[RELAUNCH] HZxchange

[pharesim]

After several weeks of public testing, we are now ready to proudly announce the productive release of HZxchange!

The project

HZxchange is a decentralized cryptocurrency exchange with distributed storage. We currently allow the trading of Bitcoin, Litecoin, DASH, Cannabiscoin, Potcoin, NXT and Bitshares. More coins will follow soon.


The reason

Everybody knows that the old centralized exchange model has seen its best days. Hacks and scams have become everyday-business because although we want freedom from central authorities, we still had to trust single individuals, which often even weren't even known by real name.
With regulations kicking in, decentralization keeps you from giving your ID to a company you know nothing about. HZxchange is transparent, but still anonymous. You decide for yourself who you want to give information about your account to.


Security

Your funds are stored decentralized on multisig addresses, making it impossible for a single admin to run away with a wallet. The signatures are held by well-known members of the HZ (or the coin's) community. There's no public facing server a hacker could target, and even if he finds one that's not enough to get access to any coin. Trading takes place on the Horizon blockchain, using either a wallet of your choice or the dedicated webapplication at http://hzxchange.net The asset balances are snapshotted regularly, so if someone breaches the issuers account we'll just switch to another asset.
Of course we will keep up with HZ development. When phasing is implemented even the storage could be managed by a distributed system.


Terms

The network fee is 1 HZ (~ 0.000001 BTC) for each bid/ask. There's a 0.5% fee for deposits and 1% for withdrawals. Those are used to pay the shareholders and node operators. The numbers may be changed later, a prior announcement is self-evident.


Details

All deposits are sent to a multisig address. The user receives an asset to trade on the HZ blockchain. As soon as that asset was sold on the asset exchange, she has the HZ on her personal account. She can then decide to keep those HZ, or exchange them for another asset.

When she bought an asset and wants to withdraw, she has to send that asset back to the issuer. We are currently running 3 nodes monitoring those transactions. Each node checks the amount, the recipient and some other details, before it signs an outgoing transaction from the multisig address. When 2 nodes agree on the validity of a transaction, it is broadcasted and the user receives her coins.

Those numbers are variables, we can improve the security when the amount of deposited funds gets bigger. Instead of 2-of-3 multisig we could use 8-of-15, or any other number in between.

The gateway software is not yet fully P2P, at this point setting up a new multisig address is a manual process (once per coin).
One node acts as mainnode (keeps track of all transactions), the other two are only used for signing.
HZ multisig still is in development, and we can't give all admins access to the issued assets. They are currently handled by pharesim, who is running all main nodes.
As soon as HZ Phasing is implemented the assets will be decentralized too, and when we grow in users (and earn enough fees to pay for the required movements then) it's planned to reconsider the option of distributed storage management, which would allow a complete P2P solution with nodes with equal rights and voting mechanisms (signers, fees and more, per coin, based on hzxchange asset ownership).


Links
Website - http://hzxchange.net
Horizon - https://horizonplatform.io
Github - https://github.com/pharesim/HZx
Facebook - https://www.facebook.com/groups/HZxchange/?ref=bookmarks
Twitter - https://twitter.com/HZxchange
Forum - http://horizonplatform.io/topic/hzxchange/

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[DonShoshan]

Great service! Now, that poloniex is asking for our details this might be a very good alternative.

[pharesim]

We need to list more coins, but due to our dedicatedness to decentralization we don't want to run all the signing nodes with the same crew.

One node will always be run by the HZxchange dev team, but up to two others can and should be outsourced to the coins' dev and/or community. So if you belong to one of those groups, contact us to get your coin listed. All you need is a server able to run the coin wallet+hz.

[pharesim]

I did a lot of explaining about SSL encryption the last days, so I think it's a good idea to have a copy here to be able to give a link instead of writing the same thing all over again:

No private data is sent anywhere.

Offering SSL would give a false sense of security. Never enter your HZ passphrase in an untrusted location. Even when it's SSL encrypted, someone with access to the server can read it.
HZ services need to use local signing, which is the case for both the public wallet and hzxchange.
There's another good reason to not use SSL in this specific case. You can use a local node as backend (in the settings on the bottom of the page) right now, which doesn't work because of browser security settings when the main connection is encrypted.

[MemoryShock]

Watching...I think this is pretty cool.

[BDCoinMiner]

Cool to have dedicated thread for HZXchange

Current HZXchange asset Lowest Ask 40HZ Highest Bid: 33HZ

Let's trade!

[altsheets]

well done!

[joinmicah]

Please consider listing AltSheets on your Exchange

[pharesim]

Please consider listing AltSheets on your Exchange

Done 

[Erik Goff]

Great work guys
Is Monero already on your list of coins to add ?

[pharesim]

Great work guys
Is Monero already on your list of coins to add ?

Thanks

For now we only support BTC, BTS and NXT based coins. I will add CryptoNote and NEM later, but I absolutely can't tell when. Will be a while, my to-do-list is getting bigger instead of smaller all the time
The code's on github though, anyone could add it...

[www.www]

Please consider listing AltSheets on your Exchange

Done  

They will include all the coins from Cryptsy Bittrex Poloniex. It is high time to put an end to this centralization. Please announce the list of planned to include coins. I look forward to.  

[coinfused.so]

how the hell do you cancel your bid?!
its super slow also...

[pharesim]

This needs to be done on the wallet for now (https://account.horizonplatform.io).
Go to Asset Exchange -> Open Orders

Will be possible on the hzxchange site with the next update.


If placing orders etc. is too slow, try using your local node as backend (settings below the coin table)

[tiker]

I tried to generate a deposit address for HZxDASH a little over 6 days ago.  Today, the site still shows "waiting for address".

You might want to look into that.

[pharesim]

Done. Thanks for reporting and sorry for the waiting time.

[tiker]

Done. Thanks for reporting and sorry for the waiting time.

Thanks. 

[pharesim]

Follow HZx on twitter! https://twitter.com/HZxchange

[pharesim]

Added trade history and the ability to cancel orders
Enjoy!
http://hzxchange.net

[pharesim]

HZxBTS has been disabled until further notice. The reason is an api change which doesn't allow withdrawals any more.

If anybody knows how to get the public address from an account, now that wallet_get_account_public_address has been removed, that would help a lot!

[pharesim]

Website sourcecode is now available here:
https://github.com/pharesim/hzxchange.net

It was rewritten to work without external scripts, all it needs is a public HZ node.
You can now run it in your browser without needing a web server, just open the index.html.
This will enable us to create mobile apps from it too.

If you want to work on some styling (especially for mobile view), feel free to submit a pull request.

[2bacco]

Hi guys, please add 2BACCO Coins for trading

2BACCO annoucement thread at bitcointalk
https://bitcointalk.org/index.php?topic=1096693.0


Official 2BACCO website:  http://www.2bacco.com

[MemoryShock]

Hi guys, please add 2BACCO Coins for trading

2BACCO annoucement thread at bitcointalk
https://bitcointalk.org/index.php?topic=1096693.0


Official 2BACCO website:  http://www.2bacco.com

Spam for scam coin should be removed...and this post along with it...

[Pab]

Great work guys
Is Monero already on your list of coins to add ?

Thanks

For now we only support BTC, BTS and NXT based coins. I will add CryptoNote and NEM later, but I absolutely can't tell when. Will be a while, my to-do-list is getting bigger instead of smaller all the time
The code's on github though, anyone could add it...

Hi
is that mean that it is possible to simply add coin to your exchange,that could be nice,Horizon is really great development,worth to support

[pharesim]

Yes, all BTC based coins which support multisig can easily be added. It requires 2 persons (+ one of us), each running a server with the coin wallet(s), HZ, and a script to sign valid withdrawals.

[Pab]

Yes, all BTC based coins which support multisig can easily be added. It requires 2 persons (+ one of us), each running a server with the coin wallet(s), HZ, and a script to sign valid withdrawals.

Thank you very much


.Development what i support is not any blockchain based,it is new technology designed for price stability

with halfsecond transaction and deflation inflation control.RPCJason has been done for integration with exchanges,but itcould be not enough,maybe later will be possible when Horizon Ex will be more improved

We are now on Horizon like asset

[pharesim]

Blocknet has been added. Asset ID 7736176051673290195

[Emerger]

I've been trying to get the code from github working with my own instance of HZ, which is running on my LAN.

I've put the address of my local nhz server in the config.js file

i.e. var server = 'http://10.0.0.12:7776';

I can access the HZ wallet at that same address, but when I open HZxchange's index.html all I see is "Loading..."

Any guess as to what I am doing wrong?

javascript is enabled, etc. I'm wondering if I need to do anything special with my HZ server's config. As said, I can access the HZ wallet directly without issues.

Thanks!

[tiker]

Is there a minimum deposit required?  Just playing around I sent a few DASH transactions from a faucet to my address.  I received a bunch of messages in the HZ wallet saying a transaction was detected and assets will be transferred once confirmed but the assets haven't been sent.  The first message was sent July 3rd so it's been a couple of weeks.

[pharesim]

The minimum fee for DASH deposits and withdrawals is 0.005, set via the hzxdashminfee alias.

[pharesim]

One of the signing servers was lost. Please withdraw your funds until this issue has been solved.

If you're willing and able to run a server with hz, the wallets of the coins listed and a small script please contact me as soon as possible.

[Emerger]

One of the signing servers was lost. Please withdraw your funds until this issue has been solved.

If you're willing and able to run a server with hz, the wallets of the coins listed and a small script please contact me as soon as possible.

Thanks for notifying us. I hope you will find somebody who can maintain the necessary replacement server. I'll personally donate 100k HZ to anyone who steps up to do this, and keeps it running for at least a month (subject to pharesim's acceptance).

[pharesim]

One of the signing servers was lost. Please withdraw your funds until this issue has been solved.

If you're willing and able to run a server with hz, the wallets of the coins listed and a small script please contact me as soon as possible.

Thanks for notifying us. I hope you will find somebody who can maintain the necessary replacement server. I'll personally donate 100k HZ to anyone who steps up to do this, and keeps it running for at least a month (subject to pharesim's acceptance).

If you're sure you want to do that, that's about the total of what we made in fees so far...


We seem to be in kind of a hen and egg problem here. We'd need more listed coins to be attractive for users, and more users to make signing rentable.

I've been thinking about starting a fundraising to get HZxGO done, because it may solve the problem by letting the traders run own signing nodes from the interface. But it'd be a lot more work than what we have now, I definitely couldn't do it alone, even if I quit my bill-paying dayjob, and would need to hire a team. When my calculations reached 100k$ and I wasn't near done with everything I felt like that's not the way to go too.

Someone contacted me on fb already, but don't let that hold you back if you could host some wallets too, there's a lot of coins which could be added...

[Emerger]

If you're sure you want to do that, that's about the total of what we made in fees so far...


We seem to be in kind of a hen and egg problem here. We'd need more listed coins to be attractive for users, and more users to make signing rentable.

I've been thinking about starting a fundraising to get HZxGO done, because it may solve the problem by letting the traders run own signing nodes from the interface. But it'd be a lot more work than what we have now, I definitely couldn't do it alone, even if I quit my bill-paying dayjob, and would need to hire a team. When my calculations reached 100k$ and I wasn't near done with everything I felt like that's not the way to go too.

Someone contacted me on fb already, but don't let that hold you back if you could host some wallets too, there's a lot of coins which could be added...

Well, I want to see HZxchange gain popularity but don't have time to maintain a server for that many coins myself - hence I'm happy to offer a 100k HZ reward to the person who does step up to the job of replacing the servers in a dedicated way.

I'm also happy to contribute an equal or greater reward towards anyone who substantially improves the CSS "look and feel" of HZxchange (PR on github). i.e. display proper candlestick price/volume graphs, in addition to looking much prettier. Yet the requirements and ideas for that are probably best defined by you before anything is promised. Do you have any thoughts on this?

As far as new coins, I've been thinking about getting EmerCoin listed at HZxchange. It's all about decentralized services so I think would fit right in, and I could probably convince another from that community to run another node, and run a server myself. Preferably the third server to be run by someone in HZ. But that's just one coin, so doesn't help with the current problem, does it?

Hopefully the right people to run servers for the existing HZxchange coins will come along... as well as new coins.

Also, do you mind me asking - what happened to cause one of the signing servers to be lost? ( all the coins at https://horizonplatform.io/topic/hzxchange/ list Multisig: pharesim, james, scarecrow, so I assume someone stepped down from running nodes? )

[pharesim]

Sorry for the non-communication. The gateway is still running on two nodes, but we're nearing the moment where I find motivation to prepare the transactions to move the funds to the already created new multisig addresses.
Not that a lot of people would've restrained from using the exchange because of that

I still would love to keep working on a truely decentralized exchange for HZ, but there's just no chance for it paying off, and I'm not willing to work as much for free any more as I did during the last three years.

Now BTS 2.0 has the so-called worker proposals, which allow funding projects from the blockchain by vote. Creating what I intended for HZxGO would allow me laying it out in a way that makes it easy to port back to HZ. So if you're in BTS, please support my worker proposal

https://bitsharestalk.org/index.php/topic,19351.0.html

[n2004al]

I am new to horizon and I want to buy HZxchange with HZ. Up the place when are the order which buy such asset is written: This asset represents 100% of the fees generated by the different HZx assets. Payouts are processed weekly. Visit the official Horizon forum or join HZxchange on Facebook for more information.

Can anyone explain me how is determined the amount of payouts every week and the approximate value of this payout (for example the weekly amount in the last 3-4 weeks). Have to do this with the amount of the HZxchange units bought (must be so but I must ask even for this to be sure)?. I see that the price of 1 unity of HZxchange is decreasing. Is this connected even with the weekly amount earned (weekly payouts)? Then the payout are lifetime if I don't sell my HZxchange?

Then the payout are the same if I buy HZxchange from the people who sell those (showed with red) and not directly from the place when are sold normally (showed with green)? So the HZxchange unit (the amount of unit) that will be bought is the same and have the same value and give the same profit independently from the place where is (are) bought (from the red side and from the red one)?
 
Thanks in advance who will answer to me.

[pharesim]

hzxchange.net is back up, currently only with a couple of assets. We're working on getting the balances transferred and adding the coins that were listed before.

The total fees so far accumulated to 200k HZ, which will be paid out to holders later. Let's hope that we'll get some activity in the near future to make it worth the while.