Ultracoin (UTC) & Scrypt-ChaCha

Uncovered

Presentation ≠ Investment Advice.

Please do your own

research.

Trust but Verify.

Thank you and Enjoy.

root$ whoamitravis

mixed media artist, designer

crypto miner, researcher, trader

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Greets to the %27 crewUnder Attack? DDOS Mitigation, Pentesting, and more.. travis@hackmiami.org

Digital Crime Intelligence & Forensics for Civilians, Small Business, Governments, Militaries, and Fortune 100 Enterprises

Thank you Final Hash for hosting this historic event and bringing everyone

together!

It is an honor and privilege to be here discussing the wild world of crypto!

Thank you Ultracoin Community

for the generous support of the team and the trip!

Special Thanks to Steven for all the hard work!

ultracoin.net

ultracoin.net/wallet.html

ultracointalk.com

useultracoin.com

useultracoin.com

ultrabex.com

The beginning.

Litecoin Difficulty & Hashrate

source: cryptometer.org

Litecoin Difficulty 1y

Litecoin Difficulty All

Why Ultracoin?

● Strategic haven for Litecoin (scrypt) miners as GPUs become unprofitable and ASICs take over

● Modern voluntary currency exceeding all requirements of money

● 6 sec transactions ensure fast commerce and rival credit and debit processors

● Base algorithm ensures decentralization

● Active community and business partners ensure acceptance

● Team of developers and marketers ensure capital flow and innovation

ultracoin-2/src/README.md

Total coins: 100,000,000

Premine: 2% (1.6% IPO / 0.3% DEV / 0.1% REWARDS)

Block time target: 30 seconds

Block reward: 50 (currently 15), halving every 990,000 blocks

Difficulty retarget: max 200% per 30mins

Mined block confirmation: 50

Transaction confirmation: 5

NFactor Integration

Ultracoin Family Tree

0, 2013-12-30 00:00:08

Public Release: February 1, 2014

0, 2011-10-07 07:31:05 UTC

0, 2014-01-09 23:49:31 UTC

scrypt-adaptive-N as a proof-of-work algorithm.

Litecoin is a lite version of Bitcoin using scrypt as a proof-of-work algorithm.

Genesis block:

0, 2009-01-03 18:15:05 UTC

Ultracoin is a hybrid proof-of-work / proof-of-stake coin using Scrypt-ChaCha / N-Factor for ASIC resistance

0, 2012-08-16 02:31:27 UTC

First implementation of hybrid proof-of-work/proof-of-stake

0, 2013-05-08 05:33:40 UTC

first to implement scrypt-jane lib

ultracoin-2/src/scrypt-jane/scrypt-jane.h

scrypt parameters

Nfactor: Increases CPU & Memory Hardness

rfactor: Increases Memory Hardness

pfactor: Increases CPU Hardness

In scrypt terms

N = (1 << (Nfactor + 1)), which controls how many times to mix each chunk, and how many temporary chunks are used. Increasing N increases both CPU time and memory used.

r = (1 << rfactor), which controls how many blocks are in a chunk (i.e., 2 * r blocks are in a chunk). Increasing r increases how much memory is used.

p = (1 << pfactor), which controls how many passes to perform over the set of N chunks. Increasing p increases CPU time used.

N-Factor RAM requirements

Use "networkhashps/1000^3=hashrate in ghash/s" to calculate

N factor explanation:

N-Factor Seconds Since Launch Days at N-Factor Start Date Memory size4 0-524287 6.07 12 / 30 / 13 @ 12:00:00am UTC 8KB5 524288-786431 3.04 01 / 05 / 14 @ 01:38:08am UTC 16KB6 786432-1048575 3.0 01 / 08 / 14 @ 02:27:12am UTC 32KB7 1048576-1835007 9.1 01 / 11 / 14 @ 03:16:16am UTC 64KB8 1835008-2097151 3.1 01 / 20 / 14 @ 05:43:28am UTC 128KB9 2097152-4194303 24.2 01 / 23 / 14 @ 06:32:32am UTC 256KB10 4194304-5242879 12.2 02 / 16 / 14 @ 01:05:04pm UTC 512KB11 5242880-8388607 36.4 02 / 28 / 14 @ 04:21:20pm UTC 1MB12 8388608-12582911 49 04 / 06 / 14 @ 02:10:08am UTC 2MB13 12582912-16777215 48 05 / 24 / 14 @ 03:15:12pm UTC 4MB14 16777216-33554431 194 07 / 12 / 14 @ 04:20:16am UTC 8MB15 33554432-41943039 97 01 / 22 / 15 @ 08:40:32am UTC 16MB

What to expect as a result:

1- An equilibrium between CPU and GPU mining at one point.2- UTC value rising as a result of increased cost to mine.3- UTC becoming more and more ASIC resistant as time goes by.4- Cloud mining will be a choice as another mining medium.

Conclusion: UTC is positioning itself to be a major beneficiary of the LTC migration.We all saw the migration from bitcoin to LTC as a result of ASICS.Soon UTC will see the same sort of migration as Scrypt Asics roll out in large numbers.

Comparison of source code directory structures and file counts

Total Files:BTC = 1285LTC = 820UTC = 551

/src/scrypt-jane src/scrypt-jane/code

scrypt-jane.c (partial)ultracoin-2/src/scrypt-jane/scrypt-jane.c

where SCRYPT_MIX is one of

* SCRYPT_SALSA* SCRYPT_SALSA64 (no optimized 32-bit implementation)* SCRYPT_CHACHA

and SCRYPT_HASH is one of

* SCRYPT_SHA256* SCRYPT_SHA512* SCRYPT_BLAKE256* SCRYPT_BLAKE512* SCRYPT_SKEIN512* SCRYPT_KECCAK256* SCRYPT_KECCAK512

Supported Mix and Hash Functions

ultracoin-2/src/scrypt-jane/code/scrypt-conf.h

ultracoin-2/src/scrypt-jane/code/scrypt-jane-romix.h

ultracoin-2/src/scrypt-jane/code/scrypt-jane-chacha.h

http://cr.yp.to/chacha.html

ultracoin-2/src/scrypt-jane/code/scrypt-jane-salsa.h

ultracoin-2/src/scrypt-jane/code/scrypt-jane-salsa64.h

http://cr.yp.to/snuffle/salsafamily-20071225.pdf

ultracoin-2/src/scrypt-jane/code/scrypt-jane-hash.h

ultracoin-2/src/scrypt-jane/code/scrypt-jane-hash_blake256.h

ultracoin-2/src/scrypt-jane/code/scrypt-jane-hash_blake512.h

https://131002.net/blake/

ultracoin-2/src/scrypt-jane/code/scrypt-jane-hash_keccak.h

http://keccak.noekeon.org/

ultracoin-2/src/scrypt-jane/code/scrypt-jane-hash_sha256.h

ultracoin-2/src/scrypt-jane/code/scrypt-jane-hash_sha512.h

csrc.nist.gov/groups/STM/cavp/documents/shs/sha256-384-512.pdf

ultracoin-2/src/scrypt-jane/code/scrypt-jane-hash_skein512.h

http://www.skein-hash.info/about

Proof of Stake via PPCoin. C++ header file (partial)ultracoin-2/src/kernel.h

ultracoin-2/src/kernel.cppProof of Stake via PPCoin. C++ source file (partial)

LTC diff at 38.9!

MSI 7950s averaging 670Kh/s each w/ scrypt

Same 7950 averaging 3.5Kh/s w/ scrypt-chacha

Questions?

Bonus Content

Debt Based FED System: “The Biggest Scam in the History of Mankind”

For 2,400 years a pattern has continually repeated with disastrous consequences

1)Governments start out with sound money that people trust.

2)Governments take on more obligations that require more debt.

3)Governments print more currency to pay the bills.

4)The public senses prices going up and know that something isn’t right.

5)People trade their government currency for Gold and Silver (and now cryptocurrency).

6)Gold and Silver (and now cryptocurrency) revalue themselves to account for all the currency printed. This historically affords precious metal owners (and now cryptocurrency owners) massive gains in purchasing power to buy more land, real estate, stocks, businesses, etc.

Currency vs Money

Once upon a time...

Don't de-value me bro!

ALL fiat currencies eventually go to zero!

We can pay this back no problem!

Was America ever debt-free? Jan. 8, 1835, thanks to Andrew Jackson. Lasted exactly one year.