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Topic: Coinxu.com: Encryption digital currency e-commerce platform - page 2. (Read 4164 times)

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Mango & Passion Fruit Instant Tea(Net weight: 475g / 16.76oz)

Ingredients:
Cane sugar, Citric Acid, Black tea extract (1.3%), Natural flavouring.

This instant tea is suitable for Vegans & Vegetarians.

Produced in a factory that handles Cereals containing Gluten, Milk and Soya. The factory is designated a nut free site. However, we cannot guarantee that the raw  materials entering site are nut free.

A suggestion to brew a perfect cup of drink:
Mix three rounded teaspoons (approx 20g) per 200ml of hot or cold water, or according to taste. Stir well. Can be drunk hot or cold. Tub contains 25 servings. Dissolve in hot water for better results, when making them both hot and cold.

Available in BTC now:
http://www.coinxu.com/items/53ac2bf73051af814e97d4d8#jtss-tsina
newbie
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Journalist:If encrypted digital currency wants to actualize its application in practical life, it not only needs to overcome the difficulties in technology but also get spread out the places to let people know. Society has strict and severe attitude towards to encrypted digital currency such as Bitcoin and there are a few bigots holding some questions, for example: how does Coinxu evaluate the current market situation and does it look ahead a little bit?

Coinxu: Internet is Fast Fish Law and encrypted digital currency industry is even severed. A few days ago, some insiders recruit IOS engineers with only more than one day of experience required, which is not exaggerated in the current extreme circumstances. It might be easy for us to get involved when the social mainstream would have started to present the Bitcoin. But BAT(Baidu, Alibaba,Tencent) has ruled out the most of internet industry and there is no much left for other corporations/

Journalist: how does Coinxu, as an E-business platform, gain the approval of merchants?

Coinxu: At the beginning, only a few people in e-business circle have access to this encrypted digital currency e-business. And those people who are interested in Bitcoin, they would really take an action to experience this technology. Those merchants who are out of this business circle, just trying to use experience services, attract consumers to purchase. From a point of view that Bitcoin has no enemies and what people need to do is scan the two-dimension code, which is a saving-money, convenient and fun way. If I were a consumer, it’s really no big deal to have a chance to experience it even you have no idea about its technology principal. All users can individually have their B2C and C2C transactions. We also provide our website in simplified Chinese, traditional Chinese and English version with our users and build even more professional website to convenience more and more people

Journalist: What is the point of English version?

Coinxu :Bitcoin is mostly designed to cross-border payment. Its English version means so much more than Chinese version and it is born to be Ebay instead of encrypted Taobao website. Our parent company established in Hongkong because this encrypted currency E-business is born to connecting to HongKong, a International financial center.

Journalist: Is there any supervision of regulation for online cross-border transactions? How does Coinxu make sure that users’transaction will process under the premise of legal system and how does it achieve the supervision and self-discipline of this platform?

Coinxu: As the appearance of  Bitcoin has gone beyond people’s experience , there are no laws and terms specific to the digital encrypted currency in the world. We consider that ,Bitcoin-- virtual products defined by central bank ,those products can be exchanged. And Bitcoin transaction, as a bartering way in essence, is a buying-to-selling behavior online that people have their own rights to decide whether or not to get involved. Developing Bitcoin transaction online is just a marketing behavior allowed within the regulation and not against the law. In the meanwhile, the government should also realize that Bitcoin is a neutral technology to change people’s lives.
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Journalist:so What kind of applications does Multisig have on a global scale?

Coinxu: For Bitcoin community, a company, such as BitGO ,uses multi-signature technology to develop Wallet application and Hashtrust does the similar things. As far as we know, coinxu, is the only one that applies this technology to E-business. What we want to say is the good application is to address the problem and there is no meaning to judge the book by its cover or hear it through the grapevine and then give your judgment. It is worthwhile doing some research on this technology as it still comes as a new invention in the world.

Journalist: Why don’t you produce the Wallet? It seems BitGo is having a widespread reputation on it recently?

Coinxu: Coinxu can definitely produce Multisig wallet but just because there are a bunch of these wallets. There’s no need do the same thing. What we want to do is just deal with Bitcoin problems in the middle of transaction. A simple explanation is that our goal is to be eBay in Bitcoin community. We will release Technical white paper about Multisig at the right time. On the one hand, it enables people to have a better understanding of platform advantages of Multisig technology in Coinxu website. On the other hand, we hope it can bring up heated discussions in Bitcoin community so that we can improve the Multisig.

Journalist: Encrypted digital currency, such as Bitcoin ,is innovative technology that raises concerns and disputes in recent years. While e-business is the main increasing region in national consumption. So what does it mean if Bitcon combines with E-business? And what kind of impact can they have?

Coinxu: With more disputes, the bigger development space, Bitcoin has exploded in 2014 while e-business is the industry link that can bring Bitcoin to life, which is like electric and magnetic fields, connecting to each other. It is obvious that it has countless changes when more and more people get involved into this business. If People in the domestic country want to purchase a foreign software, they just deal with the transaction through the data transmission online, which can save money and time cost. As long as technology can provide enough security and insurance, it definitely would be the first choice in the market. It would lead to the fact that people imitate this successful model and boost the development and innovation of this whole encrypted digital currency. Some people compare this current situation to the one in 20 years ago, which is based on the fact. Everyone would tend to choose the lower cost technology and we believe that Bitcoin would be accepted because it will change our lives and make everything better..
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Today, accroding to interview with the founder of Coinxu.com, we can know about coinxu.com.

Journalist: why do you choose Bitcon that dispute arises as the first choice for your entrepreneur?

Coinxu: In short, we just fell in love with it. Some of our friends in this team, they have experienced the turbulent decade of the Chinese Internet from BBS, blog, space ,weibo to mobile internet .There are no other internet products like Bitcoin that we are so obsessed with .Its technological insights, reformative points, we just feel immersed when we fist get involved in it. We find it easy to feel connected when you guys really have something in common just like Bitcoin and us.

Journalist: Can you introduce us the principle of Multisig technology?

Coinxu:In a traditional Bitcoin account, each Bitcoin address is subject to a specific private key. When it comes to Multisig address, there are three private keys related to each other and you need two of them to complete the transfer. Actually, you are also able to set it in 2/3,3/5,6/11 but 2/3 would be the common one, which is so called Multisig.

Journalist:I am still quite confused. Let me ask you. What is the point of this technology for the development of Bitcoin?

Coinxu: You can use this Multisig to tackle two problems of Bitcoin, which is Zero Trust and reversibility in trade business. And those problems used to be Achille’s heels that you can relate to a few private keys with an address set by Multisig .You need the verification of those private keys to conclude your business transaction. If the account is not verified, Bitcoin will go back to the previous address. It guarantees and reverses Bitcoin business without particular agent, which is helpful for tackling Bitcoin’s problems when you put it into use in life.
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Nowadays, we upgrade our wallet application. We change it into blockchain mechanism. Users control your private codes. From now on, Coinxu.com keeps away from users' property and prevent doing evils.
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Describe the process of operation by Coinxu.com according to the process of refund
1. Process of normal refund
When buyer applies for refund and enter the site of refund, the codes run in browser will sign the transaction which refund from the trade multisig site to refund site by buyer’s private key. Seller confirms refund and then the codes run in browser will sign the transaction by seller’s private key. In this case 2 of 3 parties sign the transaction, and then this transaction will broadcast to Bitcoin network. Buyer will get his refund.
2. Process of disputable refund
When buyer applies for refund and seller doesn’t agree, Coinxu.com will arbitrate the transaction based on information provided by both sides, such as express postal number. If Coinxu.com arbitrates through the refund, Coinxu.com and buyer will sign the transaction. In this case, 2 of 3 parties sign the transaction, and then this transaction will broadcast to Bitcoin network. Buyer will get his refund. (Maybe someone worries about Coinxu.com collaborating with buyers to conduct fraud. Yes, it is reasonable. But Coinxu.com doesn’t have to collaborate with someone to deceive just for such benefits. If so, Coinxu.com can’t operate any more. In other ways, even Coinxu.com does evil, only one customer gets lose and other customers are safe. Technology solves 95% of problems, and the other is 5% of problem. Compared with Taobao, Coinxu.com is already perfect)


Transaction in Coinxu.com:
1. Secure: Bitcoin in transaction is safe by multisig. Coinxu.com can’t embezzle fund in trade and each Bitcoin is under the public supervision by both sellers and buyers.
2. Customer guaranteed: After normal Bitcoin trade, sellers can touch the money immediately and buyers are weak groups. In Coinxu.com, only after confirm by buyers can sellers get Bitcoins in trade. In this case, Coinxu.com protects the lawful rights and interests of consumers effectively.
3. Usability: Customers don’t have to know about complexity of multisig by technology packaging. The usage experience of Coinxu.com is similar to Taobao’s and EBay’s.
newbie
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Two kinds of traditional cryptocurrency trade process:
1.Buyers transfer Bitcoin to sellers’ Bitcoin address. If there is a dispute between sellers and buyers, they can only depend on their credit. (You can certainly choose to believe celebrities’ credit. It depends on you. Or you can choose face-to-face transactions, and then wait for confirmation for 6 times)
2.Based on centralized hosted services, you can transfer Bitcoin to centralized hosted account. In this case, hosted service providers have Bitcoin proprietary rights in essence. In other ways, platform’s private keys can control your Bitcoin. If it is an occasion to moral hazard or hacer break-in, security of transaction wouldn’t be ensured. (That is the reason for worry about trade platform and traditional wallet application. Your Bitcoin is controlled by other parties. All of margins is just a kind of restriction of ethics.)

Coinxu.com uses multisig to change the approaches to cryptocurrency trade
In cryptocurrency trade process with multisig of Coinxu.com, buyers, sellers and platform all have a private key and its corresponding public keys. Based on a 2-of-3 multisig escrow, Coinxu.com is a safer and more easy-to-use e-commerce platform that can safeguard customers’ property. It is important to note that both buyers’ and seller’s private keys is encrypted by users’ own password in browsers. It means Coinxu.com can never get users’ own private keys. Coinxu.com will create a multisig payment site according to buyers or sellers in transaction and platform’s public key. ( The site is possessed by three parties) 
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Coinxu.com Multisig White Paper

Script language of Bitcoin is not complete, but it still provides convenience for application development. It's the essence of Bitoin that it can evolve by itself. Multisig is based on the p2sh protocol which supported by Bitcoin. It introduces M of N (M≤N)judgment system of Bitcoin proprietary rights. That is, multisig site is created by several public keys, and transfer of Bitcoin is made by private keys. By utilizing this technology, we can solve many problems creatively. Next we will demonstrate how is multisig used in Coinxu.com (www.coinxu.com) — the cryptocurrency trade e-commerce platform.
newbie
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Do I understand correctly that this is a 2-of-3 escrow and arbitration service?


In short, Yes,  it's a 2-of-3 multisig escrow focused on e-commerce. Here is the detail, for each order we use seller, buyer and coinxu's public key to create a unique multisig bitcoin address to pay, (coinxu can't access user's private key, is encripted by user's own password).   in normal case, the buyer and seller can control the coin flow in  this multisig address according to the shopping procedure, when there is a dispute, coinxu's key is used for arbitration.
 

 Cheesy
newbie
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Do I understand correctly that this is a 2-of-3 escrow and arbitration service?


The general idea is what you said. Multisig site is created by 3 keys. Our platform have one key from the 3 keys. Generally, if buyers and sellers make trades normally, their international payments will be completed. Our platform will not get involved.
hero member
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Do I understand correctly that this is a 2-of-3 escrow and arbitration service?
newbie
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http://ww1.sinaimg.cn/mw1024/005uufudgw1ei8wb2ndbej30i40al769.jpg

website: www.coinxu.com

The first encryption digital currency e-commerce platform COINXU.COM succeed in making the application of multisig and the service of e-commerce together, and make the encryption digital currency come into use in e-acommerce. Being difference with Bitpay and Coinbase, the application of E-wallet isn’t the key service of COINXU.COM. Its key application is guarding safe of buyers with Multisig, COINXU.COM has only one key in trade. We can explain it in simple words. That means COINXU.COM fuses the function of Taobao and Alipay. But people can trade on the platform without recharging in COINXU.COM. This is the first using of signing in multiplicity in the industry chain of E-commerce. And it makes a great contribution to the development of encryption digital currency commercializing.


Multisig: the direction of E-commerce

As a opening electronic payment system, Bitcoin confirms its stateless identity at its birth. This feature makes it becomes the preferred medium of the people who pay internationally. COINXU.COM confirms its internationally identity when it was set up in HONGKONG, and improves its identity constantly with setting its website in Simple Chinese, Traditional Chinese and English. COINXU.COM enlists a series of technical programmers to develop Multisig and unite Multisig and E-commerce in half of one year. It guards the safe of the trade of encryption digital currency and popularizes the application of Bitcoin.

COINXU.COM has B2C and C2C two modes. Everyone can set up his store and trade internationally with E-wallet. Bitcoin is the major medium. Not only develops its technology, COINXU.COM but also develops users’ experience. Its website equips new homepage templates to offer users different styles. In addition, it allows users to custom its homepage.


E-commerce: the integrating point of E-commerce and Life in future

After the fluctuation of price, the carrot-and-stick policy and the self-regulation of the industry, the encryption digital currency like BItcoin is developing constantly not only in China but also all over the world. Although the doubts still exist, the development of Bitcoin is irresistible. Large capital turns into the industry chain of Bitcoin. The industry chain of Bitcoin in foreign countries has been already mature. Mining, chip, ore assemble, trade platform, investment, wallet storage, payment online and other links of Bitcoin is going mature.

Among those links, E-commerce is the closest link with popular, and it’s gong to be the joint point that makes people’s lives better. The determines of technology is benefiting mankind and making people’s lives better. E-commerce joint the innovation of Bitcoin and people’s lives so that benefiting more people from the technology, decreasing the loss of capital in trade and making win-win between the application of technology and fiancé. Based on this purpose, COINXU.COM enters the domain of E-commerce, and wants more people can trade with bitcoin, then realize the meaning of technology.


The development of BItcoin: 2014 is gong to be the year of Multisig

Some people call 2014 the year of Multisig, because the number of facilitators which can support Multisig is increasing. Come so far, CryptoCorp and Coinbin can offer this kind of service. Bitcore— a team from Bitpay, claims that they will exploit Bitcoin wallet which can support Multisig.

Nowadays, the whole industry is focus on the multisig, because this kind of technology guards the safe of trade with bitcoin efficiently. In formal trade, each bitcoin has its own key. But multisig site can have three related keys. With two keys of those, the transfer can be completed. Based on this theory, transaction exposure will be limited at the extreme. After leading the theory and application of arbitration into fragmented trade system, it will supply and perfect Bitcorn efficiently.

There are also some people argue that the application of this technology is exceeded. They worry that it’s not the appropriate time to make the digital currency into use. In our interview, Jia Zhen (co-founder of COINXU.COM, past technician in Tecent and the winner of ACM) said that, the technology should be exceeded to the time, especially Bitcoin. COINXU.COM carries the dream and ambition of our team. It will energize the development of Bitcoin. Instead of it, COINXU.COM can make people believe their dream of better life.
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