[ANN][MSK]MaskNetwork - the decentralized social network that pay users to post

[windjc]

Thanks for the update. My question is when and how are you going to start marketing this? There doesn't seem to be any community at this time. Unless there is a Slack or a Ryver that I am not aware of.

We don't need end-users right now. We need EXPERIENCED TESTERS THAT UNDERSTAND DECENTRALIZED NETWORKS.

Do you have these?

[1714932184]

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[tklmas]

I have two tester accounts but did not use for a period of time. After that, I tried to login and found the accounts suspended. Is it normal?

[mamamae]

so no more info ... ?

[themasknetwork]

so no more info ... ?

On Mars, 7 we will release a major update.

[themasknetwork]

Ok. We have just launched new sections :

- Margin markets
- Market pegged assets
- Regular assets markets
- Assets Exchangers
- Escrowers

On 20 Mars we will implement the last remaining section (the Marketplace). It's the last because it uses a lot of other sections like escrowers and assets. I will talk about those new sections in the following days. Today i will explain what a margin market is.

MArgin Markets
A margin market is a market where users can trade a real world asset on leverage but without borrowing any amount of money. Because it's something 100% new in crypto world, i  will explai the concept by giving an example.

Let's say, you have some 10000 MSK and want to make a profit. You know that over 80% of traders loose money on long term and you think that trading it's too risky for you. So you open a margin market over Masknetwork and allow others to trade. You choose NXT because it's popular cryptocoin that can't be traded on margin anywhere else. You want to allow others to trade MSK on margin using a x500 leverage. So :

- You choose a data feed CRYPTO/NXTUSD (http://hiddenwallet.org/pages/assets/feeds/branch.php?feed=CRYPTO&symbol=NXTUSD)

- You go here and setup your market. http://hiddenmarket.info/pages/assets/margin_mkts/my_mkts.php?act=show_new_mkt_panel. There are a tons of settings but the most important are  maximum leverage, collateral and the spread. Your collateral will be 10.000 MSK (but it can be any other asset also)

- The new market packet is broadcasted and once included in a block, all nodes will create your market. And here it is :  http://hiddenmarket.info/pages/assets/margin_mkts/market.php?ID=4173675322 waiting for traders.

- An user launch a position on your market. The position will start on red because of the spread. The user will specify the open price, stop loss, take profit, the leverage and NXT qty to buy or sell. He / she will pay the margin. The margin will go to the market balance.
And here is the position. A buy order of 1000 NXT at x100 leverage using a margin of only 1.3809 MSK : http://hiddenmarket.info/pages/assets/margin_mkts/story.php?posID=7345434357

- After each feed tick, all nodes will update all positions PL. When a position touch the TP or SL, the network will close the position.

How the trade can end :

- The trade is closed manually on red. In this case the user will receive back the remaining margin. The rest is the market profit.
- The trade hits stop loss. The user will receive nothing back. The margin is the market profit.
- The trade is closed manually on green. In this case the user will receive back the margin plus the profit. The profit is paid by market. In this case the market looses money.
- The trade hits take profit. In this case the user will receive back the margin plus the profit. The profit is paid by market. In this case the market looses money.

Basically the traders profits are the margin market's looses and vice versa. But because over 80% of traders loose money on long term, the margin markets have bright future )

General Benefits :

- No broker is involved

- Because there is no broker there is no regulation regarding positions sizes or maximum leverage. Right now regulated US forex brokers can offer up to x50 leverage.

- No central server, no AML or other bullshit.

- 100% transparency. Margin markets are 100% driven by open source software.


Benefits for margin markets owners :

- When it comes to leveraged trading, traders usually loose a lot and they loose fast. And all that traders loose, is the market gain. There is a rule saying 90% of traders loose 90% of their capital in the first 90 days...

- No regulation. You are free to choose what to offer for trading and how. Nobody knows who you are or where you live.


Benefits for traders :

- You can trade in insane ways. You can buy or sell any qty that market allows using huge leverages. You choose how much you want to trade and at what leverage. Imagine buying 0.01 Apple shares at x1000 leverage. Sky is the limit.

- You can't be cheated and the broker can't say i will not pay you. Once you open a position, the whole process will be managed by the network.  



Of course there are tons of details regarding the margin markets. This was just a short introduction. Stay tuned.

[vprf]

Keep up the good work.  Can't wait for the finished version.

[mamamae]

would be possible to use any coin or will be used only coin already on exchanges like bittrex , poloniex or bter ?
how can a coin be chosen to be traded , i'm very interested .

[lin0sspice]

Website is not fully working right ?
Description bar is showing http address.

[themasknetwork]

would be possible to use any coin or will be used only coin already on exchanges like bittrex , poloniex or bter ?
how can a coin be chosen to be traded , i'm very interested .

If there is a data feed and a market you can trade anything. This data feed (http://hiddenwallet.org/pages/assets/feeds/feed.php?symbol=CRYPTO) will add 20 more coins today. If someone starts a market around one of the feed branches then you will be able to trade a new coin.

In the next days more data feeds will be available for FOREX pairs, commodities and stocks. There is no limit on what you can trade.

Also markets can use not only MSK as currency. They can use any other asset as currency.

[jupiter00000]

A silk road with a coin.

On an unsecured, public website and zero commmunity. Seems legit.

I remember seeing the ICO price.

I was like, seriously? They expect people to pay that much?

I see 500 coins have been sold.

The website claims the market will be live on "Mars 20th"

[themasknetwork]

A silk road with a coin.

On an unsecured, public website and zero commmunity. Seems legit.

I remember seeing the ICO price.

I was like, seriously? They expect people to pay that much?

I see 500 coins have been sold.

The website claims the market will be live on "Mars 20th"

A silk road with a coin - It's not hard to see that MaskNetowrk is much more than "a silk road with a coin". The "silk road" section is not even online.

On an unsecured, public website and zero commmunity. Seems legit.  - There is no website. There are 7-8 webnodes and 10-20 desktop nodes operating on the testnet. It's a decentralized network in primary testing phase. We have no intention to advertise or start creating  a community around an alpha WIP (work in progress) software. Never !!!

I see 500 coins have been sold. - 40.500 coins were sold. It's not much compared to other ICO's but we are well funded and the ICO doesn't really matter for the project's future.

The website claims the market will be live on "Mars 20th" - We have a clear roadmap and it's public.


We are receiving messages every day , asking us to promote MaskNetwork and starting the official forums / blogs. The reason we have delayed this phase is simple. The most important sections (ecommerce and smart contracts) are not yet live. They will be live in April.  

Those two sections are build on top of already implemented features and without them the project is only half functional. The forum and the first stage of advertising campaign will start at the end of april.

We have made the mistake in the past to advertise incomplete / unstable products and we are not going to do it again.

 

[themasknetwork]

Small update :

Smart contracts - this was a feature that was scheduled to be launched in May. We think smart contracts are a handy tool especially if they run inside an "operating system" like MaskNetwork, but many others think they are a big deal and will change everything so we have speed up the smart contracts development and now we have a clear date for the POC 1, on April 5.   

Smart contracts are written using MaskNetwork Script Language (MSL) which is a turing complete low level language. Smart contracts will run on the mainchain inside MVM (MaskNetwork Virtual Machine) and because they run on top of an "operating system", they have some really nice fetures compared to Ethereum. A MaskNetwork smart contract can send messages, post tweets, post adertising messages, launch trades or binary options, transfer assets of market pegged assets  and many other cool things, impossible over Ethereum or Lisk

 They can be used to build 100% autonomus decentralized corporations that self promote, trade and interact.

Mining Algorithm - As you already know 50% of new coins will be distributed by interest and half to miners. We have studied many other mining algorithms and we decided to use a new algorithm derived from X11. We call it Polymorphic X34 (PX34). Unlike X11 that uses 11 hash functions, PX34 uses 34 hash functions and the order of hashing functions change after each block (depending on the last block hash).

Basically the mining algorithm changes after each block, making it 100% ASIC resistant because the most efficient way to run an algorithm that is always changing is to use a computer microprocessor. 

[tobeaj2mer01]

Small update :

Smart contracts - this was a feature that was scheduled to be launched in May. We think smart contracts are a handy tool especially if they run inside an "operating system" like MaskNetwork, but many others think they are a big deal and will change everything so we have speed up the smart contracts development and now we have a clear date for the POC 1, on April 5.   

Smart contracts are written using MaskNetwork Script Language (MSL) which is a turing complete low level language. Smart contracts will run on the mainchain inside MVM (MaskNetwork Virtual Machine) and because they run on top of an "operating system", they have some really nice fetures compared to Ethereum. A MaskNetwork smart contract can send messages, post tweets, post adertising messages, launch trades or binary options, transfer assets of market pegged assets  and many other cool things, impossible over Ethereum or Lisk

 They can be used to build 100% autonomus decentralized corporations that self promote, trade and interact.

Mining Algorithm - As you already know 50% of new coins will be distributed by interest and half to miners. We have studied many other mining algorithms and we decided to use a new algorithm derived from X11. We call it Polymorphic X34 (PX34). Unlike X11 that uses 11 hash functions, PX34 uses 34 hash functions and the order of hashing functions change after each block (depending on the last block hash).

Basically the mining algorithm changes after each block, making it 100% ASIC resistant because the most efficient way to run an algorithm that is always changing is to use a computer microprocessor. 

How can we mine this coin, is there any detailed guide?

[themasknetwork]

As we have promised, smart contracts are up and running. We have introduced a new section called Applications. It has 4 sub sections


New Sections :
----------------------------------------------------
- Applications Directory : in order for your application to be visible, you need to publish it to app directory. This section is different from App Store section.

- Applications Store : here are listed applications for rent. As you already know, everything on MaskNetwork is rented. Everything expire after a while so applications can't be bought, only rented. 

- My applications : Here are displayed your installed applications.

- Write Application : Using this section you will be able to write dapps. It comes with an online compiler.

About MaskNetwork Scripting Language (MSL)
----------------------------------------------------------
MSL is a low level turing complete scripting language, that allows you to write decentralized applications that will run inside the network. There is nothing to download. The wallet comes with an integrated compiler (Main Menu >  Applications > Write Applications). It also comes with one click installer that broadcast and install your app to the network. All applications are run on the main chain inside MaskNetwork Virtual Machine (MVM).

Application creation workflow :
---------------------------------------------------------- 
- You login into your account on one of wallets and write an app.

- After compiling, if there are no syntax errors, you are ready to install the app to network. Until then the code is saved on your wallet but it will not run.

- In order for your app to run it has to be installed. It's a one click process. Just go to Write Applications section and choose "Deploy to Network". It costs 0.0001 MSk / day.

- After your app is accepted by the network, you can start use it. Depending on your code the application will wake up after it receives a transaction, a message or at specified intervals. It can run for example every 5 blocks.

- From this point, you have multiple options :
a. Publish your application to directory for other to use it. It's a form of advertising.
b. Publish your application to market and rent it for a price.
c. Seal it : a seal application can't be modified by owner. It becomes 100% autonomus and it will run until it run out of funds. This is an essential feature.
d. Froze it : a frozen application i stii installed on the network but it's "inactive". It will not run.
e. Unistall application:  if the application is not sealed, you can uninstall it (the nodes will delete your app drom db).


This is sample application that will wake up after it receives a transaction and will send a message back. It will also post a tweet : http://maskwallet.com/pages/app/directory/app.php?ID=4049758653

We will come back with details in the following days. This is a complex and inportant section. We will upload next week the full MSL language reference.


 

[Ris88]

I still would like to see it go to a good future, just wish it had a roadmap, at least I can be a part of this thread, cheers

[themasknetwork]

Small update :

Smart contracts - this was a feature that was scheduled to be launched in May. We think smart contracts are a handy tool especially if they run inside an "operating system" like MaskNetwork, but many others think they are a big deal and will change everything so we have speed up the smart contracts development and now we have a clear date for the POC 1, on April 5.  

Smart contracts are written using MaskNetwork Script Language (MSL) which is a turing complete low level language. Smart contracts will run on the mainchain inside MVM (MaskNetwork Virtual Machine) and because they run on top of an "operating system", they have some really nice fetures compared to Ethereum. A MaskNetwork smart contract can send messages, post tweets, post adertising messages, launch trades or binary options, transfer assets of market pegged assets  and many other cool things, impossible over Ethereum or Lisk

 They can be used to build 100% autonomus decentralized corporations that self promote, trade and interact.

Mining Algorithm - As you already know 50% of new coins will be distributed by interest and half to miners. We have studied many other mining algorithms and we decided to use a new algorithm derived from X11. We call it Polymorphic X34 (PX34). Unlike X11 that uses 11 hash functions, PX34 uses 34 hash functions and the order of hashing functions change after each block (depending on the last block hash).

Basically the mining algorithm changes after each block, making it 100% ASIC resistant because the most efficient way to run an algorithm that is always changing is to use a computer microprocessor.  

How can we mine this coin, is there any detailed guide?

All wallets will start to mine using available addresses. We don't have yet a step by step guide. Because the algorithm is new and it changes after each block, CPU mining is the only form of mining that will be available at launch time.

In MaskNetwork mining is a bit different than other cryptocoins because you don't need only hashing power but coins also. Even if it's a POW algorithm the difficulty changes depending on the mining address balance. Those are the basic mining rules :

- One address can mine only once every 1000 blocks (the network has 1 block / minute)

- After mining a block you can't spend funds from that address for 1000 blocks.

- Mining difficulty changes depending on the address balance. An address holding 1000 MSK will mine on a difficulty 10 times lower than an address holding 100 MSK.

Without stakeholders or a lot of coins, the biggest mining operation in China will be useless even if they have tons of hashing power. Over MaskNetwork, mining power is a balance between hashing power and the stake you hold.

[johny08]

Small update :

Smart contracts - this was a feature that was scheduled to be launched in May. We think smart contracts are a handy tool especially if they run inside an "operating system" like MaskNetwork, but many others think they are a big deal and will change everything so we have speed up the smart contracts development and now we have a clear date for the POC 1, on April 5.  

Smart contracts are written using MaskNetwork Script Language (MSL) which is a turing complete low level language. Smart contracts will run on the mainchain inside MVM (MaskNetwork Virtual Machine) and because they run on top of an "operating system", they have some really nice fetures compared to Ethereum. A MaskNetwork smart contract can send messages, post tweets, post adertising messages, launch trades or binary options, transfer assets of market pegged assets  and many other cool things, impossible over Ethereum or Lisk

 They can be used to build 100% autonomus decentralized corporations that self promote, trade and interact.

Mining Algorithm - As you already know 50% of new coins will be distributed by interest and half to miners. We have studied many other mining algorithms and we decided to use a new algorithm derived from X11. We call it Polymorphic X34 (PX34). Unlike X11 that uses 11 hash functions, PX34 uses 34 hash functions and the order of hashing functions change after each block (depending on the last block hash).

Basically the mining algorithm changes after each block, making it 100% ASIC resistant because the most efficient way to run an algorithm that is always changing is to use a computer microprocessor.  

How can we mine this coin, is there any detailed guide?

All wallets will start to mine using available addresses. We don't have yet a step by step guide. Because the algorithm is new and it changes after each block, CPU mining is the only form of mining that will be available at launch time.

In MaskNetwork mining is a bit different than other cryptocoins because you don't need only hashing power but coins also. Even if it's a POW algorithm the difficulty changes depending on the mining address balance. Those are the basic mining rules :

- One address can mine only once every 1000 blocks (the network has 1 block / minute)

- After mining a block you can't spend funds from that address for 1000 blocks.

- Mining difficulty changes depending on the address balance. An address holding 1000 MSK will mine on a difficulty 10 times lower than an address holding 100 MSK.

Without stakeholders or a lot of coins, the biggest mining operation in China will be useless even if they have tons of hashing power. Over MaskNetwork, mining power is a balance between hashing power and the stake you hold.

@masknetwork

Is there an explanation how the decentralized system works.

You dont have any server running or do you?

Thanks

[windjc]

How many total coins will there be to be mined?

[themasknetwork]

Small update :

Smart contracts - this was a feature that was scheduled to be launched in May. We think smart contracts are a handy tool especially if they run inside an "operating system" like MaskNetwork, but many others think they are a big deal and will change everything so we have speed up the smart contracts development and now we have a clear date for the POC 1, on April 5.  

Smart contracts are written using MaskNetwork Script Language (MSL) which is a turing complete low level language. Smart contracts will run on the mainchain inside MVM (MaskNetwork Virtual Machine) and because they run on top of an "operating system", they have some really nice fetures compared to Ethereum. A MaskNetwork smart contract can send messages, post tweets, post adertising messages, launch trades or binary options, transfer assets of market pegged assets  and many other cool things, impossible over Ethereum or Lisk

 They can be used to build 100% autonomus decentralized corporations that self promote, trade and interact.

Mining Algorithm - As you already know 50% of new coins will be distributed by interest and half to miners. We have studied many other mining algorithms and we decided to use a new algorithm derived from X11. We call it Polymorphic X34 (PX34). Unlike X11 that uses 11 hash functions, PX34 uses 34 hash functions and the order of hashing functions change after each block (depending on the last block hash).

Basically the mining algorithm changes after each block, making it 100% ASIC resistant because the most efficient way to run an algorithm that is always changing is to use a computer microprocessor.  

How can we mine this coin, is there any detailed guide?

All wallets will start to mine using available addresses. We don't have yet a step by step guide. Because the algorithm is new and it changes after each block, CPU mining is the only form of mining that will be available at launch time.

In MaskNetwork mining is a bit different than other cryptocoins because you don't need only hashing power but coins also. Even if it's a POW algorithm the difficulty changes depending on the mining address balance. Those are the basic mining rules :

- One address can mine only once every 1000 blocks (the network has 1 block / minute)

- After mining a block you can't spend funds from that address for 1000 blocks.

- Mining difficulty changes depending on the address balance. An address holding 1000 MSK will mine on a difficulty 10 times lower than an address holding 100 MSK.

Without stakeholders or a lot of coins, the biggest mining operation in China will be useless even if they have tons of hashing power. Over MaskNetwork, mining power is a balance between hashing power and the stake you hold.

@masknetwork

Is there an explanation how the decentralized system works.

You dont have any server running or do you?

Thanks

There are 6 web nodes up and running (check www.masknetwork.com).

What do you mean by "decentralized system" ? Mining algoritm, hashing, consensus,... ?

There are many aspects.

[prix]

What do you want to do with money from presale?

I check the wallet: is very very raw.
Many link is not working (nothing happened or 404 - as example some links from bottom bar).
Escrowers section has same text as Binary Options.
Goods section has "This sections will be launched in January,2016".
Digital good has "This sections will be launched in April,2016" and then tabs were gone.
Services has same story.
Addresses list in the Explorer is empty.
Trade -> Data Feeds, Details, links from Bets, Assets and Markets are same and go to "My Feeds" section.
When you click Transactions in the bottom bar Tweets sections has higlighted.
And I can't find the way to go to Transactions from top bar.
...
Good luck in any case, I rember you from 2014 launch and your desktop wallet.