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[ANN] NSC - NXT Security Coin *Pay for empty Blocks and ->Hallmarked Nodes<-!  
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Author Topic: [ANN] NSC - NXT Security Coin *Pay for empty Blocks and ->Hallmarked Nodes<-!  (Read 35081 times)

ebby

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[NSC]
NXT Security Coin

NSC is to help securing the network by adding more value to forging fees. NSC is distributed weekly to every Block Generator. Payout is 1 NSC for every forged block by an accout ID. Every account ID have a cap of x NSC per 1440 Blocks, Public Forging Pools don't have a cap! The future value of this first tradeable AE-Coin depends on the community, the more value the more forgers secure the network. The Asset Holder will only sell NSC to cover the Asset transfer fees. To all big stake holders, please help to give this Coin a value, thank you! The start value should be around 0.10 EUR. (3.51498017 NXT at the moment).

- The calculation will start with Block 135000! I will cover the fees for the first distribution of the NSC. This process is semi-automatic and will be fully automatic in the future.
- Every Block will be counted, also empty Blocks!
- The distribution will be calculated ones a week with a delay of 1440 blocks to make sure all block are valid.
- The weekly distribution depends on the available NXT on the Asset Holder's Account to pay the fees.
- Big forging accounts can game the cap by splitting up. No problem with this, because this is also securing his/her stake.
- NSC will not get bumped by the Asset Holder like every other asset out there.
- Community, especially BIG stake holders, please help to give NSC a value. It will help NXT and its Network/System.

NSC Distribution to Hallmark-Nodes!!!(Experimentell)
Today I start with testing to distribute also to Hallmarked Nodes! This is experimentell and can also end with no distribution at all!
- My node must have seen your hallmarked node! Please make sure you have my node in your config "nxt.wellKnownPeers=cubie-solar.mjke.de", this will help that my node know about yours.
- I check the Hallmark of known Peers more times a week. Please make sure your node have a DNS!
- Your Node must be uptodate!
- The Hallmark give me the Account-ID for the distribution.
- I will decide how much NSC per Hallmarked node will be distributed.
- The distribution is weely and will be done with general NSC distribution.
- The NSC for this distribution is from the capped NSC from the block calculation.
- Keep your nodes up! The counting begins!
 

If you have questions, please ask!

Promoter
ebby (aka ebereon on Bitcointalk registred 2011)
What is it? 
A Coin based on AE to help secure the NXT Network
What percentage of the company is being sold? 
The distribution will be ~100%, based on the blockchain and time.
How many shares to be sold?
21,000,000 (Distribution for ~40 years (1440*365*40)
What price will they be sold at?
They will be freely distributed to forgers for every forged block in the NXT Blockchain. The start value should be 0.10 EUR (3.51498017 NXT at the moment). Asset Holder will only sell NSC to cover the asset transfer fees! The future value will be decided by the community! The Asset Holder will not bump the value like any other asset out there!
Nxtforum discussion
This thread!
Nxt account used to issue assets
NXT-KALP-T3EE-GN7Q-4N8MS (3192160192846930517)
Asset ID
6775372232354238105
Ticker symbol
NSC


Public forging pools:
Please PM me your Account ID (Reed Solomon) and generate a Token with Website: "NSC". Make sure to count NSC for every Leasor! Thank you!

Verified and approved Pools without the cap:
NXT-K5KL-23DJ-3XLK-22222 - Thread: https://nxtforum.org/index.php?topic=1020.msg15459#msg15459
NXT-QTDC-DL8B-WHSE-FQ4Y3 - Thread: https://nxtforum.org/index.php?topic=1070.msg16374#msg16374


For accounts that would like to be Blacklisted (You don't like to recive this AE Coin/Asset), please PM me your Account ID (Reed Solomon) with a generated Token with Website: "NSC".


Current Distribution:
1. May 19, 2014: 1874 NSC transfered to 258 Accounts. Daily (1440 Blocks) cap per account was 10 NSC.
2. May 25, 2014: 2452 NSC transfered to 256 Accounts + 162 Lessors on 2 Pools. Daily (1440 Blocks) cap per account was 10 NSC.
3. June  1, 2014: 2920 NSC transfered to 237 Accounts + 169 Lessors on 2 Pools. Daily (1440 Blocks) cap per account was 10 NSC.
4. June  9, 2014: 3705.8 NSC transfered to 304 Accounts + 186 Lessors on 2 Pools and 64 Hallmarks. Daily (1440 Blocks) cap per account was 10 NSC.
5. June 24, 2014: 8475.44 NSC transfereed to 351 Accounts + 179 Lessors on 2 Pools and 101 Hallmarks Daily (1440 Blocks) cap per account was 10 NSC.

Logs

Distributed NSC until now: 19'427.24


Explanation about the distribution:
The distribution have started with block 135'000 and will be distributed weely. Last block of the weekly calculation is current block minus 1440 blocks.
Every block is counted with an integer up to 1440 blocks. While the NSC is calculated it will stop adding NSC to an account when the cap of n NSC is reached.

Example: Account xyz forged 100 blocks in the 1440-blocks-timeframe it will only count n NSC. After 1440 Blocks the counter is reset and NSC will be added again to this account for the next 1440 blocks and capped again if it reached n NSC. In the last distribution there were 3 daily calculations started and the max NSC to an account was capped at 10 NSC. So even the biggest forger got only 30 NSC.

The daily counter will start at 0 for every distribution, even if the last distribution had 4144 blocks calculated, which is 2 x 1440 + 1264 blocks counted. That means I don't remember the 176 we were short in the last round, for the next distribution. Only the last block is stored for the next distribution.


Why this Cap is added?
Because if We don't have this cap, the distribution would be the same as NXT. The big stake holders would have the most NSC! So to make the distribution of NSC really fair, I have added this cap to avoid big stake holders gets bigger.

Greets,
eb
« Last Edit: June 24, 2014, 09:12:55 pm by ebby »
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aguy

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Re: [ANN] NSC - NXT Security Coin
« Reply #1 on: May 19, 2014, 08:45:40 am »

Nxtforum discussion
https://nxtforum.org/index.php?topic=1511.msg24129#msg24129

The link seems to be wrong.  Was there a technical discussion about why there needs to be an incentive to secure the network by adding forgers?  Why is it necessary to create a secondary value other than NXT?  As I understood it, forging was being incentivized by temporarily punishing the larger stakeholders if they were not forging.
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ebby

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Re: [ANN] NSC - NXT Security Coin
« Reply #2 on: May 19, 2014, 09:54:01 am »

Nxtforum discussion
https://nxtforum.org/index.php?topic=1511.msg24129#msg24129

The link seems to be wrong. 
The Link is ok, but not needed. The discussion is this thread. I posted the Information also on the IPO Listing thread, thats why the Link is in there. ;-)

Was there a technical discussion about why there needs to be an incentive to secure the network by adding forgers?  Why is it necessary to create a secondary value other than NXT?  As I understood it, forging was being incentivized by temporarily punishing the larger stakeholders if they were not forging.
No technical discussion, only for nodecoin I think.

More forgers are good anytime. So I did this to give a value to empty blocks also. I think this will get more stake holder to forge, because of the additional value to every block.

Greets,
eb
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ebby

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Re: [ANN] NSC - NXT Security Coin
« Reply #3 on: May 19, 2014, 11:28:56 am »

First distribution is done!

1874 NSC transfered to 258 Accounts. Daily (1440 Blocks) cap per account was 10 NSC.

I have set up a Buy Order at 4 NXT/NSC to provide a first value to NSC. Feel free to sell! ;-)

Next distribution is next week.

Greets,
eb
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gaman

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Re: [ANN] NSC - NXT Security Coin
« Reply #4 on: May 19, 2014, 12:09:13 pm »

so, this is different from nodecoin?

wow, so forging can get nodecoin and nsc now!
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farl4bit

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Re: [ANN] NSC - NXT Security Coin
« Reply #5 on: May 19, 2014, 12:19:19 pm »

Very cool! So finally we have 'nodecoin'!  ;)
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ebby

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Re: [ANN] NSC - NXT Security Coin
« Reply #6 on: May 19, 2014, 12:31:05 pm »

so, this is different from nodecoin?

wow, so forging can get nodecoin and nsc now!

Yes it is different then nodecoin which is paying for running a node.

NSC is paying for every block in the blockchain, even if its empty!

Very cool! So finally we have 'nodecoin'!  ;)

Not really, but I wait also for nodecoin. Both will help to secure the network!

Greets,
eb
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farl4bit

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Re: [ANN] NSC - NXT Security Coin
« Reply #7 on: May 19, 2014, 12:45:47 pm »

Oh sorry, you're right. Nodecoin was about nodes... ::)
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ChuckOne

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Re: [ANN] NSC - NXT Security Coin
« Reply #8 on: May 19, 2014, 04:38:42 pm »

So, it is basically a blockcoin. ;)
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ebby

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Re: [ANN] NSC - NXT Security Coin
« Reply #9 on: May 19, 2014, 04:39:16 pm »

Details on the distribution happend today:

Code: [Select]
Cap at 10 NSC per Account per 1440 Blocks.
Calculated Blocks: 135000 - 139143 = 4144
Counted Blocks : 1874
Not counted Block because of the cap: 2270
Accounts forging in the timeframe: 258

Logfile -> https://www.wuala.com/ebereon/Shared/NXT/NSC/NSC_distribution_2014-05-19_10_53_00_2.log

Next week, the cap will be adjusted. Keep forging guys!

Pool Owners, please provide info to not get capped!

Greets,
eb
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qbd1313

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Re: [ANN] NSC - NXT Security Coin
« Reply #10 on: May 19, 2014, 04:49:17 pm »

really cool
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ChuckOne

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Re: [ANN] NSC - NXT Security Coin
« Reply #11 on: May 19, 2014, 08:31:37 pm »

Just to let you know.

Code: [Select]
[2014-05-19 10:59:11.946] DEBUG: Blacklisting 93.82.72.179 because of: nxt.NxtException$ValidationException: Invalid asset transfer asset or quantity: {"asset":"6775372232354238105","quantityQNT":200000000,"comment":"\"NXT Security Coin Distribution. 1 NSC per forged block. Max NSC per 1440 Blocks is 10.\""}
[2014-05-19 10:59:11.989] DEBUG: Blacklisting 14.203.71.51 because of: nxt.NxtException$ValidationException: Invalid asset transfer asset or quantity: {"asset":"6775372232354238105","quantityQNT":200000000,"comment":"\"NXT Security Coin Distribution. 1 NSC per forged block. Max NSC per 1440 Blocks is 10.\""}
[2014-05-19 10:59:12.054] DEBUG: Blacklisting 14.2.189.141 because of: nxt.NxtException$ValidationException: Invalid asset transfer asset or quantity: {"asset":"6775372232354238105","quantityQNT":200000000,"comment":"\"NXT Security Coin Distribution. 1 NSC per forged block. Max NSC per 1440 Blocks is 10.\""}
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ChuckOne

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Re: [ANN] NSC - NXT Security Coin
« Reply #12 on: May 19, 2014, 08:36:59 pm »

About pools aka hubs:

- the pool account id in my sig is a pool
- my personal account id is right underneath my pic
« Last Edit: May 19, 2014, 08:50:37 pm by ChuckOne »
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ebby

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Re: [ANN] NSC - NXT Security Coin
« Reply #13 on: May 19, 2014, 08:46:15 pm »

Just to let you know.

Code: [Select]
[2014-05-19 10:59:11.946] DEBUG: Blacklisting 93.82.72.179 because of: nxt.NxtException$ValidationException: Invalid asset transfer asset or quantity: {"asset":"6775372232354238105","quantityQNT":200000000,"comment":"\"NXT Security Coin Distribution. 1 NSC per forged block. Max NSC per 1440 Blocks is 10.\""}
[2014-05-19 10:59:11.989] DEBUG: Blacklisting 14.203.71.51 because of: nxt.NxtException$ValidationException: Invalid asset transfer asset or quantity: {"asset":"6775372232354238105","quantityQNT":200000000,"comment":"\"NXT Security Coin Distribution. 1 NSC per forged block. Max NSC per 1440 Blocks is 10.\""}
[2014-05-19 10:59:12.054] DEBUG: Blacklisting 14.2.189.141 because of: nxt.NxtException$ValidationException: Invalid asset transfer asset or quantity: {"asset":"6775372232354238105","quantityQNT":200000000,"comment":"\"NXT Security Coin Distribution. 1 NSC per forged block. Max NSC per 1440 Blocks is 10.\""}

Thanks ChuckOne, but all transaction got validated and it seems that these 3 nodes have some problem, likely to old or something. My node don't have these IP's.
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CryptKeeper

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Re: [ANN] NSC - NXT Security Coin
« Reply #14 on: May 19, 2014, 09:04:10 pm »

I've got 8 nsc, wow!
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forkedchain

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Re: [ANN] NSC - NXT Security Coin
« Reply #15 on: May 20, 2014, 07:03:46 pm »

my pool is NXT-K5KL-23DJ-3XLK-22222 and i will work on your asset here when i wrap up a few other changes i have going on nnow
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garp

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Re: [ANN] NSC - NXT Security Coin
« Reply #16 on: May 21, 2014, 06:48:52 am »

How does the cap work? Could you elaborate with anexample?
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Jimmy2011

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Re: [ANN] NSC - NXT Security Coin
« Reply #17 on: May 21, 2014, 01:34:38 pm »



Thank you ebby for your work on NSC.

JPool is NXT-QTDC-DL8B-WHSE-FQ4Y3

I will distribute it to the lessors, but right now I don't know the details how to calculate the distribution. I will have a study on it.
 
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msin

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Re: [ANN] NSC - NXT Security Coin
« Reply #18 on: May 21, 2014, 03:37:54 pm »

Received NSC yesterday, awesome stuff!
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ebby

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Re: [ANN] NSC - NXT Security Coin
« Reply #19 on: May 22, 2014, 06:06:58 pm »

Pools:
About pools aka hubs:

- the pool account id in my sig is a pool
- my personal account id is right underneath my pic
Sorry, for the moment I can't approve your pool because it is not public (didn't found a thread or webpage) and it have no lessors.


my pool is NXT-K5KL-23DJ-3XLK-22222 and i will work on your asset here when i wrap up a few other changes i have going on nnow
Pool verified and approved! No cap for next distribution! Thank you for assisting the disrtibution of NSC!


Thank you ebby for your work on NSC.

JPool is NXT-QTDC-DL8B-WHSE-FQ4Y3

I will distribute it to the lessors, but right now I don't know the details how to calculate the distribution. I will have a study on it.
Pool verified and approved! No cap for next distribution! Thank you for assisting the disrtibution of NSC!


For calculation the pool owners can use my log file. Search for your account-ID and use the block-ID for calculating the distribution to your lessors which were active for this block.

I will update the first post with some information.
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