Topic: NobleCoin[NOBL] - 8% PoS | 1Yr+ | MARKETPLACE | PAY | GIFT | CHARITIES/MERCHANTS - page 142. (Read 1053098 times)

Nice and smooth transition, good job guys! Just a shame theres no mining anymore 

Yes there are a lot of "sync-checkpoint at xxxxxx" looks good.

The way I hope that it will turn out is that we assist in the changeover to PoS, then rofo comes in and takes the helm back. But I guess it is anyones guess at the moment...

What is Rofo doing here... has this turned into a community take over?

I'm ready for the transition

It is based on amount of coins and age. Age will start from 0 on new blockchain.

Hehe, congratulations!

 is the staking still based on age, and does age reset to zero with new blockchain?

(Wow, ive been lurking for so long i didnt even see this was my 1st post )

IMPORTANT PLEASE READ!

Migration to PoS is scheduled to happen after block height #534500 which should be around 5PM GMT on 4th of March.

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Links to PoS wallets
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Windows version: http://noble.ilikebtc.com/NobleCoin-Qt-v2.0.0.zip
Mac version: http://coinmagi.org/files/Noblecoin/Noblecoin-Qt.dmg  (thank you Joe!)
Source: https://github.com/eagleflies/noblecoin/

------------------------------------------------
More information about PoS + PoW
------------------------------------------------

First three weeks we will have both PoS + PoW mining. PoW mining will be disabled after block 25 200 which will happen approx. on the 21st day after the switch.

PoW parameters:
- algo: M7M which is believed to be CPU only for a time being
- reward per block: 1000
- how fast blocks are generated: average time between blocks will be about 6 minutes
- how to mine: you can mine with your wallet. just go to console and type 'setgenerate true 1'. this will enable CPU mining using 1 core of your CPU.
you can use more cores if you want to mine more aggressively

PoS parameters:
- algo: we use PoS II from Magi Coin with little bit of tweaking
- 8% interest rate
- average maximum number of coins generated by PoS per day: around 446 000, which is 6,1% of current supply rate
- min coin age: 2 hours
- how to stake: just keep your wallet online. the longer it is online the more secure is whole network. if you cannot keep your wallet online 24/7
this is still fine but you will earn bit more interests if it is online all the time
- recommended size of transactions in a wallet: if your wallet is big (e.g. bigger than 5-10 mil) it makes sense to split it into smaller pieces.
in theory the best transaction size is 2 mil.

Git repository:
https://github.com/eagleflies/noblecoin

Documentation:
https://github.com/eagleflies/noblecoin/wiki



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What to do to migrate funds from PoW blockchain to future PoS blockchain
---------------------------------------------------------------------------------------------------

1. Explanation of how transition happens.

Currently PoW blockchain contains information about all noblecoin's balances. At the time of switch to PoS snapshot (snapshot means: I will record all addresses and what amount of funds they held) of PoW blockchain will be taken and exactly same amounts of noblecoins will be distributed over new blockchain. After the switch it will no longer be important if someone sends or receives money on PoW blockchain since switch already happened. Everyone will be using PoS wallets and PoS blockchain.

2. How to get access to your funds on new PoS blockchain.

2.1. Transfer all your funds to an exchange before the switch happens.

This is the 'lazy method' since you do not need to learn anything new.

If you do this then exchange will take care of moving your money onto new blockchain. After the switch you should transfer the money into your PoS wallet to be able to stake.  

You have to move the funds before the switch happens. If you keep them longer then you will have to use other method.

2.2. Move your private keys into new PoS wallet using -salvagewallet method.

This is the recommended method if you are not scared of running few commands. Documentation is there https://github.com/eagleflies/noblecoin/wiki/Importing-private-keys-from-old-wallet.dat-using---salvagewallet-option

Good news is you can try this method now on test network. If everything works and you are confident you can repeat same steps after the switch.

If your wallet is encrypted things become more complex as there is no way to remove encryption AFAIK. You have two options:

• create new un-encrypted PoW wallet and transfer your funds there. then you will be able to follow -salvagewallet method to move the keys into PoS wallet
• send money to an exchange - 2.1. method

2.3. Move private keys into new PoS wallet using provided script

If you can't follow methods above or just feeling adventurous feel free to follow the steps documented at https://github.com/eagleflies/noblecoin
/wiki/Importing-private-keys-using-a-script

2.4. Move private keys into new PoS wallet manually

If you want to fully understand how private keys are moved from one wallet into another or if you are control freak please follow manual method which is documented there: https://github.com/eagleflies/noblecoin/wiki/Manual-way-of-importing-private-keys

3. Staking

Staking earns you interest and secures the network. It does not consume much CPU power (unless you start PoW mining which will be possible during first couple of weeks after transition).

My request is: please seriously consider keeping your Noblecoin's wallet online after the switch in order to protect the network and to earn some interest.

4. Make sure time in your computer is correct

This is important if you want to stake. Computers with clock which is off most likely will not be able to earn any interest.

Easiest way to do this is to make your computer synchronize time automatically:

• Windows: https://support.microsoft.com/kb/307897
• Ubuntu: https://www.digitalocean.com/community/tutorials/how-to-set-up-time-synchronization-on-ubuntu-12-04
• Mac OS: ??

Migration to PoS is scheduled to happen after block height #534500 which should be around 5PM GMT on 4th of March.

Very good job on communication!

New test PoS wallet - version 2015-02-14

If you participate in tests please stop test wallet. Download and run new version.

Windows -> http://104.236.195.137/noblecoin-qt-20150214.zip  md5sum: f0c0ff96400fa0cf79e131dd34792025
Linux -> https://github.com/eagleflies/noblecoin/

Test block explorer -> https://chainz.cryptoid.info/nobles/
Documentation -> https://github.com/eagleflies/noblecoin/wiki

Changes:
- provides ability to run checkpoint server

Explanation:
- many PoS currencies run such a server. its main purpose is to increase security by making it (much?) harder for attacker to create new fork and doublespend. possible problems: under certain (and rare) conditions such a server may cause problems to the network. also if someone is able to hack into such a server he can also cause problems. also rogue dev controlling such a server can cause problems

Test plan:
- test checkpoint server is operating.
- if you run previous version of test wallet you will probably find errors in debug.log:
"ERROR: CSyncCheckpoint::CheckSignature() : verify signature failed"
- with new version of test wallet you should find in debug.log messages:
"ProcessSyncCheckpoint: sync-checkpoint at b18a221d0aa13e6356846d39b64eed15ef0e48fd38b9451b61ad221de309192e"
- Could you please confirm that after upgrade to this version you see the latter messages?

Future tests:
- if this wallet works fine current plan is to test one more change to the code. then if everything works fine proceed with the switch to PoS wallet.

Plan for mainnet:
- I am still learning about checkpoint server. On one side it is really useful and strenghtens the network. On the other side it can lead to issues (under rare conditions). Most probaby checkpoint server will not be enabled just after switch to PoS wallet. We will discuss and test it later. However it is important to add this code now as it allows us to avoid hardfork later if such server is needed.

Tentative date of switch to PoS: 2015-02-26

I will do it.

Test network does not allow PoW mining anymore past block #7000. But you will be able to use your cores on mainnet after the switch

Agree make sure everything is secure before we think about moving on!

That is a cool idea as long as it didn't kill your battery/use up too much data.

One thing at a time though dude, lets get this PoS thing finished then we can look at where we are going next

I'm glad this coin is doing good so far and I know that it will increase high in value. Anyways are there any plans for a mobile wallet app? A staking mobile wallet would be INCREDIBLE

Update on PoS wallet testing 2015-02-13

- 7 days passed on test blockchain
- we are at block 7431 now
- everything looks good so far
- PoS diff reached new high above 3. I've never thought we would reach that high with test network
- PoW mining is disabled now since we passed block 7000 which was the cutoff block. now the only way to mine new test Noblecoins is by staking

All our test objectives were completed. I would like to congratulate everyone who helped with tests.

However I am going to continue to stake for few more days while preparations are being made for real switch. You can quit tests now, but you can also keep your wallet staking. The more tests the better

Windows wallet: http://104.236.195.137/noblecoin-qt.zip
Source code: https://github.com/eagleflies/noblecoin/
Mac wallet: http://coinmagi.org/files/Noblecoin/Noblecoin-Qt.dmg

Test block explorer: https://chainz.cryptoid.info/nobles/#

Documentation: https://github.com/eagleflies/noblecoin/wiki
FAQ: https://github.com/eagleflies/noblecoin/wiki/FAQ

Plan for real blockchain is to switch this month. This is still tentative date as things may be delayed if we hit any issues. But I will try to make an effort to do it in February.

8-cores going to blast away

It is not scrypt but M7M which is supposed to be mineable only by CPU nowadays.

It will be a CPU only PoW algo (plus PoS) for a set amount of time, e.g. a month, which will enable to PoS coins to age and start staking to help prevent an attack. Then PoW will turn off and it will be PoS only.

So what then??? We can mine scrypt and its also pos?