jl777,
in my estimation you are 100% correct. If you have the ability to let people use your platform for not only your own token, but also everybody elses than that is the most utility you can provide, which will add the most value to the currency. The gateway sounds great, how much trust are you having to retain centrally?
Have you tested the counterparty wallet, and issued a few assets? You can issued dividends to an asset in Bitcoin, XCP or ANY USER CREATED ASSET - This is huge, it fixes the voting problem too because you can just create an arbitrary asset called 'VOTE999999", issue it as a dividend to all holders of NXT on 1 1:1 basis, and it's a one time use-it-or-lose-it issuance.
One thing I noticed is NXT asset exchange is way behind counterparty, they have dividends, callable assets, info pages for assets and other convenient or really useful abilities.
I'd really appreciate a supportive post from you on the NXT thread! That would enable me to fully realize the potential.
My design for the multigateway distributes the multisig to any three gateway servers, potentially for each account for each coin. That seems overkill, but I could make it so that three random servers are chosen for each user deposit acct to be the multisig signers. For any given withdraw, consensus needs to be reached before any of the signers will signoff. I can have the consensus pool be from all the servers, though that would be overkill as I have 180 servers.
For now, it is simpler to just have three servers doing all of this, but it is just a matter of getting all the servers setup. Also, key factor is that the servers can (should) be managed by independent gateway operators. Ideally, three competitors. That way, collusion is minimized. If only, bitcoin supported more than threeway multisig, I could increase the security.
I am just tired of all the mtgox, poloniex and now virecurex events that does nothing but erode confidence in crypto. We all lose when stuff like that happens. multigateway is my solution.
I was planning on bridging NXT AE with XCP Dex so people can transfer corresponding assets between each exchange, to wherever the best liquidity/prices are. That also gets all of XCP features added to NXT assets and all NXT features added to XCP assets. Seems like a win/win, especially since I did burn a bunch of BTC
I am also in the DRK camp and will be integrating NXTmixer and NXTcash with DRK so that people could send BTC into multigateway and via DRK send -> NXTmixer -> NXT AE -> BTC paper wallet. There would be a way to anonymously create paper wallets.
My assessment is that all of these distributed exchanges have no actual value until they are combined with external things. That is why I concentrated on the gateway functions. I can easily add most desired features on top of the NXT protocol platform layer I am writing. As you have noticed the NXT core is, well, pretty low level. NXT protocol abstracts all the NXT core details and allows people to quickly create their own NXT service.
For example, I wrote nodecoin in an afternoon and that was before I had the full NXT protocol platform layer. Dividends for assets doesnt seem like a complex function, I will add it to my list.
What other functionality is critical in your opinion? I am making half a dozen (maybe now a dozen) reference implementations of using NXT protocol.
jl777
Sounds really interesting. Take all the functionality that XCP has available for user created assets, incentivize good wallet.dat style locally-encrypted really-crazy-impossible-to-crack-private-key options so people like me can feel safe someone won't typo into accessing our account.
I think nodecoin is a really fascinating idea, I have been thinking about this too. the real problem with mining OR forging is that only one node determines consensus, and so only one node can be rewarded. Bitcoin at least has a decent block reward since its a distribution mechanism, NXT does not have that. What you could do is create a sub-asset on the network that is created by miners as a secondary, inflationary token which the network will then honor in some kind of way (like to pay fees, instead of using NXT) - So the miners mine an alternative token that can be used to pay network fees, which makes it valuable without diluting NXTs value. If you can figure out how to do the single-transaction-pays-dividend-to-all-asset-holders problem as XCP did, you can solve the mining contentration problem and make it so people will mine even if they never hit a block because they get paid just for the effort.
