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Author Topic: [ANN][MTR] Metro – Decentralized exchange [AIRDROP] [POW/POS][GPU Mining]  (Read 6304 times)
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metro.software
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May 24, 2018, 08:26:08 AM
Last edit: October 21, 2018, 07:50:45 PM by metro.software
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 #1

Metro - decentralized exchange

Connect with us
Site: http://metrodex.org/
Whitepaper: http://metrodex.org/whitepaper.pdf
Twitter: https://twitter.com/metro_software
Discord: https://discord.gg/Unm5pdY
GitHub: https://github.com/metrosoftware

Wallet
Last wallet release: https://github.com/metrosoftware/metrodex/releases/tag/1.13.0

Introduction
Bitcoin and other cryptocurrencies that followed Bitcoin solved third party problem for payments. They allow any two willing parties to transact directly with each other without the need for a trusted third party. The solution turned out to be so remarkable that it gave birth to a new economy entity - decentralized corporations. Each cryptocurrency is a measure of value of its decentralized corporation.
And now we have new third party problem. We do not have a convenient way to move a value from one decentralized corporation to another without the involvement of a third party - centralized cryptocurrency exchanges.
Trustless cross-chain trading known as atomic swap is first step to solve the problem. However it has two disadvantages: first, that it's rather slow; second, that trading can be canceled in the process of execution after the parties came to an agreement.
We need a cross-chain exchange that provides a user experience not inferior to the centralized exchanges.

Project goals
  • Provide public blockchain based on popular NXT technology and codebase, whereas improving the initial token distribution by mining.
  • Make built-in NXT assets (colored coins) exchange functional, by providing trustless deposit/withdrawal from other blockchains.
  • Provide a near real time trading user experience.
  • Give to the community a tool for obtaining income in a variety of coins, Etherum Classic and other.

Short technical summary
Metro is a hybrid between Proof-of-Stake based on NXT (Next) and Proof-of-Work originating in Bitcoin with modified Dark Gravity Wave difficulty formula.
Max circulation supply: 1,000,000,000 MTR
POW blocks:
Algo: keccak256
Frequency: 1 in 10 minutes
Block reward: 2,000 MTR
Block reward halving: each 200,000 blocks (3 years 10 months)
POS blocks:
Algo: Blind shooting (ARDOR, NXT)
Frequency: 1 in 3 seconds
Block reward source: transaction fee, trading fee (will be implemented in stage 4)

Roadmap
JULY 2017 – Concept and Research. (done)
JANUARY 2018 – Development start. (done)
MAY 2018 – White paper, announce (done)
JUNE 2018 – Stage 1: Hybrid POW/POS blockchain implementation. Open source code. (done)
JULY 2018 – Blockchain start. Airdrop. (done)
SEPTEMBER 2018 – Stage 2: Transmitting hubs.
DECEMBER 2018 – Stage 3: Real time trading platform.
MARCH 2019 – Stage 4: Two side peg with Ethereum Classic.

Stages
Stage 1: Hybrid POW/POS blockchain implementation. We need fast blocks to give user near real time trading experience. Proof-of-Stake gives us such ability. Proof-of-work has one advantage over the proof-of-stake — there is no need of additional data to check an eligibility of a block release and determine longest chain from the outside the blockchain. And we need this feature for blockchain pegging. Also Proof-of-Stake give us stake protection from 51 percent attack. So, we need hybrid blockchain.
Stage 2: Transmitting hubs. The larger the size of the peer-to-peer network, the longer it takes to distribute the block over it. The highest speed of block distribution is shown by Delegated POS blockchains. Delegates perform the block producers and block propagation hub roles. Unlike DPOS, we split the block produce function and the block propagation function. Traditionally, the function of block produce is performed by miners and forgers, and transmitting hubs are responsible only for their rapid delivery to all network participants.
Stage 3: Real time trading platform. We plan to provide a user experience not inferior to the centralized exchanges.
Stage 4: Two side peg with Ethereum Classic. Ethereum Classic will be the first cryptocurrency pegged to Metro two sides because it has POW consensus and Turing-complete smart contracts. So the first pair on our exchange will be MTR/ETC.
Further stages: After adoption period we will continue adding other cryptocurrencies.

Airdrop
100,000,000 MTR coins or 10% of the max circulation supply will be distributed to NXT community. For each 10 NXT on your wallet at the moment of the snapshot you'll get 1MTR.
The snapshot was on June 22nd. NXT Snapshot block #: 1894000
Other 100,000,000 MTR coins goes to development team.
Airdrop coins will be locked on the blockchain start. Every mined block will unlock 1/200,000 of locked balances. Thus, about 1000 initial distributed MTR will be unlocked every mined block. The whole initial distributed stake will be unlocked when miners receive 400,000,000 MTR.

Rewards:
Testnet miners - 30,000 MTR - reward paid.
enfarktus - 1,000 MTR translation bounty (Turkish) - reward paid.
zhang@discord - 5,000 MTR  bug hunting bounty (block download stop bug) - reward paid.
zhang@discord - 1,000 MTR  bug hunting bounty (minor bug in testnet instructions) - reward paid.
hebe-zhang - 1,000 MTR translation bounty (Chinese) - reward paid.
Croot0n@discord - 1,000 MTR  bug hunting bounty (obsolete archive in wallete release) - reward paid.
buntwo - 1,000 MTR translation bounty (Portuguese) - reward paid.
ginzbitcoin@twitter - 1,000 MTR bug hunting bounty (broken link) - reward paid.
snikers3553 - 1,000 MTR translation bounty (Russian) - reward paid.

Promotion giveaway:
Local topics 1,000 MTR:

German
Spanish
Italiano
Français
Indonesian
Philippines
Romanian
Korean

Local anounces
Turkish - https://bitcointalk.org/index.php?topic=4408397
Russian - https://bitcointalk.org/index.php?topic=4486403
Chinese - https://bitcointalk.org/index.php?topic=4521336
Portuguese - https://bitcointalk.org/index.php?topic=4557613

Testnet
Our testnet has already been launched. You can take a look at our blockchain and train yourself in MTR mining before the mainnet start.

Windows wallet: https://github.com/metrosoftware/metrodex/releases/download/v0.0.1.testnet/metro-client-0.0.1.testnet.zip
Just unzip and run metro.exe

Linux detailed instructions here: https://github.com/metrosoftware/metrodex/blob/v0.0.1.testnet/testnet.md

ccminer: https://github.com/metrosoftware/ccminer
sgminer: https://github.com/metrosoftware/sgminer

Connect with us
Site: http://metrodex.org/
Whitepaper: http://metrodex.org/metro_whitepaper.pdf
Twitter: https://twitter.com/metro_software
Discord: https://discord.gg/Unm5pdY
GitHub: https://github.com/metrosoftware

Public node
http://node.metrodex.org

Block explorer
http://block.hebeblock.com/#/?type=METRO

►►► Metro – become an co-owner of decentralized exchange. Mine or buy your share ◄◄◄ (https://bitcointalk.org/index.php?topic=4211306)
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May 24, 2018, 08:27:01 AM
 #2

Pool, good luck

Holding: Bitcoin | Ethereum | Ark
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May 24, 2018, 08:31:28 AM
 #3

This coin has been promoted in new coin group, good luck team!
https://t.me/CoinsANN
https://discord.gg/Afwc2wn
You will be notified:
- Name of the coin
- Currency type (PoW / PoS / MN)
- Algorithm
- Bitcointalk link declaration
- Mining software
- Discussion of new projects
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May 24, 2018, 08:34:45 AM
 #4

italian translation reserved
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May 24, 2018, 08:35:15 AM
 #5

Reserved for pool Smiley

LycheeBit - Mining pool - https://www.lycheebit.com
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May 24, 2018, 08:40:46 AM
 #6

looks promising

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May 24, 2018, 08:43:33 AM
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What would be the cryptocurrencies involved in the trading? Is there gonna be bitcoin and ethereum in it or just NXT? Do you have any plan for other form of airdrop other than having NXT in the wallet? I hope anyone from the dvelopment team could answer this query, thanks.
metro.software
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May 24, 2018, 08:48:19 AM
Last edit: May 25, 2018, 06:36:50 AM by metro.software
 #8

What would be the cryptocurrencies involved in the trading? Is there gonna be bitcoin and ethereum in it or just NXT? Do you have any plan for other form of airdrop other than having NXT in the wallet? I hope anyone from the dvelopment team could answer this query, thanks.
First currency we plan to add is Ethereum Classic. If the Ethereum will not become pure POS, we will add it right after ETC.

I will elaborate on non-POW pairs prospects later.

►►► Metro – become an co-owner of decentralized exchange. Mine or buy your share ◄◄◄ (https://bitcointalk.org/index.php?topic=4211306)
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May 24, 2018, 09:11:05 AM
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 Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes
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May 24, 2018, 09:21:00 AM
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what is different from the old decentralized decentralization projects that have developed to date, if you know about this project it will be more interesting to consider
metro.software
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May 24, 2018, 09:46:57 AM
Last edit: May 25, 2018, 06:42:15 AM by metro.software
 #11

what is different from the old decentralized decentralization projects that have developed to date, if you know about this project it will be more interesting to consider
There are a lot of successful implementations of DEX. Unfortunately, they limit us to trading either assets issued on the same chain, or promissory notes of tokens on another chain secured by a third party. Our approach allows to safely trade assets from different blockchains. What do I mean by "safely"?
For example, you will be able to trade ETC for ETH without ever trusting your coins to any centralized intermediary, at any step in the process. On old DEX it's impossible, unless it's some form of atomic swap between you and the present owner of ETH, who is desirous of exchanging same amount of ETH back to ETC, which is unlikely at any given moment. In that case DEX would serve as a matching engine between "swappers".

►►► Metro – become an co-owner of decentralized exchange. Mine or buy your share ◄◄◄ (https://bitcointalk.org/index.php?topic=4211306)
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May 24, 2018, 07:26:54 PM
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There are a lot of successful implementations of DEX. Unfortunately they give us ability only trade assets issued on the same chain or promissory notes of the issued on other chains asset secured by third parties. Our approach allows to safe trade assets from different blockchains.
So for example you will be able to trade ETC for ETH without ever trusting your coins to any centralized intermediary. On old DEX it's impossible, unless it's some form of atomic swap between you and the present owner of ETH, who is desirous of exchanging same amount of ETH back to ETC, which is unlikely at any given moment. In that case DEX would serve as a matching engine between "swappers".

Did you check projects like https://0xproject.com/ and you really expect to surpass them with the team of 2 developers? And did I understand correctly that you are going to give 10% airdrop and 90% tokens left for the team, and there will be no ICO? Who needs your tokens and for what purpose all that time while you will try to complete the 3rd stage in your plan and release Real time trading platform?
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May 25, 2018, 03:09:29 AM
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Is this like the fork of NXT? Even so, I have no complain. The website looks awesome and the details are very well explained. My only question for now is where are we going to see the MTR? I mean, I know that we should download the NXT Client then buy NXT, but if I am not mistaken, that wallet is for NXT. So.. how are we going to know if we already got the MTR? Where can we see it?
metro.software
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May 25, 2018, 05:26:52 AM
Last edit: May 25, 2018, 07:03:02 AM by metro.software
 #14

Is this like the fork of NXT? Even so, I have no complain. The website looks awesome and the details are very well explained. My only question for now is where are we going to see the MTR? I mean, I know that we should download the NXT Client then buy NXT, but if I am not mistaken, that wallet is for NXT. So.. how are we going to know if we already got the MTR? Where can we see it?
Yes we made a fork of NXT. Clone on github, in terms of source code, and added considerable amout of our own code. As we mention above, we will release wallet in two weeks along with the source code.
We will make a snapshot on NXT block 1894000 and for all accounts give 1 MTR for 10 NXT on Metro blockchain start. We plan this for the first week of July. You just need to use the same pass-phrase in our wallet to get access to airdrop. And your address in our system will be the same except it will start from "MTR-" not "NXT-".
If by fork you mean something similar to Litecoin Private, no, our blockchain starts from a fresh Genesis block and we don't inherit any transactions apart from the state of NXT accounts that go into our Genesis accounts (airdrop).

►►► Metro – become an co-owner of decentralized exchange. Mine or buy your share ◄◄◄ (https://bitcointalk.org/index.php?topic=4211306)
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May 25, 2018, 05:44:57 AM
Last edit: May 25, 2018, 06:57:42 AM by metro.software
 #15

Did you check projects like https://0xproject.com/ and
On a first glance 0xproject uses simple ERC20 token. So it's about promissory notes, if it will involve any tokens outside Ethereum. You'll need to trust token issuer. If someone creates ERC20 for bitcoin tomorrow, would you trust him and send him your BTC to trade on this DEX?
On a second glance, 0xproject looks to be a platform for DApps developers, not the end product for trader/investor.

you really expect to surpass them with the team of 2 developers?
We will invite more devs when we need them.

And did I understand correctly that you are going to give 10% airdrop and 90% tokens left for the team, and there will be no ICO?
No. 10% - airdrop. 10% - team. 80% - miners. No ICO.

Who needs your tokens and for what purpose all that time while you will try to complete the 3rd stage in your plan and release Real time trading platform?
You can think about first two stages as of pre-sale phase. Miners will sell what they mine (keeping the tokens they want as an investment) and all who become interested in the project will have opportunity buy tokens, initially on existing NXT d-exchange, then on Metro. During this period everybody will be able to check quality of the team and code, understand basic idea and decide to join project or not.




►►► Metro – become an co-owner of decentralized exchange. Mine or buy your share ◄◄◄ (https://bitcointalk.org/index.php?topic=4211306)
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May 25, 2018, 08:31:12 AM
Last edit: May 27, 2018, 02:01:11 PM by metro.software
 #16

Promotion giveaway:
Local topics 1,000 MTR:

Chinese - reserved q5503162
Russian - reserved dsg21
Turkish
German
Spanish
Italiano - reserved kripti
Français
Indonesian - reserved dusko
Portuguese
Philippines
Romanian
Korean - reserved ddhao

►►► Metro – become an co-owner of decentralized exchange. Mine or buy your share ◄◄◄ (https://bitcointalk.org/index.php?topic=4211306)
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May 25, 2018, 01:14:09 PM
 #17

Hi guys

what are the prospects of adding coins with more exotic consensus to your exchange, like hmm... byteball?
How the peg to NXT will work?

Ceterum censeo Civitatem Profunda esse delendam
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May 25, 2018, 01:21:23 PM
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reserved for Chinese
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May 25, 2018, 06:43:56 PM
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There were questions:
1. What is your token for?
2. Is it a security token, or utility?
3. Will it be traded only on the domestic exchange, or on the external one, too?
4. Exchanges trading NXT will be able to receive, send this token?

TOP Network: Enable real-world business with Blockchain 4.0 technology
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|   No Transaction Fee   |   300K TPS   |   50 Million Active Users   |
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May 27, 2018, 12:17:58 PM
 #20

korean translation reserved
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