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Re: NXT :: descendant of Bitcoin - Updated Information
Today at 04:59:32 PM
Reply with quote #35666
Quote from: giantcrab on Today at 04:49:35 PM
below are from the latest Bitshares X whitepaper:
A recent entrant to the Proof of Stake scene is Nxt which claims to be 100% proof of stake and does so with a process they call transparent mining.
With transparent mining the network deterministically selects who gets to produce the next block. If this person is online at the time then they get an opportunity to earn transaction fees. Otherwise a block is produced by the next in line.
The problem with existing proof of stake systems including Peercoin and Nxt is that they dependupon a subset of users that actually choose to dedicate computational power to mining in aneffort to earn income from transaction fees. This creates two classes of users and significantly reduces the percentage of the money supply used to secure the network. Additionally both of these systems suffer from the potential that a large stake holder could perform a denial of service attack by refusing to include some or all transactions.
how do you think the comments about NXT transparent forging?
Seems they r right, we should implemented forging power leasing to get rid of such the issue.
That would be fantastic!
NXT transparent forging
Will Leave without arguments people maintaining that in nxt "the rich get richer and the poor get poorer"
Will Leave without arguments people maintaining that POS is not so sure than POW if eventually the number of nodes forging is concentrated in a few pools.
a) funds must stay in the Bob account own
b ) forging power should remain in the node where this self Bob.
Instead the commission of forging of the account Bob should go to the "transparent" pool and the pool manager split the commission forging in proportion to the amount of funds from the accounts that were at that time in the pool .
I do not know if this is technically very difficult to implement but it is clear that if not resolved little by little will create pools and concentrating on a few network nodes and so understand a network more vulnerable to attack .
I think the pool is very good solution for the small investor gives "fairness to the system not equal " but forging power should remain in the node where this account with funds for the sake of the security of the network.
