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puwaha
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September 04, 2017, 04:19:27 AM |
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IMHO 42 ZEN is too low entry level for a Service Node. Whales would be able to manipulate the whole network..
Make it at least 100 ZEN and a reward ratio miners/nodes/governance at 65%/25%/10%
Nodes are important and they should be well paid.
I disagree. The whole point of the low barrier to entry is to have enough independent nodes to counter balance any "whales" that care to get into the node business. This is similar to the problem bitcoin faces where the very high hashrate requirements force centralization of large bitcoin farms, and keeps independents out of the race. At $10 a coin, it's already $420 to establish a node. If the price goes up or the required Zen per node goes up then it becomes harder for a small miner to get into the game. At $100 a coin, $4200 is a lot of scratch to come up with. It's a tough balance to tread for sure. |
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"In a nutshell, the network works like a distributed
timestamp server, stamping the first transaction to spend a coin. It
takes advantage of the nature of information being easy to spread but
hard to stifle." -- Satoshi
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innergy
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September 04, 2017, 06:29:31 PM |
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IMHO 42 ZEN is too low entry level for a Service Node. Whales would be able to manipulate the whole network..
Make it at least 100 ZEN and a reward ratio miners/nodes/governance at 65%/25%/10%
Nodes are important and they should be well paid.
I disagree. The whole point of the low barrier to entry is to have enough independent nodes.. Wrong. The count of the nodes doesn't depends on the entry level but on the expected annual income. I doubt there will be many at 3.5% block reward. The different entry level attracts different type of investors - newbies or pros, smart or not, rich or not, long term or not, etc. 100 ZEN entry will attract more smart, responsible long term investors, and more important, it will lock more ZENs at nodes so there will be less free ZENs at the exchanges. Higher demand at lower supply - you know where the price goes..  |
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beni1107
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September 04, 2017, 09:34:56 PM |
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posting again .... If i create VPS and deposit 42 zen's and if i choose to cancel the vps do i get my 42 zens back ? I am waiting for secure nodes gone thru your tutorials and im gonna run them, so this question is very important for me. Can someone answer ? And yes ill join slack  |
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Confucio
Member
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Activity: 87
Merit: 10
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September 05, 2017, 01:28:18 AM |
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posting again .... If i create VPS and deposit 42 zen's and if i choose to cancel the vps do i get my 42 zens back ? I am waiting for secure nodes gone thru your tutorials and im gonna run them, so this question is very important for me. Can someone answer ? And yes ill join slack You don't need to have the Zen on the VPS, you'll just have to link one address with at least 42 zen and send a small tx to confirm it's yours. |
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beni1107
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September 05, 2017, 07:12:25 AM |
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thats awesome. Waiting for secure nodes, and ill run plenty of them ASAP |
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z0n0
Legendary
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Activity: 1274
Merit: 1006
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September 05, 2017, 08:25:30 AM |
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Can someone make a tuturial video from start to finish on setting a node?! Please.
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MedaR
Legendary
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Activity: 2380
Merit: 1026
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September 05, 2017, 12:18:21 PM |
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Can someone make a tuturial video from start to finish on setting a node?! Please.
This team will prepare everything that is needed to set up nodes, videos tutorials and technical support. |
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z0n0
Legendary
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Activity: 1274
Merit: 1006
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September 05, 2017, 12:52:35 PM |
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Can someone make a tuturial video from start to finish on setting a node?! Please.
This team will prepare everything that is needed to set up nodes, videos tutorials and technical support. Thanks a lot! Great as always, keep it goin guys. |
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pier71
Newbie
Offline
Activity: 34
Merit: 0
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September 05, 2017, 05:10:26 PM |
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IMHO 42 ZEN is too low entry level for a Service Node. Whales would be able to manipulate the whole network..
Make it at least 100 ZEN and a reward ratio miners/nodes/governance at 65%/25%/10%
Nodes are important and they should be well paid.
I disagree. The whole point of the low barrier to entry is to have enough independent nodes.. Wrong. The count of the nodes doesn't depends on the entry level but on the expected annual income. I doubt there will be many at 3.5% block reward. The different entry level attracts different type of investors - newbies or pros, smart or not, rich or not, long term or not, etc. 100 ZEN entry will attract more smart, responsible long term investors, and more important, it will lock more ZENs at nodes so there will be less free ZENs at the exchanges. Higher demand at lower supply - you know where the price goes.. I am thinking that you are right and maybe also more than 100 could be better (200 or more). also a minimum requirement for a node (response/process time) could be a good think to have a good network. |
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dbc23
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September 05, 2017, 05:59:27 PM |
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Frankly I think the 42 zen/node is not bad at all. I'm partial to the number, given that it's the answer to the ultimate question anyways, but as has been said upthread there's an impetus to get as many secure nodes running as possible. If the barrier to entry is too high, and/or the node reward too low compared to that entry barrier it will greatly discourage people running them.
One of the unique features of ZEN is the secure node structure compared to many other multi-level PoW/PoS structures. Master node coins rely on either VERY early investors who have hands of steel or whales to purchase and operate the nodes. A DASH MN right now is out of reach for most normal human beings, even far less expensive coins like PIVX have an insanely high entry point to run a node, with very limited dividend payments (relative to other uses of that capital).
ZEN should work to build out the secure nodes and then encourage AS MANY PEOPLE AS POSSIBLE to deploy them. Keeping the coin requirement within reason is critical to that.
Also, as has been said already at $10 a ZEN, an SN is already a $420 buy-in, assuming ZEN will continue to appreciate in value, especially as coins are locked in nodes that only goes up. Reasonably $20-25 ZEN is not unbelievable, and then you're talking about <$1000 for one SN, that is NOT the same as a master node in concept or execution either, rewards will be lower.
It's about securing the chain, not making money as much.
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beni1107
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September 05, 2017, 06:57:06 PM |
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42 Zen is ok...200 or 100 is way to much...not for small investitors or miners like me |
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zuzuca
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September 05, 2017, 09:11:39 PM |
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so basically..i want to build a zen pool...a pool it should be able (theoretically ) to qualify for a secure node...i want to build this pool with z-nomp...can some of the veterans of the coin tell me if this soft has the ability to respond to those challanges in order for an extra reward? tx
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VoskCoin
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September 05, 2017, 10:16:14 PM |
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Hey guys put together a video on how to build a basic ZenCash miner, those who mine well . . you already know this and more! Hopefully this video helps someone new get into mining the coin as many people search for things such as how to build a zcash miner or how to build an ethereum miner . . i was one of them! https://www.youtube.com/watch?v=MMxNATc1JY0 |
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Andeze17
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September 06, 2017, 06:37:23 AM |
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Pretty cool! Great job guys. |
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JesusCryptos
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September 06, 2017, 08:26:53 AM |
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Zen is fork of zerocoin right? Then what is the state of growth plus is Zen dev also involve in zclassic?
We often see new cryptocurrencies being created due to hard forking an existing project. One of the latest projects to do so goes by the name of ZenCash, a privacy-centric coin which is directly hard-forked from ZClassic, which is a fork from ZCash. Now would be a good time to compare all three cryptocurrencies and see how they are different from one another. 3. ZenCash Although ZenCash was only recently introduced to the world, the token has gotten quite a lot of attention already. ZenCash focuses on privacy, and represents an “evolved form of ZK-SNARK technology.” It is a direct hard fork from ZClassic, a currency we will discuss in the next paragraph. One feature that makes ZenCash attractive to people is how it offers a protected communication protocol known as ZenTalk. Users can exchange short messages through this network, all of which is powered by blockchain technology. ZenCash has a maximum coin supply of 21 million, which is the same as Bitcoin. The governance of this project will be done through a Decentralized Autonomous Organization structure, which is funded by a portion of mining rewards. The DAO will also fund future developments and look for additional partnerships. People interested in a more technical explanation of ZenCash can check out the whitepaper. 2. ZClassic The ZClassic currency – listed as ZCL on exchanges – is a fork of ZCash. The goal of ZClassic is to remove the 20% fee associated with the ZCash technology. The developers of this fork feel miners should not receive smaller rewards just because the developers need additional money to keep evolving the project. Instead, ZClassic issues the full block reward to miners and aims to have development funded by the community itself. Moreover, Zclassic was designed in such a way there is no deliberate scarcity. That is quite different from ZCash, which seems to thrive on issuing fewer coins during the early stages of the ecosystem being embraced by enthusiasts. ZClassic is the first major fork of ZCash, although it is unclear if other forks may make an impact on the cryptocurrency ecosystem over the coming months. There will be 21 million ZClassic coins. 1. ZCash Most cryptocurrency users have heard about ZCash before. This particular cryptocurrency is well known for a strong focus on privacy, while still allowing for specific transactions to be completely transparent. There is a fixed supply of 21 million coins, similar to Bitcoin. However, the number of coins is distributed at a much slower rate from the start, which creates artificial scarcity. Moreover, it appears 20% of the block reward will automatically be deducted for future development of the protocol. The main reason people are attracted to ZCash is because of their use of zk-SNARKS to protect the amount and recipient of transactions. It did not take all that long for ZCash to become one of the top-twenty cryptocurrencies. It is also worth mentioning ZCash was initially called Zerocash, but the name was changed later on. Make sure to check out the official Zerocash whitepaper, as it contains a lot of technical information regarding this project. Thank you for this excellent display of information. This post should be actually pinned in the front page as I guess that it perfectly answers to questions every person who gets interested in ZenCash initially has. |
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beni1107
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September 06, 2017, 09:14:09 AM
Last edit: September 06, 2017, 10:08:24 AM by beni1107 |
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Zencash is gonna own the scene im sure.
Do i need new domain for every secure node or i can run 5 nodes with one domain ?
In the tutorial how to set up VPS iv read that could be possible blockchain fills VPS space...can you guys recommend which VPS or what would be the best size of storage for approx 6months or 1 year ?
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mariuspopa21
Newbie
Offline
Activity: 11
Merit: 0
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September 06, 2017, 12:31:18 PM |
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IMHO 42 ZEN is too low entry level for a Service Node. Whales would be able to manipulate the whole network..
Make it at least 100 ZEN and a reward ratio miners/nodes/governance at 65%/25%/10%
Nodes are important and they should be well paid.
I disagree. The whole point of the low barrier to entry is to have enough independent nodes.. Wrong. The count of the nodes doesn't depends on the entry level but on the expected annual income. I doubt there will be many at 3.5% block reward. The different entry level attracts different type of investors - newbies or pros, smart or not, rich or not, long term or not, etc. 100 ZEN entry will attract more smart, responsible long term investors, and more important, it will lock more ZENs at nodes so there will be less free ZENs at the exchanges. Higher demand at lower supply - you know where the price goes.. Hello, newbie here. If i set up a secure node with 100 Zen, can you estimate how much will be the reward? Thank you. |
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Confucio
Member
Offline
Activity: 87
Merit: 10
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September 06, 2017, 01:00:11 PM |
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IMHO 42 ZEN is too low entry level for a Service Node. Whales would be able to manipulate the whole network..
Make it at least 100 ZEN and a reward ratio miners/nodes/governance at 65%/25%/10%
Nodes are important and they should be well paid.
I disagree. The whole point of the low barrier to entry is to have enough independent nodes.. Wrong. The count of the nodes doesn't depends on the entry level but on the expected annual income. I doubt there will be many at 3.5% block reward. The different entry level attracts different type of investors - newbies or pros, smart or not, rich or not, long term or not, etc. 100 ZEN entry will attract more smart, responsible long term investors, and more important, it will lock more ZENs at nodes so there will be less free ZENs at the exchanges. Higher demand at lower supply - you know where the price goes.. Hello, newbie here. If i set up a secure node with 100 Zen, can you estimate how much will be the reward? Thank you. you Just need 42 Zen for a secure node, with 100 you could setup 2 secure nodes. To Calculate rewards go here http://zen.lebre.net |
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