Topic: [NXT] Decentralized Asset Exchange Discussion Thread - page 5. (Read 31325 times)

can someone explain what are the big difference between nxt asset exchanges and xcps or mastercoins distributed exchanges?

despite running on your own chain, with a smaller confirmation time?

Sorry, I confused you there. James isn't involved with what I quoted, he won't know about it but may be able to answer none the less. The OP for that can be found here: https://bitcointa.lk/threads/ethereum-maidsafe-nxt-anything-else-worth-investing-in-in-2014.303978/page-2

It is one billion per asset, a person can issue as many assets as they like. Once the number is issued, it can't be chaneged for that asset. You can also read the Asset Exchange subforum here for a lot of background: https://nxtforum.org/asset-exchange/

Finally, you can also try the asset exchange yourself to work out the mechanics of it here on the testnet: http://nxtra.org/nxt-client/.
PM me your account number and I'll arrange for testNXT to be sent to your account.

We were the sponsor of Dogecoin. But it's fun things like that I love about BC. I don't think anything "big" in terms of what NXT is doing. BC is heading a different direction focusing on awareness, merchants, and exchanges. But I wouldn't be surprised if rat4 or "I forget his name" so I'll call him Community Manager or up to something. And then of course there's Iconic. I think a lot of people secretly love his "gray area" tactics but don't want to say on forum. He's our wildcard.  

Apparently having higher inflation is the "newest" thing. BC 1%, WC 2%, Yellowcoin & Cinni 3.5%, I think Bluecoin 3%. I just let those groups argue what is better.

Right now I'm spending most of my effort figuring out what the hell to do with my WC investment.


Disclaimer: My reading comprehension might be totally off today about the following questions. :/

Thanks for taking the time to do this, James. But what you said is like "Woosh" It's all too technical. So I buy 1 license for (1 NXT is $0.02) for $20? And where does this $20 go? Can these licenses be traded? Can it be refunded or parameters changed if no buyer matches?

So then I have an asset license of "Selling 1 LTC for $20". Then I wait for a match. Is that automatic or do I have confirm manually later?

Max Asset quantity 1 billion is per person? And it can be refilled to 1 billion?

Thanks James  

While I am here, for anyone wondering what Asset Exchange will do, here is a real world plan for once it is launched  



TL:DR   Software key issuance and management can be done on AE. Cheaply and securely. RE: asset quantities, the maximum Asset quantity that can be issued is 1 Billion.

Hello. I will try to answer your questions.

crypto deposits to multigateway will automatically credit your NXT account with the corresponding NXT assets that represent that crypto. This asset can then be freely traded within the NXT AE. Whoever ends up with it can then withdraw the asset to their designated crypto wallet.

Peercoin and its forks dont currently support multisig, so cant support them with the multisig protection.

There isnt a single large sweep account like most centralized exchanges have. Instead, each user gets a customized multisig deposit address. The only way funds are allowed to be withdrawn is if all three multigateway servers agree 100% on the transaction. Assuming there are no troubles, withdraws should be automatic, but it is quite possible that some manual intervention will be needed, especially at the beginning and for large amounts. However, with all of the funds spread out across all the accounts and each with multisig, I expect they wont be a very attractive target for hackers.

So, the concept is similar to ripple, but instead of needing to trust the gateway to not lose your funds, multsig accts that are publicly viewable allow people to verify that the multigateway's total deposits matches the total issued assets.

James

No problem! How goes it in the BC thread? Has there been any of the planned super secret features announced yet? Snoekip and Rat4 might do something (they are unknown quantities to me) but that dzirberm (sorry for spellings) is just blowing smoke   If they do launch anything, they will be paying catch up   But let me know if/when anything big comes out.

You should read about the monetary system on nxtforum, coins can be based on the Nxt platform too. I'll stop rambling but BC could basically be secured by Nxts blockchain as well as any other crypto. Then the inflation wouldn't be needed as an incentive to stake (known as forging in these parts  ).

Thank you for this. I hate to be the guy who doesn't sift through all the info for answers. But I'm trying at least! :/

I have asked James, the guy who runs the multisig subforum I Pm'd to you, to drop buy with an up to date and most accurate answer  

It is feasible to have tokens on the Asset Exchange directly for anything but trust in the issuer will be required. James' work is built on the asset exchange but he has been working on cross chain transactions so LTC/BTV might be available at launch or soon after. James projects move fast and are co-mingled so it is quite hard to keep up so he is always the best person to ask 

Have you read anything about InstantDEX yet?

Hi. Sorry trying to catch up in this thread.

Will the Asset Exchange be fully automated exchange in terms of cryptocurrency?

I want LTC for USD or LTC for BTC?

From what I've read it works like Ripple but without Ripple tokens? Does this even use NXT?

roughly 2 weeks left. The buzz will start soon...

Yup, it is due tomorrow.

^ I just posted there a simple command sequence that works for me in Ubuntu in order to 1) Install Java, 2) Install the basic NRS software, 3) Get it running.

In any case, I've heard there's a new (experimental, if you want) NRS version including wesleyh's client interface coming out anytime.

Sorry to hear about your troubles. Please follow this thread and someone will probably help you momentarily:

https://nxtforum.org/index.php?topic=806.msg12385#msg12385

I use the "official" client and once that is set up with the proper Java thingy, it's very easy to use. Everything is managed through your web browser, which connects to the Java program running locally on your computer. Eventually, you will just have to download the zip file, unpack it, then double click on "run.sh" to start the program. Then launch a browser window and go to http://127.0.0.1:7875/

If you have more questions, please post on the Nxt forum or in this thread.

I don't think has been ported across yet. Try offspring, it is quite popular I think and the functionality is the same.

Block 135,000. It is in about 17 days there is a countdown here http://www.nxtcommunity.org/

It will be a big milestone in the crypto world, it enables so much more than an exchange

Is the Nxt Wallet (official NXT client) also available for Linux?
On http://nxtclients.org/ I found only downloadable versions for Mac/Win.

I believe ~3-4weeks.

I can seem to find a good answer for this. What is the ETA on the asset exchange? I see this as the next major developmental milestone for NXT.

I definitely want to buy a couple of these coins.

Can I have test nxt? 

10443250249692031652

Thanks