It’s forging time, Nxters!

Why now?

You want to make your stake active in a Nxt pool before the public launch of Nxt Asset Exchange.

The AE goes live with a 1000 NXT fee per asset issued, and all fees go to forgers. Consider this a startup bonus or just the beginning of better times for Nxt forgers, as fees will increase with the number of arbitrary messages, AE-transactions+issuers and future features that are being built on top of Nxt.

No matter the size of your stake you should forge or lease your forging rights to a Nxt pool. The leasing feature is quite new so you may not be aware that it takes 1440 blocks (24 hours) from you hit the “lease”-button until  your NXT-stake is actively forging in the account/pool that you lease it to. With only about 36 hours to the public launch of Nxt Asset Exchange, the time to lease is now, if you want to be forging in a pool when the first IPO’s begin.

Did I mention that by forging you help secure the Nxt Network from attacks and thereby protects your stake?

What’s it like?

forkedchain:

Leasing your balance is of no risk to you. When leasing, you still maintain full control of your NXT – the pool simply receives your “effectiveBalance” which is 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.

You have to trust the pool to distribute your share to you, as the forging fee stays with the pool.
This will be relevant until the launch of Nxt Automated Transactions.

You choose the length of the lease. Max leasing period allowed is 32767 blocks (1 minute block time).

If you want to leave the pool before the expiration time you’ve set, just transfer your NXT to another account. Forging rights are then transferred to this account. A balance of 0 NXT stays with the pool until the leasing period ends.

How to do leased forging

Nxtwallet

(1-click-to-install Nxt client. Download: http://nxtra.org/nxt-wallet/)

Install NxtWallet and run it (+ wait for it to catch up with the blockchain)

waiting

Sign in to your account.

login

Click “more info” on the square showing your account balance

lease1
Click the “Account Leasing” tab

lease2
Click “lease your balance to another account”

lease4
Insert the account you wish to lease your balance to.

Set for how long under “period” (it’s expressed in blocks: 1440 blocks = 24h, max period is 32767).

Put in your secret phrase.

lease3

Click “Lease Balance” button.

Where are the pools?

In this day, in this very hour, 2 pools are known accept leases.

Nxtcrypto.org

NXTCrypto.org forging pool (by forkedchain)

JPool

JPool forging pool (by Jimmy2011)

This may change tomorrow or next week. Check the list in our wiki to stay updated: https://wiki.nxtcrypto.org/wiki/Forging_Pool#List_of_forging_pools .

Appreciate these tips?
Tip me back @ 196910366798475802 / NXT-UWJU-XXST-3MPQ-2JWG7

apenzl
Come get me

apenzl

Arthur founded NXTER.ORG in December 2013 and started writing Nxt newsletters to the Nxt community.

Managed the development and implementation of Nxt's visual brand in 2014, with web design bureau Ideenfrische.

Issued the NXTP asset in 2014, a profit sharing asset given to early contributors to Nxter.org that helped turn the site into a magazine, publishing news and articles in several languages, and running faucets, contests and social media campaigns for Nxt. ESMA based a report on Nxter.org's coverage of the Nxt AE in 2015.

Arthur is still one of the driving forces behind Nxter.org. He compiled the acclaimed book about Nxt 'SNAPSHOT', which got published in early 2017.
apenzl
Come get me

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