| ARDOR | Scalable Blockchain-as-a-Service Platform | Proof of Stake

[martismartis]

Nxt Coinshuffle Infographic!

This is the first infographic made by Savandra.

Use it where you can, please!

More details. I mean how do I get the Bitcoins into the shuffling service? I mean, lets say I have the NXT wallet, can't send Bitcoins with it.

Yes, you can send BTC to NXT wallet. For this you need Supernet Lite client from www.supernet.org How it works you can read at www.multigateway.org

[bbc.reporter]

@martismartis. It is not really the same. Why would I have to go thru NXT and multigateway when there are already reputable tumblers out there? Also the volume and amount of coins the tumbling service will really matter so that the mixing of the coins will become more effective. I believe the coin shuffling service is not really used by the bitcoin users so there is reason to believe that the volume there is low.

[martismartis]

Do you know other decentralized mixing service on blockchain? Link?

I was just answering @Startselect question about possibility to transfer BTC to NXT wallet and possibility to shuffle them. You don't need to go thru NXT and multigateway if you don't need this service. There are users who use it. It's just a possibility to mix your btc using NXT platform in a decentralized way. You use it or not.

[durerus]

The mixing is decentralized. The storage of BTC is distributed on 2of3 multisig-adress. You dont control one of these keys. There is no other way to do it. So you cant complain, if you know what you are talking about. If your critique is lack of users, then go ahead and organize a regular meeting of mgwBTC holders for mixing purposes. The tech is ready and working.

[freshman777]

@martismartis. It is not really the same. Why would I have to go thru NXT and multigateway when there are already reputable tumblers out there? Also the volume and amount of coins the tumbling service will really matter so that the mixing of the coins will become more effective. I believe the coin shuffling service is not really used by the bitcoin users so there is reason to believe that the volume there is low.

Reputable tumblers can keep logs of in and out addresses and can be honeypots to collect a database of such transactions. Nobody knows who operates them.
NXT coin shuffling is decentralized, no logs, no operator.
Your reasoning is again the same. Everybody uses bitcoin mixers - so they must be good. Everybody uses banks - they must be good and then we don't need cryptocurrency.

[smokim87]

I might have missed it somewhere but wondering if we know what the current total Ardor supply is at the moment. Guessing same amount what nxt has?

[martismartis]

I might have missed it somewhere but wondering if we know what the current total Ardor supply is at the moment. Guessing same amount what nxt has?

Will be distributed the same amount as NXT in circulation. Check www.coinmarketcap.com for numbers.

[Damelon]

@martismartis. It is not really the same. Why would I have to go thru NXT and multigateway when there are already reputable tumblers out there? Also the volume and amount of coins the tumbling service will really matter so that the mixing of the coins will become more effective. I believe the coin shuffling service is not really used by the bitcoin users so there is reason to believe that the volume there is low.

I believe you are replying under the mistaken assumption that this is aimed at Bitcoin users.
It's a feature of Nxt and this *can* be used by people who also use Bitcoin.
However, it's primary function is for Nxt.

Your assumption would be analogous to saying that the new lock on my car is cool, but useless because it doesn't fit on *your* car without modification.

That comment would be of course true, but would also not make sense.

Nxt CoinShuffling is a working version of the protocol and the first implementation of the decentralised CoinShuffling protocol. Whether or not it is useful for Bitcoin is a moot point.
The opinion that it *should* be useful for Bitcoin is not something to lay at the feet of the Nxt developers. It makes no sense for them to develop a tool in their own platform with the express reason of servicing another platform. While that may bring volume, it can not be the prime reason for any implementation. Nxt and Ardor build for Nxt and Ardor, not for Bitcoin.

[kpierce77]

So, I've been forging now for something like 2 weeks, however have yet to receive any NXT.  Currently forging with 46,345 NXT.  Using the Mac NXT wallet version 1.10.2.  Connected to localhost: 7876.  Am I missing something?

[freshman777]

So, I've been forging now for something like 2 weeks, however have yet to receive any NXT.  Currently forging with 46,345 NXT.  Using the Mac NXT wallet version 1.10.2.  Connected to localhost: 7876.  Am I missing something?

There are few transactions in blocks, many blocks have 0 fees. You should be able to generate a block with this balance once in a while, but it will possibly be empty. Forging an empty block still protects the network as each forged block raises the cumulative difficulty of the chain, you protect your investment in NXT when you forge.

[kpierce77]

So, I've been forging now for something like 2 weeks, however have yet to receive any NXT.  Currently forging with 46,345 NXT.  Using the Mac NXT wallet version 1.10.2.  Connected to localhost: 7876.  Am I missing something?

There are few transactions in blocks, many blocks have 0 fees. You should be able to generate a block with this balance once in a while, but it will possibly be empty. Forging an empty block still protects the network as each forged block raises the cumulative difficulty of the chain, you protect your investment in NXT when you forge.

Ok that's fine. I just remember when I used to hold Horizon I'd stake at least a little HZ every day. It was fun.

[farl4web]

So, I've been forging now for something like 2 weeks, however have yet to receive any NXT.  Currently forging with 46,345 NXT.  Using the Mac NXT wallet version 1.10.2.  Connected to localhost: 7876.  Am I missing something?

To really have a chance of forging more blocks, I suggest to have more NXT. Every block one out of the total supply of NXT is chosen (from the +/- 1.000.000.000 NXT) and if that account is forging you will be lucky to forge a block. 46k is a bit to less to forge a lot, maybe once a week, I guess.

[martismartis]

https://twitter.com/ArdorPlatform/status/780168243780673537

[martismartis]

https://twitter.com/EvilDave_NXT/status/780171404528480258

[googie4]

I have an NXT wallet with around 50 Nxt. I know I won't forge probably anything with that. But would forging with 50 nxt protect the network as much as forging with 50,000,000 NXT. Or the more you have the better it's protected?

[farl4web]

https://twitter.com/ArdorPlatform/status/780168243780673537

Just quoting the content of the tweets from above, for the non-twitter users.

"The Ardor asset is the one with ID number 12422608354438203866. We cannot guarantee ARDR from other assets on the AE or Marketplace."

[farl4web]

I have an NXT wallet with around 50 Nxt. I know I won't forge probably anything with that. But would forging with 50 nxt protect the network as much as forging with 50,000,000 NXT. Or the more you have the better it's protected?

Nxt uses the Proof-of-Stake consensus system. The more stake(NXT) you have the more power you have to protect the network. Blockchains always want to protect themselves for 51% attacks, so if anyone has more than 51% of NXT, they could be able to create there own fork and do stuff like double spends. So the more people who forge, the less chance a hacker gets to manipulate the network. Sidenote: you need at least 1000 NXT to be able to forge. And you can lease your NXT to a leasing pool and you will get a percentage of what they are earning.

[googie4]

I have an NXT wallet with around 50 Nxt. I know I won't forge probably anything with that. But would forging with 50 nxt protect the network as much as forging with 50,000,000 NXT. Or the more you have the better it's protected?

Nxt uses the Proof-of-Stake consensus system. The more stake(NXT) you have the more power you have to protect the network. Blockchains always want to protect themselves for 51% attacks, so if anyone has more than 51% of NXT, they could be able to create there own fork and do stuff like double spends. So the more people who forge, the less chance a hacker gets to manipulate the network. Sidenote: you need at least 1000 NXT to be able to forge. And you can lease your NXT to a leasing pool and you will get a percentage of what they are earning.

I forgot that you needed at least 1000. Also, if some one has 51% of NXT, how exactly can they fork it? I mean wouldn't code have to be involved.

[farl4web]

I have an NXT wallet with around 50 Nxt. I know I won't forge probably anything with that. But would forging with 50 nxt protect the network as much as forging with 50,000,000 NXT. Or the more you have the better it's protected?

Nxt uses the Proof-of-Stake consensus system. The more stake(NXT) you have the more power you have to protect the network. Blockchains always want to protect themselves for 51% attacks, so if anyone has more than 51% of NXT, they could be able to create there own fork and do stuff like double spends. So the more people who forge, the less chance a hacker gets to manipulate the network. Sidenote: you need at least 1000 NXT to be able to forge. And you can lease your NXT to a leasing pool and you will get a percentage of what they are earning.

I forgot that you needed at least 1000. Also, if some one has 51% of NXT, how exactly can they fork it? I mean wouldn't code have to be involved.

If you rule the majority of a blockchains token (51% attack can happen in Bitcoin too) you can somehow (don't know how) confirm your own branches. More info here: https://en.wikipedia.org/wiki/Nxt. Nxt uses Proof-of-Stake instead of Proof-of-Work, such as Bitcoin does. Proof-of-Stake is better protected against 51% attacks because of the economic reason. You have to buy 51% of the coins (about $ 7 Million) and this demand will increase the price heavy. So probably they will pay $70 Million (just a prediction). Watch more info about Nothing-at-stake too: https://www.youtube.com/watch?v=pzIl3vmEytY

Bitcoin use Proof-of-Work (mining) and the miningpools control big parts of the Bitcoin hashrate (https://blockchain.info/pools), when they together reach 51% of the hashrate they can start spam the network. They don't have to buy coins, they just point their mining rigs to Bitcoin-mining (instead of another altcoin).

Hope this helps you understand. This mechanism was one of the reasons I joined Nxt, they think different and are more safe. 

[kpierce77]

Seriously, what the hell is going on with NXT's price?