NXT :: descendant of Bitcoin - Updated Information

[salsacz]

Ok so basically the more NXT you have the better your chance of winning the right to author the next block right? Its sort of like a lottery and every unit of currency is a ticket, or an entry into that lottery. do i have that right?

more Nxt - sooner win. But gained amount is also different - rich people get more than poor users...

[1714289640]

1714289640

[1714289640]

1714289640

[salsacz]

***

In last days I am trying to create useful lists of tasks and people... Orientation is really needed

1. Here is a topic about Nxt team with gdoc, where you can sign up to the team:
https://nextcoin.org/index.php/topic,793.0.html

2. Here is updated Todo list (short / long therm Priorities):
https://nextcoin.org/index.php/topic,17.msg6721.html#msg6721

- there are some updates from forums, from gdoc and also I added some entries by spying peercoin volunteers group

I think that if anyone wants to help with the project, he should start here

***

[Mogly]

Hi, can anyone explain to me how it's supossed to work the descentraliced exchange?

[salsacz]

From Wiki:
To exchange cryptocoins right now, you have to sign up for an account on a centralized platform such as Cryptsy/BTC-E/Bter/etc, transfer coins to them and then pay them for transactions. This brings in a large concern: it’s possible that the exchange could just bail with everyone's deposits. This recently happened when the Sheep Marketplace did just that with 96,000 bitcoins. The developers of Nxt are developing a peer-peer exchange into the software to allow for decentralized trading which will eliminate this trust point. It will also eliminate trading fees! Obviously this is all still completely secure and anonymous as are current bitcoin transactions.

Or you can look at the video, 0:56:

http://www.youtube.com/watch?v=zALTChPsXhQ

[Mogly]

From Wiki:
To exchange cryptocoins right now, you have to sign up for an account on a centralized platform such as Cryptsy/BTC-E/Bter/etc, transfer coins to them and then pay them for transactions. This brings in a large concern: it’s possible that the exchange could just bail with everyone's deposits. This recently happened when the Sheep Marketplace did just that with 96,000 bitcoins. The developers of Nxt are developing a peer-peer exchange into the software to allow for decentralized trading which will eliminate this trust point. It will also eliminate trading fees! Obviously this is all still completely secure and anonymous as are current bitcoin transactions.

Or you can look at the video, 0:56:

http://www.youtube.com/watch?v=zALTChPsXhQ

Thank you, but, I still don't understand how they are going to achieve that   Something Ripple style with the gateways problem?

[pandaisftw]

Ok so basically the more NXT you have the better your chance of winning the right to author the next block right? Its sort of like a lottery and every unit of currency is a ticket, or an entry into that lottery. do i have that right?

more Nxt - sooner win. But gained amount is also different - rich people get more than poor users...

I'd say that is not true. Everyone gets the same chance based upon the amount of coins they own. It's a linear relationship.

[2Kool4Skewl]

Ok so basically the more NXT you have the better your chance of winning the right to author the next block right? Its sort of like a lottery and every unit of currency is a ticket, or an entry into that lottery. do i have that right?

more Nxt - sooner win. But gained amount is also different - rich people get more than poor users...

The more coins you have the more blocks you will generate, but the amount you get per block is dependent on the transaction fees included in the block.

[2Kool4Skewl]

Hi, can anyone explain to me how it's supossed to work the descentraliced exchange?

I believe it will work like this.  There will be gateways for different currencies (crypto or fiat).  You send your currency to this gateway.  The gateway then issues the asset on the Nxt network via colored coins.  That asset is then transferable on Nxt.  You can have many different issuers of the same currency.  All these currencies will then be able to be traded in a decentralized manner.  To redeem your currency, you send it back to the asset issuer and they send you the crypto or the fiat.

[2Kool4Skewl]

The Alias system allows you to use an alias instead of an account number to transfer funds, but is this same alias going to be used for decentralized web hosting?  If so, how is this going to work?

[opticalcarrier]

im doing the nextcoin giveaway, giving 10NXT to all who posted in the thread...  Thanks to all who donated to our board fund...

I have 13 pages of accounts begging NXT!  Is there ANY way to construct a transfer of 10NXT to a list of account numbers?

[Mistafreeze]

The alias stuff seems like it could really, really nifty 

[opticalcarrier]

Will we be given any advance notice of when the alias system will be implemented in a new client?  dont want to miss my choice of names..

[2Kool4Skewl]

Will we be given any advance notice of when the alias system will be implemented in a new client?  dont want to miss my choice of names..

I believe it's starting tomorrow, but I don't know what time.

[alrose]

 

[joefox]

I have completely re-organized and moved the Nxt Wiki to

http://nxtcrypto.wikia.com/wiki/

It was getting too big for one page (the FAQ is now a page on its own at http://nxtcrypto.wikia.com/wiki/FAQ) and the administrator for the old wiki has disappeared, making high-level changes (adding logos, menus, etc.) impossible.

This was a big change and I'm sorry for the new URL, but it had to be done!

The GOOD news is that the new structure allows me to start documenting details of the API, alias and colored coin features, etc., as information comes available.  The "single page" on the old wiki was getting far too large.

I'm quite happy with the new setup and my goal is for the wiki to be THE definitive source of Nxt information!

[dzarmush]

What happens if you buy an alias which has been bought by someone else before? The same as with regular transaction and 2 Nxt just return to your account after 24 hours?

[opticalcarrier]

I have completely re-organized and moved the Nxt Wiki to

http://nxtcrypto.wikia.com/wiki/

It was getting too big for one page (the FAQ is now a page on its own at http://nxtcrypto.wikia.com/wiki/FAQ) and the administrator for the old wiki has disappeared, making high-level changes (adding logos, menus, etc.) impossible.

This was a big change and I'm sorry for the new URL, but it had to be done!

The GOOD news is that the new structure allows me to start documenting details of the API, alias and colored coin features, etc., as information comes available.  The "single page" on the old wiki was getting far too large.

I'm quite happy with the new setup and my goal is for the wiki to be THE definitive source of Nxt information!

Awesome. i was gearing up to do exactly that. it was getting way too unwieldy. it looks like you have used content from my article, please note its been updated with transparent mining https://bitcointalk.org/index.php?topic=345773.msg3980304#msg3980304

Thanks again this was ssorely needed, hopefully someone will give you a bounty for that. ill get you a small one from the forums' fund

[OKNXT]

We brand "OKNXT" try to promote Nxt via different means, including video tutorial subtitle contribution, weibo post and any other way. http://weibo.com/oknxt

Here we go: Chinese subtitle added into the "how to generate Nxt password" video. Acknowdgement to the original video creator.
http://v.youku.com/v_show/id_XNjUwMjIxODc2.html

We are working more on the way.

[Come-from-Beyond]

Will we be given any advance notice of when the alias system will be implemented in a new client?  dont want to miss my choice of names..

I believe it's starting tomorrow, but I don't know what time.

Tomorrow we'll have a new version that supports Alias system, but ability to assign aliases will be auto-enabled only after, say, block 22000. U will have a few more days to study how to assign aliases via simple HTTP requests. Unfortunatelly, old client doesn't support aliases.

[Come-from-Beyond]

What happens if you buy an alias which has been bought by someone else before? The same as with regular transaction and 2 Nxt just return to your account after 24 hours?

Such a transaction won't be confirmed, thus its fee won't be charged.