NXT :: descendant of Bitcoin - Updated Information

[Come-from-Beyond]

Could we feasably get 200Ktps with full TF using JSON transport?  Or will full TF just absolutely REQUIRE binary transport, regardless of the desired performance?

We could switch to 200 tps rate but it's not that cool as switching to 1'000 tps, is it?

[1714860000]

1714860000

[Come-from-Beyond]

Would that be json related?

No. It's legacy of NRS web interface.

[ThePatient]

I'm new to NXT (as you can tell from my prior posts)....NXT is written in Java? Is it going to get re-written in C++ (if thats even possible)?

[bithic]

Looks like jl777 is looking for some skilled developers to join his effort. His plan has merit. Watching with interest!

Me too.

It's interesting to see what possible use one can get out of an old system, which is completely different, has limitations that make it impractical, will be completely rewritten from scratch by the zerocoin guys and implemented as a stand-alone altcoin instead of a Bitcoin integration. I also have no idea what this imaginary "zerocoin API" is that he keeps talking about.

So I think he, indeed, needs some skilled developers to explain to him why this might not be such a good idea...

Meanwhile, if anyone interested in Zerocash (i.e. Zerocoin 2.0) and its possible integration with NXT, follow http://wiki.nxtcrypto.org/wiki/NxtCash - I will keep updating it as we go.

Watching NxtChg with interest too. 

[Come-from-Beyond]

If this is true then we better stop telling people they can forge on their smartphones now, rather than later. Some promotional material may need to be changed to reflect a realistic cost of forging on a high TPS network.

It's possible to forge on smartphones even with 1000 tps. U confuse numbers I think.

[jl777]

Count me in.  

I've been thinking about this whole 1000 TPS thing and have a basic question.  If ANYBODY can be the node that generates a block, but a node with a low rate data link can't support 1000TPS, then are we saying that the NXT TPS chain is only as strong / fast as its weakest link?  

I am guessing any node that can't keep up will automatically become blacklisted and they fall forever behind. Such low bandwidth nodes will need to run slim clients. Not sure how they will be able to send NXT

James

So we start by telling people they can forge NXT based on their stake, then blacklist them forever if they can't meet a certain level of performance?

If this is true then we better stop telling people they can forge on their smartphones now, rather than later. Some promotional material may need to be changed to reflect a realistic cost of forging on a high TPS network.

It is more a matter of bandwidth than processing, though at 1000TPS CPU power would probably be an issue. A smartphone with wifi that is fast enough might be able to keep up. Not sure though, at some point we probably need to get benchmarks on a variety of configurations.
As time goes on, everything gets faster and faster so maybe at first only high end smartphones can handle a sustained 1000TPS network, but later more and more can.
Unlike with BTC, as time goes on, more and more hardware can keep up

[Come-from-Beyond]

I'm new to NXT (as you can tell from my prior posts)....NXT is written in Java? Is it going to get re-written in C++ (if thats even possible)?

It's already rewritten in C#. Someone could rewrite it in C++, Delphi, JavaScript.

[Come-from-Beyond]

As time goes on, everything gets faster and faster so maybe at first only high end smartphones can handle a sustained 1000TPS network, but later more and more can.

One of my old smartphones had constant 15 Mbps connection. I would be able to forge with 10'000 tps rate. U guys should stop and look at ur numbers again. U think they r big, but actually they r not.

[jl777]

As time goes on, everything gets faster and faster so maybe at first only high end smartphones can handle a sustained 1000TPS network, but later more and more can.

One of my old smartphones had constant 15 Mbps connection. I would be able to forge with 10'000 tps rate. U guys should stop and look at ur numbers again. U think they r big, but actually they r not.

You are in modern world, not everyone is from tech advanced country

[Come-from-Beyond]

You are in modern world, not everyone is from tech advanced country

Do smartphones that can't have 1 Mbps link exist?

[landomata]

As time goes on, everything gets faster and faster so maybe at first only high end smartphones can handle a sustained 1000TPS network, but later more and more can.

One of my old smartphones had constant 15 Mbps connection. I would be able to forge with 10'000 tps rate. U guys should stop and look at ur numbers again. U think they r big, but actually they r not.

 

The future is bright people

Edit....im waiting for the day when I can forge and buy stuff with my smartwatch & smartglass.

[opticalcarrier]

As time goes on, everything gets faster and faster so maybe at first only high end smartphones can handle a sustained 1000TPS network, but later more and more can.

One of my old smartphones had constant 15 Mbps connection. I would be able to forge with 10'000 tps rate. U guys should stop and look at ur numbers again. U think they r big, but actually they r not.

Were not just discussing network utilization now, but also cpu processor.  Will smarphoes, raspis, etc be able to process that much load at 1Mtps, assumimg it had access to the required network bandwidth?

[bithic]

emunie and etherium update:

Very active times in the next gen crypto space. I know laws aren't supposed to apply in crytoland, but crypto is getting big enough that it is overlapping the real world

Rumours of the incorporation of emunie seem to be fully confirmed. They are a UK company now, subject to all the laws of her Majesty. Probably a very wise move, considering all the potential liability a large scale IPO with uncertain results could incur. By incorporating, Dan has the ability to create golden parachutes, large salaries, dividends, etc.  Even long time fanboys of emunie are upset. Not sure of percentage ownership, but my guess is vast majority is owned by Dan. Shrewd financial operator, with dubious ability to predict crypto markets as evidenced by BCNext's hat.

This move to being fully incorporated makes emunie into Ripple 2.0! Since emunie won't have fiat gateways or external exchanges, the big impact will be in ease of use and raising the bar as to what people expect. I urge all client developers to study the emunie beta (if you can download it) to make sure we are doing all we can in the usability side. From what I have heard emunie has an excellent GUI and we can't ignore any excellence regardless of where it is.

If anybody knows of any actual functionality that NXT (of 2 months from now) lacks in comparison to emunie, please let me know so I can make sure we fill the gap.

On the etherium side, they actually listened to negative feedback on their IPO structure and pulled the IPO. Not sure if what they come back with will be simpler or more complicated, but they announced a testnet release. If anybody has any actual experience with their testnet please post what relevant things etherium has or could have.

We now have the funds to proactively outdo ALL the competition. As the leading second gen crypto, as long as we defend against competitors, we win. Oh, TF and 1000TPS makes us win too, but I just want to win even without that. Better to win by 1000 kilometers than by just a kilometer.

James

Good idea.

Also, it's been a while since I've checked in with eMunie, but I believe the claim is it will be able to handle credit card transaction volumes at very high speeds. We may have stiff competition on this front.

[Come-from-Beyond]

Were not just discussing network utilization now, but also cpu processor.  Will smarphoes, raspis, etc be able to process that much load at 1Mtps, assumimg it had access to the required network bandwidth?

BCNext got rid of Bitcoin's scripts on purpose. This greatly lowered requirements to processing power.

[landomata]

Were not just discussing network utilization now, but also cpu processor.  Will smarphoes, raspis, etc be able to process that much load at 1Mtps, assumimg it had access to the required network bandwidth?

at the rate smartphones are progressing....cpu processing speeds will double in less than 24 months + 4G/Nxt gen ethernet(Google Fiber) ....to the moon!

[opticalcarrier]

Could we feasably get 200Ktps with full TF using JSON transport?  Or will full TF just absolutely REQUIRE binary transport, regardless of the desired performance?

We could switch to 200 tps rate but it's not that cool as switching to 1'000 tps, is it?

Heck no!  Ok so whats keeping us from switching to binary transport now, i assume there will be a phase with client releases supporting either then eventally a client that only does binary?

[jl777]

You are in modern world, not everyone is from tech advanced country

Do smartphones that can't have 1 Mbps link exist?

bandwidth is sometimes hard to get that fast

[pinarello]

AM contest vote!

https://bitcointalk.org/index.php?topic=444081.0

[Come-from-Beyond]

Ok so whats keeping us from switching to binary transport now, i assume there will be a phase with client releases supporting either then eventally a client that only does binary?

JSON loweres entry barrier for new core protocol coders.

[jl777]

emunie and etherium update:

Very active times in the next gen crypto space. I know laws aren't supposed to apply in crytoland, but crypto is getting big enough that it is overlapping the real world

Rumours of the incorporation of emunie seem to be fully confirmed. They are a UK company now, subject to all the laws of her Majesty. Probably a very wise move, considering all the potential liability a large scale IPO with uncertain results could incur. By incorporating, Dan has the ability to create golden parachutes, large salaries, dividends, etc.  Even long time fanboys of emunie are upset. Not sure of percentage ownership, but my guess is vast majority is owned by Dan. Shrewd financial operator, with dubious ability to predict crypto markets as evidenced by BCNext's hat.

This move to being fully incorporated makes emunie into Ripple 2.0! Since emunie won't have fiat gateways or external exchanges, the big impact will be in ease of use and raising the bar as to what people expect. I urge all client developers to study the emunie beta (if you can download it) to make sure we are doing all we can in the usability side. From what I have heard emunie has an excellent GUI and we can't ignore any excellence regardless of where it is.

If anybody knows of any actual functionality that NXT (of 2 months from now) lacks in comparison to emunie, please let me know so I can make sure we fill the gap.

On the etherium side, they actually listened to negative feedback on their IPO structure and pulled the IPO. Not sure if what they come back with will be simpler or more complicated, but they announced a testnet release. If anybody has any actual experience with their testnet please post what relevant things etherium has or could have.

We now have the funds to proactively outdo ALL the competition. As the leading second gen crypto, as long as we defend against competitors, we win. Oh, TF and 1000TPS makes us win too, but I just want to win even without that. Better to win by 1000 kilometers than by just a kilometer.

James

Good idea.

Also, it's been a while since I've checked in with eMunie, but I believe the claim is it will be able to handle credit card transaction volumes at very high speeds. We may have stiff competition on this front.

I guess there is some small chance emunie's price controls doesn't create a downward spike and implodes, at least for a few months. Best to make NXT as strong as possible in all areas.