Show Posts - CryptKeeper
Please login or register.

Login with username, password and session length
Advanced search  


Latest Stable Nxt Client: Nxt 1.11.15 | Latest Experimental Nxt Client: Nxt 1.12.0e

Show Posts

This section allows you to view all posts made by this member. Note that you can only see posts made in areas you currently have access to.

Topics - CryptKeeper

Pages: [1]
There were debates about the height of the transaction fees several times already in the history of Nxt. For emerging nations the fees, which are reasonable for western countries, are too high. Some payment projects in these countries, mainly on the African continent, would be very interesting applications for a cryptocurrency like Nxt but the fees prevent that. The fee debates in the Nxt community didn't lead to a substantial reduction of the fees for different reasons. I see a technical and an economical component:

As I have understand the technical and security side of it, the fees prevent spam attacks and can't be avoided in a proof-of-stake system like Nxt. If you had no fees, every attacker could easily write a script that would send out millions of transactions, bloating the blockchain and keeping the nodes busy with processing those transactions. And it would cost the attacker nothing, if there were no fees to spend for putting transactions on the blockchain.

The economical side of fees is that node providers need an incentive to run their nodes and support the Nxt network. Without earning fees, only Nxt enthusiasts would run nodes and the size of the network would be much smaller than it is now.

At least the economical aspect will change with the introduction of Nxt 2.0: Ardor and it's child chain tech. The Ardor nodes will be paid by the child chain provider who runs the "bundlers". Maybe providers and bundlers will be two completely different parties, that's over my mind. As far as I have understand it, the bundlers will collect the child chain transactions and will forward them to the Ardor nodes to be inserted into Ardor blocks. The clients of the child chain will pay their fees to the bundlers in their native token, not in ARDR. So it's not only possible to pay the fees in the child chain currency (a feature often asked for and one of the killer features of Ardor) but even the value of the fee itself can be modified by the bundler/provider. The bundler/provider could make a profit in taking a higher fee as he must pay for the inclusion of the transaction into the Ardor block. Or - and now comes the interesting part - he could subsidize the transaction fees, leading to much lower fees or even completely feeless transactions! That's great!

But wait a second before you open the champagne! What's with the technical component? You remember: fees are here to prevent spam on the blockchain. Ah, ok. Fees are still paid to the Ardor nodes, so at least the main chain is secure. But what's with the child chain? Who is preventing that the subsidy budget of the bundlers is running dry because some attackers send millions of feeless transactions to themselves? It seems that reducing the fees on the child chain wasn't such a smart idea in the first place!

Thank you for reading up to this point. You've certainly already guessed that I want to propose a solution to this problem ;) (the thread title reveals what I'm up to). But first let's have a look how other cryptos handling the fees.

Bitcoin always had a complex approach to fee calculation, in which transaction amount and age of coins were taken into account. So until a few months ago, it was possible to send some bitcoins completely without fees. Usually even transactions with small amounts of younger coins were confirmed, though after a long delay when there was empty space in a block. Nowadays it's impossible to send bitcoins without fees because the latest node software will prevent this. You have to add quite a high fee - much higher than in Nxt - if you want to have your bitcoin transactions confirmed in a reasonable timeframe.

IOTA, a new crypto for the Internet of Things currently in Beta, takes a totally different approach, making the feeless transaction the default. There are no fees in IOTA. Period. There isn't even a decent blockchain in IOTA. :) They use something called "tangle": a directed acyclic graph (DAG) as a distributed ledger. But that's a totally different story, back to topic. How do IOTA prevent blockchain spam? They are using an old friend from the bitcoin world: Proof-of-Work (POW). Every wallet must prove that it has solved some mathematical puzzle before it can add transactions to the tangle (their kind-of blockchain). Interesting that in bitcoin the POW is only used to create new coins. In IOTA, all coins are pre-mined and the POW is used to prevent spam.

Although I prefer Proof-of-Stake over Proof-of-Work because of it's energy efficiency, I must say that POW is a smart way to tackle the problem of securing feeless crypto systems! I see this as a great solution for an Ardor child chain! I wouldn't go so far to say that POW should be the default to "pay" fees for transactions, but it could be used as another option for a specific chain. You must keep in mind that a lot of people doesn't have a problem to pay some small fee, if the transaction is reasonable fast accepted. POW could be optional, offering transactions without fees in certain markets, in which the height of the fees are not economically feasible.

We already have the technology in Nxt to implement this: with the Monetary System, you could set up a mintable currency (the "fee coin") especially for paying the transaction fees (and nothing else, non-transferable to prevent trading). A special wallet could be developed, in which the mint code is integrated. The "fee coin" must be minted before a new transaction is accepted by the bundler. The bundler would accept the "fee coin" or the child chain's native currency as payment.
The POW for paying the tx to the bundler should be coupled tightly to the payer and current timestamp. This is necessary to avoid sybil attacks and accumulating hashing power over time. Protocols for this are already available and well-tested, e.g. hashcash.
The child chain would therefore be secured against spam attacks because the attacker would either have to spend native coins or must do Proof-of-Work to have his transactions accepted by the bundlers. All of this could be totally transparent to the user, hiding the complexity from him. Maybe he should be asked what his fee preference is: feeless with slower transactions (POW must be done first) or paying fees for faster transactions.

I had this idea and wanted to release it into the wild to see what you think about it. Sure the Nxt devs will rip this apart :D and will prove that this is not possible with Ardor, but what do I know. It would still be nice if this leads to some fresh thoughts about the old fee debate! Please discuss and share your thoughts about it. Thanks for your patience!

Proof-of-Work (POW) could be integrated into an Ardor child chain wallet, preventing blockchain spam in a feeless system.

Der Spendenmarathon für das von EvilDave und Damelon ins Leben gerufene Marketing-Projekt "Tennessee" befindet sich in der Endrunde! Die anvisierten 10 Mio. NXT sind noch nicht erreicht, daher bitte überlegt Euch, ob Ihr nicht (nochmal) etwas spenden wollt. Auch kleine Beträge helfen schon, jeder Coin zählt! Bis morgen, Montag kann noch gespendet werden, dann ist die Deadline überschritten und entweder die 10 Millionen sind erreicht und das Projekt kann starten oder alle Einzahlungen gehen automatisch an die Spender zurück.

Zur Förderung des Tennessee-Spendenaufrufs sind gerade 20000 InstantDex-Assets gespendet worden. Wenn Ihr noch welche braucht, könnt Ihr sie für 100 NXT erwerben und der Erlös wird als Spende verbucht:


Außerdem gibt es noch ein Gewinnspiel: wer das genaue Spendenergebnis in NXT errät, gewinnt 10000 NXT!  :D

Es sind nur noch 4 Tage, dann erreichen wir Block 445000 und Voting und Phasing werden aktiviert.

Ihr solltet jetzt unbedingt euer NRS aktualisieren, um die neuen Funktionen zu unterstützen!

Hier der Countdown: http://jnxt.org/countdown/?block=445000

Danke für Eure Aufmerksamkeit, weitermachen!  :)

Hallo Leute!

Könnt Ihr bitte mal hier schauen: https://nxtforum.org/index.php?topic=6545.msg130340#msg130340

Das ist eine super Kampagne, bei der junge Leute für kostenlose Spieleserver interessiert werden sollen. Was hat das mit Nxt zu tun? Nun, jeder der sich dort neu registriert, bekommt 100 NXT als Startkapital. Ich muss wohl nicht betonen, dass das ein wahnsinniger Anschub für die Popularität von Nxt werden kann, wenn die Kampagne Erfolg hat. Die Zielgruppe ist ideal: junge, technikbegeisterte Internetbenutzer, die gerne mal neue Technologien ausprobieren (Stichwort "Spieltrieb").

Nun ja, die 100 NXT müssen irgendwo herkommen, außerdem braucht Freebieservers Geld, um den Entwickler für die Nxt-Einbindung zu bezahlen. Deshalb meine Bitte an Euch: spendet soviel Ihr könnt, damit diese Kampagne ein Erfolg wird! Bisher sind 15000 20000 NXT gespendet worden, aber das reicht noch lange nicht! Auch kleine Beträge helfen!

Vielen Dank für Eure Aufmerksamkeit!


CoinsHost is a team of web hosting professionals who focus on DDoS protection and secure hosting services. We have developed a powerful proprietary DDoS mitigation solution that is capable of mitigating massive and sophisticated attacks, leaving a targeted website or service unaffected.

CoinsHost designed its infrastructure with redundancy in mind - enterprise-class Supermicro® and Cisco® hardware, multiple TIER-1 upstream providers, dual power source with UPS, diesel generators and automatic switchover, multilayer IP packet filtering solution allow us to provide unmatched DDoS protected hosting with highest availability at a very reasonable price. We treat decentralized currencies based on encryption as completely legit payment methods and encourage our clients to pay with them. Besides Bitcoin, Litecoin and Nextcoin P2P currencies, we accept a wide range of other payment methods and digital currencies.

Trading & Exchanges / WTB 100K+ NXT
« on: July 15, 2014, 07:39:30 am »
I'd like to buy NXT, paying with BTC.

Price should not exceed bter's rate.

Escrow mandatory.

Please PM me with your best offer (minimum 100,000 NXT), thank you.

Nxt Client Helpdesk / where to put nxt.properties?
« on: June 21, 2014, 01:21:05 pm »
I've created a nxt.properties file and copied it to the folder where the nxt-default.properties is located:

C:\Program Files (x86)\Nxt Wallet\nxt\conf

File content:
Code: [Select]
# A list of well known peer addresses / host names, separated by '; '.
# If not set, a random selection of nxtcrypto.org and nxtbase.com nodes is used.
nxt.wellKnownPeers=cubie-solar.mjke.de; vps1.nxtcrypto.org; vps2.nxtcrypto.org; vps3.nxtcrypto.org; vps4.nxtcrypto.org; vps5.nxtcrypto.org; vps6.nxtcrypto.org; vps7.nxtcrypto.org; vps8.nxtcrypto.org; vps9.nxtcrypto.org; vps10.nxtcrypto.org; vps11.nxtcrypto.org; vps12.nxtcrypto.org;  bitsy01.vps.nxtcrypto.org; bitsy02.vps.nxtcrypto.org; bitsy03.vps.nxtcrypto.org; bitsy04.vps.nxtcrypto.org; bitsy05.vps.nxtcrypto.org; abctc.vps.nxtcrypto.org; xyzzyx.vps.nxtcrypto.org; xeqtorcreed.vps.nxtcrypto.org; xeqtorcreed2.vps.nxtcrypto.org

# Maintain active connections with at least that many peers.

I'm using the Nxt Wallet 1.2.2 with NRS 1.1.5 on windows 8.
After startup of the client, I looked at the log:

Code: [Select]
Initializing Nxt server version 1.1.5
2014-06-21 14:56:17 INFO: nxt.enableStackTraces = "true"
2014-06-21 14:56:17 INFO: nxt.enableLogTraceback = "false"
2014-06-21 14:56:17 INFO: logging enabled
2014-06-21 14:56:17 INFO: nxt.dbCacheKB = "0"
2014-06-21 14:56:17 INFO: nxt.isTestnet = "false"
2014-06-21 14:56:17 INFO: nxt.dbUrl = "jdbc:h2:nxt_db/nxt;DB_CLOSE_ON_EXIT=FALSE"
2014-06-21 14:56:17 INFO: nxt.maxDbConnections = "10"
2014-06-21 14:56:17 INFO: nxt.dbLoginTimeout = "70"
2014-06-21 14:56:17 INFO: nxt.dbDefaultLockTimeout = "10"
2014-06-21 14:56:20 INFO: Database update may take a while if needed, current db version 51...
2014-06-21 14:56:20 INFO: nxt.forceValidate = "false"
2014-06-21 14:56:20 INFO: nxt.myPlatform = "PC"
2014-06-21 14:56:20 INFO: nxt.myAddress not defined
2014-06-21 14:56:20 INFO: nxt.peerServerPort = "7874"
2014-06-21 14:56:20 INFO: nxt.shareMyAddress = "true"
2014-06-21 14:56:20 INFO: nxt.myHallmark not defined
2014-06-21 14:56:20 INFO: nxt.wellKnownPeers = "cubie-solar.mjke.de"
2014-06-21 14:56:20 INFO: nxt.knownBlacklistedPeers not defined
2014-06-21 14:56:20 INFO: nxt.maxNumberOfConnectedPublicPeers = "20"

It seems that the settings of nxt.properties are not taken, except the one peer "cubie-solar.mjke.de". I've already tried to change the content of nxt.properties, but no change, maybe "cubie-solar.mjke.de" is hardcoded or is coming from the database. I've also changed nxt-default.properties directly with no luck.

I've searched the harddrive for other install folders, but I have only this one client installed. I've rebooted the pc to get rid of any instances of the java client, but that also didn't change anything.

Please help!  ???

Kennt ihr schon nextblocks.info?

Asset Exchange und Blockchain Explorer, bald auch mit Online-Wallet!

Markübersicht mit Nxt-Rechner in USD und EUR!

Unbedingt mal antesten, es  lohnt sich, auch wenn es noch nicht ganz fertiggestellt ist!  8)

Video über das Nxt Asset Exchange in deutsch:


Ich gebe jedem 100 LOVE Assets gratis, der dort einen Kommentar hinterlässt und etwas Liebe zu Nxt zeigt!  :-*

Nxt General Discussion / Why are so many blocks empty?
« on: May 05, 2014, 06:47:34 am »
I've forged a total of 51 blocks. In the past, some of them were empty and there was no fee reward. As a ballpark estimation, I would say there was a 50/50 chance to forge one with fees.

The last 14 blocks I forged had no transaction in it, so no fees to earn. Can someone explain this? What are these blocks for, where do they come from?


Man sollte unbedingt seinen Nxt-Client auf 1.0.0 aktualisieren, da sonst ab Block 130000 ein "hard fork" (Verzweigung der Blockchain) droht! Wer nicht rechtzeitig updated, wird keine Transaktionen mehr korrekt ausführen können!

Bitte weitersagen  ;)

Trading & Exchanges / [CLOSED] 100'000 NXT for 4.8 BTC
« on: April 26, 2014, 09:44:42 am »
*** deal is done ***

I want to buy 100'000 nxt for 4.5 4.8 btc.

Please PM me if you are interested!

Hashrate.org hat nun schließlich - nach mehreren Wochen Testlauf - die Betaphase abgeschlossen. Als einer der absolut ersten Proof-of-stake-Coin Multipools hat Hashrate schon über 240.000 NXT (ungefähr 15 BTC) an seine Miner ausgezahlt.

Am ersten Wochenende nachdem der Pool live gegangen ist, wird es eine verstärkte Medien- und Werbe-Initiative geben, um so viele Leute wie möglich zu erreichen.

Funktionen, die der Pool bereits bietet:
- Berichte über die Hashrate, Auszahlungshistorie und Profitabilität.
- Historie der Hashraten und Profitabilitäts-Tabellen und -Grafiken.
- Coin und Share Diagramme und Grafiken.
- Split-Server-Infrastruktur um sicherzustellen, dass der Pool mühelos bis mehrere Gigahash Durchsatz skaliert werden kann.
- Rückkehr der "My Worker" Seite.
- Durch eine großzügige Spende aus der Nxt-Gemeinde wird es Boni für teilnehmende Miner geben: 10% Bonus für 10% der Miner (bis der Betrag aufgebraucht ist)!

Funktionen, die noch in Arbeit sind:
- Vollkommene Aufsplittung der Hashrate - dies wird teilweise bis Donnerstag gelöst sein (Details folgen).
- Wir stellen ein: gesucht wird ein/e Vollzeit-Mitarbeiter/in, um Konten in sozialen Medien zu verwalten, sowie ein/e Teilzeit-Administrator/in für den Pool, um bei einigen Verwaltungsaufgaben zu helfen.

Am Donnerstag soll der Livebetrieb aufgenommen werden! Verschiedene Scrypt-, SHA- und X11-Coins können geschürft werden, also ist für jeden CPU-, GPU- und ASIC-Miner etwas dabei.  8)


*** Der Gruppenkauf ist beendet ***

Hallo Leute,

ich organisiere einen Gruppenkauf für NXT gegen einen Superpreis. Der Verkäufer ist mir bekannt, ich habe schon zweimal NXT von ihm gekauft und er hat einen guten Leumund im BTT-Forum. Er hat ein Minimum von 10 BTC pro Handel angesetzt, dafür macht er auch einen guten Preis von 0,000050 BTC/NXT (aktueller Preis auf Dgex/Bter ist 0,000056).

Der Vorteil ist, dass keine Gebühren anfallen und dadurch, dass die NXT nicht über die Börsen gehandelt werden, ist auch kein Absinken des Kurses zu erwarten. Ich nehme übrigens auch keine Gebühren dafür, meine Motivation ist, NXT allgemein zu fördern und speziell im deutschsprachigen Raum bekannter zu machen.

Bei Interesse bitte eine PM an mich senden. Ich kann allerdings nicht sagen, wie lange dieses Angebot gültig ist. Wenn der Verkäufer nicht mehr genug NXT zum Verkauf übrig hat, werden einige leer ausgehen.

Deutsch (German, Swiss, Austrian) / Nxt Video auf deutsch
« on: March 22, 2014, 11:10:28 pm »
Das "What is Nxt" Video gibt es jetzt neben englisch und russisch auch in deutscher Sprache:


Pages: [1]