Topic: NXT :: descendant of Bitcoin - Updated Information - page 668. (Read 2761642 times)

I personally feel that the stakeholders should be more supporting to the whole community and do more giveaways to people contributing to discussions and people working to build the infrastructure and technology that will make NXT successful in the long run.

+10

Androklis Polymenis (me) donates a million digital NXT coins to BPF! $43,000. Press release [PDF]: http://goo.gl/t8tWY8

https://twitter.com/Lets_Upgrade/status/438525224368107520

Time to sell all your Nxts! I am ready to buy them!

In your test case with 5 accounts of 10 nxt und 1 account of 50 nxt, the 50 nxt account should forge 61.5% of all blocks and the other account together 38.5%.
But your code let's the big account forge about 83% and thus he creates longer streaks than he really would.

leasing forging power of a account to another account to create pools

1.000.000.000 Nxt Coin
100.000 Nxt Coin per pool

John account  90.000 Nxt 0 Node participate in forging
Mary account  9.900 Nxt 0 Node participate in forging
Bob account  100 Nxt 0 Node participate in forging


Total pool 100.000 Nxt 1 Node participate in forging
Total 1 Node participate in forging

Chance to forge 0,0001
rate forging 1440 blocs per day
52,6 Blocs per year
aprox 1 Bloc per week

1.000.000.000 Nxt Coin
100.000 Nxt Coin per pool
10.000 Nodes participate in forging




Sharing fees

1.000.000.000 Nxt Coin
100.000 Nxt Coin per pool

John account  90.000 Nxt 1 Node participate in forging
Mary account  9.900 Nxt 1 Node participate in forging
Bob account  100 Nxt 1 Node participate in forging

Total pool 100.000 Nxt
Total 3 Node participate in forging

Chance to forge 0,0001
rate forging 1440 blocs per day
52,6 Blocs per year
aprox 1 Bloc per week

1.000.000.000 Nxt Coin
100.000 Nxt Coin per pool
30.000 Nodes participate in forging. if there are only three accounts linked per pool

I am wrong?

I think that how you choose the winner is irrelevant - it is only the probabilities that matter here.

Dafuq did you just say (once again)? o_0

That's not how the nxt forging algorithm works.
You are looking for the maximum of random number * balance to get the winner where you really should calculate the minimum of random number / balance and let the minimum win.

- Big stakeholders have an interest in a working Nxt and a high NXT value (or not!)
- This can be reached by having a Nxt where no trust is needed (this is the whole point of this crypto)
- So, biiiiiiig stakeholders should not exist for their self-interest
- But with the ability to split the stake into smaller accounts, big stakeholders can hide themselves
- We are doomed

I'm confused

Done

Done!

I already sent out swarm to 30 people on this.
Perhaps we need a bigger swarm group

As I said there is awesome one.

automated multisig gateway status

Had to restructure things to be able to have all three of the gateway servers be able to have a chance at sync'ing. I now have three servers, all monitoring the blockchain for AM's to update their state. The problem yesterday was that a multisig transaction needs to be in raw format and it gets much bigger than 1K, which is the limit of AM size. So, I made a mini-point to point network between all three gateway servers. They now have the ability to synchronize data structures from the other servers, so I can send the rawtransactions around for verification (each server should independently generate the same rawtransaction) and signing. I can also send any other important data, such as total balances and even all the user deposits/withdraws.

Now that I can get high speed data synchronization across the servers, a lot of possibilities open up. Since each server is independently calculating things, as long as all are in agreement, odds are really good that the data is correct. Especially since the data I am relying on is coming from either the dogecoind or NXT blockchain. For any withdrawal, I wait until all three servers come to a consensus on what the transaction should be. Doing the server to server communication directly avoids NXT transaction costs and it goes MUCH faster.

What is left now is coming up with a deterministic way of selecting the unspent outputs to add up to the requested amount. The issue is that the pool of available unspents can change due to deposits coming into one of the gateways. I guess I could just combine the oldest to newest unspents, that should work. Then I need to come up with synchronization points to proceed along the steps of multisig signing.

So, no external progress today, but the internals are restructured to be able to allow for peer to peer verification, so the rest should become much easier. All this work on the peer to peer verification has given me a lot of ideas for what sorts of things can be verified and published via AM. It will form a good basis for NXTcoins to build on. I see the automated gateway as being a gateway for a lot more than just other cryptos.

It will be possible to control the "issuing" of NXT assets linked to externally verifiable events. For example, Dominoes Pizza could issue Pizza assets, people could trade it, but also it could be redeemed automatically. As long as a delivery address is associated with the NXT account, just transfer the asset back to Dominoes (different NXT addresses for different types of pizzas) and a pizza arrives within 30 minutes. Delivery status could be monitored if it was available online. Using this mechanism, global companies can issue coupons and the distribution and redemption is all electronic, except for the actual delivery.

We can have externally available data peer verified and published via AM. Sounds simple enough, but the value is very big, especially if it is a market price data feed. Accurate historical marketprices would be in the NXT blockchain. Not only could people get access to this data from a decentralized network, once we have AT, people could make bets. I would imagine it wouldnt be too hard to implement a whole range of financial derivatives, sports betting, anything that can be done by combining real world data with turing complete script.

Now, here comes a totally unexpected possibility. What if the automated gateway was able to handle NXTcash? All this gateway coding made me realize it just might be able to be done, which means we could get NXTcash much, much sooner as we dont have to port it to Java.

User mints NXTcash and sends public part + corresponding NXT to gateway, which issues NXTcash Asset to the gateway account. At this point nobody can trade the NXTcash asset.

User now has all that is needed to redeem the NXTcash in the private files from the minting process. For privacy, he copies it to a flash drive and goes to a public data center. From there he starts a NXTcash spend process, which only requires the private data on the flash drive and designates a brand new NXT acct to receive the NXTcash asset. Now the NXTcash asset can trade and the gateway would always have a minimum bid of 1:1 so the original amount spent is available (minus whatever fees)

This is certainly not as good as having it built into the protocol as it relies on the gateways being operational and also that the gateways will always have a 1:1 repurchase bid in Asset Exchange. Also, the NXTcash trading on AE is not anonymous. This actually might really help avoid any stigma attached to using this tech. Only if you went out of your way to redeem the NXTcash on a different computer will you have true anonymity.

James

P.S. I will be offline all day, but I will try to get a DOGE test released before the weekend.

Here is the source code to my simulator:

leasing forging power of a account to another account to create pools

1.000.000.000 Nxt Coin
100.000 Nxt Coin per pool

John account  90.000 Nxt 0 Node forging
Mary account  9.900 Nxt 0 Node forging
Bob account  100 Nxt 0 Node forging


Total pool 100.000 Nxt 1 Node forging
Total Nodes forging 1

Chance to forge 0,0001
rate forging 1440 blocs per day
52,6 Blocs per year
aprox 1 Bloc per week

1.000.000.000 Nxt Coin
100.000 Nxt Coin per pool
10.000 Nodes forging




Sharing fees

1.000.000.000 Nxt Coin
100.000 Nxt Coin per pool

John account  90.000 Nxt 1 Node Forging
Mary account  9.900 Nxt 1 Node Forging
Bob account  100 Nxt 1 Node Forging

Total pool 100.000 Nxt
Total Nodes forging 3

Chance to forge 0,0001
rate forging 1440 blocs per day
52,6 Blocs per year
aprox 1 Bloc per week

1.000.000.000 Nxt Coin
100.000 Nxt Coin per pool
30.000 Nodes forging. if there are only three accounts linked to the pool

I hope this is the fatal flaw!  

People have been wondering about some of the figures that my simulator has come up with so far - but there is actually a much worse picture here than I have so far shown as my simulator has been using "log(balance)" rather than just "balance" as the "stake multiplier".

So get ready for something that approaches more closely how Nxt actually works as it does not use log(balance):

blocks = 1440
a: 10
b: 10
c: 10
d: 10
e: 10
f: 50
wins( a ) = 48
wins( b ) = 50
wins( c ) = 50
wins( d ) = 41
wins( e ) = 52
wins( f ) = 1199
best_streak( a ) = 2
best_streak( b ) = 2
best_streak( c ) = 2
best_streak( d ) = 2
best_streak( e ) = 2
best_streak( f ) = 49
best_combined_streak = 3

In particular pay attention to the figure for "f" in regards to both "wins" and its "best streak".