Topic: NXT :: descendant of Bitcoin - Updated Information - page 591. (Read 2761626 times)

You got it!
Each gateway server runs its own bitcoind.
Deposits are handled independently by each gateway and swept into a 2 of 3 multisig acct
Withdrawals require all three gateways to generate the identical rawtransaction bytes, which will only happen if all three bitcoind's are in full agreement as to the state of the multisig acct.

You establish a deposit address and a withdrawal address. This only needs to be done once, but can be done more often.

Now, you have a deposit address that links directly into NXT AE "My Assets". Send coins to the deposit address and they automatically end up inside NXT.

For withdrawal, transfer the coin asset back to the gateway (or issuer) and it will get sent to your withdraw address, automatically. That is assuming that all three servers agree and at least two of them signoff on it

James

P.S. The way it is setup any bitcoind fork crypto can easily be added to the gateway

I think we will always need the NXT hubs, especially to have the ability to handle high TPS. If people lease their forging across all the NXT hubs, then we will have high percentage of the stake forging. With the high TPS, even .01 NXT fees will add up and should be enough to pay for the server costs.

I also envision the NXT hubs running a layer of NXT services (like the gateway), which will also generate enough fees to pay for costs, possibly a lot more.

Alternate models are selling data subscription services that the NXT hubs provide, eg. full blockchain, etc.

James

You're not bashing me at all: you're giving me helpful pointers

I líke the idea of topics ordered according to "school levels".

I won't be able to make the university parts, but I can do the simpler stuff, like explaining why cryptos exist in the first place. That even gives me the opportunity to go into the philosophy behind it, which is fun!

I have been thinking about doing stuff like that anyway, but needed a format, and you just provided it, so thanks!

This is exactly why I like this thread, by the way. This wouldn't have come up if it wásn't such a chaotic place

Is this work on going? seems as though it is a discontinued project.

@Jerical13:

Please use some punctuation, paragraphs, line breaks etc......your block of text approach is doing my nut in.

Like what u say, just break it up a bit....

I think the format of what Damelon is doing is exactly what I was talking about. I read his blogs sometimes when they are posted on facebook, didn't realize there was an ongoing library on this site. There should be a link to his blog on the NXT website. I like how there is an indication at the top of the blog indicating it's topic relevance and in a sense its technical and difficulty level. I would suggest putting info on there that is more basic and descriptive of NX;. Stuff aimed at audiences who are new to NXT or new to cryptos entirely, and more advanced technical stuff aimed at audiences who are in need of that type of info, as an improvement on what he has done. His work is NXT grad student. It would be nice to have Nxt undergrad and NXT college prep and NXT doctoral work in the same location and in the same format as what he is doing, and to have that site be the go to site for info. That would be a perfect example of my meaning. I have read Damelon's stuff as I stated previously and it has helped me, but some of it above my level of knowledge as I am not so indoctrinated, and in his own work he admits his own lack of indoctrination in the highly technical. No offense to Damelon, as his work is really done well. He is a propaganda master. But he is doing relativity and quantum mechanics. There is no Sting theory. There is no Newton. Not a knock to Damelon or a knock to anyone else who has been doing this kind of stuff. It is just that the topic of NXT is so vast. As much as I am in love with the thought of decentralizing the NXT economy as much as possible, I like the idea of centralized NXT information. I guess that is what my point is. If more basic info and more tech info were added to what he is doing, coupled with the format he is using that allows for updating and audience targeting, when someone asked for a place to look to learn about NXT they could be directed there and would have to look no further. They could go there and easily index information at a level that they could grasp with out having to search all over the place, sift through info that they are not capable of understanding or info that is elementary and redundant to them. Information that would highlight NXT to our communities advantage and indoctrinate in the ways of NXT.

Fantastic great job

must encourage any client developer to implement 2 factor authentication


Two-step verification is a process involving two stages to verify the identity of an entity trying to access services in a computer or in a network. This is a special case of a multi-factor authentication which might involve only one of the three authentication factors (a knowledge factor, a possession factor, and an inherence factor) for both steps.[1][2][3] If each step involves a different authentication factor then the two-step authentication is additionally two-factor authentication.
Contents  [hide]

1 Example
2 Google's two-step verification process
3 Other sites offering two-step verification service
4 References
Example[edit]

To provide an everyday example: an automated teller machine (ATM) typically requires two-factor verification. To prove that users are who they claim to be, the system requires two items: an ATM smartcard (application of the possession factor) and the personal identification number (PIN) (application of the knowledge factor). In the case of a lost ATM card, the user's accounts are still safe; anyone who finds the card cannot withdraw money as they do not know the PIN. The same is true if the attacker has only knowledge of the PIN and does not have the card. This is what makes two-factor verification more secure: there are two factors required in order to authenticate.
Note that if the ATM smartcard is merely a magnetic-stripe card it is copyable then the process is only two-step authentication but not two-factor authentication since the ATM is only verifying that the user knows the data encoded on the magnetic stripe (knowledge factor) and presented it in magnetic-stripe form. A smartcard with a chip performs a challenge/response authentication; the information transmitted from the card to the ATM is not the information required to duplicate the card's abilities.
Google's two-step verification process[edit]

Google was one of the first Internet companies which introduced a two-step verification process.[4] To access a Google service using the two-step verification process, a user has to go through the following two stages:[5][6]
The first step is to log in using the username and password. This is an application of the knowledge factor.


The implementation of the second step requires a mobile phone or the Google Authenticator application, which is an application of the knowledge factor. If the user opts to use a mobile phone, he/she has to register his/her phone number with Google. When one attempts to authenticate with username and password, Google will send via SMS a new, unique code to the phone. Receiving the SMS demonstrates that the user knows the phone's IMEI, which is sufficient to convince the phone network to direct the SMS to the attacker.

If the user opts to use the Google Authenticator (or another supported code generator application),[7] he/she simply opens the application, which generates a new code every 30 seconds. This code is to be entered to complete the log in process. As a backup option in case the registered mobile phone or device running Google Authenticator is lost, stolen, or otherwise unavailable, the user can print a set of static single-use backup codes (also the knowledge factor) and store them in a safe place.

I am on 0.7.6 now (started from scratch) and yes, I see the block. I made a new transaction 30 minutes ago but it still has 0 confirmations. Current block is: 11581245883045947843 - I already restarted the browser but still 0 confirmations. DEBUG says: "Accepted new transaction 15118414472819469314" - but that's already 40 minutes ago.

Nice vid,9 minutes watched and enjoying it.

In the description text you mention,nxt could be attacked by buying 51% of the coins.If Transparent forging runs as expected,you wouldn't manipulate the blockchain even owning 90% of the coins 

Welcome to the thread

Nice to see new people coming in and taking the time to introduce themselves.

Looking at the video now.

Hi guys

Congratulations with NXT! Really great job of you all!

I made a video why I invested half my bitcoins into NXT. Hope u like it.

http://youtube.com/watch?v=ruYAxKeWxnM


(I'm an early investor in Bitcoin, see all my video's here: http://www.youtube.com/user/Marcdemesel/videos?shelf_id=1&view=0&sort=dd)

I've emailed the owners of the site he's linking the image from.
I hope they catch him and I hope its somewhere where its illegal...

Same here. First ignore on this forum.
This truly is a memorable day!

First time I tried 'Ignore'. It works
That guy had posted his personal hobbies to several crypto coin pages. Possibly he has some pain ... hate against other coins.

Try out 0.8.3 an re-download the blockchain from scratch.

Check that you have that block: 7573868954311477975

Yes, BTT. Can someone explain what exactly happens, when a transaction is "cancelled", because when sending the NXT I was on a fork? Is it like the transaction never happend? So, I can use 0.7.6 now and do the transactions again without hesitation?

Back to topic.

Made me laugh, it's ok 

Ewwwwww  Can we change the subject.....

Yeah, that would suck.


Sry.