Topic: SuperNET updates - page 2. (Read 23699 times)

Actually when one considers that his was a response to someone who is in this tread only to troll - his reply seemed quite classy and civilized to me. Now run along home son.

I love the strategic way James is going about picking coins...
Often raising the question, "Why pick this obscure coin with a $70,000 micro-cap"?

Because he is stockpiling ELITE DEVS that he can work with (the most scarce resource in crypto)...
Or tapping a Chinese VPN coin or something else very unique...

But mostly it's the DEVS, baby.

Who from SuperNET was trolling Blocknet threads? Only person I remember somewhat regularly posting in them was EvilDave and he's more of a Nxt guy in general and I don't specifically remember him trolling, but it's possible he could have said something along the lines of what you mention.

You shit in this thread trying to shill for blocknet and steal some volume from supernet (good luck anyway  ), and then bitch about maturity when your rightly told to piss off.

Bitch please.

I don't think Apenzl understands english that well. Or yourself clearly. Several supernet holders trolled Blocknet hard, calling it a scam that wouldn't deliver anything. Yet Blocknet has started delivering. And all those claims have suddenly gone quiet.

I didn't say Blocknet was further ahead with development or try to imply that.

Great maturity and intelligence from the Supernet community once again. Keep it up guys, very classy.

great newsletter once again! ty

SuperNET Newsletter #11
            
Welcome to the SuperNET!

This newsletter is shorter than usual, with the holidays getting in the way. Still, of course, there are some exciting developments…

Topics

v1 client
JLH - The Lottery
- more on JLH
The jl777 Bonus
Opal client
- OPALTKN dividend sent
VPN SuperNET client
- MGWcoin asset dividend?
FinHive
Pangea
Freemarket bounty
SuperNET Bug Rewards
Development Update
- 95% done
- The MGW bridge
- And so it begins...
Community and marketing
Happy New Year
SuperNET related links

v1 client

The SuperNET v1 client is nearing BETA release. ETA is January 2015.

v1 is a huge undertaking, with some 50+ API calls (and growing) to be integrated. Since it is unrealistic to release them all at the same time, there will be varying levels of ‘ready’ - coded, tested, GUI-integrated, fully documented, and so on.

James hopes to be mostly done with coding core functions by the end of the year, but this all depends on coverage of regression tests, unit tests and results of testing. Get involved in testing if you can! Contact Azeh for more details.

Eth explains, ‘The dev team has been working really hard through this holiday time in order to release the beta version 1 of the client before the year ends.

It will be improved on a weekly base – Meaning every week we will release a new version with noticeable improvements based on intensive testing and the feedback from SuperNET community.

We aim to cater a wide audience, therefore the basic GUI module is very intuitive and simple. Anyone that is not used to deal with crypto will be able to use it with a minimal learning curve. For those veteran crypto users, we have an advanced version based on the NXT NRS dashboard that will ensure access to deeper control and analytics."

JLH - THE LOTTERY

A lottery has been announced. For each 100 jl777hodl bought from the NXT-PY3K-SDTG-PHTV-GLYDA account sell wall on NXTAE, 1 lottery ticket is issued.

JLH has asset ID 6932037131189568014. Only assets bought from the GLYDA account are eligible.

Prizes will be paid to 3 holders: 100,000 NXT for 1st prize, 50,000 NXT for 2nd and 25,000 NXT for 3rd. Anybody has the same chance per 100 JLH, whether they buy 100 or 10,000 assets. The lottery will include historic purchases (from GLYDA), with the eligibility period stretching from November 1 to December 31.  

James writes, ‘With the fiat value of 100 JLH being around $6, it is a pretty good payout ratio for the 100,000 NXT prize and everyone is basically getting three tickets per 100 JLH! This is because you can win all three prizes with just one batch of 100 JLH.’

Winning tickets will be randomly selected via the SHA256 of a random phrase selected early in the process. Based on James' Telepathy protocol calculation, the closest buyer's txid will receive 1st prize, and so on. Ties will share the prize for the place won. Prizes will be award during the first week of 2015. Measures have been taken to avoid gaming the system, and if you sell from your GLYDA batch, you will lose your tickets.

There are currently JLH shares for sale at a lower price than the GLYDA sell wall, so be sure to buy from NXT-PY3K-SDTG-PHTV-GLYDA if you want a ticket to the lottery.

More on JLH...

As announced in the previous newsletter, JLH will be the reference asset for InstantDEX asset trades.

A new JLH newsletter will focus on the JLH asset. You can read an introduction to the asset, the team and the JLH market making here: http://nxter.org/jlh-jl777hodl-description-and-introduction/

Also, libertynow writes: ‘There will be monthly bonuses starting in January. After the massive dividend lottery the monthly bonuses will be for all shareholders and will come from NXT dividends of underlying assets.’

The jl777 Bonus

As part of the ICO process, two bonuses were agreed for James via a vote. These were designed to reflect the time, expertise and assets that he put into SuperNET. If the market cap of SuperNET tripled before the end of 2014, James would receive a 5% bonus 40,803 UNITY). If it went ten-fold by the end of 2015, he would receive a further 5%.

Despite an impressive run-up, the wider crypto bear market means it is unlikely that the UNITY price will reach the required threshold for the bonus to be paid (0.0234; for current UNITY price see http://coinmarketcap.com/assets/#BTC).

However, if the threshold is reached, James has said he will share the UNITY amongst those who are most active in making SuperNET what it is and will be:

### My calculation shows 0.0234 as the threshold and really, not much chance of this happening at this point so no sense in getting all worked up about it.

However on the off chance that it happens, I would like to share the bonus with everyone that has helped SuperNET to get to where it is. There are 300+ people in the SuperNET slack now, a large number of them working really hard and while I was critical to get the SuperNET started, already I am becoming a small part of the big picture.

In the unlikely event the 0.234 threshold is hit, I am giving it out as holiday bonus to the SuperNET contributors.

The allocation will use a decentralized process. First round of voting to determine each person's "weight" and then a second round where each person allocates the portion of the bonus (calculated by their weight) to 3 to 5 people. The process itself will be finalized via community consensus, or lacking that even another vote to determine what method to use to do the allocation. I do not want to do any arbitrary bonusing as with 300 people in the slack now I dont know the exact level of contribution from most of them as I am spending most of my time coding and answering questions. I am not a micromanager.

So investors should be happy that the key contributors as determined by the community will be getting the largest bonuses

I believe this makes for a happy community, which in turn will create a better SuperNET.
###

If a tripling of the SuperNET market cap is NOT achieved by the end of 2015, the 5% bonus will NOT be paid out but become a part of the SuperNET working capital.

You can read about the rules, the bonuses and the asset holders’ vote in the ICO summary in SuperNET Newsletter #1: http://nxter.org/supernet-newsletter-1/

Opal client screenshot

http://www.opal-coin.com/news/2014/12/supernet/



OPALTKN dividend sent

3 million OPALTKN have been dividended out - half to NXTventure holders, half to SuperNET holders.
This is in addition to the previous OPALTKN giveaway, as mentioned in the SuperNET Newsletter #10.

SuperNET added to VPN coin wallet

SuperNET has been integrated into VPN’s wallet: read further at https://bitcointalksearch.org/topic/m.9888667



MGWcoin asset dividend?

James has announced another possible dividend - of mgwVPN - the exact date is to be decided.

The mgwVPN dividend is a completely new type of SuperNET dividend as it will take the form of a MGW asset. ‘That will be a first for an mgw-based dividend and allows distributing a crypto to people who don’t even have the wallet for that crypto.’

FinHive

FinHive has a new logo, created by eth - you can read more here: http://finhive.com/fh_devmon.html

Pangea

Pangea has been listed on coinmarketcap. It is currently number 9 in the asset list: http://coinmarketcap.com/assets/

You can find out more about Pangea on YouTube:
https://www.youtube.com/watch?v=uwc9kQUoSNA and https://www.youtube.com/watch?v=rULrkZFuBBE

Release is still some months away, but testers will be required in due course.

Freemarket app bounty

blackyblack is offering a reward for anyone willing to implement a Freemarket plug-in using MyNXT.info’s system. ‘This task requires a modification of FreeMarket UI or building it from scratch like it was made on the freemarketlite. It also requires a hosting for FM core since mynxt.info does not use 3rd party software on their servers. This task is very similar to freemarketlite.com service. Hosting expenses will be paid by Freemarket funds.’

Contact blackyblack via Slack or PM if you are able to help. The reward is 2,000 Freemarket shares.

SuperNET bug rewards

Finding bugs in the SuperNET API is a critical part of ensuring it is robust and ready for release. There are rewards for successful bughunters. Previously, a set number of UNITY have been shared amongst bugfinders. From next week, this will be changing to a points system. ‘At the end of the week each participant’s points will be divided by the total points for the week and based on this will receive their percentage share of the weekly pot.’ Major bugs win 10 points, medium ones 3 points and small ones, 1 point. The total pot of rewards is as follows:

Week 1 (12/2-12/8): 100 Unity
Week 2 (12/9-12/15):150 Unity
Week 3 (12/16-12/22): 200 Unity
Week 4 (12/23-12/29): 250 Unity
Week 5 (12/30-1/5): 300 Unity

If you want to participate, please contact Azeh.

Week 3 Completed

Payout: CryptoSleuth 89.65 Unity; Lemonhead 68.97 Unity; Youyou 41.38 Unity

Development update

95% done

SuperNET core functionality is nearing completion! James writes, ‘95% of the core is finished. Debugging is the main thing left.

‘Finally got the DB MGW to sync using SuperNET API and get consensus and calculate all tx it needs to do in a few minutes runtime. So now it is a matter of debugging the bridgenode, and some interface stuff like realtime deposit addresses. Then all the coins can become mgw coins and this will allow for all sorts of magic...

‘With 40,000+ lines of new code… design review is in progress, some people are informally looking at the code, GUI is coming along… so like a turtle things proceed forward, and this is with several weeks delay from doing the DB MGW this month.

‘Next is InstantDEX and MMatrix. I will get the autoconvert working via MMatrix. It won’t be full InstantDEX, but it is what is needed first. Then as that goes into the long test cycle, I complete the InstantDEX, then the Teleport, then the Tradebots.’

‘It’s quite tricky to get the MGW, InstantDEX, Tradebots, Teleport and Telepathy all working simultaneously. So the final connections, debugging, debugging and more debugging. But now we have more API testers this will be quite helpful, especially automated tests.'

The MGW bridge

James writes,

‘I have pushed new versions to the dev MGW servers and the bridge for mgwBTCD. I have tested realtime deposit address generation, deposit recognition, deposit triggering an asset transfer (and publishing pubkey), withdraws being detected and also withdraws being processed when all three servers are in total agreement. ‘

‘The bridge is now bidirectional, there is an HTML backup, realtime address generation is ~10 seconds, realtime status is ~10 to 30 seconds.’

And so it begins…

Last comment today, before 'will be resting':

'I deployed a fully automated on-demand DB MGW for BTCD. It will generate a multisig deposit address in realtime and you wont need any NXT to bootstrap an account as the first MGW deposit will be partially converted to NXT as it sets your pubkey.'

'By sending at least 0.1 BTCD to the deposit address, it will fund your account at 100:1 ratio with a 2 NXT fee to cover tx costs. if you change the "convertNXT" field from 10 down to 2, then it will only use 0.04 BTCD. Min deposit is 0.05.'

'When the servers see that there are pending deposits or withdraws and all three are in agreement, it will get processed.  This is 4000 lines of "new" code, it used to be closer to 10,000 lines, but I streamlined it and rewrote most of it this month. The big improvements are speed and ability to get status. It is also a specific use-case for a SuperNET application.'

Community and marketing

Although James has been pivotal in the creation of SuperNET, it is his aspiration to be able to step back from this ‘central’ role once the main tech has been completed.

‘Now, what people tend to do is put the entire SuperNET into the "jl777" category. While it is true I started it, I have always said I am just the guy who gets the ball rolling and the community is what will create the SuperNET. Back when the community was 10 people, maybe this was something people didn’t put much value in, but look at the number of people, up to 300+. That is a LOT of people and I am seeing wonderful things! There is a spirit of cooperation between all the coins. I had a vision about this and it is happening like I saw, but I never realized the timescale. I thought I was seeing something many months ahead, but it has been really several weeks from when things started going crazy. This bear market is quite a torture, but in a way it is making people realize the stability of SuperNET - that it is a safe haven.’

There is a pervasive ‘zero-sum’ mentality in crypto: that in order for one coin to succeed, others have to fail. One of the reasons SuperNET was created was to address this. ‘The SuperNET concept is a filter that makes the zerosum people reject it, so we get the people who believe that cooperation is the key. As it grows, people who believe in dog-eat-dog will start to want to join as it will give them a competitive advantage over others… hopefully the SuperNET spirit will be able to overcome their tendencies. We have so much to build and it will be hard enough with perfect efficiency. Except we are pretty picky about who can join, and a lot of the rejects went and tried to make a clone...

‘Once the SuperNET is fully functional, the all the spiral arms of the galaxy can be (will be) put in place automatically by everyone that uses it. This is what I saw too, but 99% of this is not me at all.

‘On the financing side people are realizing they get a lot more than 2x the value by joining with SuperNET, so this is a very good way to add services and a good way for service companies to be able to just develop the tech. Since most of the cost of a new business is customer acquisition, this part is a big short cut. When the SuperNET starts spitting out the dividends, this is when the really crazy gravitational force things will happen.

‘So, as you can see, all the crazy fantastic things I wrote about the SuperNET are coming true, one by one. Soon it will be time to actually marketing this. I do have some experience in that field, but for now gotta finish the tech… premature marketing is not a good thing.’

‘Happy holidays peoples! things are really coming together! once we get the multiwallet++, then getting the InstantDEX and Teleport hooked up will be next, but even without that the v1 release will be quite cool.’

Happy New Year!

A very big thank you goes to James, and to everyone working so hard to make SuperNET such a ground-breaking force in cryptocurrency.
Wishing you had a very Merry Christmas and looking forward to an exciting 2015,

The SuperNET team

SuperNET related links

SuperNET Slack web-based IRC client: http://irc.lc/freenode/supernet/

Almost all slack channels are linked with irc channels, which can be joined via an IRC client or web-client at http://chat.supernet.org. The channel list is there as well.

5000bitcoins managed to get the SuperNET ANN thread on BitcoinTalk back into the ANN section.  
This gives SuperNET a publicity boost, and may have contributed to the recent price bump. https://bitcointalksearch.org/topic/ann-supernet-nxt-asset-12071612744977229797-supernet-kmd-assetchain-in-summer-762346

+ the usual… See recent newsletters: http://nxter.org/category/supernet-newsletters/ or… http://www.supernet.org/en/news/newsletter or… https://bitcointalksearch.org/topic/supernet-updates-830942

Author of SuperNET newsletters: NXTER MAGAZINE: http://nxter.org

rofl, pwnt.

Your retort, mr_random? 


Didn't think so.

I don't know. I don't know them.

But welcome to the SuperNET update thread. 

10:29:51 damn blocknet
10:30:47 they pinged between two nodes, and make a press release that they are the first?
10:31:05 that level of function was back in July, i just didnt think to make a press release for it
10:32:26 actually they say "blocknet first" so one could think they mean it is the first time blocknet itself did it
10:32:35 and not blocknet as first project at all
10:32:55 we have realtime MGW cluster on a private supernet (even with a soft-firewall) processing deposits and withdraws (still manually) and connecting via a bridge node to the main SuperNET network using a PHP web URL to bootstrap new accounts automatically.
10:33:13 (at least in the few articles i read)
10:33:28 the blocknet language was purposefully ambigous so they can claim to have meant that, but the impression is they are leading the tech in this space
10:33:54 when all I see is that they repurposed some demo DHT code (but they missed a few comments to remove)
10:34:17 i dont mind competition at all, but when they are making misleading things, it makes me a bit upset…

I hear BlockNET are finally on Slack too?
You can join the public SuperNET Slack channels here: http://chat.supernet.org. Or PM me to get an invite.

post from Sep just so blocknet wont make a press release claiming they did this first: https://bitcointalk.org/index.php?topic=762346.msg8893387;topicseen#msg8893387

Is there a date for the main net launch of the release version?

Blocknet alpha release available on github now has inter blockchain communication working: http://cryptorss.com/news/dan-metcalf-releases-xbridge-alpha-version

Can all of the supernet holders who trolled the Blocknet project as a scam which wouldn't deliver apologise?

JLH LOTTERY

Nxt Asset Exchange: jl777 (asset ID 6932037131189568014)

SuperNET Newsletter #10

Welcome to SuperNET!

Links:
http://nxter.org/supernet-newsletter-10/
http://us9.campaign-archive1.com/?u=eae7d500e24dcdb21b359fccf&id=2e88cee12c



As the end of the year approaches and the launch of v1 gets closer, developments are gathering pace - and so is interest in SuperNET. Once again, we have lots to report.

First up, a brief announcement that people have been asking about:

BTer has finally sent the last two dividends, SkyNET and Pangea, and they have re-enabled UNITY withdrawals. We recommend that anyone keeping UNITY on BTer withdraws to a NXT wallet - ideally the v0 SuperNET wallet available from http://multigateway.org. This not only gives you full control over your assets, but enables more reliable distribution of dividends.

You may also be aware of rumours of a pump and dump ring that has been operating on BTer, with some unpleasant accusations about threats made against other parties. Whilst it is not clear who is involved, it is always safer to keep your funds off-exchange. Now let’s talk SuperNET.

Topics

New CORE coin: VPN
SkyNET
- The early bird SkyNET SALE
Remember tradebots?
InstantDEX
- BTCD: Reference currency
- JLH: Reference asset
- Market making JLH
MMatrix
OPAL
- Wallet update
- OpalTKN
- OPAL/jl777 teleport project
VRC update
BTCD revenues
Coinimal
Development update
- Infrastructure update
- Sportsbet
- Bug hunters required
- SuperNET compiled on Windows
SuperNET related links

NEW CORE COIN: VPN



A new core SuperNET coin has been added: VPN. James writes: ‘The new coin is not like any other I have seen. In fact it only runs on Windows, of all things, but this adds Windows expertise to SuperNET. More importantly it is a coin that is the doorway to China as it is done by a Chinese dev team. Now, have you heard about the Great Firewall of China? People there aren’t supposed to be able to use Google but there is a technical trick to allow for this. Yes, it is called a VPN. The new coin is vpncoin, also bitnet. This is a doorway to the China market for SuperNET. Do not underestimate this.’ See further here: http://youtu.be/1u6a0xyCjrA

Here is VPNcoin’s ANN from bitcointalk. James’ commentary below:

###
I am not sure the marketing distinction, but we will be porting the vpncoin GUI to ride on top of the SuperNET API for comms. which they currently just use the bitcoin messaging
now with some help, it should be possible to get this VPN functionality for unix/mac

Oh, did I mention that as part of this deal, SuperNET will be handling a 50 million VPN rewards fund? This will be for the supernet slackers who are helping the bitnet and probably a dividend to SuperNET/NXTventure holders.

Did I mention that 600M VPN (that is 60% of current supply) will be burned this weekend? And SuperNET also receives for its acct 47M VPN.

60% of total supply burn + 10% being assigned to superNET = 70% out of market

The bitnet team is small and we need to help them fully integrate into SuperNET. To complete the deal the bitnet team will be getting 1000 SuperNET assets, so the SuperNET it is receiving a big discount and the expectation is that we will help them.

they have TOR / voice / chat / video / irc / VPN / HTTP Server

currrently 1 billion, 600M burnt, 97M to SuperNET with 47M long term HODL and 50M for SuperNET slackers that are helping integrate VPN, dividends, promotions, dev team has about 50M, and 60M is a long term reward for nodes. There is only ~200M public float now, but the 50M for the improving and 60M for node rewards will take time to hit the market. So to preserve marketcap it is 2.5x being price neutral, but probably a bit more due to the extra 50M that would reduce the basis. Like I said, this one is not easy to do, need to evaluate based on market cap and of course the CMC number is all wrong...
###

SkyNET

SkyNET (asset id: 6854596569382794790) has made a deal with FinHive (blockchain agreement txids 17121561730737863232 and 8809916241760899104):

1. FinHive has made an agreement with SkyNET to become a wholly owned subsidiary of SkyNET
2. In exchange for 45% of SkyNET and 4.5 million NXT, FinHive will work on the referenced plans
3. All future revenues from FinHive operations will flow through SkyNET
4. Revenues in excess of operating costs will be distributed as dividends to SkyNET assetholders
5. Referenced plans: http://finhive.com/roadmap.html

‘FinHive intend to develop efficient trade-strategies and algorithmic-trading, by utilising the full depth of all generated analytics and AI results. It makes sense for FinHive not only to share but also to use new detected (unknown) market patterns, formations and other unique entry/exit signals for algorithmic-trading... It isn't discussed how this will be organised later but the first step now is to generate the analytics at full depth and form a solid subscriber base. Information advantages will be monetized right after.’

This is a highly ambitious and exciting project, and it is no surprise that the asset has already gained a lot of interest. The concept is to reach out into the world of real-world trading as well as crypto, bringing revenues back into the crypto economy. Developer nexern writes: ‘As far as I know, no one has built something like this on this large scale before. There is a pretty big market for financial analytics/algorithmic trading and the goal is to enter this external market, generating a constant revenue stream for SkyNET and its shareholders. Merging crypto and traditional finance resources is promising.’

‘The tech and data is available and tested. Dev resources are already allocated and I don't expect any real problems developing this beast. Sure, the workload is huge, because nearly all components are custom-built at low level but that's all been taken into account. It is quite clear to us, we are building something big and unique here.

‘On the roadmap, sorry for the laborious English but as a non-native speaker it is difficult sometimes to express as precisely as desired. In case you have any questions or suggestions for improvements, I am here to do my best to answer them.’

Project preparation is under way and regular updates will be provided. ‘A dev blog is set up to provide general status information and updated progress details on each dev section. The first one, as seen in the roadmap, is the data-cluster and data aggregation. To make the development transparent, shareholders can not only monitor the progress but also view and test completed components. A webdesigner will take care about a shiny layout later.’

This happens to be an area of interest and expertise for James, who writes: ‘I spent 4+ years optimizing SVM [Support Vector Machines - pattern-recognition algorithms], and making useful features from forex price time series. nexern is proven dev, also proven ethics. Combining his NN [neural net] stuff, which would have been decent, with my SVM, well... I expect to have some quite profitable signals being created and transmitted to the Tradebots. Also, the space for SkyNET is not limited to crypto markets. I put in 3 million NXT of SuperNET funds, I also bought in the open market.’ (see below)

The early bird SkyNET SALE

An early bird SkyNET sale was announced on the forums (NXT price speculation thread, BTT SuperNET thread and SuperNET forum) as well as Slack. SkyNET assets were available to medium-to-large investors (typically 50,000 NXT and upwards). The minimum investment was specified to avoid the administration of many - perhaps hundreds - of transactions being required. In response to questions from those who missed out (the offer was oversubscribed very quickly), James writes:

‘I did post all the details. This was a fringe benefit for the most active SuperNET fanboys as I really appreciate all the hard work they are doing in constructing the SuperNET. SuperNET made 3 million NXT investment at 15 NXT each. As a reward to SuperNET contributors I allowed them to piggyback at same price. (yes, I know I am basically giving away free money, probably a few millions NXT worth, but gotta reward the fanboys dont I?)’

Therefore a total of:

300,000 SkyNET have been sold at 15 NXT
75,000 SkyNET were dividended out to SuperNET assetholders
75,000 SkyNET were dividended out to NXTventure assetholders.
Of these last 75,000, InstantDEX received about 30,000 (since it owns about 40% of NXTventure). These were passed through to InstantDEX assetholders, since InstantDEX has no specific need of them.

Remember Tradebots?

SkyNET/FinHive’s tech will be used for tradebots (NXTcoinsco). The tradebots asset manages tradebot ‘leasing’. The idea is that individuals create tradebots and allow others to invest in them on a profit-sharing basis - if the tradebots are successful, investors will receive a slice of their income. This operates like PAMM (Percentage Allocation Management Module), where investors allocate money to specific traders and share in their successes.

Tradebot creators can choose to pay for SkyNET data, and SkyNET itself is expected to be behind many, many different bots. Investors will look at the historical performance of a bot, meaning that the best strategies rise to the top; unlike normal forex markets, the tradebots will only make a charge to investors if they produce profits.

The incentives are therefore in place for designers to create successful bots, not simply convince investors to back them. Bots and designers with a strong track record will naturally attract greater investment.

InstantDEX, BTCD and JLH

Work on InstantDEX, the system that will enable near-realtime crypto trading, continues.





Generally in cryptocurrency trading, prices are quoted relative to BTC; Bitcoin is still the ‘reference currency’ since so many people use it. It is like the USD of crypto. The idea is to make InstantDEX look and feel like a regular exchange so that traders see something familiar, but under the surface, something very different will be happening.

BTCD: reference currency

Instead of using BTC as a reference currency for InstantDEX, James is using BTCD. There are various reasons for this, ‘some technical, some financial’. Key to trading of any kind, and to InstantDEX’s aims, is liquidity.

‘So all the SuperNET core coins they will have liquidity and low spread conversions between each other (and BTC) and be priced by default against BTCD. Of course, anybody can set things up however they want but the default for the orderbooks will be BTC for "normal" trading and if you are wanting telepods or best conversions between them, it will be BTCD. This I think solves the transition for traders and gets them into the SuperNET trading.’

In other words, all trades will go through BTCD: a DOGE -> LTC trade will really be DOGE -> BTCD -> LTC. One reason for this is that it requires liquidity for far fewer trading pairs; instead of ensuring that DOGE <-> LTC has liquidity directly, so long as DOGE <-> BTCD and BTCD <-> LTC have liquidity, the trade can be carried out with a BTCD stage in between (invisibly).

This has significant implications for BTCD, over and above the 5% revenues from SuperNET - since it will be in constant use. James writes, ‘I prefer not to make any specific price predictions, but it makes sense for BTCD price to track the price of SuperNET, not in lockstep as that is not how markets work, but rising in tandem.’

JLH: reference asset

The same problem with creating all trading pairs with sufficient liquidity also exists for assets, only it is worse as there are typically larger spreads for assets. ‘It is just not practical to support direct orderbooks for a full matrix of all asset pairs. What is needed is a reference for assets that is like the "DOW Jones" index, something that represents the overall asset market and not anything else.’ jlh777hodl (JLH) will be used as the reference asset, in the same way that BTCD is the reference currency for InstantDEX.

‘I expect JLH trading volumes to go up, a lot, and the spread around the NAV to shrink, so this is not a "moon" thing, but a liquidity thing and liquidity is quite important. Once we can maintain small spreads like 0.1 with volumes for JLH orderbooks, that would mean going from asset <-> asset will also have much better spreads than now.’

Spreads are currently anything from 5-20% for some assets, and trading can entail significant losses through this alone. High liquidity with BTCD and JLH will mean any coin and asset pairs can be traded efficiently. It also enables an ‘autoconvert’ feature that enables users to view their portfolio denominated in whatever currency they want to view it (BTC, BTCD, USD, UNITY, JLH…) without the actual conversion incurring major losses.

‘At this point, crypto becomes much more useful as a medium of exchange and store of value and then the Tradebots will be able to find many more ways of squeezing out more satoshis. I am envisioning a realtime display of the account balance and with tradebots active, you would be able to see it change in value as it is happening. Imagine a wallet, you denominate it in EUR, unleash the tradebots and it starts showing more and more EUR in your account. It is this vision in my head and just needing to get it all debugged, all the pieces are pretty much there, but so many pieces the connection points aren’t quite right, but it is just a lot of debugging and all of this comes to life at the core of SuperNET, with all the other stuff on top.’

Market making JLH

In order to give JLH adequate liquidity, libertynow has taken on the role of a market maker. He is regularly calculating the NAV and placing buy and sell walls to reduce the spread to < 5%.

New assets are periodically added to JLH, and since these have not been announced and/or do not have a market price, the fund is generally undervalued.

MMatrix

Ensuring liquidity is key to the smooth operation of InstantDEX and, therefore, SuperNET.
‘I am currently working on market maker support for InstantDEX,’ writes James. ‘There will be a limited number of spots available to be a MM, prioritized by the amount of fees paid, so naturally the best market makers rise to the top of the list. At first, maybe just a small donation payment will be enough to get to the top of the list. Then 32 (or 64?) of the market makers will make a matrix, I call the MMatrix. The InstantDEX users would contact the first market maker in their sorted list for their offers, so the higher on the list the market maker is, the more orders it has the pick of.

‘For the orders the MM doesn’t want to immediately fill, they broadcast to all the other market maker nodes. This gives advantage to the MM at the top of the list as they get to cherry pick the best orders, but ignoring this incentive to pay fees, as far as users are concerned, all the market makers have the same orderbook (other than the one packet delay).’

MMatrix will be very fast. ‘It should have less than 1 second round trip to any point in world, so all the nodes query the selected MM, who can cherry pick the offers they like, that is how they make extra money in addition to normal market making. Anybody can register to be a market maker by posting an AM. The priority to order resolution will be the first MM with acceptable price, searched in order of past business levels, so the MM with the best spreads will naturally rise to the top of the list. This is only for orders between the NXT AE bid/ask - otherwise just go direct to the AE order book.’

OPAL

Wallet update

MANDATORY WALLET UPDATE
UPDATE ASAP SO YOU DON'T FORK:
https://bitcointalksearch.org/topic/m.9839574

http://youtu.be/pMdr8JTAnDg


OPALTKN

OPAL coin has issed an asset on the Nxt Asset Exchange. OPALTOKEN will receive 25% of revenues from the OPAL market. The standard fee is 1% of sales. This is still in beta and trades are denominated in OPAL, so the dividends will likely be in terms of mgwOPAL. You can keep up with developments here.

A total of 15 million OPALTOKENS (OPALTKN) will be distributed and dividended out as follows:

10% to SuperNET
10% to NXTventure
5% to jlh777hodl
25% to the OPAL team
50% to faucets

This is in addition to the recent OPALTKN giveaway that took place via Slack and the forums. These tokens came from the faucet allocation.

OPAL/jl777 teleport web project

What: James would like the OPAL team to develop a ‘telepathy web’ on top of his basic html site pushing mechanism. Telepathy is BTCD and the SuperNET’s private communication system. Opalcoin will develop an easy-to-use publishing GUI, as well as help develop integration with privacy servers. This will be considered an OPAL contribution to supernet, and OPAL will be credited.

Why: To address the flaws in TOR and create a more decentralised web mechanism. James has already developed the basics; as the technology progresses, more functionality will be released.

How: Interfacing with SuperNET, the OPAL team will add and build in qt features with C++, while James develops the backend in C.

VRC update

effectstocause writes, ‘Almost done with major components of supernet integrated vrc wallet. Then focus will move more so to DHT storage. We will discuss differences and similarities of Storj with Opal for optimal impact. We actually had a lengthy conversation with Storj at btc Chicago. Cool guys.’

BTCD revenues

People have been asking for some clarification about the role that BTCD will play in SuperNET and the revenues that will be paid to it.

BTCD is at the core of SuperNET. To reflect this, 5% of SuperNET revenues will flow to BTCD stakers. (Periodically a snapshot of stakers will be taken and BTCD purchased using SuperNET revenues to distribute to them, pro-rata.) At this point, this has no direct impact on BTCD value. However, ‘long term it should dominate the value of BTCD as there are only 1.2 million of them.’

This also provides a safety net for BTCD. Unlike other coins, which can theoretically plunge in value, ‘it will always have a nice floor due to the 5% of SuperNET revenues, which is actually 10% of what SuperNET assetholders get, since SuperNET holders get 50%, NXT core devs 5%, BTCD stakers 5%, SuperNET core coin communities 20%, overhead and expenses 10%, TBD 10%’.

Teleport and Telepathy papers (core BTCD technology) can be found at http://209.126.70.170/DarkPaper.pdf  and http://209.126.70.170/Telepathy.pdf.

Coinimal

Coinimal is to launch very soon. This SuperNET-integrated service will allow fast Euro-crypto purchases. Twinwinnerd writes,

### I am looking for Beta-Testers of Coinimal!
If you are from a country below and have access to a bank account, I need you to
Buy: BTC, NXT, LTC
Sell: BTC

Buy side:
SOFORT: Belgium, Germany, Italy, France, Austria, Netherlands, Slovakia, Spain.
EPS: Austria
Skrill OBT: Austria, Germany, Spain, Italy, France

Sell Side:
All Europeans with a Euro Sepa Bank Account.

Reward: 100 NXT per Tester!
PM me for Beta Key!
###

‘Localbitcoins is maybe now the fastest but in 9 days Coinimal will be. And we offer more coins than BTC...’ You can sign up here, to receive a Lanch Announcement: https://www.coinimal.com  Find out more here.

Bitcoin Shanghai Expo

SuperNET was introduced at the Chinese conference (28/29 November). Salsacz writes: ‘During my speech on day 2 I presented SuperNET as a solution for using any anonymous technologies without the need of exchanges and risks of revealing your IP, email or freezing account or getting it stolen. In the brief summary during the speech I introduced James as a dev, his assets and also explained the diagram and the story about the Pirates. I brought all whitepapers, even the chinese versions.’

Read Salsacz’ article about the event here: http://nxter.org/nxt-supporting-the-student-revolution-in-hong-kong/

Development Update

Infrastructure

SuperNET’s infrastructure is a network of servers running around the world - many on users’ home computers and cheap VPSs, but also a series of high-quality nodes that will provide the backbone of the service. James: ‘It is boring compared to SkyNET, but still quite important. As we get closer to initial release with core functions, we need to have the infrastructure, especially MMatrix.

‘So SuperNET contracted for 10 mega servers to start and will probably get a lot more. For people concerned about the "Instant" of InstantDEX and core capacity of DHT this solves that, as the best software running on snotkitten class hardware will just not provide the performance people will expect.

‘Boring compared to new asset, but quite a nice foundation for the network to run on. Most people won’t have any such servers, but most won’t be running a MMatrix node, so, need to make sure MMatrix node capability is known, tested and then the monetization it will generate can be calibrated.’

SportsBet

The sports book is nearing completion. However, James needs ‘someone that understands the different events and enough XML syntax to make templates. Then the code can automate the sportsbook creation. This would then plug into InstantDEX for peer-to-peer betting.’

Bug hunters required

There are big bug hunting rewards available for anyone who can identify significant bugs in the SuperNET API. Rewards of UNITY will be paid out to anyone who can find problems, with a sliding scale of amounts. The API is largely untested, so there should be lots of bugs to find!
Rewards will be paid out at the end of each week to bug-finders and will continue for 5 weeks (until early January 2015).

Last week’s payout: Cassius: 33.33 UNITY, Longzai 33.33 UNITY, Cryptosleuth 33.33 UNITY.

If you find a bug please make sure to post it on Slack (in the API channel and to Azeh) and on the SuperNET forum here: https://forum.thesupernet.org/index.php?topic=296.0

At this point, it is question of finding as many people as possible to issue API calls manually and seeing whether it acts as expected. However, l8orre has a more advanced setup - a scripting and testing controller in built in Python3. ‘Right now it has a facility to plug in controller classes. What does work is using this as a relay which sort of is the same as using curl. The scripting class exists, but I need to extend it a little bit. Schedulers are also provided... i.e. timers that check back regularly for pre-registered actions every 4 seconds, do 'settings', then loop over the whitelist and ping every IP in the whitelist, then do GUIpoll and see if there is a pong, but it may need some honing to streamline it a bit… In its simple form, it does the same as curl...’ If you’re interested in helping, contact l8orre.

SuperNET compiled on Windows

BTCDdev writes, ‘Some great news today! I finally managed to successfully compile SuperNET on Windows! This will have a VERY great and immediate effect on our community! Once jl777 and I knock out a few minor kinks in it, anyone running Linux or Windows will be able to become a SuperNET tester and begin using its awesome services! With a nice GUI doing very well under development by longzai1988, hundreds of people in slack and more joining every day, and now this, we can rest assured that our community has some great days ahead!’

SuperNET related links

SuperNET news

Newsletter signup
http://supernetwrk.weebly.com/newsletter.html

https://twitter.com/Jl777News
http://jl777news.tumblr.com/
https://www.facebook.com/jl777official

SuperNET Newsletters archive
http://nxter.org/category/supernet-newsletters/

SuperNET Slack
http://104.236.15.119:8086/logs is a log of the public channels

Community

Supernet Forum
https://forum.thesupernet.org

PM noashh for an invitation to SuperNET Slack!

SuperNET CORE coins

NXT
http://nxt.org

BTCD
http://bitcoindark.pw

BBR
http://boolberry.com

VRC
http://www.vericoin.info

CHA
http://chancecoin.com

OPAL
http://www.opal-coin.com

VPN
https://bitcointalksearch.org/topic/dvpndecentralized-virtual-private-network-by-vpncoin-team-757614

SuperNET related projects

BITS (SuperNET CORE component!)
https://bitcointalksearch.org/topic/annbitsbitstar-now-on-cryptopia-nova-and-yobit-new-wallet-fork-in-testing-748045

SkyNET (FinHive)
https://nxtforum.org/finhive/
https://nxtforum.org/nxtventures/reserved-6826/

Coinomat
https://coinomat.com

Neodice
https://nxtforum.org/nxtventures/(pre-ann)-neodice/

Freemarket
https://nxtforum.org/nxtventures/freemarket-official-thread/

ATOMIC
https://bitcointalksearch.org/topic/ann-atomic-in-supernet-core-single-blockchain-for-trading-all-coinsassets-780833

Pangea
https://nxtforum.org/nxtventures/pangea-poker/

Jay
https://nxtforum.org/nxtventures/jay-decentralized-plugin-network-asset-8688289798928624137/

Omnigames
https://nxtforum.org/nxtventures/omnigames-asset/

SNN
https://forum.thesupernet.org/index.php?topic=118.0

Coinimal
http://coinimal.com

ShortUNITY
https://nxtforum.org/assets-board/shortunity/

Prediction Markets

https://www.fairlay.com/predict/registered/new/supernet-in-top-10-of-coinmarketcap/
https://www.fairlay.com/predict/registered/new/supernet-in-top-5-of-coinmarketcap-before-2016/

Author of SuperNET newsletters: NXTER MAGAZINE: http://nxter.org

 

SkyNET dividend


Multigateway

Lots of great info there once again, thanks for the update.

great update, thanks

Welcome to SuperNET.

Links:
http://eepurl.com/-ckwv
http://nxter.org/supernet-newsletter-9/



It’s that time again, and once more there have been lots of developments since our last newsletter. A new promising coin has joined the SuperNET core, a SkyNET dividend has been announced, and we'll walk you through the current holdings of SuperNET as well as this week's development. Hang on.

Topics

New core coin OPAL
SuperNET client v0 update
SkyNET December asset dividend
The buywall is back
SuperNET Holdings
- Coins
- Assets
- More on the value of future dividends
Other announcements
- Vote James
- Nxt-starter SuperNET plugin
- Freemarket Concorde
Coinimal profit-sharing deal
Freebieservers
Pangea
Jaynodes
Instant decentralized crosschain exchanges
Development update
SuperNET related links

New core coin OPAL



OPAL coin is the newest SuperNET CORE coin. On November 27 James made a pre-announcement that a new coin had been selected. On Saturday the news about OPAL hit, and the jl777 effect set in...

OPAL had already experienced a significant rise in price, roughly tripling over the previous 24 hours with their announcement of their Storj partnership. The SuperNET ANN gave the OPAL rocket extra fuel, spiking the price from 0.00003 up to a peak of 0.00007. After predictable profit-taking, the price now seems to be oscillating around 0.00004. James comments that SuperNET owns something in the region of 9.4% of OPAL. The substantial gains this represent should be reflected in the SuperNET NAV: ‘Small stuff in the big picture, but nice nonetheless.’

In case you missed the drama, find out more on the Opal website: http://www.opal-coin.com. Some early press can be found on CoinTelegraph
 and you can download the OPAL Android wallet here: https://play.google.com/store/apps/details?id=org.coinlabs.opalcoin
 
This brings the list of CORE SuperNET coins to six: NXT, BTCD, BBR, VRC, CHA and now OPAL. BITS is also a core partner.

SuperNET v0 client update

The SuperNET client has been updated. Although not critical, 1.3.4.3 provides a few extra features and fixes:

Added compatibility to NRS 1.3.4 (the latest NXT release)
Coinomat
Added CoinoUSD currency
Prevent user input from reset when refresh occurs
Fixed generateToken not working on remote host
Fixed testnet warning when port 80 is used

The easiest way to update to 1.3.4.3 is to download the .zip file from the link above or the Multigateway site and unzip it to its own directory. All of your information should be stored on the blockchain, so you will just need your passphrase to access the wallet. To speed up getting started, you may want to copy the “old” database folder (nxt_db) to the new installation. This avoids having to download the blockchain again.

SkyNET December asset dividend

Codename: SkyNET (asset ID 6854596569382794790).

1.5 million NXT worth of the asset sold out overnight, when James gave the opportunity for medium-to-large investors to get in on the ground floor with the new asset. James wrote, ‘For a limited time only and in lots of 50,000+ NXT, I can offer assets of an upcoming SuperNET deal. PM me on slack if you are interested.’

The sale is over, but the asset will soon be dividended out to SuperNET holders.

James writes:

### What SuperNET would be complete without a SkyNET?

Combine cutting edge AI techniques with blockchain technology.

Now in the realworld, companies in this space are getting some crazy funding: http://www.bloomberg.com/news/2014-11-24/ai-startup-sentient-raises-103-5-million-in-funding.html

Not saying that SkyNET will be in the same league as the above, we will have to wait to see what SkyNET thinks
###

James will give more information about SkyNET and release the asset dividend soon, as enough people have registered their interest (using the now-familiar ‘yes’/‘now’ poll): https://nxtforum.org/nxtventures/reserved-6826/

The buywall is back

The buywall has been reinstated. James confirms: ‘I put up a 1 million NXT buywall at 160 NXT on NXT AE and by Monday on BTer there should be the same 1 million NXT buywall at 160 NXT.

‘It is probably a bit above the strict asset NAV, but with 168 now in slack, the value of so many in the realtime SuperNET community is giving me very good feeling for the future. Half a dozen new channels spontaneously formed this week. So the decentralized power is coming into play as I didn’t even know about them until I looked at the list of channels.

‘Also, the market is not properly valuing the SuperNET holdings of Pangea, Jay, Omnigames and other assets, but I set it below the current market price so as not to affect current market.’

The current market price for UNITY is around 200 NXT.

SuperNET holdings

There has been some (understandable) confusion about the many and varied assets that SuperNET holds, as well as the structure of these assets and SuperNET in general. A quick summary of the coins, first: ‘Off the top of my head, there is approx 10% of: BTCD, VRC, OPAL, BBR, BITS, 5%+ of CHA and NXT,’ writes James.

Then the assets that will generate revenue for holders: ‘SuperNET is the main holding entity, but it holds some assets that in turn own other assets. It is like a directory structure. So the leaf nodes would generate dividends to its holders, this would include the individuals and other assets. Then the assets that got these dividends from the other assets (Privatebet being a prime example of this) would add its own operating profits to the dividends it got and dividend this to its individual holders and other assets…'

‘I believe the longest path is:
neoDICE -> Privatebet (NXT-ZGGJ-5G8H-K24Y-3BD8S) -> NXTprivacy (NXT-KKNV-8EPK-W2S4-96VTK)'

‘The idea is that the specific gaming (or other type) asset, in this case neoDICE, will be the item that directly reflects the performance of the neoDICE. And all the gaming assets are routing dividends or revenue share via Privatebet (it owns 35% of neoDICE and has 20% revshare deals with Pangea and Omnigames). Privatebet will also directly have its own decentralized sportsbook next year. So, Privatebet will have meaningful fractions of half a dozen+ other gaming assets, with a percentage of 20% to 25%, this should add up to more than the average of any specific asset, though the diversification protects from any large change (up or down) and it is meant to reflect the aggregate decentralized gaming sector.
‘The following is NXTprivacy's holdings, anchored by 60% of Privatebet:

Cryptocard: 400'000 of 1'000'000 = 40.00%
Privatebet: 600'000 of 1'000'000 = 60.00%
SuperNET: 537 of 816'061 = 0.07%

‘NXTprivacy will also have direct fees from Teleport, so it has a book value in excess of (40% of 7 + 60% of 40) = 26.8 NXT per asset. Since it is trading at 28/34, if you are able to buy at 28, that is like paying 4 NXT for Teleport revenue stream.

‘The NXTprivacy dividends would flow into SuperNET and from there to its holders, coin communities, etc.
‘I know it is a bit complicated, but due to compartmentalization requirements and also some legal insulation, it was deemed to be the safest path. For example, some people are concerned about some legal issues with owning "gambling" based assets as some primitive countries make that illegal. However, if you own something that owns something that owns something that owns something that does a decentralized dice game and each entity is having a specific purpose other than adding "distance", I think it is helping on the legal side.

‘Over time, I expect Privatebet to gather more and more gaming assets, and of course SuperNET itself to continue to add to its collection of assets.’

On the subject of assets, for future dividends we have:

Jay: 75'000 of 1'000'000 = 7.50%
Omnigames: 75'000 of 1'000'000 = 7.50%
SNN (SuperNET News Network): 75'000 of 1'000'000 = 7.50%

Internal holdings include:
Pangea: 597.7454 of 1'000'000 = 0.06%
SuperHODL: 10'000'000 of 10'000'000 of 100.00% (see below)
SuperNET: 6'503.956 of 816'061 = 0.80%

Core holdings:
InstantDEX: 241'485 of 1'000'000 = 24.15%
NXTcoinsco (tradebots): 241'485 of 1'000'000 = 24.15%
NXTprivacy: 241'485 of 1'000'000 = 24.15%

SuperHODL contains:
Jay: 400'000 of 1'000'000 = 40.00%
MyNXT: 17'200 of 100'000 = 17.20%
Omnigames: 400'000 of 1'000'000 = 40.00%
Pangea: 414'454.1309 of 1'000'000 = 41.45%
SNN: 700'000 of 1'000'000 = 70.00%

‘A portion of SNN is allocated to the writers and MyNXT only has 100,000 total assets, so it is looking much smaller than the others but if you look at the percentage owned it is at a healthy 17%. SuperNET/UNITY is thus a very diversified single asset that is the sum of all its parts. Keep in mind that these are mostly independent projects and different ones will come online at different times, so there won’t be a switch that just starts a flood of dividends. It will start with a small trickle and as the dozens of dividend sources all combine and grow, the SuperNET dividend will eventually become quite substantial.

‘However, I could not estimate accurately when all this would come online, nor what the levels would be, so I priced the ICO at book value. That means that purchasers of SuperNET got all the future revenue potential for free and the price performance during the bear market has proven that asset (and crypto) backed SuperNET is the superior model. Certainly there is development and timing risk, but nice to have a solid floor.’

Funds in SuperHODL are pre-authorised for spending. James is not authorised to touch other funds, except for those in transit. To improve security, most of the cash NXT is in one account, and assets in a separate one.

More on the value of future dividends

Re the dividends mentioned above:

### There are 75000 each of omnigames, Jay and SNN in the pipeline, so just a bit less than 1 asset per 11 UNITY assets. With an average market price of 30 NXT for these, 100 UNITY would get 11 * 30 * 3 = 990 NXT worth of dividends. Timeframe is totally unpredictable, but with the market price of about 180 NXT this is 1/18'th > 5% return just from the dividends.

Keep in mind that 90%+ of UNITY value is backed by the BTC, NXT and other crypto it holds and it uses this to put up buywalls to allow for liquidity. Currently there is 2 million NXT worth of buywalls at 160 NXT, one in NXT AE and one in BTER.

I target a risk profile of 20% on the downside and X% on the upside. If you hold onto the asset dividends and they grow, then the yields are better of course. I didn’t charge anything for the revenue side of SuperNET as it was sold at NAV, e.g. liquidation value and this is why it has held its value throughout the bear market.

James
###

Other announcements

James got nominated for the Proof of Honour award mentioned in the last newsletter.
So now he’s up for vote: http://www.coinssource.com/vote-jl777

A brief note from POPPP about the CoinEvolve rescue project, http://Nxt-starter.com:
‘My SuperNET plugin will be ready this week or the next one.’

And one from Poofknuckle of FreeMarket:
‘Pre-announcements, it's what all the cool kids are doing! We don't want to be left out, so here is our pre-announcement of a new feature for FreeMarket. Codename: "Concorde."

‘What is it? I wish I could tell you. More info as it gets closer to release...’

Coinimal profit-sharing deal

A new initiative called Coinimal, a Euro-crypto gateway, reports this profit-sharing deal with SuperNET:

######

Coinimal GmbH with SuperNET

www.coinimal.com

In return for being featured as the EUR-gateway in the SuperNET, Coinimal GmbH agrees to the following Profit Share Deal:

* All orders submitted through the SuperNET Plugin are eligible for this deal.

* The Profit from eligible will be distributed in the following way:

51% SuperNET

49% Coinimal GmbH

* The Profit Share can be distributed freely but SuperNET is not allowed to issue an asset that includes the name “Coinimal” in the asset title.

* The Profit Share will be paid monthly.

* The Payment will be made in Bitcoin.

#####

You can read more about Coinimal in this ANN.

Freebieservers

Freebieservers is an interesting initiative to integrate NXT with a free gaming server platform. This is particularly promising as the business caters to crypto’s core demographic and growth area: Technically literate teenagers and young adults (typically male). You can read more here. Some updates from Freebieservers:

We will be selling  350,000 shares at 2 Nxt each to raise 700,000 Nxt. Out of this 7500 USD worth nxt will be flown into completion of development efforts that have been going on.

The rest of the budget will be used for servers, marketing and maintenance. Post the revamps (which will finish by Jan 15th) , our sole focus would be on user acquisition and scale.

While we've actively looked into various crypto's as a means of advertisement/partnership, if nothing fruitful occurs by the stipulated date for launch of v2.0 we'll be going with other advertisers (glispa.com integration for eg) and attaining scale.

Jan 15 - April 15 will be solely used for scale of the project and occasional integration of SuperNET into our operation.

The goal is to sign up 1 million users, all of whom will be introduced to NXT as a core element of the platform. The current userbase is around 75,000, and there are substantial opportunities to access new markets where there is established interest already.

Pangea

Decentralised poker app Pangea has had a GUI upgrade - take a look here: https://www.youtube.com/watch?v=c1fl39lUiAs

5000bitcoins writes: ‘We've been discussing a few more sensitive things privately the last couple of days. I'm going to set up a Pangea section on NXTforums with two things I need input on for now: A couple of set avatars to pick from; and discussion of how to get a steady flow of players. I’ve got a few ideas. Most importantly I am on the marketing side of things, so my real goal is a solid strategy to get fiat players to Pangea! I'm going to fill this section with subjects of discussions so we can get many different ideas/brainstorming going and end up with the best of them.’

Ask in Slack or on the NXT forum for more details if you’d like to chip in.

Jaynodes

Last week a future asset dividend called ‘Jay’ was announced. Here’s a little more information.

jonesnxt is working on a light wallet and a framework to go with it. This is a significant step, since the majority of users won’t want to download a client to use the SuperNET. James comments, ‘This will totally revolutionize crypto adoption! All SuperNET coins/services crypto secured, but accessible via normal web browser.’

###

Jay is a framework made in javascript that runs on a number of different websites and makes sure that the version it is running is secure. It then has a large API of NXT and SuperNET functions for plugins to use. The Jay node calls any number of random SuperNET servers, and can then get a valid response from any coin connected to the superNET.

Plugins are compressed and saved into chains of AMs through NXT, until they are loaded into the client and run. The entire client itself is built up of different plugins, so different websites can set up configurations of plugins to best use the main plugin that the website would promote.

So, a website like MGW would have a jay node at multigateway.com/jay, for instance. Then they would configure the default setup to have the MGW plugin along with a few of their favorite plugins to point users to in order to easily use the features on the internet with security and without additional downloads.

Distributed consensus

All nodes on the nodelist (NXT) are public nodes with cors enabled and hallmarked (around 20 good ones). Each API request is sent to three randomly-selected servers in parallel. If the three servers are in complete agreement on the data, then it is deemed usable.

If there is any discrepancy, another round is called, and two more randomly selected servers go into the mix. With now 5 servers polled, if the second round are in agreement and side with any of the first round’s data, that data is selected.

Otherwise it starts breaking down the data and finds consensus if it can. I might add a blacklist if there are servers that are continuously outvoted by the other nodes

So basically, at any given request, the best case scenario being n where n is equal to the node with the slowest response, the less likely edge case gives us 2n and the very rare ‘under attack’ case gives us 3n.

###

Instant decentralized crosschain exchanges

Long time no mention of ATOMIC in the SuperNET Newsletters. A powerful new development is in the works, let’s have a reminder from ATOMIC developer Cryptaxe:

‘Basically it is a decentralized exchange run by everyone who wants to participate (as a miner) in the ATOMIC network. Imagine bittrex or cryptsy without the need of a website - pure and straight cross-blockchain trading of coins/assets, that is ATOMIC. A ledger that ANY crypto-currency can use in order to record transactions and exchanges. 

‘For example, a user requests to exchange Doge for BTC. A request to InstantDEX is made, and then InstantDEX makes use of the Atomic ledger to record the transaction in a decentralized way. It’s a trustless way for exchanges to be recorded and a way to make payments from one blockchain to another. ATOMIC, InstantDEX and MGW (Multigateway) are all layers of the same idea.’

‘This is like three branches of a self-regulating transparent government. By recording transactions to the public ledger the exchanges are basically trustless, which is what blockchains are for, decentralized trust.’

You can read more here:

http://atomicdac.org
https://bitcointalksearch.org/topic/m.9329201
https://bitcointalksearch.org/topic/m.9526570
http://www.coinssource.com/atomic-bridging-cryptocurrencies-and-real-world-transacting/
Development Update

James writes: ‘I am still in MGW. I almost finished porting the MGW into SuperNET. Now anybody can process deposits, so theoretically, there could be 100 people who all deal with 1% of the deposits. Also I figured out how not to need any AM messages to correlate the tx, at least I think I did, still need to debug the withdraw side to make sure. Once you are set up, it takes just a few minutes to get current status.

‘MGW is being used by SuperNET before, now all the nodes will have MGW code built into them.

curl -k --data-binary '{"jsonrpc": "1.0", "id":"curltest", "method": "SuperNET", "params": ["{\"requestType\":\"MGWdeposits\",\"specialNXT\":\"7117166754336896747\",\"coin\":\"BTCD\",\"asset\":\"11060861818140490423\",\"NXT0\":\"423766016895692955\",\"NXT1\":\"12240549928875772593\",\"NXT2\":\"8279528579993996036\",\"ip0\":\"209.126.70.170\",\"ip1\":\"209.126.70.156\",\"ip2\":\"209.126.70.159\"}"]  }' -H 'content-type: text/plain;' https://127.0.0.1:7777/

‘The above curl command run locally processes MGWdeposits and it is runtime configurable for what coin/asset and the servers are specified. If there was Phasing, then as long as the required number of people run the above command, the deposit transfer would be approved. Of course it would run in the background, so as long as enough people are running it.’

This raises the security of MGW by raising the 2-of-3 consensus requirement, subject to phasing limitations on the deposit side. ‘A similar thing could be done on the withdraw side, but the problem becomes the requirement of having multiple triplets and load balancing (i.e. unspent deposits matching withdraw amounts).

‘It would be possible for any N people to set up their own MGW address that can be used to issue deposit addresses and process withdraws. Basically I just wanted to merge the code bases and intend that the production MGW guys can run MGW via some API commands, but the tech will be there for anybody to use. It’s still  in experimental libjl777, not approved for anybody not familiar with MGW (yet).’

SuperNET related links

SuperNET news

Newsletter signup
http://supernetwrk.weebly.com/newsletter.html

https://twitter.com/Jl777News
http://jl777news.tumblr.com/
https://www.facebook.com/jl777official

SuperNET Newsletters archive
http://nxter.org/category/supernet-newsletters/

Community

Supernet Forum
https://forum.thesupernet.org

PM for an invitation to SuperNET Slack

SuperNET CORE coins

NXT
http://nxt.org

BTCD
http://bitcoindark.pw

BBR
http://boolberry.com

VRC
http://www.vericoin.info

CHA
http://chancecoin.com

OPAL
http://www.opal-coin.com

SuperNET related projects

BITS (SuperNET CORE component!)
https://bitcointalksearch.org/topic/annbitsbitstar-now-on-cryptopia-nova-and-yobit-new-wallet-fork-in-testing-748045

Coinomat
https://coinomat.com

Neodice
https://nxtforum.org/nxtventures/(pre-ann)-neodice/

Freemarket
https://nxtforum.org/nxtventures/freemarket-official-thread/

ATOMIC
https://bitcointalksearch.org/topic/ann-atomic-in-supernet-core-single-blockchain-for-trading-all-coinsassets-780833

Pangea
https://nxtforum.org/nxtventures/pangea-poker/

Jay
https://nxtforum.org/nxtventures/jay-decentralized-plugin-network-asset-8688289798928624137/

Omnigames
https://nxtforum.org/nxtventures/omnigames-asset/

SNN
https://forum.thesupernet.org/index.php?topic=118.0

Coinimal
http://coinimal.com

ShortUNITY
https://nxtforum.org/assets-board/shortunity/

Prediction Markets

https://www.fairlay.com/predict/registered/new/supernet-in-top-10-of-coinmarketcap/
https://www.fairlay.com/predict/registered/new/supernet-in-top-5-of-coinmarketcap-before-2016/

Author of SuperNET newsletters: NXTER MAGAZINE: http://nxter.org

Hi dewdeded,

thank you for your advise, it's appreciated.

What you see is 1 week of action in the SuperNET projects and community. The newsletters gather information from various sources, forums and threads, Slack channels, PM's, and cook it down. Believe me we do.   SuperNET is a highly decentralized project. In the name of UNITY, we cover most, because what is important to some, is less important to others.

Right now, we provide updates and transparency not only for investors but also for everyone involved.

BUT you are right. SNN (SuperNET News Network) is in the works, supernet.org is, a marketing group will take care of tweets and PR, and then we can change the form of the newsletters. You will be able to follow your field of interest only and not read through a 7-8 pages wall of text about everything, every week.

/apenzl

Your newsletters are very extensive and they contain floods of (unstructured) information, with (very) different degree of importance.
Some (or alot?) readers will have difficulties understanding the quintessences & central points of your messages, because of this Information Overload.

I suggest to offer a shorter variant or improve your newsletters texts, by stating more precisely, substantiating, excerpting, linking to additional infos (instead of including in Newsletter, ...) etc. To get better results with your project communication.

The Monero logo has been made in a design contest before supernet one: http://99designs.com/logo-design/contests/monero-mro-cryptocurrency-logo-design-contest-382486
No idea why SN made it so similar.