NXT :: descendant of Bitcoin - Updated Information

[mcjavar]

Guys... one question that is bugging me: has anyone checked the legal status of issuing these assets?

Given what's happened to btct.co and bitfunder.com, could people issuing these assets end up in trouble later?

This is a good question... The whole BTC story is a grey zone, so I assume this is not a clear issue...

[CIYAM]

Given what's happened to btct.co and bitfunder.com, could people issuing these assets end up in trouble later?

A good question - and another reason why I am not overly excited by AE as it stands. You'd be pretty brave not to be "anonymous" and list an Asset IMO.

This is why "atomic cross-chain transactions" *are* the holy-grail as you could deal through anonymous AE without needing to trust its owner as basically they would only then exist to set up a trade possibility between two parties (i.e. a means of finding each other and finding an agreed price) but the trade itself would happen in a way that the asset owner would have no control over (the fee in NXT being the only way that the "lister" could make anything at all assuming the system has been set up to allow this).

[igmaca]

At the dawn of electricity in the late nineteenth century was Thomas Edison envisioned a decentralized system with many small companies competing for generators installed near the point of consumption. Since the electricity distribution cables were still rare , the Edison Electric Lighting Company focused most of his first business in installing generators in small factories, shops, hotels and homes .
In 1888 , Edison had installed 1,700 small plants . In the early twentieth century , more than half of U.S. electricity It was self-produced by industries that took advantage of the waste heat and excess electricity sold to nearby customers.

Would it be possible to implement Nxt platform under the distributed energy market ?

Is a market where producers and consumers of energy would cross their sales orders and purchase orders simultaneously.

Today a small community of neighbors or landowners can generate and sell energy through solar PV , mini wind power, etc. .

For example an owner decide to install in his home to energy consumption solar pv but at certain times of day to spare and is now selling the excess energy in the Nxt platform.

At one point he needs same energy and buys his deficit in the Nxt platform.

both buyer and seller should obviously pay transport costs to distribution companies but the market for the generation and consumption of energy would peer ( peer to peer) .

This would link with the colored coins and the contract system like Ethereum .

Does anyone dare with the idea ?

If anyone dares I'm interested to collaborate .

[ImmortAlex]

Is that 6483973064837388393 some special account?
 it has had at maximum ~ 3 Million NXT, but it has earned fees almost double than those 50 Million's accounts.

I recall this was mentioned way back when alias-system was implemented and the rush for potentially profitable aliases started. For some reason, intentionally or by mistake, someone had set an enormous fee like over 100000 nxt to get just one alias. And one lucky guy, can't remember who it was but one of the active ones here, he was just lucky enough to forge that crazy fee.

That was C-f-B itself, who have forged that lucky block. AFAIR, he returned most of fee to alias issuer.

[VanBreuk]

Need some test Nxt for asset exchange please;   9637023121254362310

2457591381965084256

 Somone with a good heart... please allow me a chance to test this awesome system, before I start posting cat pics begging... I know CYIAM would hate pics in posts

NO NO CATS BEGGING PLEASE here have 10K.

[Come-from-Beyond]

At this stage I don't know enough about the Nxt protocol to comment - but fundamentally what we need to do is make sure that a Nxt tx is signed as a whole (so nothing is outside of what is signed apart from the sig) and that the sig itself cannot have an equivalent (with say leading zeroes).

Nxt transaction has the following format:

64 bytes of the header
64 bytes of the signature
X bytes of the attachment

Before signing it looks:

64 bytes of the header
64 zeros
X bytes of the attachment

All [64+64+X] bytes r signed and the signature is placed instead of the zeros.

PS: Ordinary payment is the only transaction that doesn't have an attachment.

[Anon136]

may i have some testNXT please

17567379695603145590

[abuelau]

Given what's happened to btct.co and bitfunder.com, could people issuing these assets end up in trouble later?

A good question - and another reason why I am not overly excited by AE as it stands. You'd be pretty brave not to be "anonymous" and list an Asset IMO.

This is why "atomic cross-chain transactions" *are* the holy-grail as you could deal through anonymous AE without needing to trust its owner as basically they would only then exist to set up a trade possibility between two parties (i.e. a means of finding each other and finding an agreed price) but the trade itself would happen in a way that the asset owner would have no control over (the fee in NXT being the only way that the "lister" could make anything at all assuming the system has been set up to allow this).

But how does this solve the problem? For example say I wanted to offer 10% of mynxt.info to investors. I don't feel comfortable doing it today because it would be easy to find me via the domain mynxt.info. How is that having having atomic cross-chain transactions would help in this case?

[kpax7788]

may i have some testNXT please

17567379695603145590

Sent 10k.

[wesleyh]

Given what's happened to btct.co and bitfunder.com, could people issuing these assets end up in trouble later?

A good question - and another reason why I am not overly excited by AE as it stands. You'd be pretty brave not to be "anonymous" and list an Asset IMO.

This is why "atomic cross-chain transactions" *are* the holy-grail as you could deal through anonymous AE without needing to trust its owner as basically they would only then exist to set up a trade possibility between two parties (i.e. a means of finding each other and finding an agreed price) but the trade itself would happen in a way that the asset owner would have no control over (the fee in NXT being the only way that the "lister" could make anything at all assuming the system has been set up to allow this).

But how does this solve the problem? For example say I wanted to offer 10% of mynxt.info to investors. I don't feel comfortable doing it today because it would be easy to find me via the domain mynxt.info. How is that having having atomic cross-chain transactions would help in this case?

He's talking only about crypto-to-crypto exchanges.

[bitcoinpaul]

This is why "atomic cross-chain transactions" *are* the holy-grail as you could deal through anonymous AE without needing to trust its owner as basically they would only then exist to set up a trade possibility between two parties (i.e. a means of finding each other and finding an agreed price) but the trade itself would happen in a way that the asset owner would have no control over (the fee in NXT being the only way that the "lister" could make anything at all assuming the system has been set up to allow this).

let's talk about it.

[abuelau]

Given what's happened to btct.co and bitfunder.com, could people issuing these assets end up in trouble later?

A good question - and another reason why I am not overly excited by AE as it stands. You'd be pretty brave not to be "anonymous" and list an Asset IMO.

This is why "atomic cross-chain transactions" *are* the holy-grail as you could deal through anonymous AE without needing to trust its owner as basically they would only then exist to set up a trade possibility between two parties (i.e. a means of finding each other and finding an agreed price) but the trade itself would happen in a way that the asset owner would have no control over (the fee in NXT being the only way that the "lister" could make anything at all assuming the system has been set up to allow this).

But how does this solve the problem? For example say I wanted to offer 10% of mynxt.info to investors. I don't feel comfortable doing it today because it would be easy to find me via the domain mynxt.info. How is that having having atomic cross-chain transactions would help in this case?

He's talking only about crypto-to-crypto exchanges.

Ah, got it. For that use case, indeed cross-chain transactions would be amazing

[Come-from-Beyond]

That was C-f-B itself, who have forged that lucky block. AFAIR, he returned most of fee to alias issuer.

That's how rumors that I'm a SkyNet bot r being created...

[msin]

Given what's happened to btct.co and bitfunder.com, could people issuing these assets end up in trouble later?

A good question - and another reason why I am not overly excited by AE as it stands. You'd be pretty brave not to be "anonymous" and list an Asset IMO.

This is why "atomic cross-chain transactions" *are* the holy-grail as you could deal through anonymous AE without needing to trust its owner as basically they would only then exist to set up a trade possibility between two parties (i.e. a means of finding each other and finding an agreed price) but the trade itself would happen in a way that the asset owner would have no control over (the fee in NXT being the only way that the "lister" could make anything at all assuming the system has been set up to allow this).

I have a hard time believing that anything makes you overly excited.    I do agree with cross-chain transactions, all the more reason why we need to be building coins on top of Nxt blockchain!

[CIYAM]

Nxt transaction has the following format:

64 bytes of the header
64 bytes of the signature
X bytes of the attachment

Before signing it looks:

64 bytes of the header
64 zeros
X bytes of the attachment

All [64+64+X] bytes r signed and the signature is placed instead of the zeros.

PS: Ordinary payment is the only transaction that doesn't have an attachment.

Then unless the signature can have more than one equivalent representation I don't see why we actually *have* a malleability problem?

Care to enlighten me?

[CIYAM]

I have a hard time believing that anything makes you overly excited.  

Believe me - if I get overly excited by Nxt then I think all of you would have already become very rich.

[ChuckOne]

Nxt transaction has the following format:

64 bytes of the header
64 bytes of the signature
X bytes of the attachment

Before signing it looks:

64 bytes of the header
64 zeros
X bytes of the attachment

All [64+64+X] bytes r signed and the signature is placed instead of the zeros.

PS: Ordinary payment is the only transaction that doesn't have an attachment.

Then unless the signature can have more than one equivalent representation I don't see why we actually *have* a malleability problem?

Care to enlighten me?

Isn't there a second signature of the issuer? I mean I do not want a node to change my transactions, right?

Sorry, was somehow confused by thinking of blocks.

[^[GS]^]

"G" captain please send test nxt or anybody who has a lot still thanks

6815286805809610855

sent 10k Test NXT




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[Come-from-Beyond]

Then unless the signature can have more than one equivalent representation I don't see why we actually *have* a malleability problem?

Care to enlighten me?

3rd party could add a number equal to Curve25519 group order to create a valid transaction with another id. That's how DoctorEvil hacked Nxt to replay a transaction.

Also the legit owner of a transaction could generate zillions of valid signatures for the same set of data.

[ImmortAlex]

That was C-f-B itself, who have forged that lucky block. AFAIR, he returned most of fee to alias issuer.

That's how rumors that I'm a SkyNet bot r being created...

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