600 second node reward time
0.25NND rewarded per node every period
What is this?
10 mins for one block with only 0.25 NND per block. Did it what the team wanted expressing in the OP?
Did I understand the message right?
There is no block time with Netnode, 600 seconds (10 minutes) reward time was used out of user familiarity. Each Nodes rewards are 100% independent from each other with earning 0.25NND for every 600 seconds they are actively on the network and verifying transactions. Transactions are layered based on their genesis call and their settlement. Thanks for your interest!
Very interesting.
Could this not be gamed, with miners renting vast amounts of micro server instances to serve as nodes that farm the network?
Could an IOT botnet with a hundred thousand nodes not mine out the entire coin supply very quickly?
In theory, yes. However not very much so in reality. On launch nodes will be whitelisted through the protocol using device IDs translated into a hash that sticks with that node. Netnode is also considering distributing the initial launch nodes to a certain amount to combat a rocky start. Netnode will not limit a number of nodes a user can run but it would nearly be impossible for a person to set up that many nodes without greatly impacting the value of any underlying asset.
Due to the unique reward system and it's halving mechanism, a "malicious" actor trying to game the system would have a difficult time. If they can get around the whitelisting mechanism they would still have to be worried about the value of NND and the trust factor of their nodes to make any sort of impact.
If you would like to discuss the project in more of a conversation environment, we are very active on telegram. Thanks for the great question!