Topic: NXT :: descendant of Bitcoin - Updated Information - page 557. (Read 2761624 times)

Idea:

After the release of AE. Making a video with a client of ours to demonstrate all features of NXT would be supercool and would attract many many new users.

Video like this; https://www.youtube.com/watch?v=sZRj7bL7ROs

I think the creator of this video should/can make this; https://www.youtube.com/watch?v=_qi5r9kajDI&feature=youtu.be
With the same voice over.

I think someone suggested earlier to set up an automated TestNXT faucet.


This would really help to distribute testNxt fast......we have to break this bottleneck.

Did a few more servers come up?
Is anybody forging?

James

The plan is to have bitcoind, dogecoind, etc. all running on the gateway servers and all three (or more) that are involved in the transaction need to generate the exact same rawtransaction, down to every bit, before any withdrawals are approved. In order for this to happen, they have to all be on the same chain, which we presume to be the main chain if they are geographically separate

With all account balances reconciled after every block and all the gateways and however made clients (via nodecoin-qt) will provide near realtime detection of any problems. Trust, but verified many times.

I think if the gateways provide a 1:1 correspondence (publicly visible) of deposits to assets in AE (publicly visible), then we can directly trade any crypto asset against each other. With a small NXT API change to allow denominating trades in terms of a specified asset, people could directly trade AUR/BTC within NXT AE. There wont be any need to do complicated secrect publishing for each transaction. I think most people are trading more than one trade per day, if they are trading. Seems much more convenient to deposit what you want to sell, trade, withdraw what you got. Or you could just leave it in the community gateway multisig accts.

I really think we are a single API change away from being able to trade any crypto to any crypto. Just need to install all the bitcoind forks on the servers. We can have each set of three servers just multisig one bitcoind fork. The cold wallet multisig trustees would only need to run the wallets for the big money crypto, probably bitcoin and maybe a few others.

James

A bit more difficult but immensely valuable is to be able to optionally set the denomination in terms of units of another asset. I know the NXTcore cant handle fractions very well now, but maybe while we are changing API, we can put it in there with the understanding that it wont work until NXTcore supports fractions. I hope it can support fractions for assets too!

James

Unless the other block chains are getting downloaded and updates locally by miners on BOTH chains, that can neer happen. Just settle for minimal trust of a gateway with 100% transparency of in-out?

Do I understand correctly that the testnet can now be run on our own NRS nodes when we set the conf correct?


That would be a great improvement indeed, because testnet would no longer be centralized!

I added a few more.

Any idea on proper syntax?

James

AGREE! A comment field would be of great help, and probably not difficult to implement!

Until I can establish contact with the local NXT server, I cant do anything because http://nxtra.org/nxt-client/ is still not hooked up.

You are seeing all the servers? Should I get more up and running?

I just need the magic syntax to send commands to the API

James

Can somebody provide the right syntax to talk to the test network with 8.4e?
I thought we were supposed to use POST, but I get errors for all three variants:

curl -X POST -d 'nxt { "requestType" : "getState" }' 127.0.0.1:6876
curl -X POST -d '{ "requestType" : "getState" }' 127.0.0.1:6876
curl -X POST -d '{ "requestType" : "getState" }' 127.0.0.1:6876/?nxt


James

If David Johnston from BitAngels is keeping an eye on the likes of Counterparty, Ethereum and Bitshares, then surely he is also keeping an eye on NXT. If we can't match Ethereum by getting a dev on shows like Max Keiser then short demonstration videos of each new NXT 'breakthrough feature' should suffice. Good news travels fast.

It would be great if a NXTer could meet up with him briefly in Texas. I'm sure this has been discussed already; I haven't caught up with the thread.

Interesting, you ended up finishing the paper?

I started 25 dedicated servers running the 8.4e testnet. They all have different IPs but at the same data center, so not sure if makes sense to run more.

James

has anyone else that forges from behind TOR noticed that all 0.8.x releases lock up after forging a block?  Seems to work OK if TOR is not used though.  And I did verify that if TOR is used, then any DNS query the NRS makes is not TORified; the DNS query goes out the regular connection.  So its kind of hard to maintain deniability as it sits now.

CfB
Could you add a "comment" field to      requestType=transferAsset
This would really help track things for the gateway
[i am assuming that after a block confirms that I can trust the values in all the fields]

James

I have communicated with Cryptsy regarding the request to change the NXT information page with the following Cryptsy Support Ticket

Hi Cryptsy,

My name is Brian Snyder and I represent the Nxt Cryptocurrency Ecosystem (Symbol NXT).  I am a speaker for NXT at Coinsumm.it on March 25, 2014 and NXT is represented at the Austin Bitcoin Conference on March 5-6, 2014.  Thank you for adding NXT to the Cryptsy exchange.  The Nxt community thanks Cryptsy in advance for changing the NXT information page to accurately reflect the Nxt ecosystem. Please update the information for NXT located at the
URL https://www.cryptsy.com/currencies/view/118

with the information including updated logo located at

https://drive.google.com/file/d/0B_Hq3nkw2xHZcm5xc09DTDAyRTA/edit?usp=sharing

Thank you, Brian Snyder

Here is my proposal on using AE for trading one crypto to another:

Let us assume that we have a NXT asset that corresponds to all the cryptos, eg. BTC, DOGE, AUR, etc. The following example will work with any pair, but for clarity, lets pick BTC and AUR. People who had BTC would be able to do a 1:1 swap for BTCAUR and people who had AUR would be able to do a 1:1 swap for AURBTC. The reverse is possible, these are just trading pairs that lets us use the NXT AE for people to trade. We definitely will need more decimal places in the prices, but the biggest change is that these "swap" assets need to be denominated in one of the cryptos and it usually wont be NXT.

The orderbook would be bids for AURBTC and the asks would be inverse of BTCAUR. This is exactly like forex trading pairs. The market settles on which currency the market is traded in and for crypto when BTC is involved, it is the one that the prices are in. So when a trade is done, here comes the required NXTcore changes!, instead of exchanging the asset for NXT, the asset is exchanged for the agreed amount of the underlying currency, in this case BTC.

The owner of AUR swaps for AURBTC, agrees to trade at 0.1 BTC and gets BTC asset, the other party gets the AURBTC, which is freely convertible to AUR.

I just realized that if we can make change to the NXT API for asset trading to specify the trading to be in units of an asset,then we dont have to bother with all the AURBTC 1:1 swaps! We just directly trade AUR assets for BTC assets and specify that the trade is denominated in BTC. With one simple change to NXT AE handling in the NXT core, we get to use NXT AE for trading any crypto against any crypto that the gateway supports.

This isnt exactly automatic cross chain, but I think it will be what people will want to do, namely trade cryptos. Just one change in NXT API and we can do this as soon as NXT core supports fractions!!

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Now let us say that Mr 47...88 is not satisfied with the above and wants a solution without any gateway involved. In that case we wont have assurance that either party actually has what they say they want to trade, since presumably they are wanting to trade directly from their wallets. It also requires making a crypto to crypto exchange GUI and an interface that prompts the users to locally sign their transactions. Since each transaction would need manual intervention by both parties to complete, I would think that its use would be limited to large transactions only.

I think having the gateways provide an abstracted (and peer reviewed) interface to the external blockchains would allow an AT to manage the transaction process. Something has to interface with the bitcoind and it cant be the AT directly, so I am having trouble seeing how it is possible to do automated cross chain in a totally decentralized way.

************

Unless I hear otherwise, I will assume that Mr 47...88 wants NXT to be able to trade crypto to crypto within NXT. My top solution does that and actually has several advantages over a pure cross chain solution, eg. funds are verified and no need to invoke lengthy blockchain transactions for each trade. I will proceed on the assumption that this is acceptable and that we will be able to make the one change in the NXT API.

James

the same for about two days.