t-coin logo v0.6.1.8

The 1st TxC is born at

UTC 06-06-2014 06:06:06

Age shall not weary you, nor the years condemn.

Specifications

Txcoin is a P2P Crypto Currency with a hybrid proof of work(PoW) system. Txcoin supports two hashing algorithm: SHA256 and SCRYPT. Each algorithm has its seperate difficulty, both targetting 2 minutes. Txcoin can be merged mined with either sha256 or scrypt based altercoins.

Block time: 2 minute Halving: every 500000 blocks
Difficulty retarget: every 720 block Total supply: 100 million
Block reward: 1000~25TxC    
Special features
  • Arbitrary message
  • Allow associate extra data with a transaction that is secured by the blockchain.
  • You can make a message delivery with transaction.
  • See Txcoin transaction message
  • Decentralized advertisement

We introduce a decentralized advertising system in Txcoin. The Txcoin-QT will show top ads along with their paid transaction fee and confirmations.

Source code

Txcoin wallet
Txcoin 2014-06-06 updated: https://github.com/Txcoin/Txcoin-master

Mining

Txcoin uses sha256 as default algorithm for mining, you need to change to scrypt for your scrypt miners by adding "miningalgo=scrypt" in "txcoin.conf":

rpcuser=username
rpcpassword=password
rpcallowip=127.0.0.1
rpcallowip=192.168.0.*
server=1
port=7333
rpcport=7332
miningalgo=scrypt

How to mine Transaction coin
We have several official pool merged mining with SHA256 or Scrypt forked altercoins: http://sha256.transactioncoinmining.com Txcoin and Bitcoin merged mining pool http://scrypt.txcpool.com Txcoin and Dogecoin merged mining pool If you want to setup your own merged mining pool ,please contact me for source code support.

Visit one of our official pools such as http://sha256.transactioncoinmining.com to rigister an account.
Login and setup your account Download Txcoin wallet client from http://www.transactioncoin.org, copy a new Txcoin address from 'Receive' page as TXC payment address.
  • Download Txcoin wallet client from http://www.transactioncoin.org, copy a new Txcoin address from 'Receive' page as TXC payment address.
  • Get your Bitcoin wallet address from either BTC client or blockchain.info account as your BTC payment address in the TXC mining setup page .
  • Login the pool page and setup your mining account.


  • Create workers

Setup ASIC mining rig parameters
  • Set pool url with "stratum+tcp://sha256.transactioncoinmining.com:3333"
  • Set pool account with "Weblogin" and Worker as you have registered on step 2, for example: Wilson.001
  • Set password with 123
Notes:The difficulty of TXC network have been dramatically increasing, therefore only ASIC mining rigs are recomended.

You can also install P2Pool server for merged mining Txcoin and Bitcoin, or Txcoin and Dogecoin, Litecoin (Ubuntu Linux 12.04 - 64 bits server needed):

Step 1: Install all packages needed to use P2Pool

sudo aptitude install screen git python-rrdtool python-pygame python-scipy python-twisted python-twisted-web python-imaging

Step 2: Configuring and starting Bitcoin server
Edit the file ~/.bitcoin/bitcoin.conf, it must contain:

server=1
daemon=1
rpcuser=bitcoinrpc
rpcpassword=SupperPass123456andServerEASDFGHTYUHHH

To start Bitcoin server, type:

bitcoind

Step 3: Configuring and starting Txcoin server Edit the file ~/.txcoin/txcoin.conf, it must contain:

server=1
daemon=1
rpcuser=txcoinrpc
rpcpassword=TxcPass123456GHTFDSafsretyujfhjUUGDSG

To start Bitcoin server, type:

txcoind

Step 4: Start P2Pool for Bitcoin and Txcoin with Merged Mining enabled

screen -d -m -S multip2pool ~/p2pool/run_p2pool.py --give-author 0 bitcoinrpc SupperPass123456andServerEASDFGHTYUHHH --merged http:// txcoinrpc:TxcPass123456GHTFDSafsretyujfhjUUGDSG@127.0.0.1:7332/

Step 5: Setup ASIC mining rig
  • Set pool url with "http://IP_P2POOL_SERVER:9332", replace IP_P2POOL_SERVER with your server IP.
  • Set pool account with "YOUR_BTC_WALLET_ADDRESS/1000+N",replace YOUR_BTC_WALLET_ADDRESS with your BTC address, N with your mining rig rate.
How does merged mining work?

Merged mining allows you to mine for Txcoin and another coin like Bitcoin at the same time. The benefit is that you don't need to move your hashing power to Txcoin, instead, you're earning extra Txcoin while not affecting your mining. This is feasible because Txcoin accepts a certain format of PoW which can prove you've done incredible amount of hashes on another blockchain. You can do merged mining with Txcoin and SHA256 or SCRYPT forked altercoins.

Exchange

We won't sell the coins from genesis block. You can check the transactions from the address in genesis block on block explorer.

Full support of MultiSig address

Multi-signature address is an address that is associated with more than one private key. Multisig have lots of uses, wallet sharing, increased security and escrow. Further readings: Multisig, The Future of Bitcoin.

How to use MultiSig?

Create Multisig Address

  1. To create a m-of-n multisig address, we need n public keys. You can easily get public key with respect to your address. For example, to create a 2-of-2 multisig address, you can get one public key from John's wallet address (yourself), and another form Jason's wallet address.
  2. Now we can create our multisig address
    Click "New MultiSig" and fill in each public keys from step 1.
  3. You can find the newly created multisig address on "Addresses" and export this multisig address to your partner (a .fma file e.g. multitest.fma)
    You must send the .fma file to your partner.
  4. Jason imports the .fma file and create the same multisig address

Send to multisig address

Send to multisig address is identical to your normal transaction, just provide your multisig address as recipient.

Spend from multisig address

Here we'll describe how John and Jason spend Txcoin from their 2-of-2 multisig address. This transaction needs to be signed with two private keys, one is hold by John, the other by Jason.

  1. And now John and Jason can review their balance of their multisig addresses.
  2. John starts creating transaction from the 2-of-2 multisig address.They each has a private key of that address in their wallet.
  3. John signs the transaction with his private key, and export the raw transaction. John then needs to send this raw transaction to Jason(Email, BitMessage, SMS...).
  4. Jason imports this raw transaction, he can see the transaction is already signed by a private key. Jason reviews the transactions and sign with his private key.
  5. Now the transaction is signed by two private keys. Jason can simply click "Send" to broadcast the transaction.
TxC Version

Txcoin Version v1.1.1.8

Copyright © 2009-2014 The Bitcoin Developers
Copyright © 2013-2014 Transactioncoin Developers

This is experiment software.
Distributed under the MIT/X11 software license, see the caccompanying file COPYING or http://www.opensource.org/licenses/mit-license.php.

This product includes software developmentby the OpenSSL Project for use in the OpenSSl Toolkit (http://www.openssl.org/) and crytographic softwware.