elective-stereophonic
elective-stereophonic
Re: NXTCrypto.org leased forging pool - - CEASING OPERATIONS singapore
Please login or register.

Login with username, password and session length
Advanced search  

News:

Latest Nxt Client: Nxt 1.11.15

Pages: [1] 2 3 ... 26

Author Topic: Re: NXTCrypto.org leased forging pool - - CEASING OPERATIONS  (Read 89681 times)

forkedchain

  • Ex-Staff Member
  • Hero Member
  • *****
  • Karma: +74/-10
  • Offline Offline
  • Posts: 1190
  • bite me
    • View Profile

Note that this 2 NXT for withdrawal has nothing to do with withdrawing your lease, that is free, When I say withdraw, I mean withdraw your earnings.

AE release is after leased forging.  at 1000 NXT per asset, if you want guaranteed forging the leased forging pool I am working on for nxtcrypto.org VPSs is built inherently with HA (high availability) forging nodes running in tandem.  the 2 nodes communicate and if 1 is forging the other makes sure its not, and vice versa.  This part is actually already working right now, for account 1460178482 which will be the forging pool account.

I will not charge ANY fees for this leased pool forging service.  The only cost required is whenever you build up a balance and want a payout, to merely send an AM (your cost is 1 NXT) to the forging account, and you will get your earnings sent to you minus the 1 NXT for the pool to transfer you your NXT.

im also programming fork detection and block orphan detection into the whole thing, so it should be 100% smooth automatic operation, none of this BS like where exchanges temp "lose" your withdrawal and you have to contact them for resolution.  this happens because NXT does occasionally fork, and sometime it happens when people are requesting withdraw.


To lease your balance, after you receive block 130000 (very soon now) use this link :

http://localhost:7876/test?requestType=leaseBalance

period:
32767
This lease period is set in the form by number of blocks.  You can use whatever value you want here, from 1440 to 32767 I believe.  28800 would be a bit over 1 month.  to save your NXT and prevent hassle of resending lease too frequently, you may want to just use max 32767

recipient:
1460178482 

public key:
(leave this one blank)

feeNQT:
100000000

deadline:
1440

leave the last 2 blank as well


When leasing, you still maintain full control of your NXT - the pool simply receives your "effectiveBalance" which is only your current forging power.   You can still sell any amount of your NXT or receive some.  The pool cannot do anything with your NXT account or balance.  When you sell/buy more during an active lease, what happens is your contribution to the pool is automatically adjusted for in the NXT protocol.

Keep in mind that when you lease out, you immediately lose all forging power and the pool does not receive it until 1440 blocks have passed, then the lease becomes active for duration of whatever blocks you set, remember that URL witl blocks=14400 will lease for about 1/2 a month.

So my program & DB simply keeps track of things and processes AMs sent from users to the pool as requests for payment, and generates a payment if there are funds, and the funds minus min NQT transaction fee > 0.

https://ardorpool.tezzigator.com/NXTWallet/Status
« Last Edit: August 25, 2018, 11:58:03 pm by forkedchain »
Logged
NXT tips: 2319251 or NXT-8SWM-2224-YKWW-22222

Jean-Luc

  • Core Dev
  • Hero Member
  • *****
  • Karma: +816/-81
  • Offline Offline
  • Posts: 1610
    • View Profile

In the above URL, fee needs to be feeNQT. And to avoid problems with special characters in secret phrase having to be encoded, use a form such as: https://localhost:7876/test?requestType=leaseBalance
Logged
GPG key fingerprint: 263A 9EB0 29CF C77A 3D06  FD13 811D 6940 E1E4 240C
NXT-X4LF-9A4G-WN9Z-2R322

Tosch110

  • Ex-Staff Member
  • Hero Member
  • *****
  • Karma: +211/-18
  • Offline Offline
  • Posts: 2365
    • View Profile

How does that work?

Is there any login or registration needed?

Do I just lease it to you and you share the winnings of all accounts equally to the forging power they give you?

General leasing question: I have full access over my account and can make sendings/receive NXT?
My leased forging power is automatically adjusted to my balance?

so much questions... :D thanks already

nCtrl

  • Sr. Member
  • ****
  • Karma: +31/-0
  • Offline Offline
  • Posts: 254
    • View Profile

The easy way to do it (it works on the test net, so I guess it will work on the main net too):
1. launch your client
2. open http://localhost:7876 (or https://localhost:7876 or whatever)
3. click "more info" on the square showing your account balance
4. click the "Account Leasing" tab
5. click "lease your balance to another account"
6. insert the account you wish to lease your balance to. Set for how long under "period" (it is expressed in blocks, so 1440 blocks = 24h) and finally set your secret phrase.
7. click the "lease balance" button.

How does that work?
Essentially he sets up an account. People lease their forging power to that account. What this means for you:
1. You do not need to leave your client open 24/7 in order to forge. He will. (truth be told, it is better if you still do for the sake of the network)
2. If you have small amounts of NXT, it is hard to compete (in terms of chance of generating a block) with accounts that own huge amounts of NXT. Account leasing allows "small fishes" to gain more relevance. Of course that does not entirely solve your problem. If you have a few NXT, you will still get a low percentage of the fees gained by the pool since your contribution is small.
3. It is safer than before. There were already forging pools before, but you had to send them your money. This requires trust in the pool, since they can decide to keep the coins. With leased forging, you give them just your "forging power", the coins are still in your account.

Is there any login or registration needed?
I could be wrong, but I highly doubt that. The only interaction you really need with the pool depends on how the rewards are handled. I suppose the idea is that you will be able to request a payout by sending an arbitrary message.

Do I just lease it to you and you share the winnings of all accounts equally to the forging power they give you?

Yes, that is the idea. More people get together to have a higher chance of generating a block. If the pool manages to do so, he will accumulate the reward every user deserves proportionally to the forging power of each. This still requires an element of trust. Your leased balance will automatically get back when the leasing period ends. However, how to handle the forging rewards is entirely up to the pool manager, so you cannot be sure (at least not 100% sure) that the pool will pay you accordingly. (compare this to the trust you needed before, where you had to send them your money)

General leasing question: I have full access over my account and can make sendings/receive NXT?
My leased forging power is automatically adjusted to my balance?

The NXT do not leave your account. If you have 1000 NXT and you lease them. Then the pool will register this has your forging power. If you spend half of them, the amount leased will decrease accordingly on the pool's side. It is up to the pool to keep track how every account leasing they power to them is actually contributing at any given time.
Needless to say, if you lease your balance and you still decide to forge on your account, it will count only once.
« Last Edit: May 04, 2014, 10:51:32 pm by nCtrl »
Logged

CryptKeeper

  • Hero Member
  • *****
  • Karma: +78/-5
  • Offline Offline
  • Posts: 1235
    • View Profile

If I'm leasing my forging power, am I still able to sell my nxt? And if yes, does this transaction breaks the lease?
Logged
Follow me on twitter for the latest news on bitcoin and altcoins!
Vanity Accounts Sale :-)

nCtrl

  • Sr. Member
  • ****
  • Karma: +31/-0
  • Offline Offline
  • Posts: 254
    • View Profile

Yes you still can sell your NXT. You do not break the lease, from the pool's perspective you were leasing X NXT for a while and then suddenly started leasing just an amount Y. The pool is supposed to track these variations when it calculates your contribution.
Logged

forkedchain

  • Ex-Staff Member
  • Hero Member
  • *****
  • Karma: +74/-10
  • Offline Offline
  • Posts: 1190
  • bite me
    • View Profile

In the above URL, fee needs to be feeNQT. And to avoid problems with special characters in secret phrase having to be encoded, use a form such as: https://localhost:7876/test?requestType=leaseBalance

thanks.  I thought NQT didnt become active until 132k.  so the form you're provided is a much better option anyways.
« Last Edit: May 05, 2014, 08:25:49 pm by forkedchain »
Logged
NXT tips: 2319251 or NXT-8SWM-2224-YKWW-22222

Jean-Luc

  • Core Dev
  • Hero Member
  • *****
  • Karma: +816/-81
  • Offline Offline
  • Posts: 1610
    • View Profile

There is a bug where? I just tried it again on localhost with POST enforced, and didn't have any problems submitting a lease request with this form.
Logged
GPG key fingerprint: 263A 9EB0 29CF C77A 3D06  FD13 811D 6940 E1E4 240C
NXT-X4LF-9A4G-WN9Z-2R322

forkedchain

  • Ex-Staff Member
  • Hero Member
  • *****
  • Karma: +74/-10
  • Offline Offline
  • Posts: 1190
  • bite me
    • View Profile

weird
There is a bug where? I just tried it again on localhost with POST enforced, and didn't have any problems submitting a lease request with this form.


wait nevermind, not sure what I did wrong but i guess i must have tried to connect to a different host.  its working now
Logged
NXT tips: 2319251 or NXT-8SWM-2224-YKWW-22222

CryptKeeper

  • Hero Member
  • *****
  • Karma: +78/-5
  • Offline Offline
  • Posts: 1235
    • View Profile

Yes you still can sell your NXT. You do not break the lease, from the pool's perspective you were leasing X NXT for a while and then suddenly started leasing just an amount Y. The pool is supposed to track these variations when it calculates your contribution.

Thanks, quite clever how this is handled.
Logged
Follow me on twitter for the latest news on bitcoin and altcoins!
Vanity Accounts Sale :-)

Tosch110

  • Ex-Staff Member
  • Hero Member
  • *****
  • Karma: +211/-18
  • Offline Offline
  • Posts: 2365
    • View Profile

@forkedchain I would like to use this. Is there any transparency in the pools earnings?

rudeboi

  • Hero Member
  • *****
  • Karma: +55/-4
  • Offline Offline
  • Posts: 633
  • Nxt Organization Member
    • View Profile

Looks good.

I will lease over my balance to the forging pool to try this out.
Logged
▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬  ▄▀▀▀▀▀▀▀▀▄  ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬
▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬●  nimirum  ●▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬
▬▬▬ ◖ENDING CENSORSHIP ONLINE◗  ◖ ICO OPEN NOW◗ ▬▬▬

forkedchain

  • Ex-Staff Member
  • Hero Member
  • *****
  • Karma: +74/-10
  • Offline Offline
  • Posts: 1190
  • bite me
    • View Profile

@forkedchain I would like to use this. Is there any transparency in the pools earnings?

this will be accomplished by php interface into the db where you can search or get a list of all blocks, leasors, etc and see how fees were divided.
Logged
NXT tips: 2319251 or NXT-8SWM-2224-YKWW-22222

Tosch110

  • Ex-Staff Member
  • Hero Member
  • *****
  • Karma: +211/-18
  • Offline Offline
  • Posts: 2365
    • View Profile

great! I will wait until this works and give you my forging power ;)

rlh

  • Sr. Member
  • ****
  • Karma: +31/-7
  • Offline Offline
  • Posts: 404
    • View Profile

I will follow this and probably add my Nxt to your forging pool.

Is there a way for me to query your effective balance?  Either through a client or a Block Explorer?

I have over +600k Nxt and though I hit blocks, 75% don't have fees.  I prefer to be forging with at least a few million Nxt so that I can get more consistent payouts.

Thanks FC.  This is really awesome.
Logged
C# Nxt Small Address VanityGen - http://bit.ly/nxtminvanity
C# Nxt RS Address VanityGen - http://bit.ly/nxtrsvanity
Send Donations to my offline Nxt account: NXT-FRS2-MQR5-758P-ANNEX

forkedchain

  • Ex-Staff Member
  • Hero Member
  • *****
  • Karma: +74/-10
  • Offline Offline
  • Posts: 1190
  • bite me
    • View Profile

great! I will wait until this works and give you my forging power ;)

the high-availability forging is currently working, as is the tracking of each leasor's balance as of each new block.  So hopefully we can get as many leasors as possible before AE release, as those are 1000 a pop.

I will follow this and probably add my Nxt to your forging pool.

Is there a way for me to query your effective balance?  Either through a client or a Block Explorer?

I have over +600k Nxt and though I hit blocks, 75% don't have fees.  I prefer to be forging with at least a few million Nxt so that I can get more consistent payouts.

Thanks FC.  This is really awesome.

if you use the getAccount API you will get the pools forging power returned as effectiveBalanceNXT, along with all the lessors

Code: [Select]
# ncli getAccount l 16485327922386980388

    balanceNQT: 2000500000000
    effectiveBalanceNXT: 495004
    lessors:
        7280542853324874741
        13578790447497894235

    publicKey: dfa7078530beb39097c1e8faa62a192020d25b558a51f3705192cc46bcd62a45
    unconfirmedBalanceNQT: 2000500000000

#

to get the pool account's, or any lessors' individual forging power, use getGuaranteedBalance API using 1440 as number of confirmations


Code: [Select]
# ncli getGuaranteedBalance l 16485327922386980388 1440

    guaranteedBalanceNQT: 2000400000000

#

note that those 2 APIs I just showed you are in the testnet, none of the leases the production pool 1460178482 has received in the main chain have matured through the 1440 blocks yet, so they dont even show up yet.  but you get the general idea.
« Last Edit: May 06, 2014, 02:23:08 pm by forkedchain »
Logged
NXT tips: 2319251 or NXT-8SWM-2224-YKWW-22222

MrV777

  • Hero Member
  • *****
  • Karma: +115/-4
  • Offline Offline
  • Posts: 988
    • View Profile

I have over +600k Nxt and though I hit blocks, 75% don't have fees.  I prefer to be forging with at least a few million Nxt so that I can get more consistent payouts.

600,000 NXT?  Nice!  I thought I wasn't doing too bad with 15,000... Ha
Logged
NXT: NXT-BK2J-ZMY4-93UY-8EM9V
NXT nodes: 209.222.98.250, 216.155.128.10

forkedchain

  • Ex-Staff Member
  • Hero Member
  • *****
  • Karma: +74/-10
  • Offline Offline
  • Posts: 1190
  • bite me
    • View Profile

There is a bug where? I just tried it again on localhost with POST enforced, and didn't have any problems submitting a lease request with this form.

i think i just replicated the problem.  it looks like in testnet maybe it works correctly?  I just tried it on production main net client 1.0.0 and got the POST required API response.  then I disabled POST and now instead of taking me to the form it just says
{"errorCode":3,"errorDescription":"\"period\" not specified"}

in testnet, my 1.0.0 testnet client just takes me to the form


ETA: nevermind, I see that the test? needs to stay as is, even in production net if you arent on testnet. sorry
« Last Edit: May 06, 2014, 06:05:11 pm by forkedchain »
Logged
NXT tips: 2319251 or NXT-8SWM-2224-YKWW-22222

allbits

  • Full Member
  • ***
  • Karma: +31/-3
  • Offline Offline
  • Posts: 221
    • View Profile

So I can lease my forging power to you now?

I just follow the instructions above?
Logged

theironman

  • Sr. Member
  • ****
  • Karma: +29/-2
  • Offline Offline
  • Posts: 460
    • View Profile
    • NXTdrop

It says:
Account Balance - Leased Soon   ::)
Logged
NXTdrop - World´s 1st decentralized oil painting available in Asset Exchange Id: 2751500054965016187

ps. https://nxtforum.org/trading-exchanges/selling-original-oil-paintings-for-nxt/
Pages: [1] 2 3 ... 26
 

elective-stereophonic
elective-stereophonic
assembly
assembly