[ANN] official NovaCoin thread - the original PoS+scrypt coin.

[whitedragon]

Market cap jumped today, currently $1,258,427.

 

NVC is my mainstay these days. 

[digitalindustry]

just a question i was transferring 1 nvc - and it wants to chage 0.1 trans fee - is this a poS thing?

[RoadTrain]

just a question i was transferring 1 nvc - and it wants to chage 0.1 trans fee - is this a poS thing?

The fee is set at 0.01 per KB. So probably your transaction has many inputs and therefore costs more to process.

[digitalindustry]

just a question i was transferring 1 nvc - and it wants to chage 0.1 trans fee - is this a poS thing?

The fee is set at 0.01 per KB. So probably your transaction has many inputs and therefore costs more to process.

what you just said makes Zero sense to me.

[Balthazar]

https://bitcointalk.org/index.php?topic=143221.msg2204320#msg2204320

According to currently online peer stats, 25% of online nodes upgraded to 0.4.2. Mining and stake nodes are almost all already running 0.4.2 (~100%). So, there is no chain fork possibility.

But if you are <=0.4.1 user, you need to apply the latest version update before dates, which are listed below.

• 18 days remaining to PoS ROI calculation switch. Starting from 20 June 2013 clients older than 0.4.1 no longer will be compatible with the main network.
• 48 days remaining to PoW spacing switch. Starting from 20 July 2013 clients older than 0.4.2 no longer will be compatible with the main network.

[digitalindustry]

https://bitcointalk.org/index.php?topic=143221.msg2204320#msg2204320

According to currently online peer stats, 25% of online nodes upgraded to 0.4.2. Mining and stake nodes are almost all already running 0.4.2 (~100%). So, there is no chain fork possibility.

But if you are <=0.4.1 user, you need to apply the latest version update before dates, which are listed below.

• 18 days remaining to PoS ROI calculation switch. Starting from 20 June 2013 clients older than 0.4.1 no longer will be compatible with the main network.
• 48 days remaining to PoW spacing switch. Starting from 20 July 2013 clients older than 0.4.2 no longer will be compatible with the main network.

I just got the latest client -

are you basically just saying update the client ?

also with the nvc.khore.org pool , does the payout come all in a bunch - most other pools i've been on when they find a block you get a fraction - i've been on it for hours with 0 in the account ?

yet i'm there on the pool stats - @ 7th in rank. on #.

[Balthazar]

https://bitcointalk.org/index.php?topic=143221.msg2204320#msg2204320

According to currently online peer stats, 25% of online nodes upgraded to 0.4.2. Mining and stake nodes are almost all already running 0.4.2 (~100%). So, there is no chain fork possibility.

But if you are <=0.4.1 user, you need to apply the latest version update before dates, which are listed below.

• 18 days remaining to PoS ROI calculation switch. Starting from 20 June 2013 clients older than 0.4.1 no longer will be compatible with the main network.
• 48 days remaining to PoW spacing switch. Starting from 20 July 2013 clients older than 0.4.2 no longer will be compatible with the main network.

I just got the latest client -

are you basically just saying update the client ?

also with the nvc.khore.org pool , does the payout come all in a bunch - most other pools i've been on when they find a block you get a fraction - i've been on it for hours with 0 in the account ?

yet i'm there on the pool stats - @ 7th in rank. on #.

Yes, I'm talking about upgrade. There is nothing to do if you are already on 0.4.2.

nvc.khore.org uses PPLNS system, it pays only from found blocks.

[digitalindustry]

cool thanks ! : D

[airborne305]

NovaCoin P2Pool, 1%, PPLNS, Atlanta, Georgia, US

http://s02.plurapool.com:8336/static/


original post, https://bitcointalk.org/index.php?topic=217232.0

[Balthazar]

airborne305
NVC P2Pool currently has no support for cooperative nodes, all payments will be performed only to your wallet. To prevent obvious questions you need to stop your node before there are any payouts done. New P2Pool with cooperative nodes support will be started two days later from the "fresh list", with the new shares chain.

[baloo_kiev]

airborne305
NVC P2Pool currently has no support for cooperative nodes, all payments will be performed only to your wallet. To prevent obvious questions you need to stop your node before there are any payouts done. New P2Pool with cooperative nodes support will be started two days later from the "fresh list", with the new shares chain.

By coincidence, I implemented mining to worker's address just a couple of days before (with your p2pool code). It has been running fine for 2 or 3 days in Bitbar network (which is NVC clone), finding blocks and paying out to miners. The patch is about 20 lines of awful hack-shit-code, but it works! To mine on a public node running this code, miner has to specify NVC public key (not an address!) as its username. Changes go down to this:

Code:

--- a/p2pool/work.py
+++ b/p2pool/work.py
@@ -5,7 +5,7 @@ import random
 import sys
 import time

-from twisted.internet import defer
+from twisted.internet import defer, reactor
 from twisted.python import log

 import bitcoin.getwork as bitcoin_getwork, bitcoin.data as bitcoin_data
@@ -14,6 +14,7 @@ from util import forest, jsonrpc, variable, deferral, math, pack
 import p2pool, p2pool.data as p2pool_data

 class WorkerBridge(worker_interface.WorkerBridge):
+    res2 = dict()
     COINBASE_NONCE_LENGTH = 4

     def __init__(self, node, my_pubkey, donation_percentage, merged_urls, worker_fee):
@@ -154,9 +155,32 @@ class WorkerBridge(worker_interface.WorkerBridge):
                 desired_share_target = bitcoin_data.difficulty_to_target(float(min_diff_str))
             except:
                 pass
-
-        pubkey = self.my_pubkey
-
+
+       pubkey = user
+
+       @defer.inlineCallbacks
+       def validate_pubkey(self, pubkey1):
+            res = yield self.node.bitcoind.rpc_validatepubkey(pubkey1)
+            defer.returnValue(res)
+
+       res1 = validate_pubkey(self, pubkey)
+
+       self.res2[pubkey] = 0
+
+       def mycallback(x):
+           self.res2[pubkey] = x
+
+       res1.addCallback(mycallback)
+
+       while self.res2[pubkey] == 0:
+           reactor.iterate(0.055)
+           time.sleep(0.001)
+
+       if not self.res2[pubkey]['isvalid']:
+           pubkey = self.my_pubkey
+       else:
+           pubkey=pubkey.decode('hex')
+
         return user, pubkey, desired_share_target, desired_pseudoshare_target

     def preprocess_request(self, user):

Was just about to run it with NVC, but now it already makes no sense) Original topic: https://bitcointalk.org/index.php?topic=217894.0

[SpaceCadet]

Does NovaCoin mint similar to the way PPC does?  If so, how do you set it up to mint with a locked wallet?  Does it unlock for minting the same way PPC does?  If so, could someone outline the steps to set it up?

Thx!

Update: Yep - followed the same steps as I do for PPC and it unlocked for minting...

[Balthazar]

Does NovaCoin mint similar to the way PPC does?  If so, how do you set it up to mint with a locked wallet?  Does it unlock for minting the same way PPC does?  If so, could someone outline the steps to set it up?

Thx!

Yes, it's similar.

[Balthazar]

Protocol update: Preconditions and prospects.

Just like PPCoin, NovaCoin uses ChainTrust score instead of ChainWork (used by BTC, LTC and another PoW-based systems).

We decided to implement the new chain trust score calculation algorithm. It will prevent pure PoS double-spend attacks even without broadcasted checkpoints. Now I'll try to describe, how it works in comparison with an old algorithm.

Old chain trust score calculation algorithm basics:

1) PoW block always adds 1 to current chain trust score;
2) PoS block adds (CBigNum(1)<<256) / (bnTarget+1) to chain trust score.

Result: we have dictatorship, stakeholders are Gods here.

Benefits: It's impossible to perform PoW-based double-spend or DoS attack.
Flaws:

• Owner of enough stake weight (25% of total weight or more) able to perform PoS-based double-spend or DoS.
• Double-spend could be prevented by broadcasted checkpointing.

New chain trust score calculation algorithm will be more complicated. Here is the concept (1/3 and 2/3 are parts of example, final ratio values can differ from this):

1) PoS block adds (CBigNum(1)<<256) / (bnTarget+1) to the total chain trust score only if it has PoW block as parent;
2) PoS block adds only 1/3 of "usual" PoS block trust score if it has PoS block as parent;
3) PoW block adds (CBigNum(1)<<256) / (bnPrevBlockTarget+1) to the total chain trust score, if it has PoS block as parent;
4) PoW block adds 2/3 of previous block trust score to the total chain trust score, if it has PoW block as parent.

Result: Hybrid chain always has higher trust score than pure PoW or pure PoS chain.

Benefits: It's impossible to perform pure PoW or PoS-based double-spend. DoS-like attack scenario is also impossible in such cases. Attacker must combine enough PoW & PoS generation power to get success.

Flaws:

• System will become slightly less energy efficient. But still more efficient than PoW-based system.
• 

According to release plan, new algorithm will be introduced in 0.4.3, but will be inactive on the main network until 20 Sep 2013.  

[dzyk]

good job, thanks

[Balthazar]

https://www.cryptsy.com/markets/view/13

 

[baloo_kiev]

Working public NVC p2pool node (with source code!) is here https://bitcointalk.org/index.php?topic=229641.0

[Balthazar]

I should note that it's highly recommended to set fee if you are running the public p2pool node (see --fee parameter description). Zero fee at public node introduces a chance to generate invalid block.

[Bitinvestor]

I'd like to report that the block explorer at novacoin.ru has been down for more than a day. 

[Balthazar]

It was shut down due to technical problem and will be started at the new location tomorrow.

There is another explorer online:

http://cryptocoinexplorer.com:6750/chain/Novacoin