NXT :: descendant of Bitcoin - Updated Information

[LemonAndFries]

Well it's not a PC, it's server space I'm renting off DigitalOcean to run a VPS.  It has 512MB RAM.

Remove "-Xmx1024M". Don't add any Xmx. For VPS it is the best variant.

Btw, managing node can be automated in 2 ways: (1) (2).

Thanks for the help!  Now that I look at it since you pointed it out, it makes sense.  I'm going to try this.

I'm still learning linux, I used to do networking and website hosting in the early 2000s but fell out.  This whole crypto thing has reignited my passion for computer tech, so now I'm working on catching up to be a techie once again. 
I need to do it the hard way to learn 

[bitcoinpaul]

I have made an internal proposal to the NXTcash team using the latest source code that will allow us to make a release that can be considered for mainnet use. Not sure how long it will take as I will need to start and finish Nodecoin 2.0 to fully implement the proposed NXTcash solution, not to mention a fair amount of work in the client code.

Before you say, "but we can't store the giant zeroknowledge proofs in the NXT blockchain!", let me say that the method I am proposing does not need to store the big proof in the blockchain, just the NXTcash minting and spending events. Still working out all the kinks, but I am optimistic.
...

Sounds like you're talking about using another chain for the zero-knowledge proofs and putting the hash (pointer) of the ZK block in the Nxt blockchain via AM, effectively using the PoS of Nxt to secure the second chain, no?

In essence yes, but with some differences. I want to get confirmation from the team that I am not crazy before disclosing more details though

James

Cool. Parallel chains, here we come.

Finally

[bitcoinpaul]

http://techcrunch.com/2014/02/15/kickstarter-coins-2/?ncid=reddit_social_share

This article is describing something that sounds a lot like NXTcoins!

One nuance that might have escaped you (it did me at first) is that we dont even need a gateway for NXTcoins. Mined or issued, they immediately infuse NXT AE with additional capital, which is clearly a good thing.
Each NXTcoins gets priced directly in NXT and indirectly to all the cryptos that the gateway supports.

Create a NXTcoins and instantly get a built in decentralized exchange and conversion into dozens of other cryptos. As soon as we get fiat gateways into AE, add conversion to fiat for all the NXTcoins

James

This will be big! Moontime...

[EmoneyRu]

Well it's not a PC, it's server space I'm renting off DigitalOcean to run a VPS.  It has 512MB RAM.

Remove "-Xmx1024M". Don't add any Xmx. For VPS it is the best variant.

Btw, managing node can be automated in 2 ways: (1) (2).

Thanks for the help!  Now that I look at it since you pointed it out, it makes sense.  I'm going to try this.

I'm still learning linux, I used to do networking and website hosting in the early 2000s but fell out.  This whole crypto thing has reignited my passion for computer tech, so now I'm working on catching up to be a techie once again. 
I need to do it the hard way to learn 

It's not hard to start Nxt on VPS.

Code:

sudo apt-get update && sudo apt-get install openjdk-7-jre unzip
wget http://download.nxtcrypto.org/nxt-client-0.8.3.zip
unzip nxt-client-0.8.3.zip
cd nxt
chmod +x run.sh
./run.sh &

The problem is to keep Nxt running after some exception or detecting fork blockchain. Or when you have

26th public node Im managing.

And new update comes in ...

[bitcoinpaul]

I  agree with you on needing to keep the cost low and using volume to drive the value of NXT. I can't help but wonder about the server costs and the risk of holding the other currencies. This may sound kinda sharkish but would it be possible to use the holding account to provide for the cost of the server? If there were enough banked in the holding account to cover withdraws and to make loans and charge interest?

For example, if there are 1000 people with money in the holding account it would be very unlikely that they would all want to withdraw at the same time. Knowing this you could safely lend a portion of the holding account out at interest to cover the cost of the server expense, and maybe bank some of the interest for insurance on the holding account. I don't mean to make a profit, as I understand your reasoning in wanting to provide the service for the worlds benefit, but economics is economics.

There is going to be a cost for providing this service. And it may be possible to generate the funds to pay for the service like this. Or if you made sure to include some proof of stake coins in the gateway inclusions and had enough of them banked to get fees for them (if that is possible).

 Maybe that is crazy.  

I think the AE is awesome and what you are doing with it is awesome. Game changing.

If I understand correctly, this idea is very bad.

[jl777]

I have made an internal proposal to the NXTcash team using the latest source code that will allow us to make a release that can be considered for mainnet use. Not sure how long it will take as I will need to start and finish Nodecoin 2.0 to fully implement the proposed NXTcash solution, not to mention a fair amount of work in the client code.

Before you say, "but we can't store the giant zeroknowledge proofs in the NXT blockchain!", let me say that the method I am proposing does not need to store the big proof in the blockchain, just the NXTcash minting and spending events. Still working out all the kinks, but I am optimistic.
...

Sounds like you're talking about using another chain for the zero-knowledge proofs and putting the hash (pointer) of the ZK block in the Nxt blockchain via AM, effectively using the PoS of Nxt to secure the second chain, no?

In essence yes, but with some differences. I want to get confirmation from the team that I am not crazy before disclosing more details though

James

Cool. Parallel chains, here we come.

Dont get too excited, I said in essence, but strictly speaking it is not parallel chains.

[xyzzyx]

Cool. Parallel chains, here we come.

Dont get too excited, I said in essence, but strictly speaking it is not parallel chains.

I'm still looking forward to whatever you have in mind. 

[CoinTropolis_JustaBitTime]

Austin Bitcoin Conference PT 2


Update 4

"I would love to have you be a guest on our show Free Talk Live during the Texas Bitcoin Conference. " - Free Talk Live

We'll get this coordinated with the Austin Team so they can handle the broadcast.


Update 5

silkroadequity.com is available to meet us at the conference

[LemonAndFries]

Well it's not a PC, it's server space I'm renting off DigitalOcean to run a VPS.  It has 512MB RAM.

Remove "-Xmx1024M". Don't add any Xmx. For VPS it is the best variant.

Btw, managing node can be automated in 2 ways: (1) (2).

Thanks for the help!  Now that I look at it since you pointed it out, it makes sense.  I'm going to try this.

I'm still learning linux, I used to do networking and website hosting in the early 2000s but fell out.  This whole crypto thing has reignited my passion for computer tech, so now I'm working on catching up to be a techie once again. 
I need to do it the hard way to learn 

It's not hard to start Nxt on VPS.

Code:

sudo apt-get update && sudo apt-get install openjdk-7-jre unzip
wget http://download.nxtcrypto.org/nxt-client-0.8.3.zip
unzip nxt-client-0.8.3.zip
cd nxt
chmod +x run.sh
./run.sh &

The problem is to keep Nxt running after some exception or detecting fork blockchain. Or when you have

26th public node Im managing.

And new update comes in ...

It's not hard really, I just need to remember the commands.  Soon I will have a RPi to play with.

But I don't have it as bad as others who run farms of these.

[fmiboy]

I'm considering locking this thread on page 2100.  What are everyones' thoughts?

I don't want to interrupt communication, but I think we would make more progress if we were better organized.

Poll - https://forums.nxtcrypto.org/viewtopic.php?f=2&t=839

no. who wants to try to keep up with 100 threads? and miss all the jokes and dev conversations!

KEEP IT ALIVE!

+1

[redsn0w]

Goodmorning people 

[fmiboy]

I have made the current source code repository public:

https://bitbucket.org/JeanLucPicard/nxt/

Master branch is still 0.7.6, develop is 0.8.3 plus latest unreleased changes.

great news!

[2Kool4Skewl]

http://techcrunch.com/2014/02/15/kickstarter-coins-2/?ncid=reddit_social_share

This article is describing something that sounds a lot like NXTcoins!

One nuance that might have escaped you (it did me at first) is that we dont even need a gateway for NXTcoins. Mined or issued, they immediately infuse NXT AE with additional capital, which is clearly a good thing.
Each NXTcoins gets priced directly in NXT and indirectly to all the cryptos that the gateway supports.

Create a NXTcoins and instantly get a built in decentralized exchange and conversion into dozens of other cryptos. As soon as we get fiat gateways into AE, add conversion to fiat for all the NXTcoins

James

This will be big! Moontime...

[btc2nxt]

Here is version 2.1 of my Windows NXT client "NXT Solaris".


Changelog
-Compatibilty fixes for NRS 0.8.x
-Implemented Curve25519 algorithm:
  * NXT Solaris is now a bit like "Electrum for NXT" (a thin client that does not download the complete blockchain, connecting to untrusted NRS nodes)
  * It is now safe to connect to public NRS nodes (except for forging).
  * As default, NXT Solaris no connects to a random public node.
  * Currently a static list of public nodes that allow API calls from anyone from the text file public_nodes.txt is used.
  * NRS and Java are now longer distributed with NRS Solaris.
  * You will get a warning in the secret input dialog if the secret is transmitted over http to the remote NRS node (only with start/stop forging).
  * If you want to forge, run your own NRS instance locally and set up NXT Solaris to connect to your instance.
-Since there is no batch mode in the NRS API:
  * Details for peers are no longer retrieved as default
  * A maximum of 50 (yet unkown) transactions per account are fetched from the NRS node whenever there is a new block
-Fixed null exchange rates when www.cryptocoincharts.info is down


Download
64-bit Version: NXTSolaris-v2.1-64bit.zip (29.6 MB) – Download here
SHA256 checksum for NXTSolaris-v2.1-64bit.zip: C01599EA51599AD4E2EE8D0B1762686EB7EC274118658C43F76983957F76B0D7

32-bit Version: NXTSolaris-v2.1-32bit.zip (27.5 MB) – Download here
SHA256 checksum for NXTSolaris-v2.1-32bit.zip: EAE75B046577E771CC2C8F57D2A4B8D9AF9F87F92FE5CD400DDE9F9755589957

For more screenshots and everything else please visit: http://nxtsolaris.wordpress.com/


Installation
Simply unzip the archive and run the NXTSolarisStarter.exe file.

The current version 2.1 is NOT compatible with the previous versions. Please delete any existing files and extract the zip archive to a new directory.

Roadmap
1.) Move current version of my code to XE5 and release closed source 32-bit and 64-bit versions for Windows. [DONE]
2.) Refactor code to a MVC architecture, so that I can create separate GUIs while using the same version of the business logic code. [DONE]
3.) Create new GUIs for Windows and OS X using the same business logic, but based on the cross-platform Firemonkey libraries. [DONE]
4.) Release Windows version (32 and 64 bit) based on FireMonkey. [DONE]
5.) Implement new features from the TODO list [DONE]
6.) Release source-code for FireMonkey Windows version (February 16th, 2014 latest) [DONE]
7.) Implement new features from the TODO list
8.) OSX compatibility changes
9.) Release OSX version based on FireMonkey.
10.) Release source code for FireMonkey OSX version.

TODO list
-Arbitrary message encryption
-Offer a simple and advanced GUI, with the simple GUI targeted at new users
-Implement client side Curve25519 encryption/signing



Donations
I hope you like my client and I’d be extremely happy to see some donations for the future of this project!

NXT: 1758531264253431177

+1

to mario123
i am designing a lightweight NXT tool for Windows on NXTSolaris sourcecode

[bitcoinpaul]

Once again, someone needs to clarify some things for me. Please correct the following process, it could be total bullshit:

1. James uses AE + AM and three servers to make a gateway for external coins
2. Sending DOGE to the gateway triggers an automated process to send DOGE assets from the Nxt accounts of the servers to the sender's Nxt account
3. Sending DOGE assets back to the gateway triggers the servers to send DOGE coins back to a DOGE address

You got it!

Ok, let's talk about centralization and decentralization.

No matter if there are 3 or more servers running the gateway stuff, it is centralized (since 1 guy could be in charge of these servers). I think no one can change that. So we have one centralized gateway. With full transparency, but it is still centralized.

If there would exist many of these gateways (N) from different people/companies/entities, we could foster some decentralization and, therefore, trust in the Nxt ecosystem. The result is that we would have N different Assets for a coin. Now the free market can value each asset for a coin differently because its different trust in these gateways. We saw an example of this in the last weeks/days as people wanted to trade their goxBTC with other BTC.

Conclusion: We need a nice paper on how these gateway servers work and make it public with a big bang.

[hala]

ANNOUNCEMENT

NMAC Share Placement is Closed

We are pleased to announce that due to very strong demand we are closing the 1st & 2nd Tier share placement from this moment.  The below investors in BOLD have already collectively pledged to purchase 57 million shares.  We are still awaiting the pledges of the UN-BOLD members, because of the strong demand we will push forward the placement process date to March 5th, 11:59 PM GMT.

Pls bare in mind that this is the deadline for mentioning how many shares you wish to purchase.  Payment will be settled at a later date which we will communicate to all concerned.

   Looks great . I have joined in .
   But I have a question, can the investor transfer their shares with price to other people ?

[jl777]

No matter if there are 3 or more servers running the gateway stuff, it is centralized (since 1 guy could be in charge of these servers). I think no one can change that. So we have one centralized gateway. With full transparency, but it is still centralized.

If there would exist many of these gateways (N) from different people/companies/entities, we could foster some decentralization and, therefore, trust in the Nxt ecosystem. The result is that we would have N different Assets for a coin. Now the free market can value each asset for a coin differently because its different trust in these gateways. We saw an example of this in the last weeks/days as people wanted to trade their goxBTC with other BTC.

Conclusion: We need a nice paper on how these gateway servers work and make it public with a big bang.

Not sure how one guy would be in charge of three INDEPENDENT gateways. This is what I have been saying. We need to find three different, independent, separate, not the same guy, gateway operators.

All of these gateways issue the SAME asset. This is possible due to the shared multisig acct. All three independent gateways share a single multisig acct, but it takes two to make a withdrawal. No single gateway owns or controls the customer deposits.

I have written and described how this works many times. Maybe it would help if one of our graphics guys made a nice easy to understand chart?

James

[fmiboy]

Who wants to develop a lightweight NXT tool for Windows or Mac, which sits just in your taskbar/menubar (see picture as a mockup)?
I'm no developer, so somebody needs to step up for this. But I could make a nice landing page for it

Idea:
Installing and running this little tool should be hassle free. You can lookup your account, use main Nxt functions (like sending NXT, messaging), activate/deactivate forging right from the menu and you see some general blockchain stats.

That way, we could promote this little gadget as a simple and lightweight tool which runs smoothly in the background, forging for you (or not) and securing the Nxt network.

Wouldn't you and newcomers love this lightweight and unobtrusive tool which actively secures the Nxt network?

Here is a mockup with stolen elements of a famous UI



(I posted this idea once (or twice) before but no dev wanted to do it yet)

I would like to have the nodecoin-qt take this form!
It would require forging to be enabled to "mine" nodecoins.
It will also be monitoring the NXT blockchain so it can perform peer reviews of gateway balances, NXTcash, etc.

I will be making a small C library that can be linked or compiled into anything, but I dont do GUI,so I need someone to add the user friendly installation and these tray icon things.

I open this project to bids. If you are able to do this, submit your bid on how much it will cost and if I like it, then the project is yours. It needs to be open source and either multiplatform (unix, mac, windows) or three different versions.

James

James, I did PM you weeks back about adding nodecoin into Clienxt, but got no respond.

I am still considering it, no need bid/cost... I like the project and I do my best to include it in Nxt ecosystem GUI, though priority now is forging, now Nxt core is open source, I think it will be available on clienxt soon. By that time, i hope nodecoin will be stable.

[bitcoinpaul]

I want to remind that the "Wallstreet type guys" could build big financial gateways for derivates, mortgages, ETFs, whatever they want. Nxt would be the platform to trade all the stuff in a decentralized way on Nxt. Companies could mix these Assets and resell them under their own Assets. Hello subprimes mortgages. Endless evil possibilities. Oh yeah, baby.

Unrealistic? Good? Bad?

How could we simplify and/or improve James' system to make it better? And would some new lines of code in the Nxt core improve the situation for such gateways?

[bitcoinpaul]

Not sure how one guy would be in charge of three INDEPENDENT gateways. This is what I have been saying. We need to find three different, independent, separate, not the same guy, gateway operators.

It is more a market / marketing thing than a technical, if you understand what I mean. The three guys could make a secret deal to become evil in one year if everything is established and running.