https://blog.ethereum.org/2014/11/25/proof-stake-learned-love-weak-subjectivity/
Nice article by Vitalik Buterin about PoS.
Topic: | Nxt | Blockchain Platform | Proof of Stake | Official - page 251. (Read 941261 times)
Announcement
Friends and supporters of ORA, I am very pleased to announce that ORA will be a Monetary System (MS) currency running on top of the NXT platform.
As you will no doubt be aware, the founding members of ORA have taken quite a while to survey and consider all the current tech options available to us, and in the end the choice was obvious to ALL of us, and the decision was unanimous!
When the ORA project was launched in May we made it clear that our first task was community building, and we would attempt at every stage to create a fully decentralized, robust, & leaderless organizational structure to best match the goals and ideals of the crypto currency pioneers like Satoshi Nakamoto and BCNext.
ORA is a ‘Starfish’, and over the last six months we have learnt a lot from NXT, which bay any measure is THE most decentralized and robust of all current crypto currency communities to date. It seems fitting therefore, that ORA will become one of the first MS currencies using the NXT monetary system - the little ORA starfish riding on top of the bigger NXT starfish.
Organisational structure is critical to long-term success, and NXT is decentralised, leaderless and open to everyone and anyone, just as ORA is!
When CFB first suggested this option in June the only real reservation was that ORA would be dependent on the NXT platform for its very existence. Six months on, as NXT celebrates its first birthday we believe the connection with NXT is a major advantage for ORA. The NXT ecosystem is resilient, vibrant, and grows stronger every day, and the development output over the last 12 months has been truly staggering. NXT is obviously here to stay!
We believe the NXT platform offers ORA long term network stability, just as TCP/IP offers stability for higher order protocols like HTTP, FTP, SMTP, and this stability will allow us to focus our resources and attention on the more ‘retail’ level concerns, like user experience, leaving the ‘backstage’ grunt work of network security and stability for NXT.
With ORA as an MS currency we are confident that the NXT network is established and robust, and we can safely leave the tasks of network security to the NXT platform, and that lets ORA focus on ‘higher order’ tasks, like usability, marketing, real world uses, and community building.
The synergies possible with NXT made this an easy and obvious choice!
NXT really is like TCP/IP for crypto now, and the ORA mind-set has always been about finding success through working co-operatively with other projects, so re-inventing the network security 'wheel' ourselves seems like a waste of resources.
After observing NXT closely over the last 12 months we know its future is very bright, and this choice does in some way go towards fulfilling some of BCNext’s ultimate goals for NXT.
As always, we welcome any feedback our stakeholders might have, and we take this opportunity to invite all people to join us, particularly those with dev skills who are interested in developing the ORA applications that will run on NXT. Remember, ORA has considerable community funds, and after six months we have established ourselves as an honest and credible group of people interested in advancing the crypto currency movement. If you are looking for a crypto project to get involved with then please consider helping ORA!
Friends and supporters of ORA, I am very pleased to announce that ORA will be a Monetary System (MS) currency running on top of the NXT platform.
As you will no doubt be aware, the founding members of ORA have taken quite a while to survey and consider all the current tech options available to us, and in the end the choice was obvious to ALL of us, and the decision was unanimous!
When the ORA project was launched in May we made it clear that our first task was community building, and we would attempt at every stage to create a fully decentralized, robust, & leaderless organizational structure to best match the goals and ideals of the crypto currency pioneers like Satoshi Nakamoto and BCNext.
ORA is a ‘Starfish’, and over the last six months we have learnt a lot from NXT, which bay any measure is THE most decentralized and robust of all current crypto currency communities to date. It seems fitting therefore, that ORA will become one of the first MS currencies using the NXT monetary system - the little ORA starfish riding on top of the bigger NXT starfish.
Organisational structure is critical to long-term success, and NXT is decentralised, leaderless and open to everyone and anyone, just as ORA is!
When CFB first suggested this option in June the only real reservation was that ORA would be dependent on the NXT platform for its very existence. Six months on, as NXT celebrates its first birthday we believe the connection with NXT is a major advantage for ORA. The NXT ecosystem is resilient, vibrant, and grows stronger every day, and the development output over the last 12 months has been truly staggering. NXT is obviously here to stay!
We believe the NXT platform offers ORA long term network stability, just as TCP/IP offers stability for higher order protocols like HTTP, FTP, SMTP, and this stability will allow us to focus our resources and attention on the more ‘retail’ level concerns, like user experience, leaving the ‘backstage’ grunt work of network security and stability for NXT.
With ORA as an MS currency we are confident that the NXT network is established and robust, and we can safely leave the tasks of network security to the NXT platform, and that lets ORA focus on ‘higher order’ tasks, like usability, marketing, real world uses, and community building.
The synergies possible with NXT made this an easy and obvious choice!
NXT really is like TCP/IP for crypto now, and the ORA mind-set has always been about finding success through working co-operatively with other projects, so re-inventing the network security 'wheel' ourselves seems like a waste of resources.
After observing NXT closely over the last 12 months we know its future is very bright, and this choice does in some way go towards fulfilling some of BCNext’s ultimate goals for NXT.
As always, we welcome any feedback our stakeholders might have, and we take this opportunity to invite all people to join us, particularly those with dev skills who are interested in developing the ORA applications that will run on NXT. Remember, ORA has considerable community funds, and after six months we have established ourselves as an honest and credible group of people interested in advancing the crypto currency movement. If you are looking for a crypto project to get involved with then please consider helping ORA!
happy birthday NXT !
you made good this year and you will make better the next.
you made good this year and you will make better the next.
http://bitcoinmagazine.com/18567/multigateway-the-first-decentralized-crypto-currency-exchange/
Very positive piece from Bitcoin Mag......
Very positive piece from Bitcoin Mag......
Outstanding!
http://bitcoinmagazine.com/18567/multigateway-the-first-decentralized-crypto-currency-exchange/
Very positive piece from Bitcoin Mag......
Very positive piece from Bitcoin Mag......
There should be some sort of social organization where people who are substantial holders either publically lease their stake out to a group of known forgers(similar to DPoS) or publically state that they won't lease their stake out and forge themselves.
Why do you think that would be necessary? Substantial stakehodlers have a good reason to protect the network: securing the future of their stakes. 
Have people considered nominating a group of trusted people in the community that people can lease their forging power to?
If there was an open market for leasing(is there?) I think that would be a bad thing in general. As it would allow an attacker to gain more forging power than they would be entitled to by actually having to buy up all those coins(which is a big part of the security behind PoS). Just like now in PoW anyone who knows how and has a few BTC can attack any number of blockchains that aren't strong just by renting some hash for short period. In this regard PoS is much more superior, but only if an attacker can't similarly acquire forging power as people can now rent hashing power.
It is an open market and will stay that way. If the implementation was limited in Nxt core someone would code it as an addon. Having a "trusted group" as the only party people can lease their forging power to would break the principle of decentralized trust free network.If there was an open market for leasing(is there?) I think that would be a bad thing in general. As it would allow an attacker to gain more forging power than they would be entitled to by actually having to buy up all those coins(which is a big part of the security behind PoS). Just like now in PoW anyone who knows how and has a few BTC can attack any number of blockchains that aren't strong just by renting some hash for short period. In this regard PoS is much more superior, but only if an attacker can't similarly acquire forging power as people can now rent hashing power.
EDIT:
But IMO there's no point to forging pools in the first place, or in fact they are very bad already. Leasing your stake is easier than forging by yourself, which leads to lower number of forgers and a weaker network. You actually lower the network's security by leasing out your stake, and get paid for doing so.
There should be some sort of social organization where people who are substantial holders either publically lease their stake out to a group of known forgers(similar to DPoS) or publically state that they won't lease their stake out and forge themselves.
You're right that an open market is going to come about anyway, so having some social solutions that can help mitigate the risks might be a good idea(if there aren't already that is, I don't know).
happy bday NXT! I remember how sceptic i was when you were released. i am pretty impressed how far you have come 
Happy birthday! 
Happy birthday Nxt !
Anyway guys, Happy birthday Nxt.
One year ago today, the NXT Genesis block was created. It's been an interesting year, putting it mildly.
So, as part of the celebrations, heres a fun NXT first birthday project:
http://www.theregister.co.uk/2014/11/20/lohan_sponsor_nxt/
http://www.theregister.co.uk/Wrap/lohan/
https://nxtforum.org/nxt-promotion/nxt-in-space!/
https://www.cryptocoinsnews.com/nxt-first-coin-space/
No more 'NXT 2 da Moon!', but 'NXT to the upper stratosphere!'
Anyway guys, Happy birthday Nxt.
Have people considered nominating a group of trusted people in the community that people can lease their forging power to?
If there was an open market for leasing(is there?) I think that would be a bad thing in general. As it would allow an attacker to gain more forging power than they would be entitled to by actually having to buy up all those coins(which is a big part of the security behind PoS). Just like now in PoW anyone who knows how and has a few BTC can attack any number of blockchains that aren't strong just by renting some hash for short period. In this regard PoS is much more superior, but only if an attacker can't similarly acquire forging power as people can now rent hashing power.
It is an open market and will stay that way. If the implementation was limited in Nxt core someone would code it as an addon. Having a "trusted group" as the only party people can lease their forging power to would break the principle of decentralized trust free network.If there was an open market for leasing(is there?) I think that would be a bad thing in general. As it would allow an attacker to gain more forging power than they would be entitled to by actually having to buy up all those coins(which is a big part of the security behind PoS). Just like now in PoW anyone who knows how and has a few BTC can attack any number of blockchains that aren't strong just by renting some hash for short period. In this regard PoS is much more superior, but only if an attacker can't similarly acquire forging power as people can now rent hashing power.
EDIT:
But IMO there's no point to forging pools in the first place, or in fact they are very bad already. Leasing your stake is easier than forging by yourself, which leads to lower number of forgers and a weaker network. You actually lower the network's security by leasing out your stake, and get paid for doing so.
DPOS is Nxt+leased forging with a different forging algo. So says ByteMaster, core dev of Bitshares...
Have people considered nominating a group of trusted people in the community that people can lease their forging power to?
If there was an open market for leasing(is there?) I think that would be a bad thing in general. As it would allow an attacker to gain more forging power than they would be entitled to by actually having to buy up all those coins(which is a big part of the security behind PoS). Just like now in PoW anyone who knows how and has a few BTC can attack any number of blockchains that aren't strong just by renting some hash for short period. In this regard PoS is much more superior, but only if an attacker can't similarly acquire forging power as people can now rent hashing power.
DPOS is Nxt+leased forging with a different forging algo. So says ByteMaster, core dev of Bitshares...
Cool
DPOS is Nxt+leased forging with a different forging algo. So says ByteMaster, core dev of Bitshares...
Is nxt better than bitshares?
Try it and decide for yourself, why ask for biased opinions in this thread?
Is nxt better than bitshares? How will it compete with dpos and pay to develop model via variable delegate pay rates?
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