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Hero MemberActivity: 687Merit: 500 Re: NEM Official Thread - Redemption ends[Updates&Discussion] March 29, 2015, 08:56:03 PM #13562 Quote from: Anon136 on March 29, 2015, 07:27:32 PM So since i own a stake in this thing i guess i may as well understand how the heck it works. Its proof of stake i assume. Does it use deterministic random like nxt or coin age like ppc or something else?



Balance, coin age, incoming and outgoing transactions play a role in calculating the importance. Having the importance the rest is a deterministic random algorithm like nxt. Balance, coin age, incoming and outgoing transactions play a role in calculating the importance. Having the importance the rest is a deterministic random algorithm like nxt. Nothing Else Matters

NEM: NALICE-LGU3IV-Y4DPJK-HYLSSV-YFFWYS-5QPLYE-ZDJJ

NXT: 11095639652683007953

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Hero MemberActivity: 687Merit: 500 Re: NEM Official Thread - Redemption ends[Updates&Discussion] March 29, 2015, 10:10:57 PM #13566 Snapshot in the sense that gimre meant includes transactions. Transactions do play a role and looking at your example probably in most case will not be the same outcome. Nothing Else Matters

NEM: NALICE-LGU3IV-Y4DPJK-HYLSSV-YFFWYS-5QPLYE-ZDJJ

NXT: 11095639652683007953

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Hero MemberActivity: 840Merit: 500Risk taker & Black Swan farmer. Re: NEM Official Thread - Redemption ends[Updates&Discussion] March 29, 2015, 10:39:11 PM

Last edit: March 30, 2015, 02:02:00 PM by xtester #13568 Important News - NEM is launching!







Important Note: Despite best intentions the above mentioned launch date is a tentative one and we reserve the right to change it if any critical issue would arise in the meantime that could endanger the NEM network.



You can also read a complete update on NEM in



P.S. A big thank you goes to our dev team, marketing team and community helpers who have been working hard to get all this ready.



P.S.S. Please don't trust any quotations of this post unless it's made by the original poster or a trusted NEM member.



See you at launch,

The NEM Team The waiting period is finally over. The Nemesis block is now complete, Main Net testing is running as planned and everything else appears to be prepared for launch. Thus, we are very happy to announce the official launch date for NEM: 31 March 2015 - at 19:00 UTC Despite best intentions the above mentioned launch date is a tentative one and we reserve the right to change it if any critical issue would arise in the meantime that could endanger the NEM network.You can also read a complete update on NEM in Newsletter #10 P.S. A big thank you goes to our dev team, marketing team and community helpers who have been working hard to get all this ready.See you at launch,







Anon136



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LegendaryActivity: 1666Merit: 1211 Re: NEM Official Thread - Redemption ends[Updates&Discussion] March 29, 2015, 10:49:11 PM #13572 Quote from: Come-from-Beyond on March 29, 2015, 09:34:45 PM Quote from: BloodyRookie on March 29, 2015, 08:56:03 PM Balance, coin age, incoming and outgoing transactions play a role in calculating the importance. Having the importance the rest is a deterministic random algorithm like nxt.



Litmus test: Does chance of generating a block depend on a snapshot of the system only? (Without taking into account state transitions like transactions.)

Litmus test: Does chance of generating a block depend on a snapshot of the system only? (Without taking into account state transitions like transactions.)

CFB I put some weight in your judgement. You very clearly understood nxt (you were the one who explained it to me) and you understood the reason behind all of its various mechanisms, the attack vectors that it faced, and how it cleverly dealt with them. I really very highly doubt that this "Balance, coin age, incoming and outgoing transactions play a role in calculating the importance." wont be able to be gamed. I'm already imagining the attack vectors in my head. Someone creating a ton of accounts and interacting with himself between his accounts inorder to make his activity appear valid in accordance with the demands of w/e schemes the dev comes up with. What do you think?



*edit* i need to point out that im not saying that the system wont be secure, the extent to which it is proof of stake may provide enough security, the real question is whether all these extra bells and whistles added to the consensus mechanism will actually decrease the security of the network. CFB I put some weight in your judgement. You very clearly understood nxt (you were the one who explained it to me) and you understood the reason behind all of its various mechanisms, the attack vectors that it faced, and how it cleverly dealt with them. I really very highly doubt that this "Balance, coin age, incoming and outgoing transactions play a role in calculating the importance." wont be able to be gamed. I'm already imagining the attack vectors in my head. Someone creating a ton of accounts and interacting with himself between his accounts inorder to make his activity appear valid in accordance with the demands of w/e schemes the dev comes up with. What do you think?*edit* i need to point out that im not saying that the system wont be secure, the extent to which it is proof of stake may provide enough security, the real question is whether all these extra bells and whistles added to the consensus mechanism will actually decrease the security of the network.

If one can not confer upon another a right which he does not himself first possess, by what means does the state derive the right to engage in behaviors from which the public is prohibited? Rep Thread: https://bitcointalk.org/index.php?topic=381041 If one can not confer upon another a right which he does not himself first possess, by what means does the state derive the right to engage in behaviors from which the public is prohibited?