Quote from: NFDcoin on April 26, 2014, 04:20:18 PM

Quote from: jalmari on April 26, 2014, 04:16:09 PM

Quote from: GodfatherX on April 26, 2014, 02:08:55 PM

Quote from: jalmari on April 26, 2014, 01:13:20 PM

How the distribution will happen and how is the hash going to be used?

You can see the details of distribution on the OP. Hash is the entrypted hash of your password.

Quote

First you need to choose a safe password. A password with a length of 30 random characters is recommended.

And it will be used to create your account and devs will send your coins to your account if you order any.

I have read the OP and also followed the instructions and sent the hash via PM.

So, the Dev can create an account for me by using the hash? This is totally new way of doing delivery for me. Normally you would send an address. So, this works differently?

Hello,

Yes, the concept of NXT/NFD is that of a brainwallet. Instead of using a 50(ish)digit privatekey like BTC et. al., NFD uses a password to enter the account. No wallet is needed!

The way it works is, that an algorythm uses the password to create a SHA256 hash and transforms this hash into an account number. So by giving me the hash of your password, I can include your hash in the genesis account. Then at the launch you can download the software and enter your account and there you will find you coins.

(explained at a very trivial level Wink

)

Ah, ok now I understand! Thanks for the info! Very interesting approach!