From PM-Tech to Miners

Hello fellow miners,

Some of you might have experienced some issues recently showing "bad pool luck" and connectivity issues. I have to report that most of them have been caused by myself because I was helping a valued member of our community to set up his EMC2 pool and there for having my devices dropping in and out frequently so some attack prevention kicked in. 
After recognising this I have of course stopped that behaviour and took the opportunity to add another step of security by adding more designated and isolated mining nodes to the server which are talking to the outside world via main and backup gateway wallets.

SSL Certificate expired today as well, it is renewed by the time of this writing.

Another VERY IMPORTANT thing needs to be published as well:

Early this week our official new wallet has gone public. It contains crucial security updates as well as new features. In order to get those activated, we need strong support from all miners. Not all pools are supporting those updates yet, the first one supporting was ours followed by Hash2Coins and the CWI pool. We are waiting for Suprnova and some unidentified miners now.
If you are mining SOLO or on any other pool, please kindly make sure to use the new wallet code. For pools this can be verified by checking a mined block on the blockchain explorer. If the block version is 2, the pool is using old code and there for preventing the security updates.

So long Happy Mining,
Michael

 

Maxeler, Solely Local Networks, Belgrade Stock Exchange, Energy Sector


Happy Friday everyone!

As a recap for the past week, and to keep the community up to date on our progress, we are continuing to address the Bittrex warning issue with a resolution imminent

Also, as I previously mentioned, this weekend we meet with Mike (PM-Tech) who is making the 8 hour drive into Belgrade from Austria.  We are grateful that Mike is making this effort and are looking forward to resolving our differences in a civilised and expeditious manner to the benefit of the community

In parallel, the Foundation continues to pursue its business development agenda, which is beginning to bear fruit

During our visit to Belgrade we will also be meeting with Maxeler (https://www.maxeler.com/products/), introduced to us by our host there, Dusan Milutinovic.  Dusan served for 5 years as CFO of Hemofarm, a pharmaceutical company with $250M in revenue and 2,484 employees

The meeting will serve to explore Maxeler’s computing technology solutions for a possible fit in scaling our network’s mining capacity.  Should everything go according to plan it should come as no surprise if in a year hashpower has increased a 100-fold.  Should interest prove mutual, as Maxeler has indicated interest in becoming involved in the crypto markets, I will fly in August to London, along with Alex (Varvarin), Dusan and Veljko Milutinovic, to meet with the company

Addtionally, a meeting with Pedja Andrijasevic, CTO and co-owner of Solely Local Networks Inc (http://solelylocal.com/), has been set up.  A Canadian company currently estimated at $110M, Solely is currently preparing for a public offering in September.  Pedja and I met last month and he is very interested in Einsteinium, particularly with regards to a big loyalty programme Solely is about to release

A meeting with the Belgrade Stock Exchange has also been set.  The exchange has taken an active trading position in Einsteinium and will likely become a channel for institutional funds into the coin in the mid term

Finally, a deal is currently being brokered with a payment scheduling provider to support EMC2.  The vendor’s application supports the development of arbitrarily complex payment workflows and will be transformed into an Einsteinium super-wallet, a first-of-breed product.  The proposal also includes negotiations with a company currently making retail bitcoin sales via credit cards.  Combined, the solution will represent a significant on-ramp for Einsteinium ownership in the public sector.  This will likely be the first project I recommend for our crowdfunding platform and it is so important that I’m currently exploring options to launch the software even before the platform is ready.  The software has been in development for 3 years and is almost ready

We are also meeting with people from the energy business - a group of small power plant owners. It should be obvious that access to cheap or zero-cost energy is important to us

Accompanying us will be Danielle Sremac, Vlada (Mr.Enigmatic) and a few other members from the marketing side.
Varvarin is coming here next week, and I will be very happy to see him too

All the best,

Malden Trifunovic

Resolving Bittrex issue

Bittrex users may notice the warning ”EMC2 blockchain experienced a double spend attack. We are working with the development team on a fix.”

The issue concerns the case of a block that reversed a transaction.  No funds were lost and the originator of the transaction simply had his/her funds returned to them, but the transaction was orphaned.  The optimal solution is currently under debate but seems to be the increase of hashing power on the the network (Bittrex representatives concur with this approach).  

The Einsteinium Foundation and all relevant members in the community are committed to ensuring the safety of the network and its operations and are intensifying efforts to increase hashpower.  Additionally, discussions are ongoing in terms of the future growth of the coin, particularly with respect to the requisite increases in hashpower as the price rises and financial incentives grows to attack the network.

If you would like further details on the issue, please feel free to join our Slack.

Full update #2

Qt-Wallets:
Emc2 coin got new wallets for both Mac and Windows.
New version 0.9.1.0 syncs immediately after install and 0.9.2.0 implement test net.
The significance of this build is that it is the first build made in 3 years, and also the first build released by the new development team.
emc2-qt-wallet code has not changed since May 2014, but operating systems have, so  what seemed to be an easy and straight forward task of a few days turned into 4 weeks or more of hard working job.
The team had to go through the effort of not just adapting and building development and test environments but also diving deep into the code. Going forward next releases will be far easier.

In addition to wallets we also manage to create a new test net.
With wallets out, test net and 35 nodes, we can say we have accomplished the second step in our road map which is taking care of the infrastructure.

Of course this is ongoing process, the core team will continue with improvements.
We plan to make:

Qt wallets v0.9.2.1 – new looking filed ~ in 3 weeks
Qt wallets v0.13.3.0 – alignment with ltc core libraries ~ in 5-6 weeks

Releases after that will include more features as well as security improvements.
 

Web wallet, API, mobile wallets:
The next stop on our roadmap is: web wallet, api, and mobile wallets
Mobile wallets are ready, but they rely on web wallet and API which is one big package.
Since web development had to help infrastructure a little bit, we need to update our target release date and set expectations for the end of June.


Emc2 Store: 4you.emc2.foundation
Backend of emc2 Magento store is ready. SyncItGroup assigned two designers to take care of the front end.
They are waiting on emc2 web wallet and API to implement emc2 coin as a payment method.
We are thinking of releasing dev url this week to Slak users for testing, and to have production release in the first week of June. This release would only have fiat payments.
SyncItGroup will finish Magento plug-in before emc2 API for sure, so as soon as our web wallet is ready a store will get emc2 payment option. But even without coin integration it is good for the store to be online for review and testing.

Crowdfunding: emc2me.io
Last time we posted report we were still in negotiation process. Now developers are chosen, the budget is ready. Milos is finalizing specification.
We will have kick of meeting with devs on Friday. In next two weeks I will loop with our marketing experts and all other members willing to take part and to push this important platform to the surface.


Business development:

Voxtel – We held the meeting with Voxtel on April 28th. The fact that it was 4 hour long tells enough. First meetings are always risky bit this one was with great synergy. They are willing to move into blockchain. Now what would be next is for us to review all their products and to help them implement the coin for products that are good match.  For others that are not we are thinking of releasing new coin for Voxtel as side chain to emc2.  Emc2 coin will benefit from fees. Important: this is not quick approach, but since Voxtel is established and well connected business it is important that we keep moving along. You will feel the results.

Other: Every day we get interesting leads via our web site and LinkedIn. We are talking to two more business to form a common project that would consume emc2 coin, and maybe even launch ICO if needed. Very interesting stuff.
Let me have a clear picture and the view, and I will share it with you.

Blog:
Check some interesting articles:

WHO MISSED BITCOIN AND WANTS TO START OVER AGAIN?
OF BUBBLES AND METAPHORS
BTC AD ASTRA

what do you think?

We will inform wider crypto audience with what is going on with einsteinium via newsletters during the week.

Electrum Servers, Web Wallet, Magento Plug In, Mobile Payments

EMC2News04

Here's the update on what's happening to EMC2

-As our Electrum servers are up and running, thanks to Coinomi team, we started development of our Web Wallet. Along with Web Wallet, API will come in the same release as endpoint to our custom mobile wallets and various plugins. Magento plug in comes first.

- Syncitgroup started working on Magento plug-in and Einsteinium Store. 

- Einsteinium Foundation formed a core team (c++ developer + system admins) to make our wallet code up to date (for new members: that this project started back in 2014... )

- Bluelab started working on designing our crowdfunding platform, and subcontractors negotiation.

- voxtel.com (Bluelab partner form Montreal) got interested in emc2 coin. They took initiative and now are in touch with djnocide, exploring oportunities for two platforms to integrate.