NXT :: descendant of Bitcoin - Updated Information

[bitcoinpaul]

I'm in Brooklyn..

 

[mczarnek]

What this guy recently learned is wrong; Nxt is not Turing-complete.  Nxt AT is planned to be Turing-complete, but it is a layer on top of Nxt.

Nxt AT?

[mcjavar]

I´ll be in NY next week. Anyone want to meet for a coffee?

where are you going to be staying or working?

I'm in Brooklyn..

We will stay between 22-28.03 and will staxy in the Marriott Courtyard. (37th Street)

[Damelon]

I'm in Brooklyn..

 

NO! 

[IveBeenBit]

Yes, but the problem there is conflict of interest as it is owned by a business.
Other exchanges can not post there freely as they would be posting on a competitors forum.

We're working on a solution already
Give it a few days  

I am glad to hear that. Back in the day, I started posting on there, until they censored the thread about trading on Peercover. But the only alternative -- at nxtcrypto.org has an admin that disappeared months ago.

I will start a thread on nextcoin.org and if the new forums come online, will try to move discussion there.

[msin]

Now, this is normally the time of the day when I produce a sensible, reasoned summary of the main topics from the last 20 pages or so, with my well-balanced thoughts and comments about the current developments in NXTworld.........but, fuck it:


NXT 2 DA MOOOOONNNN!!!!!!


Nice work, everyone.

On a serious note, I'm expecting a full summary as I rely on them for toilet reading.

[joefox]

What this guy recently learned is wrong; Nxt is not Turing-complete.  Nxt AT is planned to be Turing-complete, but it is a layer on top of Nxt.

Nxt AT?

AT = "Automated Transactions".  It would essentially be the Nxt equivalent of Ethereum.

CIYAM is discussing this over on his forum, and would probably love more input.  It's being discussed here and the CIYAM Open Project work can be found here.

[bitcoinpaul]

It's planned to be implemented as an integral part of the core.

But not equivalent, afaik.

[Daedelus]

What this guy recently learned is wrong; Nxt is not Turing-complete.  Nxt AT is planned to be Turing-complete, but it is a layer on top of Nxt.

Nxt AT?

Automated Transactions I *think*. CIYAM is developing them as it will allow dividends to be paid, he has an interest bearing bond in mind that will be popular IIRC.

Edit: darn it Joe, too quick!

[msin]

People, how it is possible to trade in AE not with NXT?

This is a discussion about semantics.

At the HEART, you CAN'T.  But:

- Litecoin can trade on AE via Nxt
- Bitcoin can trade on AE via Nxt
- therefore a service can calculate the cost of Litecoin in Bitcoin and trade them against one another. Nxt is invisible.

Think more like a chess player

Of course someone could build something on top of Nxt/AE and people would shout "OMG you can buy unicorn assets with gobbleschmoggles". But that would involve another entity on top of Nxt AE. Please don't confuse people with a semantic discussion

Let's get this straight for everyone: Trading assets on AE runs only with NXT.

edit: moon.

Exactly, regardless of how much is built on top of Nxt (which I hope a lot) Nxt will still be the gold standard, backing everything.  

[joefox]

Re-posting my Public Service Announcement:
(... because I haven't posted it in almost 500 pages of posts here...)

If you are new to Nxt and don't want to read through 2420 pages of posts, come to the wiki, parts of which are now available in nineteen languages:
- Learn about Nxt
- Get started
- get basic questions answered in the FAQ and common problems pages
- Learn how to set up a public node on a VPS
- read up on the Nxt high-level API, which you can use to build apps, games, clients, utilities, and more
- find additional resources for programmers, including suggested methods for integrating Nxt with your sites, API documentation, software change logs, a PHP library, and more.
- check out the current draft version of the Nxt whitepaper, which is being built and refined by top community contributors (it's still rough, but there's lots of great content already)

There are also great forums with lots of info and support for beginners. Many of the best Nxt wiki articles are based on information originally contributed here:
- The nxtcrypto.org forum
- The nextcoin.org forum

... and don't forget our other Nxt sites (and these are just the English ones):
- Summaries of this thread
- http://www.nxtclients.org
- http://www.nxtcrypto.org
- http://mynxt.org
- http://nxtarea.com/

Wiki contributors help to pull information from these threads every day to keep the wiki up to date. You can help too!! contribute, or translate.

[msin]

Yes, but the problem there is conflict of interest as it is owned by a business.
Other exchanges can not post there freely as they would be posting on a competitors forum.

We're working on a solution already
Give it a few days  

I am glad to hear that. Back in the day, I started posting on there, until they censored the thread about trading on Peercover. But the only alternative -- at nxtcrypto.org has an admin that disappeared months ago.

I will start a thread on nextcoin.org and if the new forums come online, will try to move discussion there.

I like using Damelon's summary thread site, it points to several smaller specific Nxt threads.  http://www.nxtcoins.nl/bitcointalk-threads/

[Damelon]

Re-posting my Public Service Announcement:
(... because I haven't posted it in almost 500 pages of posts here...)

If you are new to Nxt and don't want to read through 2420 pages of posts, come to the wiki, parts of which are now available in nineteen languages:
- Learn about Nxt
- Get started
- get basic questions answered in the FAQ and common problems pages
- Learn how to set up a public node on a VPS
- read up on the Nxt high-level API, which you can use to build apps, games, clients, utilities, and more
- find additional resources for programmers, including suggested methods for integrating Nxt with your sites, API documentation, software change logs, a PHP library, and more.
- check out the current draft version of the Nxt whitepaper, which is being built and refined by top community contributors (it's still rough, but there's lots of great content already)

There are also great forums with lots of info and support for beginners. Many of the best Nxt wiki articles are based on information originally contributed here:
- The nxtcrypto.org forum
- The nextcoin.org forum

... and don't forget our Nxt sites (and these are just the English ones):
- http://www.nxtcrypto.org
- http://mynxt.org
- http://nxtarea.com/

Wiki contributors help to pull information from these threads every day to keep the wiki up to date. You can help too!! contribute, or translate.

I've missed these!
Welcome back!

[L5Society]

Is there a difference between CCT and Atomic CCT?

Sorry, I'm too dumb to answer confidently.

[IveBeenBit]

I started a discussion for those interested in keeping up with the asset exchange here: https://nextcoin.org/index.php/topic,4479.0.html

Come on over and join the discussion if this interests you!

Hopefully we can get Wesley to follow and participate in the thread.

[Sebastien256]

I started a discussion for those interested in keeping up with the asset exchange here: https://nextcoin.org/index.php/topic,4479.0.html

Come on over and join the discussion if this interests you!

Hopefully we can get Wesley to follow and participate in the thread.

there is also this thread that concern AE: https://bitcointalk.org/index.php?topic=460343.0

Important threads can be also be found there: http://www.nxtcoins.nl/bitcointalk-threads/

[msin]

Is there a difference between CCT and Atomic CCT?

Sorry, I'm too dumb to answer confidently.

When we refer to CCT for Nxt, we are always referring to Atomic CCT

CCT:
Simply if we decide to trade Bitcoin for Litecoin and I send you BTC and you send me LTC.  You can chose not to send me LTC after you receive BTC, so I get scammed.

Atomic CCT (utilizes and alt chain):
1. Bob create and sign the transaction as usual and compute its txid. He sends txid and the transaction body with input scripts/signature blanked to Alice.
2. Alice computes hash of the blanked body, call it blankhash, and constructs transaction with special bitcointxid (blankhash,txid) opcode. Broadcasts the transaction to altchain.
3. Bob waits for altchain tx to confirm and verify its outputs are as previously agreed - at that point he sends the "uncensored" Bitcoin tx to Alice who'll broadcast it. Alice is therefore credited the bitcoin funds, which in turn validate altchain transaction at the same time (this is the atomic point).
4. Note that bob releases his tx only if he is sufficiently confident the altchain will not reorg its transactions, thus possibly double spend. This might imply that *many* confirmations in altchain should come first, however during that time each of them might decide to cancel the trade with no further consequences.

[Daedelus]

Is there a difference between CCT and Atomic CCT?

Sorry, I'm too dumb to answer confidently.

When we refer to CCT for Nxt, we are always referring to Atomic CCT

CCT:
Simply if we decide to trade Bitcoin for Litecoin and I send you BTC and you send me LTC.  You can chose not to send me LTC after you receive BTC, so I get scammed.

Atomic CCT:
1. Bob create and sign the transaction as usual and compute its txid. He sends txid and the transaction body with input scripts/signature blanked to Alice.
2. Alice computes hash of the blanked body, call it blankhash, and constructs transaction with special bitcointxid (blankhash,txid) opcode. Broadcasts the transaction to altchain.
3. Bob waits for altchain tx to confirm and verify its outputs are as previously agreed - at that point he sends the "uncensored" Bitcoin tx to Alice who'll broadcast it. Alice is therefore credited the bitcoin funds, which in turn validate altchain transaction at the same time (this is the atomic point).
4. Note that bob releases his tx only if he is sufficiently confident the altchain will not reorg its transactions, thus possibly double spend. This might imply that *many* confirmations in altchain should come first, however during that time each of them might decide to cancel the trade with no further consequences.

For CCT above, this can be done on a trading thread. I was under the impression that CCT was a bridge between otherwise incompatible blockchains.i.e a nxt transaction is sent > *magic happens* > transaction appears on bitcoin chain? So all chains could eventually 'talk' to each other. Sounds like this is actually atomic CCT.

Atomic CCT are basically trustless escrows?

Edit: I was being rushed to complete this post. I will reply again once I've had time to compose my thoughts better.

[S3MKi]

When we will see nexern client?

[salsacz]

Some news from Ethereum marketing

http://youtu.be/wMBtKMZYdN8 Ethereum: Your turn