Nexus NXS Mining Pool Calculator
Author: Topic: Nexus - Pure SHA3 + CPU/GPU + nPoS + 15 Active Innovations + More to Come (Read 734962 times).
Money is only a container of energy allowing exchange of value between two parties. Nexus applies a decentralized, mathematically regulated, transparent currency designed for stability and sustainability: The denomination of Nexus is termed The Niro. Decentralization is inherent to success, as centralized points only serve as fail points, as malleable targets to be exploited for the benefit of few. In order for a system to be designed in service of the people, its creation must be forged under like principles. This has been brought forth through history, in its successful implementations of self-governance, of liberty, and the right to sustenance for all life. This right has been circumvented, in which, our only choice is to form a Nexus, to combine our strength as global citizens – and preserve our right to life, freedom, and the pursuit of happiness.
These Connections of Economies, Ideas, People, Computers, and Resources will free humankind. Nexus fosters Freedom, Innovation, and Self Sufficiency and applies these concepts in the following regions of knowledge: Viz. Psychology, Philosophy, Computer Science, Mathematics, and Economics. Nexus Software, LLC supplements The Nexus by developing these concepts to establish an economy that gives power to the people, the citizens: the working force that is the movement of a system. Mining Channels: Each channel reinforces each other to prevent 51% attacks on one channel forcing attacker across multiple channels.
Hashing: SK-1024, SK-576, SK-512, and SK-256 used in all hashing. Pure SHA3 using Skein and Keccak. SK-1024: Using Skein-1024 and Keccak-1600 for GPU PoW to produce a 1024 bit output hash used for the block hash providing the highest security. Prime: Searching for Dense Prime Clusters as CPU PoW, finding these clusters of numbers that are ~308 digits to verify prime density in large numbers.
Keys: 571 Bit Private Keys compared to 256 bit in other currencies. Using NID_sect571r1 as the algorithm. Difficulty: Calculated with time overlaps and true% over bounds, using weighted block average over past 5 blocks.
LLP: Lower Level Protocol as a template protocol to allow any protocol to be created with ease without need for repeated network programming. Core LLP: Protocol responsible for time keeping as an advancement to NTP, keeping clocks on the network synchronized within a few seconds of one another. Maximum clock drift for Nexus is 10 seconds. Mining LLP: Dedicated Mining Protocol outside of JSON-RPC Server to allow the greatest performance for mining. Protocol can handle 5k + connections allowing solo mining of any magnitude.
No Reward Halving: Rewards are calculated along an exponential decay curve to slowly reduce the value of each block rather than shock both miners and the market with block reward halving which acts as a rudimentary decay model. Released Reserves: Decayed Amounts are deposited into the Reserves for each channel, preventing a miner from being able to mint more than the projected amount while difficulty is compensating to their amount of computing power. Fractional Rewards: When reserves are below given thresholds, the mining reward is then based off of the time it took to create a block preventing a miner from ever being able to deplete the reserves. Decentralized Checkpoints: All blocks must root from the most recent checkpoint which is declared by fitting into a timespan. This allows checkpoints to be automatically created every hour, without the need for any master node or checkpoint broadcast. Trust Keys: Interest rate is increased the more a node services the main chain giving incentive to active stakers.
This also increases the cost of an attack for in order to attack with a trust key it requires time to get it to the same threshold. Nexus Proof of Stake: Proof of Stake system based on the Peercoin protocol heavily recoded from the ground up utilizing energy efficiency threshold, trust keys, and logarithmic weights to create the fairest and most stable Proof of Stake system to date. Developer Commission: Built into the protocol levels, gives a small decayed amount to developer addresses every block [~1 Niro] over 10 years amounting to a total of ~2.5% after 10 years, and starting at ~1.5% as a way to bring the benefits of pre-mines, without the risk to investors. This means developer account has no control over the currency as it will never be of a high enough%, but it allows funds to be distributed to development removing need for corruptible foundations such as the Bitcoin Foundation which was spawned to cover developmental costs. PLANNED FUTURE FEATURES Reversible Transactions: Transaction can be reversed if below expiration time by sending transaction void to the network.
Two-Way Signatures: Receiver of transaction will be required to sign to prove ownership of txout before it will be processed. This will prevent burning coins by accident. Trust Network: Using Trust Keys and more sophistication in Checkpoints will create a Trust Network in which nodes will be given the opportunity to vote on checkpoints and blocks to agree on set blockchain. This will prevent a rogue node from trying to manipulate the network. Sync-less Wallets: Using the Trust Network as a backbone and the LLP for the protocol, will allow wallets to remain sync-less by processing transactions in the Trust Network. HTML5 Wallet: Probably coming sooner rather then later, essentially building up a clean simple HTML5 wallet using qt web server.
Will have all the great visuals that HTML5/CSS3 provides. Most likely coming before transaction features to have a cleaner GUI to integrate more functionality into.
Double Spend Protection: Using input locking and checking on reorganizations, can prevent a transaction from ever being able to be overwritten by a longer blockchain after a checkpoint eliminating any threat of 51% attacks. LLL Integration: Once the Library including Static and Dynamic Databases is finished, next will be integrating LLP, LLD, and LLS with possible LLE for encrypted communications and high efficiencies in protocol responses and data storage. Updates Planned for the Full 0.2.1 Release include: 1. Trust Key Penalties to deprecate Trust Key Expiration. Possible Trust Key Reactivation. Push Packets in Mining LLP.
Mining LLP Version 1.1 Update from Pool Server 5. Possible Sequencing of UTXO into larger outputs every X blocks for Developer and Recycler Addresses. Updates Planned for the Full 0.2.2 Release include: 1. LLP Messaging Integration for Better Network Communication 2. More Messaging Commands due to LLP integration allowing Core level Functions to Exist in greater efficiency. Checkpoint Voting for Pending Checkpoint. Auto - re-forking besides just Reorganizations.
Detect when your node is on a fork and automatically resolve. Consensus algorithms by voting with trust key. Updates Planned for the Full 0.3.0 Release include: 1. LLD database integration. Light Blocks due to Memory Pool Synchronization Protocol 3. New protocols for Transaction Processing vs. Block Processing which means breaking Messaging Protocol to more Specialized Systems so Transactions and Blocks and Voting operate on Separate Protocols.
With lighter blocks, it won't be necessary to include full UTXO transaction information in the block, but rather the transaction hash that can verify the Merkle Root while blocks are validated on the block level upon receive, where the Transactions are verified in a separate call and answers on the validity of the block can be seen through the Trust Protocol. This will speed up block propagation through the network. Integrating Miners into Trust Keys giving miners incentive to continue contribution to the Network. Miners will be penalized for less trust which means rewards will be less until full trust is established.
It's funny, as someone who is relatively new to cryptocurrency I was surprised by the amount of deception and greed I've seen with so many of the 'major' currencies. Like a regular stock market, so many were nothing more than quick cash grabs and I fear are mostly hype, marketing, and without facts to back up their claims or promises. I'm looking forward to seeing Nexus continue to evolve and appreciate the friendship and honesty I've been shown by their community since expressing interest in the project. I think their vision is an ambitious, heartfelt, and honest one. Personally for me, the most important thing in life is being good to others and showing compassion even if it's never returned.
When we are all gone someday, it won't be how much money we had or if we made good business decisions. Our legacy will be determined by the others we've chosen to help when they've needed it most, and that is something I believe in and can get behind. It's funny, as someone who is relatively new to cryptocurrency I was surprised by the amount of deception and greed I've seen with so many of the 'major' currencies. Like a regular stock market, so many were nothing more than quick cash grabs and I fear are mostly hype, marketing, and without facts to back up their claims or promises. I'm looking forward to seeing Nexus continue to evolve and appreciate the friendship and honesty I've been shown by their community since expressing interest in the project.
I think their vision is an ambitious, heartfelt, and honest one. Personally for me, the most important thing in life is being good to others and showing compassion even if it's never returned.
When we are all gone someday, it won't be how much money we had or if we made good business decisions. Our legacy will be determined by the others we've chosen to help when they've needed it most, and that is something I believe in and can get behind. Pcsavior2001: 7/13/2016 3:43:08 AM thanks for this great post.
You are not alone with this attitude! VOTED for nexus. Question: I have quite a few karma points in real life - but how to get some karma points in here?;).
The founder of Nexus, Colin Cantrell, is the son of one of the founding members of aerospace company SpaceX, Jim Cantrell. Jim is now the co-founder of Vector Space Systems, a company preparing to launch affordable satellites, approximately twice the size of a Rubik’s Cube, called CubeSats, into space. When I first heard Colin speak about Nexus, it all sounded like English, but there were lots of words and acronyms I could not find in my dictionary. I guess I can forgive him after learning his father is truly a rocket scientist.
Imagine the conversation around the dinner table in that household. Here, after many hours of research, I am going to attempt to decipher Nexus for you, and explain it in terms we can all understand. A few months ago I was researching ways to circumvent the current banking system where every dollar, euro, and ruble is regulated, tracked, taxed and reported.
Nexus first caught my attention when I read the following quote from Colin: “You can’t ask people to boycott a system without offering something for them to use instead.” Providing an alternative to today’s limited financial choices is what the Nexus project promises. Nexus plans to give worldwide access to a monetary store of value which cannot be controlled or compromised by those who feel they should have authority over your money. In addition, Nexus will offer financial security to the billions of people around the world with access to cell phones, but no way to store or spend their money.
That sounds complicated. How will Nexus accomplish this? In simple terms, their plan requires just two necessary components.
First, there must be a completely secure unit of value, both today and in the foreseeable future, which can handle an almost unlimited number of transactions. Second, the source of this unit of value must exist where there is no regulation.
Where Bitcoin, and every other crypto currency, fail to meet either of these requirements, Nexus addresses both. What Is A Dash DASH Mine. This project is revolutionary in scope, yet takes advantage of technology already available today to create the necessary pieces. The first question I asked myself was where this radical idea came from. There have to be other people working on something similar, right?
The answer is no. When Satoshi created Bitcoin, he put parameters in place defining how security worked, how transactions are handled, and how many Bitcoins miners would earn.
All other crypto currencies work within the general confines Satoshi originally defined with minor differences. Colin Cantrell, instead of confining Nexus to these boundaries and jumping right into project development in 2014, spent months learning to think the way Satoshi thought. He asked himself, “If Satoshi were improving the original Bitcoin parameters to create an even more decentralized and secure currency, what would he change?” Discovering the answers to this question helped shape the detailed plan Colin created. The steps in his plan to improve the Bitcoin protocol, along with the progress already made, are summarized in the outline below.
I am going to make the assumption you already know what the Blockchain is. This is not the article to define it for you. You will often see the Blockchain defined as a ‘peer to peer decentralized distributing network’. Since this is a guide for the average Joe, and I recently learned this myself, I just wanted to point out these two are the same. I will use the term Blockchain below, since saying peer to peer decentralized distributing network is like calling a car a ‘mobile self-propelled transporting relocation device.’ The Nexus Blockchain works the same way others work. Miners are using processors to create and place each new block at the end of the current chain. Blocks on the Nexus chain are placed in under 150 seconds, making transactions considerably faster than Bitcoin.
Another way Nexus increases the speed of transactions is by having a multi-threaded balanced messaging protocol, where Bitcoin is single-threaded. You said this was for the average Joe. Sorry, let me explain in terms even I can understand. Imagine your company is in charge of loading boxes onto a train with one hundred empty cars, and you have one forklift. You have to pick up a box, move it to the first car, load it, then go get the box for the second car, load it, etc.
This is an illustration of how data flowing through the single-threaded Bitcoin system works. Why Does ZClassic ZCL Need Miners. Now imagine you have one hundred forklifts, and at the same time they all retrieved their box and each loads one of the cars, so all one hundred were loaded in the same time it took to load one car in the first example.
This is how data flowing through the multi-threaded Nexus system works. Many transactions are processed at the same time. Nexus is going to address one of the most frustrating aspects of crypto currency transfers. If you have attempted to send Bitcoin to an invalid address, or have accidentally sent it to the wrong address, you know there is no way to get it back. Nexus is going have the ability to require a sender and receiver signature.
This means if you send your Nexus to an invalid address, it will not receive a signature, and will be sent back to you. It also means if you realize you sent Nexus to an incorrect address, you will have a definable period of time to cancel the transfer. Lastly, if you are on the receiving side and want to refuse a transfer, you will be able to return it. These are all easy ways Nexus is going to improve on the current Bitcoin parameters. Now I am to the point where I have to attempt to define something difficult Security. If you read the information on the or the, you are sure to see the following definition for Nexus security Hashing: SK-1024, SK-576, SK-512, and SK-256 used in all hashing.
Pure SHA3 using Skein and Keccak. Let me first explain why all of those indecipherable letters and numbers are necessary. The founder of Ethereum, Vitalik Buterin, wrote an article in 2013 detailing the effect quantum computers are going to have on Bitcoin. In the article, Buterin explains how quantum computers are going to make it possible to break Bitcoin security. The technology in quantum computers is so fast and powerful, the incredible hash security designed in 2002 currently utilized by Bitcoin will soon no longer protect transactions from being intercepted, and potentially altered, before the latest block in the Bitcoin chain is agreed upon. Knowing more security is required for the future, let me break down the Nexus security definition. Hashing simply means the security used when encrypting data.
Bitcoin is using SHA2 hashing (security). SHA is an acronym meaning Secure Hash Algorithm. While it is not believed anyone has broken SHA2 hashing yet, the emergence of quantum computers mean it is only a matter of time before it happens. In 2008, NIST, the National Institute of Standards and Technology, started a competition to create another secure alternative hashing standard they would label. In this competition 51 candidates submitted admissions. Four years later, the submission called Keccak was selected as the winner of the competition.
It beat out another highly secure hashing submission called Skein. If you look up again at the Nexus Hashing definition, you will see SHA3 using Skein and Keccak and now you know where those names came from. Nexus incorporates both of these protocols together into its security, and is the first coin to incorporate the new SHA3 standard. Where you see SK-1024 in the definition, this is referring to the combined Skein/Keccak (SK) hash security to produce a 1024 bit output when creating the block.
How can I make that easier to understand? It is really (really) super secure. Nexus uses the SK security standard to produce hashing for each component of its transactions. You may not understand what each of these components are, but here is a list of the different hashing used in the Nexus network. SK-256: Hash to generate an Address from your Public Key Hash. SK-512: Hash for Transaction. SK-576: Hash of Public Keys, which is then hashed with SK256 to generate your Address.
SK-1024: Hash for Block Generation. Used by both the CPU and GPU miners [and Stake Minting] to create new Blocks. In comparison to SK-1024 security standard used by Nexus to create its blocks, Bitcoin is using SHA2, 256 bit output. This makes Nexus four times as secure. Nexus also uses 571 bit private keys, compared to 256 bit keys used in almost all other currencies.
This 571 bit private key is the government recommended standard proposed by NIST and used by the NSA. You may have heard something about a 51% attack, which is the possibility one entity or group has enough power to make the latest block on the chain be from whatever chain they decide is correct. While this has never happened to Bitcoin yet, in 2014 a mining pool called Ghash.io did get up to 50%. This dominance is possible because everyone on the Bitcoin network is casting their vote in the same channel, so if 51% of the votes on the single channel say yes to a particular block, that block is considered ‘agreed upon’ and added to the chain. With Nexus, there are three channels in the network, GPU mining, CPU mining, and Nexus Proof of Stake (nPoS). In order to succeed with a 51% attack on the Nexus network, the attacker would have to control 51% of the votes across all three of the channels. This, along with the SHA3 Skein/Keccak security defined above, ensure it is not currently possible now, or in the foreseeable future, to compromise the security of the Nexus network.
No other coin, even the ones claiming they are the most secure, approaches the level of security built into Nexus. There are other differences as well you can read about on the or on the. These other points are easier to understand, such as the increasing interest up to 3% you earn on your Nexus wallet balance, based on how much trust you build staking on the network. This brings us to the end of the first important feature needed to implement the Nexus project; a completely secure unit of value, both today and in the foreseeable future, which can handle an almost unlimited number of transactions.
To refresh your memory, the second necessary feature is this unit of value must exist where there is no regulation. This is the part that gets me really excited about the project. Look back up and reread the first paragraph of this article again. Do you see any clues there to where an unregulated home for Nexus might be found by Colin Cantrell? If Nexus resides on Earth, it will be subject to the regulations of the governments where it derives from. Have you ever seen a casino boat?
They take their passengers out into the ocean or river channel before anyone is allowed to start gambling, because the laws prohibiting gambling don’t apply away from shore. The Nexus network will be one hundred miles away, straight over our heads. Regulate that! As defined on the Bitcointalk page 'Nexus is actively building relationships within the aerospace industry to allow for the hardware infrastructure to be compatible with its transaction system. Nexus is building the foundation to broadcast the Blockchain and Nexus Network from space. Under existing hardware infrastructure, cryptocurrency is technically under the mercy of telecommunication and government technology industries. Coupled with both the development of software and hardware, Nexus seeks to free men from centralized financial institutions.'
Now you know. Nexus is the most secure crypto currency, led by a brilliant renegade visionary, employing a passionate team of highly skilled people, with the ability to put their ideas into space, all using existing technology.
I can currently buy NXS currency for less than.05 cents. How long do you think that is going to last? - Get access to the developers, and check out the active trading channel for daily discussion on great picks..
The Article Below Was Posted on September 23, 2016. Feel free to link to this article from other sources, but please do not republish without consent from the author.
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