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Does anybody know how to setup a testnet? How many servers, etc.
I might need to get one setup as early as end of next week.
James
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Can you believe more bounty money for developers? Well its true, there is a 7.5 BTC + 1700 XCP bounty (that continues to grow) for an Desktop GUI client. Details are: https://bitcointalk.org/index.php?topic=430998.0I think this could provide nice additional funding for client developers. XCP is the only other crypto community that I have found is open to cooperating and I like that. James P.S. XCP is very slow thread, only 88 pages so you can catch up to it in less than a day https://bitcointalk.org/index.php?topic=395761.0 |
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I was thinking about the Asset name for the AE and it certainly would be cool if the asset name XCP represented the actual XCP from the XCP DAC gateway.
However, Asset names are not transferable. My proposal is this.
Whoever gets the asset name of the crypto name, eg. "BTC", "DOGE", "XCP", etc. would be the one that gets to run the DAC gateway using that name and the community will support this as long as the fees are not raised and publicly disclosed accts are fully funded at all times.
Currently the min fee is 1 NXT. I propose that the high bidders for the Asset names keep the fee at 1NXT or double the minimum transaction fee, even when the minimum fee goes to 0.1 NXT or less. I realize that this means that there wont be any profit at first. However, in the long run there will be much more profit if there are hundreds of transactions per hour and you are making fractional NXT on each one. Trading volumes are very sensitive to transaction fees.
This will unfortunately create a bidding war for the Asset names of the other cryptos, but I see no way around that.
Feedback?
James
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I am trying to make sure when we go to TF in April that the network is ready for it. CfB estimated 1Mbps to support that, so any nodes that doesn't have that bandwidth will need to use clients that don't do everything.
Of course, just because 1000TPS is possible doesn't mean it will happen right away and I imagine it will be a gradual ramp, unless we stress test it ourselves.
Who else would you recommend to be on the NXT infrastructure advisory group? I want to make sure we get input from all the people who are actually involved in setting up servers all the time. opticalcarrier, gbeirn, tbd, tbd.
We still have time and can plan an orderly ramp up in NXT network capabilities. I just don't want to login one day in April to find TF was enabled while I was sleeping and we are doing 666TPS and everything went to hell
James
IMO I dont think we have anything to worry about until we get to the point where during peak periods (to be profiled later, when the peak periods begin hitting) that we fill up blocks with max transactions, at a rate of every minute. I just dont see that happening any time soon. But it would be great to be wrong. For example - consider bitcoin - we could currently take over ALL of bitcoin's traffic right now, without even needing TF. If we get to that point, were multimillionaires, and I just dont see that happening this year, But it would be great to be wrong. We'll just have to keep an eye on it. Now, one thing to consider is if NXT really does take off, we could see more attacks again in the future, and so will need to be ready to summon more hallmarked VPSs short notice. But hopefully not. I ** STRONGLY ** urge that we prepare for a dramatic increase in NXT transactions. We will have zerocash functionality, we will have DAC gateways for ALL other cryptos. It is possible that 10% of all crypto trading will move to the NXT AE. The only cost will be the transaction fee of 1 NXT. Very low trading cost. Fully automated DAC gateways. 1000 TPS is probably enough, but we MUST be prepared for this. It will happen sooner than you think James P.S. There are other developments I cannot disclose yet, that will further add to this. Be prepared. |
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I have received a PM from Alias describing what DAC's can do, still digesting it. However in discussions with the XCP community, an idea for a DAC that is pretty simple came up. Namely a gateway DAC for other cryptos. Its function would be to deposit and withdraw into the NXT Asset Exchange fully automatically. I recently discovered XCP and am impressed with what they are doing. I reached out to XCP team to see if we can get some guidance on how to automate XCP deposit and withdrawal. https://bitcointalk.org/index.php?topic=395761.msg4881075#msg4881075I would like the DAC to be modular and be able to handle any other crypto assuming that the right interface functions exist for that crypto. This requires defining a layer that would be able to implemented by all currently known cryptos. This is why I think XCP is a good test case. If we can do it with XCP, we should be able to do it with DOGE, etc. It needs to interact directly with the other crypto's blockchain, verify both sides of the transaction, etc. No more waiting on the exchange to deposit the NXT. No more worrying about the exchange's solvency, etc. Fully automated crypto gateways. Once we get the first one, it will be a relatively simple matter to add new ones by popping in a new low level to deal with the blockchain of the new crypto. All the other cryptos will be priced relative to NXT. this is part of what makes BTC so strong, all other cryptos go through it. BTC is the current reserve currency of the crypto world. Maybe not for long? Imagine being able to do actual blockchain to blockchain exchanges of ALL other cryptos from within NXT Asset Exchange!! I am making an executive decision and fully authorizing 100000 NXT for this bounty. After the first one is done, maybe a much smaller bounty for each additional crypto added. I prefer cooperative efforts, especially with the definition of the low level interface layer to the other crypto blockchains. After there is consensus on the external interface layer, then if the different people can't work in a team, then it will be a competitive race. Winner take all, so it is safer to cooperate and divide up the problem in to separate roughly equal pieces. Please post publicly interface proposals and if you want part of the bounty. James P.S. full disclosure: I have burned some BTC and have XCP, but only because I think that they are cool and unlike emunie, etherium and mastercoin. |
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Hello XCP peoples!
I am James, active member of the NXT community and I really like what you are doing. Burned some BTC so I am also one of the XCP peoples.
I believe there is room in the growing crypto world for many different solutions to succeed. Of course, XCP must dominate mastercoin!
I just wanted to reach out and maybe there are ways we can help each other. NXT is already on many exchanges and has close to 20,000 accounts. Maybe it makes sense for XCP to be listed in NXT Asset Exchange? This would create a market for XCP and avoid all the fiat hassles as there is also a path from NXT -> ripple -> fiat.
I am busy managing the NXTcommunityfund, which just received over 2 million NXT so I personally don't have the time, but I am sure I can find somebody over in NXT community who would love to help or become an XCP gateway into the NXT Asset Exchange.
Still getting up to speed with XCP, so not sure if it is possible to get NXT listed within counterparty. If it is possible, I am interested in seeing how that can be done, etc.
James
James, Thank you for your interest in Counterparty! Getting NXT listed within Counterparty would be a bit tricky. Even if someone created asset REALNXT in Counterparty and sold them, he would have to 'back' REALNXT with NXT, and make a sort-of IOU out of it, such that REALNXT can be redeemed for NXT. The mechanism by which the latter happens will have to be determined by the issuer of REALNXT, of course, though I do have some ideas as to how this could be done. It would be great if XCP could be sold on NXT Asset Exchange, though I do not know whether this is possible. If you are interested in further discussing things further, please PM me or have someone from the NXT community PM me. Let's do this! It will be a huge boost for both projects, they share many things in common. Maybe I'm wrong but I think that there is a relatively easy way to do this: Say Alice is a Counterparty user and Bob is a NXT user. Alice and Bob want to get their respective tokens "into" each others systems. They can set up a multisig address (2 of 2) on each system to which they both have 1 of the keys. They can both add some amount (say $10,000 worth) of their tokens into the multisig addresses. So now the NXT address has say 20,000 NXT and the Counterparty address has 4,000 XCP. Both Alice and Bob can define the appropriate assets/colored coins. They are effectively performing escrow for each other. In this manner you are actually "backing" NXT assets with NXT and XCP assets with XCP. Of course there are all sorts of potential issues with this such as - how do you know that Alice and Bob aren't the same person. In the long-term that doesn't matter because both Alice and Bob will be DACs. You could technically trade between an "XCP colored NXT" and an "NXT colored XCP" via "Alice and Bob". So there's an answer to your earlier question James: The most valuable DACs? - How about one which facilitates interoperability between decentralized exchanges. Another neat way of doing this would be to extend the Counterparty Protocol across both Bitcoin and NXT (using the arbitrary message system)! This would mean the NXT system could have colored coins on top of colored coins. "This coin represents a Counterparty token which represents my deeds to this house". OK, I am in generalist mode so all these nesting of coins on assets on coins is making my head spin. However, from my ripple experience, I know that the biggest barrier to making it useful is the gateways. gateways that issue the IOU by and large suck. They are slow, or buggy or get hacked and go out of business (happened already!), etc. Now forgive me if I am totally wrong on the details I am speaking generally. What I would like to see is a TOTALLY automated way to make trades of the actual NXT and XCP. Within counterparty you can trade real XCP for ... not sure, but what if you could directly trade real XCP for real NXT without any actual gateway. It just automagically worked? Similarily if in NXT if you could trade real XCP for real NXT, automagically. If technically this is a DAC, then I think I can make executive decision and authorized 100,000 NXT bounty for a working implementation. James P.S. I will cross post this on NXT forum. Very cool if this is actually possible. |
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Hello marketing peoples!
Great job as always. I have some small budget now for marketing and it seems like we finally have more funds coming in. I am trying to shake loose the 3 million NXT from unclaimed NXT the community kind of agreed to.
Nobody complained about it, so I am hoping that most of what the NXT marketing group feels is critical will get funded first from direct donors, second from the 3 million unclaimed NXT. As long as the amounts are not crazy big, the NXTcommunityfund can be a funding of last resort.
What is the expected monthly budget for the critical marketing items?
James
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I should have been clearer on the swarming thing: online swarming good, real world swarming at a conference not so good, IMHO Think the the real world swarm idea came from jl777, a few pages back. I posted a central thread for Berlin yesterday, but so far it's as empty as a politicians promise: https://nextcoin.org/index.php/topic,3739.0.htmlEbereon is in Southern Germany, so he should be able to get the RPS to the conference, somehow He also mentioned that he could post a system to the rest of Europe, but without batteries. Last thought for a while: are there any de-centralised/cloud on-line t-shirt/clothing printers ? I'm thinking of something like: www.threadless.comwhere someone could upload a logo from, say, the US and then anyone could order clothing with that print for delivery to any other part of the world. Problem with threadless is that they seem to only accept designs they like, they aren't in the business of just printing promo material. I apologize for my bad idea about real world swarms. I figure it is better to toss out all my ideas and see whichs ones stick. Kind of like baseball. If I bat .333 I am allstar  James |
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Does anybody know what percentage of hallmarked nodes have 1Mbps+
What about normal nodes?
James
I hope you're aware, that a) tx size currently is much bigger than 128 bytes... b) we're quite far from 1000TPS I am trying to make sure when we go to TF in April that the network is ready for it. CfB estimated 1Mbps to support that, so any nodes that doesn't have that bandwidth will need to use clients that don't do everything. Of course, just because 1000TPS is possible doesn't mean it will happen right away and I imagine it will be a gradual ramp, unless we stress test it ourselves. Who else would you recommend to be on the NXT infrastructure advisory group? I want to make sure we get input from all the people who are actually involved in setting up servers all the time. opticalcarrier, gbeirn, tbd, tbd. We still have time and can plan an orderly ramp up in NXT network capabilities. I just don't want to login one day in April to find TF was enabled while I was sleeping and we are doing 666TPS and everything went to hell James TF itself won't let you anywhere near 1000TPS on 1Mbps. Current tx size is rather closer to 500 bytes (and that is without aliases/messages) So besides TF switch to binary format must also happen, but I presume, this will happen before April. I am sure it is safe to assume that whatever NXT core changes that are need to fully support 1000TPS will be made. NXT core devs have delivered everything they have promised so far and I have no reason to doubt they won't continue this. However, just because the software can do it, if the hardware or network cant do it, then NXT cant do it. I am personally counting on the 1000TPS capability of NXT to turn emunie, etherium, etc. into a footnote about promising but inadequate attempts at second gen crypto. My push on this is that time flies quickly and when it comes to realworld actions like getting servers (raspi or VPS) I would feel much better to be a few weeks early than a few weeks late James |
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Does anybody know what percentage of hallmarked nodes have 1Mbps+
What about normal nodes?
James
I hope you're aware, that a) tx size currently is much bigger than 128 bytes... b) we're quite far from 1000TPS I am trying to make sure when we go to TF in April that the network is ready for it. CfB estimated 1Mbps to support that, so any nodes that doesn't have that bandwidth will need to use clients that don't do everything. Of course, just because 1000TPS is possible doesn't mean it will happen right away and I imagine it will be a gradual ramp, unless we stress test it ourselves. Who else would you recommend to be on the NXT infrastructure advisory group? I want to make sure we get input from all the people who are actually involved in setting up servers all the time. opticalcarrier, gbeirn, tbd, tbd. We still have time and can plan an orderly ramp up in NXT network capabilities. I just don't want to login one day in April to find TF was enabled while I was sleeping and we are doing 666TPS and everything went to hell James Regarding infrastructure, www.peerexplorer.com has an interesting take on promoting public nodes. I found their explanation difficult to understand, but it boils down to this: - User registers their public nodes (peers) for a chance to receive extra NXT from sponsors (what they call 'caches') - Sponsors contribute NXT to a 'cache', which includes message. - Registered nodes receive NXT randomly from the caches as reward. Even a public node with zero NXT can earn NXT this way. Very cool site. I wonder if this would be a way to fund servers efficiently? It seems this is just for hallmarked servers? I know there are a lot more than 250 people forging. James |
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Does anybody know what percentage of hallmarked nodes have 1Mbps+
What about normal nodes?
James
I hope you're aware, that a) tx size currently is much bigger than 128 bytes... b) we're quite far from 1000TPS I am trying to make sure when we go to TF in April that the network is ready for it. CfB estimated 1Mbps to support that, so any nodes that doesn't have that bandwidth will need to use clients that don't do everything. Of course, just because 1000TPS is possible doesn't mean it will happen right away and I imagine it will be a gradual ramp, unless we stress test it ourselves. Who else would you recommend to be on the NXT infrastructure advisory group? I want to make sure we get input from all the people who are actually involved in setting up servers all the time. opticalcarrier, gbeirn, tbd, tbd. We still have time and can plan an orderly ramp up in NXT network capabilities. I just don't want to login one day in April to find TF was enabled while I was sleeping and we are doing 666TPS and everything went to hell James |
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Does anybody know what percentage of hallmarked nodes have 1Mbps+
What about normal nodes?
James
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The community decided on 3M NXT for Marketing. I think if you want to use part of that for the shortfall for this, the community will support that. Any objections? James |
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emunie and etherium update:
Very active times in the next gen crypto space. I know laws aren't supposed to apply in crytoland, but crypto is getting big enough that it is overlapping the real world
Rumours of the incorporation of emunie seem to be fully confirmed. They are a UK company now, subject to all the laws of her Majesty. Probably a very wise move, considering all the potential liability a large scale IPO with uncertain results could incur. By incorporating, Dan has the ability to create golden parachutes, large salaries, dividends, etc. Even long time fanboys of emunie are upset. Not sure of percentage ownership, but my guess is vast majority is owned by Dan. Shrewd financial operator, with dubious ability to predict crypto markets as evidenced by BCNext's hat.
This move to being fully incorporated makes emunie into Ripple 2.0! Since emunie won't have fiat gateways or external exchanges, the big impact will be in ease of use and raising the bar as to what people expect. I urge all client developers to study the emunie beta (if you can download it) to make sure we are doing all we can in the usability side. From what I have heard emunie has an excellent GUI and we can't ignore any excellence regardless of where it is.
If anybody knows of any actual functionality that NXT (of 2 months from now) lacks in comparison to emunie, please let me know so I can make sure we fill the gap.
On the etherium side, they actually listened to negative feedback on their IPO structure and pulled the IPO. Not sure if what they come back with will be simpler or more complicated, but they announced a testnet release. If anybody has any actual experience with their testnet please post what relevant things etherium has or could have.
We now have the funds to proactively outdo ALL the competition. As the leading second gen crypto, as long as we defend against competitors, we win. Oh, TF and 1000TPS makes us win too, but I just want to win even without that. Better to win by 1000 kilometers than by just a kilometer.
James
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Looks like jl777 is looking for some skilled developers to join his effort. His plan has merit. Watching with interest!
Me too. It's interesting to see what possible use one can get out of an old system, which is completely different, has limitations that make it impractical, will be completely rewritten from scratch by the zerocoin guys and implemented as a stand-alone altcoin instead of a Bitcoin integration. I also have no idea what this imaginary "zerocoin API" is that he keeps talking about. So I think he, indeed, needs some skilled developers to explain to him why this might not be such a good idea... Meanwhile, if anyone interested in Zerocash (i.e. Zerocoin 2.0) and its possible integration with NXT, follow http://wiki.nxtcrypto.org/wiki/NxtCash - I will keep updating it as we go. Care to make a wager that NXT allstars will get a functional zerocoin proof of concept working or not? Or that once we have a working proof of concept that we can do the same with the May zerocash release? Or that once we have that the zerocash C++ code can be refactored into Java and cleanly integrated with NXT core? The NXTcash team is making progress this weekend. I am in the process of plotting incremental releases that gradually morphs to the final solution. James |
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https://forums.nxtcrypto.org/viewtopic.php?f=38&t=701&p=3396#p3396I am trying to communicate with cryptography professors from Greek Universities.
Meanwhile:
@Jean Luc - we will be always in coordination with you, if we have to rewrite everything in Java then this is what we will try to do..
@NxtChg , @jl777 - It seems that we cannot do this with you in the same team. I will try to find a solution so that you will work independently and we keep all options open (jl777 proposal, NxtChg and CfB's).
Not sure how I will manage this yet. I have to talk with other stakeholders too.
Please try to be professional, no need to waste resources like this! Looks like jl777 is looking for some skilled developers to join his effort. His plan has merit. Watching with interest! We have to do some ugly things and write some scaffolding (throw away) code, but it is the only path that I could figure out that directly leverages existing libzerocoin and allows us to make progress now. As soon as Jack Needles gets a SWIG layer, we can even call the libzerocoin from Java. I know, horribly ugly. All this frankenstein stuff will only be for testnet and gets us smart about zeroknowledge proofs using code that works. CIYAM is helping with architecture and we think we have a pretty direct integration path to build on the SWIG layer. When ricot is back from vacation and bloodyrookie finishes reviewing the zerocoin integration guide, we will have a very good idea of how to hack in actual zerocoin minting and redemption. All this is ugly and will make coding purist throw up out of disgust, but I am a pragmatist and just want to see something working before diving into the long path of refactoring C++ code into Java. In any case zerocoin is coming up with a much better zerocash, so we just need to have a process to go from C++ library -> NXT. No sense in refactoring obsolete code. If you are good at testing software, I could use a couple of good testers, especially if you are experienced with forensic accounting. I want to setup test mints/spends and have someone try to figure out who is sending what to whom. Its supposed to be impossible with zeroknowledge proofs, but I want to make sure. James P.S. There are some VERY exciting things being worked on now, just not quite ready to announce it yet. |
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Who can open an escrow address for the NXT-Tipbot?
NXTcommunityfund handles directed donations. rickyjames is the treasurer and the only one with access to funds ok, could you point me to the address and the file where i can dedicate my donation? Also if the tipbot project fails, do get my donation back? It is in my sig If you specify expiration date on your directed donation and no project earns it by that time, then it will be returned. However if there are potential projects that are active and close i woild hope that deadline woild be extended Of course as donor of directed bounty, you would set the rules, we will enforce them. That is why i call it directed donation. I believe this project or very similar with much smaller bounty was announced. While it goes against decentralization, it might make sense to pool funds and or dev resources. I encourage cooperation, but ultimately it is up to each person to decide James |
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Who can open an escrow address for the NXT-Tipbot?
NXTcommunityfund handles directed donations. rickyjames is the treasurer and the only one with access to funds |
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Any idea how many 1Mbps public nodes we need for strong stable NXT network to sustain 1000TPS. (That is just such a mind boggling number, but here we are planning for it!)
No idea. But 1000 Mbps hosting is cheap these days. And I doubt u could find less than 100 Mbps. I am thinking home users providing public nodes. Also, bandwidth is usually the most expensive thing when buying hosting, especially if it is a lot of bandwidth. A lot of times the listed 1000Mbps bandwidth is the size of the shared pipe, so each server doesn't get 100% of it. Of course, in Belarus probably they might. James |
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emunie blast from the past! https://bitcointalk.org/index.php?topic=303898.msg3390794#msg3390794Here we have BCNext predicting that the $1500 of BTC the founders invested will turn into a couple of million dollars within 6 months, or he will eat his hat! His hat is safe. The really funny thing is the post Dan the economics voodoo man posted In summary, he says there is no way on earth NXT valuation could possibly go that high and emunie is so much better than NXT. James |
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