just a little heads up for those who want in on VNL incentive before collateral

[bitcoin carpenter]

Just posting this so there will be no whiners once collateral is required to get incentives from becoming a superpeer.

Incentive starts tomorrow.
0 collateral required until block 222000.


I would rather you don't get a full node working so I can get more of the reward, but as I said before I don't want to hear whiners later.

Join VNL irc channel to learn more.

[bitcoin carpenter]

One little bump so this doesn't get lost right away


And now you can't say the nobody told you

[jimlite]

Not sure why you have to start a whole new thread for this. VNL has been around for almost a year and has a forum of its own as well as on here, vanillacoin.net, and the wiki.

[bitcoin carpenter]

Why?

Because everyone is always complaining about how things in VNL get done on irc and that the announcement thread didn't let them know..

This thread will disappear into obscurity soon enough, and I thought it was announcement that people would like to know.

1% of 10000 blocks going to people who have active nodes

[bitcoin carpenter]

Thanks for this traumschiff


Quote from: traumschiff on September 18, 2015, 11:05:29 AM

PSA on the Node Incentives [FAQ]

Whate is the Node Incentives system?

The node incentive system has been introduced with the recent updates. Super Peers will get honored with a % of PoW in exchange for their honest work on the network

Paper: https://github.com/john-connor/papers/blob/master/incentive.pdf

Basic information (Wiki):http://vanillacoin.net/wiki/Technologies/Node%20Incentives.md

Progress thread: https://talk.vanillacoin.net/topic/207/incentive-system

Collateral algorithm: https://gist.github.com/john-connor/b6799efff326ff77d418

Reward algorithm: https://gist.github.com/john-connor/967ba7f7e9dd0ec1f7a9


When will the Node Incentives go live?

Node Incentives will go live with 1% of PoW reward with block 210,000. Estimated time: 09/19/2015 11:03:22 - 21h 12m 1s


What do I need to be able to get rewards?

- You will need a wallet with 9999 Vanillacoins when block height will be > 220,000

- Your router needs to have the port open that you have in your config.dat file (Windows: Local Disk (C:) > Users > Your User > AppData > Roaming > Vanillacoin)

- Your wallet needs to have a 15 min uptime currently (should be increased later)


What are the rewards?

The exact reward structure can be found in the links above, but the range is 1-40% of the PoW rewards


Do I need to unlock the wallet?

Unlock once after you sent the Vanillacoins needed, but you can relock it after


Any info about the Node Incentive via the wallet?

Type in console: getincentiveinfo


How much will system resources play a part in the incentive?

More bandwidth usage to spread the blockchain, & more daemon call (to send the blocks on the network)


What is the limitation for the Super Peers?

Only 1 Super Peer / IP adress is allowed

[anticlimax]

Okay.. So you rebranded masternodes and implemented them in vnl.. What's to complain about?

[pseudonymdude]

Okay.. So you rebranded masternodes and implemented them in vnl.. What's to complain about?

Anyone can be a super peer.  (A super peer is just a wallet that has it's port opened, has a certain amount of uptime and might have to have certain bandwidth, etc. in the future.)  In order to get node incentives, you will need to hold a specific amount of VNL.

To be a masternode you need to hold a specific amount of dark.

Also, with VNL the process is easier.  You just have to send the coins in one transaction to the main address on the wallet (with the random Vanillacoin port open).

With Dash, there are extra steps.

[bigfryguy]

superpeers are nothing like masternodes

superpeers are just unfirewalled peers something that a healthy blockchain needs

collateral and incentives are just a way to reward superpeers for doing thier job.  well the incentive is a reward, while the collateral is a way to make it so there there is better distribution of the incentive.

[john-connor]

Okay.. So you rebranded masternodes and implemented them in vnl.. What's to complain about?

Masternodes are centralised because they require administration by their owners/operators. Super peers are 100% autonomous and decentraliszed and require no administration from a human aside a possible upgrade. If somebody happens to have N balance the super peer can get an incentive reward. The collateral backed incentive reward is an "opt-in" technology and not a required one like with the masternode system. That said anyone can be a super peer because if it were designed any other way the network backbone could collapse due to a market crash as masternode operators flee the system to dump their holdings. So in conclusion super peers are immune to changes in the market because they do not require any funds to operate.

Thank you for your support.

[criptix]

can you explain why the need of 9999 coins after block x?

with the collateral it looks kinda like pos with dynamic interest ( 1-40% ).

if i understood something wrong please feel free to explain.

[pseudonymdude]

can you explain why the need of 9999 coins after block x?

with the collateral it looks kinda like pos with dynamic interest ( 1-40% ).

if i understood something wrong please feel free to explain.

It's not interest.  Interest remains at a low 0.7%.  Also, the coins aren't new.  They're a percentage of POW rewards.  Unlike masternodes, wallets with any amount can be a super peer (your random vanillacoin port must be open, it also has some uptime requirements, etc.), but if you have a super peer and you send 9999 collateral to the main address in one transaction, you are then eligible to receive node incentives.  Each super peer on a unique IP has a chance at the percentage of POW rewards.  Two super peers on the same IP should each get the percentage of POW rewards half as often as one super peer on a unique IP.  So if you have over 10,000 VNL and want more node incentives, you need more IP addresses.

[bitcoin carpenter]

The collateral is there to make sure that those receiving rewards after block 220000 have a vested interest in the well being of the network..

As said before anyone can run a super peer, but those that care enough to see vnl succeed will be rewarded.

Also it is a great way to remove coins from the exchange during early heavy reward inflation.

It just makes sense/cents.

One of the biggest obstacles of early coin development is the pressure large miner farms put on early investors, incentive helps to mitigate this problem passing on rewards to those that are strengthening the network.

This has been debated constantly in bitcoin.

[vanillagalaxy]

node incentive:game changer is coming 

[bigfryguy]

looks like there are only 8000 blocks to go before collateral will be required to get rewards from the mining pools.


get your peer up and running now while its still free!!!

oh btw  John said enforcement for pools to have to give a reward will be happenning sometime this week...

CANT WAIT TO TAX SOME OF THOSE HIDDEN POOLS!!!

[bigfryguy]

https://i.imgur.com/DpFhKQ7.png

here is a good picture of incentve reward

[illodin]

can you explain why the need of 9999 coins after block x?

with the collateral it looks kinda like pos with dynamic interest ( 1-40% ).

if i understood something wrong please feel free to explain.

It's not interest.  Interest remains at a low 0.7%.  Also, the coins aren't new.  They're a percentage of POW rewards.  Unlike masternodes, wallets with any amount can be a super peer (your random vanillacoin port must be open, it also has some uptime requirements, etc.), but if you have a super peer and you send 9999 collateral to the main address in one transaction, you are then eligible to receive node incentives.  Each super peer on a unique IP has a chance at the percentage of POW rewards.  Two super peers on the same IP should each get the percentage of POW rewards half as often as one super peer on a unique IP.  So if you have over 10,000 VNL and want more node incentives, you need more IP addresses.

Seems exactly like masternodes then.

[bitcoin carpenter]

can you explain why the need of 9999 coins after block x?

with the collateral it looks kinda like pos with dynamic interest ( 1-40% ).

if i understood something wrong please feel free to explain.

It's not interest.  Interest remains at a low 0.7%.  Also, the coins aren't new.  They're a percentage of POW rewards.  Unlike masternodes, wallets with any amount can be a super peer (your random vanillacoin port must be open, it also has some uptime requirements, etc.), but if you have a super peer and you send 9999 collateral to the main address in one transaction, you are then eligible to receive node incentives.  Each super peer on a unique IP has a chance at the percentage of POW rewards.  Two super peers on the same IP should each get the percentage of POW rewards half as often as one super peer on a unique IP.  So if you have over 10,000 VNL and want more node incentives, you need more IP addresses.

Seems exactly like masternodes then.

Similar, but very different.

Masternodes are a point of failure being that they are the only nodes facilitating things like Darksend.  They are payed for and are the only nodes that do a specific job.
Super peers are unlimited in number, and they don't do anything different than peers, they just do it better and strengthen the network.

Collateral and reward are just a way of rewarding those nodes which have a vested interest in VNL and are helping to strengthen the network.

Masternodes quasi-centralize a system while Super peers just strengthen a decentralized network.

[monsterer]

Super peers are unlimited in number, and they don't do anything different than peers, they just do it better and strengthen the network.

Collateral and reward are just a way of rewarding those nodes which have a vested interest in VNL and are helping to strengthen the network.

Masternodes quasi-centralize a system while Super peers just strengthen a decentralized network.

So why do they need to post collateral, then?

[bigfryguy]

collateral and incentives are seperate from superpeers

though you must be running a superpeer to get the reward, its basically just saying those with 10k VNL and a superpeer get to tax the miners.

what it isnt saying is that only those with enough collateral get to be superpeers.

read about it on the wiki.

[monsterer]

collateral and incentives are seperate from superpeers

though you must be running a superpeer to get the reward, its basically just saying those with 10k VNL and a superpeer get to tax the miners.

For what purpose? They must have an influence, otherwise they are pointless.