[ANN] iXcoin [IXC] The Original Bitcoin Sidechain

[deadsea33]

iXcoin [IXC]
The Original Bitcoin Sidechain

@ MINERS
Update to 0.14.1 before block 450,000 and get reward again (PDP= Premine Distribution Program)


Download iXcoin 0.14.1




About:

iXcoin White Paper


Ixcoin is a fork of Bitcoin with twice the inflation rate of Bitcoin but with the same 21 million total limit.
Ixcoin is intended to closely mirror code updates to Bitcoin to allow for easy interoperability with Bitcoin-related third party services and APIs.

iXcoin (IXC) is the second oldest alt-coin, launched 10 days after Namecoin. iXcoin is a clone of Bitcoin, the only identical Bitcoin Twin in existence, fully matured and fully distributed, low cost P2p network to offer irreversible, low cost, highly scalable transactions. IXC an open source & decentralized digital currency,


How does Ixcoin differ from Bitcoin?


Ixcoin is merge mined with Bitcoin
http://bitcoin.stackexchange.com/questions/273/how-does-merged-mining-work

Shorter maturity period
All Ixcoins were been generated by  Oct 2014. Mining relies solely on transaction fees now. Ixcoin reached it's maturity  ~18 years before Bitcoin's.

New blockchain
Although Bitcoin's blockchain is in the same format as Ixcoin's, they use different genesis blocks and have a different reward scheme. So Bitcoins will not be valid in the Ixcoin blockchain and vice-versa.

Different default ports
Bitcoin's operating port 8332 is now 8337 with Ixcoin.
Bitcoin's RPC server port 8333 is now 8338 with Ixcoin.

New key format
Wallet public keys now start with the letter x instead of the number 1 for Bitcoins.
Bitcoin wallet key: 175tWpb8K1S7NmH4Zx6rewF9WQrcZv245W
Ixcoin wallet key : x75tWpb8K1S7NmH4Zx6rewF9WQrcZv245W


History
IXC developers

Devs 1&2
Thomas Nasakioto and Fred Twingham
-Responsible for the creation of IXC

Dev 3
DoubleC
-Responsible for merge mining updates with version 0.3.24.3

Dev 4
Frictionlesscoin
-Responsible for update 0.8.6. This was the first update since Dec 2011 and helped bring about a resurgence in IXC interest.

Dev 5 / 6 / 7
Ahmed Bodi / GroundRod / Cinnamon
-These fine gentlemen stepped up to the plate to get IXC updated to the latest BTC codebase 0.9.2 and 0.9.3

Dev 8 / 9
Starmman & ArchimedesIX
-These fine gentlemen stepped up to the plate to get IXC updated to the latest BTC codebase 0.14 and 0.14.1

Vlad2Vlad
-Spokesman & Dev



Specification:
Specifications for IXCOIN (IXC) from http://coinwik.org/IxCoin

 Launched: August 10, 2011
By: Thomas Nasakioto (a username on bitcointalk.org)
Type: POW SHA-256 Algo/Hashing
Supply: 21 Million Coins x 10^15; or same as supply of BTC
Speed: 10 Minutes
Retarget: Every 2016 blocks
Reward: 96 IXC  All Coins Released: minting ended on Oct 13th 2014
Reduction: 0
Premined: 2.7% - 4 years and still paying out bounties.
UPDATE
EVERY block, one by one, has been restored to its original condition.
All the first 6050 blocks contain at least (in a few cases more) 96 IXC.
The premine was partially given to the community, but the community has given it back.
The plan is to redistribute the premined 580,800 IXC to miners in next hard fork (update 0.14.1: coins will be given to miners from block 450,000: 1 IXC/block reward)

Fees: 0
RPCPORT:    8338


LINKS

Websites:

https://ixcoin.info

Wallets
Windows (keep your wallet.dat backup secure):
https://github.com/IXCore/IXCoin/releases

Mobile App:
Coinomi android (keep your seed secure):
https://play.google.com/store/apps/details?id=com.coinomi.wallet



Block Explorer
http://explorer.ixcoin.info/

Paper Wallet
https://walletgenerator.net/?currency=iXcoin

Source Code
https://github.com/IXCore/IXCoin/releases

Electrum IXC wallet (old one)
https://github.com/electrumalt/electrum-ixc

CoinMarketCap
https://coinmarketcap.com/currencies/ixcoin/

F a u c e t
g o o . g l /Q1gAMT


FAQ

I can't find any connection with any version of the wallet. Has anyone some nodes for me.

Either version should work if you're not mining. If mining then 0.14.1 is the most tested.


Nodes:

addnode=52.15.150.105
addnode=18.217.178.46
addnode=162.226.74.127
addnode=172.250.84.207
addnode=174.28.135.3
addnode=175.192.238.15
addnode=178.0.202.139
addnode=178.238.224.213
addnode=188.75.128.53
addnode=2.216.73.249
addnode=24.56.241.219
addnode=47.204.237.172
addnode=64.71.72.56
addnode=93.37.183.181
addnode=144.76.71.141
addnode=148.251.90.34
addnode=176.9.65.41
addnode=184.164.129.202
addnode=188.134.72.213
addnode=188.40.80.137
addnode=24.247.103.100
addnode=51.254.196.222
addnode=162.222.160.77
addnode=37.187.88.140
addnode=64.156.193.100
addnode=71.126.115.242
addnode=50.176.143.235
addnode=72.13.188.130
addnode=82.149.24.32
addnode=99.192.87.165
addnode=99.192.88.10
addnode=176.126.252.12
addnode=80.238.174.36
addnode=80.238.177.203
addnode=93.115.95.216


how to create an ixcoin.conf file in windows

open notepad, copy and paste the above, save as, then save as type *.* with name ixcoin.conf

for win7 put it into this dir
c:\users\USERNAME\appdata\roaming\ixcoin

note: username is your user name
appdata is a hidden folder, turn on view hidden folders under control panel\folderoption


FAQ FROM THE ORIGINAL WEBSITE IXCOIN.ORG


P2P Virtual Currency
Ixcoin is a peer-to-peer currency based on Bitcoin with a shorter maturity. Peer-to-peer means that no central authority issues new money or tracks transactions. These tasks are managed collectively by the network which currently secures Ixcoin with 10 PetaHash/s. Ixcoin is the first Bitcoin clone or Alternative chain, created in April 29  2011 just a few weeks after the distributed DNS Namecoin. Today, there exists many Bitcoin clones.

General
What is Ixcoin?

Ixcoin is an open source digital currency, based on the cryptocurrency Bitcoin, which is distributed over a peer-to-peer network to offer irreversible, low-cost, anonymous and decentralized monetary transactions. Ixcoin is the first Bitcoin clone or Alternative chain, created in May 2011 just a few weeks after the distributed DNS Namecoin. Today, there exists many Bitcoin clones.

Ixcoins are the unit of currency of the Ixcoin system. Similarly to Bitcoin's BTC, a commonly used shorthand for this is “IXC” to refer to a price or amount (eg: “100 IXC”). An Ixcoin isn't tangible. It is just a number associated with a Ixcoin Address, which is a string of 33 numbers and letters which begin with the letter x such as xa9jpgHugb2pTCpzoZcDdiHKepy8mjpddX. See also an easy intro to bitcoin.
How does Ixcoin differ from Bitcoin?

Shorter maturity period

There are currently ~11M (as of June 2013) in existence and it is expected that all 21 million Bitcoins will have been generated by 2033. Whereas all 21 million Ixcoins are available now in 2015. This is because 16*6=96 IXC were created per new block, instead of 50 BTC in Bitcoin.

Ixcoin maturity will be reached ~18 years before Bitcoin's. By mid-2013, the number of IXC and BTC will reach parity (for a brief moment).

See the graph below comparing Bitcoin's and Ixcoin's inflation over time:
Ixcoin vs Bitcoin Inflation Rates

New blockchain

Although Bitcoin's blockchain is in the same format as Ixcoin's, they use different genesis blocks and have a different reward scheme. So Bitcoins will not be valid in the Ixcoin blockchain and vice-versa.

Different default ports

Bitcoin's operating port 8333 is changed to 8337 with Ixcoin.

Bitcoin's RPC server port 8332 is defaulted to 8338 in Ixcoin.

Merged Mining

Ixcoin switch to merge mined with Bitcoin in 2012. Merge mining allows a Bitcoin miner to mine for more than one block chain at the same time. The benefit is that every hash the miner does contributes to the total hash rate of both (all) currencies, and as a result they are all more secure.

New key format

Wallet public keys now start with the letter x instead of the number 1 as in Bitcoins:

Bitcoin wallet key

    175tWpb8K1S7NmH4Zx6rewF9WQrcZv245W

Ixcoin wallet key

    x75tWpb8K1S7NmH4Zx6rewF9WQrcZv245W

Where is my wallet stored in Ixcoin?

Your Ixcoin wallet is stored in the Ixcoin data directory. This is the same location format as with Bitcoin and will typically be of the form:

    Windows XP C:\Documents and Settings\YourUserName\Application data\IxCoin

    Windows Vista/7 C:\Users\YourUserName\Appdata\Roaming\IxCoin

    Linux ~/.ixcoin/

    Mac ~/Library/Application Support/Ixcoin/


Can I use my bitcoin.conf and bitcoin.pid with Ixcoin?

Yes. Just rename them respectively to ixcoin.conf and ixcoin.pid and move them to your system's wallet directory (see above). Alternatively, use the command switches -conf=<file> and -pid=<file> respectively to point to your custom bitcoin.conf and bitcoin.pid files.
Are there any other differences between Ixcoin and Bitcoin?

Apart from those listed above, Ixcoin is a direct fork of the original Bitcoin source code. The goal is for Ixcoin to mirror Bitcoin's code exactly (apart from listed differences) in the future.

Note that dnsseeds are disabled by default in the build until an Ixcoin DNS seed formed.

How many Ixcoins will there be?

21 million Ixcoins, just like Bitcoin. But Ixcoin will reach full maturity ~18 years before Bitcoin.

Can I run both Ixcoin and Bitcoin at the same time?

Yes. Both clients can run side-by-side.

Are Bitcoin client clones compatible with Ixcoin?

Most Bitcoin client clones will need minor modifications to work with Ixcoin such as changing the operating port to 8337, altering the blockchain verification code if any and changing the address generation algorithm.

Can I use my Bitcoins as Ixcoins?

No. Bitcoins have the same relationship to Ixcoin as they have to any other currency (e.g. USD, GBP). You would need to exchange/convert them for valid Ixcoins first via an exchanger service.

Are my Bitcoin addresses compatible with Ixcoin?

No. Your Bitcoin addresses/keypairs will not be recognized by the Ixcoin blockchain, so although they might work they will not point to valid Bitcoins (and vice-versa).

You will need to either mine Ixcoins or use an exchanger to convert fiat currency or Bitcoins for Ixcoins.

How do I convert my Bitcoins to Ixcoins?

Via an exchanger that will buy/sell bitcoins for Ixcoins and vice-versa, such as Cryptopia, Yobit & Coinexchange

How do I mine Ixcoins?

As of October 2014 mining is complete but the blockchain can still send coins because of merged mining with bitcoin.

What is value of a Ixcoin?

Like Bitcoins and other currencies, the current spot value of a Ixcoin with regards to other denominations will likely vary depending on supply and demand.

Where can I download Ixcoin source code?
Please go to https://github.com/IXCore/IXCoin/releases   The latest is 0.14.1

Where can I download precompiled Ixcoin client?

Please go to https://github.com/IXCore/IXCoin/releases

What license if Ixcoin distributed under?

Under the MIT License, like Bitcoin

What does the Ixcoin version number mean?

Ixcoin will keep the same version naming convention as the Bitcoin releases. Therefore version 0.14.1 of Ixcoin corresponds to a modified version of Bitcoin release 0.14.1. The intend is to keep Ixcoin tailing any new updates to Bitcoin.

Who owns Ixcoin?

Everybody. You are welcome to submit code to the https://github.com/IXCore/IXCoin/releases which the community members will vote to include or not in the next release of Ixcoin. However, Ixcoin is intended to closely mirror code updates to Bitcoin (except for differences previously outlined) to allow for easy interoperability with Bitcoin-related third party services and APIs.

Who created Ixcoin?

The Ixcoin fork of Bitcoin was created by Thomas Nasakioto in May 2011.

Is it profitable to mine Ixcoin?

With merged mining, little extra work is necessary to mine Ixcoin alongside Bitcoin which benefits both chains and increases rewards.

Will Ixcoin replace Bitcoin?

Ixcoin will exist in parallel to Bitcoin, just like multiple currencies coexist today. Exchanges will enable BTC/IXC conversions and the market will determine the value of each.

Where can I find out more about Ixcoin?

Since most Bitcoin-related material also applies to Ixcoin, please refer to the Bitcoin Wiki for more information. For current events contact the growing community of developers and board members


Some History

Nice service

http://web.archive.org/web/*/ixcoin.org

http://web.archive.org/web/20110924051450/http://ixcoin.org/

http://web.archive.org/web/20110930053328/http://ixcoin.org/wiki/index.php?title=Category:Bounties

Where the logo was born:
http://web.archive.org/web/20111007214613/http://ixcoin.org/forum/index.php?topic=23.0


http://web.archive.org/web/20150907222025/http://www.ixcoin.co/

[ArchimedesIX]

Merged Mining is a key feature of IXC is The Original Sidechain. By tying IXC to the strongest SHA256 mined coin, merged mining leverages the hashing power of both coins at an incremental cost of maintaining an additional full client and merged mining software.

Overview of Merge Mining can be found here: https://bitcoin.stackexchange.com/questions/273/how-does-merged-mining-work

There is not a lot of research on merged mining - a study dated Aug 17 can be found here https://eprint.iacr.org/2017/791

Trade offs seen so far which line up with research:

Pros:
1) Better immutability in fewer blocks due to increased hash rate
2) More efficient use of hashing for incremental sidechains
3) Lower mining reward and fees needed to make a side chain viable

Cons:
1) Side chains have seen increased centralization in mining - the incremental effort of running full clients and software is larger for small miners so only larger ones will take it on. Likewise there is risk for larger miners so not all will take up merge mining.
2) To support a side chain only with fees, the fees either have to increase or the blocks have to be big enough with a use case in volume.

IXC is a near clone of bitcoin. The main difference is mining completed much faster - in 2015. Once this occurred, merged mining for IXC dropped off. Mainly surviving in P2Pool and other small/medium operations. This was a very useful and noble experiment - there is a better understanding of what is required to make a merge mined side chain viable.

To improve incentives to merge mine IXC, fees and reward need to be increased - but not that much. The latest version of the iXcoin client achieves this. Next up are a couple of high volume use cases.

Final thought, Bitcoin is headed toward high value commerce and minor reserve currency status. There will need to be second and third order networks to satisfy smaller, high volume, programmable, and more private transactions. Merge mining is one approach that is established and viable now.

[ArchimedesIX]

IXC was started in May 2011 - third crypto. Early days, well before bitcoin was successful and well before almost anyone thought it would be successful.

IXC tried out a couple of concepts - 1) a small number of coins were set aside for bounties - less than 3% -  and 2) the block rewards were larger but the total number of coins the same - to test out what happens when a coin must rely on fees and not miner rewards. For good measure merge mining was added.

Neither worked out very well - newer coins had premines of 10%, 20%, 80% (looking at you Ripple) which gave any coin with a premine - even a miniscule one -  a bad name. Also we confirmed fees on 1MB blocks are woefully inadequate - this may have driven some of the urgency (panic) to increase bitcoin block size.

Now here we are - the premine has been donated back and sequestered - a fork at 450K blocks will give IXC a larger block size 64MB - 2X what Satoshi had set bitcoin to originally - pretty reasonable since 2018 computers are more than order of magnitude faster than 2009 computers. Enough to provide a significant block reward with small fees. Also just enough with current optimization techniques to match average visa transaction volume.

Will this be the right update for The Original Bitcoin Sidechain?

[ArchimedesIX]

With the larger blocks after the fork IXC can distribute a massive number of small wallets. Millions per day. Billion over the course of a month. Most coins cannot do that and still be decentralized.