Topic: [ANN] Sentinelcoin! | Keccak25 Algo | Contribute to NXT Security to Get it Free (Read 1982 times)

bleh!!! more nxty bullshit

Updated the original post with information about the possible switch over to a BOINC algo.

I pronounce it "Keck-Kack Twenty-Five." Though it might be more profitable to mint it right now rather than buy it. Minting is relatively easy.

how do you pronounce that algo i need to ask my mom for some money to buy

Not sure what that means? I am just as confused as you.

Was this a good one??? :

NXT is easy to set up if you get the Wesley Client. It is just like installing any normal computer program on Mac or PC. Linux doesn't have a Wesley Client but if you are using Linux, you should be expecting things to be a little more complicated...

The largest hurdle to more NXT use is the difficulty in setting up and getting things going. Whoever greatly simplifies that process will be minting gold.

It is already released! For a quick guide on how to get started minting, follow this link: https://docs.google.com/document/d/1_QdcrY1q6_n9J3NOcyoczGqELIeCy6S6zNG2Cj22bj8/

Make sure to replace ELEMS with STNLC in the config file!

Great! Any estimates about release date?

Right now, there no Keccak25 ASICS and no Minting software for GPUs. So for the moment in is CPU only. I heard from somewhere that GPU use on this particular Algo in not profitable but I am not positive of that.

It will be only mineable with CPUs?

Yes and no. It was envisioned before NXT was even made. The idea was that the MS would exist to replace altcoins all together and offer the best of both the PoW world (e.g. instant transactions) and the PoW world (e.g. fair distribution). Right now, it has the effect of creating demand around NXT because it requires NXT to do almost everything.

Right now, Mintable MSCoins require NXT to do things and can only be traded with other people for NXT. This works like a PoW coin but can be exchanged for NXT for less fees than a centralized cryptocurrency exchange would take as it is run in a decentralized exchange. This is still annoying as you have to trade the coin for NXT occasionally to have the NXT needed to mint and sell.

I can see your frustration as it is blatently a way to increase demand for NXT. On the other hand, MSCoins offer benefits that other coins cannot. For example, they can be traded for NXT in a 100% decentralized exchange for very little cost whereas other altcoins need to go through a centralized exchange platform like cryptsy that is liable to get hacked (like Btr and Mt. Gox) and charge higher exchange fees. Further, MSCoins can be easily used to buy and sell NXT Assets and take advantage of other NXT features (such as regexs for buyer confirmation). It all occurs within the existing NXT Platform so it is easy to manage an entire portfolio of MSCoins from a single computer application without a need for running multiple wallets, and because the exchange is integrated, it is easy to swap MSCoins for a crypto that is traded against USD without needing to set up a separate login on a different website.

So, to answer your question... Yes, it is a way to increase demand for NXT. Still, it offers a great variety of benifits that other cryptocurrencies don't have which makes it worth it and it was planned from the beginning by BCNext before NXT was even released.

NXT MS platform i think is created to add demand for NXT, since every transaction either minting/mining coins, (or even sending coins? and reward of stake PoS coin generation? pls correct me if im wrong) requires an amount of NXT.  everything revolves around NXT,

Hardly, MSCoins are not made using any source code. They are issued using the NXT platform without any coding involved.

Nothing interested here , seems like another change of variables in source code.

New algo
I heard it now

What do you know mate, Kreccak is more effective than Keccak!  It is brand new algo, you must educate a bit

Krack ?  lol..
Not interested.. Pass..
Next one please..

ah sorry.. NXT...

EDIT:

BTW: It is "Keccak" not "Kreccak"...