BCarp
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Joined: Fri Oct 02, 2015 3:55 pm

Vanillacoin superpeer rewards. How To!!

Sun Oct 04, 2015 7:02 pm

It has been asked on IRC a few times that someone create a little walkthrough for How to create a node that will collect rewards
and although I am not the most qualified to do this, I decided to give it a try.

most of this information can be found in http://vanillacoin.net/wiki/Technologie ... entives.md
but I will try to make it easier for those who dont want to skip between threads and Forums to understand.

First lets begin by describing reward incentive/ how they work, where they come from, and how to get them.

Reward incentives are basically a taxation on Miners of PoW blocks in VNL that are distributed to VNL users who maintain an open supernode. This begins at a 1% tax(right now) and scales using this algorithm https://gist.github.com/john-connor/967 ... dd0ec1f7a9
as you can see the scaling happens very quickly at first, but slows down over time.
using this algorithm you can decipher how much reward can be mined in this google spreadsheet
https://docs.google.com/spreadsheets/d/ ... edit#gid=0

you can basically consider this a new form of mining Peer Mining it is a simple decentralized method of distributing coins to persons within the project who are helping secure the network by running a full active Node.

Second lets describe collateral.

collateral is used to stop persons from centralizing the system by owning to many Nodes and is discribed as follows: 9999 VNL must be deposited to your Nodes ie: wallets default address in one transaction. this collateral must remain in your wallet to take part in the incentives, but can be withdrawn whenever you feel is necessary just like any other normal withdrawal.

now the bread and butter of How to set up your supernode.

1st) download the Newest Wallet of VNL

2nd) make sure you have openned your port found in either your vanillacoin/config.dat file or use the rpc command "Getinfo" under console and find the statement port "xxxxx" where the xxxxx is the port to open.

youtube has many nice guides and howtos about how this is done just type in port forward and your router type and follow


3rd) after your port has been forwarded close and resatr your wallet. now enter getincentiveinfo in your console
you should see something like

{
"walletaddress":xxxxxxxxxxxxxxxxxxxxxx,
"collateralrequired": 0,
"collateralbalance": 0,
"networkstatus": ok,
"votecandidate": true,
"votescore": -3359
}

this has 0 collateral, because collateral enforcement doesnt begin until block 220000

if it says network status ok
and it says votecandidate true

CONGRATULATIONS!!! you are now PEER MINING

4th) it takes time to become an active full superpeer dont expect rewards right away, soon you will see rewards start showing up in your History>


Good Luck and have FUN!!

vanilladev
Nickel Bitcoiner
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Contact: Website

Re: Vanillacoin superpeer rewards. How To!!

Mon Oct 05, 2015 1:26 am

Reminder to make sure you encrypt and lock you wallet after getincentiveinfo says votecandidate : true. In addition to securing the wallet file this will prevent the collateral from entering into stake. 8-)

Thank you for your support.
John Connor
Vanillacoin
http://vanillacoin.net

vanilladev
Nickel Bitcoiner
Nickel Bitcoiner
Posts: 60
Joined: Wed Sep 30, 2015 2:55 am
Contact: Website

Re: Vanillacoin superpeer rewards. How To!!

Wed Oct 07, 2015 1:26 am

Using the latest hotfixed version your collateral will not enter into stake. 8-)

Thank you for your support.
John Connor
Vanillacoin
http://vanillacoin.net

Mazz
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Nickel Bitcoiner
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Joined: Thu Oct 01, 2015 10:18 pm

Re: Vanillacoin superpeer rewards. How To!!

Sun Oct 18, 2015 10:19 pm

Nice !!!! :mrgreen:

vanilladev
Nickel Bitcoiner
Nickel Bitcoiner
Posts: 60
Joined: Wed Sep 30, 2015 2:55 am
Contact: Website

Re: Vanillacoin superpeer rewards. How To!!

Mon Oct 19, 2015 5:16 am

Nice !!!! :mrgreen:
You'll still need to lock your wallet as this change got reverted in 0.3.8 because it was not reliable. I have a better method for this.

Thank you for your support.
John Connor
Vanillacoin
http://vanillacoin.net

Mazz
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Nickel Bitcoiner
Posts: 17
Joined: Thu Oct 01, 2015 10:18 pm

Re: Vanillacoin superpeer rewards. How To!!

Wed Oct 21, 2015 2:40 am

Any way i feel more safe with my wallets locked.

vanilladev
Nickel Bitcoiner
Nickel Bitcoiner
Posts: 60
Joined: Wed Sep 30, 2015 2:55 am
Contact: Website

Re: Vanillacoin superpeer rewards. How To!!

Thu Oct 22, 2015 1:22 am

Any way i feel more safe with my wallets locked.
Agreed.

Thank you for your support.
John Connor
Vanillacoin
http://vanillacoin.net

vanilladev
Nickel Bitcoiner
Nickel Bitcoiner
Posts: 60
Joined: Wed Sep 30, 2015 2:55 am
Contact: Website

Re: Vanillacoin superpeer rewards. How To!!

Mon Nov 16, 2015 10:34 pm

Make sure you pay close attention to the minimum node requirements if you intend to use a VM/VPS. 8-)

http://vanillacoin.net/wiki/Technologie ... entives.md

Thank you for your support.
John Connor
Vanillacoin
http://vanillacoin.net

fible1
Posts: 3
Joined: Sun Nov 01, 2015 10:07 pm

Re: Vanillacoin superpeer rewards. How To!!

Sun Jan 03, 2016 12:53 am

John,
Do you think that we could have a way to start super peer from cold/cool storage as opposed to have to do everything on the same computer? There should be a way to sign a request on an offline comp and start a node on hot computer.

This is one of the key issues I have with the coin at this point as I don't feel confident in putting my coins in an online computer, but I also want to stake so its no-win.

Pablo.

vanilladev
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Nickel Bitcoiner
Posts: 60
Joined: Wed Sep 30, 2015 2:55 am
Contact: Website

Re: Vanillacoin superpeer rewards. How To!!

Mon Jan 04, 2016 2:03 am

John,
Do you think that we could have a way to start super peer from cold/cool storage as opposed to have to do everything on the same computer? There should be a way to sign a request on an offline comp and start a node on hot computer.

This is one of the key issues I have with the coin at this point as I don't feel confident in putting my coins in an online computer, but I also want to stake so its no-win.

Pablo.
That is how the Dash Masternode system works (remote controlled nodes) and it requires manual intervention and technical knowhow out-of-the-gate. The Vanilla node incentives instead is meant to improve decentralisation by being autonomous (you don't need to "setup" anything to get a reward) for being a public node. That said, it removes a bulk of incentive nodes out of centralised data-centers into peoples homes, etc and spreads them out. I believe ~60% of the Dash network is hosted on a single VPS provider, therefore it has a single point of failure for a majority of the network. That said, if you have an encrypted wallet, firewall and strong OS credentials you're operating as safe as any other critical system on the internet. You can Stake and earn incentive rewards at the same time as long as you rotate your collateral deposit. 8-)
John Connor
Vanillacoin
http://vanillacoin.net

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