How To Be a Sealer on Nexty Network

Comprehensive guide to dig up some NTY

Published in

NextyPlatform

6 min readJul 14, 2019

The Protocol 2.0 update allows Nexty Foundation Coin (NTF) Holders to start a miner to received NTY with Gonex and Nexty Governance. Gonex is the official go-lang implementation of Nexty Protocol, available on Windows and Linux.

Download Gonex here

Minimum requirements: 4 GB RAM, 2 CPUs, 40 GB SSD.

Windows

Go to gonex download directory, extract (with zip program) then it’ll create a gonex executable file in the same directory (gonex.exe)
Create new account (wallet)

Open command prompt by typing cmd on Run window, then press Enter

The command line window display, go to directory that you extracted the Gonex file
Enter the following commands in command prompt to create account (wallet)

gonex account new

Enter and re-enter the passphrase, then an address will be displayed

Start a node:

./gonex — ethstats “NameOfNode:nty2018@stats.nexty.io” console

View coinbase address:

eth.coinbase

Start a miner node:

Create a text file containing the password you typed above

Run node as a sealer

gonex — ethstats “NameOfNode:nty2018@stats.nexty.io” — unlock “[eth.coinbase]” — password “Path_Password_File” — etherbase “[eth.coinbase]” — mine console

Example:

gonex — ethstats “WilliamDaFren:nty2018@stats.nexty.io” — unlock “0x6e17d0d08b7ad8d1c453009840e34180cbb851c4” — password “C:\Users\Nguyen\Documents\sealer_password.txt” — etherbase “0x6e17d0d08b7ad8d1c453009840e34180cbb851c4” — mine console

Run node as a service

Open command prompt, type:

sc create gonex binPath=”Path-To-Gonex\gonex.exe”

Example:

sc create gonex binPath=”C:\Program Files\Gonex\gonex.exe”

In cmd, type:

services.msc

A service with the name “gonex” should appear on the list Click on “gonex”, then enter the Run node as a sealer code in “Start parameters”, then click Okay to confirm.

Linux

Download binary release Gonex from github:

wget https://github.com/nextyio/gonex/archive/v2.0.1.tar.gz -O gonex.gz

Extract then gunzip gonex file:

gunzip gonex.gz

Grant run permission:

chmod +x ./gonex

2. Create new account (wallet):

Enter the following commands in command prompt to create a new account (wallet):

./gonex account new

Enter passphrase, and confirm passphrase, then the wallet display the Address

3. Start a simple node:

gonex — ethstats “NameOfNode:nty2018@stats.nexty.io” console

View coinbase address:

eth.coinbase

4. Start a miner node:

Create a text file containing the password you typed above

echo Your-Password-Of-Wallet >> sealer_password.txt

Initiate miner node:

./gonex — ethstats “NameOfNode:nty2018@stats.nexty.io” — unlock “[eth.coinbase]” — password “sealer_password.txt” — etherbase “[eth.coinbase]” — mine console

Example:

./gonex — ethstats “WilliamDaFren:nty2018@stats.nexty.io” — unlock “0xc74ebc22341092ef8caaa989f2f05e44f0ee25bc “ — password “sealer_password.txt” — etherbase “0xc74ebc22341092ef8caaa989f2f05e44f0ee25bc” — mine console

After the node is successfully deployed, go to Nextats to check if your node is deployed on the network.

Nexty Governance

Login

After a node is set up, users should login Nexty Governance to become a sealer.

Using Nexty Wallet Private Key

This is not recommended for Login because of potential security breach

Enter your private key, then click Login to continue.

2. Using Metamask

Go to Metamask
If you don’t know how to use Metamask, please watch their How It Works video
After having completed the installation, you can find Metamask icon on Extension taskbar (typically located on the top-right corner of the browser)
Create your account (Remember to save your backup phrase)
A window will appear, on top of the window, click on the dropdown button, then Custom RPC
Enter Network Name: Nexty, New RPC URL: https://rpc.nexty.io, ChainID: 66666, Symbol: NTY, Block Explorer URL: https://explorer.nexty.io

Dashboard

After login Nexty Governance, the list of Pools will appear

Manage

Balance NTF available in user wallet
Deposited NTF deposited in Nexty Governance
Minimum to join is the minimum amount of NTF necessary to participate in sealing
Status JOINED/ NOT JOINED
Signer address The account address that sealer will use to sign when sealing block and receive rewards on their NTF token-holding address

You can grab Signer address from eth.coinbase as generated/configured in gonex

Requirements:

❖ A participant should deposit at least 50,000 NTF into registration contract

❖ A participant need to set their Signer address to seal the block

Click Join button to complete the action, click Yes to confirm, or No to cancel

Deposited amount will be locked after leaving Nexty Governance

Sealer clicks Leave to exit from Nexty Governance
Lock duration after leaving is the duration that NTF is locked after leaving
After user has left Nexty Governance, a notification window will display Left success

Deposit

This is where user deposit NTF into Nexty Governance to become a sealer.

Your balance is the amount of NTF are available in your wallet
Deposited is the amount of NTF you deposited
Amount Enter the amount you want to deposit

The valid amount of NTF entered must be a positive integer, greater than 0 and less than or equal to your existing amount

A confirmation pop-up window will appear, click Yes to confirm, or No to cancel

Withdraw

Users can withdraw the amount of token they have deposited if they did not registered as Sealer. If the user is already a Sealer, they can not withdraw immediately. When leaving the group, the amount of money users deposited will be locked in a period of time. After that, users can withdraw.

Transfer

Nexty Governance allows user to transfer NTF between accounts

To transfer NTF to other address, input destination address into To address (The address must be ERC20 format)
User inputs amount of NTF to transfer then click Send
A confirmation pop-up window will appear, click Yes to confirm, or No to cancel
After the transaction is processed and completed, a notification window will display Transferred success

Logout

Click Yes on confirmation dialog to complete the action, or No to cancel
After user has logged out, a notification window will display Logout successfully

Nexty Poolmaster

Metamask or Private key is required to login Poolmaster.

2. Go to Pool Maker

Owner is the wallet address used to login.
Pool’s Name is the name of the pool.
Pool’s Website is the website of the pool.
Pool’s Location is the location of the pool.
Pool’s logo is the logo of the pool (URL).
Compensation Rate is the percentage (%) of the NTY reward for the Pool’s owner.
Max Lock Duration (days) is the maximum duration NTF will be locked after a NTF withdrawal request sent to the poolmaster (7 days maximum).
Owner action delays (hours) is the duration of a pool master’s action will take place.

Click on Create a Pool to complete the action. The pool master can give action to the pool in Pool Control.