NXT :: descendant of Bitcoin - Updated Information

[FrictionlessCoin]

Announcing:  NEX

Visit the website at:  http://www.nexcoin.net  

Earn a stake in NEX by leaving you email and by referring more friends!

Thank you!

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[NxtChg]

Is BCNext saying he's figured out how to PRUNE THE BLOCKCHAIN TO USER BALANCE INFO ONLY...IN REAL TIME?

Why not? The difference between us and Bitcoin is that we don't actually have coins, only balances.

So exactly how much transactions you want to retain and how much to archive is somewhat arbitrary, you can do it monthly.

Also the 1000 TPS level is so sky high, we shouldn't even worry about it yet. Bitcoin is 4 years old and still works with its 7 TPS.

[Passion_ltc]

Can someone say to me what AM features minusbalancers client has? I can't find it.. And I don't want to install it, I like the webclient.

Encrypted and not encrypted messaging is accessible from the Account screen. It allows to send the Encrypted and Non-Encrypted messages. Encryption is performed transparently - no need to enter any pass codes or initialization vectors. I think it was stated in my contest entry. Should make some screenshots next time.

Which encryption algo is used?

Curve for the shared key, AES for the message encryption.
PS: This is publicly available info since the source is published.

Interesting. Thank you very much.

I don't have the time to follow everything. To much on my head.

[xyzzyx]

Uhm, what's the point of quoting papers from the 90's?

It's when all the *cool stuff happened*.  

1.  For portability of representation of constants between architectures.
2.  Low working memory requirements.
3.  Fast to encode and decode.
4.  Simple to implement.
5.  The code for the encoding and decoding of integers is very small -- only a hand-full of bytes.

I still believe this is a case of extremely premature optimizations, but would answer anyway:

1. Endianness is trivial to deal with.
2. That is irrelevant to fixed/variable encoding.
3. Not doing it is even faster.
4. Not implementing it is even simpler.
5. The code for not doing it is exactly zero bytes.

I don't see it as an optimization, but an element in a data exchange format that we should consider if we want to support signing transactions on everything from a tiny 8051 based smart card to a huge rack-mount server and everything in-between.  The nice thing about this scheme is that, while endianness may be "trivial to deal with," we don't have to deal with it at all.

[ChuckOne]

Uhm, what's the point of quoting papers from the 90's?

It's when all the *cool stuff happened*.  

I totally agree.

[VanBreuk]

For now, riddle me this, Batman.  Say we do get 1000 TPS using binary instead of JSON on a 1 Megabit per second line (and everybody who used to forge NXT a smartphone or Raspberry are pissed cause they've been cut out of the picture as slowpoke slackers).  That implies each transaction is now 128 bytes so the NXT blockchain is growing at a minimum of a megabyte every 8 seconds.  This is a gigabyte every 8000 seconds or roughly every  2 hours 15 minutes.   That's a NXT blockchain that is growing 10 gigabytes PER DAY.  The Bitcoin blockchain is currenly called "bloated" and "hard to manage" at 16 gigabytes after FIVE YEARS.

So...what's the secret sauce to deal with NXT blockchain bloat of 10GB per day?  I've read that our mini-blockchain can be "pruned" altho I believe I've seen that's to be a future capability.  I also seem to recall that "pruning" would only need to be done annually.  I ALSO seem to recall (I'm doing a lot of recalling) that the whole pruning concept was to get rid of historical transaction data.  The pruning was to reset the blockchain in a cryptographically verifiable manner and say that "everybody's balances are now so-and-so at such-and-such a timestamp" and dump from the blockchain all of the historical transactions supporting that conclusion.  

1000TPS for NXT requires something bordering on Harry Potter level magic.  Is BCNext saying he's figured out how to PRUNE THE BLOCKCHAIN TO USER BALANCE INFO ONLY...IN REAL TIME?

+1

I would also like to see some elaboration about this. I have to sweep it under the carpet when I go to bed at night, and I'd like to know what I'm missing, unless it's up someone's sleeve for a very good reason, and even so...

[rickyjames]

One final note.  For the record, I am placing a backup copy of the password to the NXTcommunityfund into a stamped postal envelope addressed to James, and placing this envelope in my bank safe deposit box.  Just in case.  Because you never know...

You better be paying attention folks... there is more education in that statement than most of us got in school University!!!    

It is said that humans are the only animal aware of their own mortality.  Most aren't.

[ChuckOne]

Total Voters:  230  

Are we sure this thing is reliable?..

Nope. A lot of cheating, in last 15 minutes about 100+ votes!!:|

It's about time to have this voting system up and running.

[Coinonaer]

can we at least come to consensus on this: use some of the fund to extend or reinstate cfb's contract if he agrees. + this if you agree


@CFB are you open to this?

...great idea. Also use some founds for CFB to finish Lakshmi [LAK]

[Damelon]

quest for Dutch people:
https://twitter.com/TheWhoNL/status/430025559209701377

Who is  Ron van Raften  and where did he support us as a long therm?

Bullshit message and troll.
As far as I can see Ron van Raften is some kind of shady therapist.
Probably an inside joke.

Kids, eh?

[jl777]

Anybody running a NXT exchange interested in becoming the FIRST exchange for XCP?
Currently XCP is in the same situation NXT was right after genesis, they need an exchange XCP/BTC and XCP/NXT

[rickyjames]

Speaking of upcoming conference in Austin, since I live here I can order t-shirts for attendants and meet them before the conference. Do we have a list of people who are going to Austin so I can contact them to have their sizes? I can also print other stuff like business cards, flyers etc.

I want to get both business cards and flyers printed for Austin but I wanted to see what got made for Berlin first.  I am really interested in a black NXT T shirt but if I'm speaking I may wear something a little more formal.  I have posted my hotel and flight info in previous posts and would love to have a meet up with you and anybody else that comes on Tues night before the conference.  

[Isildur23]

can we at least come to consensus on this: use some of the fund to extend or reinstate cfb's contract if he agrees. + this if you agree


@CFB are you open to this?

+1!

[NxtChg]

It's Sunday, so I am entitled to one funny picture:

[nexern]

Uhm, what's the point of quoting papers from the 90's?

It's when all the *cool stuff happened*.  

I totally agree.

and me too 

[Eadeqa]

Announcing:  NEX

Visit the website at:  http://www.nexcoin.net 

Thank you!

Funny nowhere on the site I saw you mentioned Nxt whose source code you will use to launch your version.

Thar says a lot about your credibility.

[xyzzyx]

can we at least come to consensus on this: use some of the fund to extend or reinstate cfb's contract if he agrees. + this if you agree


@CFB are you open to this?

...great idea. Also use some founds for CFB to finish Lakshmi [LAK]

http://www.youtube.com/watch?v=SYgWHwMm9Uo#t=0m40s

[EvilDave]

Speaking of upcoming conference in Austin, since I live here I can order t-shirts for attendants and meet them before the conference. Do we have a list of people who are going to Austin so I can contact them to have their sizes? I can also print other stuff like business cards, flyers etc.

I want to get both business cards and flyers printed for Austin but I wanted to see what got made for Berlin first.  I am really interested in a black NXT T shirt but if I'm speaking I may wear something a little more formal.  I have posted my hotel and flight info in previous posts and would love to have a meet up with you and anybody else that comes on Tues night before the conference.  

I believe that admiral.fu was sorting out the t-shirts for Berlin.

[EvilDave]

Announcing:  NEX

Visit the website at:  http://www.nexcoin.net 

Thank you!

Funny nowhere on the site I saw you mentioned Nxt whose source code you will use to launch your version.

Thar says a lot about your credibility.

Dude, FC is so yesterday, lets get some work done, maybe we can bait him a bit later....

[opticalcarrier]

Anybody running a NXT exchange interested in becoming the FIRST exchange for XCP?
Currently XCP is in the same situation NXT was right after genesis, they need an exchange XCP/BTC and XCP/NXT

wow this is really good news...  i hope someone steps up BEFORE they get listed on a BTC/LTC exchange