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181  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Nxt :: descendant of Bitcoin on: October 16, 2013, 05:57:28 AM
255 transactions is a good number.  255 fits 8 bits and 255 * 128 b fits 32 Kb.


UPDATE

Added a button to generate authorization tokens that can be used on third-party websites.  Such token identifies an account owner and removes necessity in registration.  Using a token any website can get the account id (for withdrawals and other needs) and make sure that a user is the legitimate owner of the account.

Authorization workflow
1]  Unlock an account in Nxt client
2]  Press KEY button and enter the website url
3]  Copy a token (160 chars) and paste it on the website to log in
182  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Nxt :: descendant of Bitcoin on: October 15, 2013, 12:28:14 PM
I'm working on blockchain synchronization and have to decide the maximum number of transactions in a single block.  I think that a small number will lead to fee competition, which is good for miners but bad for users.  Any suggestions?
183  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Nxt :: descendant of Bitcoin on: October 14, 2013, 07:27:52 PM
UPDATE

A version with working MY TRANSACTIONS section deployed.  Now you can see the history of your transactions.  The blockchain was reseted to block 0.

P.S.  http://88.198.210.245:7875
184  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Nxt :: descendant of Bitcoin on: October 14, 2013, 09:37:47 AM
No, higher dispercy of coins = higher odds to generate a block.  With 10 accounts holding 100 mil coins each the base target should be 76.8%
185  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Nxt :: descendant of Bitcoin on: October 13, 2013, 05:48:11 PM
I see someone is adding transactions non-stop.  Is it a stress-testing or a DoS attack?
186  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Nxt :: descendant of Bitcoin on: October 13, 2013, 05:45:06 PM
There will be 1,000,000,000 coins.  And amounts can be only whole numbers.  Later we can add fractional numbers but now it would be inconvenient.
187  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Nxt :: descendant of Bitcoin on: October 13, 2013, 12:18:47 PM
Estimated time changes each block due to retargetting and different block hashes.  10'000 NXT gives you 0.001% to generate a block.
188  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Nxt :: descendant of Bitcoin on: October 13, 2013, 10:55:30 AM
UPDATE

A version with mining is deployed.  Visit http://88.198.210.245:7875 and open BLOCKS widget.  Use any digit as a secret phrase to unlock one of the funded accounts and send some money to your own account (limited to 10,000 at once).  After a confirmation you will be able to generate blocks as well.

Now we are testing the retargetting.  100 % base target equals to the target that lets to generate one block per minute with 1,000,000,000 coins on the balance.  Actual generation time is displayed on BLOCKS widget in RECENT BLOCKS section.
189  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Nxt :: descendant of Bitcoin on: October 12, 2013, 09:50:24 PM
Anyone can test it.
190  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Nxt :: descendant of Bitcoin on: October 12, 2013, 04:35:41 PM
I have done with the mining.  Tomorrow I will have it implemented in the web client and you will be able to watch the blockchain growing.
191  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Nxt :: descendant of Bitcoin on: October 10, 2013, 07:05:26 PM
UPDATE

Added transaction handling.  At http://88.198.210.245:7875/ you can see how it's implemented in the interface.

How to send money
1]  Go to http://88.198.210.245:7875/
2]  Click the orange lock to unlock an account
3]  Enter any digit into SECRET PHRASE field, for example "1" (the genesis block contains only 10 addresses with 100 mil coins on each)
4]  Click the purple arrow in the top right corner
5]  Fill the form, amount must be not greater than 10,000 and fee not greater than 100 (limited for testing)
6]  Deadline (in hours) can be less than 1, enter 0.1 to set it to 6 minutes
7]  See the balance adjusted and the transaction appearing in the unconfirmed transactions list

If a transaction is not included into a block (it's not because mining is in development yet) then after the deadline is reached it will be removed.  We tested that transactions are correctly propagated over the network (sent some from one peer and watched them appearing on another).

Now I'm working on the most interesting part -- the mining.  Stay tuned.
192  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Nxt :: descendant of Bitcoin on: October 09, 2013, 01:21:55 PM
I asked the support of one exchange.  They said Nxt API is non-standard, not like cookie cutter altcoin JSON-RPC API, and requires some effort to add it to the exchange.  Also I don't want Nxt to become just another pump-n-dump altcoin, Bitcoin-to-Nxt-and-back gateway is more preferable.  I'll think of it later.
193  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Nxt :: descendant of Bitcoin on: October 09, 2013, 09:55:44 AM
I can not afford to spend 100 BTC.  What about 20 BTC for the exchange?
194  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Nxt :: descendant of Bitcoin on: October 08, 2013, 01:03:32 PM
We need someone to launch services available shortly after the Nxt launch.  An exchange, a gambling site, a faucet, etc.  Post in this thread your offer (what service, when planning to open and how much in bitcoins you want as a bounty).  Feel free to ask anything about Nxt API.
195  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Nxt :: descendant of Bitcoin on: October 08, 2013, 07:39:45 AM
Nxt doesn't need 4000 BTC for a huge success, it needs 4000 participants.  I agree that critical mass is important, not sure about an early adopter bonus though.  First let's get something working.


To keep you updated, here are some technical details:

Address length - 8 B (max 20 chars in human-readable notation)
Private key length - 32 B
Public key length - 32 B
Signature - 64 B
Block header length - 192 B
Transaction length - 128 B

Each transaction has "deadline" value to limit time it can be added into a block.  Days when you send a transaction and wait a whole day to get it confirmed have gone for good.  Now you can set deadline to 5 minutes and if it's not confirmed then resend it with a higher fee.
Also each transaction can be marked with "id" (8 B length) to help merchants to identify your payment.  Not necessary to create a separate address for each customer anymore.
196  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Nxt :: descendant of Bitcoin on: October 07, 2013, 12:49:11 PM
Let me cite Bitcoin Magazine (http://bitcoinmagazine.com/6528/what-proof-of-stake-is-and-why-it-matters/)

Quote
The reason why Satoshi could not have done this himself is simple: before 2009, there was no kind of digital property which could securely interact with cryptographic protocols. Paypal and online credit card payments have been around for over ten years, but those systems are centralized, so creating a proof of stake system around them would allow Paypal and credit card providers themselves to cheat it by generating fake transactions.
197  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Nxt :: descendant of Bitcoin on: October 07, 2013, 08:32:49 AM
Alice has 2500 nxts on her account.  Last time she found a block 4 days ago.  Her money is like a mining rig with hashpower equal to 2500 * 4 = 10000 GH/s.
Bob has 1000 ntx on his account.  He was on vacation and hasn't opened his account for 20 days.  His money is like a mining rig with 1000 * 20 = 20000 GH/s hashpower.
Each time Alice or Bob opens their account they have a chance to generate a block.  More money they have, higher a chance to do it.  More time passed since the previous generated block, higher a chance to generate a new one.
Even a small amount can generate a block by accident.
An exchange that holds coins of its customers can afford to provide the service with 0% fee.  It will still earn money via block generation.

After thinking about the mining algorithm I came to conclusion that original proof-of-stake used by PPC and NVC is a bit flawed.  Bob could accumulate small amounts on different accounts during a long period of time and then attempt a 51% attack.  Artificial limits like max 90 days don't seem to work as intended.  Nxt will use a different proof-of-stake approach, I need time to nail some details and then I'll post them here.
198  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Nxt :: descendant of Bitcoin on: October 07, 2013, 06:25:53 AM
Important note

I decided to use Ed25519 instead of the standard Java ECDSA.  It means that "naig.class" shouldn't be used for vanity address generation anymore.  But you can use Nxt web client to choose a cool-looking address.  The client is being developed so account locking/unlocking and peer handling are the only features implemented yet.

At the moment only one boot-strapping server is available:  http://88.198.210.245:7875

How to generate an address:
1]  Visit http://88.198.210.245:7875
2]  Click on the orange lock in the top left corner
3]  Type a secret phrase, later it will be used to unlock your account
4]  Hit OK button
5]  The address will appear next to the lock icon


PM me if you can contribute to the project development by providing a server that will be used as a boot-strapping node.
199  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Nxt :: descendant of Bitcoin on: October 02, 2013, 10:23:23 AM
I created a small program for address generation.  https://mega.co.nz/#!94IETDZL!FRbFAnAi4uu4G5dh6HUSvmHfgK5GXKsh4NWdgY2avJ0

How to use it

1]  Download "naig.class" file
2]  Type "java -cp . naig SECRET_PHRASE"

You must have Java RE installed.

The secret phrase should be very long, it will be truncated to the first 100 chars though.  You'll get a number that can be used to receive coins (address).  Number's length may vary from 1 to 20 chars depending on the secret phrase.  While you are waiting for the release you can try to generate a short memorable address Wink
200  Alternate cryptocurrencies / Altcoin Discussion / Re: 6 days in the CGB blockchain on: October 01, 2013, 10:09:51 PM
As initially planned, we are presently researching the possibility of changing this design and becoming the first PoS only crypto commodity and phasing out PoW completely, sorry miners. In such a scenario all transactions would be confirmed via PoS blocks making CGB the most energy efficient crypto commodity.

I like competition.  You should do the phasing by the end of this year otherwise you won't be the first PoS only crypto.

https://bitcointalk.org/index.php?topic=303898.0
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