ChuckOne



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☕ NXT-4BTE-8Y4K-CDS2-6TB82







Sr. MemberActivity: 364Merit: 250☕ NXT-4BTE-8Y4K-CDS2-6TB82 Re: NXT :: descendant of Bitcoin - Updated Information February 24, 2014, 08:15:55 PM #37153 Quote from: BrianNowhere on February 24, 2014, 08:03:01 PM Quote from: ChuckOne on February 24, 2014, 07:22:22 PM Quote from: BrianNowhere on February 24, 2014, 07:16:50 PM Quote from: ChuckOne on February 24, 2014, 05:17:57 PM Quote from: abctc on February 24, 2014, 07:40:35 AM Quote from: pandaisftw on February 24, 2014, 07:37:39 AM IMO, forging is fine. In the future, there will be supernodes (service providers) that are basically be high-bandwidth pools people can lend their stake to. This won't be a problem of centralization, because NXT is resistant even against 90% attacks. So unless 1 single pool gets that much forging power, we will be fine. These high-bandwidth pools can support 1000+ TPS easily.

- agree.

- agree.

I disagree. Many nodes are important to support the network. It the 'decentralized' part. Few supernodes can easily be shutdown.

I disagree. Many nodes are important to support the network. It the 'decentralized' part. Few supernodes can easily be shutdown.

This might be a stupid idea, but what if part of all transaction fees went to a huge stockpile somewhere that was given out once a month randomly to someone who is forging. Then the incentive to run an open client would be the chance to win the 'Nxt lottery' that month. I know I'd be hard pressed to shut down my client and throw away my 'lottery ticket'.

This might be a stupid idea, but what if part of all transaction fees went to a huge stockpile somewhere that was given out once a month randomly to someone who is forging. Then the incentive to run an open client would be the chance to win the 'Nxt lottery' that month. I know I'd be hard pressed to shut down my client and throw away my 'lottery ticket'.

Err, am I not sure I completely understand that incentive architecture. Could you rephrase it?

Err, am I not sure I completely understand that incentive architecture. Could you rephrase it?



Basically, every time there's a transaction in the network, a fraction of the fee would be sent to a designated NXT account. If there's a lot of transactions this would add up to a nice amount over 30 days or so. Basically this would be awarded like a lottery every month to a random Nxter who ran an open client that month. The question is whether there's any way to verify if someone had been forging during the time period to be eligible. Maybe the reward would go out on a random day/time so that no one would know when it's coming and therefore be motivated to always be running an open client.



I'm just trying to think of ways to motivate people to forge when there's not much incentive to do so if you don't have a lot of stake.

This system would make forging akin to owning a lottery ticket. The odds would be somewhat low to win, but reward high enough to encourage participitation.

Basically, every time there's a transaction in the network, a fraction of the fee would be sent to a designated NXT account. If there's a lot of transactions this would add up to a nice amount over 30 days or so. Basically this would be awarded like a lottery every month to a random Nxter who ran an open client that month. The question is whether there's any way to verify if someone had been forging during the time period to be eligible. Maybe the reward would go out on a random day/time so that no one would know when it's coming and therefore be motivated to always be running an open client.I'm just trying to think of ways to motivate people to forge when there's not much incentive to do so if you don't have a lot of stake.This system would make forging akin to owning a lottery ticket. The odds would be somewhat low to win, but reward high enough to encourage participitation.

Interesting. Let's develop that further.



How could nodes agree on which node has won the lottery?



If that could be solved, the lottery ticket should depend on how long a specific node was online. Here arises the question 'how can other nodes be sure that a specific node has been online this month?' Interesting. Let's develop that further.How could nodes agree on which node has won the lottery?If that could be solved, the lottery ticket should depend on how long a specific node was online. Here arises the question 'how can other nodes be sure that a specific node has been online this month?'