Topic: | Nxt | Blockchain Platform | Proof of Stake | Official - page 180. (Read 941285 times)

Current 1.7 changelog:

This topic is for technical details on how a migration to dynamic, server-side calculated fees can be achieved.

Regardless of the exact fee values we set to take effect after the 1.7 hardfork, there will always be a need to adjust the fees in response to market conditions, so keeping a hardcoded fee of 1 NXT for most transaction types is no longer a viable approach for client applications. But hardcoding the logic to calculate minimum fees on the client side, and keeping it up to date with this and future fee changes is also not maintainable. Fortunately, we have the feature that submitting a transaction with feeNQT=0 will have the server calculate the minimum fee needed automatically, and this feature is alredy in production in the 1.5 and 1.6 branches. This works for transactions being signed on the server only, as once the transaction bytes are signed, it is no longer possible to change any of them, including the fee. But for client-side signing, the client can first submit the transaction with feeNQT=0, broadcast=false, and publicKey instead of secretPhrase, and allow the server to calculate the required fee and prepare the unsigned transaction, to be signed client-side after possibly confirming the fee with the user. To minimize the impact of fee changes in 1.7 and avoid having to hardcode any fee logic in the clients, developers should start modifying their code to take advantage of this method of fee calculation, without waiting for the first 1.7.0e release. A migration to prunable messages (achived by adding messageIsPrunable=true parameter when submitting the transaction) must also be started, without waiting for 1.7, and when using a permanent message is prefered and the user is willing to pay the higher fee, the future limit of 160 bytes should be kept in mind, possibly starting to enforce it in client-side applications even now.

To make the migration to dynamic server-side fee calculation even easier, we plan to add a configuration parameter in nxt.properties. When enabled (default will be disabled), the server will ignore invalid (lower than the minimum) fees submitted by the users, and will replace those with the minimum required fee, as if the user has specified a fee of 0. This can of course only work for unsigned transactions, if the transaction is already signed on the client side with an insufficient fee, that fee can no longer be changed by the server.

I would like to bring to everyone's attention the important changes regarding the new minimum fees and size limits planned to take effect at the 1.7 hardfork, as they will very likely affect all clients that have hardcoded minimum fees or use permanent messages. See the current 1.7 changelog for details: https://nxtforum.org/general-discussion/current-1-7-changelog

There are several reasons for these changes. Most importantly, with the improved support for prunable data introduced in 1.6, there is no excuse to let users continue using permanent instead of prunable messages. To encourage a switch to prunable, the fees for permanent blockchain space must be increased, and the maximum message size limit reduced. We also want to make fees proportionate to the actual blockchain space consumed, charging a fixed fee per each 32 bytes, and to make that consistent for all transaction types which store data in the blockchain. For a few transaction types (aliases, account info, DGS goods) it still makes sense to allow a higher data size limit, for those we suggest keeping the current 1000 bytes limit, but setting the per byte fee to twice that for messages, to prevent using such transactions instead of messages. For some high fee transaction types, we have also added throttling and/or back fees spreading, to prevent spam or abuse by the forgers.

It is good to have a free permanent message allowance for every transaction, and we have tentatively set this to 32 bytes. There is a dependency between the various fees however, because if the cost per 32 bytes after the free allowance is too high, this would create a loophole for abuse, with users splitting messages into multiple transactions to fit within the free limit. To prevent such abuse, the base transaction fee (currently 1 NXT) must be roughly the same as the cost per 32 bytes.

We plan to create a poll to allow NXT holders to vote on what the base fee should be, with possible values of 1, 2, 3 or 4 NXT. Then the fees for permanent blockchain storage space (cost per 32 bytes), and all other fees, will be determined relative to this base fee, e.g. if it ends up being set to 2 NXT instead of the current 1 NXT default, all fee values proposed in the 1.7 changelog will be scaled by 2x.

Not a specific reason, a whale dumped a bit before the whole BTC pump. Then people exited most altcoin to enter the BTC hype.

It's back to 2k sat and I don't see a big resistance until 4k sat.

Usually the price fluctuate between 3k and 6k sat.

Why is nxt price completely in the toilet atm and particular reason for that?

Do you have a business and want to raise money for expanding or other goals. Use the Nxt Asset Exchange or Nxt Monetary System!

Yesterday I sold all the IPO assets of my company in 3 hours! I collected 1.350.000 NXT (about € 8500) for expanding my business!  

https://nxtforum.org/assets-board/(ann)-farla-webmedia-investing-in-a-real-life-company-monthly-dividend

UNITY!

Launch of NXTinfo.org

We are happy to announce the official launch of NXTinfo.org version 1.

NXTinfo provides a number of crucial services for NXT Asset Exchange traders and investors, including an average price calculator, a performance calculator and an asset evaluator. The latter two services  are linked to our ‘historic Nxt dividend database’ which should certainly help to guarantee added value for users of our ecosystem.

http://nxter.org/launch-of-nxtinfo-org/

Can someone please assist with this problem, I am running the Nxt wallet (shows version 2.2.0 at the top) on a Mac running OSX El Capitan version 10.11.1 (15B42). The wallet has been running perfectly for a long time and I shut it down to reboot the machine and now the Nxt wallet will not start again, when it starts up it goes through some checks and then displays the following error message:



It then comes to the last screen like:



Where it stays for hours and never opens the welcome screen and the wallet, so what can I do please?

I have tried a few times and it either freezes before the last screen or it freezes at the last screen.