Welcome to NetFlowCoin, creating a distributed value network for human society. In the past, we are honored to receive your support and affection. Netflowcoin is committed to working with the community to find more and newer decentralized market opportunities.
Now, in order to enrich the NetFlowCoin community, we are launching a one-month content competition.
Step 4: Post on any social media platform, make the post public, and fill out the form using the post link:Google Forms
Quality of content
Presentation methods and video/picture quality
Community interaction (total views/likes/shares)
Content must be NetFlowCoin focused
The title must contain the following topic tag: # NetFlowCoin
Please do not submit the same content twice, the same content will only be awarded once.
NetFlowCoin will select the Top winners based on content and community interaction and offer the following prizes:
first place：200 NFC
Second place: 150 NFC
Third place: 100 NFC
№1.： 100 NFC
1–5NFC per sticker
Total bonus pool: 300NFC
In addition, NetFlowCoin will invite the most promising participants to become our NetFlowCoin community ambassadors.
Note: NetFlowCoin will announce winners in all categories within 14 business days of the contest.
The goal of NetFlowCoin is to build a brand new global network communication service and application service platform jointly built and shared by producers/consumers by integrating SDN/SDVN and blockchain technology. It provides direct, simple, low cost, high performance basic communication services and various value-added service markets for service providers and consumers, such as enterprises and individuals. — — — — — — — — — — — — — — — — — — — — — — — — — 📍 Website: https://www.netflowcoin.io/ 🕊️ Twitter: https://twitter.com/NetFlowCoin_io 📰 Telegram: https://t.me/NetFlowCoinCommunity
To bridge the on-chain and off-chain worlds more effectively, NetFlowCoin has a unique consensus mechanism and economic model that allows all participants to be consistently rewarded for their efforts, meanwhile, rewards nodes for maintaining the network and serving users relative to their static and dynamic work.
Currently, the vast majority of blockchains use an approach that rewards tokens to block producers, stimulating continuous block mining and ledger consistency protection. The main reason for this approach is that chains only serve a separate ‘on-chain world’ and do not consider how to better interface with and adapt to the real world. This is matched by the fact that chains other than filecoin have a consensus that only relates to the blocks generation.
NetFlowCoin’s token are very different from the current blockchains (and arguably the 1.0 and 2.0 versions of blockchains). In addition to being rewarded for the production of blocks on the chain, NetFlowCoin also has a value conversion token in line with real-world services on the chain, i.e. a PoF that allows real services to be converted into digital assets on the chain in the form of flow: the token.
The NetFlowCoin token system is therefore unique, both in terms of the determination of the token and the actual work it corresponds to. However, it is also the uniqueness of the token system that increases the availability of the NetFlowCoin network to nodes and users, ensures the operability of the on-chain and off-chain connectivity, and maintains the long-term health of the network as a whole.
1 NetFlowCoin’s unique reward mechanism
The NetFlowCoin consensus is divided into two types of consensus: PoS and PoF, based on which there are three production methods and token mechanisms: blocks generation, flow and bandwidth. Each reward mechanism has its own uniqueness and corresponds to different functions and needs, and the way it is calculated differs.
1.1 Block reward
Block reward is to encourage nodes to work hard to maintain the stability and continuous operation of the blockchain system.
NetFlowCoin’s block award is based on time decay, and the total amount will be halved in 6 years. The number of block reward is constantly decreasing year by year, but the number of blocks each year is constant.
The reward quantity of each block is calculated as follows:
in the nth year, witness the number of fixed NFC rewards for packaging a block.
l n≥1, pass a year, n+1
is the total number of block rewards
is the number of blocks every year (produced a block every 10 seconds
Through the formula, the change of the number of block rewards can be drawn, and the block reward is fixed per year, but it is continuously reduced as time.
Block reward attenuation curve
1.2 Flow reward
Flow rewards are to motivate the SDN / SDVN node to provide users with services and maintain the entire ecological diversity.
NetFlowCoin flow rewards are based on total flow attenuation, and the NFC outputted by 1 EB flow will be reduced, and the converted flow into NFC needs to increase as EB increases.
The first step, when the nth EB is calculated, the conversion of flow to NFC ratio:
is the Nth EB, the conversion of flow to NFC rate, that is, the number of flow GB required for each NFC, unit: GB / NFC
The conversion of flow to NFC rate increment curve
For flow rewards, the most important factor is that the conversion of flow to NFC rate, that is,
,which determines that the same flow rate can be converted to the NFC that can be converted under different EB total flow. And the rate is increasing with the increasing total flow, which means that the NFC output from the same flow rate is constantly decreasing.
In the second step, when the nth EB is calculated, NFC exchanged by the flow (ie. flow reward):
is the nth EB, the number of NFC rewards available when the F GB is generated.
Is the Nth EB, the flow is generated by the flow node, the unit: GB
1.3 Bandwidth reward
Bandwidth Reward is to provide high availability and high-performance nodes for the SDN / SDVN network.
NetFlowCoin’s bandwidth reward is based on time attenuation, and the total amount of total is reduced by 6 years. The amount of bandwidth incentives per year is constantly decreased year by year, but the number of outbound blocks is constant.
The release of bandwidth rewards is once a day, and the reward is allocated in all nodes that meet the bandwidth requirements.
The first step is to calculate the number of bandwidth rewards per day:
is the nth year, the number of NFCs used for reward bandwidth every day
is the nth year, the number of NFC accumulated by bandwidth rewards
l 365 days = 1 year
Block reward attenuation curv
Bandwidth rewards are also fixed per year, but over time is constantly decreasing.
The second step is to calculate the total bandwidth reward available for allocation in each interval
is the number of NFCs used to reward bandwidth in interval s every day in the nth year
is the bandwidth reward allocation proportion corresponding to interval s
In the third step is to calculate the qualified node valid bandwidth
is effective bandwidth for nodes in the tth day, unit: MBPS
is declaring bandwidth for node pledge, unit: mbps
is the bandwidth line type metering parameters，0＜
is the actual bandwidth meter parameters, 0≤
is offline detection, measurement parameters，0≤
The fourth step is the bandwidth reward through calculating the node
Judge the interval of the node according to its bandwidth and participate in the reward allocation of the interval
Is the number of bandwidth reward NFCs that a node can obtain on day t of the nth year
is the sum of the effective bandwidth of the interval s on day t
For nodes that expect to get bandwidth rewards, it is not only necessary to ensure that the static bandwidth of its access SDN / SDVN network meets the requirements, but also needs to ensure the stability and high availability of 7 * 24 hours of service capabilities.
1.4 Reward release mechanism
Production nodes (including block nodes and flow nodes) obtained by the production node (including block out reward, bandwidth reward and flow reward) after completing the corresponding work need to implement the pledge rule of locking the position for 30 days and then releasing it for 180 days.
It not only realizes the concept of “everyone participates, everyone benefits”, but also provides a diverse choice for node access ecology. NetFlowCoin rewards decrease with time (the accumulation of flow is also dependent on the passage of time). On the one hand, this attracts more participants in the early stages of the ecology, which we know is always the most difficult; on the other hand, as the ecology and network potential grows, the number of token per unit of work decreases. This allows the value of the network to increase while reducing the risk of the pass being circulated too quickly and maintaining the value of the token.
NetFlowCoin can realize the following goals with the global community with the reward of block, flow and bandwidth.
Mature and powerful SDN / SDVN network
Higher performance and expansion consensus evidence
More abundant application ecology
Finally reach the concept of “everyone participates, everyone benefits”.
“Consensus refers to a community solution to a statement which is accepted (even though sometimes it is only reluctantly accepted or put aside ) by the parties when they have different views.” — — Wikipedia
Because each node is dispersed in a decentralized blockchain world, a mechanism is needed to maintain the operation and fairness of the whole system, unify the ledger data on the chain, which can also reward users who provide resources to maintain the blockchain, and punish malicious offenders. These systems need to be proved by some system, at the same time, they should be unanimously recognized by all nodes. In addition to cryptography technology, the consensus mechanism is also a necessary element and core part of the blockchain and the key to ensure the continuous operation of the blockchain system.
In a nutshell, whoever work should be rewarded and no matter who endangers the system should be punished, which is the consensus mechanism in the blockchain world.
The main work of the consensus mechanism is:
lTo maintain the operation sequence and fairness of the system
To maintain the stable operation of the system through reward and punishment
1. Main consensus at present
In the blockchain world, the following mechanisms are the most widely used consensus mechanisms:
PoW (Proof of work mechanism)
As the first generation of consensus proof mechanism, PoW is the infrastructure of bitcoin and Ethereum. PoW is a perfect example of the distribution mechanism according to work. The greater the computing power, the more you get. However, a lot of electric energy consumption and low efficiency are the biggest disadvantages of PoW .
PoS is a mechanism that selects validators and obtains rewards by the rights and interests of the number of tokens held by users. Using this model, the original computing power producers are replaced by the stakeholders in the chain. Whoever has greater rights and interests will have greater block generation right. When PoS is adopted, computational power comparison is not required, which doesn’t waste a lot of resources and the time (performance) to form a consensus will greatly exceed that of PoW. An important work of Ethereum 2.0 is to transfer the PoW consensus to the PoS consensus.
DPoS (Delegated Proof of Stake)
DPoS is similar to a joint-stock company. A certain number of verifiers, who are to be responsible for producing blocks and maintaining networks, are elected by voting. The income of the verifiers will also be distributed among its supporters according to a certain proportion. If DPoS is adopted, it will consume less energy and will be more efficient, but the enthusiasm for voting is very low. On the contrary, it is more prone to “centralization” of rights.
2 NetFlowCoin’s Proof of Work
2.1 Consensus of testnet 1.0
For NetFlowCoin, which is expected to connect on-chain and off-chain, the dual consensus mechanism of DPoS (Delegated Proof of Stake) + PoVF (effective flow consensus) is adopted to meet the dual needs of network maintenance and business rewards from the perspective of performance and actual business in its test network version 1.0.
However, after a period of observation, it was found that consensus is still insufficient in terms of operability, fairness and incentive coverage. Therefore, after careful consideration and multi-party demonstrations and exchanges, a major innovation to the existing consensus of the test network will be made according to the decision of the project party in order to help the final implementation of the project vision.
2.2 New NetFlowCoin consensus
The new NetFlowCoin is still designed based on flow, value conversion medium, whose characteristic is non-attribute, the full participation of flow and high adaptability in the traditional “customer-network-service” model.
The consensus of NetFlowCoin can be divided into Proof of Stake (PoS) and Proof of Flow (PoF).
PoS (Proof of Staked)
The PoS on the chain proves that by selecting witness nodes based on a specific algorithm among all candidate nodes, the transaction bookkeeping and block generation work can be completed.
PoF (Proof of Flow)
It helps roof of work mechanism, which combines the mechanisms based on static bandwidth support and dynamic flow work, completes the work proof the off-chain services which are digitized to realize its on-chain value in the form of flow. PoF covers two aspects of consensus, including static resource capabilities (bandwidth support) and dynamic service work (flow service).
2.3 NetFlowCoin PoS consensus mechanism
NetFlowCoin PoS, an original improvement from the traditional PoS protocol, presets four candidate node pools with different winning ratios (multi-house system). In each round of witness node elections, a corresponding number of nodes are selected from the four pools according to the equity algorithm to grant block generation rights (i.e. witness nodes). Meanwhile, it ensures that the block rights will not be completely controlled by some fixed nodes in combination with the rewards reduction algorithm.
2.3.1 Block generation pledge
For the nodes that hope to participate in the block generation, the opportunity to finalize blocks can only be obtained after they complete the pledge on the chain before they can enter the pre-candidate pool. The purpose of pledge is to maintain network security and ensure that participants will provide relevant services in a manner that conforms to the network’s code of conduct, otherwise they will be punished (for example, part of the pledge will be confiscated).
The market demand for trust (no one will take the initiative to do something harmful to their own vital interests) will be reduced by Pledge, and the opportunity to promote the paradigm shift of market value accumulation can be held. At the same time, the huge value originally seized by intermediaries to service providers in the chain can be fairly distributed. Making use of cryptography technology and behavioral economics, the blockchain system can operate self sustainably, so that everyone can participate in it and maintain their privacy at the same time.
2.3.2 Node pool
There are three node pools in the PoS consensus:
Pre-candidate pool: all nodes pledged with the required number can enter the pool, and only the nodes in the pool have the opportunity to become candidate nodes. There is no limit to the number of nodes in the pool.
Candidate node pool: a certain number of nodes will be selected to enter the candidate node pool according to the node assets in the pre-candidate pool. The candidate node pool can be divided into four intervals, in which different intervals have different node rights and interests and the number of successful witness nodes. The greater the rights and interests, the higher the interval, and the greater the probability of winning. The number of candidate node pools and each interval is limited.
Number of witness nodes: after consensus algorithm, 21 witness nodes are selected from the four intervals of candidate nodes, who are responsible for the bookkeeping and packaging of this block generation round. The witness nodes of each cycle in each block round are randomly out of order to avoid attack.
2.3.3 Block round, block cycle and block interval
We take very 7 days as a block round; each block interval (called block slot) is 10 seconds, and each block cycle is 21 nodes to complete a block operation in turn (i.e. 21 block slots, 210 seconds).
Random sorting is adopted for the block queue of witness nodes in order to avoid malicious attacks.
At the beginning of the second round of block, the assets of the pre-candidate nodes will be counted by the consensus protocol and then they will be filled into each interval of the candidate node pool, after which 21 nodes will be selected from the candidate interval to enter the witness node pool.
2.3.4 Election process and block generation
Netflowcoin POS consensus will select a corresponding number of witness nodes in each block generation round; and due to the random block cycle, each witness node can only complete block packaging in its own block slot.
2.3.5 Rotation, incentive and punishment of witness nodes
Rotation is very important to ensure the POS consensus, which avoids the concentration of power and interests and the rigidity of stratum. Rotation can also be divided into two levels:
Replacement of witness nodes in the block round
Because a certain witness node cannot complete the block process at the block interval due to offline, downtime and other reasons, which will reduce the throughput of the whole blockchain system, a trust score mechanism is established in the POS consensus. When for a node the score is lower than the trust score, it will be filled by an unselected candidate node, so as to ensure the smooth block process.
witness node rotation of block round election
In the election process of each block round, the reward reduction and weighting algorithm will ensure that the block right will not be maintained by some nodes with too high rights and interests, so as to complete the rotation of candidate nodes as witness nodes.
In the decentralized blockchain system, good reward is essential in order to make the system more efficient and autonomous. Like the PoW and DPoS consensus mechanisms, under the NetFlowCoin PoS consensus mechanism, nodes producing blocks can also obtain token rewards to encourage them to verify transactions and produce blocks, so as to maintain the blockchain network.
The witness node that endangers the stability of the chain due to error or malicious behavior will be punished accordingly to standardize the node behavior.
2.3.6 Pos consensus advantages
Multi-house system (candidate node pool)
The multi-house model disperses the block generation right, which not only ensures that nodes with a large number of pledges have more block generation opportunities, but also enables nodes with a small number of pledges to obtain a certain block generation probability, so as to avoid the problems of rigid consensus and class solidification
Randomness of blocks
By random selection of witness nodes and random arrangement of block rounds, the security and stable production of blocks on the chain can be ensured and DDoS and other security attacks can be prevented.
When the 10s block cycle is combined with the “solidification” mode, bifurcation and double flower problems can be avoided so as to effectively improve the speed of transactions on the chain, and meet the large concurrency requirements of real-world applications on the chain.
Reward and punishment
Witness nodes that generate blocks on time will get a certain number of token rewards, while nodes that fail to block normally will also be punished on the chain, forming an effective incentive and punishment environment to prevent nodes from doing bad things.
2.4 NetFlowCoin PoF consensus mechanism
The full name of POF mechanism is Proof of Flow, which is a mining mechanism based on the combination of static bandwidth support and dynamic flow work.
2.4.1 Bandwidth pledge
Like block generation, nodes that want to participate in flow production also need pledge. As a distributed value network oriented to the real application chain in the Web 3.0 era, the service quality of all participants (including but not limited to consumers, producers, partners, etc.) must be ensured in NetFlowCoin.
We know that in NetFlowCoin’s economic model, consumers need to burn a certain amount of FUL in order to promote the process in SDN / SDVN network. Therefore, how to ensure the rights and interests of consumers after payment is an unavoidable problem for the whole network service provider and it is also an important guarantee for the healthy development of the whole network ecology. NetFlowCoin’s bandwidth pledge mechanism is an important way to restrict the behavior of flow production nodes, promote them to provide services according to “rules” and obtain due benefits. At the same time, it is also used to ensure the quality of service of the network and provide startup guarantee for access users in case of punishment.
For the principle of bandwidth pledge, nodes should have different service capabilities (i.e. bandwidth size), so that they can be small enough for anyone to join easily, at the same time, they can meet the practical needs that the punishment will not be far less than the income. Therefore, NetFlowCoin’s bandwidth pledge is divided into four different levels according to the actual service bandwidth, corresponding to different levels of pledge respectively, which corresponds to a differentiated network quality embodiment from home bandwidth to computer room bandwidth.
2.4.2 Flow work reward
For flow work reward, a mining reward mechanism is adopted based on the valuable upstream flow actually generated by each node in the system. Flow, as dynamic data, will be rewarded to the service provider in the form of NFC after completing the corresponding service.
Flow means the upstream flow generated by the service provider (flow production node). According to the “client- server” model, from the perspective of the server, the client’s application for services is downlink flow (usually very small), while upstream flow can be produced for various services provided (such as video, pictures, audio and other contents, usually very large) and we can only use upstream flow to measure the value of real services.
Note: the flow of FUL must be burned before it can be converted to tokens on the chain.
2.4.3 Bandwidth support reward
For bandwidth support reward, it is a mining reward mechanism based on the high-quality bandwidth support provided by flow nodes for the network.
In a healthy global network, in order to ensure the sustainability of service quality massive bandwidth and service nodes are needed. Just as the traditional Internet giants will deploy computer rooms in various regions of the world to improve service speed and stability, on the premise of lacking super administrators, for the distributed network, the more demand for high-quality bandwidth and service providers, the better. Only in this way, can we ensure the high-speed link and redundant backup of the whole network data communication. It is conceivable that if there are more high-quality bandwidth service providers in the network, the better the services consumers will obtain, the greater the rewards of service providers will receive. At the same time, better service quality and economic rewards will attract more consumers and producers to join.
However, contrary to dynamic flow, in a nutshell, bandwidth providers may not be able to generate flow for 7 * 24 hours as a static supporting data, but bandwidth is an indispensable infrastructure in the network and its operation expenses that can not be underestimated. Therefore, a bandwidth supported reward mechanism is introduced into NetFlowCoin. At each reward window, all high-quality static bandwidth providers will receive high reward in the blockchain system in the whole network to encourage them to make significant contributions to the diversity and high quality of the network.
Although a distributed network in the virtual world is build for SDN/SDVN, each node still needs to depend on the support of the physical network. The quality of the entire virtual network rely on better physical bandwidth and stable services determine, which is a key factor in improving the entire ecosystem. Therefore, in the PoF consensus, the quality of service of all producer nodes will be checked periodically, and nodes that fail to deliver on their service promises will be penalized with benefit reduction to limit their capacity.
It is hoped that for NetFlowCoin, through the two-pronged approach of rewards and punishments, all participants can provide quality services and a prosperous ecological platform can be built together .
2.4.5PoF consensus advantages
Flow opens up on-chain and off-chain
Any application service relies on real flow, and for NetFlowCoin, it uses flow as a value medium for on-chain and off-chain connectivity
Upstream flow casting token
Based on the “client-server” access model, the upstream flow of the edge server is used as the basis for the service workload on the chain
Network bandwidth support
It motivates all bandwidth providers supported by SDN/SDVN network infrastructure.
Digitalization of assets (services)
Here assets are recorded on the chain in the form of flow and bandwidth to complete the digital transformation
The digitized assets will be valued on the chain in the form of tokens
The two worlds on and off the chain are skillfully considered and opened up through the redesigned consensus mechanism. The infrastructure and services of SDN / SDVN network are successfully introduced into the blockchain world in the form of flow by PoF, which protected the stability of the blockchain platform, so that the business operation can be completed in the whole system under the decentralized architecture in large-scale by efficient cooperation.
As a on-chain project based on real business, NetFlowCoin introduces a pledge mechanism to protect the sustainable development of the network and the interests of users, and regulate node behavior to prevent slash. Why do we need a pledge mechanism?
1.1 Traditional incentive methods cannot meet the needs of NetFlowCoin
Traditional blockchains such as Bitcoin or Ethereum are therefore mainly serving the main chain, and the ledger is kept at the full node, so as long as there are nodes, the data on the chain will not be lost.
NetFlowCoinis linked to the real business of SDN/SDVN, it is not only necessary to keep the ledger on the chain, but to maintain the security of the entire network. Offline nodes will cause losses to users.
1.2 The need for consensus of on-chain
The PoW-based consensus is not sensitive to users joining or leaving, and the consensus protocol will automatically adjust it. NetFlowCoin’s innovative PoS and original PoF consensus have completed real-world asset digitization through a powerful distributed network. If there is a loss of computing power, it will have a greater impact on the stability of the entire network.
1.3 The need for service continuity
The ultimate goal of NetFlowCoin is to build a distributed value network based on SDN/SDVN technology. This network operates independently of the Internet. Services on the network need to be guaranteed for stable operation in order to achieve the sustainability of the digital assets (value) carried on it. Sustainability cannot rely solely on incentives, but also on guarantee mechanisms.
Therefore, for the above reasons, the pledge is an important component of NetFlowCoin & SDN/SDVN, and it is also a reliable guarantee for the actual implementation of the NetFlowCoin project.
2. The pledge mechanism of NetFlowCoin
NetFlowCoin pledge refers to a node’s commitment, and all nodes participating in production must invest resources in order to complete the promise of flow services and network support and to provide sufficient guarantee for consensus.
Pledge is divided into block generation pledge and traffic pledge.
3. Block generation pledge
Block generation pledge is similar to Ethereum 2.0. It is expected that nodes participating in block generation need to pledge a certain number (36) of NFC in order to have the right to run for witness nodes.
4 Traffic generation pledge
All roles participating in traffic generation need to complete the pledge, and only the nodes after the pledge can get rewards by flow service and bandwidth support. Compared with block generation pledge, traffic pledge are much more complicated, since traffic pledge involves real businesses and cases.
The design of traffic pledge mainly considers the following aspects:
4.1 The amount of pledge cannot be too large or too small
In order to prevent traffic production from being monopolized by high-bandwidth nodes and lower the entry threshold for low-bandwidth nodes, NetFlowCoin sets four intervals for node bandwidth, and each interval corresponds to different adjustment parameters:
By introducing a regulatory factor, nodes with different bandwidths have different pre-staking NFC numbers. The larger the bandwidth, the more the number of pledges.
The greater the ability, the greater the responsibility!
4.2 The pledge should be related to the actual output of the system
The pledge needs to consider the balance between the generation capacity and the costs of nodes. When users and output are small in the early stage, a large number of pledges is required to protect the network. As the output increases later, excessive staking will affect the normal use of the network by consumers, because network traffic needs to be driven by FUL.
4.3 The pledge should be related to the scale of the network
With the increasing number of participants, the entry and exit of a small number of nodes will not harm the entire system. On the contrary, the addition of new nodes is a very useful supplement to the diversity and reliability of the network. However, the increase in network scale has led to an increase in value. It is necessary to avoid higher and higher entry barriers that hinder new followers.
On the whole, the pledge needs to combine many factors to meet the self-regulation ability in a certain period of time, so as to provide better services for ecological construction.
After NetFlowCoin integrates the cumulative output, computing scale (bandwidth scale), time and interval regulatory factors, a new flow pledge calculation formula is designed based on the unit bandwidth of different intervals:
refers to the number of NFCs that need to be pledged for the unit bandwidth mpbs of the bandwidth interval s at time t
is the cumulative NFC output of the entire network PoF
is the total network bandwidth at time t, unit: mbps
is the regulatory factor of the bandwidth interval s
s s is the bandwidth interval
In the early stage, due to the small output and computing power, the pledge amount will be too small to achieve the original design effect. NetFlowCoin uses a model that combines pledge value presets and dynamic formula calculation:
When the total network traffic is less than or equal to 1 EB, the pledge amount is based on the preset value
When the total network traffic is more than 1 EB, the traffic pledge calculation formula takes effect. There is still a judgment condition as follows:
If the calculated value of the formula is less than or equal to the preset value, the calculated value will be the pledge amount
If the calculated value of the formula is more than the preset value, the preset value will be pledge amount
5. Release of pledge
When the node exits our project, you can choose to release the pledge, the pledge balance after deducting the penalty will be locked for 180 days, users can withdraw the pledge balance at one time. Once the pledge is released, it means that the node gives up the power of block generation or traffic generation.
6.1 Block generation penalty
Nodes will be slashed due to double-signatures, failures, etc. (it is forbidden to become a witness node). The specific rules are as follows:
All nodes participating in the block generation have an initial score,
a)Each time a node is absent from a block, m points will be deducted from Score(BN). If a node successfully completes a block generation, Score(BN) will be added x points (m>x).
b)When, the node cannot participate in the selection of candidate nodes (this node cannot participate in block mining)
The penalty score is persistent, and its life cycle is as same as the block generation pledge, that is, it will be reset to full marks only when the block generation pledge is completed (for example: after exiting the block generation pledge, the penalty score would be zero, and reset the score to n when re-pledge).
Nodes can purchase scores, and they must be purchased at a time to make up to the full score n, and the NFC used to purchase the scores is added to the current node’s block generation pledge. The formula for calculating the score is:
6.2 Traffic node penalty
For nodes that participate in traffic generation, they will also be slashed when malicious behavior occurs. The penalties mainly include fake bandwidth and offline:
Fake bandwidth penalty
The actual bandwidth of the traffic node will be checked regularly. If it is found that the actual bandwidth of the traffic node BW(a)
For example: when the traffic node sam participated in pledge, the bandwidth is claimed to be 100Mbps, but the actual bandwidth is 80Mbps, the pledge amount will be deducted 100–80=20Mbps, and the bandwidth of sam will be reduced to 80Mbps (that is, the maximum daily flow of sam’s output will be reduced by 20%)
As a highly available network, NetFlowCoin hopes that all nodes involved in traffic generation can be online 7*24 hours, so as to ensure that the network can provide services to users all the time. Therefore, for offline traffic nodes, penalties will be imposed based on their offline duration.
a) If the online time of the traffic node is less than 19.2 hours per day, the node will not be able to get the reward for the day.
b) If the traffic node is offline for 24 hours, the node will not be able to get the reward for the next 7 days.
c) If a traffic node is offline for 7 days, traffic generation pledges of the node will be deducted to zero, and this node will lost the right of traffic generation.
7. The value of pledge
Pledge plays a key role in the stable operation of NetFlowCoin & SDN/SDVN, which is mainly reflected in:
Improve node stickiness: pledge can effectively increase the stickiness of nodes, prevent nodes from exiting the network at random, and will not prevent new followers from joining because of excessive high value
Standardize node behavior: Punishment can prevent nodes from doing evil and also incentivize nodes to provide better services
Increase the cost of attacks by 51%
Incentive nodes to maintain network stability: pledge allows participants and the network to form a community of interests, allowing participants to make contributions to the network more rationally
As a network base fee of SDN / SDVN, the price of FUL anchors dollars. Its value is linked to the flow generated by data services, and the flow transformation of real service digitization is completed through the “service → FUL → flow → NFC” model. FUL can only be converted from the NFC chain, and as a token bound to the address, but the transaction between addresses is not allowed.
1.2 What is NFC
NFC is NetFlowCoin’s native token with constant issued number, never increasing, and can only be produced by block mining or traffic mining. The operation of the entire live chain requires NFC as a unique fuel, and projects and users can be tightly coupled to the community of interests through NFC. At the same time, NFC is also a digital equity credential, representing a symbol of certain power, value, and the holders of NFC will have the right to participate in the candidate of the witness node. NFC is the carrier of value and power circulation in the public chain system. On the other hand, due to the existence of cryptography in the block-chain world, NFC has new features of strong privacy and tamper proof.
1.3 Relationship between NFC and FUL
Simple relationship: FUL → flow → NFC → FUL
The NFC is converted to FUL, which is used to pay the network fee of SDN / SDVN and to generate flow. And the flow rate is subsequently generated by the POF consensus, showing the real world into digital assets on the chain in the form of flow, FUL and NFC form a clever circular transformation.
The more users of SDN / SDVN, the more demand of FUL, wich will increase the value of NFC and develop more participants of NetFlowCoin.
2 NFC Allocation scheme
The total NFC is 2.1 billion, never be issued again.
NFC token allocation ratio:
5% (105 million): Foundation, used for long-term network governance, partner support, academic subsidies, public works, community construction, etc.
10% (210 million): investors, used to fund network development, business development, partnerships, etc., released linearly of 6 months to 3 years based on investment conditions.
15% (315 million): Project team, used for research development, deployment and maintenance, business development, marketing, etc. After locked up for 1 year, it would be released linearly of 6 years.
5% ($ 105 million): block mining, after the income is frozen for 30 days, it will be released linearly in 180 days.
Traffic mining (high quality bandwidth reward), after the income is frozen for 30 days, it will be released linearly in 180 days.
55% (1155 million): flow mining (dynamic traffic reward), after the income is frozen for 30 days, it will be released linearly in 180 days.
3 Attenuation model and release mode of Token casting
In NetFlowCoin, the producer can cast tokens (ie. rewards) in block, flow, and bandwidth, each with attenuation model.
3.1 Block casting attenuation model
The block generation right is controlled by the witness node, which is elected from the candidate nodes through POS consensus in each round.
The block generation reward is based on the time-based attenuation model, and the block cycle is 10 seconds and its issue halved every 6 years. The block formula is:
l n≥1，each after 1 year，n+1
the total issued number of NFC awarded by block of the n th year
is the total number of block rewards, ie. 105 million
If a node wants to become a witness node, it needs to pledge a certain number of NFC first, and it belongs to the top 21 of the total number of pledge nodes after asset weighting, that is, in the block generation. Meanwhile, in order to ensure the normal operation of the block-chain, the witness node needs to bear certain responsibilities. When the node fails to block as required or destroys the stability of the block-chain, the system will implement punishment measures according to some related rules.
3.2 Flow casting attenuation model
In the token casting based on dynamic flow, when the accumulative effective flow of the whole network reaches 44.389 EB, the output will be halved, and when the accumulative effective flow of the whole network increases by 1 EB, the conversion of flow to NFC will decay once, and the corresponding flow value conversion (flow and NFC exchange ratio) will be increased.
The flow casting half attenuation formula is:
l n≥1，all net effective flow per increase 1 EB，n+1
is the total issued NFC awarded by flow of the nth EB
is the total number of flow rewards, 1.155 billion
3.3 Bandwidth casting attenuation model
In the pass casting based on static high-quality bandwidth, the issuance is halved every 6 years, and the award window is issued every 24 hours. Each award is evenly distributed according to the proportion of the bandwidth provided by the node in the total high-quality bandwidth of the whole network.
Bandwidth casting half attenuation formula is:
l n≥1，after every year，n+1
is the total amount of bandwidth incentive token NFC issued in the nth year
is the total bandwidth rewards, that is, 210 million
3.4 Token reward release method
In order to protect the project ecology and the whole network node stability, which may be destroyed by the suddenly leaving of early profitable users, therefore for all users involved in the casting, the rewards obtained will be subject to the policy of locking the position for 30 days and then 180 days.
4 Deflation model
Like other block-chain projects, the issuance of NFC follows a predetermined and controlled supply model, and the production of token decreases over time, with natural anti-inflation;
NFC → FUL conversion deflation
In the circular supply and demand mode of NFC and FUL, casting NFC must be with the help of the SDN / SDVN flow promoted by FUL, while FUL can only be converted from NFC, and the converted NFC will be destroyed, which means that casting new NFC needs to destroy the old NFC. With the development of SDN / SDVN ecology and the increase of users, the demand for FUL will continue to increase, and the destruction of converted NFC will also continue to increase.
Thank you for your continued support of the NetFlowCoin Project. At the time of this announcement, the block height of the testnet has reached 100,2521 blocks, the cumulative traffic has reached 37.42 PB and the goal of testnet version 1.0 has been achieved.
However, integrating the operational data on-chain, as well as the opinions of ecological partners and test users, we have decided to comprehensively upgrade the current economic model, consensus and architecture to meet the various needs of on-chain and off-chain applications. These upgrades are critical in order for the NetFlowCoin Project to meet the standards of the Web 3.0 era.
According to the roadmap, we still have a lot of work ahead of us. This includes economic models, adding various functions on the chain, interfaces, and docking with third parties. During this process there will be many upgrades and changes. The NetFlowCoin Project team remains focused on the upcoming mainnet launch.
To avoid asset loss during the upcoming series of updates on the testnet, NetFlowCoin will temporarily suspend the mining function of testnet version 1.0 on August 31, 2021, at 24:00 EST.
Once the updates are complete, the NetFlowCoin Project team will make an official announcement ending the mining suspension.
Regarding the upcoming suspension of mining, the NetFlowCoin Project team asks all users to take notice of the following:
The tokens obtained from mining during the entire time period from the launch of the testnet starting on August 31 at midnight EST, can be exchanged into mainnet tokens after the mainnet goes online (exchange rules will be announced at a later date).
Note: We will take a snapshot of all the addresses on the chain and the tokens in the contract on August 31 at midnight to ensure the accuracy of exchange.
Tokens generated by the testnet on September 1, 2021, cannot be exchanged into mainnet tokens, and will only be used in the testnet.
New economic models and consensus mechanisms will be announced as soon as possible.
Just like bending the elbow is key for hitting a homerun, the choice to temporarily suspend mining on testnet is made deliberately. By doing this, the NetFlowCoin Project team intends to make the most of the upcoming mainnet launch.
Thank you again to our testnet users for your continued participation and support. Without you, there is no way we could achieve our goals. We look forward to building the NetFlowCoin value network.
Thank you for your continued support of the NetFlowCoin Project. NetFlowCoin has reached 845599 blocks and cumulative traffic of 30 petabytes. After careful consideration, and in the interest of ensuring a successful mainnet launch, we are officially postponing the original mainnet launch date of July 18, 2021, to Q4 2021. The NetFlowCoin Project will use this time to ramp up stress tests, address security vulnerabilities, and refine network security. We hope you will join us alongside the NetFlowCoin community and infrastructure providers (wallets, nodes, bridges, etc.) in our efforts to make the NetFlowCoin network mainnet 1.0 launch as secure as possible. Below is an updated project roadmap detailing what to expect for the rest of the year:
We are sincerely grateful for the NetFlowCoin community’s continued support. We look forward to realizing the NetFlowCoin Value Network.
We’d like to thank you for your support of the NetFlowCoin project. After completing the third phase of the testnet, the block height has reached 491591, and the cumulative network traffic has reached 12.22 PB. After four months of testing, to build a more complete mainnet and healthy ecology, we have decided to add, optimize, and upgrade the existing mainnet v1.0. Due to this upgrade, the mainnet’s launch date will be postponed from April 18, 2021, to July 18, 2021.
Over the next three months, we will be carrying out the following work and upgrade the mainnet to version 1.1. The following work includes:
Optimization ofthe network’s traffic mining mechanism, by applying the block generation method to complete the value conversion of the flow, and improving the real-time performances of mining revenue;
New function verification: Effective value network traffic;
Optimize main network performance;
Optimization ofthe economic models, such as deflationary contracts;
After all the functions and performances are verified, we will ensure that the entire community can go live on time, so that basic projects, infrastructure providers, block explorers, wallets, ecological applications, etc. have time to integrate, audit, and test in a timely manner.
We are doing our best to enable NetFlowCoin’s network to start safely.
We’d like to thank you for your continued support of the NetFlowCoin project. It’s our privilege to work with you to build an efficient, decentralized, and strong foundation for an information-driven value network.
We are really appreciated for your contributions to the NetFlowCoin network and community, it’s our great privilege. The responsibilities on us would also be greater. As time went by, the phase 1 of the NetFlowCoin testnet has been running steadily for a month since it went online on December 16, 2020, and the goals of which have been successfully achieved.
According to the Roadmap, the NetFlowCoin testnet will enter the phase 2 at 0:00 on January 16th, Eastern Time in North America (13:00 on January 16th, Beijing time). The test objectives are as follow:
Encryption Economic Structure
DPoS Consensus Agreement (Would be available after phase 2 is online)
When the phase 2 is launched, there are more available functions on browser and NFC wallet to meet customers’ needs, data query on the chain and digital asset management. At the same time, the exchange ratio between traffic and token will also increase from 30 GB / Token to 40 GB / Token.
For now, all testnet customers have successfully show your abilities in traffic contribution. If you have any suggestions for our project, please don’t hesitate to submit your comments at https://www.netflowcoin.io/contact/, or you can send your feedback on the official media account of NetFlowCoin.
Thank you so much for your continued support of the NetFlowCoin project. It’s our privileges to work with you to build an efficient, decentralized and strong foundation for humanity information value network.
NetFlowCoin Test Network Upgrade Test User Activity
Dear NetFlowCoin Test Network Users:
The NetFlowCoin test network was launched on December 16th 2020 and received strong support from the community and users in just five days. More than 50TB of contribution traffic has been collected so far, and each participating user has received a corresponding contribution reward. After collecting and observing the data on the chain, we make the following notifications and incentive activities:
First, test the first upgrade notification of the main network
From the perspective of the entire project roadmap, the first objective of the first phase of our test network (Ver 0.1 0) has been achieved.
In order to improve the service capacity of the test network, after careful consideration, has now decided to upgrade the test main network for the first time at 05:30 on December 21th 2020, with an estimated upgrade time of 5 hours. During this time, services on all main networks are suspended (browsers and wallets will not be able to get the data on the chain properly).
After the test mainnet completes the upgrade, it will reset the existing block and the first objective of the first phase of the test network (Ver 0.11) will turned on: benchmark and performance testing.
Second, test user motivationactivities
Upon completion of the first upgrade of the test master network, we will unlock all test users’ rewards within these 5 days and issue them to the user’s address (free circulation) as a thank you and incentive to participants in the initial phase.
Note: Subsequent traffic contribution rewards will still be implemented under established locking and unlocking rules after the test master network upgrade is complete.
Thank you again to the community and every user for their support of the NetFlowCoin project.
Every small step in netFlowCoin’s testing network will be a big step in creating a distributed value network for human society.