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Author Topic: NXT :: descendant of Bitcoin - Updated Information  (Read 2755395 times)
Come-from-Beyond
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February 05, 2014, 04:06:40 PM
 #29801

Regarding Scripts:

Every script will reserve a chunk of memory (subject to fee charging).
Every memory cell will be a signed 64-bit integer.
Scripts won't be able to modify themselves nor other scripts, so JIT-compilation could be easily used.
Scripts will run in a sandbox by a byte-code interpretator.
Each operation will require the same amount of NXT, if an account runs out of coins then interpretation is halted.
Scripts will be able to read block and transaction data in format-agnostic manner, they will also be able to "send" transaction. Such the transactions won't require to be signed, they will be able to spend money from the original account only.
Forgers won't "interpret" scripts, interpretation will occur during pushing the block.
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intel
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February 05, 2014, 04:08:12 PM
 #29802

$10 USD per 1 NXT is very pessimistic price for the end of 2014.

are you guys on crack or something - I really do not want to be a pessmist but why on earth should there be a 10b market cap for nxt in the end of 2014?

Because even stupid forks costs more with absolutely no background. NXT has features which you may not fully understand yet, but bitcoin is nothing against them.

[!] 24.7 NXT News Portal. Real-Time Update. Share your own news with NXT community and get FREE NXT!
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February 05, 2014, 04:10:27 PM
 #29803

Forgers won't "interpret" scripts, interpretation will occur during pushing the block.

I don't quite get this part (the other statements all look reasonable) - what exactly do you mean by "pushing the block" vs. "forging" and which nodes are "checking" that the script operation has been performed correctly (and exactly how)?

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marcus03
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February 05, 2014, 04:10:42 PM
 #29804

Time to move to smaller fees. What MIN fee should we set? Remember that lower values make it cheaper to bloat the blockchain.

Discuss.

Please announce the change and give devs at least 14 days to adopt their code. (This is the first time we would be forced to use decimal places after the comma...)
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February 05, 2014, 04:11:17 PM
 #29805

$10 USD per 1 NXT is very pessimistic price for the end of 2014.

are you guys on crack or something - I really do not want to be a pessmist but why on earth should there be a 10b market cap for nxt in the end of 2014?

Dont also be confused with 10b cap, you 'll never get 10b when trying to sell all the NXT.

[!] 24.7 NXT News Portal. Real-Time Update. Share your own news with NXT community and get FREE NXT!
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February 05, 2014, 04:11:41 PM
 #29806

So where is the transparent ledger of all the NXT which existed before trading was possible?
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February 05, 2014, 04:14:54 PM
 #29807

Forgers won't "interpret" scripts, interpretation will occur during pushing the block.

I don't quite get this part (the other statements all look reasonable) - what exactly do you mean by "pushing the block" vs. "forging" and which nodes are "checking" that the script operation has been performed correctly (and exactly how)?


Pushing a block means to add it to the end of the blockchain. All the transactions r processed during this event. By saying that forgers won't interpret scripts I mean that forgers don't need to validate or do any other analysis of a script. Put it into a block and let it fly.
wesleyh
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February 05, 2014, 04:15:05 PM
 #29808

I would be ok with moving to 0.1, but only full nxt numbers should be able to be sent.

So you cannot send for example 0.5 nxt to someone. The minimum you can send is 1nxt. will this be the case?

If you have 105.45 nxt, you can send 105nxt, the 0.45 can only be spent on fees.
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February 05, 2014, 04:15:46 PM
 #29809

Can i give somebody the right to vote instead of me? I know you won't like this but i am not a coder and i have no idea how much we should lower the fee without bloating the blockchain. Or in such case all people like me shouldn't vote at all?
In case you agree, i give @Come-from-Beyond the right to vote instead of me on this.

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February 05, 2014, 04:16:46 PM
 #29810

Pushing a block means to add it to the end of the blockchain. All the transactions r processed during this event. By saying that forgers won't interpret scripts I mean that forgers don't need to validate or do any other analysis of a script. Put it into a block and let it fly.

I guess I am missing something - how then does it fly? Surely it needs to be validated as to what it does by all (or at least the majority) of nodes otherwise how can we know it has been processed correctly?

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Hacer88
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February 05, 2014, 04:17:12 PM
 #29811

A newbie question about Forging;

Whenever someone has 30K NXT. What is the best time start forging?
Now? Or when NXT is adapted by the market so there will be more transactions so the blocks will contain more rewards.

And how does the decreasing the fee will effect the reward of forging? I guess it will be reduced as well?

NXT - NEM - NAS - NFD
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February 05, 2014, 04:18:54 PM
 #29812

fee: 0.1

Only few will continue to forge for 0.01 at today's price, plus it's cheap to spam the blockchain.
Lower the fee again when price rises above 10$.
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February 05, 2014, 04:19:41 PM
 #29813

Forgers won't "interpret" scripts, interpretation will occur during pushing the block.

I don't quite get this part (the other statements all look reasonable) - what exactly do you mean by "pushing the block" vs. "forging" and which nodes are "checking" that the script operation has been performed correctly (and exactly how)?


Pushing a block means to add it to the end of the blockchain. All the transactions r processed during this event. By saying that forgers won't interpret scripts I mean that forgers don't need to validate or do any other analysis of a script. Put it into a block and let it fly.

Don't you think this might help ddossing the network? why node should add to block transaction which contains script that most likely won't be executed (coz it contains error or lack of funds or something else)?

Sebastien256
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February 05, 2014, 04:20:32 PM
 #29814

keep it simple, move decimal point by one order. Fee=0.1, but if possible, code right now all the necessary thing to move further by many more order the decimal point. Later with voting system in place, we can adjust lower fee.

Nxt official forum at: https://nxtforum.org/
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February 05, 2014, 04:21:25 PM
 #29815

I guess I am missing something - how then does it fly? Surely it needs to be validated as to what it does by all (or at least the majority) of nodes otherwise how can we know it has been processed correctly?

When u see a new block u attach it to ur blockchain. Upon attaching u iterate thru all transactions in the block and analyze them. If it's a payment, then u adjust corresponding balances. If it's a script, then u feed it to the interpretator. The interpretator processes all script commands one by one. If at some point it faces a problem (like division by zero), then it simply stops the processing.

Edit: Of coz scripts must be deterministic. No random events that could lead to different results.
nakaone
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February 05, 2014, 04:22:49 PM
 #29816

And even if Cryptsy adds NXT...so what?

Maybe there will be a bit more redistribution from the top owners. But so what?

NXT is still only recognized in the Crypto world which is tiny.

I wouldn't expect to become very popular among ordinary people very soon. Let's continue our expansion to the world of finance, the rest of the world won't have another option after Wall Street guys start using Nxt.

a simple question without being in any way offensive

just in case we get into the world of finance, what makes nxt superior to say xcp, msc, bitshares and ethereum? we cannot handle high frequency trading, the others cannot as well..

when you give proper answer to this and it is technically possbile this should definetely be the way to go.

??
rriky92
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February 05, 2014, 04:24:06 PM
 #29817

Time to move to smaller fees. What MIN fee should we set? Remember that lower values make it cheaper to bloat the blockchain.

Discuss.

0.01 so we don't need to change again for looong time
CIYAM
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February 05, 2014, 04:25:00 PM
 #29818

If it's a script, then u feed it to the interpretator. The interpretator processes all script commands one by one. If at some point it faces a problem (like division by zero), then it simply stops the processing.

Okay - so it *is* being interpreted (and presumably by each node that sees the new block also otherwise it could have been interpreted incorrectly).

I think you'll need a hash of the memory "state" after execution which should probably actually be provided by the person wanting to "execute" the script (presumably through a second tx).

To my way of thinking it would be:

1) Create the "script tx" and pay a fee just based upon its size (am not sure where we are storing its state - perhaps that is going to be in some sort of AM).

2) Send a "run script" tx later with a fee and an "expected state hash" (if the nodes run the script and fail to get the same state hash then it would be an invalid tx).

Or are you thinking along the lines of something more "automated" than this approach?

With CIYAM anyone can create 100% generated C++ web applications in literally minutes.

GPG Public Key | 1ciyam3htJit1feGa26p2wQ4aw6KFTejU
Come-from-Beyond
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February 05, 2014, 04:25:38 PM
 #29819

Don't you think this might help ddossing the network? why node should add to block transaction which contains script that most likely won't be executed (coz it contains error or lack of funds or something else)?

Scripts will still pay "storage" fee. No problem with scripts that can't run due to errors or other issues.
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February 05, 2014, 04:27:29 PM
 #29820

fee: 0.1

Only few will continue to forge for 0.01 at today's price, plus it's cheap to spam the blockchain.
Lower the fee again when price rises above 10$.

+1

NXT: 13997163105778396158
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