Can you send someone 0.001 NXTCOINS?
No. But it will be possible in a couple of months.
Biggest scamcoin of all time.
Topic: Transparent mining, or What makes Nxt a 2nd generation currency - page 8. (Read 35847 times)
January 13, 2014, 03:43:06 PM
No. But it will be possible in a couple of months.
Biggest scamcoin of all time.
January 13, 2014, 03:34:25 PM
Can you send someone 0.001 NXTCOINS?
No. But it will be possible in a couple of months.
January 13, 2014, 03:30:23 PM
I think the 51% attack is possible in PoS with or without "transparent mining", the advantage is that in PoS it is less likely than PoW...
Let's wait for the full disclosure of Transparent Mining.
I will wait, but the forks are an important problem in transparent mining...
January 13, 2014, 03:29:56 PM
NXT is not fungible. The most basic feature required for any currency.
Bitcoin is fungible to millionth.
Bitcoin is fungible to millionth.
Can you send someone 0.001 NXTCOINS?
January 13, 2014, 03:27:48 PM
I think the 51% attack is possible in PoS with or without "transparent mining", the advantage is that in PoS it is less likely than PoW...
Let's wait for the full disclosure of Transparent Mining.
January 13, 2014, 03:26:41 PM
NXT is not fungible. The most basic feature required for any currency.
Bitcoin is fungible to millionth.
Bitcoin is fungible to millionth.
January 13, 2014, 03:25:12 PM
I think the 51% attack is possible in PoS with or without "transparent mining", the advantage is that in PoS it is less likely than PoW...
January 13, 2014, 03:24:17 PM
NXT is not fungible. The most basic feature required for any currency.
Bitcoin is fungible to millionth.
Bitcoin is fungible to millionth.
January 13, 2014, 03:20:57 PM
...You said: "this can be counteracted by some mechanisms of advanced consensus..." But I thing that in the moment that we talk about consensus, we have the 51% problem over the table again...
Yes, when will we hear more of this? It seems if it is not addressed then there is a risk? what is the state of things in this regard now?
Every node is supposed to stick to a branch where his balance is higher. Extended consensus will be described in other parts of the plan, we have to wait.
January 13, 2014, 03:17:05 PM
...You said: "this can be counteracted by some mechanisms of advanced consensus..." But I thing that in the moment that we talk about consensus, we have the 51% problem over the table again...
Yes, when will we hear more of this? It seems if it is not addressed then there is a risk? what is the state of things in this regard now?
January 13, 2014, 03:15:42 PM
There is an issue in the "transparent mining" that I can not see clearly: if someone hides an alternative chain, how does it identify what is the good branch and what is bad. I can not find the formula to do possible this identification...
The only thing I can think is that the two chains evolve by its side, both with their private 100% of the currency involved in the generation of each block, and it would be possible setting one fork or more of the network... Let we can say that the network is protected of attacks, but not for forks. I dont know what is worst...
Maybe I have not the data which is measured to determine the valid chain, I dont know if it is the greatest amount of currency, coin-age, or what...
You said: "this can be counteracted by some mechanisms of advanced consensus..." But I thing that in the moment that we talk about consensus, we have the 51% problem over the table again...
The only thing I can think is that the two chains evolve by its side, both with their private 100% of the currency involved in the generation of each block, and it would be possible setting one fork or more of the network... Let we can say that the network is protected of attacks, but not for forks. I dont know what is worst...
Maybe I have not the data which is measured to determine the valid chain, I dont know if it is the greatest amount of currency, coin-age, or what...
You said: "this can be counteracted by some mechanisms of advanced consensus..." But I thing that in the moment that we talk about consensus, we have the 51% problem over the table again...
January 12, 2014, 06:57:17 PM
understand some little. 
January 09, 2014, 04:35:12 AM
thx
January 09, 2014, 04:24:03 AM
If they miss their chance to mine a block they'll be penalized. Stakeholders r supposed to protect Nxt, not just sit and wait for 1 NXT = 1,000,000 USD day.
NB: The only penalty is inability to mine blocks within some period of time. They still can decide not to bother with mining, but their "hashing" power will be distributed to those who do protect the network.
NB: The only penalty is inability to mine blocks within some period of time. They still can decide not to bother with mining, but their "hashing" power will be distributed to those who do protect the network.
When will this penalty be implemented?
No ETA yet.
January 09, 2014, 04:11:41 AM
If they miss their chance to mine a block they'll be penalized. Stakeholders r supposed to protect Nxt, not just sit and wait for 1 NXT = 1,000,000 USD day.
NB: The only penalty is inability to mine blocks within some period of time. They still can decide not to bother with mining, but their "hashing" power will be distributed to those who do protect the network.
NB: The only penalty is inability to mine blocks within some period of time. They still can decide not to bother with mining, but their "hashing" power will be distributed to those who do protect the network.
When will this penalty be implemented?
January 02, 2014, 11:59:45 AM
TF has been enabled about one day ago, but it seems that no real different from the older version from the client, of course I think the core in the client may be TF functionable. So for the average joe, how can we get some hint on TF which is working?
This is partial migration.
January 02, 2014, 11:10:50 AM
TF has been enabled about one day ago, but it seems that no real different from the older version from the client, of course I think the core in the client may be TF functionable. So for the average joe, how can we get some hint on TF which is working?
January 02, 2014, 10:15:47 AM
One more quick question though, as I understand it, it is possible to predict which machine(s) will be be forging the next block. Once you know, you can DDOS them, which seems like it could cause big problems. How much of a risk is that?
CloudFlare solves this problem. U can forge using 5y-old notebook, all the traffic will be handled by 3rd party if u can't do it by urself.
January 02, 2014, 10:09:11 AM
Thanks Come-from-Beyond.. yeah, reading as fast as I can about this stuff, just got into the game a couple weeks ago. probably time to focus some energy on understanding how the actual low-level hashing works. I'm definitely going to jump into the code when released and see if I can figure it out.
One more quick question though, as I understand it, it is possible to predict which machine(s) will be be forging the next block. Once you know, you can DDOS them, which seems like it could cause big problems. How much of a risk is that?
One more quick question though, as I understand it, it is possible to predict which machine(s) will be be forging the next block. Once you know, you can DDOS them, which seems like it could cause big problems. How much of a risk is that?
January 02, 2014, 02:10:44 AM
Also this post is talking about instant transaction mode: https://bitcointalksearch.org/topic/nxt-big-giveaway-347927
Could you tell me how that works? Thanks!
Could you tell me how that works? Thanks!
https://bitcointalksearch.org/topic/nxt-instant-transactions-with-guaranteed-confirmation-316104
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