NXT centralization and client version 0.6.0

[cryptomaniac]

I hope it will not be removed ->
Today nxt client version 0.6.0 was released. And what we see. Old transactions transactions.nxt file is not match exactly and new client says that transactions file incorrect. But old transactions file worked perfect with old client.

What we have is that nextcoin is most centralized cryptocurrency ever been made for now. First and well-known fact is that most of nextcoin concentrated in original stakeholders hands. That is well-known fact. And they pay their price for risk.

But less known fact is that nxt nodes is not decentralized at all. Nxt client receives and believes only to clients with high weight in network. And as PeerExplorer.com creator already said: Would not make a difference, we download the blockchain from the servers with the highest weight. Proof of stack is in NXT proof of stackholder. We are building worlds most advanced centralised payment network.

And I noticed that tendency too. We believe only to most richest nodes in network and that nodes produce blocks and transaction information to all network. If node with 15 millions will provide changed transaction history old other nodes will believe to it. In theory we have all transactions that every node in network should confirm, and that exactly how it is. But that protect only current transaction.

Today client was updated and new client decline old transactions file. And that where nodes with high weight take part. All nextcoin.org forum members recommends just to delete blockchain and transaction files. And re-download them from network. And main joke that I am not really sure that transaction history file is the same exactly. And node with big amount of nxt doesn’t provide us with fixed little bit fixed transaction file. And we believe them, because they have weight. If that issue was not exist today it may take place in future. History is history and always easier to re-download new transactions and blockchain then determine that transactions history is the same.

All weight node receives is depends only from money it has. It has no correlation with real data that node transmitted. You can make hallmark with 100 NXT but weight will be shown from account balance you hallmarked it. Maybe that was that serious problem that was fixed. Or someone decided to provide new little bit fixed transaction history. I don’t know is collusion of original stackholders really exist or not. Or maybe some big guy use as all like kittens.

First of all and it is obvious that hallmark limit should exist. And that is obvious. Network should be decentralised. It is hard to me to write such critical article as I put some money and time in nxt. Fix it, please!
Source with better formatting : http://cryptofuture.wordpress.com/2014/02/06/nxt-centralization-fixed-transactions/

[Come-from-Beyond]

I hope it will not be removed ->
Today nxt client version 0.6.0 was released. And what we see. Old transactions transactions.nxt file is not match exactly and new client says that transactions file incorrect. But old transactions file worked perfect with old client.

What we have is that nextcoin is most centralized cryptocurrency ever been made for now. First and well-known fact is that most of nextcoin concentrated in original stakeholders hands. That is well-known fact. And they pay their price for risk.

But less known fact is that nxt nodes is not decentralized at all. Nxt client receives and believes only to clients with high weight in network. And as PeerExplorer.com creator already said: Would not make a difference, we download the blockchain from the servers with the highest weight. Proof of stack is in NXT proof of stackholder. We are building worlds most advanced centralised payment network.

And I noticed that tendency too. We believe only to most richest nodes in network and that nodes produce blocks and transaction information to all network. If node with 15 millions will provide changed transaction history old other nodes will believe to it. In theory we have all transactions that every node in network should confirm, and that exactly how it is. But that protect only current transaction.

Today client was updated and new client decline old transactions file. And that where nodes with high weight take part. All nextcoin.org forum members recommends just to delete blockchain and transaction files. And re-download them from network. And main joke that I am not really sure that transaction history file is the same exactly. And node with big amount of nxt doesn’t provide us with fixed little bit fixed transaction file. And we believe them, because they have weight. If that issue was not exist today it may take place in future. History is history and always easier to re-download new transactions and blockchain then determine that transactions history is the same.

All weight node receives is depends only from money it has. It has no correlation with real data that node transmitted. You can make hallmark with 100 NXT but weight will be shown from account balance you hallmarked it. Maybe that was that serious problem that was fixed. Or someone decided to provide new little bit fixed transaction history. I don’t know is collusion of original stackholders really exist or not. Or maybe some big guy use as all like kittens.

First of all and it is obvious that hallmark limit should exist. And that is obvious. Network should be decentralised. It is hard to me to write such critical article as I put some money and time in nxt. Fix it, please!
Source with better formatting : http://cryptofuture.wordpress.com/2014/02/06/nxt-centralization-fixed-transactions/

I think it won't be removed. It should stay forever as a good example of nonsense spread by envy trolls. Everyone who reviewed Nxt source code rolls on floor laughing.

[farl4bit]

Good point Cryptomaniac.

I have a lot of faith in Nxt and have my money in it as well as 6 nodes. But it is a good thing to question certain aspects of the Nxt concept. It's not a insult to Nxt, just a request to make it beter

I think it won't be removed. It should stay forever as a good example of nonsense spread by envy trolls. Everyone who reviewed Nxt source code rolls on floor laughing.

Why aren't you openminded and willing to take critic about others? If our own Nxters question the system, the new guys will do so even more. We have to keep innovating and making Nxt better.
Question: What is the problem with limiting hallmarks Come-from-beyond? Is it technical? Just interessted and not trolling. 

[crimi666]

Ask yourself 2 questions!

How is emunie solving this issue... Look it up in the emunie forum....... They dont make even a secret of it like you guys

How is NEM solving this issue... They probably dont even run in this issue because they got more stackholders.

You got your answer to NXT weight system.

The latest and first source is old by the way......

[Come-from-Beyond]

Why aren't you openminded and willing to take critic about others?

None from the article is true. This thread can be closed.

[crimi666]

Come-from-Beyond

What would happen if you limit the hallmark to 10 NXT - 100 NXT - 10 000 NXT or 100 000 NXT ?

[Come-from-Beyond]

Come-from-Beyond

What would happen if you limit the hallmark to 10 NXT - 100 NXT - 10 000 NXT or 100 000 NXT ?

Nothing. U can see it by setting "enableHallmarkProtection" to "false".

[crimi666]

A hallmark helps the network put trust into specific Nxt nodes, relying on them more than other nodes for accurate information on blocks and transactions.

I cant get really my head around that, not every peer on the network is behaving equal to each other. I hope you all understand and not getting upset about me. I think both sides have there arguments.

[Come-from-Beyond]

A hallmark helps the network put trust into specific Nxt nodes, relying on them more than other nodes for accurate information on blocks and transactions.

I cant get really my head around that, not every peer on the network is behaving equal to each other. I hope you all understand and not getting upset about me. I think both sides have there arguments.

I marked with red an incorrect statement.

[crimi666]

Why you put it in here http://wiki.nxtcrypto.org/wiki/FAQ#Advanced:_Hallmarks ? Devs like me just reading the wiki, what else should we do?

I marked it blue.

[Come-from-Beyond]

Why you put it in here http://wiki.nxtcrypto.org/wiki/FAQ#Advanced:_Hallmarks ? Devs like me just reading the wiki, what else should we do?

I've never written on Wiki. Ask the author why he chose such confusing wording.

Rule of dumb: Any sentence that contains "trust" is incorrect.