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how do i mint ELEMS?

how do i mint ELEMS?

Added Update to the main post:

Update1: How do I mine ELEMS:

According to Nxt minting wiki:

1.Locate nxt-default.properties file in nxt-client-1.4.7.1\nxt\conf folder
2.Copy paste this file and rename it to nxt.properties
3. Open the file, locate the parameter below and change them accordingly:


nxt.mint.serverAddress - the address of the NXT peer accepting the transactions. Defaults to "localhost".

nxt.mint.currencyCode - specifies the monetary system currency code of the currency to mint.

nxt.mint.secretPhrase - secret phrase of the account to which the new currency units are granted. This secret phrase is submitted to the peer with each mint transaction.

nxt.mint.unitsPerMint - specifies the number of units per mint for each mint transaction. This is the number of units credited to the minter account, however, minting difficulty increases linearly with the number of units, therefore small minters should define small number of units and large minters a larger number [default: 1 whole unit per mint] This field accepts decimal positions according to the currency decimals.

nxt.mint.threadPoolSize - number of threads used for hashing [default: 1 thread per CPU core]

nxt.mint.initialNonce - by default (or when setting the value to 0) the initial nonce is chosen randomly and increased by one on every hash calculation. Set this value when you like the hashing process to work deterministically, for example for testing purposes.

nxt.mint.isSubmitted - by default the mint worker does not actually submit the minting transaction. To submit the transactions automatically whenever a hash is solved set this value to true. Refer to the best practices section below.


Example:

nxt.mint.serverAddress=localhost
nxt.mint.currencyCode=ELEMS
nxt.mint.secretPhrase=your passphrase
nxt.mint.unitsPerMint=1
nxt.mint.threadPoolSize=1
nxt.mint.initialNonce=0
nxt.mint.isSubmitted=true

Runtime

To execute the mint worker follow these steps:

1.Install NXT
2.Configure the mint parameters as explained above
3.Start the NXT node and update the blockchain
4.Once the node is started launch the mint worker by running mint.sh on Unix or mint.bat on Windows
5.The mint worker connects to the NXT node specified by the nxt.mint.serverAddress setting, to retrieve the minting parameters and submit the solution nonce.


Additional Best practices

Never set the isSubmitted flag to true unless you are absolutely sure what's you are doing. You may end up paying a lot of fees and spamming the blockchain.

Always start by minting 1 unit per mint and observe the log messages printed by the mint worker. Look at the hash rate and the number of seconds per transaction. Adjust the nxt.mint.unitsPerMint setting so that the mint worker solves no more than one hash per hour, but also consider that a single transaction cannot mint more than 1/10000 of the total unit supply.

Update 2 :
2.09 ELEMS already mined!

By looking all the other POW coins, ELEMS is the first coin that people start to mine. Thank you!

Its not working for me.. any idea??

Initializing Nxt server version 1.4.7
2015-01-11 01:05:50 INFO: nxt.enableStackTraces = "true"
2015-01-11 01:05:50 INFO: nxt.enableLogTraceback = "false"
2015-01-11 01:05:50 INFO: logging enabled
2015-01-11 01:05:50 INFO: nxt.mint.currencyCode = "ELEMS"
2015-01-11 01:05:50 INFO: nxt.mint.secretPhrase = "THIS IS MY SECRET"
2015-01-11 01:05:50 INFO: nxt.mint.isSubmitted = "true"
2015-01-11 01:05:50 INFO: nxt.maxRollback = "1440"
2015-01-11 01:05:50 INFO: nxt.isTestnet = "false"
2015-01-11 01:05:50 INFO: nxt.isOffline = "false"
2015-01-11 01:05:50 INFO: nxt.trimDerivedTables = "true"
2015-01-11 01:05:50 INFO: nxt.numberOfForkConfirmations = "5"
2015-01-11 01:05:50 INFO: nxt.disableGetMoreBlocksThread not defined, assuming f
alse
2015-01-11 01:05:50 INFO: nxt.dbCacheKB = "0"
2015-01-11 01:05:50 INFO: nxt.dbUrl = "jdbc:h2:nxt_db/nxt;DB_CLOSE_ON_EXIT=FALSE
;MVCC=TRUE"
2015-01-11 01:05:50 INFO: nxt.maxDbConnections = "30"
2015-01-11 01:05:50 INFO: nxt.dbLoginTimeout = "70"
2015-01-11 01:05:50 INFO: nxt.dbDefaultLockTimeout = "60"
2015-01-11 01:05:50 INFO: nxt.mint.serverAddress = "localhost"
2015-01-11 01:05:50 INFO: nxt.apiServerPort = "7876"
2015-01-11 01:05:50 FINE: Sending request to server: http://localhost:7876/nxt?c
ode=ELEMS&requestType=getCurrency
2015-01-11 01:05:50 INFO: nxt.mint.unitsPerMint = "1"
2015-01-11 01:05:50 INFO: nxt.mint.serverAddress = "localhost"
2015-01-11 01:05:50 INFO: nxt.apiServerPort = "7876"
2015-01-11 01:05:50 FINE: Sending request to server: http://localhost:7876/nxt?r
equestType=getMintingTarget&currency=7035962084481354251&units=10000&account=NXT
-BS9K-5KTE-4892-23JY8
Exception in thread "main" java.lang.IllegalStateException: Request http://local
host:7876/nxt?requestType=getMintingTarget&currency=7035962084481354251&units=10
000&account=NXT-BS9K-5KTE-4892-23JY8 produced error response code 5 message "Unk
nown account"
        at nxt.mint.MintWorker.getJsonResponse(MintWorker.java:221)
        at nxt.mint.MintWorker.getMintingTarget(MintWorker.java:175)
        at nxt.mint.MintWorker.mint(MintWorker.java:77)
        at nxt.mint.MintWorker.main(MintWorker.java:46)


Its not working for me.. any idea?? 

account=NXT-BS9K-5KTE-4892-23JY8 produced error response code 5 message "Unk
nown account"  ---> Is this your account? did you put the correct pass-phrase?

Quote from: natty on January 10, 2015, 10:34:52 pm

How much Nxt do you pay for 1 ELEMS?

The first Exchange Request for ELEMS is live:   500nxt for 1 ELEMS

*This is close to the price of LTC before the big drop that happens the last 2-3 weeks. ELEMS and LTC have both the same amount of total coins: 84 millions.

Where can I see this exchange request ? I just see :

Offers to Exchange NXT for ELEMS
Height    Account    Units    Limit    Rate
330108   NXT-L32A-SP75-LNQZ-8V89Y   1   1   1
330118   NXT-3FAT-YTFM-7GAB-9HHS9   1   1   0.01

I'm confused on how to open the file nxt.properties

I renamed it nxt.properties but I can't open it. So I changed it to a .txt file but can't find what is needed to change...

I recommend you to google and install notepad++   

Quote from: Wakasaki808 on January 11, 2015, 12:40:44 am

I'm confused on how to open the file nxt.properties

I renamed it nxt.properties but I can't open it. So I changed it to a .txt file but can't find what is needed to change...

I recommend you to google and install notepad++   

thanks forgot about that