What is QixCoin?

QixCoin is a new cryptocurrency to support peer to peer gaming, both by strategy or by chance. It is anonymous, untraceable and peer to peer tradeable against the other major cryptocurrencies, and has a built-in engine to verify card games, like Poker or Blackjack. You can play a game of Poker, make bets and show your hands, but don’t worry, the coin knows exactly who the winner is. No third party is needed for arbitration. You can also host a championship where the price is automatically given to the real winner. Games are described in a scripting language, so more games can be added by users. If you have a new game to offer to the network, then you can just write a special transaction that allows nodes to accept and verify your game, and that’s it, forever. But also QixCoin is good for any other purpose where digital cash is an advantage. And it has a 30 seconds confirmation interval, which makes it suitable for everyday use.

QixCoin is still in beta, and we’re adding features every day. It’s and hybrid system. Part of it works as a balance-sheet, with periodic cleanups, and the other part works with anonymous bills. This separation allows fast payments to the pot, from pseudonymous player accounts, but still retains all the privacy for the bills not wagered. Also any expensive ZNPs are disposed in each periodic balance, so the block-chain does not need to hold that blobs forever. Like cats, it cleans itself periodically. It also has protective measures built-in to keep the block chain size free of dust bills.

Qixcoin does not specify how players contact each other, and so is suitable to be integrated with table tracking systems and external reputation systems (mostly required if you want to play games where collusion may be an issue).

Almost every cryptographic protocol, every feature, every detail in QixCoin is innovative, from the Mental Poker engine to the zero-knowledge proofs used in the card shuffling,to the peer to peer virtual trading protocol (P2PTradex), to the group pot accounts, to the merged mining support, to the balance-sheet cleanup system, to the combinable/divisible bills design which hides the amount. to the scripting engine, to the low latency block propagation algorithm with quasi-optimal dynamic routing of blocks. Game scripting is almost Turing complete (only limited in number of steps and memory consumption). We think QixCoin will have a 30 seconds confirmation interval, with a low number of natural chain forks,  because of the block routing optimizations and block header push heuristic, but this is still a matter of research.

So, as you see,  unlike many other alternate cryptocurrencies, QixCoin is not a clone of any other code base. It shares with Bitcoin the Proof-of-Work block chain idea, which we think is completely amazing.

QixCoin source code will be open for anyone to review it or audit it. We’re still evaluating the actual licensing terms.

I will start posting periodically the ideas and internals of QixCoin, so keep tunned to this blog!

For those who know me personally, you know I’d do my best to make good quality code, but as Gavin always says, this is experimental. Do not put your savings in it. I also want to remark that I believe Bitcoin must be strong for all the alternate coins to have a chance of success. I dream of an ecosystem of virtual coins trading against each other, each one of them suitable for a different purpose.

As we’re still a small group of people working on it (currently, just me), and I’m writing math proofs more than writing code.  if you think you can contribute to QixCoin, either by donation of your time, by sending me your ideas, of by investing in the project, please contact me at segiolerner ((a)) certimix.com

If you like my work and you want to encourage me and support me in this crazy endeavor, you can donate Bitcoins to this address: 17mcFB7Xyymd9hxp2bgNPz1ruWsdoPoCnZ

Thank you, Sergio.

Disclaimer: Keep in mind that you’ll be fully responsible for obeying the laws that apply to your country or jurisdiction regarding on-line gambling, if those laws regulate gambling in virtual currencies. We do not take any part nor get any direct revenue as rake from illicit or legit game plays.We do not suggest nor support breaking the laws that apply to you.

Also I adhere to Responsible Gaming and I’ll try to do my best to build an open system with built-in alerts on pathological gaming, that provides fair shuffling, underage protection and privacy,  I don’t even like gambling, if odds are against me. But because this software will be open for users to modified it and recompile it, I cannot guarantee by any means that people will use it accordingly to these standards. Please use it responsibly. That it as far as I can do.

One thought on “What is QixCoin?

  1. Ruzaiq

    Hi there,

    This sounds like a very cool idea.
    The idea was also brought up in a forum: bitsharestalk.org run in connection with the company invictus innovations.
    http://invictus-innovations.com/

    Perhaps you should consider teaming up with them. They a really cool bunch of friendly people.
    Their projects are well funded and they have a huge community already supporting everything they do.

    At the very least have a conversation with them. They have good ideas and enjoy helping the ecosystem as a whole :)

    Let me know what you think.

    Reply

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