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Author Topic: NXT :: descendant of Bitcoin - Updated Information  (Read 2756303 times)
Damelon
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March 09, 2014, 10:13:10 PM
 #42541

Guys, relax!

Password generator will get implemented in Wesleyh's installer (NRS + nice GUI). And now, move on.

Please read this monster thread before you post Wink

Thank you.

But of course, if you have nothing better to do, just go on with the discussion Roll Eyes

We can also start our own conversation.
It'll be like a pub!

How've you been, Paul? Wink

Member of the Nxt Foundation | Donations: NXT-D6K7-MLY6-98FM-FLL5T
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bitcoinpaul
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March 09, 2014, 10:13:33 PM
 #42542

I pushed code that supports GUIDs. When Jean-Luc puts it into the production exchanges will be able to use guids to track transactions without worrying about transaction malleability. NIP #1 is not ready yet so I created the solution as I felt it should be.

+1
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March 09, 2014, 10:16:16 PM
 #42543

How've you been, Paul? Wink

Pretty good, thank you. And you?

Hey, Emule. Want to jump in? Just a chit chat, no Nxt talk Smiley
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March 09, 2014, 10:19:36 PM
 #42544

Pretty good, thank you. And you?

Hey, Emule. Want to jump in? Just a chit chat, no Nxt talk Smiley

I'm good, having a quiet evening in, watching a movie, relaxing before the start of the week...

Yeah, Emule, pull up a virtual chair! Let's get to know each other.  Smiley

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nhil8r
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March 09, 2014, 10:20:43 PM
 #42545

can someone send me some testNXT.  Thanks

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March 09, 2014, 10:20:50 PM
 #42546

Pretty good, thank you. And you?

Hey, Emule. Want to jump in? Just a chit chat, no Nxt talk Smiley

I'm good, having a quiet evening in, watching a movie, relaxing before the start of the week...

Yeah, Emule, pull up a virtual chair! Let's get to know each other.  Smiley

Haha. Should be interesting. I've unignored him.
verymuchso
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March 09, 2014, 10:24:14 PM
 #42547

We don't need "prompts". Some people will never use strong passwords. And some will not even understand why the password is weak. We need a client that creates password for the user by default. Don't give user easy option to make their own password or you will continue to see this problem every month.

Yet you still want to allow people to enter an existing passphrase when adding an account.

renat0
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March 09, 2014, 10:27:49 PM
 #42548

When are we going to implement lower fees? NXT is a currency and not an investment. I'm an active forger and I want fees to be lowered for NXT's best interest. All we need is a fee low enough to secure the network and I believe 0.01 would do just fine and in the long term would be better for forgers even.

Selling Qora for 5 satoshi each.
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March 09, 2014, 10:28:24 PM
 #42549

I pushed code that supports GUIDs. When Jean-Luc puts it into the production exchanges will be able to use guids to track transactions without worrying about transaction malleability. NIP #1 is not ready yet so I created the solution as I felt it should be.
Thanks!

Could you explain a bit how this GUID makes it immune?

James

P.S. Multisig next?

http://www.digitalcatallaxy.com/report2015.html
100+ page annual report for SuperNET
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March 09, 2014, 10:30:31 PM
 #42550

When are we going to implement lower fees? NXT is a currency and not an investment. I'm an active forger and I want fees to be lowered for NXT's best interest. All we need is a fee low enough to secure the network and I believe 0.01 would do just fine and in the long term would be better for forgers even.
First we need NXT to support fractions, this is happening this month. After that it becomes possible to lower fee. I agree that the lower the fee the more the total revenue will be, even at .01

At .01 I can launch some services that otherwise is to expensive from transaction fees. This also makes trading on AE much less costly.

James

http://www.digitalcatallaxy.com/report2015.html
100+ page annual report for SuperNET
jl777
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March 09, 2014, 10:34:13 PM
 #42551

So, no feedback on "Create NXTcoins"  https://bitcointalk.org/index.php?topic=345619.msg5611246#msg5611246

I expected using a centralized pool approach would create a reaction like global warming.

Researching pool software and ypool's XPT (x.pushthrough) seems like at pretty good one to use. If anybody knows anything about it and wants to help, here is your chance!

James

http://www.digitalcatallaxy.com/report2015.html
100+ page annual report for SuperNET
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March 09, 2014, 10:34:45 PM
 #42552

Thanks!

Could you explain a bit how this GUID makes it immune?

James

P.S. Multisig next?

Each transaction created via sendMoney, etc. returns "guid". An exchange must store it instead of transaction id. Once a transaction is confirmed findObject will return actual transaction id (which can be changed by an adversary).

PS: Multisig will be implemented via AT.
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March 09, 2014, 10:38:22 PM
 #42553

Thanks!

Could you explain a bit how this GUID makes it immune?

James

P.S. Multisig next?

Each transaction created via sendMoney, etc. returns "guid". An exchange must store it instead of transaction id. Once a transaction is confirmed findObject will return actual transaction id (which can be changed by an adversary).

PS: Multisig will be implemented via AT.
So, using guid we can lookup the txid to verify that Evil Bob's txid he submits is different than the real one and reject him. There is no way for Evil Bob to change the GUID. 10 confirmations is recommended.

http://www.digitalcatallaxy.com/report2015.html
100+ page annual report for SuperNET
ChuckOne
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March 09, 2014, 10:42:16 PM
 #42554

I think NXT's focus should be on completing TF to increase the transaction speed, P2P AE and multiple blockchains.

Why do you think TF will increase transaction speed?
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March 09, 2014, 10:48:00 PM
 #42555

Then this won't work.


As long as in the client, the user can choose on which blockchain to broadcast his desired transaction (different cost associated to broadcasting depending one the quality of the hardware supporting the blockchain), then high TPS could happen within the nxt network if the user decide to use "fast" premium quality network for specific important transaction.

True - you would use atomic cross-chain txs to move between NXT and NXG (something that AT will be able to provide).


Why not using assets for this?
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March 09, 2014, 10:49:18 PM
 #42556


THIS IS A DISASTER.

I just saw others have shared my sentiments on this, so I'm editing and paring down to this:

If anything 2101 people just got an important lesson on crypto password security. One of those lessons was just a lot more expensive than the others.



NXT: 4957831430947123625
ChuckOne
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March 09, 2014, 10:49:49 PM
 #42557

I think BCNext talked about different fees for different transaction speeds (and/or security?). What are the implications of our two-blockchain-solution (I keep it simple for now, so only two)?

Maybe: We would have the slow one for the average user (minimal fee) and the high speed one for businesses (more fee).

Users should decide which asset (and therefore which chain) they trade (on).

After that decision is made the fees apply for that very chain and nodes forging on a particular chain decide which transaction to include.
ChuckOne
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March 09, 2014, 10:51:48 PM
 #42558

I think BCNext talked about different fees for different transaction speeds (and/or security?). What are the implications of our two-blockchain-solution (I keep it simple for now, so only two)?

Maybe: We would have the slow one for the average user (minimal fee) and the high speed one for businesses (more fee).

the speed of transaction processing is based on the availability of a processor, the time to get the transaction to it, the time to process and the time for the requestor to see the result.

I don't see how parallel block chains address any of these issues other than making reconciliation of accounts harder because transactions are spread across multiple chains...

EDIT: and I agree with BCNext, see earlier post, the faster you want the tx confirmed the higher the fee %age is a possible model but who pays the higher fee... the merchant wanting an instant confirmation or the buyer....?? both models exist

There are two notions of speed we should not confuse:

TPS and latency.

TPS can be increased almost to 100000000 if enough processor power and bandwidth is available.

Latency is 1 minute.
ChuckOne
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March 09, 2014, 10:56:46 PM
 #42559

[...] that TF is intended to favour a low number of very powerful forgers.

How do you come to that conclusion?
funnynews
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March 09, 2014, 11:01:01 PM
 #42560

Crazy idea, someone has already thought of it?
A coin as the NXT might have similar features with ebay?

1 - I own the account 111111
2 - I want to buy something from the seller who has the account 22222
3 - I send 100NXT, which would be trapped in blockchain at to confirm that I received my purchase.
4 - If I receive the product unlock the 100NXT account for 222.
5 - If not receive but gets stuck and only come back to me if the account venderdor 222 mark as not completed.
6 - Upon completion of the deal or not, we could both evaluate and add 1 point to the "reputation system" of accounts.
7 - Accounts with high reputation, could mediate situations where there was no agreement.

So instead of being added to ebay, etc ... that is the dream of any currency, would replace. To facilitate the exchange of NXT for other currencies without using exchange.

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