NXT :: descendant of Bitcoin - Updated Information

[ImmortAlex]

But how does my super long password become stronger with a public key? I can only think it has to do with the blockchain and the information it contains. So is this assumption correct? When was this implemented, and when was it made a necessity to have a public key as this seems to be only after new year I read about this.

I think it was wrote a lot of times, but I write it again

You password is private key. It is used to generate public key. Then public key is used to generate hash. Then part of the hash became your account ID.

Until you get any transaction, there's no account in blockchain. You can "unlock" any number of accounts in client software - it doesn't mean anything for network.
So when you get at least one transaction, blockchain store you account ID.
But until you send any transaction, it is only account ID, and nothing else.
When you send transaction, it is signed with your private key. At the same time public key is send, so other nodes can verify this signature, and verify that you send coins from your own account.
So when you send at least one transaction, blockchain store you account's public key.

It is by design, and the same scheme is in BTC too for years, except that BTC account ID is 160 bit length, while Nxt uses only 64 bit now.

When some thief want to steal your money, he need to find your private key.
When you have sent transaction, thief need to generate private key that match you known public key. It is almost impossible.
When you have no transactions out, thief need to generate private key that match only account ID. It's hard now, but will be possible in some years.

Btw, in Nxt you need not to send coins to make public key available in blockchain. Simplest and cheapest way is to create some alias with 1 NXT fee. Or if you have some amounts of coins just wait until you account forge one block, even empty one.

[grex]

I have a question related to forging:
After unlocking my account, when I reload the NRS browser tab, my account is closed again.
When I unlock the account now, does the time till I can forge a block stay the same or will I be ranked back in the queue?

[wesleyh]

ok. so why wasn't every account active given a public key rather than having to make a transaction.  

https://bitcointalk.org/index.php?topic=345619.msg4352067#msg4352067

One could loose his key 3 months later and you'd be none the wiser though, this is no guarantee.

[gradis]

ok. so why wasn't every account active given a public key rather than having to make a transaction.  

https://bitcointalk.org/index.php?topic=345619.msg4352067#msg4352067

yeah appreciate your time to answer but il ask a question as simply as I can in the hope I can get a answer as simple


1 at start long password needed.

2 very long password needed 70+

3 as above with public key - as accounts with out public key seem to be called darknxt and have a 64 compared to 256 thingy. ok why?

that's it. my question from start

But how does my super long password become stronger with a public key? I can only think it has to do with the blockchain and the information it contains. So is this assumption correct? When was this implemented, and when was it made a necessity to have a public key as this seems to be only after new year I read about this.

I think it was wrote a lot of times, but I write it again

You password is private key. It is used to generate public key. Then public key is used to generate hash. Then part of the hash became your account ID.

Until you get any transaction, there's no account in blockchain. You can "unlock" any number of accounts in client software - it doesn't mean anything for network.
So when you get at least one transaction, blockchain store you account ID.
But until you send any transaction, it is only account ID, and nothing else.
When you send transaction, it is signed with your private key. At the same time public key is send, so other nodes can verify this signature, and verify that you send coins from your own account.
So when you send at least one transaction, blockchain store you account's public key.

It is by design, and the same scheme is in BTC too for years, except that BTC account ID is 160 bit length, while Nxt uses only 64 bit now.

When some thief want to steal your money, he need to find your private key.
When you have sent transaction, thief need to generate private key that match you known public key. It is almost impossible.
When you have no transactions out, thief need to generate private key that match only account ID. It's hard now, but will be possible in some years.

Btw, in Nxt you need not to send coins to make public key available in blockchain. Simplest and cheapest way is to create some alias with 1 NXT fee. Or if you have some amounts of coins just wait until you account forge one block, even empty one.

thank you mate I can read that and go ok. I kind of get it but yeah I see what it means. cheers

actually why don't accounts that get sent nxt have this?

[halkah]

I withdrew Nxt from Dgex.com over a week ago and I have still not recieved it in my wallet. When I mailed dgex they told me that the Nxt were sent within 24hours..
Why are they not showing up in my wallet? Or is dgex lying?

whats ur account No...we can check in blockchain.

you can check it on
http://87.230.14.1/nxt/nxt.cgi?action=100

I checked it now on the blockchain and it checks out, I got the Nxt. So my follow up question would be, why the heck cant I see it. 
I start up the start.bat, open the website, login with password and I can see no Nxt. What have I done wrong?

[intel]

BTC deposits are temporary closed, seems like there is a bit of a problem with blockchain.info.

I told you it's not reliable to use 3rd party processings, especially if you are crypto exchange. Now the moneyflow is corrupted and it affects the market instantly.

[landomata]

@ CfB....any news on Nxt Asset Exchange Tag registration....Alias numbers seem to be getting tight  

[lophie]

First question, Have you considered demmurage for nxt? if so why did you decide not to?

 

pls clarify demurrage?

Please use google first, 2nd result entry.

http://en.wikipedia.org/wiki/Demurrage_%28currency%29

[landomata]

Please use google first, 2nd result entry.

http://en.wikipedia.org/wiki/Demurrage_%28currency%29

Clear now

[EmoneyRu]

777 page celebration?

[Come-from-Beyond]

@ CfB....any news on Nxt Asset Exchange Tag registration....Alias numbers seem to be getting tight  

We r waiting for nexern's client.

[bitcoinpaul]

[wesleyh]

@ CfB....any news on Nxt Asset Exchange Tag registration....Alias numbers seem to be getting tight  

We r waiting for nexern's client.

1) Is it on track? I heard something about march?..
2) Is it open source?
3) Is there a beta?
4) Why no community effort, code on github, let others help? (if open source)

5) Are there api's already for asset exchange? If so, would it not be easy to make a simple HTML client? (I would be willing to make this ad interim if nexern's client is still months away)

[NxtChg]

I told you it's not reliable to use 3rd party processings, especially if you are crypto exchange. Now the moneyflow is corrupted and it affects the market instantly.

Nah, it's not that bad. But I am renting a second server today anyway. I will put first NXT, then BTC nodes there and ditch the blockchain.info.

So, automated NXT deposits come real soon
And faster BTC deposits a bit later.

[S3MKi]

I withdrew Nxt from Dgex.com over a week ago and I have still not recieved it in my wallet. When I mailed dgex they told me that the Nxt were sent within 24hours..
Why are they not showing up in my wallet? Or is dgex lying?

it is normal. High fees and fucking slow withdraw  speed.. We must have normal exchange!!!

[Come-from-Beyond]

5) Are there api's already for asset exchange? If so, would it not be easy to make a simple HTML client? (I would be willing to make this ad interim if nexern's client is still months away)

API is ready. To make an HTML client we need JS library for signing/verification (look at that bounty).

[wesleyh]

5) Are there api's already for asset exchange? If so, would it not be easy to make a simple HTML client? (I would be willing to make this ad interim if nexern's client is still months away)

API is ready. To make an HTML client we need JS library for signing/verification (look at that bounty).

Problem is no known javascript library exists that implements curve5xx verification. Only signing. To make that from scratch is out of my league ;-)

[Come-from-Beyond]

5) Are there api's already for asset exchange? If so, would it not be easy to make a simple HTML client? (I would be willing to make this ad interim if nexern's client is still months away)

API is ready. To make an HTML client we need JS library for signing/verification (look at that bounty).

Problem is no known javascript library exists that implements curve5xx verification. Only signing. To make that from scratch is out of my league ;-)

Curve25519 is not enough. We need JS-implementation of EC-KCDSA based on Curve25519...

[wesleyh]

History of the initial founder accounts:

2013-11-24: 1,000,000,000
2013-12-01: 622,209,864
2013-12-08: 406,016,313
2013-12-15: 305,742,843
2013-12-22: 265,220,001
2013-12-29: 248,241,416
2014-01-05: 148,913,050
2014-01-06: 139,681,005

[marcus03]

API is ready. To make an HTML client we need JS library for signing/verification (look at that bounty).

But API is not in 5.0, right? How would I test asset exchange features when implementing it in my client?