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Maxnodes verified to be on a different payment mechanism is working. We will have a mix of stakers + masternodes splitting rewards and maxnodes on their own super track. Maybe now a good time to grab some Lytix. Too bad less than 120,000 are available to sell on Crex24. Ya'll are going to miss out.
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Maxnodes are working in testnet. I have some work to do on the rewards, but they are up and running without issue. Kinda sorta a really big deal.
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This is the real Lytix ANN - ignore that Scammer that launched the other thread
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and that is all that account has ever posted - thanks, but no thanks spammer
We are voting again on the following reward changes: 1. Rewards change 60/40 Masterdode operators: 60% Stakers: 40% proposal - https://bit.ly/2vFpxolhash - fca80b56b8c46746bddd809ea8dd67320dbbd0c17c9d7ef7a578043caece9bd4 2. Rewards change 70/30 Masterdode operators: 70% Stakers: 30% proposal - https://bit.ly/2JhEN34hash - 34c2bfac9f8aafb05b4010d644939201a5706e5a2510fc7524f3a04f93e4dfb0 3. Rewards change 65/30/5 Masternode operators: 65% Stakers: 30% Dev Fund: 5% porposal - https://bit.ly/2H23b74hash - 6d171db70bf34a1e4fa07e5aa5bcb9857b5cf724518873ea2407c068b8bbce6d 4. Rewards change 70/25/5 Masternode operators: 70% Stakers: 25% Dev Fund: 5% proposal - https://bit.ly/2WpTeWbhash - 695add2d9900ad9b0547d04d159a50291223649afd322857d32e29edc53314f5 |
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Didn't this service have some issues a few months back? I heard that a lot of the accounts were hacked, but I never found out how or why it happened? We have 2 really good services we've already partnered with - ihostmn.com and crypos.io. I had tried to work with the service you mention months ago, but never got anywhere with the admins. |
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lytix-cli --testnet maxnode status
{
"txhash": "bf27adacdc3baefd0cf0cdbcbeed8b1f153d1582852ac522cef351e4ba2ddab4",
"outputidx": 1,
"netaddr": "45.32.202.96:27072",
"addr": "D7ZHdkvWKjH8yJP59RxMWWfGAisSkN2PrY",
"status": 4,
"message": "Maxnode successfully started"
}
what do you think this means?
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I'm still working on the activation for maxnodes. It is a tough issue that is a bit hard to troubleshoot, but I am making some daily progress in figuring it out. That's the delay on maxnodes for the moment. We are voting on logos and different websites if you want. I just want to give you all the option to vote on something different if you'd like the face and logo to change. If there are any business partners or services that show up I'd like them to propose their services in General. I get DMs all the time for this and would like you all to have a say in what you would like to do. We're a community and make decisions that way. I'll do the coding and cover some costs, but want to make sure the project goes in a direction that you are happy with. Don't be shy to speak up. If you have an idea, but are worried about sharing it then let me know. Any coinholder can DM me at any time. I'm not online all the time, but will certainly be there for you if you need me. We are now a legal entity in Texas (where I am from) and can operate under the business name of Lytix Chain Foundation. A first step to an official business that gets us ready for big exchanges and eventual business partnerships if we can find some Enterprise suitors to use our solution. I'll enable the new features via sporks, so when maxnodes are ready we will pick a date for that and for the rewards change. I will probably put in some more proposals to see a few options like 60/40 (which is already approved), or 70/30. Just as an additional note zerocoin is pulled out of Lytix in the current source tree on github. Also, good news if you like compiling your client via source. You can do so now and be able to connect and update your client. Please note - if you are a binary user (1.7.4 or 1.7.5) you do not need to update anything. I'll announce in BIG BOLD TYPE when v2.0 is released. It will be a BIG DEAL, because maxnodes will finally be done. I originally thought that it'd be done at the end of April, but some of the difficulties I've had in activation of a maxnode has slowed development down a little. I will get past this and move on with the other pieces. So, we're still moving forward and still working. Thanks for hanging in there and being patient. I know crypto is a get rich yesterday thing, but we're just not that kind of outfit. We're going to have a usable product to sell and we'll be proud of it.
I'd still prefer to keep 60/40 as masternode / stake
it'll need a new wallet, right?
have you considered listing on a service like Gin or GTM for easy masternode setup faetos?
this would definitely be interesting for LYTX!
There are votes going on, so if you have masternodes you can participate, that's the way it works, the community can have a voice in almost every decision concerning this project! I don't know about the wallet update, though...but if faetos plans to release this rewards split update + maxnodes at the same time, then a wallet update will definitely be required. Thank you for the suggestion concerning GIN and GTM, do they have fees to list new coins/projects? Besides, there is already IhostMN and crypos.io for masternodes hosting. Those ones work just fine  not sure about GTM but GIN charges no fees afaik. congrats on delta listing and on the official businnes registration! nice! will check the voting, is it on discord or some ther way? Right now 60/40 masternode / staker is going forward. I'll put a proposal forward in the wallet to see which gets the most votes. I am pretty sure nearly every coinholder has a masternode or has a hosted node. I'm pretty sure it will lean towards a 70/30, but if you are a staker only please let me know here. I check this every day as well.
We are going to change the logo for Lytix. We have voting going on in Discord, Twitter and Telegram. Here are the two logos that have the most votes: Website Logo  Tybiboune's Logo Which do you prefer? Please let us know |
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Lytix Chain Foundation is officially a recognized business in Texas. I filed paperwork today in San Antonio. So, we're a real legal entity. Small start to many good things to come.
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How much do our folks love Lytix? They won't sell you any they love it so much! https://crex24.com/exchange/LYTX-BTC … Only 67,471 for sale out of a total supply of 7,373.386. That's 0.915%. Yeah, good luck hopping on this train! |
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Now this is a project that we are talking about. Being handled by a good rank user to which all of us know that an account is really precious and it is hard if it gets a red trust by posting a scam. project. Most.of the project in this sections were being brought by copper or jr..member and I do not like think that way on how a good project wi lost its credibilty due to the low rank users bringing the project.
yes, there are so many 1 commit wonders out there that want to solve world hunger with an ICO and a PIVX clone. It's just bananas what folks throw their money to. Cool thing about our effort is that all of our masternode operators earned their masternodes and our maxnodes owners will be the same. Our community is really good and full of high quality folks. We've been under the radar a bit because we're small and want to deliver some value before we do promotions and drop a lot of hot air without a product. Thank you for recognizing us. It's validation and fuel to make us want to work harder. |
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just some fyi on where I am in this process of getting maxnodes going:
1. Main coding for maxnodes - complete
2. GUI work for maxnodes - complete
3. Test activation and proper working of maxnodes - we are here
4. API work on maxnodes for data API
5. Test chain and determine if a side chain is approrpiate
6. Research encrypting data insertions by default
7. Testing new client for encryption
8. Spork enforcement of maxnodes to cut over on a certain block/date
9. Test spork
10. Release client and maxnodes
Document and market
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I have been following and an investor of the Lytix project for a while now and I have to say I have never found a more committed and transparent dev. You will always find an open and honest response from Faetos, no bs here, and always available to answer questions and explain the progress of the project. Lytix is an opportunity for me, and others as well, to be involved in a open and honest crypto project. When is the last time you could say that. Feel free to come and see for yourself.
We all know that this kind of developer is quite rare. However, what would it take for the Lytix project to increase its value in the exchange? Or is it because I couldn't find any other application other than trading? That is most likely the case. I had folks jump on the coin before I could get the "special" put together which will be the addition of the 3rd tier maxnodes. These will hold the data APIs that will store data (text initially) for decisions, audit, and other immutable statements that need to be stored in an unchanging environment. This is currently in development and will hopefully be released this month. I've been working hard to get this out and running so we can have our purpose and a reason to exist and hopefully thrive.
Discussion on discord is should we change the reward behavior to the following: 70% masternode operators 30% stakers We have currently agreed to a 60/40 split, but the question is now open. |
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I have a question for the dev: I'm brand new to this tier 1-2-3 system, and as I understood that one of those tiers will be used to keep storage of important files, would you mind explaining a bit more how this will work? will every MAXnode store the whole files, or each MAXnode one part of the file? I suppose this will define the technical requirements for those MAXnodes, because for now with 20 GB of disk you can easily run 20 masternodes, but in the case of a bank or insurance storing files in the blockchain, this weight can go nuts .
I'm thinking documents such as photos, reports... maybe even videos? Insurances need to keep those kind of documents quite often. So the storage requirement could be pretty high, don't you think? And will this be "for a lifetime", or with a limited life? I'm mentioning this because the blockchain is all about durability, BUT when you store some private files that concern people (which is the case with insurances and banks), aren't you supposed to keep those files for a limited amount of time? RGPD and stuff...
I intended it to just be used for simple data types such as text data to keep the footprint small. The last thing I would want is a super huge chain requiring multiple TBs to hold. I haven't quite gotten to building the API for it but the thought is to have a configurable API that business or private entities can use to store decisions, audit points, links, etc. to prove that it happened and can't be changed. Knowing full well that most companies don't want to store private things in the clear I want to enable them to encrypt their data points using their client's keys which will be housed in the Lytix client. That way they can safely store data in the clear but in encrypted form. For a solution like this there will undoubtedly be use cases where a company will want off site or private chains to store data. This is where you all will benefit as well. If that happens and we are approached to develop a custom chain then I will transfer the proceeds to the community via a buy back program. Also, if for some reason we are bought out completely I plan on doing the same. We are kind of equal partners in this venture. So, depending on some of the initial testing and development of the API we may put maxnodes on a separate chain to ensure that the regular chain doesn't get overloaded and too heavy. Performance and stability is a key differentiator of our chain and I will not introduce something to the environment that will betray those hard fought wins. The big thing is immutable - that means never change. So, that has also put me on a path of well, what if someone uploads something like porn, or criminal activity or possibly use it to funnel private messages for terror or something awful. That would be tough for me to swallow considering how clean we've been running our community and the good folks we have in it. So, that being said, we may have to put some scrubbing feature in to prevent that. It's a tough call, but working in ops for ever I understand that things will go wrong and there needs to be an out. I'll keep that in mind as I develop the API. |
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you all are super nice. Out community is our strength for sure. We have probably the best folks involved that I have ever seen. Very positive, fun and engaging.
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quite interesting and innovative!
are there any other projects around with maxnodes?
Just got a little confused on how this will affect the emission curve.
will the LYTX per block remain the same or there are some changes coming to it with the release of maxnodes?
I don't know of anyone out there that actually has a tiered system. It's possible someone has one, but with a new shtcoin every hour anything is possible. What I am currently testing is the reward system. I am adding this in addition to the current allocated rewards: int64_t GetMaxnodePayment(int nHeight, int64_t blockValue, int nMaxnodeCount, bool isZPIVStake)
{
int64_t ret = 0;
if (Params().NetworkID() == CBaseChainParams::TESTNET) {
if (nHeight <= 499) {
ret = 0;
} else if (nHeight > 499 && fMaxNodeT1) {
ret = blockValue * 5;
} else if (nHeight > 499 && fMaxNodeT2) {
ret = blockValue * 7.5;
} else if (nHeight > 499 && fMaxNodeT1) {
ret = blockValue * 10;
}
I will test this to see if it works. It's currently in main.cpp. As far as emissions go, this reward system will most likely undergo a lot of change. For the regular masternode staker rewards they will remain on the same track and not change at all. For each data put and pull there will be a cost that will be awarded to the maxnode owner. I am thinking along the lines of 0.1 LYTX for a put and 0.05 LYTX for a pull. Transactions could be heavy and with a limited supply of LYTX (100 mil) enterprises may run out. This will undoubtedly be under revision as we start to get use cases together and make partners to use the system. |
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white paper link goes to this:
A 404 error occurred
Page not found.
The requested URL could not be matched by routing.
No Exception available
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are there any honest projects out there?
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Maxnodes are starting to come together, folks
<...>
any info on what will be the price and metrics for Maxnodes already? The Maxnode system is unique to Lytix. Maxnodes will hold the open APIs that entities will be able to use to store data, decisions, or any other configurable items into the blockchain. They will come in 3 tiers and cost 50,000 LYTX for Tier 1, 75,000 for Tier 2 and 100,000 for Tier 3. They will also receive 10x for tier 1, 15x for tier 2 and 20x for tier 3 of the rewards for each block. They will be the only points of entry to the data storage and decisioning matrix with the Lytix blockchain. Max nodes are unique and identified by a cryptographic signature that will tie it to the clients that own and use that Max node. Max nodes can also be private and the information stored and the decisions tracked can also be private. If the entries are deemed private they will be signed with the cryptographic signature and encrypted before placement into the blockchain. Only key holders that are part of that group will be able to view and decrypt that information. Maxnodes will also receive LYTX for each storage transaction. The cost of these transactions is still in development, but the current thought is to be 1 LYTX or a fraction of a LYTX. As maxnodes move through testing we will have a better idea of how much it will cost to insert and retrieve data elements. Maxnodes will uniquely be able to process these transactions. Maxnodes will not process regular transactions like Masternodes and will nto be part of their network. The maxnode network will be the third tier in the ecosystem. Maxnodes will also differ from Masternodes in that they will not participate in the budget voting or proposal submission process. That will stay a Masternode function and not be a part of the maxnode system now or in the future. Reasoning behind this is to keep the systems separate and the functions specialized for each tier. The maxnode tiered system is still in development to decide which functionality will be housed in each tier. Some proposals have defined the following: TIER 1 - 50000 collateral - secure node for read-only API functionality TIER 2 - 75000 collateral - node with atomic swap capabilities for dex functionality and partial API functionality TIER 3 - 100000 collateral - node with atomic swap capabilities for dex functionality and full API functionality
those are what we are working with at the moment. It can certainly change through testing |
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