Nexus - Pure SHA3 + CPU/GPU + nPoS + 15 Active Innovations + More to Come

[merc84]

Hmm so maybe mining trust keys can have trust based on how many blocks they produce per day vs how many blocks that channel should have produced, if they dedicate more hash power their trust builds faster.

This would need to be limited to a top threshold though to prevent 51% from getting trust, maybe trust is reduced if you produce multiple blocks in a row to prevent what a 51% attack would harm, as in creating your own string of blocks that overtake main chain. What do you think?

Thank You,
Viz.

How would such a system effect a mining pool like the cpu pool for example? The cpu pool produces the vast majority if not almost all cpu blocks... Also how much variation are we talking about when it comes to trust based rewards for mining channels? If its only a few % then that would seem fair, also where does the remainder of the block reward go to dev keys? If that is the case it would probably make sense to first introduce the decentralized mechanisim for control of dev keys prior to the addition of trust based mining incentives. As it stands currently there is already too much of the available supply locked in dev keys which don't have a decentralized control system (roughly 20-21%).

[1713872998]

1713872998

[Namsbreh]

Not sure if possible, but trust could be reduced if fractional reward comes in to play.

Increasing trust based on how many blocks found per day is an idea, but loyal miners could be negatively affected if there was a sudden influx of new miners who started to take a majority of blocks.   Maybe trust would need to reduce slowly over a longer time.

[merc84]

What if the remainder of the block was paid into the next block found by someone with full trust rating? This way the loyal miners are incentivized to maintain the network when the opportunistic miners aren't around.This could also incentivize the creation of more pools or in particular a gpu pool. Not sure if this is practical but if any miner (pool or otherwise) where to exceed 49% of the blocks in a given time frame then its trust should decrease quickly making it Ineligible for larger block payouts.

[AliMan]

After reading all the posts, it's pretty obvious that the trust keys shouldn't be associated with the mining part.

I barely even mine it directly anymore. And there's no denying that this isn't the best coin to mine.

Investing and holding is a different thing.

[merc84]

After reading all the posts, it's pretty obvious that the trust keys shouldn't be associated with the mining part.

I barely even mine it directly anymore. And there's no denying that this isn't the best coin to mine.

Investing and holding is a different thing.

Might not be the best coin to mine but you can at least break even or make a tiny profit with current price and difficulty. But then again I believe that is the point of association between trust keys and mining. More miners is more security so its not a bad idea to incentivize people to maintain the network, the key here is finding a way to make the coin more attractive to support with constant mining whilst not making it so bad that opportunistic miners would never touch it.

[AliMan]

After reading all the posts, it's pretty obvious that the trust keys shouldn't be associated with the mining part.

I barely even mine it directly anymore. And there's no denying that this isn't the best coin to mine.

Investing and holding is a different thing.

Might not be the best coin to mine but you can at least break even or make a tiny profit with current price and difficulty. But then again I believe that is the point of association between trust keys and mining. More miners is more security so its not a bad idea to incentivize people to maintain the network, the key here is finding a way to make the coin more attractive to support with constant mining whilst not making it so bad that opportunistic miners would never touch it.

From my opinion, the most attractive way for miners to mine this or any coin is to firstly have a pool. Otherwise ask yourself, how many would wanna download the entire block chain and on top of that just break even?

I've got most of my Niro with mining other coins and I stopped gathering quite sometime back. My plan wasn't to mine or collect forever.
 
I believe just keeping our wallets open for staking already helps secure the network, no?

[borris123]

After reading all the posts, it's pretty obvious that the trust keys shouldn't be associated with the mining part.

I barely even mine it directly anymore. And there's no denying that this isn't the best coin to mine.

Investing and holding is a different thing.

Might not be the best coin to mine but you can at least break even or make a tiny profit with current price and difficulty. But then again I believe that is the point of association between trust keys and mining. More miners is more security so its not a bad idea to incentivize people to maintain the network, the key here is finding a way to make the coin more attractive to support with constant mining whilst not making it so bad that opportunistic miners would never touch it.

From my opinion, the most attractive way for miners to mine this or any coin is to firstly have a pool. Otherwise ask yourself, how many would wanna download the entire block chain and on top of that just break even?

I've got most of my Niro with mining other coins and I stopped gathering quite sometime back. My plan wasn't to mine or collect forever.
 
I believe just keeping our wallets open for staking already helps secure the network, no?

If the blockchain didn't take year download it wouldn't be so bad. How long till the update to fix this?

[merc84]

You can download the blockchain in about 12hours... and there is also recent bootstrap to make it easier

[tokyopotato]

I believe just keeping our wallets open for staking already helps secure the network, no?

Absolutely it helps secure the network

We are making progress although it is slow and we do wish it could be done quicker.  At the moment, Videlicet is the only developer contributing to the codebase but discussions are happening, code is being written, projects are being organized, people are coming onboard to help.

For quite some time, we've discussed changing the name of the currency token, known as the Niro. I recently bounced the idea of the "Linx" (like links in a chain, Nexus Linx) in our slack channel.  But it's just not quite right.  We want as much community input and participation as possible, so anyone's ideas are welcome.  Sometimes, these small details make a very big difference as marketing and branding are important.  What ideas do you guys have for alternative names for the network and/or token?  This is kind of an afterthought, as we are happy with Nexus Niro for the time being, but we want to make sure we stay on the forefront of marketing and development in this industry.  We remain open to as much community input and participation as possible.  We will continue playing the long-game.  As we have seen recently, many clone-based altcoins were effectively wiped out by the demise of Cryptsy, many of them scams that brought no innovation to Bitcoin.  Cryptsy was the lifeline for those coins.  This is not the case with Nexus.  We do have plans to bring in funding in the future and we believe there will be a synchronous time for this to happen.

We Are Nexus

[Crypthos]

Was watching some videos about cryptos, right now Dash is coming with a bunch of new features which is cool but I think with time Nexus will do all that but better, one of the reasons why i find Nexus so appealing is because its security, hybrid POW / nPOS mining, and future adoption of multi-threaded tech on its blockchain, but i was searching about Ethereum which is another big project, Could Nexus compete with Ethereum?, how secure is that blockchain?

[tokyopotato]

Was watching some videos about cryptos, right now Dash is coming with a bunch of new features which is cool but I think with time Nexus will do all that and but better, one of the reasons why i find Nexus so appealing is because its security, hybrid POW / nPOS mining, and future adoption of multi-threaded tech on its blockchain, but i was searching about Ethereum which is another big project, Could Nexus compete with Ethereum?, how secure is that blockchain?

I would definitely agree with you about what is appealing about Nexus.  I'm not particularly happy with the way Dash was instamined nor am I happy with the way that Dash achieves coin mixing and instant transactions.  It's a very creative and functional use of masternodes, but I believe having a financial barrier to entry for masternodes is the wrong approach.  We don't want to build a system just for the rich to profit from.  This is why we created the Trust nodes, so that nodes are rewarded for their time rather than the number of coins they hold.  In many ways, time is more valuable than money because you can never get time back, but you can always get money back.  Regardless, Evan Duffield is a creative developer with good skills, and likely made a small fortune in a short time from his coin.  It's so far proved very useful and successful, so hats off to him for his success in this area and for his diligence in maintaining the coin.

Ethereum is very interesting but is also perhaps the most overhyped project in the cryptosphere.  It remains to be seen whether or not a turing complete blockchain is necessary or even useful.  I don't think anyone has actually found a use case that really stands out for this.  Chances are that the Ethereum blockchain will be huge (as in size of data/chain) if it is ever used in the way it has been presented.  Looking at the Bitcoin arena, we see that decentralization is an important feature.  Ripple once branded itself that it would be decentralized, but once companies start getting into how these things will actually work, it appears that these blockchains will in fact be highly centralized server farms and data centers, which ultimately makes the entire blockchain pointless if it's only being ran on a few large datacenters.

I'm more bullish on technology like Factom for data solutions, which use the Bitcoin blockchain for auditing the Factom system in real-time.

What is the ultimate goal here? What is really the ultimate needs of humanity?  We need systems that are censorship resistant, decentralized, and free from government/political interference.  That's what makes Bitcoin interesting.  Without those things Bitcoin is just data-centralized P2P paypal and Ethereum is just a data-centralized P2P scripting language with a token.

Nexus is focusing mostly on ensuring the protocol can remain quantum secure and decentralized, with the long-term goal of creating a system which will be able to secure the Bitcoin blockchain in the event that SHA2 becomes vulnerable to quantum computers.  Nexus wants to take all of the properties that Bitcoin and Peercoin started, and improve upon them.

In addition, Nexus seeks to create governance structures for the community that comes to adopt this currency for its' own use.  Nexus seeks to improve trust systems and through the use of developer and recycler/ambassador channels, provide long-term funding and long-term sustainability for the protocol and the Nexusoft company that will be built around this protocol.

I do not speak for Videlicet or the community but this is a short reasons for why I am here.  Because Videlicet is probably one of the best coders in the blockchain industry, and I believe you will all come to realize this very soon.

[nara1892]

i've written nexus article in indonesian

http://cryptooid.blogspot.co.id/2016/01/nexus-niro.html#

 

[YourMom420]

ill never understand why this project doesnt get so much more love

[tokyopotato]

i've written nexus article in indonesian

http://cryptooid.blogspot.co.id/2016/01/nexus-niro.html#

 

Thank you, that is very appreciated.

[tokyopotato]

ill never understand why this project doesnt get so much more love

Thanks, we are working toward getting more love. It will come in time.   Being nimble and pragmatic is a good thing right now.  We have some ideas we are bouncing around.  Feel free to join us anytime, https://nexusoft.slack.com/messages/general/details/

[YourMom420]

already in the slack im twiztid

[AliMan]

Thought I'd bring this up since this has been long forgotten.

Wolf said that a he made a new miner for the green team and sold it to someone, but then he also said that Viz would release it pretty soon, and this was something like 3 months back.

This is also the reason why I stopped mining. Red team got their update a long time back, green team got a beta miner that wasn't finding blocks, and now this.

I think it's better to fix kinda older patches first rather than just innovating on new ones.




I'll be on this coin for a little while longer, but if appropriate responses aren't given within the respective times, then I'll have to pack my things up.

It's been over a year since I'm with you guys, we hit bittrex in January 2015, but unless the foundations aren't right, then I cannot be a part of it.

[toilet]

how can i obtain an invite for the nexusoft slack channel?

[Namsbreh]

Thought I'd bring this up since this has been long forgotten.

Wolf said that a he made a new miner for the green team and sold it to someone, but then he also said that Viz would release it pretty soon, and this was something like 3 months back.

This is also the reason why I stopped mining. Red team got their update a long time back, green team got a beta miner that wasn't finding blocks, and now this.

I think it's better to fix kinda older patches first rather than just innovating on new ones.




I'll be on this coin for a little while longer, but if appropriate responses aren't given within the respective times, then I'll have to pack my things up.

It's been over a year since I'm with you guys, we hit bittrex in January 2015, but unless the foundations aren't right, then I cannot be a part of it.

Yeah, Wolf made an optimized miner for whitesoxcrypto, it was a favour for a friend, and yes he said Viz was going to purchase and release, I recall it was doing 140mh on a 290x.

I spoke with DJM months ago and at the time he said there was not much room for improvement/optimization of the Nvidia miner.

I came back and mined some Niro a few weeks ago but stopped as everytime i brought my miners online, someone else brought their's online too pushing the diff way up, kinda like they didn't want to share the blocks.

[Namsbreh]

ill never understand why this project doesnt get so much more love

IMHO it is because there are no uses for Niro yet, the majority of holders are speculators rather than users.  Bittrex is now the home of the scamcoins, Niro needs to get listed on Polo to enable a new audience to come on board.