Mine VNL by opening a Node... not just PoS an incentive reward for superpeers

[bitcoin carpenter]

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

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[Liquid71]

So does this mean that skynet is self aware 

[PirateChain]

So a person pays 9999 VNL coin deposit and sometimes gets 1% of the block reward. 

1. How much is the block reward?

2. How often can a person expect to win?  Like, lets say there are 500 nodes? How often would somebody win that 1% block reward?

And, are there 500 nodes?

[GriffinHeart]

Huh, well that's a heck of a bribery tool on the developer's part.
Pretty clever if you ask me, securing the network while getting a reward.
There are a few limitations though, I think people will be blinded by the "FREE VNL! AWWW YISSS!"

[h1gh1s6]

Take a look at these links to see how many superpeers there are. Keep in mind, the 10,000 VNL collateral is currently not required, so I would expect this number to drop a bit once that is enforced at block 220000.

http://vanillacoin.net/network/graphfullscreen.php
http://vanillacoin.net/network.php

[bigfryguy]

So a person pays 9999 VNL coin deposit and sometimes gets 1% of the block reward.  

1. How much is the block reward?

2. How often can a person expect to win?  Like, lets say there are 500 nodes? How often would somebody win that 1% block reward?

And, are there 500 nodes?

1)at the moment block reward is 61.  it gets reduced by 1/6th every 50k blocks

once enforcement has started, probably this weekend, every block(I think) will give up a reward  

2) there are 700ish  blocks a day so devide 700/ number of superpeers that meet the requirements.
    at the moment if enforcement was in place and you had your wallet open continuously for a few days it would be around 7 times a day.
    unfotunatley enforcement hasnt stopped yet so only about half to two/thirds of the miners are giving up the reward

sorry didnt realize half the blocks are PoS, John says there are only 21000 coins/day atm, so take  whatever %incentive is and/by the amount of superpeers running, this will give you your daily reward

[bigfryguy]

made a how to in altcoin discussion
https://bitcointalk.org/index.php?topic=1190741.0

should help you get up and running

only 4500 blocks aprox 5 days before this ramps up.



HAVE YOU GOT YOUR PEER UP AND MINING YET?

[bitcoin carpenter]

Nice helpful link

https://talk.vanillacoin.net/topic/212/running-some-extra-superpeer-out-of-a-vm-and-cheap-vps-vpn

[bigfryguy]

3500 blocks left until % starts increasing, and collateral kicks in