Welcome To Obsidian's Official
Roadmap / Whitepaper
Obsidian's Roadmap
Examining 2022 through various criteria revealed a particularly challenging year for the cryptocurrency sector, marked by the disappearance of more than $2 trillion in mostly speculative market value.
​
Amidst this turbulent period, millions of consumers and businesses suffered financial setbacks. A notable consequence for the emerging industry and its technology was the diminishing trust in the fundamental promise of crypto-finance. Initially conceived as a corrective measure in response to the transgressions leading to the 2008 financial crisis, this promise is currently waning.
Concurrently, policymakers, who had been warning against the excessive risks associated with crypto without implementing sensible regulations, found validation in the form of several large-scale failures.
​
Nevertheless, for Obsidian, the strategy of maintaining a steadfast and measured approach is proving advantageous. Despite industry challenges, the organization is positioned for growth, prepared to rise from the solid foundations it has meticulously laid. The objective is not merely to endure the anticipated crypto winter but also to emerge as the network that not only survives but sets the standard.
​
Transitioning into the 2024 strategy, the focus is on utility as the driving force for growth. Obsidian aims to contribute meaningfully to the ecosystem by ensuring fair access to the global financial system. The essence of this utility lies in trusted assets, accessible global on and off ramps, and user-friendly products.
​
In 2024, Obsidian's strategy revolves around three fundamental building blocks, each supported by specific strategic initiatives:
​
2024 Building Blocks
As an organization, our work in 2024 will be organized around three building blocks that take network utility to the next level. Each of these building blocks is supported by targeted strategic initiatives — this is where the hard work happens. It’s the focus of the day-to-day, establishing specific outcomes we want to achieve in 2024 that move the needle on utility.
​
​
Facilitating Innovation
-
Scaling & Decentralization: Ensuring the technological framework and ecosystem can handle increased traffic.
-
Wallet Tools: Facilitating the straightforward development of robust wallets for developers.
​
​
Attracting Developers
-
Tier 1 Assets: Nurturing the growth of the world's most utilized assets on Obsidian.
-
Tier 2 Access: Developing easy-to-use, accessible, cost-competitive on/off ramps globally and applications that utilize them.
-
Tier 3 Soroban Adoption: Contributing to a thriving ecosystem with real, sustainable use cases.
​
​
Emphasizing Technology for Trust Building
-
Public Policy: Establishing Obsidian as a credible, reliable source on policy issues for both the public and private sectors.
-
Public Profile: Increasing awareness among companies and developers about Obsidian's Blockchain.
-
Products: Ensuring the quality of Obsidian's flagship wallet products for new users and power users.
​
​
Obsidian's commitment extends beyond building a network; it involves substantiating its value to stakeholders influencing the future of blockchain technology. This includes engaging with policymakers to position Obsidian as credible and reliable in the evolving landscape of blockchain regulation. Additionally, the organization aims to be a prominent voice in the broader public conversation, demonstrating the real-world value of its technology to businesses, developers, and other stakeholders.
​
2025
The Road To Decentralized Banking
​
In an ambitious stride towards financial empowerment, we are thrilled to unveil our groundbreaking plans for launching a decentralized banking system that aims to redefine the landscape of financial services. By leveraging cutting-edge blockchain technology, our platform will provide users with unparalleled control over their assets, ushering in a new era of financial autonomy. Unlike traditional banking systems, our decentralized model eliminates the need for intermediaries, offering users direct access to their funds, enhanced security, and transparent transactions. Our initiative is rooted in the vision of fostering financial inclusivity, granting individuals the ability to manage their wealth independently. Through strategic partnerships, user-friendly interfaces, and a commitment to innovation, we aim to position our decentralized banking system as the preferred choice for individuals seeking financial freedom by the year 2025. Join us on this transformative journey towards a more democratic and secure financial future.
Introducing our revolutionary crypto banking app, a game-changer in the financial landscape that seamlessly integrates traditional and digital currencies. With our innovative platform, users can receive an ObsidianCoin-backed MasterCard, empowering them to make real-time transactions directly from their crypto holdings. Gone are the days of cumbersome conversions or delayed transfers – our app bridges the gap between the crypto world and everyday spending. Whether it's for online shopping, dining, or everyday purchases, the ObsidianCoin MasterCard offers unparalleled convenience. Embracing the spirit of financial fluidity, users can enjoy the freedom to spend their OBN
​
We plan to launch our dedicated banking app on iOS and Android by the end of 2024 (Maybe earlier) and this will allow you to order a master card that is linked to your profile on the app.
​
Obsidian's Whitepaper
Introduction
​
Obsidian is the outcome of collaborative efforts to create a viable alternative currency akin to Litecoin. Our aim was to develop a coin that occupies a position between Litecoin and Bitcoin – bronze to Litecoin’s silver and Litecoin's silver equivalent to Bitcoin's gold. While several alternative currencies have emerged over time, each bringing innovation, they also encountered various issues. Obsidian represents a peer-to-peer Internet currency facilitating instant, nearly cost-free global payments. As an open-source, decentralized payment network, Obsidian operates without central authorities.
​
Blockchain
​
Obsidian's blockchain boasts a higher transaction volume handling capacity compared to Bitcoin. Thanks to more frequent block generation, the network accommodates more transactions without requiring future software modifications. This results in faster confirmation times for merchants, allowing for quick transactions while still providing the option to wait for additional confirmations for significant transactions.
​
Wallet Encryption
​
Wallet encryption enhances security by requiring a password before spending obsidians. This safeguards against wallet-stealing viruses and trojans, providing an additional layer of protection and confirmation checks before payments are sent.
​
Mining Rewards
​
Miners currently receive 100 new obsidians per block, with this amount halving approximately every four years. The Obsidian network is set to produce a total of 168 million obsidians, eight times the currency units of Bitcoin.
​
Open Source Software
​
Obsidian is an open-source software project released under the MIT/X11 license. This license empowers users to run, modify, and distribute the software. The transparent release process allows for independent verification of binaries and corresponding source code.
​
Premined Coins and Innovations
​
Obsidian seeks to integrate the best innovations from Bitcoin and other currencies while avoiding their pitfalls. Notable innovations include Tenebrix's Scrypt proof of work, which allows simultaneous mining of Bitcoin and Obsidian. The coin's release includes 150 premined coins, ensuring a fair distribution and avoiding concentration of control by a single entity.
​
Fast Transactions
​
Inspired by Litecoin's fast transactions, Obsidian offers quicker confirmation times, catering to the convenience of small merchants. The average Obsidian block takes 1.5 minutes, providing a faster alternative compared to Litecoin.
​
Difficulty Retarget
​
Obsidian maintains the same retarget block as Bitcoin but, due to faster block generation, retargets approximately every seven days. This ensures a balance between quick retarget times and the avoidance of hashing power fluctuations.
​
Coin Generation
​
Miners generate 100 coins per block, and coin generation is halved every 840,000 blocks, mimicking Bitcoin's trajectory. Obsidian is scheduled to produce approximately eight times as many coins as Bitcoin, totaling around 165 million obsidians.
​
Fairness
​
Obsidian prioritizes fairness by releasing the coin with both Windows binaries and source code, ensuring safety and fairness for all users.
​
Security Measures
​
To counter the 51% attack vulnerability, Obsidian implemented an innovative release strategy that attracted a significant hashrate from the start, discouraging potential attackers. The code is available on GitHub, based on the latest Litecoin code.
​
Configuration
​
Users can create an obsidian.conf file for configuration purposes. The provided sample obsidian.conf file illustrates server and RPC settings for secure usage.
In summary, Obsidian aims to combine the strengths of various cryptocurrencies while mitigating their shortcomings, offering a secure, fast, and fair alternative in the ever-evolving landscape of digital currencies.
Source code
The source code is here: https://github.com/obsidiancorecoin/obsidiancoin
​
• This is based on the latest Litecoin code. You can either build the daemon version (obsidiand) or you can build the gui version (Obsidian QT). See the build docs.
Similar to Bitcoin, you may want to create a obsidian.conf file here: Windows: C:\Documents and Settings\\Application Data\Obsidian Win7: C:\Users\\AppData\Roaming\Obsidian Mac: ~/Library/Application Support/Obsidian Unix: ~/.obsidian
Port is 2333.
Open if on your router if you know how. This will allow you to have more than 8 connections. And default RPC port is 2332. This is the port miners will use to communicate with your client/daemon.
Sample obsidian.conf file:
Code:
server=1 rpcuser=user
rpcpassword=password
​