[NXT] Decentralized Asset Exchange Discussion Thread

[italcoin]

Send Test Nxt to 12770100660135072668

Ty

[1713403308]

1713403308

[1713403308]

1713403308

[1713403308]

1713403308

[1713403308]

1713403308

[1713403308]

1713403308

[1713403308]

1713403308

[Daedelus]

I tried but it says I don't have the funds... my account balance seems to be fixed for whatever I do. I've issued 8 or so assets so it should have reduced the balance on the  "overview" screen.

The transactions appears on the transactions page but the overview wallet balance doesn't change. Am I missing something?

[swartzfeger]

Send Test Nxt to 12770100660135072668

Ty

Sent you 3000 (I'm running low!)

[rdanneskjoldr]

Can i get some? at 17563576125615787674

TY!

[swartzfeger]

Can i get some? at 17563576125615787674

TY!

Sent you a few.

[coin5l1]

Edit: put wrong address that was my normal address, this is testnet: 4739106916211421057
Missed a nights sleep, not on the ball :S

[Vannicke]

I tried but it says I don't have the funds... my account balance seems to be fixed for whatever I do. I've issued 8 or so assets so it should have reduced the balance on the  "overview" screen.

The transactions appears on the transactions page but the overview wallet balance doesn't change. Am I missing something?

On the unlock screen the client currently needs you to manually click the update button for the amount in your account to update, have you done that?

[swartzfeger]

I feel bad for asking but can I have some?
17826360196980077926
I did have some back at client 5.3 but lost them, also I can't get 7.3 to download. It keeps giving me server error.

Sent you a few...

[Zahlen]

@Anon136

I was thinking about crowdfunding some more. Instead of having it built into the protocol or done via service provider, it could be done via smart contract. e.g. Kickstarter-style could be done via:

1. The person(s) seeking funding create a holding account for contributed Nxt or other issued coins. The smart contract will act based on transactions to this account.

2. They publicize what they're offering, the reward tiers, the funding goal and the deadline.

3. Interested investors send nxt/coins to the holding account. (Maybe with an accompanying AM if they need to specify options)

4. Once the deadline is up:

  a) If the funding goal is not reach, the smart contract will return all sent nxt/coins (minus transaction fees)

  b) If the goal is met, it will issue and send out asset tokens to the investors. Different tokens, and # of tokens depending on which tier/options the investor bought into. And it will send all contributed nxt to the person(s) seeking funding.

5. The smart contract then automatically returns any further contributions for a set period of time, before expiring. (this is in case people mistakenly send funds after the deadline has passed. Or maybe account control could provide a way to prevent an account from receiving transactions)


Smart contracts could be easily customizable, so people can experiment with different types of crowdfunding models and choose what they prefer without having to go to different service providers.

Once account control is implemented, I wonder if smart contracts can automatically lock and unlock the holding account, without revealing the key to anyone? Without something like this, you'd still have to trust the people seeking the funds to not run off with them without issuing tokens, or some 3rd party to be in charge of the account.


Sent out nxt to the last few requesters, and a bunch to swartzfeger.

[swartzfeger]

@Anon136

I was thinking about crowdfunding some more. Instead of having it built into the protocol or done via service provider, it could be done via smart contract. e.g. Kickstarter-style could be done via:

1. The person(s) seeking funding create a holding account for contributed Nxt or other issued coins. The smart contract will act based on transactions to this account.

2. They publicize what they're offering, the reward tiers, the funding goal and the deadline.

3. Interested investors send nxt/coins to the holding account. (Maybe with an accompanying AM if they need to specify options)

4. Once the deadline is up:

  a) If the funding goal is not reach, the smart contract will return all sent nxt/coins (minus transaction fees)

  b) If the goal is met, it will issue and send out asset tokens to the investors. Different tokens, and # of tokens depending on which tier/options the investor bought into. And it will send all contributed nxt to the person(s) seeking funding.

5. The smart contract then automatically returns any further contributions for a set period of time, before expiring. (this is in case people mistakenly send funds after the deadline has passed. Or maybe account control could provide a way to prevent an account from receiving transactions)


Smart contracts could be easily customizable, so people can experiment with different types of crowdfunding models and choose what they prefer without having to go to different service providers.

Once account control is implemented, I wonder if smart contracts can automatically lock and unlock the holding account, without revealing the key to anyone? Without something like this, you'd still have to trust the people seeking the funds to not run off with them without issuing tokens, or some 3rd party to be in charge of the account.


Sent out nxt to the last few requesters, and a bunch to swartzfeger.

Wow, thank you!

re: crowdfunding --

Let's say the goal is 10,000 NXT. What would be cool is to have a minimum (and maybe maximum) number of participants option as well. For cases where you would like to have a committee, board of directors, etc.

You've developed a new technique to fabricate synthetic unicorn hooves. 10k will grant 49% share of company; you want a minimum of three directors, no more than 6. You only sign up two other people for 11000 during funding period, so the project is shelved (temporarily).

Good? Bad? Flawed?

[Coinonaer]

@Anon136

I was thinking about crowdfunding some more. Instead of having it built into the protocol or done via service provider, it could be done via smart contract. e.g. Kickstarter-style could be done via:

1. The person(s) seeking funding create a holding account for contributed Nxt or other issued coins. The smart contract will act based on transactions to this account.

2. They publicize what they're offering, the reward tiers, the funding goal and the deadline.

3. Interested investors send nxt/coins to the holding account. (Maybe with an accompanying AM if they need to specify options)

4. Once the deadline is up:

  a) If the funding goal is not reach, the smart contract will return all sent nxt/coins (minus transaction fees)

  b) If the goal is met, it will issue and send out asset tokens to the investors. Different tokens, and # of tokens depending on which tier/options the investor bought into. And it will send all contributed nxt to the person(s) seeking funding.

5. The smart contract then automatically returns any further contributions for a set period of time, before expiring. (this is in case people mistakenly send funds after the deadline has passed. Or maybe account control could provide a way to prevent an account from receiving transactions)


Smart contracts could be easily customizable, so people can experiment with different types of crowdfunding models and choose what they prefer without having to go to different service providers.

Once account control is implemented, I wonder if smart contracts can automatically lock and unlock the holding account, without revealing the key to anyone? Without something like this, you'd still have to trust the people seeking the funds to not run off with them without issuing tokens, or some 3rd party to be in charge of the account.


Sent out nxt to the last few requesters, and a bunch to swartzfeger.

Would like this idea very much implemented 

[MyZhre]

Need some testNxt please,
11655792499041825006

[Zahlen]

re: crowdfunding --

Let's say the goal is 10,000 NXT. What would be cool is to have a minimum (and maybe maximum) number of participants option as well. For cases where you would like to have a committee, board of directors, etc.

You've developed a new technique to fabricate synthetic unicorn hooves. 10k will grant 49% share of company; you want a minimum of three directors, no more than 6. You only sign up two other people for 11000 during funding period, so the project is shelved (temporarily).

Good? Bad? Flawed?

Dunno if the market will ultimately find that good, bad or flawed, but sounds easily doable through smart contracts. Asset tokens representing director/committee seats could be issued via smart contract, based on contribution. And if it's easily doable, you can bet that people will try it out and figure out whether it's good or bad, and how to improve its flaws.

Would like this idea very much implemented 

I think there definitely will be people who will write smart contracts for this, it sounds easy enough. In fact, I think there will be people who will run websites which will allow you to design this kind of smart contract by choosing parameters (think of the "design your own bitcoin/litecoin clone" site).

Need some testNxt please,
11655792499041825006

10k sent. Buy Zahl!

[chinabreak123]

waiting for this time
nxt is leader of coins

[Anon136]

@Anon136

I was thinking about crowdfunding some more. Instead of having it built into the protocol or done via service provider, it could be done via smart contract. e.g. Kickstarter-style could be done via:

1. The person(s) seeking funding create a holding account for contributed Nxt or other issued coins. The smart contract will act based on transactions to this account.

2. They publicize what they're offering, the reward tiers, the funding goal and the deadline.

3. Interested investors send nxt/coins to the holding account. (Maybe with an accompanying AM if they need to specify options)

4. Once the deadline is up:

  a) If the funding goal is not reach, the smart contract will return all sent nxt/coins (minus transaction fees)

  b) If the goal is met, it will issue and send out asset tokens to the investors. Different tokens, and # of tokens depending on which tier/options the investor bought into. And it will send all contributed nxt to the person(s) seeking funding.

5. The smart contract then automatically returns any further contributions for a set period of time, before expiring. (this is in case people mistakenly send funds after the deadline has passed. Or maybe account control could provide a way to prevent an account from receiving transactions)


Smart contracts could be easily customizable, so people can experiment with different types of crowdfunding models and choose what they prefer without having to go to different service providers.

Once account control is implemented, I wonder if smart contracts can automatically lock and unlock the holding account, without revealing the key to anyone? Without something like this, you'd still have to trust the people seeking the funds to not run off with them without issuing tokens, or some 3rd party to be in charge of the account.


Sent out nxt to the last few requesters, and a bunch to swartzfeger.

this is the key part here.

Once account control is implemented, I wonder if smart contracts can automatically lock and unlock the holding account, without revealing the key to anyone? Without something like this, you'd still have to trust the people seeking the funds to not run off with them without issuing tokens, or some 3rd party to be in charge of the account.

if we could do that with smart contracts than that would be ideal for sure. but if not than it would probably be nice to be able to have people issue signed transactions with conditions, such as this transaction can not be eligible for inclusion in the blockchain unless executed unless in conjunction with other signed transactions totalling a certain amount. the person operating the crowd funding could simply collect signed transactions and wait to publish them until he had enough and infact would only be able to publish them if he had enough.

[MyZhre]

Issue asset, put bid/ask order, cancel bid/ask order, match bid order, seems all ok.

10k sent. Buy Zahl!

Yeah, now I have 1 Zahl!

[Zahlen]

if we could do that with smart contracts than that would be ideal for sure. but if not than it would probably be nice to be able to have people issue signed transactions with conditions, such as this transaction can not be eligible for inclusion in the blockchain unless executed unless in conjunction with other signed transactions totalling a certain amount. the person operating the crowd funding could simply collect signed transactions and wait to publish them until he had enough and infact would only be able to publish them if he had enough.

Sounds really specific for something in the protocol. In a more general form, that would be

"this transaction can not be eligible for inclusion in the blockchain unless executed unless in conjunction with other signed transactions which together satisfy a certain condition"

That condition could be total amount, or it could be total # of transactions that are > certain amount, as in swartzfeger's example of committee/director seats, or something else.

Varying another condition,

"this transaction can not (be eligible for inclusion in the blockchain or chained from or some other operation) unless executed unless in conjunction with other signed transactions which together satisfy a certain condition"

And you could vary other parts too. So what you'd really be after are scripted transactions.

My thinking is that whatever function you want a scripted transaction to be able to perform, could also be performed by a smart contract acting on a regular transaction. We just need the function as part of the lower lev/higher lev opcode, and part of what the protocol can do.

One difference is that in a scripted transaction, the script knows which transaction to act on (the one it's attached to), but a smart contract needs additional information to know which script to act on, e.g. on only txs sent to a specified account. I think processing/memory costs would be another (would all nodes in network have to execute every scripted transaction, like they have to do with smart contracts?)

Either way (or both ways), we need to ask what else we want scripts to be able to do.


An alternative way to handle the Kickstarter example is if account control allows accounts to be timelocked, and to do so transparently so that investors know how long it's timelocked for. So the holding account is created, then timelocked so that it is unlocked only after the crowdfund period has ended and the smart contract has stopped running. If the crowdfund failed, all nxt/coins would have been returned, so there's nothing a dishonest funding seeker could take.


EDIT: Also:

... this transaction can not be eligible for inclusion in the blockchain...

BCNext, found you!

[Come-from-Beyond]

EDIT: Also:

... this transaction can not be eligible for inclusion in the blockchain...

BCNext, found you!

This explains a lot...

[Anon136]

wall of text...

Hey you know, what ever gets the job done. Smart contracts sound awesome, but if for some reason that plan fails I hope that I offered a pretty reasonable and simple to implement alternative.

[Anon136]

EDIT: Also:

... this transaction can not be eligible for inclusion in the blockchain...

BCNext, found you!

This explains a lot...

im really glad you read my post cfb. if worst comes to worse than it should offer a pretty simple way to do crowdfunding.