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Latest Nxt Client 1.11.9 - NEW RELEASE: Ardor 2.0.3e TestNet IS LAUNCHED!

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Author Topic: Nxt Improvement Proposals - Introduce and Discuss NIPs here  (Read 6184 times)

Valtiel

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I have a proposal that I believe is very important.
Since NXT is the second generation cryptocurrency and it solves all the problems of bitcoin, it doesn't actually solve bitcoins deflation.
If someone forgets his password, he will lose all their NXTs, so my proposal is:

-if a user doesn't use his account for example in 6 months period, all the NXTs in his account are placed in the forging pool and then distrubuted among the users via PoS system,
-but if a user suddenly (god forbid) dies and he didn't give his password to his relative, his NXTs shouldn't be distributed among the users, so I propose an option to select an heir account, that will inherit in a period of (for example) 6 months the NXTs of the deceased.

This will ensure that all the 1 billion NXTs remain in circulation.

Thank You!
i was thinking the same wth some variation. detonate it after 2 years after the last login in that account recycling 1% of the starting nxt per month that give 8.3 years for totally recycle all the account balance returning it to the PoS system.
adding the 2 years of grace that more than 10 years to remember your password and log again. and as soon someone log the whole process stop restarting the counter. that mean if you log after 2 years and 1 month you just lost 1% i think 10 years is enough to ensure the user truly forgot the account and 2 years of grace is enough to keep all the coins intacts.
thats assure us we not suddenly get flooded with "cheap nxt" beacuse its start flowing back to the system in tiny quantities. the recycling process can be showed at the blockchain as "recycling" showing the recycling account to help the owner to remember it and try to log before it got empty.
as i seen nxt is pointing more to be a process token than a fiat coin. every nxt is useful as incentive to keep nodes and method to pay those processes i assume the devs believe 1b nxt is the optimal quantity to keep fluidity in the blockchain. keep them in forgotten accounts could cause a inflationary process where nxt go up in value beacuse they fell in number. thats good as investment but bad for keep the processes flowing (at least my point of view) i consider the dieal is keep the 1b in movement all the time to keep the rocess and nxt economy alive.

coffeetime

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3rd video down nxt isle of man no play http://www.nxtcommunity.org/nxt/videos

NXT-XQ76-5XRL-EEEW-BHRCQ

Najska

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Requirement of the public key in a NXT ID's very first transaction is disturbing the user experience. I believe an improvement should be made to eliminate that requirement.
What NXT has and others do not is vision.

Najska

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More importantly, a 'minimum amount' specification might be supplied in AE. When one gives a sell order, for example, they may want to sell 1000 numbers of an asset at 0.1 NXT. But when one buys only 5 of them, it makes 0.5 NXT, which is lower even than the tx fee, which will put the seller in an unwanted situation. So, the seller should be able to specify a certain lower limit when giving the order.
« Last Edit: January 13, 2015, 12:56:29 am by Najska »
What NXT has and others do not is vision.

bitcoinpaul

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Requirement of the public key in a NXT ID's very first transaction is disturbing the user experience. I believe an improvement should be made to eliminate that requirement.

Done.
Like my Avatar? Reply now! NXT-M5JR-2L5Z-CFBP-8X7P3

bitcoinpaul

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More importantly, a 'minimum amount' specification might be supplied in AE. When one gives a sell order, for example, they may want to sell 1000 numbers of an asset at 0.1 NXT. But when one buys only 5 of them, it makes 0.5 NXT, which is lower even than the tx fee, which will put the seller in an unwanted situation. So, the seller should be able to specify a certain lower limit when giving the order.

The seller only pays a fee once.
Like my Avatar? Reply now! NXT-M5JR-2L5Z-CFBP-8X7P3

Najska

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Thank you very much!

I have another proposal. Wouldn't it be awesome to have a price chart in the client's AE page for each pair?
What NXT has and others do not is vision.

Najska

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Another one: "Change your password" feature.

When the new password is entered, everything in the old wallet will be transferred to the new one. This will require a certain amount of fee, which is calculated by counting the number of the assets owned. The transfer process may easily be automated and put as a "password change" feature.

In terms of user experience, this would be awesome for a newcomer, at least. Also, I heard that the fact that you cannot change your password is used as an argument against Nxt.
What NXT has and others do not is vision.

capodieci

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Another one: "Change your password" feature.

When the new password is entered, everything in the old wallet will be transferred to the new one. This will require a certain amount of fee, which is calculated by counting the number of the assets owned. The transfer process may easily be automated and put as a "password change" feature.

In terms of user experience, this would be awesome for a newcomer, at least. Also, I heard that the fact that you cannot change your password is used as an argument against Nxt.

I got to love how to call one thing in another way makes it look absolutely brilliant :)

r
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Fatih87SK

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Another one: "Change your password" feature.

When the new password is entered, everything in the old wallet will be transferred to the new one. This will require a certain amount of fee, which is calculated by counting the number of the assets owned. The transfer process may easily be automated and put as a "password change" feature.

In terms of user experience, this would be awesome for a newcomer, at least. Also, I heard that the fact that you cannot change your password is used as an argument against Nxt.

I got to love how to call one thing in another way makes it look absolutely brilliant :)

r

There was an argument why this is a bad idea as well;

> When your account is hacked. The hacker can transfer all of your portfolio with just changing the password.

capodieci

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There was an argument why this is a bad idea as well;
> When your account is hacked. The hacker can transfer all of your portfolio with just changing the password.

Well, he can do it anyways, and if this person is a hacker he may have already a script ready to do so. I had an account hacked in the past, and the private key has not been disclosed publicly. I had to do a test with buying/selling a product, so I sent there a few NXT to try the market system, and I left 2 NXT in the wallet. Matter of a short time they were gone. I followed the transfer, and they went to a wallet where many other small change was transferred from other hacked wallets. My guess is that there is someone with a script running that periodically checks thousands of wallets looking for spare change. Pretty much like we were doing as kids checking in public phones if someone had left a quarter or a dime (in my case a phone token) in the change drawer.

So I rather support a script available to everyone, to fast put in a safe place my funds once I realise my private key could have been stolen...

R
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blackyblack1

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Proposal for generalisation for phased transactions: conditional transactions.

Let tx sender set destination address for both approved and rejected voting results. Now rejected tx is returned back to issuer (nothing happens) but I propose to send phased tx to account A in case of positive vote and account B in case of negative vote.

cayenne

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Proposal: a way to forge without having your passphrase sitting in memory on your server.

Adversaries can see who has the largest amount of NXT (later Ardor) in their accounts. And they can tell if they are forging. An adversary could target those computers for hacking and steal the passphrase from memory. So, if you forge, you have to take that risk, and the more NXT or Ardor you have, the greater the risk. It makes accounts with lots of coin less likely to forge and puts them under an  unnecessary risk.
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