Introducing Namespaces

Development fund, nodes fund and community fund are all good options.
Why don’t we let the user choose one of them when he buys a namespace?
From time to time we can add to the options new funds, charities…

I think distributing the fees to the supernodes automatically is the best option. That would be a pretty awesome feature to have.

Too complex.

You can prob even use the node rewards code that will hopefully be in place by then. Just switch the account it uses to that special multi-sig one. Wrap the payouts in a batch so devs don’t have to constantly confirm tx. Doesn’t sound too complex to me but I might be missing something.
important distinction is harversters and nodes though. Harvesters are people that already have NEM. So node rewards would possibly be a way to further distribute XEM and get people to support the network.

sounds like a job for bots and XEM PAY/SIGN to me.

Exactly, I’ve been thinking the same thing.
Maybe even distribute some to poor harvesters like Alice did…

Aside from this discussion, I have a question about the namespaces…
What happens to the assets issued for a particular namespace if the fee is not payed in time ?

That’s not a thing. I assume issueing assets is done via a special tx and if you don’t pay the apropriate fee then that tx can’t be sent. You could broadcast it but noone will accept it.

No, I mean the following scenario:

Someone registers a namespace and creates an asset.
This asses is traded frequently but then the asset issuer is so busy :grinning: he forgets to renew his namespace subscription.

What happens with the existing assets ?
Can I hijack his namespace by paying the fee ?

That a good question.

If a namespace expire, all asset that live in that namespace are gone too. After expiry the former owner has one month to renew the namespace. During that time nobody else can claim the namespace. After that period, the namespace gets purged and everything is lost forever (including assets). At that point you are free to claim the namespace (without existing assets).

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If I create an asset and send that out to 100 people, but then my namespace expires, do the assets disappear out of their wallet?

@jabo38: it should disappear, yes.

This sounds like scamers heaven.

Would it be possible to not let namespaces expire once an asset is issued ? I know then everyone could just issue a bullshit asset to not loose the namespace but dissapearing assets sounds even worse to me. It could be made a little harder by requiring a certain amount of asset holders to “secure” the namespace from expiring.

patmast3r, an asset is a bag of hot air. Without the creator supporting an asset, it is worth nothing. So it doesn’t matter whether the creator disappears or simply doesn’t renew the namespace.

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We have thought about it at length. If a scammer has an intention to scam, the scammer will scam anyway, irrespective of whether the namespace is going to last forever or not.

It is more likely if the namespace is not being renewed, it is a scam job, otherwise, it is to the interest of the creator to further extend, in whatever business he is doing.

All scamming aside, there is always the risk of a asset creator that forgets to renew his namespace. I knew a (pretty big) company that once forgot to renew some trademarks and got into a lot of trouble with a former employee that took advantage of this :confused: Well, you can imagine what happened :wink:

It would be even worse if the assets just expire.
On the other hand these are problems that can be dealt with I presume… :grinning:

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Perhaps we could build into it, a “suspension” of service for 1 month sort of thing. If they cannot transact, they will start complaining and the creator may be alerted in time.

Yes , that looks like a good idea :smile:

Yeah, the more I was thinking about it the less I though it was a problem actually.
As always, communuication will be key. Loads of warnings and reminders int he client will also help.

Initially, I was kind of like, “wow, I could wake up one day and my assets just disappeared and I had no decision or power in the matter.” But now that I think about it, the system is set up fine and it is actually better that they expire. It gives businesses more control and flexibility and allows for greater uses.

In the case that I have assets disappear against my will, that problem means that the company went out of business or some other undesirable outcome. Regardless the asset would be worthless anyway. This is just NEM doing the figurative “house cleaning” and removing it from my wallet for me. hahaha

For instance, lets say a pet store down the street gives me a coupon (on blockchain mosaic) for a free dog grooming.
So I keep that in my NEM wallet. But later that pet shop has those coupons expire, so now they just don’t renew the namespace for that coupon and all is fine. It gets deleted from my wallet. Or maybe they even go out of business and don’t renew that namespace. It is better it is removed automatically.

Or lets say I am a student at a school and they issue on on blockchain student ID (this is possible with Mosaic). They don’t want people using a student ID indefinitely so every so often they let that namespace for that batch of ID’s expire and now they are all no longer valid. Students still going to that school, would have just turned in their old one to the school NEM account and a program would automatically issue them a new one with a longer expiration. For students to renew their ID, it would take all of 30 seconds.

And for a company to renew a namespace, takes all of 30 seconds. It isn’t like a person has to apply for a complicated paper work and fill in a lot of blanks. It would really be a 5 clicks and a password and done type of deal.

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