NXT :: descendant of Bitcoin - Updated Information

[Damelon]

I will be coming out with "coins" that are actually NXT AE assets that can be mined by CPU. Every miner will need to be running a NXT node. If there is any level of market for such a coin the miners will start mining by the droves. Since the market for it is AE, we can always jump start the market by subsidizing the prices during the early days in order to ensure enough network capacity

This is another great service on top of NXT (besides the NXTopia) that stimulates the AE. +1

I like this very much.
it allows us to keep the "miners" on board and still helps secure the network without changing the core mechanics.

Elegant!

Would mining be needed for coins created on the exchange? I thought you could just "create" assets.  

It's just this particular coin that can be mined.
It's not inherent in the system.

[Mario123]

Pump

Who is able to develop a lightweight NXT tool for Windows and Mac, which sits just in your taskbar/menubar (see picture as an example)?

Installing and running this little tool should be hassle free. You can lookup your account, use main Nxt functions (like sending NXT, messaging), activate/deactivate forging right from the menu and you see some general blockchain stats.

That way, we could promote this little gadget as a simple and lightweight tool which runs smoothly in the background, forging for you (or not) and securing the Nxt network.

http://cdn.osxdaily.com/wp-content/uploads/2011/07/desktop-utility-osx-lion.jpg
http://cloud.addictivetips.com/wp-content/uploads/2013/04/Window-On-Top.png


(I'm no windows user. Do windows user still have this little apps in the task bar? Or is there a modern equivalent, like a gadget on the desktop?)

Since this is so OS-special, maybe two different developers for Windows and Mac. Come on, guys. Raise your hand for this project!

Here is a really bad mock up (I'm no developer). Do you get the idea, my Nxters? Wouldn't you (and others) love this tool which would actively secure the Nxt network? Lightweight, unobtrusive. Like the dropbox app.

[starik69]

Does someone have the same problem on >=0.8.0 ?
If i put some ip address in nxt.allowedUserHosts i cannot connect from it to my node

did you have  separated  them with a comma?

Code:

1.1.1.1; 127.0.0.1; 0.0.0.0; 151.0.0.1; eccecc; 

Yes, of course .

[kknk808]

Pump

Who is able to develop a lightweight NXT tool for Windows and Mac, which sits just in your taskbar/menubar (see picture as an example)?

Installing and running this little tool should be hassle free. You can lookup your account, use main Nxt functions (like sending NXT, messaging), activate/deactivate forging right from the menu and you see some general blockchain stats.

That way, we could promote this little gadget as a simple and lightweight tool which runs smoothly in the background, forging for you (or not) and securing the Nxt network.

http://cdn.osxdaily.com/wp-content/uploads/2011/07/desktop-utility-osx-lion.jpg
http://cloud.addictivetips.com/wp-content/uploads/2013/04/Window-On-Top.png


(I'm no windows user. Do windows user still have this little apps in the task bar? Or is there a modern equivalent, like a gadget on the desktop?)

Since this is so OS-special, maybe two different developers for Windows and Mac. Come on, guys. Raise your hand for this project!

Here is a really bad mock up (I'm no developer). Do you get the idea, my Nxters? Wouldn't you (and others) love this tool which would actively secure the Nxt network? Lightweight, unobtrusive. Like the dropbox app.

http://s12.postimg.org/wjincy63x/mockup.png

would love something like this.

Instead of leaving a browser page open, you can always see the current stats of your NXT, etc. just by looking in the taskbar.

[SkillRoad]

Pump

Who is able to develop a lightweight NXT tool for Windows and Mac, which sits just in your taskbar/menubar (see picture as an example)?

Installing and running this little tool should be hassle free. You can lookup your account, use main Nxt functions (like sending NXT, messaging), activate/deactivate forging right from the menu and you see some general blockchain stats.

That way, we could promote this little gadget as a simple and lightweight tool which runs smoothly in the background, forging for you (or not) and securing the Nxt network.

http://cdn.osxdaily.com/wp-content/uploads/2011/07/desktop-utility-osx-lion.jpg
http://cloud.addictivetips.com/wp-content/uploads/2013/04/Window-On-Top.png


(I'm no windows user. Do windows user still have this little apps in the task bar? Or is there a modern equivalent, like a gadget on the desktop?)

Since this is so OS-special, maybe two different developers for Windows and Mac. Come on, guys. Raise your hand for this project!

Here is a really bad mock up (I'm no developer). Do you get the idea, my Nxters? Wouldn't you (and others) love this tool which would actively secure the Nxt network? Lightweight, unobtrusive. Like the dropbox app.

a great idea

[redsn0w]

Does someone have the same problem on >=0.8.0 ?
If i put some ip address in nxt.allowedUserHosts i cannot connect from it to my node

did you have  separated  them with a comma?

Code:

1.1.1.1; 127.0.0.1; 0.0.0.0; 151.0.0.1; eccecc; 

Yes, of course .

so this is your  original Allowed.userhost ? code :

Code:

<init-param>
<param-name>allowedUserHosts</param-name>
<param-value>127.0.0.1; localhost; 0:0:0:0:0:0:0:1; </param-value>
</init-param>

[BrianNowhere]

IMO, forging is fine. In the future, there will be supernodes (service providers) that are basically be high-bandwidth pools people can lend their stake to. This won't be a problem of centralization, because NXT is resistant even against 90% attacks. So unless 1 single pool gets that much forging power, we will be fine. These high-bandwidth pools can support 1000+ TPS easily.

- agree.

I disagree. Many nodes are important to support the network. It the 'decentralized' part. Few supernodes can easily be shutdown.

This might be a stupid idea, but what if part of all transaction fees went to a huge stockpile somewhere that was given out once a month randomly to someone who is forging. Then the incentive to run an open client would be the chance to win the 'Nxt lottery' that month. I know I'd be hard pressed to shut down my client and throw away my 'lottery ticket'.

Err, am I not sure I completely understand that incentive architecture. Could you rephrase it?

Basically, every time there's a transaction in the network, a fraction of the fee would be sent to a designated NXT account. If there's a lot of transactions this would add up to a nice amount over 30 days or so. Basically this would be awarded like a lottery every month to a random Nxter who ran an open client that month. The question is whether there's any way to verify if someone had been forging during the time period to be eligible. Maybe the reward would go out on a random day/time so that no one would know when it's coming and therefore be motivated to always be running an open client.

I'm just trying to think of ways to motivate people to forge when there's not much incentive to do so if you don't have a lot of stake.
This system would make forging akin to owning a lottery ticket. The odds would be somewhat low to win, but reward high enough to encourage participitation.

[jl777]

I will be coming out with "coins" that are actually NXT AE assets that can be mined by CPU. Every miner will need to be running a NXT node. If there is any level of market for such a coin the miners will start mining by the droves. Since the market for it is AE, we can always jump start the market by subsidizing the prices during the early days in order to ensure enough network capacity

This is another great service on top of NXT (besides the NXTopia) that stimulates the AE. +1

I like this very much.
it allows us to keep the "miners" on board and still helps secure the network without changing the core mechanics.

Elegant!

Would mining be needed for coins created on the exchange? I thought you could just "create" assets.  

It would have no value if there were a billion available to be sold, so nobody would mine that. I have to make the Asset scarce so that it behaves like PoW coin inventory, well I dont like all pre-mine, etc. so the good news is that we can define  how the mining works. Just need some tech to enforce the rules. If you think about it, even bitcoin can one day say, hey we removed the cap and now there can be 21 billion of them. There is nothing that prevents that other than the social contract, and also the fact that it would instantly destroy all credibility makes it an extremely illogical and unlikely event. As long as we can create the same dynamic with NXTcoins, it will work like other PoW coins.

James

[Eadeqa]

Basically, every time there's a transaction in the network, a fraction of the fee would be sent to a designated NXT account. If there's a lot of transactions this would add up to a nice amount over 30 days or so. Basically this would be awarded like a lottery every month to a random Nxter who ran an open client that month. The question is whether there's any way to verify if someone had been forging during the time period to be eligible. Maybe the reward would go out on a random day/time so that no one would know when it's coming and therefore be motivated to always be running an open client.

Interesting idea. Yes, I think it will work. Why 30 days? 24 hours would be enough

[starik69]

so this is your  original Allowed.userhost ? code :

I copied working in 0.7.6 string to nxt.properties like this:

Code:

nxt.allowedUserHosts=127.0.0.1; localhost; 0:0:0:0:0:0:0:1; 192.168.1.2; etc;

and nothing works.

[Jerical13]

I will be coming out with "coins" that are actually NXT AE assets that can be mined by CPU. Every miner will need to be running a NXT node. If there is any level of market for such a coin the miners will start mining by the droves. Since the market for it is AE, we can always jump start the market by subsidizing the prices during the early days in order to ensure enough network capacity

This is another great service on top of NXT (besides the NXTopia) that stimulates the AE. +1

I like this very much.
it allows us to keep the "miners" on board and still helps secure the network without changing the core mechanics.

Elegant!

Would mining be needed for coins created on the exchange? I thought you could just "create" assets.  

It's just this particular coin that can be mined.
It's not inherent in the system.

I see. So you are going to use the AE as the exclusive exchange for this coin. correct? Pretty smart. But really If you could just  generate the coins with out mining, actually on the network, it would save a lot of trouble with mining. Creating a demand would be the tricky part. But with cryptos being accepted as they are even that seems not that far fetched. California recently passed some Legislation making cryptos legal tender making contracts in cryptos binding   So your idea of creating a coin to market on the exchange is promising I guess either way that you decide to do it. But my thought is to spend effort and resources on creating a demand and to just create the currency into existence with out mining. do you have any ideas about a market for the coin? (i.e. Potcoin. Sexcoin, some other specialized market?)

[wesleyh]

Hey guys,

To those that have tried my web client http://nxtra.org/nxt-client ; A beta version is now available for download here:

http://nxtra.org/nxt-client/dev.zip

Unzip, move the dev folder to nxt/html/tools/dev

Then go to http://localhost:7876/dev

This is assuming you have 0.8.1e installed (it will not work correctly on older versions!) - do not try

I suggest you connect to TestNet first though; in the upper left corner you can switch between TestNet and localhost. Try everything out in TestNet first, when you are comfortable you can connect locally. There may still be errors in the code, it's a beta after all.

Not everything is done yet, and Internet Explorer is completely untested. I suggest you use either chrome/firefox or safari for now.

Also need to do some more interactive updating after submission of forms, etc.

if you want, you can send me a message there via the alias wesleynxt (just open the send message dialog and type wesleynxt in the account field). Messages are not yet encrypted.

Let me know what you think.

[opticalcarrier]

Ive edited wiki to include SSL instructions for 0.8.x and on, and am happy with that part.

Ive also added a page on the new nxt-default.properties file, but wiki markup is fuxxoring it all up.  Can I get a wiki editor to go to http://wiki.nxtcrypto.org/wiki/Nxt-default_properties_configuration_file and make it not show # characters as lists?  I tried using the < code > tags but that didnt work

[dasomsos314]

Oh.Its 0.8.0 now,the update is too fast!!!!

[Jean-Luc]

so this is your  original Allowed.userhost ? code :

I copied working in 0.7.6 string to nxt.properties like this:

Code:

nxt.allowedUserHosts=127.0.0.1; localhost; 0:0:0:0:0:0:0:1; 192.168.1.2; etc;

and nothing works.

You need to set nxt.uiServerHost=0.0.0.0 , by default it is 127.0.0.1 so localhost only.

[ChuckOne]

IMO, forging is fine. In the future, there will be supernodes (service providers) that are basically be high-bandwidth pools people can lend their stake to. This won't be a problem of centralization, because NXT is resistant even against 90% attacks. So unless 1 single pool gets that much forging power, we will be fine. These high-bandwidth pools can support 1000+ TPS easily.

- agree.

I disagree. Many nodes are important to support the network. It the 'decentralized' part. Few supernodes can easily be shutdown.

This might be a stupid idea, but what if part of all transaction fees went to a huge stockpile somewhere that was given out once a month randomly to someone who is forging. Then the incentive to run an open client would be the chance to win the 'Nxt lottery' that month. I know I'd be hard pressed to shut down my client and throw away my 'lottery ticket'.

Err, am I not sure I completely understand that incentive architecture. Could you rephrase it?

Basically, every time there's a transaction in the network, a fraction of the fee would be sent to a designated NXT account. If there's a lot of transactions this would add up to a nice amount over 30 days or so. Basically this would be awarded like a lottery every month to a random Nxter who ran an open client that month. The question is whether there's any way to verify if someone had been forging during the time period to be eligible. Maybe the reward would go out on a random day/time so that no one would know when it's coming and therefore be motivated to always be running an open client.

I'm just trying to think of ways to motivate people to forge when there's not much incentive to do so if you don't have a lot of stake.
This system would make forging akin to owning a lottery ticket. The odds would be somewhat low to win, but reward high enough to encourage participitation.

Interesting. Let's develop that further.

How could nodes agree on which node has won the lottery?

If that could be solved, the lottery ticket should depend on how long a specific node was online. Here arises the question 'how can other nodes be sure that a specific node has been online this month?'

[BrianNowhere]

Basically, every time there's a transaction in the network, a fraction of the fee would be sent to a designated NXT account. If there's a lot of transactions this would add up to a nice amount over 30 days or so. Basically this would be awarded like a lottery every month to a random Nxter who ran an open client that month. The question is whether there's any way to verify if someone had been forging during the time period to be eligible. Maybe the reward would go out on a random day/time so that no one would know when it's coming and therefore be motivated to always be running an open client.

Interesting idea. Yes, I think it will work. Why 30 days? 24 hours would be enough

Any period of time would be fine. As long as the reward is high enough that people would be motivated to forge just to have a shot at collecting it.

[Jerical13]

I will be coming out with "coins" that are actually NXT AE assets that can be mined by CPU. Every miner will need to be running a NXT node. If there is any level of market for such a coin the miners will start mining by the droves. Since the market for it is AE, we can always jump start the market by subsidizing the prices during the early days in order to ensure enough network capacity

This is another great service on top of NXT (besides the NXTopia) that stimulates the AE. +1

I like this very much.
it allows us to keep the "miners" on board and still helps secure the network without changing the core mechanics.

Elegant!

Would mining be needed for coins created on the exchange? I thought you could just "create" assets.  

It would have no value if there were a billion available to be sold, so nobody would mine that. I have to make the Asset scarce so that it behaves like PoW coin inventory, well I dont like all pre-mine, etc. so the good news is that we can define  how the mining works. Just need some tech to enforce the rules. If you think about it, even bitcoin can one day say, hey we removed the cap and now there can be 21 billion of them. There is nothing that prevents that other than the social contract, and also the fact that it would instantly destroy all credibility makes it an extremely illogical and unlikely event. As long as we can create the same dynamic with NXTcoins, it will work like other PoW coins.

James

Not really. Whoever created the currency would have control over its availability. Kind of like You are the FED. Who cares if no one mines. All of the increased value would benefit whoever created the coin. If you had a market or demand. There is more profit in creating a market than mining coins.

[zorke]

Nxt seems so promising. Looking forward to joining and buying some coins.

So, do it. You could also run a node to secure the network and familiarize yourself with the technology.

Welcome aboard 

[ChuckOne]

Not really. Whoever created the currency would have control over its availability. Kind of like You are the FED. Who cares if no one mines. All of the increased value would benefit whoever created the coin. If you had a market or demand. There is more profit in creating a market than mining coins.

I thought the same. Was about writing a PM to CfB if it is possible to create an asset without a private key so that ONLY AT could handle the assets.