBTC.git
Edit your gitian.yml file:
# URL of repository containing iBTC source code.
# Specific tag or branch you want to build.
# The [email protected] in the e-mail address of your GPG key, alternatively a key ID.
# OPTIONAL set to import your SSH key into the VM. Example: id_rsa, id_ed25519. Assumed to reside in ~/.ssh
Place Apple SDK tarball (MacOSX10.11.sdk.tar.gz) into ibtc-gitian folder for macOS builds.
Start the build with vagrant up --provision IBTC-build.
Then connect to the box with vagrant ssh IBTC-build.
Prepare the container and start building with:
#replace $SIGNER and $VERSION to match your gitian.yml
Commit assertions from the box using git (access token might be needed) or use vagrant scpplugin to transfer data.
iBTC Electrum is a lightweight client for iBTC network. Check with iBTC wiki for more details. The source code is available at @iBTC' GitHub repository.
Download binaries or follow this guide to install iBTC Electrum from source on your system.
ElectrumX is a server-side application for iBTC SPV protocol. The current version requires precise system configuration and is not fully automated for fast deployment. The script below is used for fast and easy setup of electrumx server on working iBTC core node.
To start, input following line:
Finish the configuration by adding your iBTC node's RPC login/pass in DAEMON_URL as user:[email protected]:/
DB_DIRECTORY = /db
# iBTC node RPC credentials
DAEMON_URL = ibtc:[email protected]:9337/
# Listen on all interfaces:
#BANNER_FILE = /etc/electrumx/electrum.banner
#Uncomment the above line if you want to have a banner and create the banner file
Add the ports in the firewall exception:
sudo ufw allow 50001
sudo ufw allow 50002
Starting and stopping electrumx server service electrumx start service electrumx start
Create iBTC address to receive payments
Download the iBTC core, iBTC Electrum or mobile client. Generate a new address to receive payments from the mining operation.
Connect to your SHA256 miner and enter values according to the following sample: