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

[hardlock]

Hello!
How do I use a P-O-S?  Does it require any special actions?

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[baloo_kiev]

Hello!
How do I use a P-O-S?  Does it require any special actions?

To generate blocks with POS, you must have inputs bigger than 1 NVC and older than 30 days. Probability of block generation (per second) is

Code:

Sum_coins * (Age_days - 30) / (2^32 * POS_diff)

Reward per coinyear is

Code:

(0.03125 / POS_diff)^(1/6) coins

Note that when calculating reward, the coinage is rounded to integer coinyears. That means that if you have input of 10 coins and find a block on 35th day of its age, you will be rewarded for 0.96 coinyears, which rounds to zero.

[Balthazar]

NVC 0.4.4 client builds will be available for testing soon.

Already merged changes:

• Fix for integer division-related PoS rewards calculation issue (becoming active since 20 Sep 2013);
• The final correction to PoS ROI curve (1/6 ==> 1/3 switch since 20 Oct 2013);
• Upper limit for coinstake reward (will become active since 20 Oct 2013, description is available here);
• Private keys dump and import functionality (dumpwallet and importwallet RPC calls);
• User will be able to select wallet file for initialization by using -wallet=filename.dat option;
• The -walletnotify=cmd option, provides an opportunity to execute external script on new transactions;
• getbestblockhash RPC call added, also some getmininginfo, getinfo and listunspent improvements;
• novacoin: URIs support is active now;
• QR codes generation support is active now;
• Some optimizations and bugfixes.

Windows, Linux and Mac OS X binaries are planned for publishing today.

[Balthazar]

Please note that http://nvcpool.com/ missed the mandatory update and works on orphaned chain since 20 July 2013.

https://bitcointalk.org/index.php?topic=214574.msg2770853#msg2770853

It seems that you missed mandatory update.

https://bitcointalk.org/index.php?topic=143221.msg2728029#msg2728029

That's why "current block" field value is frozen at 32,674.

Pool Hash Rate   8.813 Mhash/s
Current Total Miners   9
Current Block   32,689
Current Difficulty   38
Last Block Found   27,046

The actual main chain length is 34533 blocks currently, difficulty is 332.551.

[hardlock]

To generate blocks with POS, you must have inputs bigger than 1 NVC and older than 30 days. Probability of block generation (per second) is

Thank you for explanation.

[sheinsha]

Hello!
How do I use a P-O-S?  Does it require any special actions?

To generate blocks with POS, you must have inputs bigger than 1 NVC and older than 30 days. Probability of block generation (per second) is

Code:

Sum_coins * (Age_days - 30) / (2^32 * POS_diff)

Reward per coinyear is

Code:

(0.03125 / POS_diff)^(1/6) coins

Note that when calculating reward, the coinage is rounded to integer coinyears. That means that if you have input of 10 coins and find a block on 35th day of its age, you will be rewarded for 0.96 coinyears, which rounds to zero.

Hi there, if i have 10 NVC for a week, then i constantly mine a few and send them (only whats mined) to another wallet for two months, will those first 10 blocks count towards POS generation during that time?

[Balthazar]

Hi there, if i have 10 NVC for a week, then i constantly mine a few and send them (only whats mined) to another wallet for two months, will those first 10 blocks count towards POS generation during that time?

Yes, if this transactions will be more than 30 days old. Only transactions with age greater than 30 days could be used for proof-of-stake blocks generation.

P.S. Mac OS X build published, need some testing.

http://sourceforge.net/projects/novacoin/files/NovaCoin-Qt-0.4.4pre.dmg/download

[Balthazar]

0.4.4pre windows installer published:

http://sourceforge.net/projects/novacoin/files/novacoin-setup-win32-0.4.4pre.exe/download

[Bitinvestor]

0.4.4pre is available for testing.

Could you please explain the meaning of minweight, maxweight, and passiveweight?

There also seems to be a bug because my client reports this:

"stakeinterest" : 1000000,

[Balthazar]

Bitinvestor

minweight - weight of inputs aged from 30 to 90 days;
maxweight - weight of inputs which are more than 90 days old;
passiveweight - weight of inputs which has age lower than 30 days.

There also seems to be a bug because my client reports this

It's not a bug, it's a real value (1 coin per coin*year now). This caused by two events:

• Minimum PoS difficulty was changed to 0.031 in v0.4.2 client;
• BTC-e burned available coindays in their wallets by sending all deposits to local address, and switched off the stakes generation feature. We asked BTC-e to perform this action, in order to make network more decentralized. As the result, PoS difficulty went down.

This will be normalized in a next few months.

P.S. 0.4.4pre seems quite stable, so release scheduled for this sunday. In addition to published changes it also will include upper limit for coinstake reward (will be calculated using linear function of PoW reward).

[Bitinvestor]

It's not a bug, it's a real value (1 coin per coin*year now).

Sorry, it still doesn't make sense to me. Please explain the meaning of stakeinterest.

In addition to published changes it also will include this commit.

That's a good idea, but you must tell us what the upper limit is (not everybody is a programmer).

[Balthazar]

Sorry, it still doesn't make sense to me. Please explain the meaning of stakeinterest.

The stakeinterest field represents reward for 365 coin*days in satoshi units. I.e. 1000000  value means that you can get 1 NVC (1000000 of satoshis) reward in case if you have

• 1 NVC output with 365 days age
• 10 NVC output with 36.5 days age
• etc

That's a good idea, but you must tell us what the upper limit is (not everybody is a programmer).

It's not ready yet, that's why there is no full explanation at the moment, but it's quite simple. Just one example, if you have two options:

• 1000 coins input
• 10 x 100 coins inputs

there will be no difference in profitability, which is wrong.

Smaller inputs should be prioritized, because it's significantly better for the network, that's why we need this upper limit for the reward. To make sure that there will be no malicious stakeholders, which are able to manipulate by PoS difficulty through using larger inputs instead of smaller ones.

[Balthazar]

NVC client 0.4.4 update released.

Sources tree: https://github.com/CryptoManiac/novacoin/
Win32 installer: http://sourceforge.net/projects/novacoin/files/novacoin-setup-win32-0.4.4.exe/download
Win32 nosetup: http://sourceforge.net/projects/novacoin/files/novacoin-nosetup-win32-0.4.4.zip/download
Ubuntu LTS x86_64: http://sourceforge.net/projects/novacoin/files/novacoin-0.4.4-ubuntu-lts-x86_64.tar.bz2/download
Mac OS X: http://sourceforge.net/projects/novacoin/files/NovaCoin-Qt-0.4.4.dmg/download

Changes list is available here:

https://bitcointalk.org/index.php?topic=143221.msg2831785#msg2831785

Message with testing builds is deleted now.

[Balthazar]

NVC client 0.4.4 update released.

Sources tree: https://github.com/CryptoManiac/novacoin/
Win32 installer: http://sourceforge.net/projects/novacoin/files/novacoin-setup-win32-0.4.4.exe/download
Win32 nosetup: http://sourceforge.net/projects/novacoin/files/novacoin-nosetup-win32-0.4.4.zip/download
Ubuntu LTS x86_64: http://sourceforge.net/projects/novacoin/files/novacoin-0.4.4-ubuntu-lts-x86_64.tar.bz2/download
Mac OS X: http://sourceforge.net/projects/novacoin/files/NovaCoin-Qt-0.4.4.dmg/download

Changes list is available here:

https://bitcointalk.org/index.php?topic=143221.msg2831785#msg2831785

Message with testing builds is deleted now.

Important addition: if you are using win32 installer then make sure that 0.4.4pre was removed before 0.4.4 release installation. It's required because installer will not update 0.4.4pre files automatically.

From this release we'll apply new version numbering scheme in order to prevent such problems in the future.

X.Y.Z

• Odd value for Y and Z reserved for unstable branches/releases;
• Even values means stable branches/releases.

E.g. 0.5.x will be unstable branch, 0.4.5 will be experimental release.

[CoinBuzz]

Hello!
How do I use a P-O-S?  Does it require any special actions?

To generate blocks with POS, you must have inputs bigger than 1 NVC and older than 30 days. Probability of block generation (per second) is

Code:

Sum_coins * (Age_days - 30) / (2^32 * POS_diff)

Reward per coinyear is

Code:

(0.03125 / POS_diff)^(1/6) coins

Note that when calculating reward, the coinage is rounded to integer coinyears. That means that if you have input of 10 coins and find a block on 35th day of its age, you will be rewarded for 0.96 coinyears, which rounds to zero.

Do we need to enter any command for it? or it is enabled be default ?

[Balthazar]

Do we need to enter any command for it? or it is enabled be default ?

It's enabled by default and requires no user actions.

[Balthazar]

Win32 P2Pool was rebuilt using current git snapshot:

http://sourceforge.net/projects/novacoin/files/p2pool_win32_p2pool-11.4.2.zip/download

[Jude Austin]

I have added Novacoin to P2Pool.org.

Check it out!

Happy mining!

[Balthazar]

I have added Novacoin to P2Pool.org.

Check it out!

Happy mining!

+1

But i should warn you that current NVC p2pool implementation requires a public key, not an address.

[Jude Austin]

I have added Novacoin to P2Pool.org.

Check it out!

Happy mining!

+1

But i should warn you that current NVC p2pool implementation requires a public key, not an address.

Well that could become an issue!

The user has to use their public key correct?

I need to make a little tutorial for users of P2Pool.org who want to mine Novacoin.