NXT :: descendant of Bitcoin - Updated Information

[antanst]

Why not integrate wesleys into the 'official' java client? Possible? I think his GUI is better.

I believe that Regulus' NXS is non-intrusive, compact and replaces the default UI with some trivial steps. It will suite all those familiar with the current client UI, as it is simply a better and more polished version of the original we've all gotten used to.

[1714204538]

1714204538

[1714204538]

1714204538

[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!

[jl777]

What I proposed few posts above, is a PoW asset build on top of NXT.

This is possible (and what James is working on) but securing the Nxt network needs to be done in Nxt not in a layer above it.

If a NXTcoin miner has to run a NXT node, arent they "in NXT"?

He thinks of the PoW-Coin as totally independent of NXT.

But that PoW-Coin should bridge the layers. Nodes have to prove that they keep the NXT blockchain online and therefore securing the network.

The NXTcoins will be making NXT API calls, otherwise you cant mine them, or trade them

[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?

[ChuckOne]

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!

You see what I mean.

[redsn0w]

I've restarted the testnet. We have to wait for the next block to start sending testcoins.

Did you send me 100k TestNxt to this address : 4940924250576724047

whit this command  https://holms.cloudapp.net:6875/nxt?requestType=getBalance&account=4940924250576724047

i see 0 TestNxt ... 


i have to wait the next block ?

[ChuckOne]

He thinks of the PoW-Coin as totally independent of NXT.

But that PoW-Coin should bridge the layers. Nodes have to prove that they keep the NXT blockchain online and therefore securing the network.

The NXTcoins will be making NXT API calls, otherwise you cant mine them, or trade them

Not sure, I got that.

NXTcoins will make NXT API calls on behalf of whom? And which ones specifically?

[ChuckOne]

@JL:
Nice debug message.

Code:

[2014-02-24 16:43:44.737] DEBUG: Error processing POST request
[2014-02-24 16:45:13.030] DEBUG: Error processing POST request
[2014-02-24 16:49:14.151] DEBUG: Error processing POST request
[2014-02-24 16:49:19.676] DEBUG: Error processing POST request
[2014-02-24 16:50:54.672] DEBUG: Error processing POST request
[2014-02-24 16:55:54.503] DEBUG: Error processing POST request
[2014-02-24 16:55:56.812] DEBUG: Error processing POST request
[2014-02-24 16:56:14.266] DEBUG: Error processing POST request
[2014-02-24 16:56:36.155] DEBUG: Error processing POST request
[2014-02-24 16:58:48.605] DEBUG: Error processing POST request
[2014-02-24 16:59:50.514] DEBUG: Error processing POST request
[2014-02-24 17:03:51.566] DEBUG: Error processing POST request
[2014-02-24 17:04:39.667] DEBUG: Error processing POST request
[2014-02-24 17:04:55.284] DEBUG: Error processing POST request
[2014-02-24 17:07:31.654] DEBUG: Error processing POST request
[2014-02-24 17:08:12.425] DEBUG: Error processing POST request
[2014-02-24 17:09:00.969] DEBUG: Error processing POST request
[2014-02-24 17:10:28.641] DEBUG: Error processing POST request
[2014-02-24 17:11:37.025] DEBUG: Error processing POST request
[2014-02-24 17:11:59.698] DEBUG: Error processing POST request
[2014-02-24 17:14:35.440] DEBUG: Error processing POST request
[2014-02-24 17:15:18.618] DEBUG: Error processing POST request

[verymuchso]

JeanLuc

Could you please add nxt.util.Logger.removeMessageListener and nxt.util.Logger.removeExceptionListener?

Thanks!

[redsn0w]

@JL:
Nice debug message.

Code:

[2014-02-24 16:43:44.737] DEBUG: Error processing POST request
[2014-02-24 16:45:13.030] DEBUG: Error processing POST request
[2014-02-24 16:49:14.151] DEBUG: Error processing POST request
[2014-02-24 16:49:19.676] DEBUG: Error processing POST request
[2014-02-24 16:50:54.672] DEBUG: Error processing POST request
[2014-02-24 16:55:54.503] DEBUG: Error processing POST request
[2014-02-24 16:55:56.812] DEBUG: Error processing POST request
[2014-02-24 16:56:14.266] DEBUG: Error processing POST request
[2014-02-24 16:56:36.155] DEBUG: Error processing POST request
[2014-02-24 16:58:48.605] DEBUG: Error processing POST request
[2014-02-24 16:59:50.514] DEBUG: Error processing POST request
[2014-02-24 17:03:51.566] DEBUG: Error processing POST request
[2014-02-24 17:04:39.667] DEBUG: Error processing POST request
[2014-02-24 17:04:55.284] DEBUG: Error processing POST request
[2014-02-24 17:07:31.654] DEBUG: Error processing POST request
[2014-02-24 17:08:12.425] DEBUG: Error processing POST request
[2014-02-24 17:09:00.969] DEBUG: Error processing POST request
[2014-02-24 17:10:28.641] DEBUG: Error processing POST request
[2014-02-24 17:11:37.025] DEBUG: Error processing POST request
[2014-02-24 17:11:59.698] DEBUG: Error processing POST request
[2014-02-24 17:14:35.440] DEBUG: Error processing POST request
[2014-02-24 17:15:18.618] DEBUG: Error processing POST request

Ahahah 

[pandaisftw]

Why?

I am not so sure my first idea was a good one but my concern is that if most people become uninterested in forging it could make the network less resilient in the (hopefully unlikely) case of pool servers being shut down by authorities in particular.

So I am quite happy to drop that idea but I still think the problem of "penalty" needs to be considered as well as the problem of having "too much forging power" amongst a small number of pools.

With DACs, isn't it possible to make a truly decentralized botnet that can't be shutdown? This "pool" would consist of many, many computers connected to it, each one leasing their forging power to the botnet. CPU power and bandwidth would be the total sum of all the connected users... which would be literally unlimited for our purposes. Also, the botnet can have redundancies (such as there are always 3 random computers sending the same information to make sure one of them is not malicious). With the penalty system, this large network with a large number of accounts will function normally. In fact, the penalty system would serve as a balancer - if one pool generates too many blocks compared to other pools, it's power will eventually be brought inline with other pools.

In fact, we can even build a DAC on-top of the DAC, that will automatically find the best pool for the user (it's priority would be to make sure there are always X number of competitive pools).

We can call this system: Skynxt.

[jl777]

He thinks of the PoW-Coin as totally independent of NXT.

But that PoW-Coin should bridge the layers. Nodes have to prove that they keep the NXT blockchain online and therefore securing the network.

The NXTcoins will be making NXT API calls, otherwise you cant mine them, or trade them

Not sure, I got that.

NXTcoins will make NXT API calls on behalf of whom? And which one specifically?

I can think of several reasons, one example is if the coin needs to receive data via AM. It would then have to be part of the NXT network to be able to get the AM data.

Another reason that is just for security reason is to verify the total number of coins in circulation. It needs to match the total mined. until we get multisig in NXT, there is the possibility that the accounts that are holding the issued but unreleased coins will release some extra, especially when there is a nice market to sell it to. Since there is nothing I can think of that will stop that, the plan is for all the nodes to actively reconcile the total balances and if it doesnt add up properly, alarms and a snapshot of the current account balances are made. Then if the problem cant be resolved, everybody simply redeems their snapshot balance for a replacement Asset, and resumes without any real harm done.

The only harm would come to the one who broke the trust by trying to sell off what they were supposed to only release to the miners. Whatever coins they were able to pilfer wont be worth that much since it will be obsolete. Also, I think we can have part of the alarms to be canceling any outstanding orders the miners had on the AE. Anybody that is trading in these NXTcoins is advised to be running the alarm bot. So not elegant, but I think practical solution to not be able to create coins only when they are mined.

You can imagine how elaborate all this will be, all requiring access to the latest block. NXTcoin miners will secure the NXT network, I am pretty sure of this.

James

[jl777]

PLEASE, I need testnxt 18232225178877143084
I want to debug while the code is fresh in my mind

[SkillRoad]

Can someone please send some test Nxt my way?

16788579025215779162

Thank you!

[wesleyh]

PLEASE, I need testnxt 18232225178877143084
I want to debug while the code is fresh in my mind

we need to wait for blocks to start forging.

[redsn0w]

PLEASE, I need testnxt 18232225178877143084
I want to debug while the code is fresh in my mind

Hi ,
 Can you wait a couple of minute ? I will send you 20k TestNxt ...

[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

[Come-from-Beyond]

I've restarted the testnet. We have to wait for the next block to start sending testcoins.

Did you send me 100k TestNxt to this address : 4940924250576724047

whit this command  https://holms.cloudapp.net:6875/nxt?requestType=getBalance&account=4940924250576724047

i see 0 TestNxt ... 


i have to wait the next block ?

Yes, we all have to wait when someone forges a block.

[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; 

[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.