Topic: [ANN][DASH] Dash (dash.org) | First Self-Funding Self-Governing Crypto Currency - page 6409. (Read 9723858 times)

I think you're missing a core concept, the master nodes are just what does the mixing and they get paid for it. They don't actually have any money in the pool anymore. Sorry things are changing really fast, I need to update the whitepaper.

"We actually never will reach max coins, since the decline is 7% a year, it goes on forever."

So my grand kids grand kids can inherit my DRK estate? Do I have to place it in escrow for them until they turn 188?

We actually never will reach max coins, since the decline is 7% a year, it goes on forever.

What happens when max coins is reached?

We're all dead when that happens at the current rate of 7% per year.

You could run a micro on EC2 for $14/mo to do it.

What happens when max coins is reached?

What happens when max coins is reached?

What happens when max coins is reached?

All the nodes would get the fees, it would be divided by all the nodes. So not just the node that processed gets it.

- windows ok? Yes
- does it have to be guaranteed to run 24/7 or can it be a desktop computer that's on 2 hours a day? 24/7 is required, otherwise you'll get the percentage your computer is on.
- public ip? port 9999 will need to be open
- static ip? doesn't matter
- is the ip compiled into the wallet? no, it's discovered
- possible to run multiple nodes on the same computer? each 1000DRK would be entered as a "ticket" for the election, so one daemon is fine.

The next stage of DarkSend

The design of Darkcoin is all about economic incentives, I've tried to bake as much of that in as possible. I've been thinking about the reliance on master nodes in our new design for securing the network and I see some room for improvement.

With the current design we will require 1000DRK to operate a master node. That requires you putting 1000DRK in a hotwallet (dangerous) only to collect the collateral fees which won't amount to much.

So what do we want?

- We want as many master nodes as possible (the more nodes the more secure the network)
- We want them to be profitable to run
- We want it to be very expensive investment to operate a master node

So I propose the following solution, each block the last master node will receive 10% of the mining reward (in addition to the reward given to the miner). So for example, if the mining reward was 19DRK the last master node will automatically receive 1.9DRK.

This also has some really great side effects:

- It creates a completely new type of investor that buys DRK and holds it (where as miners create dark coin and sell it for the most part)
- It adds a ton of full nodes to the network
- It creates demand and scarcity, which should provide a nice return for our investors

Also, these payments are completely secure. New blocks with the dividend payment made out to the incorrect master node will be rejected (the whole network knows who won the election).

At the present moment we have a chicken and egg problem. We need master nodes to support darksend and we don't want to go live with 1 or 2 master nodes. To solve this we will implement the election code into the main client, along with the payments to master nodes while DarkSend is still beta.

What type of return will you see?

- If there’s 1 capable master node, you’ll receive all payments 576*(AverageReward/10) per day

Capable Nodes, Daily Reward
1, 1094DRK
2, 547DKR
5, 218DRK
10, 109DRK
20, 54DRK
50, 21DRK
100, 11DRK

As you can see, we’ll quickly reach equilibrium with the price and at the same time this will create buying pressure raising the price more and causing the network to become increasingly secure.

Also, we can build our master node network now in the immediate. Users can buy the darkcoin needed to run one and they will just run the beta client. We'll open source the election code and hard fork to add the payments to master nodes in and our network will be secure by the time we're ready to do a full launch.

I really love the idea, thoughts?

Will be possible to use VPS servers as node? Benefits: uptime, good hardware, bandwidth (not important maybe)

Thinking about how to violate the system with the mining reward: Say I am a pool operator and find blocks frequently. Is there a way where I can forge the transactions of the last block to make it appear that the DarkSend was performed in Masternode A instead of Masternode B, so that A gets the mining fee instead of B who actually performed it?

Thinking about how to violate the system with the mining reward: Say I am a pool operator and find blocks frequently. Is there a way where I can forge the transactions of the last block to make it appear that the DarkSend was performed in Masternode A instead of Masternode B, so that A gets the mining fee instead of B who actually performed it?

I am not sure of this.....

A few posts ago we were talking about obfuscated IPs and adding a stronger layer of anonymity. Why would one want to run servers with known IP addresses especially if there are other kind of ramifications besides denial/service poisoning?

The next stage of DarkSend

The design of Darkcoin is all about economic incentives, I've tried to bake as much of that in as possible. I've been thinking about the reliance on master nodes in our new design for securing the network and I see some room for improvement.

With the current design we will require 1000DRK to operate a master node. That requires you putting 1000DRK in a hotwallet (dangerous) only to collect the collateral fees which won't amount to much.

So what do we want?

- We want as many master nodes as possible (the more nodes the more secure the network)
- We want them to be profitable to run
- We want it to be very expensive investment to operate a master node

So I propose the following solution, each block the last master node will receive 10% of the mining reward (in addition to the reward given to the miner). So for example, if the mining reward was 19DRK the last master node will automatically receive 1.9DRK.

This also has some really great side effects:

- It creates a completely new type of investor that buys DRK and holds it (where as miners create dark coin and sell it for the most part)
- It adds a ton of full nodes to the network
- It creates demand and scarcity, which should provide a nice return for our investors

Also, these payments are completely secure. New blocks with the dividend payment made out to the incorrect master node will be rejected (the whole network knows who won the election).

At the present moment we have a chicken and egg problem. We need master nodes to support darksend and we don't want to go live with 1 or 2 master nodes. To solve this we will implement the election code into the main client, along with the payments to master nodes while DarkSend is still beta.

What type of return will you see?

- If there’s 1 capable master node, you’ll receive all payments 576*(AverageReward/10) per day

Capable Nodes, Daily Reward
1, 1094DRK
2, 547DKR
5, 218DRK
10, 109DRK
20, 54DRK
50, 21DRK
100, 11DRK

As you can see, we’ll quickly reach equilibrium with the price and at the same time this will create buying pressure raising the price more and causing the network to become increasingly secure.

Also, we can build our master node network now in the immediate. Users can buy the darkcoin needed to run one and they will just run the beta client. We'll open source the election code and hard fork to add the payments to master nodes in and our network will be secure by the time we're ready to do a full launch.

I really love the idea, thoughts?