[NXT] Decentralized Asset Exchange Discussion Thread - page 11.

CIYAM

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Ian Knowles - CIYAM Lead Developer

Quote from: bitcoinpaul on March 17, 2014, 05:00:42 AM

Right now:
Asset Names -> Buyer pays attention to Asset Name, Description, Asset Issuer Account and some public opinions

Your idea:
Alias -> Buyer pays attention to Alias (belonging to Nxt account which issues the Asset), Description, Asset Issuer Account and some public opinions

I don't see a big difference. What don't I understand?

The only real difference is whether or not an Alias Name has to be "unique" and whether users are going to get "tricked" or "confused" because they didn't check other things (or their client didn't show it the "right" way).

As I said provided that Asset Name doesn't need to be unique then I don't mind if it remains.

bitcoinpaul

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Right now:
Asset Names -> Buyer pays attention to Asset Name, Description, Asset Issuer Account and some public opinions

Your idea:
Alias -> Buyer pays attention to Alias (belonging to Nxt account which issues the Asset), Description, Asset Issuer Account and some public opinions

I don't see a big difference. What don't I understand?

CIYAM

legendary

Activity: 1890

Merit: 1086

Ian Knowles - CIYAM Lead Developer

Quote from: bitcoinpaul on March 17, 2014, 04:35:02 AM

What would be a good solution that people could recognize this asset as the xyz asset?

We already have aliases that *belong* to accounts don't we?

So we can put the name of the Asset into such an alias that belongs to the Asset issuer.

e.g. @Asset_Id = "ABC Asset"

The idea being that the Asset Name is no longer unique - you just choose which one you want to pay attention to according to the Issuer (so it doesn't matter if you get duplicate names as long as you know the issuers accounts of the ones you are interested in).

I would expect an Issuer would be making some sort of announcement where they can tell everyone the Issuer account id for their new Asset.

bitcoinpaul

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We will see, foxfoxcoin. With altcoin-gateways to Nxt, it could be a game changer.

Did you try it out on the testnet?

foxfoxcoin

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this is an awesome project but i wonder if it can success

bitcoinpaul

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Let's say by issuing an asset, this asset automatically gets a random string as the name (=identifier). What would be a good solution that people could recognize this asset as the xyz asset? Linking to aliases, which are already squatted and can easily be obtained (1NXT in comparison to 1000NXT when issuing an asset) sounds not good.

CIYAM

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Activity: 1890

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Ian Knowles - CIYAM Lead Developer

Quote from: bitcoinpaul on March 17, 2014, 04:16:59 AM

It needs collaboration of all client devs for this. AE should be a cohesive experience across all clients.

Agreed - that's why I would want the Asset Name to be non-unique (it would *force* the clients to do something better as their users will complain about the duplicate Asset Names).

bitcoinpaul

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Quote from: Come-from-Beyond on March 17, 2014, 03:54:37 AM

Quote from: CIYAM on March 17, 2014, 03:50:06 AM

This has probably already been discussed but I think we need to get rid of the "Asset Name" so we don't end up with a second lot of name squatting.

Wouldn't it be a better idea to just tie an Alias to the Asset Id same as we can tied an Alias to an Account Id?

Client software could just hide "name" field.

It needs collaboration of all client devs for this. AE should be a cohesive experience across all clients.

CIYAM

legendary

Activity: 1890

Merit: 1086

Ian Knowles - CIYAM Lead Developer

Quote from: Come-from-Beyond on March 17, 2014, 03:54:37 AM

Client software could just hide "name" field.

As long as duplicate names are permitted then I would be fine with that.

Come-from-Beyond

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Newbie

Quote from: CIYAM on March 17, 2014, 03:50:06 AM

This has probably already been discussed but I think we need to get rid of the "Asset Name" so we don't end up with a second lot of name squatting.

Wouldn't it be a better idea to just tie an Alias to the Asset Id same as we can tied an Alias to an Account Id?

Client software could just hide "name" field.

CIYAM

legendary

Activity: 1890

Merit: 1086

Ian Knowles - CIYAM Lead Developer

This has probably already been discussed but I think we need to get rid of the "Asset Name" so we don't end up with a second lot of name squatting.

Wouldn't it be a better idea to just tie an Alias to the Asset Id same as we can tied an Alias to an Account Id?

vanduric

newbie

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Hi, could I get some testNext for testnet : 9362966581067150294

thanks

loyer

member

Activity: 73

Merit: 10

yeah where can i download the client?

Isildur23

full member

Activity: 178

Merit: 100

Can i get some testnxt?

8619009819187075604

Thanks in advance!

qq2536007339

newbie

Activity: 15

Merit: 0

I want test,here is my account number:18347252788360169341,thanks!

JKBtCn

full member

Activity: 224

Merit: 100

I received some testnet NXT earlier but made the mistake of changing the fee amount from 1,000 to 10,000 when creating an asset to exchange!

Q: so this fee, would it go to the account that forges the block? If so, that's a lovely payout!

Would love to keep playing: Any more testnet NXT?

Thanks: 12745592950286399800

Sapphire

newbie

Activity: 38

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Hey guys!

I want to join you testing the Asset Exchange feature. Can you send me some testNXT?
Here's my test acc: 3073766067894120566

Anon136

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Quote from: nxtsky on March 06, 2014, 07:33:20 AM

Quote from: Anon136 on February 16, 2014, 11:12:10 AM

Quote from: nxtsky on February 16, 2014, 03:04:22 AM

Quote from: Anon136 on February 15, 2014, 11:32:13 PM

Quote from: nxtsky on February 15, 2014, 10:26:43 PM

Quote from: Come-from-Beyond on February 15, 2014, 10:36:28 AM

Quote from: nxtsky on February 15, 2014, 09:56:46 AM

Why I can't issue an asset which name is already exist? I got a error as "xcp" is already used.

It's by design.

I don't get it. As "xcp" for example, Some one has issued "xcp" already. And I have some "xcp" and want to sell it. I can't sell it if I didn't issue it, unless I use another name. Why? I mean all the same thing should be under the same name.

because BobsXCPTokens are a different thing from NxtskysXCPTokens. Just issue them like this NxtskysXCP.

Thanks, as a newbie, I don't completely understand how AE works. Is there any paper used to explain the AE works in detail? The NXT wiki is to simply too describe AE system.

ill just explain it to you right now. Exchanges like nxt, ripple, and mastercoin work with an idea called colored coins. So with a bitcoin any one bitcoin is the same as any other bitcoin. They are what we call fungible. Colored coins are intentionally not fungible. They are intentionally distinct and different from one another. Colored coins have a value attached to them. So for example, speaking in abstractions here, a colored nxt may have the value attached to it of "Nxtsky promises to pay 1 btc to who ever sends him this token, signed netsky". Now that token can be traded on a market.

Lets say betty wants to trade litecoin for bitcoin. She sends litecoin to "hanks litecoin gateway" with a message attached "bettys nxt address:blablabla". Hank will issue "X hankLTCTokens" and sends them to bettys nxt address. Betty uses these to fill the highest bid for on their orderbook thus gaining nxt. Next betty uses her nxt to fill the lowest ask on the orderbook for nxtskysXCPTokens. She sends her nxtskysXCPTokens to nxtskys nxt address with a message attached "bettys xcp address:blablabla". Betty waits for the xcp to arrive.

its obvious to most at first the disadvantages of what i just described. Its very complex compared to sending your coins to cryptsy but this is the cost of decentralization and decentralization comes with its own rewards. at some point in the future you will not just be buying any old random token. You will buy the ones issued by the guy who lives down the street so you can go there and pick them up in person.

Thanks, I basically understand how AE works. It can be used to issue asset, and we must trust the asset owner. If the asset owner disappear, the people who buy the asset would lost their money.It is ideal for the issue of shares. but not useful for the average person. Am I right?

that person would have to build up some reputation but if he could do that than it would be useful to him.

nxtsky

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Activity: 56

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Quote from: Anon136 on February 16, 2014, 11:12:10 AM

Quote from: nxtsky on February 16, 2014, 03:04:22 AM

Quote from: Anon136 on February 15, 2014, 11:32:13 PM

Quote from: nxtsky on February 15, 2014, 10:26:43 PM

Quote from: Come-from-Beyond on February 15, 2014, 10:36:28 AM

Quote from: nxtsky on February 15, 2014, 09:56:46 AM

Why I can't issue an asset which name is already exist? I got a error as "xcp" is already used.

It's by design.

I don't get it. As "xcp" for example, Some one has issued "xcp" already. And I have some "xcp" and want to sell it. I can't sell it if I didn't issue it, unless I use another name. Why? I mean all the same thing should be under the same name.

because BobsXCPTokens are a different thing from NxtskysXCPTokens. Just issue them like this NxtskysXCP.

Thanks, as a newbie, I don't completely understand how AE works. Is there any paper used to explain the AE works in detail? The NXT wiki is to simply too describe AE system.

ill just explain it to you right now. Exchanges like nxt, ripple, and mastercoin work with an idea called colored coins. So with a bitcoin any one bitcoin is the same as any other bitcoin. They are what we call fungible. Colored coins are intentionally not fungible. They are intentionally distinct and different from one another. Colored coins have a value attached to them. So for example, speaking in abstractions here, a colored nxt may have the value attached to it of "Nxtsky promises to pay 1 btc to who ever sends him this token, signed netsky". Now that token can be traded on a market.

Lets say betty wants to trade litecoin for bitcoin. She sends litecoin to "hanks litecoin gateway" with a message attached "bettys nxt address:blablabla". Hank will issue "X hankLTCTokens" and sends them to bettys nxt address. Betty uses these to fill the highest bid for on their orderbook thus gaining nxt. Next betty uses her nxt to fill the lowest ask on the orderbook for nxtskysXCPTokens. She sends her nxtskysXCPTokens to nxtskys nxt address with a message attached "bettys xcp address:blablabla". Betty waits for the xcp to arrive.

its obvious to most at first the disadvantages of what i just described. Its very complex compared to sending your coins to cryptsy but this is the cost of decentralization and decentralization comes with its own rewards. at some point in the future you will not just be buying any old random token. You will buy the ones issued by the guy who lives down the street so you can go there and pick them up in person.

Thanks, I basically understand how AE works. It can be used to issue asset, and we must trust the asset owner. If the asset owner disappear, the people who buy the asset would lost their money.It is ideal for the issue of shares. but not useful for the average person. Am I right?

nemabcd

newbie

Activity: 34

Merit: 0

10391254739172632001
I like to try some testnxt,thanks

Topic: [NXT] Decentralized Asset Exchange Discussion Thread - page 11. (Read 31325 times)