Topic: [ANN][DASH] Dash (dash.org) | First Self-Funding Self-Governing Crypto Currency - page 6181. (Read 9723768 times)

If it was like this nothing could prevent someone to build thousand masternodes with the same 1000 DRK.

I don't like how you leech the money out for DRK for your tropical vision. Go to economics section for your brewing, minidumps, price alteration wishes please

If that's how it works, then I wonder why a second machine is necessary? If you only need the wallet present at the initial verification step, why not have a single masternode that verifies the wallet, closes it, and allows you to remove it from the machine?

Me thinks we need to issue a few bounties for hackers to test the possible attack vectors against masternode operation, cheating, payments etc, prior to going live (perhaps RC3+?). There's too much new stuff in there and code does have the annoying tendency to break, so... better harden it now than have nasty surprises later on.

If that's how it works, then I wonder why a second machine is necessary? If you only need the wallet present at the initial verification step, why not have a single masternode that verifies the wallet, closes it, and allows you to remove it from the machine?

Miners live in their own cryptobubble... just because they can't mine a coin as well "it's dead"... lol. We all know that BTC *really* died when ASICs came onboard, lol.

Then again, LTC "sold" itself as the solution to the |ASIC problem" and failed. So, in a sense, it fails to deliver on it's core promise.

DRK, on the other hand, makes no promise for long-term ASIC resistance (as litecoin devs admitted, anything GPU mineable is ASIC-able) neither is ASIC immunity its main selling point.

If that's how it works, then I wonder why a second machine is necessary? If you only need the wallet present at the initial verification step, why not have a single masternode that verifies the wallet, closes it, and allows you to remove it from the machine?

can we raise the price a bit?

My guess is that masternodeA (the one holding the coins) registers in the network like "hey, I want to be a masternode, and I hold 1k DRK, you can check it, and my "masternodeaddr" is this 'masternodeB' (which has 0DRKs)", then the network verifies that masternodeA has 1k DRKs and registers masternodeB in the list of masternodes. When you get the list of masternodes you only get masternodeB.

I guess someone could sniff that initial part of the protocol and find out that masternodeA has 1k DRKs masternodeB has 0 DRKs, but I would say that you don't really even need to have masternodeA available in the network as long as the wallet holds the 1k DRKs, so (and this is just thinking and writing the same time) you could probable even disconnect masternodeA from the network after the initial registration and just leave masternodeB in the network.

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Now we already find first block.

Masternode has to communicate with the node holding the coins, to verify the 1000 DRK are there. So if the masternode can do that, so can an attacker who has compromised the masternode. From there, they just need to break into the secondary node holding the wallet, which will presumably have no better security than the one they already broke into.

I very much doubt the remote master node knows the private keys, because as you have pointed out, it would be of no advantage.

This is off topic but bitcoinfx is your avatar from desert punk?

Masternode has to communicate with the node holding the coins, to verify the 1000 DRK are there. So if the masternode can do that, so can an attacker who has compromised the masternode. From there, they just need to break into the secondary node holding the wallet, which will presumably have no better security than the one they already broke into.

It's no different than them just sitting there in your open qt wallet. If you have an encrypted Darkcoin wallet it must be unencrypted for a short time while you are starting the master node. All coins remain on the local machine's wallet and do not move. Your local machine has to get the private keys, sign a message with them, send it to the server, and then have the server broadcast a message proving you own them in order to start a masternode, which is why it must be unencrypted. If Evan didn't do this, a single 1000 DRK wallet could be copied to infinite machines to run master nodes.

Because your master node IP is static, broadcast to the network, and an attacker knows 1000 DRK is on it. Your local machine IP is not listed on the master node list with the 2 machine setup and there are no coins on the server that's running the master node. Double win.

If we could get a port of Armory for Darkcoin you could theoretically do all this with the coins in cold storage. Triple win.

Ok, and nobody can sell those coins, or withdraw?  They system will know?

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Well, 2 things.  First, you don't even have to have your coins on a machine.  just make a backup of your wallet while it's running, ie: Files => Backup Wallet and give it a name so you know where it came from, such as DRK_Old_Laptop.dat and put it on a jump drive (or take all your backups and put them on several jump drives, then keep those safe in different areas.)

Second way to backup is to simply open up the darkcoin folder when the wallet in NOT running, (in windows it's User/You/AppData/darkcoin/wallet.dat), rename the wallet as above to show which wallet it is and back it up on a jump drive again.

Finally, you can always download the RC1 wallet for windows, deposit all your distributed coins into that one, make a backup of that single wallet.dat file and close out the program (remove the darkcoin folder) from your windows machine.  NOw your coins are in "cold storage" and off line.

1. Please make sure you set a passphrase before you save your wallets, and that it is both complex and that you DON'T FORGET IT EVER!!!

2.  You can even write your passphrase down in a txt file and store it with the jump drives.  But remember, anyone that can get ahold of your jump drives can get your coins.  This can be a good thing if something should happen to you and you want family members to have access to the coin.  This is like having cash hidden away in your home.  Someone could still physically break into your home and steal it.

3.  To get your coins back out of cold storage, install a wallet, then replace the wallet.dat in the darkcoin folder with your DRK_Old_Laptop.dat and rename it to wallet.dat.  Do this when the wallet is closed, not running, then restart the wallet and your coins will immediately be there (as long as the wallet was sync'd)