New XDN exchange allowing 3 decimals past a satoshi

[pwstegman]

Ducknote exchange release
Allows up to 3 decimal places past a satoshi

Update: This exchange has since been updated.  Please see its new thread here https://bitcointalk.org/index.php?topic=764158, as this thread is no longer current, and cannot be guaranteed to be accurate.

A large problem that came up in the Ducknote community was that the market value was floating around 3 satoshi.  As all the existing exchanges do not allow decimal values past a satoshi, there was no room for the value to move unless it was to jump (or fall) 33% to 2 or 4 in one go.

I set to develop a new exchange that supports values with precision of up to one one-thousandth of a satoshi.  Today, after running many tests I can say that the exchange is now fully functional.

Current features / "specs":

• All values stored as integers
• All conversions from ints to floats are done via string manipulation (no floating point arithmetic is done)
• Balances are derived from transaction and deposit history
• A hash with a salt of all data (transaction history, user data, etc.) is stored.  The hashes are checked against data as it is loaded and used to ensure the data has not been modified
• The server is hosted locally, and is managed locally.  No ssh is set up, thus increasing security of the server
• The database is backed up to S3 currently on a daily basis (although backups may be scheduled more frequently, it depends on how large the backups would be and the user activity)
• Additional features will be listed in updates as they are added

Planned release dates: on 7/13/2014 the exchange will be opened to a small number of people to see how it goes.  The exchange will be open to the general public on 7/15/2014 with limited features, and more features will be added as time goes on after that.

Update 7/14/2014:
Today the exchange is being opened for beta testing.  Although I have taken a lot of time to ensure the exchange works flawlessly, I am still offering rewards for issues/bugs found:

• 1000 xdn just for testing
• 2000 xdn for reporting a noncritical bug
• 10000 xdn for a critical bug

As of now, all accounts will get 0.05 BTC and 1M XDN for testing purposes.  Although the credited amounts are sufficient for testing, any deposited funds can also be used, and will remain even after this initial testing period.  Withdrawals are disabled until the testing period is over.  The testing period will not exceed 3 days.

At the end of the testing period, all transactions and balances will be cleared.  Deposited funds will remain.

Right now the exchange has the minimum number of features needed to operate, so they could be tested as soon as possible.  More features such as graphs and market history will be added soon.
Market history has been added.  I am working on the market graph.

Update 7/18/2014:
The exchange is now fully functional!  Thank you to everyone who took the time to help test!  1000 xdn has been sent to each account as promised.
As the exchange has only been out for a few days, I am still going to classify it as beta, but the testing period with test funds is over, and it is a working exchange now.
Updates to the site today included

• Withdrawals were enabled
• The orders page was redesigned to show when an order was placed and when the last transaction on an order occurred
• Transaction history has been added to the orders page
• Page load time was improved by loading data such as coin balances after page load

Update 7/21/2014

• The market page now automatically updates the current orders and your current balance.  It is no longer necessary to refresh.
• Added the option to click on an active order to autofill the buy or sell order form

[adhitthana]

Will we be able to transfer XDN directly from either Bittrex or Poloniex to this exchange?

[pwstegman]

Sorry, direct transfers are not possible.  The exchange uses payment id to differentiate between deposits, and Bittrex and Poloniex do not support payment ids when withdrawing.

[jwinterm]

Sorry, direct transfers are not possible.  The exchange uses payment id to differentiate between deposits, and Bittrex and Poloniex do not support payment ids when withdrawing.

polo does, at least

[pwstegman]

Sorry, direct transfers are not possible.  The exchange uses payment id to differentiate between deposits, and Bittrex and Poloniex do not support payment ids when withdrawing.

polo does, at least

When I checked poloniex's withdraw option for ducknote, I did not see where to provide a payment id.  Where did you find the option to withdraw with a payment id?

[T.Stuart]

Hats off to you for doing this.

I must wait until a more layman friendly wallet comes along though, as for the time being I simply keep my few ducknotes on exchange!

[MoneroMooo]

Is the site accepting registrations ?

I tried, and I get dumped back to the registration screen. Nothing in the mail.

[pwstegman]

Is the site accepting registrations ?

I tried, and I get dumped back to the registration screen. Nothing in the mail.

You're right, it seems that registrations are not going through.

Okay, so I looked into it, and that is now fixed.  I had disabled registrations for a second to update how balances were calculated for the testing period, and hadn't reenabled them after I was done.  Sorry for the delay!  And as promised, if you post your ducknote address, I can send 2000 xdn to it, or I can credit your exchange account, your choice.

Quick clarification:
I define a critical bug as anything that could affect the exchange's security or balances, Example: A bug that allows you to sell more ducknote than you have

[MoneroMooo]

Great, I registered without issues now.

One thing that's not really a bug, but confusing:
I placed a couple orders, and I noticed at least the second one gave me a BTC value like this:
0.000003885 BTC
Note how this has 9 decimals, and I could quickly read it as 3885 satoshis. Easy to make a mistake with that!
If you're going to count in fractions of satoshis, maybe display the extra decimals specially, like smaller font, or something like that ?

Anyway, it seems nice, I'll play with it a bit more later when I get time. I'll PM you my address too.

Do we have "written" permission to try to break it since the funds are not real yet ?

[MoneroMooo]

I was playing with it, placing a buy order for 100 XDN.
I then placed a sell order of 50 XDN (at same price). I then cancelled the buy order (half filled).
The market history does not show that transaction, but I have only 999999.75000000, so the transaction seems to have gone through as the fee was taken.

[MoneroMooo]

Moreover, I just noticed that the sell order for 50 is listed in my history. So it has gone through. The buy order, however, is not here (even though I sold to myself). So (1) only one part of the transaction is present on my trade history, and (2) none of it is in the market history.

That said, you might choose to disallow trading with oneself, as this is probably not what the order placer would have intended.

[pwstegman]

Moreover, I just noticed that the sell order for 50 is listed in my history. So it has gone through. The buy order, however, is not here (even though I sold to myself). So (1) only one part of the transaction is present on my trade history, and (2) none of it is in the market history.

That said, you might choose to disallow trading with oneself, as this is probably not what the order placer would have intended.

Self trades are not listed in the market history, so people cannot spam the market history with transactions at any value they choose.

Also, when the market graph and price are listed, (a price based on market history), people could manipulate that price by trading with themselves at crazy prices.

Edit: I took a look at your order history, and both the buy and sell are coming up. The buy order should be listed under your canceled buy orders.

Edit2: You can no longer trade with yourself.

[adhitthana]

Sorry, direct transfers are not possible.  The exchange uses payment id to differentiate between deposits, and Bittrex and Poloniex do not support payment ids when withdrawing.

So I need to download a windows wallet, and transfer from trex or polo into the wallet then to your exchange?

Well done BTW too. 

[pwstegman]

Sorry, direct transfers are not possible.  The exchange uses payment id to differentiate between deposits, and Bittrex and Poloniex do not support payment ids when withdrawing.

So I need to download a windows wallet, and transfer from trex or polo into the wallet then to your exchange?

Well done BTW too.  

You are correct.  That is what you would have to do to transfer funds.

During the testing period, however, deposits are not required, as all users get 0.05 BTC and 1M ducknote to use for testing purposes.

[adhitthana]

As of now, all accounts will get 0.05 BTC and 1M XDN for testing purposes.  Although the credited amounts are sufficient for testing, any deposited funds can also be used, and will remain even after this initial testing period.  Withdrawals are disabled until the testing period is over.  The testing period will not exceed 3 days.
At the end of the testing period, all transactions and balances will be cleared.  Deposited funds will remain.

Ok I deposited some BTC.....I will be able to buy XDN once the deposit is confirmed??

Oh should I have waited to deposit BTC?
How will my BTC be differentiated from the BTC in my account for testing?

[MoneroMooo]

Self trades are not listed in the market history, so people cannot spam the market history with transactions at any value they choose.

Also, when the market graph and price are listed, (a price based on market history), people could manipulate that price by trading with themselves at crazy prices.

Edit: I took a look at your order history, and both the buy and sell are coming up. The buy order should be listed under your canceled buy orders.

Edit2: You can no longer trade with yourself.

Oh, I see it in the cancelled list, you're right. Not sure why I did not see it there It makes sense now, I guess it doesn't readily fit in either cancelled nor completed categories since it was half complete.

Thanks for your work!

[pwstegman]

As of now, all accounts will get 0.05 BTC and 1M XDN for testing purposes.  Although the credited amounts are sufficient for testing, any deposited funds can also be used, and will remain even after this initial testing period.  Withdrawals are disabled until the testing period is over.  The testing period will not exceed 3 days.
At the end of the testing period, all transactions and balances will be cleared.  Deposited funds will remain.

Ok I deposited some BTC.....I will be able to buy XDN once the deposit is confirmed??

Oh should I have waited to deposit BTC?
How will my BTC be differentiated from the BTC in my account for testing?

It is fine to deposit during the testing period.  Your BTC will still be there even after testing is done.  After testing is over, all trades will reset, and all balances will reset to whatever has been deposited.  So, even if you trade deposited BTC (or ducknote) during this testing period, you will get it back afterwards.  After that, trading will resume as normal.

[pwstegman]

The testing period will end on July 17 11:59 PM UTC.

At that point, all trades and orders will be cleared, and balances will revert to whatever had been deposited during the testing period.  Withdrawals will then be enabled.  Each account registered before July 17 11:59 PM UTC will receive the 1000 xdn reward for testing the exchange.

[pwstegman]

The exchange is open and fully functional

Updates today included

• Withdrawals were enabled
• The orders page was redesigned to show when an order was placed and when the last transaction on an order occurred
• Transaction history has been added to the orders page
• Page load time was improved by loading data such as coin balances after page load

[adhitthana]

Help I cant remember my user name. I have the registration email but is doesn't mention my user name.
To reset my password I need my user name, rather than my email address.