NXT :: descendant of Bitcoin - Updated Information

[joefox]

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 for that!  Yes, I have an Evernote folder full of little tidbits (like that) that I need to update the wiki with, but I thought tonight would be about reorganizing (except for a couple of I-can-resist FAQ additions about the alias system) and tomorrow will be the time to get the content updated

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[abctc]

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

http://nxtcrypto.wikia.com/wiki/
...
I'm quite happy with the new setup and my goal is for the wiki to be THE definitive source of Nxt information!

- thank you for all your Wiki efforts !   have changed a link at the local Nxt thread.

[mcjavar]

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.

Ok, so if the issuer just disappers with your fiat, you can do nothing about it, right?

[laowai80]

Ok, so if the issuer just disappers with your fiat, you can do nothing about it, right?

Well, the centralized unregulated exchange (which is most of them right now) can always disappear too.

The difference is, when you have few centralized exchanges, they are easy to shut down.

When you have decentralized individuals, nobody can shut them down, except they can disappear on their own, just like centralized unregulated exchanges can do the same when they think they got enough and it's time to go to a beach but then I am sure there has to be some sort of reputation system in place, that allows to record feedback about a certain participant, like on ebay for example.

[pinarello]

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.

very smart move thank you

Pin

[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.

Ok, so if the issuer just disappers with your fiat, you can do nothing about it, right?

Correct

[2Kool4Skewl]

Come-from-Beyond, can you explain how the DNS system will work for Nxt websites?

[Come-from-Beyond]

Ok, so if the issuer just disappers with your fiat, you can do nothing about it, right?

Well, the centralized exchange can always disappear too.

The difference is, when you have few centralized exchanges, they are easy to shut down.

When you have decentralized individuals, nobody can shut them down, except they can disappear on their own, just like centralized unregulated exchanges can do the same when they think they got enough and it's time to go to a beach but then I am sure there has to be some sort of reputation system in place, that allows to record feedback about a certain participant, like on ebay for example.

Currency exchange is a little part of Nxt Asset Exchange. In the future this part will become obsolete (why do we need other currencies?)

[Come-from-Beyond]

Come-from-Beyond, can you explain how the DNS system will work for Nxt websites?

Scenario 1 (requires plugin):
1. User types an alias into a browser URL field.
2. Browser connects to Nxt nodes (private or public) and gets corresponding URI value to redirect the user to.

Scenario 2 (doesn't require plugin):
1. User loads a webpage.
2. JS-script scans the page and gets all nxt-links.
3. It sends a request to Nxt nodes and gets corresponding URI values to replace nxt-links with.

[laowai80]

Why do some nodes on the network have "NRS (?)" instead of the version number?

[Come-from-Beyond]

Why do some nodes on the network have "NRS (?)" instead of the version number?

Interface bug. We don't fix interface bugs coz r planning to get rid of the interface completely.

[wesleyh]

Come-from-Beyond, can you explain how the DNS system will work for Nxt websites?

Scenario 1 (requires plugin):
1. User types an alias into a browser URL field.
2. Browser connects to Nxt nodes (private or public) and gets corresponding URI value to redirect the user to.

Scenario 2 (doesn't require plugin):
1. User loads a webpage.
2. JS-script scans the page and gets all nxt-links.
3. It sends a request to Nxt nodes and gets corresponding URI values to replace nxt-links with.

Will these be special, trusted nodes? If not, how can we be sure they do not return fake results?

[2Kool4Skewl]

Come-from-Beyond, can you explain how the DNS system will work for Nxt websites?

Scenario 1 (requires plugin):
1. User types an alias into a browser URL field.
2. Browser connects to Nxt nodes (private or public) and gets corresponding URI value to redirect the user to.

Scenario 2 (doesn't require plugin):
1. User loads a webpage.
2. JS-script scans the page and gets all nxt-links.
3. It sends a request to Nxt nodes and gets corresponding URI values to replace nxt-links with.

Initially, we will be registering aliases to Nxt account numbers.  How will we then redirect our existing aliases to IPs?

[2Kool4Skewl]

Come-from-Beyond, can you explain how the DNS system will work for Nxt websites?

Scenario 1 (requires plugin):
1. User types an alias into a browser URL field.
2. Browser connects to Nxt nodes (private or public) and gets corresponding URI value to redirect the user to.

Scenario 2 (doesn't require plugin):
1. User loads a webpage.
2. JS-script scans the page and gets all nxt-links.
3. It sends a request to Nxt nodes and gets corresponding URI values to replace nxt-links with.

Will these be special, trusted nodes? If not, how can we be sure they do not return fake results?

I believe the link will be stored in the block chain.

[landomata]

Ok, so if the issuer just disappers with your fiat, you can do nothing about it, right?

Well, the centralized unregulated exchange (which is most of them right now) can always disappear too.

The difference is, when you have few centralized exchanges, they are easy to shut down.

When you have decentralized individuals, nobody can shut them down, except they can disappear on their own, just like centralized unregulated exchanges can do the same when they think they got enough and it's time to go to a beach but then I am sure there has to be some sort of reputation system in place, that allows to record feedback about a certain participant, like on ebay for example.

Those with higher reputation can charge higher fees....this way there will be an incentive to not cheat....if you are trusted them you charge more for your service.

or there can be a time factor included....as a specific node cannot withdraw funds for a certain amount of time or till the transaction is complete....can this be coded in??

[Come-from-Beyond]

Will these be special, trusted nodes? If not, how can we be sure they do not return fake results?

These will be hallmarked nodes. Later data returned by such nodes will be signed with their account public keys. It's very easy to validate the returned data and penalize incorrectly responding nodes.

[Come-from-Beyond]

Are we supposed to see our IP in the Active Peers list or just other peers? Also, what will it show if one is behind a VPN?

...I have it running a while now, but never bothered to ask...  thnx   

Sorry, I don't get ur question. Is it about requests to Alias System?

[abctc]

... planning to get rid of the interface completely.

- very sad.

The browser (https) access and the absence of stand-alone client is the most distinguishing (and attractive) feature of Nxt.

The browser access successfully works on smartphones right now.

Hope BCNext will change his mind regarding browser client.

[Come-from-Beyond]

Initially, we will be registering aliases to Nxt account numbers.  How will we then redirect our existing aliases to IPs?

We will be registering aliases to anything.

[Come-from-Beyond]

can this be coded in??

Yes.