Topic: VNL Incentive/Collateral Rewards for Superpeers. How To!!! (Read 1167 times)

and no you need a dedicated ip for each superpeer

The collateral required for a superpeer is 10000 VNL.   

Sorry guys but how much vanillacoins are needed actually for run a supernode? and can be various supernodes be run in the same machine?

thanks in advance

Yes! I am a supernode now!
Just in case you wanted to know which fool bought for 9500
needed to send 10000 in one tx to myself

Enforcement came into play yesterday with the release of 0.3.7

With taxes on miners one or most of the secret mining pools disappeared.

Those that are still mining are making way more coins again.

Will be nice when enforcement takes effect, taxing those secret mining pools will feel satsfying.

Also herd is a link for how to set up more than 1 node

https://talk.vanillacoin.net/topic/212/running-some-extra-superpeer-out-of-a-vm-and-cheap-vps-vpn

let the game changer begins 

Much appreciated.

Thank you for your support.

thanks

Please, correct: Corateral enforcement begins after block 220,000. (no 2200000 - too many zeros)

It has been asked on IRC a few times that someone create a little walkthrough for How to create a node that will collect rewards
and although I am not the most qualified to do this, I decided to give it a try.

most of this information can be found in http://vanillacoin.net/wiki/Technologies/Node%20Incentives.md
but I will try to make it easier for those who dont want to skip between threads and Forums to understand.

First lets begin by describing reward incentive/ how they work, where they come from, and how to get them.

Reward incentives are basically a taxation on Miners of PoW blocks in VNL that are distributed to VNL users who maintain an open supernode.  This begins at a 1% tax(right now) and scales using this algorithm https://gist.github.com/john-connor/967ba7f7e9dd0ec1f7a9
as you can see the scaling happens very quickly at first, but slows down over time.
using this algorithm you can decipher how much reward can be mined in this google spreadsheet
https://docs.google.com/spreadsheets/d/1ZxZlQC7nE_KEAu4P8-14MWTuLZPESSTPrmUh4kKzGVM/edit#gid=0

you can basically consider this a new form of mining  Peer Mining  it is a simple decentralized method of distributing coins to persons within the project who are helping secure the network by running a full active Node.

Second lets describe collateral.

collateral is used to stop persons from centralizing the system by owning to many Nodes  and is discribed as follows:   9999 VNL must be deposited to your Nodes ie: wallets default address in one transaction.  this collateral must remain in your wallet to take part in the incentives, but can be withdrawn whenever you feel is necessary just like any other normal withdrawal.

now the bread and butter of How to set up your supernode.

1st)  download the Newest Wallet of VNL

2nd)  make sure you have openned your port found in either your vanillacoin/config.dat file or use the rpc command "Getinfo" under console and find the statement port "xxxxx" where the xxxxx is the port to open.

youtube has many nice guides and howtos about how this is done  just type in port forward and your router type and follow example https://www.youtube.com/watch?v=Kp-R-eHiQco


3rd) after your port has been forwarded close and resatr your wallet.   now enter getincentiveinfo in your console
you should see something like

{
    "walletaddress":xxxxxxxxxxxxxxxxxxxxxx,
    "collateralrequired": 0,
    "collateralbalance": 0,
    "networkstatus": ok,
    "votecandidate": true,
    "votescore": -3359
}

this has 0 collateral, because collateral enforcement doesnt begin until block 220000

if it says network status ok
and it says votecandidate true

CONGRATULATIONS!!!  you are now PEER MINING

4th) it takes time to become an active full superpeer dont expect rewards right away,  soon you will see rewards start showing up in your History>


Good Luck and have FUN!!