NXT :: descendant of Bitcoin - Updated Information

[ChuckOne]

That's why we need a nice, detailed discussion here.

I think somebody wrote this before: We need to talk about incentives for running a node and incentives for forging.

can we get some clear definitions on these terms? (sorry if I missed this happening elsewhere)


1. Forging = Running an open client that contains some Nxt in it.

2. Running a Node = ?? Is this Hallmarking?

1) Forging is done by a node that have the private keys of at least one account that is due to forge. <<< is that understandable?
2) Running a node is running a node. Performing necessary computations for:
 - answering peer requests
 - storing and redistributing the blocks and transactions

[TM]

By the way: NXT’s main advantage over Bitcoin is, that it is not wasting energy as bitcoin and its mining concept do.

If this does got out to Humble Bundle I think there should be more of an incentive for mining/foraging (joining NXT) than its "not wasting energy" and "green".  This should be one element on the NXT platform were pushing not the primary one I'm hoping/assuming.

[jl777]

Interesting, I could see many coins being built with this model in mind, a coin that provides a service, paid for in Nxt, and mined to keep the network strong.

Please note that just "running a node" is not the same as "forging" in terms of "protecting the network".

Although it can help with things like DDoS and for those that are blocked from accessing IP addresses the most important work is that done by "forging nodes" as only those nodes are "confirming transactions".

I am confused again. I thought that all you had to do to forge was to have your account unlocked. Also, in order to make API calls that you have to have your account unlocked. If this is not the case, I will just make it so that forging is enabled by default when you are "mining" NXTcoins.

Wouldnt that be "protecting the network"?

James

If you have your node running, but don't have any NXT, you are not securing the blockchain.

This is why the NXTcoins will payout dividends in NXT. for a signing bonus, I will probably just seed every miner with 1 NXT

[ChuckOne]

First thing to remember: node != account.

Node is computing unit like a Raspberry Pi.

Account is a virtual entity in NXT.

[redsn0w]

could anybody send some testNXT to 14982679201235752929 please? thanks

I've send you 1KTestNxt  

received, thx

 

[ChuckOne]

If you have your node running, but don't have any NXT, you are not securing the blockchain.

This is why the NXTcoins will payout dividends in NXT. for a signing bonus, I will probably just seed every miner with 1 NXT

James, please do not build upon false statements.

[jl777]

Has anyone tested James' DOGE gateway yet?

I made some format changes in AM and with testnet down for so many hours, I am just about to debug the withdrawal side. I hope to make a fully functional release before I finish my day today. Still very young and could have bugs, that is why we use real DOGE and testNXT

James

[redsn0w]

Try with this code :

Code:

java -Xmx1024M -cp nxt.jar;lib\*;conf nxt.Nxt 

TYVM  

It works?

[2Kool4Skewl]

That's why we need a nice, detailed discussion here.

I think somebody wrote this before: We need to talk about incentives for running a node and incentives for forging.

can we get some clear definitions on these terms? (sorry if I missed this happening elsewhere)


1. Forging = Running an open client that contains some Nxt in it.

2. Running a Node = ?? Is this Hallmarking?

Hallmarking is when you mark a node with an account signature.  This gives the node more weight (higher importance) in the network the more NXT the account contains.  Typically, you hallmark your node with your account signature.

[redsn0w]

could anybody send some testNXT to 14982679201235752929 please? thanks

I've send you 1KTestNxt  

received, thx

I've sent you another 4K TestNxt   

[bitcoinpaul]

We are searching for the right incentives for:

- running a node (this secures the network)
- running a node, have an open nxt account and forging with it (this secures the security of nxt = 51% attacks ?!)

[longzai1988]

Code:

java -Xmx1024M -cp nxt.jar;lib\*;conf nxt.Nxt 

It works?

Ya it works on windows, meantime downloading the blockchain from scratch, is the 'login' port changed to 7875 ? 7874 no longer in used ?

[LiQio]

If you enable SSL, you need to set nxt.keyStorePath and nxt.keyStorePassword, and obviously you need to have your own SSL certificate (self-signed or signed by a CA) in a keystore file.

How i can make a self-signed certificate? Some guide step to step?

Jean-Luc said that JDK has a key tool.

See here: https://asktom.cf/index.php?topic=345619.msg5299314#msg5299314

[ChuckOne]

We are searching for the right incentives for:

- running a node (this secures the network)
- running a node, have an open nxt account and forging with it (this secures the security of nxt = 90% attacks ?!) DONE by TF.

FIFY.

[redsn0w]

We are searching for the right incentives for:

- running a node (this secures the network)
- running a node, have an open nxt account and forging with it (this secures the security of nxt = 51% attacks ?!)

yes.. we're searching to a donations/bounties  to run a node .. or to forge ( help the Nxt server ) .

[jl777]

And the most important feature:
The network can detect which miners don't take part in block generation and act accordingly.

CIYAM's opinion yesterday on this was something like "only penalize bigger accounts".

If somebody is not forging, then "penalizing" him for not forging by preventing him from forging for a while is not really much of a penalty. After all, they werent forging in the first place.

What this does however is if Evil Bob is monkeying with the forging process and SHOULD have forged, but intentionally didnt so he can try to game the protocol, THEN he gets justly punished.

Maybe it is just a matter of perception. We can just say that if you stop forging for any length of time, it just takes a bit of time to start forging again. Kind of like if you stop your car, it takes time for it to get back to full speed. Your average driving speed is penalized, but then again you had parked your car!

James

[bitcoinpaul]

Is penalizing not a part of TF?

edit: btw, i talked about incentives. what has TF to do with it?

[2Kool4Skewl]

We are searching for the right incentives for:

- running a node (this secures the network)
- running a node, have an open nxt account and forging with it (this secures the security of nxt = 51% attacks ?!) DONE by TF.

FIFY.

Even with transparent forging, Nxt is still susceptible to 90% PoS attacks.

[redsn0w]

Code:

java -Xmx1024M -cp nxt.jar;lib\*;conf nxt.Nxt 

It works?

Ya it works on windows, meantime downloading the blockchain from scratch, is the 'login' port changed to 7875 ? 7874 no longer in used ?

The port 7874 no longer used ..  now the new port  are 7875  / 7876 ( with the protocol https:// )  ... try it .

[bitcoinpaul]

yes.. we're searching to a donations/bounties  to run a node .. or to forge ( help the Nxt server ) .

I think this is a bad idea. Either the network/nxt itself can care of or this will fail.