NXT :: descendant of Bitcoin - Updated Information

[pandaisftw]

I just woke up, so here was my idea:

Asset Exchange Enhancement

Here is a snippet of what I sent a community member:

A) Using a URL embedded in the asset description, the client would then be able to communicate with the URL

B1) The client sends a random string to the URL. The server behind the URL should then sign the string with the asset issuer's Auth Key and return this to the client. If the Auth key is valid, this should prove that the URL is in fact owned by the asset issuer. This will ensure that even if the URL is somehow redirected, the attacker would still need the asset issuer's private key.

B2) If B1) doesn't work, use some method of key signing (such as curve25519) which would allow the client to validate the URL (I explain this process in the attached doc).

c) Once the URL is verified to be owned by the asset issuer, it would pull information provided by the URL and overlay that onto the asset. This will allow much greater flexibility in the Asset Exchange, as well as allow "duplicate named" assets as well as being able to categorize assets efficiently.

I feel that this will be an extremely important feature, especially for services that will have to register a lot of assets that may be squatted by those wishing to make a quick profit at the service's expense. The NXT game we are working on is planning to use the Asset Exchange to provide liquidity for the exchanging of items, but it would be much better if players could easily find all of our items easily, instead of having arbitrary names which can be squatted. We can even include pictures!

To explain better, I have prepared a document (with visuals) here:

https://docs.google.com/presentation/d/1yPt4x8V6015atQlszXj-IloOkUvDRdt15rsxPxy2jiQ/edit?usp=sharing

I'm not 100% sure how NXT Auth Keys work - instead of a website, I think you can provide a random string (in the website field) that the server would then hash using their Auth Token. But I provided the second solution just in-case that was not possible.

After feedback from Chanc3r, I streamlined the idea and removed the unneeded, more complicated key exchange slides. NXT already provides everything needed for this idea to work.

Take a look:

https://docs.google.com/presentation/d/1FsyumJLmQ9ckLNkHlmW1oPRGOoK3oAg_pVjFz3s0fNw/edit?usp=sharing

Feedback is appreciated!

[1714058550]

1714058550

[1714058550]

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[shoichikun808]

If you didn't yet please go vote that btc38.com adds Nxt:

https://bitcointalk.org/index.php?topic=501963.0

We were ahead now Vertcoin is just slightly ahead of us and make sure you pass this link around as well!

btc38.com is a big alt-coin exchange in China, so it would be very nice to be listed.

According to 2Kool he said we are going to be listed. Wish he linked where he heard it though.

[w4llace]

Girls 'n boys,

I don't know why until now there exists no Wikipedia-Article about NXT in the main Wikipedias (English, German, Netherlands, Swedish, etc.)?
Besides our own wiki these are the simplest and I think the easiest possibilities for marketing! John Doe will search the internet for NXT if he heres the first time about it.
People in this thread may think that Wikipedia isn't a trustworth source (especially for financial decision), but for the normal guy in the neighborhood it is more suspicious if there is NO article about a unknown cryptocurrency in his native language at Wikipedia instead of there is JUST an article there

I hereby (I like this word, yeah) invite all of you to write an NXT-article in the main Wikipedias or just contribute a small piece of text (could be a improvement of a false info or a big chapter about a special function of NXT) there.

To set a good example I created in the last hours the structure of the german article (https://de.wikipedia.org/wiki/Nxt_(W%C3%A4hrung)) and filled some of the parts with information.
It is far away from being perfect and somebody should immediatly have a look about my lousy compilation, but it is a start!

I'm willing to create some infographics for the wiki-articles - please write me a PM with your ideas!

[zorke]

Of course I think it is time for ALL stakeholders >10M to form a committee and contribute proportionally an amount every month for the core dev team too!

I can't agree more with you Klee on this one.
By reading this thread daily, one can get a good sense on where is this boat headed to. In a past couple of days I realized that this will be a hell of a quest if we wanna succeed. I mean let's put a side to da moon and crap like that and lets be realistic. We have a huge journey in front of us and I think we are on a turning point as we speak.

CFB is leaving us soon, we could see some major misunderstandings in the thread in the last week or so. Today we even got to ask ourself who we are and what did BCNext, our father envisioned us to be? And then rickyjames came back with the report from TBC and I felt unease when I was reading this. But this is who we are and how people see us! Not too many people know about us and the ones who did hear about us our quite sceptical and they don't like us. All of the above is OK because trust must be earned and not given, and we must earn this trust!

We are busting our asses here to make this thing work but I am not sure can we do this without the whales and all of the above I am writing to you, the whales. Gentlemen you should be sure that there is a rocky road in front of us and you should be aware that there are more chances that we do not succeed than there is that we will make it, realistically. Because there are some huge players like Etherum that are coming and these guys are machinery that everybody talks about and they can afford to take all of the time of this world when everybody are talking about them. There is our chance, but I am afraid we won't make it without you. I know that you guys are reading this forum, because I would read it daily if I was holding even 10M NXT and not to mention 20, 30, 40, or 50M. It is time that you guys take a responsiblity and share some of your wealth for yours good and than for the good of all of us together. All top 60 accounts!Because NXT can be huge, we have potential but I am afraid not without you guys. We are not begging your NXT, we are just asking you to hire Devs and invest in NXT so all of our investments can become more valuable and we make this thing work together.

For the end, you shouldn't play with the fire. All of this can colapse very easy and who will then give a crap about your 50 or 30 or 10M NXT? Nobody!! God forbid that this happen, but we would then see how would you cash out all your millions!

[eightspaces]

what is the best nxt client (multiplatform) so far?

which one is endorsed by bcnext ?

thx

[klee]

As I said, I will approach the candidates once we have some names and know how the newcomers would be able to contribute.

Who is going to conduct the technical interviews?

Tou, CfB and Ian

[opticalcarrier]

Girls 'n boys,

I don't know why until now there exists no Wikipedia-Article about NXT in the main Wikipedias (English, German, Netherlands, Swedish, etc.)?
Besides our own wiki these are the simplest and I think the easiest possibilities for marketing! John Doe will search the internet for NXT if he heres the first time about it.
People in this thread may think that Wikipedia isn't a trustworth source (especially for financial decision), but for the normal guy in the neighborhood it is more suspicious if there is NO article about a unknown cryptocurrency in his native language at Wikipedia instead of there is JUST an article there

I hereby (I like this word, yeah) invite all of you to write an NXT-article in the main Wikipedias or just contribute a small piece of text (could be a improvement of a false info or a big chapter about a special function of NXT) there.

To set a good example I created in the last hours the structure of the german article (https://de.wikipedia.org/wiki/Nxt_(W%C3%A4hrung)) and filled some of the parts with information.
It is far away from being perfect and somebody should immediatly have a look about my lousy compilation, but it is a start!

I'm willing to create some infographics for the wiki-articles - please write me a PM with your ideas!

we had one but it was deleted b/c it "looked too much like advertising"  so not sure how to make one that they would accept

I just updated my client from 0.7.5 to 0.8.8 and have a couple newb questions:

1) is there a way to import the blockchain database from my previous installation so as not to have to re-download the whole thing? I tried replacing the nxt.h2.db file with a back-up of the one from my earlier installation, but it didn't work.

2) How do I safely stop the process when I want to shut down the client? I use the "sh run.sh" terminal command to start it, but don't know how to stop it.

you have to copy the whole nxt_db directory, not just the files in it.  Use ctrl-c inside the console window and it will close itself down

[apenzl]

NXT FUNDS COMMITTEE MEMBERS HAS BEEN ELECTED. X3

Congratulations to the brave Nxters who got their hot seats. May you all do well for us  

Read more here:
http://nxter.org/nxt-funds-committees/

[okaynow]

@ Valence
I kept the "nxt_db" folder from the previous install on every upgrade. worked like a charm.

[w4llace]

Girls 'n boys,

I don't know why until now there exists no Wikipedia-Article about NXT in the main Wikipedias (English, German, Netherlands, Swedish, etc.)?
Besides our own wiki these are the simplest and I think the easiest possibilities for marketing! John Doe will search the internet for NXT if he heres the first time about it.
People in this thread may think that Wikipedia isn't a trustworth source (especially for financial decision), but for the normal guy in the neighborhood it is more suspicious if there is NO article about a unknown cryptocurrency in his native language at Wikipedia instead of there is JUST an article there

I hereby (I like this word, yeah) invite all of you to write an NXT-article in the main Wikipedias or just contribute a small piece of text (could be a improvement of a false info or a big chapter about a special function of NXT) there.

To set a good example I created in the last hours the structure of the german article (https://de.wikipedia.org/wiki/Nxt_(W%C3%A4hrung)) and filled some of the parts with information.
It is far away from being perfect and somebody should immediatly have a look about my lousy compilation, but it is a start!

I'm willing to create some infographics for the wiki-articles - please write me a PM with your ideas!

we had one but it was deleted b/c it "looked too much like advertising"  so not sure how to make one that they would accept

Good point. I changed the chapter title "myths" in "critic", now it looks more serious

[rickyjames]

THE NXT FUNDING COMMITTEE MEMBERS HAVE BEEN ELECTED AS FOLLOWS:

Link to final results at ElectionBuddy:

https://www.electionbuddy.com/elections/12343/results/t34ayqhm2

NXTmarketingfund Committee
=========================
Damelon: 134 votes - 14.7%
allwelder: 127 votes - 14.0%
salsacz: 116 votes - 12.8%
joefox: 102 votes - 11.2%
brooklynbtc: 96 votes - 10.6%

Unelected candidates:

CoinTropolis_JustaBitTime: 88 votes - 9.7%
Asian Prepper : 73 votes - 8.0%
CoinTropolis_NiftyNikel: 64 votes - 7.0%
Uniqueorn: 61 votes - 6.7%
Mario123: 48 votes - 5.3%

NXTtechdev Committee
====================

Jean-Luc: 217 votes - 26.4%
Anon136: 187 votes - 22.7%
l8orre: 107 votes - 13.0%
EmoneyRu: 104 votes - 12.6%
abuelau: 99 votes - 12.0%

Unelected candidates:

BaiMangal: 49 votes - 6.0%
antanst: 34 votes - 4.1%
Arckam (aka frmelin): 26 votes - 3.2%

NXTinfrastructure Committee
===========================
marcus03: 166 votes - 20.7%
EvilDave: 133 votes - 16.6%
ferment: 119 votes - 14.8%
chanc3r: 107 votes - 13.3%
ChuckOne: 95 votes - 11.8%

Unelected candidates:

^[GS]^: 84 votes - 10.5%
pandaisftw: 67 votes - 8.3%
Secondleo : 32 votes - 4.0%

WHAT HAPPENS NOW:

I will publish a follow-on post that lists all ballot codes and who they were (or were not) sent to, along with a discussion of several minor incidents where I messed up slightly in ways that do not affect these results.  I will mail my password at electionbuddy.com to all candidates so they may verify this list is indeed the list of ballots codes used.  Upon request, I will submit forwarded copies and screen shots of my PMs sending out these ballot codes to the stated voters to anybody that wants to contest or question whether a specific ballot was used by the stated voter.  This offer stands for 7 days following my publication of the ballot list.  After that time, if there are no outstanding protests, this election will be considered certified and valid.

I will also email the new committee members passwords to a Google account I have set up (NXTfunds) that has some spreadsheets and forms that may help them organize their new duties.  After that, they are on their own.

Your big mouthed dictator has spoken, and hereby resigns.

[klee]

Funding issues
Some thoughts in response to recent discussions.

To put things in perspective, let's see what is being done and has been done in the area of funding.

What is currently available for spending:
We have over 12 million NXT available at the community's disposal for a very long time. If we include the 5M pledged by Mr 47, we're looking at over 17 million. Bulk of this ammunition has been sitting idle due to problems obtaining consensus. Remember how long the unclaimed funds debate dragged on? That's the price we have to pay for decentralization.

We are now days away from finalizing the various committees. Once that's done, they should, in short order, be able to deploy that sizable stash of reserves to fund urgently needed activities.

What has already been donated and spent:
Newer members of our community may not be aware that substantial amounts have been donated by founders during the early days, and some continue to do so till this day. Some prefer to donate publicly, others prefer to do so anonymously. So, besides the 17M currently available, many more millions had already been spent to promote and strengthen the Nxt ecosystem. If you don't see them, it does not mean that donations were not being given.

What about apparently inactive founders?
Numerous nasty, and often unfounded, comments have been thrown at founders. These are not helpful, and will only have the effect of turning away these so called whales instead of engaging with them. I wonder if more will be actively engaging if there had been less of these negative attitude. Please realize that one way or another, founders have made a collective effort to help bring Nxt to where it is today. I see 3 broad strategies adopted by the founders to achieve this:-

Strategy 1 (Short term)
Some have chosen to take the strategy of distributing NXT fast by selling very cheaply immediately after launch. Look at the early posts in the trading thread. Many of you benefited directly from these founders' strategy.

Strategy 2 (Medium term)
Others have chosen to take the strategy of distributing NXT further down the road (after the dust has settled from the early fire sales), by donating through bounties and other means. This group provided the fuel to power the Nxt economy through the stormy days of DDoS and subsequent building of the Nxt infrastructure to the state we see today.

Notice that if all founders had chosen strategy 1, we would not have seen the increase in the value of NXT. This will not have provided the incentive for early adopters to continue working on the project. It would also not have drawn in new investors. On the other hand, if all founders had chosen strategy 2, nothing would have moved and all their NXT would be worth nothing. You can see that there is a very delicate balance between these 2 strategies. They compliment each other, and they have managed to keep this delicate balance in a decentralized manner without having to collaborate like a cartel!. It's market forces and collective wisdom at play.

Strategy 3 (Long term)
All eyes are on a very small number of large founder accounts that don't seem to move. This, I think are founders who are taking a long term strategy. These founders have decided to hold substantial amounts to act as possible network defender of last resort. They provide the ammunition needed to fight off yet unknown threats which may require a large stake to defend or to fund more costly development and infrastructure further down the road. A possible example is Mr 47. If you think carefully (read between the lines) about his last 2 conditions, you'll see how that falls under strategy 3.

If we don't lose sight of the forest for the trees, we can see that free market forces and collective wisdom of all well-meaning stakeholders ultimately work towards the strengthening of the Nxt ecosystem. More engagement and less non-constructive criticisms will certainly help.

Finally.... back to funding for the core dev team, and for that matter funding for marketing & infra. I do not think founders will continue to pile more NXT into the funds if they remain underutilized. Once the committees begin to spend the funds wisely and prudently (showing results), and when it begins to run low, I am pretty sure founders and early adopters will step up to the plate. I will be one of them.

In the long term, I do not think the community should be remain reliant on central funding for building the Nxt ecosystem. While it is essential during these early days (as a bootstrapping measure), the ecosystem should develop in such a way that it will become profitable to build services. Taking Bitcoin as an example, save for Gavin, all other developers (core, client, infra) continue to support the ecosystem through indirect "privatized" means. If we continue to pick up traction, we may be there sooner than we think.

Well said Pouncer.

I just wanna add that early stakeholders and stakes >10M in general should form some type of committee/organization. My limitations in expressing clearly my thoughts in English prevent me from doing so but I think that it is a bit of self explanatory why this will be useful.

And I am not talking about centralisation, market manipulation etc but for being catalysts and coordinating up to a point what you described above. We can be free to do what we want with our stake but maybe sometimes it would be better to act in coordination.

PS: I added you on skype but you have not responded.

[Damelon]

Girls 'n boys,

I don't know why until now there exists no Wikipedia-Article about NXT in the main Wikipedias (English, German, Netherlands, Swedish, etc.)?
Besides our own wiki these are the simplest and I think the easiest possibilities for marketing! John Doe will search the internet for NXT if he heres the first time about it.
People in this thread may think that Wikipedia isn't a trustworth source (especially for financial decision), but for the normal guy in the neighborhood it is more suspicious if there is NO article about a unknown cryptocurrency in his native language at Wikipedia instead of there is JUST an article there

I hereby (I like this word, yeah) invite all of you to write an NXT-article in the main Wikipedias or just contribute a small piece of text (could be a improvement of a false info or a big chapter about a special function of NXT) there.

To set a good example I created in the last hours the structure of the german article (https://de.wikipedia.org/wiki/Nxt_(W%C3%A4hrung)) and filled some of the parts with information.
It is far away from being perfect and somebody should immediatly have a look about my lousy compilation, but it is a start!

I'm willing to create some infographics for the wiki-articles - please write me a PM with your ideas!

we had one but it was deleted b/c it "looked too much like advertising"  so not sure how to make one that they would accept

Good point. I changed the chapter title "myths" in "critic", now it looks more serious

It was branded as advertising because all the links were from us.
That is how they judge a page to be biased.
If you include enough links that are from outside sources, it might stay up.

Just be sure not to just link to our own sites.
And also keep an eye on the page discussion page to see what reactions there are.

[okaynow]

If you didn't yet please go vote that btc38.com adds Nxt:

https://bitcointalk.org/index.php?topic=501963.0

We were ahead now Vertcoin is just slightly ahead of us and make sure you pass this link around as well!

btc38.com is a big alt-coin exchange in China, so it would be very nice to be listed.

According to 2Kool he said we are going to be listed. Wish he linked where he heard it though.

Top 3 right now, on the thread vote.
 

[mcjavar]

Girls 'n boys,

I don't know why until now there exists no Wikipedia-Article about NXT in the main Wikipedias (English, German, Netherlands, Swedish, etc.)?
Besides our own wiki these are the simplest and I think the easiest possibilities for marketing! John Doe will search the internet for NXT if he heres the first time about it.
People in this thread may think that Wikipedia isn't a trustworth source (especially for financial decision), but for the normal guy in the neighborhood it is more suspicious if there is NO article about a unknown cryptocurrency in his native language at Wikipedia instead of there is JUST an article there

I hereby (I like this word, yeah) invite all of you to write an NXT-article in the main Wikipedias or just contribute a small piece of text (could be a improvement of a false info or a big chapter about a special function of NXT) there.

To set a good example I created in the last hours the structure of the german article (https://de.wikipedia.org/wiki/Nxt_(W%C3%A4hrung)) and filled some of the parts with information.
It is far away from being perfect and somebody should immediatly have a look about my lousy compilation, but it is a start!

I'm willing to create some infographics for the wiki-articles - please write me a PM with your ideas!

Cool! Thank you for setting it up!

[S3MKi]

EmoneyRu пpинимaй пoздpaвлялки https://bitcointalk.org/index.php?topic=345619.msg5578891#msg5578891

[coloredcoin]

I think they know if they don't stop selling some time soon to let NXT breathe, they kill NXT, simple as that.

No it's not simple. If the initial investors stop selling NXT, it will negatively affect it's health.

If Nxt has been killed,how to talk about health?

[grandpa_seth]

I bought Nxt on cryptsy to increase my hodlings. Its been 24 hours since my Nxt withdrawal and still pending. Anybody withdraw Nxt from cryptsy? How long did it take?

[klee]

...

the transaction fees are still too damn high, forging rewards are way to low & come too slow for all but the richest Nxters.

...

Slow? Maybe. Low? No, everyone gets the same percentage. Anyways, you can't have high forging rewards and low fees.

Well I've been at it over 1 month with 10k NXT and haven't seen a single block. Supposedly I'll get 100 Nxt sometime in the next 11 months but in the meantime it sure seems like a waste of time and the longer I wait the less I believe it. It's not about the Nxt for me, I've given away far more than that, but it makes me concerned for the system as a whole as I don't think many people will bother with forging if this is how it is.

10K nxt and you expect 'mining' reward? So you would invest less than a bitcoin in a PoW hardware and you would expect reward too?
Do I miss something?

[ChuckOne]

[NXTmixer announcement]

Based on feedbacks and ideas in the NXTcash thread, I think i might have come up with a pretty good NXT mixing algo. I just got a successful encrypt/decrypt cycle in the multigateway. Obviously, still very new as I just started coding this today, but now that I have verified proper public/private key handling, the rest is a matter of debugging.

The initial model supports both a mixing service using the gateway and a totally decentralized direct "payment" path. However, since NXT doesnt support multisig (hint, hint, CfB) the mixing is totally centralized on one of the gateway servers. The decentralized part allows (nearly?) undetectable transmission of NXT acct password (or any other data) directly to the destination acct.

Even though I am adding this functionality to the gateway, it is totally independent of the multisig DOGE gateway and also NXTcash. It just shares a lot of the code base, so it was easiest to add to the existing multigateway code. I am using libnacl http://nacl.cr.yp.to/index.html that xyzzyx recommended.

Ah, you want to know how it works?

I added the following to the gateway_AM structure:

Code:

struct payment_bundle
{
    unsigned char escrow_pubkey[crypto_box_PUBLICKEYBYTES];
    unsigned char depositaddr[MAX_NXTADDR_LEN];
    unsigned char paymentacct_key[crypto_box_SECRETKEYBYTES];
    unsigned char txouts[8][MAX_NXTADDR_LEN];
    int64_t amounts[8],sessionid;
};

added to gateway_AM:
        struct
        {
            unsigned char publickey[crypto_box_PUBLICKEYBYTES];
            unsigned char nonce[crypto_box_NONCEBYTES];
            unsigned char paymentkey_by_prevrecv[crypto_box_PUBLICKEYBYTES + crypto_box_SECRETKEYBYTES + crypto_box_ZEROBYTES];
            unsigned char payload_by_escrow[sizeof(struct payment_bundle) + crypto_box_ZEROBYTES];
        };

At the high level there are what I call sessions. Initially, when the activity is low, a session might be as long as a day, but as activity grows, the duration of a session will shrink. It is critical that your transaction isnt the only one in a session, otherwise no amount of anything will help anonymity. If there are 1000 transactions, then with a good system, the best anybody should be able to do is 0.1% accuracy, eg. random guessing.

Each session goes as follows:
A. NXTmixer pays out all the funds that cleared during the last session to the depositaddrs for each NXT addr that received anonymous payment during the session

B. NXTmixer publishes new sessionid and its public key for this session

C. ALL participating nodes publish a SEND_ANONYMOUS_PAYMENTS AM. Yes, I said ALL nodes.

D2. ALL nodes process all of the SEND_ANONYMOUS_PAYMENTS from C and they try to decrypt every paymentkey_by_prevrecv. If they are able to decrypt it (first half matches their previous public key) then they have access to the NXTacct that the password in the rest of the message contains.

D2. NXTmixer also scans all SEND_ANONYMOUS_PAYMENTS from C and processes all payment bundles that properly decrypt. paymentacct_key is for a (temporary) account that is funded with the amount necessary to make all the payments specified in the payment bundle. In order to make sure it wont be emptied and to MIX all the NXT together, the funds required to make all the payments are sent to a shared account. Since NXT is totally fungible, this step is actually VERY effective in removing payment source information.

The NXTmixer updates the credits for each NXTacct during session and when there is enough different payments or max time elapsed, the session ends and we go back to A, where the payments are made.

************
The NXTmixer cannot implement all parts of this by itself, the clients need to implement code that synchronizes all participating nodes. The reason for this is that if everybody is broadcasting, then there is no information leaked when you publish your public key and payment bundle. Since everything is on the same broadcast, anybody can receive the message, but nobody knows if they did or not. This allows a direct transmission of a funded NXT acct to somebody else. Let us assume you will trust them to not drain the account during the next two sessions. Since he is the one paying you, if he does, then whatever deal was in place is off.

userA funds acct A with 10000 NXT
userA encrypts password for acct A using public key of B and it goes into paymentkey_by_prevrecv

userB decrypts the AM and gets the password for acctA and locally verifies that it has 10000 NXT
Now, for the next session, userB sets the paymentacct_key to be the key for acctA and payments can be made from this acctA on behalf of userB, even though userB has NEVER used the password for acctA other than locally to encrypt it into the payment_bundle.

Similarly, you can specify your depositaddr to be an acct that you have never used, but know the password for. Then in later sessions, you can use depositaddr's password as the paymentacct_key. As long as you are receiving payments, you are able to make pretty anonymous payments as I am finding it hard to figure out how anybody can determine payment paths.

Can anybody find any serious flaws with this approach? Should I debug this and add it to the multigateway?

James

CfB told me long time ago that this type of mixing can be revealed by knapsacking.