Topic: | Nxt | Blockchain Platform | Proof of Stake | Official - page 497. (Read 941427 times)

Im not a NXT pro, but AFAIS you would have to run a node for each account to forge? So you would have to set up several computers I suppose...

Get rewarded by letting a node run in general. Not according to how much nxt someone possesses. Maybe also cut forging power at an upper limit.

Sth. like this:

Probability of forgin a block = 1 / (2*(number of all nodes running)) + (0..current_NXT_balance..NXT_MAX) / (2 * (number of all NXT used for forging))

NXT_MAX would be threshold value. If we set it to lets say 100k then the ammount of NXT would contribute to 50% of the forging probability (in this example), also letting a node run in general would contribute to another 50% of the forging probability.

This would be in harmony with the thought to secure the network, because you could also forge with 0NXT in the account.

And if they don't bother to do this, then the system will be not secure, anyone can game it with almost nothing.
It's not only about the so-called "fair", but also about the security.

Yeah, AFAIK,  it was discussed before and few several times.

The points I briefly remember to come out against your "proposal" were like:

1) Upper limit forging power? No problem, I (who own 50M nxt account) redistribute it among 100 accounts with 500k nxt each. Problem solved  
2) Forging power is NOT proportional to amount of NXT? OK! I will "create" millions and millions (or thousands, if my stake is not so big) accounts with 1NXT each, i will be rich in some weeks!  


Hope I explained it clearly. But, I suppose, devs will provide a better and more technical point

A leader of the altcoin market, a lot of followers are waiting for the source code of Asset Exchange.

Here we go again.

How would your fairer forging system work?


Then the large stakeholder splits his account and still forges most of the fees.

I want to use this quote to address an issue about forging power to the NXT community:

Besides the discussion of the 73 stakeholders, I come to the conclution that the accounts forging power being proportional to the ammount of NXT one possesses is fair in general (what concerns the forging system per se). BUT there is one big disadvantage that can also be seen in parallel to the fiat money system:

Large fiat holders get interest and compounded interest therefore always get richer whereas "average Joe" pays the interest for big "fiat-stakeholders". This inequality leads to the growing gap between rich and poor hard-working. The system works for large fiat-holders, in other words, the hard-working people indirectly work for large holders by paying loan-tax, VAT, credits,...

Now NXT forging system rewards those who posess the highest stakes. For people who have small ammounts, theres kind of an emotional threshold (if those kind of people let their client forge), to use NXT in general. I can imagine people quickly get frustrated seeing they dont get rewarded by the system when letting their nodes run.

Dont we see this all day? Arent we upset that people "up there" always get their pockets lined? Should a system for common people (as you are preaching nxt should be accepted by EVERYONE) ensure inequality? I SAY NO!

What about fair distribution of forged NXT? What about cutting upper limit of forging power at couple of thousand NXT? Has this topic been discussed before?

Thanks a lot!!

its really getting excited with the asset exchange coming up!

You have to edit the file nxt-default.properties

# Known bad peers to be blacklisted
nxt.knownBlacklistedPeers=

Here you have to fill in the IP's of the nodes that you want to blacklist.

I never blacklisted a node so I hope this is the right way to do it  

How do I blacklist the peers in the new client (Wesley's)?

I think your client won't accept the blocks generated by nodes that are not on 1.0.0?

You could blacklist the peers that are not on the curent version

How do I know if I am on the main chain? About 11 out of 20 nodes in my Nxt Wallet (Wesley's client) aren't on 1.0.0.

i am a bit fearful that a lot of nodes didn't upgrade and we ended up with multiple forks.

Yes you can make transactions if you are on the main chain (if you are on 1.0.0).

Here's a list of the nodes, at the bottom: http://www.peerexplorer.com/

Still a lot of nodes who didn't upgrade. Can I make transactions? Where can I get a list of all the nodes?

Agreed.

Couple of things, The main page nxt.org (nxtcommunity.org) makes it really difficult to find the forums and you've taken a lot of focus off the asset exchange countdown.

Only 9 more blocks until 130K!