egalodon has come forward with The Forging Bootstrapper initiative;
an account holding 5M NXT, which will be distributed randomly among Nxters forging to help run and secure the Nxt network. The Forging Bootstrapper wants to make it more profitable to forge and run nodes, and thereby build a stronger decentralised Nxt / Ardor network.
‘Forging’ is Nxt’s equivalent to PoW mining. Nxt mining uses a deterministic lottery that grants the right to mine (forge) the next block. With a minimum balance of 1000NXT you are eligible to win the lottery, and thereby earn all the fees inside the blocks you produce. The winning ticket is picked at random, but if you buy several tickets you multiply your chances of winning. Your probability of winning is the number of tickets you bought divided by the total number of tickets sold to everyone participating in the lottery. The probability of winning the forging contest is your NXT balance divided by the total balance of NXT forging throughout the network.
Forging Bounty Lottery campaign managed by Forging Bootstrapper account NXT-HH9F-JMRB-6HRD-HD5ZW is designed to reward active forgers. Transactions with exceptionally high fees will be sent randomly (but not frequently) from the start of Ardor snapshot until the account balance is zero. The lottery is skewed in favour of accounts with smaller forging power. Mining pools are also eligible for this campaign. To increase your chances in the lottery, please identify yourselves here. Thank you.
This campaign is managed such that it is expected to run for some time after Ardor chain is live. Ardor tokens distributed to this account will be rewarded to Ardor forgers while the remaining NXT will continue to be rewarded to Nxt 1.0 forgers even after Ardor is launched.
Some large accounts have opted out of this campaign. Please note that “Lottery Transactions” may accidentally be forged by opt-out accounts due to the non-100% certainty of forging order.
No matter the size of your stake you should forge, either by yourself or by leasing your account balance to a Nxt forging pool. Leasing your balance is of no risk to you. When leasing, you maintain full control of your NXT – the pool simply receives your “effectiveBalance” which is your current forging power. The pool cannot do anything with your NXT account or balance. When you sell/buy NXT during an active lease, what happens is your contribution to the pool is automatically adjusted in the NXT protocol.
You can forge if you’ve had more than 1000NXT in your account for more than 1440 blocks.
All you have to do to forge is start your NXT client, log in with your private key and it will begin forging. There will be a green forging indicator. You forge when you are online.
With the leasing feature it also takes 1440 blocks (24 hours) from you hitting the “lease”-button until your NXT-stake is actively forging in the account/pool that you lease it to. If you’re often offline, leasing your forging rights to a pool may be a good idea, as forging pools are often forging 24/7 365.
How do I lease my forging balance?
Start your Nxt Client, log in with your passphrase.
- Click your account balance.
- Click the “Account Leasing” tab.
- Click “lease your balance to another account”.
- Insert the account you wish to lease your balance to.
- Set for how long you want to lease your balance under “period” (it’s expressed in blocks: 1440 blocks = 24h). Default is set to max; 65535, a lease of 65535 blocks is about 46 days.
- Put in your secret phrase.
- Click “Lease Balance” button (it costs you 1 NXT to lease your balance).
If you want to leave the pool before the expiration time you’ve set, you can transfer your NXT to another account under your control, forging rights are then transferred to this account. If you transfer the full balance, a balance of 0 NXT will stay with the pool until the leasing period ends.
Who can I lease to – what are my options?
You can lease your balance to a forging pool that:
– pays out all of your forged fees to you or
– donates your forged fees to projects that they select or
– keeps the NXT forged (you personally want to support with your forging fees).
You have to trust the pool to distribute your share to you, as the forging fee stays with the pool.
Nxt forging pool which has been running since May, 2014.
Forum thread: https://nxtforum.org/general-discussion/nxtcrypto-org-leased-forging-pool-only-fees-are-1nxt-to-withdraw/
Pool address: NXT-K5KL-23DJ-3XLK-22222
Pool status: http://126.96.36.199/status.php
Pool earnings: http://188.8.131.52/confirmedearnings.php
Lease fee: 1 NXT. Payout request: done via arbitrary messages, send a message (the content is not important) to request a payout, 1 NXT. Payout transfer: 1 NXT. Distribution: proportional to the forging power.
Pool alias: Nxthub1
Pool address: NXT-NYJW-6M4F-6LG2-76FR5
By leasing your balance to alias nxthub1 (acct NXT-NYJW-6M4F-6LG2-76FR5) you support the Nxt network PLUS our work.
Leasing fee is 1 NXT. The NXT’s forged by the pool are donated to the promotion of the Nxt and Ardor Platforms.
Click on your balance in the Nxt Client
> Click Account Leasing
> Click Lease your balance to another account
> Enter account ID or account alias (nxthub1). Choose max period (default).
“Lucky Node” lottery
Now with this lottery you can ‘mine’ coins running a public node on your computer. I think it’s important to reward 0 weight nodes of newbies who set up their first node and want to earn some coins. You get bonus coins for:
* hallmarking your node and having weight>0;
* open API
* open API_SSL
* running an archival node
A random number of NXT coins will be sent every 2 hours to a random node.
To participate in the lottery you must put your NXT address in the nxt.myPlatform property, into the nxt/conf/nxt.properties file.
For OpenAPI configuration you must have these set:
optionally increase the value of nxt.maxNumberOfInboundConnections to make your node more available to peers and increase your odds:
and finally restart your node for configuration changes to take effect.
Optionally hallmark your node to get extra bonus for weight>0 on top of lottery prize.
Restart your node for configuration changes to take effect.
NXT-8F28-EDVE-LPPX-HY4E7 is my address from where coins will be sent, don’t put it in myPlatform property. I’ve funded it with a small amount. When it runs out, I hope a whale can contribute little amounts from time to time to keep this lottery going.
As this lottery falls within the overall objectives of the Forging Bounty Lottery campaign, it will be supported via donations from Forging Bootstrapper account NXT-HH9F-JMRB-6HRD-HD5ZW. (To receive rewards from both, you need to run a public node AND forge).
How to run a Nxt node
You can run a Nxt node from your home.
Instructions for setting up your node on a Raspberry Pi can be found in this tutorial: http://test.nxter.org/how-to-set-up-a-nxt-node-on-a-raspberry-pi-2/
If you want to set up a node on a VPS (free or paid) or a dedicated server but don’t know how to, emoneyRu will set it up and maintain it for you for free. You can contact him here: https://nxtforum.org/public-nodes-vpss/emoneyru-will-for-free-manage-you-vpss-for-you/
But if you want to DIY, here’s a tutorial:
Hallmark and earn NSC (Nxt Security Coins)
There are additional rewards to get if you hallmark your node.
A hallmark is a stamp of approval for a Nxt node. By creating a digital signature based on your IP address and secret passphrase, you are verifying that your account ‘owns’ a node and is accountable for it. This helps protect the network from attack, and increases the network’s trust in your node.
As well as receiving extra rewards from the “Lucky Node” lottery by hallmarking your node you will also earn NSC (Nxt Security Coins), a reward coin based on the Nxt Monetary System and created to promote growth and security of the Nxt network. NSC coins can be sold for NXT in the MS Exchange booth.
MS NSC distribution for hallmarked nodes
– Minimum NRS version : latest and second to latest main release + latest experimental release if presented
– Our node must have seen your hallmarked node, please make sure you have these node in your config “nxt.wellKnownPeers=nsc.nxt.org”
– You can check where your node is active or not: http://nsc.nxt.org:7876/nxt?requestType=getPeers&active=true
– Hallmark check is performed many times per day to ensure we capture as many hallmarks as possible. Captured Hallmarked nodes are saved into a database for use during the fortnight distribution. You can see them here: http://nsc.nxt.org/
– The distribution takes place fortnightly.
– How much MS NSC you earn* depends on the stake you have in the NXT community!
– less than 1000 NXT: 0.02 NSC per day per node (for the small stake holders/ node owners)
– 1000 – 9999 NXT: 0.5 NSC per day per node (normal)
– greater than 9999 NXT: 3.5 NSC per day per node (more trusted nodes)
* Please note, that NSC will be sent every 2 weeks with the bottom line of 20 NSC (to reduce fees). If you’ve earned lower than 20 NSC, they will be transferred to the next 2 weeks’ round.
EmoneyRu can manage your VPSs, for free: https://nxtforum.org/public-nodes-vpss/emoneyru-will-for-free-manage-you-vpss-for-you/
The value of an NSC coin is decided by the community (hint: please help by submitting buy offers on Nxt Monetary System Exchange Booth and/or not selling all of the NSC that you are distributed)! The issuers will never sell issued coins!
This long-running campaign managed by abtc and EmoneyRu using the Monetary System coin NSC exclusively reward hallmarked nodes. Forging Bootstrapper account NXT-HH9F-JMRB-6HRD-HD5ZW will also be supporting this campaign by putting up occasional buy offers that are significantly higher than existing offers.
To benefit from all 3 campaigns, you’ll need to run a public node AND hallmark it AND forge with your NXT balance.