Introducing: the NKNx Node ID generation service
Since the beginning of May NKN requires to pay each node a fee of 10 NKN mainnet tokens to start participating on the network and therefore start mining (https://forum.nkn.org/t/security-enhancement-adjusting-fees-for-generate-id/3243).
Although that is beneficial for network security most new miners struggle with getting mainnet tokens because the usual exchanges only offer tokenized ERC-20 NKN. One option is to use the official NKN token swap (https://swap.nkn.org/) but still the transaction fees on the Ethereum blockchain are quite high. With the NKNx Node ID generation service, we released with NKNx v3 things are getting much easier!
What is a Node ID generation service and what does it cost?
The NKNx Node ID generation service is a way to easily pay the required Mainnet fee with BTC orLTC. It seamlessly integrates into the NKNx portal and makes use of the integrated payment system. Whenever a node with “Generating ID” is added to the node manager NKNx finds its NKN address and offers payment options right in the app.
After selecting the nodes you want to generate IDs for you can choose to start the payment process.
On the right, you see the total price of our service. It is calculated like followed:
- Base price: The current NKN price * 10
- Service fees: 4% to cover transaction fees
When you click on “Pay and Generate ID” we will get to work! After we received payment (we will send you an eMail when that happens) the process is completely automated. We will send 10 NKN to your node and make sure it starts mining accordingly.
Easy, isn’t it?
We hope you will find this feature useful. If there are any problems don’t hesitate to use our support system on https://nknx.org or leave your opinions right in the comments!
