NXT :: descendant of Bitcoin - Updated Information

[Anon136]

oooh so the generationSignature is a digest of the previous generationSignature + the time-stamp of the previous block?

No. It's digest of prevGenSignature only.

How determined the generator (account) of the next block:

1. X = digest of prevGenSignature gives 256 bits
2. First 64 bits is a HIT
3. Target = BaseTarget (which is the same for all accounts) * Balance * Time_since_previous_block
4. If HIT < Target then next block can be generated

Edit: Target grows each second until it "crosses" HIT of one of the accounts

All you would have to do is brute force the creation of a key pair that digested the 1440th genSignature to a hit that was below everyone elses target. It would be totally doable.

This problem is super solvable though. BTNext should make the BaseTarget adjustable with an algo similar to bitcoins re-target algo. Then Increae the 1440 block (24 hours) restriction for effectiveBalance out to about 43200 (1 month) just to be extra super safe (its best to pick absurdly safe parameters when dealing with billions or possibly even trillions of dollars someday). Then finally make the nextGenSignature a digest of the prevGenSignature + the public key of the author of the last block. You couldnt game it with intentionally selected keys because you would have to pick the key 1 month ahead of time and there would be no way to predict who would author which blocks 1 month out since miners drop in and out of the network at random.

[1713544316]

1713544316

[1713544316]

1713544316

[xibeijan]

Why is coinmarketcap showing 999,997,987 NXT instead of 1B NXT?

[2Kool4Skewl]

Why is coinmarketcap showing 999,997,987 NXT instead of 1B NXT?

Someone sent 2013 Nxt back to the genesis account, thus destroying them.

[EmoneyRu]

What would happen if I same run api query to register alias N-times from one account? I'll loose (N-1) coins?

[Come-from-Beyond]

All you would have to do is brute force the creation of a key pair that digested the 1440th genSignature to a hit that was below everyone elses target. It would be totally doable.

This problem is super solvable though. BTNext should make the BaseTarget adjustable with an algo similar to bitcoins re-target algo. Then Increae the 1440 block (24 hours) restriction for effectiveBalance out to about 43200 (1 month) just to be extra super safe (its best to pick absurdly safe parameters when dealing with billions or possibly even trillions of dollars someday). Then finally make the nextGenSignature a digest of the prevGenSignature + the public key of the author of the last block. You couldnt game it with intentionally selected keys because you would have to pick the key 1 month ahead of time and there would be no way to predict who would author which blocks 1 month out since miners drop in and out of the network at random.

1440 blocks is safe number coz u have to know who will sign the 1439th block which depends on the signer of the 1438th block and so forth. To know future signers u must know future balances. Even if u know future balances u must know future topology of the network to predict which blocks will be orphaned.

[Come-from-Beyond]

What would happen if I same run api query to register alias N-times from one account? I'll loose (N-1) coins?

Yes.

[xibeijan]

Why is coinmarketcap showing 999,997,987 NXT instead of 1B NXT?

Someone sent 2013 Nxt back to the genesis account, thus destroying them.

Cool idea, but doesn't anyone have the keys to the genesis account?  Or, does the software reject transactions coming from that account?

What about all the unclaimed NXT?  Is that being destroyed also?

[superresistant]

Guys, what is your orphan rate ?

I've got 8 orphans on 9 blocks. I've read before that an orphan block could be an empty solved block, am I right ?

[NxtChoice]

oooh so the generationSignature is a digest of the previous generationSignature + the time-stamp of the previous block?

No. It's digest of prevGenSignature only.

How determined the generator (account) of the next block:

1. X = digest of prevGenSignature gives 256 bits
2. First 64 bits of X is a HIT
3. Target = BaseTarget (which is the same for all accounts) * Balance * Time_since_previous_block
4. If HIT < Target then next block can be generated

Edit: Target grows each second until it "crosses" HIT of one of the accounts

How is the BaseTarget determined?

[allwelder]

@GCInc
Why I can not withdraw from the dgex for the reason of pending orders.
The pending orders is about deposited many days（8days) ago.Why it is still remain pending.
Please please please give some explanation.
 

[2Kool4Skewl]

Why is coinmarketcap showing 999,997,987 NXT instead of 1B NXT?

Someone sent 2013 Nxt back to the genesis account, thus destroying them.

Cool idea, but doesn't anyone have the keys to the genesis account?  Or, does the software reject transactions coming from that account?

What about all the unclaimed NXT?  Is that being destroyed also?

BCNext has the passphrase to the genesis account.  No, the unclaimed Nxt isn't being destroyed.

[Come-from-Beyond]

Cool idea, but doesn't anyone have the keys to the genesis account?  Or, does the software reject transactions coming from that account?

What about all the unclaimed NXT?  Is that being destroyed also?

BCNext has the keys but he can't send coins coz his balance is almost minus one billion. Soft rejects transactions that lead to negative balance.

Unclaimed coins r waiting for their legit owners.

[superresistant]

@GCInc
Why I can not withdraw from the dgex for the reason of pending orders.
The pending orders is about deposited many days（8days) ago.Why it is still remain pending.
Please please please give some explanation.

Check if you confused deposit and withdrawal. If you did, send an email to the admin so he can cancel the pending deposit.

[Come-from-Beyond]

How is the BaseTarget determined?

BaseTarget_n = BaseTarget_n-1 * (BlockTimestamp_n - BlockTimestamp_n-1) / 60

BaseTarget_n limited to [BaseTarget_n-1 / 2;  BaseTarget_n-1 * 2] interval though

[wesleyh]

How many blocks are usually generated in a day? (i.e. what is the approximate time of when we will be able to buy aliases?)

[Come-from-Beyond]

How many blocks are usually generated in a day? (i.e. what is the approximate time of when we will be able to buy aliases?)

http://87.230.14.1/nxt/nxt.cgi?action=40&sub=7

[allwelder]

@GCInc
Why I can not withdraw from the dgex for the reason of pending orders.
The pending orders is about deposited many days（8days) ago.Why it is still remain pending.
Please please please give some explanation.

Check if you confused deposit and withdrawal. If you did, send an email to the admin so he can cancel the pending deposit.

Thank you,superresistant
Now it is Ok. I have contact them before,they have dealed it now.

[Come-from-Beyond]

Here is an interesting branch:

[laowai80]

Here is an interesting branch:

Should we be worried? What is the 'normal' or desirable range of the base target value?

[allwelder]

How many blocks are usually generated in a day? (i.e. what is the approximate time of when we will be able to buy aliases?)

1440 a day,1 block per minute