Topic: NobleCoin[NOBL] - 8% PoS | 1Yr+ | MARKETPLACE | PAY | GIFT | CHARITIES/MERCHANTS - page 147. (Read 1053172 times)

We are discussing tests now. This is just play money.

Similarly "mainnet" tests I will be documenting. Again play money.

So testnet PoW blocks/coins are valid in NOBL network or they are just for test purposes ?

Plan for PoS migration:

1. Test PoS II on testnet - this was accomplished by james6546 and myself.
2. Adjust PoS II parameters for Noblecoin. Switch from variable interest rate towards flat rate of 8%. - This was delivered by Joe.
3. Prepare and commence tests on mainnet. - this is current phase.
4. If any issues are spotted look into and fix them. Then test again.
5. If no issues or all fixed agree on switchover date and communicate it to all external parties: exchanges, mining pools etc.
6. Perform the switch on specified date.


For current phase I would like to ask for as many volunteers as possible. I am going to provide more details, create some test scenarios which will be published tomorrow (Monday).

Tentative date when tests will begin - Tuesday or Wednesday this week. I am aiming to provide earlier notice, preferably 24h notice.

Thank you Joe for helping us with this migration and adjusting PoS II parameters for us! This looks great. Could you provide your Noblecoin's address please? We should start thinking about some bounty.

Bounty for Joe
I would like to propose we gather bounty for Joe. AFAIK he does not hold huge stake of Noblecoin and is helping just because he likes this coin. It would be nice if we could show our appreciation this way.

Hi All, here is the NOBL PoS-II source code:

https://github.com/magi-project/m-Noblecoin

Win32 Qt wallet: http://coinmagi.org/files/m-Noblecoin/noblecoin-win32-v1.0.0.1.zip

Specs:
Minimum coin age: 2 hours (max determined by PoS-II)
Stake interest: 8%
Block time: 1.5 minutes
Maturity: 120
RPC port:    55881, Testnet: 45881
Port: 55882, Testnet: 45882

We will keep PoW for some time, block time: 6 minutes. Currently the testnet PoW block reward: 50,000 NOBL

The PoS-II specifications are shown in the following figure (sorry I have to use curves):


The left figure shows the coin age. The optimum number of coins per transaction for staking should be less than 2000K NOBL, that can also be seen in the right figure (the maximum coin age can be achieved for a specific number of coins). After 2000K NOBL, staking with more coins is no more advantageous.

I have already opened up the testnet nodes; the block chain is keeping going right now. You're free to test it out, simply run the wallet (need to enable the testnet mode), and then get some mining coins for staking. If node is needed, use the following:

For mining, go to debug window, issue command"

eagleflies will enable the mainnet for test purpose. Stay tuned.

Please let me know any thing which needs tuned.

NOTE: Please rename your prior noblecoin folder to something else, be sure to make a backup.

I guess the most important thing is working with the exchanges so that things like craptsy throwing the coin wallet there into permanent maintenance mode does not kill the coin, too.

We will start tests early next week. This is going to take some time - at least a week so do not worry about missing them.

It is important to gather as many people as possible in order to better simulate the switch so please consider taking part in it. I will provide more details about procedure after weekend.

I will make a post today about PoS (I'm in EST time). The interest will be 8% as agreed priorly. I will post details. Stay tuned. 

And also what are the planned specifications? A higher POS interest rate then 10% is in my opinion
not very healthy (best rate i see is between 5-10%).

Any update on the pos switch? Can we expect a testnet This weekend?

Nice turnaround happening on this coin's price lately, is something happening with supply due to the proposed coin swap or is there some other thread for NOBL that covers news that is driving it? 

Do you make benefits on the marketplace? (considering buying, but won't if that won't bring you anything)

(btw, it still links MintPal VoS & poloniEx, but not Bittrex)


Good!

14k+ addresses have a non-zero balance, but it's probably more like 2000-3000 users as far as blockchain tells, about a thousand wallets "probably" confirmed, plus a couple thousand "untainted" addresses with a higher than 10k NOBL balance, which may or may not be part of previously mentioned wallets.

Few words on my role as I see it:

I have stepped in to lead the efforts to migrate to PoS. Do not intend to take over Rofo's role if he is still around. And genuinely happy he started posting again in this thread.

PM here, in case I do not monitor the thread


It should handle it automatically: the exchanges will have the same current-chain balances on the new chain.

The transition would however involve taking a "snapshot" of the current chain, so exchanges will have to be notified to stop deposits/withdrawals on the old chain, until they are on the new client/chain.

This will be roughly similar to a hard fork, with the added benefit nobody has to keep mining the old chain (see below).


This does not help much in practice... in most exchange-based swaps, people are usually stuck if they did not move funds *before* the swap date.

This is because even if there is several months to perform the swap, nobody is mining the old chain (or staking on the old chain), and so it gets stuck, and you can't transfer anything on the old chain, because there are no new blocks.

Sometimes the dev invests some hashrate to keep the old chain moving so people can transfer, this is "noble" but this comes at a cost, especially when starting with a high diff and slowish diff retargets, as some blocks can take days. Worst case being a multipool jumping in at the last minute and pumping the diff, which they will tend to do if they have coins leftover they want to swap and want to ensure the chain does not get stuck until they have confirmed their transfer.

It will still be there. The idea is to have new blockchain but preserving state of current one.

how would this solution handle the NOBL that is currently sitting on exchanges?

You will probably be able to discuss this with Rofo soon when he has full access to a secure pc environment again

I guess this indeed means that Rofo is still working on the service part and co-excistence of Nobl / NOXT. However, he does not want to be a technological developer for Nobl.

I think some capable people have stepped up and formed strategic alliances with some good pos devs to sort the technological part out. Once we have the POS wallet (any day now, yeah!), things should start getting some shape again.

so this means (for clarification for others to know,)

you will be assigning positions to others?

stepping down? (my guess is this is a no, since you said you are not jumping ship)

continuing work on your goals and letting others shoulder other things like POS /POS-II if they are willing to do so? (this is what I am taking from this personally )

I still want to hold a more indepth discussion with you on what I wrote you about.

The marketplace, Steps, gift card section and Pay are not going anywhere. The Marketplace is currently getting an overhaul first.

I'm not jumping ship. The focus is still on crypto services. I just stated I was done being held solely accountable and responsible for a global cryptocurrency with approx. 10,000+ wallets (I think it was?). Especially because the direction it is taking is not one of my choosing, but still one I support for democratic reasons.