Topic: NXT :: descendant of Bitcoin - Updated Information - page 682. (Read 2761645 times)

We need to focus. I need to focus. Thoughts.

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BCNext's idea was, speaking of forging incentives, to get rid of transaction fees. The idea is that companies, who use Nxt (as a platform, as their payment provider, as what ever), earn money with their services, and thereby have an interest in running nxt nodes to provide stability for it.

But BCNext doesn't live in fairy land (well, sometimes he does, i think) and knows that thousands of companies will not get built on top of nxt or use nxt right now but in the future. First, we need to provide a stable and secure network to (potential new) businesses before they use it. That's why the first plan is building Nxt as a currency to get a wide adoption. I don't think we are there yet. Only because we know the 2nd plan doesn't mean we have to jump on it. Or should we? And, of course, trust no one, we don't need to follow his ideas, yada yada yada. Well, he is a smart guy. Let's think about it:

We need fees right now to have an incentive for forging (and maybe a better fees structure, like the hallmark idea) and we don't know for how long. But we should also get rid of fees to make it possible for companies to use Nxt. This chicken and egg problem can only be solved with a gradually decrease of fees and give Nxt a kickstart with paid infrastructure for the next months (years, we don't know). Or is there another solution?

If this is correct, we should talk about how we will come to a consensus about decreasing fees in the future. And our infrastructure committee (not in place yet) should go to work on nerdy things for stability, 1000TPS, .. as soon as possible.

Also, how do we prevent spamming when there are no fees? Maybe we should have different fees on different parallel blockchains.

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Penalties. At least it was part of BCNext's idea that we should penalize accounts who don't forge. I don't see a problem here as long as we talk about proper penalty. Not allowed to forge for the next 1440 blocks seems fair.

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I want to know where I'm wrong and I want to hear CfB on both topics.

NXT Newsletter #3  

http://nxter.org/nxt-newsletter-3/

How the "weight of the blockchain" is defined? Do you just add the weights of all blocks? Or, say, last k blocks? Can it be a weighted sum?

Power forged for account and node maximum  100000 Nxt

Accounts with more than 100000 Nxt if they want to forge gradually will be divided into fractions Nxt 100000

accounts with less than 100000 Nxt will share their rights fees in pools. If bob account forge his fees will go into the pool.
Bob would receive a fraction fees as a function of the nxt he had.

The network in the worst case would reach 10 000 nodes

1000000000/100000 = 10000 Nodes

Translated into numbers

if a block has 256 transactions
and 1440 blocks are generated each day

a pool with 100000 nxt generated 52.6 blocks per year
if a Nxt equals 1 Dollar
Blocks 52.6 x 256 = 13,455 dollar per year


in the worst case nearly every week 256 dollar received a pool (grouping of accounts) with 100000 nxt

Bob would receive a fraction fees as a function of the nxt he had in the pool.

if for example the pool is formed by 256 equal  accounts each account will receive 1 dollar per week

Do not forget that you have also mantein your PC if you usually use for other things.

The 256 dollars are to maintain only your actives nodes per week

chances of forging only depends on the nxt you have

This solution at least provoke everyone who wants to forge receive fees every 2-3 days maximum one week.

This at least solves that small accounts are equally motivated to forge that big.

my thoughts are wrong?